0000950170-24-012209 | 10-Q | XBRL Viewer

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Goodwill and Intangible Assets, net - Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 462,657	$ 459,972
Accum. Amortization	388,688	383,666
Net	73,969	76,306
Customer Lists
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	420,460	418,190
Accum. Amortization	362,914	358,855
Net	57,546	59,335
Trade Names And Other Intangibles
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	42,197	41,782
Accum. Amortization	25,774	24,811
Net	$ 16,423	$ 16,971

Supplemental Disclosure of Cash Flow Information (Tables)

3 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Disclosure of Cash Flow Information


	Three Months Ended
Cash paid during the period for:	December 31,
(in thousands)	2023		2022
Income taxes, net	$	4,819	$	5,479
Interest	$	3,768	$	4,286

Property and Equipment

3 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

8) Property and Equipment

Property and equipment are stated at cost. Depreciation and amortization is computed over the estimated useful lives of the depreciable assets using the straight-line method (in thousands):


	December 31, 2023		September 30, 2023
Property and equipment	$	246,555	$	244,816
Less: accumulated depreciation and amortization		141,397		139,412
Property and equipment, net	$	105,158	$	105,404

Goodwill and Intangible Assets, net - Summary of Changes in Company's Goodwill (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance on beginning	$ 262,103
Fiscal year 2024 business combinations	244
Balance on ending	$ 262,347

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Subsequent Events - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2024 USD ($) PartnershipUnit $ / shares	Dec. 31, 2023 PartnershipUnit	Dec. 31, 2022 PartnershipUnit
Heating Oil Businesses
Subsequent Event [Line Items]
Number of businesses acquired \| PartnershipUnit		2	2
Subsequent Event
Subsequent Event [Line Items]
Aggregate purchase price partnership acquired	$ 19.9
Subsequent Event \| Dividend Declared
Subsequent Event [Line Items]
Distribution declared \| $ / shares	$ 0.1625
Partners capital projected distribution amount on annualized basis \| $ / shares	0.65
Minimum dividend distribution per unit \| $ / shares	$ 0.0675
Amount to paid to common unit holders	$ 5.8
Amount to paid to the General Partner	0.3
Incentive distribution to the General Partner	0.3
Incentive distributions to management	$ 0.3
Dividend payable date	Jan. 31, 2024
Dividend record date	Jan. 22, 2024
Subsequent Event \| Heating Oil Businesses
Subsequent Event [Line Items]
Number of businesses acquired \| PartnershipUnit	1
Subsequent Event \| Propane business
Subsequent Event [Line Items]
Number of businesses acquired \| PartnershipUnit	1

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Significant Accounting Policies [Line Items]
Cash, cash equivalents, and restricted cash	$ 20,175,000		$ 22,841,000	$ 45,441,000	$ 14,870,000
Cash and cash equivalents	19,925,000			45,191,000
Restricted cash	250,000			250,000
Derivative maximum payout				5,000,000
Accrued expenses and other current liabilities	118,382,000			115,606,000
Other long-term liabilities	16,298,000			16,175,000
New England Teamsters & Trucking Industry Pension Fund
Schedule Of Significant Accounting Policies [Line Items]
Accrued expenses and other current liabilities	300,000			300,000
Other long-term liabilities	15,900,000			16,000,000.0
New England Teamsters & Trucking Industry Pension Fund \| Significant Other Observable Inputs Level 2
Schedule Of Significant Accounting Policies [Line Items]
Multiemployer plan discounted withdrawal liability	19,600,000			$ 18,500,000
Financial Products Corporation
Schedule Of Significant Accounting Policies [Line Items]
Delivery and branch expense increased (reduced) under weather hedge contract	$ 1,000,000	$ 12,900,000	$ (400,000)
Maximum
Schedule Of Significant Accounting Policies [Line Items]
Cash equivalents, highly liquid investments maturity	3 months
Derivative maximum receivable	$ 12,500,000

Business Combinations and Divestitures

3 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Business Combinations and Divestitures

9) Business Combinations and Divestitures

During the three months ended December 31, 2023 the Company acquired two heating oil businesses for an aggregate purchase price of approximately $2.5 million in cash. The gross purchase price was allocated $2.7 million to intangible assets, $0.2 million to goodwill, $0.8 million to fixed assets and reduced by $1.2 million of negative working capital. The acquired companies’ operating results are included in the Company’s consolidated financial statements starting on their respective acquisition date, and are not material to the Company’s financial condition, results of operations, or cash flows.

During the three months ended December 31, 2022, the Company sold certain assets for cash proceeds of $2.2 million and acquired two heating oil businesses for an aggregate purchase price of approximately $1.2 million in cash. The gross purchase price was allocated $1.7 million to intangible assets, $0.2 million to goodwill, $0.2 million to fixed assets and reduced by $0.9 million of negative working capital.

Subsequent Events

3 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

16) Subsequent Events

Quarterly Distribution Declared

In January 2024, we declared a quarterly distribution of $0.1625 per unit, or $0.65 per unit on an annualized basis, on all Common Units with respect to the first quarter of fiscal 2024, paid on January 31, 2024, to holders of record on January 22, 2024. The amount of distributions in excess of the minimum quarterly distribution of $0.0675 are distributed in accordance with our Partnership Agreement, subject to the management incentive compensation plan. As a result, $5.8 million was paid to the Common Unit holders, $0.3 million to the General Partner unit holders (including $0.3 million of incentive distribution as provided in our Partnership Agreement) and $0.3 million to management pursuant to the management incentive compensation plan which provides for certain members of management to receive incentive distributions that would otherwise be payable to the General Partner.

Acquisitions

Subsequent to December 31, 2023, the Company purchased the customer list and assets of one propane business and one heating oil business for an aggregate amount of approximately $19.9 million.

Captive Insurance Collateral - Schedule of Captive Insurance Collateral to be Available-for-sale Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 73,387	$ 73,016
Gross Unrealized Gain	14	12
Gross Unrealized (Loss)	(1,381)	(2,311)
Fair Value	72,020	70,717
Cash and Receivables
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	6,365	4,335
Gross Unrealized Gain	0	0
Gross Unrealized (Loss)	0	0
Fair Value	6,365	4,335
U.S. Government Sponsored Agencies
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	50,813	50,471
Gross Unrealized Gain	11	0
Gross Unrealized (Loss)	(966)	(1,620)
Fair Value	49,858	48,851
Corporate Debt Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	16,209	18,210
Gross Unrealized Gain	3	12
Gross Unrealized (Loss)	(415)	(691)
Fair Value	$ 15,797	$ 17,531

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Revenue Recognition - Summary of Changes in Allowance for Credit Losses (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at September 30, 2022	$ 8,375
Current period provision	649
Write-offs, net and other	(950)
Balance as of December 31, 2023	$ 8,074

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Derivatives and Hedging-Disclosures and Fair Value Measurements - Additional Information (Detail) gal in Millions	3 Months Ended
	Dec. 31, 2023 USD ($) gal	Dec. 31, 2022 gal	Sep. 30, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedging positions or payable amounts secured under credit facility \| $	$ 15,700,000		$ 100,000
Prepaid expense and other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregated cash posted as collateral in normal course of business \| $	1,600,000
Interest rate swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value \| $	$ 54,600,000		55,500,000
Percentage of market risk exposure of long term debt	38.00%
Fair Value \| $	$ 600,000		$ 1,600,000
Call Option
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	8.8	23.2
Call Option \| Synthetic calls
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	61.4	61.3
Put Option
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	6.6	4.3
Swap Contracts Bought
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	14.2	9.4
Swap Contracts Bought \| Short
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	0.2	25.3
Future Contracts \| Short
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	20.7	7.3
Hedge its Internal Fuel Usage and Other Related Activities Swap Contracts Bought
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative activity volume	5.3	3.7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Cash flows provided by (used in) operating activities:

Net income

$ 12,979

$ 13,539

Adjustment to reconcile net income to net cash provided by (used in) operating activities:

(Increase) decrease in the fair value of derivative instruments

^[1]

19,030

17,636

Depreciation and amortization

8,636

8,166

Provision for losses on accounts receivable

649

1,046

Change in deferred taxes

(1,591)

(1,224)

Change in weather hedge contracts

(980)

350

Changes in operating assets and liabilities:

Increase in receivables

(73,590)

(115,164)

Increase in inventories

(26,805)

(28,717)

Decrease (increase) in other assets

704

(2,005)

Increase in accounts payable

11,095

22,366

Decrease in customer credit balances

(21,852)

(14,700)

Increase in other current and long-term liabilities

11,417

5,966

Net cash used in operating activities

(60,308)

(92,741)

Cash flows provided by (used in) investing activities:

Capital expenditures

(3,174)

(3,095)

Proceeds from sales of fixed assets

185

215

Proceeds from sale of certain assets

2,202

Purchase of investments

(409)

(215)

Acquisitions

(2,477)

(1,193)

Net cash used in investing activities

(5,875)

(2,086)

Cash flows provided by (used in) financing activities:

Revolving credit facility borrowings

51,637

116,298

Term loan repayments

(4,000)

(4,125)

Distributions

(6,118)

(5,774)

Unit repurchases

(150)

(3,596)

Customer retainage payments

(452)

(5)

Net cash provided by financing activities

40,917

102,798

Net (decrease) increase in cash, cash equivalents, and restricted cash

(25,266)

7,971

Cash, cash equivalents, and restricted cash at beginning of period

45,441

14,870

Cash, cash equivalents, and restricted cash at end of period

$ 20,175

$ 22,841

[1]	Represents the change in value of unrealized open positions and expired options.

Common Unit Repurchase and Retirement - Company's Repurchase Activities (Parenthetical) (Detail) - shares	Jan. 31, 2024	May 31, 2023	Jul. 31, 2022
Capital Unit [Line Items]
Company's common units authorized for repurchase		2,600,000	1,100,000
Common Stock Available for Repurchase Under Open Market Transactions
Capital Unit [Line Items]
Company's common units authorized for repurchase		2,300,000
Common Stock Available for Repurchase Under Open Market Transactions \| Subsequent Event
Capital Unit [Line Items]
Company's common units authorized for repurchase	2,200,000
Common Stock Available for Repurchase Under Privately Negotiated Transactions
Capital Unit [Line Items]
Company's common units authorized for repurchase		300,000
Common Stock Available for Repurchase Under Privately Negotiated Transactions \| Subsequent Event
Capital Unit [Line Items]
Company's common units authorized for repurchase	300,000

Derivatives and Hedging-Disclosures and Fair Value Measurements

3 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging-Disclosures and Fair Value Measurements

6) Derivatives and Hedging—Disclosures and Fair Value Measurements

The Company uses derivative instruments such as futures, options and swap agreements in order to mitigate exposure to market risk associated with the purchase of home heating oil for price-protected customers, physical inventory on hand, inventory in transit, priced purchase commitments and internal fuel usage. FASB ASC 815-10-05 Derivatives and Hedging, established accounting and reporting standards requiring that derivative instruments be recorded at fair value and included in the consolidated balance sheet as assets or liabilities, along with qualitative disclosures regarding the derivative activity. The Company has elected not to designate its commodity derivative instruments as hedging derivatives, but rather as economic hedges whose change in fair value is recognized in its statement of operations in the caption “(Increase) decrease in the fair value of derivative instruments.” Depending on the risk being economically hedged, realized gains and losses are recorded in cost of product, cost of installations and services, or delivery and branch expenses.

As of December 31, 2023, to hedge a substantial majority of the purchase price associated with heating oil gallons anticipated to be sold to its price-protected customers, the Company held the following derivative instruments that settle in future months to match anticipated sales: 14.2 million gallons of swap contracts, 8.8 million gallons of call options, 6.6 million gallons of put options, and 61.4 million net gallons of synthetic call options. To hedge its physical inventory on hand, inventory in transit and basis risk, the Company, as of December 31, 2023, held 0.2 million gallons of swap contracts and 20.7 million gallons of short future contracts that settle in future months. To hedge its internal fuel usage and other activities for fiscal 2024, the Company held 5.3 million gallons of swap contracts that settle in future months.

As of December 31, 2022, to hedge a substantial majority of the purchase price associated with heating oil gallons anticipated to be sold to its price-protected customers, the Company held the following derivative instruments that settle in future months to match anticipated sales: 9.4 million gallons of swap contracts, 23.2 million gallons of call options, 4.3 million gallons of put options, and 61.3 million net gallons of synthetic call options. To hedge its physical inventory on hand, inventory in transit and basis risk, the Company, as of December 31, 2022, held 25.3 million gallons of swap contracts and 7.3 million gallons of short future contracts that settle in future months. To hedge its internal fuel usage and other activities for fiscal 2023, the Company held 3.7 million gallons of swap contracts that settle in future months.

As of December 31, 2023, the Company has interest rate swap agreements in order to mitigate exposure to market risk associated with variable rate interest on $54.6 million, or 38%, of its long term debt. The Company has designated its interest rate swap agreements as cash flow hedging derivatives. To the extent these derivative instruments are effective and the accounting standard’s documentation requirements have been met, changes in fair value are recognized in other comprehensive income (loss) until the underlying hedged item is recognized in earnings. As of December 31, 2023 the fair value of the swap contracts was $0.6 million. As of September 30, 2023, the notional value of the swap contracts was $55.5 million and the fair value of the swap contracts was $1.6 million. We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of the swap contracts.

The Company’s derivative instruments are with the following counterparties: Bank of America, N.A., Bank of Montreal, Cargill, Inc., Citibank, N.A., JPMorgan Chase Bank, N.A., Key Bank, N.A. and Wells Fargo Bank, N.A. The Company assesses counterparty credit risk and considers it to be low. We maintain master netting arrangements that allow for the non-conditional offsetting of amounts receivable and payable with counterparties to help manage our risks and record derivative positions on a net basis. The Company generally does not receive cash collateral from its counterparties and does not restrict the use of cash collateral it maintains at counterparties. At December 31, 2023, the aggregate cash posted as collateral in the normal course of business at counterparties was $1.6 million and recorded in “Prepaid expense and other current assets.” Positions with counterparties who are also parties to our credit agreement are collateralized under that facility. As of December 31, 2023, $15.7 million hedge positions or payable amounts were secured under the credit facility.

The Company’s Level 1 derivative assets and liabilities represent the fair value of commodity contracts used in its hedging activities that are identical and traded in active markets. The Company’s Level 2 derivative assets and liabilities represent the fair value of commodity and interest rate contracts used in its hedging activities that are valued using either directly or indirectly observable inputs, whose nature, risk and class are similar. No significant transfers of assets or liabilities have been made into and out of the Level 1 or Level 2 tiers. All derivative instruments were non-trading positions and were either a Level 1 or Level 2 instrument. The Company had no Level 3 derivative instruments. The fair market value of our Level 1 and Level 2 derivative assets and liabilities are calculated by our counter-parties and are independently validated by the Company. The Company’s calculations are, for Level 1 derivative assets and liabilities, based on the published New York Mercantile Exchange (“NYMEX”) market prices for the commodity contracts open at the end of the period. For Level 2 derivative assets and liabilities the calculations performed by the Company are based on a combination of the NYMEX published market prices and other inputs, including such factors as present value, volatility and duration.

The Company had no assets or liabilities that are measured at fair value on a nonrecurring basis subsequent to their initial recognition. The Company’s commodity financial assets and liabilities measured at fair value on a recurring basis are listed on the following table.


(In thousands)					Fair Value Measurements at Reporting Date Using:
Derivatives Not Designated as Hedging Instruments					Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs
Under FASB ASC 815-10	Balance Sheet Location	Total			Level 1		Level 2
Asset Derivatives at December 31, 2023
Commodity contracts	Fair liability value of derivative instruments	$	17,620		$	—	$	17,620
Commodity contracts	Other long-term liabilities, net balance		1,198			—		1,198
Commodity contract assets at December 31, 2023		$	18,818		$	—	$	18,818
Liability Derivatives at December 31, 2023
Commodity contracts	Fair liability value of derivative instruments	$	(32,452	)	$	—	$	(32,452	)
Commodity contracts	Other long-term liabilities, net balance		(1,404	)		—		(1,404	)
Commodity contract liabilities at December 31, 2023		$	(33,856	)	$	—	$	(33,856	)
Asset Derivatives at September 30, 2023
Commodity contracts	Fair asset and liability value of derivative instruments	$	17,891		$	—	$	17,891
Commodity contracts	Long-term derivative assets included in the deferred charges and other assets, net and other long-term liabilities, net balances		779			—		779
Commodity contract assets September 30, 2023		$	18,670		$	—	$	18,670
Liability Derivatives at September 30, 2023
Commodity contracts	Fair asset and liability value of derivative instruments	$	(7,349	)	$	—	$	(7,349	)
Commodity contracts	Long-term derivative liabilities included in the deferred charges and other assets, net and other long-term liabilities, net balances		(679	)		—		(679	)
Commodity contract liabilities September 30, 2023		$	(8,028	)	$	—	$	(8,028	)

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


(In thousands)									Gross Amounts Not Offset in the Statement of Financial Position
Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities)	Gross Assets Recognized		Gross Liabilities Offset in the Statement of Financial Position			Net Assets (Liabilities) Presented in the Statement of Financial Position			Financial Instruments		Cash Collateral Received		Net Amount
Fair liability value of derivative instruments	$	17,620	$	(32,452	)	$	(14,832	)	$	—	$	—	$	(14,832	)
Long-term derivative liabilities included in other long-term liabilities, net		1,198		(1,404	)		(206	)		—		—		(206	)
Total at December 31, 2023	$	18,818	$	(33,856	)	$	(15,038	)	$	—	$	—	$	(15,038	)
Fair asset value of derivative instruments	$	17,815	$	(7,155	)	$	10,660		$	—	$	—	$	10,660
Long-term derivative assets included in deferred charges and other assets, net		567		(452	)		115			—		—		115
Fair liability value of derivative instruments		76		(194	)		(118	)		—		—		(118	)
Long-term derivative liabilities included in other long-term liabilities, net		212		(227	)		(15	)		—		—		(15	)
Total at September 30, 2023	$	18,670	$	(8,028	)	$	10,642		$	—	$	—	$	10,642


(In thousands)
The Effect of Derivative Instruments on the Statement of Operations
		Amount of (Gain) or Loss Recognized
Derivatives Not Designated as Hedging Instruments Under FASB ASC 815-10	Location of (Gain) or Loss Recognized in Income on Derivative	Three Months Ended December 31, 2023			Three Months Ended December 31, 2022
Commodity contracts	Cost of product (a)	$	4,723		$	(8,942	)
Commodity contracts	Cost of installations and service (a)	$	14		$	40
Commodity contracts	Delivery and branch expenses (a)	$	(392	)	$	(200	)
Commodity contracts	(Increase) / decrease in the fair value of derivative instruments (b)	$	19,030		$	17,636

(a)

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

(b)

Represents the change in value of unrealized open positions and expired options.

Common Unit Repurchase and Retirement - Additional Information (Detail) - USD ($)			1 Months Ended			3 Months Ended	4 Months Ended	131 Months Ended	132 Months Ended
	Feb. 28, 2024	Jul. 06, 2022	Jan. 31, 2024	Oct. 31, 2023	Oct. 30, 2023	Dec. 31, 2023	Feb. 27, 2024	May 31, 2023	Sep. 30, 2023	Jul. 31, 2022
Capital Unit [Line Items]
Company's common units authorized for repurchase								2,600,000		1,100,000
Sixth Amendment
Capital Unit [Line Items]
Availability required to repurchase common units		$ 60,000,000
Percentage of the maximum facility size on a historical proforma and forward-looking basis		15.00%
Non Seasonal maximum borrowing capacity under revolving credit facility		$ 400,000,000
Minimum fixed charge coverage ratio for distributions to unit holders or to repurchase common units		100.00%			1.15%
Sixth Amendment \| Scenario Forecast
Capital Unit [Line Items]
Minimum fixed charge coverage ratio for distributions to unit holders or to repurchase common units	1.15%						1.00%
Repurchase Plan
Capital Unit [Line Items]
Company's common units repurchased and retired				13,000		13,000		20,500,000	25,422,000
Repurchase Plan \| Subsequent Event
Capital Unit [Line Items]
Company's common units repurchased and retired			15,000
Common Stock Available for Repurchase Under Privately Negotiated Transactions
Capital Unit [Line Items]
Company's common units authorized for repurchase								300,000
Common Stock Available for Repurchase Under Privately Negotiated Transactions \| Subsequent Event
Capital Unit [Line Items]
Company's common units authorized for repurchase			300,000
Common Stock Available for Repurchase Under Open Market Transactions
Capital Unit [Line Items]
Company's common units authorized for repurchase								2,300,000
Common Stock Available for Repurchase Under Open Market Transactions \| Subsequent Event
Capital Unit [Line Items]
Company's common units authorized for repurchase			2,200,000

Earnings Per Limited Partner Unit

3 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Limited Partner Unit

15) Earnings Per Limited Partner Unit

The following table presents the net income allocation and per unit data:


	Three Months Ended
Basic and Diluted Earnings Per Limited Partner:	December 31,
(in thousands, except per unit data)	2023		2022
Net income	$	12,979	$	13,539
Less General Partner’s interest in net income		118		122
Net income available to limited partners		12,861		13,417
Less dilutive impact of theoretical distribution of earnings *		1,588		1,723
Limited Partner’s interest in net income	$	11,273	$	11,694
Per unit data:
Basic and diluted net income available to limited partners	$	0.36	$	0.37
Less dilutive impact of theoretical distribution of earnings *		0.04		0.04
Limited Partner’s interest in net income	$	0.32	$	0.33
Weighted average number of Limited Partner units outstanding		35,593		35,916

* In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required to present net income per Limited Partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, regardless of whether those earnings would actually be distributed during a particular period from an economic or practical perspective. This allocation does not impact the Company’s overall net income or other financial results.

Captive Insurance Collateral - Schedule of Maturities of Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 52,825
Due after one year through five years	19,195
Due after five years through ten years	0
Total	$ 72,020	$ 70,717

Common Unit Repurchase and Retirement

3 Months Ended

Dec. 31, 2023

Equity [Abstract]

Common Unit Repurchase and Retirement

4) Common Unit Repurchase and Retirement

In July 2012, the Board adopted a plan to repurchase certain of the Company’s Common Units (the “Repurchase Plan”). Through May 2023, the Company had repurchased approximately 20.5 million Common Units under the Repurchase Plan. In May 2023, the Board authorized an increase of the number of Common Units that remained available for the Company to repurchase from 1.1 million to a total of 2.6 million, of which, approximately 2.3 million were available for repurchase in open market transactions and approximately 0.3 million were available for repurchase in privately-negotiated transactions. There is no guarantee of the number of units that will be purchased under the Repurchase Plan and the Company may discontinue purchases at any time. The Repurchase Plan does not have a time limit. The Board may also approve additional purchases of units from time to time in private transactions. The Company’s repurchase activities take into account SEC safe harbor rules and guidance for issuer repurchases. All of the Common Units purchased under the Repurchase Plan will be retired.

Under the Company’s sixth amended and restated credit agreement dated July 6, 2022, as amended, in order to pay distributions and repurchase Common Units, we must maintain Availability (as defined in the sixth amended and restated credit agreement) of $60 million, 15.0% of the facility size of $400 million (assuming no borrowings under the seasonal advance) on a historical pro forma and forward-looking basis, and a fixed charge coverage ratio of not less than 1.0 through February 27, 2024 and 1.15 thereafter measured as of the date of repurchase or distribution. (See Note 11—Long-Term Debt and Bank Facility Borrowings).

The following table shows repurchases under the Repurchase Plan:


(in thousands, except per unit amounts)
Period	Total Number of Units Purchased		Average Price Paid per Unit (a)		Total Number of Units Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Units that May Yet Be Purchased
Fiscal year 2012 to 2023 total		25,422	$	8.82		20,534		2,568

October 2023		13	$	11.27		13		2,555
November 2023		—		—		—		2,555
December 2023		—		—		—		2,555
First quarter fiscal year 2024 total		13	$	11.27		13		2,555

January 2024		15	$	11.27		15		2,540	(b)

(a)

Amount includes repurchase costs.

(b)

Of the total available for repurchase, approximately 2.2 million units are available for repurchase in open market transactions and approximately 0.3 million units are available for repurchase in privately-negotiated transactions, under the Repurchase Plan.

Inventories

3 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

7) Inventories

The Company’s product inventories are stated at the lower of cost and net realizable value computed on the weighted average cost method. All other inventories, representing parts and equipment are stated at the lower of cost and net realizable value using the FIFO method. The components of inventory were as follows (in thousands):


	December 31, 2023		September 30, 2023
Product	$	61,859	$	33,994
Parts and equipment		22,174		22,469
Total inventory	$	84,033	$	56,463

Revenue Recognition - Summary of Disaggregation of Revenue by Major Sources (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Total sales	$ 528,096	$ 648,187
Home heating oil and propane
Disaggregation Of Revenue [Line Items]
Total sales	351,214	435,523
Other petroleum products
Disaggregation Of Revenue [Line Items]
Total sales	97,336	134,406
Petroleum products
Disaggregation Of Revenue [Line Items]
Total sales	448,550	569,929
Equipment installations
Disaggregation Of Revenue [Line Items]
Total sales	34,315	32,789
Equipment maintenance service contracts
Disaggregation Of Revenue [Line Items]
Total sales	28,916	28,716
Billable call services
Disaggregation Of Revenue [Line Items]
Total sales	16,315	16,753
Installations and services
Disaggregation Of Revenue [Line Items]
Total sales	$ 79,546	$ 78,258

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Long-Term Debt and Bank Facility Borrowings (Tables)

3 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Company's Debt

The Company’s debt is as follows (in thousands):


	December 31,				September 30,
	2023				2023
	Carrying Amount		Fair Value (a)		Carrying Amount		Fair Value (a)
Revolving Credit Facility Borrowings	$	51,877	$	51,877	$	240	$	240
Senior Secured Term Loan (b)		143,883		144,500		147,827		148,500
Total debt	$	195,760	$	196,377	$	148,067	$	148,740
Total short-term portion of debt	$	72,502	$	72,502	$	20,740	$	20,740
Total long-term portion of debt (b)	$	123,258	$	123,875	$	127,327	$	128,000

(a)

The face amount of the Company’s variable rate long-term debt approximates fair value.

(b)

Carrying amounts are net of unamortized debt issuance costs of $0.6 million as of December 31, 2023 and $0.7 million as of September 30, 2023.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Goodwill and Intangible Assets, net

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

10) Goodwill and Intangible Assets, net

Goodwill

A summary of changes in Company’s goodwill is as follows (in thousands):


Balance as of September 30, 2023	$	262,103
Fiscal year 2024 business combinations		244
Balance as of December 31, 2023	$	262,347

Intangibles, net

The gross carrying amount and accumulated amortization of intangible assets subject to amortization are as follows (in thousands):


	December 31, 2023						September 30, 2023
	Gross						Gross
	Carrying		Accum.				Carrying		Accum.
	Amount		Amortization		Net		Amount		Amortization		Net
Customer lists	$	420,460	$	362,914	$	57,546	$	418,190	$	358,855	$	59,335
Trade names and other intangibles		42,197		25,774		16,423		41,782		24,811		16,971
Total	$	462,657	$	388,688	$	73,969	$	459,972	$	383,666	$	76,306

Amortization expense for intangible assets was $5.0 million for the three months ended December 31, 2023, compared to $4.3 million for the three months ended December 31, 2022.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Earnings Per Limited Partner Unit - Net Income Allocation and Per Unit Data (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Basic and Diluted Earnings Per Limited Partner:

Net income

$ 12,979

$ 13,539

Less General Partner's interest in net income

118

122

Net income available to limited partners

12,861

13,417

Less dilutive impact of theoretical distribution of earnings

^[1]

1,588

1,723

Limited Partner's interest in net income

$ 11,273

$ 11,694

Per unit data:

Basic net income available to limited partners

$ 0.36

$ 0.37

Diluted net income available to limited partners

0.36

0.37

Less dilutive impact of theoretical distribution of earnings

^[1]

0.04

Limited Partner's interest in net income

^[2]

$ 0.32

$ 0.33

Weighted average number of Limited Partner units outstanding, Basic

35,593

35,916

Weighted average number of Limited Partner units outstanding, Diluted

35,593

35,916

[1]

In any accounting period where the Company’s aggregate net income exceeds its aggregate distribution for such period, the Company is required to present net income per Limited Partner unit as if all of the earnings for the period were distributed, based on the terms of the Partnership agreement, regardless of whether those earnings would actually be distributed during a particular period from an economic or practical perspective. This allocation does not impact the Company’s overall net income or other financial results.

[2]

See Note 15 - Earnings Per Limited Partner Unit.

Commitments and Contingencies

3 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

14) Commitments and Contingencies

The Company’s operations are subject to the operating hazards and risks normally incidental to handling, storing and transporting and otherwise providing for use by consumers hazardous liquids such as home heating oil and propane. In the ordinary course of business, the Company is a defendant in various legal proceedings and litigation. The Company records a liability when it is probable that a loss has been incurred and the amount is reasonably estimable. We do not believe these matters, when considered individually or in the aggregate, could reasonably be expected to have a material adverse effect on the Company’s results of operations, financial position or liquidity.

The Company maintains insurance policies with insurers in amounts and with coverages and deductibles we believe are reasonable and prudent. However, the Company cannot assure that this insurance will be adequate to protect it from all material expenses related to current and potential future claims, legal proceedings and litigation, as certain types of claims may be excluded from our insurance coverage. If we incur substantial liability and the damages are not covered by insurance, or are in excess of policy limits, or if we incur liability at a time when we are not able to obtain liability insurance, then our business, results of operations and financial condition could be materially adversely affected.

Organization

3 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Organization

1) Organization

Star Group, L.P. (“Star,” the “Company,” “we,” “us,” or “our”) is a full service provider specializing in the sale of home heating and air conditioning products and services to residential and commercial home heating oil and propane customers. The Company has one reportable segment for accounting purposes. We also sell diesel fuel, gasoline and home heating oil on a delivery only basis. We believe we are the nation’s largest retail distributor of home heating oil based upon sales volume.

The Company is organized as follows:

•

Star is a limited partnership, which at December 31, 2023, had outstanding 35.6 million Common Units (NYSE: “SGU”), representing a 99.1% limited partner interest in Star, and 0.3 million general partner units, representing a 0.9% general partner interest in Star. Our general partner is Kestrel Heat, LLC, a Delaware limited liability company (“Kestrel Heat” or the “general partner”). The Board of Directors of Kestrel Heat (the “Board”) is appointed by its sole member, Kestrel Energy Partners, LLC, a Delaware limited liability company (“Kestrel”). Although Star is a partnership, it is taxed as a corporation and its distributions to unitholders are treated as taxable dividends.

•

Star owns 100% of Star Acquisitions, Inc. (“SA”), a Minnesota corporation that owns 100% of Petro Holdings, Inc. (“Petro”). SA and its subsidiaries are subject to Federal and state corporate income taxes. Star’s operations are conducted through Petro and its subsidiaries. Petro is primarily a Northeast and Mid-Atlantic U.S. region retail distributor of home heating oil and propane that at December 31, 2023 served approximately 404,800 full service residential and commercial home heating oil and propane customers and 57,600 customers on a delivery only basis. We also sell gasoline and diesel fuel to approximately 26,900 customers. We install, maintain, and repair heating and air conditioning equipment and to a lesser extent provide these services outside our heating oil and propane customer base including approximately 21,200 service contracts for natural gas and other heating systems.

•

Petroleum Heat and Power Co., Inc. (“PH&P”) is a wholly owned subsidiary of Star. PH&P is the borrower and Star is the guarantor of the sixth amended and restated credit agreement’s $165 million five-year senior secured term loan and the $400 million ($550 million during the heating season of December through April of each year) revolving credit facility, both due July 6, 2027. (See Note 11—Long-Term Debt and Bank Facility Borrowings).

Supplemental Disclosure of Cash Flow Information

3 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure of Cash Flow Information

13) Supplemental Disclosure of Cash Flow Information


	Three Months Ended
Cash paid during the period for:	December 31,
(in thousands)	2023		2022
Income taxes, net	$	4,819	$	5,479
Interest	$	3,768	$	4,286

Inventories (Tables)

3 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Components of Inventory

The components of inventory were as follows (in thousands):


	December 31, 2023		September 30, 2023
Product	$	61,859	$	33,994
Parts and equipment		22,174		22,469
Total inventory	$	84,033	$	56,463

Revenue Recognition (Tables)

3 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenue by Major Sources

The following disaggregates our revenue by major sources for the three months ended December 31, 2023 and December 31, 2022:


	Three Months Ended December 31,
(in thousands)	2023		2022
Petroleum Products:
Home heating oil and propane	$	351,214	$	435,523
Other petroleum products		97,336		134,406
Total petroleum products		448,550		569,929
Installations and Services:
Equipment installations		34,315		32,789
Equipment maintenance service contracts		28,916		28,716
Billable call services		16,315		16,753
Total installations and services		79,546		78,258
Total Sales	$	528,096	$	648,187

Summary of Changes in Allowance for Credit Losses

Changes in the allowance for credit losses are as follows:


(in thousands)	Credit Loss Allowance
Balance at September 30, 2023	$	8,375
Current period provision		649
Write-offs, net and other		(950	)
Balance as of December 31, 2023	$	8,074

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Consolidated Financial Statements include the accounts of Star and its subsidiaries. All material intercompany items and transactions have been eliminated in consolidation. The financial information included herein is unaudited; however, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair statement of financial condition and results for the interim periods. Due to the seasonal nature of the Company’s business, the results of operations and cash flows for the three-month period ended December 31, 2023 are not necessarily indicative of the results to be expected for the full year. These interim financial statements of the Company have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information and Rule 10-01 of Regulation S-X of the U.S. Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the financial statements included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023.
Comprehensive Income	Comprehensive Income Comprehensive income is comprised of Net income and Other comprehensive income. Other comprehensive income consists of the unrealized gain on amortization on the Company’s pension plan obligation for its two frozen defined benefit pension plans, unrealized gain on available-for-sale investments, unrealized loss on interest rate hedges and the corresponding tax effects.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. At December 31, 2023, the $20.2 million of cash, cash equivalents, and restricted cash on the Condensed Consolidated Statements of Cash Flows is composed of $19.9 million of cash and cash equivalents and $0.3 million of restricted cash. At September 30, 2023, the $45.4 million of cash, cash equivalents, and restricted cash on the Condensed Consolidated Statements of Cash Flows is composed of $45.2 million of cash and cash equivalents and $0.3 million of restricted cash. Restricted cash represents deposits held by our captive insurance company that are required by state insurance regulations to remain in the captive insurance company as cash.
Fair Value Valuation Approach	Fair Value Valuation Approach The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: • Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. • Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. • Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.
Captive Insurance Collateral	Captive Insurance Collateral The captive insurance collateral is held by our captive insurance company in an irrevocable trust as collateral for certain workers’ compensation and automobile liability claims. The collateral is required by a third party insurance carrier that insures per claim amounts above a set deductible. If we did not deposit cash into the trust, the third party carrier would require that we issue an equal amount of letters of credit, which would reduce our availability under the sixth amended and restated credit agreement. Due to the expected timing of claim payments, the nature of the collateral agreement with the carrier, and our captive insurance company’s source of other operating cash, the collateral is not expected to be used to pay obligations within the next twelve months. Unrealized gains and losses, net of related income taxes, are reported as accumulated other comprehensive income (loss), except for losses from impairments which are determined to be other-than-temporary. Realized gains and losses, and declines in value judged to be other-than-temporary on available-for-sale securities are included in the determination of net income and are included in Interest expense, net, at which time the average cost basis of these securities are adjusted to fair value.
Weather Hedge Contract	Weather Hedge Contract To partially mitigate the adverse effect of warm weather on cash flows, the Company has used weather hedge contracts for a number of years. Weather hedge contracts are recorded in accordance with the intrinsic value method defined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815-45-15 Derivatives and Hedging, Weather Derivatives (EITF 99-2). The premium paid is included in the caption “Prepaid expenses and other current assets” in the accompanying balance sheets and amortized over the life of the contract, with the intrinsic value method applied at each interim period. The Company entered into weather hedge contracts for fiscal years 2023 and 2024. The hedge period runs from November 1 through March 31, taken as a whole. The “Payment Thresholds,” or strikes, are set at various levels and are referenced against degree days for the prior ten year average. Under these contracts the maximum amount the Company can receive is $12.5 million annually. For the contracts applicable to fiscal 2023, we were additionally obligated to make an annual payment capped at $5.0 million if degree days exceeded the Payment Threshold. This obligation does not exist under the contract applicable to 2024. In accordance with ASC 815-45, we recorded a $1.0 million benefit to delivery and branch expenses for the first quarter of fiscal 2024. The final settlement under this weather hedge contract for fiscal 2024 may differ depending on the actual degree-days recorded in the period January 1, 2024 through March 31, 2024. For the first quarter of fiscal 2023, we recorded an expense of $0.4 million which was subsequently reversed as the actual degree-days for the second quarter of fiscal 2023 were warmer than the Payment Thresholds and the Company recorded a benefit of $12.9 million in the second quarter of fiscal 2023.
New England Teamsters and Trucking Industry Pension Fund ("the NETTI Fund") Liability	New England Teamsters and Trucking Industry Pension Fund (“the NETTI Fund”) Liability As of December 31, 2023, we had $0.3 million and $15.9 million balances included in the captions “Accrued expenses and other current liabilities” and “Other long-term liabilities,” respectively, on our Condensed Consolidated Balance Sheet representing the remaining balance of the NETTI Fund withdrawal liability. As of September 30, 2023, we had $0.3 million and $16.0 million balances reflected in these categories respectively. Based on the borrowing rates currently available to the Company for long-term financing of a similar maturity, the fair value of the NETTI Fund withdrawal liability as of December 31, 2023 and September 30, 2023 was $19.6 million and $18.5 million, respectively. We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of this liability.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires accounting for contract assets and liabilities from contracts with customers in a business combination to be accounted for in accordance with ASC No. 606. The Company adopted the ASU effective October 1, 2023. The Company's adoption of the ASU did not have an impact on the Company's condensed consolidated financial statements and related disclosures.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to income tax disclosures, which requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The standard is effective for fiscal years beginning after December 15, 2024. Adoption is either with a prospective method or a fully retrospective method of transition. Early adoption is permitted. The Company has not determined the timing of adoption and is currently evaluating the impact of the new standard on its condensed consolidated financial statements.
Deferred Contract Costs	Deferred Contract Costs We recognize an asset for incremental commission expenses paid to sales personnel in conjunction with obtaining new residential customer product and equipment maintenance service contracts. We defer these costs only when we have determined the commissions are, in fact, incremental and would not have been incurred absent the customer contract. Costs to obtain a contract are amortized and recorded ratably as delivery and branch expenses over the period representing the transfer of goods or services to which the assets relate. Costs to obtain new residential product and equipment maintenance service contracts are amortized as expense over the estimated customer relationship period of approximately five years.
Receivables and Allowance for Doubtful Accounts	Receivables and Allowance for Doubtful Accounts Accounts receivables from customers are recorded at the invoiced amounts. Finance charges may be applied to trade receivables that are more than 30 days past due, and are recorded as finance charge income. The allowance for doubtful accounts is the Company’s estimate of the amount of trade receivables that may not be collectible. The allowance is determined at an aggregate level by grouping accounts based on certain account criteria and its receivable aging. The allowance is based on both quantitative and qualitative factors, including historical loss experience, historical collection patterns, overdue status, aging trends, current and future economic conditions. The Company has an established process to periodically review current and past due trade receivable balances to determine the adequacy of the allowance. No single statistic or measurement determines the adequacy of the allowance. The total allowance reflects management’s estimate of losses inherent in its trade receivables at the balance sheet date. Different assumptions or changes in economic conditions could result in material changes to the allowance for doubtful accounts.
Derivatives and Hedging	The Company uses derivative instruments such as futures, options and swap agreements in order to mitigate exposure to market risk associated with the purchase of home heating oil for price-protected customers, physical inventory on hand, inventory in transit, priced purchase commitments and internal fuel usage. FASB ASC 815-10-05 Derivatives and Hedging, established accounting and reporting standards requiring that derivative instruments be recorded at fair value and included in the consolidated balance sheet as assets or liabilities, along with qualitative disclosures regarding the derivative activity. The Company has elected not to designate its commodity derivative instruments as hedging derivatives, but rather as economic hedges whose change in fair value is recognized in its statement of operations in the caption “(Increase) decrease in the fair value of derivative instruments.” Depending on the risk being economically hedged, realized gains and losses are recorded in cost of product, cost of installations and services, or delivery and branch expenses.

Property and Equipment - Component of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property and equipment	$ 246,555	$ 244,816
Less: accumulated depreciation and amortization	141,397	139,412
Property and equipment, net	$ 105,158	$ 105,404

Derivatives and Hedging-Disclosures and Fair Value Measurements - Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Fair Values Of Financial Assets And Liabilities Including Derivative Financial Instruments [Line Items]
Net Assets (Liabilities) Presented in the Statement of Financial Position	$ (14,832)	$ (118)
Subject to an enforceable master netting arrangement
Fair Values Of Financial Assets And Liabilities Including Derivative Financial Instruments [Line Items]
Net Assets (Liabilities) Presented in the Statement of Financial Position	(14,832)	(118)
Net Assets (Liabilities) Presented in the Statement of Financial Position	(206)	(15)
Gross Assets Recognized	18,818	18,670
Gross Liabilities Offset in the Statement of Financial Position	(33,856)	(8,028)
Net Assets (Liabilities) Presented in the Statement of Financial Position	(15,038)	10,642
Gross Amounts Not Offset in the Statement of Financial Position, Net Amount	(15,038)	10,642
Subject to an enforceable master netting arrangement \| Fair asset value of derivative instruments
Fair Values Of Financial Assets And Liabilities Including Derivative Financial Instruments [Line Items]
Gross Assets Recognized		17,815
Gross Liabilities Offset in the Statement of Financial Position		(7,155)
Net Assets (Liabilities) Presented in the Statement of Financial Position		$ 10,660
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Derivative Asset, Current
Gross Amounts Not Offset in the Statement of Financial Position, Net Amount		$ 10,660
Subject to an enforceable master netting arrangement \| Other long-term assets, net
Fair Values Of Financial Assets And Liabilities Including Derivative Financial Instruments [Line Items]
Gross Assets Recognized		567
Gross Liabilities Offset in the Statement of Financial Position		(452)
Net Assets (Liabilities) Presented in the Statement of Financial Position		$ 115
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Derivative Asset, Current
Gross Amounts Not Offset in the Statement of Financial Position, Net Amount		$ 115
Subject to an enforceable master netting arrangement \| Fair liability value of derivative instruments
Fair Values Of Financial Assets And Liabilities Including Derivative Financial Instruments [Line Items]
Gross Assets Recognized	17,620	76
Gross Liabilities Offset in the Statement of Financial Position	(32,452)	(194)
Gross Amounts Not Offset in the Statement of Financial Position, Net Amount	(14,832)	(118)
Subject to an enforceable master netting arrangement \| Other long-term liabilities, net
Fair Values Of Financial Assets And Liabilities Including Derivative Financial Instruments [Line Items]
Gross Assets Recognized	1,198	212
Gross Liabilities Offset in the Statement of Financial Position	(1,404)	(227)
Gross Amounts Not Offset in the Statement of Financial Position, Net Amount	$ (206)	$ (15)

Summary of Significant Accounting Policies

3 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2) Summary of Significant Accounting Policies

Basis of Presentation

The Consolidated Financial Statements include the accounts of Star and its subsidiaries. All material intercompany items and transactions have been eliminated in consolidation.

The financial information included herein is unaudited; however, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair statement of financial condition and results for the interim periods. Due to the seasonal nature of the Company’s business, the results of operations and cash flows for the three-month period ended December 31, 2023 are not necessarily indicative of the results to be expected for the full year.

These interim financial statements of the Company have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information and Rule 10-01 of Regulation S-X of the U.S. Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the financial statements included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2023.

Comprehensive Income

Comprehensive income is comprised of Net income and Other comprehensive income. Other comprehensive income consists of the unrealized gain on amortization on the Company’s pension plan obligation for its two frozen defined benefit pension plans, unrealized gain on available-for-sale investments, unrealized loss on interest rate hedges and the corresponding tax effects.

Cash, Cash Equivalents, and Restricted Cash

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. At December 31, 2023, the $20.2 million of cash, cash equivalents, and restricted cash on the Condensed Consolidated Statements of Cash Flows is composed of $19.9 million of cash and cash equivalents and $0.3 million of restricted cash. At September 30, 2023, the $45.4 million of cash, cash equivalents, and restricted cash on the Condensed Consolidated Statements of Cash Flows is composed of $45.2 million of cash and cash equivalents and $0.3 million of restricted cash. Restricted cash represents deposits held by our captive insurance company that are required by state insurance regulations to remain in the captive insurance company as cash.

Fair Value Valuation Approach

The Company uses valuation approaches that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

•

Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•

Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

•

Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

Captive Insurance Collateral

The captive insurance collateral is held by our captive insurance company in an irrevocable trust as collateral for certain workers’ compensation and automobile liability claims. The collateral is required by a third party insurance carrier that insures per claim amounts above a set deductible. If we did not deposit cash into the trust, the third party carrier would require that we issue an equal amount of letters of credit, which would reduce our availability under the sixth amended and restated credit agreement. Due to the expected timing of claim payments, the nature of the collateral agreement with the carrier, and our captive insurance company’s source of other operating cash, the collateral is not expected to be used to pay obligations within the next twelve months.

Unrealized gains and losses, net of related income taxes, are reported as accumulated other comprehensive income (loss), except for losses from impairments which are determined to be other-than-temporary. Realized gains and losses, and declines in value judged to be other-than-temporary on available-for-sale securities are included in the determination of net income and are included in Interest expense, net, at which time the average cost basis of these securities are adjusted to fair value.

Weather Hedge Contract

To partially mitigate the adverse effect of warm weather on cash flows, the Company has used weather hedge contracts for a number of years. Weather hedge contracts are recorded in accordance with the intrinsic value method defined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815-45-15 Derivatives and Hedging, Weather Derivatives (EITF 99-2). The premium paid is included in the caption “Prepaid expenses and other current assets” in the accompanying balance sheets and amortized over the life of the contract, with the intrinsic value method applied at each interim period.

The Company entered into weather hedge contracts for fiscal years 2023 and 2024. The hedge period runs from November 1 through March 31, taken as a whole. The “Payment Thresholds,” or strikes, are set at various levels and are referenced against degree days for the prior ten year average. Under these contracts the maximum amount the Company can receive is $12.5 million annually. For the contracts applicable to fiscal 2023, we were additionally obligated to make an annual payment capped at $5.0 million if degree days exceeded the Payment Threshold. This obligation does not exist under the contract applicable to 2024.

In accordance with ASC 815-45, we recorded a $1.0 million benefit to delivery and branch expenses for the first quarter of fiscal 2024. The final settlement under this weather hedge contract for fiscal 2024 may differ depending on the actual degree-days recorded in the period January 1, 2024 through March 31, 2024. For the first quarter of fiscal 2023, we recorded an expense of $0.4 million which was subsequently reversed as the actual degree-days for the second quarter of fiscal 2023 were warmer than the Payment Thresholds and the Company recorded a benefit of $12.9 million in the second quarter of fiscal 2023.

New England Teamsters and Trucking Industry Pension Fund (“the NETTI Fund”) Liability

As of December 31, 2023, we had $0.3 million and $15.9 million balances included in the captions “Accrued expenses and other current liabilities” and “Other long-term liabilities,” respectively, on our Condensed Consolidated Balance Sheet representing the remaining balance of the NETTI Fund withdrawal liability. As of September 30, 2023, we had $0.3 million and $16.0 million balances reflected in these categories respectively. Based on the borrowing rates currently available to the Company for long-term financing of a similar maturity, the fair value of the NETTI Fund withdrawal liability as of December 31, 2023 and September 30, 2023 was $19.6 million and $18.5 million, respectively. We utilized Level 2 inputs in the fair value hierarchy of valuation techniques to determine the fair value of this liability.

Recently Adopted Accounting Pronouncements

In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires accounting for contract assets and liabilities from contracts with customers in a business combination to be accounted for in accordance with ASC No. 606. The Company adopted the ASU effective October 1, 2023. The Company's adoption of the ASU did not have an impact on the Company's condensed consolidated financial statements and related disclosures.

Recently Issued Accounting Pronouncements

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to income tax disclosures, which requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The standard is effective for fiscal years beginning after December 15, 2024. Adoption is either with a prospective method or a fully retrospective method of transition. Early adoption is permitted. The Company has not determined the timing of adoption and is currently evaluating the impact of the new standard on its condensed consolidated financial statements.

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Dec. 31, 2023	Jan. 31, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	SGU
Title of 12(b) Security	Common Units
Security Exchange Name	NYSE
Entity Registrant Name	STAR GROUP, L.P.
Entity Central Index Key	0001002590
Entity Tax Identification Number	06-1437793
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-14129
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,574,434
Entity Address, Address Line One	9 West Broad Street
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06902
City Area Code	(203)
Local Phone Number	328-7310

Long-Term Debt and Bank Facility Borrowings - Company's Debt (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Sep. 30, 2023
Term Loan
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 0.6	$ 0.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

CONDENSED CONSOLIDATED STATEMENT OF PARTNERS' CAPITAL - USD ($) shares in Thousands, $ in Thousands	Total	General Partner	Common Stock	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Sep. 30, 2022	$ 257,915	$ (3,656)	$ 277,177	$ (15,606)
Beginning Balance, unit at Sep. 30, 2022		326	36,092
Net income	13,539	$ 122	$ 13,417
Unrealized gain on pension plan obligation	380			380
Tax effect of unrealized gain on pension plan obligation	(97)			(97)
Unrealized gain on captive insurance collateral	355			355
Tax effect of unrealized gain on captive insurance collateral	(74)			(74)
Unrealized loss on interest rate hedges	(377)			(377)
Tax effect of unrealized loss on interest rate hedges	102			102
Distributions	(5,774)	(292)	(5,482)
Retirement of units	(3,596)		$ (3,596)
Retirement of units, shares			(411)
Ending Balance at Dec. 31, 2022	262,373	$ (3,826)	$ 281,516	(15,317)
Ending Balance, Unit at Dec. 31, 2022		326	35,681
Beginning Balance at Sep. 30, 2023	263,724	$ (4,615)	$ 281,862	(13,523)
Beginning Balance, unit at Sep. 30, 2023		326	35,603
Net income	12,979	$ 118	$ 12,861
Unrealized gain on pension plan obligation	319			319
Tax effect of unrealized gain on pension plan obligation	(75)			(75)
Unrealized gain on captive insurance collateral	932			932
Tax effect of unrealized gain on captive insurance collateral	(202)			(202)
Unrealized loss on interest rate hedges	(1,042)			(1,042)
Tax effect of unrealized loss on interest rate hedges	285			285
Distributions	(6,118)	(334)	(5,784)
Retirement of units	(150)		$ (150)
Retirement of units, shares			(13)
Ending Balance at Dec. 31, 2023	$ 270,652	$ (4,831)	$ 288,789	$ (13,306)
Ending Balance, Unit at Dec. 31, 2023		326	35,590

Revenue Recognition

3 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

3) Revenue Recognition

The following disaggregates our revenue by major sources for the three months ended December 31, 2023 and December 31, 2022:


	Three Months Ended December 31,
(in thousands)	2023		2022
Petroleum Products:
Home heating oil and propane	$	351,214	$	435,523
Other petroleum products		97,336		134,406
Total petroleum products		448,550		569,929
Installations and Services:
Equipment installations		34,315		32,789
Equipment maintenance service contracts		28,916		28,716
Billable call services		16,315		16,753
Total installations and services		79,546		78,258
Total Sales	$	528,096	$	648,187

Deferred Contract Costs

We recognize an asset for incremental commission expenses paid to sales personnel in conjunction with obtaining new residential customer product and equipment maintenance service contracts. We defer these costs only when we have determined the commissions are, in fact, incremental and would not have been incurred absent the customer contract. Costs to obtain a contract are amortized and recorded ratably as delivery and branch expenses over the period representing the transfer of goods or services to which the assets relate. Costs to obtain new residential product and equipment maintenance service contracts are amortized as expense over the estimated customer relationship period of approximately five years. Deferred contract costs are classified as current or non-current within “Prepaid expenses and other current assets” and “Deferred charges and other assets, net,” respectively. At December 31, 2023, the amount of deferred contract costs included in “Prepaid expenses and other current assets” and “Deferred charges and other assets, net” was $3.3 million and $5.6 million, respectively. At September 30, 2023, the amount of deferred contract costs included in “Prepaid expenses and other current assets” and “Deferred charges and other assets, net” was $3.3 million and $5.4 million, respectively. For the three months ended December 31, 2023 and December 31, 2022 we recognized expense of $1.0 million

associated with the amortization of deferred contract costs within “Delivery and branch expenses” in the Condensed Consolidated Statement of Operations.

Contract Liability Balances

The Company has contract liabilities for advanced payments received from customers for future oil deliveries (primarily amounts received from customers on “smart pay” budget payment plans in advance of oil deliveries) and obligations to service customers with equipment maintenance service contracts. Contract liabilities are recognized straight-line over the service contract period, generally one year or less. As of December 31, 2023 and September 30, 2023 the Company had contract liabilities of $161.9 million and $170.3 million, respectively. During the three months ended December 31, 2023, the Company recognized $91.6 million of revenue that was included in the September 30, 2023 contract liability balance. During the three months ended December 31, 2022 the Company recognized $85.6 million of revenue that was included in the September 30, 2022 contract liability balance.

Receivables and Allowance for Doubtful Accounts

Accounts receivables from customers are recorded at the invoiced amounts. Finance charges may be applied to trade receivables that are more than 30 days past due, and are recorded as finance charge income.

The allowance for doubtful accounts is the Company’s estimate of the amount of trade receivables that may not be collectible. The allowance is determined at an aggregate level by grouping accounts based on certain account criteria and its receivable aging. The allowance is based on both quantitative and qualitative factors, including historical loss experience, historical collection patterns, overdue status, aging trends, current and future economic conditions. The Company has an established process to periodically review current and past due trade receivable balances to determine the adequacy of the allowance. No single statistic or measurement determines the adequacy of the allowance. The total allowance reflects management’s estimate of losses inherent in its trade receivables at the balance sheet date. Different assumptions or changes in economic conditions could result in material changes to the allowance for doubtful accounts.

Changes in the allowance for credit losses are as follows:


(in thousands)	Credit Loss Allowance
Balance at September 30, 2023	$	8,375
Current period provision		649
Write-offs, net and other		(950	)
Balance as of December 31, 2023	$	8,074

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Supplemental Disclosure of Cash Flow Information - Schedule of Supplemental Disclosure of Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid during the period for:
Income taxes, net	$ 4,819	$ 5,479
Interest	$ 3,768	$ 4,286

Income Taxes - Current and Deferred Income Tax Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred Income Tax Assets And Liabilities
Income before income taxes	$ 18,153	$ 19,002
Current income tax expense	6,765	6,687
Deferred income tax expense (benefit)	(1,591)	(1,224)
Total income tax expense	$ 5,174	$ 5,463

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-SubTopic 20
-Topic 940
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.5-03(10))
-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Line Items]
Unrecognized income tax benefits	$ 0
Federal
Income Tax Disclosure [Abstract]
Number of years for examination	4 years
New York
Income Tax Disclosure [Abstract]
Number of years for examination	4 years
Connecticut
Income Tax Disclosure [Abstract]
Number of years for examination	4 years
Pennsylvania
Income Tax Disclosure [Abstract]
Number of years for examination	4 years
New Jersey
Income Tax Disclosure [Abstract]
Number of years for examination	5 years

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Sales:

Total sales

$ 528,096

$ 648,187

Cost and expenses:

(Increase) decrease in the fair value of derivative instruments

^[1]

19,030

17,636

Delivery and branch expenses

94,364

97,936

Depreciation and amortization expenses

8,386

7,837

General and administrative expenses

7,021

6,856

Finance charge income

(771)

(1,319)

Operating income

21,621

23,605

Interest expense, net

(3,218)

(4,274)

Amortization of debt issuance costs

(250)

(329)

Income before income taxes

18,153

19,002

Income tax expense

5,174

5,463

Net income

12,979

13,539

General Partner's interest in net income

118

122

Limited Partners' interest in net income

$ 12,861

$ 13,417

Basic and diluted income per Limited Partner Unit:

^[2]

$ 0.32

$ 0.33

Weighted average number of Limited Partner units outstanding:

Weighted average number of Limited Partner units outstanding, Basic

35,593

35,916

Weighted average number of Limited Partner units outstanding, Diluted

35,593

35,916

Product

Sales:

Total sales

$ 448,550

$ 569,929

Installations and services

Sales:

Total sales

79,546

78,258

Cost of product

Cost and expenses:

Cost and expenses

303,338

419,093

Cost of installations and services

Cost and expenses:

Cost and expenses

$ 75,107

$ 76,543

[1]	Represents the change in value of unrealized open positions and expired options.
[2]	See Note 15 - Earnings Per Limited Partner Unit.

Long-Term Debt and Bank Facility Borrowings - Company's Debt (Detail) - USD ($)
$ in Thousands

Dec. 31, 2023

Sep. 30, 2023

Debt Instrument [Line Items]

Long-term debt, carrying Amount

$ 195,760

$ 148,067

Current maturities of long-term debt, carrying Amount

72,502

20,740

Long-term debt

^[1]

123,258

127,327

Long-term debt, fair value

^[2]

196,377

148,740

Current maturities of long-term debt, fair value

^[2]

72,502

20,740

Long-term portion of debt, fair value

^[1],[2]

123,875

128,000

Revolving Credit Facility

Debt Instrument [Line Items]

Credit facility borrowings, carrying Amount

51,877

240

Credit facility borrowings, fair value

^[2]

51,877

240

Term Loan

Debt Instrument [Line Items]

Long-term debt, carrying Amount

^[1]

143,883

147,827

Long-term debt, fair value

^[1],[2]

$ 144,500

$ 148,500

[1]	Carrying amounts are net of unamortized debt issuance costs of $0.6 million as of December 31, 2023 and $0.7 million as of September 30, 2023
[2]	The face amount of the Company’s variable rate long-term debt approximates fair value.

Income Taxes

3 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

12) Income Taxes

The accompanying financial statements are reported on a fiscal year, however, the Company and its corporate subsidiaries file Federal and State income tax returns on a calendar year.

The current and deferred income tax expense for the three months ended December 31, 2023 and December 31, 2022 are as follows:


	Three Months Ended
	December 31,
(in thousands)	2023			2022
Income before income taxes	$	18,153		$	19,002
Current income tax expense		6,765			6,687
Deferred income tax expense (benefit)		(1,591	)		(1,224	)
Total income tax expense	$	5,174		$	5,463

At December 31, 2023, we did not have unrecognized income tax benefits.

Our continuing practice is to recognize interest and penalties related to income tax matters as a component of income tax expense. We file U.S. Federal income tax returns and various state and local returns. A number of years may elapse before an uncertain tax position is audited and finally resolved. For our Federal income tax returns we have four tax years subject to examination. In our major state tax jurisdictions of New York, Connecticut and Pennsylvania, we have four years that are subject to examination. In the state tax jurisdiction of New Jersey we have five tax years that are subject to examination. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, based on our assessment of many factors, including past experience and interpretation of tax law, we believe that our provision for income taxes reflect the most probable outcome. This assessment relies on estimates and assumptions and may involve a series of complex judgments about future events.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 17
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Earnings Per Limited Partner Unit (Tables)

3 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Income Allocation and Per Unit Data

The following table presents the net income allocation and per unit data:


	Three Months Ended
Basic and Diluted Earnings Per Limited Partner:	December 31,
(in thousands, except per unit data)	2023		2022
Net income	$	12,979	$	13,539
Less General Partner’s interest in net income		118		122
Net income available to limited partners		12,861		13,417
Less dilutive impact of theoretical distribution of earnings *		1,588		1,723
Limited Partner’s interest in net income	$	11,273	$	11,694
Per unit data:
Basic and diluted net income available to limited partners	$	0.36	$	0.37
Less dilutive impact of theoretical distribution of earnings *		0.04		0.04
Limited Partner’s interest in net income	$	0.32	$	0.33
Weighted average number of Limited Partner units outstanding		35,593		35,916

Captive Insurance Collateral (Tables)

3 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Captive Insurance Collateral to be Available-for-sale Investments

The Company considers all of its captive insurance collateral to be Level 1 available-for-sale investments. Investments at December 31, 2023 consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Cash and Receivables	$	6,365	$	—	$	—		$	6,365
U.S. Government Sponsored Agencies		50,813		11		(966	)		49,858
Corporate Debt Securities		16,209		3		(415	)		15,797
Total	$	73,387	$	14	$	(1,381	)	$	72,020

Investments at September 30, 2023 consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Cash and Receivables	$	4,335	$	—	$	—		$	4,335
U.S. Government Sponsored Agencies		50,471		—		(1,620	)		48,851
Corporate Debt Securities		18,210		12		(691	)		17,531
Total	$	73,016	$	12	$	(2,311	)	$	70,717

Schedule of Maturities of Investments

Maturities of investments were as follows at December 31, 2023 (in thousands):


	Net Carrying Amount
Due within one year	$	52,825
Due after one year through five years		19,195
Due after five years through ten years		—
Total	$	72,020

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Section 50
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-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Derivatives and Hedging-Disclosures and Fair Value Measurements - Company's Commodity Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - Derivatives Not Designated as Hedging Instruments under FASB ASC 815-10 - Commodity Contract - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts	$ 18,818	$ 18,670
Derivative Liabilities, commodity contracts	(33,856)	(8,028)
Fair liability and fair asset value of derivative instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts	17,620	17,891
Derivative Liabilities, commodity contracts	(32,452)	(7,349)
Other long-term liabilities, net balance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts	1,198
Derivative Liabilities, commodity contracts	(1,404)
Deferred charges and other assets, net and other long-term liabilities, net balances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts		779
Derivative Liabilities, commodity contracts		(679)
Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts	18,818	18,670
Derivative Liabilities, commodity contracts	(33,856)	(8,028)
Significant Other Observable Inputs Level 2 \| Fair liability and fair asset value of derivative instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts	17,620	17,891
Derivative Liabilities, commodity contracts	(32,452)	(7,349)
Significant Other Observable Inputs Level 2 \| Other long-term liabilities, net balance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts	1,198
Derivative Liabilities, commodity contracts	$ (1,404)
Significant Other Observable Inputs Level 2 \| Deferred charges and other assets, net and other long-term liabilities, net balances
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets, commodity contracts		779
Derivative Liabilities, commodity contracts		$ (679)

Long-Term Debt and Bank Facility Borrowings - Additional Information (Detail)

1 Months Ended

3 Months Ended

4 Months Ended

Feb. 28, 2024

Sep. 30, 2023

USD ($)

Jul. 06, 2022

USD ($)

Oct. 30, 2023

Dec. 31, 2023

USD ($)

Dec. 31, 2022

USD ($)

Feb. 27, 2024

Debt Instrument [Line Items]

Additional loan repayments

$ 4,000,000

$ 4,125,000

Fixed charge coverage ratio

1.39

Hedging positions and payable amounts secured under credit facility

$ 100,000

$ 15,700,000

Letters of credit issued and outstanding

3,200,000

Long-term debt, fair value

^[1]

148,740,000

196,377,000

Revolving credit facility outstanding

240,000

51,877,000

Availability under credit agreement

$ 202,100,000

$ 189,200,000

Term Loan

Debt Instrument [Line Items]

Debt instrument, effective interest rate

6.60%

7.40%

Long-term debt, fair value

^[1],[2]

$ 148,500,000

$ 144,500,000

Revolving Credit Facility

Debt Instrument [Line Items]

Debt instrument, effective interest rate

6.30%

8.60%

Revolving credit facility outstanding

$ 200,000

$ 51,900,000

Credit Agreement

Debt Instrument [Line Items]

Non Seasonal maximum borrowing capacity under revolving credit facility

$ 400,000,000

Maximum borrowing capacity (heating season December to April) under revolving credit facility

550,000,000

Issuance of line of credit for working capital purposes

$ 25,000,000

Senior secured term loan maturity date

Jul. 06, 2027

Facility size that can be increased additional without consulting bank group

200,000,000

Facility size that can be increased without consulting bank group

200,000,000

Term loan annual payment percentage

25.00%

Additional loan repayments

4,000,000.0

$ 0

Commitment fee on the unused portion of the facility from December through April

0.30%

Commitment fee on the unused portion of the facility from May through November

0.20%

Minimum fixed charge coverage ratio

110.00%

Availability percentage to maximum facility size

12.50%

Minimum fixed charge coverage ratio to be maintained credit facilities

1.10%

Credit Agreement | Scenario Forecast

Debt Instrument [Line Items]

Minimum fixed charge coverage ratio to be maintained credit facilities

1.00%

Credit Agreement | Maximum

Debt Instrument [Line Items]

Senior secured leverage ratio during quarters ending June or September

300.00%

Senior secured leverage ratio during quarters ending December or March

550.00%

Credit Agreement | Quarterly

Debt Instrument [Line Items]

Term loan periodic payment

$ 4,100,000

4,100,000

Credit Agreement | Annually | Maximum

Debt Instrument [Line Items]

Term loan periodic payment

$ 8,500,000

Credit Agreement | Term Loan

Debt Instrument [Line Items]

Outstanding term loan

$ 165,000,000

Senior secured term loan maturity period

5 years

Sixth Amendment

Debt Instrument [Line Items]

Non Seasonal maximum borrowing capacity under revolving credit facility

$ 400,000,000

Maximum borrowing capacity (heating season December to April) under revolving credit facility

$ 550,000,000

Minimum fixed charge coverage ratio for distributions to unit holders or to repurchase common units

100.00%

1.15%

Sixth Amendment | Scenario Forecast

Debt Instrument [Line Items]

Minimum fixed charge coverage ratio for distributions to unit holders or to repurchase common units

1.15%

1.00%

Sixth Amendment | Term Loan

Debt Instrument [Line Items]

Outstanding term loan

$ 165,000,000

Senior secured term loan maturity period

5 years

[1]	The face amount of the Company’s variable rate long-term debt approximates fair value.
[2]	Carrying amounts are net of unamortized debt issuance costs of $0.6 million as of December 31, 2023 and $0.7 million as of September 30, 2023

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 12,979	$ 13,539
Other comprehensive income:
Unrealized gain on pension plan obligation	319	380
Tax effect of unrealized gain on pension plan obligation	(75)	(97)
Unrealized gain on captive insurance collateral	932	355
Tax effect of unrealized gain on captive insurance collateral	(202)	(74)
Unrealized loss on interest rate hedges	(1,042)	(377)
Tax effect of unrealized loss on interest rate hedges	285	102
Total other comprehensive income	217	289
Total comprehensive income	$ 13,196	$ 13,828

Inventories - Components of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Product	$ 61,859	$ 33,994
Parts and equipment	22,174	22,469
Total inventory	$ 84,033	$ 56,463

Business Combinations and Divestitures - Additional Information (Detail) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($) PartnershipUnit	Dec. 31, 2022 USD ($) PartnershipUnit	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill	$ 262,347		$ 262,103
Heating Oil Businesses
Business Acquisition [Line Items]
Number of businesses acquired \| PartnershipUnit	2	2
Cash and assuming	$ 2,500	$ 1,200
Aggregate purchase price allocation, intangible assets	2,700	1,700
Goodwill	200	200
Aggregate purchase price allocation, fixed assets	800	200
Gross purchase price increased (reduced) by working capital credits	$ 1,200	(900)
Cash proceeds from sale of assets		$ 2,200

- Definition

+ References + Details

Common Unit Repurchase and Retirement (Tables)

3 Months Ended

Dec. 31, 2023

Equity [Abstract]

Company's Repurchase Activities

The following table shows repurchases under the Repurchase Plan:


(in thousands, except per unit amounts)
Period	Total Number of Units Purchased		Average Price Paid per Unit (a)		Total Number of Units Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Units that May Yet Be Purchased
Fiscal year 2012 to 2023 total		25,422	$	8.82		20,534		2,568

October 2023		13	$	11.27		13		2,555
November 2023		—		—		—		2,555
December 2023		—		—		—		2,555
First quarter fiscal year 2024 total		13	$	11.27		13		2,555

January 2024		15	$	11.27		15		2,540	(b)

(a)

Amount includes repurchase costs.

(b)

Goodwill and Intangible Assets, net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 5.0	$ 4.3

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

3 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

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


(In thousands)					Fair Value Measurements at Reporting Date Using:
Derivatives Not Designated as Hedging Instruments					Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs
Under FASB ASC 815-10	Balance Sheet Location	Total			Level 1		Level 2
Asset Derivatives at December 31, 2023
Commodity contracts	Fair liability value of derivative instruments	$	17,620		$	—	$	17,620
Commodity contracts	Other long-term liabilities, net balance		1,198			—		1,198
Commodity contract assets at December 31, 2023		$	18,818		$	—	$	18,818
Liability Derivatives at December 31, 2023
Commodity contracts	Fair liability value of derivative instruments	$	(32,452	)	$	—	$	(32,452	)
Commodity contracts	Other long-term liabilities, net balance		(1,404	)		—		(1,404	)
Commodity contract liabilities at December 31, 2023		$	(33,856	)	$	—	$	(33,856	)
Asset Derivatives at September 30, 2023
Commodity contracts	Fair asset and liability value of derivative instruments	$	17,891		$	—	$	17,891
Commodity contracts	Long-term derivative assets included in the deferred charges and other assets, net and other long-term liabilities, net balances		779			—		779
Commodity contract assets September 30, 2023		$	18,670		$	—	$	18,670
Liability Derivatives at September 30, 2023
Commodity contracts	Fair asset and liability value of derivative instruments	$	(7,349	)	$	—	$	(7,349	)
Commodity contracts	Long-term derivative liabilities included in the deferred charges and other assets, net and other long-term liabilities, net balances		(679	)		—		(679	)
Commodity contract liabilities September 30, 2023		$	(8,028	)	$	—	$	(8,028	)

Company's Commodity Derivatives Assets (Liabilities) Offset by Counterparty

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


(In thousands)									Gross Amounts Not Offset in the Statement of Financial Position
Offsetting of Financial Assets (Liabilities) and Derivative Assets (Liabilities)	Gross Assets Recognized		Gross Liabilities Offset in the Statement of Financial Position			Net Assets (Liabilities) Presented in the Statement of Financial Position			Financial Instruments		Cash Collateral Received		Net Amount
Fair liability value of derivative instruments	$	17,620	$	(32,452	)	$	(14,832	)	$	—	$	—	$	(14,832	)
Long-term derivative liabilities included in other long-term liabilities, net		1,198		(1,404	)		(206	)		—		—		(206	)
Total at December 31, 2023	$	18,818	$	(33,856	)	$	(15,038	)	$	—	$	—	$	(15,038	)
Fair asset value of derivative instruments	$	17,815	$	(7,155	)	$	10,660		$	—	$	—	$	10,660
Long-term derivative assets included in deferred charges and other assets, net		567		(452	)		115			—		—		115
Fair liability value of derivative instruments		76		(194	)		(118	)		—		—		(118	)
Long-term derivative liabilities included in other long-term liabilities, net		212		(227	)		(15	)		—		—		(15	)
Total at September 30, 2023	$	18,670	$	(8,028	)	$	10,642		$	—	$	—	$	10,642

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


(In thousands)
The Effect of Derivative Instruments on the Statement of Operations
		Amount of (Gain) or Loss Recognized
Derivatives Not Designated as Hedging Instruments Under FASB ASC 815-10	Location of (Gain) or Loss Recognized in Income on Derivative	Three Months Ended December 31, 2023			Three Months Ended December 31, 2022
Commodity contracts	Cost of product (a)	$	4,723		$	(8,942	)
Commodity contracts	Cost of installations and service (a)	$	14		$	40
Commodity contracts	Delivery and branch expenses (a)	$	(392	)	$	(200	)
Commodity contracts	(Increase) / decrease in the fair value of derivative instruments (b)	$	19,030		$	17,636

(a)

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

(b)

Represents the change in value of unrealized open positions and expired options.

Income Taxes (Tables)

3 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Current and Deferred Income Tax Expense

The current and deferred income tax expense for the three months ended December 31, 2023 and December 31, 2022 are as follows:


	Three Months Ended
	December 31,
(in thousands)	2023			2022
Income before income taxes	$	18,153		$	19,002
Current income tax expense		6,765			6,687
Deferred income tax expense (benefit)		(1,591	)		(1,224	)
Total income tax expense	$	5,174		$	5,463

Goodwill and Intangible Assets, net (Tables)

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Company's Goodwill

A summary of changes in Company’s goodwill is as follows (in thousands):


Balance as of September 30, 2023	$	262,103
Fiscal year 2024 business combinations		244
Balance as of December 31, 2023	$	262,347

Intangible Assets Subject to Amortization

The gross carrying amount and accumulated amortization of intangible assets subject to amortization are as follows (in thousands):


	December 31, 2023						September 30, 2023
	Gross						Gross
	Carrying		Accum.				Carrying		Accum.
	Amount		Amortization		Net		Amount		Amortization		Net
Customer lists	$	420,460	$	362,914	$	57,546	$	418,190	$	358,855	$	59,335
Trade names and other intangibles		42,197		25,774		16,423		41,782		24,811		16,971
Total	$	462,657	$	388,688	$	73,969	$	459,972	$	383,666	$	76,306

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Revenue Recognition [Line Items]
Contract costs, amortization period	5 years
Contract liabilities	$ 161.9		$ 170.3
Contract with customer liability, revenue recognized	$ 91.6	$ 85.6
Maximum
Revenue Recognition [Line Items]
Contract liabilities recognition service contract period	1 year
Delivery and Branch Expenses
Revenue Recognition [Line Items]
Amortization of deferred contract costs	$ 1.0	$ 1.0
Prepaid Expense and Other Current Assets
Revenue Recognition [Line Items]
Deferred contract costs,current	3.3		3.3
Deferred Charges and Other Assets, Net
Revenue Recognition [Line Items]
Deferred contract costs,non current	$ 5.6		$ 5.4

Long-Term Debt and Bank Facility Borrowings

3 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt and Bank Facility Borrowings

11) Long-Term Debt and Bank Facility Borrowings

The Company’s debt is as follows (in thousands):


	December 31,				September 30,
	2023				2023
	Carrying Amount		Fair Value (a)		Carrying Amount		Fair Value (a)
Revolving Credit Facility Borrowings	$	51,877	$	51,877	$	240	$	240
Senior Secured Term Loan (b)		143,883		144,500		147,827		148,500
Total debt	$	195,760	$	196,377	$	148,067	$	148,740
Total short-term portion of debt	$	72,502	$	72,502	$	20,740	$	20,740
Total long-term portion of debt (b)	$	123,258	$	123,875	$	127,327	$	128,000

(a)

The face amount of the Company’s variable rate long-term debt approximates fair value.

(b)

Carrying amounts are net of unamortized debt issuance costs of $0.6 million as of December 31, 2023 and $0.7 million as of September 30, 2023.

On July 6, 2022, the Company refinanced its five-year term loan and the revolving credit facility with the execution of the sixth amended and restated revolving credit facility agreement (the “credit agreement”) with a bank syndicate comprised of ten participants, which enables the Company to borrow up to $400 million ($550 million during the heating season of December through April of each year) on a revolving credit facility for working capital purposes (subject to certain borrowing base limitations and coverage ratios), provides for a $165 million five-year senior secured term loan (“Term Loan”), allows for the issuance of up to $25 million in letters of credit, and has a maturity date of July 6, 2027.

The Company can increase the revolving credit facility size by an additional $200 million without the consent of the bank group. However, the bank group is not obligated to fund the $200 million increase. If the bank group elects not to fund the increase, the Company can add additional lenders to the group, with the consent of the Agent (as defined in the credit agreement), which shall not be unreasonably withheld. Obligations under the credit agreement are guaranteed by the Company and its subsidiaries and are secured by liens on substantially all of the Company’s assets, including accounts receivable, inventory, general intangibles, real property, fixtures and equipment.

All amounts outstanding under the sixth amended and restated revolving credit facility become due and payable on the facility termination date of July 6, 2027. The Term Loan is repayable in quarterly payments of $4.1 million, the first of which was made December 30, 2022, plus an annual payment equal to 25% of the annual Excess Cash Flow as defined in the credit agreement (an amount not to exceed $8.5 million annually), less certain voluntary prepayments made during the year, with final payment at maturity. In the first quarter of 2024 the Company repaid $4.0 million of additional loan repayments due to Excess Cash Flow related to fiscal 2023. There was no additional loan repayments due to Excess Cash Flow in the first quarter of fiscal 2023 related to fiscal 2022. The $4.1 million quarterly payment for the quarter ended December 31, 2023 was made on January 2, 2024.

The interest rate on the revolving credit facility and the term loan is based on a margin over Adjusted Term Secured Overnight Financing Rate ("SOFR") or a base rate. At December 31, 2023, the effective interest rate on the term loan (considering the impact of interest rate hedges) and revolving credit facility borrowings was approximately 7.4% and 8.6%, respectively, compared to 6.6% and 6.3%, respectively at September 30, 2023.

The commitment fee on the unused portion of the revolving credit facility is 0.30% from December through April, and 0.20% from May through November.

The credit agreement requires the Company to meet certain financial covenants, including a fixed charge coverage ratio (as defined in the credit agreement) of not less than 1.1 as long as the Term Loan is outstanding or revolving credit facility availability is less than 12.5% of the facility size. In addition, as long as the Term Loan is outstanding, a senior secured leverage ratio cannot be more than 3.0 as calculated as of the quarters ending June or September, and no more than 5.5 as calculated as of the quarters ending December or March.

On September 26, 2023, the Company signed a first amendment (the “Amendment”) to its Sixth Amended and Restated Credit Agreement with a group of banks, which provides temporary relief from certain financial covenants under the Credit Agreement that must be satisfied in order for the Company to make distributions and unit repurchases or, if availability under the Credit Agreement drops below a minimum threshold due to, among other things, the Company making acquisitions. In particular, the Amendment reduces the minimum fixed charge coverage ratio for distributions and unit repurchases during the period commencing October 31, 2023 and ending February 27, 2024 (the “Relief Period”) from 1.15-to-1.00 down to 1.00-to-1.00. The Amendment also reduces the minimum fixed charge coverage ratio that must be maintained by the Company if availability under the under the Credit Agreement drops below 12.5% of the facility size during the Relief Period from 1.10-to-1.00 down to 1.00-to-1.00. The Company’s fixed charge coverage ratio as of December 31, 2023 was 1.39 to 1.00.

Certain restrictions are also imposed by the sixth amended and restated credit agreement, including restrictions on the Company’s ability to incur additional indebtedness, to pay distributions to unitholders, to pay certain inter-company dividends or distributions, repurchase units, make investments, grant liens, sell assets, make acquisitions and engage in certain other activities.

At December 31, 2023, $144.5 million of the Term Loan was outstanding, $51.9 million was outstanding under the revolving credit facility, $15.7 million hedge positions were secured under the credit agreement, and $3.2 million of letters of credit were issued and outstanding. At September 30, 2023, $148.5 million of the term loan was outstanding, $0.2 million was outstanding under the revolving credit facility, $0.1 million hedge positions were secured under the credit agreement and $3.2 million of letters of credit were issued and outstanding.

At December 31, 2023, availability was $189.2 million, and the Company was in compliance with the financial covenants. At September 30, 2023, availability was $202.1 million, and the Company was in compliance with the financial covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Receivables, allowance	$ 8,074	$ 8,375

Common Unit Repurchase and Retirement - Company's Repurchase Activities (Detail) - $ / shares
shares in Thousands

1 Months Ended

3 Months Ended

131 Months Ended

132 Months Ended

Jan. 31, 2024

Oct. 31, 2023

Dec. 31, 2023

May 31, 2023

Sep. 30, 2023

Nov. 30, 2023

Repurchase Plan

Capital Unit [Line Items]

Total Number of Units Purchased

20,500

25,422

Average Price Paid per Unit

^[1]

$ 11.27

$ 8.82

Maximum Number of Units that May Yet Be Purchased

2,555

2,568

2,555

Repurchase Plan | Subsequent Event

Capital Unit [Line Items]

Total Number of Units Purchased

Average Price Paid per Unit

^[1]

$ 11.27

Maximum Number of Units that May Yet Be Purchased

^[2]

2,540

Publicly Announced Plans or Programs As Part of Repurchase Plan

Capital Unit [Line Items]

Total Number of Units Purchased

20,534

Publicly Announced Plans or Programs As Part of Repurchase Plan | Subsequent Event

Capital Unit [Line Items]

Total Number of Units Purchased

[1]	Amount includes repurchase costs.
[2]	Of the total available for repurchase, approximately 2.2 million units are available for repurchase in open market transactions and approximately 0.3 million units are available for repurchase in privately-negotiated transactions, under the Repurchase Plan.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 12,979	$ 13,539

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Section 50
-Paragraph 1
-Subparagraph (b)(2)
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
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-Section 55
-Paragraph 10
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-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
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-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/exampleRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Organization - Additional Information (Detail) shares in Thousands		3 Months Ended
	Jul. 06, 2022 USD ($)	Dec. 31, 2023 Segment Customer shares	Sep. 30, 2023 shares	Dec. 31, 2022 shares	Sep. 30, 2022 shares
Limited Partners' Capital Account [Line Items]
Number of reportable segments \| Segment		1
Number of residential and commercial home heating oil and propane customers served		21,200
Number of customers to whom sell gasoline and diesel fuel		26,900
Sixth Amendment
Limited Partners' Capital Account [Line Items]
Non Seasonal maximum borrowing capacity under revolving credit facility \| $	$ 400,000,000
Maximum borrowing capacity (heating season December to April) under revolving credit facility \| $	$ 550,000,000
Due date of debt	Jul. 06, 2027
Sixth Amendment \| Term Loan
Limited Partners' Capital Account [Line Items]
Outstanding term loan \| $	$ 165,000,000
Senior secured term loan maturity period	5 years
Petro Holdings, Inc
Limited Partners' Capital Account [Line Items]
Ownership interest of Star Acquisitions Inc.		100.00%
Number of customers to whom only home heating oil, gasoline and diesel were sells on a delivery only basis		57,600
Number of residential and commercial home heating oil and propane customers served		404,800
Star Group L.P.
Limited Partners' Capital Account [Line Items]
Percentage of limited partner interest		99.10%
Percentage of general partner interest		0.90%
Star Acquisitions, Inc
Limited Partners' Capital Account [Line Items]
Ownership interest of partnership		100.00%
Common Stock
Limited Partners' Capital Account [Line Items]
Number of outstanding units \| shares		35,590	35,603	35,681	36,092
General Partner
Limited Partners' Capital Account [Line Items]
Number of outstanding units \| shares		326	326	326	326

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Dec. 31, 2023

Sep. 30, 2023

Current assets

Cash and cash equivalents

$ 19,925

$ 45,191

Receivables, net of allowance of $8,074 and $8,375, respectively

187,122

114,079

Inventories

84,033

56,463

Fair asset value of derivative instruments

10,660

Prepaid expenses and other current assets

38,409

28,308

Total current assets

329,489

254,701

Property and equipment, net

105,158

105,404

Operating lease right-of-use assets

87,725

90,643

Goodwill

262,347

262,103

Intangibles, net

73,969

76,306

Restricted cash

250

Captive insurance collateral

72,020

70,717

Deferred charges and other assets, net

13,981

15,354

Total assets

944,939

875,478

Current liabilities

Accounts payable

45,881

35,609

Revolving credit facility borrowings

51,877

240

Fair liability value of derivative instruments

14,832

118

Current maturities of long-term debt

20,625

20,500

Current portion of operating lease liabilities

17,923

18,085

Accrued expenses and other current liabilities

118,382

115,606

Unearned service contract revenue

75,371

63,215

Customer credit balances

90,916

111,508

Total current liabilities

435,807

364,881

Long-term debt

^[1]

123,258

127,327

Long-term operating lease liabilities

74,752

77,600

Deferred tax liabilities, net

24,172

25,771

Other long-term liabilities

16,298

16,175

Partners’ capital

Common unitholders

288,789

281,862

General partner

(4,831)

(4,615)

Accumulated other comprehensive loss, net of taxes

(13,306)

(13,523)

Total partners’ capital

270,652

263,724

Total liabilities and partners’ capital

$ 944,939

$ 875,478

[1]	Carrying amounts are net of unamortized debt issuance costs of $0.6 million as of December 31, 2023 and $0.7 million as of September 30, 2023

Property and Equipment (Tables)

3 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment are stated at cost. Depreciation and amortization is computed over the estimated useful lives of the depreciable assets using the straight-line method (in thousands):


	December 31, 2023		September 30, 2023
Property and equipment	$	246,555	$	244,816
Less: accumulated depreciation and amortization		141,397		139,412
Property and equipment, net	$	105,158	$	105,404

Captive Insurance Collateral

3 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Captive Insurance Collateral

5) Captive Insurance Collateral

The Company considers all of its captive insurance collateral to be Level 1 available-for-sale investments. Investments at December 31, 2023 consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Cash and Receivables	$	6,365	$	—	$	—		$	6,365
U.S. Government Sponsored Agencies		50,813		11		(966	)		49,858
Corporate Debt Securities		16,209		3		(415	)		15,797
Total	$	73,387	$	14	$	(1,381	)	$	72,020

Investments at September 30, 2023 consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Cash and Receivables	$	4,335	$	—	$	—		$	4,335
U.S. Government Sponsored Agencies		50,471		—		(1,620	)		48,851
Corporate Debt Securities		18,210		12		(691	)		17,531
Total	$	73,016	$	12	$	(2,311	)	$	70,717

Maturities of investments were as follows at December 31, 2023 (in thousands):


	Net Carrying Amount
Due within one year	$	52,825
Due after one year through five years		19,195
Due after five years through ten years		—
Total	$	72,020

Derivatives and Hedging-Disclosures and Fair Value Measurements - Effect of Derivative Instruments on Statement of Operations (Detail) - USD ($)
$ in Thousands

3 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Derivative Instruments, Gain (Loss) [Line Items]

Amount of (Gain) or Loss Unrealized, commodity contracts

^[1]

$ 19,030

$ 17,636

Fair Value, Measurements, Recurring | Derivatives Not Designated as Hedging Instruments under FASB ASC 815-10 | Commodity Contract | Cost of product

Derivative Instruments, Gain (Loss) [Line Items]

Amount of (Gain) or Loss Recognized, commodity contracts

^[2]

$ 4,723

$ (8,942)

Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Cost and expenses

Fair Value, Measurements, Recurring | Derivatives Not Designated as Hedging Instruments under FASB ASC 815-10 | Commodity Contract | Cost of installations and service

Derivative Instruments, Gain (Loss) [Line Items]

Amount of (Gain) or Loss Recognized, commodity contracts

^[2]

$ 14

$ 40

Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Cost and expenses

Fair Value, Measurements, Recurring | Derivatives Not Designated as Hedging Instruments under FASB ASC 815-10 | Commodity Contract | Delivery and branch expenses

Derivative Instruments, Gain (Loss) [Line Items]

Amount of (Gain) or Loss Recognized, commodity contracts

^[2]

$ (392)

$ (200)

Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]

Delivery and branch expenses

[1]	Represents the change in value of unrealized open positions and expired options.
[2]	Represents realized closed positions and includes the cost of options as they expire.