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Quarterly Data (Unaudited)
 12 Months Ended
Jul. 31, 2020
Interim Period, Costs Not Allocable [Line Items]  
Quarterly Data

R.       Quarterly data (unaudited)

The following summarized unaudited quarterly data includes all adjustments (consisting only of normal recurring adjustments, with the exception of those items indicated below), which Ferrellgas considers necessary for a fair presentation. Due to the seasonality of the propane distribution business, first and fourth quarter Revenues, gross margin from propane and other gas liquids sales, Net earnings (loss) attributable to Ferrellgas Partners and common unitholders’ interest in net earnings (loss) are consistently less than the second and third quarter results. Other factors affecting the results of operations include competitive conditions, demand for product, timing of acquisitions, variations in the weather and fluctuations in propane prices. The sum of basic and diluted net earnings (loss) per common unitholders’ interest by quarter may not equal the basic and diluted net earnings (loss) per common unitholders’ interest for the year due to variations in the weighted average units outstanding used in computing such amounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2020

    

First quarter

    

Second quarter

    

Third quarter

    

Fourth quarter

Revenues

 

$

293,214

 

$

510,833

 

$

412,130

 

$

281,649

Gross margin from propane and other gas liquids sales (a)

 

 

139,357

 

 

247,404

 

 

215,480

 

 

140,497

Net earnings (loss) (b)

 

 

(45,717)

 

 

48,791

 

 

(15,471)

 

 

(70,605)

Net earnings (loss) attributable to Ferrellgas Partners, L.P.

 

 

(45,344)

 

 

48,207

 

 

(15,393)

 

 

(69,969)

Common unitholders’ interest in net earnings (loss)

 

 

(44,891)

 

 

47,725

 

 

(15,239)

 

 

(69,269)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net earnings (loss) per common unitholders’ interest

 

$

(0.46)

 

$

0.49

 

$

(0.16)

 

$

(0.71)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2019

    

First quarter

    

Second quarter

    

Third quarter

    

Fourth quarter

Revenues

 

$

352,309

 

$

573,377

 

$

479,625

 

$

279,081

Gross margin from propane and other gas liquids sales (a)

 

 

130,830

 

 

238,581

 

 

209,167

 

 

127,764

Net earnings (loss)

 

 

(57,508)

 

 

43,875

 

 

20,760

 

 

(71,672)

Net earnings (loss) attributable to Ferrellgas Partners, L.P.

 

 

(57,015)

 

 

43,344

 

 

20,461

 

 

(71,037)

Common unitholders’ interest in net earnings (loss)

 

 

(56,445)

 

 

42,911

 

 

20,256

 

 

(70,327)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net earnings (loss) per common unitholders’ interest

 

$

(0.58)

 

$

0.44

 

$

0.21

 

$

(0.72)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2018

    

First quarter

    

Second quarter

    

Third quarter

    

Fourth quarter

Revenues

 

$

454,655

 

$

755,156

 

$

515,810

 

$

347,521

Gross margin from propane and other gas liquids sales (a)

 

 

123,243

 

 

229,321

 

 

190,883

 

 

126,115

Gross margin from midstream operations (c)

 

 

12,635

 

 

10,209

 

 

8,077

 

 

(4,161)

Net earnings (loss) (d)

 

 

(48,316)

 

 

(1,774)

 

 

11,062

 

 

(217,797)

Net earnings (loss) attributable to Ferrellgas Partners, L.P.

 

 

(47,915)

 

 

(1,843)

 

 

10,861

 

 

(215,684)

Common unitholders’ interest in net earnings (loss)

 

 

(47,436)

 

 

(1,824)

 

 

10,752

 

 

(213,527)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net earnings (loss) per common unitholders’ interest

 

$

(0.49)

 

$

(0.02)

 

$

0.11

 

$

(2.20)

(a)

Gross margin from “Propane and other gas liquids sales” represents “Revenues - propane and other gas liquids sales” less “Cost of sales – propane and other gas liquids sales.”

(b)

Includes loss on extinguishment of debt of $37.4 million in the third quarter of fiscal 2020.

(c)

Gross margin from “Midstream operations” represents “Revenues - midstream operations” less “Cost of sales - midstream operations.”

(d)

Includes asset impairment charges of $10.0 million in the second quarter of fiscal 2018.
Ferrellgas, L.P. [Member]  
Interim Period, Costs Not Allocable [Line Items]  
Quarterly Data

Q.     Quarterly data (unaudited)

The following summarized unaudited quarterly data includes all adjustments (consisting only of normal recurring adjustments, with the exception of those items indicated below), which Ferrellgas, L.P. considers necessary for a fair presentation. Due to the seasonality of the propane distribution business, first and fourth quarter Revenues, gross margin from propane and other gas liquids sales and Net earnings are consistently less than the second and third quarter results. Other factors affecting the results of operations include competitive conditions, demand for product, timing of acquisitions, variations in the weather and fluctuations in propane prices.

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2020

    

First quarter

    

Second quarter

    

Third quarter

    

Fourth quarter

Revenues

 

$

293,214

 

$

510,833

 

$

412,130

 

$

281,649

Gross margin from propane and other gas liquids sales (a)

 

 

139,357

 

 

247,404

 

 

215,480

 

 

140,497

Net earnings (loss) (b)

 

$

(36,898)

 

$

57,756

 

$

(7,720)

 

$

(62,902)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2019

    

First quarter

    

Second quarter

    

Third quarter

    

Fourth quarter

Revenues

 

$

352,309

 

$

573,377

 

$

479,625

 

$

279,081

Gross margin from propane and other gas liquids sales (a)

 

 

130,830

 

 

238,581

 

 

209,167

 

 

127,764

Net earnings (loss)

 

$

(48,814)

 

$

52,617

 

$

29,554

 

$

(62,874)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2018

    

First quarter

    

Second quarter

    

Third quarter

    

Fourth quarter

Revenues

 

$

454,655

 

$

755,156

 

$

515,810

 

$

347,521

Gross margin from propane and other gas liquids sales (a)

 

 

123,243

 

 

229,321

 

 

190,883

 

 

126,115

Gross margin from midstream operations (c)

 

 

12,635

 

 

10,209

 

 

8,077

 

 

(4,161)

Net earnings (loss) (d)

 

$

(39,699)

 

$

6,847

 

$

19,840

 

$

(209,134)

(a)

Gross margin from “Propane and other gas liquids sales” represents “Revenues - propane and other gas liquids sales” less “Cost of sales – propane and other gas liquids sales.”

(b)

Includes loss on extinguishment of debt of $37.4 million in the third quarter of fiscal 2020.

(c)

Gross margin from “Midstream operations” represents “Revenues - midstream operations” less “Cost of sales - midstream operations.”

(d)

Includes asset impairment charges of $10.0 million in the second quarter of fiscal 2018.