Segment Reporting Segment Reporting (Tables)

9 Months Ended

Apr. 30, 2017

Segment Reporting Information

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Following is a reconciliation of Ferrellgas' total segment performance measure to condensed consolidated net earnings (loss):

	Three months ended April 30,						Nine months ended April 30,
	2017			2016			2017			2016
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	$	6,536		$	18,685		$	1,561		$	(3,981	)
Income tax expense (benefit)	(192		)	1,260			(194		)	1,446
Interest expense	39,860			34,371			112,107			102,889
Depreciation and amortization expense	25,737			38,352			77,546			112,698
EBITDA	71,941			92,668			191,020			213,052
Non-cash employee stock ownership plan compensation charge	4,697			9,978			11,396			18,375
Non-cash stock-based compensation charge	—			1,091			3,298			6,757
Asset impairments	—			—			—			29,316
Loss on asset sales and disposal	2,393			5,779			8,861			23,220
Other (income) expense, net	(162		)	(331		)	(1,433		)	89
Change in fair value of contingent consideration	—			—			—			(100		)
Severance costs	—			469			1,959			1,325
Unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments	(2,234		)	(1,915		)	(4,449		)	2,993
Acquisition and transition expenses	—			14			—			99
Net earnings attributable to noncontrolling interest	155			233			187			88
Adjusted EBITDA	$	76,790		$	107,986		$	210,839		$	295,214

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:

Assets	April 30, 2017		July 31, 2016
Propane operations and related equipment sales	$	1,233,364	$	1,202,214
Midstream operations	428,812		444,126
Corporate and unallocated	17,093		36,966
Total consolidated assets	$	1,679,269	$	1,683,306

Ferrellgas, L.P. [Member]

Segment Reporting Information

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Following is a reconciliation of Ferrellgas, L.P.'s total segment performance measure to condensed consolidated net earnings (loss):

	Three months ended April 30,						Nine months ended April 30,
	2017			2016			2017			2016
Net earnings (loss)	$	15,395		$	23,049		$	18,555		$	8,700
Income tax expense (benefit)	(197		)	1,260			(200		)	1,441
Interest expense	31,270			30,340			95,416			90,799
Depreciation and amortization expense	25,737			38,352			77,546			112,698
EBITDA	72,205			93,001			191,317			213,638
Non-cash employee stock ownership plan compensation charge	4,697			9,978			11,396			18,375
Non-cash stock-based compensation charge	—			1,091			3,298			6,757
Asset impairments	—			—			—			29,316
Loss on asset sales and disposal	2,393			5,779			8,861			23,220
Other (income) expense, net	(162		)	(331		)	(1,433		)	89
Change in fair value of contingent consideration	—			—			—			(100		)
Severance costs	—			469			1,959			1,325
Unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments	(2,234		)	(1,915		)	(4,449		)	2,993
Acquisition and transition expenses	—			14			—			99
Adjusted EBITDA	$	76,899		$	108,086		$	210,949		$	295,712

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:

Assets	April 30, 2017		July 31, 2016
Propane operations and related equipment sales	$	1,233,364	$	1,202,214
Midstream operations	428,812		444,126
Corporate and unallocated	16,739		36,873
Total consolidated assets	$	1,678,915	$	1,683,213

Profit Measure [Member]

Segment Reporting Information

Schedule of Segment Reporting Information, by Segment

Following is a summary of segment information for the three and nine months ended April 30, 2017 and 2016:

	Three months ended April 30, 2017
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	411,433	$	126,676		$	—		$	538,109
Direct costs (1)	324,442		127,223			9,654			461,319
Adjusted EBITDA	$	86,991	$	(547	)	$	(9,654	)	$	76,790
	Three months ended April 30, 2016
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	404,048	$	105,424		$	—		$	509,472
Direct costs (1)	307,708		82,094			11,684			401,486
Adjusted EBITDA	$	96,340	$	23,330		$	(11,684	)	$	107,986
	Nine months ended April 30, 2017
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	1,165,394	$	331,507		$	—		$	1,496,901
Direct costs (1)	931,631		323,714			30,717			1,286,062
Adjusted EBITDA	$	233,763	$	7,793		$	(30,717	)	$	210,839
	Nine months ended April 30, 2016
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	1,142,429	$	487,427		$	—		$	1,629,856
Direct costs (1)	888,380		411,973			34,289			1,334,642
Adjusted EBITDA	$	254,049	$	75,454		$	(34,289	)	$	295,214

(1) Direct costs are comprised of "cost of products sold-propane and other gas liquids sales", "cost of products sold-midstream operations", "cost of products sold-other", "operating expense", "general and administrative expense", and "equipment lease expense" less "non-cash stock-based compensation charge", "change in fair value of contingent consideration", "severance charge", "litigation accrual and related legal fees associated with a class action lawsuit", "unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments" and "acquisition and transition expenses".

Profit Measure [Member] | Ferrellgas, L.P. [Member]

Segment Reporting Information

Schedule of Segment Reporting Information, by Segment

Following is a summary of segment information for the three and nine months ended April 30, 2017 and 2016:

	Three months ended April 30, 2017
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	411,433	$	126,676		$	—		$	538,109
Direct costs (1)	324,442		127,223			9,545			461,210
Adjusted EBITDA	$	86,991	$	(547	)	$	(9,545	)	$	76,899
	Three months ended April 30, 2016
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	404,048	$	105,424		$	—		$	509,472
Direct costs (1)	307,708		82,094			11,584			401,386
Adjusted EBITDA	$	96,340	$	23,330		$	(11,584	)	$	108,086
	Nine months ended April 30, 2017
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	1,165,394	$	331,507		$	—		$	1,496,901
Direct costs (1)	931,631		323,714			30,607			1,285,952
Adjusted EBITDA	$	233,763	$	7,793		$	(30,607	)	$	210,949
	Nine months ended April 30, 2016
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	1,142,429	$	487,427		$	—		$	1,629,856
Direct costs (1)	888,380		411,973			33,791			1,334,144
Adjusted EBITDA	$	254,049	$	75,454		$	(33,791	)	$	295,712

(1) Direct costs are comprised of "cost of sales-propane and other gas liquids sales", "cost of products sold-midstream operations", "cost of products sold-other", "operating expense", "general and administrative expense", and "equipment lease expense" less "non-cash stock-based compensation charge", "change in fair value of contingent consideration", "severance charge", "litigation accrual and related legal fees associated with a class action lawsuit", "unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments" and "acquisition and transition expenses".

Capital Expenditures [Member]

Segment Reporting Information

Schedule of Segment Reporting Information, by Segment

Following are capital expenditures by segment:

	Nine months ended April 30, 2017
	Propane operations and related equipment sales		Midstream operations		Corporate		Total
Capital expenditures:
Maintenance	$	8,533	$	241	$	1,905	$	10,679
Growth	21,246		—		—		21,246
Total	$	29,779	$	241	$	1,905	$	31,925
	Nine months ended April 30, 2016
	Propane operations and related equipment sales		Midstream operations		Corporate		Total
Capital expenditures:
Maintenance	$	12,705	$	32	$	991	$	13,728
Growth	28,461		62,868		—		91,329
Total	$	41,166	$	62,900	$	991	$	105,057

Capital Expenditures [Member] | Ferrellgas, L.P. [Member]

Segment Reporting Information

Schedule of Segment Reporting Information, by Segment

Following are capital expenditures by segment:

	Nine months ended April 30, 2017
	Propane operations and related equipment sales		Midstream operations		Corporate		Total
Capital expenditures:
Maintenance	$	8,533	$	241	$	1,905	$	10,679
Growth	21,246		—		—		21,246
Total	$	29,779	$	241	$	1,905	$	31,925
	Nine months ended April 30, 2016
	Propane operations and related equipment sales		Midstream operations		Corporate		Total
Capital expenditures:
Maintenance	$	12,705	$	32	$	991	$	13,728
Growth	28,461		62,868		—		91,329
Total	$	41,166	$	62,900	$	991	$	105,057