Goodwill And Intangible Assets, Net

12 Months Ended

Jul. 31, 2013

Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:



	July 31, 2013							July 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	253,362	$	—		$	253,362	$	248,944	$	—		$	248,944

Intangible assets, net
Amortized intangible assets
Customer lists	$	416,620	$	(302,179	)	$	114,441	$	404,409	$	(282,848	)	$	121,561
Non-compete agreements	47,974		(40,994		)	6,980		47,030		(39,153		)	7,877
Other	9,172		(3,445		)	5,727		3,507		(2,892		)	615
	473,766		(346,618		)	127,148		454,946		(324,893		)	130,053

Unamortized intangible assets
Trade names & trademarks	62,368					62,368		59,065					59,065
Total intangible assets, net	$	536,134	$	(346,618	)	$	189,516	$	514,011	$	(324,893	)	$	189,118

Changes in the carrying amount of goodwill are as follows:



Balance July 31, 2011	$	248,944
Acquisitions	—
Balance July 31, 2012	248,944
Acquisitions	4,640
Other	$	(222	)
Balance July 31, 2013	$	253,362

Customer lists have estimated lives of 15 years, while non-compete agreements and other intangible assets have estimated lives ranging from two to 10 years. Ferrellgas intends to utilize all acquired trademarks and trade names and does not believe there are any legal, regulatory, contractual, competitive, economical or other factors that would limit their useful lives. Therefore, trademarks and trade names have indefinite useful lives. Customer lists, non-compete agreements and other intangibles carry a weighted average life of nine years, seven years and seven years, respectively.



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2013	$	21,725
2012	21,604
2011	23,766



Estimated amortization expense:
For the year ended July 31,
2014	$	19,586
2015	16,758
2016	16,587
2017	16,012
2018	13,457

Ferrellgas, L.P. [Member]

Goodwill And Intangible Assets, Net

Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:



	July 31, 2013							July 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	253,362	$	—		$	253,362	$	248,944	$	—		$	248,944

Intangible assets, net
Amortized intangible assets
Customer lists	$	416,620	$	(302,179	)	$	114,441	$	404,409	$	(282,848	)	$	121,561
Non-compete agreements	47,974		(40,994		)	6,980		47,030		(39,153		)	7,877
Other	9,172		(3,445		)	5,727		3,507		(2,892		)	615
	473,766		(346,618		)	127,148		454,946		(324,893		)	130,053

Unamortized intangible assets
Trade names & trademarks	62,368					62,368		59,065					59,065
Total intangible assets, net	$	536,134	$	(346,618	)	$	189,516	$	514,011	$	(324,893	)	$	189,118

Changes in the carrying amount of goodwill are as follows:



Balance July 31, 2011	$	248,944
Acquisitions	—
Balance July 31, 2012	248,944
Acquisitions	4,640
Other	(222		)
Balance July 31, 2013	$	253,362

Customer lists have estimated lives of 15 years, while non-compete agreements and other intangible assets have estimated lives ranging from two to 10 years. Ferrellgas, L.P. intends to utilize all acquired trademarks and trade names and does not believe there are any legal, regulatory, contractual, competitive, economical or other factors that would limit their useful lives. Therefore, trademarks and trade names have indefinite useful lives. Customer lists, non-compete agreements and other intangibles carry a weighted average life of nine years, seven years and seven years, respectively.



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2013	$	21,725
2012	21,604
2011	23,766



Estimated amortization expense:
For the year ended July 31,
2014	$	19,586
2015	16,758
2016	16,587
2017	16,012
2018	13,457

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details