XML 59 R42.htm IDEA: XBRL DOCUMENT v3.20.2
Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Jul. 31, 2020
Fair Value of Financial Derivatives Balance Sheet Locations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final

July 31, 2020

 

 

Maturity

Asset Derivatives

 

Liability Derivatives

Derivative Instrument

    

Date

Location

    

Fair value

    

Location

    

Fair value

Derivatives designated as hedging instruments

 

December 2021

  

 

 

  

 

  

 

 

  

Commodity derivatives-propane

 

 

Prepaid expenses and other current assets

 

$

2,846

 

Other current liabilities

 

$

5,029

Commodity derivatives-propane

 

 

Other assets, net

 

 

266

 

Other liabilities

 

 

396

 

 

 

Total

 

$

3,112

 

Total

 

$

5,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final

July 31, 2019

 

 

Maturity

Asset Derivatives

 

Liability Derivatives

Derivative Instrument

    

Date

Location

    

Fair value

    

Location

    

Fair value

Derivatives designated as hedging instruments

 

December 2021

  

 

 

  

 

  

 

 

  

Commodity derivatives-propane

 

 

Prepaid expenses and other current assets

 

$

910

 

Other current liabilities

 

$

14,198

Commodity derivatives-propane

 

 

Other assets, net

 

 

349

 

Other liabilities

 

 

1,817

 

 

 

Total

 

$

1,259

 

Total

 

$

16,015

 

Offsetting Assets And Liabilities [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

July 31, 2020

 

 

Assets

 

Liabilities

Description

    

Location

    

Amount

    

Location

    

Amount

Margin Balances

 

Prepaid expense and other current assets

 

$

14,398

 

Other current liabilities

 

$

510

 

 

Other assets, net

 

 

1,433

 

Other liabilities

 

 

 —

 

 

 

 

$

15,831

 

  

 

$

510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 31, 2019

 

 

Assets

 

Liabilities

Description

    

Location

    

Amount

    

Location

    

Amount

Margin Balances

 

Prepaid expense and other current assets

 

$

25,028

 

Other current liabilities

 

$

1,217

 

 

Other assets, net

 

 

2,969

 

Other liabilities

 

 

 —

 

 

 

 

$

27,997

 

  

 

$

1,217

 

Fair Value Hedge Derivative Effect on Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Interest Expense

 

 

 

 

Amount of Gain Recognized on

 

Recognized on Fixed-Rated Debt

 

 

Location of Gain

 

Derivative

 

(Related Hedged Item)

 

    

Recognized on

    

For the year ended July 31, 

 

For the year ended July 31, 

Derivative Instrument

    

Derivative

    

2020

    

2019

    

2018

    

2020

    

2019

    

2018

Interest rate swap agreements

 

Interest expense

 

$

 —

 

$

 —

 

$

266

 

$

 —

 

$

 —

 

$

(6,825)

 

Cash Flow Hedge Derivative Effect on Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2020

 

    

 

 

    

 

    

Amount of Gain (Loss) 

 

 

Amount of Gain

 

Location of Gain (Loss)

 

Reclassified from

 

 

(Loss) Recognized in

 

Reclassified from 

 

AOCI into Income

Derivative Instrument

    

AOCI

    

AOCI into Income

    

Effective portion

    

Ineffective portion

Commodity derivatives

 

$

(22,872)

 

Cost of product sold- propane and other gas liquids sales

 

$

(35,315)

 

$

 —

 

 

$

(22,872)

 

 

 

$

(35,315)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2019

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

Amount of Gain (Loss)

 

Location of Gain (Loss)

 

Reclassified from

 

 

Recognized in

 

Reclassified from

 

AOCI into Income

Derivative Instrument

    

AOCI

    

AOCI into Income

    

Effective portion

    

Ineffective portion

Commodity derivatives

 

$

(48,184)

 

Cost of product sold- propane and other gas liquids sales

 

$

(12,868)

 

$

 —

 

 

$

(48,184)

 

 

 

$

(12,868)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2018

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

Amount of Gain (Loss)

 

Location of Gain (Loss)

 

Reclassified from

 

 

Recognized in

 

Reclassified from 

 

AOCI into Income

Derivative Instrument

    

AOCI

    

AOCI into Income

    

Effective portion

    

Ineffective portion

Commodity derivatives

 

$

30,231

 

Cost of sales-propane and other gas liquids sales

 

$

24,714

 

$

 —

Interest rate swap agreements

 

 

 —

 

 

 

 

(395)

 

 

 —

 

 

$

30,231

 

 

 

$

24,319

 

$

 —

 

Derivatives not designated as hedging instruments effect on earnings

 

 

 

 

 

 

 

 

For the year ended July 31, 2018

 

    

Amount of Gain (Loss)

    

Location of Gain (Loss) 

Derivatives Not Designated as Hedging Instruments

 

Recognized in Income

 

Reclassified in Income

Commodity derivatives - crude oil

 

$

(3,470)

 

Cost of sales - midstream operations

 

Changes in Derivatives Included in Accumulated Other Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 

Gains and losses on derivatives included in AOCI

    

2020

    

2019

    

2018

Beginning balance

 

$

(14,756)

 

$

20,560

 

$

14,648

Change in value of risk management commodity derivatives

 

 

(22,872)

 

 

(48,184)

 

 

30,231

Reclassification of (gains) losses on commodity hedges to cost of sales - propane and other gas liquids sales, net

 

 

35,315

 

 

12,868

 

 

(24,714)

Reclassification of losses on interest rate hedges to interest expense

 

 

 —

 

 

 —

 

 

395

Ending balance

 

$

(2,313)

 

$

(14,756)

 

$

20,560

 

Changes in Derivative Value Effect on Other Comprehensive Income Loss, pre-adoption

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 

Gains and losses on derivatives included in AOCI

    

2020

    

2019

    

2018

Beginning balance

 

$

(14,756)

 

$

20,560

 

$

14,648

Change in value of risk management commodity derivatives

 

 

(22,872)

 

 

(48,184)

 

 

30,231

Reclassification of (gains) losses on commodity hedges to cost of sales - propane and other gas liquids sales, net

 

 

35,315

 

 

12,868

 

 

(24,714)

Reclassification of losses on interest rate hedges to interest expense

 

 

 —

 

 

 —

 

 

395

Ending balance

 

$

(2,313)

 

$

(14,756)

 

$

20,560

 

Ferrellgas, L.P. [Member]  
Fair Value of Financial Derivatives Balance Sheet Locations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final

July 31, 2020

 

 

Maturity

Asset Derivatives

 

Liability Derivatives

Derivative Instrument

    

Date

Location

    

Fair value

    

Location

    

Fair value

Derivatives designated as hedging instruments

 

December 2021

 

 

 

 

 

 

 

 

 

Commodity derivatives-propane

 

 

Prepaid expenses and other current assets

 

$

2,846

 

Other current liabilities

 

$

5,029

Commodity derivatives-propane

 

 

Other assets, net

 

 

266

 

Other liabilities

 

 

396

 

 

 

Total

 

$

3,112

 

Total

 

$

5,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final

July 31, 2019

 

 

Maturity

Asset Derivatives

 

Liability Derivatives

Derivative Instrument

    

Date

Location

    

Fair value

    

Location

    

Fair value

Derivatives designated as hedging instruments

 

December 2021

 

 

 

 

 

 

 

 

 

Commodity derivatives-propane

 

 

Prepaid expenses and other current assets

 

$

910

 

Other current liabilities

 

$

14,198

Commodity derivatives-propane

 

 

Other assets, net

 

 

349

 

Other liabilities

 

 

1,817

 

 

 

Total

 

$

1,259

 

Total

 

$

16,015

 

Offsetting Assets And Liabilities [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

July 31, 2020

 

 

Assets

 

Liabilities

Description

    

Location

    

Amount

    

Location

    

Amount

Margin Balances

 

Prepaid expense and other current assets

 

$

14,398

 

Other current liabilities

 

$

510

 

 

Other assets, net

 

 

1,433

 

Other liabilities

 

 

 —

 

 

 

 

$

15,831

 

  

 

$

510

 

 

 

 

 

 

 

 

 

 

 

 

 

 

July 31, 2019

 

 

Assets

 

Liabilities

Description

    

Location

    

Amount

    

Location

    

Amount

Margin Balances

 

Prepaid expense and other current assets

 

$

25,028

 

Other current liabilities

 

$

1,217

 

 

Other assets, net

 

 

2,969

 

Other liabilities

 

 

 —

 

 

 

 

$

27,997

 

  

 

$

1,217

 

Fair Value Hedge Derivative Effect on Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of Interest Expense

 

 

Location of Gain

 

Amount of Gain Recognized on

 

Recognized on Fixed-Rated Debt

 

 

Recognized on

 

Derivative

 

(Related Hedged Item)

Derivative Instrument

 

Derivative

 

For the year ended July 31, 

 

For the year ended July 31, 

 

    

 

    

2020

    

2019

    

2018

    

2020

    

2019

    

2018

Interest rate swap agreements

 

Interest expense

 

$

 —

 

$

 —

 

$

266

 

$

 —

 

$

 —

 

$

(6,825)

 

Cash Flow Hedge Derivative Effect on Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2020

 

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

 

 

 

Location of Gain (Loss)

 

Reclassified from

 

 

Amount of Gain (Loss)

 

Reclassified from AOCI

 

AOCI into Income

Derivative Instrument

    

Recognized in AOCI

    

into Income

    

Effective portion

    

Ineffective portion

Commodity derivatives

 

$

(22,872)

    

Cost of product sold- propane and other gas liquids sales

 

$

(35,315)

 

$

 —

 

 

$

(22,872)

 

  

 

$

(35,315)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2019

 

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

 

 

 

Location of Gain (Loss)

 

Reclassified from

 

 

Amount of Gain (Loss)

 

Reclassified from AOCI

 

AOCI into Income

Derivative Instrument

    

Recognized in AOCI

    

into Income

    

Effective portion

    

Ineffective portion

Commodity derivatives

 

$

(48,184)

 

Cost of product sold- propane and other gas liquids sales

 

$

(12,868)

 

$

 —

 

 

$

(48,184)

 

 

 

$

(12,868)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 2018

 

 

 

 

 

 

 

Amount of Gain (Loss)

 

 

 

 

 

Location of Gain (Loss)

 

Reclassified from

 

 

Amount of Gain (Loss)

 

Reclassified from AOCI

 

AOCI into Income

Derivative Instrument

    

Recognized in AOCI

    

into Income

    

Effective portion

    

Ineffective portion

Commodity derivatives

 

$

30,231

 

Cost of sales-propane and other gas liquids sales

 

$

24,714

 

$

 —

Interest rate swap agreements

 

 

 —

 

 

 

 

(395)

 

 

 

 

 

$

30,231

 

 

 

$

24,319

 

$

 —

 

Derivatives not designated as hedging instruments effect on earnings

 

 

 

 

 

 

 

 

For the year ended July 31, 2018

 

 

Amount of Gain (Loss)

 

Location of Gain (Loss)

Derivatives Not Designated as Hedging Instruments

    

Recognized in Income

    

Reclassified in Income

Commodity derivatives - crude oil

 

$

(3,470)

 

Cost of sales - midstream operations

 

Changes in Derivatives Included in Accumulated Other Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 

Gains and losses on derivatives included in AOCI

    

2020

    

2019

    

2018

Beginning balance

 

$

(14,756)

 

$

20,560

 

$

14,648

Change in value of risk management commodity derivatives

 

 

(22,872)

 

 

(48,184)

 

 

30,231

Reclassification of (gains) losses on commodity hedges to cost of sales - propane and other gas liquids sales, net

 

 

35,315

 

 

12,868

 

 

(24,714)

Reclassification of losses on interest rate hedges to interest expense

 

 

 —

 

 

 —

 

 

395

Ending balance

 

$

(2,313)

 

$

(14,756)

 

$

20,560

 

Changes in Derivative Value Effect on Other Comprehensive Income Loss, pre-adoption

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended July 31, 

Gains and losses on derivatives included in AOCI

    

2020

    

2019

    

2018

Beginning balance

 

$

(14,756)

 

$

20,560

 

$

14,648

Change in value of risk management commodity derivatives

 

 

(22,872)

 

 

(48,184)

 

 

30,231

Reclassification of (gains) losses on commodity hedges to cost of sales - propane and other gas liquids sales, net

 

 

35,315

 

 

12,868

 

 

(24,714)

Reclassification of losses on interest rate hedges to interest expense

 

 

 —

 

 

 —

 

 

395

Ending balance

 

$

(2,313)

 

$

(14,756)

 

$

20,560