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Goodwill and intangible assets, net

12 Months Ended

Jul. 31, 2022

G. Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:


	July 31, 2022						July 31, 2021
	Gross Carrying		Accumulated				Gross Carrying		Accumulated
	Amount		Amortization		Net		Amount		Amortization		Net
Goodwill, net	$	257,099	$	—	$	257,099	$	246,946	$	—	$	246,946

Intangible assets, net
Amortized intangible assets
Customer related	$	456,181	$	(412,548)	$	43,633	$	451,922	$	(405,490)	$	46,432
Non-compete agreements		27,044		(24,060)		2,984		26,319		(23,029)		3,290
Other		3,513		(3,513)		—		3,513		(3,513)		—
		486,738		(440,121)		46,617		481,754		(432,032)		49,722

Unamortized intangible assets
Trade names & trademarks		51,021		—		51,021		51,021		—		51,021
Total intangible assets, net	$	537,759	$	(440,121)	$	97,638	$	532,775	$	(432,032)	$	100,743

Changes in the carrying amount of goodwill are as follows:


	Propane operations and
	related equipment sales
Balance July 31, 2020	$	247,195
Other		(249)
Balance July 31, 2021		246,946
Acquisitions		10,153
Balance July 31, 2022	$	257,099

Customer related intangible assets have estimated lives of 15 years and non-compete agreements and other intangible assets have estimated lives ranging from 5 to 10 years. Ferrellgas intends to utilize all acquired trademarks and trade names and does not believe there are any legal, regulatory, contractual, competitive, economical or other factors that would limit their useful lives. Therefore, trademarks and trade names have indefinite useful lives. Customer related intangibles carry a weighted average life of 15 years, and non-compete agreements and other intangibles carry a weighted average life of 9 years.

Aggregate amortization expense related to intangible assets, net:


For the year ended July 31,
2022	$	8,089
2021		8,742
2020		9,079

Estimated amortization expense:


For the year ended July 31,
2023	$	7,837
2024		7,599
2025		5,561
2026		5,001
2027		4,610