Guarantor financial information (Tables) - Ferrellgas, L.P. [Member]

3 Months Ended

Oct. 31, 2017

Condensed Financial Statements, Captions [Line Items]



FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
	As of October 31, 2017
	Ferrellgas, L.P. (Parent and Co-Issuer)			Ferrellgas Finance Corp. (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	6,852		$	1	$	245		$	—		$	—		$	7,098
Accounts and notes receivable	(2,343		)	—		60,692			133,079			—			191,428
Intercompany receivables	40,190			—		—			—			(40,190		)	—
Inventories	90,812			—		21,526			—			—			112,338
Prepaid expenses and other current assets	61,140			—		6,909			6			—			68,055
Total current assets	196,651			1		89,372			133,085			(40,190		)	378,919

Property, plant and equipment, net	547,489			—		191,240			—			—			738,729
Goodwill	246,098			—		10,005			—			—			256,103
Intangible assets, net	131,322			—		119,307			—			—			250,629
Intercompany receivables	450,000			—		—			—			(450,000		)	—
Investments in consolidated subsidiaries	(48,341		)	—		—			—			48,341			—
Other assets, net	39,918			—		40,136			505			—			80,559
Total assets	$	1,563,137		$	1	$	450,060		$	133,590		$	(441,849	)	$	1,704,939

LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Current liabilities:
Accounts payable	$	56,610		$	—	$	42,167		$	421		$	—		$	99,198
Short-term borrowings	263,200			—		—			—			—			263,200
Collateralized note payable	—			—		—			88,000			—			88,000
Intercompany payables	—			—		42,952			(2,762		)	(40,190		)	—
Other current liabilities	182,794			—		6,238			229			—			189,261
Total current liabilities	502,604			—		91,357			85,888			(40,190		)	639,659

Long-term debt	1,464,344			—		450,085			—			(450,000		)	1,464,429
Other liabilities	30,137			—		4,662			—			—			34,799
Contingencies and commitments

Partners' capital (deficit):
Partners' equity	(467,212		)	1		(96,044		)	47,702			48,341			(467,212		)
Accumulated other comprehensive income	33,264			—		—			—			—			33,264
Total partners' capital (deficit)	(433,948		)	1		(96,044		)	47,702			48,341			(433,948		)
Total liabilities and partners' capital (deficit)	$	1,563,137		$	1	$	450,060		$	133,590		$	(441,849	)	$	1,704,939



FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
	As of July 31, 2017
	Ferrellgas, L.P. (Parent and Co-Issuer)			Ferrellgas Finance Corp. (Co-Issuer)		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	5,327		$	1	$	373		$	—		$	—		$	5,701
Accounts and notes receivable	(3,132		)	—		58,618			109,598			—			165,084
Intercompany receivables	39,877			—		—			—			(39,877		)	—
Inventories	78,963			—		13,589			—			—			92,552
Prepaid expenses and other current assets	26,106			—		7,314			6			—			33,426
Total current assets	147,141			1		79,894			109,604			(39,877		)	296,763

Property, plant and equipment, net	537,582			—		194,341			—			—			731,923
Goodwill	246,098			—		10,005			—			—			256,103
Intangible assets, net	128,209			—		122,893			—			—			251,102
Intercompany receivables	450,000			—		—			—			(450,000		)	—
Investments in consolidated subsidiaries	(53,915		)	—		—			—			53,915			—
Other assets, net	35,862			—		37,618			577			—			74,057
Total assets	$	1,490,977		$	1	$	444,751		$	110,181		$	(435,962	)	$	1,609,948

LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Current liabilities:
Accounts payable	$	44,026		$	—	$	41,345		$	190		$	—		$	85,561
Short-term borrowings	59,781			—		—			—			—			59,781
Collateralized note payable	—			—		—			69,000			—			69,000
Intercompany payables	—			—		41,645			(1,768		)	(39,877		)	—
Other current liabilities	118,039			—		3,776			201			—			122,016
Total current liabilities	221,846			—		86,766			67,623			(39,877		)	336,358

Long-term debt	1,649,139			—		450,131			—			(450,000		)	1,649,270
Other liabilities	26,790			—		4,300			28			—			31,118
Contingencies and commitments

Partners' capital (deficit):
Partners' equity	(421,562		)	1		(96,446		)	42,530			53,915			(421,562		)
Accumulated other comprehensive income	14,764			—		—			—			—			14,764
Total partners' capital (deficit)	(406,798		)	1		(96,446		)	42,530			53,915			(406,798		)
Total liabilities and partners' capital (deficit)	$	1,490,977		$	1	$	444,751		$	110,181		$	(435,962	)	$	1,609,948

Condensed Consolidated Statements of Earnings



FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(in thousands)

	For the three months ended October 31, 2017
	Ferrellgas, L.P. (Parent and Co-Issuer)			Ferrellgas Finance Corp. (Co-Issuer)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated

Revenues:
Propane and other gas liquids sales	$	302,117		$	—		$	641		$	—		$	—		$	302,758
Midstream operations	—			—			120,760			—			—			120,760
Other	16,677			—			14,460			—			—			31,137
Total revenues	318,794			—			135,861			—			—			454,655

Costs and expenses:
Cost of sales - propane and other gas liquids sales	178,819			—			696			—			—			179,515
Cost of sales - midstream operations	—			—			108,125			—			—			108,125
Cost of sales - other	2,709			—			10,993			—			—			13,702
Operating expense	101,232			—			9,263			1,182			(1,215		)	110,462
Depreciation and amortization expense	18,347			—			7,313			72			—			25,732
General and administrative expense	10,755			2			2,407			—			—			13,164
Equipment lease expense	6,648			—			93			—			—			6,741
Non-cash employee stock ownership plan compensation charge	3,962			—			—			—			—			3,962
Loss on asset sales and disposal	908			—			(13		)	—			—			895

Operating income (loss)	(4,586		)	(2		)	(3,016		)	(1,254		)	1,215			(7,643		)

Interest expense	(20,394		)	—			(11,185		)	(617		)	—			(32,196		)
Other income (expense), net	215			—			296			1,215			(1,215		)	511

Loss before income taxes	(24,765		)	(2		)	(13,905		)	(656		)	—			(39,328		)

Income tax (benefit) expense	(10		)	—			381			—			—			371
Equity in earnings (loss) of subsidiary	(14,944		)	—			—			—			14,944			—

Net earnings (loss)	(39,699		)	(2		)	(14,286		)	(656		)	14,944			(39,699		)

Other comprehensive loss	18,500			—			—			—			—			18,500

Comprehensive income (loss)	$	(21,199	)	$	(2	)	$	(14,286	)	$	(656	)	$	14,944		$	(21,199	)



FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(in thousands)

	For the three months ended October 31, 2016
	Ferrellgas, L.P. (Parent and Co-Issuer)			Ferrellgas Finance Corp. (Co-Issuer)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated

Revenues:
Propane and other gas liquids sales	$	242,399		$	—		$	—		$	—		$	—		$	242,399
Midstream operations	—			—			108,044			—			—			108,044
Other	17,326			—			11,773			—			—			29,099
Total revenues	259,725			—			119,817			—			—			379,542

Costs and expenses:
Cost of sales - propane and other gas liquids sales	119,212			—			—			—			—			119,212
Cost of sales - midstream operations	—			—			94,642			—			—			94,642
Cost of sales - other	2,430			—			9,316			—			—			11,746
Operating expense	97,655			—			10,246			(2,105		)	(710		)	105,086
Depreciation and amortization expense	18,277			—			7,872			53			—			26,202
General and administrative expense	12,863			2			1,404			—			—			14,269
Equipment lease expense	7,210			—			139			—			—			7,349
Non-cash employee stock ownership plan compensation charge	3,754			—			—			—			—			3,754
Loss on asset sales and disposal	1,447			—			4,976			—			—			6,423

Operating income (loss)	(3,123		)	(2		)	(8,778		)	2,052			710			(9,141		)

Interest expense	(20,352		)	—			(10,673		)	(370		)	(3		)	(31,398		)
Other income (expense), net	(47		)	—			555			707			(707		)	508

Earnings (loss) before income taxes	(23,522		)	(2		)	(18,896		)	2,389			—			(40,031		)

Income tax benefit	(29		)	—			(562		)	—			—			(591		)
Equity in earnings (loss) of subsidiary	(15,947		)	—			—			—			15,947			—

Net earnings (loss)	(39,440		)	(2		)	(18,334		)	2,389			15,947			(39,440		)

Other comprehensive income	9,376			—			—			—			—			9,376

Comprehensive income (loss)	$	(30,064	)	$	(2	)	$	(18,334	)	$	2,389		$	15,947		$	(30,064	)

Condensed Consolidated Statements of Cash Flows



FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)

	For the three months ended October 31, 2017
	Ferrellgas, L.P. (Parent and Co-Issuer)			Ferrellgas Finance Corp. (Co-Issuer)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	23,305		$	(2	)	$	(22,294	)	$	25,981		$	(19,000	)	$	7,990

Cash flows from investing activities:
Business acquisitions, net of cash acquired	(13,867		)	—			—			—			—			(13,867		)
Capital expenditures	(19,429		)	—			(725		)	—			—			(20,154		)
Proceeds from sale of assets	1,208			—			—			—			—			1,208
Cash collected for purchase of interest in accounts receivable	—			—			—			203,291			(203,291		)	—
Cash remitted to Ferrellgas, L.P. for accounts receivable	—			—			—			(222,291		)	222,291			—
Net changes in advances with consolidated entities	3,088			—			—			—			(3,088		)	—
Net cash used in investing activities	(29,000		)	—			(725		)	(19,000		)	15,912			(32,813		)

Cash flows from financing activities:
Distributions	(9,913		)	—			—			—			—			(9,913		)
Proceeds from issuance of long-term debt	23,580			—			—			—			—			23,580
Payments on long-term debt	(281		)	—			—			—			—			(281		)
Net reductions in short-term borrowings	(5,879		)	—			—			—			—			(5,879		)
Net additions to collateralized short-term borrowings	—			—			—			19,000			—			19,000
Net changes in advances with parent	—			2			22,891			(25,981		)	3,088			—
Cash paid for financing costs	(287		)	—			—			—			—			(287		)
Net cash provided by (used in) financing activities	7,220			2			22,891			(6,981		)	3,088			26,220

Increase (decrease) in cash and cash equivalents	1,525			—			(128		)	—			—			1,397
Cash and cash equivalents - beginning of period	5,327			1			373			—			—			5,701
Cash and cash equivalents - end of period	$	6,852		$	1		$	245		$	—		$	—		$	7,098



FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)

	For the three months ended October 31, 2016
	Ferrellgas, L.P. (Parent and Co-Issuer)			Ferrellgas Finance Corp. (Co-Issuer)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	79,220		$	(2	)	$	(15,354	)	$	687		$	(10,000	)	$	54,551

Cash flows from investing activities:
Capital expenditures	(10,000		)	—			(5		)	—			—			(10,005		)
Proceeds from sale of assets	2,279			—			—			—			—			2,279
Cash collected for purchase of interest in accounts receivable	—			—			—			183,939			(183,939		)	—
Cash remitted to Ferrellgas, L.P. for accounts receivable	—			—			—			(193,939		)	193,939			—
Net changes in advances with consolidated entities	(14,453		)	—			—			—			14,453			—
Net cash provided by (used in) investing activities	(22,174		)	—			(5		)	(10,000		)	24,453			(7,726		)

Cash flows from financing activities:
Distributions	(66,658		)	—			—			—			—			(66,658		)
Proceeds from issuance of long-term debt	25,626			—			—			—			—			25,626
Payments on long-term debt	(2,261		)	—			—			—			—			(2,261		)
Net reductions in short-term borrowings	(4,467		)	—			—			—			—			(4,467		)
Net additions to collateralized short-term borrowings	—			—			—			10,000			—			10,000
Net changes in advances with parent	—			2			15,138			(687		)	(14,453		)	—
Cash paid for financing costs	(1,390		)	—			—			—			—			(1,390		)
Net cash provided by (used in) financing activities	(49,150		)	2			15,138			9,313			(14,453		)	(39,150		)

Increase (decrease) in cash and cash equivalents	7,896			—			(221		)	—			—			7,675
Cash and cash equivalents - beginning of period	4,472			1			417			—			—			4,890
Cash and cash equivalents - end of period	$	12,368		$	1		$	196		$	—		$	—		$	12,565