Goodwill and intangible assets, net

12 Months Ended

Jul. 31, 2025

Goodwill and intangible assets, net

Goodwill and intangible assets, net

G.        Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:

	July 31, 2025						July 31, 2024
	Gross Carrying		Accumulated				Gross Carrying		Accumulated
	Amount		Amortization		Net		Amount		Amortization		Net
Goodwill, net	$	257,155	$	—	$	257,155	$	257,006	$	—	$	257,006
Intangible assets, net
Amortized intangible assets
Customer-related	$	392,963	$	(340,134)	$	52,829	$	391,135	$	(332,841)	$	58,294
Non-compete agreements		29,284		(26,683)		2,601		28,894		(26,054)		2,840
		422,247		(366,817)		55,430		420,029		(358,895)		61,134
Unamortized intangible assets
Trade names & trademarks		51,021		—		51,021		51,021		—		51,021
Total intangible assets, net	$	473,268	$	(366,817)	$	106,451	$	471,050	$	(358,895)	$	112,155

Changes in the carrying amount of goodwill are as follows:

	Propane operations and
	related equipment sales
Balance July 31, 2023	$	257,006
Other		—
Balance July 31, 2024		257,006
Acquisition		149
Balance July 31, 2025	$	257,155

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,
2025	$	7,922
2024		9,281
2023		8,553

Estimated amortization expense:

For the year ended July 31,
2026	$	7,453
2027		7,062
2028		6,587
2029		6,111
2030		4,721