FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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PERFORM A LIQUIDITY AND PROFITABILITY ANALYSIS ON THE FOLLOWING COMPANY UTILIZING THE RATIOS LISTED:

PAYABLES TURNOVER

DAYS PAYABLE

 

statement of operations 12 Months Ended
Jul. 31, 2020 Jul. 31, 2019
Revenues:    
Revenues  $ 1,497,826,000  $ 1,684,392,000
Costs and expenses:    
Operating expense - personnel, vehicle, plant and other 493,055,000 468,868,000
Operating expense - equipment lease expense 33,017,000  
Equipment lease expense, preadoption   33,073,000
Depreciation and amortization expense 80,481,000 78,846,000
General and administrative expense 45,752,000 59,994,000
Non-cash employee stock ownership plan compensation charge 2,871,000 5,693,000
Asset impairments 0 0
Loss on asset sales and disposals 7,924,000 10,968,000
Operating income 148,670,000 113,028,000
Interest expense (192,962,000) (177,619,000)
Loss on extinguishment of debt (37,399,000)  
Other income (expense), net (460,000) 369,000
Loss before income taxes (82,151,000) (64,222,000)
Income tax expense (benefit) 851,000 323,000
Net loss (83,002,000) (64,545,000)
Net loss attributable to noncontrolling interest (503,000) (298,000)
Net loss (82,499,000) (64,247,000)
Less: General partner's interest in net loss (825,000) (642,000)
Common unitholders' interest in net loss  $ (81,674,000)  $ (63,605,000)
Basic and diluted net loss per common unit  $ (0.84)  $ (0.65)
Cash distributions declared or paid per unit    

 

Consolidated Balance Sheets - USD ($) Jul. 31, 2020 Jul. 31, 2019
Current assets:    
     
Cash and cash equivalents  $ 333,761,000  $ 11,054,000
Accounts and notes receivable, net 101,438,000 107,596,000
Inventories 72,664,000 80,454,000
Prepaid expenses and other current assets 35,944,000 42,275,000
Total current assets 543,807,000 241,379,000
Prepaid expenses and other current assets 35,944,000 42,275,000
Property, plant and equipment, net 591,042,000 596,723,000
Goodwill, net 247,195,000 247,195,000
Intangible assets, net 104,049,000 108,557,000
Operating lease, right-of-use assets 107,349,000  
Other assets, net 74,748,000 69,105,000
Total assets 1,668,190,000 1,262,959,000
Current liabilities:    
Accounts payable 33,944,000 33,364,000
Short-term borrowings 0 43,000,000
Collateralized note payable   62,000,000
Current portion of long-term debt 859,095,000 631,756,000
Current operating lease liabilities 29,345,000  
Other current liabilities 167,466,000 138,237,000
Total current liabilities 1,089,850,000 908,357,000
Long-term debt 1,646,396,000 1,457,004,000
Operating lease liabilities 89,022,000  
Other liabilities 51,190,000 36,536,000
Contingencies and commitments 0 0
Partners' capital (deficit)    
Common unitholders (1,126,452,000) (1,046,245,000)
General partner unitholder (71,287,000) (70,476,000)
Accumulated other comprehensive income (loss) (2,303,000) (14,512,000)
Total Ferrellgas Partners, L.P. partners' deficit (1,200,042,000) (1,131,233,000)
Noncontrolling interest (8,226,000) (7,705,000)
Total partners' capital (deficit) (1,208,268,000) (1,138,938,000)
Total liabilities and partners' capital (deficit) 1,668,190,000 1,262,959,000
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