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, 2015, Ferrell Companies Inc. beneficially owns 22.8 million of Ferrellgas Partners’ outstanding common units and also owns 100% of Ferrellgas, Inc. Ferrellgas, Inc. (the "general partner") retains 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 primary businesses:

•

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 two reportable operating segments: crude oil logistics and water solutions. The crude oil logistics segment ("Bridger") generates income by providing crude oil transportation and logistics services on behalf of producers and end-users of crude oil. Bridger's services include transportation through its operation of a fleet of trucks and tank trailers and railcars primarily servicing Texas, Lousiana, North Dakota, Pennsylvania, Colorado and Wyoming; pipeline services in North Dakota, Montana, Wyoming, New Mexico, Mississippi, Oklahoma and Texas; and crude oil purchase and sale in connection with pipeline management services. The salt water disposal wells within the water solutions segment are located in the Eagle Ford shale region of south Texas and are a critical component of the oil and natural gas well drilling industry. Oil and natural gas wells generate significant volumes of salt water. In the oil and gas fields Ferrellgas services, these volumes of water are transported by truck away from the fields to salt water disposal wells where a combination of gravity and chemicals are used to separate crude oil from the salt water through a process that results in the collection of "skimming oil". This skimming oil is then captured and sold before the salt water is injected into underground geologic formations using high-pressure pumps.

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 primary businesses:

•

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, L.P. 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 two reportable operating segments: crude oil logistics and water solutions. The crude oil logistics segment ("Bridger") generates income by providing crude oil transportation and logistics services on behalf of producers and end-users of crude oil. Bridger's services include transportation through its operation of a fleet of trucks and tank trailers and railcars primarily servicing Texas, Lousiana, North Dakota, Pennsylvania, Colorado and Wyoming; pipeline services in North Dakota, Montana, Wyoming, New Mexico, Mississippi, Oklahoma and Texas; and crude oil purchase and sale in connection with pipeline management services. The salt water disposal wells within the water solutions segment are located in the Eagle Ford shale region of south Texas and are a critical component of the oil and natural gas well drilling industry. Oil and natural gas wells generate significant volumes of salt water. In the oil and gas fields Ferrellgas, L.P. services, these volumes of water are transported by truck away from the fields to salt water disposal wells where a combination of gravity and chemicals are used to separate crude oil from the salt water through a process that results in the collection of "skimming oil". This skimming oil is then captured and sold before the salt water is injected into underground geologic formations using high-pressure pumps.

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, 2015

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-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,
	2015		2014		2013
CASH PAID FOR:
Interest	$	91,783	$	90,820	$	84,030
Income taxes	$	712	$	816	$	550
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common units in connection with acquisitions	$	262,952	$	1,500	$	—
Liabilities incurred in connection with acquisitions	$	481	$	4,312	$	2,035
Change in accruals for property, plant and equipment additions	$	498	$	978	$	533

(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 five reporting units for goodwill impairment testing purposes. Four 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, Products and Midstream operations - water solutions reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2015. Goodwill associated with the Midstream operations - crude oil logistics reporting unit is a result of the acquisition of Bridger on June 24, 2015.

As a result of the significant drop in the price of crude oil and its impact on the results of Midstream operations - water solutions reporting unit during the second half of fiscal 2015, Ferrellgas considered whether the carrying value of this reporting unit no longer exceeded the fair value. Upon applying the fair-value-based test as described above for purposes of the annual impairment test, Ferrellgas concluded that there was no impairment of the Midstream operations - water solutions reporting unit as of July 31, 2015. As of July 31, 2015, Ferrellgas determined that this reporting unit had an estimated fair value in excess of its respective carrying value of approximately 10%.

This test primarily consists of a discounted future cash flow model to estimate fair value. The cash flow model includes the following critical assumptions: (1) the NYMEX West Texas Intermediate (“WTI”) crude oil curve as of July 31, 2015 was used to predict future oil prices; (2) the oil skimming rate is expected to correlate to the NYMEX WTI crude oil curve consistent with Ferrellgas’ past history; (3) a terminal period growth rate equal to the expected rate of inflation; and (4) certain organic growth projects will increase the salt water volumes processed as a result of new drilling activity in the Eagle Ford shale region of Texas that are expected to occur as the price of WTI crude oil increases. Ferrellgas believes that the results of this business are closely tied to the price of WTI crude oil and, therefore, if any of these assumptions are not sustained or are not sustained in a timely manner, the Midstream operations - water solutions reporting unit could incur material impairments. In addition to these critical cash flow assumptions, a discount rate of 11.1% was applied to the projected cash flows. A 5% increase, resulting in a discount rate equal to 11.7%, could cause Ferrellgas to fail step one of the goodwill impairment test. If this reporting unit fails step one in the future, we would be required to perform step two of the goodwill impairment test. If we perform step two, up to $29.3 million of goodwill assigned to this reporting unit could be written off in the period that the impairment is triggered.

Judgments and assumptions are inherent in management’s estimates used to determine the fair value of Ferrellgas' reporting units and are consistent with what management believes would be utilized by primary market participants. The use of alternate judgments and assumptions could result in the recognition of different levels of impairment charges in the financial statements.

(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 and Transportation Fuel 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, gasoline, diesel and crude oil prices.

Ferrellgas’ risk management activities primarily attempt to mitigate price risks related to the purchase, storage, transport and sale of propane and crude oil 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. Additionally, Ferrellgas risk management activities attempt to mitigate price risks related to the purchase of gasoline and diesel fuel for use in the transport of propane from retail fueling stations through the use of financial derivative instruments.

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. The propane related financial derivatives are designated as cash flow hedges. The gasoline and diesel related financial derivatives are not formally designated and documented as a hedge of exposure to fluctuations in the market price of fuel.

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 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.

Financial instruments not formally designated and documented as a hedge of a specific underlying exposure are recorded 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 "Cost of sales - midstream operations" and "Operating expense" on the consolidated statements of earnings.

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 Ferrellgas' 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 Ferrellgas' midstream operations - crude oil logistics segment include crude oil sales, pipeline tariffs, trucking fees, rail throughput fees, pipeline management services, leasing, throughput, and storage; all items deemed as being associated with the transportation of crude oil. These revenues are recognized upon completion of the related service or delivery of product.

Revenues from Ferrellgas' midstream operations - water solutions 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 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 sales: “Cost of sales – 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 sales - midstream operations" includes all costs incurred to purchase and transport crude oil, including the costs of terminaling and transporting crude oil prior to delivery to customers and transportation cost related to the processing and disposal of salt water. “Cost of sales – other” primarily includes costs related to the sale of propane appliances and equipment.

(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. Within midstream operations, "Operating expense" includes plant, office, selling, marketing, credit and collections and other expense.

(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 plans:

Ferrell Companies, Inc. Incentive Compensation Plans (“ICPs”)

The ICPs are not Ferrellgas stock-compensation plans; 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, 2015, 2014 and 2013, the portion of the total non-cash compensation charge relating to the ICPs was $25.6 million, $24.5 million and $13.5 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 SARs were 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 SARs 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.

Effective July 31, 2015, Ferrell Companies is authorized to issue deferred appreciation right ("DARs") awards that are based on shares of Ferrell Companies common stock. The DAR awards were 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 DAR 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,
	2015			2014		2013
Current expense (benefit)	$	(585	)	$	2,428	$	1,722
Deferred expense	270			88		133
Income tax expense (benefit)	$	(315	)	$	2,516	$	1,855

Deferred taxes consisted of the following:



	July 31,
	2015			2014
Deferred tax assets	$	724		$	1,152
Deferred tax liabilities	(4,157		)	(4,313		)
Net deferred tax liability	$	(3,433	)	$	(3,161	)

(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 per common unitholders’ interest: Net earnings per common unitholders’ interest is computed by dividing “Net earnings 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 per common unitholders’ interest – for further discussion about these calculations.

(20) Loss contingencies: In the normal course of business, Ferrellgas is involved in various claims and legal proceedings. Ferrellgas records a liability for such matters when it is probable that a loss has been incurred and the amounts can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. Legal costs associated with these loss contingencies are expensed as incurred.

(21) New accounting standards:

Financial Accounting Standards Board ("FASB") Accounting Standard Update ("ASU") 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, 2018, 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 the 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 Ferrellgas' 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 does not expect the adoption of ASU 2014-08 to have a material impact on the consolidated financial statements.

FASB Accounting Standard Update No. 2015-02

In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis, which provides additional guidance on the consolidation of limited partnerships and on the evaluation of variable interest entities. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. Ferrellgas is currently evaluating the impact of our pending adoption of ASU 2015-02 on the consolidated financial statements.

FASB Accounting Standard Update No. 2015-03

In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying value of the debt liability. ASU 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted, and retrospective application required. Ferrellgas is currently evaluating the impact of our pending adoption of ASU 2015-03 on the 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: Bridger Logistics, LLC, 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,
	2015		2014		2013
CASH PAID FOR:
Interest	$	76,085	$	75,121	$	68,334
Income taxes	$	643	$	771	$	534
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets contributed from Ferrellgas Partners in connection with acquisitions	$	825,452	$	1,500	$	—
Liabilities incurred in connection with acquisitions	$	481	$	4,312	$	2,035
Change in accruals for property, plant and equipment additions	$	498	$	978	$	533

(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 five reporting units for goodwill impairment testing purposes. Four 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, Products and Midstream operations - water solutions reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2015. Goodwill associated with the Midstream operations - crude oil logistics reporting unit is a result of the acquisition of Bridger on June 24, 2015.

As a result of the significant drop in the price of crude oil and its impact on the results of Midstream operations - water solutions reporting unit during the second half of fiscal 2015, Ferrellgas, L.P. considered whether the carrying value of this reporting unit no longer exceeded the fair value. Upon applying the fair-value-based test as described above for purposes of the annual impairment test, Ferrellgas, L.P. concluded that there was no impairment of the Midstream operations - water solutions reporting unit as of July 31, 2015. As of July 31, 2015, Ferrellgas, L.P. determined that this reporting unit had an estimated fair value in excess of its respective carrying value of approximately 10%.

This test primarily consists of a discounted future cash flow model to estimate fair value. The cash flow model includes the following critical assumptions: (1) the NYMEX West Texas Intermediate (“WTI”) crude oil curve as of July 31, 2015 was used to predict future oil prices; (2) the oil skimming rate is expected to correlate to the NYMEX WTI crude oil curve consistent with Ferrellgas, L.P.’s past history; (3) a terminal period growth rate equal to the expected rate of inflation; and (4) certain organic growth projects will increase the salt water volumes processed as a result of new drilling activity in the Eagle Ford shale region of Texas that are expected to occur as the price of WTI crude oil increases. Ferrellgas, L.P. believes that the results of this business are closely tied to the price of WTI crude oil and, therefore, if any of these assumptions are not sustained or are not sustained in a timely manner, the Midstream operations - water solutions reporting unit could incur material impairments. In addition to these critical cash flow assumptions, a discount rate of 11.1% was applied to the projected cash flows. A 5% increase, resulting in a discount rate equal to 11.7%, could cause Ferrellgas, L.P. to fail step one of the goodwill impairment test. If this reporting unit fails step one in the future, we would be required to perform step two of the goodwill impairment test. If we perform step two, up to $29.3 million of goodwill assigned to this reporting unit could be written off in the period that the impairment is triggered.

Judgments and assumptions are inherent in management’s estimates used to determine the fair value of Ferrellgas, L.P.'s reporting units and are consistent with what management believes would be utilized by primary market participants. The use of alternate judgments and assumptions could result in the recognition of different levels of impairment charges in the financial statements.

(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) Derivative instruments and hedging activities:

Commodity and Transportation Fuel 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, gasoline, diesel and crude oil prices.

Ferrellgas, L.P's risk management activities primarily attempt to mitigate price risks related to the purchase, storage, transport and sale of propane and crude oil 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. Additionally, Ferrellgas, L.P.'s risk management activities attempt to mitigate price risks related to the purchase of gasoline and diesel fuel for use in the transport of propane from retail fueling stations through the use of financial derivative instruments.

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. The gasoline and diesel related financial derivatives are not formally designated and documented as a hedge of exposure to fluctuations in the market price of fuel.

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 financial 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 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, L.P. 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 Ferrellgas, L.P.'s 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, L.P. determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions. Ferrellgas, L.P. 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 Ferrellgas, L.P.'s midstream operations - crude oil logistics segment include crude oil sales, pipeline tariffs, trucking fees, rail throughput fees, pipeline management services, leasing, throughput, and storage; all items deemed as being associated with the transportation of crude oil. These revenues are recognized upon completion of the related service or delivery of product.

Revenues from Ferrellgas, L.P.'s midstream operations - water solutions 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, L.P. 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 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 sales: “Cost of sales – 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 sales - midstream operations" includes all costs incurred to purchase and transport crude oil, including the costs of terminaling and transporting crude oil prior to delivery to customers and transportation cost related to the processing and disposal of salt water. “Cost of sales – other” primarily includes costs related to the sale of propane appliances and equipment.

(16) Stock-based plans:

Ferrell Companies, Inc. Incentive Compensation Plans (“ICPs”)

The ICPs are not Ferrellgas, L.P. stock-compensation plans; 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, 2015, 2014 and 2013, the portion of the total non-cash compensation charge relating to the ICPs was $25.6 million, $24.5 million and $13.5 million, respectively.

(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,
	2015			2014		2013
Current expense (benefit)	$	(654	)	$	2,383	$	1,705
Deferred expense	270			88		133
Income tax expense	$	(384	)	$	2,471	$	1,838

Deferred taxes consisted of the following:



	July 31,
	2015			2014
Deferred tax assets	$	724		$	1,152
Deferred tax liabilities	(4,157		)	(4,313		)
Net deferred tax liability	$	(3,433	)	$	(3,161	)

(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) Loss contingencies: In the normal course of business, Ferrellgas, L.P. is involved in various claims and legal proceedings. Ferrellgas, L.P. records a liability for such matters when it is probable that a loss has been incurred and the amounts can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. Legal costs associated with these loss contingencies are expensed as incurred.

(20) New accounting standards:

Financial Accounting Standards Board ("FASB") Accounting Standard Update ("ASU") 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, 2018, 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 the 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 Ferrellgas, L.P.'s 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. does not expect the adoption of ASU 2014-08 to have a material impact on the consolidated financial statements.

FASB Accounting Standard Update No. 2015-02

In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis which provides additional guidance on the consolidation of limited partnerships and on the evaluation of variable interest entities. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted. Ferrellgas, L.P. is currently evaluating the impact of our pending adoption of ASU 2015-02 on the consolidated financial statements.

FASB Accounting Standard Update No. 2015-03

In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying value of the debt liability. ASU 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted, and retrospective application required. Ferrellgas, L.P. is currently evaluating the impact of our pending adoption of ASU 2015-03 on the consolidated financial statements.

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

+ References+ Details

Business Combinations

12 Months Ended

Jul. 31, 2015

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' balance sheets or results of operations, except for Bridger as noted below.

Propane and related equipment sales

During July 2015, Ferrellgas acquired the assets of Propane Advantage, LLC, based in Utah, with an aggregate value of $7.7 million.

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.

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.

These acquisitions, were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments, net of cash acquired	$	4,250	$	34,219	$	37,186
Issuance of liabilities and other costs and considerations	481		2,942		2,035
Common units, net of issuance costs	3,000		1,500		—
Aggregate fair value of transactions	$	7,731	$	38,661	$	39,221

The aggregate fair values, for the acquisitions in propane and related equipment sales reporting segment, were allocated as follows, including any adjustments identified during the measurement period:



	For the year ended July 31,
	2015		2014			2013
Working capital	$	233	$	(919	)	$	7,302
Customer tanks, buildings, land and other	236		14,519			5,155
Goodwill	—		2,922			4,640
Customer lists	6,569		19,480			12,211
Non-compete agreements	693		2,659			944
Other intangibles	—		—			5,678
Trade names & trademarks	—		—			3,291
Aggregate fair value of net assets acquired	$	7,731	$	38,661		$	39,221

Midstream operations - Water solutions

During fiscal 2015, Ferrellgas acquired salt water disposal assets with an aggregate value of $74.7 million in the following transactions, which includes $1.4 million paid in fiscal 2015 as a working capital and valuation adjustment for prior year acquisitions:


•	C&E Production, LLC, based in Texas, acquired September 2014; and


•	Segrest Saltwater Resources, based in Texas, acquired May 2015.

During fiscal 2014, Ferrellgas acquired salt water disposal assets with an aggregate value of $130.3 million relating to the midstream - water solutions segment. This included the acquisitions of Sable Environmental, LLC and Sable SWD 2, LLC ("Sable"), based in Corpus Christi, Texas and 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 were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments. net of cash acquired	$	74,677	$	127,785	$	—
Issuance of liabilities and other costs and considerations	—		2,555		—
Aggregate fair value of transactions	$	74,677	$	130,340	$	—

The aggregate fair values, for these acquisitions were allocated as follows:



	For the year ended July 31,
	2015		2014		2013
Working capital	$	1,155	$	490	$	—
Customer tanks, buildings, land and other	1,704		622		—
Salt water disposal wells	10,705		24,288		—
Goodwill	12,359		16,957		—
Customer relationships	38,846		64,000		—
Non-compete agreements	3,639		13,300		—
Permits and favorable lease arrangements	6,269		10,683		—
Aggregate fair value of net assets acquired	$	74,677	$	130,340	$	—

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 was 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.

Midstream operations - Crude oil logistics solutions

On June 24, 2015, Ferrellgas acquired Bridger and formed a new midstream operation - crude oil logistics segment based near Dallas, Texas. Ferrellgas paid $560.0 million of cash, net of cash acquired and issued $260.0 million of Ferrellgas Partners common units to the seller, along with $2.5 million of other seller costs and consideration for an aggregate value of $822.5 million. Ferrellgas has incurred and charged to operating expenses, net $16.4 million of costs during the year ended July 31, 2015, related to the acquisition and transition of Bridger.

Bridger's assets include rail cars, trucks, tank trailers, injection stations, a pipeline, and other assets. Bridger's operations provide crude oil transportation logistics on behalf of producers and end-users of crude oil on a fee-for-service basis, and purchases and sells crude oil in connection with other fee-for-service arrangements.

The excess of purchase consideration over net assets assumed was recorded as goodwill, which represents the strategic value assigned to Bridger, including the knowledge and experience of the workforce in place.

The aggregate fair value for the Bridger Logistics Acquisition in the midstream operations - crude oil logistics solutions segment was preliminarily allocated as follows:



	For the year ended July 31,
	2015
Working capital	$	1,783
Transportation equipment	293,491
Injection stations and pipelines	41,632
Goodwill	193,311
Customer relationships	261,811
Non-compete agreements	14,800
Trade names & trademarks	5,800
Office equipment	7,449
Other	2,375
Aggregate fair value of net assets acquired	$	822,452

The following amounts from this acquisition were included in the operating results for the year ending July 31, 2015:



	For the year ended July 31,
	2015
Revenue	$	81,512
Operating income	3,848

Pro forma results of operations (unaudited)

The following summarized unaudited pro forma consolidated statement of earnings information assumes that the acquisition of Bridger during fiscal 2015 occurred as of August 1, 2013. These unaudited pro forma results are for comparative purposes only and may not be indicative of the results that would have occurred had this acquisition been completed on August 1, 2013 or the results that would be attained in the future.



	For the year ended July 31,
	2015			2014
Revenue	$	2,319,927		2,583,680
Net earnings (loss)	(11,834		)	4,388
Net earnings (loss) per common unitholders' interest	$	(0.14	)	$	0.05

The unaudited pro forma consolidated data presented above has also been prepared as if the following transactions, which are described in Notes H and I to these consolidated financial statements, had been completed on August 1, 2013:


•	the issuance of senior secured notes in June 2015;


•	the sale of common units in June 2015 in a public offering; and


•	the issuance of common units to the seller in June 2015.

The estimated fair values and useful lives of assets acquired during fiscal 2015 are based on a preliminary valuation 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 2014 and 2013 are based on internal valuations and included only minor adjustments during the 12 month period after the date of acquisition. Due to the immateriality of these adjustments, Ferrellgas did not retrospectively adjust the consolidated statements of operations for those measurement period adjustments.

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, except for Bridger as noted below.

Propane and related equipment sales

During July 2015, Ferrellgas, L.P. acquired the assets of Propane Advantage, LLC, based in Utah, with an aggregate value of $7.7 million.

During fiscal 2014, Ferrellgas, L.P. 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.

These acquisitions, were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments, net of cash acquired	$	4,250	$	34,219	$	37,186
Issuance of liabilities and other costs and considerations	481		2,942		2,035
Common units, net of issuance costs	3,000		1,500		—
Aggregate fair value of transactions	$	7,731	$	38,661	$	39,221



	For the year ended July 31,
	2015		2014			2013
Working capital	233		(919		)	7,302
Customer tanks, buildings, land and other	236		14,519			5,155
Goodwill	—		2,922			4,640
Customer lists	6,569		19,480			12,211
Non-compete agreements	693		2,659			944
Other intangibles	—		—			5,678
Trade names & trademarks	—		—			3,291
Aggregate fair value of net assets acquired	$	7,731	$	38,661		$	39,221

Midstream operations - Water solutions

During fiscal 2015, Ferrellgas, L.P. acquired salt water disposal assets with an aggregate value of $74.7 million in the following transactions, which includes $1.4 million paid in fiscal 2015 as a working capital and valuation adjustment for prior year acquisitions:


•	C&E Production, LLC, based in Texas, acquired September 2014; and


•	Segrest Saltwater Resources, based in Texas, acquired May 2015.

During fiscal 2014, Ferrellgas, L.P. acquired salt water disposal assets with an aggregate value of $130.3 million relating to the midstream - water solutions segment. This included the acquisitions of Sable Environmental, LLC and Sable SWD 2, LLC ("Sable"), based in Corpus Christi, Texas and 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 were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments, net of cash acquired	$	74,677	$	127,785	$	—
Issuance of liabilities and other costs and considerations	—		2,555		—
Aggregate fair value of transactions	$	74,677	$	130,340	$	—

The aggregate fair values, for these acquisitions were allocated as follows:



	For the year ended July 31,
	2015		2014		2013
Working capital	1,155		490		—
Customer tanks, buildings, land and other	1,704		622		—
Salt water disposal wells	10,705		24,288		—
Goodwill	12,359		16,957		—
Customer relationships	38,846		64,000		—
Non-compete agreements	3,639		13,300		—
Permits and favorable lease arrangements	6,269		10,683		—
Aggregate fair value of net assets acquired	$	74,677	$	130,340	$	—

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 was 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.

Midstream operations - Crude oil logistics solutions

On June 24, 2015, Ferrellgas Partners acquired Bridger and formed a new midstream operation - crude oil logistics segment based near Dallas, Texas. Ferrellgas Partners paid $560.0 million of cash, net of cash acquired and issued $260.0 million of Ferrellgas Partners common units to the seller, along with $2.5 million of other seller costs and consideration for an aggregate value of $822.5 million. Ferrellgas Partners then contributed the Bridger assets and liabilities to Ferrellgas, L.P. Ferrellgas, L.P. has incurred and charged to operating expenses, net $16.4 million of costs during the year ended July 31, 2015, related to the acquisition and transition of Bridger.

The aggregate fair value for the Bridger Logistics Acquisition in the midstream operations - crude oil logistics solutions segment was preliminarily allocated as follows:



	For the year ended July 31,
	2015
Working capital	$	1,783
Transportation equipment	293,491
Injection stations and pipelines	41,632
Goodwill	193,311
Customer relationships	261,811
Non-compete agreements	14,800
Trade names & trademarks	5,800
Office equipment	7,449
Other	2,375
Aggregate fair value of net assets acquired	$	822,452

The following amounts from this acquisition were included in the operating results for the year ending July 31, 2015:



	For the year ended July 31,
	2015
Revenue	$	81,512
Operating income	3,848

Pro forma results of operations (unaudited)



	For the year ended July 31,
	2015		2014
Revenue	$	2,319,927	2,583,680
Net earnings	4,504		20,580

The unaudited pro forma consolidated data presented above has also been prepared as if the issuance of senior secured notes in June 2015, which are described in Note H to these consolidated financial statements, had been completed on August 1, 2013.

The estimated fair values and useful lives of assets acquired during fiscal 2015 are based on a preliminary valuation 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 2014 and 2013 are based on internal valuations and included only minor adjustments during the 12 month period after the date of acquisition. Due to the immateriality of these adjustments, Ferrellgas, L.P. did not retrospectively adjust the consolidated statements of operations for those measurement period adjustments.

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

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+ Details

Quarterly Distributions Of Available Cash	12 Months Ended
Quarterly Distributions Of Available Cash	Jul. 31, 2015
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, 2015

Supplemental financial statement information

Inventories consist of the following:



	2015		2014
Propane gas and related products	$	68,731	$	121,111
Appliances, parts and supplies	28,023		24,858
Inventories	$	96,754	$	145,969

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, 2015, Ferrellgas had committed, for supply procurement purposes, to take delivery of approximately 80.5 million gallons of propane at fixed prices.

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



	Estimated useful lives	2015		2014
Land	Indefinite	$	34,389	$	31,890
Land improvements	2-20	13,249		12,812
Buildings and improvements	20	71,923		68,492
Vehicles, including transport trailers	8-20	228,646		95,701
Bulk equipment and district facilities	5-30	111,657		109,739
Tanks, cylinders and customer equipment	2-30	772,904		772,402
Salt water disposal wells and related equipment	2-23	38,460		24,288
Rail cars	30	150,235		—
Injection stations	20	37,619		—
Pipeline	15	4,074		—
Computer and office equipment	2-5	123,386		116,265
Construction in progress	n/a	16,841		7,029
		1,603,383		1,238,618
Less: accumulated depreciation		638,166		626,831
Property, plant and equipment, net		$	965,217	$	611,787

Depreciation expense totaled $61.3 million, $58.3 million and $59.3 million for fiscal 2015, 2014 and 2013, respectively.

Other current liabilities consist of the following:



	2015		2014
Accrued interest	$	17,281	$	12,182
Accrued payroll	17,485		37,120
Customer deposits and advances	28,792		25,412
Price risk management liabilities	31,450		83
Other	85,679		50,364
Other current liabilities	$	180,687	$	125,161

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



	For the year ended July 31,
	2015		2014		2013
Operating expense	$	174,105	$	190,999	$	181,932
Depreciation and amortization expense	5,127		5,829		5,744
Equipment lease expense	22,667		15,807		14,028
	$	201,899	$	212,635	$	201,704

Ferrellgas, L.P. [Member]

Supplemental Financial Statement Information

Supplemental financial statement information

Inventories consist of the following:



	2015		2014
Propane gas and related products	$	68,731	$	121,111
Appliances, parts and supplies	28,023		24,858
Inventories	$	96,754	$	145,969

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, 2015, Ferrellgas, L.P. had committed, for supply procurement purposes, to take delivery of approximately 80.5 million gallons of propane at fixed prices.

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



	Estimated useful lives	2015		2014
Land	Indefinite	$	34,389	$	31,890
Land improvements	2-20	13,249		12,812
Buildings and improvements	20	71,923		68,492
Vehicles, including transport trailers	8-20	228,646		95,701
Bulk equipment and district facilities	5-30	111,657		109,739
Tanks, cylinders and customer equipment	2-30	772,904		772,402
Salt water disposal wells and related equipment	2-23	38,460		24,288
Rail cars	30	150,235		—
Injection stations	20	37,619		—
Pipeline	15	4,074		—
Computer and office equipment	2-5	123,386		116,265
Construction in progress	n/a	16,841		7,029
		1,603,383		1,238,618
Less: accumulated depreciation		638,166		626,831
Property, plant and equipment, net		$	965,217	$	611,787

Depreciation expense totaled $61.3 million, $58.3 million and $59.3 million for fiscal 2015, 2014 and 2013, respectively.

Other current liabilities consist of the following:



	2015		2014
Accrued interest	$	15,275	$	10,176
Accrued payroll	17,485		37,120
Customer deposits and advances	28,792		25,412
Price risk management liabilities	31,450		83
Other	83,174		50,362
Other current liabilities	$	176,176	$	123,153

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



	For the year ended July 31,
	2015		2014		2013
Operating expense	$	174,105	$	190,999	$	181,932
Depreciation and amortization expense	5,127		5,829		5,744
Equipment lease expense	22,667		15,807		14,028
	$	201,899	$	212,635	$	201,704

Accounts And Notes Receivable, Net And Accounts Receivable Securitization

12 Months Ended

Jul. 31, 2015

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:



	2015			2014
Accounts receivable pledged as collateral	$	123,791		$	159,003
Accounts receivable	77,636			24,108
Other	307			247
Less: Allowance for doubtful accounts	(4,816		)	(4,756		)
Accounts and notes receivable, net	$	196,918		$	178,602

Ferrellgas maintains an accounts receivable securitization facility with Wells Fargo Bank, N.A., Fifth Third Bank and SunTrust Bank. This accounts receivable securitization facility has up to $225.0 million of capacity and matures on January 19, 2017. As part of this 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. At July 31, 2015, $123.8 million of trade accounts receivable were pledged as collateral against $70.0 million of collateralized notes payable due to the commercial paper conduit. 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. 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, 2015, Ferrellgas had received cash proceeds of $70.0 million from trade accounts receivables securitized, with no remaining capacity to receive additional proceeds. 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. Borrowings under the accounts receivable securitization facility had a weighted average interest rate of 2.3% and 2.1% as of July 31, 2015 and 2014, 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:



	2015			2014
Accounts receivable pledged as collateral	$	123,791		$	159,003
Accounts receivable	77,636			24,108
Other	307			247
Less: Allowance for doubtful accounts	(4,816		)	(4,756		)
Accounts and notes receivable, net	$	196,918		$	178,602

Ferrellgas, L.P. maintains an accounts receivable securitization facility with Wells Fargo Bank, N.A., Fifth Third Bank and SunTrust Bank. This accounts receivable securitization facility has up to $225.0 million of capacity and matures on January 19, 2017. As part of this 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. At July 31, 2015, $123.8 million of trade accounts receivable were pledged as collateral against $70.0 million of collateralized notes payable due to the commercial paper conduit. 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. 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, 2015, Ferrellgas, L.P. had received cash proceeds of $70.0 million from trade accounts receivables securitized, with no remaining capacity to receive additional proceeds. 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. Borrowings under the accounts receivable securitization facility had a weighted average interest rate of 2.3% and 2.1% as of July 31, 2015 and 2014, 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, 2015

Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:



	July 31, 2015							July 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	478,747	$	—		$	478,747	$	273,210	$	—		$	273,210

Intangible assets, net
Amortized intangible assets
Customer related	$	807,122	$	(349,719	)	$	457,403	$	500,100	$	(322,277	)	$	177,823
Non-compete agreements	53,711		(18,730		)	34,981		63,933		(43,120		)	20,813
Permits and favorable lease arrangements	16,952		(1,173		)	15,779		10,683		(119		)	10,564
Other	9,182		(5,497		)	3,685		9,177		(4,592		)	4,585
	886,967		(375,119		)	511,848		583,893		(370,108		)	213,785

Unamortized intangible assets
Trade names & trademarks	68,195					68,195		62,386					62,386
Total intangible assets, net	$	955,162	$	(375,119	)	$	580,043	$	646,279	$	(370,108	)	$	276,171

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



	Propane and related equipment sales			Midstream operations - water solutions		Midstream operations - crude oil logistics		Total
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
Acquisitions	—			12,359		193,311		205,670
Other	(133		)	—		—		(133		)
Balance July 31, 2015	$	256,120		$	29,316	$	193,311	$	478,747

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 11, 14, six years and five years, respectively.



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2015	$	34,585
2014	23,490
2013	21,725



Estimated amortization expense:
For the year ended July 31,
2016	$	61,788
2017	61,212
2018	57,546
2019	51,297
2020	45,588

Ferrellgas, L.P. [Member]

Goodwill and intangible assets, net

Goodwill and intangible assets, net consist of the following:



	July 31, 2015							July 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	478,747	$	—		$	478,747	$	273,210	$	—		$	273,210

Intangible assets, net
Amortized intangible assets
Customer related	$	807,122	$	(349,719	)	$	457,403	$	500,100	$	(322,277	)	$	177,823
Non-compete agreements	53,711		(18,730		)	34,981		63,933		(43,120		)	20,813
Permits and favorable lease arrangements	16,952		(1,173		)	15,779		10,683		(119		)	10,564
Other	9,182		(5,497		)	3,685		9,177		(4,592		)	4,585
	886,967		(375,119		)	511,848		583,893		(370,108		)	213,785

Unamortized intangible assets
Trade names & trademarks	68,195					68,195		62,386					62,386
Total intangible assets, net	$	955,162	$	(375,119	)	$	580,043	$	646,279	$	(370,108	)	$	276,171

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



	Propane and related equipment sales			Midstream operations - water solutions		Midstream operations - crude oil logistics		Total
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
Acquisitions	—			12,359		193,311		205,670
Other	(133		)	—		—		(133		)
Balance July 31, 2015	$	256,120		$	29,316	$	193,311	$	478,747

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, 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 11, 14, six years and five years, respectively.



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2015	$	34,585
2014	23,490
2013	21,725



Estimated amortization expense:
For the year ended July 31,
2016	$	61,788
2017	61,212
2018	57,546
2019	51,297
2020	45,588

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, 2015

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, 2015 and 2014, $75.3 million and $69.5 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:



	2015		2014
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000	$	500,000
Fixed rate, 6.75%, due 2023 (4)	500,000		—
Fixed rate, 6.75%, due 2022, net of unamortized premium of $4,906 and $5,863 at 2015 and 2014, respectively (3)	479,906		480,863
Fixed rate, 8.625%, due 2020 (2)	182,000		182,000
Fair value adjustments related to interest rate swaps	876		(2,534		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $75.3 million and $69.5 million classified as short-term borrowings at July 31, 2015 and 2014, respectively)	136,081		123,781

Notes payable
9.5% and 8.8% weighted average interest rate at July 31, 2015 and 2014, respectively, due 2015 to 2022, net of unamortized discount of $1,914 and $2,239 at July 31, 2015 and 2014, respectively	9,181		11,727
	1,808,044		1,295,837
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,652		3,623
Long-term debt	$	1,804,392	$	1,292,214

(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.

(4)

During June 2015, Ferrellgas issued $500.0 million in aggregate principal amount of 6.75% senior notes due 2023 at an offering price equal to par. The senior notes bear interest from the date of issuance, payable semi-annually in arrears on June 15 and December 15 of each year. The outstanding principal amount is due on June 15, 2023. Ferrellgas would incur prepayment penalties if it were to repay the notes prior to 2021. Ferrellgas received $491.3 million of net proceeds after deducting underwriters' fees. Ferrellgas used the net proceeds to fund a portion of the cash portion of the consideration for the acquisition of the outstanding membership interests in Bridger Logistics, LLC and its subsidiaries with remaining amounts being used to repay outstanding borrowing under the secured credit facility after the closing of the acquisitions.

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 to better facilitate its strategic focus on further business diversification. Immediately following the amendment, Ferrellgas 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.

During June 2015, Ferrellgas executed a fourth amendment to its secured credit facility to administer certain technical revisions in order to facilitate the Bridger Logistics Acquisition and related funding. This amendment did not change the terms or maturity date of the secured credit facility.

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, 2015, Ferrellgas had total borrowings outstanding under its secured credit facility of $211.4 million, of which $136.1 million was classified as long-term debt. 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.

Borrowings outstanding at July 31, 2015 and 2014 under the secured credit facility had a weighted average interest rate of 3.5% and 3.4%, 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, 2015 and 2014, the margin was 1.50% and 1.25%, 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, 2015 and 2014, the margin was 2.50% and 2.25%, respectively).

As of July 31, 2015, the federal funds rate and Bank of America’s prime rate were 0.14% and 3.25%, 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, 2015, the one-month and three-month Eurodollar Rates were 0.19% and 0.33%, respectively. As of July 31, 2014, the one-month and three-month Eurodollar Rates were 0.17% and 0.24%, 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, 2015 totaled $61.2 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, 2014 totaled $56.3 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. At July 31, 2015, Ferrellgas had available letter of credit remaining capacity of $138.8 million. At July 31, 2014, Ferrellgas had available letter of credit remaining capacity of $143.7 million. Ferrellgas incurred commitment fees of $1.5 million, $1.2 million and $0.9 million in fiscal 2015, 2014 and 2013, respectively.

Interest rate swaps

In 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 received 9.125% and paid 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 also 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 accounts 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. The only restriction that prohibits Ferrellgas, L.P. from making cash distributions, advances or loans of the minimum quarterly distribution is if a default or event of default exists or would exist upon making such distribution, advances or loans, or if Ferrellgas L.P. fails to meet certain coverage tests. As of July 31, 2015, Ferrellgas L.P. is in compliance with all requirements, tests, limitations and covenants related to these debt agreements. At July 31, 2015, Ferrellgas L.P. has no restricted net assets. Other than the senior notes and the credit facility agreement, there are no other agreements which restrict Ferrellgas' subsidiaries ability to transfer funds to Ferrellgas in the form of cash dividends, loans or advances.

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



For the year ending July 31,	Scheduled annual principal payments
2016	$	3,652
2017	3,241
2018	1,719
2019	1,204
2020	136,429
Thereafter	1,657,931
Total	$	1,804,176

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, 2015 and 2014, $75.3 million and $69.5 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:



	2015		2014
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000	$	500,000
Fixed rate, 6.75%, due 2023 (3)	500,000		—
Fixed rate, 6.75%, due 2022, net of unamortized premium of $4,906 and $5,863 at 2015 and 2014, respectively (2)	479,906		480,863
Fair value adjustments related to interest rate swaps	876		(2,534		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $75.3 million and $69.5 million classified as short-term borrowings at July 31, 2015 and 2014, respectively)	136,081		123,781

Notes payable
9.5% and 8.8% weighted average interest rate at July 31, 2015 and 2014, respectively, due 2015 to 2022, net of unamortized discount of $1,914 and $2,239 at July 31, 2015 and 2014, respectively	9,181		11,727
	1,626,044		1,113,837
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,652		3,623
Long-term debt	$	1,622,392	$	1,110,214

(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.

(3)

During June 2015, Ferrellgas, L.P. issued $500.0 million in aggregate principal amount of 6.75% senior notes due 2023 at an offering price equal to par. The senior notes bear interest from the date of issuance, payable semi-annually in arrears on June 15 and December 15 of each year. The outstanding principal amount is due on June 15, 2023. Ferrellgas, L.P. would incur prepayment penalties if it were to repay the notes prior to 2021. Ferrellgas, L.P. received $491.3 million of net proceeds after deducting underwriters' fees. Ferrellgas, L.P. used the net proceeds to fund a portion of the cash portion of the consideration for the acquisition of the outstanding membership interests in Bridger Logistics, LLC and its subsidiaries with remaining amounts being used to repay outstanding borrowing under the secured credit facility after the closing of the acquisitions.

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 to better facilitate its strategic focus on further business diversification. Immediately following the amendment, Ferrellgas, L.P. 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.

During June 2015, Ferrellgas, L.P. executed a fourth amendment to its secured credit facility to administer certain technical revisions in order to facilitate the Bridger Logistics Acquisition and related funding. This amendment did not change the terms or maturity date of the secured credit facility.

As of July 31, 2015, Ferrellgas, L.P. had total borrowings outstanding under its secured credit facility of $211.4 million, of which $136.1 million was classified as long-term debt. 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.


•	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, 2015 and 2014, the margin was 1.50% and 1.25%, 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, 2015 and 2014, the margin was 2.50% and 2.25%, 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, 2015 totaled $61.2 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, 2014 totaled $56.3 million and were used primarily to secure insurance arrangements and to a lesser extent, product purchases. At July 31, 2015, Ferrellgas, L.P. had available letter of credit remaining capacity of $138.8 million. At July 31, 2014 Ferrellgas, L.P. had available letter of credit remaining capacity of $143.7 million. Ferrellgas, L.P. incurred commitment fees of $1.5 million, $1.2 million and $0.9 million in fiscal 2015, 2014 and 2013, 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. Ferrellgas, L.P. received 9.125% and paid 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. Ferrellgas, L.P. receives 6.5% and pays 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. accounts 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. The only restriction that prohibits Ferrellgas, L.P. from making cash distributions, advances or loans of the minimum quarterly distribution is if a default or event of default exists or would exist upon making such distribution, advances or loans, or if Ferrellgas, L.P. fails to meet certain coverage tests. As of July 31, 2015, Ferrellgas, L.P. is in compliance with all requirements, tests, limitations and covenants related to these debt agreements. At July 31, 2015, Ferrellgas, L.P. has no restricted net assets. Other than the senior notes and the credit facility agreement, there are no other agreements which restrict Ferrellgas, L.P.'s subsidiaries ability to transfer funds to Ferrellgas, L.P. in the form of cash dividends, loans or advances.

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



For the year ending July 31,	Scheduled annual principal payments
2016	$	3,652
2017	3,241
2018	1,719
2019	1,204
2020	136,429
Thereafter	1,475,931
Total	$	1,622,176

Partners' Capital

12 Months Ended

Jul. 31, 2015

Partners' Capital

Partners' capital (deficit)

As of July 31, 2015 and 2014, limited partner units were beneficially owned by the following:



	2015	2014
Public common unitholders (1)	63,294,168	55,153,208
Ferrell Companies (2)	22,529,361	21,469,664
FCI Trading Corp. (3)	195,686	195,686
Ferrell Propane, Inc. (4)	51,204	51,204
James E. Ferrell (5)	4,763,475	4,358,475
James H. Ballengee (6)	9,542,895	—


(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 22.4% 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 22.7%.


(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 is the Chairman of the Board of Directors of our general partner and a related party. JEF Capital Management owns 4,758,859 of these common units and is wholly-owned by the James E. Ferrell Revocable Trust Two for which James E. Ferrell is the trustee and sole beneficiary. The remaining 4,616 common units are held by Ferrell Resources Holdings, Inc., which is wholly-owned by the James E. Ferrell Revocable Trust One, for which James E. Ferrell is the trustee and sole beneficiary.

(6)

Jamex Marketing, LLC is the unitholder of record of these common units. Jamex, LLC is the majority member of Jamex Marketing, LLC. Ballengee Interests, LLC is the majority member of Jamex, LLC. James H. Ballengee is the manager of each of Jamex, LLC, Jamex Marketing, LLC and Ballengee Interests, LLC. Jamex Marketing, LLC and Bridger regularly conduct business in their normal operations, and is 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. The Partnership Agreement allows the general partner to issue an unlimited number of additional Ferrellgas general and limited partner interests 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,
	2015		2014		2013
Public common unitholders	$	111,163	$	107,164	$	105,934
Ferrell Companies	45,059		42,939		42,939
FCI Trading Corp.	392		392		392
Ferrell Propane, Inc.	104		104		104
James E. Ferrell	8,717		8,717		8,717
General partner	1,670		1,609		1,596
	$	167,105	$	160,925	$	159,682

On August 20, 2015, Ferrellgas Partners declared a cash distribution of $0.5125 per common unit for the three months ended July 31, 2015, which was paid on September 14, 2015. Included in this cash distribution were the following amounts paid to related parties:



Ferrell Companies	$	11,546
FCI Trading Corp.	100
Ferrell Propane, Inc.	26
James E. Ferrell	2,441
General partner	520
James H. Ballengee	4,890

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

Common unit issuances

During fiscal 2015, in a non-brokered registered direct offering, which units are subject to certain contractual transfer restrictions, Ferrellgas issued to Ferrell Companies, Inc. and the former owners of two salt water disposal wells from C&E Production, LLC ("C&E") and its affiliates 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 borrowing under the secured credit facility used to fund the C&E salt water disposal wells acquisition as well as propane and related equipment sales acquisitions completed in fiscal 2014.

During fiscal 2015, Ferrellgas issued 6.3 million common units in a public offering valued at $139.1 million, after deducting for issuance costs. The net proceeds from this offering were used to partially fund the acquisition of Bridger.

During fiscal 2015, Ferrellgas issued 11.3 million common units valued at $260.0 million in connection with the acquisitions of Bridger and propane distribution assets.

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.

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, 2015 and 2014.

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 2015, the general partner made cash contributions of $13.3 million and non-cash contributions of $1.0 million to Ferrellgas to maintain its effective 2% general partner interest.

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.

Ferrellgas, L.P. [Member]

Partners' Capital

Partners’ capital

Bridger transaction and related distributions and contributions

During June 2015, in connection with the Bridger Logistics Acquisition, Ferrellgas, L.P. entered into the following transactions with Ferrellgas Partners and the general partner:


•	Distributed $418.9 million and $4.3 million in cash to Ferrellgas Partners and the general partner, respectively.


•	Received an asset contribution of $822.5 million from Ferrellgas Partners.


•	In connection with this non-cash contribution, Ferrellgas, L.P. received a cash contribution of $8.4 million from the general partner.

See Note C - Business combinations for details regarding the acquisition of Bridger.

Partnership quarterly distributions paid

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



	For the year ended July 31,
	2015		2014		2013
Ferrellgas Partners	$	182,803	$	176,623	$	175,380
General partner	1,864		1,803		1,790

On August 20, 2015, Ferrellgas, L.P. declared distributions for the three months ended July 31, 2015 to Ferrellgas Partners and the general partner of $52.0 million and $0.5 million, respectively, which were paid on September 14, 2015.

Other partnership contributions

During fiscal 2015, Ferrellgas, L.P. received cash contributions of $42.2 million from Ferrellgas Partners. The proceeds were used to reduce outstanding indebtedness under Ferrellgas, L.P.'s secured credit facility.

During fiscal 2015 and 2014 Ferrellgas, L.P. received asset contributions of $3.0 million and $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 2015, the general partner made cash contributions of $0.4 million and non-cash contributions of $0.5 million to Ferrellgas, L.P. to maintain its 1.0101% general partner interest.

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.

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, 2015

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, 2015 and 2014:



	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, 2015:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	1,828		$	—		$	1,828
Commodity derivatives	$	—	$	4,655		$	—		$	4,655
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,748	)	$	—		$	(4,748	)
Commodity derivatives	$	—	$	(42,375	)	$	—		$	(42,375	)
Contingent consideration	$	—	$	—		$	(100	)	$	(100	)

July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Commodity derivatives	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Commodity derivatives	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

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, 2014	$	6,400
Estimated value at acquisition	—
Increase in fair value related to accretion	400
Change in fair value included in earnings	(6,700		)
Balance at July 31, 2015	$	100

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2015

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

100

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

5% - 80%

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, 2015, 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	$	(10	)	$	—	$	200	$	(100	)

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 acquisition of Sable, is based upon Ferrellgas' 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 Ferrellgas' 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, 2015 and July 31, 2014, the estimated fair value of Ferrellgas’ long-term debt instruments was $1,889.8 million and $1,408.2 million, respectively. Ferrellgas estimates the fair value of long-term debt based on quoted market prices. The fair value of Ferrellgas' 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, 2015 and 2014:



	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, 2015:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	1,828		$	—		$	1,828
Commodity derivatives	$	—	$	4,655		$	—		$	4,655
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,748	)	$	—		$	(4,748	)
Commodity derivatives	$	—	$	(42,375	)	$	—		$	(42,375	)
Contingent consideration	$	—	$	—		$	(100	)	$	(100	)

July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Commodity derivatives	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Commodity derivatives	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)



	Contingent consideration liability
Balance at July 31, 2014	$	6,400
Estimated value at acquisition	—
Increase in fair value related to accretion	400
Change in fair value included in earnings	(6,700		)
Balance at July 31, 2015	$	100

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2015

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

100

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

5% - 80%

N/A

The valuation of the contingent consideration is based on unobservable inputs such as Ferrellgas, L.P.'s weighted average cost of capital and the likelihood of the acquired company meeting earnings thresholds. As of July 31, 2015, 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	$	(10	)	$	—	$	200	$	(100	)

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 Ferrellgas, L.P.'s 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, 2015 and July 31, 2014, the estimated fair value of Ferrellgas, L.P.’s long-term debt instruments was $1,700.5 million and $1,215.3 million, respectively. Ferrellgas, L.P. 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, 2015

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. Of these, the propane commodity derivative instruments are designated as cash flow hedges. All other commodity derivative instruments do not qualify or are not designated as cash flow hedges, therefore, the change in their fair value are recorded currently in earnings. 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 year ended July 31, 2015, Ferrellgas recognized a $0.2 million loss related to hedge ineffectiveness. During the year ended July 31, 2014, 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 the fair value of derivatives within Ferrellgas’ consolidated balance sheets as of July 31, 2015 and 2014:

July 31, 2015

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

3,614

Other current liabilities

27,929

Commodity derivatives

Other assets, net

1,041

Other liabilities

12,034

Interest rate swap agreements

Prepaid expenses and other current assets

1,828

Other current liabilities

2,241

Interest rate swap agreements

Other assets, net

—

Other liabilities

2,507

Derivatives not designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

—

Other current liabilities

1,280

Commodity derivatives

Other assets, net

—

Other liabilities

1,132

Total

6,483

Total

47,123

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

Ferrellgas' exchange traded commodity derivative contracts require cash margin deposit as collateral for contracts that are in a negative mark-to-market position. These cash margin deposits will be returned if mark-to-market conditions improve or will be applied against cash settlement when the contracts are settled. The following tables provide a summary of cash margin deposit balances as of July 31, 2015 and July 31, 2014, respectively:



	July 31, 2015
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	18,009	Other current liabilities	$	15
	Other assets, net	11,786		Other liabilities	—
		$	29,795		$	15


	July 31, 2014
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	156	Other current liabilities	$	—
	Other assets, net	189		Other liabilities	—
		$	345		$	—

The following table provides a summary of the effect on Ferrellgas’ consolidated statements of comprehensive income for the years ended July 31, 2015 and 2014 due to derivatives designated as fair value 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,
		2015		2014		2015			2014
Interest rate swap agreements	Interest expense	$	1,892	$	2,520	$	(9,100	)	$	(11,985	)

The following tables provide a summary of the effect on Ferrellgas’ consolidated statements of comprehensive income for the years ended July 31, 2015 and 2014 due to derivatives designated as cash flow hedging instruments:



	For the year ended July 31, 2015
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	(70,291	)	Cost of product sold- propane and other gas liquids sales	$	(28,059	)
Interest rate swap agreements	(3,356		)	Interest expense	(199		)
	$	(73,647	)		$	(28,258	)



	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	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

The following table provides a summary of the effect on Ferrellgas’ consolidated statements of comprehensive income for the year ended July 31, 2015 due to the change in fair value of derivatives not designated as hedging instruments:

There was no effect on Ferrellgas' consolidated statements of comprehensive income for the year ended July 31, 2014 due to the change in fair value of derivatives not designated as hedging instruments.

The changes in derivatives included in accumulated other comprehensive income (loss) (“AOCI”) for the years ended July 31, 2015, 2014 and 2013 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2015			2014			2013
Beginning balance	$	6,483		$	2,066		$	(12,799	)
Change in value on risk management commodity derivatives	(70,291		)	15,473			2,032
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales, net	28,059			(10,175		)	10,613
Change in value on risk management interest rate derivatives	(3,356		)	(881		)	2,220
Reclassification of gains and losses on interest rate hedges to interest expense	199			—			—
Ending balance	$	(38,906	)	$	6,483		$	2,066

Ferrellgas expects to reclassify net losses of approximately $24.3 million to earnings during the next 12 months. These net losses are expected to be offset by increased 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, 2015 and 2014, 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, 2015, Ferrellgas had financial derivative contracts covering 2.9 million barrels of propane that were entered into as cash flow hedges of forward and forecasted purchases of propane.

As of July 31, 2015, Ferrellgas, L.P. had financial derivative contracts covering 0.3 million barrels of diesel and 0.1 million barrels of unleaded gasoline related to fuel hedges in transportation 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 no loss if these counterparties that make up the concentration failed to perform according to the terms of their contracts at July 31, 2015.

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, 2015, a downgrade in the Partnership’s debt rating could trigger a reduction in credit limit and would result in an additional collateral requirement of $0.4 million. There were $0.4 million of derivatives with credit-risk-related contingent features in a liability position on July 31, 2015 and Ferrellgas L.P. had posted no collateral 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. Of these, the propane commodity derivative instruments are designated as cash flow hedges. All other commodity derivative instruments do not qualify or are not designated as cash flow hedges, therefore, the change in their fair value are recorded currently in earnings. 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 year ended July 31, 2015, Ferrellgas, L.P. recognized a $0.2 million loss related to hedge ineffectiveness. During the year ended July 31, 2014, 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 commodity cash flow hedges.

The following tables provide a summary of the fair value of derivatives within Ferrellgas, L.P.’s consolidated balance sheets as of July 31, 2015 and 2014:

July 31, 2015

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

3,614

Other current liabilities

27,929

Commodity derivatives

Other assets, net

1,041

Other liabilities

12,034

Interest rate swap agreements

Prepaid expenses and other current assets

1,828

Other current liabilities

2,241

Interest rate swap agreements

Other assets, net

—

Other liabilities

2,507

Derivatives not designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

—

Other current liabilities

1,280

Commodity derivatives

Other assets, net

—

Other liabilities

1,132

Total

6,483

Total

47,123

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

Ferrellgas, L.P.'s exchange traded commodity derivative contracts require cash margin deposit as collateral for contracts that are in a negative mark-to-market position. These cash margin deposits will be returned if mark-to-market conditions improve or will be applied against cash settlement when the contracts are settled. The following tables provide a summary of cash margin deposit balances as of July 31, 2015 and July 31, 2014, respectively:



	July 31, 2015
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	18,009	Other current liabilities	$	15
	Other assets, net	11,786		Other liabilities	—
		$	29,795		$	15

	July 31, 2014
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	156	Other current liabilities	$	—
	Other assets, net	189		Other liabilities	—
		$	345		$	—

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, 2015 and 2014 due to derivatives designated as fair value 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,
		2015		2014		2015			2014
Interest rate swap agreements	Interest expense	$	1,892	$	2,520	$	(9,100	)	$	(11,985	)

The following tables provide a summary of the effect on Ferrellgas, L.P.'s consolidated statements of comprehensive income for the years ended July 31, 2015 and 2014 due to derivatives designated as cash flow hedging instruments:



	For the year ended July 31, 2015
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	(70,291	)	Cost of product sold- propane and other gas liquids sales	$	(28,059	)
Interest rate swap agreements	(3,356		)	Interest expense	(199		)
	$	(73,647	)		$	(28,258	)


	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	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

The following table provides a summary of the effect on Ferrellgas, L.P.'s consolidated statements of comprehensive income for the year ended July 31, 2015 due to the change in fair value of derivatives not designated as hedging instruments:

There was no effect on Ferrellgas, L.P.'s consolidated statements of comprehensive income for the year ended July 31, 2014 due to the change in fair value of derivatives not designated as hedging instruments.

The changes in derivatives included in accumulated other comprehensive income (loss) (“AOCI”) for the years ended July 31, 2015, 2014 and 2013 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2015			2014			2013
Beginning balance	$	6,483		$	2,066		$	(12,799	)
Change in value on risk management commodity derivatives	(70,291		)	15,473			2,032
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales, net	28,059			(10,175		)	10,613
Change in value on risk management interest rate derivatives	(3,356		)	(881		)	2,220
Reclassification of gains and losses on interest rate hedges to interest expense	$	199		$	—		$	—
Ending balance	$	(38,906	)	$	6,483		$	2,066

Ferrellgas, L.P. expects to reclassify net losses of approximately $24.3 million to earnings during the next 12 months. These net losses are expected to be offset by increased 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, 2015 and 2014, 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, 2015, Ferrellgas, L.P. had financial derivative contracts covering 2.9 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. is exposed to credit loss in the event of nonperformance by counterparties to derivative financial and commodity instruments. Ferrellgas, L.P.’s counterparties principally consist of major energy companies and major U.S. financial institutions. Ferrellgas, L.P. 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, L.P. in the forms of letters of credit, parental guarantees or cash. Although Ferrellgas, L.P. 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, L.P. would incur no loss if these counterparties that make up the concentration failed to perform according to the terms of their contracts at July 31, 2015.

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, 2015, a downgrade in the Partnership’s debt rating could trigger a reduction in credit limit and would result in an additional collateral requirement of $0.4 million. There were $0.4 million of derivatives with credit-risk-related contingent features in a liability position on July 31, 2015 and Ferrellgas, L.P. had posted no 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.

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+ Details

Transactions With Related Parties

12 Months Ended

Jul. 31, 2015

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,
	2015		2014		2013
Operating expense	$	217,742	$	216,657	$	203,859

General and administrative expense	$	27,278	$	32,119	$	30,053

In connection with the closing of the Bridger Logistics acquisition, Ferrellgas issued common units to Bridger Marketing, LLC (now known as Jamex Marketing, LLC) and entered into a ten-year transportation and logistics agreement (the "TLA") with Jamex Marketing, LLC. As a result of that issuance, Jamex Marketing, LLC owns 9.5% of Ferrellgas Partners' limited partners' interest. Jamex Marketing, LLC, in connection with the TLA, enters into transactions with the operating partnership and its subsidiaries. Bridger provides crude oil logistics services for Jamex Marketing, LLC, including the purchase, sale, transportation and storage of crude oil by truck, terminal and pipeline. During fiscal 2015, Ferrellgas' total revenues and cost of sales from these transactions were $9.4 million and $8.4 million, respectively. The amounts due from and due to Jamex Marketing, LLC at July 31, 2015, were $4.8 million and $4.2 million, respectively.

See additional discussions about transactions with the general partner and related parties in Note I – Partners’ capital (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,
	2015		2014		2013
Operating expense	$	217,742	$	216,657	$	203,859

General and administrative expense	$	27,278	$	32,119	$	30,053

In connection with the closing of the Bridger Logistics acquisition, Ferrellgas Partners issued common units to Bridger Marketing, LLC (now known as Jamex Marketing, LLC) and entered into a ten-year transportation and logistics agreement (the "TLA") with Jamex Marketing, LLC. As a result of that issuance, Jamex Marketing, LLC owns 9.5% of our outstanding common units; however, neither Jamex Marketing, LLC nor any of its affiliates has any interest in our general partner or its board of directors or any control of our business or policies. Jamex Marketing, LLC, in connection with the TLA, enters into transactions with the operating partnership and its subsidiaries. Bridger provides crude oil logistics services for Jamex Marketing, LLC, including the purchase, sale, transportation and storage of crude oil by truck, terminal and pipeline. During fiscal 2015, Ferrellgas, L.P.'s total revenues and cost of sales from these transactions were $9.4 million and $8.4 million, respectively. The amounts due from and to Jamex Marketing at July 31, 2015, were $4.8 million and $4.2 million, respectively.

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, 2015

Contingencies and commitments

Litigation

Ferrellgas’ 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 and crude oil. As a result, at any given time, Ferrellgas can be 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.

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 did not seek monetary remedies. Ferrellgas reached a settlement with the FTC during the three months ended October 31, 2014 without any financial payment; the settlement has been approved by a vote of the Commission and became final after a public comment period.

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 Ferrellgas' 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. These lawsuits have been consolidated into one case by a multidistrict litigation panel. Ferrellgas believes it has strong defenses to the claims and intends to vigorously defend against the consolidated case. Ferrellgas does not believe loss is probable or reasonably estimable at this time related to the putative class action lawsuit.

In addition, putative class action cases have been filed in California relating to residual propane remaining in the tank after use. Ferrellgas believes it has strong defenses to the claims and intends to vigorously defend against the consolidated case. Ferrellgas does not believe loss is probable or reasonably estimable at this time related to the putative class action lawsuit.

Ferrellgas was 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 alleged 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 recently prevailed in a trial to determine whether the claims were required to be arbitrated, resulting in a dismissal of this case. There is no probable or reasonably estimable loss relating to this matter.

As of July 31, 2015, Bridger and Murex, LLC were arbitrating a dispute with respect to a sublease of approximately 220 rail cars by Bridger, which arbitration arose out of an action between Bridger and Murex in the 116th Judicial District Court of Dallas County, Texas, originally brought in April 2014. In August 2015, Ferrellgas and Murex settled all claims subject to such dispute, with Ferrellgas paying $10.4 million to Murex in such settlement. The liability was considered in Ferrellgas' acquisition method of accounting for Bridger.

Long-term debt-related commitments

Ferrellgas has long and short-term payment obligations under agreements such as senior notes and its secured 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 $1.5 million as of July 31, 2015. 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 $7.0 million as of July 31, 2015. 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, 2015:



	Future minimum rental and buyout amounts by fiscal year
	2016		2017		2018		2019		2020		Thereafter
Operating lease obligations	$	39,999	$	31,497	$	25,599	$	20,084	$	14,402	$	16,078

Operating lease buyouts	$	2,738	$	1,816	$	3,217	$	3,011	$	2,693	$	9,355

Certain property and equipment is leased under non-cancelable operating leases, which require fixed monthly rental payments and which expire at various dates through 2026. Rental expense under these leases totaled $45.0 million, $35.6 million and $32.2 million for fiscal 2015, 2014 and 2013, 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, 2015, 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 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 and crude oil. As a result, at any given time, Ferrellgas, L.P. can be 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..

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 did not seek monetary remedies. Ferrellgas, L.P. reached a settlement with the FTC during the three months ended October 31, 2014 without any financial payment; the settlement has been approved by a vote of the Commission and became final after a public comment period.

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 Ferrellgas, L.P.'s 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. These lawsuits have been consolidated into one case by a multidistrict litigation panel. Ferrellgas, L.P. believes it has strong defenses to the claims and intends to vigorously defend against the consolidated case. Ferrellgas, L.P. does not believe loss is probable or reasonably estimable at this time related to the putative class action lawsuit.

In addition, putative class action cases have been filed in California relating to residual propane remaining in the tank after use. Ferrellgas, L.P. believes it has strong defenses to the claims and intends to vigorously defend against the consolidated case. Ferrellgas, L.P. does not believe loss is probable or reasonably estimable at this time related to the putative class action lawsuit.

Ferrellgas, L.P. was 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 alleged 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. recently prevailed in a trial to determine whether the claims were required to be arbitrated, resulting in a dismissal of this case. There is no probable or reasonably estimable loss relating to this matter.

As of July 31, 2015, Bridger and Murex, LLC were arbitrating a dispute with respect to a sublease of approximately 220 rail cars by Bridger, which arbitration arose out of an action between Bridger and Murex in the 116th Judicial District Court of Dallas County, Texas, originally brought in April 2014. In August 2015, Ferrellgas, L.P. and Murex settled all claims subject to such dispute, with Ferrellgas, L.P. paying $10.4 million to Murex in such settlement. The liability was considered in Ferrellgas, L.P.'s acquisition method of accounting for Bridger.

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 $1.5 million as of July 31, 2015. 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 $7.0 million as of July 31, 2015. 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, 2015:



	Future minimum rental and buyout amounts by fiscal year
	2016		2017		2018		2019		2020		Thereafter
Operating lease obligations	$	39,999	$	31,497	$	25,599	$	20,084	$	14,402	$	16,078

Operating lease buyouts	$	2,738	$	1,816	$	3,217	$	3,011	$	2,693	$	9,355

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, 2015, 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, 2015
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 $24.7 million, $21.8 million and $15.8 million during fiscal 2015, 2014 and 2013, 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 2015, 2014 and 2013 were $3.9 million, $3.6 million and $3.0 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 2015, 2014 and 2013, other comprehensive income and other liabilities were adjusted by $(0.2) million, $0.3 million and $0.3 million, 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 $24.7 million, $21.8 million and $15.8 million during fiscal 2015, 2014 and 2013, 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 2015, 2014 and 2013 were $3.9 million, $3.6 million and $3.0 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 2015, 2014 and 2013, other comprehensive income and other liabilities were adjusted by $(0.2) million, $0.3 million and $0.3 million, respectively.

Net Earnings (Loss) Per Common Unitholders' Interest

12 Months Ended

Jul. 31, 2015

Earnings Per Share [Abstract]

Net earnings 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 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 per common unitholders’ interest for fiscal 2015, 2014 and 2013.

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.



	For the year ended July 31,
	2015		2014		2013
Common unitholders’ interest in net earnings	$	29,324	$	32,879	$	55,862

Weighted average common units outstanding (in thousands)	84,646.2		79,651.1		79,038.6

Dilutive securities	6.7		20.6		37.0

Weighted average common units outstanding plus dilutive securities	84,652.9		79,671.7		79,075.6

Basic and diluted net earnings per common unitholders’ interest	$	0.35	$	0.41	$	0.71

Segment Reporting Disclosure

The entire disclosure for earnings per share.

+ References+ Details

Segment Reporting Segment Reporting

12 Months Ended

Jul. 31, 2015

Segment reporting

Ferrellgas has two primary operations: propane and related equipment sales and midstream operations. These two operations result in three reportable operating segments: propane and related equipment sales, midstream operations - water solutions and midstream operations - crude oil logistics.

During June 2015, subsequent to an acquisition, Ferrellgas formed a new midstream operation - crude oil logistics segment. During May 2014, subsequent to an acquisition, Ferrellgas formed a new midstream operation - water solutions segment.

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-based compensation charge, loss on disposal of assets, other income (expense), net, change in fair value of contingent consideration, litigation accrual and related legal fees associated with a class action lawsuit, acquisition and transition expenses, unrealized (non-cash) gain on changes in fair value of derivatives not designated as hedging instruments and net earnings 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 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.

The midstream operations - crude oil logistics segment primarily includes a domestic crude oil transportation and logistics provider with an integrated portfolio of midstream assets. These assets connect crude oil production in prolific unconventional resource plays to downstream markets. Bridger’s truck, pipeline terminal, pipeline, rail and maritime assets form a comprehensive, fee-for-service business model, and substantially all of its cash flow is expected to be generated from fee-based commercial agreements. Bridger’s fee-based business model generates income by providing crude oil transportation and logistics services on behalf of producers and end users of crude oil.

The midstream operations - water solutions segment primarily includes salt water disposal wells that 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. Production water is salt water from underground formations that are brought to the surface during the normal course of oil or gas production. In the oil and gas fields Ferrellgas services, 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 three reportable segment structure is the result of both the Bridger Logistics Acquisition completed in June 2015 and the Sable acquisition completed during May 2014, comparative historical segment information for fiscal 2013 does not exist.

Following is a summary of segment information for the years ended July 31, 2015 and 2014.



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		Corporate and other			Total



Segment revenues	$	1,917,201	$	81,512	$	25,677	$	—		$	2,024,390
Direct costs (1)		1,591,404		72,929		20,141		39,732			1,724,206
Adjusted EBITDA	$	325,797	$	8,583	$	5,536	$	(39,732	)	$	300,184


	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		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 sales-propane and other gas liquids sales", "cost of sales-other", "cost of sales-midstream operations", "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", "acquisition and transition expenses" and "unrealized (non-cash) loss on changes in fair value of derivatives not designated as hedging instruments".

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



	Year Ended July 31,
	2015			2014

Net earnings attributable to Ferrellgas Partners, L.P.	$	29,620		$	33,211
Income tax expense (benefit)		(315	)		2,516
Interest expense		100,396			86,502
Depreciation and amortization expense		98,579			84,202
EBITDA		228,280			206,431
Loss on extinguishment of debt		—			21,202
Non-cash employee stock ownership plan compensation charge		24,713			21,789
Non-cash stock-based compensation charge		25,982			24,508
Loss on disposal of assets		7,099			6,486
Other expense, net		350			479
Change in fair value of contingent consideration		(6,300	)		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		806			1,749
Acquisition and transition expenses		16,373			—
Unrealized (non-cash) loss on changes in fair value of derivatives not designated as hedging instruments		2,412			—
Net earnings attributable to noncontrolling interest		469			504
Adjusted EBITDA	$	300,184		$	288,148

Following are total assets by segment:



	July 31,		July 31,
	2015		2014

Assets
Propane and related equipment sales	$	1,295,831	$	1,400,603
Midstream operations - crude oil logistics		917,325		—
Midstream operations - water solutions		205,358		136,116
Corporate and unallocated		45,542		35,551
Total consolidated assets	$	2,464,056	$	1,572,270

Following are capital expenditures by segment (unaudited):



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate and other		Total



Capital expenditures:
Maintenance	$	16,020	$	—	$	1,072	$	2,357	$	19,449
Growth		36,958		64		13,366		—		50,388
Total	$	52,978	$	64	$	14,438	$	2,357	$	69,837

	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate & other		Total



Capital expenditures:
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

Ferrellgas, L.P. has two primary operations: propane and related equipment sales and midstream operations. These two operations result in three reportable operating segments: propane and related equipment sales, midstream operations - water solutions and midstream operations - crude oil logistics.

During June 2015, subsequent to an acquisition, Ferrellgas, L.P. formed a new midstream operation - crude oil logistics segment. During May 2014, subsequent to an acquisition, Ferrellgas, L.P. formed a new midstream operation - water solutions segment.

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-based compensation charge, loss on disposal of assets, other income (expense), net, change in fair value of contingent consideration, litigation accrual and related legal fees associated with a class action lawsuit, acquisition and transition expenses and unrealized (non-cash) gain on changes in fair value of derivatives not designated as hedging instruments. 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, 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.

The midstream operations - crude oil logistics segment primarily includes a domestic crude oil transportation and logistics provider with an integrated portfolio of midstream assets. These assets connect crude oil production in prolific unconventional resource plays to downstream markets. Bridger's truck, pipeline terminal, pipeline, rail and maritime assets form a comprehensive, fee-for-service business model, and substantially all of its cash flow is expected to be generated from fee-based commercial agreements. Bridger's fee-based business model generates income by providing crude oil transportation and logistics services on behalf of producers and end users of crude oil.

The midstream operations - water solutions segment primarily includes salt water disposal wells that 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. Production water is salt water from underground formations that are brought to the surface during the normal course of oil or gas production. In the oil and gas fields Ferrellgas, L.P. services, 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, L.P. managed and evaluated its operations as a single reportable segment. As the current three reportable segment structure is the result of both the Bridger Logistics Acquisition completed in June 2015 and the Sable acquisition completed during May 2014, comparative historical segment information for fiscal 2013 does not exist.

Following is a summary of segment information for the years ended July 31, 2015 and 2014.



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		Corporate and other			Total



Segment revenues	$	1,917,201	$	81,512	$	25,677	$	—		$	2,024,390
Direct costs (1)		1,591,300		72,929		20,141		39,732			1,724,102
Adjusted EBITDA	$	325,901	$	8,583	$	5,536	$	(39,732	)	$	300,288

	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		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 Ferrellgas, L.P.'s total segment performance measure to consolidated net earnings:



	Year Ended July 31,
	2015			2014

Net earnings	$	46,427		$	49,907
Income tax expense (benefit)		(384	)		2,471
Interest expense		84,227			70,332
Depreciation and amortization expense		98,579			84,202
EBITDA		228,849			206,912
Loss on extinguishment of debt		—			21,202
Non-cash employee stock ownership plan compensation charge		24,713			21,789
Non-cash stock and unit-based compensation charge		25,982			24,508
Loss on disposal of assets		7,099			6,486
Other expense, net		354			479
Change in fair value of contingent consideration		(6,300	)		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		806			1,749
Acquisition and transition expenses		16,373			—
Unrealized (non-cash) loss on changes in fair value of derivatives not designated as hedging instruments		2,412			—
Adjusted EBITDA	$	300,288		$	288,125

Following are total assets by segment:



	July 31,		July 31,
	2015		2014

Assets
Propane and related equipment sales	$	1,291,737	$	1,400,603
Midstream operations - crude oil logistics		917,325		—
Midstream operations - water solutions		205,358		136,116
Corporate and unallocated		45,542		33,114
Total consolidated assets	$	2,459,962	$	1,569,833

Following are capital expenditures by segment (unaudited):



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate and other		Total



Capital expenditures:
Maintenance	$	16,020	$	—	$	1,072	$	2,357	$	19,449
Growth		36,958		64		13,366		—		50,388
Total	$	52,978	$	64	$	14,438	$	2,357	$	69,837

	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate & other			Total



Capital expenditures:
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.

+ References

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+ Details

Quarterly Data (Unaudited)

12 Months Ended

Jul. 31, 2015

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 business, 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, 2015	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	443,355		$	665,973	$	532,551	$	382,511
Gross margin from propane and other gas liquids sales (a)	129,547			230,175		191,983		128,087
Gross margin from midstream operations (b)	5,948			4,934		3,416		16,301
Net earnings (loss)	(33,169		)	86,371		36,220		(59,333		)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(32,875		)	85,458		35,812		(58,775		)
Common unitholders’ interest in net earnings (loss)	(32,546		)	84,603		35,454		(58,187		)

Basic and diluted net earnings (loss) per common unitholders’ interest	$	(0.40	)	$	0.89	$	0.43	$	(0.64	)


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
Gross margin from midstream operations (b)	—			—		—		5,465
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	)


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


(b)	Gross margin from "Midstream operations" represents "Revenues - midstream operations" less "Cost of sales - midstream operations."

Ferrellgas, L.P. [Member]

Quarterly Data

Quarterly data (unaudited)



For the year ended July 31, 2015	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	443,355		$	665,973	$	532,551	$	382,511
Gross margin from propane and other gas liquids sales (a)	129,547			230,175		191,983		128,087
Gross margin from midstream operations (b)	$	5,948		$	4,934	$	3,416	$	16,301
Net earnings (loss)	$	(29,137	)	$	90,409	$	40,404	$	(55,249	)

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
Gross margin from midstream operations (b)	$	—		$	—	$	—	$	5,465
Net earnings (loss)	$	(21,138	)	$	65,171	$	50,053	$	(44,179	)


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


(b)	Gross margin from "Midstream operations" represents "Revenues - midstream operations" less "Cost of sales - midstream operations."

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, 2015
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 $6,588 associated with the net operating loss carryforward of $16,936, which expire at various dates through July 31, 2035, 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 2015, 2014 or 2013, and there is no net deferred tax asset as of July 31, 2015 and 2014.
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 $20,701 associated with the net operating loss carryforward of $53,217, which expires at various dates through July 31, 2035, 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 2015, 2014 or 2013, and there is no net deferred tax asset as of July 31, 2015 and 2014.

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.

+ References+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Jul. 31, 2015
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 there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements.
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 there were no events or transactions occurring during this period that required recognition or disclosure in its financial statements.
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, 2015

Parent Company [Member]



				Schedule 1
FERRELLGAS PARTNERS, L.P.
PARENT ONLY
BALANCE SHEETS
(in thousands, except unit data)
	July 31,
	2015			2014
ASSETS

Cash and cash equivalents	$	2,052		$	6
Prepaid expenses and other current assets	74			—
Investment in Ferrellgas, L.P.	386,171			69,205
Other assets, net	1,968			2,439
Total assets	$	390,265		$	71,650

LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)

Other current liabilities	$	4,511		$	2,016
Long-term debt	182,000			182,000

Partners' capital (deficit)
Common unitholders (100,376,789 and 81,228,237 units outstanding at 2015 and 2014, respectively)	299,730			(57,893		)
General partner (1,013,907 and 820,487 units outstanding at 2015 and 2014, respectively)	(57,042		)	(60,654		)
Accumulated other comprehensive income (loss)	(38,934		)	6,181
Total Ferrellgas Partners, L.P. partners' capital (deficit)	203,754			(112,366		)
Total liabilities and partners' capital (deficit)	$	390,265		$	71,650



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF EARNINGS
(in thousands)
	For the year ended July 31,
	2015			2014			2013
Equity in earnings of Ferrellgas, L.P.	$	45,958		$	49,403		$	72,634
Operating expense	104			23			(20		)

Operating income	45,854			49,426			72,614

Interest expense	(16,169		)	(16,170		)	(16,171		)
Income tax expense	(69		)	(45		)	(17		)
Other income	4			0			0
Net earnings	$	29,620		$	33,211		$	56,426



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF CASH FLOWS
(in thousands)
	For the year ended July 31,
	2015			2014			2013
Cash flows from operating activities:
Net earnings attributable to Ferrellgas Partners, L.P.	$	29,620		$	33,211		$	56,426
Reconciliation of net earnings to net cash used in operating activities:
Other	2,922			426			383
Equity in earnings of Ferrellgas, L.P.	(45,958		)	(49,403		)	(72,634		)
Net cash used in operating activities	(13,416		)	(15,766		)	(15,825		)

Cash flows from investing activities:
Business acquisitions, net of cash acquired	(562,500		)	—			—
Distributions received from Ferrellgas, L.P.	601,736			176,623			175,380
Cash contributed to Ferrellgas, L.P.	(42,224		)	(51,105		)	(800		)
Net cash provided by (used in) investing activities	(2,988		)	125,518			174,580

Cash flows from financing activities:
Distributions paid to common and general partner unitholders	(167,105		)	(160,925		)	(159,682		)
Cash paid for financing costs	—			(94		)	—
Issuance of common units (net of issuance costs of $648, $0, and $0 for the years ended July 31, 2015, 2014, and 2013	181,008			50,000			—
Proceeds from exercise of common unit options	91			605			864
Cash contribution from general partners in connection with common unit issuances	4,456			511			9
Net cash provided by (used in) financing activities	18,450			(109,903		)	(158,809		)

Increase (decrease) in cash and cash equivalents	2,046			(151		)	(54		)
Cash and cash equivalents - beginning of year	6			157			211
Cash and cash equivalents - end of year	$	2,052		$	6		$	157

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, 2015



									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, 2015

Allowance for doubtful accounts	$	4,756	$	3,419	$	(3,359	)	(1)	$	4,816

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


(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, 2015

Allowance for doubtful accounts	$	4,756	$	3,419	$	(3,359	)	(1)	$	4,816

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


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

Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Jul. 31, 2015

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-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,
	2015		2014		2013
CASH PAID FOR:
Interest	$	91,783	$	90,820	$	84,030
Income taxes	$	712	$	816	$	550
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common units in connection with acquisitions	$	262,952	$	1,500	$	—
Liabilities incurred in connection with acquisitions	$	481	$	4,312	$	2,035
Change in accruals for property, plant and equipment additions	$	498	$	978	$	533

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 five reporting units for goodwill impairment testing purposes. Four 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, Products and Midstream operations - water solutions reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2015. Goodwill associated with the Midstream operations - crude oil logistics reporting unit is a result of the acquisition of Bridger on June 24, 2015.

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 and Transportation Fuel Price Risk.

Interest Rate Risk.

Revenue recognition

Revenue recognition: Revenues from Ferrellgas' 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 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 sales: “Cost of sales – 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 sales - midstream operations" includes all costs incurred to purchase and transport crude oil, including the costs of terminaling and transporting crude oil prior to delivery to customers and transportation cost related to the processing and disposal of salt water. “Cost of sales – other” primarily includes costs related to the sale of propane appliances and equipment.

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. Within midstream operations, "Operating expense" includes plant, office, selling, marketing, credit and collections and other expense.

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 plans:

Ferrell Companies, Inc. Incentive Compensation Plans (“ICPs”)

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,
	2015			2014		2013
Current expense (benefit)	$	(585	)	$	2,428	$	1,722
Deferred expense	270			88		133
Income tax expense (benefit)	$	(315	)	$	2,516	$	1,855

Deferred taxes consisted of the following:



	July 31,
	2015			2014
Deferred tax assets	$	724		$	1,152
Deferred tax liabilities	(4,157		)	(4,313		)
Net deferred tax liability	$	(3,433	)	$	(3,161	)

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 per common unitholders’ interest: Net earnings per common unitholders’ interest is computed by dividing “Net earnings 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 per common unitholders’ interest – for further discussion about these calculations.

Loss Contingencies

Loss contingencies: In the normal course of business, Ferrellgas is involved in various claims and legal proceedings. Ferrellgas records a liability for such matters when it is probable that a loss has been incurred and the amounts can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. Legal costs associated with these loss contingencies are expensed as incurred.

New accounting standards

New accounting standards:

Financial Accounting Standards Board ("FASB") Accounting Standard Update ("ASU") No. 2011-08

FASB Accounting Standard Update No. 2012-02

FASB Accounting Standard Update No. 2014-09

FASB Accounting Standard Update No. 2014-08

FASB Accounting Standard Update No. 2015-02

FASB Accounting Standard Update No. 2015-03

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: Bridger Logistics, LLC, 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,
	2015		2014		2013
CASH PAID FOR:
Interest	$	76,085	$	75,121	$	68,334
Income taxes	$	643	$	771	$	534
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets contributed from Ferrellgas Partners in connection with acquisitions	$	825,452	$	1,500	$	—
Liabilities incurred in connection with acquisitions	$	481	$	4,312	$	2,035
Change in accruals for property, plant and equipment additions	$	498	$	978	$	533

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 five reporting units for goodwill impairment testing purposes. Four 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, Products and Midstream operations - water solutions reporting units and believes that estimated fair values exceed the carrying values of its reporting units as of January 31, 2015. Goodwill associated with the Midstream operations - crude oil logistics reporting unit is a result of the acquisition of Bridger on June 24, 2015.

As a result of the significant drop in the price of crude oil and its impact on the results of Midstream operations - water solutions reporting unit during the second half of fiscal 2015, Ferrellgas, L.P. considered whether the carrying value of this reporting unit no longer exceeded the fair value. Upon applying the fair-value-based test as described above for purposes of the annual impairment test, Ferrellgas, L.P. concluded that there was no impairment of the Midstream operations - water solutions reporting unit as of July 31, 2015. As of July 31, 2015, Ferrellgas, L.P. determined that this reporting unit had an estimated fair value in excess of its respective carrying value of approximately 10%.

This test primarily consists of a discounted future cash flow model to estimate fair value. The cash flow model includes the following critical assumptions: (1) the NYMEX West Texas Intermediate (“WTI”) crude oil curve as of July 31, 2015 was used to predict future oil prices; (2) the oil skimming rate is expected to correlate to the NYMEX WTI crude oil curve consistent with Ferrellgas, L.P.’s past history; (3) a terminal period growth rate equal to the expected rate of inflation; and (4) certain organic growth projects will increase the salt water volumes processed as a result of new drilling activity in the Eagle Ford shale region of Texas that are expected to occur as the price of WTI crude oil increases. Ferrellgas, L.P. believes that the results of this business are closely tied to the price of WTI crude oil and, therefore, if any of these assumptions are not sustained or are not sustained in a timely manner, the Midstream operations - water solutions reporting unit could incur material impairments. In addition to these critical cash flow assumptions, a discount rate of 11.1% was applied to the projected cash flows. A 5% increase, resulting in a discount rate equal to 11.7%, could cause Ferrellgas, L.P. to fail step one of the goodwill impairment test. If this reporting unit fails step one in the future, we would be required to perform step two of the goodwill impairment test. If we perform step two, up to $29.3 million of goodwill assigned to this reporting unit could be written off in the period that the impairment is triggered.

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

Derivative instruments and hedging activities:

Commodity and Transportation Fuel Price Risk.

Interest Rate Risk.

Revenue recognition

Revenue recognition: Revenues from Ferrellgas, L.P.'s 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, L.P. determines accounts receivable allowances based on management’s assessment of the creditworthiness of the customers and other collection actions. Ferrellgas, L.P. 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 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 sales: “Cost of sales – 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 sales - midstream operations" includes all costs incurred to purchase and transport crude oil, including the costs of terminaling and transporting crude oil prior to delivery to customers and transportation cost related to the processing and disposal of salt water. “Cost of sales – other” primarily includes costs related to the sale of propane appliances and equipment.

Operating expenses

General and administrative expenses

Stock-based and unit option plans

Stock-based plans:

Ferrell Companies, Inc. Incentive Compensation Plans (“ICPs”)

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,
	2015			2014		2013
Current expense (benefit)	$	(654	)	$	2,383	$	1,705
Deferred expense	270			88		133
Income tax expense	$	(384	)	$	2,471	$	1,838

Deferred taxes consisted of the following:



	July 31,
	2015			2014
Deferred tax assets	$	724		$	1,152
Deferred tax liabilities	(4,157		)	(4,313		)
Net deferred tax liability	$	(3,433	)	$	(3,161	)

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.

Loss Contingencies

Loss contingencies: In the normal course of business, Ferrellgas, L.P. is involved in various claims and legal proceedings. Ferrellgas, L.P. records a liability for such matters when it is probable that a loss has been incurred and the amounts can be reasonably estimated. When only a range of possible loss can be established, the most probable amount in the range is accrued. If no amount within this range is a better estimate than any other amount within the range, the minimum amount in the range is accrued. Legal costs associated with these loss contingencies are expensed as incurred.

New accounting standards

New accounting standards:

Financial Accounting Standards Board ("FASB") Accounting Standard Update ("ASU") 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, 2018, 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 the 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 Ferrellgas, L.P.'s 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. does not expect the adoption of ASU 2014-08 to have a material impact on the consolidated financial statements.

FASB Accounting Standard Update No. 2015-02

FASB Accounting Standard Update No. 2015-03

In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying value of the debt liability. ASU 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015, with early adoption permitted, and retrospective application required. Ferrellgas, L.P. is currently evaluating the impact of our pending adoption of ASU 2015-03 on the consolidated financial statements.

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jul. 31, 2015

Significant Cash And Non-Cash Activities

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



	For the year ended July 31,
	2015		2014		2013
CASH PAID FOR:
Interest	$	91,783	$	90,820	$	84,030
Income taxes	$	712	$	816	$	550
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of common units in connection with acquisitions	$	262,952	$	1,500	$	—
Liabilities incurred in connection with acquisitions	$	481	$	4,312	$	2,035
Change in accruals for property, plant and equipment additions	$	498	$	978	$	533

Summary Of Income Tax Expense

Income tax expense consisted of the following:



	For the year ended July 31,
	2015			2014		2013
Current expense (benefit)	$	(585	)	$	2,428	$	1,722
Deferred expense	270			88		133
Income tax expense (benefit)	$	(315	)	$	2,516	$	1,855

Deferred Tax Assets And Liabilities

Deferred taxes consisted of the following:



	July 31,
	2015			2014
Deferred tax assets	$	724		$	1,152
Deferred tax liabilities	(4,157		)	(4,313		)
Net deferred tax liability	$	(3,433	)	$	(3,161	)

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,
	2015		2014		2013
CASH PAID FOR:
Interest	$	76,085	$	75,121	$	68,334
Income taxes	$	643	$	771	$	534
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Assets contributed from Ferrellgas Partners in connection with acquisitions	$	825,452	$	1,500	$	—
Liabilities incurred in connection with acquisitions	$	481	$	4,312	$	2,035
Change in accruals for property, plant and equipment additions	$	498	$	978	$	533

Summary Of Income Tax Expense

Income tax expense consisted of the following:



	For the year ended July 31,
	2015			2014		2013
Current expense (benefit)	$	(654	)	$	2,383	$	1,705
Deferred expense	270			88		133
Income tax expense	$	(384	)	$	2,471	$	1,838

Deferred Tax Assets And Liabilities

Deferred taxes consisted of the following:



	July 31,
	2015			2014
Deferred tax assets	$	724		$	1,152
Deferred tax liabilities	(4,157		)	(4,313		)
Net deferred tax liability	$	(3,433	)	$	(3,161	)

Business Combinations (Tables)

12 Months Ended

Jul. 31, 2015

Business Acquired, Income Statement Impact

The following amounts from this acquisition were included in the operating results for the year ending July 31, 2015:



	For the year ended July 31,
	2015
Revenue	$	81,512
Operating income	3,848

Business Acquisition, Pro Forma Information

These unaudited pro forma results are for comparative purposes only and may not be indicative of the results that would have occurred had this acquisition been completed on August 1, 2013 or the results that would be attained in the future.



	For the year ended July 31,
	2015			2014
Revenue	$	2,319,927		2,583,680
Net earnings (loss)	(11,834		)	4,388
Net earnings (loss) per common unitholders' interest	$	(0.14	)	$	0.05

Ferrellgas, L.P. [Member]

Business Acquired, Income Statement Impact

The following amounts from this acquisition were included in the operating results for the year ending July 31, 2015:



	For the year ended July 31,
	2015
Revenue	$	81,512
Operating income	3,848

Business Acquisition, Pro Forma Information



	For the year ended July 31,
	2015		2014
Revenue	$	2,319,927	2,583,680
Net earnings	4,504		20,580

Propane and related equipment sales [Member]

These acquisitions, were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments, net of cash acquired	$	4,250	$	34,219	$	37,186
Issuance of liabilities and other costs and considerations	481		2,942		2,035
Common units, net of issuance costs	3,000		1,500		—
Aggregate fair value of transactions	$	7,731	$	38,661	$	39,221



	For the year ended July 31,
	2015		2014			2013
Working capital	$	233	$	(919	)	$	7,302
Customer tanks, buildings, land and other	236		14,519			5,155
Goodwill	—		2,922			4,640
Customer lists	6,569		19,480			12,211
Non-compete agreements	693		2,659			944
Other intangibles	—		—			5,678
Trade names & trademarks	—		—			3,291
Aggregate fair value of net assets acquired	$	7,731	$	38,661		$	39,221

Propane and related equipment sales [Member] | Ferrellgas, L.P. [Member]

These acquisitions, were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments, net of cash acquired	$	4,250	$	34,219	$	37,186
Issuance of liabilities and other costs and considerations	481		2,942		2,035
Common units, net of issuance costs	3,000		1,500		—
Aggregate fair value of transactions	$	7,731	$	38,661	$	39,221



	For the year ended July 31,
	2015		2014			2013
Working capital	233		(919		)	7,302
Customer tanks, buildings, land and other	236		14,519			5,155
Goodwill	—		2,922			4,640
Customer lists	6,569		19,480			12,211
Non-compete agreements	693		2,659			944
Other intangibles	—		—			5,678
Trade names & trademarks	—		—			3,291
Aggregate fair value of net assets acquired	$	7,731	$	38,661		$	39,221

Midstream Operations - Water Solutions [Member]

These acquisitions were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments. net of cash acquired	$	74,677	$	127,785	$	—
Issuance of liabilities and other costs and considerations	—		2,555		—
Aggregate fair value of transactions	$	74,677	$	130,340	$	—

The aggregate fair values, for these acquisitions were allocated as follows:



	For the year ended July 31,
	2015		2014		2013
Working capital	$	1,155	$	490	$	—
Customer tanks, buildings, land and other	1,704		622		—
Salt water disposal wells	10,705		24,288		—
Goodwill	12,359		16,957		—
Customer relationships	38,846		64,000		—
Non-compete agreements	3,639		13,300		—
Permits and favorable lease arrangements	6,269		10,683		—
Aggregate fair value of net assets acquired	$	74,677	$	130,340	$	—

Midstream Operations - Water Solutions [Member] | Ferrellgas, L.P. [Member]

These acquisitions were funded as follows on their dates of acquisition:



	For the year ended July 31,
	2015		2014		2013
Cash payments, net of cash acquired	$	74,677	$	127,785	$	—
Issuance of liabilities and other costs and considerations	—		2,555		—
Aggregate fair value of transactions	$	74,677	$	130,340	$	—

The aggregate fair values, for these acquisitions were allocated as follows:



	For the year ended July 31,
	2015		2014		2013
Working capital	1,155		490		—
Customer tanks, buildings, land and other	1,704		622		—
Salt water disposal wells	10,705		24,288		—
Goodwill	12,359		16,957		—
Customer relationships	38,846		64,000		—
Non-compete agreements	3,639		13,300		—
Permits and favorable lease arrangements	6,269		10,683		—
Aggregate fair value of net assets acquired	$	74,677	$	130,340	$	—

Midstream - Crude Oil Logistics [Member]

The aggregate fair value for the Bridger Logistics Acquisition in the midstream operations - crude oil logistics solutions segment was preliminarily allocated as follows:



	For the year ended July 31,
	2015
Working capital	$	1,783
Transportation equipment	293,491
Injection stations and pipelines	41,632
Goodwill	193,311
Customer relationships	261,811
Non-compete agreements	14,800
Trade names & trademarks	5,800
Office equipment	7,449
Other	2,375
Aggregate fair value of net assets acquired	$	822,452

Midstream - Crude Oil Logistics [Member] | Ferrellgas, L.P. [Member]

Property, Plant And Equipment

The aggregate fair value for the Bridger Logistics Acquisition in the midstream operations - crude oil logistics solutions segment was preliminarily allocated as follows:



	For the year ended July 31,
	2015
Working capital	$	1,783
Transportation equipment	293,491
Injection stations and pipelines	41,632
Goodwill	193,311
Customer relationships	261,811
Non-compete agreements	14,800
Trade names & trademarks	5,800
Office equipment	7,449
Other	2,375
Aggregate fair value of net assets acquired	$	822,452

Supplemental Financial Statement Information (Tables)

12 Months Ended

Jul. 31, 2015

Schedule Of Inventories

Inventories consist of the following:



	2015		2014
Propane gas and related products	$	68,731	$	121,111
Appliances, parts and supplies	28,023		24,858
Inventories	$	96,754	$	145,969

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



	Estimated useful lives	2015		2014
Land	Indefinite	$	34,389	$	31,890
Land improvements	2-20	13,249		12,812
Buildings and improvements	20	71,923		68,492
Vehicles, including transport trailers	8-20	228,646		95,701
Bulk equipment and district facilities	5-30	111,657		109,739
Tanks, cylinders and customer equipment	2-30	772,904		772,402
Salt water disposal wells and related equipment	2-23	38,460		24,288
Rail cars	30	150,235		—
Injection stations	20	37,619		—
Pipeline	15	4,074		—
Computer and office equipment	2-5	123,386		116,265
Construction in progress	n/a	16,841		7,029
		1,603,383		1,238,618
Less: accumulated depreciation		638,166		626,831
Property, plant and equipment, net		$	965,217	$	611,787

Other Current Liabilities

Other current liabilities consist of the following:



	2015		2014
Accrued interest	$	17,281	$	12,182
Accrued payroll	17,485		37,120
Customer deposits and advances	28,792		25,412
Price risk management liabilities	31,450		83
Other	85,679		50,364
Other current liabilities	$	180,687	$	125,161

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,
	2015		2014		2013
Operating expense	$	174,105	$	190,999	$	181,932
Depreciation and amortization expense	5,127		5,829		5,744
Equipment lease expense	22,667		15,807		14,028
	$	201,899	$	212,635	$	201,704

Ferrellgas, L.P. [Member]

Schedule Of Inventories

Inventories consist of the following:



	2015		2014
Propane gas and related products	$	68,731	$	121,111
Appliances, parts and supplies	28,023		24,858
Inventories	$	96,754	$	145,969

Property, Plant And Equipment

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



	Estimated useful lives	2015		2014
Land	Indefinite	$	34,389	$	31,890
Land improvements	2-20	13,249		12,812
Buildings and improvements	20	71,923		68,492
Vehicles, including transport trailers	8-20	228,646		95,701
Bulk equipment and district facilities	5-30	111,657		109,739
Tanks, cylinders and customer equipment	2-30	772,904		772,402
Salt water disposal wells and related equipment	2-23	38,460		24,288
Rail cars	30	150,235		—
Injection stations	20	37,619		—
Pipeline	15	4,074		—
Computer and office equipment	2-5	123,386		116,265
Construction in progress	n/a	16,841		7,029
		1,603,383		1,238,618
Less: accumulated depreciation		638,166		626,831
Property, plant and equipment, net		$	965,217	$	611,787

Other Current Liabilities

Other current liabilities consist of the following:



	2015		2014
Accrued interest	$	15,275	$	10,176
Accrued payroll	17,485		37,120
Customer deposits and advances	28,792		25,412
Price risk management liabilities	31,450		83
Other	83,174		50,362
Other current liabilities	$	176,176	$	123,153

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,
	2015		2014		2013
Operating expense	$	174,105	$	190,999	$	181,932
Depreciation and amortization expense	5,127		5,829		5,744
Equipment lease expense	22,667		15,807		14,028
	$	201,899	$	212,635	$	201,704

Goodwill And Intangible Assets, Net (Tables)

12 Months Ended

Jul. 31, 2015

Schedule of Goodwill Rollforward

Goodwill and intangible assets, net consist of the following:



	July 31, 2015							July 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	478,747	$	—		$	478,747	$	273,210	$	—		$	273,210

Intangible assets, net
Amortized intangible assets
Customer related	$	807,122	$	(349,719	)	$	457,403	$	500,100	$	(322,277	)	$	177,823
Non-compete agreements	53,711		(18,730		)	34,981		63,933		(43,120		)	20,813
Permits and favorable lease arrangements	16,952		(1,173		)	15,779		10,683		(119		)	10,564
Other	9,182		(5,497		)	3,685		9,177		(4,592		)	4,585
	886,967		(375,119		)	511,848		583,893		(370,108		)	213,785

Unamortized intangible assets
Trade names & trademarks	68,195					68,195		62,386					62,386
Total intangible assets, net	$	955,162	$	(375,119	)	$	580,043	$	646,279	$	(370,108	)	$	276,171

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



	Propane and related equipment sales			Midstream operations - water solutions		Midstream operations - crude oil logistics		Total
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
Acquisitions	—			12,359		193,311		205,670
Other	(133		)	—		—		(133		)
Balance July 31, 2015	$	256,120		$	29,316	$	193,311	$	478,747

Schedule Of Aggregate Amortization Expense



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2015	$	34,585
2014	23,490
2013	21,725

Schedule Of Estimated Amortization Expense



Estimated amortization expense:
For the year ended July 31,
2016	$	61,788
2017	61,212
2018	57,546
2019	51,297
2020	45,588

Ferrellgas, L.P. [Member]

Schedule of Goodwill Rollforward

Goodwill and intangible assets, net consist of the following:



	July 31, 2015							July 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Goodwill, net	$	478,747	$	—		$	478,747	$	273,210	$	—		$	273,210

Intangible assets, net
Amortized intangible assets
Customer related	$	807,122	$	(349,719	)	$	457,403	$	500,100	$	(322,277	)	$	177,823
Non-compete agreements	53,711		(18,730		)	34,981		63,933		(43,120		)	20,813
Permits and favorable lease arrangements	16,952		(1,173		)	15,779		10,683		(119		)	10,564
Other	9,182		(5,497		)	3,685		9,177		(4,592		)	4,585
	886,967		(375,119		)	511,848		583,893		(370,108		)	213,785

Unamortized intangible assets
Trade names & trademarks	68,195					68,195		62,386					62,386
Total intangible assets, net	$	955,162	$	(375,119	)	$	580,043	$	646,279	$	(370,108	)	$	276,171

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



	Propane and related equipment sales			Midstream operations - water solutions		Midstream operations - crude oil logistics		Total
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
Acquisitions	—			12,359		193,311		205,670
Other	(133		)	—		—		(133		)
Balance July 31, 2015	$	256,120		$	29,316	$	193,311	$	478,747

Schedule Of Aggregate Amortization Expense



Aggregate amortization expense related to intangible assets, net:
For the year ended July 31,
2015	$	34,585
2014	23,490
2013	21,725

Schedule Of Estimated Amortization Expense



Estimated amortization expense:
For the year ended July 31,
2016	$	61,788
2017	61,212
2018	57,546
2019	51,297
2020	45,588

Debt (Tables)

12 Months Ended

Jul. 31, 2015

Components Of Long-term Debt

Long-term debt consists of the following:



	2015		2014
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000	$	500,000
Fixed rate, 6.75%, due 2023 (4)	500,000		—
Fixed rate, 6.75%, due 2022, net of unamortized premium of $4,906 and $5,863 at 2015 and 2014, respectively (3)	479,906		480,863
Fixed rate, 8.625%, due 2020 (2)	182,000		182,000
Fair value adjustments related to interest rate swaps	876		(2,534		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $75.3 million and $69.5 million classified as short-term borrowings at July 31, 2015 and 2014, respectively)	136,081		123,781

Notes payable
9.5% and 8.8% weighted average interest rate at July 31, 2015 and 2014, respectively, due 2015 to 2022, net of unamortized discount of $1,914 and $2,239 at July 31, 2015 and 2014, respectively	9,181		11,727
	1,808,044		1,295,837
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,652		3,623
Long-term debt	$	1,804,392	$	1,292,214

(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)

(4)

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
2016	$	3,652
2017	3,241
2018	1,719
2019	1,204
2020	136,429
Thereafter	1,657,931
Total	$	1,804,176

Ferrellgas, L.P. [Member]

Components Of Long-term Debt

Long-term debt consists of the following:



	2015		2014
Senior notes
Fixed rate, 6.50%, due 2021 (1)	$	500,000	$	500,000
Fixed rate, 6.75%, due 2023 (3)	500,000		—
Fixed rate, 6.75%, due 2022, net of unamortized premium of $4,906 and $5,863 at 2015 and 2014, respectively (2)	479,906		480,863
Fair value adjustments related to interest rate swaps	876		(2,534		)

Secured credit facility
Variable interest rate, expiring October 2018 (net of $75.3 million and $69.5 million classified as short-term borrowings at July 31, 2015 and 2014, respectively)	136,081		123,781

Notes payable
9.5% and 8.8% weighted average interest rate at July 31, 2015 and 2014, respectively, due 2015 to 2022, net of unamortized discount of $1,914 and $2,239 at July 31, 2015 and 2014, respectively	9,181		11,727
	1,626,044		1,113,837
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,652		3,623
Long-term debt	$	1,622,392	$	1,110,214

(1)

(2)

(3)

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
2016	$	3,652
2017	3,241
2018	1,719
2019	1,204
2020	136,429
Thereafter	1,475,931
Total	$	1,622,176

Partners' Capital (Tables)

12 Months Ended

Jul. 31, 2015

Limited Partner Units

As of July 31, 2015 and 2014, limited partner units were beneficially owned by the following:



	2015	2014
Public common unitholders (1)	63,294,168	55,153,208
Ferrell Companies (2)	22,529,361	21,469,664
FCI Trading Corp. (3)	195,686	195,686
Ferrell Propane, Inc. (4)	51,204	51,204
James E. Ferrell (5)	4,763,475	4,358,475
James H. Ballengee (6)	9,542,895	—

Ferrellgas Paid Cash Distributions

Ferrellgas Partners has paid the following distributions:



	For the year ended July 31,
	2015		2014		2013
Public common unitholders	$	111,163	$	107,164	$	105,934
Ferrell Companies	45,059		42,939		42,939
FCI Trading Corp.	392		392		392
Ferrell Propane, Inc.	104		104		104
James E. Ferrell	8,717		8,717		8,717
General partner	1,670		1,609		1,596
	$	167,105	$	160,925	$	159,682

Ferrellgas, L.P. [Member]

Ferrellgas Paid Cash Distributions

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



	For the year ended July 31,
	2015		2014		2013
Ferrellgas Partners	$	182,803	$	176,623	$	175,380
General partner	1,864		1,803		1,790

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	$	11,546
FCI Trading Corp.	100
Ferrell Propane, Inc.	26
James E. Ferrell	2,441
General partner	520
James H. Ballengee	4,890

Fair Value Measurement (Tables)

12 Months Ended

Jul. 31, 2015

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, 2015:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	1,828		$	—		$	1,828
Commodity derivatives	$	—	$	4,655		$	—		$	4,655
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,748	)	$	—		$	(4,748	)
Commodity derivatives	$	—	$	(42,375	)	$	—		$	(42,375	)
Contingent consideration	$	—	$	—		$	(100	)	$	(100	)

July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Commodity derivatives	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Commodity derivatives	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

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



	Contingent consideration liability
Balance at July 31, 2014	$	6,400
Estimated value at acquisition	—
Increase in fair value related to accretion	400
Change in fair value included in earnings	(6,700		)
Balance at July 31, 2015	$	100

Fair Value Inputs, Liabilities, Quantitative Information

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2015

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

100

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

5% - 80%

N/A

Sensitivity of Unobservable Inputs

As of July 31, 2015, 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	$	(10	)	$	—	$	200	$	(100	)

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, 2015:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	1,828		$	—		$	1,828
Commodity derivatives	$	—	$	4,655		$	—		$	4,655
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(4,748	)	$	—		$	(4,748	)
Commodity derivatives	$	—	$	(42,375	)	$	—		$	(42,375	)
Contingent consideration	$	—	$	—		$	(100	)	$	(100	)

July 31, 2014:
Assets:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	2,101		$	—		$	2,101
Commodity derivatives	$	—	$	7,006		$	—		$	7,006
Liabilities:
Derivative financial instruments:
Interest rate swap agreements	$	—	$	(5,075	)	$	—		$	(5,075	)
Commodity derivatives	$	—	$	(83	)	$	—		$	(83	)
Contingent consideration	$	—	$	—		$	(6,400	)	$	(6,400	)

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



	Contingent consideration liability
Balance at July 31, 2014	$	6,400
Estimated value at acquisition	—
Increase in fair value related to accretion	400
Change in fair value included in earnings	(6,700		)
Balance at July 31, 2015	$	100

Fair Value Inputs, Liabilities, Quantitative Information

Quantitative Information about Level 3 Fair Value Measurements

Fair value at July 31, 2015

Valuation technique

Unobservable input

Range

Weighted Average

Contingent consideration liability

100

Discounted cash flow

Weighted average cost of capital (WACC)

N/A

Probability of forecast

5% - 80%

N/A

Sensitivity of Unobservable Inputs

As of July 31, 2015, 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	$	(10	)	$	—	$	200	$	(100	)

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, 2015

The following tables provide a summary of the fair value of derivatives within Ferrellgas’ consolidated balance sheets as of July 31, 2015 and 2014:

July 31, 2015

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

3,614

Other current liabilities

27,929

Commodity derivatives

Other assets, net

1,041

Other liabilities

12,034

Interest rate swap agreements

Prepaid expenses and other current assets

1,828

Other current liabilities

2,241

Interest rate swap agreements

Other assets, net

—

Other liabilities

2,507

Derivatives not designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

—

Other current liabilities

1,280

Commodity derivatives

Other assets, net

—

Other liabilities

1,132

Total

6,483

Total

47,123

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

Schedule of Derivative Collateral

The following tables provide a summary of cash margin deposit balances as of July 31, 2015 and July 31, 2014, respectively:



	July 31, 2015
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	18,009	Other current liabilities	$	15
	Other assets, net	11,786		Other liabilities	—
		$	29,795		$	15


	July 31, 2014
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	156	Other current liabilities	$	—
	Other assets, net	189		Other liabilities	—
		$	345		$	—

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,
		2015		2014		2015			2014
Interest rate swap agreements	Interest expense	$	1,892	$	2,520	$	(9,100	)	$	(11,985	)

Cash Flow Hedge Derivative Effect on Comprehensive Income



	For the year ended July 31, 2015
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	(70,291	)	Cost of product sold- propane and other gas liquids sales	$	(28,059	)
Interest rate swap agreements	(3,356		)	Interest expense	(199		)
	$	(73,647	)		$	(28,258	)



	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	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

Derivatives not designated as hedging instruments effect on earnings

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, 2015, 2014 and 2013 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2015			2014			2013
Beginning balance	$	6,483		$	2,066		$	(12,799	)
Change in value on risk management commodity derivatives	(70,291		)	15,473			2,032
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales, net	28,059			(10,175		)	10,613
Change in value on risk management interest rate derivatives	(3,356		)	(881		)	2,220
Reclassification of gains and losses on interest rate hedges to interest expense	199			—			—
Ending balance	$	(38,906	)	$	6,483		$	2,066

Ferrellgas, L.P. [Member]

Fair Value of Financial Derivatives Balance Sheet Locations

The following tables provide a summary of the fair value of derivatives within Ferrellgas, L.P.’s consolidated balance sheets as of July 31, 2015 and 2014:

July 31, 2015

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

3,614

Other current liabilities

27,929

Commodity derivatives

Other assets, net

1,041

Other liabilities

12,034

Interest rate swap agreements

Prepaid expenses and other current assets

1,828

Other current liabilities

2,241

Interest rate swap agreements

Other assets, net

—

Other liabilities

2,507

Derivatives not designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

—

Other current liabilities

1,280

Commodity derivatives

Other assets, net

—

Other liabilities

1,132

Total

6,483

Total

47,123

July 31, 2014

Asset Derivatives

Liability Derivatives

Derivative Instrument

Location

Fair value

Location

Fair value

Derivatives designated as hedging instruments

Commodity derivatives

Prepaid expenses and other current assets

5,301

Other current liabilities

Commodity derivatives

Other assets, net

1,705

Other liabilities

—

Interest rate swap agreements

Prepaid expenses and other current assets

2,101

Other current liabilities

—

Interest rate swap agreements

Other assets, net

—

Other liabilities

5,075

Total

9,107

Total

5,158

Schedule of Derivative Collateral

The following tables provide a summary of cash margin deposit balances as of July 31, 2015 and July 31, 2014, respectively:



	July 31, 2015
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	18,009	Other current liabilities	$	15
	Other assets, net	11,786		Other liabilities	—
		$	29,795		$	15

	July 31, 2014
	Assets			Liabilities
Description	Location	Amount		Location	Amount
Margin Deposits	Prepaid expense and other current assets	$	156	Other current liabilities	$	—
	Other assets, net	189		Other liabilities	—
		$	345		$	—

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,
		2015		2014		2015			2014
Interest rate swap agreements	Interest expense	$	1,892	$	2,520	$	(9,100	)	$	(11,985	)

Cash Flow Hedge Derivative Effect on Comprehensive Income



	For the year ended July 31, 2015
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	(70,291	)	Cost of product sold- propane and other gas liquids sales	$	(28,059	)
Interest rate swap agreements	(3,356		)	Interest expense	(199		)
	$	(73,647	)		$	(28,258	)


	For the year ended July 31, 2014
Derivative Instrument	Amount of Gain (Loss) Recognized in AOCI			Location of Gain (Loss) Reclassified from AOCI into Income	Amount of Gain (Loss) Reclassified from AOCI into Income
Commodity derivatives	$	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

Derivatives not designated as hedging instruments effect on earnings

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, 2015, 2014 and 2013 were as follows:



	For the year ended July 31,
Gains and losses on derivatives included in AOCI	2015			2014			2013
Beginning balance	$	6,483		$	2,066		$	(12,799	)
Change in value on risk management commodity derivatives	(70,291		)	15,473			2,032
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales, net	28,059			(10,175		)	10,613
Change in value on risk management interest rate derivatives	(3,356		)	(881		)	2,220
Reclassification of gains and losses on interest rate hedges to interest expense	$	199		$	—		$	—
Ending balance	$	(38,906	)	$	6,483		$	2,066

Contingencies And Commitments (Tables)

12 Months Ended

Jul. 31, 2015

Contractual Operating Lease Commitments And Buyouts

The following table summarizes Ferrellgas’ contractual operating lease commitments and buyout obligations as of July 31, 2015:



	Future minimum rental and buyout amounts by fiscal year
	2016		2017		2018		2019		2020		Thereafter
Operating lease obligations	$	39,999	$	31,497	$	25,599	$	20,084	$	14,402	$	16,078

Operating lease buyouts	$	2,738	$	1,816	$	3,217	$	3,011	$	2,693	$	9,355

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, 2015:



	Future minimum rental and buyout amounts by fiscal year
	2016		2017		2018		2019		2020		Thereafter
Operating lease obligations	$	39,999	$	31,497	$	25,599	$	20,084	$	14,402	$	16,078

Operating lease buyouts	$	2,738	$	1,816	$	3,217	$	3,011	$	2,693	$	9,355

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, 2015

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

Additionally, in periods with net losses, there are no dilutive securities.



	For the year ended July 31,
	2015		2014		2013
Common unitholders’ interest in net earnings	$	29,324	$	32,879	$	55,862

Weighted average common units outstanding (in thousands)	84,646.2		79,651.1		79,038.6

Dilutive securities	6.7		20.6		37.0

Weighted average common units outstanding plus dilutive securities	84,652.9		79,671.7		79,075.6

Basic and diluted net earnings per common unitholders’ interest	$	0.35	$	0.41	$	0.71

Segment Reporting Segment Reporting (Tables)

12 Months Ended

Jul. 31, 2015

Reconciliation of Other Significant Reconciling Items from Segments to Consolidated

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



	Year Ended July 31,
	2015			2014

Net earnings attributable to Ferrellgas Partners, L.P.	$	29,620		$	33,211
Income tax expense (benefit)		(315	)		2,516
Interest expense		100,396			86,502
Depreciation and amortization expense		98,579			84,202
EBITDA		228,280			206,431
Loss on extinguishment of debt		—			21,202
Non-cash employee stock ownership plan compensation charge		24,713			21,789
Non-cash stock-based compensation charge		25,982			24,508
Loss on disposal of assets		7,099			6,486
Other expense, net		350			479
Change in fair value of contingent consideration		(6,300	)		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		806			1,749
Acquisition and transition expenses		16,373			—
Unrealized (non-cash) loss on changes in fair value of derivatives not designated as hedging instruments		2,412			—
Net earnings attributable to noncontrolling interest		469			504
Adjusted EBITDA	$	300,184		$	288,148

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:



	July 31,		July 31,
	2015		2014

Assets
Propane and related equipment sales	$	1,295,831	$	1,400,603
Midstream operations - crude oil logistics		917,325		—
Midstream operations - water solutions		205,358		136,116
Corporate and unallocated		45,542		35,551
Total consolidated assets	$	2,464,056	$	1,572,270

Profit Measure [Member]

Schedule of Segment Reporting Information, by Segment

Following is a summary of segment information for the years ended July 31, 2015 and 2014.



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		Corporate and other			Total



Segment revenues	$	1,917,201	$	81,512	$	25,677	$	—		$	2,024,390
Direct costs (1)		1,591,404		72,929		20,141		39,732			1,724,206
Adjusted EBITDA	$	325,797	$	8,583	$	5,536	$	(39,732	)	$	300,184


	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		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 (unaudited):



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate and other		Total



Capital expenditures:
Maintenance	$	16,020	$	—	$	1,072	$	2,357	$	19,449
Growth		36,958		64		13,366		—		50,388
Total	$	52,978	$	64	$	14,438	$	2,357	$	69,837

	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate & other		Total



Capital expenditures:
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 Ferrellgas, L.P.'s total segment performance measure to consolidated net earnings:



	Year Ended July 31,
	2015			2014

Net earnings	$	46,427		$	49,907
Income tax expense (benefit)		(384	)		2,471
Interest expense		84,227			70,332
Depreciation and amortization expense		98,579			84,202
EBITDA		228,849			206,912
Loss on extinguishment of debt		—			21,202
Non-cash employee stock ownership plan compensation charge		24,713			21,789
Non-cash stock and unit-based compensation charge		25,982			24,508
Loss on disposal of assets		7,099			6,486
Other expense, net		354			479
Change in fair value of contingent consideration		(6,300	)		5,000
Litigation accrual and related legal fees associated with a class action lawsuit		806			1,749
Acquisition and transition expenses		16,373			—
Unrealized (non-cash) loss on changes in fair value of derivatives not designated as hedging instruments		2,412			—
Adjusted EBITDA	$	300,288		$	288,125

Reconciliation of Assets from Segment to Consolidated

Following are total assets by segment:



	July 31,		July 31,
	2015		2014

Assets
Propane and related equipment sales	$	1,291,737	$	1,400,603
Midstream operations - crude oil logistics		917,325		—
Midstream operations - water solutions		205,358		136,116
Corporate and unallocated		45,542		33,114
Total consolidated assets	$	2,459,962	$	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 years ended July 31, 2015 and 2014.



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		Corporate and other			Total



Segment revenues	$	1,917,201	$	81,512	$	25,677	$	—		$	2,024,390
Direct costs (1)		1,591,300		72,929		20,141		39,732			1,724,102
Adjusted EBITDA	$	325,901	$	8,583	$	5,536	$	(39,732	)	$	300,288

	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water Solutions		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 (unaudited):



	Year Ended July 31, 2015
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate and other		Total



Capital expenditures:
Maintenance	$	16,020	$	—	$	1,072	$	2,357	$	19,449
Growth		36,958		64		13,366		—		50,388
Total	$	52,978	$	64	$	14,438	$	2,357	$	69,837

	Year Ended July 31, 2014
	Propane and related equipment sales		Midstream operations - Crude oil logistics		Midstream operations - Water solutions		Corporate & other			Total



Capital expenditures:
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, 2015

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, 2015	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	443,355		$	665,973	$	532,551	$	382,511
Gross margin from propane and other gas liquids sales (a)	129,547			230,175		191,983		128,087
Gross margin from midstream operations (b)	5,948			4,934		3,416		16,301
Net earnings (loss)	(33,169		)	86,371		36,220		(59,333		)
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(32,875		)	85,458		35,812		(58,775		)
Common unitholders’ interest in net earnings (loss)	(32,546		)	84,603		35,454		(58,187		)

Basic and diluted net earnings (loss) per common unitholders’ interest	$	(0.40	)	$	0.89	$	0.43	$	(0.64	)


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
Gross margin from midstream operations (b)	—			—		—		5,465
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	)


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


(b)	Gross margin from "Midstream operations" represents "Revenues - midstream operations" less "Cost of sales - midstream operations."

Ferrellgas, L.P. [Member]

Summarized Unaudited Quarterly Data



For the year ended July 31, 2015	First quarter			Second quarter		Third quarter		Fourth quarter
Revenues	$	443,355		$	665,973	$	532,551	$	382,511
Gross margin from propane and other gas liquids sales (a)	129,547			230,175		191,983		128,087
Gross margin from midstream operations (b)	$	5,948		$	4,934	$	3,416	$	16,301
Net earnings (loss)	$	(29,137	)	$	90,409	$	40,404	$	(55,249	)

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
Gross margin from midstream operations (b)	$	—		$	—	$	—	$	5,465
Net earnings (loss)	$	(21,138	)	$	65,171	$	50,053	$	(44,179	)


(a)	Gross margin from “Propane and other gas liquids sales” represents “Revenues - propane and other gas liquids sales” less “Cost of sales – 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, 2015

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,
	2015			2014
ASSETS

Cash and cash equivalents	$	2,052		$	6
Prepaid expenses and other current assets	74			—
Investment in Ferrellgas, L.P.	386,171			69,205
Other assets, net	1,968			2,439
Total assets	$	390,265		$	71,650

LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)

Other current liabilities	$	4,511		$	2,016
Long-term debt	182,000			182,000

Partners' capital (deficit)
Common unitholders (100,376,789 and 81,228,237 units outstanding at 2015 and 2014, respectively)	299,730			(57,893		)
General partner (1,013,907 and 820,487 units outstanding at 2015 and 2014, respectively)	(57,042		)	(60,654		)
Accumulated other comprehensive income (loss)	(38,934		)	6,181
Total Ferrellgas Partners, L.P. partners' capital (deficit)	203,754			(112,366		)
Total liabilities and partners' capital (deficit)	$	390,265		$	71,650

Schedule Of Parent Only Statement Of Earnings



FERRELLGAS PARTNERS, L.P.
PARENT ONLY
STATEMENTS OF EARNINGS
(in thousands)
	For the year ended July 31,
	2015			2014			2013
Equity in earnings of Ferrellgas, L.P.	$	45,958		$	49,403		$	72,634
Operating expense	104			23			(20		)

Operating income	45,854			49,426			72,614

Interest expense	(16,169		)	(16,170		)	(16,171		)
Income tax expense	(69		)	(45		)	(17		)
Other income	4			0			0
Net earnings	$	29,620		$	33,211		$	56,426

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,
	2015			2014			2013
Cash flows from operating activities:
Net earnings attributable to Ferrellgas Partners, L.P.	$	29,620		$	33,211		$	56,426
Reconciliation of net earnings to net cash used in operating activities:
Other	2,922			426			383
Equity in earnings of Ferrellgas, L.P.	(45,958		)	(49,403		)	(72,634		)
Net cash used in operating activities	(13,416		)	(15,766		)	(15,825		)

Cash flows from investing activities:
Business acquisitions, net of cash acquired	(562,500		)	—			—
Distributions received from Ferrellgas, L.P.	601,736			176,623			175,380
Cash contributed to Ferrellgas, L.P.	(42,224		)	(51,105		)	(800		)
Net cash provided by (used in) investing activities	(2,988		)	125,518			174,580

Cash flows from financing activities:
Distributions paid to common and general partner unitholders	(167,105		)	(160,925		)	(159,682		)
Cash paid for financing costs	—			(94		)	—
Issuance of common units (net of issuance costs of $648, $0, and $0 for the years ended July 31, 2015, 2014, and 2013	181,008			50,000			—
Proceeds from exercise of common unit options	91			605			864
Cash contribution from general partners in connection with common unit issuances	4,456			511			9
Net cash provided by (used in) financing activities	18,450			(109,903		)	(158,809		)

Increase (decrease) in cash and cash equivalents	2,046			(151		)	(54		)
Cash and cash equivalents - beginning of year	6			157			211
Cash and cash equivalents - end of year	$	2,052		$	6		$	157

Partnership Organization And Formation (Details) (USD $)	12 Months Ended
	Jul. 31, 2015 employee	Jul. 31, 2014
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	22,800,000
Operating Partnership [Member]
General partner ownership interest	1.00%
Ferrellgas [Member]
General partner ownership interest	2.00%

Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Jul. 31, 2015 subsidiary	Jul. 31, 2014	Jul. 31, 2013
General partner ownership interest	1.00%
Revenue recognized over a straight-line basis, term	1 year
Non-cash stock and unit-based compensation charge	$ 25,982	$ 24,508	$ 13,545
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	25,982	24,508	13,545
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	25,600	24,500	13,500
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	$ 25,600	$ 24,500	$ 13,500
Ferrell Companies Inc Deferred Incentive Compensation Plan [Member] [Member]
Stock options, percent to vest upon event	100.00%
Retirement age	65
Ferrell Companies Inc Deferred Incentive Compensation Plan [Member] [Member] \| Ferrellgas, L.P. [Member]
Stock options, percent to vest upon event	100.00%
Retirement age	65
Ferrell Companies Inc Deferred Incentive Compensation Plan [Member] [Member] \| Minimum [Member]
Award vesting period	0 years
Term till award expiration	10 years
Ferrell Companies Inc Deferred Incentive Compensation Plan [Member] [Member] \| Minimum [Member] \| Ferrellgas, L.P. [Member]
Award vesting period	0 years
Term till award expiration	10 years
Ferrell Companies Inc Deferred Incentive Compensation Plan [Member] [Member] \| Maximum [Member]
Award vesting period	12 years
Term till award expiration	15 years
Ferrell Companies Inc Deferred Incentive Compensation Plan [Member] [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, 2015	Jul. 31, 2014	Jul. 31, 2013
Cash Paid For [Abstract]
Interest Paid	$ 91,783	$ 90,820	$ 84,030
Income taxes	712	816	550
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	265,639	1,530
Liabilities incurred in connection with acquisitions	481	4,312	2,035
Change in accruals for property, plant and equipment additions	498	978	533
Ferrellgas, L.P. [Member]
Cash Paid For [Abstract]
Interest Paid	76,085	75,121	68,334
Income taxes	643	771	534
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	833,875	1,515
Liabilities incurred in connection with acquisitions	481	4,312	2,035
Change in accruals for property, plant and equipment additions	498	978	533
Common Unitholders [Member]
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	262,952	1,500	0
Common Unitholders [Member] \| Ferrellgas, L.P. [Member]
Non-Cash Investing Activities [Abstract]
Issuance of common units in connection with acquisitions	$ 825,452	$ 1,500	$ 0

Summary Of Significant Accounting Policies (Summary Of Income Tax Expense) (Details) (USD $)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Current expense	$ (585,000)	$ 2,428,000	$ 1,722,000
Deferred expense	270,000	88,000	133,000
Income tax expense	(315,000)	2,516,000	1,855,000
Ferrellgas, L.P. [Member]
Current expense	(654,000)	2,383,000	1,705,000
Deferred expense	270,000	88,000	133,000
Income tax expense	$ (384,000)	$ 2,471,000	$ 1,838,000

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, 2015	Jul. 31, 2014
Deferred tax assets	$ 724,000	$ 1,152,000
Deferred tax liabilities	(4,157,000)	(4,313,000)
Net deferred tax liability	(3,433,000)	(3,161,000)
Ferrellgas, L.P. [Member]
Deferred tax assets	724,000	1,152,000
Deferred tax liabilities	(4,157,000)	(4,313,000)
Net deferred tax liability	$ (3,433,000)	$ (3,161,000)

Business Combinations (Narrative) (Details) (USD $)	12 Months Ended
Business Combinations (Narrative) (Details) (USD $)	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Proceeds from equity offering, net of issuance costs	$ 181,008,000	$ 50,000,000	$ 0
Propane and related equipment sales [Member]
Aggregate fair value of transactions	7,731,000	38,661,000	39,221,000
Payments to Acquire Businesses, Gross	4,250,000	34,219,000	37,186,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	3,000,000	1,500,000	0
Issuance of liabilities and other costs and considerations	481,000	2,942,000	2,035,000
Business Combination, Consideration Transferred	7,731,000	38,661,000	39,221,000
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Aggregate fair value of transactions	7,731,000	38,661,000	39,221,000
Payments to Acquire Businesses, Gross	4,250,000	34,219,000	37,186,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	3,000,000	1,500,000	0
Issuance of liabilities and other costs and considerations	481,000	2,942,000	2,035,000
Business Combination, Consideration Transferred	7,731,000	38,661,000	39,221,000
Midstream Operations - Water Solutions [Member]
Aggregate fair value of transactions	74,677,000	130,300,000
Business Combination, Prior Period Adjustment, Working Capital	1,400,000
Proceeds from equity offering, net of issuance costs		50,000,000
Payments to Acquire Businesses, Gross	74,677,000	127,785,000	0
Issuance of liabilities and other costs and considerations	0	2,555,000	0
Business Combination, Consideration Transferred	74,677,000	130,340,000	0
Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Aggregate fair value of transactions	74,677,000	130,340,000	0
Business Combination, Prior Period Adjustment, Working Capital	1,400,000
Proceeds from equity offering, net of issuance costs		50,000,000
Payments to Acquire Businesses, Gross	74,677,000	127,785,000	0
Issuance of liabilities and other costs and considerations	0	2,555,000	0
Business Combination, Consideration Transferred	74,677,000	130,340,000	0
Midstream - Crude Oil Logistics [Member]
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	16,373,000	0
Aggregate fair value of transactions	822,452,000
Payments to Acquire Businesses, Gross	560,000,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	260,000,000
Issuance of liabilities and other costs and considerations	2,500,000
Business Combination, Consideration Transferred	822,500,000
Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized	16,373,000	0
Aggregate fair value of transactions	822,452,000
Payments to Acquire Businesses, Gross	560,000,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	260,000,000
Issuance of liabilities and other costs and considerations	2,500,000
Business Combination, Consideration Transferred	822,500,000
Minimum [Member] \| Midstream Operations - Water Solutions [Member]
Potential Undiscounted Contingent Consideration Payments	0
Minimum [Member] \| Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Potential Undiscounted Contingent Consideration Payments	0
Maximum [Member] \| Midstream Operations - Water Solutions [Member]
Potential Undiscounted Contingent Consideration Payments	2,000,000
Maximum [Member] \| Midstream Operations - Water Solutions [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, 2015	Jul. 31, 2014	Jul. 31, 2013
Propane and related equipment sales [Member]
Payments to Acquire Businesses, Gross	$ 4,250	$ 34,219	$ 37,186
Issuance of liabilities and other costs and considerations	481	2,942	2,035
Common units, net of issuance cost	3,000	1,500	0
Aggregate fair value of transactions	7,731	38,661	39,221
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Payments to Acquire Businesses, Gross	4,250	34,219	37,186
Issuance of liabilities and other costs and considerations	481	2,942	2,035
Common units, net of issuance cost	3,000	1,500	0
Aggregate fair value of transactions	7,731	38,661	39,221
Midstream Operations - Water Solutions [Member]
Payments to Acquire Businesses, Gross	74,677	127,785	0
Issuance of liabilities and other costs and considerations	0	2,555	0
Aggregate fair value of transactions	74,677	130,340	0
Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Payments to Acquire Businesses, Gross	74,677	127,785	0
Issuance of liabilities and other costs and considerations	0	2,555	0
Aggregate fair value of transactions	$ 74,677	$ 130,340	$ 0

Business Combinations (Aggregate Fair Value) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill acquisitions	$ 205,670	$ 19,879
Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill acquisitions	205,670	19,879
Propane and related equipment sales [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	233		7,302
Working capital		(919)
Customer tanks, buildings, land, salt water disposal wells, and other	236	14,519	5,155
Goodwill acquisitions	0	2,922	4,640
Aggregate fair value of transactions	7,731	38,661	39,221
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	233		7,302
Working capital		(919)
Customer tanks, buildings, land, salt water disposal wells, and other	236	14,519	5,155
Goodwill acquisitions	0	2,922	4,640
Trade names & trademarks	0	0	3,291
Aggregate fair value of transactions	7,731	38,661	39,221
Propane and related equipment sales [Member] \| Customer Lists [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	6,569	19,480	12,211
Propane and related equipment sales [Member] \| Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	6,569	19,480	12,211
Propane and related equipment sales [Member] \| Non-Compete Agreements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	693	2,659	944
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	693	2,659	944
Propane and related equipment sales [Member] \| Other Intangible Assets [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	0	0	5,678
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	0	5,678
Midstream - Crude Oil Logistics [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	1,783
Goodwill acquisitions	193,311	0
Aggregate fair value of transactions	822,452
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	2,375
Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	1,783
Goodwill acquisitions	193,311	0
Aggregate fair value of transactions	822,452
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	2,375
Midstream - Crude Oil Logistics [Member] \| Customer Lists [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	261,811
Midstream - Crude Oil Logistics [Member] \| Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	261,811
Midstream - Crude Oil Logistics [Member] \| Non-Compete Agreements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	14,800
Midstream - Crude Oil Logistics [Member] \| Non-Compete Agreements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	14,800
Midstream Operations - Water Solutions [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	1,155	490	0
Goodwill acquisitions	12,359	16,957
Aggregate fair value of transactions	74,677	130,300
Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Working capital	1,155	490	0
Customer tanks, buildings, land, salt water disposal wells, and other	1,704	622	0
Goodwill acquisitions	12,359	16,957	0
Aggregate fair value of transactions	74,677	130,340	0
Midstream Operations - Water Solutions [Member] \| Customer Lists [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	38,846	64,000	0
Midstream Operations - Water Solutions [Member] \| Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	38,846	64,000	0
Midstream Operations - Water Solutions [Member] \| Non-Compete Agreements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	3,639	13,300	0
Midstream Operations - Water Solutions [Member] \| Non-Compete Agreements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	3,639	13,300	0
Midstream Operations - Water Solutions [Member] \| Permits and favorable lease arrangements [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	6,269	10,683	0
Midstream Operations - Water Solutions [Member] \| Permits and favorable lease arrangements [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Amortized intangible assets acquired	6,269	10,683	0
Transportation Equipment [Member] \| Midstream - Crude Oil Logistics [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	293,491
Transportation Equipment [Member] \| Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	293,491
Customer tanks, buildings, land and other [Member] \| Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	1,704	622	0
Salt water disposal wells [Member] \| Midstream Operations - Water Solutions [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	10,705	24,288	0
Salt water disposal wells [Member] \| Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	10,705	24,288	0
Goodwill acquisitions	12,359	16,957	0
Injection Stations and Pipelines [Member] \| Midstream - Crude Oil Logistics [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	41,632
Injection Stations and Pipelines [Member] \| Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	41,632
Computer And Office Equipment [Member] \| Midstream - Crude Oil Logistics [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	7,449
Computer And Office Equipment [Member] \| Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Customer tanks, buildings, land, salt water disposal wells, and other	7,449
Trademarks and Trade Names [Member] \| Propane and related equipment sales [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Trade names & trademarks	0	0	3,291
Trademarks and Trade Names [Member] \| Midstream - Crude Oil Logistics [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Trade names & trademarks	5,800
Trademarks and Trade Names [Member] \| Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Trade names & trademarks	$ 5,800

Business Combinations Business Combinations (Pro Forma Information) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ (0.14)	$ 0.05
Business Acquisition, Pro Forma Net Income (Loss)	$ (11,834)	$ 4,388
Business Acquisition, Pro Forma Revenue	2,319,927	2,583,680
Ferrellgas, L.P. [Member]
Business Acquisition, Pro Forma Net Income (Loss)	4,504	20,580
Business Acquisition, Pro Forma Revenue	$ 2,319,927	$ 2,583,680

Supplemental Financial Statement Information (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jul. 31, 2015 gal	Jul. 31, 2014	Jul. 31, 2013
Contract term duration	1 year
Supply procurement contract duration	36 months
Net procurement of fixed priced propane by Ferrellgas in gallons	80,500,000
Depreciation	$ 61.3	$ 58.3	$ 59.3
Ferrellgas, L.P. [Member]
Contract term duration	1 year
Net procurement of fixed priced propane by Ferrellgas in gallons	80,500,000
Depreciation	$ 61.3	$ 58.3	$ 59.3
Maximum [Member] \| Ferrellgas, L.P. [Member]
Supply procurement contract duration	36 months

Supplemental Financial Statement Information (Schedule Of Inventories) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015	Jul. 31, 2014
Propane gas and related products	$ 68,731	$ 121,111
Appliances, parts and supplies	28,023	24,858
Inventories	96,754	145,969
Ferrellgas, L.P. [Member]
Propane gas and related products	68,731	121,111
Appliances, parts and supplies	28,023	24,858
Inventories	$ 96,754	$ 145,969

Supplemental Financial Statement Information (Property, Plant And Equipment) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,603,383	$ 1,238,618
Less: accumulated depreciation	638,166	626,831
Property, plant and equipment, net	965,217	611,787
Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,603,383	1,238,618
Less: accumulated depreciation	638,166	626,831
Property, plant and equipment, net	965,217	611,787
Land [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Indefinite
Property, plant and equipment, gross	34,389	31,890
Land [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Indefinite
Property, plant and equipment, gross	34,389	31,890
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	13,249	12,812
Land Improvements [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	13,249	12,812
Buildings And Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Property, plant and equipment, gross	71,923	68,492
Buildings And Improvements [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Property, plant and equipment, gross	71,923	68,492
Vehicles, Including Transport Trailers [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	228,646	95,701
Vehicles, Including Transport Trailers [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	228,646	95,701
Bulk Equipment And District Facilities [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	111,657	109,739
Bulk Equipment And District Facilities [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	111,657	109,739
Tanks, Cylinders And Customer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	772,904	772,402
Tanks, Cylinders And Customer Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	772,904	772,402
Salt water disposal wells [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	38,460	24,288
Salt water disposal wells [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	38,460	24,288
Rail cars [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Property, plant and equipment, gross	150,235	0
Rail cars [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years
Property, plant and equipment, gross	150,235	0
Computer And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	123,386	116,265
Computer And Office Equipment [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	123,386	116,265
Injection stations [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Property, plant and equipment, gross	37,619	0
Injection stations [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Property, plant and equipment, gross	37,619	0
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	16,841	7,029
Construction In Progress [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	16,841	7,029
Pipelines [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Property, plant and equipment, gross	4,074	0
Pipelines [Member] \| Ferrellgas, L.P. [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Property, plant and equipment, gross	$ 4,074	$ 0
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, 2015	Jul. 31, 2014
Accrued interest	$ 17,281	$ 12,182
Accrued payroll	17,485	37,120
Customer deposits and advances	28,792	25,412
Derivative Liability, Current	31,450	83
Other	85,679	50,364
Other current liabilities	180,687	125,161
Ferrellgas, L.P. [Member]
Accrued interest	15,275	10,176
Accrued payroll	17,485	37,120
Customer deposits and advances	28,792	25,412
Derivative Liability, Current	31,450	83
Other	83,174	50,362
Other current liabilities	$ 176,176	$ 123,153

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References+ Details

Supplemental Financial Statement Information (Shipping And Handling Expenses) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	$ 201,899	$ 212,635	$ 201,704
Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	201,899	212,635	201,704
Operating Expense [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	174,105	190,999	181,932
Operating Expense [Member] \| Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	174,105	190,999	181,932
Depreciation And Amortization Expense [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	5,127	5,829	5,744
Depreciation And Amortization Expense [Member] \| Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	5,127	5,829	5,744
Equipment Lease Expense [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	22,667	15,807	14,028
Equipment Lease Expense [Member] \| Ferrellgas, L.P. [Member]
Condensed Financial Statements, Captions [Line Items]
Shipping and handling expenses	$ 22,667	$ 15,807	$ 14,028

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, 2015	Jul. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable pledged as collateral	$ 123,791,000	$ 159,003,000
Ferrellgas, L.P. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable pledged as collateral	123,791,000	159,003,000
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	123,800,000	159,000,000
Available proceeds from additional trade accounts receivable	0	0
Weighted average discount rate to value the retained interest in the transferred receivables	2.30%	2.10%
Note payable	70,000,000	91,000,000
Proceeds from Accounts Receivable Securitization	70,000,000	91,000,000
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	123,800,000	159,000,000
Available proceeds from additional trade accounts receivable	0	0
Weighted average discount rate to value the retained interest in the transferred receivables	2.30%	2.10%
Note payable	70,000,000	91,000,000
Proceeds from Accounts Receivable Securitization	70,000,000	91,000,000
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, 2015	Jul. 31, 2014
Accounts receivable pledged as collateral	$ 123,791,000	$ 159,003,000
Accounts receivable	77,636,000	24,108,000
Other	307,000	247,000
Less: Allowance for doubtful accounts	(4,816,000)	(4,756,000)
Accounts and notes receivable, net	196,918,000	178,602,000
Ferrellgas, L.P. [Member]
Accounts receivable pledged as collateral	123,791,000	159,003,000
Accounts receivable	77,636,000	24,108,000
Other	307,000	247,000
Less: Allowance for doubtful accounts	(4,816,000)	(4,756,000)
Accounts and notes receivable, net	$ 196,918,000	$ 178,602,000

Goodwill And Intangible Assets, Net (Narrative) (Details)	12 Months Ended
	Jul. 31, 2015
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	14 years
Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	6 years
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	5 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] \| Customer Lists [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	12 years
Ferrellgas, L.P. [Member] \| Customer Lists [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset useful life	15 years
Ferrellgas, L.P. [Member] \| Permits and favorable lease arrangements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	14 years
Ferrellgas, L.P. [Member] \| Non-Compete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	6 years
Ferrellgas, L.P. [Member] \| Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible asset, weighted average useful life	5 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, 2015	Jul. 31, 2014
Goodwill, gross carrying amount	$ 478,747	$ 273,210
Goodwill, net	478,747	273,210
Amortizable intangible assets, gross carrying amount	886,967	583,893
Amortizable intangible assets, accumulated amortization	(375,119)	(370,108)
Amortizable intangible assets, net	511,848	213,785
Intangible assets gross excluding goodwill	955,162	646,279
Intangible assets amortization and impairment net excluding goodwill	(375,119)	(370,108)
Intangible assets net excluding goodwill	580,043	276,171
Ferrellgas, L.P. [Member]
Goodwill, gross carrying amount	478,747	273,210
Goodwill, net	478,747	273,210
Amortizable intangible assets, gross carrying amount	886,967	583,893
Amortizable intangible assets, accumulated amortization	(375,119)	(370,108)
Amortizable intangible assets, net	511,848	213,785
Intangible assets gross excluding goodwill	955,162	646,279
Intangible assets amortization and impairment net excluding goodwill	(375,119)	(370,108)
Intangible assets net excluding goodwill	580,043	276,171
Trade Names And Trademarks [Member]
Indefinite-lived intangible assets (excluding goodwill)	68,195	62,386
Trade Names And Trademarks [Member] \| Ferrellgas, L.P. [Member]
Indefinite-lived intangible assets (excluding goodwill)	68,195	62,386
Customer Lists [Member]
Amortizable intangible assets, gross carrying amount	807,122	500,100
Amortizable intangible assets, accumulated amortization	(349,719)	(322,277)
Amortizable intangible assets, net	457,403	177,823
Customer Lists [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	807,122	500,100
Amortizable intangible assets, accumulated amortization	(349,719)	(322,277)
Amortizable intangible assets, net	457,403	177,823
Non-Compete Agreements [Member]
Amortizable intangible assets, gross carrying amount	53,711	63,933
Amortizable intangible assets, accumulated amortization	(18,730)	(43,120)
Amortizable intangible assets, net	34,981	20,813
Non-Compete Agreements [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	53,711	63,933
Amortizable intangible assets, accumulated amortization	(18,730)	(43,120)
Amortizable intangible assets, net	34,981	20,813
Permits and favorable lease arrangements [Member]
Amortizable intangible assets, gross carrying amount	16,952	10,683
Amortizable intangible assets, accumulated amortization	(1,173)	(119)
Amortizable intangible assets, net	15,779	10,564
Permits and favorable lease arrangements [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	16,952	10,683
Amortizable intangible assets, accumulated amortization	(1,173)	(119)
Amortizable intangible assets, net	15,779	10,564
Other Intangible Assets [Member]
Amortizable intangible assets, gross carrying amount	9,182	9,177
Amortizable intangible assets, accumulated amortization	(5,497)	(4,592)
Amortizable intangible assets, net	3,685	4,585
Other Intangible Assets [Member] \| Ferrellgas, L.P. [Member]
Amortizable intangible assets, gross carrying amount	9,182	9,177
Amortizable intangible assets, accumulated amortization	(5,497)	(4,592)
Amortizable intangible assets, net	$ 3,685	$ 4,585

Goodwill And Intangible Assets, Net Goodwill And Intangible Assets, Net (Goodwill Rollforward) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 273,210
Goodwill acquisitions	205,670	19,879
Other	(133)	(31)
Goodwill, ending balance	478,747	273,210
Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	273,210
Goodwill acquisitions	205,670	19,879
Other	(133)	(31)
Goodwill, ending balance	478,747	273,210
Propane and related equipment sales [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	256,253	253,362
Goodwill acquisitions	0	2,922	4,640
Other	(133)	(31)
Goodwill, ending balance	256,120	256,253	253,362
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	256,253	253,362
Goodwill acquisitions	0	2,922	4,640
Other	(133)	(31)
Goodwill, ending balance	256,120	256,253	253,362
Midstream Operations - Water Solutions [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	16,957	0
Goodwill acquisitions	12,359	16,957
Other	0	0
Goodwill, ending balance	29,316	16,957
Midstream Operations - Water Solutions [Member] \| Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	16,957	0
Goodwill acquisitions	12,359	16,957	0
Other	0	0
Goodwill, ending balance	29,316	16,957	0
Midstream - Crude Oil Logistics [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	0	0
Goodwill acquisitions	193,311	0
Other	0	0
Goodwill, ending balance	193,311	0
Midstream - Crude Oil Logistics [Member] \| Ferrellgas, L.P. [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	0	0
Goodwill acquisitions	193,311	0
Other	0	0
Goodwill, ending balance	$ 193,311	$ 0

Goodwill And Intangible Assets, Net (Estimated Amortization Expense) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015
2015	$ 61,788
2016	61,212
2017	57,546
2018	51,297
2019	45,588
Ferrellgas, L.P. [Member]
2015	61,788
2016	61,212
2017	57,546
2018	51,297
2019	$ 45,588

Debt (Components Of Long-Term Debt) (Details) (USD $)	12 Months Ended
Debt (Components Of Long-Term Debt) (Details) (USD $)	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Schedule of Capitalization, Long-term Debt [Line Items]
Total long-term debt	$ 1,808,044,000	$ 1,295,837,000
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,652,000	3,623,000
Long-term debt	1,804,392,000	1,292,214,000
Short-term borrowings	75,319,000	69,519,000
Interest Paid	91,783,000	90,820,000	84,030,000
Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Total long-term debt	1,626,044,000	1,113,837,000
Less: current portion, included in other current liabilities on the consolidated balance sheets	3,652,000	3,623,000
Long-term debt	1,622,392,000	1,110,214,000
Short-term borrowings	75,319,000	69,519,000
Interest Paid	76,085,000	75,121,000	68,334,000
Fixed Rate Six Point Seven Five Due Two Thousand Twenty Three [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	500,000,000	0
Fixed Rate Six Point Seven Five Due Two Thousand Twenty Three [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	500,000,000	0
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt instrument, fixed interest rate	9.125%
Debt instrument, maturity year	2017
Unamortized discount	0	0
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]
Debt instrument, fixed interest rate	9.125%
Debt instrument, maturity year	2017
Unamortized discount	0	0
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	479,906,000	480,863,000
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Nov. 01, 2022
Debt Instrument, Unamortized Premium	4,906,000	5,863,000
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	479,906,000	480,863,000
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Nov. 01, 2022
Debt Instrument, Unamortized Premium	4,906,000	5,863,000
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	876,000	(2,534,000)
Interest Rate Swap [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Senior notes	876,000	(2,534,000)
Secured Credit Facility [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Line of credit facility	136,081,000	123,781,000
Debt Instrument, Maturity Date	Oct. 01, 2018
Long-term Line of Credit	211,400,000	193,300,000
Other Long-term Debt, Noncurrent	136,100,000	123,800,000
Debt instrument, maturity year	2018
Short-term borrowings	75,319,000	69,519,000
Weighted average interest rate of debt	3.50%	3.40%
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	136,081,000	123,781,000
Debt Instrument, Maturity Date	Oct. 01, 2018
Long-term Line of Credit	211,400,000	193,300,000
Other Long-term Debt, Noncurrent	136,100,000	123,800,000
Debt instrument, maturity year	2018
Short-term borrowings	75,319,000	69,519,000
Weighted average interest rate of debt	3.50%	3.40%
Write off of Deferred Debt Issuance Cost	300,000
Notes Payable [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Notes payable	9,181,000	11,727,000
Unamortized discount	1,914,000	2,239,000
Weighted average interest rate of debt	9.50%	8.80%
Long-term debt, Notes payable due start	2015
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	9,181,000	11,727,000
Unamortized discount	1,914,000	2,392,000
Weighted average interest rate of debt	9.50%	8.80%
Long-term debt, Notes payable due start	2015
Long-term debt, Notes payable due end	2022
Fixed Rate Eight Point Six Two Five Due Two Thousand Twenty [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Issuance Date	Apr. 13, 2010
Debt Instrument, Face Amount	280,000,000.0
Debt Instrument, Frequency of Periodic Payment	semi-annually
Debt instrument prepayment penalty prior to date	2018
Debt Instrument, Principal Amount Redeemed	98,000,000
Fixed Rate Nine Point One Two Five Percentage Due Two Thousand Seventeen [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Derivative, Cost of Hedge	200,000
Debt Instrument, Issuance Date	Jun. 06, 2014
Debt Instrument, Face Amount	150,000,000
Debt instrument, fixed interest rate	9.125%
Debt Instrument, Maturity Date	Oct. 01, 2017
Debt Instrument, Repurchased Face Amount	300,000,000
Payments of Debt Extinguishment Costs	14,700,000
Interest Paid	3,300,000
Write off of Deferred Debt Issuance Cost	6,000,000
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]
Derivative, Cost of Hedge	200,000
Debt Instrument, Issuance Date	Jun. 06, 2014
Debt Instrument, Face Amount	150,000,000
Debt instrument, fixed interest rate	9.125%
Debt Instrument, Maturity Date	Oct. 01, 2017
Debt Instrument, Repurchased Face Amount	300,000,000
Payments of Debt Extinguishment Costs	14,700,000
Interest Paid	3,300,000
Write off of Deferred Debt Issuance Cost	6,000,000
Fixed Rate Six Point Seven Five Due Two Thousand twenty Two [Domain]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 04, 2013
Debt Instrument, Face Amount	325,000,000
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Nov. 01, 2022
Proceeds from Issuance of Unsecured Debt	319,300,000
Debt issued premium, percent of par	104.00%
Fixed Rate Six Point Seven Five Due Two Thousand twenty Two [Domain] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 04, 2013
Debt Instrument, Face Amount	325,000,000
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Nov. 01, 2022
Proceeds from Issuance of Unsecured Debt	319,300,000
Debt issued premium, percent of par	104.00%
Fixed Rate Six Point Five Zero Due Two Thousand Twenty One [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 06, 2010
Debt Instrument, Face Amount	500,000,000.0
Debt instrument, fixed 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]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 06, 2010
Debt Instrument, Face Amount	500,000,000.0
Debt instrument, fixed 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 Seven Five Due Two Thousand Twenty Three [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Face Amount	500,000,000
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Jun. 01, 2023
Proceeds from Debt, Net of Issuance Costs	491,300,000
Fixed Rate Six Point Seven Five Due Two Thousand Twenty Three [Member] \| Ferrellgas, L.P. [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Debt Instrument, Face Amount	500,000,000
Debt instrument, fixed interest rate	6.75%
Debt Instrument, Maturity Date	Jun. 01, 2023
Proceeds from Debt, Net of Issuance Costs	$ 491,300,000

Debt (Senior Notes Narrative) (Details) (USD $)	12 Months Ended
Debt (Senior Notes Narrative) (Details) (USD $)	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Interest Paid	$ 91,783,000	$ 90,820,000	$ 84,030,000
Ferrellgas, L.P. [Member]
Interest Paid	76,085,000	75,121,000	68,334,000
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, 2015	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2015 Ferrellgas, L.P. [Member]	Jul. 31, 2014 Ferrellgas, L.P. [Member]	Jul. 31, 2013 Ferrellgas, L.P. [Member]	Jul. 31, 2015 Letter Of Credit [Member]	Jul. 31, 2015 Letter Of Credit [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Secured Credit Facility [Member]	Jul. 31, 2014 Secured Credit Facility [Member]	Jan. 31, 2015 Secured Credit Facility [Member]	Jul. 31, 2015 Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jan. 31, 2015 Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Federal Funds Rate [Member]	Jul. 31, 2014 Federal Funds Rate [Member]	Jul. 31, 2015 Federal Funds Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Federal Funds Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Federal Funds Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2015 Federal Funds Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Eurodollar Rate Loan [Member] Secured Credit Facility [Member]	Jul. 31, 2015 Eurodollar Rate Loan [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2014 Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2015 Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Bank Of America's Prime Rate [Member]	Jul. 31, 2014 Bank Of America's Prime Rate [Member]	Jul. 31, 2015 Bank Of America's Prime Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Bank Of America's Prime Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 One Month Eurodollar Rate [Member]	Jul. 31, 2014 One Month Eurodollar Rate [Member]	Jul. 31, 2015 One Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 One Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Three-Month Eurodollar Rate [Member]	Jul. 31, 2014 Three-Month Eurodollar Rate [Member]	Jul. 31, 2015 Three-Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Three-Month Eurodollar Rate [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Minimum [Member]	Jul. 31, 2015 Minimum [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Minimum [Member] Secured Credit Facility [Member]	Jul. 31, 2015 Minimum [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Minimum [Member] Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2015 Minimum [Member] Euro Rate [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Maximum [Member]	Jul. 31, 2015 Maximum [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Maximum [Member] Secured Credit Facility [Member]	Jul. 31, 2015 Maximum [Member] Secured Credit Facility [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 Maximum [Member] Euro Rate [Member] Secured Credit Facility [Member]	Jul. 31, 2015 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															0.14%	0.09%	0.14%	0.09%									3.25%	3.25%	3.25%	3.25%	0.19%	0.17%	0.19%	0.17%	0.33%	0.24%	0.33%	0.24%
Total borrowings outstanding, line of credit facility									211.4	193.3		211.4	193.3
Amount classified as long-term debt									136.1	123.8		136.1	123.8
Weighted average interest rate of debt									3.50%	3.40%		3.50%	3.40%
Debt instrument, basis spread rate									1.50%	1.25%		1.50%	1.25%						0.50%	0.50%	1.00%	1.00%	2.50%	2.25%	2.50%	2.25%															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	61.2	56.3		61.2	56.3
Letter of credit facility, remaining capacity	138.8	143.7		138.8	143.7
Line of credit facility, commitment fee	$ 1.5	$ 1.2	$ 0.9	$ 1.5	$ 1.2	$ 0.9

Debt (Interest Rate Swaps Narrative) (Details) (USD $)	12 Months Ended
Debt (Interest Rate Swaps Narrative) (Details) (USD $)	Jul. 31, 2015
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
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
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] \| 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
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 Leg1 [Member] \| Ferrellgas, L.P. [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 Leg1 [Member] \| One Month Eurodollar Rate [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
Interest Rate Cash Flow Hedge Leg1 [Member] \| One Month Eurodollar Rate [Member] \| Ferrellgas, L.P. [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
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
Interest Rate Cash Flow Hedge Leg2 [Member] \| Ferrellgas, L.P. [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
Interest Rate Cash Flow Hedge Leg2 [Member] \| One Month Eurodollar Rate [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR
Interest Rate Cash Flow Hedge Leg2 [Member] \| One Month Eurodollar Rate [Member] \| Ferrellgas, L.P. [Member] \| Secured Credit Facility And Collateralized Note Payables [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate	one-month LIBOR

Debt (Scheduled Annual Principal Payments On Long-term Debt) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015
2015	$ 3,652
2016	3,241
2017	1,719
2018	1,204
2019	136,429
Thereafter	1,657,931
Total long-term debt	1,804,176
Ferrellgas, L.P. [Member]
2015	3,652
2016	3,241
2017	1,719
2018	1,204
2019	136,429
Thereafter	1,475,931
Total long-term debt	$ 1,622,176

Partners' Capital (Narrative) (Details) (USD $)	12 Months Ended									12 Months Ended			12 Months Ended							0 Months Ended							12 Months Ended	0 Months Ended	12 Months Ended
Partners' Capital (Narrative) (Details) (USD $)	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2015 Ferrellgas, L.P. [Member]	Jul. 31, 2015 Ferrell Companies [Member]	Jul. 31, 2015 FCI Trading Corp. [Member]	Jul. 31, 2014 FCI Trading Corp. [Member]	Jul. 31, 2015 Ferrell Propane, Inc. [Member]	Jul. 31, 2014 Ferrell Propane, Inc. [Member]	Jul. 31, 2015 Ferrell Companies Beneficial Ownership [Member]	Jul. 31, 2015 JEF Capital Management [Member]	Jul. 31, 2015 Ferrell Resources Holdings, Inc. [Member]	Jul. 31, 2015 Ferrellgas Partners [Member]	Jul. 31, 2015 Ferrellgas Partners [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Ferrellgas Partners [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2015 General Partner [Member]	Jul. 31, 2014 General Partner [Member]	Jul. 31, 2015 General Partner [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 General Partner [Member] Ferrellgas, L.P. [Member]	Sep. 14, 2015 Subsequent Event [Member]	Aug. 20, 2015 Subsequent Event [Member]	Sep. 14, 2015 Subsequent Event [Member] Ferrellgas, L.P. [Member]	Aug. 20, 2015 Subsequent Event [Member] Ferrellgas, L.P. [Member]	Sep. 14, 2015 Subsequent Event [Member] Ferrell Companies [Member]	Sep. 14, 2015 Subsequent Event [Member] FCI Trading Corp. [Member]	Sep. 14, 2015 Subsequent Event [Member] Ferrell Propane, Inc. [Member]	Jul. 31, 2014 Subsequent Event [Member] Ferrellgas Partners [Member] Ferrellgas, L.P. [Member]	Sep. 14, 2015 Subsequent Event [Member] General Partner [Member]	Jul. 31, 2014 Subsequent Event [Member] General Partner [Member] Ferrellgas, L.P. [Member]
Capital Unit [Line Items]
Distribution Made to Limited Partner, Cash Distributions Paid				$ 418,900,000
General Partners' Cumulative Cash Distributions				4,300,000
Limited partner ownership interest					22.40%					22.70%			98.00%
Common unitholders, units outstanding	100,376,789	81,228,237				195,686	195,686	51,204	51,204		4,758,859	4,616
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. 20, 2015		Aug. 20, 2015
Distribution Made to Limited Partner, Cash Distributions Declared																								11,546,000	100,000	26,000	52,000,000	520,000	500,000
Cash distributions declared per common unit																					$ 0.5125
Cash distributions, payment date																				Sep. 14, 2015		Sep. 14, 2015
Cash contributions from limited partner														42,200,000
Stock Issued During Period, Shares, Treasury Stock Reissued	1,500,000	2,000,000
Stock Issued During Period, Value, Other	42,000,000	50,000,000
Offering of common units, shares	6,300,000
Proceeds from offering of common units	139,100,000
Stock issued during the period for acquisition, shares	11,300,000	100,000
Stock issued during the period for acquisition, value	260,000,000	1,500,000
Cash received from contributions	4,456,000	511,000	9,000													13,300,000	1,100,000	400,000	500,000
Non-cash contributions														3,000,000	1,500,000	1,000,000	900,000	500,000	500,000
Asset contribution				822,500,000
General Partners' Contributed Capital				$ 8,400,000

Partners' Capital (Ferrellgas Paid Cash Distributions) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Limited Partners' Capital Account [Line Items]
Distributions	$ 167,105	$ 160,925	$ 159,682
Public Common Unitholders [Member]
Limited Partners' Capital Account [Line Items]
Distributions	111,163	107,164	105,934
Ferrell Companies [Member]
Limited Partners' Capital Account [Line Items]
Distributions	45,059	42,939	42,939
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	1,670	1,609	1,596
General Partner [Member] \| Ferrellgas, L.P. [Member]
Limited Partners' Capital Account [Line Items]
Distributions	1,864	1,803	1,790
Ferrellgas Partners [Member] \| Ferrellgas, L.P. [Member]
Limited Partners' Capital Account [Line Items]
Distributions	$ 182,803	$ 176,623	$ 175,380

Partners' Capital (Dividends Expected To Be Paid To Related Parties) (Details) (Subsequent Event [Member], USD $) In Thousands, unless otherwise specified	0 Months Ended
	Sep. 14, 2015
Ferrell Companies [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 11,546
FCI Trading Corp. [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	100
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	2,441
James H. Ballengee [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	4,890
General Partner [Member]
Distribution Expected To Be Made to Member or Limited Partner [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 520

Fair Value Measurements (Assets And Liabilities Fair Value Hierarchy) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015	Jul. 31, 2014
Interest rate swap assets	$ 1,828	$ 2,101
Commodity derivatives propane swap assets	4,655	7,006
Interest rate swap liabilities	(4,748)	(5,075)
Commodity derivatives propane swap liabilities	(42,375)	(83)
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(100)	(6,400)
Ferrellgas, L.P. [Member]
Interest rate swap assets	1,828	2,101
Commodity derivatives propane swap assets	4,655	7,006
Interest rate swap liabilities	(4,748)	(5,075)
Commodity derivatives propane swap liabilities	(42,375)	(83)
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(100)	(6,400)
Level 2 [Member]
Interest rate swap assets	1,828	2,101
Commodity derivatives propane swap assets	4,655	7,006
Interest rate swap liabilities	(4,748)	(5,075)
Commodity derivatives propane swap liabilities	(42,375)	(83)
Level 2 [Member] \| Ferrellgas, L.P. [Member]
Interest rate swap assets	1,828	2,101
Commodity derivatives propane swap assets	4,655	7,006
Interest rate swap liabilities	(4,748)	(5,075)
Commodity derivatives propane swap liabilities	(42,375)	(83)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(100)	(6,400)
Fair Value, Inputs, Level 3 [Member] \| Ferrellgas, L.P. [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ (100)	$ (6,400)

Fair Value Measurements Fair Value Measurements (Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ 6,400
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	100
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	6,400
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	100
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	(400)
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	(400)
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	6,700
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	$ 6,700

Fair Value Measurements Fair Value Measurements (Fair Value Inputs, Liabilities, Quantitative Information) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Business Combination, Contingent Consideration, Liability	$ 100	$ 6,400
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	5.00%
Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	80.00%
Ferrellgas, L.P. [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Business Combination, Contingent Consideration, Liability	$ 100	$ 6,400
Fair Value Measurements, Valuation Techniques	Discounted cash flow
Weighted Average of Unobservable Input	20.00%
Ferrellgas, L.P. [Member] \| Minimum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	5.00%
Ferrellgas, L.P. [Member] \| Maximum [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range of Unobservable Inputs	80.00%

Fair Value Measurements Fair Value Measurements (Sensitivity of Unobservable Inputs) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015
5% increase, WACC [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	$ (10)
5% decrease, WACC [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	0
10% increase, earnings forecast [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	200
10% decrease, earnings forecast [Member]
Sensitivity of Unobservable Inputs [Line Items]
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings	(100)
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	(10)
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	0
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	200
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	$ (100)

Derivative Instruments and Hedging Activities (Narrative) (Details) (USD $)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Derivative [Line Items]
gain or loss in earnings related to hedge ineffectiveness	$ (200,000)	$ 0
Reclassification of net gain to earnings during next 12 months	24,300,000
Reclassification of gain (loss) to earnings from discontinuance of cash flow hedges	0	0
Derivative amount of credit risk	0
Derivative, Net Liability Position, Aggregate Fair Value	400,000
Collateral Already Posted, Aggregate Fair Value	0
Additional Collateral, Aggregate Fair Value	400,000
Ferrellgas, L.P. [Member]
Derivative [Line Items]
gain or loss in earnings related to hedge ineffectiveness	200,000.0	0
Reclassification of net gain to earnings during next 12 months	(24,300,000)
Reclassification of gain (loss) to earnings from discontinuance of cash flow hedges	0	0
Number of barrels of propane covered by cash flow hedges	2,900,000
Derivative amount of credit risk	0
Derivative, Net Liability Position, Aggregate Fair Value	400,000
Collateral Already Posted, Aggregate Fair Value	0
Additional Collateral, Aggregate Fair Value	$ 0
Diesel fuel [Member]
Derivative [Line Items]
Number of barrels of propane covered by cash flow hedges	300,000
Diesel fuel [Member] \| Ferrellgas, L.P. [Member]
Derivative [Line Items]
Number of barrels of propane covered by cash flow hedges	300,000
Propane [Member]
Derivative [Line Items]
Number of barrels of propane covered by cash flow hedges	2,900,000
Unleaded gasoline [Member]
Derivative [Line Items]
Number of barrels of propane covered by cash flow hedges	100,000
Unleaded gasoline [Member] \| Ferrellgas, L.P. [Member]
Derivative [Line Items]
Number of barrels of propane covered by cash flow hedges	100,000

Derivative Instruments and Hedging Activities (Fair Value of Financial Derivatives Balance Sheet Locations) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015	Jul. 31, 2014
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	$ 4,655	$ 7,006
Interest Rate Derivative Assets, at Fair Value	1,828	2,101
Derivative Asset, Fair Value, Gross Asset	6,483	9,107
Derivatives - Price risk management liabilities	42,375	83
Interest Rate Derivative Liabilities, at Fair Value	4,748	5,075
Derivative Liability, Fair Value, Gross Liability	47,123	5,158
Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	4,655	7,006
Interest Rate Derivative Assets, at Fair Value	1,828	2,101
Derivative Asset, Fair Value, Gross Asset	6,483	9,107
Derivatives - Price risk management liabilities	42,375	83
Interest Rate Derivative Liabilities, at Fair Value	4,748	5,075
Derivative Liability, Fair Value, Gross Liability	47,123	5,158
Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	3,614	5,301
Interest Rate Derivative Assets, at Fair Value	1,828	2,101
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	0
Prepaid Expenses and Other Current Assets [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	3,614	5,301
Interest Rate Derivative Assets, at Fair Value	1,828	2,101
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	0
Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	27,929	83
Interest Rate Derivative Liabilities, at Fair Value	2,241	0
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	1,280
Other Current Liabilities [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	27,929	83
Interest Rate Derivative Liabilities, at Fair Value	2,241	0
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	1,280
Other Assets, Net [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	1,041	1,705
Interest Rate Derivative Assets, at Fair Value	0	0
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	0
Other Assets, Net [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management assets	1,041	1,705
Interest Rate Derivative Assets, at Fair Value	0	0
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	0
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	12,034	0
Interest Rate Derivative Liabilities, at Fair Value	2,507	5,075
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	1,132
Other Liabilities [Member] \| Ferrellgas, L.P. [Member]
Derivatives, Fair Value [Line Items]
Derivatives - Price risk management liabilities	12,034	0
Interest Rate Derivative Liabilities, at Fair Value	2,507	5,075
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	$ 1,132

Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement.

+ References+ Details

Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement.

+ References+ Details

Derivative Instruments and Hedging Activities Derivative Instruments and Hedging Activities (Schedule of Derivative Collateral) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015	Jul. 31, 2014
Derivative Asset, Fair Value of Collateral	$ 29,795	$ 345
Derivative Liability, Fair Value of Collateral	15	0
Prepaid Expenses and Other Current Assets [Member]
Derivative Asset, Fair Value of Collateral	18,009	156
Other Current Liabilities [Member]
Derivative Liability, Fair Value of Collateral	15	0
Other Assets, Net [Member]
Derivative Asset, Fair Value of Collateral	11,786	189
Other Liabilities [Member]
Derivative Liability, Fair Value of Collateral	0	0
Ferrellgas, L.P. [Member]
Derivative Asset, Fair Value of Collateral	29,795	345
Derivative Liability, Fair Value of Collateral	15	0
Ferrellgas, L.P. [Member] \| Prepaid Expenses and Other Current Assets [Member]
Derivative Asset, Fair Value of Collateral	18,009	156
Ferrellgas, L.P. [Member] \| Other Current Liabilities [Member]
Derivative Liability, Fair Value of Collateral	15	0
Ferrellgas, L.P. [Member] \| Other Assets, Net [Member]
Derivative Asset, Fair Value of Collateral	11,786	189
Ferrellgas, L.P. [Member] \| Other Liabilities [Member]
Derivative Liability, Fair Value of Collateral	$ 0	$ 0

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, 2015	Jul. 31, 2014	Jul. 31, 2013
Derivative [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	$ (73,647)	$ 14,592
Amount of gain (loss) reclassified from AOCI into income	(28,258)	10,175
Derivative [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(73,647)	14,592
Amount of gain (loss) reclassified from AOCI into income	(28,258)	10,175
Commodity Derivatives Propane [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(70,291)	15,473	2,032
Amount of gain (loss) reclassified from AOCI into income	(28,059)	10,175	(10,613)
Commodity Derivatives Propane [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(70,291)	15,473	2,032
Amount of gain (loss) reclassified from AOCI into income	(28,059)	10,175	(10,613)
Interest Rate Swap [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(3,356)	(881)	2,220
Interest Rate Swap [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) recognized in AOCI(L) on derivative	(3,356)	(881)	2,220
Cost of Sales [Member] \| Commodity Derivatives Propane [Member]
Amount of gain (loss) reclassified from AOCI into income	(28,059)	10,175
Cost of Sales [Member] \| Commodity Derivatives Propane [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) reclassified from AOCI into income	(28,059)	10,175
Interest Expense [Member] \| Interest Rate Swap [Member]
Amount of gain (loss) reclassified from AOCI into income	(199)	0
Interest Expense [Member] \| Interest Rate Swap [Member] \| Ferrellgas, L.P. [Member]
Amount of gain (loss) reclassified from AOCI into income	$ (199)	$ 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, 2015	Jul. 31, 2014	Jul. 31, 2013	Jul. 31, 2015 Ferrellgas, L.P. [Member]	Jul. 31, 2014 Ferrellgas, L.P. [Member]	Jul. 31, 2013 Ferrellgas, L.P. [Member]	Jul. 31, 2015 Commodity Derivatives Propane [Member]	Jul. 31, 2014 Commodity Derivatives Propane [Member]	Jul. 31, 2013 Commodity Derivatives Propane [Member]	Jul. 31, 2015 Commodity Derivatives Propane [Member] Ferrellgas, L.P. [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, 2015 Interest Rate Swap [Member]	Jul. 31, 2014 Interest Rate Swap [Member]	Jul. 31, 2013 Interest Rate Swap [Member]	Jul. 31, 2015 Interest Rate Swap [Member] Ferrellgas, L.P. [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, 2015 Derivative [Member]	Jul. 31, 2014 Derivative [Member]	Jul. 31, 2012 Derivative [Member]	Jul. 31, 2015 Derivative [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2014 Derivative [Member] Ferrellgas, L.P. [Member]	Jul. 31, 2012 Derivative [Member] Ferrellgas, L.P. [Member]
Beginning balance	$ 6,181			$ 6,258															$ 6,483	$ 2,066	$ (12,799)	$ 6,483	$ 2,066	$ (12,799)
Change in value on risk management derivatives							(70,291)	15,473	2,032	(70,291)	15,473	2,032	(3,356)	(881)	2,220	(3,356)	(881)	2,220	(73,647)	14,592		(73,647)	14,592
Reclassification of gains and losses of commodity hedges to cost of product sold - propane and other gas liquids sales							28,059	(10,175)	10,613	28,059	(10,175)	10,613							28,258	(10,175)		28,258	(10,175)
Ending balance	(38,934)	6,181		(39,318)	6,258														(38,906)	6,483	(12,799)	(38,906)	6,483	(12,799)
Derivative, Net Hedge Ineffectiveness Gain (Loss)	$ 199	$ 0	$ 0	$ 199	$ 0	$ 0

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 (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jul. 31, 2015
Number of employees	0
Ferrellgas, L.P. [Member]
Number of employees	0
James H. Ballengee [Member]
Limited partner ownership interest	9.50%
James H. Ballengee [Member] \| Ferrellgas, L.P. [Member]
Limited partner ownership interest	9.50%
Jamex Marketing, LLC [Member]
Revenues	$ 9.4
Related Party Costs	8.4
Accounts Receivable, Related Parties	4.8
Accounts Payable, Related Parties	4.2
Jamex Marketing, LLC [Member] \| Ferrellgas, L.P. [Member]
Revenues	9.4
Related Party Costs	8.4
Accounts Receivable, Related Parties	4.8
Accounts Payable, Related Parties	$ 4.2

For an unclassified balance sheet, amount of receivables arising from transactions with related parties.

+ References+ Details

Transactions With Related Parties (Allocation Of Transactions With Related Parties) (Details) (USD $)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Related Party Transaction [Line Items]
General and administrative expense	$ 77,238,000	$ 65,156,000	$ 53,181,000
Ferrellgas, L.P. [Member]
Related Party Transaction [Line Items]
General and administrative expense	77,238,000	65,156,000	53,181,000
Compensation And Benefits [Member]
Related Party Transaction [Line Items]
Operating expense	217,742,000	216,657,000	203,859,000
General and administrative expense	27,278,000	32,119,000	30,053,000
Compensation And Benefits [Member] \| Ferrellgas, L.P. [Member]
Related Party Transaction [Line Items]
Operating expense	217,742,000	216,657,000	203,859,000
General and administrative expense	$ 27,278,000	$ 32,119,000	$ 30,053,000

Contingencies And Commitments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Litigation Settlement, Amount	$ 10.4
Ferrellgas, L.P. [Member]
Litigation Settlement, Amount	10.4
Transportation Equipment [Member]
Transportation equipment lease expiration period	7 years
Guarantees Residual Value, Fair Value Disclosure	1.5
Guarantor Obligations, Maximum Exposure, Undiscounted	7.0
Transportation Equipment [Member] \| Ferrellgas, L.P. [Member]
Transportation equipment lease expiration period	7 years
Guarantees Residual Value, Fair Value Disclosure	1.5
Guarantor Obligations, Maximum Exposure, Undiscounted	7.0
Property And Equipment [Member]
Non-cancelable operating leases, expiration year	2026
Rental expense	45.0	35.6	32.2
Property And Equipment [Member] \| Ferrellgas, L.P. [Member]
Non-cancelable operating leases, expiration year	2026
Rental expense	$ 45.0	$ 35.6	$ 32.2

Contingencies And Commitments (Contractual Operating Lease Commitments And Buyouts) (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2015
Operating Lease Obligations [Member]
Operating Leased Assets [Line Items]
2015	$ 39,999
2016	31,497
2017	25,599
2018	20,084
2019	14,402
Thereafter	16,078
Operating Lease Obligations [Member] \| Ferrellgas, L.P. [Member]
Operating Leased Assets [Line Items]
2015	39,999
2016	31,497
2017	25,599
2018	20,084
2019	14,402
Thereafter	16,078
Operating Lease Buyouts [Member]
Operating Leased Assets [Line Items]
2015	2,738
2016	1,816
2017	3,217
2018	3,011
2019	2,693
Thereafter	9,355
Operating Lease Buyouts [Member] \| Ferrellgas, L.P. [Member]
Operating Leased Assets [Line Items]
2015	2,738
2016	1,816
2017	3,217
2018	3,011
2019	2,693
Thereafter	$ 9,355

Employee Benefits (Details) (USD $)	12 Months Ended
Employee Benefits (Details) (USD $)	Jul. 31, 2015 employee	Jul. 31, 2014	Jul. 31, 2013
Number of employees	0
Non-cash employee stock ownership plan compensation charge	$ 24,713,000	$ 21,789,000	$ 15,769,000
Matching contributions	3,900,000	3,600,000	3,000,000
Defined Benefit Plan, Accumulated Other Comprehensive Income Net Gains (Losses), after Tax	(200,000)	300,000	300,000
Ferrellgas, L.P. [Member]
Number of employees	0
Non-cash employee stock ownership plan compensation charge	24,713,000	21,789,000	15,769,000
Matching contributions	3,900,000	3,600,000	3,000,000
Defined Benefit Plan, Accumulated Other Comprehensive Income Net Gains (Losses), after Tax	$ (200,000)	$ 300,000	$ 300,000

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, 2015	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Earnings Per Share [Abstract]
Common unitholders' interest in net earnings (loss)	$ (58,187)	$ 35,454	$ 84,603	$ (32,546)	$ (47,317)	$ 44,931	$ 59,860	$ (24,595)	$ 29,324	$ 32,879	$ 55,862
Weighted average common units outstanding									84,646,200	79,651,100	79,038,600
Dilutive securities									6,700	20,600	37,000
Weighted Average Number of Shares Outstanding, Basic and Diluted									84,652,900	79,671,700	79,075,600
Basic and diluted net earnings (loss) per common unitholders' interest	$ (0.64)	$ 0.43	$ 0.89	$ (0.40)	$ (0.58)	$ 0.57	$ 0.72	$ (0.31)	$ 0.35	$ 0.41	$ 0.71

Segment Reporting Segment Reporting (Schedule of Segment Reporting Information, by Segment) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Statement [Line Items]
Revenues	$ 2,024,390	$ 2,405,860
Costs and Expenses	1,724,206	2,117,712
Adjusted EBITDA	300,184	288,148
Propane and related equipment sales [Member]
Statement [Line Items]
Revenues	1,917,201	2,398,425
Costs and Expenses	1,591,404	2,067,133
Adjusted EBITDA	325,797	331,292
Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Revenues	81,512	0
Costs and Expenses	72,929	0
Adjusted EBITDA	8,583	0
Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Revenues	25,677	7,435
Costs and Expenses	20,141	3,997
Adjusted EBITDA	5,536	3,438
Corporate and Other [Member]
Statement [Line Items]
Revenues	0	0
Costs and Expenses	39,732	46,582
Adjusted EBITDA	(39,732)	(46,582)
Ferrellgas, L.P. [Member]
Statement [Line Items]
Revenues	2,024,390	2,405,860
Costs and Expenses	1,724,102	2,117,735
Adjusted EBITDA	300,288	288,125
Ferrellgas, L.P. [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Revenues	1,917,201	2,398,425
Costs and Expenses	1,591,300	2,067,156
Adjusted EBITDA	325,901	331,269
Ferrellgas, L.P. [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Revenues	81,512	0
Costs and Expenses	72,929	0
Adjusted EBITDA	8,583	0
Ferrellgas, L.P. [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Revenues	25,677	7,435
Costs and Expenses	20,141	3,997
Adjusted EBITDA	5,536	3,438
Ferrellgas, L.P. [Member] \| Corporate and Other [Member]
Statement [Line Items]
Revenues	0	0
Costs and Expenses	39,732	46,582
Adjusted EBITDA	$ (39,732)	$ (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, 2015
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, 2015	Jul. 31, 2014
Statement [Line Items]
Assets	$ 2,464,056,000	$ 1,572,270,000
Propane and related equipment sales [Member]
Statement [Line Items]
Assets	1,295,831,000	1,400,603,000
Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Assets	917,325,000	0
Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Assets	205,358,000	136,116,000
Corporate and Other [Member]
Statement [Line Items]
Assets	45,542,000	35,551,000
Ferrellgas, L.P. [Member]
Statement [Line Items]
Assets	2,459,962,000	1,569,833,000
Ferrellgas, L.P. [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Assets	1,291,737,000	1,400,603,000
Ferrellgas, L.P. [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Assets	917,325,000	0
Ferrellgas, L.P. [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Assets	205,358,000	136,116,000
Ferrellgas, L.P. [Member] \| Corporate and Other [Member]
Statement [Line Items]
Assets	$ 45,542,000	$ 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, 2015	Jul. 31, 2014
Statement [Line Items]
Capital Expenditures	$ 69,837	$ 50,981
Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	52,978	45,183
Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Capital Expenditures	64	0
Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Capital Expenditures	14,438	1,896
Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	2,357	3,902
Maintenance Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	19,449	18,138
Maintenance Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	16,020	14,682
Maintenance Capital Expenditures [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Capital Expenditures	0	0
Maintenance Capital Expenditures [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Capital Expenditures	1,072	181
Maintenance Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	2,357	3,275
Growth Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	50,388	32,843
Growth Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	36,958	30,501
Growth Capital Expenditures [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Capital Expenditures	64	0
Growth Capital Expenditures [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Capital Expenditures	13,366	1,715
Growth Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	0	627
Ferrellgas, L.P. [Member]
Statement [Line Items]
Capital Expenditures	69,837	50,981
Ferrellgas, L.P. [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	52,978	45,183
Ferrellgas, L.P. [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Capital Expenditures	64	0
Ferrellgas, L.P. [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Capital Expenditures	14,438	1,896
Ferrellgas, L.P. [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	2,357	3,902
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	19,449	18,138
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	16,020	14,682
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Capital Expenditures	0	0
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Capital Expenditures	1,072	181
Ferrellgas, L.P. [Member] \| Maintenance Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	2,357	3,275
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member]
Statement [Line Items]
Capital Expenditures	50,388	32,843
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Propane and related equipment sales [Member]
Statement [Line Items]
Capital Expenditures	36,958	30,501
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Midstream - Crude Oil Logistics [Member]
Statement [Line Items]
Capital Expenditures	64	0
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Midstream Operations - Water Solutions [Member]
Statement [Line Items]
Capital Expenditures	13,366	1,715
Ferrellgas, L.P. [Member] \| Growth Capital Expenditures [Member] \| Corporate and Other [Member]
Statement [Line Items]
Capital Expenditures	$ 0	$ 627

Segment Reporting Segment Reporting (Reconciliation of Consolidated EBITDA to Consolidated Net Earnings) (Details) (USD $)	3 Months Ended								12 Months Ended
	Jul. 31, 2015	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Income (Loss) Attributable to Parent	$ (58,775,000)	$ 35,812,000	$ 85,458,000	$ (32,875,000)	$ (47,795,000)	$ 45,385,000	$ 60,464,000	$ (24,843,000)	$ 29,620,000	$ 33,211,000	$ 56,426,000
Income tax expense									(315,000)	2,516,000	1,855,000
Interest Expense									100,396,000	86,502,000
Depreciation and amortization expense									98,579,000	84,202,000	83,344,000
EBITDA									228,280,000	206,431,000
Loss on extinguishment of debt									0	21,202,000	0
Non-cash employee stock ownership plan compensation charge									(24,713,000)	(21,789,000)	(15,769,000)
Non-cash stock and unit-based compensation charge									25,982,000	24,508,000	13,545,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal									7,099,000	6,486,000
Other Nonoperating Income (Expense)									350,000	479,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability								0	(6,300,000)	5,000,000
Legal Fees									806,000	1,749,000
Estimated Litigation Liability	2,412,000				0				2,412,000	0
Net earnings (loss)	(59,333,000)	36,220,000	86,371,000	(33,169,000)	(48,241,000)	45,890,000	61,123,000	(25,057,000)	30,089,000	33,715,000	57,167,000
Adjusted EBITDA									300,184,000	288,148,000
Non-Controlling Interest [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net earnings (loss)									469,000	504,000	741,000
Midstream - Crude Oil Logistics [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized									16,373,000	0
Adjusted EBITDA									8,583,000	0
Ferrellgas, L.P. [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income tax expense									(384,000)	2,471,000	1,838,000
Interest Expense									84,227,000	70,332,000
Depreciation and amortization expense									98,579,000	84,202,000	83,344,000
EBITDA									228,849,000	206,912,000
Loss on extinguishment of debt									0	21,202,000	0
Non-cash employee stock ownership plan compensation charge									(24,713,000)	(21,789,000)	(15,769,000)
Non-cash stock and unit-based compensation charge									25,982,000	24,508,000	13,545,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal									7,099,000	6,486,000
Other Nonoperating Income (Expense)									354,000	479,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability								0	(6,300,000)	5,000,000
Legal Fees									806,000	1,749,000
Estimated Litigation Liability	2,412,000				0				2,412,000	0
Net earnings (loss)	(55,249,000)	40,404,000	90,409,000	(29,137,000)	(44,179,000)	50,053,000	65,171,000	(21,138,000)	46,427,000	49,907,000	73,375,000
Adjusted EBITDA									300,288,000	288,125,000
Ferrellgas, L.P. [Member] \| Midstream - Crude Oil Logistics [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business Combination, Separately Recognized Transactions, Expenses and Losses Recognized									16,373,000	0
Adjusted EBITDA									$ 8,583,000	$ 0

Quarterly Data (Unaudited) (Summarized Unaudited Quarterly Data) (Details) (USD $)	3 Months Ended								12 Months Ended
	Jul. 31, 2015	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Revenues	$ 382,511,000	$ 532,551,000	$ 665,973,000	$ 443,355,000	$ 399,030,000	$ 722,117,000	$ 869,683,000	$ 415,030,000	$ 2,024,390,000	$ 2,405,860,000	$ 1,975,467,000
Net earnings (loss)	(59,333,000)	36,220,000	86,371,000	(33,169,000)	(48,241,000)	45,890,000	61,123,000	(25,057,000)	30,089,000	33,715,000	57,167,000
Net earnings (loss) attributable to Ferrellgas Partners, L.P.	(58,775,000)	35,812,000	85,458,000	(32,875,000)	(47,795,000)	45,385,000	60,464,000	(24,843,000)	29,620,000	33,211,000	56,426,000
Common unitholders' interest in net earnings (loss)	(58,187,000)	35,454,000	84,603,000	(32,546,000)	(47,317,000)	44,931,000	59,860,000	(24,595,000)	29,324,000	32,879,000	55,862,000
Basic and diluted net earnings (loss) per common unitholders' interest	$ (0.64)	$ 0.43	$ 0.89	$ (0.40)	$ (0.58)	$ 0.57	$ 0.72	$ (0.31)	$ 0.35	$ 0.41	$ 0.71
Ferrellgas, L.P. [Member]
Revenues	382,511,000	532,551,000	665,973,000	443,355,000	399,030,000	722,117,000	869,683,000	415,030,000	2,024,390,000	2,405,860,000	1,975,467,000
Net earnings (loss)	(55,249,000)	40,404,000	90,409,000	(29,137,000)	(44,179,000)	50,053,000	65,171,000	(21,138,000)	46,427,000	49,907,000	73,375,000
Propane and related equipment sales [Member]
Gross margin from propane and other gas liquids sales (a)	128,087,000	191,983,000	230,175,000	129,547,000	126,685,000	202,861,000	237,940,000	123,469,000
Propane and related equipment sales [Member] \| Ferrellgas, L.P. [Member]
Gross margin from propane and other gas liquids sales (a)					126,685,000	202,861,000	237,940,000	123,469,000
Consolidated Midstream Operations [Member]
Gross margin from propane and other gas liquids sales (a)	16,301,000	3,416,000	4,934,000	5,948,000	5,465,000	0	0	0
Consolidated Midstream Operations [Member] \| Ferrellgas, L.P. [Member]
Gross margin from propane and other gas liquids sales (a)					$ 5,465,000	$ 0	$ 0	$ 0

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, 2015	Jul. 31, 2014	Jul. 31, 2013
Deferred tax expense (benefit)	$ 270,000	$ 88,000	$ 133,000
Deferred tax assets	724,000	1,152,000
Ferrellgas Partners Finance Corp. [Member]
Deferred tax assets, operating loss carryforwards	6,588
Net operating loss carryforward	16,936
Net operating loss carryforward, expiration date	Jul. 31, 2035
Deferred tax expense (benefit)	0	0	0
Deferred tax assets	0	0
Valuation allowance provided for deferred tax asset	6,588
Ferrellgas Finance Corp. [Member]
Deferred tax assets, operating loss carryforwards	20,701
Net operating loss carryforward	53,217
Net operating loss carryforward, expiration date	Jul. 31, 2035
Deferred tax expense (benefit)	0	0	0
Deferred tax assets	0	0
Valuation allowance provided for deferred tax asset	$ 20,701