Partnership Distributions

12 Months Ended

Sep. 30, 2021

Distributions Made to Members or Limited Partners [Abstract]

Partnership Distributions

Note 15 — Partnership Distributions

In accordance with the Partnership Agreement, the Partnership makes distributions to its partners approximately 45 days after the end of each fiscal quarter in a total amount equal to its Available Cash (as defined in the Partnership Agreement) for such quarter. The General Partner may establish reserves for the proper conduct of the Partnership’s business and for distributions during the next four quarters.

Prior to the AmeriGas Merger, distributions of Available Cash were made 98% to limited partners and 2% to the General Partner (representing a 1% General Partner interest in AmeriGas Partners and 1.01% interest in AmeriGas OLP) in accordance with available cash and target distribution tiers (as defined in the Partnership Agreement). When available cash exceeded a certain distribution tier in any quarter, the General Partner would receive a greater percentage of the total Partnership distribution (the “incentive distribution”) but only with respect to the amount by which the distribution exceeded the defined amount.

During Fiscal 2019 (prior to the AmeriGas Merger), the Partnership made quarterly distributions in excess of the defined amount. As a result, the General Partner received a greater percentage of the total Partnership distribution than its aggregate 2% general partner interest in AmeriGas OLP and AmeriGas Partners. During Fiscal 2019, distributions received by the

General Partner with respect to its aggregate 2% general partner ownership interests totaled $55, which included incentive distributions of $45.