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Derivative Instruments and Hedging Activities (Tables)
3 Months Ended
Oct. 31, 2020
Fair Value of Financial Derivatives Balance Sheet Locations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final

October 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

 

$

6,656

 

Other current liabilities

 

$

1,506

Commodity derivatives-propane

 

 

Other assets, net

 

 

505

 

Other liabilities

 

 

51

 

 

 

Total

 

$

7,161

 

Total

 

$

1,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Offsetting Assets And Liabilities [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

October 31, 2020

 

 

Assets

 

Liabilities

Description

    

Location

    

Amount

    

Location

    

Amount

Margin Balances

 

Prepaid expense and other current assets

 

$

9,381

 

Other current liabilities

 

$

5,768

 

 

Other assets, net

 

 

544

 

Other liabilities

 

 

483

 

 

 

 

$

9,925

 

  

 

$

6,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Cash Flow Hedge Derivative Effect on Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended October 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

 

$

5,767

 

Cost of product sold- propane and other gas liquids sales

 

$

(2,150)

 

$

 —

 

 

$

5,767

 

 

 

$

(2,150)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended October 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

 

$

(13,627)

 

Cost of product sold- propane and other gas liquids sales

 

$

(7,479)

 

$

 —

 

 

$

(13,627)

 

 

 

$

(7,479)

 

$

 —

 

Changes in Derivatives Included in Accumulated Other Comprehensive Income

 

 

 

 

 

 

 

 

 

For the three months ended October 31, 

Gains and losses on derivatives included in AOCI

    

2020

    

2019

Beginning balance

 

$

(2,313)

 

$

(14,756)

Change in value of risk management commodity derivatives

 

 

5,767

 

 

(13,627)

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

 

 

2,150

 

 

7,479

Ending balance

 

$

5,604

 

$

(20,904)

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Final

October 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

 

$

6,656

 

Other current liabilities

 

$

1,506

Commodity derivatives-propane

 

 

Other assets, net

 

 

505

 

Other liabilities

 

 

51

 

 

 

Total

 

$

7,161

 

Total

 

$

1,557

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Offsetting Assets And Liabilities [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

October 31, 2020

 

 

Assets

 

Liabilities

Description

    

Location

    

Amount

    

Location

    

Amount

Margin Balances

 

Prepaid expense and other current assets

 

$

9,381

 

Other current liabilities

 

$

5,768

 

 

Other assets, net

 

 

544

 

Other liabilities

 

 

483

 

 

 

 

$

9,925

 

  

 

$

6,251

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

Cash Flow Hedge Derivative Effect on Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended October 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

 

$

5,767

    

Cost of product sold- propane and other gas liquids sales

 

$

(2,150)

 

$

 —

 

 

$

5,767

 

  

 

$

(2,150)

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended October 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

 

$

(13,627)

 

Cost of product sold- propane and other gas liquids sales

 

$

(7,479)

 

$

 —

 

 

$

(13,627)

 

 

 

$

(7,479)

 

$

 —

 

Changes in Derivatives Included in Accumulated Other Comprehensive Income

 

 

 

 

 

 

 

 

 

For the three months ended October 31, 

Gains and losses on derivatives included in AOCI

    

2020

    

2019

Beginning balance

 

$

(2,313)

 

$

(14,756)

Change in value of risk management commodity derivatives

 

 

5,767

 

 

(13,627)

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

 

 

2,150

 

 

7,479

Ending balance

 

$

5,604

 

$

(20,904)