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Goodwill And Intangible Assets, Net

12 Months Ended

Jul. 31, 2011

G. Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of:


	July 31, 2011				July 31, 2010
	Gross carrying amount	Accum-ulated amortization	Net	Gross carrying amount		Accum-ulated amortization	Net
Goodwill, net	$248,944	$ -	$248,944	$248,939		$ -	$248,939

Intangible Assets, net
Amortized intangible assets
Customer lists	$398,835	$(263,631)	$135,204	$395,682		$(244,197)	$151,485
Non-compete agreements	46,024	(37,189)	8,835	44,341		(35,203)	9,138
Other	3,507	(2,540)	967	3,507		(2,190)	1,317
	448,366	(303,360)	145,006	443,530		(281,590)	161,940

Unamortized intangible assets
Trade names & trademarks	59,130	-	59,130	59,117		-	59,117
Total intangible assets, net	$507,496	$(303,360)	$204,136	$502,647		$(281,590)	$221,057

Customer lists have estimated lives of 15 years, while non-compete agreements and other intangible assets have estimated lives ranging from two to ten 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.

Aggregate amortization expense:

For the year ended July 31,

2011 $23,766

2010 21,180

2009 20,166

Estimated amortization expense:

For the year ended July 31,

2012 $21,207

2013 20,656

2014 17,389

2015 14,561

2016 14,390

Ferrellgas, L.P. And Subsidiaries [Member]

Goodwill And Intangible Assets, Net

G. Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of:


	July 31, 2011			July 31, 2010
	Gross carrying amount	Accum-ulated amortization	Net	Gross carrying amount	Accum-ulated amortization	Net
Goodwill, net	$248,944	$ -	$248,944	$248,939	$ -	$248,939
Intangible assets, net Amortized intangible assets
Customer lists	$398,835	$(263,631)	$135,204	$395,682	$(244,197)	$151,485
Non-compete agreements	46,024	(37,189)	8,835	44,341	(35,203)	9,138
Other	3,507	(2,540)	967	3,507	(2,190)	1,317
	448,366	(303,360)	145,006	443,530	(281,590)	161,940

Unamortized intangible assets
Trade names & trademarks	59,130	-	59,130	59,117	-	59,117
Total intangible assets, net	$507,496	$(303,360)	$204,136	$502,647	$(281,590)	$221,057

Customer lists have estimated lives of 15 years, while non-compete agreements and other intangible assets have estimated lives ranging from two to ten 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.

Aggregate amortization expense:

For the year ended July 31,

2011 $23,766

2010 21,180

2009 20,166

Estimated amortization expense:

For the year ended July 31,

2012 $21,207

2013 20,656

2014 17,389

2015 14,561

2016 14,390

- 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.

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