Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 141

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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        Total depreciation and amortization
         
        $
        17,099

        $
        16,393

        As of

        December 28,

        September 28,

        2024

        2024

        Assets:

        Propane
         
        $
        2,001,445

        $
        1,912,465

        Fuel oil and refined fuels

        47,004

        43,579

        Natural gas and electricity

        12,339

        10,248

        All other

        255,437

        250,445

        Corporate

        68,401

        56,024

        Total assets
         
        $
        2,384,626

        $
        2,272,761

19.Subsequent EventsThe Partnership and SuburbanRNG -  Stanfield obtained a waiver after December 28, 2024 from a majority of the holders of the Green Bonds that cured certain events of default under the Green Bonds, and a waiver from the lenders and administrative agent under the Credit Agreement for a corresponding event of default under the Credit Agreement resulting from the event of default under the Green Bonds.  Following receipt of the waivers, the Partnership is not in default under the terms of the Green Bonds or the Credit Agreement. See Note 10, “Long Term Borrowings” for more information.

 22

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following is a discussion and analysis of the financial condition and results of operations of the Partnership as of and for the three months ended December 28, 2024, seen from our perspective.  The discussion and analysis should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations and the historical consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended September 28, 2024.

Executive Overview

The following are factors that regularly affect our operating results and financial condition.  Our business is subject to the risks and uncertainties described in Item 1A included in the Annual Report on Form 10-K for the fiscal year ended September 28, 2024 and in this Quarterly Report.  Management currently considers the following events, trends, and uncertainties to be most important to understanding our financial condition and operating performance:  

Product Costs and Supply

The level of profitability in the