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Debt
6 Months Ended
Jan. 31, 2013
Debt
E.  Debt
 
Short-term borrowings
 
Ferrellgas classified a portion of its secured credit facility borrowings as short-term because it was used to fund working capital needs that management had intended to pay down within the 12 month period following each balance sheet date. As of January 31, 2013 and July 31, 2012, $72.7 million and $95.7 million, respectively, were classified as short-term borrowings. For further discussion see the secured credit facility section below.
 
Secured credit facility
 
As of January 31, 2013, Ferrellgas had total borrowings outstanding under its secured credit facility of $159.5 million, of which $86.8 million was classified as long-term debt. As of July 31, 2012, Ferrellgas had total borrowings outstanding under its secured credit facility of $160.0 million, of which $64.3 million was classified as long-term debt.
 
Borrowings outstanding at January 31, 2013 and July 31, 2012 under the secured credit facility had a weighted average interest rate of 4.1% and 4.2%, respectively.
 
The obligations under this credit facility are secured by substantially all assets of the operating partnership, the general partner and certain subsidiaries of the operating partnership but specifically excluding (a) assets that are subject to the operating partnership’s accounts receivable securitization facility, (b) the general partner’s equity interest in Ferrellgas Partners and (c) equity interest in certain unrestricted subsidiaries. Such obligations are also guaranteed by the general partner and certain subsidiaries of the operating partnership.
 
Letters of credit outstanding at January 31, 2013 totaled $62.6 million and were used primarily to secure insurance arrangements and to a lesser extent, commodity hedges and product purchases. Letters of credit outstanding at July 31, 2012 totaled $64.5 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. At January 31, 2013, Ferrellgas had available letter of credit remaining capacity of $137.4 million. At July 31, 2012, Ferrellgas had available letter of credit remaining capacity of $135.5 million.
Ferrellgas, L.P. [Member]
 
Debt
E.  Debt
 
Short-term borrowings
 
Ferrellgas, L.P. classified a portion of its secured credit facility borrowings as short-term because it was used to fund working capital needs that management had intended to pay down within the 12 month period following each balance sheet date. As of January 31, 2013 and July 31, 2012, $72.7 million and $95.7 million, respectively, were classified as short-term borrowings. For further discussion see the secured credit facility section below.
 
Secured credit facility
 
As of January 31, 2013, Ferrellgas, L.P. had total borrowings outstanding under its secured credit facility of $159.5 million, of which $86.8 million was classified as long-term debt. As of July 31, 2012, Ferrellgas, L.P. had total borrowings outstanding under its secured credit facility of $160.0 million, of which $64.3 million was classified as long-term debt.
 
Borrowings outstanding at January 31, 2013 and July 31, 2012 under the secured credit facility had a weighted average interest rate of 4.1% and 4.2%, respectively.
 
The obligations under this credit facility are secured by substantially all assets of Ferrellgas, L.P., the general partner and certain subsidiaries of Ferrellgas, L.P. but specifically excluding (a) assets that are subject to Ferrellgas, L.P.’s accounts receivable securitization facility, (b) the general partner’s equity interest in Ferrellgas Partners and (c) equity interest in certain unrestricted subsidiaries. Such obligations are also guaranteed by the general partner and certain subsidiaries of Ferrellgas, L.P.
 
Letters of credit outstanding at January 31, 2013 totaled $62.6 million and were used primarily to secure insurance arrangements and to a lesser extent, commodity hedges and product purchases. Letters of credit outstanding at July 31, 2012 totaled $64.5 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. At January 31, 2013, Ferrellgas, L.P. had available letter of credit remaining capacity of $137.4 million. At July 31, 2012, Ferrellgas, L.P. had available letter of credit remaining capacity of $135.5 million.