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 23, 2018

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 every Interactive Data File required to be submitted 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 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	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 26, 2018
Units Representing Limited Partner Interests	56,440,459

Page 1 of 46 pages

CEDAR FAIR, L.P.

FORM 10-Q CONTENTS

Part I - Financial Information
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	37
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	44
Item 4.	Controls and Procedures	45
Part II - Other Information
Item 1.	Legal Proceedings	45
Item 1A.	Risk Factors	45
Item 6.	Exhibits	45
Signatures		46

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

	9/23/2018			12/31/2017			9/24/2017
ASSETS
Current Assets:
Cash and cash equivalents	$	190,756		$	166,245		$	249,946
Receivables	58,398			37,722			52,303
Inventories	36,549			29,719			34,240
Other current assets	21,875			13,297			18,624
	307,578			246,983			355,113
Property and Equipment:
Land	272,186			271,021			272,213
Land improvements	435,513			421,593			416,629
Buildings	729,108			693,899			707,964
Rides and equipment	1,817,601			1,740,653			1,740,826
Construction in progress	61,474			72,847			57,605
	3,315,882			3,200,013			3,195,237
Less accumulated depreciation	(1,727,183		)	(1,614,241		)	(1,614,727		)
	1,588,699			1,585,772			1,580,510
Goodwill	182,004			183,830			185,010
Other Intangibles, net	37,131			38,064			38,532
Other Assets	13,536			9,510			17,407
	$	2,128,948		$	2,064,159		$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	3,750		$	—		$	—
Accounts payable	32,989			24,621			33,710
Deferred revenue	102,326			86,131			83,340
Accrued interest	21,893			8,124			23,928
Accrued taxes	48,372			43,975			78,657
Accrued salaries, wages and benefits	30,578			18,740			30,666
Self-insurance reserves	25,923			25,107			27,549
Other accrued liabilities	22,232			18,796			20,562
	288,063			225,494			298,412
Deferred Tax Liability	74,637			74,798			112,671
Derivative Liability	—			8,722			14,849
Other Liabilities	16,292			11,684			15,732
Long-Term Debt:
Term debt	720,846			723,788			723,385
Notes	937,440			936,727			936,241
	1,658,286			1,660,515			1,659,626
Partners’ Equity:
Special L.P. interests	5,290			5,290			5,290
General partner	—			—			—
Limited partners, 56,441, 56,359 and 56,238 units outstanding as of September 23, 2018, December 31, 2017 and September 24, 2017, respectively	78,464			81,589			74,155
Accumulated other comprehensive income (loss)	7,916			(3,933		)	(4,163		)
	91,670			82,946			75,282
	$	2,128,948		$	2,064,159		$	2,176,572

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
	9/23/2018			9/24/2017			9/23/2018			9/24/2017
Net revenues:
Admissions	$	358,923		$	361,279		$	590,091		$	598,723
Food, merchandise and games	210,426			205,137			361,428			356,512
Accommodations, extra-charge products and other	94,354			86,273			147,227			138,570
	663,703			652,689			1,098,746			1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	53,891			52,647			94,912			92,376
Operating expenses	206,505			202,710			462,750			447,379
Selling, general and administrative	67,114			71,663			149,837			151,142
Depreciation and amortization	74,374			70,060			132,114			126,237
Loss on impairment / retirement of fixed assets, net	3,247			1,347			7,959			3,057
Gain on sale of investment	—			(1,877		)	—			(1,877		)
	405,131			396,550			847,572			818,314
Operating income	258,572			256,139			251,174			275,491
Interest expense	21,464			21,638			62,563			62,472
Net effect of swaps	(1,217		)	(952		)	(5,751		)	3,717
Loss on early debt extinguishment	—			—			1,073			23,115
Loss (gain) on foreign currency	(13,054		)	(29,193		)	12,024			(35,047		)
Other income	(698		)	(416		)	(1,186		)	(464		)
Income before taxes	252,077			265,062			182,451			221,698
Provision for taxes	38,770			73,747			33,301			63,769
Net income	213,307			191,315			149,150			157,929
Net income allocated to general partner	3			1			2			1
Net income allocated to limited partners	$	213,304		$	191,314		$	149,148		$	157,928
Net income	$	213,307		$	191,315		$	149,150		$	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276		)	(11,143		)	5,990			(13,085		)
Unrealized loss on cash flow hedging derivatives	2,116			1,994			6,250			5,981
Other comprehensive income (loss), (net of tax)	(3,160		)	(9,149		)	12,240			(7,104		)
Total comprehensive income	$	210,147		$	182,166		$	161,390		$	150,825
Basic income per limited partner unit:
Weighted average limited partner units outstanding	56,231			56,078			56,205			56,062
Net income per limited partner unit	$	3.79		$	3.41		$	2.65		$	2.82
Diluted income per limited partner unit:
Weighted average limited partner units outstanding	56,696			56,591			56,753			56,631
Net income per limited partner unit	$	3.76		$	3.38		$	2.63		$	2.79

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 PARTNERS’ EQUITY

(In thousands)

	Nine months ended
	9/23/2018			9/24/2017
Limited Partnership Units Outstanding
Beginning balance	56,359			56,201
Limited partnership unit options exercised	6			9
Limited partnership unit forfeitures	(2		)	(3		)
Issuance of limited partnership units as compensation	78			31
	56,441			56,238
Limited Partners’ Equity
Beginning balance	$	81,589		$	52,288
Net income	149,148			157,928
Partnership distribution declared ($2.67 and $2.565 per limited partnership unit)	(150,850		)	(144,516		)
Reclassification of stranded tax effect	391			—
Exercise of limited partnership unit options	125			—
Tax effect of units involved in treasury unit transactions	(3,049		)	(2,560		)
Issuance of limited partnership units as compensation	1,110			11,015
	78,464			74,155
General Partner’s Equity
Beginning balance	—			—
Net income	2			1
Partnership distribution declared	(2		)	(1		)
	—			—
Special L.P. Interests	5,290			5,290
Accumulated Other Comprehensive Income
Foreign currency translation adjustment:
Beginning balance	4,042			18,891
Period activity, net of tax $1,247 and $0	5,990			(13,085		)
	10,032			5,806
Unrealized loss on cash flow hedging derivatives:
Beginning balance	(7,975		)	(15,950		)
Period activity, net of tax ($845) and ($1,113)	6,250			5,981
Reclassification of stranded tax effect	(391		)	—
	(2,116		)	(9,969		)
	7,916			(4,163		)
Total Partners’ Equity	$	91,670		$	75,282

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
	9/23/2018			9/24/2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	149,150		$	157,929
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	132,114			126,237
Loss on early debt extinguishment	1,073			23,115
Non-cash foreign currency loss (gain) on debt	13,093			(39,296		)
Other non-cash expenses	8,512			26,942
Net change in working capital	25,788			24,244
Net change in other assets/liabilities	4,704			3,447
Net cash from operating activities	334,434			322,618
CASH FLOWS FOR INVESTING ACTIVITIES
Capital expenditures	(145,716		)	(152,439		)
Proceeds from sale of investment	—			3,281
Net cash for investing activities	(145,716		)	(149,158		)
CASH FLOWS FOR FINANCING ACTIVITIES
Term debt borrowings	—			750,000
Note borrowings	—			500,000
Term debt payments	—			(617,850		)
Note payments, including amounts paid for early termination	—			(515,458		)
Distributions paid to partners	(150,852		)	(144,517		)
Payment of debt issuance costs and original issue discount	(2,521		)	(19,684		)
Exercise of limited partnership unit options	125			—
Tax effect of units involved in treasury unit transactions	(3,049		)	(2,560		)
Payments related to tax withholding for equity compensation	(6,943		)	(2,053		)
Net cash for financing activities	(163,240		)	(52,122		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(967		)	5,892
CASH AND CASH EQUIVALENTS
Net increase for the period	24,511			127,230
Balance, beginning of period	166,245			122,716
Balance, end of period	$	190,756		$	249,946
SUPPLEMENTAL INFORMATION
Cash payments for interest expense	$	48,128		$	48,729
Interest capitalized	2,173			1,770
Cash payments for income taxes, net of refunds	35,403			44,090
Capital expenditures in accounts payable	4,333			5,582

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 23, 2018 AND SEPTEMBER 24, 2017

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:

Except for the changes described below, the Partnership’s unaudited condensed consolidated financial statements for the periods ended September 23, 2018 and September 24, 2017 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, 2017, which were included in the Form 10-K filed on February 23, 2018. 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.

The Partnership adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") effective January 1, 2018 using the modified retrospective method. The adoption of the standard did not have a material effect on the consolidated financial statements. The Partnership's accounting policy as a result of adopting ASU 2014-09 is discussed below:

Revenue Recognition and related receivables and contract liabilities

As disclosed within the consolidated statements of operations and comprehensive income, revenues are generated from sales of (1) admission to the Partnership's amusement parks and water parks, (2) food, merchandise and games both inside and outside the parks, and (3) accommodations, extra-charge products, and other revenue sources. Admission revenues include amounts paid to gain admission into the Partnership's parks, including parking fees. Revenues related to extra-charge products, including premium benefit offerings such as front-of-line products, and online advanced purchase transaction fees charged to customers are included in "Accommodations, extra-charge products and other". Due to the Partnership's highly seasonal operations, a substantial portion of the Partnership's revenues are generated during an approximate 130- to 140-day operating season. Most revenues are recognized on a daily basis based on actual guest spend at the properties. Revenues from multi-use products, including season-long products for admission, dining, beverage and other products, are recognized over the estimated number of uses expected for each type of product. The estimated number of uses is reviewed and may be updated periodically during the operating season prior to the ticket or product expiration, which generally occurs no later than the close of the operating season. The number of uses is estimated based on historical usage adjusted for current period trends. For any bundled products that include multiple performance obligations, revenue is allocated using the retail price of each distinct performance obligation and any inherent discounts are allocated based on the gross margin and expected redemption of each performance obligation. The Partnership does not typically provide for refunds or returns.

In some instances, the Partnership arranges with outside parties ("concessionaires") to provide goods to guests, typically food and merchandise, and the Partnership acts as an agent, resulting in net revenue recorded within the income statement. Concessionaire arrangement revenues are recognized over the operating season and are variable. Sponsorship revenues and marina revenues, which are classified as "Accommodations, extra-charge products and other" within the income statement, are recognized over the park operating season which represents the period in which the performance obligations are satisfied. Sponsorship revenues are typically fixed. However, some sponsorship revenues are variable based on achievement of specified operating metrics. The Partnership estimates variable revenues and performs a constraint analysis using both historical information and current trends to determine the amount of revenue that is not probable of a significant reversal.

Many products, including season-long products, are sold to customers in advance, resulting in a contract liability ("deferred revenue"). Deferred revenue is at its highest immediately prior to the peak summer season, and at its lowest in the fall after the peak summer season and at the beginning of the selling season for the next year's products. Season-long products represent the majority of the deferred revenue balance in any given period.

Of the $86.1 million of deferred revenue recorded as of January 1, 2018, 88% was related to season-long products. The remainder was related to deferred online advanced purchase transaction fees charged to customers, advanced ticket sales, marina deposits, advanced resort reservations, and other deferred revenue. Most deferred revenue outstanding as of January 1, 2018 will be

7

recognized by December 31, 2018 with the exception of an immaterial amount of deferred revenue for prepaid products such as gift cards and prepaid games cards. During the nine months ended September 23, 2018, approximately $70.8 million of the deferred revenue balance as of January 1, 2018 was recognized. The difference in the opening and closing balances of the Partnership's deferred revenue balance in the current period was attributable to additional season-long product sales during the current year for both the 2018 and 2019 operating seasons, offset by revenue recognized during the first nine months of 2018.

Payment is due immediately on the transaction date for most products. The Partnership's receivable balance includes outstanding amounts on installment purchase plans which are offered for season-long products (and other select products for specific time periods), and includes sales to retailers, group sales and catering activities which are billed. Installment purchase plans vary in length from three monthly installments to twelve monthly installments. Payment terms for billings are typically net 30 days. Receivables are highest in the peak summer months and the lowest in the winter months. The Partnership is not exposed to a significant concentration of customer credit risk. As of September 23, 2018, December 31, 2017 and September 24, 2017, the Partnership recorded a $10.7 million, $2.2 million and $10.6 million allowance for doubtful accounts, respectively, representing estimated defaults on installment purchase plans. The default estimate is calculated using the historical default rate adjusted for current period trends. The allowance for doubtful accounts is recorded as a reduction of deferred revenue to the extent revenue has not been recognized on the corresponding season-long products.

Most deferred revenue from contracts with customers is classified as current within the balance sheet. However, a portion of deferred revenue from contracts with customers is classified as non-current during the third quarter related to season-long products sold in the current season for use in the subsequent season. Season-long products are sold beginning in August of the year preceding the operating season. Season-long products may be recognized 12 to 16 months after purchase depending on the date of sale. The Partnership estimates the number of uses expected outside of the next twelve months for each type of product and classifies the related deferred revenue as non-current.

With the exception of the non-current deferred revenue described above, the Partnership's contracts with customers have an original duration of one year or less. For these short-term contracts, the Partnership uses the practical expedient, a relief provided in the accounting standard to simplify compliance, applicable to such contracts and has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue. Further, the Partnership has elected to recognize incremental costs of obtaining a contract as an expense when incurred as the amortization period of the asset would be less than one year. Lastly, the Partnership has elected not to adjust consideration for the effects of significant financing components in the form of installment purchase plans as the period between when the entity transfers the promised service to the customer and when the customer pays for that service does not exceed one year.

New Accounting Pronouncements

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. The ASU can be adopted using either the modified retrospective approach, which requires application of the new standard at the beginning of the earliest comparative period presented, or the comparative reporting approach allowable under ASU 2018-11, which requires application of the new standard at the adoption date. The Partnership expects to adopt this standard in the first quarter of 2019 using the comparative reporting approach. 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.

Other Adopted Accounting Pronouncements

In February 2018, the FASB issued Accounting Standards Update No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Comprehensive Income ("ASU 2018-02"). The ASU allows a reclassification from accumulated other comprehensive income to retained earnings of stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU 2018-02 is effective for fiscal years after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, and the amendments can be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Partnership elected to adopt ASU 2018-02 in the first quarter of 2018. The amendment was applied in the period of adoption and resulted in a $0.4 million reclassification from accumulated other comprehensive income to limited partners' equity during the first quarter ended March 25, 2018.

8

In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract ("ASU 2018-15"). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. ASU 2018-15 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. The Partnership has adopted this standard in the third quarter of 2018 using the prospective method. The Partnership anticipates the standard to lengthen the timing of expense recognition associated with upcoming cloud-based projects.

(2) Interim Reporting:

The Partnership owns and operates eleven amusement parks, two separately gated outdoor water parks, one indoor water park and four 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 for Halloween events. 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. Five of the seasonal properties are open an additional 20 to 25 days to include WinterFest, a holiday event operating during November and December showcasing holiday shows and festivities. 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 from multi-use products are recognized over the estimated number of uses expected for each type of product; and the estimated number of uses is reviewed and may be updated periodically during the operating season prior to the ticket or product expiration, which generally 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.

(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.

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. In the fourth quarter of 2017, the Partnership recorded a $7.6 million impairment charge based on information from ongoing marketing activities. The amount was recorded in "Loss on impairment / retirement of fixed assets, net" in the consolidated statement of operations and comprehensive income. 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 ($9.0 million as of September 23, 2018, $9.0 million as of December 31, 2017 and $16.5 million as of September 24, 2017).

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(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 23, 2018, 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 23, 2018 and September 24, 2017 is as follows:

(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance as of December 31, 2017	$	263,698		$	(79,868	)	$	183,830
Foreign currency translation	(1,826		)	—			(1,826		)
Balance as of September 23, 2018	$	261,872		$	(79,868	)	$	182,004
Balance as of December 31, 2016	$	259,528		$	(79,868	)	$	179,660
Foreign currency translation	5,350			—			5,350
Balance as of September 24, 2017	$	264,878		$	(79,868	)	$	185,010

As of September 23, 2018, December 31, 2017, and September 24, 2017, the Partnership’s other intangible assets consisted of the following:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
September 23, 2018
Other intangible assets:
Trade names	$	36,125	$	—		$	36,125
License / franchise agreements	3,351		(2,345		)	1,006
Total other intangible assets	$	39,476	$	(2,345	)	$	37,131
December 31, 2017
Other intangible assets:
Trade names	$	36,531	$	—		$	36,531
License / franchise agreements	3,360		(1,827		)	1,533
Total other intangible assets	$	39,891	$	(1,827	)	$	38,064
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

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

10

(5) Long-Term Debt:

Long-term debt as of September 23, 2018, December 31, 2017, and September 24, 2017 consisted of the following:

(In thousands)	September 23, 2018			December 31, 2017			September 24, 2017
Term debt (1)
April 2017 U.S. term loan averaging 3.59% (due 2017-2024)	$	735,000		$	735,000		$	735,000
Notes
April 2017 U.S. fixed rate notes at 5.375% (due 2027)	500,000			500,000			500,000
June 2014 U.S. fixed rate notes at 5.375% (due 2024)	450,000			450,000			450,000
	1,685,000			1,685,000			1,685,000
Less current portion	(3,750		)	—			—
	1,681,250			1,685,000			1,685,000
Less debt issuance costs and original issue discount	(22,964		)	(24,485		)	(25,374		)
	$	1,658,286		$	1,660,515		$	1,659,626

(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 $7.7 million and debt premium payments of $15.5 million. Accordingly, the Partnership recorded a loss on early debt extinguishment of $23.1 million during 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 2017 Credit Agreement was amended on March 14, 2018 (subsequently referred to as the "Amended 2017 Credit Agreement"). Specifically, the interest rate for the senior secured term loan facility was amended to London InterBank Offered Rate ("LIBOR") plus 175 basis points (bps). The pricing terms for the amendment reflected $0.9 million of Original Issue Discount ("OID") and resulted in the write-off of debt issuance costs of $1.1 million which was recorded as a loss on early debt extinguishment during the first quarter of 2018. The senior secured term loan facility matures April 15, 2024 and amortizes at $7.5 million annually. The facilities provided under the Amended 2017 Credit Agreement are collateralized by substantially all of the assets of the Partnership.

The senior secured revolving credit facility under the Amended 2017 Credit Agreement has a combined limit of $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 Amended 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"). The 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 Amended 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 23, 2018, the Partnership was in compliance with this financial condition covenant and all other financial covenants under the Amended 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 can make additional Restricted Payments if the Partnership's pro forma Total-Indebtedness-to-Consolidated-Cash-Flow Ratio is 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.

During the first quarter of 2016, the Partnership amended its four interest rate swap agreements to extend each of the maturities to December 31, 2020 and convert $500 million of variable-rate debt to a rate of 4.39%. During the second quarter of 2018, the Partnership entered into four additional interest rate swap agreements that convert the same notional amount to a rate of 4.63% for the period December 31, 2020 through December 31, 2023. None of the interest rate swap agreements are designated as hedging instruments. The fair market value of the swap portfolio was recorded on the unaudited condensed consolidated balance sheets within "Other Assets" as of September 23, 2018 and within "Derivative Liability" as of December 31, 2017 and September 24, 2017 as follows:

(In thousands)	September 23, 2018		December 31, 2017			September 24, 2017
Derivatives not designated as hedging instruments:
Interest rate swaps	$	4,123	$	(8,722	)	$	(14,849	)

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 is 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 for these agreements are being amortized into earnings through the original December 31, 2018 maturity. As of September 23, 2018, approximately $2.4 million of losses remain in AOCI related to the effective cash flow hedge contracts prior to de-designation, all of which will be reclassified to earnings by December 31, 2018.

The (gains) losses recognized in income on derivatives not designated as cash flow hedges were recorded in "Net effect of swaps" within the income statement for the periods presented as follows:

	Three months ended						Nine months ended
(In thousands)	September 23, 2018			September 24, 2017			September 23, 2018			September 24, 2017
Change in fair market value	$	(3,581	)	$	(3,318	)	$	(12,845	)	$	(3,378	)
Amortization of amounts in AOCI	2,364			2,366			7,094			7,095
Net effect of swaps	$	(1,217	)	$	(952	)	$	(5,751	)	$	3,717

12

(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 23, 2018, December 31, 2017, and September 24, 2017 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 23, 2018						December 31, 2017						September 24, 2017
			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	$	1,081		$	1,081		$	736		$	736		$	688		$	688
Interest rate swaps	Other Assets (Derivative Liability)	Level 2	$	4,123		$	4,123		$	(8,722	)	$	(8,722	)	$	(14,849	)	$	(14,849	)
Other financial assets (liabilities):
April 2017 term debt	Long-Term Debt (1)	Level 2	$	(731,250	)	$	(734,906	)	$	(735,000	)	$	(742,350	)	$	(735,000	)	$	(740,513	)
June 2014 notes	Long-Term Debt (1)	Level 1	$	(450,000	)	$	(450,000	)	$	(450,000	)	$	(469,125	)	$	(450,000	)	$	(472,500	)
April 2017 notes	Long-Term Debt (1)	Level 1(2)	$	(500,000	)	$	(485,000	)	$	(500,000	)	$	(525,000	)	$	(500,000	)	$	(527,500	)

(1) Carrying values of long-term debt balances are before reductions for debt issuance costs and original issue discount of $23.0 million, $24.5 million, and $25.4 million as of September 23, 2018, December 31, 2017, and September 24, 2017, respectively.

(2) The April 2017 notes were based on Level 1 inputs as of September 23, 2018 and Level 2 inputs as of December 31, 2017 and September 24, 2017.

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.

As of December 31, 2017, the Partnership measured the remaining land at Wildwater Kingdom, one of the Partnership's separately gated outdoor water parks which ceased operations in 2016, at fair value less cost to sell based on Level 3 unobservable market input. In the fourth quarter of 2017, the Partnership recorded a $7.6 million impairment charge based on information from ongoing marketing activities. This amount was recorded in "Loss on impairment / retirement of fixed assets, net" in the consolidated statement of operations and comprehensive income.

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 23, 2018 or September 24, 2017.

13

(8) Earnings per Unit:

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

	Three months ended				Nine months ended
	9/23/2018		9/24/2017		9/23/2018		9/24/2017
	(In thousands, except per unit amounts)
Basic weighted average units outstanding	56,231		56,078		56,205		56,062
Effect of dilutive units:
Deferred units	46		44		46		41
Performance units	—		—		49		48
Restricted units	277		284		289		292
Unit options	142		185		164		188
Diluted weighted average units outstanding	56,696		56,591		56,753		56,631
Net income per unit - basic	$	3.79	$	3.41	$	2.65	$	2.82
Net income per unit - diluted	$	3.76	$	3.38	$	2.63	$	2.79

(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 2018, the Partnership has recorded $0.5 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.

On December 22, 2017, the Tax Cuts and Jobs Act (the "Act"), was signed into law.  The Act includes numerous tax law changes, including a reduction in the federal corporate income tax rate from 35% to 21%.  The change in tax rates necessitated the remeasurement of deferred tax balances that are expected to reverse following enactment using the applicable tax rates.  As a result of the remeasurement of the net deferred tax liability, the Partnership realized a $49.2 million deferred tax benefit during the fourth quarter of 2017.  The amounts recorded to reflect the effects of the Act were and remain provisional and are subject to change in accordance with SAB 118.  The Partnership expects to complete these calculations and record the final effects of the Act before the end of the fourth quarter of 2018.

(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.

14

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

The following tables reflect the changes in accumulated other comprehensive income (loss) related to limited partners' equity for the three months ended September 23, 2018 and September 24, 2017:

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of June 24, 2018	$	(4,232	)	$	15,308		$	11,076
Other comprehensive income before reclassifications, net of tax ($1,055)	—			(5,276		)	(5,276		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($249)	2,116			—			2,116
Net other comprehensive income (loss)	2,116			(5,276		)	(3,160		)
Balance as of September 23, 2018	$	(2,116	)	$	10,032		$	7,916

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of 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)	1,994			—			1,994
Net other comprehensive income (loss)	1,994			(11,143		)	(9,149		)
Balance as of September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

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 9/23/2018			Three months ended 9/24/2017
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(249		)	(371		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	2,116		$	1,994		Net of tax

15

The following tables reflect the changes in accumulated other comprehensive income (loss) related to limited partners' equity for the nine months ended September 23, 2018 and September 24, 2017:

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation		Total
Balance as of December 31, 2017	$	(7,975	)	$	4,042	$	(3,933	)
Other comprehensive income before reclassifications, net of tax $1,247	—			5,990		5,990
Amounts reclassified from accumulated other comprehensive income, net of tax ($845)	6,250			—		6,250
Net other comprehensive income (loss)	6,250			5,990		12,240
Reclassification of stranded tax effect	(391		)	—		(391		)
Balance as of September 23, 2018	$	(2,116	)	$	10,032	$	7,916

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of 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)	5,981			—			5,981
Net other comprehensive income (loss)	5,981			(13,085		)	(7,104		)
Balance as of September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

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 9/23/2018			Nine months ended 9/24/2017
Interest rate contracts	$	7,095		$	7,094		Net effect of swaps
Provision for taxes	(845		)	(1,113		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	6,250		$	5,981		Net of tax

16

(12) Consolidating Financial Information of Guarantors and Issuers of June 2014 Notes:

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 23, 2018, December 31, 2017, and September 24, 2017 and for the three- and nine-month periods ended September 23, 2018 and September 24, 2017. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the accompanying unaudited condensed consolidating financial statements have been included.

17

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 23, 2018

(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	$	—	$	—	$	77,878	$	116,511	$	(3,633	)	$	190,756
Receivables	—		991		47,193		895,263		(885,049		)	58,398
Inventories	—		—		2,260		34,289		—			36,549
Other current assets	293		1,170		3,594		19,546		(2,728		)	21,875
	293		2,161		130,925		1,065,609		(891,410		)	307,578
Property and Equipment, net	—		811		178,522		1,409,366		—			1,588,699
Investment in Park	648,414		1,205,086		259,710		246,968		(2,360,178		)	—
Goodwill	674		—		61,725		119,605		—			182,004
Other Intangibles, net	—		—		13,763		23,368		—			37,131
Deferred Tax Asset	—		19,870		—		—		(19,870		)	—
Other Assets	1,197		2,926		39		9,374		—			13,536
	$	650,578	$	1,230,854	$	644,684	$	2,874,290	$	(3,271,458	)	$	2,128,948
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	656	$	—	$	3,094	$	—		$	3,750
Accounts payable	553,952		334,696		2,868		30,155		(888,682		)	32,989
Deferred revenue	—		—		9,397		92,929		—			102,326
Accrued interest	113		75		7,601		14,104		—			21,893
Accrued taxes	1,551		38,538		—		11,011		(2,728		)	48,372
Accrued salaries, wages and benefits	—		28,162		2,416		—		—			30,578
Self-insurance reserves	—		10,459		1,635		13,829		—			25,923
Other accrued liabilities	3,292		6,796		585		11,559		—			22,232
	558,908		419,382		24,502		176,681		(891,410		)	288,063
Deferred Tax Liability	—		—		12,562		81,945		(19,870		)	74,637
Other Liabilities	—		968		390		14,934		—			16,292
Long-Term Debt:
Term debt	—		126,800		—		594,046		—			720,846
Notes	—		—		445,846		491,594		—			937,440
	—		126,800		445,846		1,085,640		—			1,658,286
Equity	91,670		683,704		161,384		1,515,090		(2,360,178		)	91,670
	$	650,578	$	1,230,854	$	644,684	$	2,874,290	$	(3,271,458	)	$	2,128,948

18

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 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	$	—	$	—	$	85,758	$	81,582	$	(1,095	)	$	166,245
Receivables	—		1,184		15,574		857,205		(836,241		)	37,722
Inventories	—		—		1,891		27,828		—			29,719
Other current assets	164		28,297		3,454		10,983		(29,601		)	13,297
	164		29,481		106,677		977,598		(866,937		)	246,983
Property and Equipment, net	—		835		181,673		1,403,264		—			1,585,772
Investment in Park	588,684		1,045,640		238,132		234,238		(2,106,694		)	—
Goodwill	674		—		63,551		119,605		—			183,830
Other Intangibles, net	—		—		14,177		23,887		—			38,064
Deferred Tax Asset	—		20,956		—		—		(20,956		)	—
Other Assets	—		—		40		9,470		—			9,510
	$	589,522	$	1,096,912	$	604,250	$	2,768,062	$	(2,994,587	)	$	2,064,159
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	497,558	$	344,410	$	1,379	$	18,610	$	(837,336	)	$	24,621
Deferred revenue	—		—		6,237		79,894		—			86,131
Accrued interest	27		18		2,055		6,024		—			8,124
Accrued taxes	352		—		—		73,224		(29,601		)	43,975
Accrued salaries, wages and benefits	—		17,498		1,242		—		—			18,740
Self-insurance reserves	—		10,947		1,618		12,542					25,107
Other accrued liabilities	3,406		5,094		157		10,139		—			18,796
	501,343		377,967		12,688		200,433		(866,937		)	225,494
Deferred Tax Liability	—		—		13,809		81,945		(20,956		)	74,798
Derivative Liability	5,233		3,489		—		—		—			8,722
Other Liabilities	—		873		—		10,811		—			11,684
Long-Term Debt:
Term debt	—		127,437		—		596,351		—			723,788
Notes	—		—		445,156		491,571		—			936,727
	—		127,437		445,156		1,087,922		—			1,660,515
Equity	82,946		587,146		132,597		1,386,951		(2,106,694		)	82,946
	$	589,522	$	1,096,912	$	604,250	$	2,768,062	$	(2,994,587	)	$	2,064,159

19

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	—		—		6,876		76,464		—			83,340
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		42,010		214,101		(834,494		)	298,412
Deferred Tax Liability	—		—		19,511		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—			14,849
Other Liabilities	—		1,398		261		14,073		—			15,732
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

20

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	71,751		$	182,833		$	81,265		$	613,094		$	(285,240	)	$	663,703
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			7,020			46,871			—			53,891
Operating expenses	—			122,455			20,145			349,145			(285,240		)	206,505
Selling, general and administrative	185			20,666			4,582			41,681			—			67,114
Depreciation and amortization	—			8			8,379			65,987			—			74,374
Loss on impairment / retirement of fixed assets, net	—			—			—			3,247			—			3,247
	185			143,129			40,126			506,931			(285,240		)	405,131
Operating income	71,566			39,704			41,139			106,163			—			258,572
Interest expense, net	5,879			4,072			5,986			4,997			—			20,934
Net effect of swaps	265			(1,482		)	—			—			—			(1,217		)
(Gain) loss on foreign currency	—			15			(13,069		)	—			—			(13,054		)
Other (income) expense	63			(28,849		)	1,484			27,134			—			(168		)
Income from investment in affiliates	(153,756		)	(100,629		)	(16,509		)	(56,985		)	327,879			—
Income before taxes	219,115			166,577			63,247			131,017			(327,879		)	252,077
Provision for taxes	5,808			12,823			6,261			13,878			—			38,770
Net income	$	213,307		$	153,754		$	56,986		$	117,139		$	(327,879	)	$	213,307
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276		)	—			(5,276		)	—			5,276			(5,276		)
Unrealized gain on cash flow hedging derivatives	2,116			728			—			—			(728		)	2,116
Other comprehensive income (loss), (net of tax)	(3,160		)	728			(5,276		)	—			4,548			(3,160		)
Total comprehensive income	$	210,147		$	154,482		$	51,710		$	117,139		$	(323,331	)	$	210,147

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 Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	84,921		$	275,214		$	111,184		$	1,023,713		$	(396,286	)	$	1,098,746
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			10,204			84,708			—			94,912
Operating expenses	—			258,162			40,115			560,759			(396,286		)	462,750
Selling, general and administrative	1,870			50,754			8,818			88,395			—			149,837
Depreciation and amortization	—			24			14,319			117,771			—			132,114
Loss on impairment / retirement of fixed assets, net	—			—			67			7,892			—			7,959
	1,870			308,940			73,523			859,525			(396,286		)	847,572
Operating income (loss)	83,051			(33,726		)	37,661			164,188			—			251,174
Interest expense, net	16,519			13,031			17,637			14,565			—			61,752
Net effect of swaps	(2,266		)	(3,485		)	—			—			—			(5,751		)
Loss on early debt extinguishment	—			187			—			886			—			1,073
Loss on foreign currency	—			36			11,988			—			—			12,024
Other (income) expense	186			(61,404		)	3,270			57,573			—			(375		)
Income from investment in affiliates	(89,426		)	(74,345		)	(21,578		)	(22,798		)	208,147			—
Income before taxes	158,038			92,254			26,344			113,962			(208,147		)	182,451
Provision for taxes	8,888			2,829			3,545			18,039			—			33,301
Net income	$	149,150		$	89,425		$	22,799		$	95,923		$	(208,147	)	$	149,150
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	5,990			—			5,990			—			(5,990		)	5,990
Unrealized gain on cash flow hedging derivatives	6,250			2,085			—			—			(2,085		)	6,250
Other comprehensive income (loss), (net of tax)	12,240			2,085			5,990			—			(8,075		)	12,240
Total comprehensive income	$	161,390		$	91,510		$	28,789		$	95,923		$	(216,222	)	$	161,390

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 CASH FLOWS

For the Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	95,426		$	13,190		$	41,319		$	188,005		$	(3,506	)	$	334,434
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(31,877		)	(21,515		)	53,392			—
Capital expenditures	—			—			(16,355		)	(129,361		)	—			(145,716		)
Net cash for investing activities	—			—			(48,232		)	(150,876		)	53,392			(145,716		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394			(3,002		)	—			—			(53,392		)	—
Distributions paid to partners	(151,820		)	—			—			—			968			(150,852		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,200		)	—			(2,521		)
Exercise of limited partnership unit options	—			125			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(3,049		)	—			—			—			(3,049		)
Payments related to tax withholding for equity compensation	—			(6,943		)	—			—			—			(6,943		)
Net cash for financing activities	(95,426		)	(13,190		)	—			(2,200		)	(52,424		)	(163,240		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(967		)	—			—			(967		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	—			—			(7,880		)	34,929			(2,538		)	24,511
Balance, beginning of period	—			—			85,758			81,582			(1,095		)	166,245
Balance, end of period	$	—		$	—		$	77,878		$	116,511		$	(3,633	)	$	190,756

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
Capital expenditures	—			(25		)	(5,679		)	(146,735		)	—			(152,439		)
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

(13) Consolidating Financial Information of Guarantors and Issuers of April 2017 Notes:

Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), Magnum Management Corporation ("Magnum"), and Millennium Operations LLC ("Millennium") are the co-issuers of the Partnership's April 2017 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, Magnum and Millennium) 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, Magnum, and Millennium, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada, Magnum and Millennium), the guarantors (on a combined basis), as of September 23, 2018, December 31, 2017, and September 24, 2017 and for the three- and nine-month periods ended September 23, 2018 and September 24, 2017. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the accompanying unaudited condensed consolidating financial statements have been included.

27

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	77,878	$	115,323	$	1,188	$	(3,633	)	$	190,756
Receivables	—		991		47,193		36,711		858,552		(885,049		)	58,398
Inventories	—		—		2,260		28,205		6,084		—			36,549
Other current assets	293		1,170		3,594		15,871		3,675		(2,728		)	21,875
	293		2,161		130,925		196,110		869,499		(891,410		)	307,578
Property and Equipment, net	—		811		178,522		—		1,409,366		—			1,588,699
Investment in Park	648,414		1,205,086		259,710		1,490,666		246,968		(3,850,844		)	—
Goodwill	674		—		61,725		8,388		111,217		—			182,004
Other Intangibles, net	—		—		13,763		—		23,368		—			37,131
Deferred Tax Asset	—		19,870		—		—		—		(19,870		)	—
Other Assets	1,197		2,926		39		312		9,062		—			13,536
	$	650,578	$	1,230,854	$	644,684	$	1,695,476	$	2,669,480	$	(4,762,124	)	$	2,128,948
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	656	$	—	$	3,094	$	—	$	—		$	3,750
Accounts payable	553,952		334,696		2,868		23,330		6,825		(888,682		)	32,989
Deferred revenue	—		—		9,397		66,342		26,587		—			102,326
Accrued interest	113		75		7,601		14,104		—		—			21,893
Accrued taxes	1,551		38,538		—		9,569		1,442		(2,728		)	48,372
Accrued salaries, wages and benefits	—		28,162		2,416		—		—		—			30,578
Self-insurance reserves	—		10,459		1,635		11,856		1,973		—			25,923
Other accrued liabilities	3,292		6,796		585		6,937		4,622		—			22,232
	558,908		419,382		24,502		135,232		41,449		(891,410		)	288,063
Deferred Tax Liability	—		—		12,562		—		81,945		(19,870		)	74,637
Other Liabilities	—		968		390		3,304		11,630		—			16,292
Long-Term Debt:
Term debt	—		126,800		—		594,046		—		—			720,846
Notes	—		—		445,846		491,594		—		—			937,440
	—		126,800		445,846		1,085,640		—		—			1,658,286
Equity	91,670		683,704		161,384		471,300		2,534,456		(3,850,844		)	91,670
	$	650,578	$	1,230,854	$	644,684	$	1,695,476	$	2,669,480	$	(4,762,124	)	$	2,128,948

28

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	85,758	$	80,430	$	1,152	$	(1,095	)	$	166,245
Receivables	—		1,184		15,574		26,130		831,075		(836,241		)	37,722
Inventories	—		—		1,891		22,528		5,300		—			29,719
Other current assets	164		28,297		3,454		9,341		1,642		(29,601		)	13,297
	164		29,481		106,677		138,429		839,169		(866,937		)	246,983
Property and Equipment, net	—		835		181,673		—		1,403,264		—			1,585,772
Investment in Park	588,684		1,045,640		238,132		1,392,761		234,237		(3,499,454		)	—
Goodwill	674		—		63,551		8,387		111,218		—			183,830
Other Intangibles, net	—		—		14,177		—		23,887		—			38,064
Deferred Tax Asset	—		20,956		—		—		—		(20,956		)	—
Other Assets	—		—		40		402		9,068		—			9,510
	$	589,522	$	1,096,912	$	604,250	$	1,539,979	$	2,620,843	$	(4,387,347	)	$	2,064,159
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	497,558	$	344,410	$	1,379	$	13,572	$	5,038	$	(837,336	)	$	24,621
Deferred revenue	—		—		6,237		59,307		20,587		—			86,131
Accrued interest	27		18		2,055		6,024		—		—			8,124
Accrued taxes	352		—		—		6,176		67,048		(29,601		)	43,975
Accrued salaries, wages and benefits	—		17,498		1,242		—		—		—			18,740
Self-insurance reserves	—		10,947		1,618		10,156		2,386		—			25,107
Other accrued liabilities	3,406		5,094		157		5,649		4,490		—			18,796
	501,343		377,967		12,688		100,884		99,549		(866,937		)	225,494
Deferred Tax Liability	—		—		13,809		—		81,945		(20,956		)	74,798
Derivative Liability	5,233		3,489		—		—		—		—			8,722
Other Liabilities	—		873		—		120		10,691		—			11,684
Long-Term Debt:
Term debt	—		127,437		—		596,351		—		—			723,788
Notes	—		—		445,156		491,571		—		—			936,727
	—		127,437		445,156		1,087,922		—		—			1,660,515
Equity	82,946		587,146		132,597		351,053		2,428,658		(3,499,454		)	82,946
	$	589,522	$	1,096,912	$	604,250	$	1,539,979	$	2,620,843	$	(4,387,347	)	$	2,064,159

29

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)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	92,047	$	158,904	$	1,689	$	(2,694	)	$	249,946
Receivables	—		1,285		33,158		32,049		805,545		(819,734		)	52,303
Inventories	—		—		2,423		26,158		5,659		—			34,240
Other current assets	275		12,843		743		12,874		3,955		(12,066		)	18,624
	275		14,128		128,371		229,985		816,848		(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		1,370,295		222,953		(3,401,117		)	—
Goodwill	674		—		64,730		8,388		111,218		—			185,010
Other Intangibles, net	—		—		14,443		—		24,089		—			38,532
Deferred Tax Asset	—		32,190		—		—		—		(32,190		)	—
Other Assets	—		—		53		447		16,907		—			17,407
	$	567,497	$	1,064,017	$	615,266	$	1,609,115	$	2,588,478	$	(4,267,801	)	$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	478,416	$	345,150	$	6,431	$	21,094	$	5,047	$	(822,428	)	$	33,710
Deferred revenue	—		—		6,876		53,120		23,344		—			83,340
Accrued interest	292		195		9,209		14,232		—		—			23,928
Accrued taxes	1,589		—		14,910		9,024		65,200		(12,066		)	78,657
Accrued salaries, wages and benefits	—		28,306		2,360		—		—		—			30,666
Self-insurance reserves	—		12,090		1,725		11,525		2,209		—			27,549
Other accrued liabilities	2,985		7,772		499		4,722		4,584		—			20,562
	483,282		393,513		42,010		113,717		100,384		(834,494		)	298,412
Deferred Tax Liability	—		—		19,511		—		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—		—			14,849
Other Liabilities	—		1,398		261		2,081		11,992		—			15,732
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		405,967		2,350,752		(3,401,117		)	75,282
	$	567,497	$	1,064,017	$	615,266	$	1,609,115	$	2,588,478	$	(4,267,801	)	$	2,176,572

30

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	71,751		$	182,833		$	81,265		$	474,711	$	189,672		$	(336,529	)	$	663,703
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			7,020			38,134		8,737			—			53,891
Operating expenses	—			122,455			20,145			388,158		12,276			(336,529		)	206,505
Selling, general and administrative	185			20,666			4,582			34,578		7,103			—			67,114
Depreciation and amortization	—			8			8,379			—		65,987			—			74,374
Loss on impairment / retirement of fixed assets, net	—			—			—			422		2,825			—			3,247
	185			143,129			40,126			461,292		96,928			(336,529		)	405,131
Operating income	71,566			39,704			41,139			13,419		92,744			—			258,572
Interest (income) expense, net	5,879			4,072			5,986			12,940		(7,943		)	—			20,934
Net effect of swaps	265			(1,482		)	—			—		—			—			(1,217		)
(Gain) loss on foreign currency	—			15			(13,069		)	—		—			—			(13,054		)
Other (income) expense	63			(28,849		)	1,484			—		27,134			—			(168		)
Income from investment in affiliates	(153,756		)	(100,629		)	(16,509		)	—		(56,985		)	327,879			—
Income before taxes	219,115			166,577			63,247			479		130,538			(327,879		)	252,077
Provision for taxes	5,808			12,823			6,261			479		13,399			—			38,770
Net income	$	213,307		$	153,754		$	56,986		$	—	$	117,139		$	(327,879	)	$	213,307
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(5,276		)	—			(5,276		)	—		—			5,276			(5,276		)
Unrealized gain on cash flow hedging derivatives	2,116			728			—			—		—			(728		)	2,116
Other comprehensive income (loss), (net of tax)	(3,160		)	728			(5,276		)	—		—			4,548			(3,160		)
Total comprehensive income	$	210,147		$	154,482		$	51,710		$	—	$	117,139		$	(323,331	)	$	210,147

31

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)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	69,999		$	169,429		$	85,963		$	457,530	$	189,586		$	(319,818	)	$	652,689
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			7,735			36,301		8,611			—			52,647
Operating expenses	—			118,614			19,627			371,768		12,519			(319,818		)	202,710
Selling, general and administrative	327			21,752			4,539			36,021		9,024			—			71,663
Depreciation and amortization	—			9			7,856			—		62,195			—			70,060
Loss on impairment / retirement of fixed assets, net	—			—			87			738		522			—			1,347
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	327			138,498			39,844			444,828		92,871			(319,818		)	396,550
Operating income	69,672			30,931			46,119			12,702		96,715			—			256,139
Interest (income) expense, net	4,857			4,305			6,152			12,167		(6,194		)	—			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			535		135,901			(306,442		)	265,062
Provision for taxes	6,715			19,526			26,432			535		20,539			—			73,747
Net income	$	191,315		$	132,699		$	58,381		$	—	$	115,362		$	(306,442	)	$	191,315
Other comprehensive income (loss), (net of tax):
Cumulative 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

32

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	84,921		$	275,214		$	111,184		$	807,575	$	310,159		$	(490,307	)	$	1,098,746
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,204			69,628		15,080			—			94,912
Operating expenses	—			258,162			40,115			622,643		32,137			(490,307		)	462,750
Selling, general and administrative	1,870			50,754			8,818			73,572		14,823			—			149,837
Depreciation and amortization	—			24			14,319			—		117,771			—			132,114
Loss on impairment / retirement of fixed assets, net	—			—			67			1,868		6,024			—			7,959
	1,870			308,940			73,523			767,711		185,835			(490,307		)	847,572
Operating income (loss)	83,051			(33,726		)	37,661			39,864		124,324			—			251,174
Interest (income) expense, net	16,519			13,031			17,637			37,539		(22,974		)	—			61,752
Net effect of swaps	(2,266		)	(3,485		)	—			—		—			—			(5,751		)
Loss on early debt extinguishment	—			187			—			886		—			—			1,073
Loss on foreign currency	—			36			11,988			—		—			—			12,024
Other (income) expense	186			(61,404		)	3,270			—		57,573			—			(375		)
Income from investment in affiliates	(89,426		)	(74,345		)	(21,578		)	—		(22,798		)	208,147			—
Income before taxes	158,038			92,254			26,344			1,439		112,523			(208,147		)	182,451
Provision for taxes	8,888			2,829			3,545			1,439		16,600			—			33,301
Net income	$	149,150		$	89,425		$	22,799		$	—	$	95,923		$	(208,147	)	$	149,150
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	5,990			—			5,990			—		—			(5,990		)	5,990
Unrealized gain on cash flow hedging derivatives	6,250			2,085			—			—		—			(2,085		)	6,250
Other comprehensive income (loss), (net of tax)	12,240			2,085			5,990			—		—			(8,075		)	12,240
Total comprehensive income	$	161,390		$	91,510		$	28,789		$	—	$	95,923		$	(216,222	)	$	161,390

33

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)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,672		$	262,739		$	114,141		$	788,737	$	322,763		$	(487,247	)	$	1,093,805
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,569			66,537		15,270			—			92,376
Operating expenses	—			248,047			37,701			616,134		32,744			(487,247		)	447,379
Selling, general and administrative	2,254			51,358			8,592			73,098		15,840			—			151,142
Depreciation and amortization	—			26			12,869			—		113,342			—			126,237
Loss on impairment / retirement of fixed assets, net	—			—			542			1,511		1,004			—			3,057
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	2,254			297,554			70,273			757,280		178,200			(487,247		)	818,314
Operating income (loss)	90,418			(34,815		)	43,868			31,457		144,563			—			275,491
Interest (income) expense, net	18,285			13,893			18,317			26,747		(15,169		)	—			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			1,754		164,649			(301,286		)	221,698
Provision (benefit) for taxes	8,917			(1,223		)	23,473			1,754		30,848			—			63,769
Net income	$	157,929		$	108,836		$	58,649		$	—	$	133,801		$	(301,286	)	$	157,929
Other comprehensive income (loss), (net of tax):
Cumulative 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

34

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	95,426		$	13,190		$	41,319		$	136,066		$	51,939		$	(3,506	)	$	334,434
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(31,877		)	—			(21,515		)	53,392			—
Capital expenditures	—			—			(16,355		)	(98,973		)	(30,388		)	—			(145,716		)
Net cash for investing activities	—			—			(48,232		)	(98,973		)	(51,903		)	53,392			(145,716		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394			(3,002		)	—			—			—			(53,392		)	—
Distributions paid to partners	(151,820		)	—			—			—			—			968			(150,852		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,200		)	—			—			(2,521		)
Exercise of limited partnership unit options	—			125			—			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(3,049		)	—			—			—			—			(3,049		)
Payments related to tax withholding for equity compensation	—			(6,943		)	—			—			—			—			(6,943		)
Net cash for financing activities	(95,426		)	(13,190		)	—			(2,200		)	—			(52,424		)	(163,240		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(967		)	—			—			—			(967		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	—			—			(7,880		)	34,893			36			(2,538		)	24,511
Balance, beginning of period	—			—			85,758			80,430			1,152			(1,095		)	166,245
Balance, end of period	$	—		$	—		$	77,878		$	115,323		$	1,188		$	(3,633	)	$	190,756

35

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)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	61,966		$	(3,954	)	$	40,125		$	103,553		$	124,035		$	(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
Capital expenditures	—			(25		)	(5,679		)	(125,726		)	(21,009		)	—			(152,439		)
Net cash from (for) investing activities	338,000			18,756			(5,679		)	(125,726		)	(122,699		)	(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			101,079			1,336			(1,669		)	127,230
Balance, beginning of period	—			—			65,563			57,825			353			(1,025		)	122,716
Balance, end of period	$	—		$	—		$	92,047		$	158,904		$	1,689		$	(2,694	)	$	249,946

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

Business Overview:

We generate our revenues from sales of (1) admission to our amusement parks and water parks, (2) food, merchandise and games both inside and outside our parks, and (3) accommodations, extra-charge products, and other revenue sources. Our principal costs and expenses, which include salaries and wages, operating supplies, maintenance, advertising, 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 of 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

•Revenue Recognition

• Income Taxes

We adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") effective January 1, 2018 using the modified retrospective method. The adoption of the standard did not have a material effect on the consolidated financial statements. Our accounting policy as a result of adopting ASU 2014-09 is discussed below. There were no other 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, 2017 during the third quarter of 2018.

Revenue Recognition and related receivables and contract liabilities

As disclosed within the consolidated statements of operations and comprehensive income, revenues are generated from sales of (1) admission to our amusement parks and water parks, (2) food, merchandise and games both inside and outside the parks, and (3) accommodations, extra-charge products, and other revenue sources. Admission revenues include amounts paid to gain admission into our parks, including parking fees. Revenues related to extra-charge products, including premium benefit offerings such as front-of-line products, and online advanced purchase transaction fees charged to customers are included in "Accommodations, extra-charge products and other". Due to our highly seasonal operations, a substantial portion of our revenues are generated during an approximate 130- to 140-day operating season. Most revenues are recognized on a daily basis based on actual guest spend at the properties. Revenues from multi-use products, including season-long products for admission, dining, beverage and other products, are recognized over the estimated number of uses expected for each type of product. The estimated number of uses is reviewed and may be updated periodically during the operating season prior to the ticket or product expiration, which generally occurs no later than the close of the operating season. The number of uses is estimated based on historical usage adjusted for current period trends. For any bundled products that include multiple performance obligations, revenue is allocated using the retail price of each distinct performance obligation and any inherent discounts are allocated based on the gross margin and expected redemption of each performance obligation. We do not typically provide for refunds or returns.

In some instances, we arrange with outside parties ("concessionaires") to provide goods to our guests, typically food and merchandise, and we act as an agent, resulting in net revenue recorded within the income statement. Concessionaire arrangement revenues are recognized over the operating season and are variable. Sponsorship revenues and marina revenues, which are classified as "Accommodations, extra-charge products and other" within the income statement, are recognized over the park operating season which represents the period in which the performance obligations are satisfied. Sponsorship revenues are typically fixed. However,

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some sponsorship revenues are variable based on achievement of specified operating metrics. We estimate variable revenues and perform a constraint analysis using both historical information and current trends to determine the amount of revenue that is not probable of a significant reversal. For additional information on our revenue recognition and related receivables and contract liabilities, see Note 1.

Income Taxes

The Tax Cuts and Jobs Act (the "Act") was signed into law on December 22, 2017. The Act makes significant changes to U.S. tax law and, among other things, reduces federal corporate tax rates from 35% to 21%. The accounting treatment of these tax law changes is complex, and the SEC staff issued Staff Accounting Bulletin No. 118 ("SAB 118") to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain tax effects of the Act. We recognized the provisional tax impacts related to the reduction in tax rates including the revaluation of deferred tax assets and liabilities in our consolidated financial statements for the year ended December 31, 2017. The ultimate impact may differ from these provisional amounts, possibly materially, due to, among other things, additional analysis, changes in interpretations and assumptions we have made, additional regulatory or accounting guidance that may be issued, and actions the Partnership may take as a result of the Act. We expect to complete our analysis of the effects of the Act within the measurement period in accordance with SAB 118.

Adjusted EBITDA:

We believe that Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, other non-cash items, and adjustments as defined in the Amended 2017 Credit Agreement and prior credit agreements) 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 23, 2018 and September 24, 2017.

	Three months ended						Nine months ended
(In thousands)	9/23/2018			9/24/2017			9/23/2018			9/24/2017
Net income	$	213,307		$	191,315		$	149,150		$	157,929
Interest expense	21,464			21,638			62,563			62,472
Interest income	(530		)	(351		)	(811		)	(399		)
Provision for taxes	38,770			73,747			33,301			63,769
Depreciation and amortization	74,374			70,060			132,114			126,237
EBITDA	347,385			356,409			376,317			410,008
Loss on early debt extinguishment	—			—			1,073			23,115
Net effect of swaps	(1,217		)	(952		)	(5,751		)	3,717
Non-cash foreign currency (gain) loss	(13,064		)	(29,156		)	12,026			(34,985		)
Non-cash equity compensation expense	1,906			3,126			8,054			9,728
Loss on impairment / retirement of fixed assets, net	3,247			1,347			7,959			3,057
Gain on sale of investment	—			(1,877		)	—			(1,877		)
Employment practice litigation costs	—			4,696			—			4,696
Other (1)	(120		)	49			(27		)	397
Adjusted EBITDA	$	338,137		$	333,642		$	399,651		$	417,856

(1) Consists of certain costs as defined in the Partnership's Amended 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.

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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, online advanced purchase transaction fees charged to customers 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 23, 2018

The fiscal nine-month period ended September 23, 2018 included a total of 1,710 operating days compared with 1,722 operating days for the fiscal nine-month period ended September 24, 2017. The following table presents key financial information for the nine months ended September 23, 2018 and September 24, 2017:

	Nine months ended			Nine months ended			Increase (Decrease)
	9/23/2018			9/24/2017			$			%
	(Amounts in thousands, except for per capita spending)
Net revenues	$	1,098,746		$	1,093,805		$	4,941		0.5	%
Operating costs and expenses	707,499			690,897			16,602			2.4	%
Depreciation and amortization	132,114			126,237			5,877			4.7	%
Loss on impairment / retirement of fixed assets, net	7,959			3,057			4,902			N/M
Gain on sale of investment	—			(1,877		)	1,877			N/M
Operating income	$	251,174		$	275,491		$	(24,317	)	(8.8	)%
N/M - Not meaningful
Other Data:
Adjusted EBITDA (1)	$	399,651		$	417,856		$	(18,205	)	(4.4	)%
Adjusted EBITDA margin (2)	36.4		%	38.2		%	—			(1.8	)%
Attendance	21,026			21,293			(267		)	(1.3	)%
In-park per capita spending	$	47.80		$	47.24		$	0.56		1.2	%
Out-of-park revenues	$	126,306		$	120,165		$	6,141		5.1	%

(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 38.

(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 23, 2018, net revenues increased by $4.9 million, to $1,098.7 million, from $1,093.8 million for the first nine months of 2017. This reflects a $6.1 million increase in out-of-park revenues and a $0.56 increase in in-park per capita spending offset by the impact of a 267,000-visit decrease in attendance. The increase in out-of-park revenues was attributable to increases in resort property revenues driven by higher occupancy rates and an increase in average daily room rates, particularly at Cedar Point. The increase in in-park per capita spending was attributable to higher revenues from our food and beverage programs, extra charge attractions and merchandise. The increase was somewhat offset by a decrease in admission spending due to a higher season pass attendance mix and the expansion of our free season pass program for guests aged 3 to 5 ("Pre-K pass") to three more parks in 2018 for a total of six properties. The decrease in attendance was driven by the impact of inclement weather at our seasonal amusement parks, a decline in season pass sales at Kings Island, and a delayed ride opening at California's Great America. The decrease in attendance largely occurred during the first seven months of 2018 and was partially offset by attendance growth in the months of August and September. The increase in net revenues was net of a $1.8 million unfavorable impact of foreign currency exchange related to our Canadian park.

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Operating costs and expenses for the nine months ended September 23, 2018 increased 2.4%, or $16.6 million, to $707.5 million from $690.9 million for the first nine months of 2017. The increase was the result of a $15.4 million increase in operating expenses and a $2.5 million increase in cost of goods sold offset by a $1.3 million decrease in SG&A expense. Operating expenses grew by $15.4 million primarily due to increased seasonal wages which were driven by planned hourly rate increases. The increase in operating expenses was also attributable to increased full-time and maintenance labor driven by both planned head count and rate increases, increased employee health benefit claims, and increased operating supplies for personnel related costs including associate housing. We expect to continue to see higher labor costs during the fourth quarter due to both mandated and market wage rate adjustments. The $2.5 million increase in cost of goods sold was primarily related to the growth in our food and beverage programs. Cost of goods sold as a percentage of food, merchandise, and games net revenue was comparable for both periods. The $1.3 million decrease in SG&A expense was primarily attributable to a prior year reserve established for an employment practice claim offset by increased technology related costs and higher merchant fees. The increase in operating costs and expenses was net of an $0.8 million favorable impact of foreign currency exchange related to our Canadian park.

Depreciation and amortization expense for the first nine months of 2018 increased $5.9 million compared with the same period in the prior year due to the change in the estimated useful life of a long-lived asset at Kings Island, as well as growth in capital improvements over the past several years. For the first nine months of 2018, the loss on impairment / retirement of fixed assets was $8.0 million compared with $3.1 million in the prior period. The increase was attributable to the retirement of a specific asset in the second quarter of 2018 and the impairment of two specific assets in the third quarter of 2018. 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 2018 decreased $24.3 million to $251.2 million compared with operating income of $275.5 million for the first nine months of 2017.

Interest expense for the first nine months of 2018 was comparable to the same period in the prior year. We recognized a $1.1 million loss on early debt extinguishment during the first quarter of 2018 in connection with amending our 2017 Credit Agreement, as compared to a $23.1 million loss on early debt extinguishment related to our refinancing in the first half of 2017, as described in Note 5. The net effect of our swaps resulted in a benefit to earnings of $5.8 million for the first nine months of 2018 compared with a $3.7 million charge to earnings for the comparable period in 2017. The difference reflects the change in fair market value movements in our swap portfolio offset by the amortization of amounts in OCI for our de-designated swaps. During the current period, we also recognized a $12.0 million net charge to earnings for foreign currency gains and losses compared with a $35.0 million net benefit to earnings for the comparable period in 2017. Both amounts primarily represent remeasurement of the U.S.-dollar denominated debt recorded at our Canadian entity from the applicable currency to the legal entity's functional currency.

During the first nine months of 2018, a provision for taxes of $33.3 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 first nine months of 2017 of $63.8 million. This decrease in provision for taxes relates to a decrease in pretax income from our corporate subsidiaries and the decrease in the federal statutory income tax rate resulting from the implementation of the 2017 Tax Cuts and Jobs Act.

After the items above, net income for the first nine months of 2018 totaled $149.2 million, or $2.63 per diluted limited partner unit, compared with net income of $157.9 million, or $2.79 per diluted limited partner unit, for the same period a year ago.

For the first nine months of 2018, Adjusted EBITDA decreased $18.2 million to $399.7 million from $417.9 million for the same period in 2017. The decrease in Adjusted EBITDA was attributable to lower attendance and to increased operating costs and expenses associated with labor, especially seasonal wages due to planned rate increases, operating supplies and other planned spending slightly offset by an increase in net revenues attributable to increased out-of-park revenues. Our Adjusted EBTIDA margin for the first nine months of 2018 decreased 180 basis points when compared to the same period in 2017 as a result of expense growth outpacing revenue growth.

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Three months ended September 23, 2018

The fiscal three-month period ended September 23, 2018 included a total of 956 operating days compared with 960 operating days for the fiscal three-month period ended September 24, 2017. The following table presents key financial information for the three months ended September 23, 2018 and September 24, 2017:

	Three months ended		Three months ended			Increase (Decrease)
	9/23/2018		9/24/2017			$			%
	(Amounts in thousands, except for per capita spending)
Net revenues	$	663,703	$	652,689		$	11,014		1.7	%
Operating costs and expenses	327,510		327,020			490			0.1	%
Depreciation and amortization	74,374		70,060			4,314			6.2	%
Loss on impairment / retirement of fixed assets, net	3,247		1,347			1,900			N/M
Gain on sale of investment	—		(1,877		)	1,877			N/M
Operating income	$	258,572	$	256,139		$	2,433		0.9	%
N/M - Not meaningful
Other Data:
Adjusted EBITDA (1)	$	338,137	$	333,642		$	4,495		1.3	%
Attendance	12,371		12,428			(57		)	(0.5	)%
In-park per capita spending	$	49.47	$	48.73		$	0.74		1.5	%
Out-of-park revenues	$	70,129	$	65,103		$	5,026		7.7	%

(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 38.

For the quarter ended September 23, 2018, net revenues increased by $11.0 million, to $663.7 million, from $652.7 million in the third quarter of 2017. This reflects a $0.74 increase in in-park per capita spending and a $5.0 million increase in out-of-park revenues partially offset by the impact of a 57,000-visit decrease in attendance. The increase in in-park per capita spending was attributable to higher revenues from our food and beverage programs, extra charge attractions and merchandise. This increase was somewhat offset by a decrease in admission spending due to the expansion of our Pre-K pass program to three more parks in 2018 for a total of six properties. The increase in out-of-park revenues was attributable to increases in resort property revenues driven by higher occupancy rates and an increase in average daily room rates, particularly at Cedar Point. The decrease in attendance was driven by less guest visitation in the month of July followed by attendance growth in the months of August and September compared to the same months in 2017. Inclement weather throughout July and the impact of Hurricane Florence in September contributed to the decline. The increase in net revenues was net of a $2.6 million unfavorable impact of foreign currency exchange related to our Canadian park.

Operating costs and expenses for the quarter were comparable to the prior quarter due to a $3.8 million increase in operating expenses and a $1.2 million increase in cost of goods sold offset by a $4.5 million decrease in SG&A expense. Operating expenses grew by $3.8 million primarily due to increased seasonal wages driven by planned hourly rate increases. The increase in operating expenses was also attributable to increased employee health benefit claims, and increased full-time and maintenance labor driven by both planned head count and rate increases. The $1.2 million increase in cost of goods sold was primarily related to the growth in our food and beverage programs. Cost of goods sold as a percentage of food, merchandise, and games net revenue was comparable to the prior quarter. The $4.5 million decrease in SG&A expense was primarily attributable to a prior year reserve established for an employment practice claim. The increase in operating costs and expenses was net of a $1.5 million favorable impact of foreign currency exchange related to our Canadian park.

Depreciation and amortization expense for the quarter increased $4.3 million compared with the same period in the prior year largely due to the change in the estimated useful life of a long-lived asset at Kings Island. For the third quarter of 2018, the loss on impairment / retirement of fixed assets was $3.2 million compared with $1.3 million in the prior period. The increase was attributable to the impairment of two specific assets in the third quarter of 2018. 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 third quarter of 2018 increased $2.4 million to $258.6 million compared with $256.1 million for the third quarter of 2017.

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Interest expense for the third quarter of 2018 was comparable to the same period in the prior year. The net effect of our swaps resulted in a benefit to earnings of $1.2 million for the third quarter of 2018 compared with a $1.0 million benefit to earnings in the third quarter of 2017. Both amounts reflect the change in fair market value movements in our swap portfolio offset by the amortization of amounts in OCI for our de-designated swaps. During the current quarter, we also recognized a $13.1 million net benefit to earnings for foreign currency gains and losses compared with a $29.2 million net benefit to earnings for the third quarter in 2017. Both amounts primarily represent remeasurement of the U.S.-dollar denominated debt recorded at our Canadian entity from the applicable currency to the legal entity's functional currency.

During the third quarter of 2018, a provision for taxes of $38.8 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 2017 of $73.7 million. This decrease in provision for taxes relates to the decrease in the federal statutory income tax rate resulting from the implementation of the 2017 Tax Cuts and Jobs Act and a decrease in pretax income from our corporate subsidiaries.

After the items above, net income for the current quarter totaled $213.3 million, or $3.76 per diluted limited partner unit, compared with net income of $191.3 million, or $3.38 per diluted limited partner unit, for the third quarter a year ago.

For the current quarter, our Adjusted EBITDA increased $4.5 million to $338.1 million from $333.6 million for the same period in 2017. The increase in Adjusted EBITDA was attributable to an increase in net revenues due to increased in-park per capita spending and out-of-park revenues combined with comparable operating costs and expenses.

October 2018

Based on preliminary results, net revenues for the ten months ended October 28, 2018 were up approximately $9 million, or 1%, to $1.25 billion when compared with the ten months ended October 29, 2017. The increase was the result of a 1% increase in in-park per capita spending and a 5% increase in out-of-park revenues, offset slightly by a 1% decline in attendance compared with the prior period.

Liquidity and Capital Resources:

With respect to both liquidity and cash flow, we ended the third quarter of 2018 in sound condition. The working capital ratio (current assets divided by current liabilities) of 1.1 as of September 23, 2018 is the result of normal seasonal activity. Receivables, inventories and payables are at normal seasonal levels. There was a $59.2 million decrease in cash and cash equivalents as of September 23, 2018 compared with the balance as of September 24, 2017. The net cash proceeds from our debt refinancing in the first nine months of 2017 significantly impacted the change in cash position.

Operating Activities

During the nine-month period ended September 23, 2018, net cash from operating activities was $334.4 million, an increase of $11.8 million compared with the same period a year ago.

Investing Activities

Net cash for investing activities for the first nine months of 2018 was $145.7 million, a decrease of $3.4 million compared with the same period in the prior year. This decrease reflects less planned capital expenditures in the current period offset by prior period proceeds from the sale of a preferred equity investment in a non-public entity.

Financing Activities

Net cash for financing activities for the first nine months of 2018 was $163.2 million, an increase of $111.1 million compared with the same period in the prior year. This increase is primarily due to incremental term debt borrowings in the prior year from the April 2017 refinancing.

As of September 23, 2018, our outstanding debt, before reduction for debt issuance costs and original issue discount, 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.

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• $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 Amended 2017 Credit Agreement. The term debt bears interest at the London InterBank Offering Rate ("LIBOR") plus 175 basis points (bps), under amendments we entered into on March 14, 2018. The pricing terms for the amendment reflected $0.9 million of Original Issue Discount ("OID"). The term loan amortizes $7.5 million annually. We have $3.8 million of current maturities as of September 23, 2018.

• No borrowings under the $275 million senior secured revolving credit facility under our Amended 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 Amended 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 $15.4 million as of September 23, 2018, we had $259.6 million of available borrowings under the revolving credit facility and cash on hand of $190.8 million.

As of September 23, 2018, we have eight interest rate swap agreements that convert $500 million of variable-rate debt to a fixed rate. Four of these agreements fix our variable-rate debt at 4.39% and mature on December 31, 2020. The other four fix our variable-rate debt at 4.63% for the period December 31, 2020 through December 31, 2023. None of the interest rate swap agreements are designated as cash flow hedges. As of September 23, 2018, the fair market value of our derivatives was $4.1 million and was recorded in "Other Assets".

The Amended 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 23, 2018, we were in compliance with this financial condition covenant and all other financial covenants under the Amended 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 we can make additional Restricted Payments if our pro forma Total-Indebtedness-to-Consolidated-Cash-Flow Ratio is less than or equal to 5.00x.

In accordance with the Amended 2017 Credit Agreement debt provisions, on August 1, 2018, we announced the declaration of a distribution of $0.89 per limited partner unit, which was paid on September 17, 2018. Also, on October 30, 2018, we announced the declaration of a distribution of $0.925 per limited partner unit, which will be payable on December 17, 2018.

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 $15.4 million in letters of credit, which are primarily in place to backstop insurance arrangements, outstanding on our revolving credit facility as of September 23, 2018. 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. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the filing date of this document.

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.

None of our interest rate swap agreements are designated as hedging instruments. Changes in fair value of derivative instruments that do not qualify for hedge accounting or were de-designated are reported as "Net effect of swaps" in the unaudited condensed consolidated statements of operations and comprehensive income. Additionally, the "Other comprehensive income (loss)" related to interest rate swaps that have been de-designated is amortized through the original maturity of the interest rate swap and reported as a component of "Net effect of swaps" in the unaudited condensed consolidated statements of operations and comprehensive income.

As of September 23, 2018, on an adjusted basis after giving affect to the impact of interest rate swap agreements, $1,450 million of our outstanding long-term debt represented fixed-rate debt and $235 million represented variable-rate debt. Assuming an average balance on our revolving credit borrowings of approximately $13.2 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 $7.5 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 $3.4 million decrease in annual operating income.

44

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 23, 2018, 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 23, 2018.

(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 23, 2018 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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 expected to occur in the fourth quarter of 2018. Based upon the information available, the Partnership believes the liability recorded as of September 23, 2018 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, 2017.

ITEM 6. EXHIBITS

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 23, 2018 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.

45

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:	October 30, 2018	/s/ Richard A. Zimmerman
		Richard A. Zimmerman
		President and Chief Executive Officer
Date:	October 30, 2018	/s/ Brian C. Witherow
		Brian C. Witherow
		Executive Vice President and
		Chief Financial Officer

46

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Richard A. Zimmerman, 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:	October 30, 2018	/s/ Richard A. Zimmerman
		Richard A. Zimmerman
		President and 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:	October 30, 2018	/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 23, 2018, 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.

October 30, 2018

/s/ Richard A. Zimmerman

Richard A. Zimmerman

President and 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.

XML

Document and Entity Information - shares	9 Months Ended
	Sep. 23, 2018	Oct. 26, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 23, 2018
Document Fiscal Year Focus	2018
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		56,440,459
Entity Emerging Growth Company	false
Entity Small Business	false

XML

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017
Current Assets:
Cash and cash equivalents	$ 190,756	$ 166,245	$ 249,946
Receivables	58,398	37,722	52,303
Inventories	36,549	29,719	34,240
Other current assets	21,875	13,297	18,624
Total current assets	307,578	246,983	355,113
Property and Equipment:
Land	272,186	271,021	272,213
Land improvements	435,513	421,593	416,629
Buildings	729,108	693,899	707,964
Rides and equipment	1,817,601	1,740,653	1,740,826
Construction in progress	61,474	72,847	57,605
Total property and equipment, gross	3,315,882	3,200,013	3,195,237
Less accumulated depreciation	(1,727,183)	(1,614,241)	(1,614,727)
Total property and equipment, net	1,588,699	1,585,772	1,580,510
Goodwill	182,004	183,830	185,010
Other Intangibles, net	37,131	38,064	38,532
Other Assets	13,536	9,510	17,407
Total Assets	2,128,948	2,064,159	2,176,572
Current Liabilities:
Current maturities of long-term debt	3,750	0	0
Accounts payable	32,989	24,621	33,710
Deferred revenue	102,326	86,131	83,340
Accrued interest	21,893	8,124	23,928
Accrued taxes	48,372	43,975	78,657
Accrued salaries, wages and benefits	30,578	18,740	30,666
Self-insurance reserves	25,923	25,107	27,549
Other accrued liabilities	22,232	18,796	20,562
Total current liabilities	288,063	225,494	298,412
Deferred Tax Liability	74,637	74,798	112,671
Derivative Liability	0	8,722	14,849
Other Liabilities	16,292	11,684	15,732
Long-Term Debt:
Term debt	720,846	723,788	723,385
Notes	937,440	936,727	936,241
Total long-term debt	1,658,286	1,660,515	1,659,626
Partners’ Equity:
Special L.P. interests	5,290	5,290	5,290
General partner	0	0	0
Limited partners, 56,441, 56,359 and 56,238 units outstanding as of September 23, 2018, December 31, 2017 and September 24, 2017, respectively	78,464	81,589	74,155
Accumulated other comprehensive income (loss)	7,916	(3,933)	(4,163)
Total partners' equity	91,670	82,946	75,282
Total Liabilities and Partners' Equity	$ 2,128,948	$ 2,064,159	$ 2,176,572

XML

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - shares shares in Thousands	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017
Statement of Financial Position [Abstract]
Limited partners, units outstanding (in shares)	56,441	56,359	56,238

XML

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017
Net revenues:
Revenue	$ 663,703	$ 652,689	$ 1,098,746	$ 1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	53,891	52,647	94,912	92,376
Operating expenses	206,505	202,710	462,750	447,379
Selling, general and administrative	67,114	71,663	149,837	151,142
Depreciation and amortization	74,374	70,060	132,114	126,237
Loss on impairment / retirement of fixed assets, net	3,247	1,347	7,959	3,057
Gain on sale of investment	0	1,877	0	1,877
Total costs and expenses	405,131	396,550	847,572	818,314
Operating income	258,572	256,139	251,174	275,491
Interest expense	21,464	21,638	62,563	62,472
Net effect of swaps	(1,217)	(952)	(5,751)	3,717
Loss on early debt extinguishment	0	0	1,073	23,115
Loss (gain) on foreign currency	(13,054)	(29,193)	12,024	(35,047)
Other income	(698)	(416)	(1,186)	(464)
Income before taxes	252,077	265,062	182,451	221,698
Provision for taxes	38,770	73,747	33,301	63,769
Net income	213,307	191,315	149,150	157,929
Net income allocated to general partner	3	1	2	1
Net income allocated to limited partners	213,304	191,314	149,148	157,928
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	2,116	1,994	6,250	5,981
Other comprehensive income (loss), (net of tax)	(3,160)	(9,149)	12,240	(7,104)
Total comprehensive income	$ 210,147	$ 182,166	$ 161,390	$ 150,825
Basic income per limited partner unit:
Weighted average limited partner units outstanding (in shares)	56,231	56,078	56,205	56,062
Net income (loss) per limited partner unit (in dollars per share)	$ 3.79	$ 3.41	$ 2.65	$ 2.82
Diluted income per limited partner unit:
Weighted average limited partner units outstanding (in shares)	56,696	56,591	56,753	56,631
Net income (loss) per limited partner unit (in dollars per share)	$ 3.76	$ 3.38	$ 2.63	$ 2.79
Admission [Member]
Net revenues:
Revenue	$ 358,923	$ 361,279	$ 590,091	$ 598,723
Food, Merchandise and Gaming [Member]
Net revenues:
Revenue	210,426	205,137	361,428	356,512
Accommodations, Extra-Charge Products and Other [Member]
Net revenues:
Revenue	$ 94,354	$ 86,273	$ 147,227	$ 138,570

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							$ (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		$ 52,288	$ 0			$ 18,891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 157,929	157,928
Partnership distribution declared ($2.67 and $2.565 per limited partnership unit)		(144,516)
Reclassification of stranded tax effect		0					0
Exercise of limited partnership unit options	0	0
Tax effect of units involved in treasury unit transactions		(2,560)
Issuance of limited partnership units as compensation		11,015
Net income (loss)			1
Partnership distribution declared			(1)
Period activity, net of tax $1,247 and $0	(13,085)					(13,085)
Period activity, net of tax ($845) and ($1,113)	5,981						5,981
Ending balance, value at Sep. 24, 2017	75,282	$ 74,155	0	$ 5,290	$ (4,163)	5,806	(9,969)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on cash flow hedging derivatives: Beginning balance							(7,975)
Beginning balance, units (in shares) at Dec. 31, 2017		56,359
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Limited partnership unit options exercised (in shares)		6
Limited partnership unit forfeitures (in shares)		(2)
Issuance of limited partnership units as compensation (in shares)		78
Ending balance, units (in shares) at Sep. 23, 2018		56,441
Beginning balance, value at Dec. 31, 2017	82,946	$ 81,589	0			4,042
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	149,150	149,148
Partnership distribution declared ($2.67 and $2.565 per limited partnership unit)		(150,850)
Reclassification of stranded tax effect		391					(391)
Exercise of limited partnership unit options	125	(125)
Tax effect of units involved in treasury unit transactions		(3,049)
Issuance of limited partnership units as compensation		1,110
Net income (loss)			2
Partnership distribution declared			(2)
Period activity, net of tax $1,247 and $0	5,990					5,990
Period activity, net of tax ($845) and ($1,113)	6,250						6,250
Ending balance, value at Sep. 23, 2018	$ 91,670	$ 78,464	$ 0	$ 5,290	$ 7,916	$ 10,032	$ (2,116)

XML

Unaudited Condensed Consolidated Statements of Partners' Equity (Parenthetical) - USD ($)	9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017
Statement of Partners' Capital [Abstract]
Foreign currency translation adjustment, tax	$ 1,247,000	$ 0
Unrealized loss on cash flow hedging derivatives, tax	(845,000)	(1,113,000)
Distribution Made to Limited Partner, Cash Distributions Paid	$ 2.67	$ 2.565

XML

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 149,150	$ 157,929
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	132,114	126,237
Loss on early debt extinguishment	1,073	23,115
Non-cash foreign currency loss (gain) on debt	13,093	(39,296)
Other non-cash expenses	8,512	26,942
Net change in working capital	25,788	24,244
Net change in other assets/liabilities	4,704	3,447
Net cash from operating activities	334,434	322,618
CASH FLOWS FOR INVESTING ACTIVITIES
Capital expenditures	(145,716)	(152,439)
Proceeds from sale of investment	0	3,281
Net cash for investing activities	(145,716)	(149,158)
CASH FLOWS FOR FINANCING ACTIVITIES
Term debt borrowings	0	750,000
Note borrowings	0	500,000
Term debt payments	0	(617,850)
Note payments, including amounts paid for early termination	0	(515,458)
Distributions paid to partners	(150,852)	(144,517)
Payment of debt issuance costs and original issue discount	(2,521)	(19,684)
Exercise of limited partnership unit options	125	0
Tax effect of units involved in treasury unit transactions	(3,049)	(2,560)
Payments related to tax withholding for equity compensation	(6,943)	(2,053)
Net cash for financing activities	(163,240)	(52,122)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(967)	5,892
CASH AND CASH EQUIVALENTS
Net increase for the period	24,511	127,230
Balance, beginning of period	166,245	122,716
Balance, end of period	190,756	249,946
SUPPLEMENTAL INFORMATION
Cash payments for interest expense	48,128	48,729
Interest capitalized	2,173	1,770
Cash payments for income taxes, net of refunds	35,403	44,090
Capital expenditures in accounts payable	$ 4,333	$ 5,582

XML

Significant Accounting and Reporting Policies

9 Months Ended

Sep. 23, 2018

Accounting Policies [Abstract]

Significant Accounting and Reporting Policies

Significant Accounting and Reporting Policies:

Except for the changes described below, the Partnership’s unaudited condensed consolidated financial statements for the periods ended September 23, 2018 and September 24, 2017 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, 2017, which were included in the Form 10-K filed on February 23, 2018. 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.

The Partnership adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09") effective January 1, 2018 using the modified retrospective method. The adoption of the standard did not have a material effect on the consolidated financial statements. The Partnership's accounting policy as a result of adopting ASU 2014-09 is discussed below:

Revenue Recognition and related receivables and contract liabilities

As disclosed within the consolidated statements of operations and comprehensive income, revenues are generated from sales of (1) admission to the Partnership's amusement parks and water parks, (2) food, merchandise and games both inside and outside the parks, and (3) accommodations, extra-charge products, and other revenue sources. Admission revenues include amounts paid to gain admission into the Partnership's parks, including parking fees. Revenues related to extra-charge products, including premium benefit offerings such as front-of-line products, and online advanced purchase transaction fees charged to customers are included in "Accommodations, extra-charge products and other". Due to the Partnership's highly seasonal operations, a substantial portion of the Partnership's revenues are generated during an approximate 130- to 140-day operating season. Most revenues are recognized on a daily basis based on actual guest spend at the properties. Revenues from multi-use products, including season-long products for admission, dining, beverage and other products, are recognized over the estimated number of uses expected for each type of product. The estimated number of uses is reviewed and may be updated periodically during the operating season prior to the ticket or product expiration, which generally occurs no later than the close of the operating season. The number of uses is estimated based on historical usage adjusted for current period trends. For any bundled products that include multiple performance obligations, revenue is allocated using the retail price of each distinct performance obligation and any inherent discounts are allocated based on the gross margin and expected redemption of each performance obligation. The Partnership does not typically provide for refunds or returns.

In some instances, the Partnership arranges with outside parties ("concessionaires") to provide goods to guests, typically food and merchandise, and the Partnership acts as an agent, resulting in net revenue recorded within the income statement. Concessionaire arrangement revenues are recognized over the operating season and are variable. Sponsorship revenues and marina revenues, which are classified as "Accommodations, extra-charge products and other" within the income statement, are recognized over the park operating season which represents the period in which the performance obligations are satisfied. Sponsorship revenues are typically fixed. However, some sponsorship revenues are variable based on achievement of specified operating metrics. The Partnership estimates variable revenues and performs a constraint analysis using both historical information and current trends to determine the amount of revenue that is not probable of a significant reversal.

Many products, including season-long products, are sold to customers in advance, resulting in a contract liability ("deferred revenue"). Deferred revenue is at its highest immediately prior to the peak summer season, and at its lowest in the fall after the peak summer season and at the beginning of the selling season for the next year's products. Season-long products represent the majority of the deferred revenue balance in any given period.

Of the $86.1 million of deferred revenue recorded as of January 1, 2018, 88% was related to season-long products. The remainder was related to deferred online advanced purchase transaction fees charged to customers, advanced ticket sales, marina deposits, advanced resort reservations, and other deferred revenue. Most deferred revenue outstanding as of January 1, 2018 will be recognized by December 31, 2018 with the exception of an immaterial amount of deferred revenue for prepaid products such as gift cards and prepaid games cards. During the nine months ended September 23, 2018, approximately $70.8 million of the deferred revenue balance as of January 1, 2018 was recognized. The difference in the opening and closing balances of the Partnership's deferred revenue balance in the current period was attributable to additional season-long product sales during the current year for both the 2018 and 2019 operating seasons, offset by revenue recognized during the first nine months of 2018.

Payment is due immediately on the transaction date for most products. The Partnership's receivable balance includes outstanding amounts on installment purchase plans which are offered for season-long products (and other select products for specific time periods), and includes sales to retailers, group sales and catering activities which are billed. Installment purchase plans vary in length from three monthly installments to twelve monthly installments. Payment terms for billings are typically net 30 days. Receivables are highest in the peak summer months and the lowest in the winter months. The Partnership is not exposed to a significant concentration of customer credit risk. As of September 23, 2018, December 31, 2017 and September 24, 2017, the Partnership recorded a $10.7 million, $2.2 million and $10.6 million allowance for doubtful accounts, respectively, representing estimated defaults on installment purchase plans. The default estimate is calculated using the historical default rate adjusted for current period trends. The allowance for doubtful accounts is recorded as a reduction of deferred revenue to the extent revenue has not been recognized on the corresponding season-long products.

Most deferred revenue from contracts with customers is classified as current within the balance sheet. However, a portion of deferred revenue from contracts with customers is classified as non-current during the third quarter related to season-long products sold in the current season for use in the subsequent season. Season-long products are sold beginning in August of the year preceding the operating season. Season-long products may be recognized 12 to 16 months after purchase depending on the date of sale. The Partnership estimates the number of uses expected outside of the next twelve months for each type of product and classifies the related deferred revenue as non-current.

With the exception of the non-current deferred revenue described above, the Partnership's contracts with customers have an original duration of one year or less. For these short-term contracts, the Partnership uses the practical expedient, a relief provided in the accounting standard to simplify compliance, applicable to such contracts and has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue. Further, the Partnership has elected to recognize incremental costs of obtaining a contract as an expense when incurred as the amortization period of the asset would be less than one year. Lastly, the Partnership has elected not to adjust consideration for the effects of significant financing components in the form of installment purchase plans as the period between when the entity transfers the promised service to the customer and when the customer pays for that service does not exceed one year.

New Accounting Pronouncements

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. The ASU can be adopted using either the modified retrospective approach, which requires application of the new standard at the beginning of the earliest comparative period presented, or the comparative reporting approach allowable under ASU 2018-11, which requires application of the new standard at the adoption date. The Partnership expects to adopt this standard in the first quarter of 2019 using the comparative reporting approach. 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.

Other Adopted Accounting Pronouncements

In February 2018, the FASB issued Accounting Standards Update No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Comprehensive Income ("ASU 2018-02"). The ASU allows a reclassification from accumulated other comprehensive income to retained earnings of stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU 2018-02 is effective for fiscal years after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, and the amendments can be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Partnership elected to adopt ASU 2018-02 in the first quarter of 2018. The amendment was applied in the period of adoption and resulted in a $0.4 million reclassification from accumulated other comprehensive income to limited partners' equity during the first quarter ended March 25, 2018.

In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract ("ASU 2018-15"). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. ASU 2018-15 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. The Partnership has adopted this standard in the third quarter of 2018 using the prospective method. The Partnership anticipates the standard to lengthen the timing of expense recognition associated with upcoming cloud-based projects.

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Interim Reporting

9 Months Ended

Sep. 23, 2018

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 four 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 for Halloween events. 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. Five of the seasonal properties are open an additional 20 to 25 days to include WinterFest, a holiday event operating during November and December showcasing holiday shows and festivities. 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 from multi-use products are recognized over the estimated number of uses expected for each type of product; and the estimated number of uses is reviewed and may be updated periodically during the operating season prior to the ticket or product expiration, which generally 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. 23, 2018

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.

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. In the fourth quarter of 2017, the Partnership recorded a $7.6 million impairment charge based on information from ongoing marketing activities. The amount was recorded in "Loss on impairment / retirement of fixed assets, net" in the consolidated statement of operations and comprehensive income. 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 ($9.0 million as of September 23, 2018, $9.0 million as of December 31, 2017 and $16.5 million as of September 24, 2017).

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Goodwill and Other Intangible Assets

9 Months Ended

Sep. 23, 2018

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 23, 2018, 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 23, 2018 and September 24, 2017 is as follows:

(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance as of December 31, 2017	$	263,698		$	(79,868	)	$	183,830
Foreign currency translation	(1,826		)	—			(1,826		)
Balance as of September 23, 2018	$	261,872		$	(79,868	)	$	182,004
Balance as of December 31, 2016	$	259,528		$	(79,868	)	$	179,660
Foreign currency translation	5,350			—			5,350
Balance as of September 24, 2017	$	264,878		$	(79,868	)	$	185,010

As of September 23, 2018, December 31, 2017, and September 24, 2017, the Partnership’s other intangible assets consisted of the following:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
September 23, 2018
Other intangible assets:
Trade names	$	36,125	$	—		$	36,125
License / franchise agreements	3,351		(2,345		)	1,006
Total other intangible assets	$	39,476	$	(2,345	)	$	37,131
December 31, 2017
Other intangible assets:
Trade names	$	36,531	$	—		$	36,531
License / franchise agreements	3,360		(1,827		)	1,533
Total other intangible assets	$	39,891	$	(1,827	)	$	38,064
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

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. 23, 2018

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt:

Long-term debt as of September 23, 2018, December 31, 2017, and September 24, 2017 consisted of the following:

(In thousands)	September 23, 2018			December 31, 2017			September 24, 2017
Term debt (1)
April 2017 U.S. term loan averaging 3.59% (due 2017-2024)	$	735,000		$	735,000		$	735,000
Notes
April 2017 U.S. fixed rate notes at 5.375% (due 2027)	500,000			500,000			500,000
June 2014 U.S. fixed rate notes at 5.375% (due 2024)	450,000			450,000			450,000
	1,685,000			1,685,000			1,685,000
Less current portion	(3,750		)	—			—
	1,681,250			1,685,000			1,685,000
Less debt issuance costs and original issue discount	(22,964		)	(24,485		)	(25,374		)
	$	1,658,286		$	1,660,515		$	1,659,626

(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 $7.7 million and debt premium payments of $15.5 million. Accordingly, the Partnership recorded a loss on early debt extinguishment of $23.1 million during 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 2017 Credit Agreement was amended on March 14, 2018 (subsequently referred to as the "Amended 2017 Credit Agreement"). Specifically, the interest rate for the senior secured term loan facility was amended to London InterBank Offered Rate ("LIBOR") plus 175 basis points (bps). The pricing terms for the amendment reflected $0.9 million of Original Issue Discount ("OID") and resulted in the write-off of debt issuance costs of $1.1 million which was recorded as a loss on early debt extinguishment during the first quarter of 2018. The senior secured term loan facility matures April 15, 2024 and amortizes at $7.5 million annually. The facilities provided under the Amended 2017 Credit Agreement are collateralized by substantially all of the assets of the Partnership.

The senior secured revolving credit facility under the Amended 2017 Credit Agreement has a combined limit of $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 Amended 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"). The 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 Amended 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 23, 2018, the Partnership was in compliance with this financial condition covenant and all other financial covenants under the Amended 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 can make additional Restricted Payments if the Partnership's pro forma Total-Indebtedness-to-Consolidated-Cash-Flow Ratio is 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. 23, 2018

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.

During the first quarter of 2016, the Partnership amended its four interest rate swap agreements to extend each of the maturities to December 31, 2020 and convert $500 million of variable-rate debt to a rate of 4.39%. During the second quarter of 2018, the Partnership entered into four additional interest rate swap agreements that convert the same notional amount to a rate of 4.63% for the period December 31, 2020 through December 31, 2023. None of the interest rate swap agreements are designated as hedging instruments. The fair market value of the swap portfolio was recorded on the unaudited condensed consolidated balance sheets within "Other Assets" as of September 23, 2018 and within "Derivative Liability" as of December 31, 2017 and September 24, 2017 as follows:

(In thousands)	September 23, 2018		December 31, 2017			September 24, 2017
Derivatives not designated as hedging instruments:
Interest rate swaps	$	4,123	$	(8,722	)	$	(14,849	)

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 is 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 for these agreements are being amortized into earnings through the original December 31, 2018 maturity. As of September 23, 2018, approximately $2.4 million of losses remain in AOCI related to the effective cash flow hedge contracts prior to de-designation, all of which will be reclassified to earnings by December 31, 2018.

The (gains) losses recognized in income on derivatives not designated as cash flow hedges were recorded in "Net effect of swaps" within the income statement for the periods presented as follows:

	Three months ended						Nine months ended
(In thousands)	September 23, 2018			September 24, 2017			September 23, 2018			September 24, 2017
Change in fair market value	$	(3,581	)	$	(3,318	)	$	(12,845	)	$	(3,378	)
Amortization of amounts in AOCI	2,364			2,366			7,094			7,095
Net effect of swaps	$	(1,217	)	$	(952	)	$	(5,751	)	$	3,717

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Fair Value Measurements

9 Months Ended

Sep. 23, 2018

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 23, 2018, December 31, 2017, and September 24, 2017 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 23, 2018						December 31, 2017						September 24, 2017
			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	$	1,081		$	1,081		$	736		$	736		$	688		$	688
Interest rate swaps	Other Assets (Derivative Liability)	Level 2	$	4,123		$	4,123		$	(8,722	)	$	(8,722	)	$	(14,849	)	$	(14,849	)
Other financial assets (liabilities):
April 2017 term debt	Long-Term Debt (1)	Level 2	$	(731,250	)	$	(734,906	)	$	(735,000	)	$	(742,350	)	$	(735,000	)	$	(740,513	)
June 2014 notes	Long-Term Debt (1)	Level 1	$	(450,000	)	$	(450,000	)	$	(450,000	)	$	(469,125	)	$	(450,000	)	$	(472,500	)
April 2017 notes	Long-Term Debt (1)	Level 1(2)	$	(500,000	)	$	(485,000	)	$	(500,000	)	$	(525,000	)	$	(500,000	)	$	(527,500	)

(1) Carrying values of long-term debt balances are before reductions for debt issuance costs and original issue discount of $23.0 million, $24.5 million, and $25.4 million as of September 23, 2018, December 31, 2017, and September 24, 2017, respectively.

(2) The April 2017 notes were based on Level 1 inputs as of September 23, 2018 and Level 2 inputs as of December 31, 2017 and September 24, 2017.

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.

As of December 31, 2017, the Partnership measured the remaining land at Wildwater Kingdom, one of the Partnership's separately gated outdoor water parks which ceased operations in 2016, at fair value less cost to sell based on Level 3 unobservable market input. In the fourth quarter of 2017, the Partnership recorded a $7.6 million impairment charge based on information from ongoing marketing activities. This amount was recorded in "Loss on impairment / retirement of fixed assets, net" in the consolidated statement of operations and comprehensive income.

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 23, 2018 or September 24, 2017.

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Earnings per Unit

9 Months Ended

Sep. 23, 2018

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
	9/23/2018		9/24/2017		9/23/2018		9/24/2017
	(In thousands, except per unit amounts)
Basic weighted average units outstanding	56,231		56,078		56,205		56,062
Effect of dilutive units:
Deferred units	46		44		46		41
Performance units	—		—		49		48
Restricted units	277		284		289		292
Unit options	142		185		164		188
Diluted weighted average units outstanding	56,696		56,591		56,753		56,631
Net income per unit - basic	$	3.79	$	3.41	$	2.65	$	2.82
Net income per unit - diluted	$	3.76	$	3.38	$	2.63	$	2.79

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Income and Partnership Taxes

9 Months Ended

Sep. 23, 2018

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 2018, the Partnership has recorded $0.5 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.

On December 22, 2017, the Tax Cuts and Jobs Act (the "Act"), was signed into law.  The Act includes numerous tax law changes, including a reduction in the federal corporate income tax rate from 35% to 21%.  The change in tax rates necessitated the remeasurement of deferred tax balances that are expected to reverse following enactment using the applicable tax rates.  As a result of the remeasurement of the net deferred tax liability, the Partnership realized a $49.2 million deferred tax benefit during the fourth quarter of 2017.  The amounts recorded to reflect the effects of the Act were and remain provisional and are subject to change in accordance with SAB 118.  The Partnership expects to complete these calculations and record the final effects of the Act before the end of the fourth quarter of 2018.

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Contingencies

9 Months Ended

Sep. 23, 2018

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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Changes in Accumulated Other Comprehensive Income by Component

9 Months Ended

Sep. 23, 2018

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 (loss) related to limited partners' equity for the three months ended September 23, 2018 and September 24, 2017:

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of June 24, 2018	$	(4,232	)	$	15,308		$	11,076
Other comprehensive income before reclassifications, net of tax ($1,055)	—			(5,276		)	(5,276		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($249)	2,116			—			2,116
Net other comprehensive income (loss)	2,116			(5,276		)	(3,160		)
Balance as of September 23, 2018	$	(2,116	)	$	10,032		$	7,916

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of 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)	1,994			—			1,994
Net other comprehensive income (loss)	1,994			(11,143		)	(9,149		)
Balance as of September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

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 9/23/2018			Three months ended 9/24/2017
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(249		)	(371		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	2,116		$	1,994		Net of tax

The following tables reflect the changes in accumulated other comprehensive income (loss) related to limited partners' equity for the nine months ended September 23, 2018 and September 24, 2017:

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation		Total
Balance as of December 31, 2017	$	(7,975	)	$	4,042	$	(3,933	)
Other comprehensive income before reclassifications, net of tax $1,247	—			5,990		5,990
Amounts reclassified from accumulated other comprehensive income, net of tax ($845)	6,250			—		6,250
Net other comprehensive income (loss)	6,250			5,990		12,240
Reclassification of stranded tax effect	(391		)	—		(391		)
Balance as of September 23, 2018	$	(2,116	)	$	10,032	$	7,916

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of 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)	5,981			—			5,981
Net other comprehensive income (loss)	5,981			(13,085		)	(7,104		)
Balance as of September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

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 9/23/2018			Nine months ended 9/24/2017
Interest rate contracts	$	7,095		$	7,094		Net effect of swaps
Provision for taxes	(845		)	(1,113		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	6,250		$	5,981		Net of tax

XML

Consolidating Financial Information of Guarantors and Issuers

9 Months Ended

Sep. 23, 2018

Condensed Consolidated Financial Information [Abstract]

Consolidating Financial Information of Guarantors and Issuers

Consolidating Financial Information of Guarantors and Issuers of June 2014 Notes:

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 23, 2018, December 31, 2017, and September 24, 2017 and for the three- and nine-month periods ended September 23, 2018 and September 24, 2017. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the accompanying unaudited condensed consolidating financial statements have been included.

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 23, 2018

(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	$	—	$	—	$	77,878	$	116,511	$	(3,633	)	$	190,756
Receivables	—		991		47,193		895,263		(885,049		)	58,398
Inventories	—		—		2,260		34,289		—			36,549
Other current assets	293		1,170		3,594		19,546		(2,728		)	21,875
	293		2,161		130,925		1,065,609		(891,410		)	307,578
Property and Equipment, net	—		811		178,522		1,409,366		—			1,588,699
Investment in Park	648,414		1,205,086		259,710		246,968		(2,360,178		)	—
Goodwill	674		—		61,725		119,605		—			182,004
Other Intangibles, net	—		—		13,763		23,368		—			37,131
Deferred Tax Asset	—		19,870		—		—		(19,870		)	—
Other Assets	1,197		2,926		39		9,374		—			13,536
	$	650,578	$	1,230,854	$	644,684	$	2,874,290	$	(3,271,458	)	$	2,128,948
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	656	$	—	$	3,094	$	—		$	3,750
Accounts payable	553,952		334,696		2,868		30,155		(888,682		)	32,989
Deferred revenue	—		—		9,397		92,929		—			102,326
Accrued interest	113		75		7,601		14,104		—			21,893
Accrued taxes	1,551		38,538		—		11,011		(2,728		)	48,372
Accrued salaries, wages and benefits	—		28,162		2,416		—		—			30,578
Self-insurance reserves	—		10,459		1,635		13,829		—			25,923
Other accrued liabilities	3,292		6,796		585		11,559		—			22,232
	558,908		419,382		24,502		176,681		(891,410		)	288,063
Deferred Tax Liability	—		—		12,562		81,945		(19,870		)	74,637
Other Liabilities	—		968		390		14,934		—			16,292
Long-Term Debt:
Term debt	—		126,800		—		594,046		—			720,846
Notes	—		—		445,846		491,594		—			937,440
	—		126,800		445,846		1,085,640		—			1,658,286
Equity	91,670		683,704		161,384		1,515,090		(2,360,178		)	91,670
	$	650,578	$	1,230,854	$	644,684	$	2,874,290	$	(3,271,458	)	$	2,128,948

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 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	$	—	$	—	$	85,758	$	81,582	$	(1,095	)	$	166,245
Receivables	—		1,184		15,574		857,205		(836,241		)	37,722
Inventories	—		—		1,891		27,828		—			29,719
Other current assets	164		28,297		3,454		10,983		(29,601		)	13,297
	164		29,481		106,677		977,598		(866,937		)	246,983
Property and Equipment, net	—		835		181,673		1,403,264		—			1,585,772
Investment in Park	588,684		1,045,640		238,132		234,238		(2,106,694		)	—
Goodwill	674		—		63,551		119,605		—			183,830
Other Intangibles, net	—		—		14,177		23,887		—			38,064
Deferred Tax Asset	—		20,956		—		—		(20,956		)	—
Other Assets	—		—		40		9,470		—			9,510
	$	589,522	$	1,096,912	$	604,250	$	2,768,062	$	(2,994,587	)	$	2,064,159
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	497,558	$	344,410	$	1,379	$	18,610	$	(837,336	)	$	24,621
Deferred revenue	—		—		6,237		79,894		—			86,131
Accrued interest	27		18		2,055		6,024		—			8,124
Accrued taxes	352		—		—		73,224		(29,601		)	43,975
Accrued salaries, wages and benefits	—		17,498		1,242		—		—			18,740
Self-insurance reserves	—		10,947		1,618		12,542					25,107
Other accrued liabilities	3,406		5,094		157		10,139		—			18,796
	501,343		377,967		12,688		200,433		(866,937		)	225,494
Deferred Tax Liability	—		—		13,809		81,945		(20,956		)	74,798
Derivative Liability	5,233		3,489		—		—		—			8,722
Other Liabilities	—		873		—		10,811		—			11,684
Long-Term Debt:
Term debt	—		127,437		—		596,351		—			723,788
Notes	—		—		445,156		491,571		—			936,727
	—		127,437		445,156		1,087,922		—			1,660,515
Equity	82,946		587,146		132,597		1,386,951		(2,106,694		)	82,946
	$	589,522	$	1,096,912	$	604,250	$	2,768,062	$	(2,994,587	)	$	2,064,159

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	—		—		6,876		76,464		—			83,340
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		42,010		214,101		(834,494		)	298,412
Deferred Tax Liability	—		—		19,511		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—			14,849
Other Liabilities	—		1,398		261		14,073		—			15,732
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 STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	71,751		$	182,833		$	81,265		$	613,094		$	(285,240	)	$	663,703
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			7,020			46,871			—			53,891
Operating expenses	—			122,455			20,145			349,145			(285,240		)	206,505
Selling, general and administrative	185			20,666			4,582			41,681			—			67,114
Depreciation and amortization	—			8			8,379			65,987			—			74,374
Loss on impairment / retirement of fixed assets, net	—			—			—			3,247			—			3,247
	185			143,129			40,126			506,931			(285,240		)	405,131
Operating income	71,566			39,704			41,139			106,163			—			258,572
Interest expense, net	5,879			4,072			5,986			4,997			—			20,934
Net effect of swaps	265			(1,482		)	—			—			—			(1,217		)
(Gain) loss on foreign currency	—			15			(13,069		)	—			—			(13,054		)
Other (income) expense	63			(28,849		)	1,484			27,134			—			(168		)
Income from investment in affiliates	(153,756		)	(100,629		)	(16,509		)	(56,985		)	327,879			—
Income before taxes	219,115			166,577			63,247			131,017			(327,879		)	252,077
Provision for taxes	5,808			12,823			6,261			13,878			—			38,770
Net income	$	213,307		$	153,754		$	56,986		$	117,139		$	(327,879	)	$	213,307
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276		)	—			(5,276		)	—			5,276			(5,276		)
Unrealized gain on cash flow hedging derivatives	2,116			728			—			—			(728		)	2,116
Other comprehensive income (loss), (net of tax)	(3,160		)	728			(5,276		)	—			4,548			(3,160		)
Total comprehensive income	$	210,147		$	154,482		$	51,710		$	117,139		$	(323,331	)	$	210,147

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 Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	84,921		$	275,214		$	111,184		$	1,023,713		$	(396,286	)	$	1,098,746
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			10,204			84,708			—			94,912
Operating expenses	—			258,162			40,115			560,759			(396,286		)	462,750
Selling, general and administrative	1,870			50,754			8,818			88,395			—			149,837
Depreciation and amortization	—			24			14,319			117,771			—			132,114
Loss on impairment / retirement of fixed assets, net	—			—			67			7,892			—			7,959
	1,870			308,940			73,523			859,525			(396,286		)	847,572
Operating income (loss)	83,051			(33,726		)	37,661			164,188			—			251,174
Interest expense, net	16,519			13,031			17,637			14,565			—			61,752
Net effect of swaps	(2,266		)	(3,485		)	—			—			—			(5,751		)
Loss on early debt extinguishment	—			187			—			886			—			1,073
Loss on foreign currency	—			36			11,988			—			—			12,024
Other (income) expense	186			(61,404		)	3,270			57,573			—			(375		)
Income from investment in affiliates	(89,426		)	(74,345		)	(21,578		)	(22,798		)	208,147			—
Income before taxes	158,038			92,254			26,344			113,962			(208,147		)	182,451
Provision for taxes	8,888			2,829			3,545			18,039			—			33,301
Net income	$	149,150		$	89,425		$	22,799		$	95,923		$	(208,147	)	$	149,150
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	5,990			—			5,990			—			(5,990		)	5,990
Unrealized gain on cash flow hedging derivatives	6,250			2,085			—			—			(2,085		)	6,250
Other comprehensive income (loss), (net of tax)	12,240			2,085			5,990			—			(8,075		)	12,240
Total comprehensive income	$	161,390		$	91,510		$	28,789		$	95,923		$	(216,222	)	$	161,390

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 CASH FLOWS

For the Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	95,426		$	13,190		$	41,319		$	188,005		$	(3,506	)	$	334,434
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(31,877		)	(21,515		)	53,392			—
Capital expenditures	—			—			(16,355		)	(129,361		)	—			(145,716		)
Net cash for investing activities	—			—			(48,232		)	(150,876		)	53,392			(145,716		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394			(3,002		)	—			—			(53,392		)	—
Distributions paid to partners	(151,820		)	—			—			—			968			(150,852		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,200		)	—			(2,521		)
Exercise of limited partnership unit options	—			125			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(3,049		)	—			—			—			(3,049		)
Payments related to tax withholding for equity compensation	—			(6,943		)	—			—			—			(6,943		)
Net cash for financing activities	(95,426		)	(13,190		)	—			(2,200		)	(52,424		)	(163,240		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(967		)	—			—			(967		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	—			—			(7,880		)	34,929			(2,538		)	24,511
Balance, beginning of period	—			—			85,758			81,582			(1,095		)	166,245
Balance, end of period	$	—		$	—		$	77,878		$	116,511		$	(3,633	)	$	190,756

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
Capital expenditures	—			(25		)	(5,679		)	(146,735		)	—			(152,439		)
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

(13) Consolidating Financial Information of Guarantors and Issuers of April 2017 Notes:

Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), Magnum Management Corporation ("Magnum"), and Millennium Operations LLC ("Millennium") are the co-issuers of the Partnership's April 2017 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, Magnum and Millennium) 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, Magnum, and Millennium, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada, Magnum and Millennium), the guarantors (on a combined basis), as of September 23, 2018, December 31, 2017, and September 24, 2017 and for the three- and nine-month periods ended September 23, 2018 and September 24, 2017. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the accompanying unaudited condensed consolidating financial statements have been included.

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	77,878	$	115,323	$	1,188	$	(3,633	)	$	190,756
Receivables	—		991		47,193		36,711		858,552		(885,049		)	58,398
Inventories	—		—		2,260		28,205		6,084		—			36,549
Other current assets	293		1,170		3,594		15,871		3,675		(2,728		)	21,875
	293		2,161		130,925		196,110		869,499		(891,410		)	307,578
Property and Equipment, net	—		811		178,522		—		1,409,366		—			1,588,699
Investment in Park	648,414		1,205,086		259,710		1,490,666		246,968		(3,850,844		)	—
Goodwill	674		—		61,725		8,388		111,217		—			182,004
Other Intangibles, net	—		—		13,763		—		23,368		—			37,131
Deferred Tax Asset	—		19,870		—		—		—		(19,870		)	—
Other Assets	1,197		2,926		39		312		9,062		—			13,536
	$	650,578	$	1,230,854	$	644,684	$	1,695,476	$	2,669,480	$	(4,762,124	)	$	2,128,948
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	656	$	—	$	3,094	$	—	$	—		$	3,750
Accounts payable	553,952		334,696		2,868		23,330		6,825		(888,682		)	32,989
Deferred revenue	—		—		9,397		66,342		26,587		—			102,326
Accrued interest	113		75		7,601		14,104		—		—			21,893
Accrued taxes	1,551		38,538		—		9,569		1,442		(2,728		)	48,372
Accrued salaries, wages and benefits	—		28,162		2,416		—		—		—			30,578
Self-insurance reserves	—		10,459		1,635		11,856		1,973		—			25,923
Other accrued liabilities	3,292		6,796		585		6,937		4,622		—			22,232
	558,908		419,382		24,502		135,232		41,449		(891,410		)	288,063
Deferred Tax Liability	—		—		12,562		—		81,945		(19,870		)	74,637
Other Liabilities	—		968		390		3,304		11,630		—			16,292
Long-Term Debt:
Term debt	—		126,800		—		594,046		—		—			720,846
Notes	—		—		445,846		491,594		—		—			937,440
	—		126,800		445,846		1,085,640		—		—			1,658,286
Equity	91,670		683,704		161,384		471,300		2,534,456		(3,850,844		)	91,670
	$	650,578	$	1,230,854	$	644,684	$	1,695,476	$	2,669,480	$	(4,762,124	)	$	2,128,948

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	85,758	$	80,430	$	1,152	$	(1,095	)	$	166,245
Receivables	—		1,184		15,574		26,130		831,075		(836,241		)	37,722
Inventories	—		—		1,891		22,528		5,300		—			29,719
Other current assets	164		28,297		3,454		9,341		1,642		(29,601		)	13,297
	164		29,481		106,677		138,429		839,169		(866,937		)	246,983
Property and Equipment, net	—		835		181,673		—		1,403,264		—			1,585,772
Investment in Park	588,684		1,045,640		238,132		1,392,761		234,237		(3,499,454		)	—
Goodwill	674		—		63,551		8,387		111,218		—			183,830
Other Intangibles, net	—		—		14,177		—		23,887		—			38,064
Deferred Tax Asset	—		20,956		—		—		—		(20,956		)	—
Other Assets	—		—		40		402		9,068		—			9,510
	$	589,522	$	1,096,912	$	604,250	$	1,539,979	$	2,620,843	$	(4,387,347	)	$	2,064,159
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	497,558	$	344,410	$	1,379	$	13,572	$	5,038	$	(837,336	)	$	24,621
Deferred revenue	—		—		6,237		59,307		20,587		—			86,131
Accrued interest	27		18		2,055		6,024		—		—			8,124
Accrued taxes	352		—		—		6,176		67,048		(29,601		)	43,975
Accrued salaries, wages and benefits	—		17,498		1,242		—		—		—			18,740
Self-insurance reserves	—		10,947		1,618		10,156		2,386		—			25,107
Other accrued liabilities	3,406		5,094		157		5,649		4,490		—			18,796
	501,343		377,967		12,688		100,884		99,549		(866,937		)	225,494
Deferred Tax Liability	—		—		13,809		—		81,945		(20,956		)	74,798
Derivative Liability	5,233		3,489		—		—		—		—			8,722
Other Liabilities	—		873		—		120		10,691		—			11,684
Long-Term Debt:
Term debt	—		127,437		—		596,351		—		—			723,788
Notes	—		—		445,156		491,571		—		—			936,727
	—		127,437		445,156		1,087,922		—		—			1,660,515
Equity	82,946		587,146		132,597		351,053		2,428,658		(3,499,454		)	82,946
	$	589,522	$	1,096,912	$	604,250	$	1,539,979	$	2,620,843	$	(4,387,347	)	$	2,064,159

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)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	92,047	$	158,904	$	1,689	$	(2,694	)	$	249,946
Receivables	—		1,285		33,158		32,049		805,545		(819,734		)	52,303
Inventories	—		—		2,423		26,158		5,659		—			34,240
Other current assets	275		12,843		743		12,874		3,955		(12,066		)	18,624
	275		14,128		128,371		229,985		816,848		(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		1,370,295		222,953		(3,401,117		)	—
Goodwill	674		—		64,730		8,388		111,218		—			185,010
Other Intangibles, net	—		—		14,443		—		24,089		—			38,532
Deferred Tax Asset	—		32,190		—		—		—		(32,190		)	—
Other Assets	—		—		53		447		16,907		—			17,407
	$	567,497	$	1,064,017	$	615,266	$	1,609,115	$	2,588,478	$	(4,267,801	)	$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	478,416	$	345,150	$	6,431	$	21,094	$	5,047	$	(822,428	)	$	33,710
Deferred revenue	—		—		6,876		53,120		23,344		—			83,340
Accrued interest	292		195		9,209		14,232		—		—			23,928
Accrued taxes	1,589		—		14,910		9,024		65,200		(12,066		)	78,657
Accrued salaries, wages and benefits	—		28,306		2,360		—		—		—			30,666
Self-insurance reserves	—		12,090		1,725		11,525		2,209		—			27,549
Other accrued liabilities	2,985		7,772		499		4,722		4,584		—			20,562
	483,282		393,513		42,010		113,717		100,384		(834,494		)	298,412
Deferred Tax Liability	—		—		19,511		—		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—		—			14,849
Other Liabilities	—		1,398		261		2,081		11,992		—			15,732
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		405,967		2,350,752		(3,401,117		)	75,282
	$	567,497	$	1,064,017	$	615,266	$	1,609,115	$	2,588,478	$	(4,267,801	)	$	2,176,572

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	71,751		$	182,833		$	81,265		$	474,711	$	189,672		$	(336,529	)	$	663,703
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			7,020			38,134		8,737			—			53,891
Operating expenses	—			122,455			20,145			388,158		12,276			(336,529		)	206,505
Selling, general and administrative	185			20,666			4,582			34,578		7,103			—			67,114
Depreciation and amortization	—			8			8,379			—		65,987			—			74,374
Loss on impairment / retirement of fixed assets, net	—			—			—			422		2,825			—			3,247
	185			143,129			40,126			461,292		96,928			(336,529		)	405,131
Operating income	71,566			39,704			41,139			13,419		92,744			—			258,572
Interest (income) expense, net	5,879			4,072			5,986			12,940		(7,943		)	—			20,934
Net effect of swaps	265			(1,482		)	—			—		—			—			(1,217		)
(Gain) loss on foreign currency	—			15			(13,069		)	—		—			—			(13,054		)
Other (income) expense	63			(28,849		)	1,484			—		27,134			—			(168		)
Income from investment in affiliates	(153,756		)	(100,629		)	(16,509		)	—		(56,985		)	327,879			—
Income before taxes	219,115			166,577			63,247			479		130,538			(327,879		)	252,077
Provision for taxes	5,808			12,823			6,261			479		13,399			—			38,770
Net income	$	213,307		$	153,754		$	56,986		$	—	$	117,139		$	(327,879	)	$	213,307
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(5,276		)	—			(5,276		)	—		—			5,276			(5,276		)
Unrealized gain on cash flow hedging derivatives	2,116			728			—			—		—			(728		)	2,116
Other comprehensive income (loss), (net of tax)	(3,160		)	728			(5,276		)	—		—			4,548			(3,160		)
Total comprehensive income	$	210,147		$	154,482		$	51,710		$	—	$	117,139		$	(323,331	)	$	210,147

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)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	69,999		$	169,429		$	85,963		$	457,530	$	189,586		$	(319,818	)	$	652,689
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			7,735			36,301		8,611			—			52,647
Operating expenses	—			118,614			19,627			371,768		12,519			(319,818		)	202,710
Selling, general and administrative	327			21,752			4,539			36,021		9,024			—			71,663
Depreciation and amortization	—			9			7,856			—		62,195			—			70,060
Loss on impairment / retirement of fixed assets, net	—			—			87			738		522			—			1,347
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	327			138,498			39,844			444,828		92,871			(319,818		)	396,550
Operating income	69,672			30,931			46,119			12,702		96,715			—			256,139
Interest (income) expense, net	4,857			4,305			6,152			12,167		(6,194		)	—			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			535		135,901			(306,442		)	265,062
Provision for taxes	6,715			19,526			26,432			535		20,539			—			73,747
Net income	$	191,315		$	132,699		$	58,381		$	—	$	115,362		$	(306,442	)	$	191,315
Other comprehensive income (loss), (net of tax):
Cumulative 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 Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	84,921		$	275,214		$	111,184		$	807,575	$	310,159		$	(490,307	)	$	1,098,746
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,204			69,628		15,080			—			94,912
Operating expenses	—			258,162			40,115			622,643		32,137			(490,307		)	462,750
Selling, general and administrative	1,870			50,754			8,818			73,572		14,823			—			149,837
Depreciation and amortization	—			24			14,319			—		117,771			—			132,114
Loss on impairment / retirement of fixed assets, net	—			—			67			1,868		6,024			—			7,959
	1,870			308,940			73,523			767,711		185,835			(490,307		)	847,572
Operating income (loss)	83,051			(33,726		)	37,661			39,864		124,324			—			251,174
Interest (income) expense, net	16,519			13,031			17,637			37,539		(22,974		)	—			61,752
Net effect of swaps	(2,266		)	(3,485		)	—			—		—			—			(5,751		)
Loss on early debt extinguishment	—			187			—			886		—			—			1,073
Loss on foreign currency	—			36			11,988			—		—			—			12,024
Other (income) expense	186			(61,404		)	3,270			—		57,573			—			(375		)
Income from investment in affiliates	(89,426		)	(74,345		)	(21,578		)	—		(22,798		)	208,147			—
Income before taxes	158,038			92,254			26,344			1,439		112,523			(208,147		)	182,451
Provision for taxes	8,888			2,829			3,545			1,439		16,600			—			33,301
Net income	$	149,150		$	89,425		$	22,799		$	—	$	95,923		$	(208,147	)	$	149,150
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	5,990			—			5,990			—		—			(5,990		)	5,990
Unrealized gain on cash flow hedging derivatives	6,250			2,085			—			—		—			(2,085		)	6,250
Other comprehensive income (loss), (net of tax)	12,240			2,085			5,990			—		—			(8,075		)	12,240
Total comprehensive income	$	161,390		$	91,510		$	28,789		$	—	$	95,923		$	(216,222	)	$	161,390

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)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,672		$	262,739		$	114,141		$	788,737	$	322,763		$	(487,247	)	$	1,093,805
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,569			66,537		15,270			—			92,376
Operating expenses	—			248,047			37,701			616,134		32,744			(487,247		)	447,379
Selling, general and administrative	2,254			51,358			8,592			73,098		15,840			—			151,142
Depreciation and amortization	—			26			12,869			—		113,342			—			126,237
Loss on impairment / retirement of fixed assets, net	—			—			542			1,511		1,004			—			3,057
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	2,254			297,554			70,273			757,280		178,200			(487,247		)	818,314
Operating income (loss)	90,418			(34,815		)	43,868			31,457		144,563			—			275,491
Interest (income) expense, net	18,285			13,893			18,317			26,747		(15,169		)	—			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			1,754		164,649			(301,286		)	221,698
Provision (benefit) for taxes	8,917			(1,223		)	23,473			1,754		30,848			—			63,769
Net income	$	157,929		$	108,836		$	58,649		$	—	$	133,801		$	(301,286	)	$	157,929
Other comprehensive income (loss), (net of tax):
Cumulative 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 CASH FLOWS

For the Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	95,426		$	13,190		$	41,319		$	136,066		$	51,939		$	(3,506	)	$	334,434
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(31,877		)	—			(21,515		)	53,392			—
Capital expenditures	—			—			(16,355		)	(98,973		)	(30,388		)	—			(145,716		)
Net cash for investing activities	—			—			(48,232		)	(98,973		)	(51,903		)	53,392			(145,716		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394			(3,002		)	—			—			—			(53,392		)	—
Distributions paid to partners	(151,820		)	—			—			—			—			968			(150,852		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,200		)	—			—			(2,521		)
Exercise of limited partnership unit options	—			125			—			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(3,049		)	—			—			—			—			(3,049		)
Payments related to tax withholding for equity compensation	—			(6,943		)	—			—			—			—			(6,943		)
Net cash for financing activities	(95,426		)	(13,190		)	—			(2,200		)	—			(52,424		)	(163,240		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(967		)	—			—			—			(967		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	—			—			(7,880		)	34,893			36			(2,538		)	24,511
Balance, beginning of period	—			—			85,758			80,430			1,152			(1,095		)	166,245
Balance, end of period	$	—		$	—		$	77,878		$	115,323		$	1,188		$	(3,633	)	$	190,756

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)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	61,966		$	(3,954	)	$	40,125		$	103,553		$	124,035		$	(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
Capital expenditures	—			(25		)	(5,679		)	(125,726		)	(21,009		)	—			(152,439		)
Net cash from (for) investing activities	338,000			18,756			(5,679		)	(125,726		)	(122,699		)	(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			101,079			1,336			(1,669		)	127,230
Balance, beginning of period	—			—			65,563			57,825			353			(1,025		)	122,716
Balance, end of period	$	—		$	—		$	92,047		$	158,904		$	1,689		$	(2,694	)	$	249,946

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Significant Accounting and Reporting Policies (Policies)

9 Months Ended

Sep. 23, 2018

Accounting Policies [Abstract]

Revenue Recognition and related receivable and contract liabilities

Revenue Recognition and related receivables and contract liabilities

As disclosed within the consolidated statements of operations and comprehensive income, revenues are generated from sales of (1) admission to the Partnership's amusement parks and water parks, (2) food, merchandise and games both inside and outside the parks, and (3) accommodations, extra-charge products, and other revenue sources. Admission revenues include amounts paid to gain admission into the Partnership's parks, including parking fees. Revenues related to extra-charge products, including premium benefit offerings such as front-of-line products, and online advanced purchase transaction fees charged to customers are included in "Accommodations, extra-charge products and other". Due to the Partnership's highly seasonal operations, a substantial portion of the Partnership's revenues are generated during an approximate 130- to 140-day operating season. Most revenues are recognized on a daily basis based on actual guest spend at the properties. Revenues from multi-use products, including season-long products for admission, dining, beverage and other products, are recognized over the estimated number of uses expected for each type of product. The estimated number of uses is reviewed and may be updated periodically during the operating season prior to the ticket or product expiration, which generally occurs no later than the close of the operating season. The number of uses is estimated based on historical usage adjusted for current period trends. For any bundled products that include multiple performance obligations, revenue is allocated using the retail price of each distinct performance obligation and any inherent discounts are allocated based on the gross margin and expected redemption of each performance obligation. The Partnership does not typically provide for refunds or returns.

In some instances, the Partnership arranges with outside parties ("concessionaires") to provide goods to guests, typically food and merchandise, and the Partnership acts as an agent, resulting in net revenue recorded within the income statement. Concessionaire arrangement revenues are recognized over the operating season and are variable. Sponsorship revenues and marina revenues, which are classified as "Accommodations, extra-charge products and other" within the income statement, are recognized over the park operating season which represents the period in which the performance obligations are satisfied. Sponsorship revenues are typically fixed. However, some sponsorship revenues are variable based on achievement of specified operating metrics. The Partnership estimates variable revenues and performs a constraint analysis using both historical information and current trends to determine the amount of revenue that is not probable of a significant reversal.

Many products, including season-long products, are sold to customers in advance, resulting in a contract liability ("deferred revenue"). Deferred revenue is at its highest immediately prior to the peak summer season, and at its lowest in the fall after the peak summer season and at the beginning of the selling season for the next year's products. Season-long products represent the majority of the deferred revenue balance in any given period.

Of the $86.1 million of deferred revenue recorded as of January 1, 2018, 88% was related to season-long products. The remainder was related to deferred online advanced purchase transaction fees charged to customers, advanced ticket sales, marina deposits, advanced resort reservations, and other deferred revenue. Most deferred revenue outstanding as of January 1, 2018 will be recognized by December 31, 2018 with the exception of an immaterial amount of deferred revenue for prepaid products such as gift cards and prepaid games cards. During the nine months ended September 23, 2018, approximately $70.8 million of the deferred revenue balance as of January 1, 2018 was recognized. The difference in the opening and closing balances of the Partnership's deferred revenue balance in the current period was attributable to additional season-long product sales during the current year for both the 2018 and 2019 operating seasons, offset by revenue recognized during the first nine months of 2018.

Payment is due immediately on the transaction date for most products. The Partnership's receivable balance includes outstanding amounts on installment purchase plans which are offered for season-long products (and other select products for specific time periods), and includes sales to retailers, group sales and catering activities which are billed. Installment purchase plans vary in length from three monthly installments to twelve monthly installments. Payment terms for billings are typically net 30 days. Receivables are highest in the peak summer months and the lowest in the winter months. The Partnership is not exposed to a significant concentration of customer credit risk. As of September 23, 2018, December 31, 2017 and September 24, 2017, the Partnership recorded a $10.7 million, $2.2 million and $10.6 million allowance for doubtful accounts, respectively, representing estimated defaults on installment purchase plans. The default estimate is calculated using the historical default rate adjusted for current period trends. The allowance for doubtful accounts is recorded as a reduction of deferred revenue to the extent revenue has not been recognized on the corresponding season-long products.

Most deferred revenue from contracts with customers is classified as current within the balance sheet. However, a portion of deferred revenue from contracts with customers is classified as non-current during the third quarter related to season-long products sold in the current season for use in the subsequent season. Season-long products are sold beginning in August of the year preceding the operating season. Season-long products may be recognized 12 to 16 months after purchase depending on the date of sale. The Partnership estimates the number of uses expected outside of the next twelve months for each type of product and classifies the related deferred revenue as non-current.

With the exception of the non-current deferred revenue described above, the Partnership's contracts with customers have an original duration of one year or less. For these short-term contracts, the Partnership uses the practical expedient, a relief provided in the accounting standard to simplify compliance, applicable to such contracts and has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue. Further, the Partnership has elected to recognize incremental costs of obtaining a contract as an expense when incurred as the amortization period of the asset would be less than one year. Lastly, the Partnership has elected not to adjust consideration for the effects of significant financing components in the form of installment purchase plans as the period between when the entity transfers the promised service to the customer and when the customer pays for that service does not exceed one year.

New Accounting Pronouncements

New Accounting Pronouncements

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. The ASU can be adopted using either the modified retrospective approach, which requires application of the new standard at the beginning of the earliest comparative period presented, or the comparative reporting approach allowable under ASU 2018-11, which requires application of the new standard at the adoption date. The Partnership expects to adopt this standard in the first quarter of 2019 using the comparative reporting approach. 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.

Other Adopted Accounting Pronouncements

In February 2018, the FASB issued Accounting Standards Update No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Comprehensive Income ("ASU 2018-02"). The ASU allows a reclassification from accumulated other comprehensive income to retained earnings of stranded tax effects resulting from the Tax Cuts and Jobs Act. ASU 2018-02 is effective for fiscal years after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period, and the amendments can be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Partnership elected to adopt ASU 2018-02 in the first quarter of 2018. The amendment was applied in the period of adoption and resulted in a $0.4 million reclassification from accumulated other comprehensive income to limited partners' equity during the first quarter ended March 25, 2018.

In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract ("ASU 2018-15"). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. ASU 2018-15 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. The Partnership has adopted this standard in the third quarter of 2018 using the prospective method. The Partnership anticipates the standard to lengthen the timing of expense recognition associated with upcoming cloud-based projects.

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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 23, 2018

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 23, 2018 and September 24, 2017 is as follows:

(In thousands)	Goodwill (gross)			Accumulated Impairment Losses			Goodwill (net)
Balance as of December 31, 2017	$	263,698		$	(79,868	)	$	183,830
Foreign currency translation	(1,826		)	—			(1,826		)
Balance as of September 23, 2018	$	261,872		$	(79,868	)	$	182,004
Balance as of December 31, 2016	$	259,528		$	(79,868	)	$	179,660
Foreign currency translation	5,350			—			5,350
Balance as of September 24, 2017	$	264,878		$	(79,868	)	$	185,010

Partnership's other intangible assets

As of September 23, 2018, December 31, 2017, and September 24, 2017, the Partnership’s other intangible assets consisted of the following:

(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
September 23, 2018
Other intangible assets:
Trade names	$	36,125	$	—		$	36,125
License / franchise agreements	3,351		(2,345		)	1,006
Total other intangible assets	$	39,476	$	(2,345	)	$	37,131
December 31, 2017
Other intangible assets:
Trade names	$	36,531	$	—		$	36,531
License / franchise agreements	3,360		(1,827		)	1,533
Total other intangible assets	$	39,891	$	(1,827	)	$	38,064
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

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Long-Term Debt Long term debt table (Tables)

9 Months Ended

Sep. 23, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt as of September 23, 2018, December 31, 2017, and September 24, 2017 consisted of the following:

(In thousands)	September 23, 2018			December 31, 2017			September 24, 2017
Term debt (1)
April 2017 U.S. term loan averaging 3.59% (due 2017-2024)	$	735,000		$	735,000		$	735,000
Notes
April 2017 U.S. fixed rate notes at 5.375% (due 2027)	500,000			500,000			500,000
June 2014 U.S. fixed rate notes at 5.375% (due 2024)	450,000			450,000			450,000
	1,685,000			1,685,000			1,685,000
Less current portion	(3,750		)	—			—
	1,681,250			1,685,000			1,685,000
Less debt issuance costs and original issue discount	(22,964		)	(24,485		)	(25,374		)
	$	1,658,286		$	1,660,515		$	1,659,626

(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. 23, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments in Condensed Consolidated Balance Sheet

The fair market value of the swap portfolio was recorded on the unaudited condensed consolidated balance sheets within "Other Assets" as of September 23, 2018 and within "Derivative Liability" as of December 31, 2017 and September 24, 2017 as follows:

(In thousands)	September 23, 2018		December 31, 2017			September 24, 2017
Derivatives not designated as hedging instruments:
Interest rate swaps	$	4,123	$	(8,722	)	$	(14,849	)

Schedule of Derivative Instruments

The (gains) losses recognized in income on derivatives not designated as cash flow hedges were recorded in "Net effect of swaps" within the income statement for the periods presented as follows:

	Three months ended						Nine months ended
(In thousands)	September 23, 2018			September 24, 2017			September 23, 2018			September 24, 2017
Change in fair market value	$	(3,581	)	$	(3,318	)	$	(12,845	)	$	(3,378	)
Amortization of amounts in AOCI	2,364			2,366			7,094			7,095
Net effect of swaps	$	(1,217	)	$	(952	)	$	(5,751	)	$	3,717

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 23, 2018

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 23, 2018, December 31, 2017, and September 24, 2017 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 23, 2018						December 31, 2017						September 24, 2017
			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	$	1,081		$	1,081		$	736		$	736		$	688		$	688
Interest rate swaps	Other Assets (Derivative Liability)	Level 2	$	4,123		$	4,123		$	(8,722	)	$	(8,722	)	$	(14,849	)	$	(14,849	)
Other financial assets (liabilities):
April 2017 term debt	Long-Term Debt (1)	Level 2	$	(731,250	)	$	(734,906	)	$	(735,000	)	$	(742,350	)	$	(735,000	)	$	(740,513	)
June 2014 notes	Long-Term Debt (1)	Level 1	$	(450,000	)	$	(450,000	)	$	(450,000	)	$	(469,125	)	$	(450,000	)	$	(472,500	)
April 2017 notes	Long-Term Debt (1)	Level 1(2)	$	(500,000	)	$	(485,000	)	$	(500,000	)	$	(525,000	)	$	(500,000	)	$	(527,500	)

(1) Carrying values of long-term debt balances are before reductions for debt issuance costs and original issue discount of $23.0 million, $24.5 million, and $25.4 million as of September 23, 2018, December 31, 2017, and September 24, 2017, respectively.

(2) The April 2017 notes were based on Level 1 inputs as of September 23, 2018 and Level 2 inputs as of December 31, 2017 and September 24, 2017.

XML

Earnings per Unit (Tables)

9 Months Ended

Sep. 23, 2018

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
	9/23/2018		9/24/2017		9/23/2018		9/24/2017
	(In thousands, except per unit amounts)
Basic weighted average units outstanding	56,231		56,078		56,205		56,062
Effect of dilutive units:
Deferred units	46		44		46		41
Performance units	—		—		49		48
Restricted units	277		284		289		292
Unit options	142		185		164		188
Diluted weighted average units outstanding	56,696		56,591		56,753		56,631
Net income per unit - basic	$	3.79	$	3.41	$	2.65	$	2.82
Net income per unit - diluted	$	3.76	$	3.38	$	2.63	$	2.79

XML

Changes in Accumulated Other Comprehensive Income by Component (Tables)

9 Months Ended

Sep. 23, 2018

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) related to limited partners' equity for the three months ended September 23, 2018 and September 24, 2017:

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of June 24, 2018	$	(4,232	)	$	15,308		$	11,076
Other comprehensive income before reclassifications, net of tax ($1,055)	—			(5,276		)	(5,276		)
Amounts reclassified from accumulated other comprehensive income, net of tax ($249)	2,116			—			2,116
Net other comprehensive income (loss)	2,116			(5,276		)	(3,160		)
Balance as of September 23, 2018	$	(2,116	)	$	10,032		$	7,916

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of 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)	1,994			—			1,994
Net other comprehensive income (loss)	1,994			(11,143		)	(9,149		)
Balance as of September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

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 9/23/2018			Three months ended 9/24/2017
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(249		)	(371		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	2,116		$	1,994		Net of tax

The following tables reflect the changes in accumulated other comprehensive income (loss) related to limited partners' equity for the nine months ended September 23, 2018 and September 24, 2017:

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation		Total
Balance as of December 31, 2017	$	(7,975	)	$	4,042	$	(3,933	)
Other comprehensive income before reclassifications, net of tax $1,247	—			5,990		5,990
Amounts reclassified from accumulated other comprehensive income, net of tax ($845)	6,250			—		6,250
Net other comprehensive income (loss)	6,250			5,990		12,240
Reclassification of stranded tax effect	(391		)	—		(391		)
Balance as of September 23, 2018	$	(2,116	)	$	10,032	$	7,916

Changes in Accumulated Other Comprehensive Income by Component
(In thousands)	Gains and Losses on Cash Flow Hedges			Foreign Currency Translation			Total
Balance as of 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)	5,981			—			5,981
Net other comprehensive income (loss)	5,981			(13,085		)	(7,104		)
Balance as of September 24, 2017	$	(9,969	)	$	5,806		$	(4,163	)

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 9/23/2018			Three months ended 9/24/2017
Interest rate contracts	$	2,365		$	2,365		Net effect of swaps
Provision for taxes	(249		)	(371		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	2,116		$	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 9/23/2018			Nine months ended 9/24/2017
Interest rate contracts	$	7,095		$	7,094		Net effect of swaps
Provision for taxes	(845		)	(1,113		)	Provision (benefit) for taxes
Losses on cash flow hedges	$	6,250		$	5,981		Net of tax

XML

Consolidating Financial Information of Guarantors and Issuers (Tables)

9 Months Ended

Sep. 23, 2018

Condensed Consolidated Financial Information [Abstract]

Condensed Consolidating Balance Sheet

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

September 23, 2018

(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	$	—	$	—	$	77,878	$	116,511	$	(3,633	)	$	190,756
Receivables	—		991		47,193		895,263		(885,049		)	58,398
Inventories	—		—		2,260		34,289		—			36,549
Other current assets	293		1,170		3,594		19,546		(2,728		)	21,875
	293		2,161		130,925		1,065,609		(891,410		)	307,578
Property and Equipment, net	—		811		178,522		1,409,366		—			1,588,699
Investment in Park	648,414		1,205,086		259,710		246,968		(2,360,178		)	—
Goodwill	674		—		61,725		119,605		—			182,004
Other Intangibles, net	—		—		13,763		23,368		—			37,131
Deferred Tax Asset	—		19,870		—		—		(19,870		)	—
Other Assets	1,197		2,926		39		9,374		—			13,536
	$	650,578	$	1,230,854	$	644,684	$	2,874,290	$	(3,271,458	)	$	2,128,948
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	656	$	—	$	3,094	$	—		$	3,750
Accounts payable	553,952		334,696		2,868		30,155		(888,682		)	32,989
Deferred revenue	—		—		9,397		92,929		—			102,326
Accrued interest	113		75		7,601		14,104		—			21,893
Accrued taxes	1,551		38,538		—		11,011		(2,728		)	48,372
Accrued salaries, wages and benefits	—		28,162		2,416		—		—			30,578
Self-insurance reserves	—		10,459		1,635		13,829		—			25,923
Other accrued liabilities	3,292		6,796		585		11,559		—			22,232
	558,908		419,382		24,502		176,681		(891,410		)	288,063
Deferred Tax Liability	—		—		12,562		81,945		(19,870		)	74,637
Other Liabilities	—		968		390		14,934		—			16,292
Long-Term Debt:
Term debt	—		126,800		—		594,046		—			720,846
Notes	—		—		445,846		491,594		—			937,440
	—		126,800		445,846		1,085,640		—			1,658,286
Equity	91,670		683,704		161,384		1,515,090		(2,360,178		)	91,670
	$	650,578	$	1,230,854	$	644,684	$	2,874,290	$	(3,271,458	)	$	2,128,948

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 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	$	—	$	—	$	85,758	$	81,582	$	(1,095	)	$	166,245
Receivables	—		1,184		15,574		857,205		(836,241		)	37,722
Inventories	—		—		1,891		27,828		—			29,719
Other current assets	164		28,297		3,454		10,983		(29,601		)	13,297
	164		29,481		106,677		977,598		(866,937		)	246,983
Property and Equipment, net	—		835		181,673		1,403,264		—			1,585,772
Investment in Park	588,684		1,045,640		238,132		234,238		(2,106,694		)	—
Goodwill	674		—		63,551		119,605		—			183,830
Other Intangibles, net	—		—		14,177		23,887		—			38,064
Deferred Tax Asset	—		20,956		—		—		(20,956		)	—
Other Assets	—		—		40		9,470		—			9,510
	$	589,522	$	1,096,912	$	604,250	$	2,768,062	$	(2,994,587	)	$	2,064,159
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	497,558	$	344,410	$	1,379	$	18,610	$	(837,336	)	$	24,621
Deferred revenue	—		—		6,237		79,894		—			86,131
Accrued interest	27		18		2,055		6,024		—			8,124
Accrued taxes	352		—		—		73,224		(29,601		)	43,975
Accrued salaries, wages and benefits	—		17,498		1,242		—		—			18,740
Self-insurance reserves	—		10,947		1,618		12,542					25,107
Other accrued liabilities	3,406		5,094		157		10,139		—			18,796
	501,343		377,967		12,688		200,433		(866,937		)	225,494
Deferred Tax Liability	—		—		13,809		81,945		(20,956		)	74,798
Derivative Liability	5,233		3,489		—		—		—			8,722
Other Liabilities	—		873		—		10,811		—			11,684
Long-Term Debt:
Term debt	—		127,437		—		596,351		—			723,788
Notes	—		—		445,156		491,571		—			936,727
	—		127,437		445,156		1,087,922		—			1,660,515
Equity	82,946		587,146		132,597		1,386,951		(2,106,694		)	82,946
	$	589,522	$	1,096,912	$	604,250	$	2,768,062	$	(2,994,587	)	$	2,064,159

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	—		—		6,876		76,464		—			83,340
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		42,010		214,101		(834,494		)	298,412
Deferred Tax Liability	—		—		19,511		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—			14,849
Other Liabilities	—		1,398		261		14,073		—			15,732
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

September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	77,878	$	115,323	$	1,188	$	(3,633	)	$	190,756
Receivables	—		991		47,193		36,711		858,552		(885,049		)	58,398
Inventories	—		—		2,260		28,205		6,084		—			36,549
Other current assets	293		1,170		3,594		15,871		3,675		(2,728		)	21,875
	293		2,161		130,925		196,110		869,499		(891,410		)	307,578
Property and Equipment, net	—		811		178,522		—		1,409,366		—			1,588,699
Investment in Park	648,414		1,205,086		259,710		1,490,666		246,968		(3,850,844		)	—
Goodwill	674		—		61,725		8,388		111,217		—			182,004
Other Intangibles, net	—		—		13,763		—		23,368		—			37,131
Deferred Tax Asset	—		19,870		—		—		—		(19,870		)	—
Other Assets	1,197		2,926		39		312		9,062		—			13,536
	$	650,578	$	1,230,854	$	644,684	$	1,695,476	$	2,669,480	$	(4,762,124	)	$	2,128,948
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	656	$	—	$	3,094	$	—	$	—		$	3,750
Accounts payable	553,952		334,696		2,868		23,330		6,825		(888,682		)	32,989
Deferred revenue	—		—		9,397		66,342		26,587		—			102,326
Accrued interest	113		75		7,601		14,104		—		—			21,893
Accrued taxes	1,551		38,538		—		9,569		1,442		(2,728		)	48,372
Accrued salaries, wages and benefits	—		28,162		2,416		—		—		—			30,578
Self-insurance reserves	—		10,459		1,635		11,856		1,973		—			25,923
Other accrued liabilities	3,292		6,796		585		6,937		4,622		—			22,232
	558,908		419,382		24,502		135,232		41,449		(891,410		)	288,063
Deferred Tax Liability	—		—		12,562		—		81,945		(19,870		)	74,637
Other Liabilities	—		968		390		3,304		11,630		—			16,292
Long-Term Debt:
Term debt	—		126,800		—		594,046		—		—			720,846
Notes	—		—		445,846		491,594		—		—			937,440
	—		126,800		445,846		1,085,640		—		—			1,658,286
Equity	91,670		683,704		161,384		471,300		2,534,456		(3,850,844		)	91,670
	$	650,578	$	1,230,854	$	644,684	$	1,695,476	$	2,669,480	$	(4,762,124	)	$	2,128,948

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	85,758	$	80,430	$	1,152	$	(1,095	)	$	166,245
Receivables	—		1,184		15,574		26,130		831,075		(836,241		)	37,722
Inventories	—		—		1,891		22,528		5,300		—			29,719
Other current assets	164		28,297		3,454		9,341		1,642		(29,601		)	13,297
	164		29,481		106,677		138,429		839,169		(866,937		)	246,983
Property and Equipment, net	—		835		181,673		—		1,403,264		—			1,585,772
Investment in Park	588,684		1,045,640		238,132		1,392,761		234,237		(3,499,454		)	—
Goodwill	674		—		63,551		8,387		111,218		—			183,830
Other Intangibles, net	—		—		14,177		—		23,887		—			38,064
Deferred Tax Asset	—		20,956		—		—		—		(20,956		)	—
Other Assets	—		—		40		402		9,068		—			9,510
	$	589,522	$	1,096,912	$	604,250	$	1,539,979	$	2,620,843	$	(4,387,347	)	$	2,064,159
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	497,558	$	344,410	$	1,379	$	13,572	$	5,038	$	(837,336	)	$	24,621
Deferred revenue	—		—		6,237		59,307		20,587		—			86,131
Accrued interest	27		18		2,055		6,024		—		—			8,124
Accrued taxes	352		—		—		6,176		67,048		(29,601		)	43,975
Accrued salaries, wages and benefits	—		17,498		1,242		—		—		—			18,740
Self-insurance reserves	—		10,947		1,618		10,156		2,386		—			25,107
Other accrued liabilities	3,406		5,094		157		5,649		4,490		—			18,796
	501,343		377,967		12,688		100,884		99,549		(866,937		)	225,494
Deferred Tax Liability	—		—		13,809		—		81,945		(20,956		)	74,798
Derivative Liability	5,233		3,489		—		—		—		—			8,722
Other Liabilities	—		873		—		120		10,691		—			11,684
Long-Term Debt:
Term debt	—		127,437		—		596,351		—		—			723,788
Notes	—		—		445,156		491,571		—		—			936,727
	—		127,437		445,156		1,087,922		—		—			1,660,515
Equity	82,946		587,146		132,597		351,053		2,428,658		(3,499,454		)	82,946
	$	589,522	$	1,096,912	$	604,250	$	1,539,979	$	2,620,843	$	(4,387,347	)	$	2,064,159

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)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	92,047	$	158,904	$	1,689	$	(2,694	)	$	249,946
Receivables	—		1,285		33,158		32,049		805,545		(819,734		)	52,303
Inventories	—		—		2,423		26,158		5,659		—			34,240
Other current assets	275		12,843		743		12,874		3,955		(12,066		)	18,624
	275		14,128		128,371		229,985		816,848		(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		1,370,295		222,953		(3,401,117		)	—
Goodwill	674		—		64,730		8,388		111,218		—			185,010
Other Intangibles, net	—		—		14,443		—		24,089		—			38,532
Deferred Tax Asset	—		32,190		—		—		—		(32,190		)	—
Other Assets	—		—		53		447		16,907		—			17,407
	$	567,497	$	1,064,017	$	615,266	$	1,609,115	$	2,588,478	$	(4,267,801	)	$	2,176,572
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	478,416	$	345,150	$	6,431	$	21,094	$	5,047	$	(822,428	)	$	33,710
Deferred revenue	—		—		6,876		53,120		23,344		—			83,340
Accrued interest	292		195		9,209		14,232		—		—			23,928
Accrued taxes	1,589		—		14,910		9,024		65,200		(12,066		)	78,657
Accrued salaries, wages and benefits	—		28,306		2,360		—		—		—			30,666
Self-insurance reserves	—		12,090		1,725		11,525		2,209		—			27,549
Other accrued liabilities	2,985		7,772		499		4,722		4,584		—			20,562
	483,282		393,513		42,010		113,717		100,384		(834,494		)	298,412
Deferred Tax Liability	—		—		19,511		—		125,350		(32,190		)	112,671
Derivative Liability	8,933		5,916		—		—		—		—			14,849
Other Liabilities	—		1,398		261		2,081		11,992		—			15,732
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		405,967		2,350,752		(3,401,117		)	75,282
	$	567,497	$	1,064,017	$	615,266	$	1,609,115	$	2,588,478	$	(4,267,801	)	$	2,176,572

Condensed Consolidating Statement of Operations

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	71,751		$	182,833		$	81,265		$	613,094		$	(285,240	)	$	663,703
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			7,020			46,871			—			53,891
Operating expenses	—			122,455			20,145			349,145			(285,240		)	206,505
Selling, general and administrative	185			20,666			4,582			41,681			—			67,114
Depreciation and amortization	—			8			8,379			65,987			—			74,374
Loss on impairment / retirement of fixed assets, net	—			—			—			3,247			—			3,247
	185			143,129			40,126			506,931			(285,240		)	405,131
Operating income	71,566			39,704			41,139			106,163			—			258,572
Interest expense, net	5,879			4,072			5,986			4,997			—			20,934
Net effect of swaps	265			(1,482		)	—			—			—			(1,217		)
(Gain) loss on foreign currency	—			15			(13,069		)	—			—			(13,054		)
Other (income) expense	63			(28,849		)	1,484			27,134			—			(168		)
Income from investment in affiliates	(153,756		)	(100,629		)	(16,509		)	(56,985		)	327,879			—
Income before taxes	219,115			166,577			63,247			131,017			(327,879		)	252,077
Provision for taxes	5,808			12,823			6,261			13,878			—			38,770
Net income	$	213,307		$	153,754		$	56,986		$	117,139		$	(327,879	)	$	213,307
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276		)	—			(5,276		)	—			5,276			(5,276		)
Unrealized gain on cash flow hedging derivatives	2,116			728			—			—			(728		)	2,116
Other comprehensive income (loss), (net of tax)	(3,160		)	728			(5,276		)	—			4,548			(3,160		)
Total comprehensive income	$	210,147		$	154,482		$	51,710		$	117,139		$	(323,331	)	$	210,147

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 Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	84,921		$	275,214		$	111,184		$	1,023,713		$	(396,286	)	$	1,098,746
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			10,204			84,708			—			94,912
Operating expenses	—			258,162			40,115			560,759			(396,286		)	462,750
Selling, general and administrative	1,870			50,754			8,818			88,395			—			149,837
Depreciation and amortization	—			24			14,319			117,771			—			132,114
Loss on impairment / retirement of fixed assets, net	—			—			67			7,892			—			7,959
	1,870			308,940			73,523			859,525			(396,286		)	847,572
Operating income (loss)	83,051			(33,726		)	37,661			164,188			—			251,174
Interest expense, net	16,519			13,031			17,637			14,565			—			61,752
Net effect of swaps	(2,266		)	(3,485		)	—			—			—			(5,751		)
Loss on early debt extinguishment	—			187			—			886			—			1,073
Loss on foreign currency	—			36			11,988			—			—			12,024
Other (income) expense	186			(61,404		)	3,270			57,573			—			(375		)
Income from investment in affiliates	(89,426		)	(74,345		)	(21,578		)	(22,798		)	208,147			—
Income before taxes	158,038			92,254			26,344			113,962			(208,147		)	182,451
Provision for taxes	8,888			2,829			3,545			18,039			—			33,301
Net income	$	149,150		$	89,425		$	22,799		$	95,923		$	(208,147	)	$	149,150
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	5,990			—			5,990			—			(5,990		)	5,990
Unrealized gain on cash flow hedging derivatives	6,250			2,085			—			—			(2,085		)	6,250
Other comprehensive income (loss), (net of tax)	12,240			2,085			5,990			—			(8,075		)	12,240
Total comprehensive income	$	161,390		$	91,510		$	28,789		$	95,923		$	(216,222	)	$	161,390

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 Three Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	71,751		$	182,833		$	81,265		$	474,711	$	189,672		$	(336,529	)	$	663,703
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			7,020			38,134		8,737			—			53,891
Operating expenses	—			122,455			20,145			388,158		12,276			(336,529		)	206,505
Selling, general and administrative	185			20,666			4,582			34,578		7,103			—			67,114
Depreciation and amortization	—			8			8,379			—		65,987			—			74,374
Loss on impairment / retirement of fixed assets, net	—			—			—			422		2,825			—			3,247
	185			143,129			40,126			461,292		96,928			(336,529		)	405,131
Operating income	71,566			39,704			41,139			13,419		92,744			—			258,572
Interest (income) expense, net	5,879			4,072			5,986			12,940		(7,943		)	—			20,934
Net effect of swaps	265			(1,482		)	—			—		—			—			(1,217		)
(Gain) loss on foreign currency	—			15			(13,069		)	—		—			—			(13,054		)
Other (income) expense	63			(28,849		)	1,484			—		27,134			—			(168		)
Income from investment in affiliates	(153,756		)	(100,629		)	(16,509		)	—		(56,985		)	327,879			—
Income before taxes	219,115			166,577			63,247			479		130,538			(327,879		)	252,077
Provision for taxes	5,808			12,823			6,261			479		13,399			—			38,770
Net income	$	213,307		$	153,754		$	56,986		$	—	$	117,139		$	(327,879	)	$	213,307
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	(5,276		)	—			(5,276		)	—		—			5,276			(5,276		)
Unrealized gain on cash flow hedging derivatives	2,116			728			—			—		—			(728		)	2,116
Other comprehensive income (loss), (net of tax)	(3,160		)	728			(5,276		)	—		—			4,548			(3,160		)
Total comprehensive income	$	210,147		$	154,482		$	51,710		$	—	$	117,139		$	(323,331	)	$	210,147

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)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	69,999		$	169,429		$	85,963		$	457,530	$	189,586		$	(319,818	)	$	652,689
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			7,735			36,301		8,611			—			52,647
Operating expenses	—			118,614			19,627			371,768		12,519			(319,818		)	202,710
Selling, general and administrative	327			21,752			4,539			36,021		9,024			—			71,663
Depreciation and amortization	—			9			7,856			—		62,195			—			70,060
Loss on impairment / retirement of fixed assets, net	—			—			87			738		522			—			1,347
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	327			138,498			39,844			444,828		92,871			(319,818		)	396,550
Operating income	69,672			30,931			46,119			12,702		96,715			—			256,139
Interest (income) expense, net	4,857			4,305			6,152			12,167		(6,194		)	—			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			535		135,901			(306,442		)	265,062
Provision for taxes	6,715			19,526			26,432			535		20,539			—			73,747
Net income	$	191,315		$	132,699		$	58,381		$	—	$	115,362		$	(306,442	)	$	191,315
Other comprehensive income (loss), (net of tax):
Cumulative 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 Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	84,921		$	275,214		$	111,184		$	807,575	$	310,159		$	(490,307	)	$	1,098,746
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,204			69,628		15,080			—			94,912
Operating expenses	—			258,162			40,115			622,643		32,137			(490,307		)	462,750
Selling, general and administrative	1,870			50,754			8,818			73,572		14,823			—			149,837
Depreciation and amortization	—			24			14,319			—		117,771			—			132,114
Loss on impairment / retirement of fixed assets, net	—			—			67			1,868		6,024			—			7,959
	1,870			308,940			73,523			767,711		185,835			(490,307		)	847,572
Operating income (loss)	83,051			(33,726		)	37,661			39,864		124,324			—			251,174
Interest (income) expense, net	16,519			13,031			17,637			37,539		(22,974		)	—			61,752
Net effect of swaps	(2,266		)	(3,485		)	—			—		—			—			(5,751		)
Loss on early debt extinguishment	—			187			—			886		—			—			1,073
Loss on foreign currency	—			36			11,988			—		—			—			12,024
Other (income) expense	186			(61,404		)	3,270			—		57,573			—			(375		)
Income from investment in affiliates	(89,426		)	(74,345		)	(21,578		)	—		(22,798		)	208,147			—
Income before taxes	158,038			92,254			26,344			1,439		112,523			(208,147		)	182,451
Provision for taxes	8,888			2,829			3,545			1,439		16,600			—			33,301
Net income	$	149,150		$	89,425		$	22,799		$	—	$	95,923		$	(208,147	)	$	149,150
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	5,990			—			5,990			—		—			(5,990		)	5,990
Unrealized gain on cash flow hedging derivatives	6,250			2,085			—			—		—			(2,085		)	6,250
Other comprehensive income (loss), (net of tax)	12,240			2,085			5,990			—		—			(8,075		)	12,240
Total comprehensive income	$	161,390		$	91,510		$	28,789		$	—	$	95,923		$	(216,222	)	$	161,390

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)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	92,672		$	262,739		$	114,141		$	788,737	$	322,763		$	(487,247	)	$	1,093,805
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,569			66,537		15,270			—			92,376
Operating expenses	—			248,047			37,701			616,134		32,744			(487,247		)	447,379
Selling, general and administrative	2,254			51,358			8,592			73,098		15,840			—			151,142
Depreciation and amortization	—			26			12,869			—		113,342			—			126,237
Loss on impairment / retirement of fixed assets, net	—			—			542			1,511		1,004			—			3,057
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	2,254			297,554			70,273			757,280		178,200			(487,247		)	818,314
Operating income (loss)	90,418			(34,815		)	43,868			31,457		144,563			—			275,491
Interest (income) expense, net	18,285			13,893			18,317			26,747		(15,169		)	—			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			1,754		164,649			(301,286		)	221,698
Provision (benefit) for taxes	8,917			(1,223		)	23,473			1,754		30,848			—			63,769
Net income	$	157,929		$	108,836		$	58,649		$	—	$	133,801		$	(301,286	)	$	157,929
Other comprehensive income (loss), (net of tax):
Cumulative 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

Condensed Consolidating Statement of Cash Flows

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	95,426		$	13,190		$	41,319		$	188,005		$	(3,506	)	$	334,434
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(31,877		)	(21,515		)	53,392			—
Capital expenditures	—			—			(16,355		)	(129,361		)	—			(145,716		)
Net cash for investing activities	—			—			(48,232		)	(150,876		)	53,392			(145,716		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394			(3,002		)	—			—			(53,392		)	—
Distributions paid to partners	(151,820		)	—			—			—			968			(150,852		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,200		)	—			(2,521		)
Exercise of limited partnership unit options	—			125			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(3,049		)	—			—			—			(3,049		)
Payments related to tax withholding for equity compensation	—			(6,943		)	—			—			—			(6,943		)
Net cash for financing activities	(95,426		)	(13,190		)	—			(2,200		)	(52,424		)	(163,240		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(967		)	—			—			(967		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	—			—			(7,880		)	34,929			(2,538		)	24,511
Balance, beginning of period	—			—			85,758			81,582			(1,095		)	166,245
Balance, end of period	$	—		$	—		$	77,878		$	116,511		$	(3,633	)	$	190,756

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
Capital expenditures	—			(25		)	(5,679		)	(146,735		)	—			(152,439		)
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 23, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	95,426		$	13,190		$	41,319		$	136,066		$	51,939		$	(3,506	)	$	334,434
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(31,877		)	—			(21,515		)	53,392			—
Capital expenditures	—			—			(16,355		)	(98,973		)	(30,388		)	—			(145,716		)
Net cash for investing activities	—			—			(48,232		)	(98,973		)	(51,903		)	53,392			(145,716		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394			(3,002		)	—			—			—			(53,392		)	—
Distributions paid to partners	(151,820		)	—			—			—			—			968			(150,852		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,200		)	—			—			(2,521		)
Exercise of limited partnership unit options	—			125			—			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(3,049		)	—			—			—			—			(3,049		)
Payments related to tax withholding for equity compensation	—			(6,943		)	—			—			—			—			(6,943		)
Net cash for financing activities	(95,426		)	(13,190		)	—			(2,200		)	—			(52,424		)	(163,240		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(967		)	—			—			—			(967		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	—			—			(7,880		)	34,893			36			(2,538		)	24,511
Balance, beginning of period	—			—			85,758			80,430			1,152			(1,095		)	166,245
Balance, end of period	$	—		$	—		$	77,878		$	115,323		$	1,188		$	(3,633	)	$	190,756

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)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	61,966		$	(3,954	)	$	40,125		$	103,553		$	124,035		$	(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
Capital expenditures	—			(25		)	(5,679		)	(125,726		)	(21,009		)	—			(152,439		)
Net cash from (for) investing activities	338,000			18,756			(5,679		)	(125,726		)	(122,699		)	(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			101,079			1,336			(1,669		)	127,230
Balance, beginning of period	—			—			65,563			57,825			353			(1,025		)	122,716
Balance, end of period	$	—		$	—		$	92,047		$	158,904		$	1,689		$	(2,694	)	$	249,946

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Significant Accounting and Reporting Policies (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jan. 01, 2018	Mar. 25, 2018	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred revenue			$ 102,326	$ 86,131	$ 83,340
Deferred revenue percentage, season-long products	88.00%
Revenue from contract with customer			70,800
Allowance for doubtful accounts receivable			$ 10,700	$ 2,200	$ 10,600
Reclassification of stranded tax effect		$ 400
Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating period			130 days
Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating period			140 days

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Interim Reporting (Details)	9 Months Ended
	Sep. 23, 2018 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	4
Winterfest parks	5
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
	Dec. 31, 2017 USD ($)	Sep. 25, 2016 USD ($) a property	Sep. 23, 2018 USD ($)	Sep. 24, 2017 USD ($)
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
Wildwater Kingdom [Member]
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets held-for-use	$ 7,600,000
Wildwater Kingdom [Member] | Other Assets [Member]
Property, Plant and Equipment [Line Items]
Impairment of real estate		$ 0
Assets held-for-sale	$ 9,000,000		$ 9,000,000	$ 16,500,000

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Goodwill and Other Intangible Assets Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017
Goodwill [Roll Forward]
Goodwill (gross), beginning of period	$ 263,698	$ 259,528
Accumulated Impairment Losses, beginning of period	(79,868)	(79,868)
Goodwill (net), beginning of period	183,830	179,660
Foreign currency translation	(1,826)	5,350
Goodwill (gross), end of period	261,872	264,878
Accumulated Impairment Losses, ending of period	(79,868)	(79,868)
Goodwill (net), end of period	$ 182,004	$ 185,010

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Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (2,345)	$ (1,827)	$ (1,623)
Total other intangible assets, gross carrying amount	39,476	39,891	40,155
Total other intangibe assets, net carrying value	37,131	38,064	38,532
License / Franchise Agreements [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	3,351	3,360	3,361
Accumulated Amortization	(2,345)	(1,827)	(1,623)
Net Carrying Value	1,006	1,533	1,738
Trade Names [Member]
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Carrying Amount/Value	$ 36,125	$ 36,531	$ 36,794

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Long-Term Debt Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,685,000	$ 1,685,000	$ 1,685,000
Current maturities of long-term debt	(3,750)	0	0
Long-term debt, excluding current maturities, gross	1,681,250	1,685,000	1,685,000
Deferred finance costs	(22,964)	(24,485)	(25,374)
Total long-term debt	$ 1,658,286	1,660,515	1,659,626
April 2017 Notes [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Long-term debt, gross	$ 500,000	500,000	500,000
5.375% Note [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Long-term debt, gross	$ 450,000	450,000	450,000
Senior Secured Term Loan [Member] | 2017 Credit Agreement [Member]
Debt Instrument [Line Items]
Interest rate during period	3.59%
Long-term debt, gross	$ 735,000	$ 735,000	$ 735,000

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Long-Term Debt Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2017	Sep. 23, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017	Dec. 31, 2017	Mar. 14, 2018	Jun. 30, 2014	Mar. 31, 2013
Debt Instrument [Line Items]
Loss on early debt extinguishment		$ 0	$ 0	$ 1,073,000	$ 23,115,000	$ 23,100,000
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
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	$ 7,700,000
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
Original issue discount							$ 900,000
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%
London Interbank Offered Rate (LIBOR) [Member] | 2017 Credit Agreement [Member] | Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Effective interest rate percentage							1.75%

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Derivative Financial Instruments (Narrative) (Details) - Cash Flow Hedging [Member] $ in Millions	Sep. 23, 2018 USD ($) contract	Mar. 27, 2016 USD ($) contract
Interest Rate Swap at 4.39% [Member]
Derivative [Line Items]
Number of derivative instruments | contract		4
Derivative, amount of hedged item | $		$ 500
Average rate		4.39%
Interest Rate Swap at 4.63% [Member]
Derivative [Line Items]
Number of derivative instruments | contract	4
Derivative, amount of hedged item | $	$ 500
Derivative, forward interest rate	4.627%

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Derivative Financial Instruments Balance Sheet Location (Details) - USD ($) $ in Thousands	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 0	$ (8,722)	$ (14,849)
Interest Rate Swap [Member] | Not Designated As Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative asset	$ 4,123
Derivative Liability		$ (8,722)	$ (14,849)

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Derivative Financial Instruments Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017
Derivative [Line Items]
Net effect of swaps	$ (1,217)	$ (952)	$ (5,751)	$ 3,717
Interest Rate Swap [Member]
Derivative [Line Items]
Amortization of deferred hedge gains	2,364	2,366	7,094	7,095
Cash Flow Hedging [Member] | Forward-Starting Interest Rate Swap [Member]
Derivative [Line Items]
Accumulated other comprehensive income (loss) related to cash flow hedges	(2,400)		(2,400)
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	$ 3,581	$ 3,318	$ 12,845	$ 3,378

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Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2017	Sep. 23, 2018	Sep. 24, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred finance costs	$ 24,485	$ 22,964	$ 25,374
Other Assets [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		4,123
Derivative Liability [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	(8,722)		(14,849)
Reported Value Measurement [Member] | Other Assets [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		4,123
Reported Value Measurement [Member] | Derivative Liability [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	(8,722)		(14,849)
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	(742,350)	(734,906)	(740,513)
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)	(731,250)	(735,000)
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	(469,125)	(450,000)	(472,500)
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	(525,000)	(485,000)	(527,500)
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)	(500,000)	(500,000)
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	736	1,081	688
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	736	$ 1,081	$ 688
Wildwater Kingdom [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets held-for-use	$ 7,600

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Earnings per Unit (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017
Earnings Per Unit [Abstract]
Basic weighted average units outstanding (in shares)	56,231	56,078	56,205	56,062
Effect of dilutive units:
Deferred units (in shares)	46	44	46	41
Performance units (in shares)	0	0	49	48
Restricted units (in shares)	277	284	289	292
Unit options (in shares)	142	185	164	188
Diluted weighted average units outstanding (in shares)	56,696	56,591	56,753	56,631
Net income (loss) per limited partner unit - basic (in dollars per share)	$ 3.79	$ 3.41	$ 2.65	$ 2.82
Net income (loss) per limited partner unit - diluted (in dollars per share)	$ 3.76	$ 3.38	$ 2.63	$ 2.79

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Income and Partnership Taxes Unrecognized Tax Position (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2017	Sep. 23, 2018
Income Tax Disclosure [Abstract]
Unrecognized tax benefit		$ 0.5
Tax Cuts and Jobs Act of 2017, deferred tax liability, existing income tax expense (benefit)	$ 49.2

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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. 23, 2018	Mar. 25, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net current-period other comprehensive income	$ (3,160)		$ (9,149)	$ 12,240	$ (7,104)
Reclassification of stranded tax effect		$ (400)
Provision (benefit) for taxes	(38,770)		(73,747)	(33,301)	(63,769)
OCI before reclassifications, tax	(1,055)			1,247
Gains and Losses on Cash Flow Hedges [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	(4,232)	(7,975)	(11,963)	(7,975)	(15,950)
Other comprehensive income before reclassifications	0		0	0	0
Amounts reclassified from accumulated other comprehensive income	2,116		1,994	6,250	5,981
Net current-period other comprehensive income	2,116		1,994	6,250	5,981
Reclassification of stranded tax effect				(391)
Balance, ending	(2,116)		(9,969)	(2,116)	(9,969)
Foreign Currency Items [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	15,308	4,042	16,949	4,042	18,891
Other comprehensive income before reclassifications	(5,276)		(11,143)	5,990	(13,085)
Amounts reclassified from accumulated other comprehensive income	0		0	0	0
Net current-period other comprehensive income	(5,276)		(11,143)	5,990	(13,085)
Reclassification of stranded tax effect				0
Balance, ending	10,032		5,806	10,032	5,806
AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning	11,076	$ (3,933)	4,986	(3,933)	2,941
Other comprehensive income before reclassifications	(5,276)		(11,143)	5,990	(13,085)
Amounts reclassified from accumulated other comprehensive income	2,116		1,994	6,250	5,981
Net current-period other comprehensive income	(3,160)		(9,149)	12,240	(7,104)
Reclassification of stranded tax effect				(391)
Balance, ending	$ 7,916		$ (4,163)	$ 7,916	$ (4,163)

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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. 23, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Income (Expense), Net	$ (20,934)	$ (21,287)	$ (61,752)	$ (62,073)
Provision (benefit) for taxes	(38,770)	(73,747)	(33,301)	(63,769)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Provision (benefit) for taxes	(249)	(371)	(845)	(1,113)
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	(249)	(371)	(845)	(1,113)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	2,116	1,994	6,250	5,981
Interest Rate Swap [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]
Interest Income (Expense), Net	$ 2,365	$ 2,365	$ 7,095	$ 7,094

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Consolidating Financial Information of Guarantors and Issuers (Details) - Unsecured Debt [Member]	Sep. 23, 2018
Condensed Financial Statements, Captions [Line Items]
Subsidiary ownership percentage, guaranteeing notes	100.00%
Subsidiary guarantor ownership percentage	100.00%

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Consolidating Financial Information of Guarantors and Issuers Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 23, 2018	Dec. 31, 2017	Sep. 24, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 190,756	$ 166,245	$ 249,946	$ 122,716
Receivables	58,398	37,722	52,303
Inventories	36,549	29,719	34,240
Other current assets	21,875	13,297	18,624
Total current assets	307,578	246,983	355,113
Property and equipment (net)	1,588,699	1,585,772	1,580,510
Investment In Park	0	0	0
Goodwill	182,004	183,830	185,010	179,660
Other intangibles, net	37,131	38,064	38,532
Deferred tax asset	0	0	0
Other Assets	13,536	9,510	17,407
Total Assets	2,128,948	2,064,159	2,176,572
Current Liabilities:
Current maturities of long-term debt	3,750	0	0
Accounts payable	32,989	24,621	33,710
Deferred revenue	102,326	86,131	83,340
Accrued interest	21,893	8,124	23,928
Accrued taxes	48,372	43,975	78,657
Accrued salaries, wages and benefits	30,578	18,740	30,666
Self-insurance reserves	25,923	25,107	27,549
Other accrued liabilities	22,232	18,796	20,562
Total current liabilities	288,063	225,494	298,412
Deferred Tax Liability	74,637	74,798	112,671
Derivative Liability	0	8,722	14,849
Other Liabilities	16,292	11,684	15,732
Long-Term Debt:
Term debt	720,846	723,788	723,385
Notes	937,440	936,727	936,241
Total long-term debt	1,658,286	1,660,515	1,659,626
Equity	91,670	82,946	75,282
Total Liabilities and Partners' Equity	2,128,948	2,064,159	2,176,572
June 2014 Notes [Member]
Current Assets:
Cash and cash equivalents	190,756	166,245	249,946	122,716
Receivables	58,398	37,722	52,303
Inventories	36,549	29,719	34,240
Other current assets	21,875	13,297	18,624
Total current assets	307,578	246,983	355,113
Property and equipment (net)	1,588,699	1,585,772	1,580,510
Investment In Park	0	0	0
Goodwill	182,004	183,830	185,010
Other intangibles, net	37,131	38,064	38,532
Deferred tax asset	0	0	0
Other Assets	13,536	9,510	17,407
Total Assets	2,128,948	2,064,159	2,176,572
Current Liabilities:
Current maturities of long-term debt	3,750
Accounts payable	32,989	24,621	33,710
Deferred revenue	102,326	86,131	83,340
Accrued interest	21,893	8,124	23,928
Accrued taxes	48,372	43,975	78,657
Accrued salaries, wages and benefits	30,578	18,740	30,666
Self-insurance reserves	25,923	25,107	27,549
Other accrued liabilities	22,232	18,796	20,562
Total current liabilities	288,063	225,494	298,412
Deferred Tax Liability	74,637	74,798	112,671
Derivative Liability		8,722	14,849
Other Liabilities	16,292	11,684	15,732
Long-Term Debt:
Term debt	720,846	723,788	723,385
Notes	937,440	936,727	936,241
Total long-term debt	1,658,286	1,660,515	1,659,626
Equity	91,670	82,946	75,282
Total Liabilities and Partners' Equity	2,128,948	2,064,159	2,176,572
June 2014 Notes [Member] | Reportable Legal Entities [Member] | Parent Company [Member]
Current Assets:
Cash and cash equivalents	0	0	0	0
Receivables	0	0	0
Inventories	0	0	0
Other current assets	293	164	275
Total current assets	293	164	275
Property and equipment (net)	0	0	0
Investment In Park	648,414	588,684	566,548
Goodwill	674	674	674
Other intangibles, net	0	0	0
Deferred tax asset	0	0	0
Other Assets	1,197	0	0
Total Assets	650,578	589,522	567,497
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	553,952	497,558	478,416
Deferred revenue	0	0	0
Accrued interest	113	27	292
Accrued taxes	1,551	352	1,589
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0	0	0
Other accrued liabilities	3,292	3,406	2,985
Total current liabilities	558,908	501,343	483,282
Deferred Tax Liability	0	0	0
Derivative Liability		5,233	8,933
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	0	0	0
Notes	0	0	0
Total long-term debt	0	0	0
Equity	91,670	82,946	75,282
Total Liabilities and Partners' Equity	650,578	589,522	567,497
June 2014 Notes [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Current Assets:
Cash and cash equivalents	116,511	81,582	160,593	58,178
Receivables	895,263	857,205	837,594
Inventories	34,289	27,828	31,817
Other current assets	19,546	10,983	16,829
Total current assets	1,065,609	977,598	1,046,833
Property and equipment (net)	1,409,366	1,403,264	1,396,463
Investment In Park	246,968	234,238	222,953
Goodwill	119,605	119,605	119,606
Other intangibles, net	23,368	23,887	24,089
Deferred tax asset	0	0	0
Other Assets	9,374	9,470	17,354
Total Assets	2,874,290	2,768,062	2,827,298
Current Liabilities:
Current maturities of long-term debt	3,094
Accounts payable	30,155	18,610	26,141
Deferred revenue	92,929	79,894	76,464
Accrued interest	14,104	6,024	14,232
Accrued taxes	11,011	73,224	74,224
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	13,829	12,542	13,734
Other accrued liabilities	11,559	10,139	9,306
Total current liabilities	176,681	200,433	214,101
Deferred Tax Liability	81,945	81,945	125,350
Derivative Liability		0	0
Other Liabilities	14,934	10,811	14,073
Long-Term Debt:
Term debt	594,046	596,351	595,983
Notes	491,594	491,571	491,367
Total long-term debt	1,085,640	1,087,922	1,087,350
Equity	1,515,090	1,386,951	1,386,424
Total Liabilities and Partners' Equity	2,874,290	2,768,062	2,827,298
June 2014 Notes [Member] | Eliminations [Member]
Current Assets:
Cash and cash equivalents	(3,633)	(1,095)	(2,694)	(1,025)
Receivables	(885,049)	(836,241)	(819,734)
Inventories	0	0	0
Other current assets	(2,728)	(29,601)	(12,066)
Total current assets	(891,410)	(866,937)	(834,494)
Property and equipment (net)	0	0	0
Investment In Park	(2,360,178)	(2,106,694)	(2,030,822)
Goodwill	0	0	0
Other intangibles, net	0	0	0
Deferred tax asset	(19,870)	(20,956)	(32,190)
Other Assets	0	0	0
Total Assets	(3,271,458)	(2,994,587)	(2,897,506)
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	(888,682)	(837,336)	(822,428)
Deferred revenue	0	0	0
Accrued interest	0	0	0
Accrued taxes	(2,728)	(29,601)	(12,066)
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0		0
Other accrued liabilities	0	0	0
Total current liabilities	(891,410)	(866,937)	(834,494)
Deferred Tax Liability	(19,870)	(20,956)	(32,190)
Derivative Liability		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
Equity	(2,360,178)	(2,106,694)	(2,030,822)
Total Liabilities and Partners' Equity	(3,271,458)	(2,994,587)	(2,897,506)
June 2014 Notes [Member] | Co-Issuer Subsidiary (Magnum) [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Current Assets:
Cash and cash equivalents	0	0	0	0
Receivables	991	1,184	1,285
Inventories	0	0	0
Other current assets	1,170	28,297	12,843
Total current assets	2,161	29,481	14,128
Property and equipment (net)	811	835	842
Investment In Park	1,205,086	1,045,640	1,016,857
Goodwill	0	0	0
Other intangibles, net	0	0	0
Deferred tax asset	19,870	20,956	32,190
Other Assets	2,926	0	0
Total Assets	1,230,854	1,096,912	1,064,017
Current Liabilities:
Current maturities of long-term debt	656
Accounts payable	334,696	344,410	345,150
Deferred revenue	0	0	0
Accrued interest	75	18	195
Accrued taxes	38,538	0	0
Accrued salaries, wages and benefits	28,162	17,498	28,306
Self-insurance reserves	10,459	10,947	12,090
Other accrued liabilities	6,796	5,094	7,772
Total current liabilities	419,382	377,967	393,513
Deferred Tax Liability	0	0	0
Derivative Liability		3,489	5,916
Other Liabilities	968	873	1,398
Long-Term Debt:
Term debt	126,800	127,437	127,402
Notes	0	0	0
Total long-term debt	126,800	127,437	127,402
Equity	683,704	587,146	535,788
Total Liabilities and Partners' Equity	1,230,854	1,096,912	1,064,017
June 2014 Notes [Member] | Co-Issuer Subsidiary (Cedar Canada) [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Current Assets:
Cash and cash equivalents	77,878	85,758	92,047	65,563
Receivables	47,193	15,574	33,158
Inventories	2,260	1,891	2,423
Other current assets	3,594	3,454	743
Total current assets	130,925	106,677	128,371
Property and equipment (net)	178,522	181,673	183,205
Investment In Park	259,710	238,132	224,464
Goodwill	61,725	63,551	64,730
Other intangibles, net	13,763	14,177	14,443
Deferred tax asset	0	0	0
Other Assets	39	40	53
Total Assets	644,684	604,250	615,266
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	2,868	1,379	6,431
Deferred revenue	9,397	6,237	6,876
Accrued interest	7,601	2,055	9,209
Accrued taxes	0	0	14,910
Accrued salaries, wages and benefits	2,416	1,242	2,360
Self-insurance reserves	1,635	1,618	1,725
Other accrued liabilities	585	157	499
Total current liabilities	24,502	12,688	42,010
Deferred Tax Liability	12,562	13,809	19,511
Derivative Liability		0	0
Other Liabilities	390	0	261
Long-Term Debt:
Term debt	0	0	0
Notes	445,846	445,156	444,874
Total long-term debt	445,846	445,156	444,874
Equity	161,384	132,597	108,610
Total Liabilities and Partners' Equity	644,684	604,250	615,266
April 2017 Notes [Member] | Reportable Legal Entities [Member] | Parent Company [Member]
Current Assets:
Cash and cash equivalents	0	0	0	0
Receivables	0	0	0
Inventories	0	0	0
Other current assets	293	164	275
Total current assets	293	164	275
Property and equipment (net)	0	0	0
Investment In Park	648,414	588,684	566,548
Goodwill	674	674	674
Other intangibles, net	0	0	0
Deferred tax asset	0	0	0
Other Assets	1,197	0	0
Total Assets	650,578	589,522	567,497
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	553,952	497,558	478,416
Deferred revenue	0	0	0
Accrued interest	113	27	292
Accrued taxes	1,551	352	1,589
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0	0	0
Other accrued liabilities	3,292	3,406	2,985
Total current liabilities	558,908	501,343	483,282
Deferred Tax Liability	0	0	0
Derivative Liability		5,233	8,933
Other Liabilities	0	0	0
Long-Term Debt:
Term debt	0	0	0
Notes	0	0	0
Total long-term debt	0	0	0
Equity	91,670	82,946	75,282
Total Liabilities and Partners' Equity	650,578	589,522	567,497
April 2017 Notes [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Current Assets:
Cash and cash equivalents	1,188	1,152	1,689	353
Receivables	858,552	831,075	805,545
Inventories	6,084	5,300	5,659
Other current assets	3,675	1,642	3,955
Total current assets	869,499	839,169	816,848
Property and equipment (net)	1,409,366	1,403,264	1,396,463
Investment In Park	246,968	234,237	222,953
Goodwill	111,217	111,218	111,218
Other intangibles, net	23,368	23,887	24,089
Deferred tax asset	0	0	0
Other Assets	9,062	9,068	16,907
Total Assets	2,669,480	2,620,843	2,588,478
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	6,825	5,038	5,047
Deferred revenue	26,587	20,587	23,344
Accrued interest	0	0	0
Accrued taxes	1,442	67,048	65,200
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	1,973	2,386	2,209
Other accrued liabilities	4,622	4,490	4,584
Total current liabilities	41,449	99,549	100,384
Deferred Tax Liability	81,945	81,945	125,350
Derivative Liability		0	0
Other Liabilities	11,630	10,691	11,992
Long-Term Debt:
Term debt	0	0	0
Notes	0	0	0
Total long-term debt	0	0	0
Equity	2,534,456	2,428,658	2,350,752
Total Liabilities and Partners' Equity	2,669,480	2,620,843	2,588,478
April 2017 Notes [Member] | Eliminations [Member]
Current Assets:
Cash and cash equivalents	(3,633)	(1,095)	(2,694)	(1,025)
Receivables	(885,049)	(836,241)	(819,734)
Inventories	0	0	0
Other current assets	(2,728)	(29,601)	(12,066)
Total current assets	(891,410)	(866,937)	(834,494)
Property and equipment (net)	0	0	0
Investment In Park	(3,850,844)	(3,499,454)	(3,401,117)
Goodwill	0	0	0
Other intangibles, net	0	0	0
Deferred tax asset	(19,870)	(20,956)	(32,190)
Other Assets	0	0	0
Total Assets	(4,762,124)	(4,387,347)	(4,267,801)
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	(888,682)	(837,336)	(822,428)
Deferred revenue	0	0	0
Accrued interest	0	0	0
Accrued taxes	(2,728)	(29,601)	(12,066)
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	0	0	0
Other accrued liabilities	0	0	0
Total current liabilities	(891,410)	(866,937)	(834,494)
Deferred Tax Liability	(19,870)	(20,956)	(32,190)
Derivative Liability		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
Equity	(3,850,844)	(3,499,454)	(3,401,117)
Total Liabilities and Partners' Equity	(4,762,124)	(4,387,347)	(4,267,801)
April 2017 Notes [Member] | Co-Issuer Subsidiary (Magnum) [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Current Assets:
Cash and cash equivalents	0	0	0	0
Receivables	991	1,184	1,285
Inventories	0	0	0
Other current assets	1,170	28,297	12,843
Total current assets	2,161	29,481	14,128
Property and equipment (net)	811	835	842
Investment In Park	1,205,086	1,045,640	1,016,857
Goodwill	0	0	0
Other intangibles, net	0	0	0
Deferred tax asset	19,870	20,956	32,190
Other Assets	2,926	0	0
Total Assets	1,230,854	1,096,912	1,064,017
Current Liabilities:
Current maturities of long-term debt	656
Accounts payable	334,696	344,410	345,150
Deferred revenue	0	0	0
Accrued interest	75	18	195
Accrued taxes	38,538	0	0
Accrued salaries, wages and benefits	28,162	17,498	28,306
Self-insurance reserves	10,459	10,947	12,090
Other accrued liabilities	6,796	5,094	7,772
Total current liabilities	419,382	377,967	393,513
Deferred Tax Liability	0	0	0
Derivative Liability		3,489	5,916
Other Liabilities	968	873	1,398
Long-Term Debt:
Term debt	126,800	127,437	127,402
Notes	0	0	0
Total long-term debt	126,800	127,437	127,402
Equity	683,704	587,146	535,788
Total Liabilities and Partners' Equity	1,230,854	1,096,912	1,064,017
April 2017 Notes [Member] | Co-Issuer Subsidiary (Cedar Canada) [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Current Assets:
Cash and cash equivalents	77,878	85,758	92,047	65,563
Receivables	47,193	15,574	33,158
Inventories	2,260	1,891	2,423
Other current assets	3,594	3,454	743
Total current assets	130,925	106,677	128,371
Property and equipment (net)	178,522	181,673	183,205
Investment In Park	259,710	238,132	224,464
Goodwill	61,725	63,551	64,730
Other intangibles, net	13,763	14,177	14,443
Deferred tax asset	0	0	0
Other Assets	39	40	53
Total Assets	644,684	604,250	615,266
Current Liabilities:
Current maturities of long-term debt	0
Accounts payable	2,868	1,379	6,431
Deferred revenue	9,397	6,237	6,876
Accrued interest	7,601	2,055	9,209
Accrued taxes	0	0	14,910
Accrued salaries, wages and benefits	2,416	1,242	2,360
Self-insurance reserves	1,635	1,618	1,725
Other accrued liabilities	585	157	499
Total current liabilities	24,502	12,688	42,010
Deferred Tax Liability	12,562	13,809	19,511
Derivative Liability		0	0
Other Liabilities	390	0	261
Long-Term Debt:
Term debt	0	0	0
Notes	445,846	445,156	444,874
Total long-term debt	445,846	445,156	444,874
Equity	161,384	132,597	108,610
Total Liabilities and Partners' Equity	644,684	604,250	615,266
April 2017 Notes [Member] | Co-Issuer Subsidiary (Millennium) [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Current Assets:
Cash and cash equivalents	115,323	80,430	158,904	$ 57,825
Receivables	36,711	26,130	32,049
Inventories	28,205	22,528	26,158
Other current assets	15,871	9,341	12,874
Total current assets	196,110	138,429	229,985
Property and equipment (net)	0	0	0
Investment In Park	1,490,666	1,392,761	1,370,295
Goodwill	8,388	8,387	8,388
Other intangibles, net	0	0	0
Deferred tax asset	0	0	0
Other Assets	312	402	447
Total Assets	1,695,476	1,539,979	1,609,115
Current Liabilities:
Current maturities of long-term debt	3,094
Accounts payable	23,330	13,572	21,094
Deferred revenue	66,342	59,307	53,120
Accrued interest	14,104	6,024	14,232
Accrued taxes	9,569	6,176	9,024
Accrued salaries, wages and benefits	0	0	0
Self-insurance reserves	11,856	10,156	11,525
Other accrued liabilities	6,937	5,649	4,722
Total current liabilities	135,232	100,884	113,717
Deferred Tax Liability	0	0	0
Derivative Liability		0	0
Other Liabilities	3,304	120	2,081
Long-Term Debt:
Term debt	594,046	596,351	595,983
Notes	491,594	491,571	491,367
Total long-term debt	1,085,640	1,087,922	1,087,350
Equity	471,300	351,053	405,967
Total Liabilities and Partners' Equity	$ 1,695,476	$ 1,539,979	$ 1,609,115

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Consolidating Financial Information of Guarantors and Issuers Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 23, 2018	Sep. 24, 2017	Sep. 23, 2018	Sep. 24, 2017	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net revenues	$ 663,703	$ 652,689	$ 1,098,746	$ 1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	53,891	52,647	94,912	92,376
Operating expenses	206,505	202,710	462,750	447,379
Selling, general and administrative	67,114	71,663	149,837	151,142
Depreciation and amortization	74,374	70,060	132,114	126,237
Loss on impairment / retirement of fixed assets, net	3,247	1,347	7,959	3,057
Gain on sale of investment	0	(1,877)	0	(1,877)
Total costs and expenses	405,131	396,550	847,572	818,314
Operating income	258,572	256,139	251,174	275,491
Interest (income) expense, net	20,934	21,287	61,752	62,073
Net effect of swaps	(1,217)	(952)	(5,751)	3,717
Loss on early debt extinguishment	0	0	1,073	23,115	$ 23,100
Loss (gain) on foreign currency	(13,054)	(29,193)	12,024	(35,047)
Other (income) expense	(168)	(65)	(375)	(65)
(Income) loss from investment in affiliates	0	0	0	0
Income before taxes	252,077	265,062	182,451	221,698
Provision for taxes	38,770	73,747	33,301	63,769
Net income	213,307	191,315	149,150	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	2,116	1,994	6,250	5,981
Other comprehensive income (loss), (net of tax)	(3,160)	(9,149)	12,240	(7,104)
Total comprehensive income	210,147	182,166	161,390	150,825
June 2014 Notes [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	663,703	652,689	1,098,746	1,093,805
Costs and expenses:
Cost of food, merchandise, and games revenues	53,891	52,647	94,912	92,376
Operating expenses	206,505	202,710	462,750	447,379
Selling, general and administrative	67,114	71,663	149,837	151,142
Depreciation and amortization	74,374	70,060	132,114	126,237
Loss on impairment / retirement of fixed assets, net	3,247	1,347	7,959	3,057
Gain on sale of investment		(1,877)		(1,877)
Total costs and expenses	405,131	396,550	847,572	818,314
Operating income	258,572	256,139	251,174	275,491
Interest (income) expense, net	20,934	21,287	61,752	62,073
Net effect of swaps	(1,217)	(952)	(5,751)	3,717
Loss on early debt extinguishment			1,073	23,115
Loss (gain) on foreign currency	(13,054)	(29,193)	12,024	(35,047)
Other (income) expense	(168)	(65)	(375)	(65)
(Income) loss from investment in affiliates	0	0	0	0
Income before taxes	252,077	265,062	182,451	221,698
Provision for taxes	38,770	73,747	33,301	63,769
Net income	213,307	191,315	149,150	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	2,116	1,994	6,250	5,981
Other comprehensive income (loss), (net of tax)	(3,160)	(9,149)	12,240	(7,104)
Total comprehensive income	210,147	182,166	161,390	150,825
June 2014 Notes [Member] | Reportable Legal Entities [Member] | Cedar Fair L.P. (Parent) [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	71,751	69,999	84,921	92,672
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	0	0	0	0
Selling, general and administrative	185	327	1,870	2,254
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	185	327	1,870	2,254
Operating income	71,566	69,672	83,051	90,418
Interest (income) expense, net	5,879	4,857	16,519	18,285
Net effect of swaps	265	(578)	(2,266)	2,162
Loss on early debt extinguishment			0	11,773
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	63	62	186	187
(Income) loss from investment in affiliates	(153,756)	(132,699)	(89,426)	(108,835)
Income before taxes	219,115	198,030	158,038	166,846
Provision for taxes	5,808	6,715	8,888	8,917
Net income	213,307	191,315	149,150	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	2,116	1,994	6,250	5,981
Other comprehensive income (loss), (net of tax)	(3,160)	(9,149)	12,240	(7,104)
Total comprehensive income	210,147	182,166	161,390	150,825
June 2014 Notes [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	613,094	596,837	1,023,713	1,019,399
Costs and expenses:
Cost of food, merchandise, and games revenues	46,871	44,912	84,708	81,807
Operating expenses	349,145	334,008	560,759	556,777
Selling, general and administrative	41,681	45,045	88,395	88,938
Depreciation and amortization	65,987	62,195	117,771	113,342
Loss on impairment / retirement of fixed assets, net	3,247	1,260	7,892	2,515
Gain on sale of investment		0		0
Total costs and expenses	506,931	487,420	859,525	843,379
Operating income	106,163	109,417	164,188	176,020
Interest (income) expense, net	4,997	5,973	14,565	11,578
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			886	2,956
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	27,134	25,386	57,573	53,731
(Income) loss from investment in affiliates	(56,985)	(58,378)	(22,798)	(58,648)
Income before taxes	131,017	136,436	113,962	166,403
Provision for taxes	13,878	21,074	18,039	32,602
Net income	117,139	115,362	95,923	133,801
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized loss on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	0	0	0	0
Total comprehensive income	117,139	115,362	95,923	133,801
June 2014 Notes [Member] | Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	(285,240)	(269,539)	(396,286)	(395,146)
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	(285,240)	(269,539)	(396,286)	(395,146)
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	(285,240)	(269,539)	(396,286)	(395,146)
Operating income	0	0	0	0
Interest (income) expense, net	0	0	0	0
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			0	0
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	0	0	0	0
(Income) loss from investment in affiliates	327,879	306,442	208,147	301,286
Income before taxes	(327,879)	(306,442)	(208,147)	(301,286)
Provision for taxes	0	0	0	0
Net income	(327,879)	(306,442)	(208,147)	(301,286)
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	5,276	11,143	(5,990)	13,085
Unrealized loss on cash flow hedging derivatives	(728)	(605)	(2,085)	(1,816)
Other comprehensive income (loss), (net of tax)	4,548	10,538	(8,075)	11,269
Total comprehensive income	(323,331)	(295,904)	(216,222)	(290,017)
April 2017 Notes [Member] | Reportable Legal Entities [Member] | Cedar Fair L.P. (Parent) [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	71,751	69,999	84,921	92,672
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	0	0	0	0
Selling, general and administrative	185	327	1,870	2,254
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	185	327	1,870	2,254
Operating income	71,566	69,672	83,051	90,418
Interest (income) expense, net	5,879	4,857	16,519	18,285
Net effect of swaps	265	(578)	(2,266)	2,162
Loss on early debt extinguishment			0	11,773
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	63	62	186	187
(Income) loss from investment in affiliates	(153,756)	(132,699)	(89,426)	(108,835)
Income before taxes	219,115	198,030	158,038	166,846
Provision for taxes	5,808	6,715	8,888	8,917
Net income	213,307	191,315	149,150	157,929
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	2,116	1,994	6,250	5,981
Other comprehensive income (loss), (net of tax)	(3,160)	(9,149)	12,240	(7,104)
Total comprehensive income	210,147	182,166	161,390	150,825
April 2017 Notes [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	189,672	189,586	310,159	322,763
Costs and expenses:
Cost of food, merchandise, and games revenues	8,737	8,611	15,080	15,270
Operating expenses	12,276	12,519	32,137	32,744
Selling, general and administrative	7,103	9,024	14,823	15,840
Depreciation and amortization	65,987	62,195	117,771	113,342
Loss on impairment / retirement of fixed assets, net	2,825	522	6,024	1,004
Gain on sale of investment		0		0
Total costs and expenses	96,928	92,871	185,835	178,200
Operating income	92,744	96,715	124,324	144,563
Interest (income) expense, net	(7,943)	(6,194)	(22,974)	(15,169)
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			0	0
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	27,134	25,386	57,573	53,731
(Income) loss from investment in affiliates	(56,985)	(58,378)	(22,798)	(58,648)
Income before taxes	130,538	135,901	112,523	164,649
Provision for taxes	13,399	20,539	16,600	30,848
Net income	117,139	115,362	95,923	133,801
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized loss on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	0	0	0	0
Total comprehensive income	117,139	115,362	95,923	133,801
April 2017 Notes [Member] | Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	(336,529)	(319,818)	(490,307)	(487,247)
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	(336,529)	(319,818)	(490,307)	(487,247)
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	(336,529)	(319,818)	(490,307)	(487,247)
Operating income	0	0	0	0
Interest (income) expense, net	0	0	0	0
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			0	0
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	0	0	0	0
(Income) loss from investment in affiliates	327,879	306,442	208,147	301,286
Income before taxes	(327,879)	(306,442)	(208,147)	(301,286)
Provision for taxes	0	0	0	0
Net income	(327,879)	(306,442)	(208,147)	(301,286)
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	5,276	11,143	(5,990)	13,085
Unrealized loss on cash flow hedging derivatives	(728)	(605)	(2,085)	(1,816)
Other comprehensive income (loss), (net of tax)	4,548	10,538	(8,075)	11,269
Total comprehensive income	(323,331)	(295,904)	(216,222)	(290,017)
Co-Issuer Subsidiary (Magnum) [Member] | June 2014 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	182,833	169,429	275,214	262,739
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	122,455	118,614	258,162	248,047
Selling, general and administrative	20,666	21,752	50,754	51,358
Depreciation and amortization	8	9	24	26
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	143,129	138,498	308,940	297,554
Operating income	39,704	30,931	(33,726)	(34,815)
Interest (income) expense, net	4,072	4,305	13,031	13,893
Net effect of swaps	(1,482)	(374)	(3,485)	1,555
Loss on early debt extinguishment			187	8,188
Loss (gain) on foreign currency	15	(27)	36	(27)
Other (income) expense	(28,849)	(26,676)	(61,404)	(56,623)
(Income) loss from investment in affiliates	(100,629)	(98,522)	(74,345)	(109,414)
Income before taxes	166,577	152,225	92,254	107,613
Provision for taxes	12,823	19,526	2,829	(1,223)
Net income	153,754	132,699	89,425	108,836
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized loss on cash flow hedging derivatives	728	605	2,085	1,816
Other comprehensive income (loss), (net of tax)	728	605	2,085	1,816
Total comprehensive income	154,482	133,304	91,510	110,652
Co-Issuer Subsidiary (Magnum) [Member] | April 2017 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	182,833	169,429	275,214	262,739
Costs and expenses:
Cost of food, merchandise, and games revenues	0	0	0	0
Operating expenses	122,455	118,614	258,162	248,047
Selling, general and administrative	20,666	21,752	50,754	51,358
Depreciation and amortization	8	9	24	26
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	143,129	138,498	308,940	297,554
Operating income	39,704	30,931	(33,726)	(34,815)
Interest (income) expense, net	4,072	4,305	13,031	13,893
Net effect of swaps	(1,482)	(374)	(3,485)	1,555
Loss on early debt extinguishment			187	8,188
Loss (gain) on foreign currency	15	(27)	36	(27)
Other (income) expense	(28,849)	(26,676)	(61,404)	(56,623)
(Income) loss from investment in affiliates	(100,629)	(98,522)	(74,345)	(109,414)
Income before taxes	166,577	152,225	92,254	107,613
Provision for taxes	12,823	19,526	2,829	(1,223)
Net income	153,754	132,699	89,425	108,836
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized loss on cash flow hedging derivatives	728	605	2,085	1,816
Other comprehensive income (loss), (net of tax)	728	605	2,085	1,816
Total comprehensive income	154,482	133,304	91,510	110,652
Co-Issuer Subsidiary (Cedar Canada) [Member] | June 2014 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	81,265	85,963	111,184	114,141
Costs and expenses:
Cost of food, merchandise, and games revenues	7,020	7,735	10,204	10,569
Operating expenses	20,145	19,627	40,115	37,701
Selling, general and administrative	4,582	4,539	8,818	8,592
Depreciation and amortization	8,379	7,856	14,319	12,869
Loss on impairment / retirement of fixed assets, net	0	87	67	542
Gain on sale of investment		0		0
Total costs and expenses	40,126	39,844	73,523	70,273
Operating income	41,139	46,119	37,661	43,868
Interest (income) expense, net	5,986	6,152	17,637	18,317
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			0	198
Loss (gain) on foreign currency	(13,069)	(29,166)	11,988	(35,020)
Other (income) expense	1,484	1,163	3,270	2,640
(Income) loss from investment in affiliates	(16,509)	(16,843)	(21,578)	(24,389)
Income before taxes	63,247	84,813	26,344	82,122
Provision for taxes	6,261	26,432	3,545	23,473
Net income	56,986	58,381	22,799	58,649
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	(5,276)	(11,143)	5,990	(13,085)
Total comprehensive income	51,710	47,238	28,789	45,564
Co-Issuer Subsidiary (Cedar Canada) [Member] | April 2017 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	81,265	85,963	111,184	114,141
Costs and expenses:
Cost of food, merchandise, and games revenues	7,020	7,735	10,204	10,569
Operating expenses	20,145	19,627	40,115	37,701
Selling, general and administrative	4,582	4,539	8,818	8,592
Depreciation and amortization	8,379	7,856	14,319	12,869
Loss on impairment / retirement of fixed assets, net	0	87	67	542
Gain on sale of investment		0		0
Total costs and expenses	40,126	39,844	73,523	70,273
Operating income	41,139	46,119	37,661	43,868
Interest (income) expense, net	5,986	6,152	17,637	18,317
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			0	198
Loss (gain) on foreign currency	(13,069)	(29,166)	11,988	(35,020)
Other (income) expense	1,484	1,163	3,270	2,640
(Income) loss from investment in affiliates	(16,509)	(16,843)	(21,578)	(24,389)
Income before taxes	63,247	84,813	26,344	82,122
Provision for taxes	6,261	26,432	3,545	23,473
Net income	56,986	58,381	22,799	58,649
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	(5,276)	(11,143)	5,990	(13,085)
Unrealized loss on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	(5,276)	(11,143)	5,990	(13,085)
Total comprehensive income	51,710	47,238	28,789	45,564
Co-Issuer Subsidiary (Millennium) [Member] | April 2017 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
Net revenues	474,711	457,530	807,575	788,737
Costs and expenses:
Cost of food, merchandise, and games revenues	38,134	36,301	69,628	66,537
Operating expenses	388,158	371,768	622,643	616,134
Selling, general and administrative	34,578	36,021	73,572	73,098
Depreciation and amortization	0	0	0	0
Loss on impairment / retirement of fixed assets, net	422	738	1,868	1,511
Gain on sale of investment		0		0
Total costs and expenses	461,292	444,828	767,711	757,280
Operating income	13,419	12,702	39,864	31,457
Interest (income) expense, net	12,940	12,167	37,539	26,747
Net effect of swaps	0	0	0	0
Loss on early debt extinguishment			886	2,956
Loss (gain) on foreign currency	0	0	0	0
Other (income) expense	0	0	0	0
(Income) loss from investment in affiliates	0	0	0	0
Income before taxes	479	535	1,439	1,754
Provision for taxes	479	535	1,439	1,754
Net income	0	0	0	0
Other comprehensive income (loss), (net of tax):
Foreign currency translation adjustment	0	0	0	0
Unrealized loss on cash flow hedging derivatives	0	0	0	0
Other comprehensive income (loss), (net of tax)	0	0	0	0
Total comprehensive income	$ 0	$ 0	$ 0	$ 0

XML

Consolidating Financial Information of Guarantors and Issuers Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 23, 2018	Sep. 24, 2017
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	$ 334,434	$ 322,618
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		0
Proceeds from sale of investment	0	3,281
Capital expenditures	(145,716)	(152,439)
Net cash for investing activities	(145,716)	(149,158)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	0	0
Payments for returns of capital		0
Term debt borrowings	0	750,000
Note borrowings	0	500,000
Term debt payments	0	(617,850)
Note payments, including amounts paid for early termination	0	(515,458)
Distributions paid to partners	(150,852)	(144,517)
Payment of debt issuance costs and original issue discount	(2,521)	(19,684)
Exercise of limited partnership unit options	125	0
Tax effect of units involved in treasury unit transactions	(3,049)	(2,560)
Payments related to tax withholding for equity compensation	(6,943)	(2,053)
Net cash for financing activities	(163,240)	(52,122)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(967)	5,892
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	24,511	127,230
Balance, beginning of period	166,245	122,716
Balance, end of period	190,756	249,946
April 2017 Notes [Member] | Reportable Legal Entities [Member] | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	95,426	61,966
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		338,000
Proceeds from sale of investment		0
Capital expenditures	0	0
Net cash for investing activities	0	338,000
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394	50,003
Payments for returns of capital		0
Term debt borrowings		0
Note borrowings		0
Term debt payments		0
Note payments, including amounts paid for early termination		(304,014)
Distributions paid to partners	(151,820)	(145,955)
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	(95,426)	(399,966)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	0	0
Balance, beginning of period	0	0
Balance, end of period	0	0
April 2017 Notes [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	51,939	124,035
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	(21,515)	(248,190)
Proceeds from returns on investments		146,500
Proceeds from sale of investment		0
Capital expenditures	(30,388)	(21,009)
Net cash for investing activities	(51,903)	(122,699)
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		0
Note payments, including amounts paid for early termination		0
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	0	0
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	36	1,336
Balance, beginning of period	1,152	353
Balance, end of period	1,188	1,689
April 2017 Notes [Member] | Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	(3,506)	(3,107)
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	53,392	248,190
Proceeds from returns on investments		(500,000)
Proceeds from sale of investment		0
Capital expenditures	0	0
Net cash for investing activities	53,392	(251,810)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	(53,392)	(248,190)
Payments for returns of capital		500,000
Term debt borrowings		0
Note borrowings		0
Term debt payments		0
Note payments, including amounts paid for early termination		0
Distributions paid to partners	968	1,438
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	(52,424)	253,248
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	(2,538)	(1,669)
Balance, beginning of period	(1,095)	(1,025)
Balance, end of period	(3,633)	(2,694)
June 2014 Notes [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	334,434	322,618
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		0
Proceeds from sale of investment		3,281
Capital expenditures	(145,716)	(152,439)
Net cash for investing activities	(145,716)	(149,158)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	0	0
Payments for returns of capital		0
Term debt borrowings		750,000
Note borrowings		500,000
Term debt payments		(617,850)
Note payments, including amounts paid for early termination		(515,458)
Distributions paid to partners	(150,852)	(144,517)
Payment of debt issuance costs and original issue discount	(2,521)	(19,684)
Exercise of limited partnership unit options	125
Tax effect of units involved in treasury unit transactions	(3,049)	(2,560)
Payments related to tax withholding for equity compensation	(6,943)	(2,053)
Net cash for financing activities	(163,240)	(52,122)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(967)	5,892
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	24,511	127,230
Balance, beginning of period	166,245	122,716
Balance, end of period	190,756	249,946
June 2014 Notes [Member] | Reportable Legal Entities [Member] | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	95,426	61,966
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		338,000
Proceeds from sale of investment		0
Capital expenditures	0	0
Net cash for investing activities	0	338,000
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	56,394	50,003
Payments for returns of capital		0
Term debt borrowings		0
Note borrowings		0
Term debt payments		0
Note payments, including amounts paid for early termination		(304,014)
Distributions paid to partners	(151,820)	(145,955)
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	(95,426)	(399,966)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	0	0
Balance, beginning of period	0	0
Balance, end of period	0	0
June 2014 Notes [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	188,005	227,588
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	(21,515)	(248,190)
Proceeds from returns on investments		146,500
Proceeds from sale of investment		0
Capital expenditures	(129,361)	(146,735)
Net cash for investing activities	(150,876)	(248,425)
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)
Note payments, including amounts paid for early termination		0
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	(2,200)	(18,371)
Exercise of limited partnership unit options	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	(2,200)	123,252
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	34,929	102,415
Balance, beginning of period	81,582	58,178
Balance, end of period	116,511	160,593
June 2014 Notes [Member] | Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	(3,506)	(3,107)
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	53,392	248,190
Proceeds from returns on investments		(500,000)
Proceeds from sale of investment		0
Capital expenditures	0	0
Net cash for investing activities	53,392	(251,810)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	(53,392)	(248,190)
Payments for returns of capital		500,000
Term debt borrowings		0
Note borrowings		0
Term debt payments		0
Note payments, including amounts paid for early termination		0
Distributions paid to partners	968	1,438
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	(52,424)	253,248
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	(2,538)	(1,669)
Balance, beginning of period	(1,095)	(1,025)
Balance, end of period	(3,633)	(2,694)
Co-Issuer Subsidiary (Magnum) [Member] | April 2017 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	13,190	(3,954)
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		15,500
Proceeds from sale of investment		3,281
Capital expenditures	0	(25)
Net cash for investing activities	0	18,756
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	(3,002)	198,187
Payments for returns of capital		0
Term debt borrowings		131,000
Note borrowings		0
Term debt payments		(126,619)
Note payments, including amounts paid for early termination		(211,444)
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	(321)	(1,313)
Exercise of limited partnership unit options	125
Tax effect of units involved in treasury unit transactions	(3,049)	(2,560)
Payments related to tax withholding for equity compensation	(6,943)	(2,053)
Net cash for financing activities	(13,190)	(14,802)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	0	0
Balance, beginning of period	0	0
Balance, end of period	0	0
Co-Issuer Subsidiary (Magnum) [Member] | June 2014 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	13,190	(3,954)
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		15,500
Proceeds from sale of investment		3,281
Capital expenditures	0	(25)
Net cash for investing activities	0	18,756
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	(3,002)	198,187
Payments for returns of capital		0
Term debt borrowings		131,000
Note borrowings		0
Term debt payments		(126,619)
Note payments, including amounts paid for early termination		(211,444)
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	(321)	(1,313)
Exercise of limited partnership unit options	125
Tax effect of units involved in treasury unit transactions	(3,049)	(2,560)
Payments related to tax withholding for equity compensation	(6,943)	(2,053)
Net cash for financing activities	(13,190)	(14,802)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	0	0
Balance, beginning of period	0	0
Balance, end of period	0	0
Co-Issuer Subsidiary (Cedar Canada) [Member] | April 2017 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	41,319	40,125
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	(31,877)	0
Proceeds from returns on investments		0
Proceeds from sale of investment		0
Capital expenditures	(16,355)	(5,679)
Net cash for investing activities	(48,232)	(5,679)
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)
Note payments, including amounts paid for early termination		0
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	0	(13,854)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(967)	5,892
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	(7,880)	26,484
Balance, beginning of period	85,758	65,563
Balance, end of period	77,878	92,047
Co-Issuer Subsidiary (Cedar Canada) [Member] | June 2014 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	41,319	40,125
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	(31,877)	0
Proceeds from returns on investments		0
Proceeds from sale of investment		0
Capital expenditures	(16,355)	(5,679)
Net cash for investing activities	(48,232)	(5,679)
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)
Note payments, including amounts paid for early termination		0
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	0	0
Exercise of limited partnership unit options	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	0	(13,854)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(967)	5,892
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	(7,880)	26,484
Balance, beginning of period	85,758	65,563
Balance, end of period	77,878	92,047
Co-Issuer Subsidiary (Millennium) [Member] | April 2017 Notes [Member] | Reportable Legal Entities [Member] | Subsidiary Issuer [Member]
Condensed Financial Statements, Captions [Line Items]
NET CASH (FOR) FROM OPERATING ACTIVITIES	136,066	103,553
CASH FLOWS FOR INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	0	0
Proceeds from returns on investments		0
Proceeds from sale of investment		0
Capital expenditures	(98,973)	(125,726)
Net cash for investing activities	(98,973)	(125,726)
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)
Note payments, including amounts paid for early termination		0
Distributions paid to partners	0	0
Payment of debt issuance costs and original issue discount	(2,200)	(18,371)
Exercise of limited partnership unit options	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	(2,200)	123,252
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0	0
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the year	34,893	101,079
Balance, beginning of period	80,430	57,825
Balance, end of period	$ 115,323	$ 158,904