| Segment reporting |
T. Segment reporting Ferrellgas has one reportable segment, Propane operations and related equipment sales. The Propane operations and related equipment sales segment includes the distribution and sale of propane and related equipment throughout 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. The Company’s Chief Operating Decision Maker (“CODM”) is the President and Chief Executive Officer. The CODM assesses segment performance and decides how to allocate resources based on “Net earnings (loss),” a GAAP measure. The accounting policies of the reportable segment are the same as those described in “Note B – Summary of significant accounting policies.” The measure of segment assets is reported on the consolidated balance sheets as “Total assets” and the measure of capital expenditures is reported on the consolidated statements of cash flows as “Capital expenditures” in the investing activities section. Ferrellgas Partners Reconciliation of segment results to consolidated Net earnings (loss) | | | | | | | | | | | | | | Year ended July 31, | | | | 2026 | | 2025 | | 2024 | Revenues | | | $ | 1,864,014 | | $ | 1,938,337 | | $ | 1,837,116 | Less: | | | | | | | | | | | Cost of sales | | | | 840,061 | | | 915,521 | | | 853,971 | Operating expense - personnel, vehicle, plant and other: | | | | | | | | | | | Personnel (1) | | | | 351,539 | | | 353,494 | | | 344,941 | Vehicle (1) | | | | 116,193 | | | 108,572 | | | 110,305 | Plant and other (1) | | | | 183,526 | | | 168,768 | | | 146,356 | Operating expense - equipment lease expense | | | | 14,212 | | | 18,720 | | | 21,585 | Other segment items (2) | | | | 6,327 | | | 3,156 | | | 1,562 | General and administrative expense: | | | | | | | | | | | Litigation settlement (1) | | | | — | | | 125,000 | | | — | General and administrative expense | | | | 44,432 | | | 53,617 | | | 50,339 | Depreciation and amortization expense | | | | 107,076 | | | 98,426 | | | 98,471 | Interest expense | | | | 124,910 | | | 108,064 | | | 98,223 | Loss on extinguishment of debt | | | | 3,003 | | | — | | | — | Income tax expense | | | | 910 | | | 1,372 | | | 686 | Net earnings (loss) | | | $ | 71,825 | | $ | (16,373) | | $ | 110,677 |
______________________ | (1) | Significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. |
| (2) | Other segment items include “Non-cash employee stock ownership plan compensation expense,” “Loss on asset sales and disposals” and “Other income, net”. |
The Operating partnership Reconciliation of segment results to consolidated Net earnings (loss) | | | | | | | | | | | | | | Year ended July 31, | | | | 2026 | | 2025 | | 2024 | Revenues | | | $ | 1,864,014 | | $ | 1,938,337 | | $ | 1,837,116 | Less: | | | | | | | | | | | Cost of sales | | | | 840,061 | | | 915,521 | | | 853,971 | Operating expense - personnel, vehicle, plant and other: | | | | | | | | | | | Personnel (1) | | | | 351,539 | | | 353,494 | | | 344,941 | Vehicle (1) | | | | 116,193 | | | 108,572 | | | 110,305 | Plant and other (1) | | | | 183,526 | | | 168,768 | | | 146,356 | Operating expense - equipment lease expense | | | | 14,212 | | | 18,720 | | | 21,585 | Other segment items (2) | | | | 6,380 | | | 3,171 | | | 1,885 | General and administrative expense: | | | | | | | | | | | Litigation settlement (1) | | | | — | | | 125,000 | | | — | General and administrative expense | | | | 41,877 | | | 53,124 | | | 50,327 | Depreciation and amortization expense | | | | 107,076 | | | 98,426 | | | 98,471 | Interest expense | | | | 124,910 | | | 108,064 | | | 98,223 | Loss on extinguishment of debt | | | | 3,003 | | | — | | | — | Income tax expense | | | | 905 | | | 1,318 | | | 634 | Net earnings (loss) | | | $ | 74,332 | | $ | (15,841) | | $ | 110,418 | | | | | | | | | | | |
_________________ | (1) | Significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. |
| (2) | Other segment items include “Non-cash employee stock ownership plan compensation expense,” “Loss on asset sales and disposals” and “Other income, net”. |
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