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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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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