Supplemental financial statement information

3 Months Ended

Oct. 31, 2023

Supplemental financial statement information

Supplemental financial statement information

C.    Supplemental financial statement information

Inventories

Inventories consist of the following:

	October 31, 2023		July 31, 2023
Propane gas and related products	$	84,935	$	76,996
Appliances, parts and supplies, and other		20,894		21,108
Inventories	$	105,829	$	98,104

In addition to inventories on hand, Ferrellgas enters into contracts to take delivery of propane for supply procurement purposes with terms that generally do not exceed 36 months. Most of these contracts call for payment based on market prices at the date of delivery. As of October 31, 2023, Ferrellgas had committed, for supply procurement purposes, to deliver approximately 2.4 million gallons of propane at net fixed prices.

Prepaid expenses and other current assets

Ferrellgas Partners

Prepaid expenses and other current assets consist of the following:

	October 31, 2023		July 31, 2023
Broker margin deposit assets	$	13,918	$	11,939
Other		29,107		17,196
Prepaid expenses and other current assets	$	43,025	$	29,135

The operating partnership

Prepaid expenses and other current assets consist of the following:

	October 31, 2023		July 31, 2023
Broker margin deposit assets	$	13,918	$	11,939
Other		29,086		17,174
Prepaid expenses and other current assets	$	43,004	$	29,113

Other current liabilities

Ferrellgas Partners

Other current liabilities consist of the following:

	October 31, 2023		July 31, 2023
Accrued interest	$	7,277	$	29,011
Customer deposits and advances		43,496		36,226
Accrued payroll		20,315		35,075
Accrued insurance		16,476		15,256
Broker margin deposit liability		2,424		6,972
Accrued senior preferred units distributions		17,964		17,452
Other		67,289		57,038
Other current liabilities	$	175,241	$	197,030

The operating partnership

Other current liabilities consist of the following:

	October 31, 2023		July 31, 2023
Accrued interest	$	7,277	$	29,011
Customer deposits and advances		43,496		36,226
Accrued payroll		20,315		35,075
Accrued insurance		16,476		15,256
Broker margin deposit liability		2,424		6,972
Accrued senior preferred units distributions		17,964		17,452
Other		67,206		56,974
Other current liabilities	$	175,158	$	196,966

Shipping and handling expenses

Shipping and handling expenses are classified in the following condensed consolidated statements of operations line items:

	For the three months ended October 31,
	2023		2022
Operating expense - personnel, vehicle, plant and other	$	73,969	$	64,172
Depreciation and amortization expense		3,366		3,837
Operating expense - equipment lease expense		3,436		3,754
Shipping and handling expenses	$	80,771	$	71,763

Cash, cash equivalents and restricted cash

For purposes of the condensed consolidated statements of cash flows, Ferrellgas considers cash equivalents to include all highly liquid debt instruments purchased with an original maturity of three months or less. Restricted cash in the tables below as of October 31, 2023 and July 31, 2023 consists of the balance of a cash deposit made with the administrative agent under the operating partnership’s senior secured credit facility that was terminated in April 2020, which may be used by the administrative agent to pay contingent obligations arising under the financing agreement that governed the terminated senior secured credit facility.

Ferrellgas Partners

Cash, cash equivalents and restricted cash consist of the following:

	October 31, 2023		July 31, 2023
Cash and cash equivalents	$	65,994	$	126,221
Restricted cash		10,789		11,126
Cash, cash equivalents and restricted cash	$	76,783	$	137,347

The operating partnership

Cash, cash equivalents and restricted cash consist of the following:

	October 31, 2023		July 31, 2023
Cash and cash equivalents	$	65,890	$	126,119
Restricted cash		10,789		11,126
Cash, cash equivalents and restricted cash	$	76,679	$	137,245

Certain cash flow and non-cash activities

Certain cash flow and significant non-cash activities are presented below:

Ferrellgas Partners

	For the three months ended October 31,
	2023		2022
Cash paid for:
Interest	$	43,817	$	43,343
Income taxes	$	103	$	49
Non-cash investing and financing activities:
Liabilities incurred in connection with acquisitions	$	—	$	2,007
Change in accruals for property, plant and equipment additions	$	56	$	(172)
Lease liabilities arising from operating ROU assets	$	5,078	$	1,140
Lease liabilities arising from finance ROU assets	$	1,397	$	—
Accrued senior preferred units distributions	$	17,964	$	16,251

The operating partnership

	For the three months ended October 31,
	2023		2022
Cash paid for:
Interest	$	43,817	$	43,343
Income taxes	$	85	$	49
Non-cash investing and financing activities:
Liabilities incurred in connection with acquisitions	$	—	$	2,007
Change in accruals for property, plant and equipment additions	$	56	$	(172)
Lease liabilities arising from operating ROU assets	$	5,078	$	1,140
Lease liabilities arising from finance ROU assets	$	1,397	$	—
Accrued senior preferred units distributions	$	17,964	$	16,251