FGPR — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-09-25

• In March 2024, the SEC adopted a final rule for disclosure of specific climate-related data, including those Scope 1 and Scope 2 GHG emissions, outlined above, in registrants' registration statements and periodic reports. In May 2026, the SEC proposed to rescind this guidance. We will continue to mo…

• The U.S. Environmental Protection Agency (the “EPA”) has determined that carbon dioxide and other GHGs are regulated pollutants under the Clean Air Act. EPA leadership has prioritized climate change mitigation measures and has implemented regulations requiring significant reductions in carbon dioxid…

Text removed vs the prior filing · source: 10-K · 2025-10-15

• In March 2024, the SEC adopted a final rule for disclosure of specific climate-related data, including those Scope 1 and Scope 2 GHG emissions, outlined above, in registrants' registration statements and periodic reports. In April 2024, the SEC stayed implementation of the final rule pending the out…

• The U.S. Environmental Protection Agency (the “EPA”) has determined that carbon dioxide and other GHGs are regulated pollutants under the Clean Air Act. EPA leadership has prioritized climate change mitigation measures and has implemented regulations requiring significant reductions in carbon dioxid…

Text added vs the prior filing · source: 10-K · 2026-09-25

• We are subject to all operating hazards and risks normally incidental to the handling, storing and delivering of combustible liquids such as propane. These operations face an inherent risk of exposure to general liability claims in the event that they result in injury or destruction of property. As …

Text removed vs the prior filing · source: 10-K · 2025-10-15

• We are subject to all operating hazards and risks normally incidental to the handling, storing and delivering of combustible liquids such as propane. These operations face an inherent risk of exposure to general liability claims in the event that they result in injury or destruction of property. As …

• The Company has maintained constructive relationships with its lenders. Management has internal approvals necessary for a plan to restructure our capital structure and debt and refinance and/or extend the maturity date for the Credit Facility and external advisors have been engaged to assist in this…

• Due to the timing of the maturities, as described in Note H “Debt” in the notes to the consolidated financial statements included in this Annual Report, of both the 2026 Notes and the Credit Facility, and the $121.9 million letters of credit which it secures as of July 31, 2025, management has perfo…

• If Ferrellgas Partners is permitted to make and makes distributions to its partners, while any Class B Units remain outstanding, Class B Unitholders collectively will receive at least approximately 85.7% of the aggregate amount of each such distribution and may receive up to 100% of any such distrib…

• See “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” for information on partnership distributions pursuant to the Amended Ferrellgas Partners LPA. For additional discussion of the terms of the Class B Units, see Note J “Equity (D…

Text added vs the prior filing · source: 10-K · 2026-09-25

• We recognized net earnings attributable to Ferrellgas Partners, L.P. of $71.7 million during fiscal 2026 compared to a net loss attributable to Ferrellgas Partners, L.P. of $15.6 million during fiscal 2025. The $87.3 million change was primarily driven by:

• ●A decrease of $134.2 million in “General and administrative expense” driven primarily by a $125.0 million legal settlement in fiscal 2025;

• ●a $16.8 million increase in “Interest expense” primarily related to a $19.2 million increase on our unsecured notes related to the October 2025 refinancing, which was partially offset by a $5.4 million decrease in amortization costs related to our credit facility; and

• ●an $8.7 million increase in “Depreciation and amortization expense” due to increases of $6.5 million in amortization expense, primarily related to finance leases, and $2.2 million in depreciation expense.

• Distributable cash flow attributable to equity investors decreased to $179.1 million in fiscal 2026 compared to $208.2 million in fiscal 2025. The $29.1 million decrease was primarily due to a $23.0 million increase in “Net cash interest expense” and a $9.4 million decrease in Adjusted EBITDA, which…

Text removed vs the prior filing · source: 10-K · 2025-10-15

• We recognized a net loss attributable to Ferrellgas Partners, L.P. of $15.6 million during fiscal 2025 and net earnings attributable to Ferrellgas Partners, L.P. of $110.2 million during fiscal 2024. The $125.8 million change was primarily driven by:

• ●a $125.0 million legal settlement in “General and administrative expense;”

• ●a $39.7 million increase in “Gross margin,” due to increases of $26.6 million in wholesale gross margin, $9.5 million in retail gross margin, and $3.6 million in other as an increase in gallons sold was driven by weather that was cooler in fiscal 2025 than prior year and higher wholesale prices tha…

• ●a decrease of $2.9 million in “Operating expense – equipment lease expense.”

• The Company’s “Gross margin” of over $1.0 billion was the highest in its history. Our five-year average, from fiscal years 2021 through 2025, of $0.96 billion reflects this positive trend. Approximately $0.6 billion and $0.2 billion, respectively, are attributable to our retail and wholesale busines…