Derivatives and Hedging-Disclosures and Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2016

Partnership's Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The Partnership’s financial assets and liabilities measured at fair value on a recurring basis are listed on the following table.

(In thousands)					Fair Value Measurements at Reporting Date Using:
Derivatives Not Designated as Hedging Instruments					Quoted Prices in Active Markets for Identical Assets			Significant Other Observable Inputs
Under FASB ASC 815-10	Balance Sheet Location	Total			Level 1			Level 2
Asset Derivatives at June 30, 2016
Commodity contracts	Fair asset and fair liability value of derivative instruments	$	12,309		$	2,533		$	9,776
Commodity contracts	Long-term derivative assets included in the deferred charges and other assets, net, and in the other long-term liabilities balances		1,411			447			964
Commodity contract assets at June 30, 2016		$	13,720		$	2,980		$	10,740
Liability Derivatives at June 30, 2016
Commodity contracts	Fair liability and fair asset value of derivative instruments	$	—
Commodity contracts	Cash collateral		(8,976	)		(3,258	)		(5,718	)
Commodity contracts	Long-term derivative liabilities included in the other long-term liabilities, and the deferred charges and other assets, net, balances		(535	)		(444	)		(91	)
Commodity contract liabilities at June 30, 2016		$	(9,511	)	$	(3,702	)	$	(5,809	)
Asset Derivatives at September 30, 2015
Commodity contracts	Fair asset and fair liability value of derivative instruments	$	26,628		$	930		$	25,698
Commodity contracts	Long-term derivative assets included in the other long-term liabilities balance		4,975			2,017			2,958
Commodity contract assets at September 30, 2015		$	31,603		$	2,947		$	28,656
Liability Derivatives at September 30, 2015
Commodity contracts	Fair liability and fair asset value of derivative instruments	$	(41,270	)	$	—		$	(41,270	)
Commodity contracts	Cash collateral		2,758			2,758			—
Commodity contracts	Long-term derivative liabilities included in the other long-term liabilities balance		(5,977	)		(2,038	)		(3,939	)
Commodity contract liabilities at September 30, 2015		$	(44,489	)	$	720		$	(45,209	)

Partnership's Derivatives Assets (Liabilities) Offset by Counterparty

The Partnership’s derivative assets (liabilities) offset by counterparty and subject to an enforceable master netting arrangement are listed on the following table.

(In thousands)									Gross Amounts Not Offset in the Statement of Financial Position
Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities)	Gross Assets Recognized		Gross Liabilities Offset in the Statement of Financial Position			Net Assets (Liabilities) Presented in the Statement of Financial Position			Financial Instruments		Cash Collateral Received		Net Amount
Fair asset value of derivative instruments	$	6,754	$	(2,494	)	$	4,260		$	—	$	—	$	4,260
Long-term derivative assets included in deferred charges and other assets, net		1,401		(523	)		878			—		—		878
Fair liability value of derivative instruments		5,555		(6,482	)		(927	)		—		—		(927	)
Long-term derivative liabilities included in other long-term liabilities, net		10		(12	)		(2	)		—				(2	)
Total at June 30, 2016	$	13,720	$	(9,511	)	$	4,209		$	—	$	—	$	4,209
Fair asset value of derivative instruments	$	935	$	—		$	935		$	—	$	—	$	935
Fair liability value of derivative instruments		25,693		(38,512	)		(12,819	)		—		—		(12,819	)
Long-term derivative liabilities included in other long-term liabilities, net		4,975		(5,977	)		(1,002	)						(1,002	)
Total at September 30, 2015	$	31,603	$	(44,489	)	$	(12,886	)	$	—	$	—	$	(12,886	)

Partnership's Derivatives Assets (Liabilities) Offset by Counterparty

The Partnership’s derivative assets (liabilities) offset by counterparty and subject to an enforceable master netting arrangement are listed on the following table.

(In thousands)									Gross Amounts Not Offset in the Statement of Financial Position
Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities)	Gross Assets Recognized		Gross Liabilities Offset in the Statement of Financial Position			Net Assets (Liabilities) Presented in the Statement of Financial Position			Financial Instruments		Cash Collateral Received		Net Amount
Fair asset value of derivative instruments	$	6,754	$	(2,494	)	$	4,260		$	—	$	—	$	4,260
Long-term derivative assets included in deferred charges and other assets, net		1,401		(523	)		878			—		—		878
Fair liability value of derivative instruments		5,555		(6,482	)		(927	)		—		—		(927	)
Long-term derivative liabilities included in other long-term liabilities, net		10		(12	)		(2	)		—				(2	)
Total at June 30, 2016	$	13,720	$	(9,511	)	$	4,209		$	—	$	—	$	4,209
Fair asset value of derivative instruments	$	935	$	—		$	935		$	—	$	—	$	935
Fair liability value of derivative instruments		25,693		(38,512	)		(12,819	)		—		—		(12,819	)
Long-term derivative liabilities included in other long-term liabilities, net		4,975		(5,977	)		(1,002	)						(1,002	)
Total at September 30, 2015	$	31,603	$	(44,489	)	$	(12,886	)	$	—	$	—	$	(12,886	)

Partnership's Effect on Derivative Instruments on the Statement of Operations

(In thousands)
The Effect of Derivative Instruments on the Statement of Operations
		Amount of (Gain) or Loss Recognized
Derivatives Not Designated as Hedging Instruments Under FASB ASC 815-10	Location of (Gain) or Loss Recognized in Income on Derivative	Three Months Ended June 30, 2016			Three Months Ended June 30, 2015			Nine Months Ended June 30, 2016			Nine Months Ended June 30, 2015
Closed Positions
Commodity contracts	Cost of product (a)	$	8,177		$	6,599		$	16,978		$	17,115
Commodity contracts	Cost of installations and service (a)	$	72		$	280		$	848		$	1,625
Commodity contracts	Delivery and branch expenses (a)	$	150		$	251		$	1,029		$	1,716
Closed Positions
Commodity contracts	(Increase) / decrease in the fair value of derivative instruments	$	(11,283	)	$	(5,415	)	$	(20,071	)	$	(9,756	)

(a) Represents realized closed positions and includes the cost of options as they expire.