Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 18

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 that it is more likely than not that the fair value of a reporting unit is less than its carrying amount.  If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing an impairment test is unnecessary.  However, if an entity concludes otherwise, then it is required to perform an impairment test.Under an impairment test, the Partnership assesses the carrying value of goodwill at a reporting unit level based on an estimate of the fair value of the respective reporting unit.  Fair value of the reporting unit is estimated using discounted cash flow analyses taking into consideration estimated cash flows in a ten-year projection period and a terminal value calculation at the end of the projection period.  If the fair value of the reporting unit exceeds its carrying value, the goodwill associated with the reporting unit is not considered to be impaired.  If the carrying value of the reporting unit exceeds its fair value, an impairment loss is recognized to the extent that the carrying amount exceeds the fair value, up to the amount of goodwill allocated to the reporting unit.

 13

The carrying values of goodwill assigned to the Partnership’s operating segments are as follows:

        Fuel oil and

        Natural gas

        Propane

        refined fuels

        and electricity

        All other

        Total

        Balance as of September 28, 2024

        Goodwill
         
        $
        1,107,655

        $
        10,900

        $
        7,900

        $
        31,259

        $
        1,157,714

        Accumulated adjustments

        —

        (6,462
        )

        —

        —

        (6,462
        )

        $
        1,107,655

        $
        4,438

        $
        7,900

        $
        31,259

        $
        1,151,252

        Fiscal 2025 Activity

        Goodwill acquired (1)
         
        $
        9,635

        $
        —

        $
        —

        $
        —

        $
        9,635

        Balance as of December 28, 2024

        Goodwill
         
        $
        1,117,290

        $
        10,900

        $
        7,900

        $
        31,259

        $
        1,