Sprague Resources (SRLP) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 04, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-36137
Entity Registrant Name	Sprague Resources LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-2637964
Entity Address, Address Line One	185 International Drive
Entity Address, City or Town	Portsmouth
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03801
City Area Code	800
Local Phone Number	225-1560
Title of 12(b) Security	Common Units Representing Limited Partner Interests
Trading Symbol	SRLP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,238,232
Entity Central Index Key	0001525287
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 6,449	$ 669
Accounts receivable, net	279,323	280,407
Inventories	239,144	439,820
Fair value of derivative assets	243,426	141,018
Other current assets	23,188	22,066
Total current assets	791,530	883,980
Fair value of derivative assets, long-term	55,447	33,111
Property, plant and equipment, net	317,818	323,630
Intangibles, net	30,974	34,007
Other assets, net	23,464	28,490
Goodwill	115,036	115,037
Total assets	1,334,269	1,418,255
Current liabilities:
Accounts payable	135,659	193,843
Accrued liabilities	142,815	76,667
Fair value of derivative liabilities	365,681	195,508
Due to General Partner	10,485	11,077
Current portion of working capital and acquisition facilities	647,941	497,578
Current portion of other obligations	8,642	8,594
Total current liabilities	1,311,223	983,267
Commitments and contingencies
Acquisition facility	0	377,400
Fair value of derivative liabilities, long-term	66,785	64,415
Other obligations, less current portion	28,481	31,664
Operating lease liabilities, less current portion	7,879	11,067
Due to General Partner	2,564	2,291
Deferred income taxes	12,497	13,733
Total liabilities	1,429,429	1,483,837
Unitholders’ equity:
Accumulated other comprehensive loss, net of tax	4,113	(16,497)
Total unitholders’ equity	(95,160)	(65,582)
Total liabilities and unitholders’ equity	1,334,269	1,418,255
Common Units Public
Unitholders’ equity:
Unitholders’ value	49,241	62,090
Common Units Affiliated
Unitholders’ equity:
Unitholders’ value	$ (148,514)	$ (111,175)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Jun. 30, 2022	Dec. 31, 2021
Common Units Public
Units outstanding ( in units)	6,689,383	6,685,698
Units issued (in units)	6,689,383	6,685,698
Common Units Affiliated
Units outstanding ( in units)	19,548,849	19,548,849
Units issued (in units)	19,548,849	19,548,849

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Net sales	$ 1,278,310	$ 657,672	$ 3,091,625	$ 1,693,805
Cost of products sold (exclusive of depreciation and amortization)	1,261,935	659,803	2,991,013	1,584,585
Operating expenses	22,092	19,148	45,327	38,379
Selling, general and administrative	21,941	16,719	50,661	41,958
Depreciation and amortization	8,049	8,258	16,175	16,741
Total operating costs and expenses	1,314,017	703,928	3,103,176	1,681,663
Other operating (loss) income	0	9,725	0	9,725
Operating (loss) income	(35,707)	(36,531)	(11,551)	21,867
Other (loss) income	0	0	(1)	2
Interest income	115	77	143	143
Interest expense	(9,242)	(8,587)	(19,814)	(17,402)
(Loss) income before income taxes	(44,834)	(45,041)	(31,223)	4,610
Income tax (provision) benefit	(461)	(562)	3,874	(1,433)
Net (loss) income	(45,295)	(45,603)	(27,349)	3,177
Limited partners' interest in net (loss) income	$ (45,295)	$ (45,603)	$ (27,349)	$ 3,177
Net (loss) income per limited partner unit:
Common - basic (in dollars per share)	$ (1.73)	$ (1.74)	$ (1.04)	$ 0.13
Common - diluted (in dollars per share)	$ (1.73)	$ (1.74)	$ (1.04)	$ 0.13
Units used to compute net income per limited partner unit:
Common - basic (in units)	26,236,612	26,226,255	26,235,585	25,066,494
Common - diluted (in units)	26,236,612	26,226,255	26,235,585	25,066,494
Distribution declared per unit (in dollars per share)	$ 0.4338	$ 0.6675	$ 0.8676	$ 1.3350

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (45,295)	$ (45,603)	$ (27,349)	$ 3,177
Unrealized gain on interest rate swaps
Net income (loss) arising in the period	6,446	(208)	18,268	1,598
Reclassification adjustment related to loss (gain) realized in income	1,044	1,459	2,543	2,815
Net change in unrealized gain on interest rate swaps	7,490	1,251	20,811	4,413
Tax effect	(58)	(10)	(162)	(34)
Other comprehensive income (loss), net of tax, interest rate swaps	7,432	1,241	20,649	4,379
Foreign currency translation adjustment	(72)	42	(39)	78
Other comprehensive income	7,360	1,283	20,610	4,457
Comprehensive (loss) income	$ (37,935)	$ (44,320)	$ (6,739)	$ 7,634

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Unitholders' Equity - USD ($) $ in Thousands	Total	Accumulated Other Comprehensive Loss	Common- Public	Common- Affiliated	Incentive Distribution Rights
Beginning balance at Dec. 31, 2020	$ 58,695	$ (25,982)	$ 154,238	$ (69,561)	$ 0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	3,177		3,289	(2,186)	2,074
Other comprehensive income	4,457	4,457
Unit-based compensation	(3,267)		(1,373)	(1,894)
Distributions paid in cash	(34,897)		(13,459)	(19,364)	(2,074)
Increase in affiliated units as a result of acquisition by Hartree Partners, LP	0		(30,921)
Common units issued in connection with annual bonus	3,475		1,461	2,014
Units withheld for employee tax obligations	(1,449)		(609)	(840)
Ending balance at Jun. 30, 2021	30,191	(21,525)	112,626	(60,910)	0
Beginning balance at Mar. 31, 2021	92,017	(22,808)	166,680	(51,855)	0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(45,603)		(16,346)	(29,257)	0
Other comprehensive income	1,283	1,283
Distributions paid in cash	(17,506)		(6,787)	(10,719)	0
Increase in affiliated units as a result of acquisition by Hartree Partners, LP			(30,921)	30,921
Ending balance at Jun. 30, 2021	30,191	(21,525)	112,626	(60,910)	0
Beginning balance at Dec. 31, 2021	(65,582)	(16,497)	62,090	(111,175)	0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(27,349)		(6,971)	(20,378)	0
Other comprehensive income	20,610	20,610
Unit-based compensation	(78)		(78)	0
Distributions paid in cash	(22,761)		(5,800)	(16,961)	0
Ending balance at Jun. 30, 2022	(95,160)	4,113	49,241	(148,514)	0
Beginning balance at Mar. 31, 2022	(45,766)	(3,247)	63,763	(106,282)	0
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(45,295)		(11,544)	(33,751)	0
Other comprehensive income	7,360	7,360
Unit-based compensation	(78)		(78)	0
Distributions paid in cash	(11,381)		(2,900)	(8,481)	0
Ending balance at Jun. 30, 2022	$ (95,160)	$ 4,113	$ 49,241	$ (148,514)	$ 0

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities
Net (loss) income	$ (27,349)	$ 3,177
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization (includes amortization of deferred debt issuance costs)	18,362	19,297
(Gain) loss on sale of assets	(83)	(9,840)
Provision for doubtful accounts	(20)	98
Non-cash unit-based compensation	(78)	208
Deferred income taxes	(1,399)	(246)
Changes in assets and liabilities:
Accounts receivable	1,105	34,716
Inventories	200,676	52,888
Other assets	2,574	54,266
Fair value of commodity derivative instruments	68,610	29,933
Due to General Partner and affiliates	(319)	(6,295)
Accounts payable, accrued liabilities and other	4,126	(19,050)
Net cash provided by operating activities	266,205	159,152
Cash flows from investing activities
Purchases of property, plant and equipment	(6,582)	(5,799)
Proceeds from sale of assets	218	11,125
Net cash (used in) provided by investing activities	(6,364)	5,326
Cash flows from financing activities
Net payments under credit agreements	(226,941)	(117,383)
Payments on finance leases and other obligations	(3,499)	(3,335)
Debt issuance costs	(857)	(4,430)
Distributions to unitholders	(22,761)	(34,897)
Units withheld for employee tax obligations	0	(1,450)
Net cash (used in) financing activities	(254,058)	(161,495)
Effect of exchange rate changes on cash balances held in foreign currencies	(3)	(4)
Net change in cash and cash equivalents	5,780	2,979
Cash and cash equivalents, beginning of period	669	3,771
Cash and cash equivalents, end of period	6,449	6,750
Supplemental disclosure of cash flow information
Cash paid for interest	18,065	14,476
Cash paid for taxes	3,583	6,165
Assets acquired under finance lease obligations	912	1,580
Cash paid for operating leases	$ 3,713	$ 3,068

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Partnership Businesses Sprague Resources LP (the “Partnership”) is a Delaware limited partnership formed on June 23, 2011 by Sprague Holdings and its General Partner (defined below) and engages in the purchase, storage, distribution and sale of refined products and natural gas, and provides storage and handling services for a broad range of materials. Unless the context otherwise requires, prior to May 28, 2021, references referring to “Sprague Resources,” and the “Partnership,” refer to Sprague Resources LP and its subsidiaries; references to the "General Partner" refer to Sprague Resources GP LLC; references to “Axel Johnson” or the "Sponsor" refer to Axel Johnson Inc. and its controlled affiliates, collectively, other than Sprague Resources, its subsidiaries and its General Partner; references to “Sprague Holdings” refer to Sprague Resources Holdings LLC, a wholly owned subsidiary of Axel Johnson and the owner of the General Partner. Unless the context otherwise requires, effective May 28, 2021, references referring to Sprague Resources, and the Partnership, refer to Sprague Resources LP and its subsidiaries; references to the General Partner refer to Sprague Resources GP LLC; references to “Hartree” or the "Sponsor" refer to Hartree Partners, LP, and its controlled affiliates, collectively, other than Sprague Resources, its subsidiaries and its General Partner; references to “Sprague Holdings” refer to Sprague HP Holdings LLC, a wholly owned subsidiary of Hartree and the owner of the General Partner. On April 20, 2021, the Partnership and Hartree Partners, LP ("Hartree") announced that Sprague Holdings entered into an agreement to sell to Sprague HP Holdings, LLC (a wholly-owned subsidiary of Hartree) the interest of Sprague Holdings in the General Partner, the incentive distribution rights and all of the common units representing limited partner interests that Sprague Holdings owned in the Partnership (the “Transaction”). The Transaction was completed and effective on May 28, 2021 and the aggregate purchase price was $290.0 million, consisting of approximately $265.0 million attributable to the purchase of 16,058,484 common units and approximately $25.0 million attributable to the general partner interest and incentive distribution rights. The Partnership elected not to apply push-down accounting in its consolidated financial statements upon the change in control on May 28, 2021. On June 2, 2022, in response to an unsolicited non-binding proposal received from Hartree on January 11, 2022 and following negotiations between Hartree and the conflicts committee of the board of directors of the Partnership, the Partnership, and its General Partner entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sprague Holdings and Sparrow HP Merger Sub, LLC (“Merger Sub”), pursuant to which Merger Sub will merge with and into the Partnership, with the Partnership surviving as a direct wholly owned subsidiary of the General Partner and Hartree (the “Merger”). Under the terms of the Merger Agreement, at the effective time of the Merger, each issued and outstanding common unit, other than those held by Sprague Holdings or its permitted transferees, will be converted into the right to receive $19.00 per common unit in cash without any interest thereon (the “Merger Consideration”). The common units and incentive distribution rights in the Partnership held by Sprague Holdings and its permitted transferees and the General Partner immediately prior to the effective time of the Merger shall be unaffected by the Merger and shall remain outstanding. The closing of the transactions contemplated by the Merger Agreement are expected to occur in the third quarter of 2022. The Partnership owns, operates and/or controls a network of refined products and materials handling terminals located in the Northeast United States and in Quebec, Canada. The Partnership also utilizes third-party terminals in the Northeast United States through which it sells or distributes refined products pursuant to rack, exchange and throughput agreements. The Partnership has four reportable segments: refined products, natural gas, materials handling and other operations. • The refined products segment purchases a variety of refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel and gasoline - primarily from refining companies, trading organizations and producers - and sells them to wholesale and commercial customers. • The natural gas segment purchases natural gas from natural gas producers and trading companies and sells and distributes natural gas to commercial and industrial customers. • The materials handling segment offloads, stores and prepares for delivery a variety of customer-owned products, including asphalt, clay slurry, salt, gypsum, crude oil, residual fuel oil, coal, petroleum coke, caustic soda, tallow, pulp, and heavy equipment. • The other operations segment primarily includes the marketing and distribution of coal and certain commercial trucking activities. See Note 2 - Revenue for a description of the Partnership's revenue activities within these business segments. As of June 30, 2022, the Sponsor, through its ownership of Sprague Holdings, owned 19,548,849 common units representing 74.5% of the limited partner interest in the Partnership. Sprague Holdings also owns the General Partner, which in turn owns a non-economic interest in the Partnership. Sprague Holdings currently holds incentive distribution rights ("IDRs") that entitle it to receive increasing percentages of the cash the Partnership distributes from distributable cash flow in excess of $0.7676 per unit per quarter, up to maximum of 50.0%. The maximum distribution of 50% does not include any distributions that Sprague Holdings may receive on any limited partner units that it owns. Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of the Partnership and its wholly-owned subsidiaries. Intercompany transactions between the Partnership and its subsidiaries have been eliminated. The accompanying unaudited Condensed Consolidated Financial Statements were prepared in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial information. As permitted under those rules, certain notes or other financial information that are normally required by U.S. generally accepted accounting principles (“GAAP”) to be included in annual financial statements have been condensed or omitted from these interim financial statements. These interim financial statements should be read in conjunction with the consolidated financial statements and related notes of the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC on March 4, 2022 (the “2021 Annual Report”). The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and the reported net sales and expenses in the income statement. Actual results could differ from those estimates. Among the estimates made by management are the fair value of derivative assets and liabilities, valuation of contingent consideration, valuation of reporting units within the goodwill impairment assessment, and if necessary long-lived asset impairments and environmental and legal obligations. The Condensed Consolidated Financial Statements included herein reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the Partnership’s consolidated financial position at June 30, 2022 and December 31, 2021, the consolidated results of operations for the three and six months ended June 30, 2022 and 2021, consolidated statement of changes in unitholders' equity for the three and six months ended June 30, 2022 and 2021, and the consolidated cash flows for the six months ended June 30, 2022 and 2021. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. Demand for some of the Partnership’s refined petroleum products, specifically heating oil and residual oil for space heating purposes, and to a lesser extent natural gas, are generally higher during the first and fourth quarters of the calendar year which may result in significant fluctuations in the Partnership’s quarterly operating results. Going Concern Assessment Pursuant to FASB ASC 205-40, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern , the Partnership is required to assess its ability to continue as a going concern for a period of one year from the date of the issuance of these condensed consolidated financial statements. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year from the financial statement issuance date. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented as of the date the financial statements are issued. When substantial doubt exists under this methodology, the Partnerships’s management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Partnerships’s ability to continue as a going concern. The mitigating effect of the Partnerships’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. The Partnership’s Credit Agreement matures on May 19, 2023 and has not been renewed as of the date of the issuance of these condensed consolidated financial statements. On June 2, 2022, the Partnership entered in a Merger Agreement with Sprague Holdings and Merger Sub, pursuant to which Sprague Holdings will acquire the common units that it does not already own. As the Merger Agreement is subject to customary closing conditions and because the pending Merger may affect how, or if, the Partnership elects to obtain a maturity extension, management has deferred the process to extend the maturity date of its Credit Agreement.. While we plan to renew or extend the terms of the Credit Agreement prior to the stated maturity date, until such time as we have executed an agreement to refinance or extend the maturity of the Credit Agreement, we cannot conclude that it is probable we will do so. Accordingly, the Partnership concluded that there is substantial doubt about its ability to continue as a going concern for a period of at least twelve months from the date of issuance of these financial statements. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the ordinary course of business. The financial statements do not include adjustments relating to the recoverability and classification of recorded asset amounts or other amounts and classifications of liabilities, other than obligations under the Credit Agreement classified as current, that might result from the outcome of the uncertainties described above. COVID-19 In 2022, a wide array of sectors continue to be affected by COVID-19, its variants and the related supply chain disruptions brought on by the pandemic, including but not limited to energy, transportation, manufacturing and commercial and retail businesses and global economic conditions continued to be volatile. With the easing of restrictions, health advancements and other ongoing measures to alleviate the pandemic in 2021 and through the second quarter of 2022, demand for refined products appears to have normalized. In order to continue to mitigate the effects of the pandemic, we continue to focus on the safety of employees and other stakeholders as well as a number of initiatives relating to cost reduction, liquidity and operating efficiencies. The Partnership makes estimates and assumptions that affect the reported amounts on these consolidated financial statements and accompanying notes as of the date of the financial statements. The Partnership assessed accounting estimates that require consideration of forecasted financial information, including, but not limited to, the allowance for credit losses, the carrying value of goodwill, intangible assets, and other long-lived assets. This assessment was conducted in the context of information reasonably available to the Partnership, as well as consideration of the future potential impacts of COVID-19, and its variants, on the Partnership’s business as of June 30, 2022. While market conditions for our products and services appear to have stabilized as compared to the onset of the pandemic, the pandemic remains fluid. The economic and operational landscape has been altered, and it is difficult to determine whether such changes are temporary or permanent, with challenges related to staffing, supply chain, and transportation globally. Accordingly, if the impact is more severe or longer in duration than the Partnership has assumed, such impact could potentially result in impairments and increases in credit allowances. As we strategize with regard to fiscal year 2022 and beyond, the Partnership continues to monitor the evolving impacts of COVID-19 and its variants closely and adapting our operations to changing demand patterns and the potential impact of the COVID-19 pandemic on future cash flows and access to adequate liquidity. Significant Accounting Policies The Partnership's significant accounting policies are described in Note 1 - Description of Business and Summary of Significant Accounting Policies in the Partnership’s audited consolidated financial statements included in the 2021 Annual Report and are the same as are used in preparing these unaudited interim Condensed Consolidated Financial Statements . Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848) which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform, if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Partnership adopted this guidance on a prospective basis with regard to the Partnership's interest rate swaps. The guidance did not have a material impact on our financial position, results of operations or disclosures at transition, but we will continue to evaluate its impact on contracts modified on or before December 31, 2022. In May 2021, the FASB issued ASU No. 2021-05, Leases (Topic 842), Lessors - Certain Leases with Variable Lease Payments . This ASU addresses an issue related to a lessor's accounting for certain leases with variable lease payments. The amendments in this Update affect lessors with lease contracts that (1) have variable lease payments that do not depend on a reference index or a rate and (2) would have resulted in the recognition of a selling loss at lease commencement if classified as a sales-type lease or a direct financing lease. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. The adoption of this guidance did not have a material impact to the Partnership's Condensed Consolidated Financial Statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregated Revenue In general, the Partnership's business segmentation is aligned according to the nature and economic characteristics of its products and customer relationships which provides meaningful disaggregation of each business segment's results of operations. The Partnership operates its businesses in the Northeast and Mid-Atlantic United States and Eastern Canada. The refined products segment purchases a variety of refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel and gasoline (primarily from refining companies, trading organizations and producers), and sells them to wholesale and commercial customers. Refined products revenue-producing activities are direct sales to customers, including throughput transactions. Revenue is recognized when the product is delivered. Revenue is not recognized on exchange agreements, which are entered into primarily to acquire refined products by taking delivery of products closer to the Partnership’s end markets. Rather, net differentials or fees for exchange agreements are recorded within cost of products sold (exclusive of depreciation and amortization). The natural gas segment purchases natural gas from natural gas producers and trading companies and sells and distributes natural gas to commercial and industrial customers. Natural gas revenue-producing activities are sales to customers at various points on natural gas pipelines or at local distribution companies (i.e., utilities). Natural gas sales not billed by month-end are accrued based upon gas volumes delivered. The materials handling segment offloads, stores and prepares for delivery a variety of customer-owned products. A majority of the materials handling segment revenue is generated under leasing arrangements with revenue recorded over the lease term generally on a straight-line basis. Contingent rentals are recorded as revenue only when billable under the arrangement. For materials handling contracts that are not leases, the Partnership recognizes revenue either at a point in time after services are performed or over a period of time if the services are performed in a continuous fashion over the period of the contract as these methods represent a faithful depiction of the transfer of goods and services. The other operations segment primarily includes the marketing and distribution of coal and certain commercial trucking activities. Revenue from other operations is recognized when the product is delivered or the services are rendered. Further disaggregation of net sales by business segment and geographic destination is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net sales: Refined products Distillates $ 800,013 $ 410,551 $ 2,172,098 $ 1,163,478 Gasoline 314,309 124,550 501,880 219,596 Heavy fuel oil and asphalt 74,891 54,041 182,065 122,268 Total refined products $ 1,189,213 $ 589,142 $ 2,856,043 $ 1,505,342 Natural gas 70,510 51,360 196,354 153,935 Materials handling 12,871 12,725 25,964 24,771 Other operations 5,716 4,445 13,264 9,757 Net sales $ 1,278,310 $ 657,672 $ 3,091,625 $ 1,693,805 Net sales by country: United States $ 1,178,954 $ 584,726 $ 2,891,332 $ 1,554,617 Canada 99,356 72,946 200,293 139,188 Net sales $ 1,278,310 $ 657,672 $ 3,091,625 $ 1,693,805 Contract Balances Contract liabilities primarily relate to advances or deposits received from the Partnership's customers before revenue is recognized. These amounts are included in accrued liabilities and amounted to $9.3 million and $9.8 million as of June 30, 2022 and December 31, 2021, respectively. A substantial portion of the contract liabilities as of December 31, 2021 remains outstanding as of June 30, 2022 as they are primarily deposits. The Partnership does not have any material contract assets as of June 30, 2022 or December 31, 2021.

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Leases    From a lessor perspective, the Partnership has entered into various throughput and materials handling arrangements with customers. These arrangements are accounted for as operating leases as determined by the use terms and rights outlined in the underlying agreements. The throughput contracts are agreements with refined products wholesalers that use the Partnership’s terminal facilities for a fee. The materials handling contracts are arrangements involving rentals of dedicated tanks, pads, land and small office locations for the purposes of storage, parking and other related uses. Income related to the operating leases with the Partnership as the lessor, as described above, totaled $9.3 million and $9.8 million for the three months ended June 30, 2022 and 2021, respectively, and $18.7 million and $20.3 million for the six months ended June 30, 2022 and 2021, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss, Net of Tax	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Loss, Net of Tax	Accumulated Other Comprehensive Loss, Net of Tax Amounts included in accumulated other comprehensive loss, net of tax, consisted of the following: June 30, December 31, 2021 Fair value of interest rate swaps, net of tax $ 15,694 $ (4,954) Cumulative foreign currency translation adjustment (11,581) (11,543) Accumulated other comprehensive loss, net of tax $ 4,113 $ (16,497)

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories June 30, December 31, Petroleum and related products $ 230,705 $ 426,323 Coal 2,156 6,870 Natural gas 6,283 6,627 Inventories $ 239,144 $ 439,820

Credit Agreement

Credit Agreement	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement June 30, December 31, 2021 Working capital facilities $ 290,541 $ 497,578 Acquisition facility 357,400 377,400 Total credit agreement 647,941 874,978 Less: current portion of working capital facilities (647,941) (497,578) Long-term portion $ — $ 377,400 On April 13, 2022, Sprague Operating Resources LLC (the "U.S. Borrower") and Kildair Service ULC (the "Canadian Borrower" and, together with the U.S. Borrower, the "Borrowers"), wholly owned subsidiaries of the Partnership, entered into a second amendment (the "Second Amendment") to the second amended and restated credit agreement, dated as of May 19, 2020 (the "Original Credit Agreement," the Original Credit Agreement as amended by the first amendment on May 11, 2021 and the Second Amendment, (the "Credit Agreement"). Upon the effective date, the Second Amendment increased the committed U.S. dollar revolving working capital facility from $465.0 million to $535.9 million, the uncommitted U.S. dollar revolving working capital facility from $200.0 million to $255.0 million, and the multicurrency revolving working capital facility from $85.0 million to $96.6 million. In addition, the Second Amendment included transition changes from LIBOR to the Secured Overnight Financing Rate ("SOFR") plus a SOFR spread adjustment ("Term SOFR") and extended the permitted expiration of letters of credit from six months to one year after the applicable facility termination date. The Second Amendment was accounted for as a modification of a syndicated loan arrangement with partial extinguishment to the extent there was a decrease in the borrowing capacity on a creditor by creditor basis. The Credit Agreement matures on May 19, 2023. The Partnership and certain of its subsidiaries (the "Subsidiary Guarantors") are guarantors of the obligations under the Credit Agreement. Obligations under the Credit Agreement are secured by substantially all of the assets of the Partnership, the Borrowers and the Subsidiary Guarantors (collectively, the "Loan Parties"). At June 30, 2022, the revolving credit facilities under the Credit Agreement contained, among other items, the following: • A committed U.S. dollar revolving working capital facility of up to $535.9 million, subject to borrowing base limits, to be used for working capital loans and letters of credit; • An uncommitted U.S. dollar revolving working capital facility of up to $255.0 million, subject to borrowing base limits and the sole discretion of the lenders, to be used for working capital loans and letters of credit; • A multicurrency revolving working capital facility of up to $96.6 million, subject to borrowing base limits, to be used for working capital loans and letters of credit; • A revolving acquisition facility of up to $450.0 million, subject to covenants, to be used for loans and letters of credit to fund capital expenditures and acquisitions and other general corporate purposes; and • Subject to certain conditions, including the receipt of additional commitments from lenders, the ability to increase the U.S. dollar revolving working capital facility to up to $1.2 billion and the multicurrency revolving working capital facility to up to $320.0 million. Additionally, subject to certain conditions, the revolving acquisition facility may be increased to up to $750.0 million. At June 30, 2022, indebtedness under the Credit Agreement bore interest, at the Borrowers’ option, at a rate per annum equal to either (i) the Eurocurrency Rate (which is the Term SOFR Rate for loans denominated in U.S. dollars and Term SOFR for loans denominated in Canadian dollars, in each case adjusted for certain regulatory costs, and in each case with a floor of 0.25%) for interest periods of one, two (solely with respect to Eurocurrency Rate loans denominated in Canadian dollars), three or six (solely with respect to Eurocurrency Rate loans denominated in U.S. dollars) months plus a specified margin or (ii) an alternate rate plus a specified margin. At June 30, 2022, loans denominated in U.S. dollars, the alternate rate was the Base Rate which is the highest of (a) the U.S. Prime Rate as in effect from time to time, (b) the greater of the Federal Funds Effective Rate and the Overnight Bank Funding Rate as in effect from time to time plus 0.50% and (c) the one-month Eurocurrency Rate for U.S. dollars as in effect from time to time plus 1.00%. For loans denominated in Canadian dollars, the alternate rate was the Prime Rate which is the higher of (a) the Canadian Prime Rate as in effect from time to time and (b) the one-month Eurocurrency Rate for U.S. dollars as in effect from time to time plus 1.00%. At June 30, 2022, the specified margins for the revolving working capital facilities varied based on the utilization of the working capital facilities as a whole, measured on a quarterly basis. The specified margin for (x) the committed U.S. dollar revolving working capital facility ranged from 1.00% to 1.50% for loans bearing interest at the Base Rate and from 2.00% to 2.50% for loans bearing interest at the Eurocurrency Rate, (y) the uncommitted U.S. dollar revolving working capital facility ranged from 0.75% to 1.25% for loans bearing interest at the Base Rate and 1.75% to 2.25% for loans that bore interest at the Eurocurrency Rate and (z) the multicurrency revolving working capital facility ranged from 1.00% to 1.50% for loans that bore interest at the Base Rate and 2.00% to 2.50% for loans that bore interest at the Eurocurrency Rate. At June 30, 2022, the specified margin for the revolving acquisition facility varies based on the consolidated total leverage of the Loan Parties. The specified margin for the revolving acquisition facility range from 1.25% to 2.25% for loans bearing interest at the Base Rate and from 2.25% to 3.25% for loans bearing interest at the Eurocurrency Rate. In addition, the Borrowers will incur a commitment fee on the unused portion of (x) the committed U.S. dollar revolving working capital facility and multicurrency revolving working capital facility that ranged from 0.375% to 0.500% per annum and (y) the revolving acquisition facility at a rate that ranged from 0.375% to 0.500% per annum. Overdue amounts bore interest at the applicable rates described above plus an additional margin of 2%. The working capital facilities are subject to borrowing base reporting and as of June 30, 2022 and December 31, 2021, had a borrowing base of $591.3 million and $750.0 million, respectively. As of June 30, 2022 and December 31, 2021, outstanding letters of credit related to the working capital facilities were $76.9 million and $80.6 million, respectively. As of June 30, 2022 and December 31, 2021, outstanding letters of credit related to the acquisition facility were $19.6 million and $18.8 million, respectively. As of June 30, 2022, excess availability under the working capital facilities was $223.9 million and excess availability under the acquisition facility was $73.0 million. The weighted average interest rate was 4.3% at June 30, 2022 and 3.2% at December 31, 2021. No amounts are due under the Credit Agreement until the maturity date. However, the current portion at June 30, 2022 represents both the amounts of the working capital facility and the acquisition facility. The Credit Agreement contains various covenants and restrictive provisions that, among other things, prohibit the Partnership from making distributions to unitholders if any event of default occurs or would result from the distribution or if the Loan Parties would not be in pro forma compliance with the financial covenants after giving effect to the distribution. In addition, the Credit Agreement contains various covenants that are usual and customary for a financing of this type, size and purpose, including, but not limited to, covenants that require the Loan Parties to maintain: a minimum consolidated EBITDA-to fixed-charge ratio, a minimum consolidated net working capital amount and a maximum consolidated total leverage-to-EBITDA ratio. The Credit Agreement also limits the Loan Parties ability to incur debt, grant liens, make certain investments or acquisitions, enter into affiliate transactions and dispose of assets. The Partnership was in compliance with the covenants under the Credit Agreement at June 30, 2022.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe General Partner charges the Partnership for the reimbursements of employee costs and related employee benefits and other overhead costs supporting the Partnership’s operations which amounted to $23.0 million and $20.2 million for the three months ended June 30, 2022 and 2021, and $54.0 million and $46.5 million for the six months ended June 30, 2022 and 2021, respectively. Through the General Partner, the Partnership participates in pension plans sponsored by Axel Johnson, in which the General Partner has indemnified the Partnership of any future payments to maintain these plans, as well as an other post-retirement benefits plan, which was previously sponsored by Axel Johnson, but is now sponsored by the General Partner beginning in June 2021. At June 30, 2022 and December 31, 2021, total amounts due to the General Partner with respect to these benefits and overhead costs were $13.0 million and $13.4 million, respectively. During the three and six months ended June 30, 2022, the Partnership made oil and natural gas product purchases from Hartree totaling $49.7 million and $58.8 million, respectively, and generated sales of natural gas products to Hartree of $2.1 million and $2.8 million, respectively. There were no amounts recorded for tank fee and storage revenue for the three and six months ended June 30, 2022 as the lease agreement expired in 2021 and was not renewed. As of June 30, 2022, the Partnership is party to four credit guarantee arrangements with third party beneficiaries, totaling $73.0 million in credit support, for which Hartree acts as the guarantor. During the three and six months ended June 30, 2021, the Partnership recorded tank use and storage fee revenue of $0.2 million and $0.7 million, respectively, from lease agreements entered into with Hartree, a related party. In addition, the Partnership made net inventory purchases from Hartree totaling $29.8 million and $97.8 million for the three and six months ended June 30, 2021, respectively. As of June 30, 2021, the Partnership had a receivable of $0.5 million from Hartree related to certain fees paid on their behalf.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Partnership has four reportable segments that comprise the structure used by the chief operating decision makers (CEO and CFO) to make key operating decisions and assess performance. When establishing a reporting segment, the Partnership aggregates individual operating units that are in the same line of business and have similar economic characteristics. These reportable segments are refined products, natural gas, materials handling and other operations. The Partnership's refined products segment purchases a variety of refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel and gasoline (primarily from refining companies, trading organizations and producers), and sells them to its customers. The Partnership has wholesale customers who resell the refined products they purchase from the Partnership and commercial customers who consume the refined products they purchase. The Partnership’s wholesale customers consist of home heating oil retailers and diesel fuel and gasoline resellers. The Partnership’s commercial customers include federal and state agencies, municipalities, regional transit authorities, drill sites, large industrial companies, real estate management companies, hospitals, educational institutions and asphalt paving companies. The refined products reportable segment consists of two operating segments. The Partnership's natural gas segment purchases natural gas from natural gas producers and trading companies and sells and manages distribution of natural gas to commercial and industrial customer locations across 13 states in the Northeast and Mid-Atlantic United States and Canada. The natural gas reportable segment consists of one operating segment. The Partnership's materials handling segment offloads, stores, and prepares for delivery a variety of customer-owned products, including asphalt, clay slurry, salt, gypsum, crude oil, residual fuel oil, coal, petroleum coke, caustic soda, tallow, pulp and heavy equipment. These services are generally conducted under multi-year agreements as either fee-based activities or as leasing arrangements when the right to use an identified asset (such as storage tanks or storage locations) has been conveyed in the agreement. The materials handling reportable segment consists of two operating segments. The Partnership's other operations segment primarily consists of the purchase, sale and distribution of coal, and commercial trucking activities unrelated to its refined products segment. Other operations are not reported separately as they represent less than 10% of consolidated net sales and adjusted gross margin. The other operations reporting segment consists of two operating segments. The Partnership evaluates segment performance based on adjusted gross margin, a non-GAAP measure, which is net sales less cost of products sold (exclusive of depreciation and amortization) increased by unrealized hedging losses and decreased by unrealized hedging gains, in each case with respect to refined products and natural gas inventory, and natural gas transportation contracts. Based on the way the business is managed, it is not reasonably possible for the Partnership to allocate the components of operating costs and expenses among the operating segments. There were no significant intersegment sales for any of the years presented below. The Partnership had no single customer that accounted for more than 10% of total net sales for the three and six months ended June 30, 2022 and 2021, respectively. The Partnership’s foreign sales, primarily sales of refined products and natural gas to its customers in Canada, were $99.4 million and $72.9 million for the three months ended June 30, 2022 and 2021, respectively, and $200.3 million and $139.2 million for the six months ended June 30, 2022 and 2021, respectively. Summarized financial information for the Partnership's reportable segments is presented in the table below: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net sales: Refined products $ 1,189,213 $ 589,142 $ 2,856,043 $ 1,505,342 Natural gas 70,510 51,360 196,354 153,935 Materials handling 12,871 12,725 25,964 24,771 Other operations 5,716 4,445 13,264 9,757 Net sales $ 1,278,310 $ 657,672 $ 3,091,625 $ 1,693,805 Adjusted gross margin (1): Refined products $ 29,868 $ 27,165 $ 83,994 $ 78,198 Natural gas 5,755 (2,725) 77,106 38,364 Materials handling 12,799 12,694 25,929 24,770 Other operations 2,628 1,696 5,550 3,709 Adjusted gross margin 51,050 38,830 192,579 145,041 Reconciliation to operating income (2): Add/(deduct): Change in unrealized gain (loss) on inventory (3) 21,998 (5,369) 6,629 20,888 Change in unrealized value on natural gas transportation contracts (4) (56,673) (35,592) (98,596) (56,709) Operating costs and expenses not allocated to operating segments: Operating expenses (22,092) (19,148) (45,327) (38,379) Selling, general and administrative (21,941) (16,719) (50,661) (41,958) Depreciation and amortization (8,049) (8,258) (16,175) (16,741) Other operating (loss) income — 9,725 — 9,725 Operating (loss) income (35,707) (36,531) (11,551) 21,867 Other income — — (1) 2 Interest income 115 77 143 143 Interest expense (9,242) (8,587) (19,814) (17,402) Income tax (provision) benefit (461) (562) 3,874 (1,433) Net (loss) income $ (45,295) $ (45,603) $ (27,349) $ 3,177 (1) The Partnership trades, purchases, stores and sells energy commodities that experience market value fluctuations. To manage the Partnership’s underlying performance, including its physical and derivative positions, management utilizes adjusted gross margin, which is a non-GAAP financial measure. Adjusted gross margin is also used by external users of the Partnership’s consolidated financial statements to assess the Partnership’s economic results of operations and its commodity market value reporting to lenders. In determining adjusted gross margin, the Partnership adjusts its segment results for the impact of the changes in unrealized gains and losses with regard to refined products and natural gas inventory, and natural gas transportation contracts, which are not marked to market for the purpose of recording unrealized gains or losses in net income. These adjustments align the unrealized hedging gains and losses to the period in which the revenue from the sale of inventory, prepaid fixed forwards and the utilization of transportation contracts relating to those hedges is realized in net income. Adjusted gross margin has no impact on reported volumes or net sales. (2) Reconciliation of adjusted gross margin to operating income, the most directly comparable GAAP measure. (3) Inventory is valued at the lower of cost or net realizable value. The adjustment related to change in the unrealized gain on inventory which is not included in net income, represents the estimated difference between inventory valued at the lower of cost or net realizable value as compared to market values. The fair value of the derivatives the Partnership uses to economically hedge its inventory declines or appreciates in value as the value of the underlying inventory appreciates or declines, which creates unrealized hedging losses (gains) with respect to the derivatives that are included in net income. (4) Represents the Partnership’s estimate of the change in fair value of the natural gas transportation contracts which are not recorded in net income until the transportation is utilized in the future (i.e., when natural gas is delivered to the customer), as these contracts are executory contracts that do not qualify as derivatives. As the fair value of the natural gas transportation contracts decline or appreciate, the offsetting physical or financial derivative will also appreciate or decline creating unmatched unrealized hedging (gains) losses in net income. Segment Assets Due to the commingled nature and uses of the Partnership’s fixed assets, the Partnership does not track its fixed assets between its refined products and materials handling operating segments or its other operations. There are no significant fixed assets attributable to the natural gas reportable segment.

Financial Instruments and Off-B

Financial Instruments and Off-Balance Sheet Risk	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments and Off-Balance Sheet Risk	Financial Instruments and Off-Balance Sheet Risk As of June 30, 2022 and December 31, 2021, the carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximated fair value because of the short maturity of these instruments. As of June 30, 2022 and December 31, 2021, the carrying value of the Partnership’s margin deposits with brokers approximates fair value and consists of initial margin with futures transaction brokers, along with variation margin, which is paid or received on a daily basis, and is included in other current assets or other current liabilities. As of June 30, 2022 and December 31, 2021, the carrying value of the Partnership’s debt approximated fair value due to the variable interest nature of these instruments. The following table presents financial assets and financial liabilities of the Partnership measured at fair value on a recurring basis: As of June 30, 2022 Fair Value Quoted Significant Significant Derivative assets: Commodity fixed forwards $ 21,203 $ — $ 21,203 $ — Futures, swaps and options 261,852 261,852 — — Commodity derivatives 283,055 261,852 21,203 — Interest rate swaps 15,818 — 15,818 — Total derivative assets $ 298,873 $ 261,852 $ 37,021 $ — Derivative liabilities: Commodity fixed forwards 274,141 — 274,141 — Futures, swaps and options 158,325 158,260 65 — Commodity derivatives 432,466 158,260 274,206 — Interest rate swaps — — — — Total derivative liabilities $ 432,466 $ 158,260 $ 274,206 $ — As of December 31, 2021 Fair Value Quoted Significant Significant Derivative assets: Commodity fixed forwards $ 25,793 $ — $ 25,793 $ — Futures, swaps and options 148,034 148,029 5 — Commodity derivatives 173,827 148,029 25,798 — Interest rate swaps 302 — 302 — Total derivative assets $ 174,129 $ 148,029 $ 26,100 $ — Derivative liabilities: Commodity fixed forwards 176,602 — 176,602 — Futures, swaps and options 78,026 77,948 78 — Commodity derivatives 254,628 77,948 176,680 — Interest rate swaps 5,295 — 5,295 — Total derivative liabilities $ 259,923 $ 77,948 $ 181,975 $ — Commodity Derivative Instruments The Partnership utilizes derivative instruments consisting of futures contracts, forward contracts, swaps, options and other derivatives individually or in combination, to mitigate its exposure to fluctuations in prices of refined petroleum products and natural gas. The use of these derivative instruments within the Partnership's risk management policy may, on a limited basis, generate gains or losses from changes in market prices. The Partnership enters into futures and over-the-counter (“OTC”) transactions either on regulated exchanges or in the OTC market. Futures contracts are exchange-traded contractual commitments to either receive or deliver a standard amount or value of a commodity at a specified future date and price, with some futures contracts based on cash settlement rather than a delivery requirement. Futures exchanges typically require margin deposits as security. OTC contracts, which may or may not require margin deposits as security, involve parties that have agreed either to exchange cash payments or deliver or receive the underlying commodity at a specified future date and price. The Partnership posts initial margin with futures transaction brokers, along with variation margin, which is paid or received on a daily basis, and is included in other current assets or other current liabilities. In addition, the Partnership may either pay or receive margin based upon exposure with counterparties. Payments made by the Partnership are included in other current assets, whereas payments received by the Partnership are included in accrued liabilities. Substantially of all of the Partnership’s commodity derivative contracts outstanding as of June 30, 2022 will settle prior to December 31, 2023. The Partnership enters into some master netting arrangements to mitigate credit risk with significant counterparties. Master netting arrangements are standardized contracts that govern all specified transactions with the same counterparty and allow the Partnership to terminate all contracts upon occurrence of certain events, such as a counterparty’s default. The Partnership has elected not to offset the fair value of its derivatives, even where these arrangements provide the right to do so. The Partnership’s derivative instruments are recorded at fair value, with changes in fair value recognized in net income each period. The Partnership’s fair value measurements are determined using the market approach and includes non-performance risk and time value of money considerations. Counterparty credit is considered for receivable balances, and the Partnership’s credit is considered for payable balances. In accordance with fair value standards under GAAP, there was a $4.0 million gain and $12.8 million gain recorded during the three and six months ended June 30, 2022, respectively, associated with the quarterly fair value measurement of the credit risk associated with our refined product and natural gas derivative assets and liabilities. There were no such amounts recorded in 2021. The Partnership determines fair value based on a hierarchy for the inputs used to measure the fair value of financial assets and liabilities based on the source of the input, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using significant unobservable inputs (Level 3). Multiple inputs may be used to measure fair value; however, the level of fair value is based on the lowest significant input level within this fair value hierarchy. Details on the methods and assumptions used to determine the fair values are as follows: Fair value measurements based on Level 1 inputs: Measurements that are most observable and are based on quoted prices of identical instruments obtained from the principal markets in which they are traded. Closing prices are both readily available and representative of fair value. Market transactions occur with sufficient frequency and volume to assure liquidity. Fair value measurements based on Level 2 inputs: Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2. Measurements based on Level 2 inputs include OTC derivative instruments that are priced on an exchange traded curve, but have contractual terms that are not identical to exchange traded contracts. The Partnership utilizes fair value measurements based on Level 2 inputs for its fixed forward contracts, over-the-counter commodity price swaps, interest rate swaps and forward currency contracts. Fair value measurements based on Level 3 inputs: Measurements that are least observable are estimated from significant unobservable inputs determined from sources with little or no market activity for comparable contracts or for positions with longer durations. The Partnership does not offset fair value amounts recognized for the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) against the fair value of derivative instruments executed with the same counterparty under the same master netting arrangement. The Partnership had no right to reclaim or obligation to return cash collateral as of June 30, 2022 and December 31, 2021. The Partnership enters into derivative contracts with counterparties, some of which are subject to master netting arrangements, which allow net settlements under certain conditions. The Partnership presents derivatives at gross fair values in the Condensed Consolidated Balance Sheets. The maximum amount of loss due to credit risk that the Partnership would incur if its counterparties failed completely to perform according to the terms of the contracts, based on the net fair value of these financial instruments, exclusive of cash collateral, was $137.8 million at June 30, 2022. Information related to these offsetting arrangements is set forth below: As of June 30, 2022 Gross Amount Not Offset in Gross Amount of Assets/Liabilities Financial Cash Net Amount Commodity derivative assets $ 283,055 $ (161,036) $ (86,281) $ 35,738 Interest rate swap derivative assets 15,818 — — 15,818 Fair value of derivative assets $ 298,873 $ (161,036) $ (86,281) $ 51,556 Commodity derivative liabilities (432,466) 161,036 — (271,430) Fair value of derivative liabilities $ (432,466) $ 161,036 $ — $ (271,430) As of December 31, 2021 Gross Amount Not Offset in Gross Amount of Assets/Liabilities Financial Cash Net Amount Commodity derivative assets $ 173,827 $ (77,927) $ (22,623) $ 73,277 Interest rate swap derivative assets 302 — — 302 Fair value of derivative assets $ 174,129 $ (77,927) $ (22,623) $ 73,579 Commodity derivative liabilities $ (254,628) $ 77,927 $ 1,313 $ (175,388) Interest rate swap derivative liabilities (5,295) — — (5,295) Fair value of derivative liabilities $ (259,923) $ 77,927 $ 1,313 $ (180,683) The following table presents total realized and unrealized gains (losses) on derivative instruments utilized for commodity risk management purposes included in cost of products sold (exclusive of depreciation and amortization): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Refined products contracts $ (37,995) $ (19,503) $ (171,054) $ (39,277) Natural gas contracts 4,112 (34,447) 172,873 (33,138) Total $ (33,883) $ (53,950) $ 1,819 $ (72,415) There were no discretionary trading activities for the three and six months ended June 30, 2022 and 2021. The following table presents gross volume of commodity derivative instruments outstanding for the periods indicated: As of June 30, 2022 As of December 31, 2021 Refined Products Natural Gas Refined Products Natural Gas Long contracts 4,327 145,722 10,034 167,709 Short contracts (4,983) (88,320) (14,483) (98,152) Interest Rate Derivatives We enter into interest rate swaps to manage exposures in changing interest rates. We swap the variable SOFR interest rate payable under our Credit Agreement for fixed LIBOR or equivalent SOFR interest rates. These interest rate swaps meet the criteria to receive cash flow hedge accounting treatment. Counterparties to the Partnership’s interest rate swaps are large multinational banks and the Partnership does not believe there is a material risk of counterparty non-performance. The Partnership expects to continue to utilize interest rate swaps to hedge cash flow risk and to manage its exposure to SOFR interest rates for the foreseeable future. The Partnership's interest rate swap agreements outstanding as of June 30, 2022 were as follows: Beginning Ending Notional Amount January 2022 December 2022 425,000 * January 2023 March 2023 475,000 * April 2023 December 2023 450,000 * January 2024 December 2024 500,000 ** January 2025 December 2026 450,000 ** January 2027 January 2027 300,000 * During the months of May through October, one interest rate swap agreement decreases by $100 million . This decrease is not reflected in the notional amount in the table above. ** During the months of May through October, two interest rate swap agreements decrease by $100 million each. These decreases are not reflected in the notional amount in the table above. The Partnership records unrealized gains and losses on its interest rate swaps as a component of accumulated other comprehensive loss, net of tax, which is reclassified to earnings as interest expense when the payments are made. As of June 30, 2022, the amount of unrealized gains, net of tax, expected to be reclassified to earnings during the following twelve-month period was $5.2 million.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal, Environmental and Other Proceedings On July 26, 2022, a purported unitholder of the Partnership filed a lawsuit, entitled Mark Giddings vs. Sprague Resources LP, et al. , in the United States District Court for the Southern District of New York. The plaintiff alleges that the preliminary information statement filed by the Partnership with the SEC on July 7, 2022, contains materially incomplete and misleading information and omits material information with respect to the Merger, rendering the preliminary information statement materially incomplete and misleading in violation of Sections 14(a) and 20(a) of the Exchange Act. The plaintiff seeks, among other things, (i) injunctive relief enjoining the Merger, (ii) in the event the Merger is consummated, the rescission and setting aside of the Merger or an award of rescissory damages to the plaintiff (iii) an injunction directing the Partnership, the General Partner and our board of directors to disseminate an amended information statement that is not materially incomplete or misleading, and (iv) costs and attorneys’ fees. The Partnership believes that the claims asserted in this lawsuit are without merit and intends to defend itself against all claims. Additional lawsuits arising out of or relating to the Merger Agreement and the transactions contemplated thereby may be filed in the future. The Partnership is subject to a tax on sales made in Quebec from product it imports into the province. During an audit by the Quebec Energy Board (QEB) of the annual filings, the Partnership initiated legal action seeking a declaration to limit the applicability of the tax to direct imports, as well as the periods subject to review. Since filing this legal action in June 2018, the Partnership has been assessed $9.0 million of tax, including interest and penalties, for the period of 2007 to 2021. Similarly, since the filing, the Partnership has been assessed $10.3 million, including a 15% penalty and interest, from the Ministry of the Environment, and the Fight Against Climate Change (known as MELCC) under separate regulation that was in effect for the period from 2007 through 2014. The Partnership is disputing this assessment on the same basis as set out in the QEB legal action described above. The Partnership has accrued an amount which it believes to be a reasonable estimate of the low end of a range of loss related to these matters and such amount is not material to the consolidated financial statements. On September 14, 2020, a purported class action complaint was filed against Sprague Operating Resources, LLC ("SOR"), one of the Partnership’s subsidiaries, in the U.S. District Court for the District of Rhode Island. The complaint, since amended, alleges causes of action for private nuisance, public nuisance, and negligence, each based on emission impacts to nearby occupants from the Partnership’s oil and natural gas facility located in Providence, Rhode Island. The complaint also alleges that the amount in controversy exceeds $5.0 million. At this early stage in the litigation, the Partnership cannot predict whether the plaintiff will succeed in getting the court to certify a class. Based upon the information currently available to it, the Partnership believes that the complaint is without merit and intends to vigorously defend against it. In May 2021, the New York City Department of Citywide Administrative Services (DCAS) initiated legal action against SOR, alleging that the SOR failed to pay the city $8.5 million in biodiesel tax credits for product purchased for the period of 2017 through 2019. SOR is disputing the claim and the Partnership has accrued an amount which it believes to be a reasonable estimate of the low end of a range of loss related to this matter and such amount is not material to the consolidated financial statements. The Partnership is involved in other various lawsuits, other proceedings and environmental matters, all of which arose in the normal course of business. The Partnership believes, based upon its examination of currently available information, its experience to date, and advice from legal counsel, that the individual and aggregate liabilities resulting from the resolution of these contingent matters will not have a material adverse impact on the Partnership’s consolidated results of operations, financial position or cash flows.

Equity and Equity-Based Compens

Equity and Equity-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity and Equity-Based Compensation	Equity and Equity-Based Compensation Equity Awards - Performance-based Phantom Units Effective March 5, 2021, the board of directors used its discretion to terminate all phantom unit awards granted in 2018, 2019 and 2020. In consideration for this termination, the board of directors paid a higher 2020 cash bonus, issued 172,702 vested common units to each of the Partnership's Named Executive Officers and certain other employees and issued new long-term incentive awards payable in units or cash which vest over a three-year service period. The 2020 cash bonus amounts were expensed during the year ended December 31, 2020 and accrued for as of December 31, 2020. The Partnership accounted for the cancellation of the previously outstanding phantom unit awards and the issuance of the vested units and long term incentive awards as a modification which resulted in immaterial incremental compensation expense. Unit-based compensation is included in selling, general and administrative expenses. Unit-based compensation expense for the six months ended June 30, 2022 was $0.1 million as compared to $0.2 million for the six months ended June 30, 2021. The Partnership didn't have any unrecognized compensation cost related to performance-based phantom units as of June 30, 2022. Equity - Changes in Partnership's Units The following table provides information with respect to changes in the Partnership’s units: Common Units Public Sprague Holdings Balance as of December 31, 2020 9,995,069 12,951,236 Units issued in connection with employee bonus 172,702 — Director vested awards 8,292 — Units issued in conjunction with IDR Reset Election — 3,107,248 Increase in affiliated units as a result of acquisition by Hartree Partners, LP (2,115,365) 2,115,365 Increase in affiliated units as a result of change in beneficial ownership of Hartree Bulk Storage LLC (1,375,000) 1,375,000 Balance as of December 31, 2021 6,685,698 19,548,849 Units issued in connection with employee awards 3,685 — Balance as of June 30, 2022 6,689,383 19,548,849 IDR Reset Election On February 11, 2021, Sprague Holdings provided notice to the Partnership that Sprague Holdings had made the IDR Reset Election. Pursuant to the IDR Reset Election, Sprague Holdings relinquished the right to receive incentive distribution

Earnings Per Unit

Earnings Per Unit	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Unit	Earnings Per UnitThe Partnership has identified the IDRs as participating securities and uses the two-class method when calculating the net income per unit applicable to limited partners. Earnings per unit applicable to limited partners is computed by dividing limited partners’ interest in net income, after deducting any incentive distributions, by the weighted-average number of outstanding common units. The Partnership’s net income is allocated to the limited partners in accordance with their respective ownership percentages, after giving effect to priority income allocations for incentive distributions, which are declared and paid following the close of each quarter. Earnings in excess of distributions are allocated to the limited partners based on their respective ownership interests. Payments made to the Partnership’s unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of earnings per unit. The weighted average common units outstanding used to compute net income per common unit for the three months ended June 30, 2022 and 2021 were 26,236,612 and 26,226,255, respectively, and 26,235,585 and 25,066,494 for the six months ended June 30, 2022 and 2021, respectively. There was no dilutive effect on units for June 30, 2022 or June 30, 2021.

Partnership Distributions

Partnership Distributions	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Partnership Distributions	Partnership Distributions The Partnership's partnership agreement sets forth the calculation to be used to determine the amount and priority of cash distributions that the common unitholders will receive. Cash distributions for the periods indicated were as follows: Quarter Ended Payment Date Per Unit Common IDR Total December 31, 2021 February 9, 2022 $0.4338 $ 11,380 $ — $ 11,380 March 31, 2022 May 11, 2022 $0.4338 $ 11,380 $ — $ 11,380 In addition, on July 25, 2022, the Partnership declared a cash distribution for the three months ended June 30, 2022, of $0.4338 per unit, totaling $11.4 million. Such distribution will be paid on August 10, 2022, to unitholders of record on August 5, 2022.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 26, 2022, a purported unitholder of the Partnership filed a lawsuit, entitled Mark Giddings vs. Sprague Resources LP, et al. , in the United States District Court for the Southern District of New York. The plaintiff alleges that the preliminary information statement filed by the Partnership with the SEC on July 7, 2022, contains materially incomplete and misleading information and omits material information with respect to the Merger, rendering the preliminary information statement materially incomplete and misleading in violation of Sections 14(a) and 20(a) of the Exchange Act. The plaintiff seeks, among other things, (i) injunctive relief enjoining the Merger, (ii) in the event the Merger is consummated, the rescission and setting aside of the Merger or an award of rescissory damages to the plaintiff (iii) an injunction directing the Partnership, the General Partner and our board of directors to disseminate an amended information statement that is not materially incomplete or misleading, and (iv) costs and attorneys’ fees. The Partnership believes that the claims asserted in this lawsuit are without merit and intends to defend itself against all claims. Additional lawsuits arising out of or relating to the Merger Agreement and the transactions contemplated thereby may be filed in the future.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Consolidation	The Condensed Consolidated Financial Statements include the accounts of the Partnership and its wholly-owned subsidiaries. Intercompany transactions between the Partnership and its subsidiaries have been eliminated.
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements were prepared in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim financial information. As permitted under those rules, certain notes or other financial information that are normally required by U.S. generally accepted accounting principles (“GAAP”) to be included in annual financial statements have been condensed or omitted from these interim financial statements.
Use of Estimates	The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and the reported net sales and expenses in the income statement. Actual results could differ from those estimates. Among the estimates made by management are the fair value of derivative assets and liabilities, valuation of contingent consideration, valuation of reporting units within the goodwill impairment assessment, and if necessary long-lived asset impairments and environmental and legal obligations.
Recent Accounting Pronouncements	In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform (Topic 848) which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform, if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. These amendments are effective immediately and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. The Partnership adopted this guidance on a prospective basis with regard to the Partnership's interest rate swaps. The guidance did not have a material impact on our financial position, results of operations or disclosures at transition, but we will continue to evaluate its impact on contracts modified on or before December 31, 2022. In May 2021, the FASB issued ASU No. 2021-05, Leases (Topic 842), Lessors - Certain Leases with Variable Lease Payments . This ASU addresses an issue related to a lessor's accounting for certain leases with variable lease payments. The amendments in this Update affect lessors with lease contracts that (1) have variable lease payments that do not depend on a reference index or a rate and (2) would have resulted in the recognition of a selling loss at lease commencement if classified as a sales-type lease or a direct financing lease. For public business entities, the amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. The adoption of this guidance did not have a material impact to the Partnership's Condensed Consolidated Financial Statements.
Commodity Derivative Instruments	Commodity Derivative Instruments The Partnership utilizes derivative instruments consisting of futures contracts, forward contracts, swaps, options and other derivatives individually or in combination, to mitigate its exposure to fluctuations in prices of refined petroleum products and natural gas. The use of these derivative instruments within the Partnership's risk management policy may, on a limited basis, generate gains or losses from changes in market prices. The Partnership enters into futures and over-the-counter (“OTC”) transactions either on regulated exchanges or in the OTC market. Futures contracts are exchange-traded contractual commitments to either receive or deliver a standard amount or value of a commodity at a specified future date and price, with some futures contracts based on cash settlement rather than a delivery requirement. Futures exchanges typically require margin deposits as security. OTC contracts, which may or may not require margin deposits as security, involve parties that have agreed either to exchange cash payments or deliver or receive the underlying commodity at a specified future date and price. The Partnership posts initial margin with futures transaction brokers, along with variation margin, which is paid or received on a daily basis, and is included in other current assets or other current liabilities. In addition, the Partnership may either pay or receive margin based upon exposure with counterparties. Payments made by the Partnership are included in other current assets, whereas payments received by the Partnership are included in accrued liabilities. Substantially of all of the Partnership’s commodity derivative contracts outstanding as of June 30, 2022 will settle prior to December 31, 2023. The Partnership enters into some master netting arrangements to mitigate credit risk with significant counterparties. Master netting arrangements are standardized contracts that govern all specified transactions with the same counterparty and allow the Partnership to terminate all contracts upon occurrence of certain events, such as a counterparty’s default. The Partnership has elected not to offset the fair value of its derivatives, even where these arrangements provide the right to do so. The Partnership’s derivative instruments are recorded at fair value, with changes in fair value recognized in net income each period. The Partnership’s fair value measurements are determined using the market approach and includes non-performance risk and time value of money considerations. Counterparty credit is considered for receivable balances, and the Partnership’s credit is considered for payable balances. In accordance with fair value standards under GAAP, there was a $4.0 million gain and $12.8 million gain recorded during the three and six months ended June 30, 2022, respectively, associated with the quarterly fair value measurement of the credit risk associated with our refined product and natural gas derivative assets and liabilities. There were no such amounts recorded in 2021. The Partnership determines fair value based on a hierarchy for the inputs used to measure the fair value of financial assets and liabilities based on the source of the input, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using significant unobservable inputs (Level 3). Multiple inputs may be used to measure fair value; however, the level of fair value is based on the lowest significant input level within this fair value hierarchy. Details on the methods and assumptions used to determine the fair values are as follows: Fair value measurements based on Level 1 inputs: Measurements that are most observable and are based on quoted prices of identical instruments obtained from the principal markets in which they are traded. Closing prices are both readily available and representative of fair value. Market transactions occur with sufficient frequency and volume to assure liquidity. Fair value measurements based on Level 2 inputs: Measurements derived indirectly from observable inputs or from quoted prices from markets that are less liquid are considered Level 2. Measurements based on Level 2 inputs include OTC derivative instruments that are priced on an exchange traded curve, but have contractual terms that are not identical to exchange traded contracts. The Partnership utilizes fair value measurements based on Level 2 inputs for its fixed forward contracts, over-the-counter commodity price swaps, interest rate swaps and forward currency contracts. Fair value measurements based on Level 3 inputs: Measurements that are least observable are estimated from significant unobservable inputs determined from sources with little or no market activity for comparable contracts or for positions with longer durations.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Further disaggregation of net sales by business segment and geographic destination is as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net sales: Refined products Distillates $ 800,013 $ 410,551 $ 2,172,098 $ 1,163,478 Gasoline 314,309 124,550 501,880 219,596 Heavy fuel oil and asphalt 74,891 54,041 182,065 122,268 Total refined products $ 1,189,213 $ 589,142 $ 2,856,043 $ 1,505,342 Natural gas 70,510 51,360 196,354 153,935 Materials handling 12,871 12,725 25,964 24,771 Other operations 5,716 4,445 13,264 9,757 Net sales $ 1,278,310 $ 657,672 $ 3,091,625 $ 1,693,805 Net sales by country: United States $ 1,178,954 $ 584,726 $ 2,891,332 $ 1,554,617 Canada 99,356 72,946 200,293 139,188 Net sales $ 1,278,310 $ 657,672 $ 3,091,625 $ 1,693,805

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss, Net of Tax (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss, Net of Tax	Amounts included in accumulated other comprehensive loss, net of tax, consisted of the following: June 30, December 31, 2021 Fair value of interest rate swaps, net of tax $ 15,694 $ (4,954) Cumulative foreign currency translation adjustment (11,581) (11,543) Accumulated other comprehensive loss, net of tax $ 4,113 $ (16,497)

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	June 30, December 31, Petroleum and related products $ 230,705 $ 426,323 Coal 2,156 6,870 Natural gas 6,283 6,627 Inventories $ 239,144 $ 439,820

Credit Agreement (Tables)

Credit Agreement (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	June 30, December 31, 2021 Working capital facilities $ 290,541 $ 497,578 Acquisition facility 357,400 377,400 Total credit agreement 647,941 874,978 Less: current portion of working capital facilities (647,941) (497,578) Long-term portion $ — $ 377,400

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Summary of Financial Information for Partnership's Reportable Segments	Summarized financial information for the Partnership's reportable segments is presented in the table below: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net sales: Refined products $ 1,189,213 $ 589,142 $ 2,856,043 $ 1,505,342 Natural gas 70,510 51,360 196,354 153,935 Materials handling 12,871 12,725 25,964 24,771 Other operations 5,716 4,445 13,264 9,757 Net sales $ 1,278,310 $ 657,672 $ 3,091,625 $ 1,693,805 Adjusted gross margin (1): Refined products $ 29,868 $ 27,165 $ 83,994 $ 78,198 Natural gas 5,755 (2,725) 77,106 38,364 Materials handling 12,799 12,694 25,929 24,770 Other operations 2,628 1,696 5,550 3,709 Adjusted gross margin 51,050 38,830 192,579 145,041 Reconciliation to operating income (2): Add/(deduct): Change in unrealized gain (loss) on inventory (3) 21,998 (5,369) 6,629 20,888 Change in unrealized value on natural gas transportation contracts (4) (56,673) (35,592) (98,596) (56,709) Operating costs and expenses not allocated to operating segments: Operating expenses (22,092) (19,148) (45,327) (38,379) Selling, general and administrative (21,941) (16,719) (50,661) (41,958) Depreciation and amortization (8,049) (8,258) (16,175) (16,741) Other operating (loss) income — 9,725 — 9,725 Operating (loss) income (35,707) (36,531) (11,551) 21,867 Other income — — (1) 2 Interest income 115 77 143 143 Interest expense (9,242) (8,587) (19,814) (17,402) Income tax (provision) benefit (461) (562) 3,874 (1,433) Net (loss) income $ (45,295) $ (45,603) $ (27,349) $ 3,177 (1) The Partnership trades, purchases, stores and sells energy commodities that experience market value fluctuations. To manage the Partnership’s underlying performance, including its physical and derivative positions, management utilizes adjusted gross margin, which is a non-GAAP financial measure. Adjusted gross margin is also used by external users of the Partnership’s consolidated financial statements to assess the Partnership’s economic results of operations and its commodity market value reporting to lenders. In determining adjusted gross margin, the Partnership adjusts its segment results for the impact of the changes in unrealized gains and losses with regard to refined products and natural gas inventory, and natural gas transportation contracts, which are not marked to market for the purpose of recording unrealized gains or losses in net income. These adjustments align the unrealized hedging gains and losses to the period in which the revenue from the sale of inventory, prepaid fixed forwards and the utilization of transportation contracts relating to those hedges is realized in net income. Adjusted gross margin has no impact on reported volumes or net sales. (2) Reconciliation of adjusted gross margin to operating income, the most directly comparable GAAP measure. (3) Inventory is valued at the lower of cost or net realizable value. The adjustment related to change in the unrealized gain on inventory which is not included in net income, represents the estimated difference between inventory valued at the lower of cost or net realizable value as compared to market values. The fair value of the derivatives the Partnership uses to economically hedge its inventory declines or appreciates in value as the value of the underlying inventory appreciates or declines, which creates unrealized hedging losses (gains) with respect to the derivatives that are included in net income. (4) Represents the Partnership’s estimate of the change in fair value of the natural gas transportation contracts which are not recorded in net income until the transportation is utilized in the future (i.e., when natural gas is delivered to the customer), as these contracts are executory contracts that do not qualify as derivatives. As the fair value of the natural gas transportation contracts decline or appreciate, the offsetting physical or financial derivative will also appreciate or decline creating unmatched unrealized hedging (gains) losses in net income.

Financial Instruments and Off_2

Financial Instruments and Off-Balance Sheet Risk (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Financial Assets and Financial Liabilities of Partnership Measured at Fair Value on Recurring Basis	The following table presents financial assets and financial liabilities of the Partnership measured at fair value on a recurring basis: As of June 30, 2022 Fair Value Quoted Significant Significant Derivative assets: Commodity fixed forwards $ 21,203 $ — $ 21,203 $ — Futures, swaps and options 261,852 261,852 — — Commodity derivatives 283,055 261,852 21,203 — Interest rate swaps 15,818 — 15,818 — Total derivative assets $ 298,873 $ 261,852 $ 37,021 $ — Derivative liabilities: Commodity fixed forwards 274,141 — 274,141 — Futures, swaps and options 158,325 158,260 65 — Commodity derivatives 432,466 158,260 274,206 — Interest rate swaps — — — — Total derivative liabilities $ 432,466 $ 158,260 $ 274,206 $ — As of December 31, 2021 Fair Value Quoted Significant Significant Derivative assets: Commodity fixed forwards $ 25,793 $ — $ 25,793 $ — Futures, swaps and options 148,034 148,029 5 — Commodity derivatives 173,827 148,029 25,798 — Interest rate swaps 302 — 302 — Total derivative assets $ 174,129 $ 148,029 $ 26,100 $ — Derivative liabilities: Commodity fixed forwards 176,602 — 176,602 — Futures, swaps and options 78,026 77,948 78 — Commodity derivatives 254,628 77,948 176,680 — Interest rate swaps 5,295 — 5,295 — Total derivative liabilities $ 259,923 $ 77,948 $ 181,975 $ —
Summary of Offsetting Assets	Information related to these offsetting arrangements is set forth below: As of June 30, 2022 Gross Amount Not Offset in Gross Amount of Assets/Liabilities Financial Cash Net Amount Commodity derivative assets $ 283,055 $ (161,036) $ (86,281) $ 35,738 Interest rate swap derivative assets 15,818 — — 15,818 Fair value of derivative assets $ 298,873 $ (161,036) $ (86,281) $ 51,556 Commodity derivative liabilities (432,466) 161,036 — (271,430) Fair value of derivative liabilities $ (432,466) $ 161,036 $ — $ (271,430) As of December 31, 2021 Gross Amount Not Offset in Gross Amount of Assets/Liabilities Financial Cash Net Amount Commodity derivative assets $ 173,827 $ (77,927) $ (22,623) $ 73,277 Interest rate swap derivative assets 302 — — 302 Fair value of derivative assets $ 174,129 $ (77,927) $ (22,623) $ 73,579 Commodity derivative liabilities $ (254,628) $ 77,927 $ 1,313 $ (175,388) Interest rate swap derivative liabilities (5,295) — — (5,295) Fair value of derivative liabilities $ (259,923) $ 77,927 $ 1,313 $ (180,683)
Summary of Offsetting Liabilities	Information related to these offsetting arrangements is set forth below: As of June 30, 2022 Gross Amount Not Offset in Gross Amount of Assets/Liabilities Financial Cash Net Amount Commodity derivative assets $ 283,055 $ (161,036) $ (86,281) $ 35,738 Interest rate swap derivative assets 15,818 — — 15,818 Fair value of derivative assets $ 298,873 $ (161,036) $ (86,281) $ 51,556 Commodity derivative liabilities (432,466) 161,036 — (271,430) Fair value of derivative liabilities $ (432,466) $ 161,036 $ — $ (271,430) As of December 31, 2021 Gross Amount Not Offset in Gross Amount of Assets/Liabilities Financial Cash Net Amount Commodity derivative assets $ 173,827 $ (77,927) $ (22,623) $ 73,277 Interest rate swap derivative assets 302 — — 302 Fair value of derivative assets $ 174,129 $ (77,927) $ (22,623) $ 73,579 Commodity derivative liabilities $ (254,628) $ 77,927 $ 1,313 $ (175,388) Interest rate swap derivative liabilities (5,295) — — (5,295) Fair value of derivative liabilities $ (259,923) $ 77,927 $ 1,313 $ (180,683)
Summary of Realized and Unrealized Gains (Losses) on Derivative Instruments for Commodity Risk Management	The following table presents total realized and unrealized gains (losses) on derivative instruments utilized for commodity risk management purposes included in cost of products sold (exclusive of depreciation and amortization): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Refined products contracts $ (37,995) $ (19,503) $ (171,054) $ (39,277) Natural gas contracts 4,112 (34,447) 172,873 (33,138) Total $ (33,883) $ (53,950) $ 1,819 $ (72,415)
Schedule of Gross Volume of Commodity Derivative Instruments Outstanding	The following table presents gross volume of commodity derivative instruments outstanding for the periods indicated: As of June 30, 2022 As of December 31, 2021 Refined Products Natural Gas Refined Products Natural Gas Long contracts 4,327 145,722 10,034 167,709 Short contracts (4,983) (88,320) (14,483) (98,152)
Schedule of Notional Amounts	The Partnership's interest rate swap agreements outstanding as of June 30, 2022 were as follows: Beginning Ending Notional Amount January 2022 December 2022 425,000 * January 2023 March 2023 475,000 * April 2023 December 2023 450,000 * January 2024 December 2024 500,000 ** January 2025 December 2026 450,000 ** January 2027 January 2027 300,000 * During the months of May through October, one interest rate swap agreement decreases by $100 million . This decrease is not reflected in the notional amount in the table above. ** During the months of May through October, two interest rate swap agreements decrease by $100 million each. These decreases are not reflected in the notional amount in the table above.

Equity and Equity-Based Compe_2

Equity and Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Equity - Changes in Partnership Units	The following table provides information with respect to changes in the Partnership’s units: Common Units Public Sprague Holdings Balance as of December 31, 2020 9,995,069 12,951,236 Units issued in connection with employee bonus 172,702 — Director vested awards 8,292 — Units issued in conjunction with IDR Reset Election — 3,107,248 Increase in affiliated units as a result of acquisition by Hartree Partners, LP (2,115,365) 2,115,365 Increase in affiliated units as a result of change in beneficial ownership of Hartree Bulk Storage LLC (1,375,000) 1,375,000 Balance as of December 31, 2021 6,685,698 19,548,849 Units issued in connection with employee awards 3,685 — Balance as of June 30, 2022 6,689,383 19,548,849

Partnership Distributions (Tabl

Partnership Distributions (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Incentive Distribution Amounts	Cash distributions for the periods indicated were as follows: Quarter Ended Payment Date Per Unit Common IDR Total December 31, 2021 February 9, 2022 $0.4338 $ 11,380 $ — $ 11,380 March 31, 2022 May 11, 2022 $0.4338 $ 11,380 $ — $ 11,380

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022 segment $ / shares shares	Jun. 02, 2022 $ / shares	Dec. 31, 2021 shares	Apr. 20, 2021 USD ($) shares
Nature Of Business And Basis Of Presentation [Line Items]
Number of reporting reportable segments | segment	4
Common- Affiliated
Nature Of Business And Basis Of Presentation [Line Items]
Units outstanding ( in units)	19,548,849		19,548,849
Common- Public
Nature Of Business And Basis Of Presentation [Line Items]
Units outstanding ( in units)	6,689,383		6,685,698
Hartree Partners, LP | Sprague Resources LP
Nature Of Business And Basis Of Presentation [Line Items]
Price per share (USD per share) | $ / shares		$ 19
Hartree Partners, LP | Sprague Resources LP
Nature Of Business And Basis Of Presentation [Line Items]
Limited partnership, ownership interest	74.50%
Hartree Partners, LP | Common- Affiliated | Sprague Resources LP
Nature Of Business And Basis Of Presentation [Line Items]
Units outstanding ( in units)	19,548,849
Sprague Resources Holdings Llc
Nature Of Business And Basis Of Presentation [Line Items]
Percentages incentive distribution rights			50%
Distributions from distributable cash flow (in dollars per share) | $ / shares	$ 0.7676
Sprague Holdings | Discontinued Operations, Disposed of by Sale | Sprague Resources LP
Nature Of Business And Basis Of Presentation [Line Items]
Aggregate purchase price | $				$ 290
Sprague Holdings | Other Ownership Interest | Discontinued Operations, Disposed of by Sale | Sprague Resources LP
Nature Of Business And Basis Of Presentation [Line Items]
Aggregate purchase price | $				$ 265
Common units purchased (in shares)				16,058,484
Sprague Holdings | General Partner | Discontinued Operations, Disposed of by Sale | Sprague Resources LP
Nature Of Business And Basis Of Presentation [Line Items]
Aggregate purchase price | $				$ 25

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales	$ 1,278,310	$ 657,672	$ 3,091,625	$ 1,693,805
Contract liabilities	9,300		9,300		$ 9,800
United States
Disaggregation of Revenue [Line Items]
Net sales	1,178,954	584,726	2,891,332	1,554,617
Canada
Disaggregation of Revenue [Line Items]
Net sales	99,356	72,946	200,293	139,188
Refined products
Disaggregation of Revenue [Line Items]
Net sales	1,189,213	589,142	2,856,043	1,505,342
Refined products | Distillates
Disaggregation of Revenue [Line Items]
Net sales	800,013	410,551	2,172,098	1,163,478
Refined products | Gasoline
Disaggregation of Revenue [Line Items]
Net sales	314,309	124,550	501,880	219,596
Refined products | Heavy fuel oil and asphalt
Disaggregation of Revenue [Line Items]
Net sales	74,891	54,041	182,065	122,268
Natural gas
Disaggregation of Revenue [Line Items]
Net sales	70,510	51,360	196,354	153,935
Materials handling
Disaggregation of Revenue [Line Items]
Net sales	12,871	12,725	25,964	24,771
Other operations
Disaggregation of Revenue [Line Items]
Net sales	$ 5,716	$ 4,445	$ 13,264	$ 9,757

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Lease income	$ 9.3	$ 9.8	$ 18.7	$ 20.3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Partners' Capital	$ (95,160)	$ (45,766)	$ (65,582)	$ 30,191	$ 92,017	$ 58,695
Accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Partners' Capital	4,113	$ (3,247)	(16,497)	$ (21,525)	$ (22,808)	$ (25,982)
Fair value of interest rate swaps, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Partners' Capital	15,694		(4,954)
Cumulative foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Partners' Capital	$ (11,581)		$ (11,543)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventories	$ 239,144	$ 439,820
Petroleum and related products
Inventory [Line Items]
Inventories	230,705	426,323
Coal
Inventory [Line Items]
Inventories	2,156	6,870
Natural gas
Inventory [Line Items]
Inventories	$ 6,283	$ 6,627

Credit Agreement - Schedule of

Credit Agreement - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Credit agreement	$ 647,941	$ 874,978
Less: current portion of working capital facilities	(647,941)	(497,578)
Long-term portion	0	377,400
Working capital facilities
Line of Credit Facility [Line Items]
Credit agreement	290,541	497,578
Acquisition facility
Line of Credit Facility [Line Items]
Credit agreement	$ 357,400	$ 377,400

Credit Agreement - Narrative (D

Credit Agreement - Narrative (Details) - Credit Agreement - USD ($)		6 Months Ended
	May 11, 2021	Jun. 30, 2022	Apr. 13, 2022	Apr. 12, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Interest Rate margin on over due balances		2%
Debt instruments, weighted average interest rate		4.30%			3.20%
Debt payments due before maturity	$ 0
Base Rate
Debt Instrument [Line Items]
Debt instruments, interest rate		0.25%
Working capital and multicurrency facility | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		0.375%
Working capital and multicurrency facility | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		0.50%
Working capital facilities
Debt Instrument [Line Items]
Debt instruments, borrowing capacity		$ 535,900,000	$ 535,900,000	$ 465,000,000
Debt instrument, potential increase in maximum borrowing capacity		1,200,000,000
Borrowing base under Credit Agreement		591,300,000			$ 750,000,000
Letters of credit outstanding		76,900,000			80,600,000
Excess availability under Credit Agreement		$ 223,900,000
Working capital facilities | Federal Funds Rate | U.S. dollar
Debt Instrument [Line Items]
Debt instruments, interest rate		0.50%
Working capital facilities | Eurocurrency Rate | U.S. dollar
Debt Instrument [Line Items]
Debt instruments, interest rate		1%
Working capital facilities | Eurocurrency Rate | Canadian dollars
Debt Instrument [Line Items]
Debt instruments, interest rate		1%
Working capital facilities | Kildair
Debt Instrument [Line Items]
Debt instruments, borrowing capacity		$ 96,600,000
Working capital facilities | Variable Rate Component One | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		1%
Working capital facilities | Variable Rate Component One | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		1.50%
Working capital facilities | Variable Rate Component One | Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		2%
Working capital facilities | Variable Rate Component One | Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		2.50%
Working capital facilities | Variable Rate Component Two | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		0.75%
Working capital facilities | Variable Rate Component Two | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		1.25%
Working capital facilities | Variable Rate Component Two | Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		1.75%
Working capital facilities | Variable Rate Component Two | Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		2.25%
Multicurrency working capital
Debt Instrument [Line Items]
Debt instruments, borrowing capacity			96,600,000	85,000,000
Debt instrument, potential increase in maximum borrowing capacity		$ 320,000,000
Multicurrency working capital | Variable Rate Component Two | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		1%
Multicurrency working capital | Variable Rate Component Two | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		1.50%
Multicurrency working capital | Variable Rate Component Two | Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		2%
Multicurrency working capital | Variable Rate Component Two | Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		2.50%
Uncommitted Working Capital Facility
Debt Instrument [Line Items]
Debt instruments, borrowing capacity		$ 255,000,000	$ 255,000,000	$ 200,000,000
Acquisition facility
Debt Instrument [Line Items]
Debt instruments, borrowing capacity		450,000,000
Debt instrument, potential increase in maximum borrowing capacity		750,000,000
Letters of credit outstanding		19,600,000			$ 18,800,000
Excess availability under Credit Agreement		$ 73,000,000
Acquisition facility | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		0.375%
Acquisition facility | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		0.50%
Acquisition facility | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		1.25%
Acquisition facility | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		2.25%
Acquisition facility | Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Debt instruments, interest rate		2.25%
Acquisition facility | Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Debt instruments, interest rate		3.25%

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) creditArrangement	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) creditArrangement	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Hartree Partners, LP
Related Party Transaction [Line Items]
Due from related parties		$ 0.5		$ 0.5
General Partner
Related Party Transaction [Line Items]
Reimbursements of employee costs and related benefits	$ 23	20.2	$ 54	46.5
Amounts due to General Partner	13		13		$ 13.4
Affiliated Entity | Hartree Partners, LP | Tane Use And Storage Fee
Related Party Transaction [Line Items]
Revenue from related parties			0
Affiliated Entity | Hartree Partners, LP | Oil And Natural Gas
Related Party Transaction [Line Items]
Revenue from related parties	2.1	0.2	2.8	0.7
Purchases	$ 49.7	$ 29.8	$ 58.8	$ 97.8
Number of credit arrangements | creditArrangement	4		4
Credit arrangement payment	$ 73		$ 73

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) state	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment state	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of reporting reportable segments | segment			4
Revenue from contract with customer, excluding assessed tax	$ 1,278,310	$ 657,672	$ 3,091,625	$ 1,693,805
Significant fixed assets attributable to reporting segment	317,818		317,818		$ 323,630
Goodwill	115,036		115,036		$ 115,037
Canada
Segment Reporting Information [Line Items]
Revenue from contract with customer, excluding assessed tax	99,356	72,946	$ 200,293	139,188
Refined products segment
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Revenue from contract with customer, excluding assessed tax	1,189,213	589,142	$ 2,856,043	1,505,342
Goodwill	$ 71,400		$ 71,400
Natural gas segment
Segment Reporting Information [Line Items]
Number of operating segments | segment			1
Number of states in which entity operates | state	13		13
Revenue from contract with customer, excluding assessed tax	$ 70,510	51,360	$ 196,354	153,935
Significant fixed assets attributable to reporting segment	0		0
Goodwill	35,500		$ 35,500
Materials handling segment
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Revenue from contract with customer, excluding assessed tax	12,871	12,725	$ 25,964	24,771
Goodwill	6,900		$ 6,900
Other operations segment
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Revenue from contract with customer, excluding assessed tax	5,716	$ 4,445	$ 13,264	$ 9,757
Goodwill	$ 1,200		$ 1,200

Segment Reporting - Summary of

Segment Reporting - Summary of Financial Information for Partnership's Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net sales [Abstract]
Revenue from contract with customer, excluding assessed tax	$ 1,278,310	$ 657,672	$ 3,091,625	$ 1,693,805
Adjusted gross margin:
Adjusted gross margin	51,050	38,830	192,579	145,041
Reconciliation to operating income (loss):
Change in unrealized gain on inventory	21,998	(5,369)	6,629	20,888
Change in unrealized value on natural gas transportation contracts	(56,673)	(35,592)	(98,596)	(56,709)
Operating costs and expenses not allocated to operating segments:
Operating expenses	(22,092)	(19,148)	(45,327)	(38,379)
Selling, general and administrative	(21,941)	(16,719)	(50,661)	(41,958)
Depreciation and amortization	(8,049)	(8,258)	(16,175)	(16,741)
Other operating (loss) income	0	9,725	0	9,725
Operating (loss) income	(35,707)	(36,531)	(11,551)	21,867
Other (loss) income	0	0	(1)	2
Interest income	115	77	143	143
Interest expense	(9,242)	(8,587)	(19,814)	(17,402)
Income tax (provision) benefit	(461)	(562)	3,874	(1,433)
Net (loss) income	(45,295)	(45,603)	(27,349)	3,177
Refined products
Net sales [Abstract]
Revenue from contract with customer, excluding assessed tax	1,189,213	589,142	2,856,043	1,505,342
Adjusted gross margin:
Adjusted gross margin	29,868	27,165	83,994	78,198
Natural gas
Net sales [Abstract]
Revenue from contract with customer, excluding assessed tax	70,510	51,360	196,354	153,935
Adjusted gross margin:
Adjusted gross margin	5,755	(2,725)	77,106	38,364
Materials handling
Net sales [Abstract]
Revenue from contract with customer, excluding assessed tax	12,871	12,725	25,964	24,771
Adjusted gross margin:
Adjusted gross margin	12,799	12,694	25,929	24,770
Other operations
Net sales [Abstract]
Revenue from contract with customer, excluding assessed tax	5,716	4,445	13,264	9,757
Adjusted gross margin:
Adjusted gross margin	$ 2,628	$ 1,696	$ 5,550	$ 3,709

Financial Instruments and Off_3

Financial Instruments and Off-Balance Sheet Risk - Summary of Financial Assets and Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Quoted Prices in Active Markets Level 1
Derivative assets:
Financial assets	$ 261,852	$ 148,029
Derivative liabilities:
Financial liabilities	158,260	77,948
Quoted Prices in Active Markets Level 1 | Commodity fixed forwards
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Quoted Prices in Active Markets Level 1 | Futures, swaps and options
Derivative assets:
Financial assets	261,852	148,029
Derivative liabilities:
Financial liabilities	158,260	77,948
Quoted Prices in Active Markets Level 1 | Commodity derivatives
Derivative assets:
Financial assets	261,852	148,029
Derivative liabilities:
Financial liabilities	158,260	77,948
Quoted Prices in Active Markets Level 1 | Interest rate swaps
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Significant Other Observable Inputs Level 2
Derivative assets:
Financial assets	37,021	26,100
Derivative liabilities:
Financial liabilities	274,206	181,975
Significant Other Observable Inputs Level 2 | Commodity fixed forwards
Derivative assets:
Financial assets	21,203	25,793
Derivative liabilities:
Financial liabilities	274,141	176,602
Significant Other Observable Inputs Level 2 | Futures, swaps and options
Derivative assets:
Financial assets	0	5
Derivative liabilities:
Financial liabilities	65	78
Significant Other Observable Inputs Level 2 | Commodity derivatives
Derivative assets:
Financial assets	21,203	25,798
Derivative liabilities:
Financial liabilities	274,206	176,680
Significant Other Observable Inputs Level 2 | Interest rate swaps
Derivative assets:
Financial assets	15,818	302
Derivative liabilities:
Financial liabilities	0	5,295
Significant Unobservable Inputs Level 3
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Significant Unobservable Inputs Level 3 | Commodity fixed forwards
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Significant Unobservable Inputs Level 3 | Futures, swaps and options
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Significant Unobservable Inputs Level 3 | Commodity derivatives
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Significant Unobservable Inputs Level 3 | Interest rate swaps
Derivative assets:
Financial assets	0	0
Derivative liabilities:
Financial liabilities	0	0
Fair Value Measurement
Derivative assets:
Financial assets	298,873	174,129
Derivative liabilities:
Financial liabilities	432,466	259,923
Fair Value Measurement | Commodity fixed forwards
Derivative assets:
Financial assets	21,203	25,793
Derivative liabilities:
Financial liabilities	274,141	176,602
Fair Value Measurement | Futures, swaps and options
Derivative assets:
Financial assets	261,852	148,034
Derivative liabilities:
Financial liabilities	158,325	78,026
Fair Value Measurement | Commodity derivatives
Derivative assets:
Financial assets	283,055	173,827
Derivative liabilities:
Financial liabilities	432,466	254,628
Fair Value Measurement | Interest rate swaps
Derivative assets:
Financial assets	15,818	302
Derivative liabilities:
Financial liabilities	$ 0	$ 5,295

Financial Instruments and Off_4

Financial Instruments and Off-Balance Sheet Risk - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain on derivative	$ 4	$ 12.8
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net fair value of financial instruments		137.8
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized losses, net of tax, expected to be reclassified to earnings	$ 5.2	$ 5.2

Financial Instruments and Off_5

Financial Instruments and Off-Balance Sheet Risk - Summary of Offsetting Arrangements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative Asset [Abstract]
Gross Amount of Assets/Liabilities in the Balance Sheet	$ 298,873	$ 174,129
Financial Instruments	(161,036)	(77,927)
Cash Collateral Posted	(86,281)	(22,623)
Net Amount	51,556	73,579
Derivative Liability [Abstract]
Gross Amount of Assets/Liabilities in the Balance Sheet	(432,466)	(259,923)
Financial Instruments	161,036	77,927
Cash Collateral Posted	0	1,313
Net Amount	(271,430)	(180,683)
Commodity derivatives
Derivative Asset [Abstract]
Gross Amount of Assets/Liabilities in the Balance Sheet	283,055	173,827
Financial Instruments	(161,036)	(77,927)
Cash Collateral Posted	(86,281)	(22,623)
Net Amount	35,738	73,277
Derivative Liability [Abstract]
Gross Amount of Assets/Liabilities in the Balance Sheet	(432,466)	(254,628)
Financial Instruments	161,036	77,927
Cash Collateral Posted	0	1,313
Net Amount	(271,430)	(175,388)
Interest rate swaps
Derivative Asset [Abstract]
Gross Amount of Assets/Liabilities in the Balance Sheet	15,818	302
Financial Instruments	0	0
Cash Collateral Posted	0	0
Net Amount	$ 15,818	302
Derivative Liability [Abstract]
Gross Amount of Assets/Liabilities in the Balance Sheet		(5,295)
Financial Instruments		0
Cash Collateral Posted		0
Net Amount		$ (5,295)

Financial Instruments and Off_6

Financial Instruments and Off-Balance Sheet Risk - Summary of Realized and Unrealized Gains (Losses) on Derivative Instruments for Commodity Risk Management (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized and unrealized gains (losses) on derivative instruments	$ (33,883)	$ (53,950)	$ 1,819	$ (72,415)
Refined products contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized and unrealized gains (losses) on derivative instruments	(37,995)	(19,503)	(171,054)	(39,277)
Natural gas contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized and unrealized gains (losses) on derivative instruments	$ 4,112	$ (34,447)	$ 172,873	$ (33,138)

Financial Instruments and Off_7

Financial Instruments and Off-Balance Sheet Risk - Schedule of Gross Volume of Commodity Derivative Instruments Outstanding (Details) bbl in Thousands, MMBTU in Thousands	6 Months Ended		12 Months Ended
	Oct. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) MMBTU bbl	Dec. 31, 2021 MMBTU bbl
Cash Flow Hedging | Interest Rate Swaps Ending December 2022 | Designated as Hedging Instrument
Investment Derivative, Notional Amount [Abstract]
Notional amount of interest rate swap agreements		$ 425,000
Cash Flow Hedging | Interest Rate Swaps Ending March 2023 | Designated as Hedging Instrument
Investment Derivative, Notional Amount [Abstract]
Notional amount of interest rate swap agreements		475,000
Cash Flow Hedging | Interest Rate Swaps Ending December 2023 | Designated as Hedging Instrument
Investment Derivative, Notional Amount [Abstract]
Notional amount of interest rate swap agreements		450,000
Cash Flow Hedging | Interest Rate Swaps Ending December 2024 | Designated as Hedging Instrument
Investment Derivative, Notional Amount [Abstract]
Notional amount of interest rate swap agreements		500,000
Cash Flow Hedging | Interest Rate Swaps Ending December 2026 | Designated as Hedging Instrument
Investment Derivative, Notional Amount [Abstract]
Notional amount of interest rate swap agreements		450,000
Cash Flow Hedging | Interest Rate Swaps Ending January 2027 | Designated as Hedging Instrument
Investment Derivative, Notional Amount [Abstract]
Notional amount of interest rate swap agreements		$ 300,000
Cash Flow Hedging | Interest rate swaps | Designated as Hedging Instrument | Subsequent event | Forecast
Investment Derivative, Notional Amount [Abstract]
Decrease in derivatives	$ (100,000,000)
Long | Refined products contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross volume, refined products (in barrels) | bbl		4,327	10,034
Long | Natural gas contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross volume, natural gas (in millions of BTUs) | MMBTU		145,722	167,709
Short | Refined products contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross volume, refined products (in barrels) | bbl		4,983	14,483
Short | Natural gas contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gross volume, natural gas (in millions of BTUs) | MMBTU		88,320	98,152

Commitments and Contingencies (

Commitments and Contingencies (Details) - Pending Litigation - USD ($) $ in Millions	Jun. 30, 2022	May 31, 2021	Sep. 14, 2020	Jun. 30, 2018
Quebec Energy Board
Segment Reporting Information [Line Items]
Loss contingency, estimate of possible loss	$ 10.3			$ 9
Ministry of the Environment, and the Fight Against Climate Change
Segment Reporting Information [Line Items]
Import tax, penalty, and interest percentage	15%
District Court for the District of Rhode Island | Minimum | Unfavorable Regulatory Action
Segment Reporting Information [Line Items]
Loss contingency, estimate of possible loss			$ 5
New York City Department of Citywide Administrative Services
Segment Reporting Information [Line Items]
Loss contingency, estimate of possible loss		$ 8.5

Equity and Equity-Based Compe_3

Equity and Equity-Based Compensation - Narrative (Details) - USD ($) $ in Thousands		6 Months Ended		12 Months Ended
	Mar. 05, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Director vested awards (in units)	172,702
Award vesting period (in years)	3 years
Non-cash unit-based compensation		$ (78)	$ 208
Common- Affiliated
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units issued (in units)	3,107,248			3,107,248
Phantom Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash unit-based compensation		$ 100	$ 200

Equity and Equity-Based Compe_4

Equity and Equity-Based Compensation Change in Partnership Units (Details) - shares		6 Months Ended	12 Months Ended
	Mar. 05, 2021	Jun. 30, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Director vested awards (in units)	172,702
Public
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in units)		6,685,698	9,995,069
Director vested awards (in units)			8,292
Ending balance (in units)		6,689,383	6,685,698
Public | Hartree Partners, LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Increase in affiliated units (in units)			(2,115,365)
Public | Bulk Storage LLC
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Increase in affiliated units (in units)			(1,375,000)
Public | Employee Bonus
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Units issued in connection with employee bonus (in units)		3,685	172,702
Sprague Holdings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in units)		19,548,849	12,951,236
Units issued (in units)	3,107,248		3,107,248
Ending balance (in units)		19,548,849	19,548,849
Sprague Holdings | Hartree Partners, LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Increase in affiliated units (in units)			2,115,365
Sprague Holdings | Bulk Storage LLC
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Increase in affiliated units (in units)			1,375,000

Earnings Per Unit (Details)

Earnings Per Unit (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Weighted average limited partner common units - basic (in units)	26,236,612	26,226,255	26,235,585	25,066,494

Partnership Distributions (Deta

Partnership Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	May 11, 2022	Feb. 09, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Cash distributed (in dollars per share)	$ 0.4338	$ 0.4338
Cash distributed	$ 11,380	$ 11,380			$ 22,761	$ 34,897
Distribution declared per unit (in dollars per share)			$ 0.4338	$ 0.6675	$ 0.8676	$ 1.3350
Distribution made to limited partner, cash distributions declared			$ 11,400
Common
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Cash distributed	11,380	11,380
IDR
Incentive Distribution Made to Managing Member or General Partner [Line Items]
Cash distributed	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - Credit Agreement - USD ($)	Jun. 30, 2022	Apr. 13, 2022	Apr. 12, 2022
Working capital facilities
Subsequent Event [Line Items]
Debt instruments, borrowing capacity	$ 535,900,000	$ 535,900,000	$ 465,000,000
Uncommitted Working Capital Facility
Subsequent Event [Line Items]
Debt instruments, borrowing capacity	$ 255,000,000	255,000,000	200,000,000
Multicurrency working capital
Subsequent Event [Line Items]
Debt instruments, borrowing capacity		$ 96,600,000	$ 85,000,000