Partnership organization and formation

Ferrellgas Partners, L.P. (“Ferrellgas Partners”) was formed on April 19, 1994, and is a publicly traded limited partnership, owning an approximate 99% limited partner interest in Ferrellgas, L.P. (the "operating partnership"). Ferrellgas Partners and the operating partnership, collectively referred to as “Ferrellgas,” are both Delaware limited partnerships and are governed by their respective partnership agreements. Ferrellgas Partners was formed to acquire and hold a limited partner interest in the operating partnership. As of July 31, 2014, Ferrell Companies beneficially owns 21.7 million of Ferrellgas Partners’ outstanding common units. Ferrellgas, Inc. (the "general partner") has retained a 1% general partner interest in Ferrellgas Partners and also holds an approximate 1% general partner interest in the operating partnership, representing an effective 2% general partner interest in Ferrellgas on a combined basis. As general partner, it performs all management functions required by Ferrellgas. Creditors of the operating partnership have no recourse with regards to Ferrellgas Partners.

Ferrellgas Partners is a holding entity that conducts no operations and has two subsidiaries, Ferrellgas Partners Finance Corp. and the operating partnership. Ferrellgas Partners owns a 100% equity interest in Ferrellgas Partners Finance Corp., whose only business activity is to act as the co-issuer and co-obligor of any debt issued by Ferrellgas Partners. The operating partnership is the only operating subsidiary of Ferrellgas Partners.

Ferrellgas is engaged in the following reportable business segment activities:

•

Propane and related equipment sales consists of the distribution of propane and related equipment and supplies. The propane distribution market is seasonal because propane is used primarily for heating in residential and commercial buildings. Ferrellgas serves residential, industrial/commercial, portable tank exchange, agricultural, wholesale and other customers in all 50 states, the District of Columbia, and Puerto Rico.


•	Midstream operations consists of eight salt water disposal wells in the Eagle Ford shale region of south Texas. Salt water disposal wells are a critical component of the oil and natural gas well drilling industry. Oil and natural gas wells generate significant volumes of salt water that is transported by truck to our disposal wells.

Ferrellgas Partners Finance Corp. [Member]

Formation

Ferrellgas Partners Finance Corp. (the “Finance Corp.”), a Delaware corporation, was formed on March 28, 1996 and is a wholly-owned subsidiary of Ferrellgas Partners, L.P. (the “Partnership”).

The Partnership contributed $1,000 to the Finance Corp. on April 8, 1996 in exchange for 1,000 shares of common stock.

The Finance Corp. has nominal assets, does not conduct any operations and has no employees.

Ferrellgas, L.P. [Member]

Partnership organization and formation

Ferrellgas, L.P. was formed on April 22, 1994, and is a Delaware limited partnership. Ferrellgas Partners, L.P. (“Ferrellgas Partners”), a publicly traded limited partnership, holds an approximate 99% limited partner interest in, and consolidates, Ferrellgas, L.P. Ferrellgas, Inc. (the “general partner”), a wholly-owned subsidiary of Ferrell Companies, Inc. (“Ferrell Companies”), holds an approximate 1% general partner interest in Ferrellgas, L.P. and performs all management functions required by Ferrellgas, L.P. Ferrellgas Partners and Ferrellgas, L.P. are governed by their respective partnership agreements. These agreements contain specific provisions for the allocation of net earnings and loss to each of the partners for purposes of maintaining the partner capital accounts.

Ferrellgas, L.P. owns a 100% equity interest in Ferrellgas Finance Corp., whose only business activity is to act as the co-issuer and co-obligor of any debt issued by Ferrellgas, L.P.

Ferrellgas, L.P. is engaged in the following reportable business segment activities:

•


•	Midstream operations consists of eight salt water disposal wells in the Eagle Ford shale region of south Texas. Salt water disposal wells are a critical component of the oil and natural gas well drilling industry. Oil and natural gas wells generate significant volumes of salt water that is transported by truck to our disposal wells.

Ferrellgas Finance Corp. [Member]

Formation

Ferrellgas Finance Corp. (the “Finance Corp.”), a Delaware corporation, was formed on January 16, 2003 and is a wholly-owned subsidiary of Ferrellgas, L.P. (the “Partnership”).

The Partnership contributed $1,000 to the Finance Corp. on January 24, 2003 in exchange for 1,000 shares of common stock.

The Finance Corp. has nominal assets, does not conduct any operations and has no employees.

Summary Of Significant Accounting Policies

12 Months Ended

Jul. 31, 2014

Summary Of Significant Accounting Policies

Summary of significant accounting policies

(1) Accounting estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from these estimates. Significant estimates impacting the consolidated financial statements include accruals that have been established for contingent liabilities, pending claims and legal actions arising in the normal course of business, useful lives of property, plant and equipment assets, residual values of tanks, capitalization of customer tank installation costs, amortization methods of intangible assets, valuation methods used to value sales returns and allowances, allowance for doubtful accounts, fair value of reporting units, assumptions used to value business combinations, fair values of derivative contracts and stock and unit-based compensation calculations.

(2) Principles of consolidation: The accompanying consolidated financial statements present the consolidated financial position, results of operations and cash flows of Ferrellgas Partners, its wholly-owned subsidiary, Ferrellgas Partners Finance Corp., and the operating partnership, its majority-owned subsidiary, after elimination of all intercompany accounts and transactions. The accounts of Ferrellgas Partners’ majority-owned subsidiary are included based on the determination that the operating partnership is a variable interest entity for whom Ferrellgas Partners has no ability through voting rights or similar rights to make decisions and thus does not have the power to direct the activities of the operating partnership that most significantly impact economic performance. However, Ferrellgas partners has the obligation to absorb the losses of and the right to receive benefits from the operating partnership that are significant to the operating partnership. Furthermore, assets and liabilities of Ferrellgas Partners consist substantially of the operating partnership. The operating partnership includes the accounts of its wholly-owned subsidiaries. The general partner’s approximate 1% general partner interest in the operating partnership is accounted for as a noncontrolling interest. The wholly-owned consolidated subsidiary of the operating partnership, Ferrellgas Receivables, LLC (“Ferrellgas Receivables”), is a special purpose entity that has agreements with the operating partnership to securitize, on an ongoing basis, a portion of its trade accounts receivable.

(3) Supplemental cash flow information: For purposes of the 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. Certain cash flow and significant non-cash activities are presented below:



	For the year ended July 31,
	2014		2013		2012
CASH PAID FOR:
Interest	$	90,820	$	84,030	$	88,696
Income taxes	$	816	$	550	$	764
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common units in connection with acquisitions	$	1,500	$	—	$	1,300
Liabilities incurred in connection with acquisitions	$	4,312	$	2,035	$	2,321
Change in accruals for property, plant and equipment additions	$	978	$	533	$	233

(4) Fair value measurements: Ferrellgas measures certain of its assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants – in either the principal market or the most advantageous market. The principal market is the market with the greatest level of activity and volume for the asset or liability.

The common framework for measuring fair value utilizes a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below with Level 1 having the highest priority and Level 3 having the lowest.


•	Level 1: Quoted prices in active markets for identical assets or liabilities.


•	Level 2: Quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.


•	Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable.

(5) Accounts receivable securitization: Through its wholly-owned and consolidated subsidiary Ferrellgas Receivables, Ferrellgas has agreements to securitize, on an ongoing basis, a portion of its trade accounts receivable.

(6) Inventories: Inventories are stated at the lower of cost or market using weighted average cost and actual cost methods.

(7) Property, plant and equipment: Property, plant and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and routine repairs are expensed as incurred. Ferrellgas capitalizes computer software, equipment replacement and betterment expenditures that upgrade, replace or completely rebuild major mechanical components and extend the original useful life of the equipment. Depreciation is calculated using the straight-line method based on the estimated useful lives of the assets ranging from two to 30 years. Ferrellgas, using its best estimates based on reasonable and supportable assumptions and projections, reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of its assets might not be recoverable. See Note E – Supplemental financial statement information – for further discussion of property, plant and equipment.

(8) Goodwill: Ferrellgas records goodwill as the excess of the cost of acquisitions over the fair value of the related net assets at the date of acquisition. Goodwill recorded is not deductible for income tax purposes. Ferrellgas has determined that it has four reporting units for goodwill impairment testing purposes. Three of these reporting units contain goodwill that is subject to at least an annual assessment for impairment by applying a fair-value-based test. Under this test, the carrying value of each reporting unit is determined by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units as of the date of the evaluation on a specific identification basis. To the extent a reporting unit’s carrying value exceeds its fair value, an indication exists that the reporting unit’s goodwill may be impaired and the second step of the impairment test must be performed. In the second step, the implied fair value of the goodwill is determined by allocating the fair value of all of its assets (recognized and unrecognized) and liabilities to its carrying amount. Ferrellgas has completed the impairment test for the Retail operations and Products reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2014. Goodwill associated with the Midstream operations reporting unit is a result of our acquisition of Sable Environmental LLC and Sable SWD 2, LLC (collectively "Sable") on May 1, 2014.

(9) Intangible assets: Intangible assets with finite useful lives, consisting primarily of customer related assets, non-compete agreements, permits, favorable lease arrangements and patented technology, are stated at cost, net of accumulated amortization calculated using the straight-line method over periods ranging from two to 15 years. Trade names and trademarks have indefinite lives, are not amortized, and are stated at cost. Ferrellgas tests finite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of these assets might not be recoverable. Ferrellgas tests indefinite-lived intangible assets for impairment annually on January 31 or more frequently if circumstances dictate. Ferrellgas has not recognized impairment losses as a result of these tests. When necessary, intangible assets’ useful lives are revised and the impact on amortization reflected on a prospective basis. See Note G – Goodwill and intangible assets, net – for further discussion of intangible assets.

(10) Derivative instruments and hedging activities:

Commodity Price Risk.

Ferrellgas’ overall objective for entering into commodity based derivative contracts, including commodity options and swaps, is to hedge a portion of its exposure to market fluctuations in propane prices.

Ferrellgas’ risk management activities primarily attempt to mitigate price risks related to the purchase, storage, transport and sale of propane generally in the contract and spot markets from major domestic energy companies on a short-term basis. Ferrellgas attempts to mitigate these price risks through the use of financial derivative instruments and forward propane purchase and sales contracts.

Ferrellgas’ risk management strategy involves taking positions in the forward or financial markets that are equal and opposite to Ferrellgas’ positions in the physical products market in order to minimize the risk of financial loss from an adverse price change. This risk management strategy is successful when Ferrellgas’ gains or losses in the physical product markets are offset by its losses or gains in the forward or financial markets. These financial derivatives are designated as cash flow hedges.

Ferrellgas’ risk management activities may include the use of financial derivative instruments including, but not limited to, swaps, options, and futures to seek protection from adverse price movements and to minimize potential losses. Ferrellgas enters into these financial derivative instruments directly with third parties in the over-the-counter market and with brokers who are clearing members with the New York Mercantile Exchange. All of Ferrellgas’ financial derivative instruments are reported on the consolidated balance sheets at fair value.

Ferrellgas also enters into forward propane purchase and sales contracts with counterparties. These forward contracts qualify for the normal purchase normal sales exception within GAAP guidance and are therefore not recorded on Ferrellgas’ financial statements until settled.

On the date that derivative contracts are entered into, other than those designated as normal purchases or normal sales, Ferrellgas makes a determination as to whether the derivative instrument qualifies for designation as a hedge. These financial instruments are formally designated and documented as a hedge of a specific underlying exposure, as well as the risk management objectives and strategies for undertaking the hedge transaction. Because of the high degree of correlation between the hedging instrument and the underlying exposure being hedged, fluctuations in the value of the derivative instrument are generally offset by changes in the anticipated cash flows of the underlying exposure being hedged. Since the fair value of these derivatives fluctuates over their contractual lives, their fair value amounts should not be viewed in isolation, but rather in relation to the anticipated cash flows of the underlying hedged transaction and the overall reduction in Ferrellgas’ risk relating to adverse fluctuations in propane prices. Ferrellgas formally assesses, both at inception and at least quarterly thereafter, whether the financial instruments that are used in hedging transactions are effective at offsetting changes in the anticipated cash flows of the related underlying exposures. Any ineffective portion of a financial instrument’s change in fair value is recognized in “Cost of product sold - propane and other gas liquids sales” in the consolidated statements of earnings. Financial instruments formally designated and documented as a hedge of a specific underlying exposure are recorded gross at fair value as “Prepaid expenses and other current assets”, "Other assets, net", “Other current liabilities”, or "Other liabilities" on the consolidated balance sheets with changes in fair value reported in other comprehensive income.

Interest Rate Risk.

Ferrellgas’ overall objective for entering into interest rate derivative contracts, including swaps, is to manage its exposure to interest rate risk associated with its fixed rate senior notes and its floating rate borrowings from both the secured credit facility and the accounts receivable securitization facility. Fluctuations in interest rates subject Ferrellgas to interest rate risk. Decreases in interest rates increase the fair value of Ferrellgas’ fixed rate debt, while increases in interest rates subject Ferrellgas to the risk of increased interest expense related to its variable rate borrowings.

Ferrellgas enters into fair value hedges to help reduce its fixed interest rate risk. Interest rate swaps are used to hedge the exposure to changes in the fair value of fixed rate debt due to changes in interest rates. Fixed rate debt that has been designated as being hedged is recorded at fair value while the fair value of interest rate derivatives that are considered fair value hedges are classified as “Prepaid expenses and other current assets”, “Other assets, net”, Other current liabilities” or as “Other liabilities” on the consolidated balance sheets. Changes in the fair value of fixed rate debt and any related fair value hedges are recognized as they occur in “Interest expense” on the consolidated statements of earnings.

Ferrellgas enters into cash flow hedges to help reduce its variable interest rate risk. Interest rate swaps are used to hedge the risk associated with rising interest rates and their effect on forecasted interest payments related to variable rate borrowings. These interest rate swaps are designated as cash flow hedges. Thus, the effective portions of changes in the fair value of the hedges are recorded in “Prepaid expenses and other current assets”, “Other assets, net”, “Other current liabilities” or as “Other liabilities” with an offsetting entry to “Other comprehensive income” at interim periods and are subsequently recognized as interest expense in the consolidated statement of earnings when the forecasted transaction impacts earnings. Changes in the fair value of any cash flow hedges that are considered ineffective are recognized as interest expense on the consolidated statement of earnings as they occur.

(11) Revenue recognition: Revenues from our propane and related equipment sales segment are recognized at the time product is delivered with payments generally due 30 days after receipt. Amounts are considered past due after 30 days. Ferrellgas determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions. Ferrellgas offers “even pay” billing programs that can create customer deposits or advances. Revenue is recognized from these customer deposits or advances to customers at the time product is delivered. Other revenues, which include revenue from the sale of propane appliances and equipment is recognized at the time of delivery or installation. Ferrellgas recognizes shipping and handling revenues and expenses for sales of propane, appliances and equipment at the time of delivery or installation. Shipping and handling revenues are included in the price of propane charged to customers, and are classified as revenue. Revenues from annually billed, non-refundable propane tank rentals are recognized in “Revenues: other” on a straight-line basis over one year.

Revenues from our midstream operations segment are recognized when there is persuasive evidence that an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Salt water disposal revenues are based on Ferrellgas’ published or negotiated water disposal rates. Customers deliver salt water to be disposed to facilities and revenue is recognized when actual volumes of water are off-loaded at the facilities. Skimming oil disposal revenues are determined based on published rates subject to adjustments based on the quality of the oil sold and are recognized when actual volumes are delivered to the customer who determines the quality of the oil and collectability is reasonably assured. Amounts are considered past due after 30 days. Ferrellgas determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions.

(12) Shipping and handling expenses: Shipping and handling expenses related to delivery personnel, vehicle repair and maintenance and general liability expenses within our propane and related equipment sales segment are classified within “Operating expense” in the consolidated statements of earnings. Depreciation expenses on delivery vehicles Ferrellgas owns are classified within “Depreciation and amortization expense.” Delivery vehicles and distribution technology leased by Ferrellgas are classified within “Equipment lease expense.” See Note E – Supplemental financial statement information – for the financial statement presentation of shipping and handling expenses.

(13) Cost of product sold: “Cost of product sold – propane and other gas liquids sales” includes all costs to acquire propane and other gas liquids, the costs of storing and transporting inventory prior to delivery to Ferrellgas’ customers, the results from risk management activities to hedge related price risk and the costs of materials related to the refurbishment of Ferrellgas’ portable propane tanks. “Cost of product sold – other” primarily includes costs related to the sale of propane appliances and equipment and transportation costs related to the processing and disposal of salt water.

(14) Operating expenses: “Operating expense” primarily includes the personnel, vehicle, delivery, handling, plant, office, selling, marketing, credit and collections and other expenses related to our propane and related equipment and supplies and midstream operations segments.

(15) General and administrative expenses: “General and administrative expense” primarily includes personnel and incentive expense related to executives, and employees and other overhead expense related to centralized corporate functions.

(16) Stock-based plan:

Ferrell Companies, Inc. Incentive Compensation Plan (“ICP”)

The ICP is not a Ferrellgas stock-compensation plan; however, in accordance with Ferrellgas’ partnership agreements, all Ferrellgas employee-related costs incurred by Ferrell Companies are allocated to Ferrellgas. As a result, Ferrellgas incurs a non-cash compensation charge from Ferrell Companies. During the years ended July 31, 2014, 2013 and 2012, the portion of the total non-cash compensation charge relating to the ICP was $24.5 million, $13.5 million and $8.8 million, respectively.

Ferrell Companies is authorized to issue up to 9.25 million stock appreciation right ("SARs") awards that are based on shares of Ferrell Companies common stock. The ICP was established by Ferrell Companies to allow upper-middle and senior level managers as well as directors of the general partner to participate in the equity growth of Ferrell Companies. The ICP awards vest ratably over periods ranging from zero to 12 years or 100% upon a change of control of Ferrell Companies, or upon the death, disability or retirement at the age of 65 of the participant. All awards expire 10 or 15 years from the date of issuance. The fair value of each award is estimated on each balance sheet date using a binomial valuation model.

(17) Income taxes: Ferrellgas Partners is a publicly-traded master limited partnership with one subsidiary that is a taxable corporation. The operating partnership is a limited partnership with three subsidiaries that are taxable corporations. Partnerships are generally not subject to federal income tax, although publicly-traded partnerships are treated as corporations for federal income tax purposes and therefore subject to Federal income tax unless a qualifying income test is satisfied. If this qualifying income test is satisfied, the publicly-traded partnership will be treated as a partnership for Federal income tax purposes. Based on Ferrellgas’ calculations, Ferrellgas Partners satisfies the qualifying income test. As a result, except for the taxable corporations, Ferrellgas Partners’ earnings or losses for Federal income tax purposes are included in the tax returns of the individual partners, Ferrellgas Partners’ unitholders. Accordingly, the accompanying consolidated financial statements of Ferrellgas Partners reflect federal income taxes related to the above mentioned taxable corporations and certain states that allow for income taxation of partnerships. Net earnings for financial statement purposes may differ significantly from taxable income reportable to Ferrellgas Partners unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities, the taxable income allocation requirements under Ferrellgas Partners’ partnership agreement and differences between Ferrellgas Partners financial reporting year end and its calendar tax year end.

Income tax expense consisted of the following:



	For the year ended July 31,
	2014		2013		2012
Current expense	$	2,428	$	1,722	$	215
Deferred expense	88		133		913
Income tax expense	$	2,516	$	1,855	$	1,128

Deferred taxes consisted of the following:



	July 31,
	2014			2013
Deferred tax assets	$	1,152		$	1,367
Deferred tax liabilities	(4,313		)	(4,602		)
Net deferred tax liability	$	(3,161	)	$	(3,235	)

(18) Sales taxes: Ferrellgas accounts for the collection and remittance of sales tax on a net tax basis. As a result, these amounts are not reflected in the consolidated statements of earnings.

(19) Net earnings (loss) per common unitholders’ interest: Net earnings (loss) per common unitholders’ interest is computed by dividing “Net earnings (loss) attributable to Ferrellgas Partners, L.P.,” after deducting the general partner's 1% interest, by the weighted average number of outstanding common units and the dilutive effect, if any, of outstanding unit options. See Note O – Net earnings (loss) per common unitholders’ interest – for further discussion about these calculations.

(20) New accounting standards:

FASB Accounting Standard Update No. 2010-28

In December 2010, the Financial Accounting Standards Board (“FASB”) issued FASB Accounting Standard Update No. 2010-28 (ASU 2010-28), which modifies Step 1 of the goodwill impairment test for reporting units with zero or negative carrying amounts. For those reporting units, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. Ferrellgas’ adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2011-4

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRS.” The amendments result in common fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards (“IFRS”). The new guidance applies to all reporting entities that are required or permitted to measure or disclose the fair value of an asset, liability or an instrument classified in shareholders’ equity. Among other things, the new guidance requires quantitative information about unobservable inputs, valuation processes and sensitivity analysis associated with fair value measurements categorized within Level 3 of the fair value hierarchy. The new guidance is effective for interim periods beginning after December 31, 2011 and is required to be applied prospectively. Ferrellgas’ adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update Nos. 2011-05 and 2011-12

In June 2011, the FASB issued ASU 2011-05, which revises the presentation of comprehensive income in the financial statements. The new guidance requires entities to report components of comprehensive income in either a continuous statement of comprehensive income or two separate but consecutive statements. In December 2011, the FASB issued ASU 2011-12, which indefinitely defers certain provisions of ASU 2011-05. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Ferrellgas' adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2011-08

In September 2011, the FASB issued ASU 2011-08, which amends the existing guidance on goodwill impairment testing. Under the new guidance, entities testing goodwill for impairment have the option of performing a qualitative assessment before calculating the fair value of the reporting unit. If an entity determines, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Ferrellgas' adoption of this guidance in fiscal 2013 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2012-02

In July 2012, the FASB issued ASU 2012-02, which amends the existing guidance on impairment testing of indefinite-lived intangible assets. Under the new guidance, entities testing indefinite-lived intangible assets for impairment have the option of performing a qualitative assessment before calculating the fair value of the asset. If an entity determines, on the basis of qualitative factors, that the fair value of the asset is more likely than not less than the carrying amount, the two-step impairment test would be required. This guidance is effective for annual and interim indefinite-lived intangible asset impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. Ferrellgas' adoption of this guidance in fiscal 2013 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2014-09

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The new standard will supersede much of the existing authoritative literature for revenue recognition. The standard and related amendments will be effective for Ferrellgas for its annual reporting period beginning August 1, 2017, including interim periods within that reporting period. Early application is not permitted. Entities are allowed to transition to the new standard by either recasting prior periods or recognizing the cumulative effect. Ferrellgas is currently evaluating the newly issued guidance, including which transition approach will be applied and the estimated impact it will have on our consolidated financial statements.

FASB Accounting Standard Update No. 2014-08

In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, to change the criteria for determining which disposals can be presented as discontinued operations and enhanced the related disclosure requirements. ASU 2014-08 is effective for us on a prospective basis in our first quarter of fiscal 2016 with early adoption permitted for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. Ferrellgas is currently evaluating the impact of our pending adoption of ASU 2014-08 on our consolidated financial statements.

Ferrellgas, L.P. [Member]

Summary Of Significant Accounting Policies

Summary of significant accounting policies

(2) Principles of consolidation: The accompanying consolidated financial statements present the consolidated financial position, results of operations and cash flows of Ferrellgas, L.P. and its subsidiaries after elimination of all intercompany accounts and transactions. Ferrellgas, L.P. consolidates the following wholly-owned entities: Sable Environmental, LLC, Sable SWD 2, LLC, Blue Rhino Global Sourcing, Inc., Blue Rhino Canada, Inc., Ferrellgas Real Estate, Inc., Ferrellgas Finance Corp. and Ferrellgas Receivables, LLC (“Ferrellgas Receivables”), a special purpose entity that has agreements with Ferrellgas, L.P. to securitize, on an ongoing basis, a portion of its trade accounts receivable.

(3) Supplemental cash flow information: For purposes of the consolidated statements of cash flows, Ferrellgas, L.P. considers cash equivalents to include all highly liquid debt instruments purchased with an original maturity of three months or less. Certain cash flow and significant non-cash activities are presented below:



	For the year ended July 31,
	2014		2013		2012
CASH PAID FOR:
Interest	$	75,121	$	68,334	$	72,999
Income taxes	$	771	$	534	$	756
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets contributed from Ferrellgas Partners in connection with acquisitions	$	1,500	$	—	$	1,300
Liabilities incurred in connection with acquisitions	$	4,312	$	2,035	$	2,321
Change in accruals for property, plant and equipment additions	$	978	$	533	$	233

(4) Fair value measurements: Ferrellgas L.P. measures certain of its assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants – in either the principal market or the most advantageous market. The principal market is the market with the greatest level of activity and volume for the asset or liability.


•	Level 1: Quoted prices in active markets for identical assets or liabilities.


•	Level 2: Quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.


•	Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable.

(5) Accounts receivable securitization: Through its wholly-owned and consolidated subsidiary Ferrellgas Receivables, Ferrellgas, L.P. has agreements to securitize, on an ongoing basis, a portion of its trade accounts receivable.

(6) Inventories: Inventories are stated at the lower of cost or market using weighted average cost and actual cost methods.

(7) Property, plant and equipment: Property, plant and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and routine repairs are expensed as incurred. Ferrellgas, L.P. capitalizes computer software, equipment replacement and betterment expenditures that upgrade, replace or completely rebuild major mechanical components and extend the original useful life of the equipment. Depreciation is calculated using the straight-line method based on the estimated useful lives of the assets ranging from two to 30 years. Ferrellgas, L.P., using its best estimates based on reasonable and supportable assumptions and projections, reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of its assets might not be recoverable. See Note E – Supplemental financial statement information – for further discussion of property, plant and equipment.

(8) Goodwill: Ferrellgas, L.P. records goodwill as the excess of the cost of acquisitions over the fair value of the related net assets at the date of acquisition. Goodwill recorded is not deductible for income tax purposes. Ferrellgas, L.P. has determined that it has four reporting units for goodwill impairment testing purposes. Three of these reporting units contain goodwill that is subject to at least an annual assessment for impairment by applying a fair-value-based test. Under this test, the carrying value of each reporting unit is determined by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units as of the date of the evaluation on a specific identification basis. To the extent a reporting unit’s carrying value exceeds its fair value, an indication exists that the reporting unit’s goodwill may be impaired and the second step of the impairment test must be performed. In the second step, the implied fair value of the goodwill is determined by allocating the fair value of all of its assets (recognized and unrecognized) and liabilities to its carrying amount. Ferrellgas, L.P. has completed the impairment test for the Retail operations and Products reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2014. Goodwill associated with the Midstream operations reporting unit is a result of our acquisition of Sable Environmental, LLC and Sable SWD 2, LLC (collectively "Sable") on May 1, 2014.

(9) Intangible assets: Intangible assets with finite useful lives, consisting primarily of customer related assets, non-compete agreements, permits, favorable lease arrangements and patented technology, are stated at cost, net of accumulated amortization calculated using the straight-line method over periods ranging from two to 15 years. Trade names and trademarks have indefinite lives, are not amortized, and are stated at cost. Ferrellgas, L.P. tests finite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of these assets might not be recoverable. Ferrellgas, L.P. tests indefinite-lived intangible assets for impairment annually on January 31 or more frequently if circumstances dictate. Ferrellgas, L.P. has not recognized impairment losses as a result of these tests. When necessary, intangible assets’ useful lives are revised and the impact on amortization reflected on a prospective basis. See Note G – Goodwill and intangible assets, net – for further discussion of intangible assets.

(10) Derivatives instruments and hedging activities:

Commodity Price Risk.

Ferrellgas, L.P.’s overall objective for entering into commodity based derivative contracts, including commodity options and swaps, is to hedge a portion of its exposure to market fluctuations in propane prices.

Ferrellgas L.P.’s risk management activities primarily attempt to mitigate price risks related to the purchase, storage, transport and sale of propane generally in the contract and spot markets from major domestic energy companies on a short-term basis. Ferrellgas L.P. attempts to mitigate these price risks through the use of financial derivative instruments and forward propane purchase and sales contracts.

Ferrellgas L.P.’s risk management strategy involves taking positions in the forward or financial markets that are equal and opposite to Ferrellgas L.P.’s positions in the physical products market in order to minimize the risk of financial loss from an adverse price change. This risk management strategy is successful when Ferrellgas L.P.’s gains or losses in the physical product markets are offset by its losses or gains in the forward or financial markets. These financial derivatives are designated as cash flow hedges.

Ferrellgas L.P.’s risk management activities may include the use of financial derivative instruments including, but not limited to, swaps, options, and futures to seek protection from adverse price movements and to minimize potential losses. Ferrellgas L.P. enters into these financial derivative instruments directly with third parties in the over-the-counter market and with brokers who are clearing members with the New York Mercantile Exchange. All of Ferrellgas L.P.’s derivative instruments are reported on the consolidated balance sheets at fair value.

Ferrellgas L.P. also enters into forward propane purchase and sales contracts with counterparties. These forward contracts qualify for the normal purchase normal sales exception within GAAP guidance and are therefore not recorded on Ferrellgas L.P.’s financial statements until settled.

On the date that derivative contracts are entered into, other than those designated as normal purchases or normal sales, Ferrellgas L.P. makes a determination as to whether the derivative instrument qualifies for designation as a hedge. These financial instruments are formally designated and documented as a hedge of a specific underlying exposure, as well as the risk management objectives and strategies for undertaking the hedge transaction. Because of the high degree of correlation between the hedging instrument and the underlying exposure being hedged, fluctuations in the value of the derivative instrument are generally offset by changes in the anticipated cash flows of the underlying exposure being hedged. Since the fair value of these derivatives fluctuates over their contractual lives, their fair value amounts should not be viewed in isolation, but rather in relation to the anticipated cash flows of the underlying hedged transaction and the overall reduction in Ferrellgas, L.P.’s risk relating to adverse fluctuations in propane prices. Ferrellgas, L.P. formally assesses, both at inception and at least quarterly thereafter, whether the financial instruments that are used in hedging transactions are effective at offsetting changes in the anticipated cash flows of the related underlying exposures. Any ineffective portion of a financial instrument’s change in fair value is recognized in “Cost of product sold - propane and other gas liquids sales” in the consolidated statements of earnings. Financial instruments formally designated and documented as a hedge of a specific underlying exposure are recorded gross at fair value as either “Prepaid expenses and other current assets”, "Other assets, net", “Other current liabilities” or "Other liabilities" on the consolidated balance sheets with changes in fair value reported in other comprehensive income.

Interest Rate Risk.

Ferrellgas L.P.’s overall objective for entering into interest rate derivative contracts, including swaps, is to manage its exposure to interest rate risk associated with its fixed rate senior notes and its floating rate borrowings from both the secured credit facility and the accounts receivable securitization facility. Fluctuations in interest rates subject Ferrellgas L.P. to interest rate risk. Decreases in interest rates increase the fair value of Ferrellgas L.P.’s fixed rate debt, while increases in interest rates subject Ferrellgas L.P. to the risk of increased interest expense related to its variable rate borrowings.

Ferrellgas L.P. enters into fair value hedges to help reduce its fixed interest rate risk. Interest rate swaps are used to hedge the exposure to changes in the fair value of fixed rate debt due to changes in interest rates. Fixed rate debt that has been designated as being hedged is recorded at fair value while the fair value of interest rate derivatives that are considered fair value hedges are classified as “Prepaid expenses and other current assets”, “Other assets, net”, “Other current liabilities” or “Other liabilities” on the consolidated balance sheets. Changes in the fair value of fixed rate debt and any related fair value hedges are recognized as they occur in “Interest expense” on the consolidated statements of earnings.

Ferrellgas enters into cash flow hedges to help reduce its variable interest rate risk. Interest rate swaps are used to hedge the risk associated with rising interest rates and their effect on forecasted interest payments related to variable rate borrowings. These interest rate swaps are designated as cash flow hedges. Thus, the effective portions of changes in the fair value of the hedges are recorded in ”Prepaid expenses and other current assets”, “Other assets, net”, “Other current liabilities” or as “Other liabilities” with an offsetting entry to “Other comprehensive income” at interim periods and are subsequently recognized as interest expense in the consolidated statement of earnings when the forecasted transaction impacts earnings. Changes in the fair value of any cash flow hedges that are considered ineffective are recognized as interest expense on the consolidated statement of earnings as they occur.

(11) Revenue recognition: Revenues from our propane and related equipment sales segment are recognized at the time product is delivered with payments generally due 30 days after receipt. Amounts are considered past due after 30 days. Ferrellgas determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions. Ferrellgas offers “even pay” billing programs that can create customer deposits or advances. Revenue is recognized from these customer deposits or advances to customers at the time product is delivered. Other revenues, which include revenue from the sale of propane appliances and equipment is recognized at the time of delivery or installation. Ferrellgas, L.P. recognizes shipping and handling revenues and expenses for sales of propane, appliances and equipment at the time of delivery or installation. Shipping and handling revenues are included in the price of propane charged to customers, and are classified as revenue. Revenues from annually billed, non-refundable propane tank rentals are recognized in “Revenues: other” on a straight-line basis over one year.

Revenues from our midstream operations segment are recognized when there is persuasive evidence that an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Salt water disposal revenues are based on Ferrellgas L.P.'s published or negotiated water disposal rates. Customers deliver salt water to be disposed to facilities and revenue is recognized when actual volumes of water are off-loaded at the facilities. Skimming oil disposal revenues are determined based on published rates subject to adjustments based on the quality of the oil sold and are recognized when actual volumes are delivered to the customer who determines the quality of the oil and collectability is reasonably assured. Amounts are considered past due after 30 days. Ferrellgas determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions.

(12) Shipping and handling expenses: Shipping and handling expenses related to delivery personnel, vehicle repair and maintenance and general liability expenses within our propane and related equipment sales segment are classified within “Operating expense” in the consolidated statements of earnings. Depreciation expenses on delivery vehicles Ferrellgas, L.P. owns are classified within “Depreciation and amortization expense.” Delivery vehicles and distribution technology leased by Ferrellgas, L.P. are classified within “Equipment lease expense.” See Note E – Supplemental financial statement information – for the financial statement presentation of shipping and handling expenses.

(13) Cost of product sold: “Cost of product sold – propane and other gas liquids sales” includes all costs to acquire propane and other gas liquids, the costs of storing and transporting inventory prior to delivery to Ferrellgas, L.P.’s customers, the results from risk management activities to hedge related price risk and the costs of materials related to the refurbishment of Ferrellgas, L.P.’s portable propane tanks. “Cost of product sold – other” primarily includes costs related to the sale of propane appliances and equipment and supplies and transportation costs related to the processing and disposal of salt water.

(14) Operating expenses: “Operating expense” primarily includes the personnel, vehicle, delivery, handling, plant, office, selling, marketing, credit and collections and other expenses related to the retail distribution of propane and related equipment and supplies and midstream operations segment.

(16) Stock-based plan:

Ferrell Companies, Inc. Incentive Compensation Plan (“ICP”)

The ICP is not a Ferrellgas, L.P. stock-compensation plan; however, in accordance with Ferrellgas, L.P.’s partnership agreements, all Ferrellgas, L.P. employee-related costs incurred by Ferrell Companies are allocated to Ferrellgas, L.P. As a result, Ferrellgas, L.P. incurs a non-cash compensation charge from Ferrell Companies. During the years ended July 31, 2014, 2013 and 2012, the portion of the total non-cash compensation charge relating to the ICP was $24.5 million, $13.5 million and $8.8 million, respectively.

Ferrell Companies is authorized to issue up to 9.25 million stock appreciation rights (“SARs”) that are based on shares of Ferrell Companies common stock. The ICP was established by Ferrell Companies to allow upper-middle and senior level managers as well as directors of the general partner to participate in the equity growth of Ferrell Companies. The ICP awards vest ratably over periods ranging from zero to 12 years or 100% upon a change of control of Ferrell Companies, or upon the death, disability or retirement at the age of 65 of the participant. All awards expire 10 or 15 years from the date of issuance. The fair value of each award is estimated on each balance sheet date using a binomial valuation model.

(17) Income taxes: Ferrellgas, L.P. is a limited partnership and owns three subsidiaries that are taxable corporations. As a result, except for the taxable corporations, Ferrellgas, L.P.’s earnings or losses for federal income tax purposes are included in the tax returns of the individual partners. Accordingly, the accompanying consolidated financial statements of Ferrellgas, L.P. reflect federal income taxes related to the above mentioned taxable corporations and certain states that allow for income taxation of partnerships. Net earnings for financial statement purposes may differ significantly from taxable income reportable to partners as a result of differences between the tax basis and financial reporting basis of assets and liabilities, the taxable income allocation requirements under Ferrellgas, L.P.’s partnership agreement and differences between Ferrellgas, L.P.’s financial reporting year end and limited partners tax year end.

Income tax expense consisted of the following:



	For the year ended July 31,
	2014		2013		2012
Current expense	$	2,383	$	1,705	$	207
Deferred expense	88		133		913
Income tax expense	$	2,471	$	1,838	$	1,120

Deferred taxes consisted of the following:



	July 31,
	2014			2013
Deferred tax assets	$	1,152		$	1,367
Deferred tax liabilities	(4,313		)	(4,602		)
Net deferred tax liability	$	(3,161	)	$	(3,235	)

(18) Sales taxes: Ferrellgas, L.P. accounts for the collection and remittance of sales tax on a net tax basis. As a result, these amounts are not reflected in the consolidated statements of earnings.

(19) New accounting standards:

FASB Accounting Standard Update No. 2010-28

In December 2010, the Financial Accounting Standards Board (“FASB”) issued FASB Accounting Standard Update No. 2010-28 (ASU 2010-28), which modifies Step 1 of the goodwill impairment test for reporting units with zero or negative carrying amounts. For those reporting units, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. Ferrellgas, L.P.’s adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2011-4

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRS.” The amendments result in common fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards (“IFRS”). The new guidance applies to all reporting entities that are required or permitted to measure or disclose the fair value of an asset, liability or an instrument classified in shareholders’ equity. Among other things, the new guidance requires quantitative information about unobservable inputs, valuation processes and sensitivity analysis associated with fair value measurements categorized within Level 3 of the fair value hierarchy. The new guidance is effective for interim periods beginning after December 31, 2011 and is required to be applied prospectively. Ferrellgas, L.P.’s adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update Nos. 2011-05 and 2011-12

In June 2011, the FASB issued ASU 2011-05, which revises the presentation of comprehensive income in the financial statements. The new guidance requires entities to report components of comprehensive income in either a continuous statement of comprehensive income or two separate but consecutive statements. In December 2011, the FASB issued ASU 2011-12, which indefinitely defers certain provisions of ASU 2011-05. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Ferrellgas, L.P.'s adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2011-08

In September 2011, the FASB issued ASU 2011-08, which amends the existing guidance on goodwill impairment testing. Under the new guidance, entities testing goodwill for impairment have the option of performing a qualitative assessment before calculating the fair value of the reporting unit. If an entity determines, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Ferrellgas L.P.'s adoption of this guidance in fiscal 2013 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2012-02

In July 2012, the FASB issued ASU 2012-02, which amends the existing guidance on impairment testing of indefinite-lived intangible assets. Under the new guidance, entities testing indefinite-lived intangible assets for impairment have the option of performing a qualitative assessment before calculating the fair value of the asset. If an entity determines, on the basis of qualitative factors, that the fair value of the asset is more likely than not less than the carrying amount, the two-step impairment test would be required. This guidance is effective for annual and interim indefinite-lived intangible asset impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. Ferrellgas L.P.'s adoption of this guidance in fiscal 2013 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2014-09

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The new standard will supersede much of the existing authoritative literature for revenue recognition. The standard and related amendments will be effective for Ferrellgas L.P. for its annual reporting period beginning August 1, 2017, including interim periods within that reporting period. Early application is not permitted. Entities are allowed to transition to the new standard by either recasting prior periods or recognizing the cumulative effect. Ferrellgas L.P. is currently evaluating the newly issued guidance, including which transition approach will be applied and the estimated impact it will have on our consolidated financial statements.

FASB Accounting Standard Update No. 2014-08

In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, to change the criteria for determining which disposals can be presented as discontinued operations and enhanced the related disclosure requirements. ASU 2014-08 is effective for us on a prospective basis in our first quarter of fiscal 2016 with early adoption permitted for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. Ferrellgas, L.P. is currently evaluating the impact of our pending adoption of ASU 2014-08 on our consolidated financial statements.

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Business Combinations

12 Months Ended

Jul. 31, 2014

Business Combinations

Business combinations

Business combinations are accounted for under the acquisition method of accounting and the assets acquired and liabilities assumed are recorded at their estimated fair market values as of the acquisition dates. The results of operations are included in the consolidated statements of earnings from the date of acquisition. The proforma effect of these transactions was not material to Ferrellgas’ balance sheets or results of operations.

Propane and related equipment sales

During fiscal 2014, Ferrellgas acquired seven propane distribution assets with an aggregate value of $38.7 million in the following transactions:


•	KanGas, based in Kansas, acquired November 2013;


•	Motor Propane, based in Wisconsin, acquired December 2013;


•	Country Boys Propane, based in Georgia, acquired March 2014;


•	Viking Propane, based in California, acquired May 2014;


•	Kaw Valley Propane, based in Kansas, acquired June 2014;


•	Wise Choice Propane, based in Ohio, acquired July 2014; and


•	Sharp Propane, based in Texas, acquired July 2014.

During fiscal 2013, Ferrellgas acquired propane distribution and grilling tool assets with an aggregate value of $39.2 million in the following transactions:


•	Capitol City Propane, based in California, acquired September 2012;


•	Flores Gas, based in Texas, acquired October 2012;


•	IGS Propane, based in Connecticut, acquired December 2012;


•	Mr. Bar-B-Q, based in New York, acquired March 2013; and


•	Western Petroleum, based in Utah, acquired April 2013.

During fiscal 2012, Ferrellgas acquired propane distribution assets with an aggregate value of $14.0 million in the following transactions:


•	Economy Propane, based in California, acquired September 2011;


•	Federal Petroleum Company, based in Texas, acquired October 2011;


•	Polar Gas Company, based in Wisconsin, acquired November 2011;


•	Welch Propane, based in Texas, acquired November 2011; and


•	Rio Grande Valley Gas, based in Texas, acquired January 2012.

The goodwill arising from the propane and related equipment sales acquisitions consists largely of the synergies and economies of scale expected from combining the operations of Ferrellgas and the acquired companies.

Midstream Operations

During fiscal 2014, Ferrellgas acquired salt water disposal assets with an aggregate value of $130.3 million relating to the midstream operations business segment. This included the acquisition in May 2014 of Sable Environmental, LLC and Sable SWD 2, LLC ("Sable"), based in Corpus Christi, Texas and the acquisition of Dietert SWD, based in LaSalle County, Texas. The Sable acquisition was funded through borrowings from the secured credit facility, and subsequently Sable's ownership group purchased $50.0 million of Ferrellgas Partners common units. The excess of purchase consideration over net assets assumed was recorded as goodwill, which represents the strategic value assigned to Sable, including the knowledge and experience of the workforce in place.

These acquisitions, for the propane and related equipment sales and midstream operations reportable segments, respectively, were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2014				2013				2012
	Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Cash payments, net of cash acquired	$	34,219	$	127,785	$	37,186	$	—	$	10,387	$	—
Issuance of liabilities and other costs and considerations	2,942		2,555		2,035		—		2,347		—
Common units, net of issuance costs	1,500		—		—		—		1,300		—
Aggregate fair value of transactions	$	38,661	$	130,340	$	39,221	$	—	$	14,034	$	—

The acquisition of Sable included contingent consideration which requires Ferrellgas to pay the former owners of Sable a multiple for earnings in excess of certain EBITDA targets for each of the first two years following the acquisition date. At the date of acquisition, the potential undiscounted amount of all future payments that Ferrellgas could be required to make under the contingent consideration arrangement is between $0 and $2.0 million based upon management's estimate of the likelihood that the target EBITDA metric will be met and exceeded and the amount by which it could be exceeded at the date of acquisition. See further discussion of the determination of the fair value of the contingent consideration at Note J - Fair Value Measurements.

The aggregate fair values, for the acquisitions in propane and related equipment sales and midstream operations reporting segments, respectively, were allocated as follows:



	For the year ended July 31,
	2014					2013				2012
	Propane and related equipment sales			Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Working capital	$	(919	)	$	490	$	7,302	$	—	$	—	$	—
Customer tanks, buildings, land and other	14,519			622		5,155		—		7,454		—
Salt water disposal wells	—			24,288		—		—		—		—
Goodwill	2,922			16,957		4,640		—		—		—
Customer lists	19,480			64,000		12,211		—		5,574		—
Non-compete agreements	2,659			13,300		944		—		1,006		—
Permits and favorable lease arrangements	—			10,683		—		—		—		—
Other intangibles	—			—		5,678		—		—		—
Trade names & trademarks	—			—		3,291		—		—		—
Aggregate fair value of transactions	$	38,661		$	130,340	$	39,221	$	—	$	14,034	$	—

The estimated fair values and useful lives of assets acquired during fiscal 2014 are based on a preliminary valuations and are subject to final valuation adjustments. Ferrellgas intends to continue its analysis of the net assets of these transactions to determine the final allocation of the total purchase price to the various assets and liabilities acquired. The estimated fair values and useful lives of assets acquired during fiscal 2013 and 2012 are based on internal valuations and included only minor adjustments during the 12 month period after the date of acquisition.

Ferrellgas, L.P. [Member]

Business Combinations

Business combinations

Business combinations are accounted for under the acquisition method of accounting and the assets acquired and liabilities assumed are recorded at their estimated fair market values as of the acquisition dates. The results of operations are included in the consolidated statements of earnings from the date of acquisition. The pro forma effect of these transactions was not material to Ferrellgas, L.P.’s balance sheets or results of operations.

Propane and related equipment sales

During fiscal 2014, Ferrellgas acquired seven propane distribution assets with an aggregate value of $38.7 million in the following transactions:


•	KanGas, based in Kansas, acquired November 2013;


•	Motor Propane, based in Wisconsin, acquired December 2013;


•	Country Boys Propane, based in Georgia, acquired March 2014;


•	Viking Propane, based in California, acquired May 2014;


•	Kaw Valley Propane, based in Kansas, acquired June 2014;


•	Wise Choice Propane, based in Ohio, acquired July 2014; and


•	Sharp Propane, based in Texas, acquired July 2014.

During fiscal 2013, Ferrellgas, L.P. acquired propane distribution and grilling tool assets with an aggregate value of $39.2 million in the following transactions:


•	Capitol City Propane, based in California, acquired September 2012;


•	Flores Gas, based in Texas, acquired October 2012;


•	IGS Propane, based in Connecticut, acquired December 2012;


•	Mr. Bar-B-Q, based in New York, acquired March 2013; and


•	Western Petroleum, based in Utah, acquired April 2013.

During fiscal 2012, Ferrellgas, L.P. acquired propane distribution assets with an aggregate value of $14.0 million in the following transactions:


•	Economy Propane, based in California, acquired September 2011;


•	Federal Petroleum Company, based in Texas, acquired October 2011;


•	Polar Gas Company, based in Wisconsin, acquired November 2011;


•	Welch Propane, based in Texas, acquired November 2011; and


•	Rio Grande Valley Gas, based in Texas, acquired January 2012.

Midstream Operations

During fiscal 2014, Ferrellgas L.P. acquired salt water disposal assets with an aggregate value of $130.3 million relating to the midstream operations business segment. This included the acquisition in May 2014 of Sable Environmental, LLC and Sable SWD 2, LLC ("Sable"), based in Corpus Christi, Texas and the acquisition of Dietert SWD, based in LaSalle County, Texas. The Sable acquisition was funded through borrowings from the secured credit facility, and subsequently Sable's ownership group purchased $50.0 million of Ferrellgas Partners common units. The excess of purchase consideration over net assets assumed was recorded as goodwill, which represents the strategic value assigned to Sable, including the knowledge and experience of the workforce in place.

These acquisitions, for the propane and related equipment sales and midstream operations reportable segments, respectively, were funded as follows:



	For the year ended July 31,
	2014				2013				2012
	Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Cash payments, net of cash acquired	$	34,234	$	127,785	$	37,186	$	—	$	10,400	$	—
Issuance of liabilities and other costs and considerations	2,927		2,555		2,035		—		2,334		—
Contribution of net assets from Ferrellgas Partners	1,500		—		—		—		1,300		—
Aggregate fair value of transactions	$	38,661	$	130,340	$	39,221	$	—	$	14,034	$	—

The acquisition of Sable included contingent consideration which requires Ferrellgas L.P. to pay the former owners of Sable a multiple for earnings in excess of certain EBITDA targets for each of the first two years following the acquisition date. At the date of acquisition, the potential undiscounted amount of all future payments that Ferrellgas L.P. could be required to make under the contingent consideration arrangement is between $0 and $2.0 million based upon management's estimate of the likelihood that the target EBITDA metric will be met and exceeded and the amount by which it could be exceeded at the date of acquisition. See further discussion of the determination of the fair value of the contingent consideration at Note J - Fair Value Measurements.

The aggregate fair values, for the acquisitions in propane and related equipment sales and midstream operations reporting segments, respectively, were allocated as follows:



	For the year ended July 31,
	2014					2013				2012
	Propane and related equipment sales			Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Working capital	$	(919	)	$	490	$	7,302	$	—	$	—	$	—
Customer tanks, buildings, land and other	14,519			622		5,155		—		7,454		—
Salt water disposal wells	—			24,288		—		—		—		—
Goodwill	2,922			16,957		4,640		—		—		—
Customer lists	19,480			64,000		12,211		—		5,574		—
Non-compete agreements	2,659			13,300		944		—		1,006		—
Permits and favorable lease arrangements	—			10,683		—		—		—		—
Other intangibles	—			—		5,678		—		—		—
Trade names & trademarks	—			—		3,291		—		—		—
Aggregate fair value of transactions	$	38,661		$	130,340	$	39,221	$	—	$	14,034	$	—

The estimated fair values and useful lives of assets acquired during fiscal 2014 are based on a preliminary valuations and are subject to final valuation adjustments. Ferrellgas, L.P. intends to continue its analysis of the net assets of these transactions to determine the final allocation of the total purchase price to the various assets and liabilities acquired. The estimated fair values and useful lives of assets acquired during fiscal 2013 and 2012 are based on internal valuations and included only minor adjustments during the 12 month period after the dates of acquisition.

Supplemental Financial Statement Information

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Section 50

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-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

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-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

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-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

+ Details

Quarterly Distributions Of Available Cash	12 Months Ended
Quarterly Distributions Of Available Cash	Jul. 31, 2014
Quarterly Distributions Of Available Cash	Quarterly distributions of available cash Ferrellgas Partners makes quarterly cash distributions of all of its "available cash.” Available cash is defined in the partnership agreement of Ferrellgas Partners as, generally, the sum of its consolidated cash receipts less consolidated cash disbursements and net changes in reserves established by the general partner for future requirements. Reserves are retained in order to provide for the proper conduct of Ferrellgas Partners’ business, or to provide funds for distributions with respect to any one or more of the next four fiscal quarters. Distributions are made within 45 days after the end of each fiscal quarter ending October, January, April and July to holders of record on the applicable record date. Distributions by Ferrellgas Partners in an amount equal to 100% of its available cash, as defined in its partnership agreement, will be made to the common unitholders and the general partner. Additionally, the payment of incentive distributions to the holders of incentive distribution rights will be made to the extent that certain target levels of cash distributions are achieved.
Ferrellgas, L.P. [Member]
Quarterly Distributions Of Available Cash	Quarterly distributions of available cash Ferrellgas, L.P. makes quarterly cash distributions of all of its "available cash." Available cash is defined in the partnership agreement of Ferrellgas, L.P. as, generally, the sum of its consolidated cash receipts less consolidated cash disbursements and net changes in reserves established by the general partner for future requirements. Reserves are retained in order to provide for the proper conduct of Ferrellgas, L.P.’s business, or to provide funds for distributions with respect to any one or more of the next four fiscal quarters. Distributions are made within 45 days after the end of each fiscal quarter ending October, January, April, and July. Distributions by Ferrellgas, L.P. in an amount equal to 100% of its available cash, as defined in its partnership agreement, will be made approximately 99% to Ferrellgas Partners and approximately 1% to the general partner.

Supplemental Financial Statement Information

12 Months Ended

Jul. 31, 2014

Supplemental financial statement information

Inventories consist of the following:



	2014		2013
Propane gas and related products	$	121,111	$	94,946
Appliances, parts and supplies	24,858		22,170
Inventories	$	145,969	$	117,116

In addition to inventories on hand, Ferrellgas enters into contracts primarily to buy propane for supply procurement purposes. Most of these contracts have terms of less than one year and call for payment based on market prices at the date of delivery. All supply procurement fixed price contracts have terms of fewer than 36 months. As of July 31, 2014, Ferrellgas had committed, for supply procurement purposes, to take delivery of approximately 18.3 million gallons of propane at fixed prices.

Property, plant and equipment, net consist of the following:



	Estimated useful lives	2014		2013
Land	Indefinite	$	31,890	$	30,978
Land improvements	2-20	12,812		12,021
Buildings and improvements	20	68,492		67,050
Vehicles, including transport trailers	8-20	95,701		101,224
Bulk equipment and district facilities	5-30	109,739		107,835
Tanks, cylinders and customer equipment	2-30	772,402		767,365
Salt water disposal wells and related equipment	2-23	24,288		—
Computer and office equipment	2-5	116,265		117,718
Construction in progress	n/a	7,029		3,077
		1,238,618		1,207,268
Less: accumulated depreciation		626,831		617,541
Property, plant and equipment, net		$	611,787	$	589,727

Depreciation expense totaled $58.3 million, $59.3 million and $60.0 million for fiscal 2014, 2013 and 2012, respectively.

Other current liabilities consist of the following:



	2014		2013
Accrued interest	$	12,182	$	19,795
Accrued payroll	37,120		30,295
Customer deposits and advances	25,412		20,420
Other	50,447		50,592
Other current liabilities	$	125,161	$	121,102

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



	For the year ended July 31,
	2014		2013		2012
Operating expense	$	190,999	$	181,932	$	177,903
Depreciation and amortization expense	5,829		5,744		6,545
Equipment lease expense	15,807		14,028		12,841
	$	212,635	$	201,704	$	197,289

Ferrellgas, L.P. [Member]

Supplemental Financial Statement Information

Supplemental financial statement information

Inventories consist of the following:



	2014		2013
Propane gas and related products	$	121,111	$	94,946
Appliances, parts and supplies	24,858		22,170
Inventories	$	145,969	$	117,116

In addition to inventories on hand, Ferrellgas, L.P. enters into contracts primarily to buy propane for supply procurement purposes. Most of these contracts have terms of less than one year and call for payment based on market prices at the date of delivery. All supply procurement fixed price contracts have terms of fewer than 36 months. As of July 31, 2014, Ferrellgas, L.P. had committed, for supply procurement purposes, to take delivery of approximately 18.3 million gallons of propane at fixed prices.

Property, plant and equipment, net consist of the following:



	Estimated useful lives	2014		2013
Land	Indefinite	$	31,890	$	30,978
Land improvements	2-20	12,812		12,021
Buildings and improvements	20	68,492		67,050
Vehicles, including transport trailers	8-20	95,701		101,224
Bulk equipment and district facilities	5-30	109,739		107,835
Tanks, cylinders and customer equipment	2-30	772,402		767,365
Salt water disposal wells and related equipment	2-23	24,288		—
Computer and office equipment	2-5	116,265		117,718
Construction in progress	n/a	7,029		3,077
		1,238,618		1,207,268
Less: accumulated depreciation		626,831		617,541
Property, plant and equipment, net		$	611,787	$	589,727

Depreciation expense totaled $58.3 million, $59.3 million and $60.0 million for fiscal 2014, 2013 and 2012, respectively.

Other current liabilities consist of the following:



	2014		2013
Accrued interest	$	10,176	$	17,787
Accrued payroll	37,120		30,295
Customer deposits and advances	25,412		20,420
Other	50,445		50,401
Other current liabilities	$	123,153	$	118,903

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



	For the year ended July 31,
	2014		2013		2012
Operating expense	$	190,999	$	181,932	$	177,903
Depreciation and amortization expense	5,829		5,744		6,545
Equipment lease expense	15,807		14,028		12,841
	$	212,635	$	201,704	$	197,289

Accounts And Notes Receivable, Net And Accounts Receivable Securitization

12 Months Ended

Jul. 31, 2014

Accounts And Notes Receivable, Net And Accounts Receivable Securitization

Accounts and notes receivable, net and accounts receivable securitization

Accounts and notes receivable, net consist of the following:



	2014			2013
Accounts receivable pledged as collateral	$	159,003		$	130,025
Accounts receivable	24,108			4,867
Other	247			506
Less: Allowance for doubtful accounts	(4,756		)	(3,607		)
Accounts and notes receivable, net	$	178,602		$	131,791

During January 2012, Ferrellgas executed a new accounts receivable securitization facility with Wells Fargo Bank, N.A., Fifth Third Bank and SunTrust Bank. This new accounts receivable securitization facility has up to $225.0 million of capacity, matures on January 19, 2017 and replaces Ferrellgas’ previous 364-day facility which was to expire on April 4, 2013. As part of this new facility, Ferrellgas, through Ferrellgas Receivables, securitizes a portion of its trade accounts receivable through a commercial paper conduit for proceeds of up to $225.0 million during the months of January, February, March and December, $175.0 million during the months of April and May and $145.0 million for all other months, depending on the availability of undivided interests in its accounts receivable from certain customers. Borrowings on the new accounts receivable securitization facility bear interest at rates ranging from 1.45% to 1.20% lower than the previous facility. At July 31, 2014, $159.0 million of trade accounts receivable were pledged as collateral against $91.0 million of collateralized notes payable due to the commercial paper conduit. At July 31, 2013, $130.0 million of trade accounts receivable were pledged as collateral against $82.0 million of collateralized notes payable due to the commercial paper conduit. These accounts receivable pledged as collateral are bankruptcy remote from Ferrellgas. Ferrellgas does not provide any guarantee or similar support to the collectability of these accounts receivable pledged as collateral.

Ferrellgas structured Ferrellgas Receivables in order to facilitate securitization transactions while complying with Ferrellgas’ various debt covenants. If the covenants were compromised, funding from the facility could be restricted or suspended, or its costs could increase. As of July 31, 2014, Ferrellgas had received cash proceeds of $91.0 million from trade accounts receivables securitized, with no remaining capacity to receive additional proceeds. As of July 31, 2013, Ferrellgas had received cash proceeds of $82.0 million from trade accounts receivables securitized, with no remaining capacity to receive additional proceeds. Borrowings under the accounts receivable securitization facility had a weighted average interest rate of 2.1% and 2.4% as of July 31, 2014 and 2013, respectively.

Ferrellgas, L.P. [Member]

Accounts And Notes Receivable, Net And Accounts Receivable Securitization

Accounts and notes receivable, net and accounts receivable securitization

Accounts and notes receivable, net consist of the following:



	2014			2013
Accounts receivable pledged as collateral	$	159,003		$	130,025
Accounts receivable	24,108			4,867
Other	247			506
Less: Allowance for doubtful accounts	(4,756		)	(3,607		)
Accounts and notes receivable, net	$	178,602		$	131,791

During January 2012, Ferrellgas, L.P. executed a new accounts receivable securitization facility with Wells Fargo Bank, N.A., Fifth Third Bank and SunTrust Bank. This new accounts receivable securitization facility has up to $225.0 million of capacity, matures on January 19, 2017 and replaces Ferrellgas, L.P.’s previous 364-day facility which was to expire on April 4, 2013. As part of this new facility, Ferrellgas, L.P., through Ferrellgas Receivables, securitizes a portion of its trade accounts receivable through a commercial paper conduit for proceeds of up to $225.0 million during the months of January, February, March and December, $175.0 million during the months of April and May and $145.0 million for all other months, depending on the availability of undivided interests in its accounts receivable from certain customers. Borrowings on the new accounts receivable securitization facility bear interest at rates ranging from 1.45% to 1.20% lower than the previous facility. At July 31, 2014, $159.0 million of trade accounts receivable were pledged as collateral against $91.0 million of collateralized notes payable due to the commercial paper conduit. At July 31, 2013, $130.0 million of trade accounts receivable were pledged as collateral against $82.0 million of collateralized notes payable due to the commercial paper conduit. These accounts receivable pledged as collateral are bankruptcy remote from Ferrellgas, L.P. Ferrellgas, L.P. does not provide any guarantee or similar support to the collectability of these accounts receivable pledged as collateral.

Ferrellgas, L.P. structured Ferrellgas Receivables in order to facilitate securitization transactions while complying with Ferrellgas, L.P.’s various debt covenants. If the covenants were compromised, funding from the facility could be restricted or suspended, or its costs could increase. As of July 31, 2014, Ferrellgas, L.P. had received cash proceeds of $91.0 million from trade accounts receivables securitized, with no remaining capacity to receive additional proceeds. As of July 31, 2013, Ferrellgas, L.P. had received cash proceeds of $82.0 million from trade accounts receivables securitized, with no remaining capacity to receive additional proceeds. Borrowings under the accounts receivable securitization facility had a weighted average interest rate of 2.1% and 2.4% as of July 31, 2014 and 2013, respectively.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References+ Details

Goodwill And Intangible Assets, Net

12 Months Ended

Jul. 31, 2014

Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:



	July 31, 2014							July 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	273,210	$	—		$	273,210	$	253,362	$	—		$	253,362

Intangible assets, net
Amortized intangible assets
Customer related	$	500,100	$	(322,277	)	$	177,823	$	416,620	$	(302,179	)	$	114,441
Non-compete agreements	63,933		(43,120		)	20,813		47,974		(40,994		)	6,980
Permits and favorable lease arrangements	10,683		(119		)	10,564		—		—			—
Other	9,177		(4,592		)	4,585		9,172		(3,445		)	5,727
	583,893		(370,108		)	213,785		473,766		(346,618		)	127,148

Unamortized intangible assets
Trade names & trademarks	62,386					62,386		62,368					62,368
Total intangible assets, net	$	646,279	$	(370,108	)	$	276,171	$	536,134	$	(346,618	)	$	189,516

Changes in the carrying amount of goodwill, by reportable segment, are as follows:



	Propane and related equipment sales			Midstream operations		Total
Balance July 31, 2012	$	248,944		$	—	$	248,944
Acquisitions	4,640			—		4,640
Other	(222		)	—		(222		)
Balance July 31, 2013	253,362			—		253,362
Acquisitions	2,922			16,957		19,879
Other	(31		)	—		(31		)
Balance July 31, 2014	$	256,253		$	16,957	$	273,210

Customer related intangible assets have estimated lives of 12 to 15 years, permits and favorable lease arrangements have estimated lives of 15 years while non-compete agreements and other intangible assets have estimated lives ranging from two 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, permits and favorable lease arrangements non-compete agreements and other intangibles carry a weighted average life of eleven years, fifteen years, seven years and six years, respectively.



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2014	$	23,490
2013	21,725
2012	21,604



Estimated amortization expense:
For the year ended July 31,
2015	$	27,950
2016	26,164
2017	25,589
2018	23,034
2019	17,247

Ferrellgas, L.P. [Member]

Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:



	July 31, 2014							July 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	273,210	$	—		$	273,210	$	253,362	$	—		$	253,362

Intangible assets, net
Amortized intangible assets
Customer related	$	500,100	$	(322,277	)	$	177,823	$	416,620	$	(302,179	)	$	114,441
Non-compete agreements	63,933		(43,120		)	20,813		47,974		(40,994		)	6,980
Permits and favorable lease arrangements	10,683		(119		)	10,564		—		—			—
Other	9,177		(4,592		)	4,585		9,172		(3,445		)	5,727
	583,893		(370,108		)	213,785		473,766		(346,618		)	127,148

Unamortized intangible assets
Trade names & trademarks	62,386					62,386		62,368					62,368
Total intangible assets, net	$	646,279	$	(370,108	)	$	276,171	$	536,134	$	(346,618	)	$	189,516

Changes in the carrying amount of goodwill, by reportable segment, are as follows:



	Propane and related equipment sales			Midstream operations		Total
Balance July 31, 2012	$	248,944		$	—	$	248,944
Acquisitions	4,640			—		4,640
Other	(222		)	—		(222		)
Balance July 31, 2013	253,362			—		253,362
Acquisitions	2,922			16,957		19,879
Other	(31		)	—		(31		)
Balance July 31, 2014	$	256,253		$	16,957	$	273,210

Customer related intangibles have estimated lives of 12 to 15 years, permits and favorable lease arrangements have estimated lives of 15 years while non-compete agreements and other intangible assets have estimated lives ranging from two to 10 years. Ferrellgas, L.P. 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, permits and favorable lease arrangements, non-compete agreements and other intangibles carry a weighted average life of eleven years, fifteen years, seven years and six years, respectively.



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2014	$	23,490
2013	21,725
2012	21,604



Estimated amortization expense:
For the year ended July 31,
2015	$	27,950
2016	26,164
2017	25,589
2018	23,034
2019	17,247

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

Debt

12 Months Ended

Jul. 31, 2014

Debt

Short-term borrowings

Ferrellgas classified a portion of its secured credit facility borrowings as short-term because it was used to fund working capital needs that management had intended to pay down within the 12 month period following each balance sheet date. As of July 31, 2014 and 2013, $69.5 million and $50.1 million, respectively, were classified as short-term borrowings. For further discussion see the secured credit facility section below.

Long-term debt

Long-term debt consists of the following:



	2014			2013
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000		$	500,000
Fixed rate, 6.75%, due 2022, net of unamortized premium of $5,863 (3)	480,863			—
Fixed rate, 9.125%, due 2017, net of unamortized discount of $2,556 at July 31, 2013	—			297,444
Fixed rate, 8.625%, due 2020 (2)	182,000			182,000
Fair value adjustments related to interest rate swaps	(2,534		)	(1,657		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $69.5 million and $50.1 million classified as short-term borrowings at July 31, 2014 and 2013, respectively)	123,781			121,346

Notes payable
8.8% and 9.1% weighted average interest rate at July 31, 2014 and 2013, respectively, due 2014 to 2022, net of unamortized discount of $2,239 and $2,392 at July 31, 2014 and 2013, respectively	11,727			10,898
	1,295,837			1,110,031
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,623			3,091
Long-term debt	$	1,292,214		$	1,106,940

(1)

During November 2010, Ferrellgas issued $500.0 million in aggregate principal amount of 6.50% senior notes due 2021 at an offering price equal to par. These notes are general unsecured senior obligations of Ferrellgas and are effectively junior to all future senior secured indebtedness of Ferrellgas, to the extent of the value of the assets securing the debt, and are structurally subordinated to all existing and future indebtedness and obligations of the operating partnership. The senior notes bear interest from the date of issuance, payable semi-annually in arrears on May 1 and November 1 of each year. The outstanding principal amount is due on May 1, 2021. Ferrellgas would incur prepayment penalties if it were to repay the notes prior to 2019.


(2)	During April 2010, Ferrellgas issued $280.0 million of its fixed rate senior notes. The senior notes bear interest from the date of issuance, payable semi-annually in arrears on June 15 and December 15 of each year. Ferrellgas would incur prepayment penalties if it were to repay the notes prior to 2018. During March 2011, Ferrellgas redeemed $98.0 million of these fixed rate senior notes.

(3)

During November 2013, Ferrellgas issued $325.0 million in aggregate principal amount of 6.75% senior notes due 2022 at an offering price equal to par. Ferrellgas received $319.3 million of net proceeds after deducting underwriters' fees. Ferrellgas used the net proceeds to redeem all of its $300.0 million 9.125% fixed rate senior notes due October 1, 2017. Ferrellgas used the remaining proceeds to pay the related $14.7 million make whole and consent payments, $3.3 million in interest payments and to reduce outstanding indebtedness under the secured credit facility. This redemption also resulted in $6.0 million of non-cash write-offs of unamortized debt discount and related capitalized debt costs. The make whole and consent payments and the non-cash write-offs of unamortized debt discount and related capitalized debt costs are classified as loss on extinguishment of debt. During June 2014, Ferrellgas issued an additional $150.0 million in aggregate principal amount of 6.75% senior notes due 2022 at an offering price equal to 104% of par. Ferrellgas used the net proceeds for general corporate purposes, including to repay indebtedness under its secured credit facility and to pay related transaction fees and expenses.

Secured credit facility

During October 2013, Ferrellgas executed a second amendment to its secured credit facility. This amendment extended the maturity date to October 2018, increased the size of the facility from $400.0 million to $500.0 million with no change to the size of the letter of credit sublimit which remains at $200.0 million and decreased interest rates by 0.25%. Ferrellgas incurred a loss on extinguishment of debt of $0.3 million related to the writeoff of capitalized financing costs.

During June 2014, Ferrellgas executed a third amendment to its secured credit facility. This amendment increased the size of this facility from $500.0 million to $600.0 million with no change to the size of the letter of credit sublimit which remains at $200.0 million. This amendment did not change the interest rate or the maturity date of the secured credit facility which remains at October 2018. Borrowings under this amended facility are available for working capital needs, capital expenditures and other general partnership purposes, including the refinancing of existing indebtedness.

The secured credit facility contains various affirmative and negative covenants and default provisions, as well as requirements with respect to the maintenance of specified financial ratios and limitations on the making of loans and investments.

As of July 31, 2014, Ferrellgas had total borrowings outstanding under its secured credit facility of $193.3 million, of which $123.8 million was classified as long-term debt. As of July 31, 2013, Ferrellgas had total borrowings outstanding under its secured credit facility of $171.4 million, of which $121.3 million was classified as long-term debt.

Borrowings outstanding at July 31, 2014 and 2013 under the secured credit facility had a weighted average interest rate of 3.4% and 3.7%, respectively. All borrowings under the secured credit facility bear interest, at Ferrellgas’ option, at a rate equal to either:


•	for Base Rate Loans or Swing Line Loans, the Base Rate, which is defined as the higher of i) the federal funds rate plus 0.50%, ii) Bank of America’s prime rate; or iii) the Eurodollar Rate plus 1.00%; plus a margin varying from 0.75% to 1.75% (as of July 31, 2014 and 2013, the margin was 1.25% and 1.75%, respectively); or


•	for Eurodollar Rate Loans, the Eurodollar Rate, which is defined as the LIBOR Rate plus a margin varying from 1.75% to 2.75% (as of July 31, 2014 and 2013, the margin was 2.25% and 2.75%, respectively).

As of July 31, 2014, the federal funds rate and Bank of America’s prime rate were 0.09% and 3.25%, respectively. As of July 31, 2013, the federal funds rate and Bank of America’s prime rate were 0.09% and 3.25%, respectively. As of July 31, 2014, the one-month and three-month Eurodollar Rates were 0.17% and 0.24%, respectively. As of July 31, 2013, the one-month and three-month Eurodollar Rates were 0.22% and 0.28%, respectively.

In addition, an annual commitment fee is payable at a per annum rate range from 0.35% to 0.50% times the actual daily amount by which the facility exceeds the sum of (i) the outstanding amount of revolving credit loans and (ii) the outstanding amount of letter of credit obligations.

The obligations under this credit facility are secured by substantially all assets of Ferrellgas, the general partner and certain subsidiaries of Ferrellgas but specifically excluding (a) assets that are subject to Ferrellgas’ accounts receivable securitization facility, (b) the general partner’s equity interest in Ferrellgas Partners and (c) equity interest in certain unrestricted subsidiaries. Such obligations are also guaranteed by the general partner and certain subsidiaries of Ferrellgas.

Letters of credit outstanding at July 31, 2014 totaled $56.3 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. Letters of credit outstanding at July 31, 2013 totaled $53.9 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. At July 31, 2014, Ferrellgas had available letter of credit remaining capacity of $143.7 million. At July 31, 2013, Ferrellgas had available letter of credit remaining capacity of $146.1 million. Ferrellgas incurred commitment fees of $1.2 million, $0.9 million and $0.9 million in fiscal 2014, 2013 and 2012, respectively.

Interest rate swaps

During May 2012, Ferrellgas entered into a $140.0 million interest rate swap agreement to hedge against changes in fair value on a portion of its $300.0 million 9.125% fixed rate senior notes due 2017. Ferrellgas receives 9.125% and pays one-month LIBOR plus 7.96%, on the $140.0 million swapped. In October 2013, this interest rate swap was terminated. As a result, Ferrellgas discontinued hedge accounting treatment for this agreement at a cost of $0.2 million, which was classified as loss on extinguishment of debt when the related senior notes were redeemed as discussed above. Ferrellgas accounted for this agreement as a fair value hedge. In May 2012, Ferrellgas also entered into a $140.0 million interest rate swap agreement to hedge against changes in fair value on a portion of its $500.0 million 6.5% fixed rate senior notes due 2021. Ferrellgas receives 6.5% and pays a one-month LIBOR plus 4.715%, on the $140.0 million swapped. Ferrellgas accounts for this agreement as a fair value hedge.

In May 2012, Ferrellgas entered into a forward interest rate swap agreement to hedge against variability in forecasted interest payments on Ferrellgas’ secured credit facility and collateralized note payable borrowings under the accounts receivable securitization facility. From August 2015 through July 2017, Ferrellgas will pay 1.95% and receive variable payments based on one-month LIBOR for the notional amount of $175.0 million. From August 2017 through July 2018, Ferrellgas will pay 1.95% and receive variable payments based on one-month LIBOR for the notional amount of $100.0 million. Ferrellgas has accounted for this agreement as a cash flow hedge.

Covenants

The senior notes and the credit facility agreement contain various restrictive covenants applicable to Ferrellgas and its subsidiaries, the most restrictive relating to additional indebtedness. In addition, Ferrellgas is prohibited from making cash distributions of the minimum quarterly distribution if a default or event of default exists or would exist upon making such distribution, or if Ferrellgas fails to meet certain coverage tests. As of July 31, 2014, Ferrellgas is in compliance with all requirements, tests, limitations and covenants related to these debt agreements.

As a result of the above transactions, the scheduled annual principal payments on long-term debt have been updated as follows:



For the year ending July 31,	Scheduled annual principal payments
2015	$	3,623
2016	3,523
2017	3,186
2018	1,704
2019	124,855
Thereafter	1,157,856
Total	$	1,294,747

Ferrellgas, L.P. [Member]

Debt

Short-term borrowings

Ferrellgas, L.P. classified a portion of its secured credit facility borrowings as short-term because it was used to fund working capital needs that management had intended to pay down within the 12 month period following each balance sheet date. As of July 31, 2014 and 2013, $69.5 million and $50.1 million, respectively, were classified as short-term borrowings. For further discussion see the secured credit facility section below.

Long-term debt

Long-term debt consists of the following:



	2014			2013
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000		$	500,000
Fixed rate, 6.75%, due 2022, net of unamortized premium of $5,863 (2)	480,863			—
Fixed rate, 9.125%, due 2017, net of unamortized discount of $2,556 at July 31, 2013	—			297,444
Fair value adjustments related to interest rate swaps	(2,534		)	(1,657		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $69.5 million and $50.1 million classified as short-term borrowings at July 31, 2014 and 2013, respectively)	123,781			121,346

Notes payable
8.8% and 9.1% weighted average interest rate at July 31, 2014 and 2013, respectively, due 2014 to 2022, net of unamortized discount of $2,239 and $2,392 at July 31, 2014 and 2013, respectively	11,727			10,898
	1,113,837			928,031
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,623			3,091
Long-term debt	$	1,110,214		$	924,940

(1)

During November 2010, Ferrellgas L.P. issued $500.0 million in aggregate principal amount of new 6.50% senior notes due 2021 at an offering price equal to par. These notes are general unsecured senior obligations of Ferrellgas L.P. and are effectively junior to all future senior secured indebtedness of Ferrellgas L. P., to the extent of the value of the assets securing the debt, and are structurally subordinated to all existing and future indebtedness and obligations of Ferrellgas L.P. The senior notes bear interest from the date of issuance, payable semi-annually in arrears on May 1 and November 1 of each year. The outstanding principal amount is due on May 1, 2021. Ferrellgas L.P. would incur prepayment penalties if it were to repay the notes prior to 2019.

(2)

During November 2013, Ferrellgas L.P. issued $325.0 million in aggregate principal amount of 6.75% senior notes due 2022 at an offering price equal to par. Ferrellgas L.P. received $319.3 million of net proceeds after deducting underwriters' fees. Ferrellgas L.P. used the net proceeds to redeem all of its $300.0 million 9.125% fixed rate senior notes due October 1, 2017. Ferrellgas L.P. used the remaining proceeds to pay the related $14.7 million make whole and consent payments, $3.3 million in interest payments and to reduce outstanding indebtedness under the secured credit facility. This redemption also resulted in $6.0 million of non-cash write-offs of unamortized debt discount and related capitalized debt costs. The make whole and consent payments and the non-cash write-offs of unamortized debt discount and related capitalized debt costs are classified as loss on extinguishment of debt. During June 2014, Ferrellgas L.P. issued an additional $150.0 million in aggregate principal amount of 6.75% senior notes due 2022 at an offering price equal to 104% of par. Ferrellgas, L.P. used the net proceeds for general corporate purposes, including to repay indebtedness under its secured credit facility and to pay related transaction fees and expenses.

Secured credit facility

During October 2013, Ferrellgas L.P. executed a second amendment to its secured credit facility. This amendment extended the maturity date to October 2018, increased the size of the facility from $400.0 million to $500.0 million with no change to the size of the letter of credit sublimit which remains at $200.0 million and decreased interest rates by 0.25%. Ferrellgas, L.P. incurred a loss on extinguishment of debt of $0.3 million related to the writeoff of capitalized financing costs.

During June 2014, Ferrellgas L.P. executed a third amendment to its secured credit facility. This amendment increased the size of this facility from $500.0 million to $600.0 million with no change to the size of the letter of credit sublimit which remains at $200.0 million. This amendment did not change the interest rate or the maturity date of the secured credit facility which remains at October 2018. Borrowings under this amended facility are available for working capital needs, capital expenditures and other general partnership purposes, including the refinancing of existing indebtedness.

As of July 31, 2014, Ferrellgas, L.P. had total borrowings outstanding under its secured credit facility of $193.3 million, of which $123.8 million was classified as long-term debt. As of July 31, 2013, Ferrellgas, L.P. had total borrowings outstanding under its secured credit facility of $171.4 million, of which $121.3 million was classified as long-term debt.


•	for Base Rate Loans or Swing Line Loans, the Base Rate, which is defined as the higher of i) the federal funds rate plus 0.50%, ii) Bank of America’s prime rate; or iii) the Eurodollar Rate plus 1.00%; plus a margin varying from 0.75% to 1.75% (as of July 31, 2014 and 2013, the margin was 1.25% and 1.75%, respectively); or


•	for Eurodollar Rate Loans, the Eurodollar Rate, which is defined as the LIBOR Rate plus a margin varying from 1.75% to 2.75% (as of July 31, 2014 and 2013, the margin was 2.25% and 2.75%, respectively).

The obligations under this credit facility are secured by substantially all assets of Ferrellgas, L.P., the general partner and certain subsidiaries of Ferrellgas, L.P. but specifically excluding (a) assets that are subject to Ferrellgas, L.P.’s accounts receivable securitization facility, (b) the general partner’s equity interest in Ferrellgas Partners and (c) equity interest in certain unrestricted subsidiaries. Such obligations are also guaranteed by the general partner and certain subsidiaries of Ferrellgas, L.P.

Letters of credit outstanding at July 31, 2014 totaled $56.3 million and were used primarily to secure insurance arrangements and to a lesser extent, commodity hedges and product purchases. Letters of credit outstanding at July 31, 2013 totaled $53.9 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. At July 31, 2014, Ferrellgas, L.P. had available letter of credit remaining capacity of $143.7 million. At July 31, 2013 Ferrellgas, L.P. had available letter of credit remaining capacity of $146.1 million. Ferrellgas, L.P. incurred commitment fees of $1.2 million, $0.9 million and $0.9 million in fiscal 2014, 2013 and 2012, respectively.

Interest rate swaps

In May 2012, Ferrellgas, L.P. entered into a $140.0 million interest rate swap agreement to hedge against changes in fair value on a portion of its $300.0 million 9.125% fixed rate senior notes due 2017. Beginning in May 2012, Ferrellgas, L.P. will receive 9.125% and will pay one-month LIBOR plus 7.96%, on the $140.0 million swapped. In October 2013, this interest rate swap was terminated. As a result, the operating partnership discontinued hedge accounting treatment for this agreement at a cost of $0.2 million,, which was classified as loss on extinguishment of debt when the related senior notes were redeemed as discussed above. The operating partnership accounted for this agreement as a fair value hedge. In May 2012, Ferrellgas, L.P. also entered into a $140.0 million interest rate swap agreement to hedge against changes in fair value on a portion of its $500.0 million 6.5% fixed rate senior notes due 2021. Beginning in May 2012, Ferrellgas, L.P. will receive 6.5% and will pay a one-month LIBOR plus 4.715%, on the $140.0 million swapped. The operating partnership accounts for this agreement as a fair value hedge.

In May 2012, Ferrellgas, L.P. entered into a forward interest rate swap agreement to hedge against variability in forecasted interest payments on Ferrellgas, L.P.’s secured credit facility and collateralized note payable borrowings under the accounts receivable securitization facility. From August 2015 through July 2017, Ferrellgas, L.P. will pay 1.95% and receive variable payments based on one-month LIBOR for the notional amount of $175.0 million. From August 2017 through July 2018, Ferrellgas, L.P. will pay 1.95% and receive variable payments based on one-month LIBOR for the notional amount of $100.0 million. Ferrellgas, L.P. has accounted for this agreement as a cash flow hedge.

Covenants

The senior notes and the credit facility agreement contain various restrictive covenants applicable to Ferrellgas, L.P. and its subsidiaries, the most restrictive relating to additional indebtedness. In addition, Ferrellgas, L.P. is prohibited from making cash distributions if a default or event of default exists or would exist upon making such distribution, or if Ferrellgas, L.P. fails to meet certain coverage tests. As of July 31, 2014, Ferrellgas, L.P. is in compliance with all requirements, tests, limitations and covenants related to these debt agreements.

The scheduled annual principal payments on long-term debt are as follows:



For the year ending July 31,	Scheduled annual principal payments
2015	$	3,623
2016	3,523
2017	3,186
2018	1,704
2019	124,855
Thereafter	975,856
Total	$	1,112,747

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Partners' Capital

12 Months Ended

Jul. 31, 2014

Partners' Capital

Partners' deficit

As of July 31, 2014 and 2013, limited partner units were beneficially owned by the following:



	2014	2013
Public common unitholders (1)	55,153,208	52,997,790
Ferrell Companies (2)	21,469,664	21,469,664
FCI Trading Corp. (3)	195,686	195,686
Ferrell Propane, Inc. (4)	51,204	51,204
James E. Ferrell (5)	4,358,475	4,358,475


(1)	These common units are listed on the New York Stock Exchange under the symbol “FGP.”

(2)

Ferrell Companies is the owner of the general partner and a 26.4% direct owner of Ferrellgas Partner’s common units and thus a related party. Ferrell Companies also beneficially owns 195,686 and 51,204 common units of Ferrellgas Partners held by FCI Trading Corp. (“FCI Trading”) and Ferrell Propane, Inc. (“Ferrell Propane”), respectively, bringing Ferrell Companies’ total beneficial ownership to 26.7%.


(3)	FCI Trading is an affiliate of the general partner and thus a related party.


(4)	Ferrell Propane is controlled by the general partner and thus a related party.


(5)	James E. Ferrell (“Mr. Ferrell”) is the Chairman of the Board of Directors of the general partner and a related party.

Together these limited partner units represent Ferrellgas Partner’s limited partners’ interest and an effective 98% economic interest in Ferrellgas Partners, exclusive of the general partners’ incentive distribution rights. The general partner has an effective 2% interest in Ferrellgas Partners, excluding incentive distribution rights. Since ongoing distributions have not yet reached the levels required to commence payment of incentive distribution rights to the general partner, distributions to the partners from operations or interim capital transactions will generally be made in accordance with the above percentages. In liquidation, allocations and distributions will be made in accordance with each common unitholder’s positive capital account.

The common units of Ferrellgas Partners represent limited partner interests in Ferrellgas Partners, which give the holders thereof the right to participate in distributions made by Ferrellgas Partners and to exercise the other rights or privileges available to such holders under the Fourth Amended and Restated Agreement of Limited Partnership of Ferrellgas Partners, L.P. dated February 18, 2003, as amended (the “Partnership Agreement”). Under the terms of the Partnership Agreement, holders of common units have limited voting rights on matters affecting the business of Ferrellgas Partners. Generally, persons owning 20% or more of Ferrellgas Partners’ outstanding common units cannot vote; however, this limitation does not apply to those common units owned by the general partner or its “affiliates,” as such term is defined in the Partnership Agreement.

Ferrellgas maintains shelf registration statements for the issuance of common units, and other securities that may include deferred participation units, warrants and debt securities. The Partnership Agreement allows the general partner to issue an unlimited number of additional Ferrellgas general and limited partner interests and other equity securities of Ferrellgas Partners for such consideration and on such terms and conditions as shall be established by the general partner without the approval of any unitholders.

Partnership distributions paid

Ferrellgas Partners has paid the following distributions:



	For the year ended July 31,
	2014		2013		2012
Public common unitholders	$	107,164	$	105,934	$	104,192
Ferrell Companies	42,939		42,939		41,550
FCI Trading Corp.	392		392		392
Ferrell Propane, Inc.	104		104		104
James E. Ferrell	8,717		8,717		8,717
General partner	1,609		1,596		1,565
	$	160,925	$	159,682	$	156,520

On August 21, 2014, Ferrellgas Partners declared a cash distribution of $0.50 per common unit for the three months ended July 31, 2014, which was paid on September 12, 2014. Included in this cash distribution were the following amounts paid to related parties:



Ferrell Companies	$	11,265
FCI Trading Corp.	98
Ferrell Propane, Inc.	26
James E. Ferrell	2,179
General partner	418

See additional discussions about transactions with related parties in Note L – Transactions with related parties.

Common unit issuances

During fiscal 2014, Ferrellgas Partners, entered into an agreement with the former owners of Sable relating to a non-brokered registered direct offering of 2.0 million common units. Net proceeds of $50.0 million were used to reduce outstanding indebtedness under Ferrellgas’ secured credit facility initially used to fund the Sable acquisition.

During fiscal 2014 Ferrellgas issued 0.1 million common units valued at $1.5 million in connection with acquisitions of propane distribution assets.

During fiscal 2012, Ferrellgas Partners, in a non-brokered registered direct offering, issued to Ferrell Companies 1.4 million common units. Net proceeds of approximately $25.0 million were used to reduce outstanding indebtedness under Ferrellgas’ secured credit facility.

During fiscal 2012, Ferrellgas Partners entered into an agreement with an institutional investor relating to a non-brokered registered direct offering of 1.5 million common units. Net proceeds of approximately $25.0 million were used to reduce outstanding indebtedness under Ferrellgas’ secured credit facility.

Accumulated Other Comprehensive Income (Loss) (“AOCI”)

See Note K – Derivative instruments and hedging activities – for details regarding changes in fair value on risk management financial derivatives recorded within AOCI for the years ended July 31, 2014 and 2013.

General partner’s commitment to maintain its capital account

Ferrellgas’ partnership agreements allows the general partner to have an option to maintain its effective 2% general partner interest concurrent with the issuance of other additional equity.

During fiscal 2014, the general partner made cash contributions of $1.1 million and non-cash contributions of $0.9 million to Ferrellgas to maintain its effective 2% general partner interest.

During fiscal 2013, the general partner made cash contributions of $18 thousand and non-cash contributions of $0.6 million to Ferrellgas to maintain its effective 2% general partner interest.

Ferrellgas, L.P. [Member]

Partners' Capital

Partners’ capital

Partnership distributions paid

Ferrellgas, L.P. has paid the following distributions:



	For the year ended July 31,
	2014		2013		2012
Ferrellgas Partners	$	176,623	$	175,380	$	172,218
General partner	1,803		1,790		1,757

On August 21, 2014, Ferrellgas, L.P. declared distributions for the three months ended July 31, 2014 to Ferrellgas Partners and the general partner of $41.8 million and $0.4 million, respectively, which were paid on September 12, 2014.

Partnership contributions

During fiscal 2014 and 2013, Ferrellgas, L.P. received cash contributions of $51.1 million and $0.8 million, respectively, from Ferrellgas Partners. The proceeds were used to reduce outstanding indebtedness under Ferrellgas, L.P.’s secured credit facility.

During fiscal 2014 Ferrellgas, L.P. received asset contributions of $1.5 million from Ferrellgas Partners in connection with acquisitions of propane distribution assets.

See additional discussions about transactions with related parties in Note L – Transactions with related parties.

Accumulated other comprehensive income (loss) (“AOCI”)

General partner’s commitment to maintain its capital account

Ferrellgas, L.P.’s partnership agreement allows the general partner to have an option to maintain its 1.0101% general partner interest concurrent with the issuance of other additional equity.

During fiscal 2014, the general partner made cash contributions of $0.5 million and non-cash contributions of $0.5 million to Ferrellgas, L.P. to maintain its 1.0101% general partner interest.

During fiscal 2013, the general partner made cash contributions of $9 thousand and non-cash contributions of $0.3 million to Ferrellgas, L.P. to maintain its 1.0101% general partner interest.

The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units.

+ References+ Details

Fair Value Measurements

12 Months Ended

Jul. 31, 2014

Fair Value Measurements

Fair value measurements

Derivative Financial Instruments

The following table presents Ferrellgas’ financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of July 31, 2014 and 2013:



	Asset (Liability)
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total
July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Propane commodity derivatives	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Propane commodity derivatives	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

July 31, 2013:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	3,783		$	—		$	3,783
Commodity derivatives propane swaps	$	—	$	2,532		$	—		$	2,532
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,998	)	$	—		$	(4,998	)
Commodity derivatives propane swaps	$	—	$	(907	)	$	—		$	(907	)

The following is a reconciliation of the opening and closing balances for the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ended July 31, 2014:



	Contingent consideration liability
Balance at July 31, 2013	$	—
Estimated value at acquisition	1,400
Increase in fair value related to accretion	110
Change in fair value included in earnings	4,890
Balance at July 31, 2014	$	6,400

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2014

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

6,400

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

10% - 70%

N/A

The valuation of the contingent consideration is based on unobservable inputs such as Ferrellgas' weighted average cost of capital and the likelihood of the acquired company meeting earnings thresholds. As of July 31, 2014, fluctuations in these inputs could have the following effect (in thousands):



	Increase/(decrease)
	5% increase in WACC			5% decrease in WACC		10% increase in best earnings forecast probability		10% decrease in best earnings forecast probability
Change in the fair value of contingent consideration	$	(470	)	$	400	$	840	$	(1,010	)

Methodology

The fair values of Ferrellgas’ non-exchange traded commodity derivative contracts are based upon indicative price quotations available through brokers, industry price publications or recent market transactions and related market indicators. The fair values of interest rate swap contracts are based upon third-party quotes or indicative values based on recent market transactions.

The fair value of Ferrellgas' contingent consideration for the Sable acquisition is based upon our estimate of the likelihood that the target EBITDA metric will be met and exceeded and the amount by which it could be exceeded then discounting that value at a risk- and inflation-adjusted rate. The inputs to this model are the likelihood of meeting and exceeding the target EBITDA metric and discount rate. Management and the sellers prepared an operating forecast based on Sable's operating capacities, historical performance, and projected oil and water volumes and set a target EBITDA metric. Management then assessed the likelihood of this target EBITDA metric being achieved and exceeded and assigned probabilities to various potential outcomes. To determine the appropriate discount rate, management used observable inputs such as inflation rates, short and long-term yields for U.S. government securities and our nonperformance risk. Due to the significant unobservable inputs required in this measurement, management determined that the fair value measurement of the contingent consideration liability is level 3 in the fair value hierarchy.

Other Financial Instruments

The carrying amounts of other financial instruments included in current assets and current liabilities (except for current maturities of long-term debt) approximate their fair values because of their short-term nature. At July 31, 2014 and July 31, 2013, the estimated fair value of Ferrellgas’ long-term debt instruments was $1,408.2 million and $1,186.7 million, respectively. Ferrellgas estimates the fair value of long-term debt based on quoted market prices. The fair value of our consolidated debt obligations is a Level 2 valuation based on the observable inputs used for similar liabilities.

Ferrellgas has other financial instruments such as trade accounts receivable which could expose it to concentrations of credit risk. The credit risk from trade accounts receivable is limited because of a large customer base which extends across many different U.S. markets.

Ferrellgas, L.P. [Member]

Fair Value Measurements

Fair value measurements

Derivative Financial Instruments

The following table presents Ferrellgas L.P.’s financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of July 31, 2014 and 2013:



	Asset (Liability)
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total
July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Commodity derivatives propane swaps	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Commodity derivatives propane swaps	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

July 31, 2013:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	3,783		$	—		$	3,783
Commodity derivatives propane swaps	$	—	$	2,532		$	—		$	2,532
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,998	)	$	—		$	(4,998	)
Commodity derivatives propane swaps	$	—	$	(907	)	$	—		$	(907	)



	Contingent consideration liability
Balance at July 31, 2013	$	—
Estimated value at acquisition	1,400
Increase in fair value related to accretion	110
Change in fair value included in earnings	4,890
Balance at July 31, 2014	$	6,400

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2014

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

6,400

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

10% - 70%

N/A



	Increase/(decrease)
	5% increase in WACC			5% decrease in WACC		10% increase in best earnings forecast probability		10% decrease in best earnings forecast probability
Change in the fair value of contingent consideration	$	(470	)	$	400	$	840	$	(1,010	)

Methodology

The fair values of Ferrellgas L.P.’s non-exchange traded commodity derivative contracts are based upon indicative price quotations available through brokers, industry price publications or recent market transactions and related market indicators. The fair values of interest rate swap contracts are based upon third-party quotes or indicative values based on recent market transactions.

The fair value of Ferrellgas L.P.'s contingent consideration for the Sable acquisition is based upon our estimate of the likelihood that the target EBITDA metric will be met and exceeded and the amount by which it could be exceeded then discounting that value at a risk- and inflation-adjusted rate. The inputs to this model are the likelihood of meeting and exceeding the target EBITDA metric and discount rate. Management and the sellers prepared an operating forecast based on Sable's operating capacities, historical performance, and projected oil and water volumes and set a target EBITDA metric. Management then assessed the likelihood of this target EBITDA metric being achieved and exceeded and assigned probabilities to various potential outcomes. To determine the appropriate discount rate, management used observable inputs such as inflation rates, short and long-term yields for U.S. government securities and our nonperformance risk. Due to the significant unobservable inputs required in this measurement, management determined that the fair value measurement of the contingent consideration liability is level 3 in the fair value hierarchy.

Other Financial Instruments

The carrying amounts of other financial instruments included in current assets and current liabilities (except for current maturities of long-term debt) approximate their fair values because of their short-term nature. At July 31, 2014 and July 31, 2013, the estimated fair value of Ferrellgas L.P.’s long-term debt instruments was $1,215.3 million and $999.2 million, respectively. Ferrellgas estimates the fair value of long-term debt based on quoted market prices. The fair value of our consolidated debt obligations is a Level 2 valuation based on the observable inputs used for similar liabilities.

Ferrellgas L.P. has other financial instruments such as trade accounts receivable which could expose it to concentrations of credit risk. The credit risk from trade accounts receivable is limited because of a large customer base which extends across many different U.S. markets.

Derivative Instruments and Hedging Activities

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Derivative Instruments and Hedging Activities

12 Months Ended

Jul. 31, 2014

Derivative instruments and hedging activities

Ferrellgas is exposed to certain market risks related to its ongoing business operations. These risks include exposure to changing commodity prices as well as fluctuations in interest rates. Ferrellgas utilizes derivative instruments to manage its exposure to fluctuations in commodity prices. Ferrellgas also periodically utilizes derivative instruments to manage its exposure to fluctuations in interest rates, which is discussed in Note H - Debt. Additional information related to derivatives is provided in Note B – Summary of significant accounting policies.

Derivative instruments and hedging activity

During the years ended July 31, 2014 and 2013, Ferrellgas did not recognize any gain or loss in earnings related to hedge ineffectiveness and did not exclude any component of financial derivative contract gains or losses from the assessment of hedge effectiveness related to commodity cash flow hedges.

The following tables provide a summary of fair value derivatives that were designated as hedging instruments in Ferrellgas’ consolidated balance sheets as of July 31, 2014 and 2013:

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Propane commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

July 31, 2013

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

1,400

Other current liabilities

569

Propane commodity derivatives

Other assets, net

1,132

Other liabilities

338

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

3,341

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

442

Other liabilities

4,998

Total

6,315

Total

5,905

The following table provides a summary of the effect on Ferrellgas’ consolidated statements of comprehensive income for the years ended July 31, 2014 and 2013 of derivatives accounted for under ASC 815-25, Derivatives and Hedging – Fair Value Hedges, that were designated as hedging instruments:



		Amount of Gain Recognized on Derivative				Amount of Interest Expense Recognized on Fixed-Rated Debt (Related Hedged Item)
Derivative Instrument	Location of Gain Recognized on Derivative	For the year ended July 31,				For the year ended July 31,
		2014		2013		2014			2013
Interest rate swap agreements	Interest expense	$	2,520	$	3,205	$	(11,985	)	$	(21,875	)

The following tables provide a summary of the effect on Ferrellgas’ consolidated statements of comprehensive income for the years ended July 31, 2014 and 2013 of the effective portion of derivatives accounted for under ASC 815-30, Derivatives and Hedging – Cash Flow Hedges that were designated as hedging instruments:



	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	15,473		Cost of product sold- propane and other gas liquids sales	$	10,175
Interest rate swap agreements	(881		)	Interest expense	—
	$	14,592			$	10,175



	For the year ended July 31, 2013
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative		Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	2,032	Cost of product sold- propane and other gas liquids sales	$	(10,613	)
Interest rate swap agreements	2,220		Interest expense	—
	$	4,252		$	(10,613	)

The changes in derivatives included in accumulated other comprehensive income (loss) (“AOCI”) for the years ended July 31, 2014, 2013 and 2012 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2014			2013			2012
Beginning balance	$	2,066		$	(12,799	)	$	5,161
Change in value on risk management commodity derivatives	15,473			2,032			(23,290		)
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales	(10,175		)	10,613			7,108
Change in value on risk management interest rate derivatives	(881		)	2,220			(1,778		)
Ending balance	$	6,483		$	2,066		$	(12,799	)

Ferrellgas expects to reclassify net gains of approximately $5.2 million to earnings during the next 12 months. These net gains are expected to be offset by margins on propane sales commitments Ferrellgas has with its customers that qualify for the normal purchase normal sales exception.

During the years ended July 31, 2014 and 2013, Ferrellgas had no reclassifications to earnings resulting from discontinuance of any cash flow hedges arising from the probability of the original forecasted transactions not occurring within the originally specified period of time defined within the hedging relationship.

As of July 31, 2014, Ferrellgas had financial derivative contracts covering 1.4 million barrels of propane that were entered into as cash flow hedges of forward and forecasted purchases of propane.

Derivative Financial Instruments Credit Risk

Ferrellgas is exposed to credit loss in the event of nonperformance by counterparties to derivative financial and commodity instruments. Ferrellgas’ counterparties principally consist of major energy companies and major U.S. financial institutions. Ferrellgas maintains credit policies with regard to its counterparties that it believes reduces its overall credit risk. These policies include evaluating and monitoring its counterparties’ financial condition, including their credit ratings, and entering into agreements with counterparties that govern credit limits. Certain of these agreements call for the posting of collateral by the counterparty or by Ferrellgas in the forms of letters of credit, parental guarantees or cash. Although Ferrellgas has concentrations of credit risk associated with derivative financial instruments held by certain derivative financial instrument counterparties, the maximum amount of loss due to credit risk that, based upon the gross fair values of the derivative financial instruments, Ferrellgas would incur if these counterparties that make up the concentration failed to perform according to the terms of their contracts was $6.6 million at July 31, 2014.

Ferrellgas holds certain derivative contracts that have credit-risk-related contingent features which dictate credit limits based upon the Partnership’s debt rating. At July 31, 2014, a downgrade in the Partnership’s debt rating could trigger a reduction in credit limit but would not result in any additional collateral requirements. There were no derivatives with credit-risk-related contingent features in a liability position on July 31, 2014 and Ferrellgas had no collateral posted in the normal course of business related to such derivatives.

Ferrellgas, L.P. [Member]

Derivative Instruments and Hedging Activities

Derivative instruments and hedging activities

Ferrellgas, L.P. is exposed to certain market risks related to its ongoing business operations. These risks include exposure to changing commodity prices as well as fluctuations in interest rates. Ferrellgas, L.P. utilizes derivative instruments to manage its exposure to fluctuations in commodity prices. Ferrellgas, L.P. also periodically utilizes derivative instruments to manage its exposure to fluctuations in interest rates, which is discussed in Note H - Debt. Additional information related to derivatives is provided in Note B – Summary of significant accounting policies.

Derivative instruments and hedging activity

During the years ended July 31, 2014 and 2013, Ferrellgas, L.P. did not recognize any gain or loss in earnings related to hedge ineffectiveness and did not exclude any component of financial derivative contract gains or losses from the assessment of hedge effectiveness related to cash flow hedges.

The following tables provide a summary of the fair value derivatives that were designated as hedging instruments in Ferrellgas, L.P.’s consolidated balance sheets as of July 31, 2014 and 2013:

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Propane commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

July 31, 2013

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

1,400

Other current liabilities

569

Propane commodity derivatives

Other assets, net

1,132

Other liabilities

338

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

3,341

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

442

Other liabilities

4,998

Total

6,315

Total

5,905

The following table provides a summary of the effect on Ferrellgas L.P.’s consolidated statements of comprehensive income for the years ended July 31, 2014 and 2013 of derivatives accounted for under ASC 815-25, Derivatives and Hedging – Fair Value Hedges, that were designated as hedging instruments:



		Amount of Gain Recognized on Derivative				Amount of Interest Expense Recognized on Fixed-Rated Debt (Related Hedged Item)
Derivative Instrument	Location of Gain Recognized on Derivative	For the year ended July 31,				For the year ended July 31,
		2014		2013		2014			2013
Interest rate swap agreements	Interest expense	$	2,520	$	3,205	$	(11,985	)	$	(21,875	)



	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	15,473		Cost of product sold- propane and other gas liquids sales	$	10,175
Interest rate swap agreements	(881		)	Interest expense	—
	$	14,592			$	10,175


	For the year ended July 31, 2013
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	2,032		Cost of product sold- propane and other gas liquids sales	$	(10,613	)
Interest rate swap agreements	2,220			Interest expense	—
	$	4,252			$	(10,613	)

The changes in derivatives included in accumulated other comprehensive income (loss) (“AOCI”) for the years ended July 31, 2014, 2013 and 2012 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2014			2013			2012
Beginning balance	$	2,066		$	(12,799	)	$	5,161
Change in value on risk management commodity derivatives	15,473			2,032			(23,290		)
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales	(10,175		)	10,613			7,108
Change in value on risk management interest rate derivatives	(881		)	2,220			(1,778		)
Ending balance	$	6,483		$	2,066		$	(12,799	)

Ferrellgas, L.P. expects to reclassify net gains of approximately $5.2 million to earnings during the next 12 months. These net gains are expected to be offset by margins on propane sales commitments Ferrellgas, L.P. has with its customers that qualify for the normal purchase normal sales exception.

During the years ended July 31, 2014 and 2013, Ferrellgas, L.P. had no reclassifications to earnings resulting from discontinuance of any cash flow hedges arising from the probability of the original forecasted transactions not occurring within the originally specified period of time defined within the hedging relationship.

As of July 31, 2014, Ferrellgas, L.P. had financial derivative contracts covering 1.4 million barrels of propane that were entered into as cash flow hedges of forward and forecasted purchases of propane.

Derivative Financial Instruments Credit Risk

Ferrellgas L.P. holds certain derivative contracts that have credit-risk-related contingent features which dictate credit limits based upon the Partnership’s debt rating. As of July 31, 2014, a downgrade in the Partnership’s debt rating could trigger a reduction in credit limit but would not result in any additional collateral requirements. There were no derivatives with credit-risk-related contingent features in a liability position on July 31, 2014 and Ferrellgas L.P. had no posted collateral in the normal course of business related to such derivatives.

Transactions With Related Parties

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Transactions With Related Parties

12 Months Ended

Jul. 31, 2014

Transactions with related parties

Ferrellgas has no employees and is managed and controlled by its general partner. Pursuant to Ferrellgas’ partnership agreements, the general partner is entitled to reimbursement for all direct and indirect expenses incurred or payments it makes on behalf of Ferrellgas and all other necessary or appropriate expenses allocable to Ferrellgas or otherwise reasonably incurred by its general partner in connection with operating Ferrellgas’ business. These costs primarily include compensation and benefits paid to employees of the general partner who perform services on Ferrellgas’ behalf and are reported in the consolidated statements of earnings as follows:



	For the year ended July 31,
	2014		2013		2012
Operating expense	$	216,657	$	203,859	$	198,576

General and administrative expense	$	32,119	$	30,053	$	26,213

See additional discussions about transactions with the general partner and related parties in Note I – Partners’ deficit.

Ferrellgas, L.P. [Member]

Transactions With Related Parties

Transactions with related parties

Ferrellgas, L.P. has no employees and is managed and controlled by its general partner. Pursuant to Ferrellgas, L.P.’s partnership agreement, the general partner is entitled to reimbursement for all direct and indirect expenses incurred or payments it makes on behalf of Ferrellgas, L.P., and all other necessary or appropriate expenses allocable to Ferrellgas, L.P. or otherwise reasonably incurred by its general partner in connection with operating Ferrellgas, L.P.’s business. These costs primarily include compensation and benefits paid to employees of the general partner who perform services on Ferrellgas, L.P.’s behalf and are reported in the consolidated statements of earnings as follows:



	For the year ended July 31,
	2014		2013		2012
Operating expense	$	216,657	$	203,859	$	198,576

General and administrative expense	$	32,119	$	30,053	$	26,213

See additional discussions about transactions with the general partner and related parties in Note I – Partners’ capital.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details

Contingencies And Commitments

12 Months Ended

Jul. 31, 2014

Contingencies and commitments

Litigation

Ferrellgas' propane and related equipment sales operations are subject to all operating hazards and risks normally incidental to handling, storing, transporting and otherwise providing for use by consumers of combustible liquids such as propane. Ferrellgas' propane and related equipment sales and midstream operations face an inherent risk of exposure to general liability claims in the event that the use of these facilities results in injury or destruction of property. As a result, at any given time, Ferrellgas is threatened with or named as a defendant in various lawsuits arising in the ordinary course of business. Other than as discussed below, Ferrellgas is not a party to any legal proceedings other than various claims and lawsuits arising in the ordinary course of business. It is not possible to determine the ultimate disposition of these matters; however, management is of the opinion that there are no known claims or contingent claims that are reasonably expected to have a material adverse effect on the consolidated financial condition, results of operations and cash flows of Ferrellgas.

During the first quarter of fiscal 2014 Ferrellgas reached a settlement with the Offices of the District Attorneys of several counties in California relating to an investigation of labeling and filling practices relating to the amount of propane contained in barbecue cylinders. Ferrellgas already paid and reflected in the consolidated financial statements the settlement reached.

The Federal Trade Commission (“FTC”) initiated an investigation into certain practices related to the filling of portable propane cylinders. On March 27, 2014, the FTC filed an administrative complaint alleging that Ferrellgas and one of its competitors colluded in 2008 to persuade a customer to accept the cylinder fill reduction from 17 pounds to 15 pounds. The complaint does not seek monetary remedies. Ferrellgas has filed an answer to the complaint and believes that the FTC’s claims are without merit and will vigorously defend the claims. Ferrellgas does not believe loss is probable or reasonably estimable at this time.

Ferrellgas has also been named as a defendant, along with a competitor, in putative class action lawsuits filed in multiple jurisdictions. The complaints, filed on behalf of direct and indirect customers of our tank exchange business, reference the FTC complaint mentioned above. The lawsuits allege that Ferrellgas and a competitor coordinated in 2008 to reduce the fill level in barbeque cylinders and combined to persuade a common customer to accept that fill reduction, resulting in increased cylinder costs to retailers and end-user customers in violation of federal and certain state antitrust laws. The lawsuits seek treble damages, attorneys’ fees, injunctive relief and costs on behalf of the putative class. Ferrellgas anticipates that these lawsuits will be consolidated into one case by a multidistrict litigation panel. Ferrellgas believes they have strong defenses to the claims and intend to vigorously defend against them. Ferrellgas does not believe loss is probable or reasonably estimable at this time related to these putative class action lawsuits.

Ferrellgas has also been named as a defendant in a putative class action lawsuit filed in the United States District Court in Kansas. The complaint was the subject of a motion to dismiss which was granted, in part, in August 2011. The surviving claims allege breach of contract and breach of the implied duty of good faith and fair dealing, both of which allegedly arise from the existence of an oral contract for continuous propane service. Ferrellgas believes the claims are without merit and intends to defend them vigorously. The case has not been certified for class treatment. Ferrellgas recently prevailed on an appeal before the Tenth Circuit Court of Appeals and the appellate court ordered the trial court to determine whether the case must be arbitrated. Ferrellgas does not believe loss is probable or reasonably estimable at this time related to this putative class action lawsuit.

Long-term debt-related commitments

Ferrellgas has long and short-term payment obligations under agreements such as senior notes and its credit facility. See Note H – Debt – for a description of these debt obligations and a schedule of future maturities.

Operating lease commitments and buyouts

Ferrellgas leases certain property, plant and equipment under non-cancelable and cancelable operating leases. Amounts shown in the table below represent minimum lease payment obligations under Ferrellgas’ third-party operating leases with terms in excess of one year for the periods indicated. These arrangements include the leasing of transportation equipment, property, computer equipment and propane tanks. Ferrellgas accounts for these arrangements as operating leases.

Ferrellgas is required to recognize a liability for the fair value of guarantees. The only material guarantees Ferrellgas has are associated with residual value guarantees of operating leases. Most of the operating leases involving Ferrellgas’ transportation equipment contain residual value guarantees. These transportation equipment lease arrangements are scheduled to expire over the next 7 fiscal years. Most of these arrangements provide that the fair value of the equipment will equal or exceed a guaranteed amount, or Ferrellgas will be required to pay the lessor the difference. The fair value of these residual value guarantees was $1.2 million as of July 31, 2014. Although the fair values of the underlying equipment at the end of the lease terms have historically exceeded these guaranteed amounts, the maximum potential amount of aggregate future payments Ferrellgas could be required to make under these leasing arrangements, assuming the equipment is worthless at the end of the lease term, was $5.1 million as of July 31, 2014. Ferrellgas does not know of any event, demand, commitment, trend or uncertainty that would result in a material change to these arrangements.

Operating lease buyouts represent the maximum amount Ferrellgas would pay if it were to exercise its right to buyout the assets at the end of their lease term.

The following table summarizes Ferrellgas’ contractual operating lease commitments and buyout obligations as of July 31, 2014:



	Future minimum rental and buyout amounts by fiscal year
	2015		2016		2017		2018		2019		Thereafter
Operating lease obligations	$	31,635	$	26,182	$	21,120	$	16,456	$	11,798	$	11,884

Operating lease buyouts	$	1,448	$	2,054	$	1,509	$	2,746	$	2,893	$	6,649

Certain property and equipment is leased under non-cancelable operating leases, which require fixed monthly rental payments and which expire at various dates through 2024. Rental expense under these leases totaled $35.6 million, $32.2 million and $31.7 million for fiscal 2014, 2013 and 2012, respectively.

Ferrellgas Partners Finance Corp. [Member]

Contingencies and commitments

The Finance Corp. serves as co-issuer and co-obligor for debt securities of the Partnership.

The senior unsecured notes contain various restrictive covenants applicable to the Partnership and its subsidiaries, the most restrictive relating to additional indebtedness. As of July 31, 2014, the Partnership is in compliance with all requirements, tests, limitations and covenants related to this debt agreement.

Ferrellgas, L.P. [Member]

Contingencies and commitments

Litigation

Ferrellgas L.P.'s propane and related equipment sales operations are subject to all operating hazards and risks normally incidental to handling, storing, transporting and otherwise providing for use by consumers of combustible liquids such as propane. Ferrellgas L.P.'s propane and related equipment sales and midstream operations face an inherent risk of exposure to general liability claims in the event that the use of these facilities results in injury or destruction of property. As a result, at any given time, Ferrellgas, L.P. is threatened with or named as a defendant in various lawsuits arising in the ordinary course of business. Other than as discussed below, Ferrellgas, L.P. is not a party to any legal proceedings other than various claims and lawsuits arising in the ordinary course of business. It is not possible to determine the ultimate disposition of these matters; however, management is of the opinion that there are no known claims or contingent claims that are reasonably expected to have a material adverse effect on the consolidated financial condition, results of operations and cash flows of Ferrellgas, L.P.

During the first quarter of fiscal 2014 Ferrellgas L.P. reached a settlement with the Offices of the District Attorneys of several counties in California relating to an investigation of labeling and filling practices relating to the amount of propane contained in barbecue cylinders. Ferrellgas L.P. already paid and reflected in the consolidated financial statements the settlement reached.

The Federal Trade Commission (“FTC”) initiated an investigation into certain practices related to the filling of portable propane cylinders. On March 27, 2014, the FTC filed an administrative complaint alleging that Ferrellgas L.P. and one of its competitors colluded in 2008 to persuade a customer to accept the cylinder fill reduction from 17 pounds to 15 pounds. The complaint does not seek monetary remedies. Ferrellgas L.P. has filed an answer to the complaint and believes that the FTC’s claims are without merit and will vigorously defend the claims. Ferrellgas does not believe loss is probable or reasonably estimable at this time.

Ferrellgas L.P. has also been named as a defendant, along with a competitor, in putative class action lawsuits filed in multiple jurisdictions. The complaints, filed on behalf of direct and indirect customers of our tank exchange business, reference the FTC complaint mentioned above. The lawsuits allege that Ferrellgas L.P. and a competitor coordinated in 2008 to reduce the fill level in barbeque cylinders and combined to persuade a common customer to accept that fill reduction, resulting in increased cylinder costs to retailers and end-user customers in violation of federal and certain state antitrust laws. The lawsuits seek treble damages, attorneys’ fees, injunctive relief and costs on behalf of the putative class. Ferrellgas L.P. anticipates that these lawsuits will be consolidated into one case by a multidistrict litigation panel. Ferrellgas L.P. believes they have strong defenses to the claims and intend to vigorously defend against them. Ferrellgas L.P. does not believe loss is probable or reasonably estimable at this time related to these putative class action lawsuits.

Ferrellgas L.P. has also been named as a defendant in a putative class action lawsuit filed in the United States District Court in Kansas. The complaint was the subject of a motion to dismiss which was granted, in part, in August 2011. The surviving claims allege breach of contract and breach of the implied duty of good faith and fair dealing, both of which allegedly arise from the existence of an oral contract for continuous propane service. Ferrellgas L.P. believes the claims are without merit and intends to defend them vigorously. The case has not been certified for class treatment. Ferrellgas L.P. recently prevailed on an appeal before the Tenth Circuit Court of Appeals and the appellate court ordered the trial court to determine whether the case must be arbitrated. Ferrellgas L.P. does not believe loss is probable or reasonably estimable at this time related to this putative class action lawsuit.

Long-term debt-related commitments

Ferrellgas, L.P. has long and short-term payment obligations under agreements such as senior notes and its credit facility. See Note H – Debt – for a description of these debt obligations and a schedule of future maturities.

Operating lease commitments and buyouts

Ferrellgas, L.P. leases certain property, plant and equipment under non-cancelable and cancelable operating leases. Amounts shown in the table below represent minimum lease payment obligations under Ferrellgas, L.P.’s third-party operating leases with terms in excess of one year for the periods indicated. These arrangements include the leasing of transportation equipment, property, computer equipment and propane tanks. Ferrellgas, L.P. accounts for these arrangements as operating leases.

Ferrellgas, L.P. is required to recognize a liability for the fair value of guarantees. The only material guarantees Ferrellgas, L.P. has are associated with residual value guarantees of operating leases. Most of the operating leases involving Ferrellgas, L.P.’s transportation equipment contain residual value guarantees. These transportation equipment lease arrangements are scheduled to expire over the next 7 fiscal years. Most of these arrangements provide that the fair value of the equipment will equal or exceed a guaranteed amount, or Ferrellgas, L.P. will be required to pay the lessor the difference. The fair value of these residual value guarantees was $1.2 million as of July 31, 2014. Although the fair values of the underlying equipment at the end of the lease terms have historically exceeded these guaranteed amounts, the maximum potential amount of aggregate future payments Ferrellgas, L.P. could be required to make under these leasing arrangements, assuming the equipment is worthless at the end of the lease term, was $5.1 million as of July 31, 2014. Ferrellgas, L.P. does not know of any event, demand, commitment, trend or uncertainty that would result in a material change to these arrangements.

Operating lease buyouts represent the maximum amount Ferrellgas, L.P. would pay if it were to exercise its right to buyout the assets at the end of their lease term.

The following table summarizes Ferrellgas, L.P.’s contractual operating lease commitments and buyout obligations as of July 31, 2014:



	Future minimum rental and buyout amounts by fiscal year
	2015		2016		2017		2018		2019		Thereafter
Operating lease obligations	$	31,635	$	26,182	$	21,120	$	16,456	$	11,798	$	11,884

Operating lease buyouts	$	1,448	$	2,054	$	1,509	$	2,746	$	2,893	$	6,649

Ferrellgas Finance Corp. [Member]

Contingencies and commitments

The Finance Corp. serves as co-issuer and co-obligor for debt securities of the Partnership.

The senior notes agreements contain various restrictive covenants applicable to the Partnership and its subsidiaries, the most restrictive relating to additional indebtedness. As of July 31, 2014, the Partnership is in compliance with all requirements, tests, limitations and covenants related to these debt agreements.

Net Earnings (Loss) Per Common Unitholders' Interest

The entire disclosure for commitments and contingencies.

+ References+ Details

Employee Benefits	12 Months Ended
Employee Benefits	Jul. 31, 2014
Employee Benefits	Employee benefits Ferrellgas has no employees and is managed and controlled by its general partner. Ferrellgas assumes all liabilities, which include specific liabilities related to the following employee benefit plans for the benefit of the officers and employees of the general partner. Ferrell Companies makes contributions to the ESOT, which causes a portion of the shares of Ferrell Companies owned by the ESOT to be allocated to employees’ accounts over time. The allocation of Ferrell Companies’ shares to employee accounts causes a non-cash compensation charge to be incurred by Ferrellgas, equivalent to the fair value of such shares allocated. This non-cash compensation charge is reported separately in Ferrellgas’ consolidated statements of earnings and thus excluded from operating and general and administrative expenses. The non-cash compensation charges were $21.8 million, $15.8 million and $9.4 million during fiscal 2014, 2013 and 2012, respectively. Ferrellgas is not obligated to fund or make contributions to the ESOT. The general partner and its parent, Ferrell Companies, have a defined contribution profit-sharing plan which includes both profit sharing and matching contribution features. The plan covers substantially all full time employees. The plan, which qualifies under section 401(k) of the Internal Revenue Code, also provides for matching contributions under a cash or deferred arrangement based upon participant salaries and employee contributions to the plan. Matching contributions for fiscal 2014, 2013 and 2012 were $3.6 million, $3.0 million and $2.9 million, respectively. The general partner has a defined benefit plan that provides participants who were covered under a previously terminated plan with a guaranteed retirement benefit at least equal to the benefit they would have received under the terminated plan. Until July 31, 1999, benefits under the terminated plan were determined by years of credited service and salary levels. As of July 31, 1999, years of credited service and salary levels were frozen. The general partner’s funding policy for this plan is to contribute amounts deductible for Federal income tax purposes and invest the plan assets primarily in corporate stocks and bonds, U.S. Treasury bonds and short-term cash investments. During fiscal 2014, 2013 and 2012, other comprehensive income and other liabilities were adjusted by $0.3 million, $0.3 million and $38 thousand, respectively.
Ferrellgas, L.P. [Member]
Employee Benefits	Employee benefits Ferrellgas, L.P. has no employees and is managed and controlled by its general partner. Ferrellgas, L.P. assumes all liabilities, which include specific liabilities related to the following employee benefit plans for the benefit of the officers and employees of the general partner. Ferrell Companies makes contributions to the ESOT, which causes a portion of the shares of Ferrell Companies owned by the ESOT to be allocated to employees’ accounts over time. The allocation of Ferrell Companies’ shares to employee accounts causes a non-cash compensation charge to be incurred by Ferrellgas, L.P., equivalent to the fair value of such shares allocated. This non-cash compensation charge is reported separately in Ferrellgas, L.P.’s consolidated statements of earnings and thus excluded from operating and general and administrative expenses. The non-cash compensation charges were $21.8 million, $15.8 million and $9.4 million during fiscal 2014, 2013 and 2012, respectively. Ferrellgas, L.P. is not obligated to fund or make contributions to the ESOT. The general partner and its parent, Ferrell Companies, have a defined contribution profit-sharing plan which includes both profit sharing and matching contribution features. The plan covers substantially all full time employees. The plan, which qualifies under section 401(k) of the Internal Revenue Code, also provides for matching contributions under a cash or deferred arrangement based upon participant salaries and employee contributions to the plan. Matching contributions for fiscal 2014, 2013 and 2012 were $3.6 million, $3.0 million and $2.9 million, respectively. The general partner has a defined benefit plan that provides participants who were covered under a previously terminated plan with a guaranteed retirement benefit at least equal to the benefit they would have received under the terminated plan. Until July 31, 1999, benefits under the terminated plan were determined by years of credited service and salary levels. As of July 31, 1999, years of credited service and salary levels were frozen. The general partner’s funding policy for this plan is to contribute amounts deductible for Federal income tax purposes and invest the plan assets primarily in corporate stocks and bonds, U.S. Treasury bonds and short-term cash investments. During fiscal 2014, 2013 and 2012, other comprehensive income and other liabilities were adjusted by $0.3 million, $0.3 million and $38 thousand, respectively.

Net Earnings (Loss) Per Common Unitholders' Interest

12 Months Ended

Jul. 31, 2014

Earnings Per Share [Abstract]

Net earnings (loss) per common unitholders’ interest

Below is a calculation of the basic and diluted net earnings per common unitholders’ interest in the consolidated statements of earnings for the periods indicated. In accordance with guidance issued by the FASB regarding participating securities and the two-class method, Ferrellgas calculates net earnings (loss) per common unitholders’ interest for each period presented according to distributions declared and participation rights in undistributed earnings, as if all of the earnings or loss for the period had been distributed. Due to the seasonality of Ferrellgas' business, the dilutive effect of the two-class method typically impacts only the three months ending January 31. In periods with undistributed earnings above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the general partner and a dilution of the earnings to the limited partners as follows.



	Ratio of total distributions payable to:
Quarterly distribution per common unit	Common unitholder		General partner
$0.56 to $0.63	86.9	%	13.1	%
$0.64 to $0.82	76.8	%	23.2	%
$0.83 and above	51.5	%	48.5	%

There was not a dilutive effect resulting from this guidance on basic and diluted net earnings (loss) per common unitholders’ interest for fiscal 2014, 2013 and 2012.

In periods with net losses, the allocation of the net losses to the limited partners and the general partner will be determined based on the same allocation basis specified in the Ferrellgas Partners’ partnership agreement that would apply to periods in which there were no undistributed earnings. Additionally, in periods with net losses, there are no dilutive securities. Units that could potentially dilute basic net earnings per common unitholders’ interest in the future that were not included in the computation of diluted net earnings per common unitholders’ interest, because it would have been antidilutive for the year ended July 31, 2012 was 0.1 million.



	For the year ended July 31,
	2014		2013		2012
Common unitholders’ interest in net earnings (loss)	$	32,879	$	55,862	$	(10,842	)

Weighted average common units outstanding (in thousands)	79,651.1		79,038.6		77,572.4

Dilutive securities	20.6		37.0		—

Weighted average common units outstanding plus dilutive securities	79,671.7		79,075.6		77,572.4

Basic and diluted net earnings (loss) per common unitholders’ interest	$	0.41	$	0.71	$	(0.14	)

Segment Reporting Disclosure

The entire disclosure for earnings per share.

+ References+ Details

Segment Reporting Segment Reporting

12 Months Ended

Jul. 31, 2014

Segment reporting

During May 2014, Ferrellgas entered into a membership interest purchase agreement to acquire all of the issued and outstanding membership interests of Sable, a fluid logistics provider in the Eagle Ford shale region of south Texas. With this acquisition Ferrellgas established a new operating and reportable segment referred to as “Midstream Operations” in addition to the existing reportable segment of propane and related equipment sales. The chief operating decision maker evaluates the operating segments using an Adjusted EBITDA performance measure which is based on earnings before income tax expense, interest expense, depreciation and amortization expense, loss on extinguishment of debt, non-cash employee stock ownership plan compensation charge, non-cash stock and unit-based compensation charge, loss on disposal of assets and other, other income (expense), net, change in fair value of contingent consideration, litigation accrual and related legal fees associated with a class action lawsuit and net earnings (loss) attributable to noncontrolling interests. This performance measure is not a GAAP measure but the components are computed using amounts that are determined in accordance with GAAP. A reconciliation of this performance measure to net earnings (loss) attributable to Ferrellgas Partners L.P., which is its nearest comparable GAAP measure, is included in the tables below. In management's evaluation of performance, certain costs, such as compensation for administrative staff and executive management, are not allocated by segment and, accordingly, the following reportable segment results do not include such unallocated costs. The accounting policies of the operating segments are otherwise the same as those described in the summary of significant accounting policies in Note B.

Assets reported within a segment are those assets that can be identified to a segment and primarily consist of trade receivables, property, plant and equipment, inventories, identifiable intangible assets and goodwill. Cash, certain prepaid assets and other assets are not allocated to segments. Although Ferrellgas can and does identify long-lived assets such as property, plant and equipment and identifiable intangible assets to reportable segments, Ferrellgas does not allocate the related depreciation and amortization to the segment as management evaluates segment performance exclusive of these non-cash charges.

The propane and related equipment sales segment primarily includes the distribution and sale of propane and related equipment and supplies with concentrations in the Midwest, Southeast, Southwest and Northwest regions of the United States. Sales from propane distribution are generated principally from transporting propane purchased from third parties to propane distribution locations and then to tanks on customers’ premises or to portable propane tanks delivered to nationwide and local retailers. Sales from portable tank exchanges, nationally branded under the name Blue Rhino, are generated through a network of independent and partnership-owned distribution outlets.

Salt water disposal wells are a critical component of the oil and natural gas well drilling industry. Oil and gas wells generate significant volumes of salt water known as “flowback” and “production” water. Flowback is a water based solution that flows back to the surface during and after the completion of the hydraulic fracturing (“fracking”) process whereby large volumes of water, sand and chemicals are injected under high pressures into rock formations to stimulate production. Flowback contains clays, chemicals, dissolved metal ions, total dissolved solids and oil/condensate. Production water is salt water from underground formations that are brought to the surface during the normal course of oil or gas production. Because this water has been in contact with hydrocarbon-bearing formations, it contains some of the chemical characteristics of the formations and the hydrocarbons. In the oil and gas fields we service, these volumes of water are transported by truck away from the fields to salt water disposal wells where it is injected into underground geologic formations using high-pressure pumps. Revenue is derived from fees charged to customers to dispose of salt water at the disposal facilities and crude oil sales from the skimming oil process.

Prior to the Sable acquisition in May 2014, Ferrellgas managed and evaluated its operations as a single reportable segment. As the current two reportable segment structure is the result of the Sable acquisition completed during May 2014, comparative historical segment information for fiscal 2013 and 2012 are not provided.

Following is a summary of segment information for the year ended July 31, 2014.



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other			Total



Segment revenues	$	2,398,425	$	7,435	$	—		$	2,405,860
Direct costs (1)		2,067,133		3,997		46,582			2,117,712
Adjusted EBITDA	$	331,292	$	3,438	$	(46,582	)	$	288,148

(1) Direct costs are comprised of "cost of products sold-propane and other gas liquids sales", "cost of products sold-other", "operating expense", "general and administrative expense", and "equipment lease expense" less "non-cash stock and unit-based compensation charge", "change in fair value of contingent consideration", "litigation accrual and related legal fees associated with a class action lawsuit" and "severance costs".

Following is a reconciliation of our total segment performance measure to consolidated net earnings:



	Year Ended July 31,
	2014

Net earnings attributable to Ferrellgas Partners, L.P.	$	33,211
Income tax expense		2,516
Interest expense		86,502
Depreciation and amortization expense		84,202
EBITDA		206,431
Loss on extinguishment of debt		21,202
Non-cash employee stock ownership plan compensation charge		21,789
Non-cash stock and unit-based compensation charge		24,508
Loss on disposal of assets		6,486
Other expense (income), net		479
Change in fair value of contingent consideration		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		1,749
Net earnings attributable to noncontrolling interest		504
Adjusted EBITDA	$	288,148

Following are total assets by segment:



	July 31,
	2014

Assets
Propane and related equipment sales	$	1,400,603
Midstream operations		136,116
Corporate and unallocated		35,551
Total consolidated assets	$	1,572,270

Following are capital expenditures by segment:



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other		Total



Maintenance	$	14,682	$	181	$	3,275	$	18,138
Growth		30,501		1,715		627		32,843
Total	$	45,183	$	1,896	$	3,902	$	50,981

Ferrellgas, L.P. [Member]

Segment Reporting Disclosure

Segment reporting

During May 2014, Ferrellgas L.P. entered into a membership interest purchase agreement to acquire all of the issued and outstanding membership interests of Sable, a fluid logistics provider in the Eagle Ford shale region of south Texas. With this acquisition Ferrellgas L.P. established a new operating and reportable segment referred to as “Midstream Operations” in addition to the existing reportable segment of propane and related equipment sales. The chief operating decision maker evaluates the operating segments using an Adjusted EBITDA performance measure which is based on earnings before income tax expense, interest expense, depreciation and amortization expense, loss on extinguishment of debt, non-cash employee stock ownership plan compensation charge, non-cash stock and unit-based compensation charge, loss on disposal of assets and other, other income (expense), net, change in fair value of contingent consideration, litigation accrual and related legal fees associated with a class action lawsuit and net earnings (loss) attributable to noncontrolling interests. This performance measure is not a GAAP measure, however, the components are computed using amounts that are determined in accordance with GAAP. A reconciliation of this performance measure to net earnings (loss), which is its nearest comparable GAAP measure, is included in the tables below. In management's evaluation of performance, certain costs, such as compensation for administrative staff and executive management, are not allocated by segment and, accordingly, the following reportable segment results do not include such unallocated costs. The accounting policies of the operating segments are otherwise the same as those described in the summary of significant accounting policies in Note B.

Assets reported within a segment are those assets that can be identified to a segment and primarily consist of trade receivables, property, plant and equipment, inventories, identifiable intangible assets and goodwill. Cash, certain prepaid assets and other assets are not allocated to segments. Although Ferrellgas L.P. can and does identify long-lived assets such as property, plant and equipment and identifiable intangible assets to reportable segments, Ferrellgas L.P. does not allocate the related depreciation and amortization to the segment as management evaluates segment performance exclusive of these non-cash charges.

Following is a summary of segment information for the year ended July 31, 2014.



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other			Total



Segment revenues	$	2,398,425	$	7,435	$	—		$	2,405,860
Direct costs (1)		2,067,156		3,997		46,582			2,117,735
Adjusted EBITDA	$	331,269	$	3,438	$	(46,582	)	$	288,125

Following is a reconciliation of our total segment performance measure to consolidated net earnings:



	Year Ended July 31,
	2014

Net earnings	$	49,907
Income tax expense		2,471
Interest expense		70,332
Depreciation and amortization expense		84,202
EBITDA		206,912
Loss on extinguishment of debt		21,202
Non-cash employee stock ownership plan compensation charge		21,789
Non-cash stock and unit-based compensation charge		24,508
Loss on disposal of assets		6,486
Other expense (income), net		479
Change in fair value of contingent consideration		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		1,749
Adjusted EBITDA	$	288,125

Following are total assets by segment:



	July 31,
	2014

Assets
Propane and related equipment sales	$	1,400,603
Midstream operations		136,116
Corporate and unallocated		33,114
Total consolidated assets	$	1,569,833

Following are capital expenditures by segment:



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other		Total



Maintenance	$	14,682	$	181	$	3,275	$	18,138
Growth		30,501		1,715		627		32,843
Total	$	45,183	$	1,896	$	3,902	$	50,981

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Quarterly Data (Unaudited)

12 Months Ended

Jul. 31, 2014

Quarterly Data

Quarterly data (unaudited)

The following summarized unaudited quarterly data includes all adjustments (consisting only of normal recurring adjustments, with the exception of those items indicated below), which Ferrellgas considers necessary for a fair presentation. Due to the seasonality of the propane distribution industry, first and fourth quarter Revenues, gross margin from propane and other gas liquids sales, Net earnings attributable to Ferrellgas Partners and common unitholders’ interest in net earnings are consistently less than the second and third quarter results. Other factors affecting the results of operations include competitive conditions, demand for product, timing of acquisitions, variations in the weather and fluctuations in propane prices. The sum of basic and diluted net earnings (loss) per common unitholders’ interest by quarter may not equal the basic and diluted net earnings (loss) per common unitholders’ interest for the year due to variations in the weighted average units outstanding used in computing such amounts.



For the year ended July 31, 2014	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	415,030		$	869,683	$	722,117	$	399,030
Gross margin from propane and other gas liquids sales (a)	123,469			237,940		202,861		126,685
Net earnings (loss)	(25,057		)	61,123		45,890		(48,241		)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(24,843		)	60,464		45,385		(47,795		)
Common unitholders’ interest in net earnings (loss)	(24,595		)	59,860		44,931		(47,317		)

Basic and diluted net earnings (loss) per common unitholders’ interest	$	(0.31	)	$	0.72	$	0.57	$	(0.58	)


For the year ended July 31, 2013	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	362,909		$	658,865	$	603,020	$	350,673
Gross margin from propane and other gas liquids sales (a)	121,624			206,838		195,201		123,343
Net earnings (loss)	(17,796		)	58,843		45,180		(29,060		)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(17,658		)	58,207		44,681		(28,804		)
Common unitholders’ interest in net earnings (loss)	(17,481		)	55,069		44,234		(28,516		)

Basic and diluted net earnings (loss) per common unitholders’ interest	$	(0.22	)	$	0.70	$	0.56	$	(0.36	)


(a)	Gross margin from “Propane and other gas liquids sales” represents “Revenues - Propane and other gas liquids sales” less “Cost of product sold – propane and other gas liquids sales.”

Ferrellgas, L.P. [Member]

Quarterly Data

Quarterly data (unaudited)



For the year ended July 31, 2014	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	415,030		$	869,683	$	722,117	$	399,030
Gross margin from propane and other gas liquids sales (a)	123,469			237,940		202,861		126,685
Net earnings (loss)	$	(21,138	)	$	65,171	$	50,053	$	(44,179	)

For the year ended July 31, 2013	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	362,909		$	658,865	$	603,020	$	350,673
Gross margin from propane and other gas liquids sales (a)	121,624			206,838		195,201		123,343
Net earnings (loss)	$	(13,692	)	$	62,953	$	49,396	$	(25,282	)


(a)	Gross margin from “Propane and other gas liquids sales” represents “Revenues - Propane and other gas liquids sales” less “Cost of product sold – propane and other gas liquids sales.”

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Income Taxes	12 Months Ended
Income Taxes	Jul. 31, 2014
Ferrellgas Partners Finance Corp. [Member]
Income Taxes	Income taxes Income taxes have been computed separately as the Finance Corp. files its own income tax return. Deferred income taxes are provided as a result of temporary differences between financial and tax reporting using the asset/liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities. Due to the inability of the Finance Corp. to utilize the deferred tax benefit of $5,675 associated with the net operating loss carryforward of $14,588, which expire at various dates through July 31, 2034, a valuation allowance has been provided on the full amount of the deferred tax asset. Accordingly, there is no net deferred tax benefit for fiscal 2014, 2013 or 2012, and there is no net deferred tax asset as of July 31, 2014 and 2013.
Ferrellgas Finance Corp. [Member]
Income Taxes	Income taxes Income taxes have been computed separately as the Finance Corp. files its own income tax return. Deferred income taxes are provided as a result of temporary differences between financial and tax reporting using the asset/liability method. Deferred income taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities. Due to the inability of the Finance Corp. to utilize the deferred tax benefit of $19,103 associated with the net operating loss carryforward of $49,109, which expires at various dates through July 31, 2034, a valuation allowance has been provided on the full amount of the deferred tax asset. Accordingly, there is no net deferred tax benefit for fiscal 2014, 2013 or 2012, and there is no net deferred tax asset as of July 31, 2014 and 2013.

Condensed Financial Information of Parent Company Only Disclosure

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Subsequent Events	12 Months Ended
Subsequent Events	Jul. 31, 2014
Subsequent Events	Subsequent events Ferrellgas has evaluated events and transactions occurring after the balance sheet date through the date Ferrellgas’ consolidated financial statements were issued and concluded that, other than the events discussed below, there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements. During September 2014, Ferrellgas entered into an asset purchase agreement to acquire two salt water disposal wells in the Eagle Ford shale region of south Texas from C&E Production, LLC and its affiliates ("C&E sellers") based in Bryan, Texas. Consideration was paid in cash upon closing with funds borrowed from the secured credit facility. During September 2014, in a non-brokered registered direct offering, which units are subject to certain transfer restrictions, Ferrellgas issued to Ferrell Companies Inc. and the former equity holders of C&E sellers, an aggregate of 1.5 million common units for an aggregate purchase price of $42.0 million. Ferrellgas used these proceeds to pay down a portion of the borrowings under the secured credit facility used to fund the acquisition discussed above, as well as other propane and related equipment sales acquisitions completed during fiscal 2014.
Ferrellgas Partners Finance Corp. [Member]
Subsequent Events	Subsequent events The Finance Corp. has evaluated events and transactions occurring after the balance sheet date through the date the Finance Corp.’s consolidated financial statements were issued, and concluded that there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements.
Ferrellgas, L.P. [Member]
Subsequent Events	Subsequent events Ferrellgas, L.P. has evaluated events and transactions occurring after the balance sheet date through the date Ferrellgas, L.P.’s consolidated financial statements were issued and concluded that, other than the events discussed below, there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements. During September 2014, Ferrellgas L.P. entered into an asset purchase agreement to acquire two salt water disposal wells in the Eagle Ford shale region of south Texas from C&E Production, LLC and its affiliates ("C&E sellers") based in Bryan, Texas. Consideration was paid in cash upon closing with funds borrowed from the secured credit facility. During September 2014, in a non-brokered registered direct offering, which units are subject to certain transfer restrictions, Ferrellgas Partners issued to Ferrell Companies Inc. and the former equity holders of C&E sellers, an aggregate of 1.5 million common units for an aggregate purchase price of $42.0 million. Ferrellgas Partners contributed these proceeds to Ferrellgas L.P. to pay down a portion of the borrowings under the secured credit facility used to fund the acquisition discussed above, as well as other propane and related equipment sales acquisitions completed during fiscal 2014.
Ferrellgas Finance Corp. [Member]
Subsequent Events	Subsequent events The Finance Corp. has evaluated events and transactions occurring after the balance sheet date through the date the Finance Corp.’s consolidated financial statements were issued, and concluded that there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements.

Schedule I Parent Only Balance Sheets, Statements Of Earnings And Cash Flows (Parent Company [Member])

12 Months Ended

Jul. 31, 2014

Parent Company [Member]



				Schedule 1
FERRELLGAS PARTNERS, L.P.
PARENT ONLY
BALANCE SHEETS
(in thousands, except unit data)
	July 31,
	2014			2013
ASSETS

Cash and cash equivalents	$	6		$	157
Prepaid expenses and other current assets	—			26
Investment in Ferrellgas, L.P.	69,205			93,507
Other assets, net	2,439			2,913
Total assets	$	71,650		$	96,603

LIABILITIES AND PARTNERS' DEFICIT

Other current liabilities	$	2,016		$	2,199
Long-term debt	182,000			182,000

Partners' deficit
Common unitholders (81,228,237 and 79,072,819 units outstanding at 2014 and 2013, respectively)	(57,893		)	(28,931		)
General partner (820,487 and 798,715 units outstanding at 2014 and 2013, respectively)	(60,654		)	(60,362		)
Accumulated other comprehensive income	6,181			1,697
Total Ferrellgas Partners, L.P. partners' deficit	(112,366		)	(87,596		)
Total liabilities and partners' deficit	$	71,650		$	96,603



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF EARNINGS
(in thousands)
	For the year ended July 31,
	2014			2013			2012
Equity in earnings of Ferrellgas, L.P.	$	49,403		$	72,634		$	5,533
Operating expense	23			(20		)	(350		)

Operating income	49,426			72,614			5,183

Interest expense	(16,170		)	(16,171		)	(16,127		)
Income tax expense	(45		)	(17		)	(8		)

Net earnings (loss)	$	33,211		$	56,426		$	(10,952	)



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF CASH FLOWS
(in thousands)
	For the year ended July 31,
	2014			2013			2012
Cash flows from operating activities:
Net earnings (loss)	$	33,211		$	56,426		$	(10,952	)
Reconciliation of net earnings (loss) to net cash used in operating activities:
Other	426			383			398
Equity in earnings of Ferrellgas, L.P.	(49,403		)	(72,634		)	(5,533		)
Net cash used in operating activities	(15,766		)	(15,825		)	(16,087		)

Cash flows from investing activities:
Distributions received from Ferrellgas, L.P.	176,623			175,380			172,218
Cash contributed to Ferrellgas, L.P.	(51,105		)	(800		)	(50,700		)
Net cash provided by investing activities	125,518			174,580			121,518

Cash flows from financing activities:
Distributions	(160,925		)	(159,682		)	(156,520		)
Cash paid for financing costs	(94		)	—			(135		)
Issuance of common units (net of issuance costs of $0, $0, and $62 for the years ended July 31, 2014, 2013 and 2012	50,000			—			49,938
Proceeds from exercise of common unit options	605			864			891
Cash contribution from general partners in connection with common unit issuances	511			9			511
Net cash used in financing activities	(109,903		)	(158,809		)	(105,315		)

Increase (decrease) in cash and cash equivalents	(151		)	(54		)	116
Cash and cash equivalents - beginning of year	157			211			95
Cash and cash equivalents - end of year	$	6		$	157		$	211

Schedule II Valuation And Qualifying Accounts

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References+ Details

Schedule II Valuation And Qualifying Accounts

12 Months Ended

Jul. 31, 2014



									Schedule II
FERRELLGAS PARTNERS, L.P. AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS
(in thousands)
	Balance at		Charged to						Balance
	beginning		cost and						at end
Description	of period		expenses		Other				of period
Year ended July 31, 2014

Allowance for doubtful accounts	$	3,607	$	3,419	$	(2,270	)	(1)	$	4,756

Year ended July 31, 2013

Allowance for doubtful accounts	$	3,812	$	2,066	$	(2,271	)	(1)	$	3,607

Year ended July 31, 2012

Allowance for doubtful accounts	$	4,310	$	4,822	$	(5,320	)	(1)	$	3,812


(1)	Uncollectible accounts written off, net of recoveries.

Ferrellgas, L.P. [Member]

Schedule II Valuation And Qualifying Accounts



									Schedule II
FERRELLGAS, L.P. AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS
(in thousands)
	Balance at		Charged to						Balance
	beginning		cost and						at end
Description	of period		expenses		Other				of period
Year ended July 31, 2014

Allowance for doubtful accounts	$	3,607	$	3,419	$	(2,270	)	(1)	$	4,756

Year ended July 31, 2013

Allowance for doubtful accounts	$	3,812	$	2,066	$	(2,271	)	(1)	$	3,607

Year ended July 31, 2012

Allowance for doubtful accounts	$	4,310	$	4,822	$	(5,320	)	(1)	$	3,812


(1)	Uncollectible accounts written off, net of recoveries.

Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Jul. 31, 2014

Principles of consolidation

Accounting estimates

Accounting estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from these estimates. Significant estimates impacting the consolidated financial statements include accruals that have been established for contingent liabilities, pending claims and legal actions arising in the normal course of business, useful lives of property, plant and equipment assets, residual values of tanks, capitalization of customer tank installation costs, amortization methods of intangible assets, valuation methods used to value sales returns and allowances, allowance for doubtful accounts, fair value of reporting units, assumptions used to value business combinations, fair values of derivative contracts and stock and unit-based compensation calculations.

Principles of consolidation: The accompanying consolidated financial statements present the consolidated financial position, results of operations and cash flows of Ferrellgas Partners, its wholly-owned subsidiary, Ferrellgas Partners Finance Corp., and the operating partnership, its majority-owned subsidiary, after elimination of all intercompany accounts and transactions. The accounts of Ferrellgas Partners’ majority-owned subsidiary are included based on the determination that the operating partnership is a variable interest entity for whom Ferrellgas Partners has no ability through voting rights or similar rights to make decisions and thus does not have the power to direct the activities of the operating partnership that most significantly impact economic performance. However, Ferrellgas partners has the obligation to absorb the losses of and the right to receive benefits from the operating partnership that are significant to the operating partnership. Furthermore, assets and liabilities of Ferrellgas Partners consist substantially of the operating partnership. The operating partnership includes the accounts of its wholly-owned subsidiaries. The general partner’s approximate 1% general partner interest in the operating partnership is accounted for as a noncontrolling interest. The wholly-owned consolidated subsidiary of the operating partnership, Ferrellgas Receivables, LLC (“Ferrellgas Receivables”), is a special purpose entity that has agreements with the operating partnership to securitize, on an ongoing basis, a portion of its trade accounts receivable.

Supplemental cash flow information

Supplemental cash flow information: For purposes of the 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. Certain cash flow and significant non-cash activities are presented below:



	For the year ended July 31,
	2014		2013		2012
CASH PAID FOR:
Interest	$	90,820	$	84,030	$	88,696
Income taxes	$	816	$	550	$	764
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common units in connection with acquisitions	$	1,500	$	—	$	1,300
Liabilities incurred in connection with acquisitions	$	4,312	$	2,035	$	2,321
Change in accruals for property, plant and equipment additions	$	978	$	533	$	233

Fair value measurements

Fair value measurements: Ferrellgas measures certain of its assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants – in either the principal market or the most advantageous market. The principal market is the market with the greatest level of activity and volume for the asset or liability.


•	Level 1: Quoted prices in active markets for identical assets or liabilities.


•	Level 2: Quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.


•	Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable.

Accounts receivable securitization

Accounts receivable securitization: Through its wholly-owned and consolidated subsidiary Ferrellgas Receivables, Ferrellgas has agreements to securitize, on an ongoing basis, a portion of its trade accounts receivable.

Inventories

Inventories: Inventories are stated at the lower of cost or market using weighted average cost and actual cost methods.

Property, plant and equipment

Property, plant and equipment: Property, plant and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and routine repairs are expensed as incurred. Ferrellgas capitalizes computer software, equipment replacement and betterment expenditures that upgrade, replace or completely rebuild major mechanical components and extend the original useful life of the equipment. Depreciation is calculated using the straight-line method based on the estimated useful lives of the assets ranging from two to 30 years. Ferrellgas, using its best estimates based on reasonable and supportable assumptions and projections, reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of its assets might not be recoverable. See Note E – Supplemental financial statement information – for further discussion of property, plant and equipment.

Goodwill

Goodwill: Ferrellgas records goodwill as the excess of the cost of acquisitions over the fair value of the related net assets at the date of acquisition. Goodwill recorded is not deductible for income tax purposes. Ferrellgas has determined that it has four reporting units for goodwill impairment testing purposes. Three of these reporting units contain goodwill that is subject to at least an annual assessment for impairment by applying a fair-value-based test. Under this test, the carrying value of each reporting unit is determined by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units as of the date of the evaluation on a specific identification basis. To the extent a reporting unit’s carrying value exceeds its fair value, an indication exists that the reporting unit’s goodwill may be impaired and the second step of the impairment test must be performed. In the second step, the implied fair value of the goodwill is determined by allocating the fair value of all of its assets (recognized and unrecognized) and liabilities to its carrying amount. Ferrellgas has completed the impairment test for the Retail operations and Products reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2014. Goodwill associated with the Midstream operations reporting unit is a result of our acquisition of Sable Environmental LLC and Sable SWD 2, LLC (collectively "Sable") on May 1, 2014.

Intangible assets

Intangible assets: Intangible assets with finite useful lives, consisting primarily of customer related assets, non-compete agreements, permits, favorable lease arrangements and patented technology, are stated at cost, net of accumulated amortization calculated using the straight-line method over periods ranging from two to 15 years. Trade names and trademarks have indefinite lives, are not amortized, and are stated at cost. Ferrellgas tests finite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of these assets might not be recoverable. Ferrellgas tests indefinite-lived intangible assets for impairment annually on January 31 or more frequently if circumstances dictate. Ferrellgas has not recognized impairment losses as a result of these tests. When necessary, intangible assets’ useful lives are revised and the impact on amortization reflected on a prospective basis. See Note G – Goodwill and intangible assets, net – for further discussion of intangible assets.

Derivative instruments and hedging activities

Derivative instruments and hedging activities:

Commodity Price Risk.

Interest Rate Risk.

Revenue recognition

Revenue recognition: Revenues from our propane and related equipment sales segment are recognized at the time product is delivered with payments generally due 30 days after receipt. Amounts are considered past due after 30 days. Ferrellgas determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions. Ferrellgas offers “even pay” billing programs that can create customer deposits or advances. Revenue is recognized from these customer deposits or advances to customers at the time product is delivered. Other revenues, which include revenue from the sale of propane appliances and equipment is recognized at the time of delivery or installation. Ferrellgas recognizes shipping and handling revenues and expenses for sales of propane, appliances and equipment at the time of delivery or installation. Shipping and handling revenues are included in the price of propane charged to customers, and are classified as revenue. Revenues from annually billed, non-refundable propane tank rentals are recognized in “Revenues: other” on a straight-line basis over one year.

Shipping and handling expenses

Shipping and handling expenses: Shipping and handling expenses related to delivery personnel, vehicle repair and maintenance and general liability expenses within our propane and related equipment sales segment are classified within “Operating expense” in the consolidated statements of earnings. Depreciation expenses on delivery vehicles Ferrellgas owns are classified within “Depreciation and amortization expense.” Delivery vehicles and distribution technology leased by Ferrellgas are classified within “Equipment lease expense.” See Note E – Supplemental financial statement information – for the financial statement presentation of shipping and handling expenses.

Cost of product sold

Cost of product sold: “Cost of product sold – propane and other gas liquids sales” includes all costs to acquire propane and other gas liquids, the costs of storing and transporting inventory prior to delivery to Ferrellgas’ customers, the results from risk management activities to hedge related price risk and the costs of materials related to the refurbishment of Ferrellgas’ portable propane tanks. “Cost of product sold – other” primarily includes costs related to the sale of propane appliances and equipment and transportation costs related to the processing and disposal of salt water.

Operating expenses

Operating expenses: “Operating expense” primarily includes the personnel, vehicle, delivery, handling, plant, office, selling, marketing, credit and collections and other expenses related to our propane and related equipment and supplies and midstream operations segments.

General and administrative expenses

General and administrative expenses: “General and administrative expense” primarily includes personnel and incentive expense related to executives, and employees and other overhead expense related to centralized corporate functions.

Stock-based and unit option plans

Stock-based plan:

Ferrell Companies, Inc. Incentive Compensation Plan (“ICP”)

Income taxes

Income taxes: Ferrellgas Partners is a publicly-traded master limited partnership with one subsidiary that is a taxable corporation. The operating partnership is a limited partnership with three subsidiaries that are taxable corporations. Partnerships are generally not subject to federal income tax, although publicly-traded partnerships are treated as corporations for federal income tax purposes and therefore subject to Federal income tax unless a qualifying income test is satisfied. If this qualifying income test is satisfied, the publicly-traded partnership will be treated as a partnership for Federal income tax purposes. Based on Ferrellgas’ calculations, Ferrellgas Partners satisfies the qualifying income test. As a result, except for the taxable corporations, Ferrellgas Partners’ earnings or losses for Federal income tax purposes are included in the tax returns of the individual partners, Ferrellgas Partners’ unitholders. Accordingly, the accompanying consolidated financial statements of Ferrellgas Partners reflect federal income taxes related to the above mentioned taxable corporations and certain states that allow for income taxation of partnerships. Net earnings for financial statement purposes may differ significantly from taxable income reportable to Ferrellgas Partners unitholders as a result of differences between the tax basis and financial reporting basis of assets and liabilities, the taxable income allocation requirements under Ferrellgas Partners’ partnership agreement and differences between Ferrellgas Partners financial reporting year end and its calendar tax year end.

Income tax expense consisted of the following:



	For the year ended July 31,
	2014		2013		2012
Current expense	$	2,428	$	1,722	$	215
Deferred expense	88		133		913
Income tax expense	$	2,516	$	1,855	$	1,128

Deferred taxes consisted of the following:



	July 31,
	2014			2013
Deferred tax assets	$	1,152		$	1,367
Deferred tax liabilities	(4,313		)	(4,602		)
Net deferred tax liability	$	(3,161	)	$	(3,235	)

Sales taxes

Sales taxes: Ferrellgas accounts for the collection and remittance of sales tax on a net tax basis. As a result, these amounts are not reflected in the consolidated statements of earnings.

Net earnings (loss) per common unitholders' interest

Net earnings (loss) per common unitholders’ interest: Net earnings (loss) per common unitholders’ interest is computed by dividing “Net earnings (loss) attributable to Ferrellgas Partners, L.P.,” after deducting the general partner's 1% interest, by the weighted average number of outstanding common units and the dilutive effect, if any, of outstanding unit options. See Note O – Net earnings (loss) per common unitholders’ interest – for further discussion about these calculations.

New accounting standards

New accounting standards:

FASB Accounting Standard Update No. 2010-28

FASB Accounting Standard Update No. 2011-4

FASB Accounting Standard Update Nos. 2011-05 and 2011-12

FASB Accounting Standard Update No. 2011-08

FASB Accounting Standard Update No. 2012-02

FASB Accounting Standard Update No. 2014-09

FASB Accounting Standard Update No. 2014-08

Ferrellgas, L.P. [Member]

Principles of consolidation

Accounting estimates

Principles of consolidation: The accompanying consolidated financial statements present the consolidated financial position, results of operations and cash flows of Ferrellgas, L.P. and its subsidiaries after elimination of all intercompany accounts and transactions. Ferrellgas, L.P. consolidates the following wholly-owned entities: Sable Environmental, LLC, Sable SWD 2, LLC, Blue Rhino Global Sourcing, Inc., Blue Rhino Canada, Inc., Ferrellgas Real Estate, Inc., Ferrellgas Finance Corp. and Ferrellgas Receivables, LLC (“Ferrellgas Receivables”), a special purpose entity that has agreements with Ferrellgas, L.P. to securitize, on an ongoing basis, a portion of its trade accounts receivable.

Supplemental cash flow information

Supplemental cash flow information: For purposes of the consolidated statements of cash flows, Ferrellgas, L.P. considers cash equivalents to include all highly liquid debt instruments purchased with an original maturity of three months or less. Certain cash flow and significant non-cash activities are presented below:



	For the year ended July 31,
	2014		2013		2012
CASH PAID FOR:
Interest	$	75,121	$	68,334	$	72,999
Income taxes	$	771	$	534	$	756
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets contributed from Ferrellgas Partners in connection with acquisitions	$	1,500	$	—	$	1,300
Liabilities incurred in connection with acquisitions	$	4,312	$	2,035	$	2,321
Change in accruals for property, plant and equipment additions	$	978	$	533	$	233

Fair value measurements

Fair value measurements: Ferrellgas L.P. measures certain of its assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants – in either the principal market or the most advantageous market. The principal market is the market with the greatest level of activity and volume for the asset or liability.


•	Level 1: Quoted prices in active markets for identical assets or liabilities.


•	Level 2: Quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.


•	Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable.

Accounts receivable securitization

Accounts receivable securitization: Through its wholly-owned and consolidated subsidiary Ferrellgas Receivables, Ferrellgas, L.P. has agreements to securitize, on an ongoing basis, a portion of its trade accounts receivable.

Inventories

Inventories: Inventories are stated at the lower of cost or market using weighted average cost and actual cost methods.

Property, plant and equipment

Property, plant and equipment: Property, plant and equipment are stated at cost less accumulated depreciation. Expenditures for maintenance and routine repairs are expensed as incurred. Ferrellgas, L.P. capitalizes computer software, equipment replacement and betterment expenditures that upgrade, replace or completely rebuild major mechanical components and extend the original useful life of the equipment. Depreciation is calculated using the straight-line method based on the estimated useful lives of the assets ranging from two to 30 years. Ferrellgas, L.P., using its best estimates based on reasonable and supportable assumptions and projections, reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of its assets might not be recoverable. See Note E – Supplemental financial statement information – for further discussion of property, plant and equipment.

Goodwill

Goodwill: Ferrellgas, L.P. records goodwill as the excess of the cost of acquisitions over the fair value of the related net assets at the date of acquisition. Goodwill recorded is not deductible for income tax purposes. Ferrellgas, L.P. has determined that it has four reporting units for goodwill impairment testing purposes. Three of these reporting units contain goodwill that is subject to at least an annual assessment for impairment by applying a fair-value-based test. Under this test, the carrying value of each reporting unit is determined by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units as of the date of the evaluation on a specific identification basis. To the extent a reporting unit’s carrying value exceeds its fair value, an indication exists that the reporting unit’s goodwill may be impaired and the second step of the impairment test must be performed. In the second step, the implied fair value of the goodwill is determined by allocating the fair value of all of its assets (recognized and unrecognized) and liabilities to its carrying amount. Ferrellgas, L.P. has completed the impairment test for the Retail operations and Products reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2014. Goodwill associated with the Midstream operations reporting unit is a result of our acquisition of Sable Environmental, LLC and Sable SWD 2, LLC (collectively "Sable") on May 1, 2014.

Intangible assets

Intangible assets: Intangible assets with finite useful lives, consisting primarily of customer related assets, non-compete agreements, permits, favorable lease arrangements and patented technology, are stated at cost, net of accumulated amortization calculated using the straight-line method over periods ranging from two to 15 years. Trade names and trademarks have indefinite lives, are not amortized, and are stated at cost. Ferrellgas, L.P. tests finite-lived intangible assets for impairment when events or changes in circumstances indicate that the carrying amount of these assets might not be recoverable. Ferrellgas, L.P. tests indefinite-lived intangible assets for impairment annually on January 31 or more frequently if circumstances dictate. Ferrellgas, L.P. has not recognized impairment losses as a result of these tests. When necessary, intangible assets’ useful lives are revised and the impact on amortization reflected on a prospective basis. See Note G – Goodwill and intangible assets, net – for further discussion of intangible assets.

Derivative instruments and hedging activities

Derivatives instruments and hedging activities:

Commodity Price Risk.

Interest Rate Risk.

Ferrellgas enters into cash flow hedges to help reduce its variable interest rate risk. Interest rate swaps are used to hedge the risk associated with rising interest rates and their effect on forecasted interest payments related to variable rate borrowings. These interest rate swaps are designated as cash flow hedges. Thus, the effective portions of changes in the fair value of the hedges are recorded in ”Prepaid expenses and other current assets”, “Other assets, net”, “Other current liabilities” or as “Other liabilities” with an offsetting entry to “Other comprehensive income” at interim periods and are subsequently recognized as interest expense in the consolidated statement of earnings when the forecasted transaction impacts earnings. Changes in the fair value of any cash flow hedges that are considered ineffective are recognized as interest expense on the consolidated statement of earnings as they occur.

Revenue recognition

Revenue recognition: Revenues from our propane and related equipment sales segment are recognized at the time product is delivered with payments generally due 30 days after receipt. Amounts are considered past due after 30 days. Ferrellgas determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions. Ferrellgas offers “even pay” billing programs that can create customer deposits or advances. Revenue is recognized from these customer deposits or advances to customers at the time product is delivered. Other revenues, which include revenue from the sale of propane appliances and equipment is recognized at the time of delivery or installation. Ferrellgas, L.P. recognizes shipping and handling revenues and expenses for sales of propane, appliances and equipment at the time of delivery or installation. Shipping and handling revenues are included in the price of propane charged to customers, and are classified as revenue. Revenues from annually billed, non-refundable propane tank rentals are recognized in “Revenues: other” on a straight-line basis over one year.

Shipping and handling expenses

Shipping and handling expenses: Shipping and handling expenses related to delivery personnel, vehicle repair and maintenance and general liability expenses within our propane and related equipment sales segment are classified within “Operating expense” in the consolidated statements of earnings. Depreciation expenses on delivery vehicles Ferrellgas, L.P. owns are classified within “Depreciation and amortization expense.” Delivery vehicles and distribution technology leased by Ferrellgas, L.P. are classified within “Equipment lease expense.” See Note E – Supplemental financial statement information – for the financial statement presentation of shipping and handling expenses.

Cost of product sold

Cost of product sold: “Cost of product sold – propane and other gas liquids sales” includes all costs to acquire propane and other gas liquids, the costs of storing and transporting inventory prior to delivery to Ferrellgas, L.P.’s customers, the results from risk management activities to hedge related price risk and the costs of materials related to the refurbishment of Ferrellgas, L.P.’s portable propane tanks. “Cost of product sold – other” primarily includes costs related to the sale of propane appliances and equipment and supplies and transportation costs related to the processing and disposal of salt water.

Operating expenses

Operating expenses: “Operating expense” primarily includes the personnel, vehicle, delivery, handling, plant, office, selling, marketing, credit and collections and other expenses related to the retail distribution of propane and related equipment and supplies and midstream operations segment.

General and administrative expenses

Stock-based and unit option plans

Stock-based plan:

Ferrell Companies, Inc. Incentive Compensation Plan (“ICP”)

Income taxes

Income taxes: Ferrellgas, L.P. is a limited partnership and owns three subsidiaries that are taxable corporations. As a result, except for the taxable corporations, Ferrellgas, L.P.’s earnings or losses for federal income tax purposes are included in the tax returns of the individual partners. Accordingly, the accompanying consolidated financial statements of Ferrellgas, L.P. reflect federal income taxes related to the above mentioned taxable corporations and certain states that allow for income taxation of partnerships. Net earnings for financial statement purposes may differ significantly from taxable income reportable to partners as a result of differences between the tax basis and financial reporting basis of assets and liabilities, the taxable income allocation requirements under Ferrellgas, L.P.’s partnership agreement and differences between Ferrellgas, L.P.’s financial reporting year end and limited partners tax year end.

Income tax expense consisted of the following:



	For the year ended July 31,
	2014		2013		2012
Current expense	$	2,383	$	1,705	$	207
Deferred expense	88		133		913
Income tax expense	$	2,471	$	1,838	$	1,120

Deferred taxes consisted of the following:



	July 31,
	2014			2013
Deferred tax assets	$	1,152		$	1,367
Deferred tax liabilities	(4,313		)	(4,602		)
Net deferred tax liability	$	(3,161	)	$	(3,235	)

Sales taxes

Sales taxes: Ferrellgas, L.P. accounts for the collection and remittance of sales tax on a net tax basis. As a result, these amounts are not reflected in the consolidated statements of earnings.

New accounting standards

New accounting standards:

FASB Accounting Standard Update No. 2010-28

In December 2010, the Financial Accounting Standards Board (“FASB”) issued FASB Accounting Standard Update No. 2010-28 (ASU 2010-28), which modifies Step 1 of the goodwill impairment test for reporting units with zero or negative carrying amounts. For those reporting units, an entity is required to perform Step 2 of the goodwill impairment test if it is more likely than not that a goodwill impairment exists. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2010. Ferrellgas, L.P.’s adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2011-4

In May 2011, the FASB issued ASU 2011-04, “Amendments to Achieve Common Fair Value Measurements and Disclosure Requirements in U.S. GAAP and IFRS.” The amendments result in common fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards (“IFRS”). The new guidance applies to all reporting entities that are required or permitted to measure or disclose the fair value of an asset, liability or an instrument classified in shareholders’ equity. Among other things, the new guidance requires quantitative information about unobservable inputs, valuation processes and sensitivity analysis associated with fair value measurements categorized within Level 3 of the fair value hierarchy. The new guidance is effective for interim periods beginning after December 31, 2011 and is required to be applied prospectively. Ferrellgas, L.P.’s adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update Nos. 2011-05 and 2011-12

In June 2011, the FASB issued ASU 2011-05, which revises the presentation of comprehensive income in the financial statements. The new guidance requires entities to report components of comprehensive income in either a continuous statement of comprehensive income or two separate but consecutive statements. In December 2011, the FASB issued ASU 2011-12, which indefinitely defers certain provisions of ASU 2011-05. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. Ferrellgas, L.P.'s adoption of this guidance in fiscal 2012 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2011-08

In September 2011, the FASB issued ASU 2011-08, which amends the existing guidance on goodwill impairment testing. Under the new guidance, entities testing goodwill for impairment have the option of performing a qualitative assessment before calculating the fair value of the reporting unit. If an entity determines, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not less than the carrying amount, the two-step impairment test would be required. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Ferrellgas L.P.'s adoption of this guidance in fiscal 2013 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2012-02

In July 2012, the FASB issued ASU 2012-02, which amends the existing guidance on impairment testing of indefinite-lived intangible assets. Under the new guidance, entities testing indefinite-lived intangible assets for impairment have the option of performing a qualitative assessment before calculating the fair value of the asset. If an entity determines, on the basis of qualitative factors, that the fair value of the asset is more likely than not less than the carrying amount, the two-step impairment test would be required. This guidance is effective for annual and interim indefinite-lived intangible asset impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted. Ferrellgas L.P.'s adoption of this guidance in fiscal 2013 did not have a significant impact on its financial position, results of operations or cash flows.

FASB Accounting Standard Update No. 2014-09

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. GAAP and IFRS and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The new standard will supersede much of the existing authoritative literature for revenue recognition. The standard and related amendments will be effective for Ferrellgas L.P. for its annual reporting period beginning August 1, 2017, including interim periods within that reporting period. Early application is not permitted. Entities are allowed to transition to the new standard by either recasting prior periods or recognizing the cumulative effect. Ferrellgas L.P. is currently evaluating the newly issued guidance, including which transition approach will be applied and the estimated impact it will have on our consolidated financial statements.

FASB Accounting Standard Update No. 2014-08

In April 2014, the FASB issued ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, to change the criteria for determining which disposals can be presented as discontinued operations and enhanced the related disclosure requirements. ASU 2014-08 is effective for us on a prospective basis in our first quarter of fiscal 2016 with early adoption permitted for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. Ferrellgas, L.P. is currently evaluating the impact of our pending adoption of ASU 2014-08 on our consolidated financial statements.

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2014

Significant Cash And Non-Cash Activities

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



	For the year ended July 31,
	2014		2013		2012
CASH PAID FOR:
Interest	$	90,820	$	84,030	$	88,696
Income taxes	$	816	$	550	$	764
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common units in connection with acquisitions	$	1,500	$	—	$	1,300
Liabilities incurred in connection with acquisitions	$	4,312	$	2,035	$	2,321
Change in accruals for property, plant and equipment additions	$	978	$	533	$	233

Summary Of Income Tax Expense

Income tax expense consisted of the following:



	For the year ended July 31,
	2014		2013		2012
Current expense	$	2,428	$	1,722	$	215
Deferred expense	88		133		913
Income tax expense	$	2,516	$	1,855	$	1,128

Deferred Tax Assets And Liabilities

Deferred taxes consisted of the following:



	July 31,
	2014			2013
Deferred tax assets	$	1,152		$	1,367
Deferred tax liabilities	(4,313		)	(4,602		)
Net deferred tax liability	$	(3,161	)	$	(3,235	)

Ferrellgas, L.P. [Member]

Significant Cash And Non-Cash Activities

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



	For the year ended July 31,
	2014		2013		2012
CASH PAID FOR:
Interest	$	75,121	$	68,334	$	72,999
Income taxes	$	771	$	534	$	756
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets contributed from Ferrellgas Partners in connection with acquisitions	$	1,500	$	—	$	1,300
Liabilities incurred in connection with acquisitions	$	4,312	$	2,035	$	2,321
Change in accruals for property, plant and equipment additions	$	978	$	533	$	233

Summary Of Income Tax Expense

Income tax expense consisted of the following:



	For the year ended July 31,
	2014		2013		2012
Current expense	$	2,383	$	1,705	$	207
Deferred expense	88		133		913
Income tax expense	$	2,471	$	1,838	$	1,120

Deferred Tax Assets And Liabilities

Deferred taxes consisted of the following:



	July 31,
	2014			2013
Deferred tax assets	$	1,152		$	1,367
Deferred tax liabilities	(4,313		)	(4,602		)
Net deferred tax liability	$	(3,161	)	$	(3,235	)

Business Combinations (Tables)

12 Months Ended

Jul. 31, 2014

Schedule Of Funding Of Acquisitions

These acquisitions, for the propane and related equipment sales and midstream operations reportable segments, respectively, were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2014				2013				2012
	Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Cash payments, net of cash acquired	$	34,219	$	127,785	$	37,186	$	—	$	10,387	$	—
Issuance of liabilities and other costs and considerations	2,942		2,555		2,035		—		2,347		—
Common units, net of issuance costs	1,500		—		—		—		1,300		—
Aggregate fair value of transactions	$	38,661	$	130,340	$	39,221	$	—	$	14,034	$	—

Aggregate Fair Value Of Transaction

The aggregate fair values, for the acquisitions in propane and related equipment sales and midstream operations reporting segments, respectively, were allocated as follows:



	For the year ended July 31,
	2014					2013				2012
	Propane and related equipment sales			Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Working capital	$	(919	)	$	490	$	7,302	$	—	$	—	$	—
Customer tanks, buildings, land and other	14,519			622		5,155		—		7,454		—
Salt water disposal wells	—			24,288		—		—		—		—
Goodwill	2,922			16,957		4,640		—		—		—
Customer lists	19,480			64,000		12,211		—		5,574		—
Non-compete agreements	2,659			13,300		944		—		1,006		—
Permits and favorable lease arrangements	—			10,683		—		—		—		—
Other intangibles	—			—		5,678		—		—		—
Trade names & trademarks	—			—		3,291		—		—		—
Aggregate fair value of transactions	$	38,661		$	130,340	$	39,221	$	—	$	14,034	$	—

Ferrellgas, L.P. [Member]

Schedule Of Funding Of Acquisitions

These acquisitions, for the propane and related equipment sales and midstream operations reportable segments, respectively, were funded as follows:



	For the year ended July 31,
	2014				2013				2012
	Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Cash payments, net of cash acquired	$	34,234	$	127,785	$	37,186	$	—	$	10,400	$	—
Issuance of liabilities and other costs and considerations	2,927		2,555		2,035		—		2,334		—
Contribution of net assets from Ferrellgas Partners	1,500		—		—		—		1,300		—
Aggregate fair value of transactions	$	38,661	$	130,340	$	39,221	$	—	$	14,034	$	—

Aggregate Fair Value Of Transaction

The aggregate fair values, for the acquisitions in propane and related equipment sales and midstream operations reporting segments, respectively, were allocated as follows:



	For the year ended July 31,
	2014					2013				2012
	Propane and related equipment sales			Midstream operations		Propane and related equipment sales		Midstream operations		Propane and related equipment sales		Midstream operations
Working capital	$	(919	)	$	490	$	7,302	$	—	$	—	$	—
Customer tanks, buildings, land and other	14,519			622		5,155		—		7,454		—
Salt water disposal wells	—			24,288		—		—		—		—
Goodwill	2,922			16,957		4,640		—		—		—
Customer lists	19,480			64,000		12,211		—		5,574		—
Non-compete agreements	2,659			13,300		944		—		1,006		—
Permits and favorable lease arrangements	—			10,683		—		—		—		—
Other intangibles	—			—		5,678		—		—		—
Trade names & trademarks	—			—		3,291		—		—		—
Aggregate fair value of transactions	$	38,661		$	130,340	$	39,221	$	—	$	14,034	$	—

Supplemental Financial Statement Information (Tables)

12 Months Ended

Jul. 31, 2014

Schedule Of Inventories

Inventories consist of the following:



	2014		2013
Propane gas and related products	$	121,111	$	94,946
Appliances, parts and supplies	24,858		22,170
Inventories	$	145,969	$	117,116

Property, Plant And Equipment

Property, plant and equipment, net consist of the following:



	Estimated useful lives	2014		2013
Land	Indefinite	$	31,890	$	30,978
Land improvements	2-20	12,812		12,021
Buildings and improvements	20	68,492		67,050
Vehicles, including transport trailers	8-20	95,701		101,224
Bulk equipment and district facilities	5-30	109,739		107,835
Tanks, cylinders and customer equipment	2-30	772,402		767,365
Salt water disposal wells and related equipment	2-23	24,288		—
Computer and office equipment	2-5	116,265		117,718
Construction in progress	n/a	7,029		3,077
		1,238,618		1,207,268
Less: accumulated depreciation		626,831		617,541
Property, plant and equipment, net		$	611,787	$	589,727

Other Current Liabilities

Other current liabilities consist of the following:



	2014		2013
Accrued interest	$	12,182	$	19,795
Accrued payroll	37,120		30,295
Customer deposits and advances	25,412		20,420
Other	50,447		50,592
Other current liabilities	$	125,161	$	121,102

Shipping And Handling Expenses

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



	For the year ended July 31,
	2014		2013		2012
Operating expense	$	190,999	$	181,932	$	177,903
Depreciation and amortization expense	5,829		5,744		6,545
Equipment lease expense	15,807		14,028		12,841
	$	212,635	$	201,704	$	197,289

Ferrellgas, L.P. [Member]

Schedule Of Inventories

Inventories consist of the following:



	2014		2013
Propane gas and related products	$	121,111	$	94,946
Appliances, parts and supplies	24,858		22,170
Inventories	$	145,969	$	117,116

Property, Plant And Equipment

Property, plant and equipment, net consist of the following:



	Estimated useful lives	2014		2013
Land	Indefinite	$	31,890	$	30,978
Land improvements	2-20	12,812		12,021
Buildings and improvements	20	68,492		67,050
Vehicles, including transport trailers	8-20	95,701		101,224
Bulk equipment and district facilities	5-30	109,739		107,835
Tanks, cylinders and customer equipment	2-30	772,402		767,365
Salt water disposal wells and related equipment	2-23	24,288		—
Computer and office equipment	2-5	116,265		117,718
Construction in progress	n/a	7,029		3,077
		1,238,618		1,207,268
Less: accumulated depreciation		626,831		617,541
Property, plant and equipment, net		$	611,787	$	589,727

Other Current Liabilities

Other current liabilities consist of the following:



	2014		2013
Accrued interest	$	10,176	$	17,787
Accrued payroll	37,120		30,295
Customer deposits and advances	25,412		20,420
Other	50,445		50,401
Other current liabilities	$	123,153	$	118,903

Shipping And Handling Expenses

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



	For the year ended July 31,
	2014		2013		2012
Operating expense	$	190,999	$	181,932	$	177,903
Depreciation and amortization expense	5,829		5,744		6,545
Equipment lease expense	15,807		14,028		12,841
	$	212,635	$	201,704	$	197,289

Goodwill And Intangible Assets, Net (Tables)

12 Months Ended

Jul. 31, 2014

Schedule of Goodwill Rollforward

Goodwill and intangible assets, net consist of the following:



	July 31, 2014							July 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	273,210	$	—		$	273,210	$	253,362	$	—		$	253,362

Intangible assets, net
Amortized intangible assets
Customer related	$	500,100	$	(322,277	)	$	177,823	$	416,620	$	(302,179	)	$	114,441
Non-compete agreements	63,933		(43,120		)	20,813		47,974		(40,994		)	6,980
Permits and favorable lease arrangements	10,683		(119		)	10,564		—		—			—
Other	9,177		(4,592		)	4,585		9,172		(3,445		)	5,727
	583,893		(370,108		)	213,785		473,766		(346,618		)	127,148

Unamortized intangible assets
Trade names & trademarks	62,386					62,386		62,368					62,368
Total intangible assets, net	$	646,279	$	(370,108	)	$	276,171	$	536,134	$	(346,618	)	$	189,516

Changes in the carrying amount of goodwill, by reportable segment, are as follows:



	Propane and related equipment sales			Midstream operations		Total
Balance July 31, 2012	$	248,944		$	—	$	248,944
Acquisitions	4,640			—		4,640
Other	(222		)	—		(222		)
Balance July 31, 2013	253,362			—		253,362
Acquisitions	2,922			16,957		19,879
Other	(31		)	—		(31		)
Balance July 31, 2014	$	256,253		$	16,957	$	273,210

Schedule Of Aggregate Amortization Expense



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2014	$	23,490
2013	21,725
2012	21,604

Schedule Of Estimated Amortization Expense



Estimated amortization expense:
For the year ended July 31,
2015	$	27,950
2016	26,164
2017	25,589
2018	23,034
2019	17,247

Ferrellgas, L.P. [Member]

Schedule of Goodwill Rollforward

Goodwill and intangible assets, net consist of the following:



	July 31, 2014							July 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	273,210	$	—		$	273,210	$	253,362	$	—		$	253,362

Intangible assets, net
Amortized intangible assets
Customer related	$	500,100	$	(322,277	)	$	177,823	$	416,620	$	(302,179	)	$	114,441
Non-compete agreements	63,933		(43,120		)	20,813		47,974		(40,994		)	6,980
Permits and favorable lease arrangements	10,683		(119		)	10,564		—		—			—
Other	9,177		(4,592		)	4,585		9,172		(3,445		)	5,727
	583,893		(370,108		)	213,785		473,766		(346,618		)	127,148

Unamortized intangible assets
Trade names & trademarks	62,386					62,386		62,368					62,368
Total intangible assets, net	$	646,279	$	(370,108	)	$	276,171	$	536,134	$	(346,618	)	$	189,516

Changes in the carrying amount of goodwill, by reportable segment, are as follows:



	Propane and related equipment sales			Midstream operations		Total
Balance July 31, 2012	$	248,944		$	—	$	248,944
Acquisitions	4,640			—		4,640
Other	(222		)	—		(222		)
Balance July 31, 2013	253,362			—		253,362
Acquisitions	2,922			16,957		19,879
Other	(31		)	—		(31		)
Balance July 31, 2014	$	256,253		$	16,957	$	273,210

Schedule Of Aggregate Amortization Expense



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2014	$	23,490
2013	21,725
2012	21,604

Schedule Of Estimated Amortization Expense



Estimated amortization expense:
For the year ended July 31,
2015	$	27,950
2016	26,164
2017	25,589
2018	23,034
2019	17,247

Debt (Tables)

12 Months Ended

Jul. 31, 2014

Components Of Long-term Debt

Long-term debt consists of the following:



	2014			2013
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000		$	500,000
Fixed rate, 6.75%, due 2022, net of unamortized premium of $5,863 (3)	480,863			—
Fixed rate, 9.125%, due 2017, net of unamortized discount of $2,556 at July 31, 2013	—			297,444
Fixed rate, 8.625%, due 2020 (2)	182,000			182,000
Fair value adjustments related to interest rate swaps	(2,534		)	(1,657		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $69.5 million and $50.1 million classified as short-term borrowings at July 31, 2014 and 2013, respectively)	123,781			121,346

Notes payable
8.8% and 9.1% weighted average interest rate at July 31, 2014 and 2013, respectively, due 2014 to 2022, net of unamortized discount of $2,239 and $2,392 at July 31, 2014 and 2013, respectively	11,727			10,898
	1,295,837			1,110,031
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,623			3,091
Long-term debt	$	1,292,214		$	1,106,940

(1)


(2)	During April 2010, Ferrellgas issued $280.0 million of its fixed rate senior notes. The senior notes bear interest from the date of issuance, payable semi-annually in arrears on June 15 and December 15 of each year. Ferrellgas would incur prepayment penalties if it were to repay the notes prior to 2018. During March 2011, Ferrellgas redeemed $98.0 million of these fixed rate senior notes.

(3)

Scheduled Annual Principal Payments On Long-term Debt

As a result of the above transactions, the scheduled annual principal payments on long-term debt have been updated as follows:



For the year ending July 31,	Scheduled annual principal payments
2015	$	3,623
2016	3,523
2017	3,186
2018	1,704
2019	124,855
Thereafter	1,157,856
Total	$	1,294,747

Ferrellgas, L.P. [Member]

Components Of Long-term Debt

Long-term debt consists of the following:



	2014			2013
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000		$	500,000
Fixed rate, 6.75%, due 2022, net of unamortized premium of $5,863 (2)	480,863			—
Fixed rate, 9.125%, due 2017, net of unamortized discount of $2,556 at July 31, 2013	—			297,444
Fair value adjustments related to interest rate swaps	(2,534		)	(1,657		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $69.5 million and $50.1 million classified as short-term borrowings at July 31, 2014 and 2013, respectively)	123,781			121,346

Notes payable
8.8% and 9.1% weighted average interest rate at July 31, 2014 and 2013, respectively, due 2014 to 2022, net of unamortized discount of $2,239 and $2,392 at July 31, 2014 and 2013, respectively	11,727			10,898
	1,113,837			928,031
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,623			3,091
Long-term debt	$	1,110,214		$	924,940

(1)

(2)

Scheduled Annual Principal Payments On Long-term Debt

The scheduled annual principal payments on long-term debt are as follows:



For the year ending July 31,	Scheduled annual principal payments
2015	$	3,623
2016	3,523
2017	3,186
2018	1,704
2019	124,855
Thereafter	975,856
Total	$	1,112,747

Partners' Capital (Tables)

12 Months Ended

Jul. 31, 2014

Limited Partner Units

As of July 31, 2014 and 2013, limited partner units were beneficially owned by the following:



	2014	2013
Public common unitholders (1)	55,153,208	52,997,790
Ferrell Companies (2)	21,469,664	21,469,664
FCI Trading Corp. (3)	195,686	195,686
Ferrell Propane, Inc. (4)	51,204	51,204
James E. Ferrell (5)	4,358,475	4,358,475

Ferrellgas Paid Cash Distributions

Ferrellgas Partners has paid the following distributions:



	For the year ended July 31,
	2014		2013		2012
Public common unitholders	$	107,164	$	105,934	$	104,192
Ferrell Companies	42,939		42,939		41,550
FCI Trading Corp.	392		392		392
Ferrell Propane, Inc.	104		104		104
James E. Ferrell	8,717		8,717		8,717
General partner	1,609		1,596		1,565
	$	160,925	$	159,682	$	156,520

Ferrellgas, L.P. [Member]

Ferrellgas Paid Cash Distributions

Ferrellgas, L.P. has paid the following distributions:



	For the year ended July 31,
	2014		2013		2012
Ferrellgas Partners	$	176,623	$	175,380	$	172,218
General partner	1,803		1,790		1,757

Subsequent Event [Member]

Dividends Expected To Be Paid To Related Parties

Included in this cash distribution were the following amounts paid to related parties:



Ferrell Companies	$	11,265
FCI Trading Corp.	98
Ferrell Propane, Inc.	26
James E. Ferrell	2,179
General partner	418

Fair Value Measurement (Tables)

12 Months Ended

Jul. 31, 2014

Assets and Liabilities Fair Value Heirarchy



	Asset (Liability)
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total
July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Propane commodity derivatives	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Propane commodity derivatives	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

July 31, 2013:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	3,783		$	—		$	3,783
Commodity derivatives propane swaps	$	—	$	2,532		$	—		$	2,532
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,998	)	$	—		$	(4,998	)
Commodity derivatives propane swaps	$	—	$	(907	)	$	—		$	(907	)

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation



	Contingent consideration liability
Balance at July 31, 2013	$	—
Estimated value at acquisition	1,400
Increase in fair value related to accretion	110
Change in fair value included in earnings	4,890
Balance at July 31, 2014	$	6,400

Fair Value Inputs, Liabilities, Quantitative Information

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2014

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

6,400

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

10% - 70%

N/A

Sensitivity of Unobservable Inputs

As of July 31, 2014, fluctuations in these inputs could have the following effect (in thousands):



	Increase/(decrease)
	5% increase in WACC			5% decrease in WACC		10% increase in best earnings forecast probability		10% decrease in best earnings forecast probability
Change in the fair value of contingent consideration	$	(470	)	$	400	$	840	$	(1,010	)

Ferrellgas, L.P. [Member]

Assets and Liabilities Fair Value Heirarchy



	Asset (Liability)
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Unobservable Inputs (Level 3)			Total
July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Commodity derivatives propane swaps	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Commodity derivatives propane swaps	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

July 31, 2013:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	3,783		$	—		$	3,783
Commodity derivatives propane swaps	$	—	$	2,532		$	—		$	2,532
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,998	)	$	—		$	(4,998	)
Commodity derivatives propane swaps	$	—	$	(907	)	$	—		$	(907	)

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation



	Contingent consideration liability
Balance at July 31, 2013	$	—
Estimated value at acquisition	1,400
Increase in fair value related to accretion	110
Change in fair value included in earnings	4,890
Balance at July 31, 2014	$	6,400

Fair Value Inputs, Liabilities, Quantitative Information

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2014

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

6,400

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

10% - 70%

N/A

Sensitivity of Unobservable Inputs

As of July 31, 2014, fluctuations in these inputs could have the following effect (in thousands):



	Increase/(decrease)
	5% increase in WACC			5% decrease in WACC		10% increase in best earnings forecast probability		10% decrease in best earnings forecast probability
Change in the fair value of contingent consideration	$	(470	)	$	400	$	840	$	(1,010	)

Fair Value of Financial Derivatives Balance Sheet Locations

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details

Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Jul. 31, 2014

The following tables provide a summary of fair value derivatives that were designated as hedging instruments in Ferrellgas’ consolidated balance sheets as of July 31, 2014 and 2013:

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Propane commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

July 31, 2013

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

1,400

Other current liabilities

569

Propane commodity derivatives

Other assets, net

1,132

Other liabilities

338

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

3,341

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

442

Other liabilities

4,998

Total

6,315

Total

5,905

Fair Value Hedge Derivative Effect on Earnings



		Amount of Gain Recognized on Derivative				Amount of Interest Expense Recognized on Fixed-Rated Debt (Related Hedged Item)
Derivative Instrument	Location of Gain Recognized on Derivative	For the year ended July 31,				For the year ended July 31,
		2014		2013		2014			2013
Interest rate swap agreements	Interest expense	$	2,520	$	3,205	$	(11,985	)	$	(21,875	)

Cash Flow Hedge Derivative Effect on Comprehensive Income



	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	15,473		Cost of product sold- propane and other gas liquids sales	$	10,175
Interest rate swap agreements	(881		)	Interest expense	—
	$	14,592			$	10,175



	For the year ended July 31, 2013
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative		Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	2,032	Cost of product sold- propane and other gas liquids sales	$	(10,613	)
Interest rate swap agreements	2,220		Interest expense	—
	$	4,252		$	(10,613	)

Changes in Derivative Value Effect on Other Comprehensive Income Loss

The changes in derivatives included in accumulated other comprehensive income (loss) (“AOCI”) for the years ended July 31, 2014, 2013 and 2012 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2014			2013			2012
Beginning balance	$	2,066		$	(12,799	)	$	5,161
Change in value on risk management commodity derivatives	15,473			2,032			(23,290		)
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales	(10,175		)	10,613			7,108
Change in value on risk management interest rate derivatives	(881		)	2,220			(1,778		)
Ending balance	$	6,483		$	2,066		$	(12,799	)

Ferrellgas, L.P. [Member]

Fair Value of Financial Derivatives Balance Sheet Locations

The following tables provide a summary of the fair value derivatives that were designated as hedging instruments in Ferrellgas, L.P.’s consolidated balance sheets as of July 31, 2014 and 2013:

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Propane commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

July 31, 2013

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Propane commodity derivatives

Prepaid expenses and other current assets

1,400

Other current liabilities

569

Propane commodity derivatives

Other assets, net

1,132

Other liabilities

338

Interest rate swap agreements, current portion

Prepaid expenses and other current assets

3,341

Other current liabilities

—

Interest rate swap agreements, noncurrent portion

Other assets, net

442

Other liabilities

4,998

Total

6,315

Total

5,905

Fair Value Hedge Derivative Effect on Earnings



		Amount of Gain Recognized on Derivative				Amount of Interest Expense Recognized on Fixed-Rated Debt (Related Hedged Item)
Derivative Instrument	Location of Gain Recognized on Derivative	For the year ended July 31,				For the year ended July 31,
		2014		2013		2014			2013
Interest rate swap agreements	Interest expense	$	2,520	$	3,205	$	(11,985	)	$	(21,875	)

Cash Flow Hedge Derivative Effect on Comprehensive Income



	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	15,473		Cost of product sold- propane and other gas liquids sales	$	10,175
Interest rate swap agreements	(881		)	Interest expense	—
	$	14,592			$	10,175


	For the year ended July 31, 2013
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI on Derivative			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives propane swaps	$	2,032		Cost of product sold- propane and other gas liquids sales	$	(10,613	)
Interest rate swap agreements	2,220			Interest expense	—
	$	4,252			$	(10,613	)

Changes in Derivative Value Effect on Other Comprehensive Income Loss

The changes in derivatives included in accumulated other comprehensive income (loss) (“AOCI”) for the years ended July 31, 2014, 2013 and 2012 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2014			2013			2012
Beginning balance	$	2,066		$	(12,799	)	$	5,161
Change in value on risk management commodity derivatives	15,473			2,032			(23,290		)
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales	(10,175		)	10,613			7,108
Change in value on risk management interest rate derivatives	(881		)	2,220			(1,778		)
Ending balance	$	6,483		$	2,066		$	(12,799	)

Contingencies And Commitments (Tables)

12 Months Ended

Jul. 31, 2014

Contractual Operating Lease Commitments And Buyouts

The following table summarizes Ferrellgas’ contractual operating lease commitments and buyout obligations as of July 31, 2014:



	Future minimum rental and buyout amounts by fiscal year
	2015		2016		2017		2018		2019		Thereafter
Operating lease obligations	$	31,635	$	26,182	$	21,120	$	16,456	$	11,798	$	11,884

Operating lease buyouts	$	1,448	$	2,054	$	1,509	$	2,746	$	2,893	$	6,649

Ferrellgas, L.P. [Member]

Contractual Operating Lease Commitments And Buyouts

The following table summarizes Ferrellgas, L.P.’s contractual operating lease commitments and buyout obligations as of July 31, 2014:



	Future minimum rental and buyout amounts by fiscal year
	2015		2016		2017		2018		2019		Thereafter
Operating lease obligations	$	31,635	$	26,182	$	21,120	$	16,456	$	11,798	$	11,884

Operating lease buyouts	$	1,448	$	2,054	$	1,509	$	2,746	$	2,893	$	6,649

Earnings Distribution Allocation

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References+ Details

Net Earnings (Loss) Per Common Unitholders' Interest (Tables)

12 Months Ended

Jul. 31, 2014

Earnings Per Share [Abstract]

In periods with undistributed earnings above certain levels, the calculation according to the two-class method results in an increased allocation of undistributed earnings to the general partner and a dilution of the earnings to the limited partners as follows.



	Ratio of total distributions payable to:
Quarterly distribution per common unit	Common unitholder		General partner
$0.56 to $0.63	86.9	%	13.1	%
$0.64 to $0.82	76.8	%	23.2	%
$0.83 and above	51.5	%	48.5	%

Basic And Diluted Net Earnings Per Common Unitholders' Interest



	For the year ended July 31,
	2014		2013		2012
Common unitholders’ interest in net earnings (loss)	$	32,879	$	55,862	$	(10,842	)

Weighted average common units outstanding (in thousands)	79,651.1		79,038.6		77,572.4

Dilutive securities	20.6		37.0		—

Weighted average common units outstanding plus dilutive securities	79,671.7		79,075.6		77,572.4

Basic and diluted net earnings (loss) per common unitholders’ interest	$	0.41	$	0.71	$	(0.14	)

Segment Reporting Segment Reporting (Tables)

12 Months Ended

Jul. 31, 2014

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Following is a reconciliation of our total segment performance measure to consolidated net earnings:



	Year Ended July 31,
	2014

Net earnings attributable to Ferrellgas Partners, L.P.	$	33,211
Income tax expense		2,516
Interest expense		86,502
Depreciation and amortization expense		84,202
EBITDA		206,431
Loss on extinguishment of debt		21,202
Non-cash employee stock ownership plan compensation charge		21,789
Non-cash stock and unit-based compensation charge		24,508
Loss on disposal of assets		6,486
Other expense (income), net		479
Change in fair value of contingent consideration		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		1,749
Net earnings attributable to noncontrolling interest		504
Adjusted EBITDA	$	288,148

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:



	July 31,
	2014

Assets
Propane and related equipment sales	$	1,400,603
Midstream operations		136,116
Corporate and unallocated		35,551
Total consolidated assets	$	1,572,270

Profit Measure [Member]

Schedule of Segment Reporting Information, by Segment

Following is a summary of segment information for the year ended July 31, 2014.



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other			Total



Segment revenues	$	2,398,425	$	7,435	$	—		$	2,405,860
Direct costs (1)		2,067,133		3,997		46,582			2,117,712
Adjusted EBITDA	$	331,292	$	3,438	$	(46,582	)	$	288,148

Capital Expenditures [Member]

Schedule of Segment Reporting Information, by Segment

Following are capital expenditures by segment:



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other		Total



Maintenance	$	14,682	$	181	$	3,275	$	18,138
Growth		30,501		1,715		627		32,843
Total	$	45,183	$	1,896	$	3,902	$	50,981

Ferrellgas, L.P. [Member]

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

Following is a reconciliation of our total segment performance measure to consolidated net earnings:



	Year Ended July 31,
	2014

Net earnings	$	49,907
Income tax expense		2,471
Interest expense		70,332
Depreciation and amortization expense		84,202
EBITDA		206,912
Loss on extinguishment of debt		21,202
Non-cash employee stock ownership plan compensation charge		21,789
Non-cash stock and unit-based compensation charge		24,508
Loss on disposal of assets		6,486
Other expense (income), net		479
Change in fair value of contingent consideration		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		1,749
Adjusted EBITDA	$	288,125

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:



	July 31,
	2014

Assets
Propane and related equipment sales	$	1,400,603
Midstream operations		136,116
Corporate and unallocated		33,114
Total consolidated assets	$	1,569,833

Ferrellgas, L.P. [Member] | Profit Measure [Member]

Schedule of Segment Reporting Information, by Segment

Following is a summary of segment information for the year ended July 31, 2014.



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other			Total



Segment revenues	$	2,398,425	$	7,435	$	—		$	2,405,860
Direct costs (1)		2,067,156		3,997		46,582			2,117,735
Adjusted EBITDA	$	331,269	$	3,438	$	(46,582	)	$	288,125

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

Schedule of Segment Reporting Information, by Segment

Following are capital expenditures by segment:



	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations		Corporate and other		Total



Maintenance	$	14,682	$	181	$	3,275	$	18,138
Growth		30,501		1,715		627		32,843
Total	$	45,183	$	1,896	$	3,902	$	50,981

Summarized Unaudited Quarterly Data

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Quarterly Data (Unaudited) (Tables)

12 Months Ended

Jul. 31, 2014



For the year ended July 31, 2014	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	415,030		$	869,683	$	722,117	$	399,030
Gross margin from propane and other gas liquids sales (a)	123,469			237,940		202,861		126,685
Net earnings (loss)	(25,057		)	61,123		45,890		(48,241		)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(24,843		)	60,464		45,385		(47,795		)
Common unitholders’ interest in net earnings (loss)	(24,595		)	59,860		44,931		(47,317		)

Basic and diluted net earnings (loss) per common unitholders’ interest	$	(0.31	)	$	0.72	$	0.57	$	(0.58	)


For the year ended July 31, 2013	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	362,909		$	658,865	$	603,020	$	350,673
Gross margin from propane and other gas liquids sales (a)	121,624			206,838		195,201		123,343
Net earnings (loss)	(17,796		)	58,843		45,180		(29,060		)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(17,658		)	58,207		44,681		(28,804		)
Common unitholders’ interest in net earnings (loss)	(17,481		)	55,069		44,234		(28,516		)

Basic and diluted net earnings (loss) per common unitholders’ interest	$	(0.22	)	$	0.70	$	0.56	$	(0.36	)


(a)	Gross margin from “Propane and other gas liquids sales” represents “Revenues - Propane and other gas liquids sales” less “Cost of product sold – propane and other gas liquids sales.”

Ferrellgas, L.P. [Member]

Summarized Unaudited Quarterly Data



For the year ended July 31, 2014	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	415,030		$	869,683	$	722,117	$	399,030
Gross margin from propane and other gas liquids sales (a)	123,469			237,940		202,861		126,685
Net earnings (loss)	$	(21,138	)	$	65,171	$	50,053	$	(44,179	)

For the year ended July 31, 2013	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	362,909		$	658,865	$	603,020	$	350,673
Gross margin from propane and other gas liquids sales (a)	121,624			206,838		195,201		123,343
Net earnings (loss)	$	(13,692	)	$	62,953	$	49,396	$	(25,282	)


(a)	Gross margin from “Propane and other gas liquids sales” represents “Revenues - Propane and other gas liquids sales” less “Cost of product sold – propane and other gas liquids sales.”

Schedule I Parent Only Balance Sheets, Statements Of Earnings And Cash Flows (Tables) (Parent Company [Member])

12 Months Ended

Jul. 31, 2014

Parent Company [Member]

Schedule Of Parent Only Balance Sheet



				Schedule 1
FERRELLGAS PARTNERS, L.P.
PARENT ONLY
BALANCE SHEETS
(in thousands, except unit data)
	July 31,
	2014			2013
ASSETS

Cash and cash equivalents	$	6		$	157
Prepaid expenses and other current assets	—			26
Investment in Ferrellgas, L.P.	69,205			93,507
Other assets, net	2,439			2,913
Total assets	$	71,650		$	96,603

LIABILITIES AND PARTNERS' DEFICIT

Other current liabilities	$	2,016		$	2,199
Long-term debt	182,000			182,000

Partners' deficit
Common unitholders (81,228,237 and 79,072,819 units outstanding at 2014 and 2013, respectively)	(57,893		)	(28,931		)
General partner (820,487 and 798,715 units outstanding at 2014 and 2013, respectively)	(60,654		)	(60,362		)
Accumulated other comprehensive income	6,181			1,697
Total Ferrellgas Partners, L.P. partners' deficit	(112,366		)	(87,596		)
Total liabilities and partners' deficit	$	71,650		$	96,603

Schedule Of Parent Only Statement Of Earnings



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF EARNINGS
(in thousands)
	For the year ended July 31,
	2014			2013			2012
Equity in earnings of Ferrellgas, L.P.	$	49,403		$	72,634		$	5,533
Operating expense	23			(20		)	(350		)

Operating income	49,426			72,614			5,183

Interest expense	(16,170		)	(16,171		)	(16,127		)
Income tax expense	(45		)	(17		)	(8		)

Net earnings (loss)	$	33,211		$	56,426		$	(10,952	)

Schedule Of Parent Only Statement Of Cash



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF CASH FLOWS
(in thousands)
	For the year ended July 31,
	2014			2013			2012
Cash flows from operating activities:
Net earnings (loss)	$	33,211		$	56,426		$	(10,952	)
Reconciliation of net earnings (loss) to net cash used in operating activities:
Other	426			383			398
Equity in earnings of Ferrellgas, L.P.	(49,403		)	(72,634		)	(5,533		)
Net cash used in operating activities	(15,766		)	(15,825		)	(16,087		)

Cash flows from investing activities:
Distributions received from Ferrellgas, L.P.	176,623			175,380			172,218
Cash contributed to Ferrellgas, L.P.	(51,105		)	(800		)	(50,700		)
Net cash provided by investing activities	125,518			174,580			121,518

Cash flows from financing activities:
Distributions	(160,925		)	(159,682		)	(156,520		)
Cash paid for financing costs	(94		)	—			(135		)
Issuance of common units (net of issuance costs of $0, $0, and $62 for the years ended July 31, 2014, 2013 and 2012	50,000			—			49,938
Proceeds from exercise of common unit options	605			864			891
Cash contribution from general partners in connection with common unit issuances	511			9			511
Net cash used in financing activities	(109,903		)	(158,809		)	(105,315		)

Increase (decrease) in cash and cash equivalents	(151		)	(54		)	116
Cash and cash equivalents - beginning of year	157			211			95
Cash and cash equivalents - end of year	$	6		$	157		$	211

Partnership Organization And Formation (Details) (USD $)	12 Months Ended
	Jul. 31, 2014 employee	Jul. 31, 2013
Partnership formation date	Apr. 19, 1994
Limited partner interest	99.00%
General partner ownership interest	1.00%
Number Of Entity Subsidiaries	2
Equity interest in subsidiary	100.00%
Number of States in which Entity Operates	50
Number of employees	0
Ferrellgas Partners Finance Corp. [Member]
Common stock shares outstanding	1,000	1,000
Corporation formation date	Mar. 28, 1996
Corporation formation proceeds from partnership	$ 1,000
Corporation formation shares granted to partnership	1,000
Number of employees	0
Ferrellgas, L.P. [Member]
Partnership formation date	Apr. 22, 1994
Limited partner interest	99.00%
General partner ownership interest	1.00%
Equity interest in subsidiary	100.00%
Number of States in which Entity Operates	50
Number of employees	0
Ferrellgas Finance Corp. [Member]
Common stock shares outstanding	1,000	1,000
Corporation formation date	Jan. 16, 2003
Corporation formation proceeds from partnership	$ 1,000
Corporation formation shares granted to partnership	1,000
Number of employees	0
Ferrell Companies [Member]
Common stock shares outstanding	21,700,000
Operating Partnership [Member]
General partner ownership interest	1.00%
Ferrellgas [Member]
General partner ownership interest	2.00%
Midstream Operations [Member]
Number of salt water wells	8
Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Number of salt water wells	8

Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Jul. 31, 2014 subsidiary	Jul. 31, 2013	Jul. 31, 2012
General partner ownership interest	1.00%
Revenue recognized over a straight-line basis, term	1 year
Non-cash stock and unit-based compensation charge	$ 24,508	$ 13,545	$ 8,843
Number of taxable subsidiaries	1
Ferrellgas, L.P. [Member]
General partner ownership interest	1.00%
Revenue recognized over a straight-line basis, term	1 year
Non-cash stock and unit-based compensation charge	24,508	13,545	8,843
Minimum [Member]
Property, plant and equipment useful life	2 years
Intangible asset useful life	2 years
Minimum [Member] \| Ferrellgas, L.P. [Member]
Property, plant and equipment useful life	2 years
Intangible asset useful life	2 years
Maximum [Member]
Property, plant and equipment useful life	30 years
Intangible asset useful life	15 years
Maximum [Member] \| Ferrellgas, L.P. [Member]
Property, plant and equipment useful life	30 years
Intangible asset useful life	15 years
Ferrell Companies, Inc. Incentive Compensation Plan [Member]
Number of shares authorized to be issued as options	9,250,000
Non-cash stock and unit-based compensation charge	24,500	13,500	8,800
Stock options, percent to vest upon event	100.00%
Retirement age	65
Ferrell Companies, Inc. Incentive Compensation Plan [Member] \| Ferrellgas, L.P. [Member]
Number of shares authorized to be issued as options	9,250,000
Non-cash stock and unit-based compensation charge	$ 24,500	$ 13,500	$ 8,800
Stock options, percent to vest upon event	100.00%
Retirement age	65
Ferrell Companies, Inc. Incentive Compensation Plan [Member] \| Minimum [Member]
Award vesting period	0 years
Term till award expiration	10 years
Ferrell Companies, Inc. Incentive Compensation Plan [Member] \| Minimum [Member] \| Ferrellgas, L.P. [Member]
Award vesting period	0 years
Term till award expiration	10 years
Ferrell Companies, Inc. Incentive Compensation Plan [Member] \| Maximum [Member]
Award vesting period	12 years
Term till award expiration	15 years
Ferrell Companies, Inc. Incentive Compensation Plan [Member] \| Maximum [Member] \| Ferrellgas, L.P. [Member]
Award vesting period	12 years
Term till award expiration	15 years
Operating Partnership [Member]
General partner ownership interest	1.00%
Operating Partnership [Member] \| Ferrellgas, L.P. [Member]
Number of taxable subsidiaries	3

Summary Of Significant Accounting Policies (Significant Cash And Non-Cash Activities) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Cash Paid For [Abstract]
Interest Paid	$ 90,820	$ 84,030	$ 88,696
Income taxes	816	550	764
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	1,530		1,326
Liabilities incurred in connection with acquisitions	4,312	2,035	2,321
Change in accruals for property, plant and equipment additions	978	533	233
Ferrellgas, L.P. [Member]
Cash Paid For [Abstract]
Interest Paid	75,121	68,334	72,999
Income taxes	771	534	756
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	1,515		1,313
Liabilities incurred in connection with acquisitions	4,312	2,035	2,321
Change in accruals for property, plant and equipment additions	978	533	233
Common Unitholders [Member]
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	1,500	0	1,300
Common Unitholders [Member] \| Ferrellgas, L.P. [Member]
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	$ 1,500	$ 0	$ 1,300

Summary Of Significant Accounting Policies (Summary Of Income Tax Expense) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Current expense	$ 2,428,000	$ 1,722,000	$ 215,000
Deferred expense	88,000	133,000	913,000
Income tax expense	2,516,000	1,855,000	1,128,000
Ferrellgas, L.P. [Member]
Current expense	2,383,000	1,705,000	207,000
Deferred expense	88,000	133,000	913,000
Income tax expense	$ 2,471,000	$ 1,838,000	$ 1,120,000

Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.

+ References+ Details

Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Summary Of Significant Accounting Policies (Deferred Taxes Assets And Liabilities) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013
Deferred tax assets	$ 1,152,000	$ 1,367,000
Deferred tax liabilities	(4,313,000)	(4,602,000)
Net deferred tax liability	(3,161,000)	(3,235,000)
Ferrellgas, L.P. [Member]
Deferred tax assets	1,152,000	1,367,000
Deferred tax liabilities	(4,313,000)	(4,602,000)
Net deferred tax liability	$ (3,161,000)	$ (3,235,000)

Business Combinations (Narrative) (Details) (USD $)	12 Months Ended
Business Combinations (Narrative) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Proceeds from equity offering, net of issuance costs	$ 50,000,000	$ 0	$ 49,938,000
Ferrellgas, L.P. [Member]
Proceeds from equity offering, net of issuance costs	50,000,000
Propane and related equipment sales [Member]
Aggregate fair value of transactions	38,661,000	39,221,000	14,034,000
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Aggregate fair value of transactions	38,661,000	39,221,000	14,034,000
Midstream Operations [Member]
Aggregate fair value of transactions	130,340,000	0	0
Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Aggregate fair value of transactions	130,340,000	0	0
Minimum [Member]
Potential Undiscounted Contingent Consideration Payments	0
Minimum [Member] \| Ferrellgas, L.P. [Member]
Potential Undiscounted Contingent Consideration Payments	0
Maximum [Member]
Potential Undiscounted Contingent Consideration Payments	2,000,000
Maximum [Member] \| Ferrellgas, L.P. [Member]
Potential Undiscounted Contingent Consideration Payments	$ 2,000,000

Business Combinations (Schedule Of Funding Of Acquisitions) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Propane and related equipment sales [Member]
Cash payments	$ 34,219	$ 37,186	$ 10,387
Issuance of liabilities and other costs and considerations	2,942	2,035	2,347
Common units, net of issuance cost	1,500	0	1,300
Aggregate fair value of transactions	38,661	39,221	14,034
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Cash payments	34,234	37,186	10,400
Issuance of liabilities and other costs and considerations	2,927	2,035	2,334
Common units, net of issuance cost	1,500	0	1,300
Aggregate fair value of transactions	38,661	39,221	14,034
Midstream Operations [Member]
Cash payments	127,785	0	0
Issuance of liabilities and other costs and considerations	2,555	0	0
Common units, net of issuance cost	0	0	0
Aggregate fair value of transactions	130,340	0	0
Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Cash payments	127,785	0	0
Issuance of liabilities and other costs and considerations	2,555	0	0
Common units, net of issuance cost	0	0	0
Aggregate fair value of transactions	$ 130,340	$ 0	$ 0

Business Combinations (Aggregate Fair Value) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill acquisitions	$ 19,879	$ 4,640
Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill acquisitions	19,879	4,640
Propane and related equipment sales [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	(919)	7,302	0
Goodwill acquisitions	2,922	4,640	0
Trade names & trademarks	0	3,291	0
Aggregate fair value of transactions	38,661	39,221	14,034
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	(919)	7,302	0
Goodwill acquisitions	2,922	4,640	0
Trade names & trademarks	0	3,291	0
Aggregate fair value of transactions	38,661	39,221	14,034
Propane and related equipment sales [Member] \| Customer Lists [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	19,480	12,211	5,574
Propane and related equipment sales [Member] \| Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	19,480	12,211	5,574
Propane and related equipment sales [Member] \| Non-Compete Agreements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	2,659	944	1,006
Propane and related equipment sales [Member] \| Non-Compete Agreements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	2,659	944	1,006
Propane and related equipment sales [Member] \| Permits and favorable lease arrangements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	0	0
Propane and related equipment sales [Member] \| Permits and favorable lease arrangements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	0	0
Propane and related equipment sales [Member] \| Other Intangible Assets [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	5,678	0
Propane and related equipment sales [Member] \| Other Intangible Assets [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	5,678	0
Midstream Operations [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	490	0	0
Goodwill acquisitions	16,957	0	0
Trade names & trademarks	0	0	0
Aggregate fair value of transactions	130,340	0	0
Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	490	0	0
Goodwill acquisitions	16,957	0	0
Trade names & trademarks	0	0	0
Aggregate fair value of transactions	130,340	0	0
Midstream Operations [Member] \| Customer Lists [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	64,000	0	0
Midstream Operations [Member] \| Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	64,000	0	0
Midstream Operations [Member] \| Non-Compete Agreements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	13,300	0	0
Midstream Operations [Member] \| Non-Compete Agreements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	13,300	0	0
Midstream Operations [Member] \| Permits and favorable lease arrangements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	10,683	0	0
Midstream Operations [Member] \| Permits and favorable lease arrangements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	10,683	0	0
Midstream Operations [Member] \| Other Intangible Assets [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	0	0
Midstream Operations [Member] \| Other Intangible Assets [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	0	0
Customer tanks, buildings, land and other [Member] \| Propane and related equipment sales [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	14,519	5,155	7,454
Customer tanks, buildings, land and other [Member] \| Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	14,519	5,155	7,454
Customer tanks, buildings, land and other [Member] \| Midstream Operations [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	622	0	0
Customer tanks, buildings, land and other [Member] \| Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	622	0	0
Salt water disposal wells [Member] \| Propane and related equipment sales [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	0	0	0
Salt water disposal wells [Member] \| Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	0	0	0
Salt water disposal wells [Member] \| Midstream Operations [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	24,288	0	0
Salt water disposal wells [Member] \| Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	$ 24,288	$ 0	$ 0

Supplemental Financial Statement Information (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jul. 31, 2014 gal	Jul. 31, 2013	Jul. 31, 2012
Net procurement of fixed priced propane by Ferrellgas in gallons	18,300,000
Depreciation	$ 58.3	$ 59.3	$ 60.0
Ferrellgas, L.P. [Member]
Net procurement of fixed priced propane by Ferrellgas in gallons	18,300,000
Depreciation	$ 58.3	$ 59.3	$ 60.0
Maximum [Member]
Contract term duration	1 year
Supply procurement contract duration	36 months
Maximum [Member] \| Ferrellgas, L.P. [Member]
Contract term duration	1 year
Supply procurement contract duration	36 months

Supplemental Financial Statement Information (Schedule Of Inventories) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Propane gas and related products	$ 121,111	$ 94,946
Appliances, parts and supplies	24,858	22,170
Inventories	145,969	117,116
Ferrellgas, L.P. [Member]
Propane gas and related products	121,111	94,946
Appliances, parts and supplies	24,858	22,170
Inventories	$ 145,969	$ 117,116

Supplemental Financial Statement Information (Property, Plant And Equipment) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,238,618	$ 1,207,268
Less: accumulated depreciation	626,831	617,541
Property, plant and equipment, net	611,787	589,727
Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,238,618	1,207,268
Less: accumulated depreciation	626,831	617,541
Property, plant and equipment, net	611,787	589,727
Land [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Indefinite
Property, plant and equipment, gross	31,890	30,978
Land [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Indefinite
Property, plant and equipment, gross	31,890	30,978
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,812	12,021
Land Improvements [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12,812	12,021
Buildings And Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Property, plant and equipment, gross	68,492	67,050
Buildings And Improvements [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Property, plant and equipment, gross	68,492	67,050
Vehicles, Including Transport Trailers [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	95,701	101,224
Vehicles, Including Transport Trailers [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	95,701	101,224
Bulk Equipment And District Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	109,739	107,835
Bulk Equipment And District Facilities [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	109,739	107,835
Tanks, Cylinders And Customer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	772,402	767,365
Tanks, Cylinders And Customer Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	772,402	767,365
Salt water disposal wells [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,288	0
Salt water disposal wells [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,288	0
Computer And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	116,265	117,718
Computer And Office Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	116,265	117,718
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,029	3,077
Construction In Progress [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,029	$ 3,077
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Land Improvements [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Vehicles, Including Transport Trailers [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Minimum [Member] \| Vehicles, Including Transport Trailers [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Minimum [Member] \| Bulk Equipment And District Facilities [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Minimum [Member] \| Bulk Equipment And District Facilities [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Minimum [Member] \| Tanks, Cylinders And Customer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Tanks, Cylinders And Customer Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Salt water disposal wells [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Salt water disposal wells [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Computer And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Minimum [Member] \| Computer And Office Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Maximum [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Maximum [Member] \| Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Maximum [Member] \| Land Improvements [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Maximum [Member] \| Vehicles, Including Transport Trailers [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Maximum [Member] \| Vehicles, Including Transport Trailers [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Maximum [Member] \| Bulk Equipment And District Facilities [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Maximum [Member] \| Bulk Equipment And District Facilities [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Maximum [Member] \| Tanks, Cylinders And Customer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Maximum [Member] \| Tanks, Cylinders And Customer Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Maximum [Member] \| Salt water disposal wells [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	23 years
Maximum [Member] \| Salt water disposal wells [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	23 years
Maximum [Member] \| Computer And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Maximum [Member] \| Computer And Office Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Supplemental Financial Statement Information (Other Current Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Accrued interest	$ 12,182	$ 19,795
Accrued payroll	37,120	30,295
Customer deposits and advances	25,412	20,420
Other	50,447	50,592
Other current liabilities	125,161	121,102
Ferrellgas, L.P. [Member]
Accrued interest	10,176	17,787
Accrued payroll	37,120	30,295
Customer deposits and advances	25,412	20,420
Other	50,445	50,401
Other current liabilities	$ 123,153	$ 118,903

Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed.

+ References+ Details

Supplemental Financial Statement Information (Shipping And Handling Expenses) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	$ 212,635	$ 201,704	$ 197,289
Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	212,635	201,704	197,289
Operating Expense [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	190,999	181,932	177,903
Operating Expense [Member] \| Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	190,999	181,932	177,903
Depreciation And Amortization Expense [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	5,829	5,744	6,545
Depreciation And Amortization Expense [Member] \| Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	5,829	5,744	6,545
Equipment Lease Expense [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	15,807	14,028	12,841
Equipment Lease Expense [Member] \| Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	$ 15,807	$ 14,028	$ 12,841

Cost incurred during the reporting period in transporting goods and services to customers. Includes freight-out costs.

+ References+ Details

Accounts And Notes Receivable, Net And Accounts Receivable Securitization (Narrative) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable pledged as collateral	$ 159,003,000	$ 130,025,000
Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable pledged as collateral	159,003,000	130,025,000
Accounts Receivable Securitization [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable securitization program, maximum capacity	225,000,000
Accounts receivable securitization program, maturity date	Jan. 19, 2017
Accounts receivable pledged as collateral	159,000,000	130,000,000
Available proceeds from additional trade accounts receivable	0	0
Weighted average discount rate to value the retained interest in the transferred receivables	2.10%	2.40%
Note payable	91,000,000	82,000,000
Proceeds from Accounts Receivable Securitization	91,000,000	82,000,000
Accounts Receivable Securitization [Member] \| Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable securitization program, maximum capacity	225,000,000.0
Accounts receivable securitization program, maturity date	Jan. 19, 2017
Accounts receivable pledged as collateral	159,000,000	130,000,000
Available proceeds from additional trade accounts receivable	0	0
Weighted average discount rate to value the retained interest in the transferred receivables	2.10%	2.40%
Note payable	91,000,000	82,000,000
Proceeds from Accounts Receivable Securitization	91,000,000	82,000,000
Maximum [Member] \| Accounts Receivable Securitization [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in interest rate from previous facility	1.45%
Maximum [Member] \| Accounts Receivable Securitization [Member] \| Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in interest rate from previous facility	1.45%
Minimum [Member] \| Accounts Receivable Securitization [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in interest rate from previous facility	1.20%
Minimum [Member] \| Accounts Receivable Securitization [Member] \| Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in interest rate from previous facility	1.20%
January, February, March, And December [Member] \| Maximum [Member] \| Accounts Receivable Securitization [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization	225,000,000
January, February, March, And December [Member] \| Maximum [Member] \| Accounts Receivable Securitization [Member] \| Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization	225,000,000.0
April And May [Member] \| Maximum [Member] \| Accounts Receivable Securitization [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization	175,000,000
April And May [Member] \| Maximum [Member] \| Accounts Receivable Securitization [Member] \| Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization	175,000,000.0
All Other Months [Member] \| Maximum [Member] \| Accounts Receivable Securitization [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization	145,000,000
All Other Months [Member] \| Maximum [Member] \| Accounts Receivable Securitization [Member] \| Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Accounts Receivable Securitization	$ 145,000,000.0

Accounts And Notes Receivable, Net And Accounts Receivable Securitization (Accounts And Notes Receivable) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013
Accounts receivable pledged as collateral	$ 159,003,000	$ 130,025,000
Accounts receivable	24,108,000	4,867,000
Other	247,000	506,000
Less: Allowance for doubtful accounts	(4,756,000)	(3,607,000)
Accounts and notes receivable, net	178,602,000	131,791,000
Ferrellgas, L.P. [Member]
Accounts receivable pledged as collateral	159,003,000	130,025,000
Accounts receivable	24,108,000	4,867,000
Other	247,000	506,000
Less: Allowance for doubtful accounts	(4,756,000)	(3,607,000)
Accounts and notes receivable, net	$ 178,602,000	$ 131,791,000

Goodwill And Intangible Assets, Net (Narrative) (Details)	12 Months Ended
	Jul. 31, 2014
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	15 years
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	11 years
Customer Lists [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	12 years
Customer Lists [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	15 years
Permits and favorable lease arrangements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	15 years
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	7 years
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	6 years
Non Compete Agreements And Other Intangible Assets [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	2 years
Non Compete Agreements And Other Intangible Assets [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	10 years
Ferrellgas, L.P. [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	2 years
Ferrellgas, L.P. [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	15 years
Ferrellgas, L.P. [Member] \| Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	15 years
Intangible asset, weighted average useful life	11 years
Ferrellgas, L.P. [Member] \| Permits and favorable lease arrangements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	15 years
Ferrellgas, L.P. [Member] \| Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	7 years
Ferrellgas, L.P. [Member] \| Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	6 years
Ferrellgas, L.P. [Member] \| Non Compete Agreements And Other Intangible Assets [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	2 years
Ferrellgas, L.P. [Member] \| Non Compete Agreements And Other Intangible Assets [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	10 years

Goodwill And Intangible Assets, Net (Goodwill And Intangible Assets, Net) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Goodwill, gross carrying amount	$ 273,210	$ 253,362
Goodwill, net	273,210	253,362	248,944
Amortizable intangible assets, gross carrying amount	583,893	473,766
Amortizable intangible assets, accumulated amortization	(370,108)	(346,618)
Amortizable intangible assets, net	213,785	127,148
Intangible assets gross excluding goodwill	646,279	536,134
Intangible assets amortization and impairment net excluding goodwill	(370,108)	(346,618)
Intangible assets net excluding goodwill	276,171	189,516
Ferrellgas, L.P. [Member]
Goodwill, gross carrying amount	273,210	253,362
Goodwill, net	273,210	253,362	248,944
Amortizable intangible assets, gross carrying amount	583,893	473,766
Amortizable intangible assets, accumulated amortization	(370,108)	(346,618)
Amortizable intangible assets, net	213,785	127,148
Intangible assets gross excluding goodwill	646,279	536,134
Intangible assets amortization and impairment net excluding goodwill	(370,108)	(346,618)
Intangible assets net excluding goodwill	276,171	189,516
Trade Names And Trademarks [Member]
Indefinite-lived intangible assets (excluding goodwill)	62,386	62,368
Trade Names And Trademarks [Member] \| Ferrellgas, L.P. [Member]
Indefinite-lived intangible assets (excluding goodwill)	62,386	62,368
Customer Lists [Member]
Amortizable intangible assets, gross carrying amount	500,100	416,620
Amortizable intangible assets, accumulated amortization	(322,277)	(302,179)
Amortizable intangible assets, net	177,823	114,441
Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	500,100	416,620
Amortizable intangible assets, accumulated amortization	(322,277)	(302,179)
Amortizable intangible assets, net	177,823	114,441
Non-Compete Agreements [Member]
Amortizable intangible assets, gross carrying amount	63,933	47,974
Amortizable intangible assets, accumulated amortization	(43,120)	(40,994)
Amortizable intangible assets, net	20,813	6,980
Non-Compete Agreements [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	63,933	47,974
Amortizable intangible assets, accumulated amortization	(43,120)	(40,994)
Amortizable intangible assets, net	20,813	6,980
Permits and favorable lease arrangements [Member]
Amortizable intangible assets, gross carrying amount	10,683	0
Amortizable intangible assets, accumulated amortization	(119)	0
Amortizable intangible assets, net	10,564	0
Permits and favorable lease arrangements [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	10,683	0
Amortizable intangible assets, accumulated amortization	(119)	0
Amortizable intangible assets, net	10,564	0
Other Intangible Assets [Member]
Amortizable intangible assets, gross carrying amount	9,177	9,172
Amortizable intangible assets, accumulated amortization	(4,592)	(3,445)
Amortizable intangible assets, net	4,585	5,727
Other Intangible Assets [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	9,177	9,172
Amortizable intangible assets, accumulated amortization	(4,592)	(3,445)
Amortizable intangible assets, net	$ 4,585	$ 5,727

Goodwill And Intangible Assets, Net Goodwill And Intangible Assets, Net (Goodwill Rollforward) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 253,362	$ 248,944
Goodwill acquisitions	19,879	4,640
Other	(31)	(222)
Goodwill, ending balance	273,210	253,362
Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	253,362	248,944
Goodwill acquisitions	19,879	4,640
Other	(31)	(222)
Goodwill, ending balance	273,210	253,362
Propane and related equipment sales [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	253,362	248,944
Goodwill acquisitions	2,922	4,640	0
Other	(31)	(222)
Goodwill, ending balance	256,253	253,362	248,944
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	253,362	248,944
Goodwill acquisitions	2,922	4,640	0
Other	(31)	(222)
Goodwill, ending balance	256,253	253,362	248,944
Midstream Operations [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	0	0
Goodwill acquisitions	16,957	0	0
Other	0	0
Goodwill, ending balance	16,957	0	0
Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	0	0
Goodwill acquisitions	16,957	0	0
Other	0	0
Goodwill, ending balance	$ 16,957	$ 0	$ 0

Goodwill And Intangible Assets, Net (Estimated Amortization Expense) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014
2015	$ 27,950
2016	26,164
2017	25,589
2018	23,034
2019	17,247
Ferrellgas, L.P. [Member]
2015	27,950
2016	26,164
2017	25,589
2018	23,034
2019	$ 17,247

Debt (Senior Notes Narrative) (Details) (USD $)	12 Months Ended
Debt (Senior Notes Narrative) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Interest Paid	$ 90,820,000	$ 84,030,000	$ 88,696,000
Ferrellgas, L.P. [Member]
Interest Paid	75,121,000	68,334,000	72,999,000
Fixed Rate Six Point Seven Five Due Two Thousand twenty Two [Domain]
Senior note, issuance date	Nov. 04, 2013
Debt instrument, face amount	325,000,000
Interest rate	6.75%
Proceeds from issuance of unsecured debt	319,300,000
Debt Instrument, Maturity Date	Nov. 01, 2022
Debt issued premium, percent of par	104.00%
Fixed Rate Six Point Seven Five Due Two Thousand twenty Two [Domain] \| Ferrellgas, L.P. [Member]
Senior note, issuance date	Nov. 04, 2013
Debt instrument, face amount	325,000,000
Interest rate	6.75%
Proceeds from issuance of unsecured debt	319,300,000
Debt Instrument, Maturity Date	Nov. 01, 2022
Debt issued premium, percent of par	104.00%
Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Senior note, issuance date	Nov. 06, 2010
Debt instrument, face amount	500,000,000.0
Interest rate	6.50%
Debt Instrument, Frequency of Periodic Payment	semi-annually
Debt Instrument, Maturity Date	May 01, 2021
Debt instrument prepayment penalty prior to date	2019
Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member] \| Ferrellgas, L.P. [Member]
Senior note, issuance date	Nov. 06, 2010
Debt instrument, face amount	500,000,000.0
Interest rate	6.50%
Debt Instrument, Frequency of Periodic Payment	semi-annually
Debt Instrument, Maturity Date	May 01, 2021
Debt instrument prepayment penalty prior to date	2019
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Senior note, issuance date	Jun. 06, 2014
Debt instrument, face amount	150,000,000
Interest rate	9.125%
Debt Instrument, Maturity Date	Oct. 01, 2017
Write-offs of unamortized discount on debt	6,000,000
Debt Instrument, Repurchased Face Amount	300,000,000
Payments of Debt Extinguishment Costs	14,700,000
Interest Paid	3,300,000
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member] \| Ferrellgas, L.P. [Member]
Senior note, issuance date	Jun. 06, 2014
Debt instrument, face amount	150,000,000
Interest rate	9.125%
Debt Instrument, Maturity Date	Oct. 01, 2017
Write-offs of unamortized discount on debt	6,000,000
Debt Instrument, Repurchased Face Amount	300,000,000
Payments of Debt Extinguishment Costs	14,700,000
Interest Paid	3,300,000
Fixed Rate Eight Point Six Two Five Due Two Thousand Twenty [Member]
Senior note, issuance date	Apr. 13, 2010
Debt instrument, face amount	280,000,000.0
Debt Instrument, Principal Amount Redeemed	$ 98,000,000
Debt Instrument, Frequency of Periodic Payment	semi-annually
Debt instrument prepayment penalty prior to date	2018

Debt (Secured Credit Facility Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended								12 Months Ended			12 Months Ended							12 Months Ended																				12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2014 Ferrellgas, L.P. [Member]	Jul. 31, 2013 Ferrellgas, L.P. [Member]	Jul. 31, 2012 Ferrellgas, L.P. [Member]	Jul. 31, 2014 Letter Of Credit [Member]	Jul. 31, 2014 Letter Of Credit [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Secured Credit Facility [Member]	Jul. 31, 2013 Secured Credit Facility [Member]	Jan. 31, 2014 Secured Credit Facility [Member]	Jul. 31, 2014 Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jan. 31, 2014 Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Federal Funds Rate [Member]	Jul. 31, 2013 Federal Funds Rate [Member]	Jul. 31, 2014 Federal Funds Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Federal Funds Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Federal Funds Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Federal Funds Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Eurodollar Rate Loan [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Eurodollar Rate Loan [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2013 Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Bank Of America's Prime Rate [Member]	Jul. 31, 2013 Bank Of America's Prime Rate [Member]	Jul. 31, 2014 Bank Of America's Prime Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Bank Of America's Prime Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 One Month Eurodollar Rate [Member]	Jul. 31, 2013 One Month Eurodollar Rate [Member]	Jul. 31, 2014 One Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 One Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Three-Month Eurodollar Rate [Member]	Jul. 31, 2013 Three-Month Eurodollar Rate [Member]	Jul. 31, 2014 Three-Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Three-Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Minimum [Member]	Jul. 31, 2014 Minimum [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Minimum [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Minimum [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Minimum [Member] Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Minimum [Member] Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Maximum [Member]	Jul. 31, 2014 Maximum [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Maximum [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Maximum [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Maximum [Member] Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Maximum [Member] Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date									Oct. 01, 2018			Oct. 01, 2018
Secured line of credit facility							$ 200.0	$ 200.0	$ 600.0	$ 400.0	$ 500.0	$ 600.0	$ 400.0	$ 500.0
Debt Instrument, Interest Rate, Increase (Decrease)									0.25%			0.25%
Write off of Deferred Debt Issuance Cost									0.3			0.3
Credit facility interest rate															0.09%	0.09%	0.09%	0.09%									3.25%	3.25%	3.25%	3.25%	0.17%	0.22%	0.17%	0.22%	0.24%	0.28%	0.24%	0.28%
Total borrowings outstanding, line of credit facility									193.3	171.4		193.3	171.4
Amount classified as long-term debt									123.8	121.3		123.8	121.3
Weighted average interest rate of debt									3.40%	3.70%		3.40%	3.70%
Debt instrument, basis spread rate									1.25%	1.75%		1.25%	1.75%						0.50%	0.50%	1.00%	1.00%	2.25%	2.75%	2.25%	2.75%															0.75%	0.75%	1.75%	1.75%			1.75%	1.75%	2.75%	2.75%
Commitment fee payable rate																																							0.35%	0.35%					0.50%	0.50%
Letters of credit outstanding	56.3	53.9		56.3	53.9
Letter of credit facility, remaining capacity	143.7	146.1		143.7	146.1
Line of credit facility, commitment fee	$ 1.2	$ 0.9	$ 0.9	$ 1.2	$ 0.9	$ 0.9

Debt (Interest Rate Swaps Narrative) (Details) (USD $)	12 Months Ended
Debt (Interest Rate Swaps Narrative) (Details) (USD $)	Jul. 31, 2014
Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Interest rate derivative inception date	May 2012
Derivative, Description of Hedged Item	forecasted interest payments on Ferrellgas’ secured credit facility and collateralized note payable borrowings
Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Debt Instrument [Line Items]
Derivative, Description of Hedged Item	$500.0 million 6.5% fixed rate senior notes due 2021
Derivative, Notional Amount	$ 140,000,000.0
Derivative, Fixed Interest Rate	6.50%
Interest rate plus one-month LIBOR	4.715%
Derivative, Inception Date	May 07, 2012
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Debt Instrument [Line Items]
Derivative, Description of Hedged Item	$300.0 million 9.125% fixed rate senior notes due 2017
Derivative, Notional Amount	140,000,000.0
Derivative, Fixed Interest Rate	9.125%
Interest rate plus one-month LIBOR	7.96%
Derivative, Cost of Hedge	200,000
Derivative, Inception Date	May 07, 2012
Interest Rate Cash Flow Hedge Leg1 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	175,000,000.0
Derivative, Fixed Interest Rate	1.95%
Interest rate derivative settlement start date	August 2015
Interest rate derivative settlement end date	July 2017
Interest Rate Cash Flow Hedge Leg2 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	100,000,000.0
Derivative, Fixed Interest Rate	1.95%
Interest rate derivative settlement start date	August 2017
Interest rate derivative settlement end date	July 2018
Ferrellgas, L.P. [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Interest rate derivative inception date	May 2012
Derivative, Description of Hedged Item	forecasted interest payments on Ferrellgas, L.P.’s secured credit facility and collateralized note payable
Ferrellgas, L.P. [Member] \| Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Debt Instrument [Line Items]
Derivative, Description of Hedged Item	$500.0 million 6.5% fixed rate senior notes due 2021
Derivative, Notional Amount	140,000,000.0
Derivative, Fixed Interest Rate	6.50%
Interest rate plus one-month LIBOR	4.715%
Derivative, Inception Date	May 07, 2012
Ferrellgas, L.P. [Member] \| Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Debt Instrument [Line Items]
Derivative, Description of Hedged Item	$300.0 million 9.125% fixed rate senior notes due 2017
Derivative, Notional Amount	140,000,000.0
Derivative, Fixed Interest Rate	9.125%
Interest rate plus one-month LIBOR	7.96%
Derivative, Cost of Hedge	200,000
Derivative, Inception Date	May 07, 2012
Ferrellgas, L.P. [Member] \| Interest Rate Cash Flow Hedge Leg1 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	175,000,000.0
Derivative, Fixed Interest Rate	1.95%
Interest rate derivative settlement start date	August 2015
Interest rate derivative settlement end date	July 2017
Ferrellgas, L.P. [Member] \| Interest Rate Cash Flow Hedge Leg2 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Notional Amount	$ 100,000,000.0
Derivative, Fixed Interest Rate	1.95%
Interest rate derivative settlement start date	August 2017
Interest rate derivative settlement end date	July 2018
One Month Eurodollar Rate [Member] \| Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Interest Rate Cash Flow Hedge Leg1 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Interest Rate Cash Flow Hedge Leg2 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Ferrellgas, L.P. [Member] \| Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Ferrellgas, L.P. [Member] \| Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Ferrellgas, L.P. [Member] \| Interest Rate Cash Flow Hedge Leg1 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
One Month Eurodollar Rate [Member] \| Ferrellgas, L.P. [Member] \| Interest Rate Cash Flow Hedge Leg2 [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR

Debt (Components Of Long-Term Debt) (Details) (USD $)	12 Months Ended
Debt (Components Of Long-Term Debt) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Schedule of Capitalization, Long-term Debt [Line Items]
Total long-term debt	$ 1,295,837,000	$ 1,110,031,000
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,623,000	3,091,000
Long-term debt	1,292,214,000	1,106,940,000
Short-term borrowings	69,519,000	50,054,000
Interest Paid	90,820,000	84,030,000	88,696,000
Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Total long-term debt	1,113,837,000	928,031,000
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,623,000	3,091,000
Long-term debt	1,110,214,000	924,940,000
Short-term borrowings	69,519,000	50,054,000
Interest Paid	75,121,000	68,334,000	72,999,000
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	0	297,444,000
Debt instrument, fixed interest rate	9.125%
Debt instrument, maturity year	2017
Unamortized discount	0	2,556,000
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	0	297,444,000
Debt instrument, fixed interest rate	9.125%
Debt instrument, maturity year	2017
Unamortized discount	0	2,556,000
Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	500,000,000	500,000,000
Debt instrument, fixed interest rate	6.50%
Debt instrument, maturity year	2021
Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	500,000,000	500,000,000
Debt instrument, fixed interest rate	6.50%
Debt instrument, maturity year	2021
Fixed Rate Six Point Seven Five Due Two Thousand twenty Two [Domain]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	480,863,000	0
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Nov. 01, 2022
Debt Instrument, Unamortized Premium	5,863,000	0
Fixed Rate Six Point Seven Five Due Two Thousand twenty Two [Domain] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	480,863,000	0
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Nov. 01, 2022
Debt Instrument, Unamortized Premium	5,863,000	0
Fixed Rate Eight Point Six Two Five Due Two Thousand Twenty [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	182,000,000	182,000,000
Debt instrument, fixed interest rate	8.625%
Debt instrument, maturity year	2020
Interest Rate Swap [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	(2,534,000)	(1,657,000)
Interest Rate Swap [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	(2,534,000)	(1,657,000)
Secured Credit Facility [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Line of credit facility	123,781,000	121,346,000
Debt Instrument, Maturity Date	Oct. 01, 2018
Debt instrument, maturity year	2018
Short-term borrowings	69,519,000	50,054,000
Weighted average interest rate of debt	3.40%	3.70%
Write off of Deferred Debt Issuance Cost	300,000
Secured Credit Facility [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Line of credit facility	123,781,000	121,346,000
Debt Instrument, Maturity Date	Oct. 01, 2018
Debt instrument, maturity year	2018
Short-term borrowings	69,519,000	50,054,000
Weighted average interest rate of debt	3.40%	3.70%
Write off of Deferred Debt Issuance Cost	300,000
Notes Payable [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Notes payable	11,727,000	10,898,000
Unamortized discount	2,239,000	2,392,000
Weighted average interest rate of debt	8.80%	9.10%
Long-term debt, Notes payable due start	2014
Long-term debt, Notes payable due end	2022
Notes Payable [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Notes payable	11,727,000	10,898,000
Unamortized discount	$ 2,239,000	$ 2,392,000
Weighted average interest rate of debt	8.80%	9.10%
Long-term debt, Notes payable due start	2014
Long-term debt, Notes payable due end	2022

Debt (Scheduled Annual Principal Payments On Long-term Debt) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014
2015	$ 3,623
2016	3,523
2017	3,186
2018	1,704
2019	124,855
Thereafter	1,157,856
Total long-term debt	1,294,747
Ferrellgas, L.P. [Member]
2015	3,623
2016	3,523
2017	3,186
2018	1,704
2019	124,855
Thereafter	975,856
Total long-term debt	$ 1,112,747

Partners' Capital (Narrative) (Details) (USD $)	12 Months Ended										12 Months Ended									0 Months Ended
Partners' Capital (Narrative) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2014 Ferrellgas, L.P. [Member]	Jul. 31, 2014 Ferrell Companies [Member]	Jul. 31, 2012 Ferrell Companies [Member]	Jul. 31, 2014 FCI Trading Corp. [Member]	Jul. 31, 2013 FCI Trading Corp. [Member]	Jul. 31, 2014 Ferrell Propane, Inc. [Member]	Jul. 31, 2013 Ferrell Propane, Inc. [Member]	Jul. 31, 2014 Ferrell Companies Beneficial Ownership [Member]	Jul. 31, 2014 Ferrellgas Partners [Member]	Jul. 31, 2014 Ferrellgas Partners [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Ferrellgas Partners [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 General Partner [Member]	Jul. 31, 2013 General Partner [Member]	Jul. 31, 2014 General Partner [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 General Partner [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2012 Investor [Member]	Sep. 12, 2014 Subsequent Event [Member]	Aug. 21, 2014 Subsequent Event [Member]	Sep. 12, 2014 Subsequent Event [Member] Ferrellgas, L.P. [Member]	Aug. 21, 2014 Subsequent Event [Member] Ferrellgas, L.P. [Member]	Sep. 12, 2014 Subsequent Event [Member] Ferrell Companies [Member]	Sep. 12, 2014 Subsequent Event [Member] FCI Trading Corp. [Member]	Sep. 12, 2014 Subsequent Event [Member] Ferrell Propane, Inc. [Member]	Sep. 12, 2014 Subsequent Event [Member] Ferrellgas Partners [Member] Ferrellgas, L.P. [Member]	Sep. 12, 2014 Subsequent Event [Member] General Partner [Member]	Sep. 12, 2014 Subsequent Event [Member] General Partner [Member] Ferrellgas, L.P. [Member]
Capital Unit [Line Items]
Limited partner ownership interest					26.40%						26.70%	98.00%
Common unitholders, units outstanding	81,228,237	79,072,819					195,686	195,686	51,204	51,204
General partner ownership interest	1.00%			1.00%											2.00%		1.0101%
Minimum percentage ownership of outstanding common units resulting in non voting of owners	20.00%
Cash distribution declared date																					Aug. 21, 2014		Aug. 21, 2014
Distribution Made to Limited Partner, Cash Distributions Declared																								$ 11,265,000	$ 98,000	$ 26,000	$ 41,800,000	$ 418,000	$ 400,000
Cash distributions declared per common unit																					$ 0.50
Cash distributions, payment date																				Sep. 12, 2014		Sep. 12, 2014
Stock Issued During Period, Shares, Treasury Stock Reissued	2,000,000
Stock Issued During Period, Value, Other	50,000,000
Offering of common units, shares						1,400,000													1,500,000	1,500,000		1,500,000
Proceeds from offering of common units						25,000,000													25,000,000
Stock issued during the period for acquisition, shares	100,000
Stock issued during the period for acquisition, value	1,500,000
Cash received from contributions	511,000	9,000	511,000										51,100,000	800,000	1,100,000	18,000	500,000	9,000
Non-cash contributions														$ 1,500,000	$ 900,000	$ 600,000	$ 500,000	$ 300,000

Partners' Capital (Ferrellgas Paid Cash Distributions) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Limited Partners' Capital Account [Line Items]
Distributions	$ 160,925	$ 159,682	$ 156,520
Public Common Unitholders [Member]
Limited Partners' Capital Account [Line Items]
Distributions	107,164	105,934	104,192
Ferrell Companies [Member]
Limited Partners' Capital Account [Line Items]
Distributions	42,939	42,939	41,550
FCI Trading Corp. [Member]
Limited Partners' Capital Account [Line Items]
Distributions	392	392	392
Ferrell Propane, Inc. [Member]
Limited Partners' Capital Account [Line Items]
Distributions	104	104	104
James E. Ferrell [Member]
Limited Partners' Capital Account [Line Items]
Distributions	8,717	8,717	8,717
General Partner [Member]
Limited Partners' Capital Account [Line Items]
Distributions	1,609	1,596	1,565
General Partner [Member] \| Ferrellgas, L.P. [Member]
Limited Partners' Capital Account [Line Items]
Distributions	1,803	1,790	1,757
Ferrellgas Partners [Member] \| Ferrellgas, L.P. [Member]
Limited Partners' Capital Account [Line Items]
Distributions	$ 176,623	$ 175,380	$ 172,218

Partners' Capital (Dividends Expected To Be Paid To Related Parties) (Details) (Subsequent Event [Member], USD $) In Thousands, unless otherwise specified	0 Months Ended
	Sep. 12, 2014
Ferrell Companies [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 11,265
FCI Trading Corp. [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	98
Ferrell Propane, Inc. [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	26
James E. Ferrell [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	2,179
General Partner [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 418

Fair Value Measurements (Assets And Liabilities Fair Value Hierarchy) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013
Interest rate swap assets	$ 2,101,000	$ 3,783,000
Commodity derivatives propane swap assets	7,006,000	2,532,000
Interest rate swap liabilities	(5,075,000)	(4,998,000)
Commodity derivatives propane swap liabilities	(83,000)	(907,000)
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(6,400,000)	0
Ferrellgas, L.P. [Member]
Interest rate swap assets	2,101,000	3,783,000
Commodity derivatives propane swap assets	7,006,000	2,532,000
Interest rate swap liabilities	(5,075,000)	(4,998,000)
Commodity derivatives propane swap liabilities	(83,000)	(907,000)
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(6,400,000)	0
Level 2 [Member]
Interest rate swap assets	2,101,000	3,783,000
Commodity derivatives propane swap assets	7,006,000	2,532,000
Interest rate swap liabilities	(5,075,000)	(4,998,000)
Commodity derivatives propane swap liabilities	(83,000)	(907,000)
Level 2 [Member] \| Ferrellgas, L.P. [Member]
Interest rate swap assets	2,101,000	3,783,000
Commodity derivatives propane swap assets	7,006,000	2,532,000
Interest rate swap liabilities	(5,075,000)	(4,998,000)
Commodity derivatives propane swap liabilities	(83,000)	(907,000)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(6,400,000)
Fair Value, Inputs, Level 3 [Member] \| Ferrellgas, L.P. [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ (6,400,000)

Fair Value Measurements Fair Value Measurements (Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	1,400,000
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	6,400,000
Ferrellgas, L.P. [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	1,400,000
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	6,400,000
Accretion [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	110,000
Accretion [Member] \| Ferrellgas, L.P. [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	110,000
Fair Value Change due to Unobservable Inputs [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	4,890,000
Fair Value Change due to Unobservable Inputs [Member] \| Ferrellgas, L.P. [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	$ 4,890,000

Fair Value Measurements Fair Value Measurements (Fair Value Inputs, Liabilities, Quantitative Information) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Business Combination, Contingent Consideration, Liability	$ 6,400,000	$ 0
Fair Value Measurements, Valuation Techniques	Discounted cash flow
Weighted Average of Unobservable Input	20.00%
Minimum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	10.00%
Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	70.00%
Ferrellgas, L.P. [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Business Combination, Contingent Consideration, Liability	$ 6,400,000	$ 0
Fair Value Measurements, Valuation Techniques	Discounted cash flow
Ferrellgas, L.P. [Member] \| Minimum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	10.00%
Ferrellgas, L.P. [Member] \| Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	70.00%

Fair Value Measurements Fair Value Measurements (Sensitivity of Unobservable Inputs) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014
5% increase, WACC [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	$ (470)
5% decrease, WACC [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	400
10% increase, earnings forecast [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	840
10% decrease, earnings forecast [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	(1,010)
Ferrellgas, L.P. [Member] \| 5% increase, WACC [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	(470)
Ferrellgas, L.P. [Member] \| 5% decrease, WACC [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	400
Ferrellgas, L.P. [Member] \| 10% increase, earnings forecast [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	840
Ferrellgas, L.P. [Member] \| 10% decrease, earnings forecast [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	$ (1,010)

Derivative Instruments and Hedging Activities (Narrative) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014 MMBbls	Jul. 31, 2013
Derivative [Line Items]
gain or loss in earnings related to hedge ineffectiveness	$ 0	$ 0
Reclassification of net gain to earnings during next 12 months	5,200,000
Reclassification of gain (loss) to earnings from discontinuance of cash flow hedges	0	0
Number of barrels of propane covered by cash flow hedges	1,400,000
Derivative amount of credit risk	6,600,000
Derivative, Net Liability Position, Aggregate Fair Value	0
Collateral Already Posted, Aggregate Fair Value	0
Additional Collateral, Aggregate Fair Value	0
Ferrellgas, L.P. [Member]
Derivative [Line Items]
gain or loss in earnings related to hedge ineffectiveness	0	0
Reclassification of net gain to earnings during next 12 months	5,200,000
Reclassification of gain (loss) to earnings from discontinuance of cash flow hedges	0	0
Number of barrels of propane covered by cash flow hedges	1,400,000
Derivative amount of credit risk	6,600,000
Derivative, Net Liability Position, Aggregate Fair Value	0
Collateral Already Posted, Aggregate Fair Value	0
Additional Collateral, Aggregate Fair Value	$ 0

Derivative Instruments and Hedging Activities (Fair Value of Financial Derivatives Balance Sheet Locations) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014	Jul. 31, 2013
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	$ 7,006	$ 2,532
Interest Rate Derivative Assets, at Fair Value	2,101	3,783
Derivative Asset, Fair Value, Gross Asset	9,107	6,315
Derivatives - Price risk management liabilities	83	907
Interest Rate Derivative Liabilities, at Fair Value	5,075	4,998
Derivative Liability, Fair Value, Gross Liability	5,158	5,905
Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	7,006	2,532
Interest Rate Derivative Assets, at Fair Value	2,101	3,783
Derivative Asset, Fair Value, Gross Asset	9,107	6,315
Derivatives - Price risk management liabilities	83	907
Interest Rate Derivative Liabilities, at Fair Value	5,075	4,998
Derivative Liability, Fair Value, Gross Liability	5,158	5,905
Prepaid Expenses And Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	5,301	1,400
Interest Rate Derivative Assets, at Fair Value	2,101	3,341
Prepaid Expenses And Other Current Assets [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	5,301	1,400
Interest Rate Derivative Assets, at Fair Value	2,101	3,341
Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	83	569
Interest Rate Derivative Liabilities, at Fair Value	0	0
Other Current Liabilities [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	83	569
Interest Rate Derivative Liabilities, at Fair Value	0	0
Other Assets, Net [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	1,705	1,132
Interest Rate Derivative Assets, at Fair Value	0	442
Other Assets, Net [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	1,705	1,132
Interest Rate Derivative Assets, at Fair Value	0	442
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	0	338
Interest Rate Derivative Liabilities, at Fair Value	5,075	4,998
Other Liabilities [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	0	338
Interest Rate Derivative Liabilities, at Fair Value	$ 5,075	$ 4,998

Derivative Instruments and Hedging Activities (Fair Value Hedge Derivative Effect on Earnings) (Details) (Interest Rate Swap [Member], USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013
Derivative, Gain (Loss) on Derivative, Net	$ 2,520	$ 3,205
Interest Expense, Debt	(11,985)	(21,875)
Ferrellgas, L.P. [Member]
Derivative, Gain (Loss) on Derivative, Net	2,520	3,205
Interest Expense, Debt	$ (11,985)	$ (21,875)

Derivative Instruments and Hedging Activities (Cash Flow Hedge Derivative Effect on Comprehensive Income) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Derivative [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	$ 14,592	$ 4,252
Amount of gain (loss) reclassified from AOCI into income	10,175	(10,613)
Derivative [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	14,592	4,252
Amount of gain (loss) reclassified from AOCI into income	10,175	(10,613)
Commodity Derivatives Propane [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	15,473	2,032	(23,290)
Amount of gain (loss) reclassified from AOCI into income	10,175	(10,613)	(7,108)
Commodity Derivatives Propane [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	15,473	2,032	(23,290)
Amount of gain (loss) reclassified from AOCI into income	10,175	(10,613)	(7,108)
Interest Rate Swap [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(881)	2,220	(1,778)
Interest Rate Swap [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(881)	2,220	(1,778)
Cost of Sales [Member] \| Commodity Derivatives Propane [Member]
Amount of gain (loss) reclassified from AOCI into income	10,175	(10,613)
Cost of Sales [Member] \| Commodity Derivatives Propane [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) reclassified from AOCI into income	10,175	(10,613)
Interest Expense [Member] \| Interest Rate Swap [Member]
Amount of gain (loss) reclassified from AOCI into income	0	0
Interest Expense [Member] \| Interest Rate Swap [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) reclassified from AOCI into income	$ 0	$ 0

Derivative Instruments and Hedging Activities (Changes in Derivative Value Effect on Other Comprehensive Income Loss) (Details) (USD $) In Thousands, unless otherwise specified					12 Months Ended															12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2014 Ferrellgas, L.P. [Member]	Jul. 31, 2013 Ferrellgas, L.P. [Member]	Jul. 31, 2014 Commodity Derivatives Propane [Member]	Jul. 31, 2013 Commodity Derivatives Propane [Member]	Jul. 31, 2012 Commodity Derivatives Propane [Member]	Jul. 31, 2014 Commodity Derivatives Propane [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Commodity Derivatives Propane [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2012 Commodity Derivatives Propane [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Interest Rate Swap [Member]	Jul. 31, 2013 Interest Rate Swap [Member]	Jul. 31, 2012 Interest Rate Swap [Member]	Jul. 31, 2014 Interest Rate Swap [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Interest Rate Swap [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2012 Interest Rate Swap [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Derivative [Member]	Jul. 31, 2013 Derivative [Member]	Jul. 31, 2011 Derivative [Member]	Jul. 31, 2014 Derivative [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2013 Derivative [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2011 Derivative [Member] Ferrellgas, L.P. [Member]
Beginning balance	$ 6,181	$ 1,697	$ 6,258	$ 1,728													$ 2,066	$ (12,799)	$ 5,161	$ 2,066	$ (12,799)	$ 5,161
Change in value on risk management derivatives					15,473	2,032	(23,290)	15,473	2,032	(23,290)	(881)	2,220	(1,778)	(881)	2,220	(1,778)	14,592	4,252		14,592	4,252
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales					(10,175)	10,613	7,108	(10,175)	10,613	7,108							(10,175)	10,613		(10,175)	10,613
Ending balance	$ 6,181	$ 1,697	$ 6,258	$ 1,728													$ 6,483	$ 2,066	$ 5,161	$ 6,483	$ 2,066	$ 5,161

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Transactions With Related Parties (Allocation Of Transactions With Related Parties) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Related Party Transaction [Line Items]
General and administrative expense	$ 65,156,000	$ 53,181,000	$ 43,212,000
Ferrellgas, L.P. [Member]
Related Party Transaction [Line Items]
General and administrative expense	65,156,000	53,181,000	43,212,000
Compensation And Benefits [Member]
Related Party Transaction [Line Items]
Operating expense	216,657,000	203,859,000	198,576,000
General and administrative expense	32,119,000	30,053,000	26,213,000
Compensation And Benefits [Member] \| Ferrellgas, L.P. [Member]
Related Party Transaction [Line Items]
Operating expense	216,657,000	203,859,000	198,576,000
General and administrative expense	$ 32,119,000	$ 30,053,000	$ 26,213,000

Contingencies And Commitments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Transportation Equipment [Member]
Transportation equipment lease expiration period	7 years
Guarantees Residual Value, Fair Value Disclosure	$ 1.2
Guarantor Obligations, Maximum Exposure, Undiscounted	5.1
Transportation Equipment [Member] \| Ferrellgas, L.P. [Member]
Transportation equipment lease expiration period	7 years
Guarantees Residual Value, Fair Value Disclosure	1.2
Guarantor Obligations, Maximum Exposure, Undiscounted	5.1
Property And Equipment [Member]
Non-cancelable operating leases, expiration year	2024
Rental expense	35.6	32.2	31.7
Property And Equipment [Member] \| Ferrellgas, L.P. [Member]
Non-cancelable operating leases, expiration year	2024
Rental expense	$ 35.6	$ 32.2	$ 31.7

Contingencies And Commitments (Contractual Operating Lease Commitments And Buyouts) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2014
Operating Lease Obligations [Member]
Operating Leased Assets [Line Items]
2015	$ 31,635
2016	26,182
2017	21,120
2018	16,456
2019	11,798
Thereafter	11,884
Operating Lease Obligations [Member] \| Ferrellgas, L.P. [Member]
Operating Leased Assets [Line Items]
2015	31,635
2016	26,182
2017	21,120
2018	16,456
2019	11,798
Thereafter	11,884
Operating Lease Buyouts [Member]
Operating Leased Assets [Line Items]
2015	1,448
2016	2,054
2017	1,509
2018	2,746
2019	2,893
Thereafter	6,649
Operating Lease Buyouts [Member] \| Ferrellgas, L.P. [Member]
Operating Leased Assets [Line Items]
2015	1,448
2016	2,054
2017	1,509
2018	2,746
2019	2,893
Thereafter	$ 6,649

Employee Benefits (Details) (USD $)	12 Months Ended
Employee Benefits (Details) (USD $)	Jul. 31, 2014 employee	Jul. 31, 2013	Jul. 31, 2012
Number of employees	0
Non-cash employee stock ownership plan compensation charge	$ 21,789,000	$ 15,769,000	$ 9,440,000
Matching contributions	3,600,000	3,000,000	2,900,000
Other comprehensive income and other liabilities adjustment	300,000	300,000	0
Ferrellgas, L.P. [Member]
Number of employees	0
Non-cash employee stock ownership plan compensation charge	21,789,000	15,769,000	9,440,000
Matching contributions	3,600,000	3,000,000	2,900,000
Other comprehensive income and other liabilities adjustment	$ 300,000	$ 300,000	$ 0

Net Earnings (Loss) Per Common Unitholders' Interest Net Earnings (Loss) Per Common Unitholders' Interest (Narrative) (Details) (USD $) Share data in Millions, unless otherwise specified	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			0.1
Dilutive effect on earnings per share	$ 0	$ 0	$ 0

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References+ Details

Net Earnings (Loss) Per Common Unitholders' Interest (Schedule of Earnings Per Share) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Earnings Per Share [Abstract]
Common unitholders' interest in net earnings (loss)	$ (47,317)	$ 44,931	$ 59,860	$ (24,595)	$ (28,516)	$ 44,234	$ 55,069	$ (17,481)	$ 32,879	$ 55,862	$ (10,842)
Weighted average common units outstanding									79,651,100	79,038,600	77,572,400
Dilutive securities									20,600	37,000	0
Weighted Average Number of Shares Outstanding, Basic and Diluted									79,671,700	79,075,600	77,572,400
Basic and diluted net earnings (loss) per common unitholders' interest	$ (0.58)	$ 0.57	$ 0.72	$ (0.31)	$ (0.36)	$ 0.56	$ 0.70	$ (0.22)	$ 0.41	$ 0.71	$ (0.14)

Segment Reporting Segment Reporting (Schedule of Segment Reporting Information, by Segment) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014
Statement [Line Items]
Revenues	$ 2,405,860
Costs and Expenses	2,117,712
Adjusted EBITDA	288,148
Propane and related equipment sales [Member]
Statement [Line Items]
Revenues	2,398,425
Costs and Expenses	2,067,133
Adjusted EBITDA	331,292
Midstream Operations [Member]
Statement [Line Items]
Revenues	7,435
Costs and Expenses	3,997
Adjusted EBITDA	3,438
Corporate and Other [Member]
Statement [Line Items]
Revenues	0
Costs and Expenses	46,582
Adjusted EBITDA	(46,582)
Ferrellgas, L.P. [Member]
Statement [Line Items]
Revenues	2,405,860
Costs and Expenses	2,117,735
Adjusted EBITDA	288,125
Ferrellgas, L.P. [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Revenues	2,398,425
Costs and Expenses	2,067,156
Adjusted EBITDA	331,269
Ferrellgas, L.P. [Member] \| Midstream Operations [Member]
Statement [Line Items]
Revenues	7,435
Costs and Expenses	3,997
Adjusted EBITDA	3,438
Ferrellgas, L.P. [Member] \| Corporate and Other [Member]
Statement [Line Items]
Revenues	0
Costs and Expenses	46,582
Adjusted EBITDA	$ (46,582)

Net Earnings (Loss) Per Common Unitholders' Interest Net Earnings (Loss) Per Common Unitholders' Interest (Earnings Distribution Allocation) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014
Upper Range [Member] \| Common Stock [Member]
Earnings Distribution Allocation [Line Items]
Allocated Distribution	51.50%
Upper Range [Member] \| General Partner [Member]
Earnings Distribution Allocation [Line Items]
Allocated Distribution	48.50%
Middle Range [Member] \| Common Stock [Member]
Earnings Distribution Allocation [Line Items]
Allocated Distribution	76.80%
Middle Range [Member] \| General Partner [Member]
Earnings Distribution Allocation [Line Items]
Allocated Distribution	23.20%
Lower Range [Member] \| Common Stock [Member]
Earnings Distribution Allocation [Line Items]
Allocated Distribution	86.90%
Lower Range [Member] \| General Partner [Member]
Earnings Distribution Allocation [Line Items]
Allocated Distribution	13.10%
Minimum [Member] \| Upper Range [Member]
Earnings Distribution Allocation [Line Items]
Earnings Per Share, Basic, Distributed	$ 0.83
Minimum [Member] \| Middle Range [Member]
Earnings Distribution Allocation [Line Items]
Earnings Per Share, Basic, Distributed	$ 0.64
Minimum [Member] \| Lower Range [Member]
Earnings Distribution Allocation [Line Items]
Earnings Per Share, Basic, Distributed	$ 0.56
Maximum [Member] \| Middle Range [Member]
Earnings Distribution Allocation [Line Items]
Earnings Per Share, Basic, Distributed	$ 0.82
Maximum [Member] \| Lower Range [Member]
Earnings Distribution Allocation [Line Items]
Earnings Per Share, Basic, Distributed	$ 0.63

Segment Reporting Segment Reporting (Reconciliation of Assets from Segment to Consolidated) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013
Statement [Line Items]
Assets	$ 1,572,270,000	$ 1,356,028,000
Propane and related equipment sales [Member]
Statement [Line Items]
Assets	1,400,603,000
Midstream Operations [Member]
Statement [Line Items]
Assets	136,116,000
Corporate and Other [Member]
Statement [Line Items]
Assets	35,551,000
Ferrellgas, L.P. [Member]
Statement [Line Items]
Assets	1,569,833,000	1,352,932,000
Ferrellgas, L.P. [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Assets	1,400,603,000
Ferrellgas, L.P. [Member] \| Midstream Operations [Member]
Statement [Line Items]
Assets	136,116,000
Ferrellgas, L.P. [Member] \| Corporate and Other [Member]
Statement [Line Items]
Assets	$ 33,114,000

Segment Reporting Segment Reporting (Schedule of Capital Expenditure Information, by Segment) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2014
Statement [Line Items]
Capital Expenditures	$ 50,981
Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	45,183
Midstream Operations [Member]
Statement [Line Items]
Capital Expenditures	1,896
Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	3,902
Maintenance Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	18,138
Maintenance Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	14,682
Maintenance Capital Expenditures [Member] \| Midstream Operations [Member]
Statement [Line Items]
Capital Expenditures	181
Maintenance Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	3,275
Growth Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	32,843
Growth Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	30,501
Growth Capital Expenditures [Member] \| Midstream Operations [Member]
Statement [Line Items]
Capital Expenditures	1,715
Growth Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	627
Ferrellgas, L.P. [Member]
Statement [Line Items]
Capital Expenditures	50,981
Ferrellgas, L.P. [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	45,183
Ferrellgas, L.P. [Member] \| Midstream Operations [Member]
Statement [Line Items]
Capital Expenditures	1,896
Ferrellgas, L.P. [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	3,902
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	18,138
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	14,682
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Midstream Operations [Member]
Statement [Line Items]
Capital Expenditures	181
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	3,275
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	32,843
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	30,501
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Midstream Operations [Member]
Statement [Line Items]
Capital Expenditures	1,715
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	$ 627

Segment Reporting Segment Reporting (Reconciliation of Consolidated EBITDA to Consolidated Net Earnings) (Details) (USD $)	3 Months Ended								12 Months Ended
	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Income (Loss) Attributable to Parent	$ (47,795,000)	$ 45,385,000	$ 60,464,000	$ (24,843,000)	$ (28,804,000)	$ 44,681,000	$ 58,207,000	$ (17,658,000)	$ 33,211,000	$ 56,426,000	$ (10,952,000)
Income tax expense									2,516,000	1,855,000	1,128,000
Interest Expense									86,502,000
Depreciation and amortization expense									84,202,000	83,344,000	83,841,000
EBITDA									206,431,000
Loss on extinguishment of debt									21,202,000	0	0
Non-cash employee stock ownership plan compensation charge									(21,789,000)	(15,769,000)	(9,440,000)
Non-cash stock and unit-based compensation charge									24,508,000	13,545,000	8,843,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal									6,486,000
Other Nonoperating Income (Expense)									479,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability				0				0	5,000,000
Estimated Litigation Liability	1,749,000								1,749,000
Net earnings (loss)	(48,241,000)	45,890,000	61,123,000	(25,057,000)	(29,060,000)	45,180,000	58,843,000	(17,796,000)	33,715,000	57,167,000	(10,896,000)
Adjusted EBITDA									288,148,000
Non-Controlling Interest [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net earnings (loss)									504,000	741,000	56,000
Ferrellgas, L.P. [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income tax expense									2,471,000	1,838,000	1,120,000
Interest Expense									70,332,000
Depreciation and amortization expense									84,202,000	83,344,000	83,841,000
EBITDA									206,912,000
Loss on extinguishment of debt									21,202,000	0	0
Non-cash employee stock ownership plan compensation charge									(21,789,000)	(15,769,000)	(9,440,000)
Non-cash stock and unit-based compensation charge									24,508,000	13,545,000	8,843,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal									6,486,000
Other Nonoperating Income (Expense)									479,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability				0				0	5,000,000
Estimated Litigation Liability	1,749,000								1,749,000
Net earnings (loss)	(44,179,000)	50,053,000	65,171,000	(21,138,000)	(25,282,000)	49,396,000	62,953,000	(13,692,000)	49,907,000	73,375,000	5,589,000
Adjusted EBITDA									$ 288,125,000

Quarterly Data (Unaudited) (Summarized Unaudited Quarterly Data) (Details) (USD $)	3 Months Ended								12 Months Ended
	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2013	Jan. 31, 2013	Oct. 31, 2012	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Revenues	$ 399,030,000	$ 722,117,000	$ 869,683,000	$ 415,030,000	$ 350,673,000	$ 603,020,000	$ 658,865,000	$ 362,909,000	$ 2,405,860,000	$ 1,975,467,000	$ 2,339,092,000
Gross margin from propane and other gas liquids sales (a)	126,685,000	202,861,000	237,940,000	123,469,000	123,343,000	195,201,000	206,838,000	121,624,000
Net earnings (loss)	(48,241,000)	45,890,000	61,123,000	(25,057,000)	(29,060,000)	45,180,000	58,843,000	(17,796,000)	33,715,000	57,167,000	(10,896,000)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(47,795,000)	45,385,000	60,464,000	(24,843,000)	(28,804,000)	44,681,000	58,207,000	(17,658,000)	33,211,000	56,426,000	(10,952,000)
Common unitholders' interest in net earnings (loss)	(47,317,000)	44,931,000	59,860,000	(24,595,000)	(28,516,000)	44,234,000	55,069,000	(17,481,000)	32,879,000	55,862,000	(10,842,000)
Basic and diluted net earnings (loss) per common unitholders' interest	$ (0.58)	$ 0.57	$ 0.72	$ (0.31)	$ (0.36)	$ 0.56	$ 0.70	$ (0.22)	$ 0.41	$ 0.71	$ (0.14)
Ferrellgas, L.P. [Member]
Revenues	399,030,000	722,117,000	869,683,000	415,030,000	350,673,000	603,020,000	658,865,000	362,909,000	2,405,860,000	1,975,467,000	2,339,092,000
Gross margin from propane and other gas liquids sales (a)	126,685,000	202,861,000	237,940,000	123,469,000	123,343,000	195,201,000	206,838,000	121,624,000
Net earnings (loss)	$ (44,179,000)	$ 50,053,000	$ 65,171,000	$ (21,138,000)	$ (25,282,000)	$ 49,396,000	$ 62,953,000	$ (13,692,000)	$ 49,907,000	$ 73,375,000	$ 5,589,000

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Income Taxes (Narrative) (Details) (USD $)	12 Months Ended
Income Taxes (Narrative) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Deferred tax expense (benefit)	$ 88,000	$ 133,000	$ 913,000
Deferred tax assets	1,152,000	1,367,000
Ferrellgas Partners Finance Corp. [Member]
Deferred tax assets, operating loss carryforwards	5,675
Net operating loss carryforward	14,588
Net operating loss carryforward, expiration date	Jul. 31, 2034
Deferred tax expense (benefit)	0	0	0
Deferred tax assets	0	0
Valuation allowance provided for deferred tax asset	5,675
Ferrellgas Finance Corp. [Member]
Deferred tax assets, operating loss carryforwards	19,103
Net operating loss carryforward	49,109
Net operating loss carryforward, expiration date	Jul. 31, 2034
Deferred tax expense (benefit)	0	0	0
Deferred tax assets	0	0
Valuation allowance provided for deferred tax asset	$ 19,103

Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Subsequent Events Subsequent Events (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended				0 Months Ended
	Sep. 12, 2014 Subsequent Event [Member]	Sep. 01, 2014 Subsequent Event [Member]	Jul. 31, 2014 Midstream Operations [Member]	Sep. 01, 2014 Midstream Operations [Member] Subsequent Event [Member]	Sep. 12, 2014 Ferrellgas, L.P. [Member] Subsequent Event [Member]	Sep. 01, 2014 Ferrellgas, L.P. [Member] Subsequent Event [Member]	Jul. 31, 2014 Ferrellgas, L.P. [Member] Midstream Operations [Member]	Sep. 01, 2014 Ferrellgas, L.P. [Member] Midstream Operations [Member] Subsequent Event [Member]
Subsequent Event [Line Items]
Number of salt water wells			8	2			8	2
Stock Issued During Period, Shares, New Issues	1.5				1.5
Proceeds from equity offering, net of issuance costs		$ 42.0				$ 42.0

Schedule I Parent Only Balance Sheets, Statements Of Earnings And Cash Flows (Balance Sheets) (Details) (USD $)	Jul. 31, 2014	Jul. 31, 2013
ASSETS
Cash and cash equivalents	$ 8,289,000	$ 6,464,000
Prepaid expenses and other current assets	32,071,000	25,608,000
Other assets, net	46,171,000	42,444,000
Total assets	1,572,270,000	1,356,028,000
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Other current liabilities	125,161,000	121,102,000
Long-term debt	1,292,214,000	1,106,940,000
Partners' capital (deficit)
Common unitholders	(57,893,000)	(28,931,000)
General partner unitholder	(60,654,000)	(60,362,000)
Accumulated other comprehensive income (loss)	6,181,000	1,697,000
Total Ferrellgas Partners, L.P. partners' capital (deficit)	(112,366,000)	(87,596,000)
Total liabilities and partners' capital (deficit)	1,572,270,000	1,356,028,000
Parent Company [Member]
ASSETS
Cash and cash equivalents	6,000	157,000
Prepaid expenses and other current assets	0	26,000
Investment in Ferrellgas, L.P.	69,205,000	93,507,000
Other assets, net	2,439,000	2,913,000
Total assets	71,650,000	96,603,000
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Other current liabilities	2,016,000	2,199,000
Long-term debt	182,000,000	182,000,000
Partners' capital (deficit)
Common unitholders	(57,893,000)	(28,931,000)
General partner unitholder	(60,654,000)	(60,362,000)
Accumulated other comprehensive income (loss)	6,181,000	1,697,000
Total Ferrellgas Partners, L.P. partners' capital (deficit)	(112,366,000)	(87,596,000)
Total liabilities and partners' capital (deficit)	$ 71,650,000	$ 96,603,000

Schedule I Parent Only Balance Sheets, Statements Of Earnings And Cash Flows (Balance Sheets) (Parenthetical) (Details)	Jul. 31, 2014	Jul. 31, 2013
Common unitholders, units outstanding	81,228,237	79,072,819
General partner unitholder, units outstanding	820,487	798,715
Parent Company [Member]
Common unitholders, units outstanding	81,228,237	79,072,819
General partner unitholder, units outstanding	820,487	798,715

Schedule I Parent Only Balance Sheets, Statements Of Earnings And Cash Flows (Statement Of Earnings) (Details) (USD $)	12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2012
Condensed Financial Statements, Captions [Line Items]
Operating expense	$ (451,528,000)	$ (412,450,000)	$ (401,727,000)
Operating income (loss)	144,414,000	147,602,000	82,980,000
Interest expense	(86,502,000)	(89,145,000)	(93,254,000)
Loss on extinguishment of debt	(21,202,000)	0	0
Other income (expense), net	(479,000)	565,000	506,000
Income tax expense	(2,516,000)	(1,855,000)	(1,128,000)
Net earnings (loss)	33,715,000	57,167,000	(10,896,000)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Equity in earnings (loss) of Ferrellgas, L.P.	49,403,000	72,634,000	5,533,000
Operating expense	23,000	(20,000)	(350,000)
Operating income (loss)	49,426,000	72,614,000	5,183,000
Interest expense	(16,170,000)	(16,171,000)	(16,127,000)
Income tax expense	(45,000)	(17,000)	(8,000)
Net earnings (loss)	$ 33,211,000	$ 56,426,000	$ (10,952,000)