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Balance SheetSIncome StatementhIncome Statement (1)&wUnaudited Condensed ConsolidateU
Cash FlowsDisaggregated Revenue3 Leases"3 Leases (1)3 Leases (2) 3 Leases (3)&4 Accumulated Other ComprehensiZ
5 Inventories6 Credit Agreement8 Segment Reporting&9 Financial Instruments and Off&F9 Financial Instruments and (1)_Derivative Instruments!rDerivative Instruments (1)!Derivative Instruments (2)!Derivative Instruments (3) [Interest Rate DerivativesiContingent Consideration&GEquity Awards Performancebased 412 Earnings Per UnitWResults of Operations&MReconciliation to Adjusted Gros&FThree Months Ended March 31 201&BThree Months Ended March 31 (1)Capital Expenditures8Cash Flows (1)5DCommodity Price RiskNCommodity Price Risk (1)~YInterest Rate Risk!dDerivative Instruments (4) {
EXHIBIT INDEX
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??%!Registrant s telephone numb (1)Table of Contents
Balance SheetIncome StatementIncome Statement (1)!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }}0}1
Sprague Resources LP10Q
05/08/2019JBRegistrant s telephone number, including area code: (800) 2251560
Title of each class
Trading Symbol(s)1
)Name of each exchange on which registered!Common Units RepresentingSRLPNew York Stock ExchangePartner Interests
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(T`TH<0C=PF0*8X>
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Balance SheetIncome StatementIncome Statement (1)!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }U}$}}$
Sprague Resources LP10Q
05/08/2019JBRegistrant s telephone number, including area code: (800) 2251560
Large accelerated filer
o
Accelerated filer
xNonaccelerated filer o!Smaller reporting company oEmerging growth company o
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(T`TH<0F=PF0*8X>
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Balance SheetIncome StatementIncome Statement (1)!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }y
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6
Sprague Resources LP10Q
05/08/2019Table of Contents
Page$PART IFINANCIAL INFORMATION
Item 1.
Financial Statements:
%Condensed Consolidated Balance Sheets~
5as of March 31, 2019 (unaudited) and December31, 2018/'Unaudited Condensed Consolidated Income~
3+Statements for the three months ended March#31, 2019 and March 31, 20183+Unaudited Condensed Consolidated Statements~
4,of Comprehensive Income for the three months/'ended March 31, 2019 and March 31, 20183+Unaudited Condensed Consolidated Statements~
0(of Unitholders? Equity (Deficit) for the3+three months ended March 31, 2019 and March31, 20183+Unaudited Condensed Consolidated Statements~
0(of Cash Flows for the three months ended)!March 31, 2019 and March 31, 20181)Notes to Unaudited Condensed Consolidated~
Financial StatementsDlyma=}2=
u6bBx !"#$%&'()*+,./012345 Item 2., $Management?s Discussion and Analysis~
Z!8!0of Financial Condition and Results of Operations"Item 3.0"(Quantitative and Qualitative Disclosures~
"##about Market Risk$Item 4.$Controls and Procedures~
$%%!&PART IIOTHER INFORMATION&'''(Item 1.(Legal Proceedings~
()Item 1A.)Risk Factors~
)*Item 2./*'Unregistered Sales of Equity Securities~
*++and Use of Proceeds,Item 3.',Defaults Upon Senior Securities~
,Item 4.Mine Safety Disclosures~
.Item 5..Other Information~
./Item 6./Exhibits~
/0
Signatures~
012$3____________________________14)Created by Morningstar Document Research.05(http://documentresearch.morningstar.com/0Gg\8lAs>=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??%!Registrant s telephone number i!Registrant s telephone numb (1)Table of ContentsIncome StatementIncome Statement (1)!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }6}$
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Sprague Resources LP10Q
05/08/2019
Balance Sheet
March 31,
December 31,~
~
(Unaudited)
Assets
Current assets:!Cash and cash equivalents~
d~
u Accounts receivable, net~
~
RyInventories~
f~
'Fair value of derivative assets~
r~
z] Other current assets~
s~
Total current assets~
"~
*2*Fair value of derivative assets, longterm~
A~
*"Property, plant and equipment, net~
.~
ZZIntangibles, net~
r~
NOther assets, net~
Ɣ~
ڇGoodwill~
v~
vTotal assets~
xE~
L+#Liabilities and unitholders? equityCurrent liabilities:Accounts payable~
&~
Accrued liabilities~
2~
,$Fair value of derivative liabilities~
~
D
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"x 5!Current portion of working capital facilities~
!n!!~
!:k !,"$Current portion of other obligations~
"p""~
"n"!#Total current liabilities~
#[##~
#N#%$Commitments and contingencies$$$$$0%(Working capital facilities, less current~
%Nu%%~
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'?''~
''(%Fair value of derivative liabilities,~
(c((~
(() longterm/*'Other obligations, less current portion~
*f**~
**1+)Operating lease liabilities, less current~
+++ ++,portionDue to General Partner~
v"~
 .Deferred income taxes~
.2%..~
../Total liabilities~
/I<//~
/C/0Unitholders? equity:000/1'Common unitholders  public (10,627,629~
1y11~
1"1%2units issued and outstanding)33+Common unitholders  affiliated (12,106,348~
3f33~
3*3%4units issued and outstanding)5%Accumulated other comprehensive loss,~
5*55~
5K56
net of tax!7Total unitholders? equity~
7*. 77~
7B\718)Total liabilities and unitholders? equity~
8xE88~
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Balance SheetIncome Statement (1)!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
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Sprague Resources LP10Q
05/08/2019Income Statement
$
Three Months Ended March 31,~
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Balance SheetIncome Statement!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }a/}$
Sprague Resources LP10Q
05/08/2019Income Statement
$
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Balance SheetIncome StatementIncome Statement (1)
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }$4}$
"
Sprague Resources LP10Q
05/08/2019SKUnaudited Condensed Consolidated Statements of Unitholders Equity (Deficit)
Common
Common
%
Incentive Distribution Rights
Accumulated
TotalPublicSprague
OtherHoldings
Comprehensive
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$Balance at December 31, 2017~
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Balance SheetIncome StatementIncome Statement (1)!Unaudited Condensed ConsolidateDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }I;}$
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Sprague Resources LP10Q
05/08/2019
Cash Flows
$
Three Months Ended March 31,~
~
,$Cash flows from operating activities
Net income~
~
.&Adjustments to reconcile net income to2*net cash provided by operating activities:/'Depreciation and amortization (includes~
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5u55~
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7d77~
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Balance SheetIncome StatementIncome Statement (1)!Unaudited Condensed Consolidate
Cash Flows
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }}$
Sprague Resources LP10Q
05/08/2019Disaggregated Revenue
$
Three Months Ended March 31,~
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Cash FlowsDisaggregated Revenue3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
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Sprague Resources LP10Q
05/08/2019 3. Leases
Operating
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d%Weighted Average Remaining Lease Term~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }1}$
Sprague Resources LP10Q
05/08/2019 3. Leases
March 31,~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }}$
Sprague Resources LP10Q
05/08/2019 3. Leases
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
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05/08/2019 3. Leases
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05/08/20198. Segment Reporting
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05/08/2019Derivative Instruments
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05/08/201912. Earnings Per Unit
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05/08/2019Results of Operations
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3)33~
3)34Heating Degree Days (7)~
4(44~
4B(415)Variance from average heating degree days~
5 5%5~
5 5%16)Variance from prior period heating degree~
6
6%6~
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Balance SheetIncome StatementIncome Statement (1)!Unaudited Condensed Consolidate
Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }%}$ }
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Sprague Resources LP10Q
05/08/2019WOThree Months Ended March 31, 2019 compared to Three Months Ended March 31, 2018
$Three Months Ended March 31, Increase/(Decrease)~
~
~
%
9
1(in thousands, except adjusted unit gross margin)Volumes:
"Refined products (gallons)~
҉!~
+#~
^~
%Natural gas (MMBtus)~
r5~
<~
~
%'Materials handling (short tons)~
j~
f~
~
B %$Materials handling (gallons)~
{~
RE~
n6~
%
Net Sales:
Refined products~
]D~
H~
J~
%Natural gas~
~
~
~
%Materials handling~
~
r~
4~
f %Other operations~
u~
p~
~
%Total net sales~
L~
2?Q~
~
%Adjusted Gross Margin:
Refined products~
~
>p~
J~
%Natural gas~
~
P~
~
%Materials handling~
~
r~
3~
f %Other operations~
2~
~
J~
%#Total adjusted gross margin~
R~
~
#~
%#Adjusted Unit Gross Margin:
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }*}$ }
Sprague Resources LP10Q
05/08/2019WOThree Months Ended March 31, 2019 compared to Three Months Ended March 31, 2018
$
Three Months Ended March 31,
Increase/(Decrease)~
~
~
%(in thousands)
Operating expenses~
s
~
j
~
2%+#Selling, general and administrative~
F~
b~
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~
~
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~
~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Cash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }I"}$
Sprague Resources LP10Q
05/08/2019Capital Expenditures
Capital Expenditures ExpansionMaintenance
Total(in thousands)$
Three Months Ended March 31,
~
~
~
~
F"~
~
~
~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCommodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }0}$
Sprague Resources LP10Q
05/08/2019
Cash Flows
$
Three Months Ended March 31,~
~
(in thousands)0
(Net cash (used in) provided by operating~
~
~v
activities%Net cash used in investing activities~
~
0(Net cash provided by (used in) financing~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }a}$ }7
Sprague Resources LP10Q
05/08/2019Commodity Price Risk
Product Group
,
$Primary Financial Hedging Instrument Gasolines#NYMEX RBOB futures contractDistillates6.NYMEX Ultra Low Sulfur Diesel futures contract
Residual Fuel Oils
/
'New York Harbor 1% Sulfur Residual FuelOil swaps contract$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,vj^:@m=PF0*8X>
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskInterest Rate RiskDerivative Instruments (4)
EXHIBIT INDEXU }}$
Sprague Resources LP10Q
05/08/2019Commodity Price Risk
$
Three Months Ended March 31,(in thousands)~
~
"
Refined products contracts~
~
n
Natural gas contracts~
~
Total~
~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Derivative Instruments (4)
EXHIBIT INDEXU }<}$ }<}$
Sprague Resources LP10Q
05/08/2019Interest Rate Risk
Beginning
Ending
Notional AmountJanuary 2019January 2020~
OJanuary 2020January 2021~
O
January 2021
January 2022
~
O
January 2022January 2023~
BB$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,xl`P*=PF0*8X>
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate Risk
EXHIBIT INDEXU }I"}$
!
Sprague Resources LP10Q
05/08/2019Derivative Instruments
As of March 31, 2019
Fair ValueActive
Observable
UnobservableMeasurementMarkets Inputs
Inputs
Level 1
Level 2
Level 3(in thousands)Derivative assets:
Commodity fixed forwards~
f~
:~
.
$"Futures, swaps and options~
~
>~
Commodity derivatives~
j~
v~
Interest rate swaps~
~
Total derivative assets~
v~
v~
$Derivative liabilities:
Commodity fixed forwards~
J
$~
J
$"Futures, swaps and options~
~
~
Commodity derivatives~
F~
~
Z
Interest rate swaps~
jJ ~
jJ
Currency swaps~
~
$Total derivative liabilities~
~
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Cash FlowsDisaggregated Revenue
3 Leases3 Leases (1)3 Leases (2)3 Leases (3)!4 Accumulated Other Comprehensi
5 Inventories6 Credit Agreement8 Segment Reporting!9 Financial Instruments and Off!9 Financial Instruments and (1)Derivative InstrumentsDerivative Instruments (1)Derivative Instruments (2)Derivative Instruments (3)Interest Rate DerivativesContingent Consideration!Equity Awards Performancebased 12 Earnings Per UnitResults of Operations!Reconciliation to Adjusted Gros!Three Months Ended March 31 201!Three Months Ended March 31 (1)Capital ExpendituresCash Flows (1)Commodity Price RiskCommodity Price Risk (1)Interest Rate RiskDerivative Instruments (4)U }y
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Sprague Resources LP10Q
05/08/2019
EXHIBIT INDEX
Exhibit
DescriptionNo.2.1***4,Purchase and Sale Agreement, dated September
0
(18, 2017, by and among Sprague Operating2*Resources LLC, Coen Oil Company, LLC, Coen6.Markets, Inc., and The Thomaston Land Company,1)LLC (incorporated by reference to Exhibit4,2.1 of Sprague Resources LP's Current Report2*on Form 8K filed September 19, 2017 (FileNo. 00136137)) .@%Certificate of Limited Partnership of0(Sprague Energy Partners LP (incorporated80by reference to Exhibit 3.1 of Sprague Resources/'LP?s Registration Statement on Form S13+filed July 27, 2011 (File No. 333175826)). @/'Amendment to the Certificate of Limited.&Partnership of Sprague Energy Partners.&LP (Changing Name to Sprague Resources1)LP) (incorporated by reference to Exhibit2*3.2 of Sprague Resources LP?s RegistrationD7 l}qeAZmv'? 1 )Statement on Form S1 filed July 27, 2011!!!(File No. 333175826))."""#ffffff
@#3#+Amendment No. 1 to the Amended and Restated$$3$+Agreement of Limited Partnership of Sprague%%1%)Resources LP dated as of October 30, 2013&&1&)effective December 20, 2017 (incorporated''8'0by reference to Exhibit 3.1 of Sprague Resources((6(.LP's Current Report on Form 8K filed December))() 20, 2017 (File No. 00136137)) .***+333333@+/+'First Amended and Restated Agreement of,,0,(Limited Partnership of Sprague Resources0(LP (incorporated by reference to Exhibit..4.,3.1 of Sprague Resources LP?s Current Report//0/(on Form 8K filed November 5, 2013 (File000No. 00136137)).1112@2.2&Amended and Restated Limited Liability33.3&Company Agreement of Sprague Resources4444,GP LLC (incorporated by reference to Exhibit5545,3.2 of Sprague Resources LP?s Current Report66A69on Form 8K filed November 5, 2013 (File No. 00136137)).77
831.1*88%Certification pursuant to Section 30299991of the SarbanesOxley Act of 2002, Rule 13a14(a)::0:(/15d14(a), by Chief Executive Officer .;;
<31.2*<<%Certification pursuant to Section 302==9=1of the SarbanesOxley Act of 2002, Rule 13a14(a)>>/>'/15d14(a), by Chief Financial Officer.???DlxTcp,kO+A.u'@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@32.1**@3@+Certification pursuant to 18 U.S.C. SectionAA0A(1350, as adopted pursuant to Section 906BB3B+of the SarbanesOxley Act of 2002, by ChiefCCCExecutive Officer.DDDE32.2**E3E+Certification pursuant to 18 U.S.C. SectionFF0F(1350, as adopted pursuant to Section 906GG3G+of the SarbanesOxley Act of 2002, by ChiefHHHFinancial Officer.IIIJ101.INS*JJXBRL Instance DocumentKKKL101.SCH*L/L'XBRL Taxonomy Extension Schema DocumentMMMN101.CAL*N+N#XBRL Taxonomy Extension CalculationOOOP101.DEF*P*P"XBRL Taxonomy Extension DefinitionQQQR101.LAB*R.R&XBRL Taxonomy Extension Label LinkbaseSSST101.PRE*T,T$XBRL Taxonomy Extension PresentationUUU V*VVFiled herewith.
W**WW%Furnished herewith in accordance withXX*X"Item 601(b)(32) of Regulation SK.Y***Y0Y(Pursuant to Item 601(b)(2) of RegulationZZ4Z,SK, certain schedules to the Asset Purchase[[4[,Agreements have been omitted. The registrant\\/\'hereby agrees to furnish supplementally]]8]0to the SEC, upon its request, any or all omitted^^^
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