Company: SPH
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000950170-25-066557
Chunk: 11

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 3
Chunk 11
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%, plus the applicable margin.  The applicable margin is dependent on the level of our total consolidated leverage (the total ratio of debt to consolidated EBITDA).  Therefore, we are subject to interest rate risk on the variable component of the interest rate.  From time to time, we enter into interest rate swap agreements to manage a part of our variable interest rate risk.  The interest rate swaps are designated as cash flow hedges. Changes in the fair value of the interest rate swaps are recognized in other comprehensive income (“OCI”) until the hedged item is recognized in earnings.  At March 29, 2025, we were not party to an interest rate swap agreement.