Income Taxes

12 Months Ended

Jul. 31, 2012

Ferrellgas Partners Finance Corp. [Member]

Income Taxes

C.Income taxes

Income taxes have been computed separately as the Finance Corp. files its own income tax return. Deferred income taxes are provided as a result of temporary differences between financial and tax reporting using the asset/liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities.

Due to the inability of the Finance Corp. to utilize the deferred tax benefit of $4,270 associated with the net operating loss carryforward of $10,977, which expire at various dates through July 31, 2032, a valuation allowance has been provided on the full amount of the deferred tax asset. Accordingly, there is no net deferred tax benefit for fiscal 2012, 2011 or 2010, and there is no net deferred tax asset as of July 31, 2012 and 2011.

Ferrellgas Finance Corp. [Member]

Income Taxes

C.Income taxes

Income taxes have been computed separately as the Finance Corp. files its own income tax return. Deferred income taxes are provided as a result of temporary differences between financial and tax reporting using the asset/liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities.

Due to the inability of the Finance Corp. to utilize the deferred tax benefit of $15,101 associated with the net operating loss carryforward of $38,821, which expires at various dates through July 31, 2032, a valuation allowance has been provided on the full amount of the deferred tax asset. Accordingly, there is no net deferred tax benefit for fiscal 2012, 2011 and 2010, and there is no net deferred tax asset as of July 31, 2012 and 2011.