Net Earnings (Loss) Per Common Unitholders' Interest

3 Months Ended

Oct. 31, 2012

Net Earnings (Loss) Per Common Unitholders' Interest [Abstract]

Net Earnings (Loss) Per Common Unitholders' Interest

K.Net loss per common unitholders’ interest

Below is a calculation of the basic and diluted net loss available per common unitholders’ interest in the condensed consolidated statements of earnings for the periods indicated. In accordance with guidance issued by the FASB regarding participating securities and the two-class method, Ferrellgas calculates net earnings (loss) per common unitholders’ interest for each period presented according to distributions declared and participation rights in undistributed earnings, as if all of the earnings or loss for the period had been distributed. In periods with undistributed earnings above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the general partner and a dilution of the earnings to the limited partners. Due to the seasonality of the propane business, the dilution effect of the guidance on the two-class method typically impacts only the three months ending January 31. There was not a dilutive effect resulting from this guidance on basic and diluted net loss per common unitholders’ interest for the three months ended October 31, 2012 nor 2011.

In periods with net losses, the allocation of the net losses to the limited partners and the general partner will be determined based on the same allocation basis specified in the Ferrellgas Partners’ partnership agreement that would apply to periods in which there were no undistributed earnings. Additionally, in periods with net losses, there are no dilutive securities.

	For the three months ended October 31,
	2012		2011
Common unitholders’ interest in net loss	$	(17,481)	$	(32,278)
Weighted average common units outstanding (in thousands)		79,013.3		75,966.4
Dilutive securities		-		-
Weighted average common units outstanding plus dilutive securities		79,013.3		75,966.4
Basic and diluted net loss per common unitholders’ interest	$	(0.22)	$	(0.42)