Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 127

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 residual value guarantees associated with certain of its operating leases, related primarily to transportation equipment. See Note 14, “Guarantees” for more information. The Partnership does not have any material lease obligations that were signed, but not yet commenced as of December 28, 2024.

 14

Quantitative information on the Partnership’s lease population is as follows: 

        Three Months Ended

        December 28,

        December 30,

        2024

        2023

        Lease expense
         
        $
        11,207

        $
        10,753

        Other information:

        Cash payments for operating leases

        11,243

        10,804

        Right-of-use assets obtained in exchange   for new operating lease liabilities

        6,561

        4,033

        Weighted-average remaining lease term
         
        5.6 years

        5.5 years

        Weighted-average discount rate

        6.2
        %

        5.9
        %
       
       The following table summarizes future minimum lease payments under non-cancelable operating leases as of December 28, 2024:   

        Fiscal Year
         
        Operating Leases

        2025 (remaining)
         
        $
        33,055

        2026

        38,834

        2027

        28,215

        2028

        22,627

        2029

        16,106

        2030 and thereafter

        26,263

        Total future minimum lease payments
         
        $
        165,100

        Less: interest

        (27,193
        )

        Total lease obligations
         
        $
        137,907

9.Net Income Per Common UnitComputations of basic income per Common Unit are performed by dividing net income by the weighted average number of outstanding Common Units, and vested (and unissued) restricted units granted under the Partnership’s Restricted Unit Plan, as defined below, to retirement-eligible grantees.  Computations of diluted income per Common Unit are performed by dividing net income by the weighted average number of outstanding Common Units and unvested restricted units granted under the Restricted Unit Plan.  In computing diluted net income per Common Unit, weighted average units outstanding used to compute basic net income per Common Unit were increased by 259,196 and 316,563