Segment Reporting Segment Reporting (Tables)

9 Months Ended

Apr. 30, 2018

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,
	2018			2017			2018			2017
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	$	10,861		$	6,536		$	(38,897	)	$	1,561
Income tax expense (benefit)	67			(192		)	282			(194		)
Interest expense	40,375			39,860			123,855			112,107
Depreciation and amortization expense	25,348			25,737			76,565			77,546
EBITDA	76,651			71,941			161,805			191,020
Non-cash employee stock ownership plan compensation charge	2,738			4,697			10,731			11,396
Non-cash stock-based compensation charge	—			—			—			3,298
Asset impairments	—			—			10,005			—
Loss on asset sales and disposals	6,270			2,393			46,414			8,861
Other income, net	(227		)	(162		)	(1,422		)	(1,433		)
Severance costs	—			—			1,663			1,959
Professional fees	1,289			—			3,407			—
Unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments	—			(2,234		)	1,293			(4,449		)
Net earnings (loss) attributable to noncontrolling interest	201			155			(131		)	187
Adjusted EBITDA	$	86,922		$	76,790		$	233,765		$	210,839

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:



Assets	April 30, 2018		July 31, 2017
Propane operations and related equipment sales	$	1,274,360	$	1,194,905
Midstream operations	244,523		399,356
Corporate	13,693		15,708
Total consolidated assets	$	1,532,576	$	1,609,969

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, 2018 and 2017:



	Three months ended April 30, 2018
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	493,215	$	22,595		$	—		$	515,810
Direct costs (1)	397,568		21,593			9,727			428,888
Adjusted EBITDA	$	95,647	$	1,002		$	(9,727	)	$	86,922

	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

	Nine months ended April 30, 2018
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	1,464,990	$	260,631		$	—		$	1,725,621
Direct costs (1)	1,208,283		250,423			33,150			1,491,856
Adjusted EBITDA	$	256,707	$	10,208		$	(33,150	)	$	233,765

	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

(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 , "severance charge", "professional fees", and "unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments".

Capital Expenditures [Member]

Segment Reporting Information

Schedule of Segment Reporting Information, by Segment

Following are capital expenditures by segment:



	Nine months ended April 30, 2018
	Propane operations and related equipment sales		Midstream operations		Corporate		Total
Capital expenditures:
Maintenance	$	17,556	$	210	$	1,492	$	19,258
Growth	34,784		1,265		—		36,049
Total	$	52,340	$	1,475	$	1,492	$	55,307


	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

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,
	2018			2017			2018			2017
Net earnings (loss)	$	19,840		$	15,395		$	(13,012	)	$	18,555
Income tax expense (benefit)	57			(197		)	261			(200		)
Interest expense	31,739			31,270			97,993			95,416
Depreciation and amortization expense	25,348			25,737			76,565			77,546
EBITDA	76,984			72,205			161,807			191,317
Non-cash employee stock ownership plan compensation charge	2,738			4,697			10,731			11,396
Non-cash stock-based compensation charge	—			—			—			3,298
Asset impairments	—			—			10,005			—
Loss on asset sales and disposals	6,270			2,393			46,414			8,861
Other income, net	(227		)	(162		)	(1,422		)	(1,433		)
Severance costs	—			—			1,663			1,959
Professional fees	1,289			—			3,407			—
Unrealized (non-cash) loss (gain) on changes in fair value of derivatives not designated as hedging instruments	—			(2,234		)	1,293			(4,449		)
Adjusted EBITDA	$	87,054		$	76,899		$	233,898		$	210,949

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:



Assets	April 30, 2018		July 31, 2017
Propane operations and related equipment sales	$	1,274,360	$	1,194,905
Midstream operations	244,523		399,356
Corporate	13,654		15,687
Total consolidated assets	$	1,532,537	$	1,609,948

Ferrellgas, L.P. [Member] | 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, 2018 and 2017:



	Three months ended April 30, 2018
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	493,215	$	22,595		$	—		$	515,810
Direct costs (1)	397,568		21,593			9,595			428,756
Adjusted EBITDA	$	95,647	$	1,002		$	(9,595	)	$	87,054

	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

	Nine months ended April 30, 2018
	Propane operations and related equipment sales		Midstream operations			Corporate			Total
Segment revenues	$	1,464,990	$	260,631		$	—		$	1,725,621
Direct costs (1)	1,208,283		250,423			33,017			1,491,723
Adjusted EBITDA	$	256,707	$	10,208		$	(33,017	)	$	233,898

	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

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

Segment Reporting Information

Schedule of Segment Reporting Information, by Segment

Following are capital expenditures by segment:



	Nine months ended April 30, 2018
	Propane operations and related equipment sales		Midstream operations		Corporate		Total
Capital expenditures:
Maintenance	$	17,556	$	210	$	1,492	$	19,258
Growth	34,784		1,265		—		36,049
Total	$	52,340	$	1,475	$	1,492	$	55,307


	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