Supplemental Financial Statement Information

12 Months Ended

Jul. 31, 2014

Supplemental Financial Statement Information

Supplemental financial statement information

Inventories consist of the following:

	2014		2013
Propane gas and related products	$	121,111	$	94,946
Appliances, parts and supplies	24,858		22,170
Inventories	$	145,969	$	117,116

In addition to inventories on hand, Ferrellgas enters into contracts primarily to buy propane for supply procurement purposes. Most of these contracts have terms of less than one year and call for payment based on market prices at the date of delivery. All supply procurement fixed price contracts have terms of fewer than 36 months. As of July 31, 2014, Ferrellgas had committed, for supply procurement purposes, to take delivery of approximately 18.3 million gallons of propane at fixed prices.

Property, plant and equipment, net consist of the following:

	Estimated useful lives	2014		2013
Land	Indefinite	$	31,890	$	30,978
Land improvements	2-20	12,812		12,021
Buildings and improvements	20	68,492		67,050
Vehicles, including transport trailers	8-20	95,701		101,224
Bulk equipment and district facilities	5-30	109,739		107,835
Tanks, cylinders and customer equipment	2-30	772,402		767,365
Salt water disposal wells and related equipment	2-23	24,288		—
Computer and office equipment	2-5	116,265		117,718
Construction in progress	n/a	7,029		3,077
		1,238,618		1,207,268
Less: accumulated depreciation		626,831		617,541
Property, plant and equipment, net		$	611,787	$	589,727

Depreciation expense totaled $58.3 million, $59.3 million and $60.0 million for fiscal 2014, 2013 and 2012, respectively.

Other current liabilities consist of the following:

	2014		2013
Accrued interest	$	12,182	$	19,795
Accrued payroll	37,120		30,295
Customer deposits and advances	25,412		20,420
Other	50,447		50,592
Other current liabilities	$	125,161	$	121,102

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

	For the year ended July 31,
	2014		2013		2012
Operating expense	$	190,999	$	181,932	$	177,903
Depreciation and amortization expense	5,829		5,744		6,545
Equipment lease expense	15,807		14,028		12,841
	$	212,635	$	201,704	$	197,289

Ferrellgas, L.P. [Member]

Supplemental Financial Statement Information

Supplemental financial statement information

Inventories consist of the following:

	2014		2013
Propane gas and related products	$	121,111	$	94,946
Appliances, parts and supplies	24,858		22,170
Inventories	$	145,969	$	117,116

In addition to inventories on hand, Ferrellgas, L.P. enters into contracts primarily to buy propane for supply procurement purposes. Most of these contracts have terms of less than one year and call for payment based on market prices at the date of delivery. All supply procurement fixed price contracts have terms of fewer than 36 months. As of July 31, 2014, Ferrellgas, L.P. had committed, for supply procurement purposes, to take delivery of approximately 18.3 million gallons of propane at fixed prices.

Property, plant and equipment, net consist of the following:

	Estimated useful lives	2014		2013
Land	Indefinite	$	31,890	$	30,978
Land improvements	2-20	12,812		12,021
Buildings and improvements	20	68,492		67,050
Vehicles, including transport trailers	8-20	95,701		101,224
Bulk equipment and district facilities	5-30	109,739		107,835
Tanks, cylinders and customer equipment	2-30	772,402		767,365
Salt water disposal wells and related equipment	2-23	24,288		—
Computer and office equipment	2-5	116,265		117,718
Construction in progress	n/a	7,029		3,077
		1,238,618		1,207,268
Less: accumulated depreciation		626,831		617,541
Property, plant and equipment, net		$	611,787	$	589,727

Depreciation expense totaled $58.3 million, $59.3 million and $60.0 million for fiscal 2014, 2013 and 2012, respectively.

Other current liabilities consist of the following:

	2014		2013
Accrued interest	$	10,176	$	17,787
Accrued payroll	37,120		30,295
Customer deposits and advances	25,412		20,420
Other	50,445		50,401
Other current liabilities	$	123,153	$	118,903

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

	For the year ended July 31,
	2014		2013		2012
Operating expense	$	190,999	$	181,932	$	177,903
Depreciation and amortization expense	5,829		5,744		6,545
Equipment lease expense	15,807		14,028		12,841
	$	212,635	$	201,704	$	197,289