Supplemental financial statement information

3 Months Ended

Oct. 31, 2022

Supplemental financial statement information

Supplemental financial statement information

C.    Supplemental financial statement information

Inventories

Inventories consist of the following:

	October 31, 2022		July 31, 2022
Propane gas and related products	$	101,991	$	96,679
Appliances, parts and supplies, and other		18,154		18,508
Inventories	$	120,145	$	115,187

In addition to inventories on hand, Ferrellgas enters into contracts to take delivery of propane for supply procurement purposes with terms that generally do not exceed 36 months. Most of these contracts call for payment based on market prices at the date of delivery. As of October 31, 2022, Ferrellgas had committed, for supply procurement purposes, to deliver approximately 6.3 million gallons of propane at net fixed prices.

Prepaid expenses and other current assets

Ferrellgas Partners

Prepaid expenses and other current assets consist of the following:

	October 31, 2022		July 31, 2022
Broker margin deposit assets	$	35,230	$	12,338
Other		33,300		18,426
Prepaid expenses and other current assets	$	68,530	$	30,764

The operating partnership

Prepaid expenses and other current assets consist of the following:

	October 31, 2022		July 31, 2022
Broker margin deposit assets	$	35,230	$	12,338
Other		33,279		18,405
Prepaid expenses and other current assets	$	68,509	$	30,743

Other current liabilities

Ferrellgas Partners

Other current liabilities consist of the following:

	October 31, 2022		July 31, 2022
Accrued interest	$	9,435	$	29,703
Customer deposits and advances		42,212		33,189
Accrued payroll		16,246		29,717
Accrued insurance		15,202		16,114
Accrued senior preferred units distributions		17,966		17,466
Other		86,635		59,616
Other current liabilities	$	187,696	$	185,805

The operating partnership

Other current liabilities consist of the following:

	October 31, 2022		July 31, 2022
Accrued interest	$	9,435	$	29,703
Customer deposits and advances		42,212		33,189
Accrued payroll		16,246		29,717
Accrued insurance		15,202		16,114
Accrued senior preferred units distributions		17,966		17,466
Other		86,356		59,339
Other current liabilities	$	187,417	$	185,528

Shipping and handling expenses

Shipping and handling expenses are classified in the following condensed consolidated statements of operations line items:

	For the three months ended October 31,
	2022		2021
Operating expense - personnel, vehicle, plant and other	$	64,172	$	54,447
Depreciation and amortization expense		3,837		2,535
Operating expense - equipment lease expense		3,754		4,535
	$	71,763	$	61,517

Cash, cash equivalents and restricted cash

For purposes of the condensed consolidated statements of cash flows, Ferrellgas considers cash equivalents to include all highly liquid debt instruments purchased with an original maturity of three months or less. Restricted cash in the tables below as of October 31, 2022 and July 31, 2022 consists of the balance of a cash deposit made with the administrative agent under the operating partnership’s senior secured credit facility that was terminated in April 2020, which may be used by the administrative agent to pay contingent obligations arising under the financing agreement that governed the terminated senior secured credit facility.

Ferrellgas Partners

Cash, cash equivalents and restricted cash consist of the following:

	October 31, 2022		July 31, 2022
Cash and cash equivalents	$	44,173	$	147,529
Restricted cash		11,132		11,208
Cash, cash equivalents and restricted cash	$	55,305	$	158,737

The operating partnership

Cash, cash equivalents and restricted cash consist of the following:

	October 31, 2022		July 31, 2022
Cash and cash equivalents	$	43,901	$	147,258
Restricted cash		11,132		11,208
Cash, cash equivalents and restricted cash	$	55,033	$	158,466

Certain cash flow and non-cash activities

Certain cash flow and significant non-cash activities are presented below:

	For the three months ended October 31,
	2022		2021
Cash paid for:
Interest	$	43,343	$	44,152
Income taxes	$	49	$	—
Non-cash investing and financing activities:
Liabilities incurred in connection with acquisitions	$	2,007	$	644
Change in accruals for property, plant and equipment additions	$	(172)	$	65
Lease liabilities arising from operating right-of-use assets	$	1,140	$	7,558
Lease liabilities arising from finance right-of-use assets	$	—	$	812
Accrued senior preferred units distributions	$	16,251	$	17,005