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Segment Reporting (Tables)
12 Months Ended
Jul. 31, 2019
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment

 

 

 

 

 

 

 

 

 

 

   

 

Year ended July 31, 2019

 

 

Propane operations

 

 

 

 

 

 

 

 

and related equipment

 

Corporate and

 

 

 

 

    

sales

    

other

    

Total

Segment revenues

 

$

1,684,392

 

$

 —

 

$

1,684,392

Direct costs (1)

 

 

1,412,390

 

 

41,979

 

 

1,454,369

Adjusted EBITDA

 

$

272,002

 

$

(41,979)

 

$

230,023

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2018

 

 

Propane operations

 

 

 

 

 

 

 

 

and related equipment

 

Corporate and

 

 

 

 

    

sales

    

other

    

Total

Segment revenues

 

$

1,790,823

 

$

282,319

 

$

2,073,142

Direct costs (1)

 

 

1,514,755

 

 

316,468

 

 

1,831,223

Adjusted EBITDA

 

$

276,068

 

$

(34,149)

 

$

241,919

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2017

 

 

Propane operations

 

 

 

 

 

 

 

 

and related equipment

 

Corporate and

 

 

 

 

    

sales

    

other

    

Total

Segment revenues

 

$

1,463,574

 

$

466,703

 

$

1,930,277

Direct costs (1)

 

 

1,198,150

 

 

502,064

 

 

1,700,214

Adjusted EBITDA

 

$

265,424

 

$

(35,361)

 

$

230,063


(1)

Direct costs are comprised of “cost of sales-propane and other gas liquids sales”, “cost of sales-other”, “cost of sales-midstream operations”, “operating expense”, “general and administrative expense”, and “equipment lease expense” less “severance costs”, “legal fees and settlements related to non-core businesses”, “non-cash stock-based compensation charge”, “asset impairments”, “exit costs associated with contracts - Midstream dispositions”, “multi-employer pension plan withdrawal settlement” and “unrealized (non-cash) losses (gains) on changes in fair value of derivatives not designated as hedging instruments”.

Reconciliation of Net Earnings to Total Segment Performance Measures

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 

 

 

2019

    

2018

    

2017

Net loss attributable to Ferrellgas Partners, L.P.

 

$

(64,247)

 

$

(254,581)

 

$

(54,207)

Income tax expense (benefit)

 

 

323

 

 

(2,678)

 

 

(1,143)

Interest expense

 

 

177,619

 

 

168,467

 

 

152,485

Depreciation and amortization expense

 

 

78,846

 

 

101,795

 

 

103,351

EBITDA

 

 

192,541

 

 

13,003

 

 

200,486

Non-cash employee stock ownership plan compensation charge

 

 

5,693

 

 

13,859

 

 

15,088

Non-cash stock-based compensation charge

 

 

 —

 

 

 —

 

 

3,298

Asset impairments

 

 

 —

 

 

10,005

 

 

 —

Loss on asset sales and disposals

 

 

10,968

 

 

187,399

 

 

14,457

Other income, net

 

 

(369)

 

 

(928)

 

 

(1,474)

Severance costs

 

 

1,600

 

 

1,663

 

 

1,959

Legal fees and settlements related to non-core businesses

 

 

18,364

 

 

6,065

 

 

 —

Unrealized (non-cash) losses (gains) on changes in fair value of derivatives not designated as hedging instruments

 

 

 —

 

 

1,293

 

 

(3,457)

Multi-employer pension plan withdrawal settlement

 

 

1,524

 

 

 —

 

 

 —

Exit costs associated with contracts - Midstream dispositions

 

 

 —

 

 

11,804

 

 

 —

Net loss attributable to noncontrolling interest

 

 

(298)

 

 

(2,244)

 

 

(294)

Adjusted EBITDA

 

$

230,023

 

$

241,919

 

$

230,063

 

Reconciliation of Assets from Segment to Consolidated

 

 

 

 

 

 

 

Assets

    

July 31, 2019

    

July 31, 2018

Propane operations and related equipment sales

 

$

1,223,790

 

$

1,196,084

Corporate and other

 

 

39,169

 

 

167,197

Total consolidated assets

 

$

1,262,959

 

$

1,363,281

 

Schedule Of Capital Expenditures By Segment [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2019

 

 

Propane operations and

 

 

 

 

 

 

 

    

related equipment sales

    

Corporate and other

    

Total

Capital expenditures:

 

 

  

 

 

  

 

 

  

Maintenance

 

$

44,439

 

$

2,614

 

$

47,053

Growth

 

 

56,145

 

 

 —

 

 

56,145

Total

 

$

100,584

 

$

2,614

 

$

103,198

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2018

 

 

Propane operations and

 

 

 

 

 

 

 

    

related equipment sales

    

Corporate and other

    

Total

Capital expenditures:

 

 

  

 

 

  

 

 

  

Maintenance

 

$

23,979

 

$

3,584

 

$

27,563

Growth

 

 

51,229

 

 

1,255

 

 

52,484

Total

 

$

75,208

 

$

4,839

 

$

80,047

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2017

 

 

Propane operations and

 

 

 

 

 

 

 

    

related equipment sales

    

Corporate and other

    

Total

Capital expenditures:

 

 

  

 

 

  

 

 

  

Maintenance

 

$

13,330

 

$

3,808

 

$

17,138

Growth

 

 

28,912

 

 

315

 

 

29,227

Total

 

$

42,242

 

$

4,123

 

$

46,365

 

Ferrellgas, L.P. [Member]  
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2019

 

    

Propane operations

    

 

 

    

 

 

 

 

and related equipment

 

Corporate and

 

 

 

 

 

sales

 

other

 

Total

Segment revenues

 

$

1,684,392

 

$

 —

 

$

1,684,392

Direct costs (1)

 

 

1,412,299

 

 

41,056

 

 

1,454,355

Adjusted EBITDA

 

$

272,093

 

$

(41,056)

 

$

230,037

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2018

 

    

Propane operations

    

 

 

    

 

 

 

 

and related equipment

 

Corporate and

 

 

 

 

 

sales

 

other

 

Total

Segment revenues

 

$

1,790,823

 

$

282,319

 

$

2,073,142

Direct costs (1)

 

 

1,514,755

 

 

316,331

 

 

1,831,086

Adjusted EBITDA

 

$

276,068

 

$

(34,012)

 

$

242,056

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2017

 

    

Propane operations

    

 

 

    

 

 

 

 

and related equipment

 

Corporate and

 

 

 

 

 

sales

 

other

 

Total

Segment revenues

 

$

1,463,574

 

$

466,703

 

$

1,930,277

Direct costs (1)

 

 

1,198,150

 

 

501,925

 

 

1,700,075

Adjusted EBITDA

 

$

265,424

 

$

(35,222)

 

$

230,202


(1)

Direct costs are comprised of “cost of sales-propane and other gas liquids sales”, “cost of sales-other”, “cost of sales-midstream operations”, “operating expense”, “general and administrative expense”, and “equipment lease expense” less “severance costs”, “legal fees and settlements related to non-core businesses”, “non-cash stock-based compensation charge”, “asset impairments”, “exit costs associated with contracts - Midstream dispositions”, “multi-employer pension plan withdrawal settlement” and “unrealized (non-cash) losses (gains) on changes in fair value of derivatives not designated as hedging instruments”.

Reconciliation of Net Earnings to Total Segment Performance Measures

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 

 

 

2019

    

2018

    

2017

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(29,517)

 

$

(222,146)

 

$

(29,059)

Income tax expense (benefit)

 

 

293

 

 

(2,699)

 

 

(1,149)

Interest expense

 

 

142,635

 

 

133,946

 

 

127,188

Depreciation and amortization expense

 

 

78,846

 

 

101,795

 

 

103,351

EBITDA

 

 

192,257

 

 

10,896

 

 

200,331

Non-cash employee stock ownership plan compensation charge

 

 

5,693

 

 

13,859

 

 

15,088

Non-cash stock-based compensation charge

 

 

 —

 

 

 —

 

 

3,298

Asset impairments

 

 

 —

 

 

10,005

 

 

 —

Loss on asset sales and disposals

 

 

10,968

 

 

187,399

 

 

14,457

Other income, net

 

 

(369)

 

 

(928)

 

 

(1,474)

Severance costs

 

 

1,600

 

 

1,663

 

 

1,959

Legal fees and settlements related to non-core businesses

 

 

18,364

 

 

6,065

 

 

 —

Unrealized (non-cash) losses (gains) on changes in fair value of derivatives not designated as hedging instruments

 

 

 —

 

 

1,293

 

 

(3,457)

Multi-employer pension plan withdrawal settlement

 

 

1,524

 

 

 —

 

 

 —

Exit costs associated with contracts - Midstream dispositions

 

 

 —

 

 

11,804

 

 

 —

Adjusted EBITDA

 

$

230,037

 

$

242,056

 

$

230,202

 

Reconciliation of Assets from Segment to Consolidated

 

 

 

 

 

 

 

 

    

July 31, 2019

    

July 31, 2018

Assets

 

 

  

 

 

  

Propane operations and related equipment sales

 

$

1,223,790

 

$

1,196,084

Corporate and other

 

 

39,043

 

 

167,162

Total consolidated assets

 

$

1,262,833

 

$

1,363,246

 

Schedule Of Capital Expenditures By Segment [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2019

 

    

Propane operations and

    

 

 

    

 

 

 

 

related equipment sales

 

Corporate and other

 

Total

Capital expenditures:

 

 

  

 

 

  

 

 

  

Maintenance

 

$

44,439

 

$

2,614

 

$

47,053

Growth

 

 

56,145

 

 

 —

 

 

56,145

Total

 

$

100,584

 

$

2,614

 

$

103,198

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended July 31, 2018

 

    

Propane operations and

    

 

 

    

 

 

 

 

related equipment sales

 

Corporate and other

 

Total

Capital expenditures:

 

 

  

 

 

  

 

 

  

Maintenance

 

$

23,979

 

$

3,584

 

$

27,563

Growth

 

 

51,229

 

 

1,255

 

 

52,484

Total

 

$

75,208

 

$

4,839

 

$

80,047

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended July 31, 2017

 

    

Propane operations and

    

 

 

    

 

 

 

 

related equipment sales

 

Corporate and other

 

Total

Capital expenditures:

 

 

  

 

 

  

 

 

  

Maintenance

 

$

13,330

 

$

3,808

 

$

17,138

Growth

 

 

28,912

 

 

315

 

 

29,227

Total

 

$

42,242

 

$

4,123

 

$

46,365