10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 24, 2017

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             .

Commission File Number: 1-9444

CEDAR FAIR, L.P.

(Exact name of registrant as specified in its charter)

DELAWARE	34-1560655
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

One Cedar Point Drive, Sandusky, Ohio 44870-5259

(Address of principal executive offices) (Zip Code)

(419) 626-0830

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer	x	Accelerated filer	o
Non-accelerated filer	o (Do not check if a smaller reporting company)	Smaller reporting company	o
		Emerging growth company	o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

Title of Class	Units Outstanding as of October 27, 2017
Units Representing Limited Partner Interests	56,237,988

Page 1 of 39 pages

CEDAR FAIR, L.P.

INDEX

FORM 10 - Q

Part I - Financial Information
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	28
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	35
Item 4.	Controls and Procedures	36
Part II - Other Information
Item 1.	Legal Proceedings	37
Item 1A.	Risk Factors	37
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	38
Item 6.	Exhibits	38
Signatures		39

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

	9/24/2017			12/31/2016			9/25/2016
ASSETS
Current Assets:
Cash and cash equivalents	$	249,946		$	122,716		$	187,302
Receivables	52,303			35,414			51,536
Inventories	34,240			26,276			31,059
Other current assets	18,624			11,270			13,809
	355,113			195,676			283,706
Property and Equipment:
Land	272,213			265,961			267,175
Land improvements	416,629			402,013			394,141
Buildings	707,964			663,982			675,440
Rides and equipment	1,740,826			1,643,770			1,653,274
Construction in progress	57,605			58,299			34,918
	3,195,237			3,034,025			3,024,948
Less accumulated depreciation	(1,614,727		)	(1,494,805		)	(1,498,908		)
	1,580,510			1,539,220			1,526,040
Goodwill	185,010			179,660			215,460
Other Intangibles, net	38,532			37,837			36,430
Other Assets	17,407			20,788			21,473
	$	2,176,572		$	1,973,181		$	2,083,109
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	2,775		$	1,200
Accounts payable	33,710			20,851			32,891
Deferred revenue	86,732			82,765			65,748
Accrued interest	23,928			9,986			10,939
Accrued taxes	78,657			58,958			69,916
Accrued salaries, wages and benefits	30,666			30,358			42,744
Self-insurance reserves	27,549			27,063			26,820
Other accrued liabilities	20,562			9,927			12,348
	301,804			242,683			262,606
Deferred Tax Liability	112,671			104,885			137,712
Derivative Liability	14,849			17,721			30,185
Other Liabilities	12,340			13,162			12,488
Long-Term Debt:
Term debt	723,385			594,228			595,253
Notes	936,241			939,983			939,418
	1,659,626			1,534,211			1,534,671
Partners’ Equity:
Special L.P. interests	5,290			5,290			5,290
General partner	—			—			1
Limited partners, 56,238, 56,201 and 56,091 units outstanding at September 24, 2017, December 31, 2016 and September 25, 2016, respectively	74,155			52,288			100,956
Accumulated other comprehensive income (loss)	(4,163		)	2,941			(800		)
	75,282			60,519			105,447
	$	2,176,572		$	1,973,181		$	2,083,109

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

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CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(In thousands, except per unit amounts)

	Three months ended						Nine months ended
	9/24/2017			9/25/2016			9/24/2017			9/25/2016
Net revenues:
Admissions	$	361,279		$	361,949		$	598,723		$	604,947
Food, merchandise and games	205,137			202,341			356,512			354,032
Accommodations, extra-charge products and other	86,273			85,993			138,570			137,776
	652,689			650,283			1,093,805			1,096,755
Costs and expenses:
Cost of food, merchandise, and games revenues	52,647			52,057			92,376			92,860
Operating expenses	202,710			199,292			447,379			441,421
Selling, general and administrative	71,663			65,099			151,142			142,082
Depreciation and amortization	70,060			64,685			126,237			118,175
Loss on impairment / retirement of fixed assets, net	1,347			1,355			3,057			5,382
Gain on sale of investment	(1,877		)	—			(1,877		)	—
	396,550			382,488			818,314			799,920
Operating income	256,139			267,795			275,491			296,835
Interest expense	21,638			20,957			62,472			61,869
Net effect of swaps	(952		)	1,650			3,717			8,902
Loss on early debt extinguishment	—			—			23,115			—
(Gain) loss on foreign currency	(29,193		)	7,341			(35,047		)	(23,675		)
Other income	(416		)	(58		)	(464		)	(84		)
Income before taxes	265,062			237,905			221,698			249,823
Provision for taxes	73,747			62,918			63,769			65,339
Net income	191,315			174,987			157,929			184,484
Net income allocated to general partner	1			2			1			2
Net income allocated to limited partners	$	191,314		$	174,985		$	157,928		$	184,482
Net income	$	191,315		$	174,987		$	157,929		$	184,484
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143		)	1,397			(13,085		)	(5,447		)
Unrealized gain on cash flow hedging derivatives	1,994			1,994			5,981			1,356
Other comprehensive income (loss), (net of tax)	(9,149		)	3,391			(7,104		)	(4,091		)
Total comprehensive income	$	182,166		$	178,378		$	150,825		$	180,393
Basic income per limited partner unit:
Weighted average limited partner units outstanding	56,078			55,948			56,062			55,922
Net income per limited partner unit	$	3.41		$	3.13		$	2.82		$	3.30
Diluted income per limited partner unit:
Weighted average limited partner units outstanding	56,591			56,365			56,631			56,392
Net income per limited partner unit	$	3.38		$	3.10		$	2.79		$	3.27

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

4

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PARTNERS’ EQUITY

(In thousands)

	Nine months ended
	9/24/2017			9/25/2016
Limited Partnership Units Outstanding
Beginning balance	56,201			56,018
Limited partnership unit options exercised	9			29
Limited partnership unit forfeitures	(3		)	—
Issuance of limited partnership units as compensation	31			44
	56,238			56,091
Limited Partners’ Equity
Beginning balance	$	52,288		$	48,428
Net income	157,928			184,482
Partnership distribution declared ($2.565 and $2.475 per limited partnership unit)	(144,516		)	(139,041		)
Expense recognized for limited partnership unit options	—			5
Tax effect of units involved in treasury unit transactions	(2,560		)	(1,903		)
Issuance of limited partnership units as compensation	11,015			8,985
	74,155			100,956
General Partner’s Equity
Beginning balance	—			—
Net income	1			2
Partnership distribution declared	(1		)	(1		)
	—			1
Special L.P. Interests	5,290			5,290
Accumulated Other Comprehensive Income
Foreign currency translation adjustment:
Beginning balance	18,891			22,591
Period activity, net of tax $0 and $3,131	(13,085		)	(5,447		)
	5,806			17,144
Unrealized loss on cash flow hedging derivatives:
Beginning balance	(15,950		)	(19,300		)
Period activity, net of tax ($1,113) and ($279)	5,981			1,356
	(9,969		)	(17,944		)
	(4,163		)	(800		)
Total Partners’ Equity	$	75,282		$	105,447

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of this statement.

5

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	Nine months ended
	9/24/2017			9/25/2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	157,929		$	184,484
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	126,237			118,175
Loss on early debt extinguishment	23,115			—
Non-cash foreign currency gain on debt	(39,296		)	(23,891		)
Other non-cash expenses	26,942			36,004
Net change in working capital	27,625			31,267
Net change in other assets/liabilities	66			(5,337		)
Net cash from operating activities	322,618			340,702
CASH FLOWS FOR INVESTING ACTIVITIES
Capital expenditures	(152,373		)	(126,864		)
Proceeds from sale of investment	3,281			—
Purchase of identifiable intangible assets	(66		)	—
Net cash for investing activities	(149,158		)	(126,864		)
CASH FLOWS FOR FINANCING ACTIVITIES
Term debt borrowings	750,000			—
Note borrowings	500,000			—
Term debt payments	(617,850		)	(6,000		)
Note payments, including amounts paid for early termination	(515,458		)	—
Distributions paid to partners	(144,517		)	(139,042		)
Payment of debt issuance costs	(19,684		)	—
Tax effect of units involved in treasury unit transactions	(2,560		)	(1,903		)
Payments related to tax withholding for equity compensation	(2,053		)	(920		)
Net cash for financing activities	(52,122		)	(147,865		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	5,892			1,772
CASH AND CASH EQUIVALENTS
Net increase for the period	127,230			67,745
Balance, beginning of period	122,716			119,557
Balance, end of period	$	249,946		$	187,302
SUPPLEMENTAL INFORMATION
Net cash payments for interest expense	$	48,729		$	61,558
Interest capitalized	1,770			1,699
Cash payments for income taxes, net of refunds	44,090			33,141
Capital expenditures in accounts payable	5,582			3,179

The accompanying Notes to Unaudited Condensed Consolidated Financial Statements are an integral part of these statements.

6

CEDAR FAIR, L.P.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIODS ENDED SEPTEMBER 24, 2017 AND SEPTEMBER 25, 2016

The accompanying unaudited condensed consolidated financial statements have been prepared from the financial records of Cedar Fair, L.P. (the Partnership) without audit and reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary to fairly present the results of the interim periods covered in this report. Due to the seasonal nature of the Partnership's amusement and water park operations, the results for any interim period may not be indicative of the results expected for the full fiscal year.

(1) Significant Accounting and Reporting Policies:

The Partnership’s unaudited condensed consolidated financial statements for the periods ended September 24, 2017 and September 25, 2016 included in this Form 10-Q report have been prepared in accordance with the accounting policies described in the Notes to Consolidated Financial Statements for the year ended December 31, 2016, which were included in the Form 10-K filed on February 24, 2017. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the Commission). These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K referred to above.

Adopted Accounting Pronouncements

In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"). The amendments in ASU 2016-09 are meant to simplify the current accounting for share-based payment transactions, specifically the accounting for income taxes, award classification, cash flow presentation, and accounting for forfeitures. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016. The Partnership adopted this guidance in the first quarter of 2017. The impact of the guidance included: (1) prospective recognition of excess tax benefits and tax deficiencies as income tax expense (as opposed to the previous recognition in additional paid-in-capital), approximately $0.7 million of excess tax benefits were recognized in provision for taxes for the nine months ended September 24, 2017; (2) prospective exclusion of future excess tax benefits and deficiencies in the calculation of diluted shares, which had an immaterial impact on net income per limited partner unit for the nine months ending September 24, 2017; (3) prospective classification of excess tax benefits as an operating activity within the statement of cash flows (as opposed to the previous classification as a financing activity), approximately $0.7 million of excess tax benefits were classified as an operating activity for the nine months ended September 24, 2017; (4) the formal accounting policy election to recognize forfeitures as they occur (as opposed to estimating a forfeiture accrual), which did not have a material impact on the Partnership's financial statements; (5) retrospective classification of employee taxes paid when an employer withholds shares for tax withholding purposes as a financing activity within the statement of cash flows (as opposed to the previous classification as an operating activity), approximately $0.9 million was reclassified for the nine months ended September 25, 2016.

New Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). The ASU provides for a single, principles-based model for revenue recognition that replaces the existing revenue recognition guidance. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017 and will replace most existing revenue recognition guidance under U.S. GAAP when it becomes effective. It permits the use of either a retrospective or modified retrospective transition method, and early adoption is permitted only as of an annual reporting period beginning after December 15, 2016, including interim reporting periods within that reporting period. The Partnership expects to adopt this standard in the first quarter of 2018 using the modified retrospective method. The Partnership anticipates the primary impact of the adoption on the consolidated financial statements will be the additional required disclosures around revenue recognition in the notes to the consolidated financial statements. The Partnership does not anticipate adoption of the standard to have a material effect on the consolidated financial statements.

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases ("ASU 2016-02"). The ASU requires the recognition of lease assets and lease liabilities within the balance sheet by lessees for operating leases, as well as requires additional disclosures in the consolidated financial statements regarding the amount, timing, and uncertainty of cash flows arising from leases. The ASU does not significantly change the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee, nor does the ASU change the accounting applied by a lessor. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018. This ASU requires a modified retrospective method and applies to the earliest period presented in the financial statements. The Partnership expects to adopt this standard in the first quarter of 2019. While the Partnership is still in the process of evaluating the effect this standard will have on the consolidated financial statements and related

7

disclosures, the Partnership anticipates recognizing a right-of-use asset and corresponding lease liability on the consolidated balance sheet for the Santa Clara land lease, as well as other operating leases, upon adoption.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 eliminates step two from the goodwill impairment test. Instead, an entity should recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual and any interim impairment tests for periods beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for annual and any interim impairment tests occurring after January 1, 2017. The Partnership has adopted the standard for its 2017 annual impairment test which is currently in process. The Partnership does not anticipate the adoption of the standard to have a material effect on the consolidated financial statements.

(2) Interim Reporting:

The Partnership owns and operates eleven amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels. The Partnership's seasonal amusement parks are generally open during weekends beginning in April or May, and then daily from Memorial Day until Labor Day, after which they are open during weekends in September and, in most cases, October. The two separately gated outdoor water parks also operate seasonally, generally from Memorial Day to Labor Day, plus some additional weekends before and after this period. As a result, a substantial portion of the Partnership’s revenues from these parks are generated during an approximate 130- to 140-day operating season with the major portion concentrated in the third quarter during the peak vacation months of July and August. In 2017, four of the seasonal properties will extend their operating seasons approximately 20 to 25 days to include WinterFest, a holiday event operating during November and December. Knott's Berry Farm continues to be open daily on a year-round basis. Castaway Bay is generally open daily from Memorial Day to Labor Day with an additional limited daily schedule for the balance of the year.

To assure that these highly seasonal operations will not result in misleading comparisons of current and subsequent interim periods, the Partnership has adopted the following accounting and reporting procedures for its seasonal parks: (a) revenues on multi-use products are recognized over the estimated number of uses expected for each type of product and are adjusted periodically during the operating season prior to the ticket or product expiration, which occurs no later than the close of the operating season, (b) depreciation, certain advertising and certain seasonal operating costs are expensed over each park’s operating season, including some costs incurred prior to the season, which are deferred and amortized over the season, and (c) all other costs are expensed as incurred or ratably over the entire year.

8

(3) Long-Lived Assets:

Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that would indicate that the carrying value of the assets may not be recoverable. In order to determine if an asset has been impaired, assets are grouped and tested at the lowest level for which identifiable, independent cash flows are available. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in equity price and market capitalization; a significant adverse change in legal factors or in the business climate; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of these assets and could have a material impact on the Partnership's consolidated financial statements.

The long-lived operating asset impairment test involves a two-step process. The first step is a comparison of each asset group's carrying value to its estimated undiscounted future cash flows expected to result from the use of the assets, including disposition. Projected future cash flows reflect management's best estimates of economic and market conditions over the projected period, including growth rates in revenues and costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates. If the carrying value of the asset group is higher than its undiscounted future cash flows, there is an indication that impairment exists and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the fair value of the asset group to its carrying value in a manner consistent with the highest and best use of those assets. The Partnership estimates fair value of operating assets using an income (discounted cash flows) approach, which uses an asset group's projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital reflective of current market conditions. If the fair value of the assets is less than their carrying value, an impairment charge is recorded for the difference.

Non-operating assets are evaluated for impairment based on changes in market conditions. When changes in market conditions are observed, impairment is estimated using a market-based approach. If the estimated fair value of the non-operating assets is less than their carrying value, an impairment charge is recorded for the difference.

During the third quarter of 2016, the Partnership ceased operations of one of its separately gated outdoor water parks, Wildwater Kingdom, located near Cleveland in Aurora, Ohio. At the date that Wildwater Kingdom ceased operations, the only remaining long-lived asset was the approximate 670 acres of land owned by the Partnership. This land had an associated carrying value of $17.1 million. The Partnership assessed the remaining asset and concluded there was no impairment during the third quarter of 2016. The remaining Wildwater Kingdom acreage, reduced by acreage sold, is classified as assets held-for-sale within "Other Assets" in the unaudited condensed consolidated balance sheet ($16.5 million as of September 24, 2017).

9

(4) Goodwill and Other Intangible Assets:

Goodwill and other indefinite-lived intangible assets, including trade-names, are reviewed for impairment annually, or more frequently if indicators of impairment exist. As of September 24, 2017, there were no indicators of impairment. The Partnership's annual testing date is the first day of the fourth quarter. There were no impairments for any period presented.

A summary of changes in the Partnership’s carrying value of goodwill for the nine months ended September 24, 2017 and September 25, 2016 is as follows:

(In thousands)	Goodwill (gross)		Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2016	$	259,528	$	(79,868	)	$	179,660
Foreign currency translation	5,350		—			5,350
Balance at September 24, 2017	$	264,878	$	(79,868	)	$	185,010
Balance at December 31, 2015	$	290,679	$	(79,868	)	$	210,811
Foreign currency translation	4,649		—			4,649
Balance at September 25, 2016	$	295,328	$	(79,868	)	$	215,460

During the fourth quarter of 2016, management reassessed its accounting for the deferred income tax effects related to its Canadian disregarded entity temporary differences that were recorded in purchase accounting at the time of the acquisition. As a result, to appropriately reflect these tax effects, the Partnership recorded an adjustment that reduced goodwill and deferred tax liabilities by $33.9 million as of December 31, 2016. The adjustment did not impact the statement of operations and comprehensive income or the statement of cash flows for any period presented.

As of September 24, 2017, December 31, 2016, and September 25, 2016, the Partnership’s other intangible assets consisted of the following:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
September 24, 2017
Other intangible assets:
Trade names	$	36,794	$	—		$	36,794
License / franchise agreements	3,361		(1,623		)	1,738
Total other intangible assets	$	40,155	$	(1,623	)	$	38,532
December 31, 2016
Other intangible assets:
Trade names	$	35,603	$	—		$	35,603
License / franchise agreements	3,326		(1,092		)	2,234
Total other intangible assets	$	38,929	$	(1,092	)	$	37,837
September 25, 2016
Other intangible assets:
Trade names	$	35,866	$	—		$	35,866
License / franchise agreements	1,475		(911		)	564
Total other intangible assets	$	37,341	$	(911	)	$	36,430

Amortization expense of other intangible assets is expected to continue to be immaterial going forward.

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(5) Long-Term Debt:

Long-term debt as of September 24, 2017, December 31, 2016, and September 25, 2016 consisted of the following:

(In thousands)	September 24, 2017			December 31, 2016			September 25, 2016
Term debt (1)
April 2017 U.S. term loan averaging 3.38% (due 2017-2024)	$	735,000		$	—		$	—
March 2013 U.S. term loan averaging 3.25% (due 2013-2020)	—			602,850			602,850
Notes
April 2017 U.S. fixed rate notes at 5.375% (due 2027)	500,000			—			—
June 2014 U.S. fixed rate notes at 5.375% (due 2024)	450,000			450,000			450,000
March 2013 U.S. fixed rate notes at 5.25% (due 2021)	—			500,000			500,000
	1,685,000			1,552,850			1,552,850
Less current portion	—			(2,775		)	(1,200		)
	1,685,000			1,550,075			1,551,650
Less debt issuance costs	(25,374		)	(15,864		)	(16,979		)
	$	1,659,626		$	1,534,211		$	1,534,671

(1) The average interest rate is calculated over the life of the instrument and does not reflect the effect of interest rate swap agreements (see Note 6).

In April 2017, the Partnership issued $500 million of 5.375% senior unsecured notes ("April 2017 notes"), maturing in 2027. The net proceeds from the offering of the April 2017 notes, together with borrowings under the 2017 Credit Agreement (defined below), were used to redeem all of the Partnership's 5.25% senior unsecured notes due 2021 ("March 2013 notes"), and pay accrued interest and transaction fees and expenses, to repay in full all amounts outstanding under its existing credit facilities and for general corporate purposes. The redemption of the March 2013 notes and repayments of the amounts outstanding under the existing credit facilities resulted in the write-off of debt issuance costs of $7.6 million and debt premium payments of $15.5 million. Accordingly, the Partnership recorded a loss on debt extinguishment of $23.1 million during the second quarter of 2017.

Concurrently with the April 2017 notes issuance, the Partnership amended and restated its existing $885 million credit agreement (the "2013 Credit Agreement"), which included a $630 million senior secured term loan facility and a $255 million senior secured revolving credit facility. The $1,025 million amended and restated credit agreement (the "2017 Credit Agreement") includes a $750 million senior secured term loan facility and a $275 million senior secured revolving credit facility. The terms of the senior secured term loan facility include a maturity date of April 15, 2024 and an interest rate of London InterBank Offered Rate ("LIBOR") plus 225 basis points (bps). The term loan amortizes at $7.5 million annually. The facilities provided under the 2017 Credit Agreement are collateralized by substantially all of the assets of the Partnership.

Terms of the 2017 Credit Agreement include a revolving credit facility of a combined $275 million with a Canadian sub-limit of $15 million. Borrowings under the senior secured revolving credit facility bear interest at LIBOR or Canadian Dollar Offered Rate ("CDOR") plus 200 bps. The revolving credit facility is scheduled to mature in April 2022 and also provides for the issuance of documentary and standby letters of credit. The 2017 Credit Agreement requires the payment of a 37.5 bps commitment fee per annum on the unused portion of the credit facilities.

The April 2017 notes pay interest semi-annually in April and October, with the principal due in full on April 15, 2027. Prior to April 15, 2020, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.375% of the principal amount thereof, together with accrued and unpaid interest and additional interest, if any. The notes may be redeemed, in whole or in part, at any time prior to April 15, 2022 at a price equal to 100% of the principal amount of the notes redeemed plus a "make-whole" premium together with accrued and unpaid interest and additional interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed.

In June 2014, the Partnership issued $450 million of 5.375% senior unsecured notes ("June 2014 notes"), maturing in 2024. The Partnership's June 2014 notes pay interest semi-annually in June and December, with the principal due in full on June 1, 2024. The notes may be redeemed, in whole or in part, at any time prior to June 1, 2019 at a price equal to 100% of the principal amount of the notes redeemed together plus a "make-whole" premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed.

11

The 2017 Credit Agreement includes a Consolidated Leverage Ratio, which if breached for any reason and not cured could result in an event of default. The ratio is set at a maximum of 5.50x consolidated total debt-to-consolidated EBITDA. As of September 24, 2017, the Partnership was in compliance with this financial condition covenant and all other covenants under the 2017 Credit Agreement.

The Partnership's long-term debt agreements include Restricted Payment provisions. Pursuant to the terms of the indenture governing the Partnership's June 2014 notes, which includes the most restrictive of these Restricted Payments provisions, the Partnership can make Restricted Payments of $60 million annually so long as no default or event of default has occurred and is continuing; and the Partnership's ability to make additional Restricted Payments is permitted should the Partnership's pro forma Total-Indebtedness-to-Consolidated-Cash-Flow Ratio be less than or equal to 5.00x.

As market conditions warrant, the Partnership may from time to time repurchase debt securities issued by the Partnership, in privately negotiated or open market transactions, by tender offer, exchange offer or otherwise.

(6) Derivative Financial Instruments:

Derivative financial instruments are used within the Partnership’s overall risk management program to manage certain interest rate and foreign currency risks. By utilizing a derivative instrument to hedge exposure to LIBOR rate changes, the Partnership is exposed to counterparty credit risk, in particular the failure of the counterparty to perform under the terms of the derivative contract. To mitigate this risk, hedging instruments are placed with a counterparty that the Partnership believes poses minimal credit risk. The Partnership does not use derivative financial instruments for trading purposes.

In the first quarter of 2016, the Partnership amended each of its four interest rate swap agreements to extend each of the maturities by two years to December 31, 2020 and effectively convert $500 million of variable-rate debt to a rate of 2.64%. As a result of the amendments, the previously existing interest rate swap agreements were de-designated, and the amounts recorded in AOCI are being amortized into earnings through the original December 31, 2018 maturity. The amended interest rate swap agreements are not designated as hedging instruments.

The fair market value of the Partnership's swap portfolio was recorded within "Derivative Liability" on the unaudited condensed consolidated balance sheets as of September 24, 2017, December 31, 2016, and September 25, 2016 as follows:

(In thousands)	September 24, 2017			December 31, 2016			September 25, 2016
Derivatives not designated as hedging instruments:
Interest rate swaps	$	(14,849	)	$	(17,721	)	$	(30,185	)

Derivatives Designated as Hedging Instruments

Changes in fair value of highly effective hedges are recorded as a component of AOCI in the balance sheet. Any ineffectiveness is recognized immediately in income. Amounts recorded as a component of accumulated other comprehensive income are reclassified into earnings in the same period the forecasted transactions affect earnings. As a result of the first quarter of 2016 amendments, the previously existing interest rate swap agreements were de-designated and the amended interest rate swap agreements are not designated as hedging instruments. As of September 24, 2017, the Partnership has no designated derivatives; therefore, no amount of designated derivatives are forecasted to be reclassified into earnings in the next twelve months.

Derivatives Not Designated as Hedging Instruments

Instruments that do not qualify for hedge accounting or were de-designated are prospectively adjusted to fair value each reporting period through "Net effect of swaps" in the unaudited condensed consolidated statements of operations and comprehensive income. The amounts that were previously recorded as a component of AOCI prior to the de-designation are reclassified to earnings, and a corresponding realized gain or loss will be recognized when the forecasted cash flow occurs. As a result of the first quarter 2016 amendments, the previously existing interest rate swap agreements were de-designated, and the amounts previously recorded in AOCI are being amortized into earnings through the original December 31, 2018 maturity. As of September 24, 2017, approximately $11.8 million of losses remain in AOCI related to the effective cash flow hedge contracts prior to de-designation, $9.5 million of which will be reclassified to earnings within the next twelve months.

12

The following table summarizes the effect of derivative instruments on income and other comprehensive income for the three months ended September 24, 2017 and September 25, 2016:

(In thousands)	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)				Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)					Amount and Location of Gain (Loss) Recognized in Income on Derivatives
Designated Derivatives	Three months ended 9/24/2017		Three months ended 9/25/2016		Designated Derivatives	Three months ended 9/24/2017		Three months ended 9/25/2016		Derivatives Not Designated	Three months ended 9/24/2017		Three months ended 9/25/2016
Interest rate swaps	$	—	$	—	Interest Expense	$	—	$	—	Net effect of swaps	$	3,318	$	715

During the quarter ended September 24, 2017, the Partnership recognized $3.3 million of gains on the derivatives not designated as cash flow hedges and $2.4 million of expense representing the regular amortization of amounts in AOCI. The effect of these amounts resulted in a benefit to earnings of $1.0 million recorded in “Net effect of swaps.”

During the quarter ended September 25, 2016, the Partnership recognized $0.7 million of gains on the derivatives not designated as cash flow hedges and $2.4 million of expense representing the amortization of amounts in AOCI. The effect of these amounts resulted in a charge to earnings of $1.7 million recorded in “Net effect of swaps.”

The following table summarizes the effect of derivative instruments on income and other comprehensive income for the nine months ended September 24, 2017 and September 25, 2016:

(In thousands)	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)					Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivatives
Designated Derivatives	Nine months ended 9/24/2017		Nine months ended 9/25/2016			Designated Derivatives	Nine months ended 9/24/2017		Nine months ended 9/25/2016			Derivatives Not Designated	Nine months ended 9/24/2017		Nine months ended 9/25/2016
Interest rate swaps	$	—	$	(4,671	)	Interest Expense	$	—	$	(851	)	Net effect of swaps	$	3,378	$	(2,596	)

During the nine-month period ended September 24, 2017, the Partnership recognized $3.4 million of gains on the derivatives not designated as cash flow hedges and $7.1 million of expense representing the regular amortization of amounts in AOCI. The effect of these amounts resulted in a charge to earnings of $3.7 million recorded in “Net effect of swaps.”

During the nine-month period ended September 25, 2016, the Partnership recognized $2.6 million of losses on the derivatives not designated as cash flow hedges and $6.3 million of expense representing the amortization of amounts in AOCI. The effect of these amounts resulted in a charge to earnings of $8.9 million recorded in “Net effect of swaps.”

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(7) Fair Value Measurements:

The FASB's Accounting Standards Codification (ASC) 820 - Fair Value Measurements and Disclosures emphasizes that fair value is a market-based measurement that should be determined based on assumptions (inputs) that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable, and valuation techniques used to measure fair value should maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Accordingly, FASB ASC 820 establishes a hierarchal disclosure framework that ranks the quality and reliability of information used to determine fair values. The hierarchy is associated with the level of pricing observability utilized in measuring fair value and defines three levels of inputs to the fair value measurement process. Quoted prices are the most reliable valuation inputs, whereas model values that include inputs based on unobservable data are the least reliable. Each fair value measurement must be assigned to a level corresponding to the lowest level input that is significant to the fair value measurement in its entirety.

The three broad levels of inputs defined by the fair value hierarchy are as follows:

• Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The table below presents the balances of assets and liabilities measured at fair value as of September 24, 2017, December 31, 2016, and September 25, 2016 on a recurring basis as well as the fair values of other financial instruments:

(In thousands)	Unaudited Condensed  Consolidated Balance Sheet Location	Fair Value Hierarchy Level	September 24, 2017						December 31, 2016						September 25, 2016
			Carrying Value			Fair  Value			Carrying Value			Fair  Value			Carrying Value			Fair  Value
Financial assets (liabilities) measured on a recurring basis:
Short-term investments	Other current assets	Level 1	$	688		$	688		—			—			—			—
Interest rate swap agreements not designated as cash flow hedges	Derivative Liability	Level 2	$	(14,849	)	$	(14,849	)	$	(17,721	)	$	(17,721	)	$	(30,185	)	$	(30,185	)
Other financial assets (liabilities):
March 2013 term debt	Long-Term Debt (1)	Level 2	—			—			$	(600,075	)	$	(603,075	)	$	(601,650	)	$	(603,154	)
April 2017 term debt	Long-Term Debt (1)	Level 2	$	(735,000	)	$	(740,513	)	—			—			—			—
March 2013 notes	Long-Term Debt (1)	Level 1	—			—			$	(500,000	)	$	(510,000	)	$	(500,000	)	$	(520,000	)
June 2014 notes	Long-Term Debt (1)	Level 1	$	(450,000	)	$	(472,500	)	$	(450,000	)	$	(462,375	)	$	(450,000	)	$	(477,000	)
April 2017 notes	Long-Term Debt (1)	Level 2	$	(500,000	)	$	(527,500	)	—			—			—			—

(1) Carrying values of long-term debt balances are before reductions for debt issuance costs of $25.4 million, $15.9 million, and $17.0 million as of September 24, 2017, December 31, 2016, and September 25, 2016, respectively.

Fair values of the interest rate swap agreements are determined using significant inputs, including the LIBOR forward curves, which are considered Level 2 observable market inputs.

The carrying value of cash and cash equivalents, revolving credit loans, accounts receivable, current portion of term debt, accounts payable, and accrued liabilities approximates fair value because of the short maturity of these instruments. There were no assets measured at fair value on a non-recurring basis as of September 24, 2017, December 31, 2016, or September 25, 2016.

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(8) Earnings per Unit:

Net income per limited partner unit is calculated based on the following unit amounts:

	Three months ended				Nine months ended
	9/24/2017		9/25/2016		9/24/2017		9/25/2016
	(In thousands, except per unit amounts)
Basic weighted average units outstanding	56,078		55,948		56,062		55,922
Effect of dilutive units:
Deferred units	44		33		41		30
Performance units	—		—		48		43
Restricted units	284		253		292		266
Unit options	185		131		188		131
Diluted weighted average units outstanding	56,591		56,365		56,631		56,392
Net income per unit - basic	$	3.41	$	3.13	$	2.82	$	3.30
Net income per unit - diluted	$	3.38	$	3.10	$	2.79	$	3.27

(9) Income and Partnership Taxes:

Under the applicable accounting rules, income taxes are recognized for the amount of taxes payable by the Partnership’s corporate subsidiaries for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. The income tax provision (benefit) for interim periods is determined by applying an estimated annual effective tax rate to the quarterly income (loss) of the Partnership’s corporate subsidiaries. In addition to income taxes on its corporate subsidiaries, the Partnership is subject to a publicly traded partnership tax (PTP tax) on partnership-level gross income (net revenues less cost of food, merchandise and games). As such, the Partnership’s total provision (benefit) for taxes includes amounts for both the PTP tax and for income taxes on its subsidiaries.

As of the end of the third quarter of 2017, the Partnership has recorded $0.7 million of unrecognized tax benefits including interest and/or penalties related to state and local tax filing positions. The Partnership recognizes interest and/or penalties related to unrecognized tax benefits in the income tax provision. The Partnership does not anticipate that the balance of the unrecognized tax benefit will change significantly over the next 12 months.

(10) Contingencies:

The Partnership is a party to a number of lawsuits arising in the normal course of business. In the opinion of management, none of these matters are expected to have a material effect in the aggregate on the Partnership's financial statements.

15

(11) Changes in Accumulated Other Comprehensive Income by Component:

The following tables reflect the changes in accumulated other comprehensive income related to limited partners' equity for the three months ended September 24, 2017 and September 25, 2016:

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at June 25, 2017	$	(11,963	)	$	16,949		$	4,986
Other comprehensive income before reclassifications	—			(11,143		)	(11,143		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($371) (2)	1,994			—			1,994
Net other comprehensive income	1,994			(11,143		)	(9,149		)
Balance at September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation		Total
Balance at June 26, 2016	$	(19,938	)	$	15,747	$	(4,191	)
Other comprehensive income before reclassifications, net of tax ($803)	—			1,397		1,397
Amounts reclassified from accumulated other comprehensive income, net of tax ($371) (2)	1,994			—		1,994
Net other comprehensive income	1,994			1,397		3,391
Balance at September 25, 2016	$	(17,944	)	$	17,144	$	(800	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement Where Net Income is Presented
(In thousands)	Three months ended 9/24/2017			Three months ended 9/25/2016
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(371		)	(371		)	Provision for taxes
Losses on cash flow hedges	$	1,994		$	1,994		Net of tax

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The following tables reflect the changes in accumulated other comprehensive income related to limited partners' equity for the nine months ended September 24, 2017 and September 25, 2016:

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at December 31, 2016	$	(15,950	)	$	18,891		$	2,941
Other comprehensive income before reclassifications	—			(13,085		)	(13,085		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,113) (2)	5,981			—			5,981
Net other comprehensive income	5,981			(13,085		)	(7,104		)
Balance at September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at December 31, 2015	$	(19,300	)	$	22,591		$	3,291
Other comprehensive income before reclassifications, net of tax $711 and $3,131, respectively	(3,960		)	(5,447		)	(9,407		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($990) (2)	5,316			—			5,316
Net other comprehensive income	1,356			(5,447		)	(4,091		)
Balance at September 25, 2016	$	(17,944	)	$	17,144		$	(800	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement Where Net Income is Presented
(In thousands)	Nine months ended 9/24/2017			Nine months ended 9/25/2016
Interest rate contracts	$	7,094		$	6,306		Net effect of swaps
Provision for taxes	(1,113		)	(990		)	Provision for taxes
Losses on cash flow hedges	$	5,981		$	5,316		Net of tax

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(12) Consolidating Financial Information of Guarantors and Issuers:

Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), and Magnum Management Corporation ("Magnum") are the co-issuers of the Partnership's June 2014 notes (see Note 5). The notes have been fully and unconditionally guaranteed, on a joint and several basis, by each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum) that guarantees the Partnership's senior secured credit facilities. There are no non-guarantor subsidiaries.

The following consolidating schedules present condensed financial information for Cedar Fair, L.P., Cedar Canada, and Magnum, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum), the guarantors (on a combined basis), as of September 24, 2017, December 31, 2016, and September 25, 2016 and for the three-month and nine-month periods ended September 24, 2017 and September 25, 2016. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the Partnership has included the accompanying unaudited condensed consolidating financial statements.

18

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	92,047	$	160,593	$	(2,694	)	$	249,946
Receivables	—		1,285		33,158		837,594		(819,734		)	52,303
Inventories	—		—		2,423		31,817		—			34,240
Other current assets	275		12,843		743		16,829		(12,066		)	18,624
	275		14,128		128,371		1,046,833		(834,494		)	355,113
Property and Equipment, net	—		842		183,205		1,396,463		—			1,580,510
Investment in Park	566,548		1,016,857		224,464		222,953		(2,030,822		)	—
Goodwill	674		—		64,730		119,606		—			185,010
Other Intangibles, net	—		—		14,443		24,089		—			38,532
Deferred Tax Asset	—		32,190		—		—		(32,190		)	—
Other Assets	—		—		53		17,354		—			17,407
	$	567,497	$	1,064,017	$	615,266	$	2,827,298	$	(2,897,506	)	$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	478,416	$	345,150	$	6,431	$	26,141	$	(822,428	)	$	33,710
Deferred revenue	—		—		7,137		79,595		—			86,732
Accrued interest	292		195		9,209		14,232		—			23,928
Accrued taxes	1,589		—		14,910		74,224		(12,066		)	78,657
Accrued salaries, wages and benefits	—		28,306		2,360		—		—			30,666
Self-insurance reserves	—		12,090		1,725		13,734		—			27,549
Other accrued liabilities	2,985		7,772		499		9,306		—			20,562
	483,282		393,513		42,271		217,232		(834,494		)	301,804
Deferred Tax Liability	—		—		19,511		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—			14,849
Other Liabilities	—		1,398		—		10,942		—			12,340
Long-Term Debt:
Term debt	—		127,402		—		595,983		—			723,385
Notes	—		—		444,874		491,367		—			936,241
	—		127,402		444,874		1,087,350		—			1,659,626
Equity	75,282		535,788		108,610		1,386,424		(2,030,822		)	75,282
	$	567,497	$	1,064,017	$	615,266	$	2,827,298	$	(2,897,506	)	$	2,176,572

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CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	65,563	$	58,178	$	(1,025	)	$	122,716
Receivables	—		1,409		28,019		576,975		(570,989		)	35,414
Inventories	—		—		1,371		24,905		—			26,276
Other current assets	173		796		2,229		9,833		(1,761		)	11,270
	173		2,205		97,182		669,891		(573,775		)	195,676
Property and Equipment, net	—		844		175,358		1,363,018		—			1,539,220
Investment in Park	798,076		937,626		200,075		324,282		(2,260,059		)	—
Goodwill	674		—		59,381		119,605		—			179,660
Other Intangibles, net	—		—		13,255		24,582		—			37,837
Deferred Tax Asset	—		33,303		—		—		(33,303		)	—
Other Assets	—		2,000		108		18,680		—			20,788
	$	798,923	$	975,978	$	545,359	$	2,520,058	$	(2,867,137	)	$	1,973,181
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	572	$	64	$	2,139	$	—		2,775
Accounts payable	428,396		145,258		740		18,471		(572,014		)	20,851
Deferred revenue	—		—		5,601		77,164		—			82,765
Accrued interest	4,613		3,207		2,057		109		—			9,986
Accrued taxes	405		18,653		—		41,661		(1,761		)	58,958
Accrued salaries, wages and benefits	—		29,227		1,131		—		—			30,358
Self-insurance reserves	—		12,490		1,321		13,252					27,063
Other accrued liabilities	2,282		3,018		193		4,434		—			9,927
	435,696		212,425		11,107		157,230		(573,775		)	242,683
Deferred Tax Liability	—		—		12,838		125,350		(33,303		)	104,885
Derivative Liability	10,633		7,088		—		—		—			17,721
Other Liabilities	—		1,236		—		11,926		—			13,162
Long-Term Debt:
Term debt	—		123,672		13,598		456,958		—			594,228
Notes	292,075		203,140		444,768		—		—			939,983
	292,075		326,812		458,366		456,958		—			1,534,211
Equity	60,519		428,417		63,048		1,768,594		(2,260,059		)	60,519
	$	798,923	$	975,978	$	545,359	$	2,520,058	$	(2,867,137	)	$	1,973,181

20

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	—	$	75,562	$	111,740	$	—		$	187,302
Receivables	(5		)	1,387		24,964		585,190		(560,000		)	51,536
Inventories	—			—		1,519		29,540		—			31,059
Other current assets	275			24,479		680		12,800		(24,425		)	13,809
	270			25,866		102,725		739,270		(584,425		)	283,706
Property and Equipment, net	—			876		179,172		1,345,992		—			1,526,040
Investment in Park	820,465			963,870		197,538		347,137		(2,329,010		)	—
Goodwill	674			—		95,180		119,606		—			215,460
Other Intangibles, net	—			—		13,519		22,911		—			36,430
Deferred Tax Asset	—			3,651		—		—		(3,651		)	—
Other Assets	—			1,999		123		19,351		—			21,473
	$	821,409		$	996,262	$	588,257	$	2,594,267	$	(2,917,086	)	$	2,083,109
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	247	$	28	$	925	$	—		$	1,200
Accounts payable	399,384			164,335		1,342		27,830		(560,000		)	32,891
Deferred revenue	—			—		5,091		60,657		—			65,748
Accrued interest	875			597		7,784		1,683		—			10,939
Accrued taxes	3,325			—		14,109		76,907		(24,425		)	69,916
Accrued salaries, wages and benefits	—			40,588		2,156		—		—			42,744
Self-insurance reserves	—			12,394		1,567		12,859		—			26,820
Other accrued liabilities	2,358			3,532		510		5,948		—			12,348
	405,942			221,693		32,587		186,809		(584,425		)	262,606
Deferred Tax Liability	—			—		19,497		121,866		(3,651		)	137,712
Derivative Liability	18,111			12,074		—		—		—			30,185
Other Liabilities	—			1,520		—		10,968		—			12,488
Long-Term Debt:
Term debt	—			123,996		13,616		457,641		—			595,253
Notes	291,909			203,025		444,484		—		—			939,418
	291,909			327,021		458,100		457,641		—			1,534,671
Equity	105,447			433,954		78,073		1,816,983		(2,329,010		)	105,447
	$	821,409		$	996,262	$	588,257	$	2,594,267	$	(2,917,086	)	$	2,083,109

21

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	69,999		$	169,429		$	85,963		$	596,837		$	(269,539	)	$	652,689
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			7,735			44,912			—			52,647
Operating expenses	—			118,614			19,627			334,008			(269,539		)	202,710
Selling, general and administrative	327			21,752			4,539			45,045			—			71,663
Depreciation and amortization	—			9			7,856			62,195			—			70,060
Loss on impairment / retirement of fixed assets, net	—			—			87			1,260			—			1,347
Gain on sale of investment	—			(1,877		)	—			—			—			(1,877		)
	327			138,498			39,844			487,420			(269,539		)	396,550
Operating income	69,672			30,931			46,119			109,417			—			256,139
Interest expense, net	4,857			4,305			6,152			5,973			—			21,287
Net effect of swaps	(578		)	(374		)	—			—			—			(952		)
Gain on foreign currency	—			(27		)	(29,166		)	—			—			(29,193		)
Other (income) expense	62			(26,676		)	1,163			25,386			—			(65		)
Income from investment in affiliates	(132,699		)	(98,522		)	(16,843		)	(58,378		)	306,442			—
Income before taxes	198,030			152,225			84,813			136,436			(306,442		)	265,062
Provision for taxes	6,715			19,526			26,432			21,074			—			73,747
Net income	$	191,315		$	132,699		$	58,381		$	115,362		$	(306,442	)	$	191,315
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143		)	—			(11,143		)	—			11,143			(11,143		)
Unrealized gain on cash flow hedging derivatives	1,994			605			—			—			(605		)	1,994
Other comprehensive income (loss), (net of tax)	(9,149		)	605			(11,143		)	—			10,538			(9,149		)
Total comprehensive income	$	182,166		$	133,304		$	47,238		$	115,362		$	(295,904	)	$	182,166

22

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,371		$	172,703		$	77,164		$	606,823		$	(298,778	)	$	650,283
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			6,417			45,640			—			52,057
Operating expenses	(10		)	119,140			17,885			361,055			(298,778		)	199,292
Selling, general and administrative	610			21,412			4,413			38,664			—			65,099
Depreciation and amortization	—			9			7,624			57,052			—			64,685
Loss on impairment / retirement of fixed assets, net	—			—			57			1,298			—			1,355
	600			140,561			36,396			503,709			(298,778		)	382,488
Operating income	91,771			32,142			40,768			103,114			—			267,795
Interest expense, net	7,984			5,759			6,323			833			—			20,899
Net effect of swaps	959			691			—			—			—			1,650
Loss on foreign currency	—			—			7,337			4			—			7,341
Other (income) expense	62			(29,663		)	1,302			28,299			—			—
Income from investment in affiliates	(98,451		)	(62,240		)	(12,574		)	(28,737		)	202,002			—
Income before taxes	181,217			117,595			38,380			102,715			(202,002		)	237,905
Provision for taxes	6,230			19,142			9,643			27,903			—			62,918
Net income	$	174,987		$	98,453		$	28,737		$	74,812		$	(202,002	)	$	174,987
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	1,397			—			1,397			—			(1,397		)	1,397
Unrealized gain on cash flow hedging derivatives	1,994			606			—			—			(606		)	1,994
Other comprehensive income (loss), (net of tax)	3,391			606			1,397			—			(2,003		)	3,391
Total comprehensive income	$	178,378		$	99,059		$	30,134		$	74,812		$	(204,005	)	$	178,378

23

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,672		$	262,739		$	114,141		$	1,019,399		$	(395,146	)	$	1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			10,569			81,807			—			92,376
Operating expenses	—			248,047			37,701			556,777			(395,146		)	447,379
Selling, general and administrative	2,254			51,358			8,592			88,938			—			151,142
Depreciation and amortization	—			26			12,869			113,342			—			126,237
Loss on impairment / retirement of fixed assets, net	—			—			542			2,515			—			3,057
Gain on sale of investment	—			(1,877		)	—			—			—			(1,877		)
	2,254			297,554			70,273			843,379			(395,146		)	818,314
Operating income (loss)	90,418			(34,815		)	43,868			176,020			—			275,491
Interest expense, net	18,285			13,893			18,317			11,578			—			62,073
Net effect of swaps	2,162			1,555			—			—			—			3,717
Loss on early debt extinguishment	11,773			8,188			198			2,956			—			23,115
Gain on foreign currency	—			(27		)	(35,020		)	—			—			(35,047		)
Other (income) expense	187			(56,623		)	2,640			53,731			—			(65		)
Income from investment in affiliates	(108,835		)	(109,414		)	(24,389		)	(58,648		)	301,286			—
Income before taxes	166,846			107,613			82,122			166,403			(301,286		)	221,698
Provision (benefit) for taxes	8,917			(1,223		)	23,473			32,602			—			63,769
Net income	$	157,929		$	108,836		$	58,649		$	133,801		$	(301,286	)	$	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(13,085		)	—			(13,085		)	—			13,085			(13,085		)
Unrealized gain on cash flow hedging derivatives	5,981			1,816			—			—			(1,816		)	5,981
Other comprehensive income (loss), (net of tax)	(7,104		)	1,816			(13,085		)	—			11,269			(7,104		)
Total comprehensive income	$	150,825		$	110,652		$	45,564		$	133,801		$	(290,017	)	$	150,825

24

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	131,215		$	271,069		$	107,637		$	1,036,162		$	(449,328	)	$	1,096,755
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,389			83,471			—			92,860
Operating expenses	2			246,624			36,249			607,874			(449,328		)	441,421
Selling, general and administrative	2,264			49,307			8,757			81,754			—			142,082
Depreciation and amortization	—			27			13,022			105,126			—			118,175
Loss on impairment / retirement of fixed assets, net	—			—			83			5,299			—			5,382
	2,266			295,958			67,500			883,524			(449,328		)	799,920
Operating income (loss)	128,949			(24,889		)	40,137			152,638			—			296,835
Interest expense, net	23,776			17,830			18,672			1,507			—			61,785
Net effect of swaps	5,617			3,285			—			—			—			8,902
(Gain) loss on foreign currency	—			—			(23,679		)	4			—			(23,675		)
Other (income) expense	187			(69,801		)	3,051			66,563			—			—
Income from investment in affiliates	(94,910		)	(78,515		)	(18,008		)	(44,399		)	235,832			—
Income before taxes	194,279			102,312			60,101			128,963			(235,832		)	249,823
Provision for taxes	9,795			7,403			15,701			32,440			—			65,339
Net income	$	184,484		$	94,909		$	44,400		$	96,523		$	(235,832	)	$	184,484
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,447		)	—			(5,447		)	—			5,447			(5,447		)
Unrealized gain on cash flow hedging derivatives	1,356			455			—			—			(455		)	1,356
Other comprehensive income (loss), (net of tax)	(4,091		)	455			(5,447		)	—			4,992			(4,091		)
Total comprehensive income	$	180,393		$	95,364		$	38,953		$	96,523		$	(230,840	)	$	180,393

25

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	61,966		$	(3,954	)	$	40,125		$	227,588		$	(3,107	)	$	322,618
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(248,190		)	248,190			—
Proceeds from returns on investments	338,000			15,500			—			146,500			(500,000		)	—
Proceeds from sale of investment	—			3,281			—			—			—			3,281
Purchase of identifiable intangible assets	—			—			—			(66		)	—			(66		)
Capital expenditures	—			(25		)	(5,679		)	(146,669		)	—			(152,373		)
Net cash from (for) investing activities	338,000			18,756			(5,679		)	(248,425		)	(251,810		)	(149,158		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	50,003			198,187			—			—			(248,190		)	—
Payments for returns of capital	—			—			—			(500,000		)	500,000			—
Term debt borrowings	—			131,000			—			619,000			—			750,000
Note borrowings	—			—			—			500,000			—			500,000
Term debt payments	—			(126,619		)	(13,854		)	(477,377		)	—			(617,850		)
Note payments, including amounts paid for early termination	(304,014		)	(211,444		)	—			—			—			(515,458		)
Distributions paid to partners	(145,955		)	—			—			—			1,438			(144,517		)
Payment of debt issuance costs	—			(1,313		)	—			(18,371		)	—			(19,684		)
Tax effect of units involved in treasury unit transactions	—			(2,560		)	—			—			—			(2,560		)
Payments related to tax withholding for equity compensation	—			(2,053		)	—			—			—			(2,053		)
Net cash from (for) financing activities	(399,966		)	(14,802		)	(13,854		)	123,252			253,248			(52,122		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			5,892			—			—			5,892
CASH AND CASH EQUIVALENTS
Net increase for the period	—			—			26,484			102,415			(1,669		)	127,230
Balance, beginning of period	—			—			65,563			58,178			(1,025		)	122,716
Balance, end of period	$	—		$	—		$	92,047		$	160,593		$	(2,694	)	$	249,946

26

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	99,232		$	(54,042	)	$	41,273		$	256,105		$	(1,866	)	$	340,702
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(22,771		)	22,771			—
Capital expenditures	—			—			(6,451		)	(120,413		)	—			(126,864		)
Net cash for investing activities	—			—			(6,451		)	(143,184		)	22,771			(126,864		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt payments	—			(1,237		)	(138		)	(4,625		)	—			(6,000		)
Distributions paid to partners	(140,908		)	—			—			—			1,866			(139,042		)
Intercompany payables (payments) receipts	(35,331		)	58,102			—			—			(22,771		)	—
Tax effect of units involved in treasury unit transactions	—			(1,903		)	—			—			—			(1,903		)
Payments related to tax withholding for equity compensation	—			(920		)	—			—			—			(920		)
Net cash from (for) financing activities	(176,239		)	54,042			(138		)	(4,625		)	(20,905		)	(147,865		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			1,772			—			—			1,772
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(77,007		)	—			36,456			108,296			—			67,745
Balance, beginning of period	77,007			—			39,106			3,444			—			119,557
Balance, end of period	$	—		$	—		$	75,562		$	111,740		$	—		$	187,302

27

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

Business Overview:

We generate our revenues primarily from sales of (1) admission to our parks, (2) food, merchandise and games inside our parks, and (3) hotel rooms, extra-charge attractions, and food and other attractions both inside and outside our parks. Our principal costs and expenses, which include salaries and wages, advertising, maintenance, operating supplies, utilities, and insurance, are relatively fixed and do not vary significantly with attendance.

Each of our properties is overseen by a park general manager and operates autonomously. Management reviews operating results, evaluates performance and makes operating decisions, including allocating resources, on a property-by-property basis.

Along with attendance and per capita statistics, discrete financial information and operating results are prepared at the individual park level for use by the CEO, who is the Chief Operating Decision Maker (CODM), as well as by the Chief Financial Officer, the Chief Operating Officer, the Executive Vice President - Operations, Regional Vice Presidents and the park general managers.

Critical Accounting Policies:

Management’s discussion and analysis of financial condition and results of operations is based upon our unaudited condensed consolidated financial statements, which were prepared in accordance with accounting principles generally accepted in the United States of America. These principles require us to make judgments, estimates and assumptions during the normal course of business that affect the amounts reported in the unaudited condensed consolidated financial statements. Actual results could differ significantly from those estimates under different assumptions and conditions.

Management believes that judgment and estimates related to the following critical accounting policies could materially affect our consolidated financial statements:

•Impairment of Long-Lived Assets

•Goodwill and Other Intangible Assets

•Self-Insurance Reserves

•Derivative Financial Instruments

•Revenue Recognition

• Income Taxes

In the third quarter of 2017, there were no changes in the above critical accounting policies from those previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2016.

28

Adjusted EBITDA:

We believe that Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other non-cash items, and adjustments as defined in the 2017 Credit Agreement and the 2013 Credit Agreement) is a meaningful measure as it is widely used by analysts, investors and comparable companies in our industry to evaluate our operating performance on a consistent basis, as well as more easily compare our results with those of other companies in our industry. Further, management believes Adjusted EBITDA is a meaningful measure of park-level operating profitability and we use it for measuring returns on capital investments, evaluating potential acquisitions, determining awards under incentive compensation plans, and calculating compliance with certain loan covenants. Adjusted EBITDA is provided in the discussion of results of operations that follows as a supplemental measure of our operating results and is not intended to be a substitute for operating income, net income or cash flows from operating activities as defined under generally accepted accounting principles. In addition, Adjusted EBITDA may not be comparable to similarly titled measures of other companies.

The table below sets forth a reconciliation of Adjusted EBITDA to net income for the three- and nine-month periods ended September 24, 2017 and September 25, 2016.

	Three months ended						Nine months ended
(In thousands)	9/24/2017			9/25/2016			9/24/2017			9/25/2016
Net income	$	191,315		$	174,987		$	157,929		$	184,484
Interest expense	21,638			20,957			62,472			61,869
Interest income	(351		)	(58		)	(399		)	(84		)
Provision for taxes	73,747			62,918			63,769			65,339
Depreciation and amortization	70,060			64,685			126,237			118,175
EBITDA	356,409			323,489			410,008			429,783
Loss on early debt extinguishment	—			—			23,115			—
Net effect of swaps	(952		)	1,650			3,717			8,902
Non-cash foreign currency (gain) loss	(29,156		)	7,360			(34,985		)	(23,535		)
Non-cash equity compensation expense	3,126			2,160			9,728			6,909
Loss on impairment / retirement of fixed assets, net	1,347			1,355			3,057			5,382
Gain on sale of investment	(1,877		)	—			(1,877		)	—
Employment practice litigation costs	4,696			—			4,696			—
Other (1)	49			1			397			341
Adjusted EBITDA	$	333,642		$	336,015		$	417,856		$	427,782

(1) Consists of certain costs as defined in the Company's 2017 Credit Agreement and prior credit agreements. These items are excluded in the calculation of Adjusted EBITDA and have included certain legal expenses, costs associated with certain ride abandonment or relocation expenses, and severance expenses. This balance also includes unrealized gains and losses on short-term investments.

29

Results of Operations:

We believe the following are significant measures in the structure of our management and operational reporting, and they are used as major factors in key operational decisions:

Attendance is defined as the number of guest visits to our amusement parks and separately gated outdoor water parks.

In-park per capita spending is calculated as revenues generated within our amusement parks and separately gated outdoor water parks along with related tolls and parking revenues, divided by total attendance.

Out-of-park revenues are defined as revenues from resort, marina, sponsorship and all other out-of-park operations.

Both in-park per capita spending and out-of-park revenues exclude amounts remitted for concessionaire arrangements.

Nine months ended September 24, 2017

The fiscal nine-month period ended September 24, 2017 included a total of 1,722 operating days compared with 1,825 operating days for the fiscal nine-month period ended September 25, 2016. On a same-park basis (excluding Wildwater Kingdom, one of the Partnership's separately gated outdoor water parks which was closed after the 2016 operating season), the fiscal nine-month period ended September 25, 2016 included a total of 1,742 operating days. The following table presents key financial information for the nine months ended September 24, 2017 and September 25, 2016:

	Nine months ended			Nine months ended			Increase (Decrease)
	9/24/2017			9/25/2016			$			%
	(Amounts in thousands, except for per capita spending)
Net revenues	$	1,093,805		$	1,096,755		$	(2,950	)	(0.3	)%
Operating costs and expenses	690,897			676,363			14,534			2.1	%
Depreciation and amortization	126,237			118,175			8,062			6.8	%
Loss on impairment / retirement of fixed assets, net	3,057			5,382			(2,325		)	N/M
Gain on sale of investment	(1,877		)	—			(1,877		)	N/M
Operating income	$	275,491		$	296,835		$	(21,344	)	(7.2	)%
N/M - Not meaningful
Other Data:
Adjusted EBITDA (1)	$	417,856		$	427,782		$	(9,926	)	(2.3	)%
Adjusted EBITDA margin (2)	38.2		%	39.0		%	—			(0.8	)%
Attendance	21,293			21,472			(179		)	(0.8	)%
In-park per capita spending	$	47.24		$	46.82		$	0.42		0.9	%
Out-of-park revenues	$	120,165		$	121,859		$	(1,694	)	(1.4	)%

(1) For additional information regarding Adjusted EBITDA, including how we define and use Adjusted EBITDA, as well as a reconciliation to net income, see page 29.

(2) Adjusted EBITDA margin (Adjusted EBITDA divided by net revenues) is not a measurement computed in accordance with generally accepted accounting principles ("GAAP") or a substitute for measures computed in accordance with GAAP and may not be comparable to similarly titled measures of other companies. We provide Adjusted EBITDA margin because we believe the measure provides a meaningful measure of operating profitability.

For the nine months ended September 24, 2017, net revenues decreased by $3.0 million, to $1,093.8 million, from $1,096.8 million for the first nine months of 2016. This reflects a 179,000-visit decrease in attendance which was partially offset by the impact of a $0.42 increase in in-park per capita spending. Out-of-park revenues decreased $1.7 million compared with the same period in the prior year. The decrease in attendance for the first nine months of 2017 relates primarily to the closure of Wildwater Kingdom after the 2016 operating season. The increase in in-park per capita spending was largely attributable to an increase in revenues from our all-season dining and beverage programs, as well as our premium product offerings. The increase was partially offset by a decrease in in-park per capita spending related to admissions resulting from a higher season pass attendance mix, and from a shift of a portion of the estimated number of uses per season pass into the fourth quarter with three additional parks extending their operating seasons to include WinterFest, a holiday event operating during November and December. The decrease in out-of-park revenues was due to prior period revenues received from a Super Bowl 50 special event and a decline in accommodations revenue. Foreign currency exchange rates had an immaterial impact on net revenues.

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Operating costs and expenses for the first nine months of 2017 increased 2.1%, or $14.5 million, to $690.9 million from $676.4 million for the first nine months of 2016. The increase is the result of a $9.1 million increase in SG&A expense, a $6.0 million increase in operating expense offset by a $0.5 million decrease in cost of goods sold. Cost of goods sold, as a percentage of food, merchandise, and games net revenue, was comparable for both periods. Operating expenses grew by $6.0 million primarily due to increased seasonal wages which were driven by hourly rate increases, and increased operating supply expense attributable to incremental special and seasonal events and the opening of several large capital projects. The $9.1 million increase in SG&A expense was primarily attributable to a reserve established for an employment practice claim, higher merchant fees, increased technology related costs, and increased full-time wages and related employee benefits and taxes. Foreign currency exchange rates had an immaterial impact on operating costs and expenses.

Depreciation and amortization expense for the first nine months of 2017 increased $8.1 million to $126.2 million from $118.2 million for the same period in the prior year. The increase is attributable to a change in the estimated useful lives of a long-lived asset at Cedar Point and a series of other long-lived assets across the portfolio. For the first nine months of 2017, the loss on impairment / retirement of fixed assets was $3.1 million, reflecting retirements of assets in the normal course of business at several of our properties. During the third quarter of 2017, a $1.9 million gain on sale of investment was recognized for the liquidation of a preferred equity investment.

After the items above, operating income for the first nine months of 2017 decreased $21.3 million to $275.5 million compared with operating income of $296.8 million for the first nine months of 2016.

Interest expense for the first nine months of 2017 was comparable to the same period in the prior year. We recognized a $23.1 million loss on early debt extinguishment during the nine months ended September 24, 2017 attributable to the April 2017 debt refinancing. The net effect of swaps resulted in a charge to earnings of $3.7 million for the first nine months of 2017 compared with a $8.9 million charge to earnings in 2016 for the same period. The difference reflects the amortization of amounts in OCI for our de-designated swap portfolio offset by fair market value movements for these swaps. During the period, we also recognized a $35.0 million net benefit to earnings for foreign currency gains and losses compared with a $23.7 million net benefit to earnings for the same period in 2016. Both amounts primarily represent remeasurement of the U.S.-dollar denominated debt held at our Canadian property from the applicable currency to the legal entity's functional currency.

During the first nine months of 2017, a provision for taxes of $63.8 million was recorded to account for PTP taxes and income taxes on our corporate subsidiaries. This compares with a $65.3 million provision for taxes recorded for the first nine months of 2016. The decrease in provision for taxes relates largely to the tax effect of foreign currency exchange related to our Canadian property partially offset by an increase in pretax income from our corporate subsidiaries compared with the same period a year ago.

After the items above, net income for the first nine months totaled $157.9 million, or $2.79 per diluted limited partner unit, compared with net income of $184.5 million, or $3.27 per diluted limited partner unit, for the same period a year ago.

For the nine month period, our Adjusted EBITDA decreased to $417.9 million from $427.8 million for the same period in 2016. The approximate $9.9 million decrease in Adjusted EBITDA is due to decreased attendance and lower out-of-park revenue, as well as higher operating costs and expenses associated with labor, merchant fees and other planned spending. Our Adjusted EBITDA margin also decreased 80 basis points as a result of lower net revenues and expense growth.

On a same-park basis (excluding Wildwater Kingdom), net revenues increased by $2.5 million to $1,093.8 million for the nine months ended September 24, 2017 from $1,091.3 million in the same period in the prior year. This is the result of a 59,000-visit increase in attendance and a $0.15 increase in in-park per capita spending on a same-park basis. Operating costs and expenses (including depreciation and amortization, loss on impairment of fixed assets and gain on sale of investment) on a same-park basis increased $23.8 million resulting in a $21.3 million decrease in same-park operating income.

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Three months ended September 24, 2017

The fiscal three-month period ended September 24, 2017 consisted of a total of 960 operating days compared with 1,021 operating days for the fiscal three-month period ended September 25, 2016. On a same-park basis (excluding Wildwater Kingdom, one of the Partnership's separately gated outdoor water parks which was closed after the 2016 operating season), the fiscal three-month period ended September 25, 2016 included a total of 965 operating days. The following table presents key financial information for the three months ended September 24, 2017 and September 25, 2016:

	Three months ended			Three months ended		Increase (Decrease)
	9/24/2017			9/25/2016		$			%
	(Amounts in thousands, except for per capita spending)
Net revenues	$	652,689		$	650,283	$	2,406		0.4	%
Operating costs and expenses	327,020			316,448		10,572			3.3	%
Depreciation and amortization	70,060			64,685		5,375			8.3	%
Loss on impairment / retirement of fixed assets, net	1,347			1,355		(8		)	N/M
Gain on sale of investment	(1,877		)	—		(1,877		)	N/M
Operating income	$	256,139		$	267,795	$	(11,656	)	(4.4	)%
N/M - Not meaningful
Other Data:
Adjusted EBITDA (1)	$	333,642		$	336,015	$	(2,373	)	(0.7	)%
Attendance	12,428			12,492		(64		)	(0.5	)%
In-park per capita spending	$	48.73		$	48.01	$	0.72		1.5	%
Out-of-park revenues	$	65,103		$	67,903	$	(2,800	)	(4.1	)%

(1) For additional information regarding Adjusted EBITDA, including how we define and use Adjusted EBITDA, as well as a reconciliation to net income, see page 29.

For the quarter ended September 24, 2017, net revenues increased by $2.4 million, to $652.7 million, from $650.3 million in the third quarter of 2016. This reflects a $0.72 increase in in-park per capita spending, partially offset by the impact of a 64,000-visit decrease in attendance. Out-of-park revenues decreased $2.8 million compared with the same period in the prior year. The increase in in-park per capita spending was largely attributable to an increase in revenues from our all-season dining and beverage programs, as well as our premium product offerings and non-season pass admissions. The increase was partially offset by a decrease in in-park per capita spending related to season pass admissions resulting from a shift of a portion of the estimated number of uses per season pass into the fourth quarter with three additional parks extending their operating seasons to include WinterFest, a holiday event operating during November and December. The decrease in attendance for the third quarter relates to the closure of Wildwater Kingdom after the 2016 operating season. The decrease in out-of-park revenues was attributable to prior period proceeds received during the third quarter of 2016 from a business interruption claim at Cedar Point and a decrease in out-of-park food revenue. The increase in net revenues is net of a $0.9 million favorable impact of foreign currency exchange related to our Canadian park.

Operating costs and expenses for the quarter increased 3.3%, or $10.6 million, to $327.0 million from $316.4 million in the third quarter of 2016. The increase is the result of a $6.6 million increase in SG&A expense, a $3.4 million increase in operating expense, and a $0.6 million increase in cost of goods sold. Cost of goods sold, as a percentage of food, merchandise, and games net revenue, was comparable for both periods. Operating expenses grew by $3.4 million primarily due to increased seasonal wages which were driven by hourly rate increases, and to a lesser extent, increased operating supply expense attributable to additional seasonal events and the timing of maintenance projects. The $6.6 million increase in SG&A expense was primarily attributable to a reserve established for an employment practice claim, higher merchant fees, and increased technology related costs. The increase in operating costs and expenses is net of a $0.4 million unfavorable impact of foreign currency exchange related to our Canadian park.

Depreciation and amortization expense for the quarter increased $5.4 million to $70.1 million compared to $64.7 million for the same period in the prior year. The increase is attributable to a change in the estimated useful lives of a long-lived asset at Cedar Point and a series of other long-lived assets across the portfolio. For the third quarter of 2017, the loss on impairment / retirement of fixed assets was $1.3 million, reflecting the retirements of assets in the normal course of business at several of our properties. A $1.9 million gain on sale of investment was recognized during the quarter for the liquidation of a preferred equity investment.

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After the items above, operating income for the third quarter of 2017 decreased $11.7 million to $256.1 million compared with an operating income of $267.8 million for the third quarter of 2016.

Interest expense for the third quarter of 2017 was comparable to the same period in the prior year. The net effect of our swaps resulted in a benefit to earnings of $1.0 million for the third quarter of 2017 compared with a $1.7 million charge to earnings in the third quarter of 2016. The difference reflects the change in fair market value movements in our de-designated swap portfolio offset by the amortization of amounts in OCI for these swaps. During the current quarter, we also recognized a $29.2 million net benefit to earnings for foreign currency gains and losses compared with a $7.3 million net charge to earnings for the third quarter in 2016. Both amounts primarily represent remeasurement of the U.S.-dollar denominated debt held at our Canadian property from the applicable currency to the legal entity's functional currency.

During the third quarter of 2017, a provision for taxes of $73.7 million was recorded to account for PTP taxes and income taxes on our corporate subsidiaries. This compares with a provision for taxes recorded in the third quarter of 2016 of $62.9 million. This increase in provision for taxes relates largely to an increase in pretax income from our corporate subsidiaries compared with the same period a year ago.

After the items above, net income for the current quarter totaled $191.3 million, or $3.38 per diluted limited partner unit, compared with a net income of $175.0 million, or $3.10 per diluted limited partner unit, for the third quarter a year ago.

For the current quarter, our Adjusted EBITDA decreased to $333.6 million from $336.0 million for the fiscal third quarter of 2016. The approximate $2.4 million decrease in Adjusted EBITDA is attributable to decreased attendance and lower out-of-park revenue, as well as increased operating costs and expenses associated with labor, merchant fees, maintenance expense and other planned spending.

On a same-park basis (excluding Wildwater Kingdom), net revenues increased by $6.5 million to $652.7 million for the quarter ended September 24, 2017 from $646.2 million in the same period in the prior year reflecting a 103,000-visit increase in attendance and a $0.39 increase in in-park per capita spending on a same-park basis. Operating costs and expenses (including depreciation and amortization, loss on impairment of fixed assets and gain on sale of investment) on a same-park basis increased $17.3 million resulting in a $10.8 million decrease in same-park operating income.

October 2017

Based on preliminary results, net revenues through October 29, 2017 were approximately $1.24 billion, up 1%, or $6 million, compared with the same period last year. The increase in net revenues was the result of a 1%, or $0.57, increase in in-park guest per capita spending to $47.40 offset by a 45,000-visit, decrease in attendance to 24.1 million visits. During this same period, out-of-park revenues decreased 2%, or $3 million, to $133 million compared with 2016.

On a same-park basis (excluding Wildwater Kingdom), net revenues were up approximately 1%, or $12 million, compared with the same period last year. The increase in net revenues on a same-park basis was the result of a 1%, or 192,000-visit, increase in attendance and a 1%, or $0.33, increase in in-park guest per capita spending. The fluctuation in out-of-park revenues was comparable on a same-park basis.

Liquidity and Capital Resources:

With respect to both liquidity and cash flow, we ended the third quarter of 2017 in sound condition. The working capital ratio (current assets divided by current liabilities) of 1.2 at September 24, 2017 is the result of normal seasonal activity. Receivables, inventories and payables are at normal seasonal levels.

Operating Activities

During the nine-month period ended September 24, 2017, net cash from operating activities was $322.6 million, a decrease of $18.1 million from the same period a year ago, primarily due to lower earnings.

Investing Activities

Net cash used for investing activities for the first nine months of 2017 was $149.2 million, an increase of $22.3 million compared with the same period in the prior year. This increase reflects planned higher capital expenditures in the period.

Financing Activities

Net cash for financing activities for the first nine months of 2017 was $52.1 million, a decrease of $95.7 million compared with the same period in the prior year. This decrease reflects incremental debt borrowings due to the increase in our senior secured

33

term loan facility under the 2017 Credit Agreement, offset by other impacts of the April 2017 refinancing including payment of debt issuance costs and early termination penalties.

As of September 24, 2017, our outstanding debt, before reduction for debt issuance costs, consisted of the following:

• $500 million of 5.375% senior unsecured notes, maturing in April 2027, issued at par. Prior to April 15, 2020, up to 35% of the notes may be redeemed with net cash proceeds of certain equity offerings at a price equal to 105.375% of the principal amount thereof, together with accrued and unpaid interest and additional interest, if any. The notes may be redeemed, in whole or in part, at any time prior to April 15, 2022 at a price equal to 100% of the principal amount of the notes redeemed plus a "make-whole" premium, together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. The notes pay interest semi-annually in April and October.

• $450 million of 5.375% senior unsecured notes, maturing in June 2024, issued at par. The notes may be redeemed, in whole or in part, at any time prior to June 1, 2019 at a price equal to 100% of the principal amount of the notes redeemed plus a "make-whole" premium, together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed. The notes pay interest semi-annually in June and December.

• $735 million of senior secured term debt, maturing in April 2024 under our 2017 Credit Agreement. The term debt bears interest at London InterBank Offering Rate ("LIBOR") plus 225 basis points (bps). The term loan amortizes $7.5 million annually. We paid $15.0 million of amortization during the third quarter of 2017. Therefore, we have no current maturities as of September 24, 2017.

• No borrowings under the $275 million senior secured revolving credit facility under our 2017 Credit Agreement with a Canadian sub-limit of $15 million. Borrowings under the senior secured revolving credit facility bear interest at LIBOR or Canadian Dollar Offered Rate ("CDOR") plus 200 bps. The revolving credit facility is scheduled to mature in April 2022 and also provides for the issuance of documentary and standby letters of credit. The 2017 Credit Agreement requires the payment of a 37.5 bps commitment fee per annum on the unused portion of the credit facilities. After letters of credit, which totaled $15.9 million at September 24, 2017, we had $259.1 million of available borrowings under the revolving credit facility and cash on hand of $249.9 million.

As of September 24, 2017, we have four interest rate swap agreements that effectively convert $500 million of variable-rate debt to a fixed rate. These swaps, which mature on December 31, 2020 and fix LIBOR at a weighted average rate of 2.64%, were not designated as cash flow hedges. As of September 24, 2017, the fair market value of our derivative liability was $14.8 million and was recorded in "Derivative Liability."

The 2017 Credit Agreement includes a Consolidated Leverage Ratio, which if breached for any reason and not cured could result in an event of default. The ratio is set at a maximum of 5.50x consolidated total debt-to-consolidated EBITDA. As of September 24, 2017, we were in compliance with this financial condition covenant and all other covenants under the 2017 Credit Agreement.

Our long-term debt agreements include Restricted Payment provisions. Pursuant to the terms of the indenture governing our June 2014 notes, which includes the most restrictive of these Restricted Payments provisions, we can make Restricted Payments of $60 million annually so long as no default or event of default has occurred and is continuing; and our ability to make additional Restricted Payments is permitted should our pro forma Total-Indebtedness-to-Consolidated-Cash-Flow Ratio be less than or equal to 5.00x.

In accordance with the 2017 Credit Agreement debt provisions, on August 2, 2017, we announced the declaration of a distribution of $0.855 per limited partner unit, which was paid on September 15, 2017. Also, on November 2, 2017, we announced the declaration of a distribution of $0.89 per limited partner unit, which will be payable on December 15, 2017.

Existing credit facilities and cash flows from operations are expected to be sufficient to meet working capital needs, debt service, partnership distributions and planned capital expenditures for the foreseeable future.

Off Balance Sheet Arrangements:

We had $15.9 million in letters of credit, which are primarily in place to backstop insurance arrangements, outstanding on our revolving credit facility as of September 24, 2017. We have no other significant off-balance sheet financing arrangements.

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Forward Looking Statements

Some of the statements contained in this report (including the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section) that are not historical in nature are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements as to our expectations, beliefs and strategies regarding the future. These forward-looking statements may involve risks and uncertainties that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Important factors, including those listed under Item 1A in the Company’s Annual Report on Form 10-K, could adversely affect our future financial performance and cause actual results to differ materially from our expectations.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to market risks from fluctuations in interest rates, and to a lesser extent on currency exchange rates on our operations in Canada, and from time to time, on imported rides and equipment. The objective of our financial risk management is to reduce the potential negative impact of interest rate and foreign currency exchange rate fluctuations to acceptable levels. We do not acquire market risk sensitive instruments for trading purposes.

We manage interest rate risk through the use of a combination of fixed-rate long-term debt, interest rate swaps that fix a portion of our variable-rate long-term debt, and variable-rate borrowings under our revolving credit facility. Translation exposures with regard to our Canadian operations are not hedged.

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the change in fair value of the derivative instrument is reported as a component of “Other comprehensive income (loss)” and reclassified into earnings in the period during which the hedged transaction affects earnings. Changes in fair value of derivative instruments that do not qualify as effective hedging activities are reported as “Net effect of swaps” in the unaudited condensed consolidated statements of operations. Additionally, the “Other comprehensive income (loss)” related to interest rate swaps that become ineffective is amortized over the remaining life of the interest rate swap and reported as a component of “Net effect of swaps” in the unaudited condensed consolidated statements of operations.

As of September 24, 2017, on an adjusted basis after giving affect to the impact of interest rate swap agreements, $1,450.0 million of our outstanding long-term debt represented fixed-rate debt and $235.0 million represented variable-rate debt. Assuming an average balance on our revolving credit borrowings of approximately $7.2 million, a hypothetical 100 bps increase in 30-day LIBOR on our variable-rate debt (not considering the impact of our interest rate swaps) would lead to an increase of approximately $7.4 million in annual cash interest costs.

Assuming a hypothetical 100 bps increase in 30-day LIBOR, the amount of net cash interest paid on our derivative portfolio would decrease by $5.0 million over the next twelve months.

A uniform 10% strengthening of the U.S. dollar relative to the Canadian dollar would result in a $3.3 million decrease in annual operating income.

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ITEM 4. CONTROLS AND PROCEDURES

(a)Evaluation of Disclosure Controls and Procedures - 

We maintain a system of controls and procedures designed to ensure that information required to be disclosed by us in our reports under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified by the Commission and that such information is accumulated and communicated to management, including the Chief Executive Officer and the Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. As of September 24, 2017, management, with the participation of the Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures. Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of September 24, 2017.

(b)Changes in Internal Control Over Financial Reporting -

There were no changes in our internal control over financial reporting that occurred during the fiscal quarter ended September 24, 2017 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Freddie Ramos vs. Cedar Fair, L.P., Cedar Fair Management Company

The Partnership and Cedar Fair Management, Inc. are defendants in a lawsuit filed in Superior Court of the State of California for Orange County on November 23, 2016 by Freddie Ramos seeking damages and injunctive relief for claims related to certain employment and pay practices at our parks in California, including those related to certain check-out, time reporting, discharge, meal and rest period, and pay statement practices. The Partnership filed an answer on January 13, 2017 denying the allegations in the complaint and requesting a dismissal of all claims.  On January 17, 2017, the Partnership filed a Notice of Removal of the case from the state court to the United State District Court for the Central District of California. The class has not been certified. On August 29, 2017, the Partnership participated in a mediation relating to the claims alleged in the lawsuit. Following this mediation, the Partnership negotiated a $4.2 million settlement with the named Plaintiff on a class wide basis. As part of the settlement the case will be remanded back to the Superior Court of the State of California for Orange County for a preliminary hearing and final court approval of the proposed settlement. The Partnership and the named Plaintiff are required to file a brief in support of the settlement with the court. The hearing to approve the final settlement is not expected to occur until at least the first quarter of 2018. Based upon the information available, the Partnership believes the liability recorded as of September 24, 2017 is adequate and does not expect the terms of the negotiated settlement or final briefing to materially affect its financial results in future periods.

ITEM 1A. RISK FACTORS

There have been no material changes to the risk factors previously disclosed in the Partnership's Annual Report on Form 10-K for the year ended December 31, 2016.

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ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Issuer Purchases of Equity Securities:

The following table summarizes repurchases of Cedar Fair, L.P. Depositary Units representing limited partner interests by the Partnership during the three months ended September 24, 2017:

Period	(a) Total Number of Units Purchased (1)	(b) Average Price Paid per Unit		(c) Total Number of Units Purchased as Part of Publicly Announced Plans or Programs	(d) Maximum Number (or Approximate Dollar Value) of Units that May Yet Be Purchased Under the Plans or Programs
June 26 - July 30	1,928	$	70.80	—	$	—
July 31 - August 27	—	—		—	—
August 28 - September 24	—	—		—	—
Total	1,928	$	70.80	—	$	—

(1) All repurchased units were reacquired by the Partnership in satisfaction of tax obligations related to the vesting of restricted units which were granted under the Partnership's Omnibus Incentive Plan.

ITEM 6. EXHIBITS

Exhibit (10.1)	Employment Agreement, dated October 4, 2017, by and among Cedar Fair, L.P., Cedar Fair Management, Inc., Magnum Management Corporation, and Richard A. Zimmerman. Incorporated herein by reference to Exhibit 10.1 to the Registrant's Form 8-K filed October 5, 2017.
Exhibit (10.2)	Employment Agreement, dated October 4, 2017, by and among Cedar Fair, L.P., Cedar Fair Management, Inc., Magnum Management Corporation, and Matthew A. Ouimet. Incorporated herein by reference to Exhibit 10.2 to the Registrants Form 8-K filed October 5, 2017.
Exhibit (10.3)	2016 Omnibus Incentive Plan (Fall 2017 Version) Form of Restricted Unit Award Declaration.
Exhibit (10.4)	2016 Omnibus Incentive Plan (Fall 2017 Version) Form of Performance Award Declaration.
Exhibit (31.1)	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit (31.2)	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit (32)	Certifications Pursuant to 18 U.S.C. 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
Exhibit (101)	The following materials from the Partnership's Quarterly Report on Form 10-Q for the quarter ended September 24, 2017 formatted in Extensible Business Reporting Language (XBRL): (i) the Unaudited Condensed Consolidated Statements of Income, (ii) the Unaudited Condensed Consolidated Balance Sheets, (iii) the Unaudited Condensed Consolidated Statements of Cash Flow, (iv) the Unaudited Condensed Consolidated Statement of Equity, and (v) related notes.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		CEDAR FAIR, L.P.
		(Registrant)
		By Cedar Fair Management, Inc.
		General Partner
Date:	November 2, 2017	/s/ Matthew A. Ouimet
		Matthew A. Ouimet
		Chief Executive Officer
Date:	November 2, 2017	/s/ Brian C. Witherow
		Brian C. Witherow
		Executive Vice President and
		Chief Financial Officer

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EX-31.1

Exhibit 31.1

CERTIFICATION

I, Matthew A. Ouimet, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Cedar Fair, L.P.;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	November 2, 2017	/s/ Matthew A. Ouimet
		Matthew A. Ouimet
		Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Brian C. Witherow, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Cedar Fair, L.P.;

2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:	November 2, 2017	/s/ Brian C. Witherow
		Brian C. Witherow
		Executive Vice President and Chief Financial Officer

EX-32

Exhibit 32

CERTIFICATIONS PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Cedar Fair, L.P. (the “Partnership”) on Form 10-Q for the period ending September 24, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of the Partnership certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to our knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

November 2, 2017

/s/ Matthew A. Ouimet

Matthew A. Ouimet

Chief Executive Officer

/s/ Brian C. Witherow

Brian C. Witherow

Executive Vice President and

Chief Financial Officer

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.

EX-10.3

Exhibit 10.3

CEDAR FAIR, L.P. 2016 OMNIBUS INCENTIVE PLAN

RESTRICTED UNIT AWARD DECLARATION

This Restricted Unit Award Declaration (“Declaration”) is made pursuant to the terms and conditions of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan (the “Plan”), including (without limitation) Article VIII, the provisions of which are incorporated into this Declaration by reference. Capitalized terms used herein shall have the meanings ascribed to them in the Plan, unless indicated otherwise.

1.Restricted Unit AwardIn General. Participant’s Restricted Unit Award (the “Award”) is outlined in the attached Notice of Restricted Unit Award of Cedar Fair, L.P. and is subject to Participant’s continuous employment by the Company or an Affiliate throughout the Restricted Period. Distribution Equivalents on the Restricted Units shall be accumulated until the lapse of the Restricted Period, if and to the extent the Company makes distributions on its Units during the Restricted Period, and shall be paid pursuant to the provisions of Section 3 hereof in the same form as accrued. During the Restricted Period, the Participant shall have the right to vote such Restricted Units, but the Participant shall not have the right to receive any payments or distributions with respect to such Restricted Units, and the Participant may not sell, transfer, pledge, or assign such Restricted Units.

2.Forfeiture. The Restricted Units shall be automatically forfeited if the Participant ceases to be employed by the Company or an Affiliate at any time during the Restricted Period, except as provided in a separate employment agreement with the Participant, or as provided in Section 5, or as provided in Section 3 of this Declaration if the Participant incurs a Separation from Service due to death, Disability, or Retirement during the Restricted Period.

3.Lapse of Restriction. The employment restriction on the Restricted Units shall lapse upon the Participant’s completion of continuous employment throughout the Restricted Period, and the Restricted Units shall thereupon become unrestricted Units. All Distribution Equivalents on the Restricted Units accumulated during the Restricted Period shall be paid in a lump sum promptly upon the lapse of the Restricted Period (but in any case no later than two and one-half (2-1/2) months after the end of the Participant’s employing entity’s fiscal year that coincides with or immediately follows the end of the Restricted Period).

If a Participant dies or incurs a Disability during employment and prior to the end of the Restricted Period that results in a Separation from Service, the employment restriction on the Restricted Units shall lapse, the Restricted Units shall thereupon become unrestricted Units, and all Distribution Equivalents accumulated through the date the restrictions lapse shall be paid in a lump sum to the Participant (or the Participant’s estate) within ninety (90) days of the Participant’s death or Disability; provided that if the ninety- (90-) day period begins in one calendar year and ends in another, neither the Participant nor any beneficiary of a Participant shall have the right to designate the calendar year of payment.

If a Participant incurs a Separation from Service due to Retirement prior to the expiration of the Restricted Period, the employment restriction on the Restricted Units shall lapse, the Restricted Units shall thereupon become unrestricted Units, and all Distribution Equivalents accumulated through the date the restrictions lapse shall be paid in a lump sum to the Participant within ninety (90) days of the date of the Participant’s Separation from Service due to Retirement; provided that any payment to a Specified Employee upon a Retirement (which is a Separation from Service) that is “nonqualified deferred compensation” within the meaning of Section 409A shall not be paid until the thirty- (30-) day period commencing with the first day of the seventh month following the month of the Specified Employee’s Separation from Service (provided that if such thirty- (30-) day period begins in one calendar year and ends in another, the Specified Employee shall not have the right to designate the calendar year of payment).

Except in the case of death, Disability, and Retirement, and as permitted by Section 409A and the Plan (including Section 13.1(b) of the Plan), no payment shall be accelerated.

4.Tax Matters and Withholding. To the extent permitted by applicable securities laws, the Company, the Participant’s employer or their agent(s) shall withhold all required local, state, federal, and other taxes and any other amount required to be withheld by any governmental authority or law from the Units issued pursuant to the Award, and Units issued hereunder shall be retained by, surrendered back to or reacquired by the Company or an Affiliate as necessary in order to accomplish the foregoing, with the number of unrestricted Units to be delivered after the expiration of the Restricted Period being reduced accordingly. The number of Units to be withheld shall have a Fair Market Value equal to the amount required to be withheld as

of the date that the amount is withheld. The Participant will execute such other documentation as may be necessary or appropriate to accomplish the foregoing. Prior to such withholding, in accordance with procedures established by or agreement of the Committee or the Participant’s employer, the Participant may arrange to pay all applicable withholdings in cash on the due date of such withholdings. To the extent applicable law does not permit the withholding of Units, the Participant shall pay all applicable withholdings in cash on the due date of such withholdings.

5.Priority of Agreements.  In the event of a Change in Control (as such term is defined the Plan), the terms of Section 13 of the Plan shall govern and control over any conflicting term of this Declaration.  However, if Participant is party to an employment agreement with the Company and there is a conflict between the terms of that employment agreement and the terms of this Declaration or the Plan, then the terms of the employment agreement control.

********

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IN WITNESS WHEREOF, Magnum Management Corporation, a subsidiary of Cedar Fair, L.P., has caused this Declaration to be executed by its duly authorized officer as approved by the Committee.

MAGNUM MANAGEMENT CORPORATION

By:

Title:

Date: __________________________________

A copy of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan Information Statement is available for review on the Cedar Fair Intranet link at http://cfnet/ under “Document Share”, and a copy of the most current Form 10-K is available for review at http://ir/cedarfair.com/financial-reports/annual-reports/default.aspx.

Notice of Restricted Unit Award of Cedar Fair, L.P.

Company Name    

Plan    

Participant Id    

Participant Name    

Participant Address    

Grant/Award Type    

Award Amount    

Grant/Award Price        

Grant/Award Date    

Expiration Date    

VESTING SCHEDULE

Vesting Date No. of Shares Percent

EX-10.4

Exhibit 10.4

CEDAR FAIR, L.P. 2016 OMNIBUS INCENTIVE PLAN

PERFORMANCE AWARD DECLARATION

This Performance Unit Award Declaration (“Declaration”) is made pursuant to the terms and conditions of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan (the “Plan”), including (without limitation) Article IX, the provisions of which are incorporated into this Declaration by reference. Capitalized terms used herein shall have the meanings used in the Plan, unless indicated otherwise.

1.Performance Award in General. Participant’s Performance Unit Award (the “Award”) is outlined in the attached Notice of Performance Unit Award. Participant shall be eligible to receive the number of potential Performance Units as specified in the Notice of Performance Award of Cedar Fair, L.P. for the identified Performance Period, as determined and adjusted pursuant to the Performance Objectives as adopted by the Committee; provided that (i) the number of Performance Units to be paid will depend on the level of attainment of the Performance Objectives set forth in the Performance Objectives as determined by the Committee following the end of the Performance Period, and (ii) Participant must remain in the continuous employment with the Company or an Affiliate through the Payment Date as defined in and subject to Section 2 of this Agreement.

2.Payment Date. If the performance objectives set forth in the Performance Objectives are achieved during the Performance Period, any Performance Units that become payable under Section 1 plus Distribution Equivalents, on such number of Performance Units that become payable, if and to the extent the Company makes distributions on its Units after the grant date and prior to payment of the Performance Units (which for purposes of this Declaration shall be deemed to have been reinvested), shall be paid in a lump sum in Units in the first ninety (90) days ____; provided that any payment to a Specified Employee upon a Separation from Service (including Retirement) shall only be paid in accordance with Section 9.6 of the Plan (the actual date of payment is referred to herein as the “Payment Date”); and provided, further, that the Participant must be continuously employed by the Company or an Affiliate throughout the Performance Period and from the last day of the Performance Period through the Payment Date or will forfeit his entire Performance Award, except as described in the following paragraph, Section 4, or as provided in Section 13.1 of the Plan.

If the performance objectives as set forth in the Performance Objectives are achieved and the Participant dies or incurs a Separation from Service due to Disability prior to the Payment Date specified in the preceding paragraph, the Participant (or the Participant’s estate) shall receive payments on the Payment Date as provided in the preceding paragraph as if the Participant were employed by the Company or an Affiliate on the relevant Payment Date; provided, however, that any such payments will be prorated as of the date of death or Separation of Service due to Disability if the death or Separation of Service due to Disability occurs during the Performance Period. If the performance objectives set forth in the Performance Objectives are achieved and the Participant Retires (and incurs a Separation from Service) prior to the Payment Date, the Performance Award shall be paid on the Payment Date as provided in the preceding paragraph (including that any payment to a Specified Employee upon a Separation from Service (including Retirement) shall only be paid after a six- (6-) month period following such Participant’s Separation from Service); provided, however, that any such payments will be prorated as of the date of Separation of Service due to Retirement if the Separation of Service due to Retirement occurs during the Performance Period.

Except as permitted by Section 409A (including Section 13.1(c) of the Plan), no payment shall be accelerated. If the Performance Award becomes payable under Section 13.1(c) of the Plan, payment will be at the target number of potential Performance Units.

3.Tax Matters and Withholding. To the extent permitted by applicable securities laws, the Company, the Participant’s employer or their agent(s) shall withhold all required local, state, federal, and other taxes and any other amount required to be withheld by any governmental authority or law from the Units issued pursuant to the Award, and Units issued hereunder shall be retained by, surrendered back to or reacquired by the Company or an Affiliate as necessary in order to accomplish the foregoing, with the number of Performance Units to be delivered after the completion of the Performance Period being reduced accordingly. The number of Units to be withheld shall have a Fair Market Value equal to the amount required to be withheld as of the date that the amount is withheld. The Participant will execute such other documentation as may be necessary or appropriate to accomplish the foregoing. Prior to such withholding, in accordance with procedures established by or agreement of the Committee or the Participant’s employer, the Participant may arrange to pay all applicable withholdings in cash on the due date of such withholdings. To the extent applicable law does not permit the withholding of Units, the Participant shall pay all applicable withholdings in cash on the due date of such withholdings.

4.Priority of Agreements.  In the event of a Change in Control (as such term is defined the Plan), the terms of Section 13 of the Plan shall govern and control over any conflicting term of this Declaration.  However, if Participant is party to an employment agreement with the Company and there is a conflict between the terms of that employment agreement and the terms of this Declaration or the Plan, then the terms of the employment agreement control.

This Performance Award Declaration (“Declaration”) is made pursuant to the terms and conditions of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan (the “Plan”), including (without limitation) Article IX, the provisions of which are incorporated into this Declaration by reference. Capitalized terms used herein shall have the meanings used in the Plan, unless indicated otherwise.

5.Performance Award in General. Participant shall be eligible to receive up to 200% of the target number of potential Performance Units specified in the Award Summary for the identified Performance Period, as determined and adjusted pursuant to the Performance Objectives as adopted by the Committee; provided that (i) the number of Performance Units to be paid will depend on the level of attainment of the Performance Objectives set forth in the Performance Objectives as determined by the Committee following the end of the Performance Period, and (ii) Participant must remain in the continuous employment with the Company or an Affiliate through the Payment Date as defined in and subject to Section 2 of this Agreement.

6.Payment Date. If the performance objectives set forth in the Performance Objectives are achieved during the Performance Period, any Performance Units that become payable under Section 1 plus Distribution Equivalents, on such number of Performance Units that become payable, if and to the extent the Company makes distributions on its Units after the grant date and prior to payment of the Performance Units (which for purposes of this Declaration shall be deemed to have been reinvested), shall be paid in a lump sum in Units in the first ninety (90) days 2020; provided that any payment to a Specified Employee upon a Separation from Service (including Retirement) shall only be paid in accordance with Section 9.6 of the Plan (the actual date of payment is referred to herein as the “Payment Date”); and provided, further, that the Participant must be continuously employed by the Company or an Affiliate throughout the Performance Period and from the last day of the Performance Period through the Payment Date or will forfeit his entire Performance Award, except as described in the following paragraph, Section 4, or as provided in Section 13.1 of the Plan.

If the performance objectives as set forth in the Performance Objectives are achieved and the Participant dies or incurs a Separation from Service due to Disability prior to the Payment Date specified in the preceding paragraph, the Participant (or the Participant’s estate) shall receive payments on the Payment Date as provided in the preceding paragraph as if the Participant were employed by the Company or an Affiliate on the relevant Payment Date; provided, however, that any such payments will be prorated as of the date of death or Separation of Service due to Disability if the death or Separation of Service due to Disability occurs during the Performance Period. If the performance objectives set forth in the Performance Objectives are achieved and the Participant Retires (and incurs a Separation from Service) prior to the Payment Date, the Performance Award shall be paid on the Payment Date as provided in the preceding paragraph (including that any payment to a Specified Employee upon a Separation from Service (including Retirement) shall only be paid after a six- (6-) month period following such Participant’s Separation from Service); provided, however, that any such payments will be prorated as of the date of Separation of Service due to Retirement if the Separation of Service due to Retirement occurs during the Performance Period.

Except as permitted by Section 409A (including Section 13.1(c) of the Plan), no payment shall be accelerated. If the Performance Award becomes payable under Section 13.1(c) of the Plan, payment will be at the target number of potential Performance Units.

7.Tax Matters and Withholding. To the extent permitted by applicable securities laws, the Company, the Participant’s employer or their agent(s) shall withhold all required local, state, federal, and other taxes and any other amount required to be withheld by any governmental authority or law from the Units issued pursuant to the Award, and Units issued hereunder shall be retained by, surrendered back to or reacquired by the Company or an Affiliate as necessary in order to accomplish the foregoing, with the number of Performance Units to be delivered after the completion of the Performance Period being reduced accordingly. The number of Units to be withheld shall have a Fair Market Value equal to the amount required to be withheld as of the date that the amount is withheld. The Participant will execute such other documentation as may be necessary or appropriate to accomplish the foregoing. Prior to such withholding, in accordance with procedures established by or agreement of the Committee or the Participant’s employer, the Participant may arrange to pay all applicable withholdings in cash on the due date of such withholdings. To the extent applicable law does not permit the withholding of Units, the Participant shall pay all applicable withholdings in cash on the due date of such withholdings.

8.Priority of Agreements.  In the event of a Change in Control (as such term is defined the Plan), the terms of Section 13 of the Plan shall govern and control over any conflicting term of this Declaration.  However, if Participant is party to an employment agreement with the Company and there is a conflict between the terms of that employment agreement and the terms of this Declaration or the Plan, then the terms of the employment agreement control.

********

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IN WITNESS WHEREOF, Magnum Management Corporation, a subsidiary of Cedar Fair, L.P., has caused this Declaration to be executed by its duly authorized officer as approved by the Committee.

MAGNUM MANAGEMENT CORPORATION

By:

Title:

Date:

A copy of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan Information Statement is available for review on the Cedar Fair Intranet link at http://cfnet/ under “Document Share”, and a copy of the most current Form 10-K is available for review at http://ir/cedarfair.com/financial-reports/annual-reports/default.aspx.

Notice of Performance Unit Award of Cedar Fair, L.P.

Company Name    

Plan    

Participant Id    

Participant Name    

Participant Address    

Grant/Award Type    

Award Amount    

Grant/Award Price        

Grant/Award Date    

Expiration Date    

VESTING SCHEDULE

Vesting Date No. of Shares Percent

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 24, 2017	Oct. 27, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 24, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Entity Registrant Name	CEDAR FAIR L P
Entity Central Index Key	0000811532
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		56,237,988

XML

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Current Assets:
Cash and cash equivalents	$ 249,946	$ 122,716	$ 187,302
Receivables	52,303	35,414	51,536
Inventories	34,240	26,276	31,059
Other current assets	18,624	11,270	13,809
Total current assets	355,113	195,676	283,706
Property and Equipment:
Land	272,213	265,961	267,175
Land improvements	416,629	402,013	394,141
Buildings	707,964	663,982	675,440
Rides and equipment	1,740,826	1,643,770	1,653,274
Construction in progress	57,605	58,299	34,918
Total property and equipment, gross	3,195,237	3,034,025	3,024,948
Less accumulated depreciation	(1,614,727)	(1,494,805)	(1,498,908)
Total property and equipment, net	1,580,510	1,539,220	1,526,040
Goodwill	185,010	179,660	215,460
Other Intangibles, net	38,532	37,837	36,430
Other Assets	17,407	20,788	21,473
Total Assets	2,176,572	1,973,181	2,083,109
Current Liabilities:
Current maturities of long-term debt	0	2,775	1,200
Accounts payable	33,710	20,851	32,891
Deferred revenue	86,732	82,765	65,748
Accrued interest	23,928	9,986	10,939
Accrued taxes	78,657	58,958	69,916
Accrued salaries, wages and benefits	30,666	30,358	42,744
Self-insurance reserves	27,549	27,063	26,820
Other accrued liabilities	20,562	9,927	12,348
Total current liabilities	301,804	242,683	262,606
Deferred Tax Liability	112,671	104,885	137,712
Derivative Liability	14,849	17,721	30,185
Other Liabilities	12,340	13,162	12,488
Long-Term Debt:
Term debt	723,385	594,228	595,253
Notes	936,241	939,983	939,418
Total long-term debt	1,659,626	1,534,211	1,534,671
Partners’ Equity:
Special L.P. interests	5,290	5,290	5,290
General partner	0	0	1
Limited partners, 56,238, 56,201 and 56,091 units outstanding at September 24, 2017, December 31, 2016 and September 25, 2016, respectively	74,155	52,288	100,956
Accumulated other comprehensive income (loss)	(4,163)	2,941	(800)
Total partners' equity	75,282	60,519	105,447
Total Liabilities and Partners' Equity	$ 2,176,572	$ 1,973,181	$ 2,083,109

XML

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Statement of Financial Position [Abstract]
Limited partners, units outstanding (in shares)	56,238	56,201	56,091

XML

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Net revenues:
Admissions	$ 361,279	$ 361,949	$ 598,723	$ 604,947
Food, merchandise and games	205,137	202,341	356,512	354,032
Accommodations, extra-charge products and other	86,273	85,993	138,570	137,776
Total net revenues	652,689	650,283	1,093,805	1,096,755
Costs and expenses:
Cost of food, merchandise, and games revenues	52,647	52,057	92,376	92,860
Operating expenses	202,710	199,292	447,379	441,421
Selling, general and administrative	71,663	65,099	151,142	142,082
Depreciation and amortization	70,060	64,685	126,237	118,175
Loss on impairment / retirement of fixed assets, net	1,347	1,355	3,057	5,382
Gain on sale of investment	(1,877)	0	(1,877)	0
Total costs and expenses	396,550	382,488	818,314	799,920
Operating income	256,139	267,795	275,491	296,835
Interest expense	21,638	20,957	62,472	61,869
Net effect of swaps	(952)	1,650	3,717	8,902
Loss on early debt extinguishment	0	0	23,115	0
(Gain) loss on foreign currency	(29,193)	7,341	(35,047)	(23,675)
Other income	(416)	(58)	(464)	(84)
Income before taxes	265,062	237,905	221,698	249,823
Provision for taxes	73,747	62,918	63,769	65,339
Net income	191,315	174,987	157,929	184,484
Net income allocated to general partner	1	2	1	2
Net income allocated to limited partners	191,314	174,985	157,928	184,482
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143)	1,397	(13,085)	(5,447)
Unrealized gain on cash flow hedging derivatives	1,994	1,994	5,981	1,356
Other comprehensive income (loss), (net of tax)	(9,149)	3,391	(7,104)	(4,091)
Total comprehensive income	$ 182,166	$ 178,378	$ 150,825	$ 180,393
Basic income per limited partner unit:
Weighted average limited partner units outstanding (in shares)	56,078	55,948	56,062	55,922
Net income (loss) per limited partner unit (in dollars per share)	$ 3.41	$ 3.13	$ 2.82	$ 3.30
Diluted income per limited partner unit:
Weighted average limited partner units outstanding (in shares)	56,591	56,365	56,631	56,392
Net income (loss) per limited partner unit (in dollars per share)	$ 3.38	$ 3.10	$ 2.79	$ 3.27

XML

Unaudited Condensed Consolidated Statements of Partners' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Limited Partners [Member]	General Partner [Member]	Special L.P. Interests [Member]	AOCI Attributable to Parent [Member]	Accumulated Translation Adjustment [Member]	Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on cash flow hedging derivatives: Beginning balance						$ (19,300)
Beginning balance, units (in shares) at Dec. 31, 2015		56,018
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Limited partnership unit options exercised (in shares)		29
Limited partnership unit forfeitures (in shares)		0
Issuance of limited partnership units as compensation (in shares)		44
Ending balance, units (in shares) at Sep. 25, 2016		56,091
Beginning balance, value at Dec. 31, 2015		$ 48,428	$ 0	$ 22,591
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 184,484	184,482
Partnership distribution declared ($2.565 and $2.475 per limited partnership unit)		(139,041)
Expense recognized for limited partnership unit options		5
Tax effect of units involved in treasury unit transactions	1,903	(1,903)
Issuance of limited partnership units as compensation		8,985
Net income (loss)			2
Partnership distribution declared			(1)
Period activity, net of tax $0 and $3,131	(5,447)					(5,447)
Period activity, net of tax ($1,113) and ($279)	1,356						$ 1,356
Ending balance, value at Sep. 25, 2016	105,447	$ 100,956	1	5,290	$ (800)	17,144	(17,944)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on cash flow hedging derivatives: Beginning balance						(15,950)
Beginning balance, units (in shares) at Dec. 31, 2016		56,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Limited partnership unit options exercised (in shares)		9
Limited partnership unit forfeitures (in shares)		(3)
Issuance of limited partnership units as compensation (in shares)		31
Ending balance, units (in shares) at Sep. 24, 2017		56,238
Beginning balance, value at Dec. 31, 2016	60,519	$ 52,288	0	18,891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	157,929	157,928
Partnership distribution declared ($2.565 and $2.475 per limited partnership unit)		(144,516)
Expense recognized for limited partnership unit options		0
Tax effect of units involved in treasury unit transactions	2,560	(2,560)
Issuance of limited partnership units as compensation		11,015
Net income (loss)			1
Partnership distribution declared			(1)
Period activity, net of tax $0 and $3,131	(13,085)					(13,085)
Period activity, net of tax ($1,113) and ($279)	5,981						5,981
Ending balance, value at Sep. 24, 2017	$ 75,282	$ 74,155	$ 0	$ 5,290	$ (4,163)	$ 5,806	$ (9,969)

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Unaudited Condensed Consolidated Statements of Partners' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Statement of Partners' Capital [Abstract]
Foreign currency translation adjustment, tax	$ (803)	$ 0	$ 3,131
Unrealized loss on cash flow hedging derivatives, tax		$ (1,113)	$ (279)
Partnership distribution declared, amount per limited partnership unit (in dollars per share)	$ 2.475	$ 2.565	$ 2.475

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 157,929	$ 184,484
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	126,237	118,175
Loss on early debt extinguishment	23,115	0
Non-cash foreign currency gain on debt	(39,296)	(23,891)
Other non-cash expenses	26,942	36,004
Net change in working capital	27,625	31,267
Net change in other assets/liabilities	66	(5,337)
Net cash from operating activities	322,618	340,702
CASH FLOWS FOR INVESTING ACTIVITIES
Capital expenditures	(152,373)	(126,864)
Proceeds from sale of investment	3,281	0
Purchase of identifiable intangible assets	(66)	0
Net cash for investing activities	(149,158)	(126,864)
CASH FLOWS FOR FINANCING ACTIVITIES
Term debt borrowings	750,000	0
Note borrowings	500,000	0
Term debt payments	(617,850)	(6,000)
Note payments, including amounts paid for early termination	(515,458)	0
Distributions paid to partners	(144,517)	(139,042)
Payment of debt issuance costs	(19,684)	0
Tax effect of units involved in treasury unit transactions	(2,560)	(1,903)
Payments related to tax withholding for equity compensation	(2,053)	(920)
Net cash for financing activities	(52,122)	(147,865)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	5,892	1,772
CASH AND CASH EQUIVALENTS
Net increase for the period	127,230	67,745
Balance, beginning of period	122,716	119,557
Balance, end of period	249,946	187,302
SUPPLEMENTAL INFORMATION
Net cash payments for interest expense	48,729	61,558
Interest capitalized	1,770	1,699
Cash payments for income taxes, net of refunds	44,090	33,141
Capital expenditures in accounts payable	$ 5,582	$ 3,179

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Basis of Presentation

9 Months Ended

Sep. 24, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared from the financial records of Cedar Fair, L.P. (the Partnership) without audit and reflect all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary to fairly present the results of the interim periods covered in this report. Due to the seasonal nature of the Partnership's amusement and water park operations, the results for any interim period may not be indicative of the results expected for the full fiscal year.

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Significant Accounting and Reporting Policies

9 Months Ended

Sep. 24, 2017

Accounting Policies [Abstract]

Significant Accounting and Reporting Policies

Significant Accounting and Reporting Policies:

The Partnership’s unaudited condensed consolidated financial statements for the periods ended September 24, 2017 and September 25, 2016 included in this Form 10-Q report have been prepared in accordance with the accounting policies described in the Notes to Consolidated Financial Statements for the year ended December 31, 2016, which were included in the Form 10-K filed on February 24, 2017. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (the Commission). These financial statements should be read in conjunction with the financial statements and the notes thereto included in the Form 10-K referred to above.

Adopted Accounting Pronouncements

In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"). The amendments in ASU 2016-09 are meant to simplify the current accounting for share-based payment transactions, specifically the accounting for income taxes, award classification, cash flow presentation, and accounting for forfeitures. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016. The Partnership adopted this guidance in the first quarter of 2017. The impact of the guidance included: (1) prospective recognition of excess tax benefits and tax deficiencies as income tax expense (as opposed to the previous recognition in additional paid-in-capital), approximately $0.7 million of excess tax benefits were recognized in provision for taxes for the nine months ended September 24, 2017; (2) prospective exclusion of future excess tax benefits and deficiencies in the calculation of diluted shares, which had an immaterial impact on net income per limited partner unit for the nine months ending September 24, 2017; (3) prospective classification of excess tax benefits as an operating activity within the statement of cash flows (as opposed to the previous classification as a financing activity), approximately $0.7 million of excess tax benefits were classified as an operating activity for the nine months ended September 24, 2017; (4) the formal accounting policy election to recognize forfeitures as they occur (as opposed to estimating a forfeiture accrual), which did not have a material impact on the Partnership's financial statements; (5) retrospective classification of employee taxes paid when an employer withholds shares for tax withholding purposes as a financing activity within the statement of cash flows (as opposed to the previous classification as an operating activity), approximately $0.9 million was reclassified for the nine months ended September 25, 2016.

New Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). The ASU provides for a single, principles-based model for revenue recognition that replaces the existing revenue recognition guidance. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017 and will replace most existing revenue recognition guidance under U.S. GAAP when it becomes effective. It permits the use of either a retrospective or modified retrospective transition method, and early adoption is permitted only as of an annual reporting period beginning after December 15, 2016, including interim reporting periods within that reporting period. The Partnership expects to adopt this standard in the first quarter of 2018 using the modified retrospective method. The Partnership anticipates the primary impact of the adoption on the consolidated financial statements will be the additional required disclosures around revenue recognition in the notes to the consolidated financial statements. The Partnership does not anticipate adoption of the standard to have a material effect on the consolidated financial statements.

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases ("ASU 2016-02"). The ASU requires the recognition of lease assets and lease liabilities within the balance sheet by lessees for operating leases, as well as requires additional disclosures in the consolidated financial statements regarding the amount, timing, and uncertainty of cash flows arising from leases. The ASU does not significantly change the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee, nor does the ASU change the accounting applied by a lessor. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018. This ASU requires a modified retrospective method and applies to the earliest period presented in the financial statements. The Partnership expects to adopt this standard in the first quarter of 2019. While the Partnership is still in the process of evaluating the effect this standard will have on the consolidated financial statements and related disclosures, the Partnership anticipates recognizing a right-of-use asset and corresponding lease liability on the consolidated balance sheet for the Santa Clara land lease, as well as other operating leases, upon adoption.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 eliminates step two from the goodwill impairment test. Instead, an entity should recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual and any interim impairment tests for periods beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for annual and any interim impairment tests occurring after January 1, 2017. The Partnership has adopted the standard for its 2017 annual impairment test which is currently in process. The Partnership does not anticipate the adoption of the standard to have a material effect on the consolidated financial statements.

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Interim Reporting

9 Months Ended

Sep. 24, 2017

Quarterly Financial Information Disclosure [Abstract]

Interim Reporting

Interim Reporting:

The Partnership owns and operates eleven amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels. The Partnership's seasonal amusement parks are generally open during weekends beginning in April or May, and then daily from Memorial Day until Labor Day, after which they are open during weekends in September and, in most cases, October. The two separately gated outdoor water parks also operate seasonally, generally from Memorial Day to Labor Day, plus some additional weekends before and after this period. As a result, a substantial portion of the Partnership’s revenues from these parks are generated during an approximate 130- to 140-day operating season with the major portion concentrated in the third quarter during the peak vacation months of July and August. In 2017, four of the seasonal properties will extend their operating seasons approximately 20 to 25 days to include WinterFest, a holiday event operating during November and December. Knott's Berry Farm continues to be open daily on a year-round basis. Castaway Bay is generally open daily from Memorial Day to Labor Day with an additional limited daily schedule for the balance of the year.

To assure that these highly seasonal operations will not result in misleading comparisons of current and subsequent interim periods, the Partnership has adopted the following accounting and reporting procedures for its seasonal parks: (a) revenues on multi-use products are recognized over the estimated number of uses expected for each type of product and are adjusted periodically during the operating season prior to the ticket or product expiration, which occurs no later than the close of the operating season, (b) depreciation, certain advertising and certain seasonal operating costs are expensed over each park’s operating season, including some costs incurred prior to the season, which are deferred and amortized over the season, and (c) all other costs are expensed as incurred or ratably over the entire year.

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Long-Lived Assets

9 Months Ended

Sep. 25, 2016

Property, Plant and Equipment [Abstract]

Long-Lived Assets

Long-Lived Assets:

Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that would indicate that the carrying value of the assets may not be recoverable. In order to determine if an asset has been impaired, assets are grouped and tested at the lowest level for which identifiable, independent cash flows are available. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in equity price and market capitalization; a significant adverse change in legal factors or in the business climate; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of these assets and could have a material impact on the Partnership's consolidated financial statements.

The long-lived operating asset impairment test involves a two-step process. The first step is a comparison of each asset group's carrying value to its estimated undiscounted future cash flows expected to result from the use of the assets, including disposition. Projected future cash flows reflect management's best estimates of economic and market conditions over the projected period, including growth rates in revenues and costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates. If the carrying value of the asset group is higher than its undiscounted future cash flows, there is an indication that impairment exists and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the fair value of the asset group to its carrying value in a manner consistent with the highest and best use of those assets. The Partnership estimates fair value of operating assets using an income (discounted cash flows) approach, which uses an asset group's projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital reflective of current market conditions. If the fair value of the assets is less than their carrying value, an impairment charge is recorded for the difference.

Non-operating assets are evaluated for impairment based on changes in market conditions. When changes in market conditions are observed, impairment is estimated using a market-based approach. If the estimated fair value of the non-operating assets is less than their carrying value, an impairment charge is recorded for the difference.

During the third quarter of 2016, the Partnership ceased operations of one of its separately gated outdoor water parks, Wildwater Kingdom, located near Cleveland in Aurora, Ohio. At the date that Wildwater Kingdom ceased operations, the only remaining long-lived asset was the approximate 670 acres of land owned by the Partnership. This land had an associated carrying value of $17.1 million. The Partnership assessed the remaining asset and concluded there was no impairment during the third quarter of 2016. The remaining Wildwater Kingdom acreage, reduced by acreage sold, is classified as assets held-for-sale within "Other Assets" in the unaudited condensed consolidated balance sheet ($16.5 million as of September 24, 2017).

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Goodwill and Other Intangible Assets

9 Months Ended

Sep. 24, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets:

Goodwill and other indefinite-lived intangible assets, including trade-names, are reviewed for impairment annually, or more frequently if indicators of impairment exist. As of September 24, 2017, there were no indicators of impairment. The Partnership's annual testing date is the first day of the fourth quarter. There were no impairments for any period presented.

A summary of changes in the Partnership’s carrying value of goodwill for the nine months ended September 24, 2017 and September 25, 2016 is as follows:

(In thousands)	Goodwill (gross)		Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2016	$	259,528	$	(79,868	)	$	179,660
Foreign currency translation	5,350		—			5,350
Balance at September 24, 2017	$	264,878	$	(79,868	)	$	185,010
Balance at December 31, 2015	$	290,679	$	(79,868	)	$	210,811
Foreign currency translation	4,649		—			4,649
Balance at September 25, 2016	$	295,328	$	(79,868	)	$	215,460

During the fourth quarter of 2016, management reassessed its accounting for the deferred income tax effects related to its Canadian disregarded entity temporary differences that were recorded in purchase accounting at the time of the acquisition. As a result, to appropriately reflect these tax effects, the Partnership recorded an adjustment that reduced goodwill and deferred tax liabilities by $33.9 million as of December 31, 2016. The adjustment did not impact the statement of operations and comprehensive income or the statement of cash flows for any period presented.

As of September 24, 2017, December 31, 2016, and September 25, 2016, the Partnership’s other intangible assets consisted of the following:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
September 24, 2017
Other intangible assets:
Trade names	$	36,794	$	—		$	36,794
License / franchise agreements	3,361		(1,623		)	1,738
Total other intangible assets	$	40,155	$	(1,623	)	$	38,532
December 31, 2016
Other intangible assets:
Trade names	$	35,603	$	—		$	35,603
License / franchise agreements	3,326		(1,092		)	2,234
Total other intangible assets	$	38,929	$	(1,092	)	$	37,837
September 25, 2016
Other intangible assets:
Trade names	$	35,866	$	—		$	35,866
License / franchise agreements	1,475		(911		)	564
Total other intangible assets	$	37,341	$	(911	)	$	36,430

Amortization expense of other intangible assets is expected to continue to be immaterial going forward.

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Long-Term Debt

9 Months Ended

Sep. 24, 2017

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt:

Long-term debt as of September 24, 2017, December 31, 2016, and September 25, 2016 consisted of the following:

(In thousands)	September 24, 2017			December 31, 2016			September 25, 2016
Term debt (1)
April 2017 U.S. term loan averaging 3.38% (due 2017-2024)	$	735,000		$	—		$	—
March 2013 U.S. term loan averaging 3.25% (due 2013-2020)	—			602,850			602,850
Notes
April 2017 U.S. fixed rate notes at 5.375% (due 2027)	500,000			—			—
June 2014 U.S. fixed rate notes at 5.375% (due 2024)	450,000			450,000			450,000
March 2013 U.S. fixed rate notes at 5.25% (due 2021)	—			500,000			500,000
	1,685,000			1,552,850			1,552,850
Less current portion	—			(2,775		)	(1,200		)
	1,685,000			1,550,075			1,551,650
Less debt issuance costs	(25,374		)	(15,864		)	(16,979		)
	$	1,659,626		$	1,534,211		$	1,534,671

(1) The average interest rate is calculated over the life of the instrument and does not reflect the effect of interest rate swap agreements (see Note 6).

In April 2017, the Partnership issued $500 million of 5.375% senior unsecured notes ("April 2017 notes"), maturing in 2027. The net proceeds from the offering of the April 2017 notes, together with borrowings under the 2017 Credit Agreement (defined below), were used to redeem all of the Partnership's 5.25% senior unsecured notes due 2021 ("March 2013 notes"), and pay accrued interest and transaction fees and expenses, to repay in full all amounts outstanding under its existing credit facilities and for general corporate purposes. The redemption of the March 2013 notes and repayments of the amounts outstanding under the existing credit facilities resulted in the write-off of debt issuance costs of $7.6 million and debt premium payments of $15.5 million. Accordingly, the Partnership recorded a loss on debt extinguishment of $23.1 million during the second quarter of 2017.

Concurrently with the April 2017 notes issuance, the Partnership amended and restated its existing $885 million credit agreement (the "2013 Credit Agreement"), which included a $630 million senior secured term loan facility and a $255 million senior secured revolving credit facility. The $1,025 million amended and restated credit agreement (the "2017 Credit Agreement") includes a $750 million senior secured term loan facility and a $275 million senior secured revolving credit facility. The terms of the senior secured term loan facility include a maturity date of April 15, 2024 and an interest rate of London InterBank Offered Rate ("LIBOR") plus 225 basis points (bps). The term loan amortizes at $7.5 million annually. The facilities provided under the 2017 Credit Agreement are collateralized by substantially all of the assets of the Partnership.

Terms of the 2017 Credit Agreement include a revolving credit facility of a combined $275 million with a Canadian sub-limit of $15 million. Borrowings under the senior secured revolving credit facility bear interest at LIBOR or Canadian Dollar Offered Rate ("CDOR") plus 200 bps. The revolving credit facility is scheduled to mature in April 2022 and also provides for the issuance of documentary and standby letters of credit. The 2017 Credit Agreement requires the payment of a 37.5 bps commitment fee per annum on the unused portion of the credit facilities.

The April 2017 notes pay interest semi-annually in April and October, with the principal due in full on April 15, 2027. Prior to April 15, 2020, up to 35% of the notes may be redeemed with the net cash proceeds of certain equity offerings at a price equal to 105.375% of the principal amount thereof, together with accrued and unpaid interest and additional interest, if any. The notes may be redeemed, in whole or in part, at any time prior to April 15, 2022 at a price equal to 100% of the principal amount of the notes redeemed plus a "make-whole" premium together with accrued and unpaid interest and additional interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed.

In June 2014, the Partnership issued $450 million of 5.375% senior unsecured notes ("June 2014 notes"), maturing in 2024. The Partnership's June 2014 notes pay interest semi-annually in June and December, with the principal due in full on June 1, 2024. The notes may be redeemed, in whole or in part, at any time prior to June 1, 2019 at a price equal to 100% of the principal amount of the notes redeemed together plus a "make-whole" premium together with accrued and unpaid interest, if any, to the redemption date. Thereafter, the notes may be redeemed, in whole or in part, at various prices depending on the date redeemed.

The 2017 Credit Agreement includes a Consolidated Leverage Ratio, which if breached for any reason and not cured could result in an event of default. The ratio is set at a maximum of 5.50x consolidated total debt-to-consolidated EBITDA. As of September 24, 2017, the Partnership was in compliance with this financial condition covenant and all other covenants under the 2017 Credit Agreement.

The Partnership's long-term debt agreements include Restricted Payment provisions. Pursuant to the terms of the indenture governing the Partnership's June 2014 notes, which includes the most restrictive of these Restricted Payments provisions, the Partnership can make Restricted Payments of $60 million annually so long as no default or event of default has occurred and is continuing; and the Partnership's ability to make additional Restricted Payments is permitted should the Partnership's pro forma Total-Indebtedness-to-Consolidated-Cash-Flow Ratio be less than or equal to 5.00x.

As market conditions warrant, the Partnership may from time to time repurchase debt securities issued by the Partnership, in privately negotiated or open market transactions, by tender offer, exchange offer or otherwise.

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Derivative Financial Instruments

9 Months Ended

Sep. 24, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments:

Derivative financial instruments are used within the Partnership’s overall risk management program to manage certain interest rate and foreign currency risks. By utilizing a derivative instrument to hedge exposure to LIBOR rate changes, the Partnership is exposed to counterparty credit risk, in particular the failure of the counterparty to perform under the terms of the derivative contract. To mitigate this risk, hedging instruments are placed with a counterparty that the Partnership believes poses minimal credit risk. The Partnership does not use derivative financial instruments for trading purposes.

In the first quarter of 2016, the Partnership amended each of its four interest rate swap agreements to extend each of the maturities by two years to December 31, 2020 and effectively convert $500 million of variable-rate debt to a rate of 2.64%. As a result of the amendments, the previously existing interest rate swap agreements were de-designated, and the amounts recorded in AOCI are being amortized into earnings through the original December 31, 2018 maturity. The amended interest rate swap agreements are not designated as hedging instruments.

The fair market value of the Partnership's swap portfolio was recorded within "Derivative Liability" on the unaudited condensed consolidated balance sheets as of September 24, 2017, December 31, 2016, and September 25, 2016 as follows:

(In thousands)	September 24, 2017			December 31, 2016			September 25, 2016
Derivatives not designated as hedging instruments:
Interest rate swaps	$	(14,849	)	$	(17,721	)	$	(30,185	)

Derivatives Designated as Hedging Instruments

Changes in fair value of highly effective hedges are recorded as a component of AOCI in the balance sheet. Any ineffectiveness is recognized immediately in income. Amounts recorded as a component of accumulated other comprehensive income are reclassified into earnings in the same period the forecasted transactions affect earnings. As a result of the first quarter of 2016 amendments, the previously existing interest rate swap agreements were de-designated and the amended interest rate swap agreements are not designated as hedging instruments. As of September 24, 2017, the Partnership has no designated derivatives; therefore, no amount of designated derivatives are forecasted to be reclassified into earnings in the next twelve months.

Derivatives Not Designated as Hedging Instruments

Instruments that do not qualify for hedge accounting or were de-designated are prospectively adjusted to fair value each reporting period through "Net effect of swaps" in the unaudited condensed consolidated statements of operations and comprehensive income. The amounts that were previously recorded as a component of AOCI prior to the de-designation are reclassified to earnings, and a corresponding realized gain or loss will be recognized when the forecasted cash flow occurs. As a result of the first quarter 2016 amendments, the previously existing interest rate swap agreements were de-designated, and the amounts previously recorded in AOCI are being amortized into earnings through the original December 31, 2018 maturity. As of September 24, 2017, approximately $11.8 million of losses remain in AOCI related to the effective cash flow hedge contracts prior to de-designation, $9.5 million of which will be reclassified to earnings within the next twelve months.

The following table summarizes the effect of derivative instruments on income and other comprehensive income for the three months ended September 24, 2017 and September 25, 2016:

(In thousands)	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)				Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)					Amount and Location of Gain (Loss) Recognized in Income on Derivatives
Designated Derivatives	Three months ended 9/24/2017		Three months ended 9/25/2016		Designated Derivatives	Three months ended 9/24/2017		Three months ended 9/25/2016		Derivatives Not Designated	Three months ended 9/24/2017		Three months ended 9/25/2016
Interest rate swaps	$	—	$	—	Interest Expense	$	—	$	—	Net effect of swaps	$	3,318	$	715

During the quarter ended September 24, 2017, the Partnership recognized $3.3 million of gains on the derivatives not designated as cash flow hedges and $2.4 million of expense representing the regular amortization of amounts in AOCI. The effect of these amounts resulted in a benefit to earnings of $1.0 million recorded in “Net effect of swaps.”

During the quarter ended September 25, 2016, the Partnership recognized $0.7 million of gains on the derivatives not designated as cash flow hedges and $2.4 million of expense representing the amortization of amounts in AOCI. The effect of these amounts resulted in a charge to earnings of $1.7 million recorded in “Net effect of swaps.”

The following table summarizes the effect of derivative instruments on income and other comprehensive income for the nine months ended September 24, 2017 and September 25, 2016:

(In thousands)	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)					Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivatives
Designated Derivatives	Nine months ended 9/24/2017		Nine months ended 9/25/2016			Designated Derivatives	Nine months ended 9/24/2017		Nine months ended 9/25/2016			Derivatives Not Designated	Nine months ended 9/24/2017		Nine months ended 9/25/2016
Interest rate swaps	$	—	$	(4,671	)	Interest Expense	$	—	$	(851	)	Net effect of swaps	$	3,378	$	(2,596	)

During the nine-month period ended September 24, 2017, the Partnership recognized $3.4 million of gains on the derivatives not designated as cash flow hedges and $7.1 million of expense representing the regular amortization of amounts in AOCI. The effect of these amounts resulted in a charge to earnings of $3.7 million recorded in “Net effect of swaps.”

During the nine-month period ended September 25, 2016, the Partnership recognized $2.6 million of losses on the derivatives not designated as cash flow hedges and $6.3 million of expense representing the amortization of amounts in AOCI. The effect of these amounts resulted in a charge to earnings of $8.9 million recorded in “Net effect of swaps.”

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Fair Value Measurements

9 Months Ended

Sep. 24, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements:

The FASB's Accounting Standards Codification (ASC) 820 - Fair Value Measurements and Disclosures emphasizes that fair value is a market-based measurement that should be determined based on assumptions (inputs) that market participants would use in pricing an asset or liability. Inputs may be observable or unobservable, and valuation techniques used to measure fair value should maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Accordingly, FASB ASC 820 establishes a hierarchal disclosure framework that ranks the quality and reliability of information used to determine fair values. The hierarchy is associated with the level of pricing observability utilized in measuring fair value and defines three levels of inputs to the fair value measurement process. Quoted prices are the most reliable valuation inputs, whereas model values that include inputs based on unobservable data are the least reliable. Each fair value measurement must be assigned to a level corresponding to the lowest level input that is significant to the fair value measurement in its entirety.

The three broad levels of inputs defined by the fair value hierarchy are as follows:

• Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

• Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

• Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The table below presents the balances of assets and liabilities measured at fair value as of September 24, 2017, December 31, 2016, and September 25, 2016 on a recurring basis as well as the fair values of other financial instruments:

(In thousands)	Unaudited Condensed  Consolidated Balance Sheet Location	Fair Value Hierarchy Level	September 24, 2017						December 31, 2016						September 25, 2016
			Carrying Value			Fair  Value			Carrying Value			Fair  Value			Carrying Value			Fair  Value
Financial assets (liabilities) measured on a recurring basis:
Short-term investments	Other current assets	Level 1	$	688		$	688		—			—			—			—
Interest rate swap agreements not designated as cash flow hedges	Derivative Liability	Level 2	$	(14,849	)	$	(14,849	)	$	(17,721	)	$	(17,721	)	$	(30,185	)	$	(30,185	)
Other financial assets (liabilities):
March 2013 term debt	Long-Term Debt (1)	Level 2	—			—			$	(600,075	)	$	(603,075	)	$	(601,650	)	$	(603,154	)
April 2017 term debt	Long-Term Debt (1)	Level 2	$	(735,000	)	$	(740,513	)	—			—			—			—
March 2013 notes	Long-Term Debt (1)	Level 1	—			—			$	(500,000	)	$	(510,000	)	$	(500,000	)	$	(520,000	)
June 2014 notes	Long-Term Debt (1)	Level 1	$	(450,000	)	$	(472,500	)	$	(450,000	)	$	(462,375	)	$	(450,000	)	$	(477,000	)
April 2017 notes	Long-Term Debt (1)	Level 2	$	(500,000	)	$	(527,500	)	—			—			—			—

(1) Carrying values of long-term debt balances are before reductions for debt issuance costs of $25.4 million, $15.9 million, and $17.0 million as of September 24, 2017, December 31, 2016, and September 25, 2016, respectively.

Fair values of the interest rate swap agreements are determined using significant inputs, including the LIBOR forward curves, which are considered Level 2 observable market inputs.

The carrying value of cash and cash equivalents, revolving credit loans, accounts receivable, current portion of term debt, accounts payable, and accrued liabilities approximates fair value because of the short maturity of these instruments. There were no assets measured at fair value on a non-recurring basis as of September 24, 2017, December 31, 2016, or September 25, 2016.

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Earnings per Unit

9 Months Ended

Sep. 24, 2017

Earnings Per Unit [Abstract]

Earnings Per Unit

Earnings per Unit:

Net income per limited partner unit is calculated based on the following unit amounts:

	Three months ended				Nine months ended
	9/24/2017		9/25/2016		9/24/2017		9/25/2016
	(In thousands, except per unit amounts)
Basic weighted average units outstanding	56,078		55,948		56,062		55,922
Effect of dilutive units:
Deferred units	44		33		41		30
Performance units	—		—		48		43
Restricted units	284		253		292		266
Unit options	185		131		188		131
Diluted weighted average units outstanding	56,591		56,365		56,631		56,392
Net income per unit - basic	$	3.41	$	3.13	$	2.82	$	3.30
Net income per unit - diluted	$	3.38	$	3.10	$	2.79	$	3.27

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Income and Partnership Taxes

9 Months Ended

Sep. 24, 2017

Income Tax Disclosure [Abstract]

Income and Partnership Taxes

Income and Partnership Taxes:

Under the applicable accounting rules, income taxes are recognized for the amount of taxes payable by the Partnership’s corporate subsidiaries for the current year and for the impact of deferred tax assets and liabilities, which represent future tax consequences of events that have been recognized differently in the financial statements than for tax purposes. The income tax provision (benefit) for interim periods is determined by applying an estimated annual effective tax rate to the quarterly income (loss) of the Partnership’s corporate subsidiaries. In addition to income taxes on its corporate subsidiaries, the Partnership is subject to a publicly traded partnership tax (PTP tax) on partnership-level gross income (net revenues less cost of food, merchandise and games). As such, the Partnership’s total provision (benefit) for taxes includes amounts for both the PTP tax and for income taxes on its subsidiaries.

As of the end of the third quarter of 2017, the Partnership has recorded $0.7 million of unrecognized tax benefits including interest and/or penalties related to state and local tax filing positions. The Partnership recognizes interest and/or penalties related to unrecognized tax benefits in the income tax provision. The Partnership does not anticipate that the balance of the unrecognized tax benefit will change significantly over the next 12 months.

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Changes in Accumulated Other Comprehensive Income by Component

9 Months Ended

Sep. 24, 2017

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income by Component

Changes in Accumulated Other Comprehensive Income by Component:

The following tables reflect the changes in accumulated other comprehensive income related to limited partners' equity for the three months ended September 24, 2017 and September 25, 2016:

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at June 25, 2017	$	(11,963	)	$	16,949		$	4,986
Other comprehensive income before reclassifications	—			(11,143		)	(11,143		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($371) (2)	1,994			—			1,994
Net other comprehensive income	1,994			(11,143		)	(9,149		)
Balance at September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation		Total
Balance at June 26, 2016	$	(19,938	)	$	15,747	$	(4,191	)
Other comprehensive income before reclassifications, net of tax ($803)	—			1,397		1,397
Amounts reclassified from accumulated other comprehensive income, net of tax ($371) (2)	1,994			—		1,994
Net other comprehensive income	1,994			1,397		3,391
Balance at September 25, 2016	$	(17,944	)	$	17,144	$	(800	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement Where Net Income is Presented
(In thousands)	Three months ended 9/24/2017			Three months ended 9/25/2016
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(371		)	(371		)	Provision for taxes
Losses on cash flow hedges	$	1,994		$	1,994		Net of tax

The following tables reflect the changes in accumulated other comprehensive income related to limited partners' equity for the nine months ended September 24, 2017 and September 25, 2016:

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at December 31, 2016	$	(15,950	)	$	18,891		$	2,941
Other comprehensive income before reclassifications	—			(13,085		)	(13,085		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,113) (2)	5,981			—			5,981
Net other comprehensive income	5,981			(13,085		)	(7,104		)
Balance at September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at December 31, 2015	$	(19,300	)	$	22,591		$	3,291
Other comprehensive income before reclassifications, net of tax $711 and $3,131, respectively	(3,960		)	(5,447		)	(9,407		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($990) (2)	5,316			—			5,316
Net other comprehensive income	1,356			(5,447		)	(4,091		)
Balance at September 25, 2016	$	(17,944	)	$	17,144		$	(800	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassifications Out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement Where Net Income is Presented
(In thousands)	Nine months ended 9/24/2017			Nine months ended 9/25/2016
Interest rate contracts	$	7,094		$	6,306		Net effect of swaps
Provision for taxes	(1,113		)	(990		)	Provision for taxes
Losses on cash flow hedges	$	5,981		$	5,316		Net of tax

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Contingencies

9 Months Ended

Sep. 24, 2017

Commitments and Contingencies Disclosure [Abstract]

Contingencies

Contingencies:

The Partnership is a party to a number of lawsuits arising in the normal course of business. In the opinion of management, none of these matters are expected to have a material effect in the aggregate on the Partnership's financial statements.

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Consolidating Financial Information of Guarantors and Issuers

9 Months Ended

Sep. 24, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Consolidating Financial Information of Guarantors and Issuers

Consolidating Financial Information of Guarantors and Issuers:

Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), and Magnum Management Corporation ("Magnum") are the co-issuers of the Partnership's June 2014 notes (see Note 5). The notes have been fully and unconditionally guaranteed, on a joint and several basis, by each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum) that guarantees the Partnership's senior secured credit facilities. There are no non-guarantor subsidiaries.

The following consolidating schedules present condensed financial information for Cedar Fair, L.P., Cedar Canada, and Magnum, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum), the guarantors (on a combined basis), as of September 24, 2017, December 31, 2016, and September 25, 2016 and for the three-month and nine-month periods ended September 24, 2017 and September 25, 2016. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the Partnership has included the accompanying unaudited condensed consolidating financial statements.

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	92,047	$	160,593	$	(2,694	)	$	249,946
Receivables	—		1,285		33,158		837,594		(819,734		)	52,303
Inventories	—		—		2,423		31,817		—			34,240
Other current assets	275		12,843		743		16,829		(12,066		)	18,624
	275		14,128		128,371		1,046,833		(834,494		)	355,113
Property and Equipment, net	—		842		183,205		1,396,463		—			1,580,510
Investment in Park	566,548		1,016,857		224,464		222,953		(2,030,822		)	—
Goodwill	674		—		64,730		119,606		—			185,010
Other Intangibles, net	—		—		14,443		24,089		—			38,532
Deferred Tax Asset	—		32,190		—		—		(32,190		)	—
Other Assets	—		—		53		17,354		—			17,407
	$	567,497	$	1,064,017	$	615,266	$	2,827,298	$	(2,897,506	)	$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	478,416	$	345,150	$	6,431	$	26,141	$	(822,428	)	$	33,710
Deferred revenue	—		—		7,137		79,595		—			86,732
Accrued interest	292		195		9,209		14,232		—			23,928
Accrued taxes	1,589		—		14,910		74,224		(12,066		)	78,657
Accrued salaries, wages and benefits	—		28,306		2,360		—		—			30,666
Self-insurance reserves	—		12,090		1,725		13,734		—			27,549
Other accrued liabilities	2,985		7,772		499		9,306		—			20,562
	483,282		393,513		42,271		217,232		(834,494		)	301,804
Deferred Tax Liability	—		—		19,511		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—			14,849
Other Liabilities	—		1,398		—		10,942		—			12,340
Long-Term Debt:
Term debt	—		127,402		—		595,983		—			723,385
Notes	—		—		444,874		491,367		—			936,241
	—		127,402		444,874		1,087,350		—			1,659,626
Equity	75,282		535,788		108,610		1,386,424		(2,030,822		)	75,282
	$	567,497	$	1,064,017	$	615,266	$	2,827,298	$	(2,897,506	)	$	2,176,572

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	65,563	$	58,178	$	(1,025	)	$	122,716
Receivables	—		1,409		28,019		576,975		(570,989		)	35,414
Inventories	—		—		1,371		24,905		—			26,276
Other current assets	173		796		2,229		9,833		(1,761		)	11,270
	173		2,205		97,182		669,891		(573,775		)	195,676
Property and Equipment, net	—		844		175,358		1,363,018		—			1,539,220
Investment in Park	798,076		937,626		200,075		324,282		(2,260,059		)	—
Goodwill	674		—		59,381		119,605		—			179,660
Other Intangibles, net	—		—		13,255		24,582		—			37,837
Deferred Tax Asset	—		33,303		—		—		(33,303		)	—
Other Assets	—		2,000		108		18,680		—			20,788
	$	798,923	$	975,978	$	545,359	$	2,520,058	$	(2,867,137	)	$	1,973,181
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	572	$	64	$	2,139	$	—		2,775
Accounts payable	428,396		145,258		740		18,471		(572,014		)	20,851
Deferred revenue	—		—		5,601		77,164		—			82,765
Accrued interest	4,613		3,207		2,057		109		—			9,986
Accrued taxes	405		18,653		—		41,661		(1,761		)	58,958
Accrued salaries, wages and benefits	—		29,227		1,131		—		—			30,358
Self-insurance reserves	—		12,490		1,321		13,252					27,063
Other accrued liabilities	2,282		3,018		193		4,434		—			9,927
	435,696		212,425		11,107		157,230		(573,775		)	242,683
Deferred Tax Liability	—		—		12,838		125,350		(33,303		)	104,885
Derivative Liability	10,633		7,088		—		—		—			17,721
Other Liabilities	—		1,236		—		11,926		—			13,162
Long-Term Debt:
Term debt	—		123,672		13,598		456,958		—			594,228
Notes	292,075		203,140		444,768		—		—			939,983
	292,075		326,812		458,366		456,958		—			1,534,211
Equity	60,519		428,417		63,048		1,768,594		(2,260,059		)	60,519
	$	798,923	$	975,978	$	545,359	$	2,520,058	$	(2,867,137	)	$	1,973,181

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	—	$	75,562	$	111,740	$	—		$	187,302
Receivables	(5		)	1,387		24,964		585,190		(560,000		)	51,536
Inventories	—			—		1,519		29,540		—			31,059
Other current assets	275			24,479		680		12,800		(24,425		)	13,809
	270			25,866		102,725		739,270		(584,425		)	283,706
Property and Equipment, net	—			876		179,172		1,345,992		—			1,526,040
Investment in Park	820,465			963,870		197,538		347,137		(2,329,010		)	—
Goodwill	674			—		95,180		119,606		—			215,460
Other Intangibles, net	—			—		13,519		22,911		—			36,430
Deferred Tax Asset	—			3,651		—		—		(3,651		)	—
Other Assets	—			1,999		123		19,351		—			21,473
	$	821,409		$	996,262	$	588,257	$	2,594,267	$	(2,917,086	)	$	2,083,109
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	247	$	28	$	925	$	—		$	1,200
Accounts payable	399,384			164,335		1,342		27,830		(560,000		)	32,891
Deferred revenue	—			—		5,091		60,657		—			65,748
Accrued interest	875			597		7,784		1,683		—			10,939
Accrued taxes	3,325			—		14,109		76,907		(24,425		)	69,916
Accrued salaries, wages and benefits	—			40,588		2,156		—		—			42,744
Self-insurance reserves	—			12,394		1,567		12,859		—			26,820
Other accrued liabilities	2,358			3,532		510		5,948		—			12,348
	405,942			221,693		32,587		186,809		(584,425		)	262,606
Deferred Tax Liability	—			—		19,497		121,866		(3,651		)	137,712
Derivative Liability	18,111			12,074		—		—		—			30,185
Other Liabilities	—			1,520		—		10,968		—			12,488
Long-Term Debt:
Term debt	—			123,996		13,616		457,641		—			595,253
Notes	291,909			203,025		444,484		—		—			939,418
	291,909			327,021		458,100		457,641		—			1,534,671
Equity	105,447			433,954		78,073		1,816,983		(2,329,010		)	105,447
	$	821,409		$	996,262	$	588,257	$	2,594,267	$	(2,917,086	)	$	2,083,109

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	69,999		$	169,429		$	85,963		$	596,837		$	(269,539	)	$	652,689
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			7,735			44,912			—			52,647
Operating expenses	—			118,614			19,627			334,008			(269,539		)	202,710
Selling, general and administrative	327			21,752			4,539			45,045			—			71,663
Depreciation and amortization	—			9			7,856			62,195			—			70,060
Loss on impairment / retirement of fixed assets, net	—			—			87			1,260			—			1,347
Gain on sale of investment	—			(1,877		)	—			—			—			(1,877		)
	327			138,498			39,844			487,420			(269,539		)	396,550
Operating income	69,672			30,931			46,119			109,417			—			256,139
Interest expense, net	4,857			4,305			6,152			5,973			—			21,287
Net effect of swaps	(578		)	(374		)	—			—			—			(952		)
Gain on foreign currency	—			(27		)	(29,166		)	—			—			(29,193		)
Other (income) expense	62			(26,676		)	1,163			25,386			—			(65		)
Income from investment in affiliates	(132,699		)	(98,522		)	(16,843		)	(58,378		)	306,442			—
Income before taxes	198,030			152,225			84,813			136,436			(306,442		)	265,062
Provision for taxes	6,715			19,526			26,432			21,074			—			73,747
Net income	$	191,315		$	132,699		$	58,381		$	115,362		$	(306,442	)	$	191,315
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143		)	—			(11,143		)	—			11,143			(11,143		)
Unrealized gain on cash flow hedging derivatives	1,994			605			—			—			(605		)	1,994
Other comprehensive income (loss), (net of tax)	(9,149		)	605			(11,143		)	—			10,538			(9,149		)
Total comprehensive income	$	182,166		$	133,304		$	47,238		$	115,362		$	(295,904	)	$	182,166

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,371		$	172,703		$	77,164		$	606,823		$	(298,778	)	$	650,283
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			6,417			45,640			—			52,057
Operating expenses	(10		)	119,140			17,885			361,055			(298,778		)	199,292
Selling, general and administrative	610			21,412			4,413			38,664			—			65,099
Depreciation and amortization	—			9			7,624			57,052			—			64,685
Loss on impairment / retirement of fixed assets, net	—			—			57			1,298			—			1,355
	600			140,561			36,396			503,709			(298,778		)	382,488
Operating income	91,771			32,142			40,768			103,114			—			267,795
Interest expense, net	7,984			5,759			6,323			833			—			20,899
Net effect of swaps	959			691			—			—			—			1,650
Loss on foreign currency	—			—			7,337			4			—			7,341
Other (income) expense	62			(29,663		)	1,302			28,299			—			—
Income from investment in affiliates	(98,451		)	(62,240		)	(12,574		)	(28,737		)	202,002			—
Income before taxes	181,217			117,595			38,380			102,715			(202,002		)	237,905
Provision for taxes	6,230			19,142			9,643			27,903			—			62,918
Net income	$	174,987		$	98,453		$	28,737		$	74,812		$	(202,002	)	$	174,987
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	1,397			—			1,397			—			(1,397		)	1,397
Unrealized gain on cash flow hedging derivatives	1,994			606			—			—			(606		)	1,994
Other comprehensive income (loss), (net of tax)	3,391			606			1,397			—			(2,003		)	3,391
Total comprehensive income	$	178,378		$	99,059		$	30,134		$	74,812		$	(204,005	)	$	178,378

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,672		$	262,739		$	114,141		$	1,019,399		$	(395,146	)	$	1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			10,569			81,807			—			92,376
Operating expenses	—			248,047			37,701			556,777			(395,146		)	447,379
Selling, general and administrative	2,254			51,358			8,592			88,938			—			151,142
Depreciation and amortization	—			26			12,869			113,342			—			126,237
Loss on impairment / retirement of fixed assets, net	—			—			542			2,515			—			3,057
Gain on sale of investment	—			(1,877		)	—			—			—			(1,877		)
	2,254			297,554			70,273			843,379			(395,146		)	818,314
Operating income (loss)	90,418			(34,815		)	43,868			176,020			—			275,491
Interest expense, net	18,285			13,893			18,317			11,578			—			62,073
Net effect of swaps	2,162			1,555			—			—			—			3,717
Loss on early debt extinguishment	11,773			8,188			198			2,956			—			23,115
Gain on foreign currency	—			(27		)	(35,020		)	—			—			(35,047		)
Other (income) expense	187			(56,623		)	2,640			53,731			—			(65		)
Income from investment in affiliates	(108,835		)	(109,414		)	(24,389		)	(58,648		)	301,286			—
Income before taxes	166,846			107,613			82,122			166,403			(301,286		)	221,698
Provision (benefit) for taxes	8,917			(1,223		)	23,473			32,602			—			63,769
Net income	$	157,929		$	108,836		$	58,649		$	133,801		$	(301,286	)	$	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(13,085		)	—			(13,085		)	—			13,085			(13,085		)
Unrealized gain on cash flow hedging derivatives	5,981			1,816			—			—			(1,816		)	5,981
Other comprehensive income (loss), (net of tax)	(7,104		)	1,816			(13,085		)	—			11,269			(7,104		)
Total comprehensive income	$	150,825		$	110,652		$	45,564		$	133,801		$	(290,017	)	$	150,825

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	131,215		$	271,069		$	107,637		$	1,036,162		$	(449,328	)	$	1,096,755
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,389			83,471			—			92,860
Operating expenses	2			246,624			36,249			607,874			(449,328		)	441,421
Selling, general and administrative	2,264			49,307			8,757			81,754			—			142,082
Depreciation and amortization	—			27			13,022			105,126			—			118,175
Loss on impairment / retirement of fixed assets, net	—			—			83			5,299			—			5,382
	2,266			295,958			67,500			883,524			(449,328		)	799,920
Operating income (loss)	128,949			(24,889		)	40,137			152,638			—			296,835
Interest expense, net	23,776			17,830			18,672			1,507			—			61,785
Net effect of swaps	5,617			3,285			—			—			—			8,902
(Gain) loss on foreign currency	—			—			(23,679		)	4			—			(23,675		)
Other (income) expense	187			(69,801		)	3,051			66,563			—			—
Income from investment in affiliates	(94,910		)	(78,515		)	(18,008		)	(44,399		)	235,832			—
Income before taxes	194,279			102,312			60,101			128,963			(235,832		)	249,823
Provision for taxes	9,795			7,403			15,701			32,440			—			65,339
Net income	$	184,484		$	94,909		$	44,400		$	96,523		$	(235,832	)	$	184,484
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,447		)	—			(5,447		)	—			5,447			(5,447		)
Unrealized gain on cash flow hedging derivatives	1,356			455			—			—			(455		)	1,356
Other comprehensive income (loss), (net of tax)	(4,091		)	455			(5,447		)	—			4,992			(4,091		)
Total comprehensive income	$	180,393		$	95,364		$	38,953		$	96,523		$	(230,840	)	$	180,393

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	61,966		$	(3,954	)	$	40,125		$	227,588		$	(3,107	)	$	322,618
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(248,190		)	248,190			—
Proceeds from returns on investments	338,000			15,500			—			146,500			(500,000		)	—
Proceeds from sale of investment	—			3,281			—			—			—			3,281
Purchase of identifiable intangible assets	—			—			—			(66		)	—			(66		)
Capital expenditures	—			(25		)	(5,679		)	(146,669		)	—			(152,373		)
Net cash from (for) investing activities	338,000			18,756			(5,679		)	(248,425		)	(251,810		)	(149,158		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	50,003			198,187			—			—			(248,190		)	—
Payments for returns of capital	—			—			—			(500,000		)	500,000			—
Term debt borrowings	—			131,000			—			619,000			—			750,000
Note borrowings	—			—			—			500,000			—			500,000
Term debt payments	—			(126,619		)	(13,854		)	(477,377		)	—			(617,850		)
Note payments, including amounts paid for early termination	(304,014		)	(211,444		)	—			—			—			(515,458		)
Distributions paid to partners	(145,955		)	—			—			—			1,438			(144,517		)
Payment of debt issuance costs	—			(1,313		)	—			(18,371		)	—			(19,684		)
Tax effect of units involved in treasury unit transactions	—			(2,560		)	—			—			—			(2,560		)
Payments related to tax withholding for equity compensation	—			(2,053		)	—			—			—			(2,053		)
Net cash from (for) financing activities	(399,966		)	(14,802		)	(13,854		)	123,252			253,248			(52,122		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			5,892			—			—			5,892
CASH AND CASH EQUIVALENTS
Net increase for the period	—			—			26,484			102,415			(1,669		)	127,230
Balance, beginning of period	—			—			65,563			58,178			(1,025		)	122,716
Balance, end of period	$	—		$	—		$	92,047		$	160,593		$	(2,694	)	$	249,946

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	99,232		$	(54,042	)	$	41,273		$	256,105		$	(1,866	)	$	340,702
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(22,771		)	22,771			—
Capital expenditures	—			—			(6,451		)	(120,413		)	—			(126,864		)
Net cash for investing activities	—			—			(6,451		)	(143,184		)	22,771			(126,864		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt payments	—			(1,237		)	(138		)	(4,625		)	—			(6,000		)
Distributions paid to partners	(140,908		)	—			—			—			1,866			(139,042		)
Intercompany payables (payments) receipts	(35,331		)	58,102			—			—			(22,771		)	—
Tax effect of units involved in treasury unit transactions	—			(1,903		)	—			—			—			(1,903		)
Payments related to tax withholding for equity compensation	—			(920		)	—			—			—			(920		)
Net cash from (for) financing activities	(176,239		)	54,042			(138		)	(4,625		)	(20,905		)	(147,865		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			1,772			—			—			1,772
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(77,007		)	—			36,456			108,296			—			67,745
Balance, beginning of period	77,007			—			39,106			3,444			—			119,557
Balance, end of period	$	—		$	—		$	75,562		$	111,740		$	—		$	187,302

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Significant Accounting and Reporting Policies (Policies)

9 Months Ended

Sep. 24, 2017

Accounting Policies [Abstract]

New Accounting Pronouncements

Adopted Accounting Pronouncements

In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"). The amendments in ASU 2016-09 are meant to simplify the current accounting for share-based payment transactions, specifically the accounting for income taxes, award classification, cash flow presentation, and accounting for forfeitures. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016. The Partnership adopted this guidance in the first quarter of 2017. The impact of the guidance included: (1) prospective recognition of excess tax benefits and tax deficiencies as income tax expense (as opposed to the previous recognition in additional paid-in-capital), approximately $0.7 million of excess tax benefits were recognized in provision for taxes for the nine months ended September 24, 2017; (2) prospective exclusion of future excess tax benefits and deficiencies in the calculation of diluted shares, which had an immaterial impact on net income per limited partner unit for the nine months ending September 24, 2017; (3) prospective classification of excess tax benefits as an operating activity within the statement of cash flows (as opposed to the previous classification as a financing activity), approximately $0.7 million of excess tax benefits were classified as an operating activity for the nine months ended September 24, 2017; (4) the formal accounting policy election to recognize forfeitures as they occur (as opposed to estimating a forfeiture accrual), which did not have a material impact on the Partnership's financial statements; (5) retrospective classification of employee taxes paid when an employer withholds shares for tax withholding purposes as a financing activity within the statement of cash flows (as opposed to the previous classification as an operating activity), approximately $0.9 million was reclassified for the nine months ended September 25, 2016.

New Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). The ASU provides for a single, principles-based model for revenue recognition that replaces the existing revenue recognition guidance. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017 and will replace most existing revenue recognition guidance under U.S. GAAP when it becomes effective. It permits the use of either a retrospective or modified retrospective transition method, and early adoption is permitted only as of an annual reporting period beginning after December 15, 2016, including interim reporting periods within that reporting period. The Partnership expects to adopt this standard in the first quarter of 2018 using the modified retrospective method. The Partnership anticipates the primary impact of the adoption on the consolidated financial statements will be the additional required disclosures around revenue recognition in the notes to the consolidated financial statements. The Partnership does not anticipate adoption of the standard to have a material effect on the consolidated financial statements.

In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases ("ASU 2016-02"). The ASU requires the recognition of lease assets and lease liabilities within the balance sheet by lessees for operating leases, as well as requires additional disclosures in the consolidated financial statements regarding the amount, timing, and uncertainty of cash flows arising from leases. The ASU does not significantly change the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee, nor does the ASU change the accounting applied by a lessor. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018. This ASU requires a modified retrospective method and applies to the earliest period presented in the financial statements. The Partnership expects to adopt this standard in the first quarter of 2019. While the Partnership is still in the process of evaluating the effect this standard will have on the consolidated financial statements and related disclosures, the Partnership anticipates recognizing a right-of-use asset and corresponding lease liability on the consolidated balance sheet for the Santa Clara land lease, as well as other operating leases, upon adoption.

In January 2017, the FASB issued Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). ASU 2017-04 eliminates step two from the goodwill impairment test. Instead, an entity should recognize an impairment charge for the amount by which a reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for annual and any interim impairment tests for periods beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for annual and any interim impairment tests occurring after January 1, 2017. The Partnership has adopted the standard for its 2017 annual impairment test which is currently in process. The Partnership does not anticipate the adoption of the standard to have a material effect on the consolidated financial statements.

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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 24, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in Partnership's carrying value of goodwill

A summary of changes in the Partnership’s carrying value of goodwill for the nine months ended September 24, 2017 and September 25, 2016 is as follows:

(In thousands)	Goodwill (gross)		Accumulated Impairment Losses			Goodwill (net)
Balance at December 31, 2016	$	259,528	$	(79,868	)	$	179,660
Foreign currency translation	5,350		—			5,350
Balance at September 24, 2017	$	264,878	$	(79,868	)	$	185,010
Balance at December 31, 2015	$	290,679	$	(79,868	)	$	210,811
Foreign currency translation	4,649		—			4,649
Balance at September 25, 2016	$	295,328	$	(79,868	)	$	215,460

Partnership's other intangible assets

As of September 24, 2017, December 31, 2016, and September 25, 2016, the Partnership’s other intangible assets consisted of the following:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
September 24, 2017
Other intangible assets:
Trade names	$	36,794	$	—		$	36,794
License / franchise agreements	3,361		(1,623		)	1,738
Total other intangible assets	$	40,155	$	(1,623	)	$	38,532
December 31, 2016
Other intangible assets:
Trade names	$	35,603	$	—		$	35,603
License / franchise agreements	3,326		(1,092		)	2,234
Total other intangible assets	$	38,929	$	(1,092	)	$	37,837
September 25, 2016
Other intangible assets:
Trade names	$	35,866	$	—		$	35,866
License / franchise agreements	1,475		(911		)	564
Total other intangible assets	$	37,341	$	(911	)	$	36,430

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Long-Term Debt Long term debt table (Tables)

9 Months Ended

Sep. 24, 2017

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt as of September 24, 2017, December 31, 2016, and September 25, 2016 consisted of the following:

(In thousands)	September 24, 2017			December 31, 2016			September 25, 2016
Term debt (1)
April 2017 U.S. term loan averaging 3.38% (due 2017-2024)	$	735,000		$	—		$	—
March 2013 U.S. term loan averaging 3.25% (due 2013-2020)	—			602,850			602,850
Notes
April 2017 U.S. fixed rate notes at 5.375% (due 2027)	500,000			—			—
June 2014 U.S. fixed rate notes at 5.375% (due 2024)	450,000			450,000			450,000
March 2013 U.S. fixed rate notes at 5.25% (due 2021)	—			500,000			500,000
	1,685,000			1,552,850			1,552,850
Less current portion	—			(2,775		)	(1,200		)
	1,685,000			1,550,075			1,551,650
Less debt issuance costs	(25,374		)	(15,864		)	(16,979		)
	$	1,659,626		$	1,534,211		$	1,534,671

(1) The average interest rate is calculated over the life of the instrument and does not reflect the effect of interest rate swap agreements (see Note 6)

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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 24, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments in Condensed Consolidated Balance Sheet

The fair market value of the Partnership's swap portfolio was recorded within "Derivative Liability" on the unaudited condensed consolidated balance sheets as of September 24, 2017, December 31, 2016, and September 25, 2016 as follows:

(In thousands)	September 24, 2017			December 31, 2016			September 25, 2016
Derivatives not designated as hedging instruments:
Interest rate swaps	$	(14,849	)	$	(17,721	)	$	(30,185	)

Effects of derivative instruments on income (loss) and other comprehensive income (loss)

The following table summarizes the effect of derivative instruments on income and other comprehensive income for the nine months ended September 24, 2017 and September 25, 2016:

(In thousands)	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)					Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)						Amount and Location of Gain (Loss) Recognized in Income on Derivatives
Designated Derivatives	Nine months ended 9/24/2017		Nine months ended 9/25/2016			Designated Derivatives	Nine months ended 9/24/2017		Nine months ended 9/25/2016			Derivatives Not Designated	Nine months ended 9/24/2017		Nine months ended 9/25/2016
Interest rate swaps	$	—	$	(4,671	)	Interest Expense	$	—	$	(851	)	Net effect of swaps	$	3,378	$	(2,596	)

The following table summarizes the effect of derivative instruments on income and other comprehensive income for the three months ended September 24, 2017 and September 25, 2016:

(In thousands)	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)				Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)					Amount and Location of Gain (Loss) Recognized in Income on Derivatives
Designated Derivatives	Three months ended 9/24/2017		Three months ended 9/25/2016		Designated Derivatives	Three months ended 9/24/2017		Three months ended 9/25/2016		Derivatives Not Designated	Three months ended 9/24/2017		Three months ended 9/25/2016
Interest rate swaps	$	—	$	—	Interest Expense	$	—	$	—	Net effect of swaps	$	3,318	$	715

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 24, 2017

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on recurring basis

The table below presents the balances of assets and liabilities measured at fair value as of September 24, 2017, December 31, 2016, and September 25, 2016 on a recurring basis as well as the fair values of other financial instruments:

(In thousands)	Unaudited Condensed  Consolidated Balance Sheet Location	Fair Value Hierarchy Level	September 24, 2017						December 31, 2016						September 25, 2016
			Carrying Value			Fair  Value			Carrying Value			Fair  Value			Carrying Value			Fair  Value
Financial assets (liabilities) measured on a recurring basis:
Short-term investments	Other current assets	Level 1	$	688		$	688		—			—			—			—
Interest rate swap agreements not designated as cash flow hedges	Derivative Liability	Level 2	$	(14,849	)	$	(14,849	)	$	(17,721	)	$	(17,721	)	$	(30,185	)	$	(30,185	)
Other financial assets (liabilities):
March 2013 term debt	Long-Term Debt (1)	Level 2	—			—			$	(600,075	)	$	(603,075	)	$	(601,650	)	$	(603,154	)
April 2017 term debt	Long-Term Debt (1)	Level 2	$	(735,000	)	$	(740,513	)	—			—			—			—
March 2013 notes	Long-Term Debt (1)	Level 1	—			—			$	(500,000	)	$	(510,000	)	$	(500,000	)	$	(520,000	)
June 2014 notes	Long-Term Debt (1)	Level 1	$	(450,000	)	$	(472,500	)	$	(450,000	)	$	(462,375	)	$	(450,000	)	$	(477,000	)
April 2017 notes	Long-Term Debt (1)	Level 2	$	(500,000	)	$	(527,500	)	—			—			—			—

(1) Carrying values of long-term debt balances are before reductions for debt issuance costs of $25.4 million, $15.9 million, and $17.0 million as of September 24, 2017, December 31, 2016, and September 25, 2016, respectively.

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Earnings per Unit (Tables)

9 Months Ended

Sep. 24, 2017

Earnings Per Unit [Abstract]

Net income (loss) per limited partner unit

Net income per limited partner unit is calculated based on the following unit amounts:

	Three months ended				Nine months ended
	9/24/2017		9/25/2016		9/24/2017		9/25/2016
	(In thousands, except per unit amounts)
Basic weighted average units outstanding	56,078		55,948		56,062		55,922
Effect of dilutive units:
Deferred units	44		33		41		30
Performance units	—		—		48		43
Restricted units	284		253		292		266
Unit options	185		131		188		131
Diluted weighted average units outstanding	56,591		56,365		56,631		56,392
Net income per unit - basic	$	3.41	$	3.13	$	2.82	$	3.30
Net income per unit - diluted	$	3.38	$	3.10	$	2.79	$	3.27

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Changes in Accumulated Other Comprehensive Income by Component (Tables)

9 Months Ended

Sep. 24, 2017

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income related to limited partners' equity for the nine months ended September 24, 2017 and September 25, 2016:

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at December 31, 2016	$	(15,950	)	$	18,891		$	2,941
Other comprehensive income before reclassifications	—			(13,085		)	(13,085		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($1,113) (2)	5,981			—			5,981
Net other comprehensive income	5,981			(13,085		)	(7,104		)
Balance at September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at December 31, 2015	$	(19,300	)	$	22,591		$	3,291
Other comprehensive income before reclassifications, net of tax $711 and $3,131, respectively	(3,960		)	(5,447		)	(9,407		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($990) (2)	5,316			—			5,316
Net other comprehensive income	1,356			(5,447		)	(4,091		)
Balance at September 25, 2016	$	(17,944	)	$	17,144		$	(800	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

The following tables reflect the changes in accumulated other comprehensive income related to limited partners' equity for the three months ended September 24, 2017 and September 25, 2016:

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance at June 25, 2017	$	(11,963	)	$	16,949		$	4,986
Other comprehensive income before reclassifications	—			(11,143		)	(11,143		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($371) (2)	1,994			—			1,994
Net other comprehensive income	1,994			(11,143		)	(9,149		)
Balance at September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Changes in Accumulated Other Comprehensive Income by Component (1)
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation		Total
Balance at June 26, 2016	$	(19,938	)	$	15,747	$	(4,191	)
Other comprehensive income before reclassifications, net of tax ($803)	—			1,397		1,397
Amounts reclassified from accumulated other comprehensive income, net of tax ($371) (2)	1,994			—		1,994
Net other comprehensive income	1,994			1,397		3,391
Balance at September 25, 2016	$	(17,944	)	$	17,144	$	(800	)

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See Reclassifications Out of Accumulated Other Comprehensive Income table below for reclassification details.

Reclassification out of accumulated other comprehensive income

Reclassifications Out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement Where Net Income is Presented
(In thousands)	Three months ended 9/24/2017			Three months ended 9/25/2016
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(371		)	(371		)	Provision for taxes
Losses on cash flow hedges	$	1,994		$	1,994		Net of tax

Reclassifications Out of Accumulated Other Comprehensive Income
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement Where Net Income is Presented
(In thousands)	Nine months ended 9/24/2017			Nine months ended 9/25/2016
Interest rate contracts	$	7,094		$	6,306		Net effect of swaps
Provision for taxes	(1,113		)	(990		)	Provision for taxes
Losses on cash flow hedges	$	5,981		$	5,316		Net of tax

XML

Consolidating Financial Information of Guarantors and Issuers (Tables)

9 Months Ended

Sep. 24, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	92,047	$	160,593	$	(2,694	)	$	249,946
Receivables	—		1,285		33,158		837,594		(819,734		)	52,303
Inventories	—		—		2,423		31,817		—			34,240
Other current assets	275		12,843		743		16,829		(12,066		)	18,624
	275		14,128		128,371		1,046,833		(834,494		)	355,113
Property and Equipment, net	—		842		183,205		1,396,463		—			1,580,510
Investment in Park	566,548		1,016,857		224,464		222,953		(2,030,822		)	—
Goodwill	674		—		64,730		119,606		—			185,010
Other Intangibles, net	—		—		14,443		24,089		—			38,532
Deferred Tax Asset	—		32,190		—		—		(32,190		)	—
Other Assets	—		—		53		17,354		—			17,407
	$	567,497	$	1,064,017	$	615,266	$	2,827,298	$	(2,897,506	)	$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	478,416	$	345,150	$	6,431	$	26,141	$	(822,428	)	$	33,710
Deferred revenue	—		—		7,137		79,595		—			86,732
Accrued interest	292		195		9,209		14,232		—			23,928
Accrued taxes	1,589		—		14,910		74,224		(12,066		)	78,657
Accrued salaries, wages and benefits	—		28,306		2,360		—		—			30,666
Self-insurance reserves	—		12,090		1,725		13,734		—			27,549
Other accrued liabilities	2,985		7,772		499		9,306		—			20,562
	483,282		393,513		42,271		217,232		(834,494		)	301,804
Deferred Tax Liability	—		—		19,511		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—			14,849
Other Liabilities	—		1,398		—		10,942		—			12,340
Long-Term Debt:
Term debt	—		127,402		—		595,983		—			723,385
Notes	—		—		444,874		491,367		—			936,241
	—		127,402		444,874		1,087,350		—			1,659,626
Equity	75,282		535,788		108,610		1,386,424		(2,030,822		)	75,282
	$	567,497	$	1,064,017	$	615,266	$	2,827,298	$	(2,897,506	)	$	2,176,572

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	65,563	$	58,178	$	(1,025	)	$	122,716
Receivables	—		1,409		28,019		576,975		(570,989		)	35,414
Inventories	—		—		1,371		24,905		—			26,276
Other current assets	173		796		2,229		9,833		(1,761		)	11,270
	173		2,205		97,182		669,891		(573,775		)	195,676
Property and Equipment, net	—		844		175,358		1,363,018		—			1,539,220
Investment in Park	798,076		937,626		200,075		324,282		(2,260,059		)	—
Goodwill	674		—		59,381		119,605		—			179,660
Other Intangibles, net	—		—		13,255		24,582		—			37,837
Deferred Tax Asset	—		33,303		—		—		(33,303		)	—
Other Assets	—		2,000		108		18,680		—			20,788
	$	798,923	$	975,978	$	545,359	$	2,520,058	$	(2,867,137	)	$	1,973,181
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	572	$	64	$	2,139	$	—		2,775
Accounts payable	428,396		145,258		740		18,471		(572,014		)	20,851
Deferred revenue	—		—		5,601		77,164		—			82,765
Accrued interest	4,613		3,207		2,057		109		—			9,986
Accrued taxes	405		18,653		—		41,661		(1,761		)	58,958
Accrued salaries, wages and benefits	—		29,227		1,131		—		—			30,358
Self-insurance reserves	—		12,490		1,321		13,252					27,063
Other accrued liabilities	2,282		3,018		193		4,434		—			9,927
	435,696		212,425		11,107		157,230		(573,775		)	242,683
Deferred Tax Liability	—		—		12,838		125,350		(33,303		)	104,885
Derivative Liability	10,633		7,088		—		—		—			17,721
Other Liabilities	—		1,236		—		11,926		—			13,162
Long-Term Debt:
Term debt	—		123,672		13,598		456,958		—			594,228
Notes	292,075		203,140		444,768		—		—			939,983
	292,075		326,812		458,366		456,958		—			1,534,211
Equity	60,519		428,417		63,048		1,768,594		(2,260,059		)	60,519
	$	798,923	$	975,978	$	545,359	$	2,520,058	$	(2,867,137	)	$	1,973,181

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	—	$	75,562	$	111,740	$	—		$	187,302
Receivables	(5		)	1,387		24,964		585,190		(560,000		)	51,536
Inventories	—			—		1,519		29,540		—			31,059
Other current assets	275			24,479		680		12,800		(24,425		)	13,809
	270			25,866		102,725		739,270		(584,425		)	283,706
Property and Equipment, net	—			876		179,172		1,345,992		—			1,526,040
Investment in Park	820,465			963,870		197,538		347,137		(2,329,010		)	—
Goodwill	674			—		95,180		119,606		—			215,460
Other Intangibles, net	—			—		13,519		22,911		—			36,430
Deferred Tax Asset	—			3,651		—		—		(3,651		)	—
Other Assets	—			1,999		123		19,351		—			21,473
	$	821,409		$	996,262	$	588,257	$	2,594,267	$	(2,917,086	)	$	2,083,109
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	247	$	28	$	925	$	—		$	1,200
Accounts payable	399,384			164,335		1,342		27,830		(560,000		)	32,891
Deferred revenue	—			—		5,091		60,657		—			65,748
Accrued interest	875			597		7,784		1,683		—			10,939
Accrued taxes	3,325			—		14,109		76,907		(24,425		)	69,916
Accrued salaries, wages and benefits	—			40,588		2,156		—		—			42,744
Self-insurance reserves	—			12,394		1,567		12,859		—			26,820
Other accrued liabilities	2,358			3,532		510		5,948		—			12,348
	405,942			221,693		32,587		186,809		(584,425		)	262,606
Deferred Tax Liability	—			—		19,497		121,866		(3,651		)	137,712
Derivative Liability	18,111			12,074		—		—		—			30,185
Other Liabilities	—			1,520		—		10,968		—			12,488
Long-Term Debt:
Term debt	—			123,996		13,616		457,641		—			595,253
Notes	291,909			203,025		444,484		—		—			939,418
	291,909			327,021		458,100		457,641		—			1,534,671
Equity	105,447			433,954		78,073		1,816,983		(2,329,010		)	105,447
	$	821,409		$	996,262	$	588,257	$	2,594,267	$	(2,917,086	)	$	2,083,109

Condensed Consolidating Statement of Operations and Other Comprehensive Income (Loss)

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	69,999		$	169,429		$	85,963		$	596,837		$	(269,539	)	$	652,689
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			7,735			44,912			—			52,647
Operating expenses	—			118,614			19,627			334,008			(269,539		)	202,710
Selling, general and administrative	327			21,752			4,539			45,045			—			71,663
Depreciation and amortization	—			9			7,856			62,195			—			70,060
Loss on impairment / retirement of fixed assets, net	—			—			87			1,260			—			1,347
Gain on sale of investment	—			(1,877		)	—			—			—			(1,877		)
	327			138,498			39,844			487,420			(269,539		)	396,550
Operating income	69,672			30,931			46,119			109,417			—			256,139
Interest expense, net	4,857			4,305			6,152			5,973			—			21,287
Net effect of swaps	(578		)	(374		)	—			—			—			(952		)
Gain on foreign currency	—			(27		)	(29,166		)	—			—			(29,193		)
Other (income) expense	62			(26,676		)	1,163			25,386			—			(65		)
Income from investment in affiliates	(132,699		)	(98,522		)	(16,843		)	(58,378		)	306,442			—
Income before taxes	198,030			152,225			84,813			136,436			(306,442		)	265,062
Provision for taxes	6,715			19,526			26,432			21,074			—			73,747
Net income	$	191,315		$	132,699		$	58,381		$	115,362		$	(306,442	)	$	191,315
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143		)	—			(11,143		)	—			11,143			(11,143		)
Unrealized gain on cash flow hedging derivatives	1,994			605			—			—			(605		)	1,994
Other comprehensive income (loss), (net of tax)	(9,149		)	605			(11,143		)	—			10,538			(9,149		)
Total comprehensive income	$	182,166		$	133,304		$	47,238		$	115,362		$	(295,904	)	$	182,166

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,371		$	172,703		$	77,164		$	606,823		$	(298,778	)	$	650,283
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			6,417			45,640			—			52,057
Operating expenses	(10		)	119,140			17,885			361,055			(298,778		)	199,292
Selling, general and administrative	610			21,412			4,413			38,664			—			65,099
Depreciation and amortization	—			9			7,624			57,052			—			64,685
Loss on impairment / retirement of fixed assets, net	—			—			57			1,298			—			1,355
	600			140,561			36,396			503,709			(298,778		)	382,488
Operating income	91,771			32,142			40,768			103,114			—			267,795
Interest expense, net	7,984			5,759			6,323			833			—			20,899
Net effect of swaps	959			691			—			—			—			1,650
Loss on foreign currency	—			—			7,337			4			—			7,341
Other (income) expense	62			(29,663		)	1,302			28,299			—			—
Income from investment in affiliates	(98,451		)	(62,240		)	(12,574		)	(28,737		)	202,002			—
Income before taxes	181,217			117,595			38,380			102,715			(202,002		)	237,905
Provision for taxes	6,230			19,142			9,643			27,903			—			62,918
Net income	$	174,987		$	98,453		$	28,737		$	74,812		$	(202,002	)	$	174,987
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	1,397			—			1,397			—			(1,397		)	1,397
Unrealized gain on cash flow hedging derivatives	1,994			606			—			—			(606		)	1,994
Other comprehensive income (loss), (net of tax)	3,391			606			1,397			—			(2,003		)	3,391
Total comprehensive income	$	178,378		$	99,059		$	30,134		$	74,812		$	(204,005	)	$	178,378

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,672		$	262,739		$	114,141		$	1,019,399		$	(395,146	)	$	1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			10,569			81,807			—			92,376
Operating expenses	—			248,047			37,701			556,777			(395,146		)	447,379
Selling, general and administrative	2,254			51,358			8,592			88,938			—			151,142
Depreciation and amortization	—			26			12,869			113,342			—			126,237
Loss on impairment / retirement of fixed assets, net	—			—			542			2,515			—			3,057
Gain on sale of investment	—			(1,877		)	—			—			—			(1,877		)
	2,254			297,554			70,273			843,379			(395,146		)	818,314
Operating income (loss)	90,418			(34,815		)	43,868			176,020			—			275,491
Interest expense, net	18,285			13,893			18,317			11,578			—			62,073
Net effect of swaps	2,162			1,555			—			—			—			3,717
Loss on early debt extinguishment	11,773			8,188			198			2,956			—			23,115
Gain on foreign currency	—			(27		)	(35,020		)	—			—			(35,047		)
Other (income) expense	187			(56,623		)	2,640			53,731			—			(65		)
Income from investment in affiliates	(108,835		)	(109,414		)	(24,389		)	(58,648		)	301,286			—
Income before taxes	166,846			107,613			82,122			166,403			(301,286		)	221,698
Provision (benefit) for taxes	8,917			(1,223		)	23,473			32,602			—			63,769
Net income	$	157,929		$	108,836		$	58,649		$	133,801		$	(301,286	)	$	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(13,085		)	—			(13,085		)	—			13,085			(13,085		)
Unrealized gain on cash flow hedging derivatives	5,981			1,816			—			—			(1,816		)	5,981
Other comprehensive income (loss), (net of tax)	(7,104		)	1,816			(13,085		)	—			11,269			(7,104		)
Total comprehensive income	$	150,825		$	110,652		$	45,564		$	133,801		$	(290,017	)	$	150,825

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	131,215		$	271,069		$	107,637		$	1,036,162		$	(449,328	)	$	1,096,755
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			9,389			83,471			—			92,860
Operating expenses	2			246,624			36,249			607,874			(449,328		)	441,421
Selling, general and administrative	2,264			49,307			8,757			81,754			—			142,082
Depreciation and amortization	—			27			13,022			105,126			—			118,175
Loss on impairment / retirement of fixed assets, net	—			—			83			5,299			—			5,382
	2,266			295,958			67,500			883,524			(449,328		)	799,920
Operating income (loss)	128,949			(24,889		)	40,137			152,638			—			296,835
Interest expense, net	23,776			17,830			18,672			1,507			—			61,785
Net effect of swaps	5,617			3,285			—			—			—			8,902
(Gain) loss on foreign currency	—			—			(23,679		)	4			—			(23,675		)
Other (income) expense	187			(69,801		)	3,051			66,563			—			—
Income from investment in affiliates	(94,910		)	(78,515		)	(18,008		)	(44,399		)	235,832			—
Income before taxes	194,279			102,312			60,101			128,963			(235,832		)	249,823
Provision for taxes	9,795			7,403			15,701			32,440			—			65,339
Net income	$	184,484		$	94,909		$	44,400		$	96,523		$	(235,832	)	$	184,484
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,447		)	—			(5,447		)	—			5,447			(5,447		)
Unrealized gain on cash flow hedging derivatives	1,356			455			—			—			(455		)	1,356
Other comprehensive income (loss), (net of tax)	(4,091		)	455			(5,447		)	—			4,992			(4,091		)
Total comprehensive income	$	180,393		$	95,364		$	38,953		$	96,523		$	(230,840	)	$	180,393

Condensed Consolidating Statement of Cash Flows

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 24, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	61,966		$	(3,954	)	$	40,125		$	227,588		$	(3,107	)	$	322,618
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(248,190		)	248,190			—
Proceeds from returns on investments	338,000			15,500			—			146,500			(500,000		)	—
Proceeds from sale of investment	—			3,281			—			—			—			3,281
Purchase of identifiable intangible assets	—			—			—			(66		)	—			(66		)
Capital expenditures	—			(25		)	(5,679		)	(146,669		)	—			(152,373		)
Net cash from (for) investing activities	338,000			18,756			(5,679		)	(248,425		)	(251,810		)	(149,158		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	50,003			198,187			—			—			(248,190		)	—
Payments for returns of capital	—			—			—			(500,000		)	500,000			—
Term debt borrowings	—			131,000			—			619,000			—			750,000
Note borrowings	—			—			—			500,000			—			500,000
Term debt payments	—			(126,619		)	(13,854		)	(477,377		)	—			(617,850		)
Note payments, including amounts paid for early termination	(304,014		)	(211,444		)	—			—			—			(515,458		)
Distributions paid to partners	(145,955		)	—			—			—			1,438			(144,517		)
Payment of debt issuance costs	—			(1,313		)	—			(18,371		)	—			(19,684		)
Tax effect of units involved in treasury unit transactions	—			(2,560		)	—			—			—			(2,560		)
Payments related to tax withholding for equity compensation	—			(2,053		)	—			—			—			(2,053		)
Net cash from (for) financing activities	(399,966		)	(14,802		)	(13,854		)	123,252			253,248			(52,122		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			5,892			—			—			5,892
CASH AND CASH EQUIVALENTS
Net increase for the period	—			—			26,484			102,415			(1,669		)	127,230
Balance, beginning of period	—			—			65,563			58,178			(1,025		)	122,716
Balance, end of period	$	—		$	—		$	92,047		$	160,593		$	(2,694	)	$	249,946

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 25, 2016

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	99,232		$	(54,042	)	$	41,273		$	256,105		$	(1,866	)	$	340,702
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(22,771		)	22,771			—
Capital expenditures	—			—			(6,451		)	(120,413		)	—			(126,864		)
Net cash for investing activities	—			—			(6,451		)	(143,184		)	22,771			(126,864		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Term debt payments	—			(1,237		)	(138		)	(4,625		)	—			(6,000		)
Distributions paid to partners	(140,908		)	—			—			—			1,866			(139,042		)
Intercompany payables (payments) receipts	(35,331		)	58,102			—			—			(22,771		)	—
Tax effect of units involved in treasury unit transactions	—			(1,903		)	—			—			—			(1,903		)
Payments related to tax withholding for equity compensation	—			(920		)	—			—			—			(920		)
Net cash from (for) financing activities	(176,239		)	54,042			(138		)	(4,625		)	(20,905		)	(147,865		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			1,772			—			—			1,772
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(77,007		)	—			36,456			108,296			—			67,745
Balance, beginning of period	77,007			—			39,106			3,444			—			119,557
Balance, end of period	$	—		$	—		$	75,562		$	111,740		$	—		$	187,302

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Significant Accounting and Reporting Policies (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit amount		$ 700
Net cash from financing activities		(52,122)	$ (147,865)
Net cash for operating activities		$ (322,618)	(340,702)
Accounting Standards Update 2016-09, Statutory Tax Withholding Component [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash from financing activities			$ 900
Net cash for operating activities	$ 900

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Interim Reporting (Details)	9 Months Ended
	Sep. 24, 2017 property
Nature of Operations [Line Items]
Number of amusement parks owned and operated	11
Number of outdoor water parks owned and operated	2
Number of indoor water parks owned and operated	1
Number of hotels owned and operated	5
Winterfest parks	4
Minimum [Member]
Nature of Operations [Line Items]
Operating period	130 days
Operating cycle, WinterFest	20 days
Maximum [Member]
Nature of Operations [Line Items]
Operating period	140 days
Operating cycle, WinterFest	25 days

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Long-Lived Assets - Wildwater Kingdom Held for Sale (Details)	3 Months Ended
	Sep. 25, 2016 USD ($) property	Sep. 24, 2017 USD ($) a
Property, Plant and Equipment [Line Items]
Closed operations, properties | property	1
Area of land | a		670
Other Assets [Member]
Property, Plant and Equipment [Line Items]
Land Available-for-sale	$ 17,100,000
Impairment of real estate	$ 0
Assets held-for-sale		$ 16,500,000

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Goodwill and Other Intangible Assets Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill (gross), beginning of period	$ 259,528	$ 290,679	$ 290,679
Accumulated Impairment Losses, beginning of period	(79,868)	(79,868)	(79,868)
Goodwill (net), beginning of period	179,660	210,811	210,811
Foreign currency translation	5,350	4,649
Goodwill (gross), end of period	264,878	295,328	259,528
Accumulated Impairment Losses, ending of period	(79,868)	(79,868)	(79,868)
Goodwill (net), end of period	$ 185,010	$ 215,460	179,660
Adjustment to reduce goodwill and deferred tax liabilities			$ 33,900

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Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Carrying Amount/Value	$ 36,794	$ 35,603	$ 35,866
Accumulated Amortization	(1,623)	(1,092)	(911)
Total other intangible assets, gross carrying amount	40,155	38,929	37,341
Total other intangibe assets, net carrying value	38,532	37,837	36,430
License / Franchise Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	3,361	3,326	1,475
Accumulated Amortization	(1,623)	(1,092)	(911)
Net Carrying Value	$ 1,738	$ 2,234	$ 564

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Long-Term Debt Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,685,000	$ 1,552,850	$ 1,552,850
Current maturities of long-term debt	0	(2,775)	(1,200)
Long-term debt, excluding current maturities, gross	1,685,000	1,550,075	1,551,650
Deferred finance costs	(25,374)	(15,864)	(16,979)
Total long-term debt	$ 1,659,626	1,534,211	1,534,671
April 2017 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Long-term debt, gross	$ 500,000	0	0
5.375% Note [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Long-term debt, gross	$ 450,000	450,000	450,000
5.25% Note [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.25%
Long-term debt, gross	$ 0	500,000	500,000
Senior Secured Term Loan [Member] | 2017 Credit Agreement [Member]
Debt Instrument [Line Items]
Interest rate during period	3.38%
Long-term debt, gross	$ 735,000	0	0
Senior Secured Term Loan [Member] | 2013 Credit Agreement [Member]
Debt Instrument [Line Items]
Interest rate during period	3.25%
Long-term debt, gross	$ 0	$ 602,850	$ 602,850

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Long-Term Debt Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 13, 2017	Apr. 30, 2017	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016	Jun. 30, 2014	Mar. 31, 2013
Debt Instrument [Line Items]
Loss on early debt extinguishment			$ 0	$ 0	$ (23,115,000)	$ 0
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Effective interest rate percentage	2.25%
Periodic principal payment	$ 7,500,000
April 2017 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage			5.375%		5.375%
April 2017 Notes [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 500,000,000
Interest rate, stated percentage	5.375%
Redemption price, percentage	35.00%
Early call date, premium price, percentage	105.375%
Redemption percentage of original face amount					100.00%
Notes Payable Due 2021 [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage								5.25%
2013 Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, face amount								$ 885,000,000
2013 Credit Agreement [Member] | Canadian Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 7,600,000
Amortization of debt issuance costs	15,500,000
2013 Credit Agreement [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount								630,000,000
2013 Credit Agreement [Member] | Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount								$ 255,000,000
2017 Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	1,025,000,000
Total indebtedness to consolidated cash flow ratio requirement					5.5
2017 Credit Agreement [Member] | Canadian Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15,000,000
2017 Credit Agreement [Member] | Canadian Revolving Credit Facility CAD and USD [Member]
Debt Instrument [Line Items]
Interest rate margin over LIBOR	2.00%
2017 Credit Agreement [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 750,000,000
2017 Credit Agreement [Member] | Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 275,000,000
Commitment fee percentage		0.375%
Notes Payable due 2024 [Member]
Debt Instrument [Line Items]
Total indebtedness to consolidated cash flow ratio requirement					5
Notes Payable due 2024 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Restricted payment					$ 60,000,000
Notes Payable due 2024 [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount							$ 450,000,000
Interest rate, stated percentage							5.375%
Redemption percentage of original face amount					100.00%

XML

Derivative Financial Instruments (Narrative) (Details) - 2013 forwards [Member] - Cash Flow Hedging [Member] - Forward-Starting Interest Rate Swap [Member] $ in Millions	3 Months Ended
	Mar. 27, 2016 USD ($) contract
Derivative [Line Items]
Number of derivative instruments | contract	4
Derivative, extension of maturity (in years)	2 years
Derivative, amount of hedged item | $	$ 500
Average rate	2.64%

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Derivative Financial Instruments Balance Sheet Location (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Derivatives, Fair Value [Line Items]
Derivative Liability	$ (14,849)	$ (17,721)	$ (30,185)
Interest Rate Swap [Member] | Not Designated As Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	$ (14,849)	$ (17,721)	$ (30,185)

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Derivative Financial Instruments Income Statement Location (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Derivative [Line Items]
Net effect of swaps	$ 952,000	$ (1,650,000)	$ (3,717,000)	$ (8,902,000)
Interest Rate Swap [Member]
Derivative [Line Items]
Amortization of deferred hedge gains	2,400,000	2,400,000	7,100,000	6,300,000
Cash Flow Hedging [Member] | Forward-Starting Interest Rate Swap [Member]
Derivative [Line Items]
Interest rate cash flow hedge gain (loss) to be reclassified	9,500,000		9,500,000
Accumulated other comprehensive income (loss) related to cash flow hedges	(11,800,000)		(11,800,000)
Designated As Hedging [Member]
Derivative [Line Items]
Interest rate cash flow hedge gain (loss) to be reclassified	0		0
Designated As Hedging [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)	0	0	0	(4,671,000)
Interest Expense [Member] | Designated As Hedging [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Amount and Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	0	0	0	(851,000)
Net Effect of Swaps [Member] | Designated As Hedging [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Amount and Location of Gain (Loss) Recognized in Income on Derivatives	$ 3,318,000	$ 715,000	$ 3,378,000	$ (2,596,000)

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Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred finance costs	$ 25,374	$ 15,864	$ 16,979
Derivative Liability [Member] | Not Designated As Hedging [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(14,849)	(17,721)	(30,185)
Reported Value Measurement [Member] | Derivative Liability [Member] | Not Designated As Hedging [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities), at fair value, net	(14,849)	(17,721)	(30,185)
Credit Agreement 2013 [Member] | Long-term Debt [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of term debt	0	(603,075)	(603,154)
Credit Agreement 2013 [Member] | Reported Value Measurement [Member] | Long-term Debt [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of term debt	0	(600,075)	(601,650)
2017 Credit Agreement [Member] | Long-term Debt [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of term debt	(740,513)	0	0
2017 Credit Agreement [Member] | Reported Value Measurement [Member] | Long-term Debt [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of term debt	(735,000)	0	0
Notes Payable Due 2021 [Member] | Long-term Debt [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	0	(510,000)	(520,000)
Notes Payable Due 2021 [Member] | Reported Value Measurement [Member] | Long-term Debt [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	0	(500,000)	(500,000)
Notes Payable due 2024 [Member] | Long-term Debt [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	(472,500)	(462,375)	(477,000)
Notes Payable due 2024 [Member] | Reported Value Measurement [Member] | Long-term Debt [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	(450,000)	(450,000)	(450,000)
April 2017 Notes [Member] | Long-term Debt [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	(527,500)	0	0
April 2017 Notes [Member] | Reported Value Measurement [Member] | Long-term Debt [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of notes	(500,000)	0	0
Short-term Investments [Member] | Other Current Assets [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	688	0	0
Short-term Investments [Member] | Reported Value Measurement [Member] | Other Current Assets [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value	$ 688	$ 0	$ 0

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Earnings per Unit (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Earnings Per Unit [Abstract]
Basic weighted average units outstanding (in shares)	56,078	55,948	56,062	55,922
Effect of dilutive units:
Deferred units (in shares)	44	33	41	30
Performance units (in shares)	0	0	48	43
Restricted units (in shares)	284	253	292	266
Unit options (in shares)	185	131	188	131
Diluted weighted average units outstanding (in shares)	56,591	56,365	56,631	56,392
Net income (loss) per limited partner unit - basic (in dollars per share)	$ 3.41	$ 3.13	$ 2.82	$ 3.30
Net income (loss) per limited partner unit - diluted (in dollars per share)	$ 3.38	$ 3.10	$ 2.79	$ 3.27

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Income and Partnership Taxes Unrecognized Tax Position (Details) $ in Millions	9 Months Ended
	Sep. 24, 2017 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefit	$ 0.7

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Changes in Accumulated Other Comprehensive Income by Component Changes in AOCI by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net current-period other comprehensive income	$ (9,149)	$ 3,391	$ (7,104)	$ (4,091)
Other comprehensive income before reclassification tax effect	0	0	0	711
Provision (benefit) for taxes	(73,747)	(62,918)	(63,769)	(65,339)
Foreign currency translation adjustment, tax		(803)	0	3,131
Gains and Losses on Cash Flow Hedges [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(11,963)	(19,938)	(15,950)	(19,300)
Other comprehensive income before reclassifications	0	0	0	(3,960)
Amounts reclassified from accumulated other comprehensive income	1,994	1,994	5,981	5,316
Net current-period other comprehensive income	1,994	1,994	5,981	1,356
Balance, ending	(9,969)	(17,944)	(9,969)	(17,944)
Foreign Currency Items [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	16,949	15,747	18,891	22,591
Other comprehensive income before reclassifications	(11,143)	1,397	(13,085)	(5,447)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Net current-period other comprehensive income	(11,143)	1,397	(13,085)	(5,447)
Balance, ending	5,806	17,144	5,806	17,144
AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	4,986	(4,191)	2,941	3,291
Other comprehensive income before reclassifications	(11,143)	1,397	(13,085)	(9,407)
Amounts reclassified from accumulated other comprehensive income	1,994	1,994	5,981	5,316
Net current-period other comprehensive income	(9,149)	3,391	(7,104)	(4,091)
Balance, ending	$ (4,163)	$ (800)	$ (4,163)	$ (800)

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Changes in Accumulated Other Comprehensive Income by Component Reclassifications Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net effect of swaps	$ 952	$ (1,650)	$ (3,717)	$ (8,902)
Provision (benefit) for taxes	(73,747)	(62,918)	(63,769)	(65,339)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Provision (benefit) for taxes	(371)	(371)	(1,113)	(990)
Net income (loss)	1,994	1,994	5,981	5,316
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Provision (benefit) for taxes	(371)	(371)	(1,113)	(990)
Interest Rate Contracts [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net effect of swaps	$ 2,365	$ 2,365	$ 7,094	$ 6,306

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Consolidating Financial Information of Guarantors and Issuers (Details)	Sep. 24, 2017
Senior Unsecured Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Subsidiary Ownership Percentage Guaranteering Notes	100.00%

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Consolidating Financial Information of Guarantors and Issuers Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 24, 2017	Dec. 31, 2016	Sep. 25, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 249,946	$ 122,716	$ 187,302	$ 119,557
Receivables	52,303	35,414	51,536
Inventories	34,240	26,276	31,059
Other current assets	18,624	11,270	13,809
Total current assets	355,113	195,676	283,706
Property and Equipment, net	1,580,510	1,539,220	1,526,040
Investment in Park	0	0	0
Goodwill	185,010	179,660	215,460	210,811
Other Intangibles, net	38,532	37,837	36,430
Deferred Tax Asset	0	0	0
Other Assets	17,407	20,788	21,473
Total Assets	2,176,572	1,973,181	2,083,109
Current Liabilities:
Current maturities of long-term debt	0	2,775	1,200
Accounts payable	33,710	20,851	32,891
Deferred revenue	86,732	82,765	65,748
Accrued interest	23,928	9,986	10,939
Accrued taxes	78,657	58,958	69,916
Accrued salaries, wages and benefits	30,666	30,358	42,744
Self-insurance reserves	27,549	27,063	26,820
Other accrued liabilities	20,562	9,927	12,348
Total current liabilities	301,804	242,683	262,606
Deferred Tax Liability	112,671	104,885	137,712
Derivative Liability	14,849	17,721	30,185
Other Liabilities	12,340	13,162	12,488
Long-Term Debt:
Term debt	723,385	594,228	595,253
Notes	936,241	939,983	939,418
Total long-term debt	1,659,626	1,534,211	1,534,671
Total partners' equity	75,282	60,519	105,447
Total Liabilities and Partners' Equity	2,176,572	1,973,181	2,083,109
Cedar Fair L.P. (Parent) [Member]
Current Assets:
Cash and cash equivalents	0	0	0	77,007
Receivables	0	0	(5)
Inventories	0	0	0
Other current assets	275	173	275
Total current assets	275	173	270
Property and Equipment, net	0	0	0
Investment in Park	566,548	798,076	820,465
Goodwill	674	674	674
Other Intangibles, net	0	0	0
Deferred Tax Asset	0	0	0
Other Assets	0	0	0
Total Assets	567,497	798,923	821,409
Current Liabilities:
Current maturities of long-term debt		0	0
Accounts payable	478,416	428,396	399,384
Deferred revenue	0	0	0
Accrued interest	292	4,613	875
Accrued taxes	1,589	405	3,325
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0	0	0
Other accrued liabilities	2,985	2,282	2,358
Total current liabilities	483,282	435,696	405,942
Deferred Tax Liability	0	0	0
Derivative Liability	8,933	10,633	18,111
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	0	0	0
Notes	0	292,075	291,909
Total long-term debt	0	292,075	291,909
Total partners' equity	75,282	60,519	105,447
Total Liabilities and Partners' Equity	567,497	798,923	821,409
Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]
Current Assets:
Cash and cash equivalents	0	0	0	0
Receivables	1,285	1,409	1,387
Inventories	0	0	0
Other current assets	12,843	796	24,479
Total current assets	14,128	2,205	25,866
Property and Equipment, net	842	844	876
Investment in Park	1,016,857	937,626	963,870
Goodwill	0	0	0
Other Intangibles, net	0	0	0
Deferred Tax Asset	32,190	33,303	3,651
Other Assets	0	2,000	1,999
Total Assets	1,064,017	975,978	996,262
Current Liabilities:
Current maturities of long-term debt		572	247
Accounts payable	345,150	145,258	164,335
Deferred revenue	0	0	0
Accrued interest	195	3,207	597
Accrued taxes	0	18,653	0
Accrued salaries, wages and benefits	28,306	29,227	40,588
Self-insurance reserves	12,090	12,490	12,394
Other accrued liabilities	7,772	3,018	3,532
Total current liabilities	393,513	212,425	221,693
Deferred Tax Liability	0	0	0
Derivative Liability	5,916	7,088	12,074
Other Liabilities	1,398	1,236	1,520
Long-Term Debt:
Term debt	127,402	123,672	123,996
Notes	0	203,140	203,025
Total long-term debt	127,402	326,812	327,021
Total partners' equity	535,788	428,417	433,954
Total Liabilities and Partners' Equity	1,064,017	975,978	996,262
Co-Issuer Subsidiary (Cedar Canada) [Member]
Current Assets:
Cash and cash equivalents	92,047	65,563	75,562	39,106
Receivables	33,158	28,019	24,964
Inventories	2,423	1,371	1,519
Other current assets	743	2,229	680
Total current assets	128,371	97,182	102,725
Property and Equipment, net	183,205	175,358	179,172
Investment in Park	224,464	200,075	197,538
Goodwill	64,730	59,381	95,180
Other Intangibles, net	14,443	13,255	13,519
Deferred Tax Asset	0	0	0
Other Assets	53	108	123
Total Assets	615,266	545,359	588,257
Current Liabilities:
Current maturities of long-term debt		64	28
Accounts payable	6,431	740	1,342
Deferred revenue	7,137	5,601	5,091
Accrued interest	9,209	2,057	7,784
Accrued taxes	14,910	0	14,109
Accrued salaries, wages and benefits	2,360	1,131	2,156
Self-insurance reserves	1,725	1,321	1,567
Other accrued liabilities	499	193	510
Total current liabilities	42,271	11,107	32,587
Deferred Tax Liability	19,511	12,838	19,497
Derivative Liability	0	0	0
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	0	13,598	13,616
Notes	444,874	444,768	444,484
Total long-term debt	444,874	458,366	458,100
Total partners' equity	108,610	63,048	78,073
Total Liabilities and Partners' Equity	615,266	545,359	588,257
Guarantor Subsidiaries [Member]
Current Assets:
Cash and cash equivalents	160,593	58,178	111,740	3,444
Receivables	837,594	576,975	585,190
Inventories	31,817	24,905	29,540
Other current assets	16,829	9,833	12,800
Total current assets	1,046,833	669,891	739,270
Property and Equipment, net	1,396,463	1,363,018	1,345,992
Investment in Park	222,953	324,282	347,137
Goodwill	119,606	119,605	119,606
Other Intangibles, net	24,089	24,582	22,911
Deferred Tax Asset	0	0	0
Other Assets	17,354	18,680	19,351
Total Assets	2,827,298	2,520,058	2,594,267
Current Liabilities:
Current maturities of long-term debt		2,139	925
Accounts payable	26,141	18,471	27,830
Deferred revenue	79,595	77,164	60,657
Accrued interest	14,232	109	1,683
Accrued taxes	74,224	41,661	76,907
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	13,734	13,252	12,859
Other accrued liabilities	9,306	4,434	5,948
Total current liabilities	217,232	157,230	186,809
Deferred Tax Liability	125,350	125,350	121,866
Derivative Liability	0	0	0
Other Liabilities	10,942	11,926	10,968
Long-Term Debt:
Term debt	595,983	456,958	457,641
Notes	491,367	0	0
Total long-term debt	1,087,350	456,958	457,641
Total partners' equity	1,386,424	1,768,594	1,816,983
Total Liabilities and Partners' Equity	2,827,298	2,520,058	2,594,267
Consolidation, Eliminations [Member]
Current Assets:
Cash and cash equivalents	(2,694)	(1,025)	0	$ 0
Receivables	(819,734)	(570,989)	(560,000)
Inventories	0	0	0
Other current assets	(12,066)	(1,761)	(24,425)
Total current assets	(834,494)	(573,775)	(584,425)
Property and Equipment, net	0	0	0
Investment in Park	(2,030,822)	(2,260,059)	(2,329,010)
Goodwill	0	0	0
Other Intangibles, net	0	0	0
Deferred Tax Asset	(32,190)	(33,303)	(3,651)
Other Assets	0	0	0
Total Assets	(2,897,506)	(2,867,137)	(2,917,086)
Current Liabilities:
Current maturities of long-term debt		0	0
Accounts payable	(822,428)	(572,014)	(560,000)
Deferred revenue	0	0	0
Accrued interest	0	0	0
Accrued taxes	(12,066)	(1,761)	(24,425)
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0		0
Other accrued liabilities	0	0	0
Total current liabilities	(834,494)	(573,775)	(584,425)
Deferred Tax Liability	(32,190)	(33,303)	(3,651)
Derivative Liability	0	0	0
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	0	0	0
Notes	0	0	0
Total long-term debt	0	0	0
Total partners' equity	(2,030,822)	(2,260,059)	(2,329,010)
Total Liabilities and Partners' Equity	$ (2,897,506)	$ (2,867,137)	$ (2,917,086)

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Consolidating Financial Information of Guarantors and Issuers Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016	Sep. 24, 2017	Sep. 25, 2016
Condensed Financial Statements, Captions [Line Items]
Net revenues	$ 652,689	$ 650,283	$ 1,093,805	$ 1,096,755
Costs and expenses:
Cost of food, merchandise, and games revenues	52,647	52,057	92,376	92,860
Operating expenses	202,710	199,292	447,379	441,421
Selling, general and administrative	71,663	65,099	151,142	142,082
Depreciation and amortization	70,060	64,685	126,237	118,175
Loss on impairment / retirement of fixed assets, net	1,347	1,355	3,057	5,382
Gain on sale of investment	(1,877)	0	(1,877)	0
Total costs and expenses	396,550	382,488	818,314	799,920
Operating income	256,139	267,795	275,491	296,835
Interest expense, net	21,287	20,899	62,073	61,785
Net effect of swaps	(952)	1,650	3,717	8,902
Loss on early debt extinguishment	0	0	23,115	0
Unrealized / realized foreign currency (gain) loss	(29,193)	7,341	(35,047)	(23,675)
Other (income) expense	(65)	0	(65)	0
Income from investment in affiliates	0	0	0	0
Income before taxes	265,062	237,905	221,698	249,823
Provision for taxes	73,747	62,918	63,769	65,339
Net income	191,315	174,987	157,929	184,484
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143)	1,397	(13,085)	(5,447)
Unrealized gain on cash flow hedging derivatives	1,994	1,994	5,981	1,356
Other comprehensive income (loss), (net of tax)	(9,149)	3,391	(7,104)	(4,091)
Total comprehensive income	182,166	178,378	150,825	180,393
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	(269,539)	(298,778)	(395,146)	(449,328)
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	(269,539)	(298,778)	(395,146)	(449,328)
Selling, general and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Loss on impairment / retirement of fixed assets, net	0	0	0	0
Gain on sale of investment	0		0
Total costs and expenses	(269,539)	(298,778)	(395,146)	(449,328)
Operating income	0	0	0	0
Interest expense, net	0	0	0	0
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			0
Unrealized / realized foreign currency (gain) loss	0	0	0	0
Other (income) expense	0	0	0	0
Income from investment in affiliates	306,442	202,002	301,286	235,832
Income before taxes	(306,442)	(202,002)	(301,286)	(235,832)
Provision for taxes	0	0	0	0
Net income	(306,442)	(202,002)	(301,286)	(235,832)
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	11,143	(1,397)	13,085	5,447
Unrealized gain on cash flow hedging derivatives	(605)	(606)	(1,816)	(455)
Other comprehensive income (loss), (net of tax)	10,538	(2,003)	11,269	4,992
Total comprehensive income	(295,904)	(204,005)	(290,017)	(230,840)
Cedar Fair L.P. (Parent) [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	69,999	92,371	92,672	131,215
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	0	(10)	0	2
Selling, general and administrative	327	610	2,254	2,264
Depreciation and amortization	0	0	0	0
Loss on impairment / retirement of fixed assets, net	0	0	0	0
Gain on sale of investment	0		0
Total costs and expenses	327	600	2,254	2,266
Operating income	69,672	91,771	90,418	128,949
Interest expense, net	4,857	7,984	18,285	23,776
Net effect of swaps	(578)	959	2,162	5,617
Loss on early debt extinguishment			11,773
Unrealized / realized foreign currency (gain) loss	0	0	0	0
Other (income) expense	62	62	187	187
Income from investment in affiliates	(132,699)	(98,451)	(108,835)	(94,910)
Income before taxes	198,030	181,217	166,846	194,279
Provision for taxes	6,715	6,230	8,917	9,795
Net income	191,315	174,987	157,929	184,484
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143)	1,397	(13,085)	(5,447)
Unrealized gain on cash flow hedging derivatives	1,994	1,994	5,981	1,356
Other comprehensive income (loss), (net of tax)	(9,149)	3,391	(7,104)	(4,091)
Total comprehensive income	182,166	178,378	150,825	180,393
Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	169,429	172,703	262,739	271,069
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	118,614	119,140	248,047	246,624
Selling, general and administrative	21,752	21,412	51,358	49,307
Depreciation and amortization	9	9	26	27
Loss on impairment / retirement of fixed assets, net	0	0	0	0
Gain on sale of investment	(1,877)		(1,877)
Total costs and expenses	138,498	140,561	297,554	295,958
Operating income	30,931	32,142	(34,815)	(24,889)
Interest expense, net	4,305	5,759	13,893	17,830
Net effect of swaps	(374)	691	1,555	3,285
Loss on early debt extinguishment			8,188
Unrealized / realized foreign currency (gain) loss	(27)	0	(27)	0
Other (income) expense	(26,676)	(29,663)	(56,623)	(69,801)
Income from investment in affiliates	(98,522)	(62,240)	(109,414)	(78,515)
Income before taxes	152,225	117,595	107,613	102,312
Provision for taxes	19,526	19,142	(1,223)	7,403
Net income	132,699	98,453	108,836	94,909
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized gain on cash flow hedging derivatives	605	606	1,816	455
Other comprehensive income (loss), (net of tax)	605	606	1,816	455
Total comprehensive income	133,304	99,059	110,652	95,364
Co-Issuer Subsidiary (Cedar Canada) [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	85,963	77,164	114,141	107,637
Costs and expenses:
Cost of food, merchandise, and games revenues	7,735	6,417	10,569	9,389
Operating expenses	19,627	17,885	37,701	36,249
Selling, general and administrative	4,539	4,413	8,592	8,757
Depreciation and amortization	7,856	7,624	12,869	13,022
Loss on impairment / retirement of fixed assets, net	87	57	542	83
Gain on sale of investment	0		0
Total costs and expenses	39,844	36,396	70,273	67,500
Operating income	46,119	40,768	43,868	40,137
Interest expense, net	6,152	6,323	18,317	18,672
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			198
Unrealized / realized foreign currency (gain) loss	(29,166)	7,337	(35,020)	(23,679)
Other (income) expense	1,163	1,302	2,640	3,051
Income from investment in affiliates	(16,843)	(12,574)	(24,389)	(18,008)
Income before taxes	84,813	38,380	82,122	60,101
Provision for taxes	26,432	9,643	23,473	15,701
Net income	58,381	28,737	58,649	44,400
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(11,143)	1,397	(13,085)	(5,447)
Unrealized gain on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	(11,143)	1,397	(13,085)	(5,447)
Total comprehensive income	47,238	30,134	45,564	38,953
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	596,837	606,823	1,019,399	1,036,162
Costs and expenses:
Cost of food, merchandise, and games revenues	44,912	45,640	81,807	83,471
Operating expenses	334,008	361,055	556,777	607,874
Selling, general and administrative	45,045	38,664	88,938	81,754
Depreciation and amortization	62,195	57,052	113,342	105,126
Loss on impairment / retirement of fixed assets, net	1,260	1,298	2,515	5,299
Gain on sale of investment	0		0
Total costs and expenses	487,420	503,709	843,379	883,524
Operating income	109,417	103,114	176,020	152,638
Interest expense, net	5,973	833	11,578	1,507
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			2,956
Unrealized / realized foreign currency (gain) loss	0	4	0	4
Other (income) expense	25,386	28,299	53,731	66,563
Income from investment in affiliates	(58,378)	(28,737)	(58,648)	(44,399)
Income before taxes	136,436	102,715	166,403	128,963
Provision for taxes	21,074	27,903	32,602	32,440
Net income	115,362	74,812	133,801	96,523
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized gain on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	0	0	0	0
Total comprehensive income	$ 115,362	$ 74,812	$ 133,801	$ 96,523

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Consolidating Financial Information of Guarantors and Issuers Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2017	Sep. 25, 2016
Condensed Financial Statements, Captions [Line Items]
NET CASH FROM (FOR) OPERATING ACTIVITIES	$ 322,618	$ 340,702
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments	0
Proceeds from sale of investment	3,281	0
Purchase of identifiable intangible assets	(66)	0
Capital expenditures	(152,373)	(126,864)
Net cash for investing activities	(149,158)	(126,864)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	0	0
Payments for returns of capital	0
Term debt borrowings	750,000	0
Note borrowings	500,000	0
Term debt payments	(617,850)	(6,000)
Note payments, including amounts paid for early termination	(515,458)	0
Distributions paid to partners	(144,517)	(139,042)
Payment of debt issuance costs	(19,684)	0
Tax effect of units involved in treasury unit transactions	(2,560)	(1,903)
Payments related to tax withholding for equity compensation	(2,053)	(920)
Net cash for financing activities	(52,122)	(147,865)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	5,892	1,772
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	127,230	67,745
Balance, beginning of period	122,716	119,557
Balance, end of period	249,946	187,302
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH FROM (FOR) OPERATING ACTIVITIES	(3,107)	(1,866)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	248,190	22,771
Proceeds from returns on investments	(500,000)
Proceeds from sale of investment	0
Purchase of identifiable intangible assets	0
Capital expenditures	0	0
Net cash for investing activities	(251,810)	22,771
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	(248,190)	(22,771)
Payments for returns of capital	500,000
Term debt borrowings	0
Note borrowings	0
Term debt payments	0	0
Note payments, including amounts paid for early termination	0
Distributions paid to partners	1,438	1,866
Payment of debt issuance costs	0
Tax effect of units involved in treasury unit transactions	0	0
Payments related to tax withholding for equity compensation	0	0
Net cash for financing activities	253,248	(20,905)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(1,669)	0
Balance, beginning of period	(1,025)	0
Balance, end of period	(2,694)	0
Cedar Fair L.P. (Parent) [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH FROM (FOR) OPERATING ACTIVITIES	61,966	99,232
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments	338,000
Proceeds from sale of investment	0
Purchase of identifiable intangible assets	0
Capital expenditures	0	0
Net cash for investing activities	338,000	0
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	50,003	(35,331)
Payments for returns of capital	0
Term debt borrowings	0
Note borrowings	0
Term debt payments	0	0
Note payments, including amounts paid for early termination	(304,014)
Distributions paid to partners	(145,955)	(140,908)
Payment of debt issuance costs	0
Tax effect of units involved in treasury unit transactions	0	0
Payments related to tax withholding for equity compensation	0	0
Net cash for financing activities	(399,966)	(176,239)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	0	(77,007)
Balance, beginning of period	0	77,007
Balance, end of period	0	0
Guarantor Subsidiaries Co Issuer Subsidiary Magnum [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH FROM (FOR) OPERATING ACTIVITIES	(3,954)	(54,042)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments	15,500
Proceeds from sale of investment	3,281
Purchase of identifiable intangible assets	0
Capital expenditures	(25)	0
Net cash for investing activities	18,756	0
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	198,187	58,102
Payments for returns of capital	0
Term debt borrowings	131,000
Note borrowings	0
Term debt payments	(126,619)	(1,237)
Note payments, including amounts paid for early termination	(211,444)
Distributions paid to partners	0	0
Payment of debt issuance costs	(1,313)
Tax effect of units involved in treasury unit transactions	(2,560)	(1,903)
Payments related to tax withholding for equity compensation	(2,053)	(920)
Net cash for financing activities	(14,802)	54,042
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	0	0
Balance, beginning of period	0	0
Balance, end of period	0	0
Co-Issuer Subsidiary (Cedar Canada) [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH FROM (FOR) OPERATING ACTIVITIES	40,125	41,273
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments	0
Proceeds from sale of investment	0
Purchase of identifiable intangible assets	0
Capital expenditures	(5,679)	(6,451)
Net cash for investing activities	(5,679)	(6,451)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	0	0
Payments for returns of capital	0
Term debt borrowings	0
Note borrowings	0
Term debt payments	(13,854)	(138)
Note payments, including amounts paid for early termination	0
Distributions paid to partners	0	0
Payment of debt issuance costs	0
Tax effect of units involved in treasury unit transactions	0	0
Payments related to tax withholding for equity compensation	0	0
Net cash for financing activities	(13,854)	(138)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	5,892	1,772
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	26,484	36,456
Balance, beginning of period	65,563	39,106
Balance, end of period	92,047	75,562
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH FROM (FOR) OPERATING ACTIVITIES	227,588	256,105
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	(248,190)	(22,771)
Proceeds from returns on investments	146,500
Proceeds from sale of investment	0
Purchase of identifiable intangible assets	(66)
Capital expenditures	(146,669)	(120,413)
Net cash for investing activities	(248,425)	(143,184)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	0	0
Payments for returns of capital	(500,000)
Term debt borrowings	619,000
Note borrowings	500,000
Term debt payments	(477,377)	(4,625)
Note payments, including amounts paid for early termination	0
Distributions paid to partners	0	0
Payment of debt issuance costs	(18,371)
Tax effect of units involved in treasury unit transactions	0	0
Payments related to tax withholding for equity compensation	0	0
Net cash for financing activities	123,252	(4,625)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	102,415	108,296
Balance, beginning of period	58,178	3,444
Balance, end of period	$ 160,593	$ 111,740