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

9 Months Ended

Apr. 30, 2018

Condensed Financial Statements, Captions [Line Items]

Condensed Consolidated Balance Sheets

FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
(in thousands)
	As of April 30, 2018
	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	$	9,126		$	1	$	364		$	—	$	—		$	9,491
Accounts and notes receivable, net	(3,346		)	—		23,493			182,580		—			202,727
Intercompany receivables	65,801			—		—			—		(65,801		)	—
Inventories	70,893			—		14,169			—		—			85,062
Prepaid expenses and other current assets	31,167			—		12,890			2		—			44,059
Total current assets	173,641			1		50,916			182,582		(65,801		)	341,339
Property, plant and equipment, net	552,551			—		85,137			—		—			637,688
Goodwill, net	246,098			—		—			—		—			246,098
Intangible assets, net	123,177			—		112,141			—		—			235,318
Intercompany receivables	450,000			—		—			—		(450,000		)	—
Investments in consolidated subsidiaries	(164,031		)	—		—			—		164,031			—
Other assets, net	36,744			—		34,987			363		—			72,094
Total assets	$	1,418,180		$	1	$	283,181		$	182,945	$	(351,770	)	$	1,532,537
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Current liabilities:
Accounts payable	$	50,164		$	—	$	2,221		$	87	$	—		$	52,472
Short-term borrowings	—			—		—			—		—			—
Collateralized note payable	—			—		—			104,000		—			104,000
Intercompany payables	—			—		45,554			20,247		(65,801		)	—
Other current liabilities	143,804			—		3,041			398		—			147,243
Total current liabilities	193,968			—		50,816			124,732		(65,801		)	303,715
Long-term debt	1,646,069			—		450,000			—		(450,000		)	1,646,069
Other liabilities	29,615			—		4,610			—		—			34,225
Contingencies and commitments
Partners' capital (deficit):
Partners' equity	(469,338		)	1		(222,245		)	58,213		164,031			(469,338		)
Accumulated other comprehensive income	17,866			—		—			—		—			17,866
Total partners' capital (deficit)	(451,472		)	1		(222,245		)	58,213		164,031			(451,472		)
Total liabilities and partners' capital (deficit)	$	1,418,180		$	1	$	283,181		$	182,945	$	(351,770	)	$	1,532,537

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, net	(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, net	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 April 30, 2018
	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	$	451,212		$	—	$	90		$	—		$	—		$	451,302
Midstream operations	—			—		22,595			—			—			22,595
Other	19,701			—		22,212			—			—			41,913
Total revenues	470,913			—		44,897			—			—			515,810
Costs and expenses:
Cost of sales - propane and other gas liquids sales	260,317			—		102			—			—			260,419
Cost of sales - midstream operations	—			—		14,518			—			—			14,518
Cost of sales - other	2,328			—		17,522			—			—			19,850
Operating expense	108,291			—		9,262			1,459			(2,433		)	116,579
Depreciation and amortization expense	19,105			—		6,171			72			—			25,348
General and administrative expense	10,460			—		1,086			—			—			11,546
Equipment lease expense	7,045			—		88			—			—			7,133
Non-cash employee stock ownership plan compensation charge	2,738			—		—			—			—			2,738
Loss on asset sales and disposals	2,243			—		4,027			—			—			6,270
Operating income (loss)	58,386			—		(7,879		)	(1,531		)	2,433			51,409
Interest expense	(20,297		)	—		(10,104		)	(1,338		)	—			(31,739		)
Other income (expense), net	(133		)	—		360			2,433			(2,433		)	227
Earnings (loss) before income taxes	37,956			—		(17,623		)	(436		)	—			19,897
Income tax expense (benefit)	102			—		(45		)	—			—			57
Equity in earnings (loss) of subsidiary	(18,014		)	—		—			—			18,014			—
Net earnings (loss)	19,840			—		(17,578		)	(436		)	18,014			19,840
Other comprehensive loss	(6,727		)	—		—			—			—			(6,727		)
Comprehensive income (loss)	$	13,113		$	—	$	(17,578	)	$	(436	)	$	18,014		$	13,113

FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(in thousands)
	For the three months ended April 30, 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	$	369,437		$	—	$	—		$	—		$	—		$	369,437
Midstream operations	—			—		126,676			—			—			126,676
Other	17,850			—		24,146			—			—			41,996
Total revenues	387,287			—		150,822			—			—			538,109
Costs and expenses:
Cost of sales - propane and other gas liquids sales	197,487			—		—			—			—			197,487
Cost of sales - midstream operations	—			—		118,767			—			—			118,767
Cost of sales - other	1,992			—		18,818			—			—			20,810
Operating expense	96,264			—		8,594			1,315			(1,400		)	104,773
Depreciation and amortization expense	18,261			—		7,418			58			—			25,737
General and administrative expense	8,930			—		939			—			—			9,869
Equipment lease expense	7,108			—		162			—			—			7,270
Non-cash employee stock ownership plan compensation charge	4,697			—		—			—			—			4,697
Loss on asset sales and disposals	2,146			—		247			—			—			2,393
Operating income (loss)	50,402			—		(4,123		)	(1,373		)	1,400			46,306
Interest expense	(19,452		)	—		(11,019		)	(799		)	—			(31,270		)
Other income (expense), net	(157		)	—		319			1,400			(1,400		)	162
Earnings (loss) before income taxes	30,793			—		(14,823		)	(772		)	—			15,198
Income tax expense (benefit)	97			—		(294		)	—			—			(197		)
Equity in earnings (loss) of subsidiary	(15,301		)	—		—			—			15,301			—
Net earnings (loss)	15,395			—		(14,529		)	(772		)	15,301			15,395
Other comprehensive income	(8,429		)	—		—			—			—			(8,429		)
Comprehensive income (loss)	$	6,966		$	—	$	(14,529	)	$	(772	)	$	15,301		$	6,966

FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(in thousands)
	For the nine months ended April 30, 2018
	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	$	1,345,604		$	—		$	695		$	—		$	—		$	1,346,299
Midstream operations	—			—			260,631			—			—			260,631
Other	59,085			—			59,606			—			—			118,691
Total revenues	1,404,689			—			320,932			—			—			1,725,621
Costs and expenses:
Cost of sales - propane and other gas liquids sales	802,063			—			789			—			—			802,852
Cost of sales - midstream operations	—			—			229,710			—			—			229,710
Cost of sales - other	7,890			—			46,449			—			—			54,339
Operating expense	323,619			—			28,320			4,474			(5,656		)	350,757
Depreciation and amortization expense	55,973			—			20,377			215			—			76,565
General and administrative expense	35,048			5			4,547			—			—			39,600
Equipment lease expense	20,555			—			273			—			—			20,828
Non-cash employee stock ownership plan compensation charge	10,731			—			—			—			—			10,731
Asset impairments	—			—			10,005			—			—			10,005
Loss on asset sales and disposals	3,706			—			42,708			—			—			46,414
Operating income (loss)	145,104			(5		)	(62,246		)	(4,689		)	5,656			83,820
Interest expense	(61,903		)	—			(33,028		)	(3,062		)	—			(97,993		)
Other income (expense), net	490			—			932			5,656			(5,656		)	1,422
Earnings (loss) before income taxes	83,691			(5		)	(94,342		)	(2,095		)	—			(12,751		)
Income tax expense	174			—			87			—			—			261
Equity in earnings (loss) of subsidiary	(96,529		)	—			—			—			96,529			—
Net earnings (loss)	(13,012		)	(5		)	(94,429		)	(2,095		)	96,529			(13,012		)
Other comprehensive income	3,102			—			—			—			—			3,102
Comprehensive income (loss)	$	(9,910	)	$	(5	)	$	(94,429	)	$	(2,095	)	$	96,529		$	(9,910	)

FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(in thousands)
	For the nine months ended April 30, 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	$	1,049,211		$	—		$	—		$	—		$	—		$	1,049,211
Midstream operations	—			—			331,507			—			—			331,507
Other	56,785			—			59,398			—			—			116,183
Total revenues	1,105,996			—			390,905			—			—			1,496,901
Costs and expenses:
Cost of sales - propane and other gas liquids sales	551,728			—			—			—			—			551,728
Cost of sales - midstream operations	—			—			300,433			—			—			300,433
Cost of sales - other	6,993			—			46,220			—			—			53,213
Operating expense	297,905			—			28,482			(251		)	(3,201		)	322,935
Depreciation and amortization expense	54,552			—			22,817			177			—			77,546
General and administrative expense	32,886			5			3,525			—			—			36,416
Equipment lease expense	21,585			—			450			—			—			22,035
Non-cash employee stock ownership plan compensation charge	11,396			—			—			—			—			11,396
Loss on asset sales and disposals	3,666			—			5,195			—			—			8,861
Operating income (loss)	125,285			(5		)	(16,217		)	74			3,201			112,338
Interest expense	(60,893		)	—			(32,694		)	(1,826		)	(3		)	(95,416		)
Other income (expense), net	100			—			1,333			3,198			(3,198		)	1,433
Earnings (loss) before income taxes	64,492			(5		)	(47,578		)	1,446			—			18,355
Income tax expense (benefit)	171			—			(371		)	—			—			(200		)
Equity in earnings (loss) of subsidiary	(45,766		)	—			—			—			45,766			—
Net earnings (loss)	18,555			(5		)	(47,207		)	1,446			45,766			18,555
Other comprehensive income	16,723			—			—			—			—			16,723
Comprehensive income (loss)	$	35,278		$	(5	)	$	(47,207	)	$	1,446		$	45,766		$	35,278

Condensed Consolidated Statements of Cash Flows

FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
	For the nine months ended April 30, 2018
	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	$	65,604		$	(5	)	$	(3,531	)	$	66,878		$	(35,000	)	$	93,946
Cash flows from investing activities:
Business acquisitions, net of cash acquired	(14,862		)	—			—			—			—			(14,862		)
Capital expenditures	(57,158		)	—			(1,803		)	—			—			(58,961		)
Proceeds from sale of assets	2,479			—			55,323			—			—			57,802
Cash collected for purchase of interest in accounts receivable	—			—			—			985,084			(985,084		)	—
Cash remitted to Ferrellgas, L.P. for accounts receivable	—			—			—			(1,020,084		)	1,020,084			—
Net changes in advances with consolidated entities	116,871			—			—			—			(116,871		)	—
Net cash provided by (used in) investing activities	47,330			—			53,520			(35,000		)	(81,871		)	(16,021		)
Cash flows from financing activities:
Distributions	(45,495		)	—			—			—			—			(45,495		)
Proceeds from increase in long-term debt	23,580			—			—			—			—			23,580
Payments on long-term debt	(1,892		)	—			—			—			—			(1,892		)
Net reductions in short-term borrowings	(84,179		)	—			—			—			—			(84,179		)
Net additions to collateralized short-term borrowings	—			—			—			35,000			—			35,000
Net changes in advances with parent	—			5			(49,998		)	(66,878		)	116,871			—
Cash paid for financing costs	(1,149		)	—			—			—			—			(1,149		)
Net cash provided by (used in) financing activities	(109,135		)	5			(49,998		)	(31,878		)	116,871			(74,135		)
Increase (decrease) in cash and cash equivalents	3,799			—			(9		)	—			—			3,790
Cash and cash equivalents - beginning of year	5,327			1			373			—			—			5,701
Cash and cash equivalents - end of year	$	9,126		$	1		$	364		$	—		$	—		$	9,491

FERRELLGAS, L.P. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(in thousands)
	For the nine months ended April 30, 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	$	186,530		$	(5	)	$	(73,168	)	$	38,042		$	(27,000	)	$	124,399
Cash flows from investing activities:
Business acquisitions, net of cash acquired	(3,539		)	—			—			—			—			(3,539		)
Capital expenditures	(35,116		)	—			(296		)	—			—			(35,412		)
Proceeds from sale of assets	4,721			—			—			—			—			4,721
Cash collected for purchase of interest in accounts receivable	—			—			—			803,109			(803,109		)	—
Cash remitted to Ferrellgas, L.P. for accounts receivable	—			—			—			(830,109		)	830,109			—
Net changes in advances with consolidated entities	(35,476		)	—			—			244			35,232			—
Other	(37		)	—			—			—			—			(37		)
Net cash provided by (used in) investing activities	(69,447		)	—			(296		)	(26,756		)	62,232			(34,267		)
Cash flows from financing activities:
Distributions	(94,413		)	—			—			—			—			(94,413		)
Contributions from Partners	167,640			—			—			—			—			167,640
Proceeds from increase in long-term debt	52,354			—			—			—			—			52,354
Payments on long-term debt	(173,471		)	—			—			—			—			(173,471		)
Net reductions in short-term borrowings	(62,902		)	—			—			—			—			(62,902		)
Net additions to collateralized short-term borrowings	—			—			—			27,000			—			27,000
Net changes in advances with parent	—			5			73,269			(38,042		)	(35,232		)	—
Cash paid for financing costs	(1,820		)	—			—			(244		)	—			(2,064		)
Net cash provided by (used in) financing activities	(112,612		)	5			73,269			(11,286		)	(35,232		)	(85,856		)
Increase (decrease) in cash and cash equivalents	4,471			—			(195		)	—			—			4,276
Cash and cash equivalents - beginning of year	4,472			1			417			—			—			4,890
Cash and cash equivalents - end of year	$	8,943		$	1		$	222		$	—		$	—		$	9,166