Quarterly Data

12 Months Ended

Jul. 31, 2012

Quarterly Data

P.Quarterly data (unaudited)

The following summarized unaudited quarterly data includes all adjustments (consisting only of normal recurring adjustments, with the exception of those items indicated below), which Ferrellgas considers necessary for a fair presentation. Due to the seasonality of the propane distribution industry, first and fourth quarter Revenues, gross margin from propane and other gas liquids sales, Net earnings attributable to Ferrellgas Partners, L.P. and Common unitholders’ interest in net earnings are consistently less than the second and third quarter results. Other factors affecting the results of operations include competitive conditions, demand for product, timing of acquisitions, variations in the weather and fluctuations in propane prices. The sum of Basic and diluted net earnings (loss) per common unitholders’ interest by quarter may not equal the Basic and diluted net earnings (loss) per common unitholders’ interest for the year due to variations in the weighted average units outstanding used in computing such amounts.

For the year ended July 31, 2012	First quarter				Second quarter		Third quarter		Fourth quarter
Revenues	$		538,426		$	829,272	$	629,619	$	341,775
Gross margin from propane and other gas liquids sales (a)			111,097			178,967		155,123		113,872
Net earnings (loss)			(32,895)			36,787		21,062		(35,850)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.			(32,604)			36,374		20,807		(35,529)
Common unitholders’ interest in net earnings (loss)			(32,278)			36,010		20,599		(35,173)
Basic and diluted net earnings (loss) per common unitholders’ interest	$		(0.42)		$	0.47	$	0.26	$	(0.45)
For the year ended July 31, 2011		First quarter			Second quarter (b)		Third quarter (c)		Fourth quarter
Revenues		$		400,192	$	840,992	$	732,373	$	449,658
Gross margin from propane and other gas liquids sales (a)				112,137		214,763		164,608		111,405
Net earnings (loss)				(28,265)		22,419		3,369		(41,283)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.				(28,043)		22,129		3,173		(40,907)
Common unitholders’ interest in net earnings (loss)				(27,763)		21,908		3,141		(40,498)
Basic and diluted net earnings (loss) per common unitholders’ interest		$		(0.40)	$	0.31	$	0.04	$	(0.53)

(a) Gross margin from “Propane and other gas liquids sales” represents “Revenues - Propane and other gas liquids sales” less “Cost of product sold – propane and other gas liquids sales.”

(b) Includes “Loss on extinguishment of debt,” which decreased Net earnings by $36.4 million, decreased Net earnings attributable to Ferrellgas Partners, L.P. by $36.1 million, decreased Common unitholders’ interest in net earnings by $35.7 million and decreased Basic and diluted net earnings per common unitholders’ interest by $0.50. See Note H – Debt – for a discussion of make-whole payments and non-cash write-offs of debt.

(c) Includes litigation accrual and related legal fees, which decreased Net earnings by $10.5 million, decreased Net earnings attributable to Ferrellgas Partners, L.P. by $10.4 million, decreased Common unitholders’ interest in net earnings by $10.3 million and decreased Basic and diluted net earnings per common unitholders’ interest by $0.14. Also includes “Loss on extinguishment of debt,” which decreased Net earnings by $10.6 million, decreased Net earnings attributable to Ferrellgas Partners, L.P. by $10.5 million, decreased Common unitholders’ interest in net earnings by $10.4 million and decreased Basic and diluted net earnings per common unitholders’ interest by $0.14. See Note M – Contingencies and commitments - for a discussion of the litigation accrual and related legal fees. See Note H – Debt – for a discussion of make-whole payments and non-cash write-offs of debt.

Ferrellgas, L.P. [Member]

Quarterly Data

O.Quarterly data (unaudited)

The following summarized unaudited quarterly data includes all adjustments (consisting only of normal recurring adjustments, with the exception of those items indicated below), which Ferrellgas, L.P. considers necessary for a fair presentation. Due to the seasonality of the propane distribution industry, first and fourth quarter Revenues, gross margin from propane and other gas liquids sales and Net earnings are consistently less than the second and third quarter results. Other factors affecting the results of operations include competitive conditions, demand for product, timing of acquisitions, variations in the weather and fluctuations in propane prices.

For the year ended July 31, 2012	First quarter				Second quarter		Third quarter		Fourth quarter
Revenues	$		538,426		$	829,272	$	629,619	$	341,775
Gross margin from propane and other gas liquids sales (a)			111,097			178,967		155,123		113,872
Net earnings (loss)	$		(28,802)		$	40,884	$	25,253	$	(31,746)
For the year ended July 31, 2011		First quarter			Second quarter (b)		Third quarter (c)		Fourth quarter
Revenues		$		400,192	$	840,992	$	732,373	$	449,658
Gross margin from propane and other gas liquids sales (a)				112,137		214,763		164,608		111,405
Net earnings (loss)		$		(21,999)	$	28,688	$	19,416	$	(37,167)

(a) Gross margin from “Propane and other gas liquids sales” represents “Revenues - Propane and other gas liquids sales” less “Cost of product sold – propane and other gas liquids sales.”

(b) Includes “Loss on extinguishment of debt,” which decreased Net earnings by $36.4 million. See Note H – Debt – for a discussion of make-whole payments and non-cash write-offs of debt.

(c) Includes litigation accrual and related legal fees, which decreased Net earnings by $10.5 million. See Note M – Contingencies and commitments - for a discussion of the litigation accrual and related legal fees.