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 | |
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 |
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 |
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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