Company: SPH
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015135
Chunk: 153

Company: SUBURBAN PROPANE PARTNERS LP
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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    7.8
    %

    As a percent of total revenues

    5.3
    %

    5.0
    %

 28

Net interest expense of $19.6 million for the first quarter of fiscal 2025 increased $1.4 million from the prior year first quarter, primarily due to a higher level of average outstanding borrowings under our Revolving Credit Facility.  See Liquidity and Capital Resources below for additional discussion.

Other, net

    (Dollars in thousands)
     
    Three Months Ended

    Percent

    December 28,

    December 30,

    Increase

    Increase

    2024

    2023

    (Decrease)

    (Decrease)

    Equity in losses of Oberon (1)
     
    $
    12,198

    $
    4,664

    $
    7,534

    161.5
    %

    Equity in losses of IH (2)

    10,043

    494

    9,549

    1,933.0
    %

    Contingent consideration from Equilibrium

    (3,000
    )

    —

    (3,000
    )

    —

    Other (3)

    226

    695

    (469
    )

    (67.5
    )%

    Other, net
     
    $
    19,467

    $
    5,853

    $
    13,614

    232.6
    %

    As a percent of total revenues

    5.2
    %

    1.6
    %

(1)Three months ended December 28, 2024 includes an other-than-temporary impairment charge of $10,213 (see Item 1, Note 4 of this Quarterly Report). 

(2)Three months ended December 28, 2024 includes an other-than-temporary impairment charge of $9,595 (see Item 1, Note 4 of this Quarterly Report).

(3)Represents net periodic benefits costs for our pension and other postretirement benefit plans (see Item 1, Note 15 of this Quarterly Report).

EBITDA and Adjusted EBITDA

EBITDA represents net income before deducting interest expense, income taxes, depreciation and amortization.  Adjusted EBITDA represents EBITDA excluding the unrealized