Derivatives (Tables)

3 Months Ended

Oct. 31, 2012

Oct. 31, 2011

Fair Value of Financial Derivatives Balance Sheet Locations

	October 31, 2012
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Location	Fair value		Location	Fair value
Commodity derivatives propane swaps	Prepaid expenses and other current assets	$	4,166	Other current liabilities	$	4,469
Interest rate swap agreements, current portion	Prepaid expenses and other current assets		3,350	Other current liabilities		-
Interest rate swap agreements, noncurrent portion	Other assets, net		3,961	Other liabilities		2,028
	Total	$	11,477	Total	$	6,497
	July 31, 2012
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Location	Fair value		Location	Fair value
Commodity derivatives propane swaps	Prepaid expenses and other current assets	$	1,049	Other current liabilities	$	12,069
Interest rate swap agreements, current portion	Prepaid expenses and other current assets		3,346	Other current liabilities		-
Interest rate swap agreements, noncurrent portion	Other assets, net		4,438	Other liabilities		1,778
	Total	$	8,833	Total	$	13,847

Fair Value Derivatives Earnings Performance

		Amount of Gain Recognized on Derivative				Amount of Interest Expense Recognized on Fixed-Rated Debt (Related Hedged Item)
Derivative Instrument	Location of Gain Recognized on Derivative	For the three months ended October 31,				For the three months ended October 31,
		2012		2011		2012		2011
Interest rate swap agreements	Interest expense	$	724	$	-	$	(5,469)	$	(5,469)

Cash Flow Derivative Value Recorded in OCI and reclassified to Earnings

	For the three months ended October 31, 2012
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCL on Derivative		Location of Gain (Loss) Reclassified from AOCL into Income	Amount of Gain (Loss) Reclassified from AOCL into Income
Commodity derivatives propane swaps	$	6,526	Cost of product sold- propane and other gas liquids sales	$	(4,191)
Interest rate swap agreements		(250)	Interest expense		-
	$	6,276		$	(4,191)

	For the three months ended October 31, 2011
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCL on Derivative		Location of Gain (Loss) Reclassified from AOCL into Income	Amount of Gain (Loss) Reclassified from AOCL into Income
Commodity derivatives propane swaps	$	(2,528)	Cost of product sold- propane and other gas liquids sales	$	1,879
	$	(2,528)		$	1,879

Changes in Derivative Value Effect on Other Comprehensive Income Loss

	For the three months ended October 31,
Derivative gains (losses) included in AOCL	2012		2011
Beginning balance	$	(12,799)	$	5,161
Change in value on risk management commodity derivatives		6,526		(2,528)
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales		4,191		(1,879)
Change in value on risk management interest rate derivatives		(250)		-
Ending balance	$	(2,332)	$	754

Ferrellgas, L.P. [Member]

Fair Value of Financial Derivatives Balance Sheet Locations

	October 31, 2012
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Location	Fair value		Location	Fair value
Commodity derivatives propane swaps	Prepaid expenses and other current assets	$	4,166	Other current liabilities	$	4,469
Interest rate swap agreements, current portion	Prepaid expenses and other current assets		3,350	Other current liabilities		-
Interest rate swap agreements, noncurrent portion	Other assets, net		3,961	Other liabilities		2,028
	Total	$	11,477	Total	$	6,497
	July 31, 2012
	Asset Derivatives			Liability Derivatives
Derivative Instrument	Location	Fair value		Location	Fair value
Commodity derivatives propane swaps	Prepaid expenses and other current assets	$	1,049	Other current liabilities	$	12,069
Interest rate swap agreements, current portion	Prepaid expenses and other current assets		3,346	Other current liabilities		-
Interest rate swap agreements, noncurrent portion	Other assets, net		4,438	Other liabilities		1,778
	Total	$	8,833	Total	$	13,847

Fair Value Derivatives Earnings Performance

		Amount of Gain Recognized on Derivative				Amount of Interest Expense Recognized on Fixed-Rated Debt (Related Hedged Item)
Derivative Instrument	Location of Gain Recognized on Derivative	For the three months ended October 31,				For the three months ended October 31,
		2012		2011		2012		2011
Interest rate swap agreements	Interest expense	$	724	$	-	$	(5,469)	$	(5,469)

Cash Flow Derivative Value Recorded in OCI and reclassified to Earnings

	For the three months ended October 31, 2012
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCL on Derivative		Location of Gain (Loss) Reclassified from AOCL into Income	Amount of Gain (Loss) Reclassified from AOCL into Income
Commodity derivatives propane swaps	$	6,526	Cost of product sold- propane and other gas liquids sales	$	(4,191)
Interest rate swap agreements		(250)	Interest expense		-
	$	6,276		$	(4,191)

	For the three months ended October 31, 2011
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCL on Derivative		Location of Gain (Loss) Reclassified from AOCL into Income	Amount of Gain (Loss) Reclassified from AOCL into Income
Commodity derivatives propane swaps	$	(2,528)	Cost of product sold- propane and other gas liquids sales	$	1,879
	$	(2,528)		$	1,879

Changes in Derivative Value Effect on Other Comprehensive Income Loss

	For the three months ended October 31,
Derivative gains (losses) included in AOCL	2012		2011
Beginning balance	$	(12,799)	$	5,161
Change in value on risk management commodity derivatives		6,526		(2,528)
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales		4,191		(1,879)
Change in value on risk management interest rate derivatives		(250)		-
Ending balance	$	(2,332)	$	754