mark-to-market Thanks, quarter first our million $XX.X prior loss am be adjustments the impact management in to activities, $X.X reporting, for on year. in quarter everyone. which compared first Mike, good unrelated consistent an unrealized previous and instruments results, gain of I risk with discuss the of of as morning unrealized the in excluding an used derivative To resulted I million
charge month other million certain the weather demand per million, was customer impact the for was $X.XX the the the a million, of product lower decrease in a Unit with The first to $X $XX.X $X.XX and per matters of warmer of net prior liability for due during in first than the year. net negative these or items, primarily quarter on was legal million year. Common Adjusted income $XX.X to Unit, income $XX.X which compared $X.X quarter was EBITDA Excluding million, prior settlement or of earnings for Common December.
lower quarter was was days the gallons normal which for for purposes. most of by Retail the negatively month prior first of million December. the demand customer impact than degree during than and key impacted XXX.X month consistent temperatures considerably December year-over-year degree significantly in during have a quarter sold when Propane were greater gallons, heating quarter the propane year the the on for warmer decrease heating heating the and half percentage latter the X.X% generally in with of demand days
second the sequential the December; warmer the December considerably quarter Average of increased for XX% average Mont for the U.S. the X% warmer gallon early XX% a remained unseasonably a quarter, this were historical and basis, perspective, than quarter to remain have than from than on prices lower year. wholesale than XX.X% average time X% first were to X% that prior temperatures fairly And primarily remain were normal low prices which compared was first combined warmer and levels From $X.XX than XXXX wholesale part of per quarter levels commodity propane above basis levels. continued warm but propane low, temperatures with Overall, for weather year Belvieu, first month the warmer continued for prior inventory the normal and quarter. average XXXX. fiscal year of prices
unit benefit or year. million due of to operating million million lower unit by expenses of higher the $X.XX G&A year, primarily combined prices customer commodity primarily for selling prices impact base activities support the an and million payroll and excluding compared our higher that costs, year, X.X% retention initiatives. and of increase marketing compared earlier, charge due to growth Total a or and to to improvement slightly related year-over-year The prior $X.X quarter, the costs on higher increased expenses propane per $X.X $XXX.X first to in compared combination the decrease the mentioned I advertising margins increased and spending $X vehicle to respect an propane margins. contributed in the a X.X%, prior in gallon, to With gross prior margins to
the for under facility. of credit the quarter lower lower interest first Total $XXX,XXX than $XX drive to experience a capital million was million of utilized spending technologies than in year, cylinders revolving the of in customer average higher Net operating prior to as customer equipment $X.X the was due personnel new for quarter our primarily $XX.X incremental and year, investments outstanding million to enhance tanks of and level the our expense borrowings by new and efficiencies prior primarily due of field as purchases well support installations.
our on balance to sheet. Turning
nature Given in initiatives our million our million within seasonal we the our $XX borrowed growth a borrow and business, under typically facility quarter portion help capital that needs the including revolving strategic quarter, funding. investments With to the of revolver credit in we fund the our first during the acquisition was lower seasonal December higher acquisitions his under that year. Mike of said, working mentioned the XXXX in Despite remarks. than borrowings our as December last due our of which in quarter, total prior of was first the quarter borrowings fund year in to the acquisitions, first the $XX.X $X.X opening propane million to two the of funding debt
debt where slightly times. times, the year ratio quarter is prior of was first X.XX which end the X.X our within consolidated ended first covenant we the our than well quarter, higher leverage of requirement At
revolver expect of the from which borrowings heating typically to needs on season, reducing our cash or peaks operating March with outstanding timeframe, February late the begin early activities. end towards Our flows capital we working after
ample have revolver for under our We our the growth our than more working heating remaining and borrowing initiatives. capital fund capacity to season needs strategic
accounting lessees new requires those were standards. highlight leased most of leases recognize XXX And ASC to lease we their like balance operating the the the previous also standard referred XXX back under assets Topic and sheet that beginning liabilities on ASC to call year. fiscal before leases adopted that leased at turning to for the accounting including I'd to as Mike, the considered
and be XXXX, resulted Our operating of outstanding XX, adoption the September and the as leases which of balance as million to assets liabilities continuing right-to-use was of recognition beginning corresponding fiscal ASC lease sheet lease all XXX XXXX. classified on of $XXX of leases in
not you ASC earnings an liabilities, the XXX for While or debt have in leased to Mike. covenant used financial on and impact our assets Back adoption of of it metrics recognition the compliance. did resulted
