Goodwill And Intangible Assets, Net

12 Months Ended

Jul. 31, 2019

Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]

Goodwill And Intangible Assets, Net

G.        Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:

	July 31, 2019						July 31, 2018
	Gross Carrying		Accumulated				Gross Carrying		Accumulated
	Amount		Amortization		Net		Amount		Amortization		Net
Goodwill, net	$	247,195	$	—	$	247,195	$	246,098	$	—	$	246,098
Intangible assets, net
Amortized intangible assets
Customer related	$	442,652	$	(390,052)	$	52,600	$	441,393	$	(376,605)	$	64,788
Non-compete agreements		25,582		(20,645)		4,937		24,653		(19,511)		5,142
Other		3,513		(3,513)		—		3,513		(3,513)		—
		471,747		(414,210)		57,537		469,559		(399,629)		69,930
Unamortized intangible assets
Trade names & trademarks		51,020		—		51,020		51,021		—		51,021
Total intangible assets, net	$	522,767	$	(414,210)	$	108,557	$	520,580	$	(399,629)	$	120,951

During fiscal 2018, Ferrellgas recorded a goodwill impairment charge of $10.0 million related to a decline in future expected cash flows of an immaterial reporting unit of our Propane operations and related equipment sales segment.

Changes in the carrying amount of goodwill are as follows:

	Propane operations and
	related equipment sales
Balance July 31, 2017	$	256,103
Impairment		(10,005)
Balance July 31, 2018		246,098
Acquisitions		1,410
Other		(313)
Balance July 31, 2019	$	247,195

Customer related intangible assets have estimated lives of 15 years and non-compete agreements and other intangible assets have estimated lives ranging from five 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 related intangibles carry a weighted average life of 15 years, and non-compete agreements and other intangibles carry a weighted average life of nine years.

Aggregate amortization expense related to intangible assets, net:

For the year ended July 31,
2019	$	14,581
2018		31,345
2017		32,148

Estimated amortization expense:

For the year ended July 31,
2020	$	9,121
2021		8,382
2022		6,993
2023		6,666
2024		6,390

Ferrellgas, L.P. [Member]

Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]

Goodwill And Intangible Assets, Net

G.      Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:

	July 31, 2019						July 31, 2018
	Gross						Gross
	Carrying		Accumulated				Carrying		Accumulated
	Amount		Amortization		Net		Amount		Amortization		Net
Goodwill, net	$	247,195	$	—	$	247,195	$	246,098	$	—	$	246,098
Intangible assets, net
Amortized intangible assets
Customer related	$	442,652	$	(390,052)	$	52,600	$	441,393	$	(376,605)	$	64,788
Non-compete agreements		25,582		(20,645)		4,937		24,653		(19,511)		5,142
Other		3,513		(3,513)		—		3,513		(3,513)		—
		471,747		(414,210)		57,537		469,559		(399,629)		69,930
Unamortized intangible assets
Trade names & trademarks		51,020		—		51,020		51,021		—		51,021
Total intangible assets, net	$	522,767	$	(414,210)	$	108,557	$	520,580	$	(399,629)	$	120,951

During fiscal 2018, Ferrellgas recorded a goodwill impairment charge of $10.0 million related to a decline in future expected cash flows of an immaterial reporting unit of our Propane operations and related equipment sales segment.

Changes in the carrying amount of goodwill are as follows:

	Propane operations and
	related equipment sales
Balance July 31, 2017	$	256,103
Impairment		(10,005)
Balance July 31, 2018		246,098
Acquisitions		1,410
Other		(313)
Balance July 31, 2019	$	247,195

Customer related intangible assets have estimated lives of 15 years and non-compete agreements and other intangible assets have estimated lives ranging from five 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 related intangibles carry a weighted average life of 15 years and non-compete agreements and other intangibles carry a weighted average life of nine years.

Aggregate amortization expense related to intangible assets, net:

For the year ended July 31,
2019	$	14,581
2018		31,345
2017		32,148

Estimated amortization expense:

For the year ended July 31,
2020	$	9,121
2021		8,382
2022		6,993
2023		6,666
2024		6,390