Leases (Tables)

12 Months Ended

Jul. 31, 2020

Schedule of Lease Assets and Liabilities

Leases	Classification		July 31, 2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	107,349
Financing lease assets	Other assets, net		41,426
Total leased assets		$	148,775
Liabilities
Current
Operating	Current operating lease liabilities	$	29,345
Financing	Other current liabilities		6,955
Noncurrent
Operating	Operating lease liabilities		89,022
Financing	Other liabilities		33,473
Total leased liabilities		$	158,795

Schedule of Lease Costs

Leases expense	Classification	For the year ended July 31, 2020
Operating lease expense	Operating expense - personnel, vehicle, plant and other	$	7,450
	Operating expense - equipment lease expense		30,994
	Cost of sales - propane and other gas liquids sales		1,553
	General and administrative expense		1,490
Total operating lease expense		$	41,487
Short-term expense	Operating expense - personnel, vehicle, plant and other	$	7,188
	General and administrative expense		502
Total short-term expense		$	7,690
Variable lease expense	Operating expense - personnel, vehicle, plant and other	$	2,883
	Operating expense - equipment lease expense		1,642
Total variable lease expense		$	4,525
Finance lease expense:
Amortization of leased assets	Depreciation and amortization expense	$	2,613
Interest on lease liabilities	Interest expense		1,060
Total finance lease expense		$	3,673
Total lease expense (a)		$	57,375

(a) As of July 31, 2020 Ferrellgas has also recognized $0.5 million of expense related to the accretion of lease exit costs associated with a crude oil storage agreement that is no longer being utilized, primarily due to the various Midstream dispositions described in Note D – Acquisitions, dispositions and other significant transactions, and for which Ferrellgas does not anticipate any future economic benefit.

Schedule of Minimum Annual Payments Under Existing Operating Leases

Maturities of lease liabilities		Operating leases		Finance leases		Total
2021	$	34,686	$	10,205	$	44,891
2022		27,006		9,580		36,586
2023		35,712		7,646		43,358
2024		17,999		7,076		25,075
2025		12,701		7,085		19,786
Thereafter		21,396		10,453		31,849
Total lease payments	$	149,500	$	52,045	$	201,545
Less: Imputed interest		31,133		11,617		42,750
Present value of lease liabilities	$	118,367	$	40,428	$	158,795

Schedule of Minimum Annual Payments Under Existing Finance Leases

Maturities of lease liabilities		Operating leases		Finance leases		Total
2021	$	34,686	$	10,205	$	44,891
2022		27,006		9,580		36,586
2023		35,712		7,646		43,358
2024		17,999		7,076		25,075
2025		12,701		7,085		19,786
Thereafter		21,396		10,453		31,849
Total lease payments	$	149,500	$	52,045	$	201,545
Less: Imputed interest		31,133		11,617		42,750
Present value of lease liabilities	$	118,367	$	40,428	$	158,795

Schedule of Operating and Finance Lease Assumptions

	As of July 31, 2020
Lease type	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.2	8.2%
Finance leases	5.9	8.7%

Schedule of Cash Flow Information

	For the year ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows	$	41,636
Cash paid for amounts included in the measurement of lease liabilities for financing leases:
Operating cash flows	$	1,060
Financing cash flows	$	2,116

Schedule of Comparative Information ASC840

	Future minimum rental and buyout amounts by fiscal year
	2020		2021		2022		2023		2024		Thereafter
Operating lease obligations	$	44,392	$	36,134	$	26,312	$	20,432	$	17,196	$	17,414
Operating lease buyouts	$	3,073	$	4,371	$	6,421	$	3,527	$	1,238	$	14,433

	Contract exit
	costs
July 31, 2018	$	11,804
Accretion		448
Cash payments and other		(802)
July 31, 2019	$	11,450

	Future minimum rental and buyout amounts by fiscal year
	2020		2021		2022		2023		2024		Thereafter
Operating lease obligations	$	44,392	$	36,134	$	26,312	$	20,432	$	17,196	$	17,414
Operating lease buyouts	$	3,073	$	4,371	$	6,421	$	3,527	$	1,238	$	14,433

	Future minimum rental and buyout amounts by fiscal year
	2020		2021		2022		2023		2024		Thereafter
Operating lease obligations	$	44,392	$	36,134	$	26,312	$	20,432	$	17,196	$	17,414
Operating lease buyouts	$	3,073	$	4,371	$	6,421	$	3,527	$	1,238	$	14,433

	Contract exit
	costs
July 31, 2018	$	11,804
Accretion		448
Cash payments and other		(802)
July 31, 2019	$	11,450

	Future minimum rental and buyout amounts by fiscal year
	2020		2021		2022		2023		2024		Thereafter
Operating lease obligations	$	44,392	$	36,134	$	26,312	$	20,432	$	17,196	$	17,414
Operating lease buyouts	$	3,073	$	4,371	$	6,421	$	3,527	$	1,238	$	14,433

	Contract exit
	costs
July 31, 2018	$	11,804
Accretion		448
Cash payments and other		(802)
July 31, 2019	$	11,450

Ferrellgas, L.P. [Member]

Schedule of Lease Assets and Liabilities

Leases	Classification		July 31, 2020
Assets
Operating lease assets	Operating lease right-of-use assets	$	107,349
Financing lease assets	Other assets, net		41,426
Total leased assets		$	148,775
Liabilities
Current
Operating	Current operating lease liabilities	$	29,345
Financing	Other current liabilities		6,955
Noncurrent
Operating	Operating lease liabilities		89,022
Financing	Other liabilities		33,473
Total leased liabilities		$	158,795

Schedule of Lease Costs

Leases expense	Classification	For the year ended July 31, 2020
Operating lease expense	Operating expense - personnel, vehicle, plant and other	$	7,450
	Operating expense - equipment lease expense		30,994
	Cost of sales - propane and other gas liquids sales		1,553
	General and administrative expense		1,490
Total operating lease expense		$	41,487
Short-term expense	Operating expense - personnel, vehicle, plant and other	$	7,188
	General and administrative expense		502
Total short-term expense		$	7,690
Variable lease expense	Operating expense - personnel, vehicle, plant and other	$	2,883
	Operating expense - equipment lease expense		1,642
Total variable lease expense		$	4,525
Finance lease expense:
Amortization of leased assets	Depreciation and amortization expense	$	2,613
Interest on lease liabilities	Interest expense		1,060
Total finance lease expense		$	3,673
Total lease expense (a)		$	57,375

(a) As of July 31, 2020 Ferrellgas, L.P. has also recognized $0.5 million of expense related to the accretion of lease exit costs associated with a crude oil storage agreement that is no longer being utilized, primarily due to the various Midstream dispositions described in Note D – Acquisitions, dispositions and other significant transactions, and for which Ferrellgas, L.P. does not anticipate any future economic benefit.

Schedule of Minimum Annual Payments Under Existing Operating Leases

Maturities of lease liabilities		Operating leases		Finance leases		Total
2021	$	34,686	$	10,205	$	44,891
2022		27,006		9,580		36,586
2023		35,712		7,646		43,358
2024		17,999		7,076		25,075
2025		12,701		7,085		19,786
Thereafter		21,396		10,453		31,849
Total lease payments	$	149,500	$	52,045	$	201,545
Less: Imputed interest		31,133		11,617		42,750
Present value of lease liabilities	$	118,367	$	40,428	$	158,795

Schedule of Minimum Annual Payments Under Existing Finance Leases

Maturities of lease liabilities		Operating leases		Finance leases		Total
2021	$	34,686	$	10,205	$	44,891
2022		27,006		9,580		36,586
2023		35,712		7,646		43,358
2024		17,999		7,076		25,075
2025		12,701		7,085		19,786
Thereafter		21,396		10,453		31,849
Total lease payments	$	149,500	$	52,045	$	201,545
Less: Imputed interest		31,133		11,617		42,750
Present value of lease liabilities	$	118,367	$	40,428	$	158,795

Schedule of Operating and Finance Lease Assumptions

	As of July 31, 2020
Lease type	Weighted-average remaining lease term (years)	Weighted-average discount rate
Operating leases	5.2	8.2%
Finance leases	5.9	8.7%

Schedule of Cash Flow Information

	For the year ended July 31, 2020
Cash paid for amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows	$	41,636
Cash paid for amounts included in the measurement of lease liabilities for financing leases:
Operating cash flows	$	1,060
Financing cash flows	$	2,116

Schedule of Comparative Information ASC840

	Future minimum rental and buyout amounts by fiscal year
	2020		2021		2022		2023		2024		Thereafter
Operating lease obligations	$	44,392	$	36,134	$	26,312	$	20,432	$	17,196	$	17,414
Operating lease buyouts	$	3,073	$	4,371	$	6,421	$	3,527	$	1,238	$	14,433

	Contract exit
	costs
July 31, 2018	$	11,804
Accretion		448
Cash payments and other		(802)
July 31, 2019	$	11,450

	Future minimum rental and buyout amounts by fiscal year
	2020		2021		2022		2023		2024		Thereafter
Operating lease obligations	$	44,392	$	36,134	$	26,312	$	20,432	$	17,196	$	17,414
Operating lease buyouts	$	3,073	$	4,371	$	6,421	$	3,527	$	1,238	$	14,433

	Contract exit
	costs
July 31, 2018	$	11,804
Accretion		448
Cash payments and other		(802)
July 31, 2019	$	11,450