Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Nov. 29, 2013 | Mar. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'UGI CORP /PA/ | ' | ' |
Entity Central Index Key | '0000884614 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $4,362,169,553 |
Entity Common Stock, Shares Outstanding | ' | 114,478,990 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $389.30 | $319.90 |
Restricted cash | 8.3 | 3 |
Accounts receivable (less allowances for doubtful accounts of $39.5 and $36.1, respectively) | 745.6 | 627.5 |
Accrued utility revenues | 18.9 | 16.9 |
Inventories | 365.5 | 354.1 |
Deferred income taxes | 10.6 | 29.8 |
Utility regulatory assets | 8.2 | 6.5 |
Derivative financial instruments | 23.8 | 13.2 |
Prepaid expenses and other current assets | 57.1 | 99.5 |
Total current assets | 1,627.30 | 1,470.40 |
Property, plant and equipment | ' | ' |
Utilities | 2,427.80 | 2,295.70 |
Non-utility | 4,612.70 | 4,223.90 |
Total property, plant and equipment | 7,040.50 | 6,519.60 |
Accumulated depreciation and amortization | -2,560.30 | -2,285.20 |
Net property, plant, and equipment | 4,480.20 | 4,234.40 |
Goodwill | 2,873.70 | 2,818.30 |
Intangible assets, net | 607.9 | 658.2 |
Other assets | 419.7 | 495.6 |
Total assets | 10,008.80 | 9,676.90 |
Current liabilities | ' | ' |
Current maturities of long-term debt | 67.2 | 166.7 |
Bank loans | 227.9 | 165.1 |
Accounts payable | 472.3 | 409.9 |
Employee compensation and benefits accrued | 97 | 89.7 |
Deposits and advances | 205.2 | 252.8 |
Derivative financial instruments | 30 | 100.9 |
Accrued interest | 60.6 | 71.6 |
Other current liabilities | 264.7 | 225.6 |
Total current liabilities | 1,424.90 | 1,482.30 |
Debt and other liabilities | ' | ' |
Long-term debt | 3,542.20 | 3,347.60 |
Deferred income taxes | 962.3 | 905.7 |
Deferred investment tax credits | 4.3 | 4.6 |
Other noncurrent liabilities | 527.2 | 621.3 |
Total liabilities | 6,460.90 | 6,361.50 |
Commitments and contingencies (Note 16) | ' | ' |
UGI Corporation stockholders’ equity: | ' | ' |
UGI Common Stock, without par value (authorized - 300,000,000 shares; issued - 115,783,794 and 115,624,594 shares, respectively) | 1,208.10 | 1,157.70 |
Retained earnings | 1,308.30 | 1,156 |
Accumulated other comprehensive income (loss) | 8.4 | -55.2 |
Treasury stock, at cost | -32.3 | -28.7 |
Total UGI Corporation stockholders’ equity | 2,492.50 | 2,229.80 |
Noncontrolling interests, principally in AmeriGas Partners | 1,055.40 | 1,085.60 |
Total equity | 3,547.90 | 3,315.40 |
Total liabilities and equity | $10,008.80 | $9,676.90 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Current assets | ' | ' |
Accounts receivable, allowances for doubtful accounts | $39.50 | $36.10 |
UGI Corporation stockholders’ equity: | ' | ' |
UGI Common Stock, without par value (in dollars per share) | $0 | $0 |
UGI Common Stock, without par value authorized (in shares) | 300,000,000 | 300,000,000 |
UGI Common Stock, without par value, issued (in shares) | 115,783,794 | 115,624,594 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||
Revenues | ' | ' | ' | ||
Utilities | $939 | $882.50 | $1,135.50 | ||
Non-utility | 6,255.70 | 5,638.80 | 4,955.40 | ||
Revenues | 7,194.70 | 6,521.30 | 6,090.90 | ||
Cost of sales (excluding depreciation shown below): | ' | ' | ' | ||
Utilities | 466 | 459.1 | 678.5 | ||
Non-utility | 3,858.40 | 3,640 | 3,304.20 | ||
Operating and administrative expenses | 1,692 | 1,591.10 | 1,267 | ||
Utility taxes other than income taxes | 16.9 | 17.3 | 16.6 | ||
Depreciation | 301.4 | 263.2 | 201 | ||
Amortization | 61.7 | 51.8 | 26.7 | ||
Other income, net | -32.8 | -39.8 | -45.5 | ||
Total costs and expenses | 6,363.60 | 5,982.70 | 5,448.50 | ||
Operating income | 831.1 | 538.6 | 642.4 | ||
Loss from equity investees | -0.4 | -0.3 | -0.9 | ||
Loss on extinguishments of debt | ' | -13.3 | -38.1 | ||
Interest expense | -240.3 | -220.4 | -138 | ||
Income before income taxes | 590.4 | 304.6 | 465.4 | ||
Income taxes | -162.8 | -106.9 | -145.4 | ||
Net income | 427.6 | 197.7 | 320 | ||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | -149.5 | 12.5 | -74.6 | ||
Net income attributable to UGI Corporation | $278.10 | $210.20 | $245.40 | ||
Earnings per common share attributable to UGI Corporation stockholders: | ' | ' | ' | ||
Basic (in dollars per share) | $2.44 | $1.87 | $2.20 | ||
Diluted (in dollars per share) | $2.41 | $1.85 | $2.17 | ||
Average common shares outstanding (thousands): | ' | ' | ' | ||
Basic (in shares) | 113,923 | [1] | 112,581 | [1] | 111,674 |
Diluted (in shares) | 115,521 | [1] | 113,432 | [1] | 112,944 |
[1] | For Fiscal 2013, Fiscal 2012 and Fiscal 2011, there were approximately 88 shares, 81 shares and 3,700 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $427.60 | $197.70 | $320 |
Net gains (losses) on derivative instruments (net of tax of $(7.2), $29.3 and $5.0, respectively) | 14.4 | -105.4 | 3.9 |
Reclassifications of net losses (gains) on derivative instruments (net of tax of $(10.3), $(14.6) and $1.5, respectively) | 53.5 | 56.3 | -19 |
Foreign currency translation adjustments (net of tax of $(6.6), $2.8 and $4.5, respectively) | 28.8 | -20.6 | -14 |
Foreign currency gains and (losses) on long-term intra-company transactions (net of tax of $(0.8), $0.7 and $0.4, respectively) | 3.2 | -1.7 | -0.8 |
Benefit plans (net of tax of $(3.8), $6.0 and $(0.1), respectively) | 5.3 | -11.5 | 0.1 |
Reclassifications of benefit plans actuarial losses and prior service costs to net income (net of tax of $(0.8), $(0.5) and $(0.4), respectively) | 1.2 | 0.7 | 0.6 |
Other comprehensive income (loss) | 106.4 | -82.2 | -29.2 |
Comprehensive income | 534 | 115.5 | 290.8 |
(Deduct comprehensive income) add comprehensive loss attributable to noncontrolling interests, principally in AmeriGas Partners | -192.3 | 38.6 | -69.1 |
Comprehensive income attributable to UGI Corporation | $341.70 | $154.10 | $221.70 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' |
Tax on (loss) gain on derivative instruments | ($7.20) | $29.30 | $5 |
Tax on reclassifications on derivative instruments | -10.3 | -14.6 | 1.5 |
Tax on foreign currency translation | -6.6 | 2.8 | 4.5 |
Tax on foreign currency gain and losses on long-term intra-company transactions | -1.7 | 0.7 | 0.4 |
Tax on benefit plans | -3.8 | 6 | -0.1 |
Tax on reclassification of benefit plans and prior service costs | -0.8 | -0.5 | -0.4 |
Reclassification of pension plans actuarial losses and prior service costs to regulatory assets, tax | $0 | $0 | $0 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' |
Net income | $427.60 | $197.70 | $320 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 363.1 | 315 | 227.7 |
Deferred income taxes, net | 48.7 | 90.2 | 91.5 |
Provision for uncollectible accounts | 30.2 | 26.5 | 20 |
Stock-based compensation expense | 17.6 | 14.5 | 15.6 |
Unrealized gains on derivative instruments | -0.2 | -17.2 | -19.6 |
Loss on extinguishments of debt | ' | 13.3 | 38.1 |
Other, net | -41.4 | -11 | 4.3 |
Net change in: | ' | ' | ' |
Accounts receivable and accrued utility revenues | -110.8 | 65.5 | -66 |
Inventories | 4.6 | 89.2 | -40.7 |
Utility deferred fuel costs, net of changes in unsettled derivatives | 9.3 | -8.2 | 12.8 |
Accounts payable | 38.7 | -78.7 | 19.2 |
Other current assets | -36.3 | 12.5 | 1.9 |
Other current liabilities | -22.2 | 23.4 | -66.3 |
Net cash provided by operating activities | 801.5 | 707.7 | 554.7 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Expenditures for property, plant and equipment | -486 | -339.4 | -360.7 |
Acquisitions of businesses, net of cash acquired | -78.9 | -1,580.50 | -52.5 |
(Increase) decrease in restricted cash | -5.3 | 14.2 | 17.6 |
Other, net | 16.9 | 1.2 | -19.8 |
Net cash used by investing activities | -553.3 | -1,904.50 | -415.4 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Dividends on UGI Common Stock | -125.8 | -119.1 | -113.8 |
Distributions on AmeriGas Partners publicly held Common Units | -226.5 | -181.7 | -93.7 |
Issuances of debt | 227.1 | 1,550.20 | 1,480.60 |
Repayments of debt | -168.7 | -299.9 | -1,383.60 |
Receivables Facility net borrowings (repayments) | 30 | -14.3 | 2.2 |
Increase (decrease) in bank loans | 32.3 | 41.7 | -74.6 |
Issuances of UGI Common Stock | 36.4 | 23.2 | 27.3 |
Issuances of AmeriGas Partners Common Units | 0 | 276.6 | 0 |
Other | 9.1 | 1.8 | 3.5 |
Net cash (used) provided by financing activities | -186.1 | 1,278.50 | -152.1 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | 7.3 | -0.3 | -9.4 |
Cash and cash equivalents increase (decrease) | 69.4 | 81.4 | -22.2 |
Cash and cash equivalents: | ' | ' | ' |
End of year | 389.3 | 319.9 | 238.5 |
Beginning of year | 319.9 | 238.5 | 260.7 |
Increase (decrease) | 69.4 | 81.4 | -22.2 |
Cash paid for: | ' | ' | ' |
Interest | 243.6 | 168.8 | 135 |
Income taxes | $60 | $33.30 | $48.60 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes In Equity (USD $) | Total | Total UGI Corporation Stockholder's Equity | Common stock, without par value | Retained earnings | Accumulated other comprehensive income (loss) | Treasury stock | Noncontrolling interests |
In Millions, unless otherwise specified | |||||||
Beginning Balance at Sep. 30, 2010 | ' | ' | ' | ' | ' | ' | $237.40 |
Beginning Balance at Sep. 30, 2010 | ' | ' | 906.1 | 933.3 | 22.8 | -38.2 | ' |
Common Stock issued: | ' | ' | ' | ' | ' | ' | ' |
Employee and director plans | ' | ' | 14.7 | ' | ' | 9.7 | ' |
Dividend reinvestment plan | ' | ' | 2.2 | ' | ' | 0.7 | ' |
Reacquired common stock - employee and director plans | ' | ' | ' | ' | ' | 0 | ' |
Excess tax benefits realized on equity-based compensation | ' | ' | 3.8 | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | 10.6 | ' | ' | ' | ' |
Net gains (losses) on derivative instruments, net of tax | 3.9 | ' | ' | ' | -8.7 | ' | ' |
Reclassification of net losses (gains) on derivative instruments, net of tax | 19 | ' | ' | ' | -1 | ' | ' |
Benefit plans, principally actuarial gains (losses), net of tax | 0.1 | ' | ' | ' | 0.1 | ' | ' |
Reclassification of benefit plans actuarial losses and prior service costs, net of tax, to net income | 0.6 | ' | ' | ' | 0.6 | ' | ' |
Adjustments to reflect change in ownership of AmeriGas Partners, net of tax | ' | ' | 0 | ' | 0 | ' | 0 |
Net income attributable to UGI Corporation | 245.4 | ' | ' | 245.4 | ' | ' | ' |
Cash dividends on Common Stock ($1.105, $1.06 and $1.02 per share, respectively) | ' | ' | ' | -113.8 | ' | ' | ' |
Foreign currency gains (losses) on long-term intra-company transactions, net of tax | -0.8 | ' | ' | ' | -0.8 | ' | ' |
Foreign currency translation adjustments, net of tax | -14 | ' | ' | ' | -14 | ' | ' |
Net income (loss) attributable to noncontrolling interests, principally in AmeriGas Partners | 74.6 | ' | ' | ' | ' | ' | 74.6 |
Net gains (losses) on derivative instruments | ' | ' | ' | ' | ' | ' | 12.6 |
Reclassification of net losses (gains) on derivative instruments | ' | ' | ' | ' | ' | ' | -18.1 |
Dividends and distributions | ' | ' | ' | ' | ' | ' | -94 |
AmeriGas Partners Common Unit public offering | ' | ' | ' | ' | ' | ' | 0 |
AmeriGas Partners Common Units issued for Heritage Acquisition | ' | ' | ' | ' | ' | ' | 0 |
Other | ' | ' | ' | ' | ' | ' | 0.5 |
Ending Balance at Sep. 30, 2011 | ' | 1,973.50 | 937.4 | 1,064.90 | -1 | -27.8 | ' |
Ending Balance at Sep. 30, 2011 | 2,186.50 | ' | ' | ' | ' | ' | 213 |
Common Stock issued: | ' | ' | ' | ' | ' | ' | ' |
Employee and director plans | ' | ' | 13.6 | ' | ' | 6.4 | ' |
Dividend reinvestment plan | ' | ' | 2.2 | ' | ' | 0.9 | ' |
Reacquired common stock - employee and director plans | ' | ' | ' | ' | ' | -8.2 | ' |
Excess tax benefits realized on equity-based compensation | ' | ' | 1.8 | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | 8.3 | ' | ' | ' | ' |
Net gains (losses) on derivative instruments, net of tax | -105.4 | ' | ' | ' | -45.6 | ' | ' |
Reclassification of net losses (gains) on derivative instruments, net of tax | -56.3 | ' | ' | ' | 22.6 | ' | ' |
Benefit plans, principally actuarial gains (losses), net of tax | -11.5 | ' | ' | ' | -11.5 | ' | ' |
Reclassification of benefit plans actuarial losses and prior service costs, net of tax, to net income | 0.7 | ' | ' | ' | 0.7 | ' | ' |
Adjustments to reflect change in ownership of AmeriGas Partners, net of tax | ' | ' | 194.4 | ' | 1.9 | ' | -321.4 |
Net income attributable to UGI Corporation | 210.2 | ' | ' | 210.2 | ' | ' | ' |
Cash dividends on Common Stock ($1.105, $1.06 and $1.02 per share, respectively) | ' | ' | ' | -119.1 | ' | ' | ' |
Foreign currency gains (losses) on long-term intra-company transactions, net of tax | -1.7 | ' | ' | ' | -1.7 | ' | ' |
Foreign currency translation adjustments, net of tax | -20.6 | ' | ' | ' | -20.6 | ' | ' |
Net income (loss) attributable to noncontrolling interests, principally in AmeriGas Partners | -12.5 | ' | ' | ' | ' | ' | -12.5 |
Net gains (losses) on derivative instruments | ' | ' | ' | ' | ' | ' | -59.8 |
Reclassification of net losses (gains) on derivative instruments | ' | ' | ' | ' | ' | ' | 33.7 |
Dividends and distributions | ' | ' | ' | ' | ' | ' | -182.1 |
AmeriGas Partners Common Unit public offering | ' | ' | ' | ' | ' | ' | 276.6 |
AmeriGas Partners Common Units issued for Heritage Acquisition | ' | ' | ' | ' | ' | ' | 1,132.60 |
Other | ' | ' | ' | ' | ' | ' | 5.5 |
Ending Balance at Sep. 30, 2012 | 2,229.80 | 2,229.80 | 1,157.70 | 1,156 | -55.2 | -28.7 | ' |
Ending Balance at Sep. 30, 2012 | 3,315.40 | ' | ' | ' | ' | ' | 1,085.60 |
Common Stock issued: | ' | ' | ' | ' | ' | ' | ' |
Employee and director plans | ' | ' | 29.7 | ' | ' | 35.2 | ' |
Dividend reinvestment plan | ' | ' | 1.4 | ' | ' | 0.8 | ' |
Reacquired common stock - employee and director plans | ' | ' | ' | ' | ' | -39.6 | ' |
Excess tax benefits realized on equity-based compensation | ' | ' | 9.4 | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | 9.9 | ' | ' | ' | ' |
Net gains (losses) on derivative instruments, net of tax | 14.4 | ' | ' | ' | 9.8 | ' | ' |
Reclassification of net losses (gains) on derivative instruments, net of tax | -53.5 | ' | ' | ' | 15.3 | ' | ' |
Benefit plans, principally actuarial gains (losses), net of tax | 5.3 | ' | ' | ' | 5.3 | ' | ' |
Reclassification of benefit plans actuarial losses and prior service costs, net of tax, to net income | 1.2 | ' | ' | ' | 1.2 | ' | ' |
Adjustments to reflect change in ownership of AmeriGas Partners, net of tax | ' | ' | 0 | ' | 0 | ' | 0 |
Net income attributable to UGI Corporation | 278.1 | ' | ' | 278.1 | ' | ' | ' |
Cash dividends on Common Stock ($1.105, $1.06 and $1.02 per share, respectively) | ' | ' | ' | -125.8 | ' | ' | ' |
Foreign currency gains (losses) on long-term intra-company transactions, net of tax | 3.2 | ' | ' | ' | 3.2 | ' | ' |
Foreign currency translation adjustments, net of tax | 28.8 | ' | ' | ' | 28.8 | ' | ' |
Net income (loss) attributable to noncontrolling interests, principally in AmeriGas Partners | 149.5 | ' | ' | ' | ' | ' | 149.5 |
Net gains (losses) on derivative instruments | ' | ' | ' | ' | ' | ' | 4.6 |
Reclassification of net losses (gains) on derivative instruments | ' | ' | ' | ' | ' | ' | 38.2 |
Dividends and distributions | ' | ' | ' | ' | ' | ' | -226.7 |
AmeriGas Partners Common Unit public offering | ' | ' | ' | ' | ' | ' | 0 |
AmeriGas Partners Common Units issued for Heritage Acquisition | ' | ' | ' | ' | ' | ' | 0 |
Other | ' | ' | ' | ' | ' | ' | 4.2 |
Ending Balance at Sep. 30, 2013 | 2,492.50 | 2,492.50 | 1,208.10 | 1,308.30 | 8.4 | -32.3 | ' |
Ending Balance at Sep. 30, 2013 | $3,547.90 | ' | ' | ' | ' | ' | $1,055.40 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes In Equity (Parenthetical) (Retained earnings, USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Retained earnings | ' | ' | ' |
Cash dividends on Common Stock per share | $1.10 | $1.06 | $1.02 |
Nature_of_Operations
Nature of Operations | 12 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Nature of Operations | ' |
UGI Corporation (“UGI”) is a holding company that, through subsidiaries and affiliates, distributes, stores, transports and markets energy products and related services. In the United States, we (1) are the general partner and own limited partner interests in a retail propane marketing and distribution business; (2) own and operate natural gas and electric distribution utilities; (3) own all or a portion of electricity generation facilities; (4) own and operate an energy marketing, midstream infrastructure, storage and energy services business; and (5) own and operate heating, ventilation, air conditioning and electrical contracting businesses. Internationally, we market and distribute propane and other liquefied petroleum gases (“LPG”) in Europe and China. We refer to UGI and its consolidated subsidiaries collectively as “the Company” or “we.” | |
We conduct a domestic propane marketing and distribution business through AmeriGas Partners, L.P. (“AmeriGas Partners”), a publicly traded limited partnership, its principal operating subsidiary AmeriGas Propane, L.P. (“AmeriGas OLP”) and, prior to its merger with AmeriGas OLP on July 1, 2013, AmeriGas OLP’s principal operating subsidiary Heritage Operating, L.P. (“HOLP”). In addition, from January 12, 2012, through the date of its merger with and into AmeriGas OLP in August 2012, we also conducted business through AmeriGas OLP’s operating subsidiary, Titan Propane LLC (“Titan LLC”). HOLP and Titan LLC (collectively, “Heritage Propane”) were acquired on January 12, 2012, from Energy Transfer Partners, L.P. (“ETP”) (see Note 5 for additional information about the acquisition of Heritage Propane). AmeriGas OLP along with HOLP and Titan LLC (prior to their mergers with and into AmeriGas OLP) are referred to herein as the “Operating Partnership.” AmeriGas Partners and AmeriGas OLP are Delaware limited partnerships. UGI’s wholly owned second-tier subsidiary AmeriGas Propane, Inc. (the “General Partner”) serves as the general partner of AmeriGas Partners and AmeriGas OLP. We refer to AmeriGas Partners and its subsidiaries together as “the Partnership” and the General Partner and its subsidiaries, including the Partnership, as “AmeriGas Propane.” At September 30, 2013, the General Partner held a 1% general partner interest and 25.3% limited partner interest in AmeriGas Partners, and held an effective 27.1% ownership interest in AmeriGas OLP. Our limited partnership interest in AmeriGas Partners comprises 23,756,882 AmeriGas Partners Common Units (“Common Units”). The remaining 73.7% interest in AmeriGas Partners comprises 47,000,295 Common Units held by the public and 22,067,362 Common Units held by a subsidiary of ETP as a result of the acquisition of Heritage Propane. | |
Our wholly owned subsidiary, UGI Enterprises, Inc. (“Enterprises”), through subsidiaries, conducts (1) an LPG distribution business in France, Belgium, the Netherlands and Luxembourg (“Antargaz”); (2) an LPG distribution business in central, northern and eastern Europe (“Flaga”); (3) an LPG distribution business in the United Kingdom (“AvantiGas”); and (4) an LPG distribution business in the Nantong region of China. We refer to our foreign LPG operations collectively as “UGI International.” | |
Enterprises, through UGI Energy Services, LLC (which was formerly known as UGI Energy Services, Inc. prior to its merger with and into UGI Energy Services, LLC effective October 1, 2013) and its subsidiaries conduct an energy marketing, midstream infrastructure, storage, natural gas gathering, natural gas production and energy services business primarily in the Mid-Atlantic region of the United States. In addition, UGI Energy Services, LLC’s wholly owned subsidiary, UGI Development Company (“UGID”), owns all or a portion of electricity generation facilities principally located in Pennsylvania. These businesses are referred to herein collectively as “Midstream & Marketing.” UGI Energy Services, LLC subsequent to the merger and UGI Energy Services, Inc. prior to the merger are referred to herein as “Energy Services.” Enterprises also conducts heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses in the Mid-Atlantic region through first-tier subsidiaries. | |
Our natural gas and electric distribution utility businesses are conducted through our wholly owned subsidiary, UGI Utilities, Inc. (“UGI Utilities”), and its subsidiaries UGI Penn Natural Gas, Inc. (“PNG”) and UGI Central Penn Gas, Inc. (“CPG”). UGI Utilities, PNG and CPG own and operate natural gas distribution utilities in eastern, northeastern and central Pennsylvania and in a portion of one Maryland county. UGI Utilities also owns and operates an electric distribution utility in northeastern Pennsylvania (“Electric Utility”). UGI Utilities’ natural gas distribution utility is referred to as “UGI Gas.” UGI Gas, PNG and CPG are collectively referred to as “Gas Utility.” Gas Utility is subject to regulation by the Pennsylvania Public Utility Commission (“PUC”) and, with respect to a small service territory in one Maryland county, the Maryland Public Service Commission, and Electric Utility is subject to regulation by the PUC. Gas Utility and Electric Utility are collectively referred to as “Utilities.” |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Significant Accounting Policies | ' | |||||||||||||||
Basis of Presentation | ||||||||||||||||
Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). | ||||||||||||||||
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and costs. These estimates are based on management’s knowledge of current events, historical experience and various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may be different from these estimates and assumptions. | ||||||||||||||||
Certain prior-year amounts have been reclassified to conform to the current-year presentation. In addition, see Note 3 regarding the effects of revisions on previously issued financial statements. | ||||||||||||||||
Principles of Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of UGI and its controlled subsidiary companies which, except for the Partnership, are majority owned. We report the general public’s and ETP’s interests in the Partnership, and outside ownership interests in other consolidated but less than 100%-owned subsidiaries, as noncontrolling interests. We eliminate all significant intercompany accounts and transactions when we consolidate. Entities in which we do not have control but have significant influence over operating and financial policies are accounted for by the equity method. Undistributed net earnings of our equity investees included in consolidated retained earnings were not material at September 30, 2013. Investments in business entities that are not publicly traded and in which we hold less than 20% of voting rights are accounted for using the cost method. Such investments are recorded in other assets and totaled $82.0 and $80.0 at September 30, 2013 and 2012, respectively (including $16.4 and $20.0, respectively, associated with our approximate 3.5% interest in a private equity partnership that invests in renewable energy companies). Undivided interests in natural gas production assets and an electricity generation facility are consolidated on a proportionate basis. | ||||||||||||||||
Effects of Regulation | ||||||||||||||||
UGI Utilities accounts for the financial effects of regulation in accordance with the Financial Accounting Standards Board’s (“FASB’s”) guidance in Accounting Standards Codification (“ASC”) 980 related to regulated entities whose rates are designed to recover the costs of providing service. In accordance with this guidance, incurred costs and estimated future expenditures that would otherwise be charged to expense are capitalized and recorded as regulatory assets when it is probable that the incurred costs or estimated future expenditures will be recovered in rates in the future. Similarly, we recognize regulatory liabilities when it is probable that regulators will require customer refunds through future rates or when revenue is collected from customers for expenditures that have not yet been incurred. Generally, regulatory assets are amortized into expense and regulatory liabilities are amortized into income over the period authorized by the regulator. | ||||||||||||||||
For additional information regarding the effects of rate regulation on our utility operations, see Note 9. | ||||||||||||||||
Fair Value Measurements | ||||||||||||||||
We apply fair value measurements on a recurring basis to certain assets and liabilities, principally our commodity, foreign currency and interest rate derivative instruments. Assets that are not measured at fair value on a recurring basis but are subject to fair value measurements under certain circumstances principally comprise our cost and equity method investments and long-lived assets that are written down to fair value when they are impaired. Fair value in GAAP is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and risks inherent in valuation techniques and inputs to valuations. This includes not only the credit standing of counterparties and credit enhancements but also the impact of our own nonperformance risk on our liabilities. Fair value measurements require that we assume that the transaction occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability (the market for which the reporting entity would be able to maximize the amount received or minimize the amount paid). We evaluate the need for credit adjustments to our derivative instrument fair values in accordance with the requirements noted above. Such adjustments were not material to the fair values of our derivative instruments. | ||||||||||||||||
We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: | ||||||||||||||||
• | Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access at the measurement date. Instruments categorized in Level 1 consist of our exchange-traded commodity futures and option contracts and non exchange-traded commodity futures and non exchange-traded electricity forward contracts whose underlying is identical to an exchange-traded contract. | |||||||||||||||
• | Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over the counter commodity price swap and option contracts, interest rate swaps and interest rate protection agreements, foreign currency forward contracts, financial transmission rights (“FTRs”) and non exchange-traded electricity forward and capacity swap contracts that do not qualify for Level 1. | |||||||||||||||
• | Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. We did not have any derivative financial instruments categorized as Level 3 at September 30, 2013 or 2012. | |||||||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. See Note 17 for additional information on fair value measurements. | ||||||||||||||||
Derivative Instruments | ||||||||||||||||
We account for derivative instruments and hedging activities in accordance with guidance provided by the FASB which requires that all derivative instruments, whether designated in hedging relationships or not, be recognized as either assets or liabilities and measured at fair value unless the derivative instruments qualify for the normal purchase and sale exemption under GAAP. The accounting for changes in fair value depends upon the purpose of the derivative instrument and whether it is designated and qualifies for hedge accounting. | ||||||||||||||||
A substantial portion of our derivative financial instruments other than commodity derivative instruments at Midstream & Marketing are designated and qualify as cash flow hedges or net investment hedges. Substantially all of Midstream & Marketing’s commodity derivative instruments are not designated as cash flow hedges. These derivative instruments are recorded at fair value with changes in fair value reflected in income. In addition, unrealized gains and losses on certain derivative financial instruments used by Gas Utility and Electric Utility are included in regulatory assets or liabilities in accordance with FASB guidance regarding accounting for rate-regulated entities. | ||||||||||||||||
For cash flow hedges, changes in the fair value of the derivative financial instruments are recorded in accumulated other comprehensive income (“AOCI”) or noncontrolling interests, to the extent effective at offsetting changes in the hedged item, until earnings are affected by the hedged item. We discontinue cash flow hedge accounting if the occurrence of the forecasted transaction is determined to be no longer probable. Gains and losses on net investment hedges which relate to our foreign operations are included in AOCI until such foreign net investment is sold or liquidated. Changes in the fair values of Midstream & Marketing’s commodity derivative instruments, along with those of certain of our other businesses’ derivative financial instruments, do not qualify for, or are not designated as, cash flow hedges. Changes in the fair values of these derivative instruments are generally reflected in cost of sales or revenues, as appropriate, on the Consolidated Statements of Income. Cash flows from derivative financial instruments, other than net investment hedges, are included in cash flows from operating activities. Cash flows from net investment hedges are included in cash flows from investing activities. | ||||||||||||||||
For a more detailed description of the derivative instruments we use, our accounting for derivatives, our objectives for using them and other information, see Note 18. | ||||||||||||||||
Foreign Currency Translation | ||||||||||||||||
Balance sheets of international subsidiaries are translated into U.S. dollars using the exchange rate at the balance sheet date. Income statements and equity investee results are translated into U.S. dollars using an average exchange rate for each reporting period. Where the local currency is the functional currency, translation adjustments are recorded in other comprehensive income. | ||||||||||||||||
Revenue Recognition | ||||||||||||||||
Revenues from the sale of LPG are recognized principally upon delivery. Midstream & Marketing records revenues when energy products are delivered or services are provided to customers. Revenues from the sale of appliances and equipment are recognized at the later of sale or installation. Revenues from repair or maintenance services are recognized upon completion of services. | ||||||||||||||||
UGI Utilities’ regulated revenues are recognized as natural gas and electricity are delivered and include estimated amounts for distribution service and commodities rendered but not billed at the end of each month. We reflect the impact of Gas Utility and Electric Utility rate increases or decreases at the time they become effective. | ||||||||||||||||
We present revenue-related taxes collected from customers and remitted to taxing authorities, principally sales and use taxes, on a net basis. Electric Utility gross receipts taxes are included in total revenues in accordance with regulatory practice. | ||||||||||||||||
LPG Delivery Expenses | ||||||||||||||||
Expenses associated with the delivery of LPG to customers of the Partnership and our UGI International operations (including vehicle expenses, expenses of delivery personnel, vehicle repair and maintenance and general liability expenses) are classified as operating and administrative expenses on the Consolidated Statements of Income. Depreciation expense associated with the Partnership and UGI International delivery vehicles is classified in depreciation on the Consolidated Statements of Income. | ||||||||||||||||
Income Taxes | ||||||||||||||||
AmeriGas Partners and the Operating Partnerships are not directly subject to federal income taxes. Instead, their taxable income or loss is allocated to the individual partners. We record income taxes on (1) our share of the Partnership’s current taxable income or loss and (2) the differences between the book and tax basis of our investment in the Partnership. The Operating Partnership has subsidiaries which operate in corporate form and are directly subject to federal and state income taxes. Legislation in certain states allows for taxation of partnership income and the accompanying financial statements reflect state income taxes resulting from such legislation. | ||||||||||||||||
Gas Utility and Electric Utility record deferred income taxes in the Consolidated Statements of Income resulting from the use of accelerated tax depreciation methods based upon amounts recognized for ratemaking purposes. They also record a deferred income tax liability for tax benefits, principally the result of accelerated tax depreciation for state income tax purposes, that are flowed through to ratepayers when temporary differences originate and record a regulatory income tax asset for the probable increase in future revenues that will result when the temporary differences reverse. | ||||||||||||||||
We are amortizing deferred investment tax credits related to UGI Utilities’ plant additions over the service lives of the related property. UGI Utilities reduces its deferred income tax liability for the future tax benefits that will occur when investment tax credits, which are not taxable, are amortized. We also reduce the regulatory income tax asset for the probable reduction in future revenues that will result when such deferred investment tax credits amortize. Investment tax credits associated with Midstream & Marketing’s qualifying solar energy property under the Emergency Economic Stabilization Act of 2008 are reflected in income taxes for assets placed in service after Fiscal 2011 and are amortized over the estimated useful life of the property for assets placed in service prior to Fiscal 2012. | ||||||||||||||||
We record interest on tax deficiencies and income tax penalties in income taxes on the Consolidated Statements of Income. No amounts were recorded for interest in Fiscal 2013. For Fiscal 2012 and Fiscal 2011, interest (income) expense of $(0.1) and $0.2, respectively, was recognized in income taxes on the Consolidated Statements of Income. | ||||||||||||||||
Earnings Per Common Share | ||||||||||||||||
Basic earnings per share attributable to UGI Corporation stockholders reflect the weighted-average number of common shares outstanding. Diluted earnings per share include the effects of dilutive stock options and common stock awards. In the following table, we present shares used in computing basic and diluted earnings per share for Fiscal 2013, Fiscal 2012 and Fiscal 2011: | ||||||||||||||||
(Thousands of shares) | 2013 | 2012 | 2011 | |||||||||||||
Average common shares outstanding for basic computation | 113,923 | 112,581 | 111,674 | |||||||||||||
Incremental shares issuable for stock options and common stock awards (a) | 1,598 | 851 | 1,270 | |||||||||||||
Average common shares outstanding for diluted computation | 115,521 | 113,432 | 112,944 | |||||||||||||
(a) | For Fiscal 2013, Fiscal 2012 and Fiscal 2011, there were approximately 88 shares, 81 shares and 3,700 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive. | |||||||||||||||
Comprehensive Income | ||||||||||||||||
Comprehensive income comprises net income and other comprehensive income (loss). Other comprehensive income (loss) principally results from gains and losses on derivative instruments qualifying as cash flow hedges, actuarial gains and losses on postretirement benefit plans and foreign currency translation adjustments and foreign currency long-term intra-company transactions. | ||||||||||||||||
The components of AOCI at September 30, 2013 and 2012 follow: | ||||||||||||||||
Postretirement | Derivative | Foreign | Total | |||||||||||||
Benefit Plans | Instruments Net | Currency | ||||||||||||||
Losses | Translation | |||||||||||||||
Adjustments | ||||||||||||||||
Balance, September 30, 2013 | $ | (16.4 | ) | $ | (26.9 | ) | $ | 51.7 | $ | 8.4 | ||||||
Balance, September 30, 2012 | $ | (22.9 | ) | $ | (52.0 | ) | $ | 19.7 | $ | (55.2 | ) | |||||
Cash and Cash Equivalents | ||||||||||||||||
All highly liquid investments with maturities of three months or less when purchased are classified as cash equivalents. | ||||||||||||||||
Restricted Cash | ||||||||||||||||
Restricted cash principally represents those cash balances in our commodity futures and option brokerage accounts which are restricted from withdrawal. | ||||||||||||||||
Inventories | ||||||||||||||||
Our inventories are stated at the lower of cost or market. We determine cost using an average cost method for natural gas, propane and other LPG; specific identification for appliances; and the first-in, first-out (“FIFO”) method for all other inventories. | ||||||||||||||||
Property, Plant and Equipment and Related Depreciation | ||||||||||||||||
We record property, plant and equipment at original cost. The amounts assigned to property, plant and equipment of acquired businesses are based upon estimated fair value at date of acquisition. | ||||||||||||||||
We record depreciation expense on non-utility plant and equipment on a straight-line basis over estimated economic useful lives ranging from 15 to 40 years for buildings and improvements; 7 to 40 years for storage and customer tanks and cylinders; 25 to 35 years for electricity generation facilities; and 2 to 12 years for vehicles, equipment and office furniture and fixtures. Costs to install Partnership and Antargaz-owned tanks, net of amounts billed to customers, are capitalized and amortized over the estimated period of benefit not exceeding ten years. | ||||||||||||||||
We record depreciation expense for Utilities’ plant and equipment on a straight-line basis over the estimated average remaining lives of the various classes of its depreciable property. Depreciation expense as a percentage of the related average depreciable base for Gas Utility was 2.3% in Fiscal 2013, 2.2% in Fiscal 2012 and 2.3% in Fiscal 2011. Depreciation expense as a percentage of the related average depreciable base for Electric Utility was 2.4% in Fiscal 2013, 2.4% in Fiscal 2012 and 2.6% in Fiscal 2011. When Utilities retires depreciable utility plant and equipment, we charge the original cost to accumulated depreciation for financial accounting purposes. | ||||||||||||||||
We include in property, plant and equipment costs associated with computer software we develop or obtain for use in our businesses. We amortize computer software costs on a straight-line basis over expected periods of benefit not exceeding fifteen years once the installed software is ready for its intended use. | ||||||||||||||||
No depreciation expense is included in cost of sales in the Consolidated Statements of Income. | ||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||
In accordance with GAAP relating to intangible assets, we amortize intangible assets over their estimated useful lives unless we determine their lives to be indefinite. We review identifiable intangible assets subject to amortization for impairment whenever events or changes in circumstances indicate that the associated carrying amounts may not be recoverable. Determining whether an impairment loss occurred requires comparing the carrying amount to the sum of undiscounted cash flows expected to be generated by the asset. Intangible assets with indefinite lives are not amortized but are tested annually for impairment and written down to fair value as required. | ||||||||||||||||
We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (a component) if discrete financial information is prepared and regularly reviewed by segment management. Components are aggregated as a single reporting unit if they have similar economic characteristics. We are required to recognize an impairment charge under GAAP if the carrying amount of a reporting unit exceeds its fair value and the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill. For certain of our reporting units with goodwill, we assess qualitative factors to determine whether it is more likely than not that the fair value of such reporting unit is less than its carrying amount. For our other reporting units with goodwill, and for those reporting units for which we are not able, based upon the assessment of qualitative factors, to determine that it is not more likely than not that the fair value of such reporting unit is less than its carrying amount, we determine fair values generally using an income approach unless market values are available. For purposes of the income approach, fair values are determined based upon the present value of estimated future cash flows discounted at an appropriate risk-adjusted rate. | ||||||||||||||||
No provisions for goodwill or other intangible asset impairments were recorded during Fiscal 2013, Fiscal 2012 or Fiscal 2011. No amortization expense is included in cost of sales in the Consolidated Statements of Income (see Note 12). | ||||||||||||||||
Impairment of Long-Lived Assets and Cost Basis Investments | ||||||||||||||||
We evaluate the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We evaluate recoverability based upon undiscounted future cash flows expected to be generated by such assets. No material provisions for impairments were recorded during Fiscal 2013, Fiscal 2012 or Fiscal 2011. | ||||||||||||||||
We reduce the carrying values of our cost basis investments when we determine that a decline in fair value is other than temporary. During Fiscal 2013, we recorded a pre-tax loss of $6.3 associated with an other-than-temporary impairment of an investment in a private equity partnership. | ||||||||||||||||
Deferred Debt Issuance Costs | ||||||||||||||||
Included in other assets on our Consolidated Balance Sheets are net deferred debt issuance costs of $39.4 and $46.6 at September 30, 2013 and 2012, respectively. We are amortizing these costs over the terms of the related debt. | ||||||||||||||||
Refundable Tank and Cylinder Deposits | ||||||||||||||||
Included in other noncurrent liabilities on our Consolidated Balance Sheets are customer paid deposits on Antargaz owned tanks and cylinders of $214.6 and $205.1 at September 30, 2013 and 2012, respectively. Deposits are refundable to customers when the tanks or cylinders are returned in accordance with contract terms. | ||||||||||||||||
Environmental Matters | ||||||||||||||||
We are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current or former operating sites. | ||||||||||||||||
Environmental reserves are accrued when assessments indicate that it is probable that a liability has been incurred and an amount can reasonably be estimated. Amounts recorded as environmental liabilities on the balance sheets represent our best estimate of costs expected to be incurred or, if no best estimate can be made, the minimum liability associated with a range of expected environmental investigation and remediation costs. Our estimated liability for environmental contamination is reduced to reflect anticipated participation of other responsible parties but is not reduced for possible recovery from insurance carriers. In those instances for which the amount and timing of cash payments associated with environmental investigation and cleanup are reliably determinable, we discount such liabilities to reflect the time value of money. We intend to pursue recovery of incurred costs through all appropriate means, including regulatory relief. UGI Gas is permitted to amortize as removal costs site-specific environmental investigation and remediation costs, net of related third-party payments, associated with Pennsylvania sites. UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of such prudently incurred remediation costs, and CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites. For further information, see Note 16. | ||||||||||||||||
Employee Retirement Plans | ||||||||||||||||
We use a market-related value of plan assets and an expected long-term rate of return to determine the expected return on assets of our pension and other postretirement plans. The market-related value of plan assets, other than equity investments, is based upon fair values. The market-related value of equity investments is calculated by rolling forward the prior-year’s market-related value with contributions, disbursements and the expected return on plan assets. One third of the difference between the expected and the actual value is then added to or subtracted from the expected value to determine the new market-related value (see Note 8). | ||||||||||||||||
Equity-Based Compensation | ||||||||||||||||
All of our equity-based compensation, principally comprising UGI stock options, grants of UGI stock-based equity instruments and grants of AmeriGas Partners equity instruments (together with UGI stock-based equity instruments, “Units”), are measured at fair value on the grant date, date of modification or end of the period, as applicable. Compensation expense is recognized on a straight-line basis over the requisite service period. Depending upon the settlement terms of the awards, all or a portion of the fair value of equity-based awards may be presented as a liability or as equity in our Consolidated Balance Sheets. Equity-based compensation costs associated with the portion of Unit awards classified as equity are measured based upon their estimated fair value on the date of grant or modification. Equity-based compensation costs associated with the portion of Unit awards classified as liabilities are measured based upon their estimated fair value at the grant date and remeasured as of the end of each period. | ||||||||||||||||
We have calculated a tax windfall pool using the shortcut method. We record deferred tax assets for awards that we expect will result in deductions on our income tax returns based on the amount of compensation cost recognized and the statutory tax rate in the jurisdiction in which we will receive a deduction. Differences between the deferred tax assets recognized for financial reporting purposes and the actual tax benefit received on the income tax return are recorded in Common Stock (if the tax benefit exceeds the deferred tax asset) or in the Consolidated Statements of Income (if the deferred tax asset exceeds the tax benefit and no tax windfall pool exists from previous awards). | ||||||||||||||||
For additional information on our equity-based compensation plans and related disclosures, see Note 14. |
Revisions_and_Restatements_of_
Revisions and Restatements of Consolidated Financial Statements | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | ' | |||||||||||||||||||
Accounting Changes and Error Corrections [Text Block] | ' | |||||||||||||||||||
During the preparation of the Fiscal 2013 consolidated financial statements, management concluded that it had incorrectly accounted for certain commodity derivative instruments as cash flow hedges. Management had incorrectly applied the hedge accounting criteria when designating certain commodity derivative instruments at its Midstream & Marketing businesses as cash flow hedges. As a result, the accompanying financial statements as of and for the two years in the period ended September 30, 2012, have been revised to report changes in the fair values of unsettled commodity derivative instruments and gains and losses on settled commodity derivative instruments for which the associated forecasted transactions have not yet occurred in cost of sales or revenues in the Consolidated Statements of Income rather than in other comprehensive income. Management has discontinued the use of hedge accounting for substantially all of Midstream & Marketing’s commodity derivative instruments and has reported changes in the fair values of unsettled commodity derivative instruments, and gains and losses on settled commodity derivatives for which the associated forecasted transaction has not yet occurred, in net income. | ||||||||||||||||||||
Although the impact of the error was not material to the Company’s historical annual consolidated financial statements, management decided to revise its consolidated financial statements and disclosures to correct this error in accounting for the years ended September 30, 2012 and 2011. Management did conclude that the error in accounting was material to its consolidated financial statements for the fiscal quarters ended March 31, 2013, June 30, 2012, and December 31, 2011, and that it is necessary to restate the Company’s financial statements for those periods while the Company’s consolidated financial statements for other quarterly periods have been revised (see Note 21). | ||||||||||||||||||||
The following table sets forth the effects of the revision on affected line items within the Company’s previously reported consolidated financial statements for fiscal years ended September 30, 2012 and 2011. Also included in the adjustment columns in the tables below are certain other immaterial corrections that the Company made, including, but not limited to, adjustments to correct the Partnership’s accounting for certain customer credits and to correct the classification of deferred income tax assets, as further described below, as well as certain other minor adjustments related principally to the timing of certain expense and income accruals. | ||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||
30-Sep-12 | ||||||||||||||||||||
As Previously Reported | Adjustment | As Revised | ||||||||||||||||||
Assets: | ||||||||||||||||||||
Accounts receivable | $ | 632.6 | $ | (5.1 | ) | $ | 627.5 | |||||||||||||
Inventories | $ | 356.9 | $ | (2.8 | ) | $ | 354.1 | |||||||||||||
Deferred income taxes | $ | 56.8 | $ | (27.0 | ) | $ | 29.8 | |||||||||||||
Prepaid expenses and other current assets | $ | 98.7 | $ | 0.8 | $ | 99.5 | ||||||||||||||
Non-utility property, plant and equipment | $ | 4,223.40 | $ | 0.5 | $ | 4,223.90 | ||||||||||||||
Accumulated depreciation and amortization | $ | (2,286.0 | ) | $ | 0.8 | $ | (2,285.2 | ) | ||||||||||||
Liabilities and equity: | ||||||||||||||||||||
Accounts payable | $ | 411.3 | $ | (1.4 | ) | $ | 409.9 | |||||||||||||
Employee compensation and benefits accrued | $ | 91.1 | $ | (1.4 | ) | $ | 89.7 | |||||||||||||
Accrued interest | $ | 72.7 | $ | (1.1 | ) | $ | 71.6 | |||||||||||||
Other current liabilities | $ | 226.4 | $ | (0.8 | ) | $ | 225.6 | |||||||||||||
Deferred income taxes | $ | 935 | $ | (29.3 | ) | $ | 905.7 | |||||||||||||
Other noncurrent liabilities | $ | 616.7 | $ | 4.6 | $ | 621.3 | ||||||||||||||
Retained earnings | $ | 1,166.10 | $ | (10.1 | ) | $ | 1,156.00 | |||||||||||||
Accumulated other comprehensive (loss) income | $ | (62.0 | ) | $ | 6.8 | $ | (55.2 | ) | ||||||||||||
Noncontrolling interests, principally in AmeriGas Partners | $ | 1,085.70 | $ | (0.1 | ) | $ | 1,085.60 | |||||||||||||
During the three months ended September 30, 2013, we identified an error in the classification of deferred income tax assets on the September 30, 2012, Consolidated Balance Sheet in the amount of $27.0. The adjustment to correct this error is included in the table above in deferred income taxes (assets) and deferred income taxes (liabilities). | ||||||||||||||||||||
Consolidated Statements of Income | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | |||||||||||||||
Non-utility revenues | $ | 5,636.70 | $ | 2.1 | $ | 5,638.80 | $ | 4,955.80 | $ | (0.4 | ) | $ | 4,955.40 | |||||||
Non-utility cost of sales | $ | 3,652.10 | $ | (12.1 | ) | $ | 3,640.00 | $ | 3,332.40 | $ | (28.2 | ) | $ | 3,304.20 | ||||||
Operating and administrative expenses | $ | 1,591.70 | $ | (0.6 | ) | $ | 1,591.10 | $ | 1,266.40 | $ | 0.6 | $ | 1,267.00 | |||||||
Depreciation | $ | 264.2 | $ | (1.0 | ) | $ | 263.2 | $ | 201.2 | $ | (0.2 | ) | $ | 201 | ||||||
Other income, net | $ | (38.3 | ) | $ | (1.5 | ) | $ | (39.8 | ) | $ | (46.5 | ) | $ | 1 | $ | (45.5 | ) | |||
Operating income | $ | 521.3 | $ | 17.3 | $ | 538.6 | $ | 616 | $ | 26.4 | $ | 642.4 | ||||||||
Interest expense | $ | (221.5 | ) | $ | 1.1 | $ | (220.4 | ) | $ | (138.0 | ) | N/A | N/A | |||||||
Income before income taxes | $ | 286.2 | $ | 18.4 | $ | 304.6 | $ | 439 | $ | 26.4 | $ | 465.4 | ||||||||
Income taxes | $ | (99.6 | ) | $ | (7.3 | ) | $ | (106.9 | ) | $ | (130.8 | ) | $ | (14.6 | ) | $ | (145.4 | ) | ||
Net income | $ | 186.6 | $ | 11.1 | $ | 197.7 | $ | 308.2 | $ | 11.8 | $ | 320 | ||||||||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | $ | 12.8 | $ | (0.3 | ) | $ | 12.5 | $ | (75.3 | ) | $ | 0.7 | $ | (74.6 | ) | |||||
Net income attributable to UGI Corporation | $ | 199.4 | $ | 10.8 | $ | 210.2 | $ | 232.9 | $ | 12.5 | $ | 245.4 | ||||||||
Basic earnings per common share | $ | 1.77 | $ | 1.87 | $ | 2.09 | $ | 2.2 | ||||||||||||
Diluted earnings per common share | $ | 1.76 | $ | 1.85 | $ | 2.06 | $ | 2.17 | ||||||||||||
Consolidated Statements of Comprehensive Income | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | |||||||||||||||
Net income | $ | 186.6 | $ | 11.1 | $ | 197.7 | $ | 308.2 | $ | 11.8 | $ | 320 | ||||||||
Net (losses) gains on derivative instruments | $ | (127.1 | ) | $ | 21.7 | $ | (105.4 | ) | $ | (10.8 | ) | $ | 14.7 | $ | 3.9 | |||||
Reclassifications of net losses (gains) on derivative instruments | $ | 87.9 | $ | (31.6 | ) | $ | 56.3 | $ | 11.8 | $ | (30.8 | ) | $ | (19.0 | ) | |||||
Comprehensive income | $ | 114.3 | $ | 1.2 | $ | 115.5 | $ | 295.1 | $ | (4.3 | ) | $ | 290.8 | |||||||
Comprehensive income attributable to UGI Corporation | $ | 153.2 | $ | 0.9 | $ | 154.1 | $ | 225.3 | $ | (3.6 | ) | $ | 221.7 | |||||||
Consolidated Statements of Cash Flows | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | ||||||||||||||
Net income | $ | 186.6 | $ | 11.1 | $ | 197.7 | $ | 308.2 | $ | 11.8 | $ | 320 | ||||||||
Depreciation and amortization | $ | 316 | $ | (1.0 | ) | $ | 315 | $ | 227.9 | $ | (0.2 | ) | $ | 227.7 | ||||||
Deferred income taxes, net | $ | 82.9 | $ | 7.3 | $ | 90.2 | $ | 82.7 | $ | 8.8 | $ | 91.5 | ||||||||
Net change in realized gains and losses deferred as cash flow hedges | $ | (6.6 | ) | $ | 6.6 | $ | — | $ | 12.2 | $ | (12.2 | ) | $ | — | ||||||
Unrealized gains on derivative instruments | $ | — | $ | (17.2 | ) | $ | (17.2 | ) | $ | — | $ | (19.6 | ) | $ | (19.6 | ) | ||||
Other, net | $ | (10.7 | ) | $ | (6.8 | ) | $ | (17.5 | ) | $ | (7.1 | ) | $ | 11.4 | $ | 4.3 | ||||
Consolidated Statements of Changes in Equity | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | |||||||||||||||
Retained earnings | $ | 1,166.10 | $ | (10.1 | ) | $ | 1,156.00 | $ | 1,085.80 | $ | (20.9 | ) | $ | 1,064.90 | ||||||
Accumulated other comprehensive (loss) income | $ | (62.0 | ) | $ | 6.8 | $ | (55.2 | ) | $ | (17.7 | ) | $ | 16.7 | $ | (1.0 | ) | ||||
Noncontrolling interests | $ | 1,085.70 | $ | (0.1 | ) | $ | 1,085.60 | $ | 213.4 | $ | (0.4 | ) | $ | 213 | ||||||
During the three months ended March 31, 2013, the Partnership determined that the recording of propane revenues did not appropriately consider the effects of certain customer credits which were recorded in a subsequent period. Although the Company evaluated the impact of the error on prior periods and determined the effect was not material to any prior period financial statement and corrected the error during the three months ended March 31, 2013, the tables above include correction of the error in accounting for customer credits in the appropriate historical period. | ||||||||||||||||||||
The impacts of the corrections on the key financial metrics operating income, net income attributable to UGI Corporation and diluted earnings per share for the years ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||||||
Fiscal 2012 | Fiscal 2011 | |||||||||||||||||||
Operating income : | ||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 17 | $ | 27.6 | ||||||||||||||||
Partnership customer credits | (1.8 | ) | 0.1 | |||||||||||||||||
Other | 2.1 | (1.3 | ) | |||||||||||||||||
Total | $ | 17.3 | $ | 26.4 | ||||||||||||||||
Net income attributable to UGI Corporation: | ||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 10 | $ | 16.2 | ||||||||||||||||
Partnership customer credits | (0.6 | ) | — | |||||||||||||||||
Other | 1.4 | (3.7 | ) | |||||||||||||||||
Total | $ | 10.8 | $ | 12.5 | ||||||||||||||||
Diluted earnings per common share attributable to UGI Corporation stockholders: | ||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 0.09 | $ | 0.14 | ||||||||||||||||
Partnership customer credits | — | — | ||||||||||||||||||
Other | — | (0.03 | ) | |||||||||||||||||
Total | $ | 0.09 | $ | 0.11 | ||||||||||||||||
Accounting_Changes
Accounting Changes | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Accounting Changes | ' |
New Accounting Standards Not Yet Adopted | |
Disclosures about Reclassifications Out of Accumulated Other Comprehensive Income. In February 2013, the FASB issued new accounting guidance regarding disclosures for items reclassified out of AOCI. The new disclosure guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2012. The new disclosures are to be applied prospectively, and early adoption is permitted. We will adopt the new guidance in Fiscal 2014. As this guidance provides only disclosure requirements, the adoption of this standard will not impact our results of operations, cash flows or financial position. | |
Disclosures about Offsetting Assets and Liabilities. In December 2011 (and amended in January 2013), the FASB issued new accounting guidance requiring entities to disclose both gross and net information about recognized derivative instruments that are offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset on the balance sheet. The new guidance is effective for annual reporting periods beginning on or after January 1, 2013 (Fiscal 2014) and interim periods within those annual periods, and is required to be applied retrospectively. As this guidance provides only disclosure requirements, the adoption of this standard will not impact our results of operations, cash flows or financial position. |
Acquisitions_and_Dispositions
Acquisitions and Dispositions | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Acquisitions and Dispositions [Abstract] | ' | ||||||||
Acquisitions and Dispositions | ' | ||||||||
On January 12, 2012 (the “Acquisition Date”), AmeriGas Partners completed the acquisition of Heritage Propane from ETP for total consideration of $2,598.2, comprising $1,465.6 in cash and 29,567,362 AmeriGas Partners Common Units with a fair value of $1,132.6 (the “Heritage Acquisition”). The Acquisition Date cash consideration for the Heritage Acquisition was subject to purchase price adjustments based on working capital, cash and the amount of indebtedness of Heritage Propane (“Working Capital Adjustment”) and certain excess cash proceeds resulting from ETP’s sale of HOLP’s former cylinder exchange business (“HPX”). In April 2012, AmeriGas Partners paid $25.5 of additional cash consideration as a result of the Working Capital Adjustment and in June 2012, AmeriGas Partners received $18.9 in cash representing the excess cash proceeds from the sale of HPX. The Heritage Acquisition was consummated pursuant to a Contribution and Redemption Agreement dated October 15, 2011, as amended (the “Contribution Agreement”), by and among AmeriGas Partners, ETP, Energy Transfer Partners GP, L.P., the general partner of ETP (“ETP GP”), and Heritage ETC, L.P. (the “Contributor”). The acquired business conducted its propane operations in 41 states through HOLP and Titan LLC. According to LP-Gas Magazine rankings published on February 1, 2012, Heritage Propane was the third largest retail propane distributor in the United States, delivering over 500 million gallons to more than one million retail propane customers in 2011. The Heritage Acquisition is consistent with our growth strategies, one of which is to grow the Partnership’s core business through acquisitions. | |||||||||
Pursuant to the Contribution Agreement, the Contributor contributed to AmeriGas Partners a 99.999% limited partner interest in HOLP; a 100% membership interest in Heritage Operating GP, LLC, a Delaware limited liability company and a holder of a 0.001% general partner interest in HOLP; a 99.99% limited partner interest in Titan Energy Partners, L.P., a Delaware limited partnership and the sole member of Titan LLC; and a 100% membership interest in Titan Energy GP, L.L.C., a Delaware limited liability company and holder of a 0.01% general partner interest in Titan Energy Partners, L.P. As a result of the Heritage Acquisition, the General Partner, in order to maintain its general partner interests in AmeriGas Partners and AmeriGas OLP, contributed 934,327 Common Units to the Partnership having a fair value of $41.7. These Common Units were subsequently cancelled. | |||||||||
The cash portion of the Heritage Acquisition was financed by the issuance by AmeriGas Finance Corp. and AmeriGas Finance LLC, wholly owned finance subsidiaries of AmeriGas Partners (the “Issuers”), of $550 principal amount of 6.75% Senior Notes due May 2020 (the “6.75% Notes”) and $1,000 principal amount of 7.00% Senior Notes due May 2022 (the “7.00% Notes”). For further information on the 6.75% Notes and the 7.00% Notes, see Note 6. | |||||||||
The Consolidated Balance Sheet at September 30, 2012, reflects the final allocation of the purchase price to the assets acquired and liabilities assumed for the Heritage Propane business combination. The purchase price paid comprises AmeriGas Partners Common Units issued having a fair value of $1,132.6, and total cash consideration of $1,472.2 including cash acquired of $60.7. The fair value of the AmeriGas Partners Common Units issued to ETP was based on the closing price on the Acquisition Date subject to a discount to reflect certain contractual transfer restrictions for a period of approximately twelve months. The purchase price allocation was as follows: | |||||||||
Assets acquired: | |||||||||
Current assets | $ | 301.4 | |||||||
Property, plant & equipment | 890.2 | ||||||||
Customer relationships (estimated useful life of 15 years) | 418.9 | ||||||||
Trademarks and tradenames (a) | 91.1 | ||||||||
Goodwill (a) | 1,217.70 | ||||||||
Other assets | 9.9 | ||||||||
Total assets acquired | $ | 2,929.20 | |||||||
Liabilities assumed: | |||||||||
Current liabilities | $ | (238.1 | ) | ||||||
Long-term debt | (62.9 | ) | |||||||
Other noncurrent liabilities | (23.4 | ) | |||||||
Total liabilities assumed | $ | (324.4 | ) | ||||||
Total | $ | 2,604.80 | |||||||
(a) During Fiscal 2013, the Partnership made a correcting adjustment to trademarks and tradenames and goodwill which is not reflected in the table above. See Note 12. | |||||||||
Goodwill associated with the Heritage Acquisition principally results from synergies expected from combining the operations and from assembled workforce. The tax effects of such goodwill will be realized over a fifteen-year period. We allocated the purchase price of the acquisition to identifiable intangible assets based on estimated fair values. Tradenames and trademarks were valued using the relief from royalty method and customer relationships were valued using a discounted cash flow method. The relief from royalty method estimates our theoretical royalty savings from ownership of the tradenames and trademarks. Key assumptions used in this method include discount rates, royalty rates, growth rates and sales projections and are the assumptions most sensitive and susceptible to change as they require significant management judgment. The key assumptions used in the customer relationship discounted cash flow method include discount rates, growth rates and cash flow projections and are the assumptions most sensitive and susceptible to change as they require significant management judgment. We allocated the purchase price of the acquisition to property, plant and equipment based on estimated fair values primarily using replacement cost and market value methods. | |||||||||
Transaction expenses associated with the Heritage Acquisition, which are included in operating and administrative expenses in the Consolidated Statement of Income, totaled $5.3 for Fiscal 2012. The results of operations of Heritage Propane are included in the Consolidated Statements of Income since the Acquisition Date. As a result of combining the Heritage Propane operations with the Partnership’s legacy operations, it is impracticable to determine the impact of the Heritage Propane operations on the revenues and earnings of the Company. | |||||||||
The following presents unaudited pro forma income statement and earnings per share data for Fiscal 2012 and 2011 as if the Heritage Acquisition had occurred on October 1, 2010: | |||||||||
Fiscal 2012 | Fiscal 2011 | ||||||||
Revenues | $ | 7,013.00 | $ | 7,522.10 | |||||
Net income attributable to UGI Corporation | $ | 208.4 | $ | 236 | |||||
Earnings per common share attributable to UGI Corporation stockholders: | |||||||||
Basic | $ | 1.85 | $ | 2.11 | |||||
Diluted | $ | 1.84 | $ | 2.09 | |||||
The unaudited pro forma results of operations reflect Heritage Propane’s historical operating results after giving effect to adjustments directly attributable to the transaction that are expected to have a continuing effect. The unaudited pro forma consolidated results of operations are not necessarily indicative of the results that would have occurred had the Heritage Acquisition occurred on the date indicated nor are they necessarily indicative of future operating results. | |||||||||
During Fiscal 2013, Flaga acquired BP’s LPG distribution business in Poland for total cash consideration of approximately $36 which Flaga financed with cash proceeds from the issuance of long-term debt (see Note 6) and its purchase price has been preliminarily allocated to the assets acquired and liabilities assumed; AmeriGas OLP acquired two domestic retail propane distribution businesses for approximately $20 in cash; and Energy Services acquired a non-operating working interest in natural gas acreage in the Marcellus Shale region of Pennsylvania for approximately $23 in cash. In October 2011, we acquired Shell’s LPG distribution businesses in (1) Belgium, the Netherlands and Luxembourg through Antargaz; (2) Denmark, Finland, Norway and Sweden through Flaga; and (3) the United Kingdom through UGI Midlands Limited (a second-tier subsidiary of Enterprises), for a total of €133.6 ($179.0) in cash (the “Shell Transaction”). Also during Fiscal 2012, AmeriGas OLP acquired a number of smaller domestic retail propane distribution businesses for $13.5 in cash. During Fiscal 2011, AmeriGas OLP acquired a number of domestic retail propane distribution businesses for $34.0 in cash, and Flaga acquired a propane distribution business in Poland for total cash consideration of approximately $19.0. |
Debt
Debt | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||
Debt | ' | |||||||||||||||||||
Long-term debt comprises the following at September 30: | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
AmeriGas Propane: | ||||||||||||||||||||
AmeriGas Partners Senior Notes: | ||||||||||||||||||||
7.00%, due May 2022 | $ | 980.8 | $ | 980.8 | ||||||||||||||||
6.75%, due May 2020 | 550 | 550 | ||||||||||||||||||
6.50%, due May 2021 | 270 | 270 | ||||||||||||||||||
6.25%, due August 2019 | 450 | 450 | ||||||||||||||||||
HOLP Senior Secured Notes | 32 | 55.6 | ||||||||||||||||||
Other | 17.3 | 21.6 | ||||||||||||||||||
Total AmeriGas Propane | 2,300.10 | 2,328.00 | ||||||||||||||||||
UGI International: | ||||||||||||||||||||
Antargaz Senior Facilities term loan, due through March 2016 | 514 | 488.7 | ||||||||||||||||||
Flaga term loan, due September 2016 | 52 | — | ||||||||||||||||||
Flaga term loan, due through September 2016 | 54.1 | 51.4 | ||||||||||||||||||
Flaga term loan, due October 2016 | 25.8 | 24.6 | ||||||||||||||||||
Flaga term loan, due through June 2014 | 1.9 | 3.6 | ||||||||||||||||||
Other | 6.6 | 5.6 | ||||||||||||||||||
Total UGI International | 654.4 | 573.9 | ||||||||||||||||||
UGI Utilities: | ||||||||||||||||||||
Term Loan Credit Agreement | 175 | — | ||||||||||||||||||
Senior Notes: | ||||||||||||||||||||
6.375%, due September 2013 | — | 108 | ||||||||||||||||||
5.75%, due September 2016 | 175 | 175 | ||||||||||||||||||
6.21%, due September 2036 | 100 | 100 | ||||||||||||||||||
Medium-Term Notes: | ||||||||||||||||||||
5.37%, due August 2013 | — | 25 | ||||||||||||||||||
5.16%, due May 2015 | 20 | 20 | ||||||||||||||||||
7.37%, due October 2015 | 22 | 22 | ||||||||||||||||||
5.64%, due December 2015 | 50 | 50 | ||||||||||||||||||
6.17%, due June 2017 | 20 | 20 | ||||||||||||||||||
7.25%, due November 2017 | 20 | 20 | ||||||||||||||||||
5.67%, due January 2018 | 20 | 20 | ||||||||||||||||||
6.50%, due August 2033 | 20 | 20 | ||||||||||||||||||
6.13%, due October 2034 | 20 | 20 | ||||||||||||||||||
Total UGI Utilities | 642 | 600 | ||||||||||||||||||
Other | 12.9 | 12.4 | ||||||||||||||||||
Total long-term debt | 3,609.40 | 3,514.30 | ||||||||||||||||||
Less: current maturities | (67.2 | ) | (166.7 | ) | ||||||||||||||||
Total long-term debt due after one year | $ | 3,542.20 | $ | 3,347.60 | ||||||||||||||||
Scheduled principal repayments of long-term debt due in fiscal years 2014 to 2018 follow: | ||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||
AmeriGas Propane | $ | 12 | $ | 9.3 | $ | 7 | $ | 5 | $ | 4.3 | ||||||||||
UGI Utilities (a) | — | 20 | 247 | 20 | 40 | |||||||||||||||
UGI International | 55.4 | 47.9 | 523.4 | 26.7 | 0.5 | |||||||||||||||
Other | 0.6 | 0.7 | 0.7 | 0.7 | 0.8 | |||||||||||||||
Total | $ | 68 | $ | 77.9 | $ | 778.1 | $ | 52.4 | $ | 45.6 | ||||||||||
(a) UGI Utilities $175 Term Loan Credit Agreement borrowings anticipated to be refinanced on a long-term basis in March 2014 pursuant to a Note Purchase Agreement as further described below are excluded from the table above. | ||||||||||||||||||||
AmeriGas Propane | ||||||||||||||||||||
In order to finance the cash portion of the Heritage Acquisition, on January 12, 2012, the Issuers issued $550 principal amount of 6.75% Notes due May 2020 and $1,000 principal amount of 7.00% Notes due May 2022. The 6.75% Notes and the 7.00% Notes are fully and unconditionally guaranteed on a senior unsecured basis by AmeriGas Partners. The Issuers have the right to redeem the 6.75% Notes, in whole or in part, at any time on or after May 20, 2016, and to redeem the 7.00% Notes, in whole or in part, at any time on or after May 20, 2017, subject to certain restrictions. A premium applies to redemptions of the 6.75% Notes and 7.00% Notes through May 2018 and May 2020, respectively. On or prior to May 20, 2015, the Issuers may also redeem, at a premium and subject to certain restrictions, up to 35% of each of the 6.75% Notes and the 7.00% Notes with the proceeds of an AmeriGas Partners registered public equity offering. The 6.75% Notes and the 7.00% Notes and the guarantees rank equal in right of payment with all of AmeriGas Partners’ existing Senior Notes. In connection with the Heritage Acquisition, AmeriGas Partners, AmeriGas Finance Corp., AmeriGas Finance LLC and UGI entered into a Contingent Residual Support Agreement (“CRSA”) with ETP pursuant to which ETP will provide contingent, residual support of $1,500 of debt (“Supported Debt” as defined in the CRSA). | ||||||||||||||||||||
On March 28, 2012, AmeriGas Partners announced that holders of approximately $383.5 in aggregate principal amount of outstanding 6.50% Senior Notes due May 2021 (the “6.50% Notes”), representing approximately 82% of the total $470 principal amount outstanding, had validly tendered their notes in connection with the Partnership’s March 14, 2012, offer to purchase for cash up to $200 of the 6.50% Notes. Tendered 6.50% Notes in the amount of $200 were redeemed on March 28, 2012, at an effective price of 105% using an approximate proration factor of 52.3% of total notes tendered. During June 2012, AmeriGas Partners repurchased approximately $19.2 aggregate principal amount of outstanding 7.00% Notes. The Partnership recorded a net loss of $13.3 on these extinguishments of debt which amount is reflected on the Fiscal 2012 Consolidated Statement of Income under the caption loss on extinguishments of debt. The net loss reduced net income attributable to UGI Corporation by $2.2 during Fiscal 2012. | ||||||||||||||||||||
In January 2011, AmeriGas Partners issued $470 principal amount of 6.50% Notes due May 2021. The proceeds from the issuance of the 6.50% Notes were used in February 2011 to repay AmeriGas Partners’ $415 principal amount of its 7.25% Senior Notes due May 2015 pursuant to a tender offer and subsequent redemption. In addition, in February 2011, AmeriGas Partners redeemed the outstanding $14.6 principal amount of its 8.875% Senior Notes due May 2011. The Partnership incurred a loss of $18.8 on these extinguishments of debt which amount is reflected on the Fiscal 2011 Consolidated Statement of Income under the caption loss on extinguishments of debt. This loss reduced net income attributable to UGI Corporation by $5.2 during Fiscal 2011. | ||||||||||||||||||||
In August 2011, AmeriGas Partners issued $450 principal amount of 6.25% Senior Notes due August 2019 (the “6.25% Senior Notes”). The proceeds from the issuance of the 6.25% Senior Notes were used to repay $350 principal amount of AmeriGas Partners 7.125% Senior Notes due May 2016 pursuant to a tender offer and subsequent redemption. The Partnership incurred a loss of $19.3 on this extinguishment of debt which amount is reflected on the Fiscal 2011 Consolidated Statement of Income under the caption loss on extinguishments of debt. This loss reduced net income attributable to UGI Corporation by $5.2 during Fiscal 2011. | ||||||||||||||||||||
The 6.50% and 6.25% Senior Notes generally may be redeemed at our option (pursuant to a tender offer). A redemption premium applies through May 2019 (with respect to the 6.50% Notes) and through August 2017 (with respect to the 6.25% Notes). In addition, in the event that AmeriGas Partners completes a registered public offering of Common Units, the Partnership may, at its option, redeem up to 35% of the outstanding 6.50% Notes (through May 20, 2014) or 35% of the outstanding 6.25% Notes (through August 20, 2014), each at a premium. AmeriGas Partners may, under certain circumstances involving excess sales proceeds from the disposition of assets not reinvested in the business or a change of control, be required to offer to prepay its 6.50% and 6.25% Senior Notes. | ||||||||||||||||||||
The Partnership’s total long-term debt at September 30, 2013, includes $32.0 of HOLP Senior Secured Notes (including unamortized premium of $3.7). At September 30, 2013, the face interest rates on the HOLP Notes range from 7.89% to 8.87% with an effective interest rate of 6.75%. The HOLP Senior Secured Notes are collateralized by AmeriGas OLP’s receivables, contracts, equipment, inventory, general intangibles and cash. | ||||||||||||||||||||
AmeriGas OLP has an unsecured credit agreement (the “AmeriGas Credit Agreement”) with a group of banks providing for borrowings up to $525 (including a $125 sublimit for letters of credit) which expires in October 2016. The AmeriGas Credit Agreement permits AmeriGas OLP to borrow at prevailing interest rates, including the base rate, defined as the higher of the Federal Funds rate plus 0.50% or the agent bank’s prime rate, or at a one-week, one-, two-, three-, or six-month Eurodollar Rate, as defined in the AmeriGas Credit Agreement, plus a margin. The margin on base rate borrowings (which ranges from 0.75% to 1.75%), Eurodollar Rate borrowings (which ranges from 1.75% to 2.75%), and the AmeriGas Credit Agreement facility fee rate (which ranges from 0.30% to 0.50%) are dependent upon AmeriGas Partners’ ratio of debt to earnings before interest expense, income taxes, depreciation and amortization (“EBITDA”), each as defined in the AmeriGas Credit Agreement. | ||||||||||||||||||||
At September 30, 2013 and 2012, there were $116.9 and $49.9, respectively, of borrowings outstanding under the AmeriGas Credit Agreement, which amounts are reflected as bank loans on the Consolidated Balance Sheets. The weighted-average interest rates on AmeriGas Credit Agreement borrowings at September 30, 2013 and 2012, were 2.69% and 2.72%, respectively. At September 30, 2013 and 2012, issued and outstanding letters of credit, which reduce available borrowings under the AmeriGas Credit Agreement, totaled $53.7 and $47.9, respectively. | ||||||||||||||||||||
Restrictive Covenants. The AmeriGas Partners Senior Notes restrict the ability of the Partnership and AmeriGas OLP to, among other things, incur additional indebtedness, make investments, incur liens, issue preferred interests, prepay subordinated indebtedness, and effect mergers, consolidations and sales of assets. Under the AmeriGas Partners Senior Notes Indentures, AmeriGas Partners is generally permitted to make cash distributions equal to Available Cash, as defined, as of the end of the immediately preceding quarter, if certain conditions are met. At September 30, 2013, these restrictions did not limit the amount of Available Cash. See Note 15 for definition of Available Cash included in the Fourth Amended and Restated Agreement of Limited Partnership of AmeriGas Partners, L.P. (“Partnership Agreement”). | ||||||||||||||||||||
The HOLP Senior Secured Notes contain restrictive covenants including the maintenance of financial covenants and limitations on the disposition of assets, changes in ownership, additional indebtedness, restrictive payments and the creation of liens. The financial covenants require AmeriGas OLP to maintain a ratio of Consolidated Funded Indebtedness to Consolidated EBITDA (as defined) below certain thresholds and to maintain a minimum ratio of Consolidated EBITDA to Consolidated Interest Expense (as defined). | ||||||||||||||||||||
The AmeriGas Credit Agreement restricts the incurrence of additional indebtedness and also restrict certain liens, guarantees, investments, loans and advances, payments, mergers, consolidations, asset transfers, transactions with affiliates, sales of assets, acquisitions and other transactions. The AmeriGas Credit Agreement requires that the Partnership and AmeriGas OLP maintain ratios of total indebtedness to EBITDA, as defined, below certain thresholds. In addition, the Partnership must maintain a minimum ratio of EBITDA to interest expense, as defined, as calculated on a rolling four-quarter basis. Generally, as long as no default exists or would result, the Partnership and AmeriGas OLP are permitted to make cash distributions not more frequently than quarterly in an amount not to exceed available cash, as defined, for the immediately preceding calendar quarter. | ||||||||||||||||||||
UGI International | ||||||||||||||||||||
In March 2011, Antargaz entered into a five-year Senior Facilities Agreement with a consortium of banks (“Senior Facilities Agreement”) consisting of a €380 ($514.0) variable-rate term loan and a €40 credit facility. The proceeds from the Senior Facilities Agreement term loan were used to repay Antargaz’ then-existing Senior Facilities Agreement term loan due March 2011. | ||||||||||||||||||||
Scheduled maturities under the term loan are €38 ($51.4) due May 2014, €34.2 ($46.3) due May 2015, and €307.8 ($416.3) due March 2016. Borrowings under the Senior Facilities Agreement bear interest at one-, two-, three- or six-month euribor, plus a margin, as defined by the Senior Facilities Agreement. There were no amounts outstanding under the Senior Facilities Agreement at September 30, 2013 or 2012. The margin on the term loan and credit facility borrowings (which ranges from 1.75% to 2.50%) is dependent upon the ratio of Antargaz’ total net debt to EBITDA, each as defined in the Senior Facilities Agreement. Antargaz has entered into pay-fixed, receive-variable interest rate swaps to fix the underlying euribor rate of interest on the term loan at an average rate of approximately 2.45% through September 2015 and, thereafter, at a rate of 3.71% through the date of the term loan’s final maturity in March 2016. At September 30, 2013 and 2012, the effective interest rates on Antargaz’ term loan were 4.41% and 4.66%, respectively. The Senior Facilities Agreement is collateralized by substantially all of Antargaz’ shares in its subsidiaries and by substantially all of its accounts receivables. | ||||||||||||||||||||
In order to finance the purchase of BP’s LPG distribution business in Poland in September 2013, Flaga entered into a $52 U.S. dollar-denominated three-year term loan which matures in September 2016. The $52 loan bears interest at one- to twelve-month euribor rates (as chosen by Flaga from time to time) plus a margin of 1.25%. Flaga has effectively fixed the euribor component of the interest rate, and has effectively fixed the U.S. dollar value of the interest and principal payments payable under the $52 loan, by entering into a cross-currency swap arrangement with a bank. At September 30, 2013, the effective interest rate on the $52 loan was 1.82%. | ||||||||||||||||||||
In December 2011, Flaga entered into a €19.1 ($25.8) euro-based variable-rate term loan agreement. Proceeds from the term loan were used, in large part, to fund Flaga’s October 2011 acquisition of Shell’s LPG propane businesses in Finland, Norway, Sweden and Denmark. The term loan matures in October 2016 and bears interest at three-month euribor rates plus a margin. The margin on such borrowings ranges from 1.175% to 2.525% and is based upon certain consolidated equity, return on assets and debt to EBITDA ratios. Flaga has effectively fixed the euribor component of the interest rate on this term loan at 1.79% by entering into an interest rate swap agreement. The effective interest rates on this term loan at September 30, 2013 and 2012, was 3.85% and 4.35%, respectively. | ||||||||||||||||||||
In September 2011, Flaga entered into a €40 euro-based variable-rate term loan of which €26.7 ($36.1) matures in August 2016 and €13.3 ($18.0) matures in September 2016. A portion of the proceeds from the loan were used to repay its €24.0 euro-based variable-rate term loan which matured during Fiscal 2011. The €40 euro-based term loan bears interest at one- to twelve-month euribor rates (as chosen by Flaga from time to time) plus a margin. The margin on such borrowings ranges from 0.23% to 2.55% and is based upon certain consolidated equity, return on assets and debt to EBITDA ratios. Flaga has effectively fixed the euribor component of its interest rate on this term loan through September 2016 at 2.68% by entering into interest rate swap agreements. The effective interest rates on Flaga’s term loans at September 30, 2013 and 2012, were 4.68% and 5.18%, respectively. | ||||||||||||||||||||
As of September 30, 2013 and 2012, Flaga also has a euro-based variable-rate term loan which had outstanding principal balances of €1.4 ($1.9) and €2.8 ($3.6), respectively. This term loan matures in June 2014 and bears interest at three-month euribor rates plus a margin. The margin on such borrowings ranges from 2.625% to 3.50% and is based upon certain consolidated equity, return on assets and debt to EBITDA ratios. Semi-annual principal payments of €0.7 are due on December 31 and June 30 each year through June 2014. Flaga has effectively fixed the euribor component of the interest rate on this term loan at 2.16% by entering into an interest rate swap agreement. As of September 30, 2013 and 2012, the effective interest rate on this term loan was 5.04%. | ||||||||||||||||||||
At September 30, 2013, Flaga has two principal working capital facilities (the “Flaga Credit Agreements”) comprising (1) a €46 multi-currency working capital facility which includes an uncommitted €6 overdraft facility (the “Multi-Currency Working Capital Facility”) and (2) a euro-denominated working capital facility that provides for borrowings and issuances of guarantees totaling €12 (the “Euro Working Capital Facility”). Both the Multi-Currency Working Capital Facility and the Euro Working Capital Facility expire in September 2014. At September 30, 2013 and 2012, there were €0.2 ($0.3) and €11.9 ($15.3) of borrowings outstanding under the Flaga Credit Agreements. These amounts are reflected as bank loans on the Consolidated Balance Sheets. | ||||||||||||||||||||
Borrowings under the Flaga Credit Agreements generally bear interest at market rates (a daily euro-based rate or three-month euribor rates) plus a margin. The weighted-average interest rates on Flaga Credit Agreements borrowings at September 30, 2013 and 2012, were 4.21% and 2.31%, respectively. Issued and outstanding letters of credit, which reduce available borrowings under the Flaga Credit Agreements, totaled €28.6 ($38.7) and €19.2 ($24.7) at September 30, 2013 and 2012, respectively. | ||||||||||||||||||||
Restrictive Covenants and Guarantees. The Senior Facilities Agreement restricts the ability of Antargaz to, among other things, incur additional indebtedness, make investments, incur liens, and effect mergers, consolidations and sales of assets, and requires Antargaz to maintain a ratio of net debt to EBITDA on a French generally accepted accounting basis, as defined in the agreement, that shall not exceed 3.50 to 1.00. Under this agreement, Antargaz is generally permitted to make restricted payments, such as dividends if no event of default exists or would exist upon payment of such restricted payment. UGI has guaranteed up to €100 of payments under the Senior Facilities Agreement. | ||||||||||||||||||||
The Flaga term loans, working capital facilities and interest rate and cross currency agreements are guaranteed by UGI. In addition, under certain conditions regarding changes in certain financial ratios of UGI, the lending banks may accelerate repayment of the debt. | ||||||||||||||||||||
UGI Utilities | ||||||||||||||||||||
In September 2013, UGI Utilities entered into a 364-day term loan credit agreement (“UGI Utilities Term Loan Credit Agreement”) with a bank comprising a $175 unsecured term loan facility. The UGI Utilities Term Loan Credit Agreement bears interest at the eurodollar rate for the interest period selected, plus a margin of 0.60%. The UGI Utilities Term Loan Credit Agreement terminates on September 22, 2014, but UGI Utilities may prepay the loan in whole or in part, without penalty. UGI Utilities borrowed $175 on September 30, 2013, under the UGI Utilities Term Loan Credit Agreement which cash proceeds were used to repay UGI Utilities’ $108 million 6.375% Senior Notes due September 30, 2013, and for other general corporate purposes. On October 30, 2013, UGI Utilities entered into a Note Purchase Agreement which provides for the private placement of $175 aggregate principal amount of 4.98% Senior Notes due March 26, 2044. UGI Utilities expects to use net proceeds from the issuance of $175 face amount of 4.98% Senior Notes in March 2014 to repay then-outstanding borrowings under the UGI Utilities Term Loan Credit Agreement. Because the Company has the intent and ability to refinance the UGI Utilities Term Loan Credit Agreement on a long-term basis, amounts outstanding under the UGI Utilities Term Loan Agreement are classified as long-term on the September 30, 2013 Consolidated Balance Sheet. | ||||||||||||||||||||
UGI Utilities has an unsecured credit agreement (“UGI Utilities Credit Agreement”) with a group of banks providing for borrowings up to $300 (including a $100 sublimit for letters of credit) which expires in October 2015. Under the UGI Utilities 2011 Credit Agreement, UGI Utilities may borrow at various prevailing market interest rates, including LIBOR and the banks’ prime rate, plus a margin. The margin on such borrowings ranges from 0.0% to 2.0% and is based upon the credit ratings of certain indebtedness of UGI Utilities. UGI Utilities had $17.5 and $9.2 of borrowings outstanding under the UGI Utilities Credit Agreement at September 30, 2013 and 2012, respectively, which amounts are reflected in bank loans on the Consolidated Balance Sheets. The weighted-average interest rates on UGI Utilities Credit Agreement borrowings at September 30, 2013 and 2012 were 1.18% and 1.21%, respectively. Issued and outstanding letters of credit, which reduce available borrowings under the UGI Utilities Credit Agreement, totaled $2.0 at September 30, 2013 and 2012. | ||||||||||||||||||||
Restrictive Covenants. UGI Utilities Credit Agreement requires UGI Utilities not to exceed a ratio of Consolidated Debt to Consolidated Total Capital, as defined, of 0.65 to 1.00. | ||||||||||||||||||||
Energy Services | ||||||||||||||||||||
Energy Services has an unsecured credit agreement (“Energy Services Credit Agreement”) with a group of lenders providing for borrowings of up to $240 (including a $50 sublimit for letters of credit) which expires in June 2016. The Energy Services Credit Agreement can be used for general corporate purposes of Energy Services and its subsidiaries. In addition, Energy Services may not pay a dividend unless, after giving effect to such dividend payment, the ratio of Consolidated Total Indebtedness to EBITDA, each as defined in the Energy Services Credit Agreement, does not exceed 2.25 to 1.00. There were $57 and $85 of borrowings outstanding under the Energy Services Credit Agreement at September 30, 2013 and 2012, respectively. These amounts are reflected as bank loans on the Consolidated Balance Sheets. | ||||||||||||||||||||
Borrowings under the Energy Services Credit Agreement bear interest at either (i) a rate derived from LIBOR (the “LIBO Rate”) plus 2.5% for each Eurodollar Revolving Loan (as defined in the Energy Services Credit Agreement) or (ii) the Alternate Base Rate plus 1.5%. The Alternate Base Rate (as defined in the Energy Services Credit Agreement) is generally the greater of (a) the Agent Bank’s prime rate, (b) the federal funds rate plus 0.50% and (c) the one-month LIBO Rate plus 1.0%. The weighted-average interest rates on the Energy Services Credit Agreement borrowings at September 30, 2013 and 2012, were 2.91% and 3.25%, respectively. The Energy Services Credit Agreement is guaranteed by certain subsidiaries of Energy Services. | ||||||||||||||||||||
Restrictive Covenants. The Energy Services Credit Agreement restricts the ability of Energy Services to dispose of assets, effect certain consolidations or mergers, incur indebtedness and guaranty obligations, create liens, make acquisitions or investments, make certain dividend or other distributions and make any material changes to the nature of its businesses. In addition, the Energy Services Credit Agreement requires Energy Services to not exceed a ratio of Consolidated Total Indebtedness, as defined, to Consolidated EBITDA, as defined; a minimum ratio of Consolidated EBITDA to Consolidated Interest Expense, as defined; a maximum ratio of Consolidated Total Indebtedness to Consolidated Total Capitalization, as defined, at any time when Consolidated Total Indebtedness is greater than $250; and a minimum Consolidated Net Worth, as defined, of $200. | ||||||||||||||||||||
Energy Services also has a receivables securitization facility (see Note 19). | ||||||||||||||||||||
Restricted Net Assets | ||||||||||||||||||||
At September 30, 2013, the amount of net assets of UGI’s consolidated subsidiaries that was restricted from transfer to UGI under debt agreements, subsidiary partnership agreements and regulatory requirements under foreign laws totaled approximately $1,500. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Income Tax Expense (Benefit) [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income before income taxes comprises the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | 494.1 | $ | 245.6 | $ | 415.2 | ||||||
Foreign | 96.3 | 59 | 50.2 | |||||||||
Total income before income taxes | $ | 590.4 | $ | 304.6 | $ | 465.4 | ||||||
The provisions for income taxes consist of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current expense (benefit): | ||||||||||||
Federal | $ | 53.3 | $ | (10.4 | ) | $ | 24.4 | |||||
State | 25.1 | 11.2 | 14.5 | |||||||||
Foreign | 37.3 | 18.8 | 15 | |||||||||
Investment tax credit | (1.6 | ) | (2.9 | ) | — | |||||||
Total current expense | 114.1 | 16.7 | 53.9 | |||||||||
Deferred expense (benefit): | ||||||||||||
Federal | 54.6 | 81.7 | 86 | |||||||||
State | (0.7 | ) | 7 | 4.5 | ||||||||
Foreign | (4.9 | ) | 1.8 | 1.4 | ||||||||
Investment tax credit amortization | (0.3 | ) | (0.3 | ) | (0.4 | ) | ||||||
Total deferred expense | 48.7 | 90.2 | 91.5 | |||||||||
Total income tax expense | $ | 162.8 | $ | 106.9 | $ | 145.4 | ||||||
Federal income taxes for Fiscal 2013 and Fiscal 2012 are net of foreign tax credits of $34.9 and $5.2, respectively. | ||||||||||||
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Difference in tax rate due to: | ||||||||||||
Noncontrolling interests not subject to tax | (8.7 | ) | 1.2 | (5.6 | ) | |||||||
State income taxes, net of federal benefit | 3.4 | 4 | 2.4 | |||||||||
Valuation allowance adjustments | (0.5 | ) | (1.5 | ) | — | |||||||
Effects of foreign operations | (1.8 | ) | (3.3 | ) | (0.5 | ) | ||||||
Other, net | 0.2 | (0.3 | ) | (0.1 | ) | |||||||
Effective tax rate | 27.6 | % | 35.1 | % | 31.2 | % | ||||||
The effects of foreign operations in the table above for Fiscal 2012 reflects the impact of tax efficient structuring of certain of our international operations and, as a result of the Fiscal 2012 Shell Transaction, also reflects a greater proportion of pretax income in countries in which the statutory income tax rate is less than the U.S. statutory tax rate. The tax restructuring of certain of our international operations also permitted us to reduce our foreign tax credit valuation allowance by $4.6 during Fiscal 2012 which is included as a valuation allowance adjustment in the table above. | ||||||||||||
Earnings of the Company’s foreign subsidiaries are generally subject to U.S. taxation upon repatriation to the U.S. and the Company’s tax provision reflects the related incremental U.S. tax except for certain foreign subsidiaries whose unremitted earnings are considered to be indefinitely reinvested. Because of the availability of U.S. foreign tax credits, it is likely no U.S. tax would be due if such earnings were repatriated. | ||||||||||||
Pennsylvania utility ratemaking practice permits the flow through to ratepayers of state tax benefits resulting from accelerated tax depreciation. For Fiscal 2013, Fiscal 2012 and Fiscal 2011, the beneficial effects of state tax flow through of accelerated depreciation reduced income tax expense by $1.5, $3.2 and $7.9, respectively. The state tax flow through amounts in Fiscal 2012 and Fiscal 2011 reflect the impact of 2010 U.S. Federal tax legislation that allowed taxpayers to fully deduct qualifying capital expenditures incurred after September 8, 2010, through the end of calendar 2011, when such property was placed in service before 2012. This legislation was also permitted for Pennsylvania state corporate income tax purposes. | ||||||||||||
Deferred tax liabilities (assets) comprise the following at September 30: | ||||||||||||
2013 | 2012 | |||||||||||
Excess book basis over tax basis of property, plant and equipment | $ | 626.9 | $ | 582 | ||||||||
Investment in AmeriGas Partners | 313 | 292.8 | ||||||||||
Intangible assets and goodwill | 65.1 | 61.2 | ||||||||||
Utility regulatory assets | 101.6 | 140.4 | ||||||||||
Foreign currency translation adjustment | 9.5 | 3.6 | ||||||||||
Other | 2.7 | 4.1 | ||||||||||
Gross deferred tax liabilities | 1,118.80 | 1,084.10 | ||||||||||
Pension plan liabilities | (36.2 | ) | (72.7 | ) | ||||||||
Employee-related benefits | (47.9 | ) | (43.0 | ) | ||||||||
Operating loss carryforwards | (32.1 | ) | (33.4 | ) | ||||||||
Foreign tax credit carryforwards | (81.8 | ) | (55.5 | ) | ||||||||
Utility regulatory liabilities | (15.5 | ) | (11.8 | ) | ||||||||
Derivative financial instruments | (15.0 | ) | (37.7 | ) | ||||||||
Other | (20.5 | ) | (31.1 | ) | ||||||||
Gross deferred tax assets | (249.0 | ) | (285.2 | ) | ||||||||
Deferred tax assets valuation allowance | 97.6 | 77 | ||||||||||
Net deferred tax liabilities | $ | 967.4 | $ | 875.9 | ||||||||
At September 30, 2013, foreign net operating loss carryforwards principally relating to Flaga and certain operations of Antargaz totaled $47.7 and $5.3, respectively, with no expiration dates. We have state net operating loss carryforwards primarily relating to certain subsidiaries which approximate $224.9 and expire through 2033. We also have operating loss carryforwards of $15.7 for certain operations of AmeriGas Propane that expire through 2033. At September 30, 2013, deferred tax assets relating to operating loss carryforwards include $11.0 for Flaga, $1.8 for Antargaz, $0.9 for UGI International Holdings BV, $6.1 for AmeriGas Propane and $17.6 for certain other subsidiaries. A valuation allowance of $13.5 has been provided for deferred tax assets related to state net operating loss carryforwards and other state deferred tax assets of certain subsidiaries because, on a state reportable basis, it is more likely than not that these assets will expire unused. Valuation allowances for net operating loss tax benefits decreased by $4.7 primarily due to changes in entities that will now allow carryforward use of previously incurred losses. A valuation allowance of $7.9 was also provided for deferred tax assets related to certain operations of Antargaz, Flaga and UGI International Holdings BV. Operating activities and tax deductions related to the exercise of non-qualified stock options contributed to the state net operating losses disclosed above. We first recognize the utilization of state net operating losses from operations (which exclude the impact of tax deductions for exercises of non-qualified stock options) to reduce income tax expense. Then, to the extent state net operating loss carryforwards, if realized, relate to non-qualified stock option deductions, the resulting benefits will be credited to UGI Corporation stockholders’ equity. The table of deferred tax assets and liabilities do not include $5.6 for Fiscal 2013 and $4.6 for Fiscal 2012 of deferred tax assets and associated valuation allowance for unrealized state tax benefits for equity compensation deductions. | ||||||||||||
We have foreign tax credit carryforwards of approximately $81.8 expiring through 2023 resulting from the actual and planned repatriation of Antargaz’ accumulated earnings since acquisition which are includable in U.S. taxable income. Because we expect that these credits will expire unused, a valuation allowance has been provided for the entire foreign tax credit carryforward amount. The valuation allowance for all deferred tax assets increased by $20.6 in Fiscal 2013 due to an increase in unusable foreign tax credits of $26.3 partially offset by decreases in unusable state and federal operating loss tax benefits of $4.7 and $1.0, respectively, as a result of changes in entity status. | ||||||||||||
We conduct business and file tax returns in the U.S., numerous states, local jurisdictions and in France and certain other European countries. Our U.S. federal income tax returns are settled through the 2009 tax year, our French tax returns are settled through the 2009 tax year. Our Austrian tax returns are settled through 2007 and our other European tax returns are effectively settled for various years from 2005 to 2010. State and other income tax returns in the U.S. are generally subject to examination for a period of three to five years after the filing of the respective returns. | ||||||||||||
As of September 30, 2013, we have unrecognized income tax benefits totaling $3.6 including related accrued interest of $0.2. If these unrecognized tax benefits were subsequently recognized, $2.4 would be recorded as a benefit to income taxes on the Consolidated Statement of Income and, therefore, would impact the reported effective tax rate. Generally, a net reduction in unrecognized tax benefits could occur because of the expiration of the statute of limitations in certain jurisdictions or as a result of settlements with tax authorities. Included in the balance at September 30, 2013, are $1.1 of tax positions for which the deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, the disallowance of the current deduction would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. There is an expected change in unrecognized tax benefits and related interest in the next twelve months in the amount of $0.7. | ||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: | ||||||||||||
Balance at September 30, 2010 | $ | 5.4 | ||||||||||
Additions for tax positions of the current year | 0.4 | |||||||||||
Additions for tax positions taken in prior years | 1 | |||||||||||
Settlements with tax authorities | (0.5 | ) | ||||||||||
Balance at September 30, 2011 | 6.3 | |||||||||||
Additions for tax positions of the current year | 0.5 | |||||||||||
Additions for tax positions taken in prior years | 0.6 | |||||||||||
Settlements with tax authorities | (4.5 | ) | ||||||||||
Balance at September 30, 2012 | 2.9 | |||||||||||
Additions for tax positions of the current year | 0.7 | |||||||||||
Settlements with tax authorities | (0.2 | ) | ||||||||||
Balance at September 30, 2013 | $ | 3.4 | ||||||||||
Employee_Retirement_Plans
Employee Retirement Plans | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||||||||||||||
Employee Retirement Plans | ' | |||||||||||||||||||||||
Defined Benefit Pension and Other Postretirement Plans. In the U.S., we currently sponsor one defined benefit pension plan for employees hired prior to January 1, 2009, of UGI, UGI Utilities, PNG, CPG and certain of UGI’s other domestic wholly owned subsidiaries (“U.S. Pension Plan”). | ||||||||||||||||||||||||
We also provide postretirement health care benefits to certain retirees and active employees and postretirement life insurance benefits to nearly all domestic active and retired employees. In addition, Antargaz employees are covered by certain defined benefit pension and postretirement plans. Although the disclosures in the tables below include amounts related to the Antargaz plans, such amounts are not material. | ||||||||||||||||||||||||
The following table provides a reconciliation of the projected benefit obligations (“PBOs”) of the U.S. Pension Plan and the Antargaz pension plans, the accumulated benefit obligations (“ABOs”) of our other postretirement benefit plans, plan assets, and the funded status of pension and other postretirement plans as of September 30, 2013 and 2012. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect estimated future compensation. | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||
Benefit obligations — beginning of year | $ | 573.4 | $ | 462.9 | $ | 24.7 | $ | 20.5 | ||||||||||||||||
Service cost | 11.3 | 9.3 | 0.6 | 0.4 | ||||||||||||||||||||
Interest cost | 23.8 | 25.1 | 0.9 | 1.1 | ||||||||||||||||||||
Actuarial (gain) loss | (72.7 | ) | 82.4 | (3.6 | ) | 3.2 | ||||||||||||||||||
Plan amendments | 1 | 0.1 | (1.8 | ) | 1 | |||||||||||||||||||
Acquisitions | — | 14.6 | — | — | ||||||||||||||||||||
Foreign currency | 1.5 | (0.7 | ) | 0.2 | (0.1 | ) | ||||||||||||||||||
Benefits paid | (21.8 | ) | (20.3 | ) | (1.3 | ) | (1.4 | ) | ||||||||||||||||
Benefit obligations — end of year | $ | 516.5 | $ | 573.4 | $ | 19.7 | $ | 24.7 | ||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of plan assets — beginning of year | $ | 369.9 | $ | 290 | $ | 11.2 | $ | 9.8 | ||||||||||||||||
Actual gain on plan assets | 42.2 | 51.2 | 1.1 | 1.7 | ||||||||||||||||||||
Foreign currency | 0.8 | (0.5 | ) | — | — | |||||||||||||||||||
Employer contributions | 24.2 | 32.2 | 0.7 | 1.1 | ||||||||||||||||||||
Acquisitions | — | 17.3 | — | — | ||||||||||||||||||||
Benefits paid | (21.8 | ) | (20.3 | ) | (1.3 | ) | (1.4 | ) | ||||||||||||||||
Fair value of plan assets — end of year | $ | 415.3 | $ | 369.9 | $ | 11.7 | $ | 11.2 | ||||||||||||||||
Funded status of the plans — end of year | $ | (101.2 | ) | $ | (203.5 | ) | $ | (8.0 | ) | $ | (13.5 | ) | ||||||||||||
Assets (liabilities) recorded in the balance sheet: | ||||||||||||||||||||||||
Assets in excess of liabilities — included in other noncurrent assets | $ | — | $ | — | $ | 3.2 | $ | — | ||||||||||||||||
Unfunded liabilities — included in other current liabilities | (17.9 | ) | (15.8 | ) | (0.4 | ) | (0.6 | ) | ||||||||||||||||
Unfunded liabilities — included in other noncurrent liabilities | (83.3 | ) | (187.7 | ) | (10.8 | ) | (12.9 | ) | ||||||||||||||||
Net amount recognized | $ | (101.2 | ) | $ | (203.5 | ) | $ | (8.0 | ) | $ | (13.5 | ) | ||||||||||||
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax): | ||||||||||||||||||||||||
Prior service credit | $ | (0.1 | ) | $ | (0.1 | ) | $ | (0.1 | ) | $ | (0.1 | ) | ||||||||||||
Net actuarial loss (gain) | 16.7 | 25.3 | (0.4 | ) | 0.4 | |||||||||||||||||||
Total | $ | 16.6 | $ | 25.2 | $ | (0.5 | ) | $ | 0.3 | |||||||||||||||
Amounts recorded in regulatory assets and liabilities (pre-tax): | ||||||||||||||||||||||||
Prior service cost (credit) | $ | 2.2 | $ | 1.5 | $ | (4.3 | ) | $ | (2.8 | ) | ||||||||||||||
Net actuarial loss | 91.3 | 184.5 | 3.6 | 5.8 | ||||||||||||||||||||
Total | $ | 93.5 | $ | 186 | $ | (0.7 | ) | $ | 3 | |||||||||||||||
In Fiscal 2014, we estimate that we will amortize approximately $7.8 of net actuarial losses, primarily associated with the U.S. Pension Plan, and $0.2 of prior service credits from UGI stockholders’ equity and regulatory assets into retiree benefit cost. | ||||||||||||||||||||||||
Actuarial assumptions for our domestic plans are described below. Assumptions for the Antargaz plans are based upon market conditions in France. The discount rate assumption was determined by selecting a hypothetical portfolio of high quality corporate bonds appropriate to provide for the projected benefit payments of the plans. The discount rate was then developed as the single rate that equates the market value of the bonds purchased to the discounted value of the plans’ benefit payments. The expected rate of return on assets assumption is based on the current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below). | ||||||||||||||||||||||||
Pension Plan | Other Postretirement Benefits | |||||||||||||||||||||||
2013 | 2012 | 2011 (a) | 2013 | 2012 | 2011 | |||||||||||||||||||
Weighted-average assumptions: | ||||||||||||||||||||||||
Discount rate - benefit obligations | 5.2 | % | 4.2 | % | 5.3 | % | 5.10% - 5.40% | 4.10% - 4.30% | 5.3 | % | ||||||||||||||
Discount rate - benefit cost | 4.2 | % | 5.3 | % | 5 | % | 4.10% - 4.30% | 5.3 | % | 5 | % | |||||||||||||
Expected return on plan assets | 7.75 | % | 7.75 | % | 8 | % | 5 | % | 5.2 | % | 5.5 | % | ||||||||||||
Rate of increase in salary levels | 3.25 | % | 3.25 | % | 3.5 | % | 3.25 | % | 3.25 | % | 3.5 | % | ||||||||||||
______________ | ||||||||||||||||||||||||
(a) | Effective December 31, 2010, we merged our then-existing two U.S. defined benefit pension plans (“U.S. Pension Plans Merger”) to form the U.S. Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the U.S. Pension Plans Merger) and 5.5% for the remainder of Fiscal 2011. | |||||||||||||||||||||||
The ABOs for the U.S. Pension Plan were $451.3 and $496.4 as of September 30, 2013 and 2012, respectively. | ||||||||||||||||||||||||
Net periodic pension expense and other postretirement benefit cost includes the following components: | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
Service cost | $ | 11.3 | $ | 9.3 | $ | 8.8 | $ | 0.6 | $ | 0.4 | $ | 0.4 | ||||||||||||
Interest cost | 23.8 | 25.1 | 24.1 | 0.9 | 1.1 | 1.1 | ||||||||||||||||||
Expected return on assets | (27.8 | ) | (26.2 | ) | (25.8 | ) | (0.5 | ) | (0.5 | ) | (0.5 | ) | ||||||||||||
Curtailment gain | — | — | — | — | — | (3.2 | ) | |||||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service cost (benefit) | 0.3 | 0.2 | 0.2 | (0.3 | ) | (0.3 | ) | (0.7 | ) | |||||||||||||||
Actuarial loss | 15.1 | 8.4 | 7.5 | 0.4 | 0.3 | 0.4 | ||||||||||||||||||
Net benefit cost (income) | 22.7 | 16.8 | 14.8 | 1.1 | 1 | (2.5 | ) | |||||||||||||||||
Change in associated regulatory liabilities | — | — | — | 3.3 | 3.2 | 3.1 | ||||||||||||||||||
Net benefit cost after change in regulatory liabilities | $ | 22.7 | $ | 16.8 | $ | 14.8 | $ | 4.4 | $ | 4.2 | $ | 0.6 | ||||||||||||
U.S. Pension Plan’s assets are held in trust. It is our general policy to fund amounts for U.S. Pension Plan benefits equal to at least the minimum required contribution set forth in applicable employee benefit laws. From time to time we may, at our discretion, contribute additional amounts. During Fiscal 2013, Fiscal 2012 and Fiscal 2011, we made cash contributions to the U.S. Pension Plan of $22.4, $31.2 and $18.7 respectively. We believe that in Fiscal 2014 we will be required to make contributions to the U.S. Pension Plan totaling approximately $18. | ||||||||||||||||||||||||
UGI Utilities has established a Voluntary Employees’ Beneficiary Association (“VEBA”) trust to pay retiree health care and life insurance benefits by depositing into the VEBA the annual amount of postretirement benefits costs determined under GAAP. The difference between such amounts and amounts included in UGI Gas’ and Electric Utility’s rates is deferred for future recovery from, or refund to, ratepayers. The required contributions to the VEBA during Fiscal 2014 are not expected to be material. | ||||||||||||||||||||||||
Expected payments for pension benefits and for other postretirement welfare benefits are as follows: | ||||||||||||||||||||||||
Pension | Other | |||||||||||||||||||||||
Benefits | Postretirement | |||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
Fiscal 2014 | $ | 24.6 | $ | 1.4 | ||||||||||||||||||||
Fiscal 2015 | 24.4 | 1.2 | ||||||||||||||||||||||
Fiscal 2016 | 26.1 | 1.2 | ||||||||||||||||||||||
Fiscal 2017 | 28.8 | 1.1 | ||||||||||||||||||||||
Fiscal 2018 | 30.4 | 1.1 | ||||||||||||||||||||||
Fiscal 2019 - 2023 | 164.3 | 5.3 | ||||||||||||||||||||||
The assumed domestic health care cost trend rates for Fiscal 2013 are 7.0% during Fiscal 2013, decreasing to 5.0% in Fiscal 2017. The assumed domestic health care cost trend rates as of September 30, 2013, are 7.5% decreasing to 5.0% in Fiscal 2019. A one percentage point change in the assumed health care cost trend rate would not have a material impact on the Fiscal 2012 other postretirement benefit cost or September 30, 2013, other postretirement benefit ABO. | ||||||||||||||||||||||||
We also sponsor unfunded and non-qualified supplemental executive retirement plans (“Supplemental Defined Benefit Plans”). At September 30, 2013 and 2012, the PBOs of these plans were $33.9 and $29.5, respectively. We recorded pre-tax costs for these plans of $3.0 in Fiscal 2013, $3.0 in Fiscal 2012 and $3.0 in Fiscal 2011. These costs are not included in the tables above. Amounts recorded in UGI’s stockholders’ equity for these plans include pre-tax losses of $9.4 and $11.0 at September 30, 2013 and 2012, respectively, principally representing unrecognized actuarial losses. We expect to amortize approximately $0.6 of such pre-tax actuarial losses into retiree benefit cost in Fiscal 2014. During Fiscal 2013, the Company made payments with respect to the Supplemental Defined Benefit Plans totaling $21.6, including $21.0 to fund self-directed grantor trusts established by the Company for participants who chose to defer their Supplemental Defined Benefit Plan payment upon retirement. The total fair value of these trust assets, which are included in other assets on the Consolidated Balance Sheets, totaled $23.7 million and $2.0 million at September 30, 2013 and 2012, respectively. | ||||||||||||||||||||||||
U.S. Pension Plan and VEBA Assets. The assets of the U.S. Pension Plan and the VEBA are held in trust. The investment policies and asset allocation strategies for the assets in these trusts are determined by an investment committee comprising officers of UGI and UGI Utilities. The overall investment objective of the U.S. Pension Plan and the VEBA is to achieve the best long-term rates of return within prudent and reasonable levels of risk. To achieve the stated objective, investments are made principally in publicly-traded diversified equity and fixed income mutual funds and UGI Common Stock. | ||||||||||||||||||||||||
The targets, target ranges and actual allocations for the U.S. Pension Plan and VEBA trust assets at September 30 are as follows: | ||||||||||||||||||||||||
U.S. Pension Plan | ||||||||||||||||||||||||
Actual | Target | Permitted | ||||||||||||||||||||||
Asset | Range | |||||||||||||||||||||||
2013 | 2012 | Allocation | ||||||||||||||||||||||
Equity investments: | ||||||||||||||||||||||||
Domestic | 57.5 | % | 53.5 | % | 52.5 | % | 40.0% - 65.0% | |||||||||||||||||
International | 11.1 | % | 10.5 | % | 12.5 | % | 7.5% - 17.5% | |||||||||||||||||
Total | 68.6 | % | 64 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 31.4 | % | 36 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
VEBA | ||||||||||||||||||||||||
Actual | Target | Permitted | ||||||||||||||||||||||
Asset | Range | |||||||||||||||||||||||
2013 | 2012 | Allocation | ||||||||||||||||||||||
Domestic equity investments | 65.6 | % | 68.5 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 34.4 | % | 31.5 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
Domestic equity investments include investments in large-cap mutual funds indexed to the S&P 500 and actively managed mid- and small-cap mutual funds. Investments in international equity mutual funds seek to track performance of companies primarily in developed markets. The fixed income investments comprise investments designed to match the performance and duration of the Barclays U.S. Aggregate Index. According to statute, the aggregate holdings of all qualifying employer securities may not exceed 10% of the fair value of trust assets at the time of purchase. UGI Common Stock represented 8.2% and 7.5% of U.S. Pension Plan assets at September 30, 2013 and 2012, respectively. | ||||||||||||||||||||||||
GAAP establishes a hierarchy that prioritizes fair value measurements based upon the inputs and valuation techniques used to measure fair value. This fair value hierarchy groups assets into three levels, as described in Note 2. We maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value. The fair values of U.S. Pension Plan and VEBA trust assets are derived from quoted market prices as substantially all of these instruments have active markets. Cash equivalents are valued at the fund’s unit net asset value as reported by the trustee. | ||||||||||||||||||||||||
The fair values of the U.S. Pension Plan and VEBA trust assets at September 30, 2013 and 2012, by asset class are as follows: | ||||||||||||||||||||||||
U.S. Pension Plan | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Domestic equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 141.8 | $ | — | $ | — | $ | 141.8 | ||||||||||||||||
Small and midcap equity mutual funds | 54.5 | — | — | 54.5 | ||||||||||||||||||||
UGI Corporation Common Stock | 32.6 | — | — | 32.6 | ||||||||||||||||||||
Total domestic equity investments | 228.9 | — | — | 228.9 | ||||||||||||||||||||
International index equity mutual funds | 44.4 | — | — | 44.4 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 120.9 | — | — | 120.9 | ||||||||||||||||||||
Cash equivalents | — | 4 | — | 4 | ||||||||||||||||||||
Total fixed income investments | 120.9 | 4 | — | 124.9 | ||||||||||||||||||||
Total | $ | 394.2 | $ | 4 | $ | — | $ | 398.2 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
Domestic equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 118.9 | $ | — | $ | — | $ | 118.9 | ||||||||||||||||
Small and midcap equity mutual funds | 42.9 | — | — | 42.9 | ||||||||||||||||||||
UGI Corporation Common Stock | 26.4 | — | — | 26.4 | ||||||||||||||||||||
Total domestic equity investments | 188.2 | — | — | 188.2 | ||||||||||||||||||||
International index equity mutual funds | 36.9 | — | — | 36.9 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 123.3 | — | — | 123.3 | ||||||||||||||||||||
Cash equivalents | — | 3.1 | — | 3.1 | ||||||||||||||||||||
Total fixed income investments | 123.3 | 3.1 | — | 126.4 | ||||||||||||||||||||
Total | $ | 348.4 | $ | 3.1 | $ | — | $ | 351.5 | ||||||||||||||||
VEBA | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7.7 | $ | — | $ | — | $ | 7.7 | ||||||||||||||||
Bond index mutual fund | 3.8 | — | — | 3.8 | ||||||||||||||||||||
Cash equivalents | — | 0.2 | — | 0.2 | ||||||||||||||||||||
Total | $ | 11.5 | $ | 0.2 | $ | — | $ | 11.7 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7.7 | $ | — | $ | — | $ | 7.7 | ||||||||||||||||
Bond index mutual fund | 3.4 | — | — | 3.4 | ||||||||||||||||||||
Cash equivalents | — | 0.1 | — | 0.1 | ||||||||||||||||||||
Total | $ | 11.1 | $ | 0.1 | $ | — | $ | 11.2 | ||||||||||||||||
The expected long-term rates of return on U.S. Pension Plan and VEBA trust assets have been developed using a best estimate of expected returns, volatilities and correlations for each asset class. The estimates are based on historical capital market performance data and future expectations provided by independent consultants. Future expectations are determined by using simulations that provide a wide range of scenarios of future market performance. The market conditions in these simulations consider the long-term relationships between equities and fixed income as well as current market conditions at the start of the simulation. The expected rate begins with a risk-free rate of return with other factors being added such as inflation, duration, credit spreads and equity risk premiums. The rates of return derived from this process are applied to our target asset allocation to develop a reasonable return assumption. | ||||||||||||||||||||||||
Defined Contribution Plans. We sponsor 401(k) savings plans for eligible employees of UGI and certain of UGI’s domestic subsidiaries. Generally, participants in these plans may contribute a portion of their compensation on either a before-tax basis, or on both a before-tax and after-tax basis. These plans also provide for employer matching contributions at various rates. The cost of benefits under the savings plans totaled $14.0 in Fiscal 2013, $13.7 in Fiscal 2012 and $10.4 in Fiscal 2011. The Company also sponsors certain nonqualified supplemental defined contribution executive retirement plans. These plans generally provide supplemental benefits to certain executives that would otherwise be provided under retirement plans but are prohibited due to limitations imposed by the Internal Revenue Code. Costs associated with these plans were not material in Fiscal 2013, Fiscal 2012 or Fiscal 2011. |
Utility_Regulatory_Assets_and_
Utility Regulatory Assets and Liabilities and Regulatory Matters | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Regulated Operations [Abstract] | ' | |||||||
Utility Regulatory Assets and Liabilities and Regulatory Matters | ' | |||||||
The following regulatory assets and liabilities associated with Utilities are included in our accompanying balance sheets at September 30: | ||||||||
2013 | 2012 | |||||||
Regulatory assets: | ||||||||
Income taxes recoverable | $ | 106.1 | $ | 103.2 | ||||
Underfunded pension and postretirement plans | 94.5 | 188.2 | ||||||
Environmental costs | 17.1 | 16.8 | ||||||
Deferred fuel and power costs | 8.3 | 11.6 | ||||||
Removal costs, net | 13.3 | 12.7 | ||||||
Other | 5.6 | 5.9 | ||||||
Total regulatory assets | $ | 244.9 | $ | 338.4 | ||||
Regulatory liabilities: | ||||||||
Postretirement benefits | $ | 16.5 | $ | 13.1 | ||||
Environmental overcollections | 2.6 | 2.9 | ||||||
Deferred fuel and power refunds | 8.3 | 4.4 | ||||||
State tax benefits — distribution system repairs | 8.4 | 7.4 | ||||||
Other | 1.5 | 0.5 | ||||||
Total regulatory liabilities | $ | 37.3 | $ | 28.3 | ||||
Income taxes recoverable. This regulatory asset is the result of recording deferred tax liabilities pertaining to temporary tax differences principally as a result of the pass through to ratepayers of accelerated tax depreciation for state income tax purposes, and the flow through of accelerated tax depreciation for federal income tax purposes for certain years prior to 1981. These deferred taxes have been reduced by deferred tax assets pertaining to utility deferred investment tax credits. Utilities has recorded regulatory income tax assets related to these deferred tax liabilities representing future revenues recoverable through the ratemaking process over the average remaining depreciable lives of the associated property ranging from 1 to approximately 50 years. | ||||||||
Underfunded pension and other postretirement plans. This regulatory asset represents the portion of prior service cost and net actuarial losses associated with pension and other postretirement benefits which are probable of being recovered through future rates based upon established regulatory practices. These regulatory assets are adjusted annually or more frequently under certain circumstances when the funded status of the plans is recorded in accordance with GAAP. These costs are amortized over the average remaining future service lives of plan participants. | ||||||||
Environmental costs. Environmental costs represent amounts actually spent by UGI Gas to clean up sites in Pennsylvania as well as the portion of estimated probable future environmental remediation and investigation costs principally at manufactured gas plant (“MGP”) sites that CPG and PNG expect to incur in conjunction with remediation consent orders and agreements with the Pennsylvania Department of Environmental Protection (see Note 16). UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of prudently incurred remediation costs at Pennsylvania sites. PNG and CPG are currently recovering and expect to continue to recover environmental remediation and investigation costs in base rate revenues. At September 30, 2013, the period over which PNG and CPG expect to recover these costs will depend upon future remediation activity. | ||||||||
Deferred fuel and power — costs and refunds. Gas Utility’s and Electric Utility’s tariffs contain clauses which permit recovery of all prudently incurred purchased gas and power costs through the application of purchased gas cost (“PGC”) rates in the case of Gas Utility and delivery service (“DS”) tariffs in the case of Electric Utility. The clauses provide for periodic adjustments to PGC and DS rates for differences between the total amount of purchased gas and electric generation supply costs collected from customers and recoverable costs incurred. Net undercollected costs are classified as a regulatory asset and net overcollections are classified as a regulatory liability. | ||||||||
Gas Utility uses derivative financial instruments to reduce volatility in the cost of gas it purchases for firm- residential, commercial and industrial (“retail core-market”) customers. Realized and unrealized gains or losses on natural gas derivative financial instruments are included in deferred fuel costs or refunds. Net unrealized (losses) gains on such contracts at September 30, 2013 and 2012 were $(1.7) and $5.3, respectively. | ||||||||
Electric Utility enters into forward electricity purchase contracts to meet a substantial portion of its electricity supply needs. Because these contracts currently do not qualify for the normal purchases and normal sales exception under GAAP related to derivative financial instruments, these electricity supply contracts are recognized on the balance sheet at fair value with an associated adjustment to regulatory assets or liabilities in accordance with GAAP related to rate-regulated entities. At September 30, 2013 and 2012, the fair values of Electric Utility’s electricity supply contracts were losses of $4.8 and $9.2, respectively, which amounts are reflected in current derivative financial instruments and other noncurrent liabilities on the Consolidated Balance Sheets with equal and offsetting amounts reflected in deferred fuel and power costs in the table above. | ||||||||
In order to reduce volatility associated with a substantial portion of its electric transmission congestion costs, Electric Utility obtains financial transmission rights (“FTRs”). FTRs are derivative financial instruments that entitle the holder to receive compensation for electricity transmission congestion charges when there is insufficient electricity transmission capacity on the electric transmission grid. Because Electric Utility is entitled to fully recover its DS costs, realized and unrealized gains or losses on FTRs are included in deferred fuel and power costs or deferred fuel and power refunds. At September 30, 2013 and 2012, such gains or losses were not material. | ||||||||
Removal costs, net. This regulatory asset represents costs incurred, net of salvage, associated with the retirement of depreciable utility plant. At September 30, 2013, UGI Utilities expects to recover these costs over periods of 1 to 5 years. | ||||||||
Postretirement benefits. Gas Utility and Electric Utility are recovering ongoing postretirement benefit costs at amounts permitted by the PUC in prior base rate proceedings. With respect to UGI Gas and Electric Utility, the difference between the amounts recovered through rates and the actual costs incurred in accordance with accounting for postretirement benefits are being deferred for future refund to or recovery from ratepayers. Such amounts are reflected in regulatory liabilities in the table above. In addition, this regulatory liability includes the portion of prior service credits and net actuarial gains associated with certain other postretirement benefit plans. | ||||||||
Environmental overcollections. This regulatory liability represents the difference between amounts recovered in rates and actual costs incurred (net of insurance proceeds) associated with the terms of a consent order agreement between CPG and the Pennsylvania Department of Environmental Protection to remediate certain gas plant sites. | ||||||||
State income tax benefits — distribution system repairs. This regulatory liability represents Pennsylvania state income tax benefits, net of federal income tax expense, resulting from the deduction for income tax purposes of repair and maintenance costs associated with Gas Utility or Electric Utility assets which are capitalized for regulatory and GAAP reporting. The tax benefits associated with these repair and maintenance deductions will be reflected as a reduction to income tax expense over the remaining tax lives of the related book assets. | ||||||||
Other. Other regulatory assets comprise a number of items including, among others, deferred postretirement costs, deferred asset retirement costs, deferred rate case expenses, customer choice implementation costs and deferred software development costs. At September 30, 2013, UGI Utilities expects to recover these costs over periods of approximately 1 to 5 years. | ||||||||
UGI Utilities’ regulatory liabilities relating to postretirement benefits, environmental overcollections and state tax benefits — distribution system repairs are included in other noncurrent liabilities on the Consolidated Balance Sheets. UGI Utilities does not recover a rate of return on its regulatory assets. | ||||||||
Other Regulatory Matters | ||||||||
Allentown, Pennsylvania Natural Gas Incident. On February 19, 2013, the PUC entered a final order (the “Final Order”) settling all regulatory compliance issues pertaining to a natural gas explosion on February 9, 2011, in Allentown, PA. The Final Order requires UGI Utilities to (i) pay a civil penalty in the amount of $0.5; (ii) conduct a pilot new technology leak detection program in Allentown; and (iii) accept new reporting requirements governing its agreed upon 14-year cast iron and 30-year bare steel pipeline replacement program and distribution integrity management program. The Final Order makes no findings that UGI Utilities has violated any regulation or operating procedure. The Company does not believe that the cost of complying with the requirements of the Final Order will have a material impact on UGI Utilities' consolidated financial position, results of operations or cash flows. | ||||||||
CPG Base Rate Filing. On August 11, 2011, the PUC approved a settlement agreement with CPG that resulted in an increase in annual base rate revenues of $8.0 as well as $0.9 in revenues per year to fund system improvements and operations necessary to maintain safe and reliable natural gas service and fund new programs that would provide rebates and other incentives for customers to install new high-efficiency equipment (collectively, “Energy and Efficiency Conservation Program”). The increase became effective August 30, 2011. During Fiscal 2012, the PUC reversed its earlier decision related to the $0.9 increase in revenues associated with the Energy and Efficiency Conservation Program and required CPG to refund revenue it had collected for that program. | ||||||||
Transfers of Assets. On February 1, 2012, CPG filed an application with the PUC for review and approval of the transfer of an 11-mile natural gas pipeline, related facilities and right of way located in Delmar Township, Pennsylvania (“TL-96 line”) to Energy Services. The PUC approved the transfer and, in April 2013, the TL-96 line was dividended to UGI and subsequently contributed to Energy Services. The net book value of the TL-96 line is approximately $2.6. | ||||||||
On October 21, 2010, the Federal Energy Regulatory Commission (“FERC”) approved and later affirmed CPG’s application to abandon a storage service and approved the transfer of its Tioga, Meeker and Wharton natural gas storage facilities, along with related assets, to UGI Storage Company, a subsidiary of Energy Services. The PUC approved the transfer subject to, among other things, a reduction in base rates and CPG’s agreement to charge PGC customers, for a period of three years, no more for storage services from the transferred assets than they would have paid before the transfer, to the extent used. On April 1, 2011, the storage facilities were dividended to UGI and subsequently contributed to UGI Storage Company. The net book value of the storage facility assets was $10.9. Compliance with the provisions of the PUC Order approving the transfer of the storage assets did not have a material impact on the results of operations of Gas Utility. Concurrent with the April 1, 2011 transfer, CPG entered into a one-year firm storage service agreement with UGI Storage Company. | ||||||||
On December 1, 2010, PNG filed an application with the PUC for expedited review and approval of the transfer of a 9-mile natural gas pipeline, related facilities, and right of way located in Mehoopany, Pennsylvania (the “Auburn Line”) to Energy Services. The PUC approved the transfer and in September 2011 the Auburn Line was dividended to UGI and subsequently contributed to Energy Services. The net book value of the Auburn Line was $1.1. |
Inventories
Inventories | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventories comprise the following at September 30: | ||||||||
2013 | 2012 | |||||||
Non-utility LPG and natural gas | $ | 230 | $ | 237.9 | ||||
Gas Utility natural gas | 78.9 | 57.7 | ||||||
Materials, supplies and other | 56.6 | 58.5 | ||||||
Total inventories | $ | 365.5 | $ | 354.1 | ||||
At September 30, 2013, UGI Utilities is a party to three principal storage contract administrative agreements (“SCAAs”), one of which expired in October 2013 and two of which expire in October 2015. Pursuant to SCAAs, UGI Utilities has, among other things, released certain storage and transportation contracts for the terms of the SCAAs. UGI Utilities also transferred certain associated storage inventories upon commencement of the SCAAs, will receive a transfer of storage inventories at the end of the SCAAs, and makes payments associated with refilling storage inventories during the terms of the SCAAs. The historical cost of natural gas storage inventories released under the SCAAs, which represents a portion of Gas Utility’s total natural gas storage inventories, and any exchange receivable (representing amounts of natural gas inventories used by the other parties to the agreement but not yet replenished), are included in the caption “Gas Utility natural gas” in the table above. | ||||||||
As of September 30, 2013, UGI Utilities’ principal SCAAs are with Energy Services. The carrying values of gas storage inventories released under the SCAAs to non-affiliates at September 30, 2013 and 2012, comprising 0.6 billion cubic feet (“bcf”) and 3.8 bcf of natural gas was $2.4 and $11.4, respectively. Effective November 1, 2013, UGI Utilities entered into a new SCAA with Energy Services having a term of one year and another with a third party having a term of three years. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property, plant and equipment comprise the following at September 30: | ||||||||
2013 | 2012 | |||||||
Utilities: | ||||||||
Distribution | $ | 2,162.60 | $ | 2,047.80 | ||||
Transmission | 86.6 | 85.4 | ||||||
General and other, including work in process | 178.6 | 162.5 | ||||||
Total Utilities | 2,427.80 | 2,295.70 | ||||||
Non-utility: | ||||||||
Land | 178.4 | 175 | ||||||
Buildings and improvements | 308.1 | 282 | ||||||
Transportation equipment | 273.8 | 246.5 | ||||||
Equipment, primarily cylinders and tanks | 3,184.40 | 3,043.40 | ||||||
Electric generation | 264.8 | 254.3 | ||||||
Other, including work in process | 403.2 | 222.7 | ||||||
Total non-utility | 4,612.70 | 4,223.90 | ||||||
Total property, plant and equipment | $ | 7,040.50 | $ | 6,519.60 | ||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||||||
Goodwill and intangible assets comprise the following at September 30: | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Goodwill (not subject to amortization) | $ | 2,873.70 | $ | 2,818.30 | ||||||||||||||||||||||||
Intangible assets: | ||||||||||||||||||||||||||||
Customer relationships, noncompete agreements and other | $ | 704.8 | $ | 691.9 | ||||||||||||||||||||||||
Trademarks and tradenames (not subject to amortization) | 130.2 | 137.2 | ||||||||||||||||||||||||||
Gross carrying amount | 835 | 829.1 | ||||||||||||||||||||||||||
Accumulated amortization | (227.1 | ) | (170.9 | ) | ||||||||||||||||||||||||
Intangible assets, net | $ | 607.9 | $ | 658.2 | ||||||||||||||||||||||||
Changes in the carrying amount of goodwill are as follows: | ||||||||||||||||||||||||||||
UGI International | ||||||||||||||||||||||||||||
AmeriGas | Gas | Energy Services | Antargaz | Flaga & Other | Corporate & | Total | ||||||||||||||||||||||
Propane | Utility | Other | ||||||||||||||||||||||||||
Balance September 30, 2011 | $ | 696.3 | $ | 182.1 | $ | 2.8 | $ | 591.8 | $ | 82.2 | $ | 7 | $ | 1,562.20 | ||||||||||||||
Acquisitions | 1,223.10 | — | — | 46.4 | 13.7 | — | 1,283.20 | |||||||||||||||||||||
Purchase accounting adjustments | (0.2 | ) | — | — | — | — | — | (0.2 | ) | |||||||||||||||||||
Foreign currency translation | — | — | — | (26.2 | ) | (0.7 | ) | — | (26.9 | ) | ||||||||||||||||||
Balance September 30, 2012 | 1,919.20 | 182.1 | 2.8 | 612 | 95.2 | 7 | 2,818.30 | |||||||||||||||||||||
Acquisitions | 12.5 | — | — | — | — | — | 12.5 | |||||||||||||||||||||
Correcting adjustment | 9.3 | — | — | — | — | — | 9.3 | |||||||||||||||||||||
Foreign currency translation | — | — | — | 31.7 | 1.9 | — | 33.6 | |||||||||||||||||||||
Balance September 30, 2013 | $ | 1,941.00 | $ | 182.1 | $ | 2.8 | $ | 643.7 | $ | 97.1 | $ | 7 | $ | 2,873.70 | ||||||||||||||
The decrease in trademarks and tradenames and the correcting adjustment to goodwill during the year ended September 30, 2013 primarily reflects a correcting adjustment associated with the Heritage Acquisition. We amortize customer relationships and noncompete agreement intangibles over their estimated periods of benefit which do not exceed 15 years. Amortization expense of intangible assets was $52.8 in Fiscal 2013, $44.5 in Fiscal 2012 and $20.4 in Fiscal 2011. Estimated amortization expense of intangible assets during the next five fiscal years is as follows: Fiscal 2014 — $51.2; Fiscal 2015 — $48.4; Fiscal 2016 — $42.4; Fiscal 2017 — $35.9; Fiscal 2018 — $34.5. There were no accumulated impairment losses at September 30, 2013. |
Series_Preferred_Stock
Series Preferred Stock | 12 Months Ended |
Sep. 30, 2013 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' |
Series Preferred Stock | ' |
UGI has 10,000,000 shares of UGI Series Preferred Stock authorized for issuance, including both series subject to and series not subject to mandatory redemption. We had no shares of UGI Series Preferred Stock outstanding at September 30, 2013 or 2012. | |
UGI Utilities has 2,000,000 shares of UGI Utilities Series Preferred Stock authorized for issuance, including both series subject to and series not subject to mandatory redemption. At September 30, 2013 and 2012, there were no shares of UGI Utilities Series Preferred Stock outstanding. |
Common_Stock_and_Equity_Based_
Common Stock and Equity Based Compensation | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||
Common Stock and Equity-Based Compensation | ' | ||||||||||||||||||||
UGI Common Stock share activity for Fiscal 2011, Fiscal 2012 and Fiscal 2013 follows: | |||||||||||||||||||||
Issued | Treasury | Outstanding | |||||||||||||||||||
Balance, September 30, 2010 | 115,400,294 | (5,026,707 | ) | 110,373,587 | |||||||||||||||||
Issued: | |||||||||||||||||||||
Employee and director plans | 106,800 | 1,263,065 | 1,369,865 | ||||||||||||||||||
Dividend reinvestment plan | — | 92,570 | 92,570 | ||||||||||||||||||
Balance, September 30, 2011 | 115,507,094 | (3,671,072 | ) | 111,836,022 | |||||||||||||||||
Issued: | |||||||||||||||||||||
Employee and director plans | 117,500 | 824,925 | 942,425 | ||||||||||||||||||
Dividend reinvestment plan | — | 104,994 | 104,994 | ||||||||||||||||||
Shares reacquired - employee and director plans | — | (263,020 | ) | (263,020 | ) | ||||||||||||||||
Balance, September 30, 2012 | 115,624,594 | (3,004,173 | ) | 112,620,421 | |||||||||||||||||
Issued: | |||||||||||||||||||||
Employee and director plans | 159,200 | 2,622,338 | 2,781,538 | ||||||||||||||||||
Dividend reinvestment plan | — | 62,169 | 62,169 | ||||||||||||||||||
Shares reacquired - employee and director plans | — | (1,035,270 | ) | (1,035,270 | ) | ||||||||||||||||
Balance, September 30, 2013 | 115,783,794 | (1,354,936 | ) | 114,428,858 | |||||||||||||||||
As a result of the January 2012 issuance of 29,567,362 AmeriGas Partners Common Units to ETP in conjunction with the Heritage Acquisition and related General Partner Common Unit transactions (see Note 5), and the March 2012 issuance of 7,000,000 AmeriGas Partners Common Units pursuant to AmeriGas Partners’ public offering (see Note 15), the Company recorded a $196.3 increase in UGI Corporation stockholders’ equity (which amount is net of deferred income taxes) and an associated $321.4 pre-tax decrease in noncontrolling interests equity. | |||||||||||||||||||||
Equity-Based Compensation | |||||||||||||||||||||
The Company grants equity-based awards to employees and non-employee directors comprising UGI stock options, grants of UGI stock-based equity instruments and grants of AmeriGas Partners Common Unit-based equity instruments as further described below. We recognized total pre-tax equity-based compensation expense of $17.6 ($11.4 after-tax), $14.5 ($8.7 after-tax) and $15.6 ($10.3 after-tax) in Fiscal 2013, Fiscal 2012 and Fiscal 2011, respectively. | |||||||||||||||||||||
UGI Equity-Based Compensation Plans and Awards. On January 24, 2013, the Company’s shareholders approved the UGI Corporation 2013 Omnibus Incentive Compensation Plan (the “2013 OICP”). The 2013 OICP succeeds the UGI Corporation 2004 Omnibus Equity Compensation Plan Amended and Restated as of December 5, 2006 (the “2004 OECP”) for awards granted on or after January 24, 2013. The 2004 OECP will continue in effect but all future grants issued pursuant to it will be solely in the form of options to acquire Common Stock. Under the 2013 OICP, we may grant options to acquire shares of UGI Common Stock, stock appreciation rights (“SARs”), UGI Units (comprising “Stock Units” and “UGI Performance Units”), other equity-based awards and cash to key employees and non-employee directors. The exercise price for options may not be less than the fair market value on the grant date. Awards granted under the 2013 OICP may vest immediately or ratably over a period of years, and stock options can be exercised no later than ten years from the grant date. In addition, the 2013 OICP provides that awards of UGI Units may also provide for the crediting of dividend equivalents to participants’ accounts. Except in the event of retirement, death or disability, each grant, unless paid, will terminate when the participant ceases to be employed. There are certain change of control and retirement eligibility conditions that, if met, generally result in accelerated vesting or elimination of further service requirements. | |||||||||||||||||||||
Under the 2004 OECP, we could grant options to acquire shares of UGI Common Stock, UGI Units and other equity-based awards to key employees and non-employee directors through January 23, 2013 (except with respect to the granting of stock option awards as previously mentioned). Under the 2004 OECP, the exercise price for stock options could not be less than the fair market value on the grant date. Awards granted under the 2004 OECP could vest immediately or ratably over a period of years, and stock options could be exercised no later than ten years from the date of grant. In addition, the 2004 OECP provided that the awards of UGI Units could include the crediting of dividend equivalents. | |||||||||||||||||||||
Under the 2013 OICP, awards representing up to 14,500,000 shares of UGI Common Stock may be granted. Dividend equivalents on UGI Unit awards to employees will be paid in cash. Dividend equivalents on non-employee director awards are accumulated in additional Stock Units. UGI Unit awards granted to employees and non-employee directors are settled in shares of Common Stock and cash. UGI Unit awards granted to Antargaz employees are settled in shares of Common Stock. With respect to UGI Performance Unit awards, the actual number of shares (or their cash equivalent) ultimately issued, and the actual amount of dividend equivalents paid, is generally dependent upon the achievement of market performance goals and service conditions. It is currently our practice to issue treasury shares to satisfy substantially all option exercises and UGI Unit awards. We may choose to repurchase shares on the market for such purposes during Fiscal 2014. Beginning during Fiscal 2012, options granted under the 2004 OECP, and option awards granted under the 2013 OICP, may be net exercised whereby shares equal to the option price and grantee’s minimum applicable payroll tax withholding are withheld from the number of shares payable (“net exercise”). We record shares withheld under option net exercises as shares reacquired. | |||||||||||||||||||||
UGI Stock Option Awards. Stock option transactions under the 2013 OICP, the 2004 OECP and predecessor plans during Fiscal 2011, Fiscal 2012 and Fiscal 2013 follow: | |||||||||||||||||||||
Shares | Weighted | Total | Weighted | ||||||||||||||||||
Average | Intrinsic | Average | |||||||||||||||||||
Option Price | Value | Contract Term | |||||||||||||||||||
(Years) | |||||||||||||||||||||
Shares under option — September 30, 2010 | 7,557,045 | $ | 23.81 | $ | 36.2 | 6.5 | |||||||||||||||
Granted | 1,443,558 | $ | 31.55 | ||||||||||||||||||
Cancelled | (235,437 | ) | $ | 27.79 | |||||||||||||||||
Exercised | (1,091,987 | ) | $ | 20.95 | $ | 11.4 | |||||||||||||||
Shares under option — September 30, 2011 | 7,673,179 | $ | 25.55 | $ | 15.1 | 6.2 | |||||||||||||||
Granted | 1,508,050 | $ | 29.26 | ||||||||||||||||||
Cancelled | (321,600 | ) | $ | 27.74 | |||||||||||||||||
Exercised | (801,857 | ) | $ | 20.93 | $ | 7.2 | |||||||||||||||
Shares under option — September 30, 2012 | 8,057,772 | $ | 26.62 | $ | 41.4 | 6.1 | |||||||||||||||
Granted | 1,516,900 | $ | 33.57 | ||||||||||||||||||
Cancelled | (89,836 | ) | $ | 30.51 | |||||||||||||||||
Exercised | (2,688,868 | ) | $ | 24.58 | $ | 35.4 | |||||||||||||||
Shares under option — September 30, 2013 | 6,795,968 | $ | 28.92 | $ | 69.6 | 6.8 | |||||||||||||||
Options exercisable — September 30, 2011 | 4,879,784 | $ | 24.15 | ||||||||||||||||||
Options exercisable — September 30, 2012 | 5,317,698 | $ | 25.32 | ||||||||||||||||||
Options exercisable — September 30, 2013 | 3,914,061 | $ | 26.93 | $ | 47.8 | 5.6 | |||||||||||||||
Options not exercisable — September 30, 2013 | 2,881,907 | $ | 31.63 | $ | 21.8 | 8.5 | |||||||||||||||
Cash received from stock option exercises and associated tax benefits were $30.8 and $12.1, $9.4 and $2.3, and $22.9 and $3.8 in Fiscal 2013, Fiscal 2012 and Fiscal 2011, respectively. As of September 30, 2013, there was $5.4 of unrecognized compensation cost associated with unvested stock options that is expected to be recognized over a weighted-average period of 1.9 years. | |||||||||||||||||||||
The following table presents additional information relating to stock options outstanding and exercisable at September 30, 2013: | |||||||||||||||||||||
Range of exercise prices | |||||||||||||||||||||
Under | $25.01 - | $30.01 - | Over | ||||||||||||||||||
$25.00 | $30.00 | $35.00 | $35.00 | ||||||||||||||||||
Options outstanding at September 30, 2013: | |||||||||||||||||||||
Number of options | 1,778,435 | 2,265,255 | 2,559,678 | 192,600 | |||||||||||||||||
Weighted average remaining contractual life (in years) | 5.2 | 6.5 | 8.1 | 9.6 | |||||||||||||||||
Weighted average exercise price | $ | 23.92 | $ | 28.34 | $ | 32.12 | $ | 39.45 | |||||||||||||
Options exercisable at September 30, 2013: | |||||||||||||||||||||
Number of options | 1,718,735 | 1,358,454 | 836,872 | — | |||||||||||||||||
Weighted average exercise price | $ | 23.91 | $ | 27.8 | $ | 31.7 | $ | — | |||||||||||||
UGI Stock Option Fair Value Information. The per share weighted-average fair value of stock options granted under our option plans was $4.93 in Fiscal 2013, $4.31 in Fiscal 2012 and $5.40 in Fiscal 2011. These amounts were determined using a Black-Scholes option pricing model which values options based on the stock price at the grant date, the expected life of the option, the estimated volatility of the stock, expected dividend payments and the risk-free interest rate over the expected life of the option. The expected life of option awards represents the period of time during which option grants are expected to be outstanding and is derived from historical exercise patterns. Expected volatility is based on historical volatility of the price of UGI’s Common Stock. Expected dividend yield is based on historical UGI dividend rates. The risk free interest rate is based on U.S. Treasury bonds with terms comparable to the options in effect on the date of grant. | |||||||||||||||||||||
The assumptions we used for valuing option grants during Fiscal 2013, Fiscal 2012 and Fiscal 2011 are as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected life of option | 5.75 years | 5.75 years | 5.75 years | ||||||||||||||||||
Weighted average volatility | 24.90% | 24.70% | 24.30% | ||||||||||||||||||
Weighted average dividend yield | 3.60% | 3.50% | 3.40% | ||||||||||||||||||
Expected volatility | 24.4% - 24.9% | 24.70% | 23.8% - 24.3% | ||||||||||||||||||
Expected dividend yield | 3.2% - 3.7% | 3.3% - 3.7% | 3.1% - 3.4% | ||||||||||||||||||
Risk free rate | 0.8% - 1.7% | 0.8% - 1.1% | 1.2% - 2.4% | ||||||||||||||||||
UGI Unit Awards. UGI Stock Unit and UGI Performance Unit awards entitle the grantee to shares of UGI Common Stock or cash once the service condition is met and, with respect to UGI Performance Unit awards, subject to market performance conditions. UGI Performance Unit grant recipients are awarded a target number of Performance Units. The number of UGI Performance Units ultimately paid at the end of the performance period (generally three years) may be higher or lower than the target amount, or even zero, based on UGI’s Total Shareholder Return (“TSR”) percentile rank relative to (i) companies in the Standard & Poor’s Utilities Index for grants prior to January 1, 2011 and (ii) the Russell Midcap Utility Index, excluding telecommunication companies, for grants on or after January 1, 2011 (each a respective “UGI comparator group”). For grants issued on or after January 1, 2013, grantees may receive 0% to 200% of the target award granted. For such grants, if UGI’s TSR ranks below the 25th percentile compared to the UGI comparator group, the employee will not be paid. At the 40th percentile, the employee will be paid an award equal to 70% of the target award; at the 50th percentile, 100%; and at the 90th percentile, 200%. For grants issued prior to January 1, 2013, grantees may receive 0% to 200% of the target award granted. For such grants, if UGI’s TSR ranks below the 40th percentile compared to the UGI comparator group, the employee will not be paid. At the 40th percentile, the employee will be paid an award equal to 50% of the target award; at the 50th percentile, 100%; and at the 100th percentile, 200%. The actual amount of the award is interpolated between these percentile rankings. Dividend equivalents are paid in cash only on UGI Performance Units that eventually vest. | |||||||||||||||||||||
The fair value of UGI Stock Units on the grant date is equal to the market price of UGI Stock on the grant date. Under GAAP, UGI Performance Units are equity awards with a market-based condition which, if settled in shares, results in the recognition of compensation cost over the requisite employee service period regardless of whether the market-based condition is satisfied. The fair values of UGI Performance Units are estimated using a Monte Carlo valuation model. The fair value associated with the target award is accounted for as equity and the fair value of the award over the target, as well as all dividend equivalents, is accounted for as a liability. The expected term of the UGI Performance Unit awards is three years based on the performance period. Expected volatility is based on the historical volatility of UGI Common Stock over a three-year period. The risk-free interest rate is based on the yields on U.S. Treasury bonds at the time of grant. Volatility for all companies in the UGI comparator group is based on historical volatility. | |||||||||||||||||||||
The following table summarizes the weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs: | |||||||||||||||||||||
Grants Awarded in Fiscal | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Risk free rate | 0.4 | % | 0.4 | % | 1 | % | |||||||||||||||
Expected life | 3 years | 3 years | 3 years | ||||||||||||||||||
Expected volatility | 21.1 | % | 22.2 | % | 27.6 | % | |||||||||||||||
Dividend yield | 3.3 | % | 3.5 | % | 3.2 | % | |||||||||||||||
The weighted-average grant date fair value of UGI Performance Unit awards was estimated to be $37.97 for Units granted in Fiscal 2013, $27.25 for Units granted in Fiscal 2012 and $35.19 for Units granted in Fiscal 2011. | |||||||||||||||||||||
The following table summarizes UGI Unit award activity for Fiscal 2013: | |||||||||||||||||||||
Total | Vested | Non-Vested | |||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||
UGI | Average | UGI | Average | UGI | Average | ||||||||||||||||
Units | Grant Date | Units | Grant Date | Units | Grant Date | ||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||
(per Unit) | (per Unit) | (per Unit) | |||||||||||||||||||
September 30, 2012 | 885,338 | $ | 24.09 | 580,122 | $ | 21.72 | 305,216 | $ | 28.59 | ||||||||||||
UGI Performance Units: | |||||||||||||||||||||
Granted | 220,575 | $ | 37.97 | 26,818 | $ | 38.13 | 193,757 | $ | 37.94 | ||||||||||||
Forfeited | (9,319 | ) | $ | 33.78 | — | $ | — | (9,319 | ) | $ | 33.78 | ||||||||||
Vested | — | $ | — | 117,703 | $ | 26.69 | (117,703 | ) | $ | 26.69 | |||||||||||
Unit awards paid | (103,759 | ) | $ | 22.22 | (103,759 | ) | $ | 22.22 | — | $ | — | ||||||||||
Performance criteria not met | (70,079 | ) | $ | 22.22 | (70,079 | ) | $ | 22.22 | — | $ | — | ||||||||||
UGI Stock Units: | |||||||||||||||||||||
Granted (a) | 34,025 | $ | 33.05 | 34,025 | $ | 33.05 | — | $ | — | ||||||||||||
Unit awards paid | (36,180 | ) | $ | 36.37 | (36,180 | ) | $ | 36.37 | — | $ | — | ||||||||||
September 30, 2013 | 920,601 | $ | 27.52 | 548,650 | $ | 23.18 | 371,951 | $ | 33.93 | ||||||||||||
(a) | Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in shares. UGI Stock Unit awards granted in Fiscal 2012 and Fiscal 2011 were 42,445 and 61,945, respectively. | ||||||||||||||||||||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, the Company paid UGI Performance Unit and UGI Stock Unit awards in shares and cash as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
UGI Performance Unit awards: | |||||||||||||||||||||
Number of original awards granted | 218,683 | 210,750 | 197,917 | ||||||||||||||||||
Fiscal year granted | 2010 | 2009 | 2008 | ||||||||||||||||||
Payment of awards: | |||||||||||||||||||||
Shares of UGI Common Stock issued | 65,081 | — | 142,494 | ||||||||||||||||||
Cash paid | $ | 1.6 | $ | — | $ | 7.5 | |||||||||||||||
UGI Stock Unit awards: | |||||||||||||||||||||
Number of original awards granted | 36,179 | 32,898 | 22,400 | ||||||||||||||||||
Payment of awards: | |||||||||||||||||||||
Shares of UGI Common Stock issued | 23,516 | 21,757 | 17,545 | ||||||||||||||||||
Cash paid | $ | 0.5 | $ | 0.2 | $ | 0.2 | |||||||||||||||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, we granted UGI Unit awards representing 254,600, 239,845 and 285,470 shares, respectively, having weighted-average grant date fair values per Unit of $37.31, $27.68 and $34.78, respectively. | |||||||||||||||||||||
As of September 30, 2013, there was a total of approximately $8.3 of unrecognized compensation cost associated with 920,601 UGI Unit awards outstanding that is expected to be recognized over a weighted-average period of 2.0 years. The total fair values of UGI Units that vested during Fiscal 2013, Fiscal 2012 and Fiscal 2011 were $6.0, $3.6 and $6.8, respectively. As of September 30, 2013 and 2012, total liabilities of $8.0 and $5.0, respectively, associated with UGI Unit awards are reflected in employee compensation and benefits accrued and other noncurrent liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||||
At September 30, 2013, 13,449,649 shares of Common Stock were available for future grants under the 2013 OICP, and up to 187,543 shares of Common Stock were available for future grants of stock options under the 2004 OECP. | |||||||||||||||||||||
AmeriGas Partners Equity-Based Compensation Plans and Awards. Under the AmeriGas Propane, Inc. 2010 Long-Term Incentive Plan on Behalf of AmeriGas Partners, L.P. (“2010 Propane Plan”), the General Partner may award to employees and non-employee directors grants of AmeriGas Partners Units (comprising “AmeriGas Stock Units” and “AmeriGas Performance Units”), options, unit appreciation rights and other Common Unit-based awards. The 2010 Propane Plan succeeded the AmeriGas Propane, Inc. 2000 Long-Term Incentive Plan (“2000 Propane Plan”) which expired on December 31, 2009, and replaced the AmeriGas Propane, Inc. Discretionary Long-Term Incentive Plan for Non-Executive Key Employees (“Nonexecutive Propane Plan”). The total aggregate number of Common Units that may be issued under the 2010 Propane Plan is 2,800,000. The exercise price for options may not be less than the fair market value on the date of grant. Awards granted under the 2010 Propane Plan may vest immediately or ratably over a period of years, and options can be exercised no later than ten years from the grant date. In addition, the 2010 Propane Plan provides that Common Unit-based awards may also provide for the crediting of Common Unit distribution equivalents to participants’ accounts. | |||||||||||||||||||||
Recipients of AmeriGas Performance Unit awards are awarded a target number of AmeriGas Performance Units. The number of AmeriGas Performance Units ultimately paid at the end of the performance period (generally three years ) may be higher or lower than the target number based upon AmeriGas Partners’ Total Unitholder Return (“TUR”) percentile rank relative to entities in a peer group. Percentile rankings and payout percentages are generally the same as those used for the UGI Performance Unit awards. Any Common Unit distribution equivalents earned are paid in cash. Generally, except in the event of retirement, death or disability, each grant, unless paid, will terminate when the participant ceases to be employed by the General Partner. There are certain change of control and retirement eligibility conditions that, if met, generally result in accelerated vesting or elimination of further service requirements. | |||||||||||||||||||||
As a result of the Heritage Acquisition, certain Heritage Propane employees were awarded AmeriGas Performance Units, AmeriGas Stock Units (in the form of phantom units), or a combination of AmeriGas Performance Units and AmeriGas Stock Units. The terms of the Performance Unit awards granted to Heritage Propane employees are generally the same as those described above. The AmeriGas Stock Units awards granted to Heritage employees vest in tranches with certain awards beginning to vest in January 2013 through January 2016. Certain of the AmeriGas Stock Unit awards provide for accelerated vesting under certain conditions. Under certain conditions all or a portion of these awards could be forfeited. The AmeriGas Stock Unit awards granted to Heritage Propane employees provide for the crediting of distribution equivalents to participants’ accounts. | |||||||||||||||||||||
Under GAAP, AmeriGas Performance Units are equity awards with a market-based condition which, if settled in Common Units, results in the recognition of compensation cost over the requisite employee service period regardless of whether the market-based condition is satisfied. The fair values of AmeriGas Performance Units are estimated using a Monte Carlo valuation model. The fair value associated with the target award and the award above the target, if any, which will be paid in Common Units, is accounted for as equity and the fair value of all Common Unit distribution equivalents, which will be paid in cash, is accounted for as a liability. The expected term of the AmeriGas Performance Unit awards is three years based on the performance period. Expected volatility is based on the historical volatility of Common Units over a three-year period. The risk-free interest rate is based on the rates on U.S. Treasury bonds at the time of grant. Volatility for all limited partnerships in the peer group is based on historical volatility. | |||||||||||||||||||||
The following table summarizes the weighted-average assumptions used to determine the fair value of AmeriGas Performance Unit awards and related compensation costs: | |||||||||||||||||||||
Grants Awarded in Fiscal | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Risk-free rate | 0.4 | % | 0.4 | % | 1 | % | |||||||||||||||
Expected life | 3 years | 3 years | 3 years | ||||||||||||||||||
Expected volatility | 20.7 | % | 23 | % | 34.6 | % | |||||||||||||||
Dividend yield | 8.2 | % | 6.4 | % | 5.8 | % | |||||||||||||||
The General Partner granted awards under the 2010 Propane Plan representing 65,136, 248,818 and 49,287 Common Units in Fiscal 2013, Fiscal 2012 and Fiscal 2011, respectively, having weighted-average grant date fair values per Common Unit subject to award of $42.58, $43.22 and $53.19, respectively. At September 30, 2013, 2,484,839 Common Units were available for future award grants under the 2010 Propane Plan. | |||||||||||||||||||||
The following table summarizes AmeriGas Common Unit-based award activity for Fiscal 2013: | |||||||||||||||||||||
Total | Vested | Non-Vested | |||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||
AmeriGas | Average | AmeriGas | Average | AmeriGas | Average | ||||||||||||||||
Partners | Grant Date | Partners | Grant Date | Partners | Grant Date | ||||||||||||||||
Common | Fair Value | Common | Fair Value | Common | Fair Value | ||||||||||||||||
Units | (per Unit) | Units | (per Unit) | Units | (per Unit) | ||||||||||||||||
Subject | Subject | Subject | |||||||||||||||||||
to Award | to Award | to Award | |||||||||||||||||||
September 30, 2012 | 263,967 | $ | 44.7 | 65,651 | $ | 45.42 | 198,316 | $ | 44.47 | ||||||||||||
AmeriGas Performance Units: | |||||||||||||||||||||
Granted | 44,800 | $ | 42.36 | 1,332 | $ | 41.64 | 43,468 | $ | 42.38 | ||||||||||||
Forfeited | (14,869 | ) | $ | 47.04 | — | $ | — | (14,869 | ) | $ | 47.04 | ||||||||||
Vested | — | $ | — | 20,115 | $ | 43.68 | (20,115 | ) | $ | 43.68 | |||||||||||
Performance criteria not met | (43,350 | ) | $ | 42.1 | (43,350 | ) | $ | 42.1 | — | $ | — | ||||||||||
AmeriGas Stock Units: | |||||||||||||||||||||
Granted | 20,336 | $ | 43.06 | 8,442 | $ | 39.07 | 11,894 | $ | 45.9 | ||||||||||||
Forfeited | (11,333 | ) | $ | 48.79 | — | $ | — | (11,333 | ) | $ | 48.79 | ||||||||||
Vested | — | $ | — | 30,909 | $ | 48.92 | (30,909 | ) | $ | 48.92 | |||||||||||
Awards paid | (35,384 | ) | $ | 47.04 | (35,384 | ) | $ | 47.04 | — | $ | — | ||||||||||
September 30, 2013 | 224,167 | $ | 47.88 | 47,715 | $ | 47.92 | 176,452 | $ | 47.87 | ||||||||||||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, the Partnership paid AmeriGas Common Unit-based awards in Common Units and cash as follows: | |||||||||||||||||||||
2013 (a) | 2012 (a) | 2011 | |||||||||||||||||||
Number of Common Units subject to original awards granted | 54,750 | 60,200 | 41,064 | ||||||||||||||||||
Fiscal year granted | 2010 | 2009 | 2008 | ||||||||||||||||||
Payment of awards: | |||||||||||||||||||||
AmeriGas Partners Common Units issued | 3,850 | 3,500 | 35,787 | ||||||||||||||||||
Cash paid | $ | 0.1 | $ | 0.1 | $ | 1.2 | |||||||||||||||
(a) In addition, during Fiscal 2013 and 2012, 19,342 AmeriGas Stock Units and $0.5 in cash, and 40,516 AmeriGas Stock Units and $0.9 in cash, respectively, were paid to former Heritage Propane employees associated with awards granted in Fiscal 2012. | |||||||||||||||||||||
As of September 30, 2013, there was a total of approximately $3.0 of unrecognized compensation cost associated with 224,168 Common Units subject to award that is expected to be recognized over a weighted-average period of 1.8 years. The total fair value of Common Unit-based awards that vested during Fiscal 2013, Fiscal 2012 and Fiscal 2011 was $2.8, $5.1 and $2.0, respectively. As of September 30, 2013 and 2012, total liabilities of $1.1 and $1.1 associated with Common Unit-based awards are reflected in employee compensation and benefits accrued and other noncurrent liabilities in the Consolidated Balance Sheets. |
Partnership_Distributions_and_
Partnership Distributions and Common Unit Offering | 12 Months Ended | |
Sep. 30, 2013 | ||
Distributions Made to Members or Limited Partners [Abstract] | ' | |
Partnership Distributions and Common Unit Offering | ' | |
The Partnership makes distributions to its partners approximately 45 days after the end of each fiscal quarter in a total amount equal to its Available Cash (as defined in the Partnership Agreement) for such quarter. Available Cash generally means: | ||
1 | all cash on hand at the end of such quarter, | |
2 | plus all additional cash on hand as of the date of determination resulting from borrowings after the end of such quarter, | |
3 | less the amount of cash reserves established by the General Partner in its reasonable discretion. | |
The General Partner may establish reserves for the proper conduct of the Partnership’s business and for distributions during the next four quarters. | ||
Distributions of Available Cash are made 98% to limited partners and 2% to the General Partner (representing a 1% General Partner interest in AmeriGas Partners and 1.01% interest in AmeriGas OLP) until Available Cash exceeds the Minimum Quarterly Distribution of $0.55 and the First Target Distribution of $0.055 per Common Unit (or a total of $0.605 per Common Unit). When Available Cash exceeds $0.605 per Common Unit in any quarter, the General Partner will receive a greater percentage of the total Partnership distribution (the “incentive distribution”) but only with respect to the amount by which the distribution per Common Unit to limited partners exceeds $0.605. | ||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, the Partnership made quarterly distributions to Common Unitholders in excess of $0.605 per limited partner unit. As a result, the General Partner has received a greater percentage of the total Partnership distribution than its aggregate 2% general partner interest in AmeriGas OLP and AmeriGas Partners. The total amount of distributions received by the General Partner with respect to its aggregate 2% general partner ownership interests totaled $27.4 in Fiscal 2013, $19.7 in Fiscal 2012 and $9.0 in Fiscal 2011. Included in these amounts are incentive distributions received by the General Partner during Fiscal 2013, Fiscal 2012 and Fiscal 2011 of $19.3, $13.0 and $5.0, respectively. | ||
In March 2012, AmeriGas Partners sold 7,000,000 Common Units in an underwritten public offering at a public offering price of $41.25 per unit. The net proceeds of the public offering totaling $276.6 and the associated capital contributions from the General Partner totaling $2.8 were used to redeem $200 of 6.50% Senior Notes pursuant to a tender offer (see Note 6), to reduce bank loan borrowings and for general partnership purposes. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||
Commitments and Contingencies | ' | |||||||||||||||||||||||
Commitments | ||||||||||||||||||||||||
We lease various buildings and other facilities and vehicles, computer and office equipment under operating leases. Certain of our leases contain renewal and purchase options and also contain step-rent provisions. Our aggregate rental expense for such leases was $82.5 in Fiscal 2013, $77.9 in Fiscal 2012 and $69.8 in Fiscal 2011. | ||||||||||||||||||||||||
Minimum future payments under operating leases with non-affiliates that have initial or remaining noncancelable terms in excess of one year are as follows: | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | After 2018 | |||||||||||||||||||
AmeriGas Propane | $ | 51 | $ | 41.4 | $ | 33.7 | $ | 26.6 | $ | 21.7 | $ | 55.8 | ||||||||||||
UGI Utilities | 5.5 | 4.7 | 4.2 | 2.7 | 2 | 1.3 | ||||||||||||||||||
UGI International | 8.2 | 5.8 | 4.5 | 3.3 | 1.8 | 1 | ||||||||||||||||||
Other | 2 | 1.6 | 1.4 | 0.6 | 0.2 | 0.1 | ||||||||||||||||||
Total | $ | 66.7 | $ | 53.5 | $ | 43.8 | $ | 33.2 | $ | 25.7 | $ | 58.2 | ||||||||||||
Our businesses enter into contracts of varying lengths and terms to meet their supply, pipeline transportation, storage, capacity and energy needs. Gas Utility has gas supply agreements with producers and marketers with terms not exceeding one year. Gas Utility also has agreements for firm pipeline transportation and natural gas storage services, which Gas Utility may terminate at various dates through Fiscal 2025. Gas Utility’s costs associated with transportation and storage capacity agreements are included in its annual PGC filings with the PUC and are recoverable through PGC rates. In addition, Gas Utility has short-term gas supply agreements which permit it to purchase certain of its gas supply needs on a firm or interruptible basis at spot-market prices. Electric Utility purchases its electricity needs under contracts with various suppliers and on the spot market. Contracts with producers for energy needs expire at various dates through Fiscal 2014. Midstream & Marketing enters into fixed-price contracts with suppliers to purchase natural gas and electricity to meet its sales commitments. Generally, these contracts have terms of less than two years. The Partnership enters into fixed-price and variable-price contracts to purchase a portion of its supply requirements. These contracts currently have terms that do not exceed three years. UGI International enters into fixed-price and variable-priced contracts to purchase a portion of its supply requirements that currently do not exceed three years. | ||||||||||||||||||||||||
The following table presents contractual obligations with non-affiliates under Gas Utility, Electric Utility, Midstream & Marketing, AmeriGas Propane and UGI International supply, storage and service contracts existing at September 30, 2013: | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | After 2018 | |||||||||||||||||||
UGI Utilities supply, storage and transportation contracts | $ | 151.6 | $ | 80.3 | $ | 50.9 | $ | 31.2 | $ | 28 | $ | 72.1 | ||||||||||||
Midstream & Marketing supply contracts | 244.4 | 109.1 | 12.3 | 1.2 | — | — | ||||||||||||||||||
AmeriGas Propane supply contracts | 176.9 | 97.1 | 22.2 | — | — | — | ||||||||||||||||||
UGI International supply contracts | 198.1 | 189.9 | 101 | — | — | — | ||||||||||||||||||
Total | $ | 771 | $ | 476.4 | $ | 186.4 | $ | 32.4 | $ | 28 | $ | 72.1 | ||||||||||||
The Partnership and UGI International also enter into other contracts to purchase LPG to meet supply requirements. Generally, these contracts are one- to three-year agreements subject to annual price and quantity adjustments. | ||||||||||||||||||||||||
Contingencies | ||||||||||||||||||||||||
Environmental Matters | ||||||||||||||||||||||||
UGI Utilities | ||||||||||||||||||||||||
CPG is party to a Consent Order and Agreement (“CPG-COA”) with the Pennsylvania Department of Environmental Protection (“DEP”) requiring CPG to perform a specified level of activities associated with environmental investigation and remediation work at certain properties in Pennsylvania on which manufactured gas plant (“MGP”) related facilities were operated (“CPG MGP Properties”) and to plug a minimum number of non-producing natural gas wells per year. In addition, PNG is a party to a Multi-Site Remediation Consent Order and Agreement (“PNG-COA”) with the DEP. The PNG-COA requires PNG to perform annually a specified level of activities associated with environmental investigation and remediation work at certain properties on which MGP-related facilities were operated (“PNG MGP Properties”). Under these agreements, environmental expenditures relating to the CPG MGP Properties and the PNG MGP Properties are capped at $1.8 and $1.1, respectively, in any calendar year. The CPG-COA is currently scheduled to terminate at the end of 2013. The PNG-COA terminates in 2019 but may be terminated by either party effective at the end of any two-year period beginning with the original effective date in March 2004. At September 30, 2013 and 2012, our accrued liabilities for environmental investigation and remediation costs related to the CPG-COA and the PNG-COA totaled $14.0 and $15.0, respectively. Because CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites, in accordance with GAAP related to rate-regulated entities we have recorded associated regulatory assets in equal amounts. | ||||||||||||||||||||||||
From the late 1800s through the mid-1900s, UGI Utilities and its former subsidiaries owned and operated a number of MGPs prior to the general availability of natural gas. Some constituents of coal tars and other residues of the manufactured gas process are today considered hazardous substances under the Superfund Law and may be present on the sites of former MGPs. Between 1882 and 1953, UGI Utilities owned the stock of subsidiary gas companies in Pennsylvania and elsewhere and also operated the businesses of some gas companies under agreement. Pursuant to the requirements of the Public Utility Holding Company Act of 1935, by the early 1950s UGI Utilities divested all of its utility operations other than certain Pennsylvania operations, including those which now constitute UGI Gas and Electric Utility. | ||||||||||||||||||||||||
UGI Utilities does not expect its costs for investigation and remediation of hazardous substances at Pennsylvania MGP sites to be material to its results of operations because (1) UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of such prudently incurred remediation costs and (2) CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites. At September 30, 2013, neither the undiscounted nor the accrued liability for environmental investigation and cleanup costs for UGI Gas was material. | ||||||||||||||||||||||||
From time to time, UGI Utilities is notified of sites outside Pennsylvania on which private parties allege MGPs were formerly owned or operated by it or owned or operated by its former subsidiaries. Such parties generally investigate the extent of environmental contamination or perform environmental remediation. Management believes that under applicable law UGI Utilities should not be liable in those instances in which a former subsidiary owned or operated an MGP. There could be, however, significant future costs of an uncertain amount associated with environmental damage caused by MGPs outside Pennsylvania that UGI Utilities directly operated, or that were owned or operated by former subsidiaries of UGI Utilities if a court were to conclude that (1) the subsidiary’s separate corporate form should be disregarded or (2) UGI Utilities should be considered to have been an operator because of its conduct with respect to its subsidiary’s MGP. | ||||||||||||||||||||||||
Omaha, Nebraska. By letter dated October 20, 2011, the City of Omaha and the Metropolitan Utilities District (“MUD”) notified UGI Utilities that they had been requested by the United States Environmental Protection Agency (“EPA”) to remediate a former manufactured gas plant site located in Omaha, Nebraska. According to a report prepared on behalf of the EPA identifying potentially responsible parties, a former subsidiary of a UGI Utilities predecessor is identified as an owner and operator of the site. The City of Omaha and MUD have requested that UGI Utilities participate in the cost of remediation for this site. Because of the preliminary nature of available environmental information, the ultimate amount or range of possible clean up costs cannot be reasonably estimated. In addition, UGI Utilities believes that it has strong defenses to any claims that may arise relating to the remediation of this site. By letter dated November 10, 2011, the EPA notified UGI Utilities of its investigation of the site in Omaha, Nebraska, and issued an information request to UGI Utilities. UGI Utilities responded to the EPA’s information request on January 17, 2012. There have been no recent developments in this matter. | ||||||||||||||||||||||||
AmeriGas Propane | ||||||||||||||||||||||||
AmeriGas OLP Saranac Lake. By letter dated March 6, 2008, the New York State Department of Environmental Conservation (“DEC”) notified AmeriGas OLP that DEC had placed property owned by the Partnership in Saranac Lake, New York, on its Registry of Inactive Hazardous Waste Disposal Sites. A site characterization study performed by DEC disclosed contamination related to former MGP operations on the site. DEC has classified the site as a significant threat to public health or environment with further action required. The Partnership has researched the history of the site and its ownership interest in the site. The Partnership has reviewed the preliminary site characterization study prepared by the DEC, the extent of contamination and the possible existence of other potentially responsible parties. The Partnership communicated the results of its research to DEC in January 2009. There have been no recent developments in this matter. Because of the preliminary nature of available environmental information, the ultimate amount or range of possible clean up costs cannot be reasonably estimated. | ||||||||||||||||||||||||
Claremont, New Hampshire and Chestertown, Maryland. In connection with the Heritage Acquisition on January 12, 2012, a predecessor of Titan Propane LLC (“Titan LLC”), a former subsidiary acquired in the Heritage Acquisition, is purportedly the beneficial holder of title with respect to two former MGPs discussed below. The Contribution Agreement provides for indemnification from ETP for certain expenses associated with remediation of these sites. By letter dated September 30, 2010, the EPA notified Titan LLC that it may be a potentially responsible party (“PRP”) for clean up costs associated with contamination at a former MGP in Claremont, New Hampshire. In June 2010, the Maryland Attorney General (“MAG”) identified Titan LLC as a PRP in connection with contamination at a former MGP in Chestertown, Maryland and requested that Titan LLC participate in characterization and remediation activities. Titan LLC has supplied the EPA and MAG with corporate and bankruptcy information for its predecessors to support its claim that it is not liable for any remediation costs at the sites. Because of the preliminary nature of available environmental information, the ultimate amount or range of possible clean up costs cannot be reasonably estimated. | ||||||||||||||||||||||||
Other Matters | ||||||||||||||||||||||||
AmeriGas Cylinder Investigation. On or about October 21, 2009, the General Partner received a notice that the Offices of the District Attorneys of Santa Clara, Sonoma, Ventura, San Joaquin and Fresno Counties and the City Attorney of San Diego (the “District Attorneys”) had commenced an investigation into AmeriGas OLP's cylinder labeling and filling practices in California as a result of the Partnership’s decision in 2008 to reduce the volume of propane from 17 pounds to 15 pounds in the cylinders it provides to retailers who then sell them to consumers. At that time, the District Attorneys issued an administrative subpoena seeking documents and information relating to those practices. We have responded to the administrative subpoena. On or about July 20, 2011, the General Partner received a second subpoena from the District Attorneys. The subpoena sought additional information and documents regarding AmeriGas OLP’s cylinder exchange program. We responded to that subpoena. In connection with this matter, the District Attorneys have alleged potential violations of California's antitrust and unfair competition laws, California’s slack-fill law, and California’s principal false advertising statute. On November 20, 2013, the District Attorneys filed a complaint against the General Partner and AmeriGas OLP and simultaneously filed a proposed stipulated final consent judgment (the “Judgment”) which was approved by the court on December 2, 2013 and resolved all claims against those defendants that were known to the District Attorneys at that time. The Judgment requires the General Partner to pay a civil penalty and to certain injunctive relief including the posting of a consumer notice on all cylinder cages in California. That notice informs consumers, among other things, of the reduction of propane in weight from 17 pounds to 15 pounds. The Judgment will not have a material effect on our consolidated financial position, results of operations or cash flows. | ||||||||||||||||||||||||
Federal Trade Commission Investigation of Propane Grill Cylinder Filling Practices. On or about November 4, 2011, the General Partner received notice that the Federal Trade Commission (“FTC”) is conducting an antitrust and consumer protection investigation into certain practices of the Partnership that relate to the filling of portable propane cylinders. On February 2, 2012, the Partnership received a Civil Investigative Demand from the FTC that requested documents and information concerning, among other things, (i) the Partnership’s decision, in 2008, to reduce the volume of propane in cylinders it sells to consumers from 17 pounds to 15 pounds and (ii) cross-filling, related service arrangements and communications regarding the foregoing with competitors. The Partnership responded to that subpoena and has continued to cooperate with the FTC’s requests for information. The Partnership believes it has good defenses to any claims that may result from this investigation. We are not able to assess the financial impact this investigation or any related claims may have on the Partnership. | ||||||||||||||||||||||||
Purported Class Action Lawsuit. In 2005, Samuel and Brenda Swiger (the “Swigers”) filed what purports to be a class action lawsuit in the Circuit Court of Harrison County, West Virginia, against UGI, an insurance subsidiary of UGI, certain officers of UGI and the General Partner, and their insurance carriers and insurance adjusters. In this lawsuit, the Swigers are seeking compensatory and punitive damages on behalf of the putative class for alleged violations of the West Virginia Insurance Unfair Trade Practice Act, negligence, intentional misconduct, and civil conspiracy. The Court has not certified the class. We believe we have good defenses to the claims in this action. | ||||||||||||||||||||||||
Antargaz Competition Authority Matter. On July 21, 2009, Antargaz received a Statement of Objections (“Statement”) from France’s Autorité de la concurrence (“Competition Authority”) with respect to the investigation of Antargaz by the General Division of Competition, Consumption and Fraud Punishment. The Statement alleged that Antargaz engaged in certain anti-competitive practices in violation of French competition laws related to the cylinder market during the period from 1999 through 2004. On December 17, 2010, the Competition Authority issued its decision dismissing all objections against Antargaz. The appeal period expired without an appeal being filed. As a result of the decision, during the three-month period ended December 31, 2010, the Company reversed its previously recorded nontaxable accrual for this matter which increased Fiscal 2011 net income by $9.4. | ||||||||||||||||||||||||
We cannot predict the final results of any of the environmental or other pending claims or legal actions described above. However, it is reasonably possible that some of them could be resolved unfavorably to us and result in losses in excess of recorded amounts. We are unable to estimate any possible losses in excess of recorded amounts. Although we currently believe, after consultation with counsel, that damages or settlements in amounts in excess of recorded amounts, if any, recovered by the plaintiffs in such claims or actions will not have a material adverse effect on our financial position, damages or settlements could be material to our operating results or cash flows in future periods depending on the nature and timing of future developments with respect to these matters and the amounts of future operating results and cash flows. In addition to the matters described above, there are other pending claims and legal actions arising in the normal course of our businesses. We believe, after consultation with counsel, the final outcome of such other matters will not have a material effect on our consolidated financial position, results of operations or cash flows. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Derivative Financial Instruments | ||||||||||||||||
The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of September 30, 2013 and 2012: | ||||||||||||||||
Asset (Liability) | ||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||
in Active | Other | Inputs | ||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||
Identical Assets | Inputs | |||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | 2.1 | $ | 21.2 | $ | — | $ | 23.3 | ||||||||
Foreign currency contracts | $ | — | $ | 0.9 | $ | — | $ | 0.9 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | (9.7 | ) | $ | (6.3 | ) | $ | — | $ | (16.0 | ) | |||||
Foreign currency contracts | $ | — | $ | (7.2 | ) | $ | — | $ | (7.2 | ) | ||||||
Interest rate contracts | $ | — | $ | (31.0 | ) | $ | — | $ | (31.0 | ) | ||||||
Cross-currency swaps | $ | — | $ | (1.2 | ) | $ | — | $ | (1.2 | ) | ||||||
September 30, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | 8.6 | $ | 4.5 | $ | — | $ | 13.1 | ||||||||
Foreign currency contracts | $ | — | $ | 1.8 | $ | — | $ | 1.8 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | (7.8 | ) | $ | (53.2 | ) | $ | — | $ | (61.0 | ) | |||||
Interest rate contracts | $ | — | $ | (71.9 | ) | $ | — | $ | (71.9 | ) | ||||||
The fair values of our Level 1 exchange-traded commodity futures and option contracts and non exchange-traded commodity futures and forward contracts are based upon actively-quoted market prices for identical assets and liabilities. The remainder of our derivative financial instruments are designated as Level 2. The fair values of certain non-exchange traded commodity derivatives designated as Level 2 are based upon indicative price quotations available through brokers, industry price publications or recent market transactions and related market indicators. For commodity option contracts designated as Level 2 which are not traded on an exchange, we use a Black Scholes option pricing model that considers time value and volatility of the underlying commodity. The fair values of our Level 2 interest rate contracts and foreign currency contracts are based upon third-party quotes or indicative values based on recent market transactions. There were no transfers between Level 1 and Level 2 during the periods presented. | ||||||||||||||||
Other Financial Instruments | ||||||||||||||||
The carrying amounts of other financial instruments included in current assets and current liabilities (except for current maturities of long-term debt) approximate their fair values because of their short-term nature. At September 30, 2013, the carrying amount and estimated fair value of our long-term debt (including current maturities) were $3,609.4 and $3,761.8, respectively. At September 30, 2012, the carrying amount and estimated fair value of our long-term debt (including current maturities) were $3,514.3 and $3,787.6, respectively. We estimate the fair value of long-term debt by using current market rates and by discounting future cash flows using rates available for similar type debt (Level 2). | ||||||||||||||||
Financial instruments other than derivative financial instruments, such as our short-term investments and trade accounts receivable, could expose us to concentrations of credit risk. We limit our credit risk from short-term investments by investing only in investment-grade commercial paper, money market mutual funds, securities guaranteed by the U.S. Government or its agencies and FDIC insured bank deposits. The credit risk from trade accounts receivable is limited because we have a large customer base which extends across many different U.S. markets and several foreign countries. For information regarding concentrations of credit risk associated with our derivative financial instruments, see Note 18. Our investment in a private equity partnership is measured at fair value on a non-recurring basis. Generally this measurement uses Level 3 fair value inputs because the investment does not have a readily available market value. |
Disclosures_About_Derivative_I
Disclosures About Derivative Instruments and Hedging Activities | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Disclosures About Derivative Instruments and Hedging Activities | ' | |||||||||||||||||||||||||
We are exposed to certain market risks related to our ongoing business operations. Management uses derivative financial and commodity instruments, among other things, to manage these risks. The primary risks managed by derivative instruments are (1) commodity price risk, (2) interest rate risk and (3) foreign currency exchange rate risk. Although we use derivative financial and commodity instruments to reduce market risk associated with forecasted transactions, we do not use derivative financial and commodity instruments for speculative or trading purposes. The use of derivative instruments is controlled by our risk management and credit policies which govern, among other things, the derivative instruments we can use, counterparty credit limits and contract authorization limits. A substantial portion of our derivative financial instruments, other than commodity derivative instruments at Midstream & Marketing, are designated and qualify as cash flow hedges or net investment hedges. Substantially all of Midstream & Marketing’s commodity derivative instruments are not accounted for as hedges under GAAP. Because a substantial portion of our derivative instruments qualify for and are designated as hedges under GAAP or are subject to regulatory rate recovery mechanisms, we expect that changes in the fair value of derivative instruments used to manage commodity, interest rate or currency exchange rate risk would be substantially offset by gains or losses on the associated anticipated transactions. | ||||||||||||||||||||||||||
Commodity Price Risk | ||||||||||||||||||||||||||
In order to manage market price risk associated with the Partnership’s fixed-price programs which permit customers to lock in the prices they pay for propane principally during the months of October through March, the Partnership uses over-the-counter derivative commodity instruments, principally price swap contracts. In addition, the Partnership, certain other domestic business units and our UGI International operations also use over-the-counter price swap and option contracts to reduce commodity price volatility associated with a portion of their forecasted LPG purchases. In addition, the Partnership from time to time enters into price swap and put option agreements to reduce the effects of short-term commodity price volatility which agreements are generally not designated as hedges for accounting purposes. | ||||||||||||||||||||||||||
Gas Utility’s tariffs contain clauses that permit recovery of all of the prudently incurred costs of natural gas it sells to retail core-market customers, including the cost of financial instruments used to hedge purchased gas costs. As permitted and agreed to by the PUC pursuant to Gas Utility’s annual PGC filings, Gas Utility currently uses New York Mercantile Exchange (“NYMEX”) natural gas futures and option contracts to reduce commodity price volatility associated with a portion of the natural gas it purchases for its retail core-market customers. At September 30, 2013 and 2012, the volumes of natural gas associated with Gas Utility’s unsettled NYMEX natural gas futures and option contracts totaled 15.0 million dekatherms and 19.2 million dekatherms, respectively. At September 30, 2013, the maximum period over which Gas Utility is hedging natural gas market price risk is 12 months. Gains and losses on natural gas futures contracts and any gains on natural gas option contracts are recorded in regulatory assets or liabilities on the Consolidated Balance Sheets in accordance with GAAP related to rate-regulated entities and reflected in cost of sales through the PGC mechanism (see Note 9). | ||||||||||||||||||||||||||
Electric Utility’s DS tariffs permit the recovery of all prudently incurred costs of electricity it sells to DS customers, including the cost of financial instruments used to hedge electricity costs. Electric Utility enters into forward electricity purchase contracts to meet a substantial portion of its electricity supply needs. Because these contracts currently do not qualify for the normal purchases and normal sales exception under GAAP, the fair values of these contracts are required to be recognized on the balance sheet. At September 30, 2013 and 2012, the fair values of Electric Utility’s forward purchase power agreements comprising losses of $4.8 and $9.2, respectively, are reflected in current derivative financial instrument liabilities and other noncurrent liabilities in the accompanying Consolidated Balance Sheets. In accordance with GAAP related to rate-regulated entities, Electric Utility has recorded equal and offsetting amounts in regulatory assets. At September 30, 2013 and 2012, the volumes of Electric Utility’s forward electricity purchase contracts were 245.8 million kilowatt hours and 570.4 million kilowatt hours, respectively. At September 30, 2013, the maximum period over which these contracts extend is 8 months. | ||||||||||||||||||||||||||
In order to reduce volatility associated with a substantial portion of its electricity transmission congestion costs, Electric Utility obtains FTRs through an annual allocation process and by purchases of FTRs at monthly auctions. Midstream & Marketing purchases FTRs to economically hedge electricity transmission congestion costs associated with its fixed-price electricity sales contracts. FTRs are derivative financial instruments that entitle the holder to receive compensation for electricity transmission congestion charges that result when there is insufficient electricity transmission capacity on the electric transmission grid. Because Electric Utility is entitled to fully recover its DS costs, gains and losses on Electric Utility FTRs are recorded in regulatory assets or liabilities in accordance with GAAP related to rate-regulated entities and reflected in cost of sales through the DS recovery mechanism (see Note 9). Midstream & Marketing from time to time also enters into New York Independent System Operator (“NYISO”) capacity swap contracts to economically hedge the locational basis differences for customers it serves on the NYISO electricity grid. At September 30, 2013 and 2012, the volumes associated with Electric Utility FTRs totaled 189.3 million kilowatt hours and 189.7 million kilowatt hours, respectively. Midstream & Marketing’s FTRs and capacity swap contracts are recorded at fair value with changes in fair value reflected in cost of sales. At September 30, 2013 and 2012, the volumes associated with Midstream & Marketing’s FTRs and NYISO capacity swap contracts totaled 1,401.9 million kilowatt hours and 988.8 million kilowatt hours, respectively. | ||||||||||||||||||||||||||
In order to manage market price risk relating to fixed-price sales contracts for natural gas and electricity, Midstream & Marketing enters into NYMEX and over-the-counter natural gas futures contracts, IntercontinentalExchange (“ICE”) natural gas basis swap contracts, and electricity futures contracts. Midstream & Marketing also uses NYMEX and over the counter electricity futures contracts to hedge the price of a portion of its anticipated future sales of electricity from its electric generation facilities. In addition, Midstream & Marketing uses NYMEX futures contracts to economically hedge the gross margin associated with the purchase and anticipated later sale of natural gas or propane. Substantially all of Midstream & Marketing’s derivative financial instruments described above are not accounted for as hedges under GAAP. These derivative instruments are recorded at fair value with changes in fair value reflected in income. As a result, volatility in Midstream and Marketing’s results can occur due to changes in the fair value of unsettled derivative instruments. Volatility can also occur as a result of timing differences between the settlement of financial derivatives and the sale or purchase of the corresponding physical commodity that was economically hedged. | ||||||||||||||||||||||||||
At September 30, 2013 and September 30, 2012, total volumes associated with Midstream & Marketing’s natural gas futures contracts associated with forecasted purchases of natural gas totaled 24.3 million dekatherms and 23.6 million dekatherms, respectively. At September 30, 2013 and 2012, total volumes associated with Midstream & Marketing’s electricity call contracts and electricity put contracts totaled 754.4 million kilowatt hours and 393.0 million kilowatt hours, and 1,415.7 million kilowatt hours and 135.3 million kilowatt hours, respectively. At September 30, 2013, the volumes associated with Midstream & Marketing’s natural gas and propane storage NYMEX contracts totaled 2.9 million dekatherms and 2.8 million gallons, respectively. At September 30, 2012, the volumes associated with Midstream & Marketing’s natural gas and propane storage NYMEX contracts totaled 4.3 million dekatherms and 3.1 million gallons, respectively. | ||||||||||||||||||||||||||
In order to reduce operating expense volatility, UGI Utilities from time to time enters into NYMEX gasoline futures and swap contracts for a portion of gasoline volumes expected to be used in the operation of its vehicles and equipment. Associated volumes, fair values and effects on net income were not material for all periods presented. | ||||||||||||||||||||||||||
At September 30, 2013 and 2012, we had the following outstanding derivative commodity instruments volumes that qualify for hedge accounting treatment: | ||||||||||||||||||||||||||
Volumes | ||||||||||||||||||||||||||
Commodity | 2013 | 2012 | ||||||||||||||||||||||||
LPG (millions of gallons) | 279 | 243.9 | ||||||||||||||||||||||||
Electricity calls (millions of kilowatt hours) | 594.8 | 1,151.70 | ||||||||||||||||||||||||
At September 30, 2013, the maximum period over which we are hedging our exposure to the variability in cash flows associated with LPG commodity price risk is 24 months with a weighted average of 6 months and the maximum period over which we are hedging our exposure to the variability in cash flows associated with electricity price risk (excluding Electric Utility) is 24 months for electricity forward purchase contracts, with a weighted average of 8 months. | ||||||||||||||||||||||||||
We account for commodity price risk contracts (other than Midstream & Marketing’s contracts that are not designated as accounting hedges and Gas Utility and Electric Utility contracts that are subject to regulatory treatment) as cash flow hedges. Changes in the fair values of contracts qualifying for cash flow hedge accounting are recorded in AOCI and, with respect to the Partnership, noncontrolling interests, to the extent effective in offsetting changes in the underlying commodity price risk. When earnings are affected by the hedged commodity, gains or losses are recorded in cost of sales in the Consolidated Statements of Income. At September 30, 2013, the amount of net losses associated with commodity price risk hedges expected to be reclassified into earnings during the next twelve months based upon current fair values is $13.6. | ||||||||||||||||||||||||||
Interest Rate Risk | ||||||||||||||||||||||||||
Antargaz’ and Flaga’s long-term debt agreements have interest rates that are generally indexed to short-term market interest rates. Antargaz has entered into pay-fixed, receive-variable interest rate swap agreements to hedge the underlying euribor rate of interest on its variable-rate term loan, and Flaga has entered into pay-fixed, receive-variable interest rate swap agreements to hedge the underlying euribor rate of interest on its term loans, in each case through the respective scheduled maturity dates. As of September 30, 2013 and 2012, the total notional amounts of variable-rate debt subject to interest rate swap agreements (excluding Flaga’s cross-currency swap as described below) were €440.5 and €441.9, respectively. | ||||||||||||||||||||||||||
Our domestic businesses’ long-term debt is typically issued at fixed rates of interest. As these long-term debt issues mature, we typically refinance such debt with new debt having interest rates reflecting then-current market conditions. In order to reduce market rate risk on the underlying benchmark rate of interest associated with near- to medium-term forecasted issuances of fixed-rate debt, from time to time we enter into interest rate protection agreements (“IRPAs”). At September 30, 2013, we had no unsettled IRPAs. At September 30, 2012, the total notional amount of unsettled IRPAs was $173.0. | ||||||||||||||||||||||||||
During Fiscal 2012, UGI Utilities reclassified pre-tax losses of $0.7 from AOCI into income as a result of the discontinuance of cash flow hedge accounting for a portion of expected interest payments associated with the issuance of long-term debt originally anticipated to occur in September 2012. Such losses are included in other income, net, in the 2012 Consolidated Statement of Income. | ||||||||||||||||||||||||||
We account for interest rate swaps and IRPAs as cash flow hedges. Changes in the fair values of interest rate swaps and IRPAs are recorded in AOCI and, with respect to the Partnership, noncontrolling interests, to the extent effective in offsetting changes in the underlying interest rate risk, until earnings are affected by the hedged interest expense. At such time, gains and losses are recorded in interest expense. At September 30, 2013, the amount of net losses associated with interest rate hedges (excluding pay-fixed, receive-variable interest rate swaps) expected to be reclassified into earnings during the next twelve months is $2.7. | ||||||||||||||||||||||||||
Foreign Currency Exchange Rate Risk | ||||||||||||||||||||||||||
In order to reduce volatility, Antargaz hedges a portion of its anticipated U.S. dollar-denominated LPG product purchases through the use of forward foreign currency exchange contracts. The amount of dollar-denominated purchases of LPG associated with such contracts generally represents approximately 15% to 30% of estimated dollar-denominated purchases of LPG to occur during the heating-season months of October through March. At September 30, 2013 and 2012, we were hedging a total of $200.2 and $174.5 of U.S. dollar-denominated LPG purchases, respectively. At September 30, 2013, the maximum period over which we are hedging our exposure to the variability in cash flows associated with dollar-denominated purchases of LPG is 30 months with a weighted average of 11 months. From time to time we also enter into forward foreign currency exchange contracts to reduce the volatility of the U.S. dollar value on a portion of our International Propane euro-denominated net investments. At September 30, 2013 and 2012, we had no euro-dominated net investment hedges. | ||||||||||||||||||||||||||
We account for foreign currency exchange contracts associated with anticipated purchases of U.S. dollar-denominated LPG as cash flow hedges. Changes in the fair values of these foreign currency exchange contracts are recorded in AOCI, to the extent effective in offsetting changes in the underlying currency exchange rate risk, until earnings are affected by the hedged LPG purchase, at which time gains and losses are recorded in cost of sales. At September 30, 2013, the amount of net losses associated with currency rate risk (other than net investment hedges) expected to be reclassified into earnings during the next twelve months based upon current fair values is $2.5. Gains and losses on net investment hedges are included in AOCI until such foreign operations are liquidated. | ||||||||||||||||||||||||||
From time to time, the Company may enter into foreign currency exchange transactions to economically hedge the local-currency purchase price of anticipated foreign business acquisitions. These transactions do not qualify for hedge accounting treatment and any changes in fair value are recorded in other income, net. | ||||||||||||||||||||||||||
Cross-Currency Swaps | ||||||||||||||||||||||||||
During Fiscal 2013, Flaga entered into a cross-currency swap to hedge its exposure to the variability in expected future cash flows associatd with foreign currency and interest rate risk resulting from the issuance of $52.0 million of U.S. dollar denominated variable-rate debt. The cross-currency hedge includes initial and final exchanges of principal from a fixed euro denomination to a fixed U.S. denominated amount, to be exchanged at a specified rate, which was determined by the market spot rate on the date of issuance. The cross-currency swap also includes an interest rate swap of a fixed foreign-denominated interest rate to a fixed U.S. denominated interest rate. We have designated this cross-currency swap as a cash flow hedge. Changes in the fair value of our cross-currency swap is recorded in AOCI to the extent effective in offsetting changes in the underlying foreign currency exchange and interest rate risk. At September 30, 2013, the amount of net losses associated with this cross-currency swap expected to be reclassified into earnings over the next twelve months is not material. | ||||||||||||||||||||||||||
Derivative Financial Instrument Credit Risk | ||||||||||||||||||||||||||
We are exposed to risk of loss in the event of nonperformance by our derivative financial instrument counterparties. Our derivative financial instrument counterparties principally comprise large energy companies and major U.S. and international financial institutions. We maintain credit policies with regard to our counterparties that we believe reduce overall credit risk. These policies include evaluating and monitoring our counterparties’ financial condition, including their credit ratings, and entering into agreements with counterparties that govern credit limits or entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate. Certain of these agreements call for the posting of collateral by the counterparty or by the Company in the form of letters of credit, parental guarantees or cash. Additionally, our natural gas and electricity exchange-traded futures contracts generally require cash deposits in margin accounts. At September 30, 2013 and 2012, restricted cash in brokerage accounts totaled $7.0 and $3.0, respectively. Although we have concentrations of credit risk associated with derivative financial instruments, the maximum amount of loss, based upon the gross fair values of the derivative financial instruments, we would incur if these counterparties failed to perform according to the terms of their contracts was not material at September 30, 2013. Certain of the Partnership’s derivative contracts have credit-risk-related contingent features that may require the posting of additional collateral in the event of a downgrade of the Partnership’s debt rating. At September 30, 2013, if the credit-risk-related contingent features were triggered, the amount of collateral required to be posted would not be material. | ||||||||||||||||||||||||||
The following table provides information regarding the balance sheet location and fair value of derivative assets and liabilities existing as of September 30, 2013 and 2012: | ||||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
Balance Sheet | 2013 | 2012 | Balance Sheet | 2013 | 2012 | |||||||||||||||||||||
Location | Location | |||||||||||||||||||||||||
Derivatives Designated as Hedging Instruments: | ||||||||||||||||||||||||||
Commodity contracts | Derivative financial instruments | $ | 16.1 | $ | 3.3 | Derivative financial instruments | $ | (2.6 | ) | $ | (43.6 | ) | ||||||||||||||
and Other assets | and Other noncurrent liabilities | |||||||||||||||||||||||||
Foreign currency contracts | Derivative financial instruments | 0.9 | 1.8 | Derivative financial instruments | (7.2 | ) | — | |||||||||||||||||||
and Other assets | and Other noncurrent liabilities | |||||||||||||||||||||||||
Cross-currency contracts | — | — | Derivative financial instruments | (1.2 | ) | — | ||||||||||||||||||||
and Other noncurrent liabilities | ||||||||||||||||||||||||||
Interest rate contracts | — | — | Derivative financial instruments | (31.0 | ) | (71.9 | ) | |||||||||||||||||||
and Other noncurrent liabilities | ||||||||||||||||||||||||||
Total Derivatives Designated as Hedging Instruments | $ | 17 | $ | 5.1 | $ | (42.0 | ) | $ | (115.5 | ) | ||||||||||||||||
Derivatives Accounted for Under ASC 980: | ||||||||||||||||||||||||||
Commodity contracts | Derivative financial instruments | $ | — | $ | 5.3 | Derivative financial instruments | $ | (6.7 | ) | $ | (9.4 | ) | ||||||||||||||
and Other noncurrent liabilities | ||||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||||||||
Commodity contracts | Derivative financial instruments | $ | 7.2 | $ | 4.5 | Derivative financial instruments | $ | (6.7 | ) | $ | (8.0 | ) | ||||||||||||||
and Other assets | ||||||||||||||||||||||||||
Total Derivatives | $ | 24.2 | $ | 14.9 | $ | (55.4 | ) | $ | (132.9 | ) | ||||||||||||||||
The following tables provide information on the effects of derivative instruments in the Consolidated Statement of Income and changes in AOCI and noncontrolling interest for Fiscal 2013 and 2012: | ||||||||||||||||||||||||||
Gain or (Loss) | Gain or (Loss) | Location of Gain or (Loss) Reclassified from | ||||||||||||||||||||||||
Recognized in | Reclassified from | AOCI and Noncontrolling | ||||||||||||||||||||||||
AOCI and | AOCI and Noncontrolling | Interests into Income | ||||||||||||||||||||||||
Noncontrolling Interests | Interests into Income | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||||||||||
Commodity contracts | $ | 8.3 | $ | (98.0 | ) | $ | 27.3 | $ | (49.5 | ) | $ | (61.4 | ) | $ | 35.3 | Cost of sales | ||||||||||
Foreign currency contracts | (8.3 | ) | (0.5 | ) | 6.9 | (0.1 | ) | 2.1 | (0.8 | ) | Cost of sales | |||||||||||||||
Cross-currency contracts | (1.2 | ) | — | — | — | — | — | |||||||||||||||||||
Interest rate contracts | 22.9 | (36.8 | ) | (35.8 | ) | (14.2 | ) | (11.5 | ) | (14.1 | ) | Interest expense /other income | ||||||||||||||
Total | $ | 21.7 | $ | (135.3 | ) | $ | (1.6 | ) | $ | (63.8 | ) | $ | (70.8 | ) | $ | 20.4 | ||||||||||
Net Investment Hedges: | ||||||||||||||||||||||||||
Foreign currency contracts | $ | — | $ | 0.6 | $ | 0.2 | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||||||||
Gain or (Loss) | Location of | |||||||||||||||||||||||||
Recognized in Income | Gain or (Loss) | |||||||||||||||||||||||||
2013 | 2012 | 2011 | Recognized in Income | |||||||||||||||||||||||
Commodity contracts | $ | 9.3 | $ | 0.1 | $ | 29.7 | Cost of sales | |||||||||||||||||||
Commodity contracts | — | 0.2 | 0.3 | Operating expenses / other income | ||||||||||||||||||||||
Foreign currency contracts | (0.4 | ) | 0.5 | (6.1 | ) | Other income | ||||||||||||||||||||
Total | $ | 8.9 | $ | 0.8 | $ | 23.9 | ||||||||||||||||||||
The amounts of derivative gains or losses representing ineffectiveness, and the amounts of gains or losses recognized in income as a result of excluding derivatives from ineffectiveness testing, were not material for Fiscal 2013, Fiscal 2012 and Fiscal 2011. | ||||||||||||||||||||||||||
As a result of the Partnership’s refinancing of its 7.125% Senior Notes (see Note 6), during the three months ended September 30, 2011, the Partnership discontinued cash flow hedge accounting for settled but unamortized IRPA losses associated with AmeriGas Partners Senior Notes and recorded a loss of $2.6 which amount is included in loss on extinguishments of debt on the Fiscal 2011 Consolidated Statement of Income. | ||||||||||||||||||||||||||
We are also a party to a number of other contracts that have elements of a derivative instrument. These contracts include, among others, binding purchase orders, contracts which provide for the purchase and delivery, or sale, of natural gas, LPG and electricity, and service contracts that require the counterparty to provide commodity storage, transportation or capacity service to meet our normal sales commitments. Although many of these contracts have the requisite elements of a derivative instrument, these contracts qualify for normal purchases and normal sales exception accounting under GAAP because they provide for the delivery of products or services in quantities that are expected to be used in the normal course of operating our business and the price in the contract is based on an underlying that is directly associated with the price of the product or service being purchased or sold. |
Energy_Services_Accounts_Recei
Energy Services Accounts Receivable Securitization Facility | 12 Months Ended |
Sep. 30, 2013 | |
Transfers and Servicing of Financial Assets [Abstract] | ' |
Energy Services Accounts Receivable Securitization Facility | ' |
At September 30, 2013, Energy Services had a $100 million receivables purchase facility (“Receivables Facility”) with an issuer of receivables-backed commercial paper. Prior to its scheduled expiration on November 1, 2013, Energy Services extended its Receivables Facility until October 31, 2014, and amended the Receivables Facility to better align its borrowing limits with Energy Services’ seasonal borrowing needs. The Receivables Facility, as amended, provides Energy Services with the ability to borrow up to $150 million of eligible receivables during the period November 1, 2013 to May 31, 2014, and up to $75 million of eligible receivables during the period June 1, 2014 to October 31, 2014. | |
Under the Receivables Facility, Energy Services transfers, on an ongoing basis and without recourse, its trade accounts receivable to its wholly owned, special purpose subsidiary, Energy Services Funding Corporation (“ESFC”), which is consolidated for financial statement purposes. ESFC, in turn, has sold, and subject to certain conditions, may from time to time sell, an undivided interest in some or all of the receivables to a commercial paper conduit of a major bank (through September 30, 2013) and, subsequent to September 30, 2013, to the bank itself . ESFC was created and has been structured to isolate its assets from creditors of Energy Services and its affiliates, including UGI. Trade receivables sold to the commercial paper conduit or the bank remain on the Company’s balance sheet and the Company reflects a liability equal to the amount advanced by the commercial paper conduit or the bank. The Company records interest expense on amounts owed to the commercial paper conduit or the bank. Energy Services continues to service, administer and collect trade receivables on behalf of the commercial paper issuer and ESFC. | |
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, Energy Services transferred trade receivables totaling $975.3, $836.0 and $1,134.9, respectively, to ESFC. During Fiscal 2013, Fiscal 2012 and Fiscal 2011, ESFC sold an aggregate $291.0, $286.0 and $88.0, respectively, of undivided interests in its trade receivables to the commercial paper conduit. At September 30, 2013, the outstanding balance of ESFC trade receivables was $55.0 of which $30.0 was sold to the commercial paper conduit and reflected on the Consolidated Balance Sheet as bank loans. At September 30, 2012, the outstanding balance of ESFC trade receivables was $43.5 of which no amount was sold to the commercial paper conduit. Losses on sales of receivables to the commercial paper conduit during Fiscal 2013, Fiscal 2012 and Fiscal 2011, which amounts are included in interest expense on the Consolidated Statements of Income, totaled $0.7, $1.0 and $1.2, respectively. |
Other_Income_Net
Other Income, Net | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Other Cost and Expense Disclosure, Operating [Abstract] | ' | |||||||||||
Other Income, Net | ' | |||||||||||
Other income, net, comprises the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest and interest-related income | $ | 2.2 | $ | 2.4 | $ | 2.3 | ||||||
Antargaz Competition Authority matter | — | — | 9.4 | |||||||||
Utility non-tariff service income | 2.8 | 2.7 | 6.4 | |||||||||
Foreign currency hedge (loss) gain | (0.4 | ) | 0.5 | (6.1 | ) | |||||||
Finance charges | 21.4 | 18.8 | 15.1 | |||||||||
Loss on private equity partnership investment | (6.3 | ) | — | — | ||||||||
Other, net | 13.1 | 15.4 | 18.4 | |||||||||
Total other income, net | $ | 32.8 | $ | 39.8 | $ | 45.5 | ||||||
Quarterly_Data_Unaudited
Quarterly Data (Unaudited) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Quarterly Data (unaudited) | ' | |||||||||||||||||||||||||||||||||||||||
The following unaudited quarterly data includes adjustments (consisting only of normal recurring adjustments with the exception of those indicated below) which we consider necessary for a fair presentation unless otherwise indicated and reflects the revisions or restatements to correct the errors described in Note 3. Our quarterly results fluctuate because of the seasonal nature of our businesses. | ||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Mar-13 | 30-Jun-13 | September 30, 2013 (a) | |||||||||||||||||||||||||||||||||||||
As Previously Reported | Adjustments | As Revised (See Note 3) | As Previously Reported | Adjustments | As Restated (See Note 3) | As Previously Reported | Adjustments | As Revised (See Note 3) | ||||||||||||||||||||||||||||||||
Revenues | $ | 2,023.20 | $ | (4.5 | ) | $ | 2,018.70 | $ | 2,537.10 | $ | 5.6 | $ | 2,542.70 | $ | 1,372.30 | $ | 2 | $ | 1,374.30 | $ | 1,259.00 | |||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||
Cost of sales (excluding depreciation shown below) | 1,218.80 | (3.3 | ) | 1,215.50 | 1,500.60 | (13.9 | ) | 1,486.70 | 827.9 | 8.9 | 836.8 | 785.4 | ||||||||||||||||||||||||||||
Operating and administrative expenses | 426.9 | — | 426.9 | 465.8 | (4.3 | ) | 461.5 | 404.7 | 2.8 | 407.5 | 396.1 | |||||||||||||||||||||||||||||
Utility taxes other than income taxes | 4.3 | — | 4.3 | 4.7 | — | 4.7 | 3.7 | — | 3.7 | 4.2 | ||||||||||||||||||||||||||||||
Depreciation | 71.8 | 0.7 | 72.5 | 71.7 | 2.3 | 74 | 76.5 | (0.1 | ) | 76.4 | 78.5 | |||||||||||||||||||||||||||||
Amortization | 15.3 | — | 15.3 | 15.6 | — | 15.6 | 15.4 | — | 15.4 | 15.4 | ||||||||||||||||||||||||||||||
Other income, net | (10.0 | ) | — | (10.0 | ) | (7.5 | ) | — | (7.5 | ) | (9.0 | ) | 2 | (7.0 | ) | (8.3 | ) | |||||||||||||||||||||||
1,727.10 | (2.6 | ) | 1,724.50 | 2,050.90 | (15.9 | ) | 2,035.00 | 1,319.20 | 13.6 | 1,332.80 | 1,271.30 | |||||||||||||||||||||||||||||
Operating income (loss) | 296.1 | (1.9 | ) | 294.2 | 486.2 | 21.5 | 507.7 | 53.1 | (11.6 | ) | 41.5 | (12.3 | ) | |||||||||||||||||||||||||||
Income (loss) from equity investees | — | — | — | 0.1 | — | 0.1 | — | — | — | (0.5 | ) | |||||||||||||||||||||||||||||
Interest expense | (60.3 | ) | (1.2 | ) | (61.5 | ) | (60.1 | ) | — | (60.1 | ) | (59.2 | ) | — | (59.2 | ) | (59.5 | ) | ||||||||||||||||||||||
Income (loss) before income taxes | 235.8 | (3.1 | ) | 232.7 | 426.2 | 21.5 | 447.7 | (6.1 | ) | (11.6 | ) | (17.7 | ) | (72.3 | ) | |||||||||||||||||||||||||
Income tax (expense) benefit | (65.1 | ) | 0.2 | (64.9 | ) | (100.0 | ) | (6.0 | ) | (106.0 | ) | (9.0 | ) | 3.9 | (5.1 | ) | 13.2 | |||||||||||||||||||||||
Net income (loss) | 170.7 | (2.9 | ) | 167.8 | 326.2 | 15.5 | 341.7 | (15.1 | ) | (7.7 | ) | (22.8 | ) | (59.1 | ) | |||||||||||||||||||||||||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | (68.1 | ) | 2.8 | (65.3 | ) | (154.3 | ) | (6.7 | ) | (161.0 | ) | 29.8 | 2.1 | 31.9 | 44.9 | |||||||||||||||||||||||||
Net income (loss) attributable to UGI Corporation | $ | 102.6 | $ | (0.1 | ) | $ | 102.5 | $ | 171.9 | $ | 8.8 | $ | 180.7 | $ | 14.7 | $ | (5.6 | ) | $ | 9.1 | $ | (14.2 | ) | |||||||||||||||||
Earnings (loss) per common share attributable to UGI Corporation stockholders: | ||||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.91 | $ | 0.91 | $ | 1.51 | $ | 1.59 | $ | 0.13 | $ | 0.08 | $ | (0.12 | ) | |||||||||||||||||||||||||
Diluted | $ | 0.9 | $ | 0.9 | $ | 1.49 | $ | 1.57 | $ | 0.13 | $ | 0.08 | $ | (0.12 | ) | |||||||||||||||||||||||||
Average common shares outstanding (thousands): | ||||||||||||||||||||||||||||||||||||||||
Basic | 113,136 | 113,136 | 113,709 | 113,709 | 114,240 | 114,240 | 114,598 | |||||||||||||||||||||||||||||||||
Diluted | 114,490 | 114,490 | 115,199 | 115,199 | 116,196 | 116,196 | 114,598 | |||||||||||||||||||||||||||||||||
December 31, 2011 (b) | March 31, 2012 (c) | 30-Jun-12 | 30-Sep-12 | |||||||||||||||||||||||||||||||||||||
As Previously Reported | Adjustments | As Restated (See Note 3) | As Previously Reported | Adjustments | As Revised (See Note 3) | As Previously Reported | Adjustments | As Restated (See Note 3) | As Previously Reported | Adjustments | As Revised (See Note 3) | |||||||||||||||||||||||||||||
Revenues | $ | 1,688.80 | $ | (2.0 | ) | $ | 1,686.80 | $ | 2,427.50 | $ | 0.3 | $ | 2,427.80 | $ | 1,277.20 | $ | 3.5 | $ | 1,280.70 | $ | 1,125.70 | $ | 0.3 | $ | 1,126.00 | |||||||||||||||
Costs and expenses: | — | |||||||||||||||||||||||||||||||||||||||
Cost of sales (excluding depreciation shown below) | 1,101.80 | 20.5 | 1,122.30 | 1,526.60 | (2.3 | ) | 1,524.30 | 810.2 | (17.5 | ) | 792.7 | 672.6 | (12.8 | ) | 659.8 | |||||||||||||||||||||||||
Operating and administrative expenses | 342.4 | 0.3 | 342.7 | 443.3 | 0.5 | 443.8 | 405.8 | (1.3 | ) | 404.5 | 400.2 | (0.1 | ) | 400.1 | ||||||||||||||||||||||||||
Utility taxes other than income taxes | 4.1 | — | 4.1 | 4.9 | — | 4.9 | 3.9 | — | 3.9 | 4.4 | — | 4.4 | ||||||||||||||||||||||||||||
Depreciation | 52.8 | 0.1 | 52.9 | 68.7 | (0.2 | ) | 68.5 | 69.5 | (0.1 | ) | 69.4 | 73.2 | (0.8 | ) | 72.4 | |||||||||||||||||||||||||
Amortization | 7.5 | — | 7.5 | 14.1 | — | 14.1 | 15.1 | — | 15.1 | 15.1 | — | 15.1 | ||||||||||||||||||||||||||||
Other income, net | (8.1 | ) | — | (8.1 | ) | (10.9 | ) | (1.9 | ) | (12.8 | ) | (8.1 | ) | — | (8.1 | ) | (11.2 | ) | 0.4 | (10.8 | ) | |||||||||||||||||||
1,500.50 | 20.9 | 1,521.40 | 2,046.70 | (3.9 | ) | 2,042.80 | 1,296.40 | (18.9 | ) | 1,277.50 | 1,154.30 | (13.3 | ) | 1,141.00 | ||||||||||||||||||||||||||
Operating income (loss) | 188.3 | (22.9 | ) | 165.4 | 380.8 | 4.2 | 385 | (19.2 | ) | 22.4 | 3.2 | (28.6 | ) | 13.6 | (15.0 | ) | ||||||||||||||||||||||||
Loss from equity investees | (0.1 | ) | — | (0.1 | ) | — | — | — | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | — | (0.1 | ) | ||||||||||||||||||||||
Loss on extinguishments of debt | — | — | — | (13.4 | ) | — | (13.4 | ) | 0.1 | — | 0.1 | — | — | — | ||||||||||||||||||||||||||
Interest expense | (36.0 | ) | — | (36.0 | ) | (65.3 | ) | 2.8 | (62.5 | ) | (61.3 | ) | 0.4 | (60.9 | ) | (58.9 | ) | (2.1 | ) | (61.0 | ) | |||||||||||||||||||
Income (loss) before income taxes | 152.2 | (22.9 | ) | 129.3 | 302.1 | 7 | 309.1 | (80.5 | ) | 22.8 | (57.7 | ) | (87.6 | ) | 11.5 | (76.1 | ) | |||||||||||||||||||||||
Income tax (expense) benefit | (42.1 | ) | 8.8 | (33.3 | ) | (75.1 | ) | (2.1 | ) | (77.2 | ) | 4 | (8.1 | ) | (4.1 | ) | 13.6 | (5.9 | ) | 7.7 | ||||||||||||||||||||
Net income (loss) | 110.1 | (14.1 | ) | 96 | 227 | 4.9 | 231.9 | (76.5 | ) | 14.7 | (61.8 | ) | (74.0 | ) | 5.6 | (68.4 | ) | |||||||||||||||||||||||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | (23.1 | ) | 2 | (21.1 | ) | (93.6 | ) | (2.0 | ) | (95.6 | ) | 70.2 | (3.1 | ) | 67.1 | 59.3 | 2.8 | 62.1 | ||||||||||||||||||||||
Net income (loss) attributable to UGI Corporation | $ | 87 | $ | (12.1 | ) | $ | 74.9 | $ | 133.4 | $ | 2.9 | $ | 136.3 | $ | (6.3 | ) | $ | 11.6 | $ | 5.3 | $ | (14.7 | ) | $ | 8.4 | $ | (6.3 | ) | ||||||||||||
Earnings (loss) per common share attributable to UGI Corporation stockholders: | ||||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.78 | $ | 0.67 | $ | 1.19 | $ | 1.21 | $ | (0.06 | ) | $ | 0.05 | $ | (0.13 | ) | $ | (0.06 | ) | |||||||||||||||||||||
Diluted | $ | 0.77 | $ | 0.66 | $ | 1.18 | $ | 1.2 | $ | (0.06 | ) | $ | 0.05 | $ | (0.13 | ) | $ | (0.06 | ) | |||||||||||||||||||||
Average common shares outstanding (thousands): | ||||||||||||||||||||||||||||||||||||||||
Basic | 112,240 | 112,240 | 112,510 | 112,510 | 112,726 | 112,726 | 112,868 | 112,868 | ||||||||||||||||||||||||||||||||
Diluted | 113,152 | 113,152 | 113,239 | 113,239 | 112,726 | 113,504 | 112,868 | 112,868 | ||||||||||||||||||||||||||||||||
The impacts of the corrections on the key financial metrics operating income (loss), net income (loss) attributable to UGI Corporation and diluted earnings (loss) per share for each of the relevant quarters in the two years ended September 30, 2013 is are follows: | ||||||||||||||||||||||||||||||||||||||||
Fiscal 2013 | Fiscal 2012 | |||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Mar-13 | 30-Jun-13 | 31-Dec-11 | 31-Mar-12 | 30-Jun-12 | 30-Sep-12 | ||||||||||||||||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 0.7 | $ | 12.5 | $ | (6.9 | ) | (19.3 | ) | 2.2 | 18.5 | 15.5 | ||||||||||||||||||||||||||||
Partnership customer credits | (2.8 | ) | 7 | — | (3.2 | ) | (0.4 | ) | 3.2 | (1.4 | ) | |||||||||||||||||||||||||||||
Other (1) | 0.2 | 2 | (4.7 | ) | (0.4 | ) | 2.4 | 0.7 | (0.5 | ) | ||||||||||||||||||||||||||||||
Total | $ | (1.9 | ) | $ | 21.5 | $ | (11.6 | ) | $ | (22.9 | ) | $ | 4.2 | $ | 22.4 | $ | 13.6 | |||||||||||||||||||||||
Net income (loss) attributable to UGI Corporation: | ||||||||||||||||||||||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 0.4 | $ | 7.3 | $ | (4.1 | ) | $ | (11.3 | ) | $ | 1.3 | $ | 10.8 | $ | 9.1 | ||||||||||||||||||||||||
Partnership customer credits | (0.4 | ) | 1.1 | — | (0.8 | ) | (0.1 | ) | 0.5 | (0.2 | ) | |||||||||||||||||||||||||||||
Other (1) | (0.1 | ) | 0.4 | (1.5 | ) | — | 1.7 | 0.3 | (0.5 | ) | ||||||||||||||||||||||||||||||
Total | $ | (0.1 | ) | $ | 8.8 | $ | (5.6 | ) | $ | (12.1 | ) | $ | 2.9 | $ | 11.6 | $ | 8.4 | |||||||||||||||||||||||
Diluted earnings (loss) per share attributable to UGI Corporation stockholders: | ||||||||||||||||||||||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | — | $ | 0.06 | $ | (0.04 | ) | $ | (0.10 | ) | $ | 0.01 | $ | 0.1 | $ | 0.08 | ||||||||||||||||||||||||
Partnership customer credits | — | 0.01 | — | (0.01 | ) | — | — | — | ||||||||||||||||||||||||||||||||
Other (1) | — | 0.01 | (0.01 | ) | — | 0.02 | — | (0.01 | ) | |||||||||||||||||||||||||||||||
Total | $ | — | $ | 0.08 | $ | (0.05 | ) | $ | (0.11 | ) | $ | 0.03 | $ | 0.1 | $ | 0.07 | ||||||||||||||||||||||||
(1) Other adjustments principally relate to the timing of certain expense and income accruals. Other diluted earnings (loss) per share attributable to UGI Corporation stockholders also includes the impact of rounding. | ||||||||||||||||||||||||||||||||||||||||
The adjustments reflected in the tables above did not affect cash flows from operating activities, investing activities or financing activities for any of the quarterly periods. In addition, the adjustments above relating to the Midstream & Marketing hedge accounting did not affect total stockholders’ equity as these adjustments resulted in changes to accumulated other comprehensive income and retained earnings in equal and offsetting amounts. In addition, the adjustments related to Midstream & Marketing hedge accounting had no effect on consolidated assets and liabilities. The Partnership customer credits and other adjustments did not have a material effect on the consolidated balance sheets for all periods presented. | ||||||||||||||||||||||||||||||||||||||||
(a) | Includes impairment loss on private equity partnership investment which increased operating loss by $6.3 and net loss attributable to UGI Corporation by $3.7 or $0.03 per share (see Note 2). | |||||||||||||||||||||||||||||||||||||||
(b) | Includes adjustment to foreign tax credit valuation allowance which increased net income by $5.5 or $0.05 per diluted share (see Note 7). | |||||||||||||||||||||||||||||||||||||||
(c) | Includes loss on extinguishment of Partnership long-term debt which decreased net income attributable to UGI Corporation by $2.2 or $0.02 per diluted share (see Note 6). |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||||||||||||
Our operations comprise six reportable segments generally based upon products sold, geographic location and regulatory environment. Our reportable segments comprise: (1) AmeriGas Propane; (2) an international LPG segment comprising Antargaz; (3) an international LPG segment principally comprising Flaga and AvantiGas; (4) Gas Utility; (5) Energy Services; and (6) Electric Generation. We refer to both international segments together as “UGI International” and Energy Services and Electric Generation together as “Midstream & Marketing.” | ||||||||||||||||||||||||||||||||||||
AmeriGas Propane derives its revenues principally from the sale of propane and related equipment and supplies to retail customers in all 50 states. Antargaz’ revenues are derived principally from the distribution of LPG to retail customers in France and, to a much lesser extent, Belgium, the Netherlands and Luxembourg. Flaga & Other revenues are derived principally from the distribution of LPG to customers in northern, central and eastern Europe and the United Kingdom. Gas Utility’s revenues are derived principally from the sale and distribution of natural gas to customers in eastern, northeastern and central Pennsylvania. Energy Services revenues are derived from the sale of natural gas and, to a lesser extent, LPG, electricity and fuel oil as well as storage and other energy services to customers located primarily in the Mid-Atlantic region of the United States. Electric Generation revenues are derived principally from the sale of electricity through PJM, a regional electricity transmission organization in the eastern U.S. | ||||||||||||||||||||||||||||||||||||
The accounting policies of our reportable segments are the same as those described in Note 2. We evaluate AmeriGas Propane’s performance principally based upon the Partnership’s earnings before interest expense, income taxes, depreciation and amortization (“Partnership EBITDA”). Although we use Partnership EBITDA to evaluate AmeriGas Propane’s profitability, it should not be considered as an alternative to net income (as an indicator of operating performance) or as an alternative to cash flow (as a measure of liquidity or ability to service debt obligations) and is not a measure of performance or financial condition under GAAP. Our definition of Partnership EBITDA may be different from that used by other companies. We evaluate the performance of our other reportable segments principally based upon their income before income taxes. | ||||||||||||||||||||||||||||||||||||
No single customer represents more than ten percent of our consolidated revenues. In addition, all of our reportable segments’ revenues, other than those of UGI International, are derived from sources within the United States, and all of our reportable segments’ long-lived assets, other than those of UGI International, are located in the United States. | ||||||||||||||||||||||||||||||||||||
Midstream & Marketing | UGI International | |||||||||||||||||||||||||||||||||||
Total | Elim- | AmeriGas | Gas Utility | Energy Services | Electric Generation | Antargaz | Flaga & | Corporate & | ||||||||||||||||||||||||||||
inations | Propane | Other | Other (b) | |||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Revenues | $ | 7,194.70 | $ | (223.8 | ) | (c) | $ | 3,168.80 | $ | 839 | $ | 969.4 | $ | 71.4 | $ | 1,322.60 | $ | 856.6 | $ | 190.7 | ||||||||||||||||
Cost of sales | $ | 4,324.40 | $ | (217.5 | ) | (c) | $ | 1,657.20 | $ | 407.2 | $ | 836.9 | $ | 39.9 | $ | 845 | $ | 653.4 | $ | 102.3 | ||||||||||||||||
Operating income | $ | 831.1 | $ | (1.1 | ) | $ | 394.4 | $ | 196.5 | $ | 82.5 | $ | 7.5 | $ | 111.4 | $ | 35.6 | $ | 4.3 | |||||||||||||||||
Loss from equity investees | $ | (0.4 | ) | — | — | — | — | — | (0.4 | ) | — | — | ||||||||||||||||||||||||
Interest expense | $ | (240.3 | ) | — | (166.6 | ) | (37.4 | ) | (3.2 | ) | — | (25.3 | ) | (5.1 | ) | (2.7 | ) | |||||||||||||||||||
Income before income taxes | $ | 590.4 | $ | (1.1 | ) | $ | 227.8 | $ | 159.1 | $ | 79.3 | $ | 7.5 | $ | 85.7 | $ | 30.5 | $ | 1.6 | |||||||||||||||||
Net income attributable to UGI | $ | 278.1 | $ | (0.6 | ) | $ | 47.5 | $ | 94.3 | $ | 46.3 | $ | 6.2 | $ | 57.2 | $ | 25.5 | $ | 1.7 | |||||||||||||||||
Depreciation and amortization | $ | 363.1 | $ | — | $ | 205.9 | $ | 51.7 | $ | 7.6 | $ | 10 | $ | 57.6 | $ | 24.1 | $ | 6.2 | ||||||||||||||||||
Noncontrolling interests’ net income (loss) | $ | 149.5 | $ | — | $ | 149.6 | $ | — | $ | — | $ | — | $ | (0.2 | ) | $ | 0.1 | $ | — | |||||||||||||||||
Partnership EBITDA (a) | $ | 596.5 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 10,008.80 | $ | (100.3 | ) | $ | 4,429.30 | $ | 2,069.00 | $ | 501.2 | $ | 269.7 | $ | 1,784.40 | $ | 667.1 | $ | 388.4 | |||||||||||||||||
Bank loans | $ | 227.9 | $ | — | $ | 116.9 | $ | 17.5 | $ | 87 | $ | — | $ | — | $ | 6.5 | $ | — | ||||||||||||||||||
Capital expenditures | $ | 489.1 | $ | (1.1 | ) | $ | 111.1 | $ | 144.4 | $ | 133.8 | $ | 22.6 | $ | 53.4 | $ | 17.4 | $ | 7.5 | |||||||||||||||||
Investments in equity investees | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||
Goodwill | $ | 2,873.70 | $ | — | $ | 1,941.00 | $ | 182.1 | $ | 2.8 | $ | — | $ | 643.7 | $ | 97.1 | $ | 7 | ||||||||||||||||||
Midstream & Marketing | UGI International | |||||||||||||||||||||||||||||||||||
Total | Elim- | AmeriGas | Gas Utility | Energy Services | Electric Generation | Antargaz | Flaga & | Corporate & | ||||||||||||||||||||||||||||
inations | Propane | Other | Other (b) | |||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||
Revenues | $ | 6,521.30 | $ | (178.8 | ) | (c) | $ | 2,921.50 | $ | 785.4 | $ | 816.4 | $ | 43.9 | $ | 1,121.40 | $ | 824.7 | $ | 186.8 | ||||||||||||||||
Cost of sales | $ | 4,099.10 | $ | (174.0 | ) | (c) | $ | 1,722.40 | $ | 402.5 | $ | 701.9 | $ | 28 | $ | 685.5 | $ | 640.3 | $ | 92.5 | ||||||||||||||||
Operating income (loss) | $ | 538.6 | $ | — | $ | 168.7 | $ | 174.1 | $ | 70.8 | $ | (6.5 | ) | $ | 88.3 | $ | 23.6 | $ | 19.6 | |||||||||||||||||
Loss from equity investees | $ | (0.3 | ) | — | — | — | — | — | (0.3 | ) | — | — | ||||||||||||||||||||||||
Loss on extinguishments of debt | $ | (13.3 | ) | — | (13.3 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||
Interest expense | $ | (220.4 | ) | — | (141.5 | ) | (40.1 | ) | (4.8 | ) | — | (26.3 | ) | (4.6 | ) | (3.1 | ) | |||||||||||||||||||
Income (loss) before income taxes | $ | 304.6 | $ | — | $ | 13.9 | $ | 134 | $ | 66 | $ | (6.5 | ) | $ | 61.7 | $ | 19 | $ | 16.5 | |||||||||||||||||
Net income (loss) attributable to UGI | $ | 210.2 | $ | — | $ | 15.4 | $ | 81.6 | $ | 38.7 | $ | (1.0 | ) | $ | 51.4 | $ | 13.8 | $ | 10.3 | |||||||||||||||||
Depreciation and amortization | $ | 315 | $ | — | $ | 168.1 | $ | 49 | $ | 3.7 | $ | 9 | $ | 57.1 | $ | 22.1 | $ | 6 | ||||||||||||||||||
Noncontrolling interests’ net (loss) income | $ | (12.5 | ) | $ | — | $ | (12.7 | ) | $ | — | $ | — | $ | — | $ | 0.2 | $ | — | $ | — | ||||||||||||||||
Partnership EBITDA (a) | $ | 322.1 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 9,676.90 | $ | (104.1 | ) | $ | 4,533.80 | $ | 2,045.50 | $ | 368.5 | $ | 258.2 | $ | 1,686.50 | $ | 531.8 | $ | 356.7 | |||||||||||||||||
Bank loans | $ | 165.1 | $ | — | $ | 49.9 | $ | 9.2 | $ | 85 | $ | — | $ | — | $ | 21 | $ | — | ||||||||||||||||||
Capital expenditures | $ | 343.2 | $ | — | $ | 103.1 | $ | 109 | $ | 36 | $ | 24.4 | $ | 47.3 | $ | 16.9 | $ | 6.5 | ||||||||||||||||||
Investments in equity investees | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||
Goodwill | $ | 2,818.30 | $ | — | $ | 1,919.20 | $ | 182.1 | $ | 2.8 | $ | — | $ | 612 | $ | 95.2 | $ | 7 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||
Revenues | $ | 6,090.90 | $ | (233.0 | ) | (c) | $ | 2,538.20 | $ | 1,026.40 | $ | 1,023.80 | $ | 48.6 | $ | 1,050.60 | $ | 438.1 | $ | 198.2 | ||||||||||||||||
Cost of sales | $ | 3,982.70 | $ | (228.6 | ) | (c) | $ | 1,605.40 | $ | 610.6 | $ | 904.5 | $ | 30.4 | $ | 649.8 | $ | 321 | $ | 89.6 | ||||||||||||||||
Operating income (loss) | $ | 642.4 | $ | — | $ | 241.6 | $ | 199.6 | $ | 81.9 | $ | (1.1 | ) | $ | 89.2 | $ | (3.1 | ) | $ | 34.3 | ||||||||||||||||
Loss from equity investees | $ | (0.9 | ) | — | — | — | — | — | (0.9 | ) | — | — | ||||||||||||||||||||||||
Loss on extinguishments of debt | $ | (38.1 | ) | — | (38.1 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||
Interest expense | $ | (138.0 | ) | — | (63.5 | ) | (40.4 | ) | (2.0 | ) | (0.7 | ) | (25.5 | ) | (2.7 | ) | (3.2 | ) | ||||||||||||||||||
Income (loss) before income taxes | $ | 465.4 | $ | — | $ | 140 | $ | 159.2 | $ | 79.9 | $ | (1.8 | ) | $ | 62.8 | $ | (5.8 | ) | $ | 31.1 | ||||||||||||||||
Net income attributable to UGI | $ | 245.4 | $ | — | $ | 39.5 | $ | 99.3 | $ | 47.1 | $ | 0.9 | $ | 44.2 | $ | (3.2 | ) | $ | 17.6 | |||||||||||||||||
Depreciation and amortization | $ | 227.7 | $ | — | $ | 94.5 | $ | 48.4 | $ | 2.4 | $ | 5.6 | $ | 52.1 | $ | 18.5 | $ | 6.2 | ||||||||||||||||||
Noncontrolling interests’ net income | $ | 74.6 | $ | — | $ | 74.3 | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | $ | — | ||||||||||||||||||
Partnership EBITDA (a) | $ | 295.6 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 6,660.90 | $ | (93.3 | ) | $ | 1,798.00 | $ | 2,028.70 | $ | 338.2 | $ | 242.5 | $ | 1,636.60 | $ | 428.8 | $ | 281.4 | |||||||||||||||||
Bank loans | $ | 138.7 | $ | — | $ | 95.5 | $ | — | $ | 24.3 | $ | — | $ | — | $ | 18.9 | $ | — | ||||||||||||||||||
Capital expenditures | $ | 355.6 | $ | — | $ | 77.2 | $ | 91.3 | $ | 63.1 | $ | 49.7 | $ | 48.9 | $ | 16.5 | $ | 8.9 | ||||||||||||||||||
Investments in equity investees | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||
Goodwill | $ | 1,562.20 | $ | — | $ | 696.3 | $ | 182.1 | $ | 2.8 | $ | — | $ | 591.8 | $ | 82.2 | $ | 7 | ||||||||||||||||||
(a) | The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income: | |||||||||||||||||||||||||||||||||||
Year ended September 30, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Partnership EBITDA | $ | 596.5 | $ | 322.1 | $ | 295.6 | ||||||||||||||||||||||||||||||
Depreciation and amortization | (205.9 | ) | (168.1 | ) | (94.5 | ) | ||||||||||||||||||||||||||||||
Loss on extinguishments of debt | — | 13.3 | 38.1 | |||||||||||||||||||||||||||||||||
Noncontrolling interests (i) | 3.8 | 1.4 | 2.4 | |||||||||||||||||||||||||||||||||
Operating income | $ | 394.4 | $ | 168.7 | $ | 241.6 | ||||||||||||||||||||||||||||||
(i) | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP. | |||||||||||||||||||||||||||||||||||
(b) | Corporate & Other results principally comprise (1) Electric Utility, (2) Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVAC”), (3) changes in the fair values of Midstream & Marketing’s unsettled commodity derivative instruments and gains and losses on settled commodity derivative instruments not associated with current period transactions, (4) net expenses of UGI’s captive general liability insurance company, and (5) UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC, and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation. | |||||||||||||||||||||||||||||||||||
(c) | Represents the elimination of intersegment transactions principally among Midstream & Marketing, Gas Utility and AmeriGas Propane. |
Condensed_Financial_Informatio
Condensed Financial Information of Registrant (Parent Company) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||
Condensed Financial Information of Registrant (Parent Company) | ' | |||||||||||
BALANCE SHEETS | ||||||||||||
(Millions of dollars) | ||||||||||||
September 30, | ||||||||||||
2013 | 2012(a) | |||||||||||
ASSETS | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | $ | 0.9 | $ | 1.9 | ||||||||
Accounts and notes receivable | 2.9 | 4 | ||||||||||
Deferred income taxes | 0.4 | 0.4 | ||||||||||
Prepaid expenses and other current assets | 0.3 | 0.3 | ||||||||||
Total current assets | 4.5 | 6.6 | ||||||||||
Investments in subsidiaries | 2,488.70 | 2,241.10 | ||||||||||
Other assets | 49.9 | 28.3 | ||||||||||
Total assets | $ | 2,543.10 | $ | 2,276.00 | ||||||||
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY | ||||||||||||
Current liabilities: | ||||||||||||
Accounts and notes payable | $ | 11 | $ | 11.1 | ||||||||
Derivative financial instruments | — | — | ||||||||||
Accrued liabilities | 3.9 | 2.4 | ||||||||||
Total current liabilities | 14.9 | 13.5 | ||||||||||
Noncurrent liabilities | 35.7 | 32.7 | ||||||||||
Commitments and contingencies (Note 1) | ||||||||||||
Common stockholders’ equity: | ||||||||||||
Common Stock, without par value (authorized - 300,000,000 shares; issued - 115,783,794 and 115,624,594 shares, respectively) | 1,208.10 | 1,157.70 | ||||||||||
Retained earnings | 1,308.30 | 1,156.00 | ||||||||||
Accumulated other comprehensive income (loss) | 8.4 | (55.2 | ) | |||||||||
Treasury stock, at cost | (32.3 | ) | (28.7 | ) | ||||||||
Total common stockholders’ equity | 2,492.50 | 2,229.80 | ||||||||||
Total liabilities and common stockholders’ equity | $ | 2,543.10 | $ | 2,276.00 | ||||||||
(a) Investments in subsidiaries and common stockholder’s equity have been revised to reflect the effects of corrections to consolidated financial statements (see Note 3 to Consolidated Financial Statements). | ||||||||||||
Note 1 — Commitments and Contingencies: | ||||||||||||
In addition to the guarantees of Flaga’s and Antargaz’ debt as described in Note 6 to Consolidated Financial Statements, at September 30, 2013, UGI Corporation had agreed to indemnify the issuers of $52.5 of surety bonds issued on behalf of certain UGI subsidiaries. UGI Corporation is authorized to guarantee up to $425.0 of obligations to suppliers and customers of UGI Energy Services, Inc. and subsidiaries of which $368.6 of such obligations were outstanding as of September 30, 2013. UGI Corporation has guaranteed the floating to fixed rate interest rate swaps at Flaga which obligations totaled $4.3 at September 30, 2013. | ||||||||||||
STATEMENTS OF INCOME | ||||||||||||
(Millions of dollars, except per share amounts) | ||||||||||||
Year Ended | ||||||||||||
September 30, | ||||||||||||
2013 | 2012(a) | 2011(a) | ||||||||||
Revenues | $ | — | $ | — | $ | — | ||||||
Costs and expenses: | ||||||||||||
Operating and administrative expenses | 36.9 | 27.8 | 31 | |||||||||
Other income, net (1) | (36.7 | ) | (28.1 | ) | (24.8 | ) | ||||||
0.2 | (0.3 | ) | 6.2 | |||||||||
Operating (loss) income | (0.2 | ) | 0.3 | (6.2 | ) | |||||||
Intercompany interest income | 0.2 | 0.2 | 0.1 | |||||||||
Income (loss) before income taxes | — | 0.5 | (6.1 | ) | ||||||||
Income tax expense (benefit) | 3.1 | 0.3 | (1.1 | ) | ||||||||
(Loss) income before equity in income of unconsolidated subsidiaries | (3.1 | ) | 0.2 | (5.0 | ) | |||||||
Equity in income of unconsolidated subsidiaries | 281.2 | 210 | 250.4 | |||||||||
Net income | $ | 278.1 | $ | 210.2 | $ | 245.4 | ||||||
Earnings per common share: | ||||||||||||
Basic | $ | 2.44 | $ | 1.87 | $ | 2.2 | ||||||
Diluted | $ | 2.41 | $ | 1.85 | $ | 2.17 | ||||||
Average common shares outstanding (thousands): | ||||||||||||
Basic | 113,923 | 112,581 | 111,674 | |||||||||
Diluted | 115,521 | 113,432 | 112,944 | |||||||||
(a) Equity in income of unconsolidated subsidiaries have been revised to reflect the effects of corrections to consolidated financial statements (see Note 3 to Consolidated Financial Statements). | ||||||||||||
-1 | UGI provides certain financial and administrative services to certain of its subsidiaries. UGI bills these subsidiaries monthly for all direct expenses incurred by UGI on behalf of its subsidiaries as well as allocated shares of indirect corporate expense incurred or paid with respect to services provided by UGI. The allocation of indirect UGI corporate expenses to certain of its subsidiaries utilizes a weighted, three-component formula comprising revenues, operating expenses, and net assets employed and considers the relative percentage of such items for each subsidiary to the total of such items for all UGI operating subsidiaries for which general and administrative services are provided. Management believes that this allocation method is reasonable and equitable to its subsidiaries. These billed expenses are classified as “Other income, net” in the Statements of Income above. | |||||||||||
STATEMENTS OF CASH FLOWS | ||||||||||||
(Millions of dollars) | ||||||||||||
Year Ended | ||||||||||||
September 30, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES (a) | $ | 139.4 | $ | 158.3 | $ | 201.6 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
Net investments in unconsolidated subsidiaries | (59.1 | ) | (54.4 | ) | (119.4 | ) | ||||||
Net cash used by investing activities | (59.1 | ) | (54.4 | ) | (119.4 | ) | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Payment of dividends on Common Stock | (125.8 | ) | (119.1 | ) | (113.8 | ) | ||||||
Issuance of Common Stock | 44.5 | 16.7 | 31 | |||||||||
Net cash used by financing activities | (81.3 | ) | (102.4 | ) | (82.8 | ) | ||||||
Cash and cash equivalents (decrease) increase | $ | (1.0 | ) | $ | 1.5 | $ | (0.6 | ) | ||||
Cash and cash equivalents: | ||||||||||||
End of year | $ | 0.9 | $ | 1.9 | $ | 0.4 | ||||||
Beginning of year | 1.9 | 0.4 | 1 | |||||||||
(Decrease) increase | $ | (1.0 | ) | $ | 1.5 | $ | (0.6 | ) | ||||
(a) | Includes dividends received from unconsolidated subsidiaries of $155.2, $156.0 and $188.9, for the years ended September 30, 2013, 2012 and 2011, respectively. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Valuation and Qualifying Accounts | ' | ||||||||||||||||
Balance at | Charged | Other | Balance at | ||||||||||||||
beginning | (credited) | end of | |||||||||||||||
of year | to costs and | year | |||||||||||||||
expenses | |||||||||||||||||
Year Ended September 30, 2013 | |||||||||||||||||
Reserves deducted from assets in the consolidated balance sheet: | |||||||||||||||||
Allowance for doubtful accounts | $ | 36.1 | $ | 30.2 | $ | (26.8 | ) | -1 | $ | 39.5 | |||||||
Other reserves: | |||||||||||||||||
Deferred tax assets valuation allowance | $ | 77 | $ | (5.7 | ) | 26.3 | -2 | $ | 97.6 | ||||||||
Year Ended September 30, 2012 | |||||||||||||||||
Reserves deducted from assets in the consolidated balance sheet: | |||||||||||||||||
Allowance for doubtful accounts | $ | 36.8 | $ | 26.5 | $ | (27.2 | ) | -1 | $ | 36.1 | |||||||
Other reserves: | |||||||||||||||||
Deferred tax assets valuation allowance | $ | 78.2 | $ | (4.0 | ) | 2.8 | -3 | $ | 77 | ||||||||
Year Ended September 30, 2011 | |||||||||||||||||
Reserves deducted from assets in the consolidated balance sheet: | |||||||||||||||||
Allowance for doubtful accounts | $ | 34.6 | $ | 20 | $ | (17.8 | ) | -1 | $ | 36.8 | |||||||
Other reserves: | |||||||||||||||||
Deferred tax assets valuation allowance | $ | 74.7 | $ | 3.5 | $ | — | $ | 78.2 | |||||||||
-1 | Uncollectible accounts written off, net of recoveries. | ||||||||||||||||
-2 | Foreign tax credit valuation allowance adjustment. | ||||||||||||||||
-3 | Acquisition. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation | ' | |
Basis of Presentation | ||
Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). | ||
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and costs. These estimates are based on management’s knowledge of current events, historical experience and various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may be different from these estimates and assumptions. | ||
Certain prior-year amounts have been reclassified to conform to the current-year presentation. | ||
Principles of Consolidation | ' | |
Principles of Consolidation | ||
The consolidated financial statements include the accounts of UGI and its controlled subsidiary companies which, except for the Partnership, are majority owned. We report the general public’s and ETP’s interests in the Partnership, and outside ownership interests in other consolidated but less than 100%-owned subsidiaries, as noncontrolling interests. We eliminate all significant intercompany accounts and transactions when we consolidate. Entities in which we do not have control but have significant influence over operating and financial policies are accounted for by the equity method. Undistributed net earnings of our equity investees included in consolidated retained earnings were not material at September 30, 2013. Investments in business entities that are not publicly traded and in which we hold less than 20% of voting rights are accounted for using the cost method. Such investments are recorded in other assets and totaled $82.0 and $80.0 at September 30, 2013 and 2012, respectively (including $16.4 and $20.0, respectively, associated with our approximate 3.5% interest in a private equity partnership that invests in renewable energy companies). Undivided interests in natural gas production assets and an electricity generation facility are consolidated on a proportionate basis. | ||
Effects of Regulation | ' | |
Effects of Regulation | ||
UGI Utilities accounts for the financial effects of regulation in accordance with the Financial Accounting Standards Board’s (“FASB’s”) guidance in Accounting Standards Codification (“ASC”) 980 related to regulated entities whose rates are designed to recover the costs of providing service. In accordance with this guidance, incurred costs and estimated future expenditures that would otherwise be charged to expense are capitalized and recorded as regulatory assets when it is probable that the incurred costs or estimated future expenditures will be recovered in rates in the future. Similarly, we recognize regulatory liabilities when it is probable that regulators will require customer refunds through future rates or when revenue is collected from customers for expenditures that have not yet been incurred. Generally, regulatory assets are amortized into expense and regulatory liabilities are amortized into income over the period authorized by the regulator. | ||
For additional information regarding the effects of rate regulation on our utility operations, see Note 9. | ||
Fair Value Measurements | ' | |
Fair Value Measurements | ||
We apply fair value measurements on a recurring basis to certain assets and liabilities, principally our commodity, foreign currency and interest rate derivative instruments. Assets that are not measured at fair value on a recurring basis but are subject to fair value measurements under certain circumstances principally comprise our cost and equity method investments and long-lived assets that are written down to fair value when they are impaired. Fair value in GAAP is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and risks inherent in valuation techniques and inputs to valuations. This includes not only the credit standing of counterparties and credit enhancements but also the impact of our own nonperformance risk on our liabilities. Fair value measurements require that we assume that the transaction occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability (the market for which the reporting entity would be able to maximize the amount received or minimize the amount paid). We evaluate the need for credit adjustments to our derivative instrument fair values in accordance with the requirements noted above. Such adjustments were not material to the fair values of our derivative instruments. | ||
We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: | ||
• | Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access at the measurement date. Instruments categorized in Level 1 consist of our exchange-traded commodity futures and option contracts and non exchange-traded commodity futures and non exchange-traded electricity forward contracts whose underlying is identical to an exchange-traded contract. | |
• | Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include non-exchange traded derivatives such as over the counter commodity price swap and option contracts, interest rate swaps and interest rate protection agreements, foreign currency forward contracts, financial transmission rights (“FTRs”) and non exchange-traded electricity forward and capacity swap contracts that do not qualify for Level 1. | |
• | Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. We did not have any derivative financial instruments categorized as Level 3 at September 30, 2013 or 2012. | |
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. See Note 17 for additional information on fair value measurements. | ||
Derivative Instruments | ' | |
Derivative Instruments | ||
We account for derivative instruments and hedging activities in accordance with guidance provided by the FASB which requires that all derivative instruments, whether designated in hedging relationships or not, be recognized as either assets or liabilities and measured at fair value unless the derivative instruments qualify for the normal purchase and sale exemption under GAAP. The accounting for changes in fair value depends upon the purpose of the derivative instrument and whether it is designated and qualifies for hedge accounting. | ||
A substantial portion of our derivative financial instruments other than commodity derivative instruments at Midstream & Marketing are designated and qualify as cash flow hedges or net investment hedges. Substantially all of Midstream & Marketing’s commodity derivative instruments are not designated as cash flow hedges. These derivative instruments are recorded at fair value with changes in fair value reflected in income. In addition, unrealized gains and losses on certain derivative financial instruments used by Gas Utility and Electric Utility are included in regulatory assets or liabilities in accordance with FASB guidance regarding accounting for rate-regulated entities. | ||
For cash flow hedges, changes in the fair value of the derivative financial instruments are recorded in accumulated other comprehensive income (“AOCI”) or noncontrolling interests, to the extent effective at offsetting changes in the hedged item, until earnings are affected by the hedged item. We discontinue cash flow hedge accounting if the occurrence of the forecasted transaction is determined to be no longer probable. Gains and losses on net investment hedges which relate to our foreign operations are included in AOCI until such foreign net investment is sold or liquidated. Changes in the fair values of Midstream & Marketing’s commodity derivative instruments, along with those of certain of our other businesses’ derivative financial instruments, do not qualify for, or are not designated as, cash flow hedges. Changes in the fair values of these derivative instruments are generally reflected in cost of sales or revenues, as appropriate, on the Consolidated Statements of Income. Cash flows from derivative financial instruments, other than net investment hedges, are included in cash flows from operating activities. Cash flows from net investment hedges are included in cash flows from investing activities. | ||
For a more detailed description of the derivative instruments we use, our accounting for derivatives, our objectives for using them and other information, see Note 18. | ||
Foreign Currency Translation | ' | |
Foreign Currency Translation | ||
Balance sheets of international subsidiaries are translated into U.S. dollars using the exchange rate at the balance sheet date. Income statements and equity investee results are translated into U.S. dollars using an average exchange rate for each reporting period. Where the local currency is the functional currency, translation adjustments are recorded in other comprehensive income. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
Revenues from the sale of LPG are recognized principally upon delivery. Midstream & Marketing records revenues when energy products are delivered or services are provided to customers. Revenues from the sale of appliances and equipment are recognized at the later of sale or installation. Revenues from repair or maintenance services are recognized upon completion of services. | ||
UGI Utilities’ regulated revenues are recognized as natural gas and electricity are delivered and include estimated amounts for distribution service and commodities rendered but not billed at the end of each month. We reflect the impact of Gas Utility and Electric Utility rate increases or decreases at the time they become effective. | ||
We present revenue-related taxes collected from customers and remitted to taxing authorities, principally sales and use taxes, on a net basis. Electric Utility gross receipts taxes are included in total revenues in accordance with regulatory practice. | ||
LPG Delivery Expenses | ' | |
LPG Delivery Expenses | ||
Expenses associated with the delivery of LPG to customers of the Partnership and our UGI International operations (including vehicle expenses, expenses of delivery personnel, vehicle repair and maintenance and general liability expenses) are classified as operating and administrative expenses on the Consolidated Statements of Income. Depreciation expense associated with the Partnership and UGI International delivery vehicles is classified in depreciation on the Consolidated Statements of Income. | ||
Income Taxes | ' | |
Income Taxes | ||
AmeriGas Partners and the Operating Partnerships are not directly subject to federal income taxes. Instead, their taxable income or loss is allocated to the individual partners. We record income taxes on (1) our share of the Partnership’s current taxable income or loss and (2) the differences between the book and tax basis of our investment in the Partnership. The Operating Partnership has subsidiaries which operate in corporate form and are directly subject to federal and state income taxes. Legislation in certain states allows for taxation of partnership income and the accompanying financial statements reflect state income taxes resulting from such legislation. | ||
Gas Utility and Electric Utility record deferred income taxes in the Consolidated Statements of Income resulting from the use of accelerated tax depreciation methods based upon amounts recognized for ratemaking purposes. They also record a deferred income tax liability for tax benefits, principally the result of accelerated tax depreciation for state income tax purposes, that are flowed through to ratepayers when temporary differences originate and record a regulatory income tax asset for the probable increase in future revenues that will result when the temporary differences reverse. | ||
We are amortizing deferred investment tax credits related to UGI Utilities’ plant additions over the service lives of the related property. UGI Utilities reduces its deferred income tax liability for the future tax benefits that will occur when investment tax credits, which are not taxable, are amortized. We also reduce the regulatory income tax asset for the probable reduction in future revenues that will result when such deferred investment tax credits amortize. Investment tax credits associated with Midstream & Marketing’s qualifying solar energy property under the Emergency Economic Stabilization Act of 2008 are reflected in income taxes for assets placed in service after Fiscal 2011 and are amortized over the estimated useful life of the property for assets placed in service prior to Fiscal 2012. | ||
We record interest on tax deficiencies and income tax penalties in income taxes on the Consolidated Statements of Income. No amounts were recorded for interest in Fiscal 2013. For Fiscal 2012 and Fiscal 2011, interest (income) expense of $(0.1) and $0.2, respectively, was recognized in income taxes on the Consolidated Statements of Income. | ||
Earnings Per Common Share | ' | |
Earnings Per Common Share | ||
Basic earnings per share attributable to UGI Corporation stockholders reflect the weighted-average number of common shares outstanding. Diluted earnings per share include the effects of dilutive stock options and common stock awards. | ||
Comprehensive Income | ' | |
Comprehensive Income | ||
Comprehensive income comprises net income and other comprehensive income (loss). Other comprehensive income (loss) principally results from gains and losses on derivative instruments qualifying as cash flow hedges, actuarial gains and losses on postretirement benefit plans and foreign currency translation adjustments and foreign currency long-term intra-company transactions. | ||
Cash and Cash Equivalents | ' | |
Cash and Cash Equivalents | ||
All highly liquid investments with maturities of three months or less when purchased are classified as cash equivalents. | ||
Restricted Cash | ' | |
Restricted Cash | ||
Restricted cash principally represents those cash balances in our commodity futures and option brokerage accounts which are restricted from withdrawal. | ||
Inventories | ' | |
Inventories | ||
Our inventories are stated at the lower of cost or market. We determine cost using an average cost method for natural gas, propane and other LPG; specific identification for appliances; and the first-in, first-out (“FIFO”) method for all other inventories. | ||
Property, Plant and Equipment and Related Depreciation | ' | |
Property, Plant and Equipment and Related Depreciation | ||
We record property, plant and equipment at original cost. The amounts assigned to property, plant and equipment of acquired businesses are based upon estimated fair value at date of acquisition. | ||
We record depreciation expense on non-utility plant and equipment on a straight-line basis over estimated economic useful lives ranging from 15 to 40 years for buildings and improvements; 7 to 40 years for storage and customer tanks and cylinders; 25 to 35 years for electricity generation facilities; and 2 to 12 years for vehicles, equipment and office furniture and fixtures. Costs to install Partnership and Antargaz-owned tanks, net of amounts billed to customers, are capitalized and amortized over the estimated period of benefit not exceeding ten years. | ||
We record depreciation expense for Utilities’ plant and equipment on a straight-line basis over the estimated average remaining lives of the various classes of its depreciable property. Depreciation expense as a percentage of the related average depreciable base for Gas Utility was 2.3% in Fiscal 2013, 2.2% in Fiscal 2012 and 2.3% in Fiscal 2011. Depreciation expense as a percentage of the related average depreciable base for Electric Utility was 2.4% in Fiscal 2013, 2.4% in Fiscal 2012 and 2.6% in Fiscal 2011. When Utilities retires depreciable utility plant and equipment, we charge the original cost to accumulated depreciation for financial accounting purposes. | ||
We include in property, plant and equipment costs associated with computer software we develop or obtain for use in our businesses. We amortize computer software costs on a straight-line basis over expected periods of benefit not exceeding fifteen years once the installed software is ready for its intended use. | ||
No depreciation expense is included in cost of sales in the Consolidated Statements of Income. | ||
Goodwill and Intangible Assets | ' | |
Goodwill and Intangible Assets | ||
In accordance with GAAP relating to intangible assets, we amortize intangible assets over their estimated useful lives unless we determine their lives to be indefinite. We review identifiable intangible assets subject to amortization for impairment whenever events or changes in circumstances indicate that the associated carrying amounts may not be recoverable. Determining whether an impairment loss occurred requires comparing the carrying amount to the sum of undiscounted cash flows expected to be generated by the asset. Intangible assets with indefinite lives are not amortized but are tested annually for impairment and written down to fair value as required. | ||
We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (a component) if discrete financial information is prepared and regularly reviewed by segment management. Components are aggregated as a single reporting unit if they have similar economic characteristics. We are required to recognize an impairment charge under GAAP if the carrying amount of a reporting unit exceeds its fair value and the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill. For certain of our reporting units with goodwill, we assess qualitative factors to determine whether it is more likely than not that the fair value of such reporting unit is less than its carrying amount. For our other reporting units with goodwill, and for those reporting units for which we are not able, based upon the assessment of qualitative factors, to determine that it is not more likely than not that the fair value of such reporting unit is less than its carrying amount, we determine fair values generally using an income approach unless market values are available. For purposes of the income approach, fair values are determined based upon the present value of estimated future cash flows discounted at an appropriate risk-adjusted rate. | ||
Impairment of Long-Lived Assets | ' | |
Impairment of Long-Lived Assets and Cost Basis Investments | ||
We evaluate the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We evaluate recoverability based upon undiscounted future cash flows expected to be generated by such assets. | ||
Deferred Debt Issuance Costs | ' | |
We are amortizing these costs over the terms of the related debt. | ||
Refundable Tank and Cylinder Deposits | ' | |
Refundable Tank and Cylinder Deposits | ||
Included in other noncurrent liabilities on our Consolidated Balance Sheets are customer paid deposits on Antargaz owned tanks and cylinders of $214.6 and $205.1 at September 30, 2013 and 2012, respectively. Deposits are refundable to customers when the tanks or cylinders are returned in accordance with contract terms. | ||
Environmental Matters | ' | |
Environmental Matters | ||
We are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current or former operating sites. | ||
Environmental reserves are accrued when assessments indicate that it is probable that a liability has been incurred and an amount can reasonably be estimated. Amounts recorded as environmental liabilities on the balance sheets represent our best estimate of costs expected to be incurred or, if no best estimate can be made, the minimum liability associated with a range of expected environmental investigation and remediation costs. Our estimated liability for environmental contamination is reduced to reflect anticipated participation of other responsible parties but is not reduced for possible recovery from insurance carriers. In those instances for which the amount and timing of cash payments associated with environmental investigation and cleanup are reliably determinable, we discount such liabilities to reflect the time value of money. We intend to pursue recovery of incurred costs through all appropriate means, including regulatory relief. UGI Gas is permitted to amortize as removal costs site-specific environmental investigation and remediation costs, net of related third-party payments, associated with Pennsylvania sites. UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of such prudently incurred remediation costs, and CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites. For further information, see Note 16. | ||
Employee Retirement Plans | ' | |
Employee Retirement Plans | ||
We use a market-related value of plan assets and an expected long-term rate of return to determine the expected return on assets of our pension and other postretirement plans. The market-related value of plan assets, other than equity investments, is based upon fair values. The market-related value of equity investments is calculated by rolling forward the prior-year’s market-related value with contributions, disbursements and the expected return on plan assets. One third of the difference between the expected and the actual value is then added to or subtracted from the expected value to determine the new market-related value (see Note 8). | ||
Equity-Based Compensation | ' | |
Equity-Based Compensation | ||
All of our equity-based compensation, principally comprising UGI stock options, grants of UGI stock-based equity instruments and grants of AmeriGas Partners equity instruments (together with UGI stock-based equity instruments, “Units”), are measured at fair value on the grant date, date of modification or end of the period, as applicable. Compensation expense is recognized on a straight-line basis over the requisite service period. Depending upon the settlement terms of the awards, all or a portion of the fair value of equity-based awards may be presented as a liability or as equity in our Consolidated Balance Sheets. Equity-based compensation costs associated with the portion of Unit awards classified as equity are measured based upon their estimated fair value on the date of grant or modification. Equity-based compensation costs associated with the portion of Unit awards classified as liabilities are measured based upon their estimated fair value at the grant date and remeasured as of the end of each period. | ||
We have calculated a tax windfall pool using the shortcut method. We record deferred tax assets for awards that we expect will result in deductions on our income tax returns based on the amount of compensation cost recognized and the statutory tax rate in the jurisdiction in which we will receive a deduction. Differences between the deferred tax assets recognized for financial reporting purposes and the actual tax benefit received on the income tax return are recorded in Common Stock (if the tax benefit exceeds the deferred tax asset) or in the Consolidated Statements of Income (if the deferred tax asset exceeds the tax benefit and no tax windfall pool exists from previous awards). | ||
For additional information on our equity-based compensation plans and related disclosures, see Note 14. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Shares used in computing basic and diluted earnings per share | ' | |||||||||||||||
In the following table, we present shares used in computing basic and diluted earnings per share for Fiscal 2013, Fiscal 2012 and Fiscal 2011: | ||||||||||||||||
(Thousands of shares) | 2013 | 2012 | 2011 | |||||||||||||
Average common shares outstanding for basic computation | 113,923 | 112,581 | 111,674 | |||||||||||||
Incremental shares issuable for stock options and common stock awards (a) | 1,598 | 851 | 1,270 | |||||||||||||
Average common shares outstanding for diluted computation | 115,521 | 113,432 | 112,944 | |||||||||||||
(a) | For Fiscal 2013, Fiscal 2012 and Fiscal 2011, there were approximately 88 shares, 81 shares and 3,700 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive. | |||||||||||||||
Components of AOCI | ' | |||||||||||||||
The components of AOCI at September 30, 2013 and 2012 follow: | ||||||||||||||||
Postretirement | Derivative | Foreign | Total | |||||||||||||
Benefit Plans | Instruments Net | Currency | ||||||||||||||
Losses | Translation | |||||||||||||||
Adjustments | ||||||||||||||||
Balance, September 30, 2013 | $ | (16.4 | ) | $ | (26.9 | ) | $ | 51.7 | $ | 8.4 | ||||||
Balance, September 30, 2012 | $ | (22.9 | ) | $ | (52.0 | ) | $ | 19.7 | $ | (55.2 | ) | |||||
Revisions_and_Restatements_of_1
Revisions and Restatements of Consolidated Financial Statements (Tables) | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Accounting Changes and Error Corrections [Abstract] | ' | |||||||||||||||||||
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | ' | |||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||
30-Sep-12 | ||||||||||||||||||||
As Previously Reported | Adjustment | As Revised | ||||||||||||||||||
Assets: | ||||||||||||||||||||
Accounts receivable | $ | 632.6 | $ | (5.1 | ) | $ | 627.5 | |||||||||||||
Inventories | $ | 356.9 | $ | (2.8 | ) | $ | 354.1 | |||||||||||||
Deferred income taxes | $ | 56.8 | $ | (27.0 | ) | $ | 29.8 | |||||||||||||
Prepaid expenses and other current assets | $ | 98.7 | $ | 0.8 | $ | 99.5 | ||||||||||||||
Non-utility property, plant and equipment | $ | 4,223.40 | $ | 0.5 | $ | 4,223.90 | ||||||||||||||
Accumulated depreciation and amortization | $ | (2,286.0 | ) | $ | 0.8 | $ | (2,285.2 | ) | ||||||||||||
Liabilities and equity: | ||||||||||||||||||||
Accounts payable | $ | 411.3 | $ | (1.4 | ) | $ | 409.9 | |||||||||||||
Employee compensation and benefits accrued | $ | 91.1 | $ | (1.4 | ) | $ | 89.7 | |||||||||||||
Accrued interest | $ | 72.7 | $ | (1.1 | ) | $ | 71.6 | |||||||||||||
Other current liabilities | $ | 226.4 | $ | (0.8 | ) | $ | 225.6 | |||||||||||||
Deferred income taxes | $ | 935 | $ | (29.3 | ) | $ | 905.7 | |||||||||||||
Other noncurrent liabilities | $ | 616.7 | $ | 4.6 | $ | 621.3 | ||||||||||||||
Retained earnings | $ | 1,166.10 | $ | (10.1 | ) | $ | 1,156.00 | |||||||||||||
Accumulated other comprehensive (loss) income | $ | (62.0 | ) | $ | 6.8 | $ | (55.2 | ) | ||||||||||||
Noncontrolling interests, principally in AmeriGas Partners | $ | 1,085.70 | $ | (0.1 | ) | $ | 1,085.60 | |||||||||||||
During the three months ended September 30, 2013, we identified an error in the classification of deferred income tax assets on the September 30, 2012, Consolidated Balance Sheet in the amount of $27.0. The adjustment to correct this error is included in the table above in deferred income taxes (assets) and deferred income taxes (liabilities). | ||||||||||||||||||||
Consolidated Statements of Income | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | |||||||||||||||
Non-utility revenues | $ | 5,636.70 | $ | 2.1 | $ | 5,638.80 | $ | 4,955.80 | $ | (0.4 | ) | $ | 4,955.40 | |||||||
Non-utility cost of sales | $ | 3,652.10 | $ | (12.1 | ) | $ | 3,640.00 | $ | 3,332.40 | $ | (28.2 | ) | $ | 3,304.20 | ||||||
Operating and administrative expenses | $ | 1,591.70 | $ | (0.6 | ) | $ | 1,591.10 | $ | 1,266.40 | $ | 0.6 | $ | 1,267.00 | |||||||
Depreciation | $ | 264.2 | $ | (1.0 | ) | $ | 263.2 | $ | 201.2 | $ | (0.2 | ) | $ | 201 | ||||||
Other income, net | $ | (38.3 | ) | $ | (1.5 | ) | $ | (39.8 | ) | $ | (46.5 | ) | $ | 1 | $ | (45.5 | ) | |||
Operating income | $ | 521.3 | $ | 17.3 | $ | 538.6 | $ | 616 | $ | 26.4 | $ | 642.4 | ||||||||
Interest expense | $ | (221.5 | ) | $ | 1.1 | $ | (220.4 | ) | $ | (138.0 | ) | N/A | N/A | |||||||
Income before income taxes | $ | 286.2 | $ | 18.4 | $ | 304.6 | $ | 439 | $ | 26.4 | $ | 465.4 | ||||||||
Income taxes | $ | (99.6 | ) | $ | (7.3 | ) | $ | (106.9 | ) | $ | (130.8 | ) | $ | (14.6 | ) | $ | (145.4 | ) | ||
Net income | $ | 186.6 | $ | 11.1 | $ | 197.7 | $ | 308.2 | $ | 11.8 | $ | 320 | ||||||||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | $ | 12.8 | $ | (0.3 | ) | $ | 12.5 | $ | (75.3 | ) | $ | 0.7 | $ | (74.6 | ) | |||||
Net income attributable to UGI Corporation | $ | 199.4 | $ | 10.8 | $ | 210.2 | $ | 232.9 | $ | 12.5 | $ | 245.4 | ||||||||
Basic earnings per common share | $ | 1.77 | $ | 1.87 | $ | 2.09 | $ | 2.2 | ||||||||||||
Diluted earnings per common share | $ | 1.76 | $ | 1.85 | $ | 2.06 | $ | 2.17 | ||||||||||||
Consolidated Statements of Comprehensive Income | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | |||||||||||||||
Net income | $ | 186.6 | $ | 11.1 | $ | 197.7 | $ | 308.2 | $ | 11.8 | $ | 320 | ||||||||
Net (losses) gains on derivative instruments | $ | (127.1 | ) | $ | 21.7 | $ | (105.4 | ) | $ | (10.8 | ) | $ | 14.7 | $ | 3.9 | |||||
Reclassifications of net losses (gains) on derivative instruments | $ | 87.9 | $ | (31.6 | ) | $ | 56.3 | $ | 11.8 | $ | (30.8 | ) | $ | (19.0 | ) | |||||
Comprehensive income | $ | 114.3 | $ | 1.2 | $ | 115.5 | $ | 295.1 | $ | (4.3 | ) | $ | 290.8 | |||||||
Comprehensive income attributable to UGI Corporation | $ | 153.2 | $ | 0.9 | $ | 154.1 | $ | 225.3 | $ | (3.6 | ) | $ | 221.7 | |||||||
Consolidated Statements of Cash Flows | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | ||||||||||||||
Net income | $ | 186.6 | $ | 11.1 | $ | 197.7 | $ | 308.2 | $ | 11.8 | $ | 320 | ||||||||
Depreciation and amortization | $ | 316 | $ | (1.0 | ) | $ | 315 | $ | 227.9 | $ | (0.2 | ) | $ | 227.7 | ||||||
Deferred income taxes, net | $ | 82.9 | $ | 7.3 | $ | 90.2 | $ | 82.7 | $ | 8.8 | $ | 91.5 | ||||||||
Net change in realized gains and losses deferred as cash flow hedges | $ | (6.6 | ) | $ | 6.6 | $ | — | $ | 12.2 | $ | (12.2 | ) | $ | — | ||||||
Unrealized gains on derivative instruments | $ | — | $ | (17.2 | ) | $ | (17.2 | ) | $ | — | $ | (19.6 | ) | $ | (19.6 | ) | ||||
Other, net | $ | (10.7 | ) | $ | (6.8 | ) | $ | (17.5 | ) | $ | (7.1 | ) | $ | 11.4 | $ | 4.3 | ||||
Consolidated Statements of Changes in Equity | ||||||||||||||||||||
Fiscal years ended September 30, | ||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||
As Previously Reported | Adjustment | As Revised | As Previously Reported | Adjustment | As Revised | |||||||||||||||
Retained earnings | $ | 1,166.10 | $ | (10.1 | ) | $ | 1,156.00 | $ | 1,085.80 | $ | (20.9 | ) | $ | 1,064.90 | ||||||
Accumulated other comprehensive (loss) income | $ | (62.0 | ) | $ | 6.8 | $ | (55.2 | ) | $ | (17.7 | ) | $ | 16.7 | $ | (1.0 | ) | ||||
Noncontrolling interests | $ | 1,085.70 | $ | (0.1 | ) | $ | 1,085.60 | $ | 213.4 | $ | (0.4 | ) | $ | 213 | ||||||
Acquisitions_and_Dispositions_
Acquisitions and Dispositions (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Acquisitions and Dispositions [Abstract] | ' | ||||||||
Assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition | ' | ||||||||
The purchase price allocation was as follows: | |||||||||
Assets acquired: | |||||||||
Current assets | $ | 301.4 | |||||||
Property, plant & equipment | 890.2 | ||||||||
Customer relationships (estimated useful life of 15 years) | 418.9 | ||||||||
Trademarks and tradenames (a) | 91.1 | ||||||||
Goodwill (a) | 1,217.70 | ||||||||
Other assets | 9.9 | ||||||||
Total assets acquired | $ | 2,929.20 | |||||||
Liabilities assumed: | |||||||||
Current liabilities | $ | (238.1 | ) | ||||||
Long-term debt | (62.9 | ) | |||||||
Other noncurrent liabilities | (23.4 | ) | |||||||
Total liabilities assumed | $ | (324.4 | ) | ||||||
Total | $ | 2,604.80 | |||||||
(a) During Fiscal 2013, the Partnership made a correcting adjustment to trademarks and tradenames and goodwill which is not reflected in the table above. See Note 12. | |||||||||
Partnership's unaudited consolidated results of operations | ' | ||||||||
The following presents unaudited pro forma income statement and earnings per share data for Fiscal 2012 and 2011 as if the Heritage Acquisition had occurred on October 1, 2010: | |||||||||
Fiscal 2012 | Fiscal 2011 | ||||||||
Revenues | $ | 7,013.00 | $ | 7,522.10 | |||||
Net income attributable to UGI Corporation | $ | 208.4 | $ | 236 | |||||
Earnings per common share attributable to UGI Corporation stockholders: | |||||||||
Basic | $ | 1.85 | $ | 2.11 | |||||
Diluted | $ | 1.84 | $ | 2.09 | |||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||
Composition of Long Term Debt | ' | |||||||||||||||||||
Long-term debt comprises the following at September 30: | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
AmeriGas Propane: | ||||||||||||||||||||
AmeriGas Partners Senior Notes: | ||||||||||||||||||||
7.00%, due May 2022 | $ | 980.8 | $ | 980.8 | ||||||||||||||||
6.75%, due May 2020 | 550 | 550 | ||||||||||||||||||
6.50%, due May 2021 | 270 | 270 | ||||||||||||||||||
6.25%, due August 2019 | 450 | 450 | ||||||||||||||||||
HOLP Senior Secured Notes | 32 | 55.6 | ||||||||||||||||||
Other | 17.3 | 21.6 | ||||||||||||||||||
Total AmeriGas Propane | 2,300.10 | 2,328.00 | ||||||||||||||||||
UGI International: | ||||||||||||||||||||
Antargaz Senior Facilities term loan, due through March 2016 | 514 | 488.7 | ||||||||||||||||||
Flaga term loan, due September 2016 | 52 | — | ||||||||||||||||||
Flaga term loan, due through September 2016 | 54.1 | 51.4 | ||||||||||||||||||
Flaga term loan, due October 2016 | 25.8 | 24.6 | ||||||||||||||||||
Flaga term loan, due through June 2014 | 1.9 | 3.6 | ||||||||||||||||||
Other | 6.6 | 5.6 | ||||||||||||||||||
Total UGI International | 654.4 | 573.9 | ||||||||||||||||||
UGI Utilities: | ||||||||||||||||||||
Term Loan Credit Agreement | 175 | — | ||||||||||||||||||
Senior Notes: | ||||||||||||||||||||
6.375%, due September 2013 | — | 108 | ||||||||||||||||||
5.75%, due September 2016 | 175 | 175 | ||||||||||||||||||
6.21%, due September 2036 | 100 | 100 | ||||||||||||||||||
Medium-Term Notes: | ||||||||||||||||||||
5.37%, due August 2013 | — | 25 | ||||||||||||||||||
5.16%, due May 2015 | 20 | 20 | ||||||||||||||||||
7.37%, due October 2015 | 22 | 22 | ||||||||||||||||||
5.64%, due December 2015 | 50 | 50 | ||||||||||||||||||
6.17%, due June 2017 | 20 | 20 | ||||||||||||||||||
7.25%, due November 2017 | 20 | 20 | ||||||||||||||||||
5.67%, due January 2018 | 20 | 20 | ||||||||||||||||||
6.50%, due August 2033 | 20 | 20 | ||||||||||||||||||
6.13%, due October 2034 | 20 | 20 | ||||||||||||||||||
Total UGI Utilities | 642 | 600 | ||||||||||||||||||
Other | 12.9 | 12.4 | ||||||||||||||||||
Total long-term debt | 3,609.40 | 3,514.30 | ||||||||||||||||||
Less: current maturities | (67.2 | ) | (166.7 | ) | ||||||||||||||||
Total long-term debt due after one year | $ | 3,542.20 | $ | 3,347.60 | ||||||||||||||||
Principal Repayment of long-term debt | ' | |||||||||||||||||||
Scheduled principal repayments of long-term debt due in fiscal years 2014 to 2018 follow: | ||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||
AmeriGas Propane | $ | 12 | $ | 9.3 | $ | 7 | $ | 5 | $ | 4.3 | ||||||||||
UGI Utilities (a) | — | 20 | 247 | 20 | 40 | |||||||||||||||
UGI International | 55.4 | 47.9 | 523.4 | 26.7 | 0.5 | |||||||||||||||
Other | 0.6 | 0.7 | 0.7 | 0.7 | 0.8 | |||||||||||||||
Total | $ | 68 | $ | 77.9 | $ | 778.1 | $ | 52.4 | $ | 45.6 | ||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Income Tax Expense (Benefit) [Abstract] | ' | |||||||||||
Income before income taxes | ' | |||||||||||
Income before income taxes comprises the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | 494.1 | $ | 245.6 | $ | 415.2 | ||||||
Foreign | 96.3 | 59 | 50.2 | |||||||||
Total income before income taxes | $ | 590.4 | $ | 304.6 | $ | 465.4 | ||||||
Provisions for income taxes | ' | |||||||||||
The provisions for income taxes consist of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current expense (benefit): | ||||||||||||
Federal | $ | 53.3 | $ | (10.4 | ) | $ | 24.4 | |||||
State | 25.1 | 11.2 | 14.5 | |||||||||
Foreign | 37.3 | 18.8 | 15 | |||||||||
Investment tax credit | (1.6 | ) | (2.9 | ) | — | |||||||
Total current expense | 114.1 | 16.7 | 53.9 | |||||||||
Deferred expense (benefit): | ||||||||||||
Federal | 54.6 | 81.7 | 86 | |||||||||
State | (0.7 | ) | 7 | 4.5 | ||||||||
Foreign | (4.9 | ) | 1.8 | 1.4 | ||||||||
Investment tax credit amortization | (0.3 | ) | (0.3 | ) | (0.4 | ) | ||||||
Total deferred expense | 48.7 | 90.2 | 91.5 | |||||||||
Total income tax expense | $ | 162.8 | $ | 106.9 | $ | 145.4 | ||||||
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate | ' | |||||||||||
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Difference in tax rate due to: | ||||||||||||
Noncontrolling interests not subject to tax | (8.7 | ) | 1.2 | (5.6 | ) | |||||||
State income taxes, net of federal benefit | 3.4 | 4 | 2.4 | |||||||||
Valuation allowance adjustments | (0.5 | ) | (1.5 | ) | — | |||||||
Effects of foreign operations | (1.8 | ) | (3.3 | ) | (0.5 | ) | ||||||
Other, net | 0.2 | (0.3 | ) | (0.1 | ) | |||||||
Effective tax rate | 27.6 | % | 35.1 | % | 31.2 | % | ||||||
Deferred tax liabilities (assets) | ' | |||||||||||
Deferred tax liabilities (assets) comprise the following at September 30: | ||||||||||||
2013 | 2012 | |||||||||||
Excess book basis over tax basis of property, plant and equipment | $ | 626.9 | $ | 582 | ||||||||
Investment in AmeriGas Partners | 313 | 292.8 | ||||||||||
Intangible assets and goodwill | 65.1 | 61.2 | ||||||||||
Utility regulatory assets | 101.6 | 140.4 | ||||||||||
Foreign currency translation adjustment | 9.5 | 3.6 | ||||||||||
Other | 2.7 | 4.1 | ||||||||||
Gross deferred tax liabilities | 1,118.80 | 1,084.10 | ||||||||||
Pension plan liabilities | (36.2 | ) | (72.7 | ) | ||||||||
Employee-related benefits | (47.9 | ) | (43.0 | ) | ||||||||
Operating loss carryforwards | (32.1 | ) | (33.4 | ) | ||||||||
Foreign tax credit carryforwards | (81.8 | ) | (55.5 | ) | ||||||||
Utility regulatory liabilities | (15.5 | ) | (11.8 | ) | ||||||||
Derivative financial instruments | (15.0 | ) | (37.7 | ) | ||||||||
Other | (20.5 | ) | (31.1 | ) | ||||||||
Gross deferred tax assets | (249.0 | ) | (285.2 | ) | ||||||||
Deferred tax assets valuation allowance | 97.6 | 77 | ||||||||||
Net deferred tax liabilities | $ | 967.4 | $ | 875.9 | ||||||||
Reconciliation of beginning and ending amount of unrecognized tax benefit | ' | |||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: | ||||||||||||
Balance at September 30, 2010 | $ | 5.4 | ||||||||||
Additions for tax positions of the current year | 0.4 | |||||||||||
Additions for tax positions taken in prior years | 1 | |||||||||||
Settlements with tax authorities | (0.5 | ) | ||||||||||
Balance at September 30, 2011 | 6.3 | |||||||||||
Additions for tax positions of the current year | 0.5 | |||||||||||
Additions for tax positions taken in prior years | 0.6 | |||||||||||
Settlements with tax authorities | (4.5 | ) | ||||||||||
Balance at September 30, 2012 | 2.9 | |||||||||||
Additions for tax positions of the current year | 0.7 | |||||||||||
Settlements with tax authorities | (0.2 | ) | ||||||||||
Balance at September 30, 2013 | $ | 3.4 | ||||||||||
Employee_Retirement_Plans_Tabl
Employee Retirement Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||||||||||||||
Change in Pension Benefits and Other postretirement benefits Obligations, plan assets, and the funded status | ' | |||||||||||||||||||||||
The following table provides a reconciliation of the projected benefit obligations (“PBOs”) of the U.S. Pension Plan and the Antargaz pension plans, the accumulated benefit obligations (“ABOs”) of our other postretirement benefit plans, plan assets, and the funded status of pension and other postretirement plans as of September 30, 2013 and 2012. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect estimated future compensation. | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||
Benefit obligations — beginning of year | $ | 573.4 | $ | 462.9 | $ | 24.7 | $ | 20.5 | ||||||||||||||||
Service cost | 11.3 | 9.3 | 0.6 | 0.4 | ||||||||||||||||||||
Interest cost | 23.8 | 25.1 | 0.9 | 1.1 | ||||||||||||||||||||
Actuarial (gain) loss | (72.7 | ) | 82.4 | (3.6 | ) | 3.2 | ||||||||||||||||||
Plan amendments | 1 | 0.1 | (1.8 | ) | 1 | |||||||||||||||||||
Acquisitions | — | 14.6 | — | — | ||||||||||||||||||||
Foreign currency | 1.5 | (0.7 | ) | 0.2 | (0.1 | ) | ||||||||||||||||||
Benefits paid | (21.8 | ) | (20.3 | ) | (1.3 | ) | (1.4 | ) | ||||||||||||||||
Benefit obligations — end of year | $ | 516.5 | $ | 573.4 | $ | 19.7 | $ | 24.7 | ||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of plan assets — beginning of year | $ | 369.9 | $ | 290 | $ | 11.2 | $ | 9.8 | ||||||||||||||||
Actual gain on plan assets | 42.2 | 51.2 | 1.1 | 1.7 | ||||||||||||||||||||
Foreign currency | 0.8 | (0.5 | ) | — | — | |||||||||||||||||||
Employer contributions | 24.2 | 32.2 | 0.7 | 1.1 | ||||||||||||||||||||
Acquisitions | — | 17.3 | — | — | ||||||||||||||||||||
Benefits paid | (21.8 | ) | (20.3 | ) | (1.3 | ) | (1.4 | ) | ||||||||||||||||
Fair value of plan assets — end of year | $ | 415.3 | $ | 369.9 | $ | 11.7 | $ | 11.2 | ||||||||||||||||
Funded status of the plans — end of year | $ | (101.2 | ) | $ | (203.5 | ) | $ | (8.0 | ) | $ | (13.5 | ) | ||||||||||||
Assets (liabilities) recorded in the balance sheet: | ||||||||||||||||||||||||
Assets in excess of liabilities — included in other noncurrent assets | $ | — | $ | — | $ | 3.2 | $ | — | ||||||||||||||||
Unfunded liabilities — included in other current liabilities | (17.9 | ) | (15.8 | ) | (0.4 | ) | (0.6 | ) | ||||||||||||||||
Unfunded liabilities — included in other noncurrent liabilities | (83.3 | ) | (187.7 | ) | (10.8 | ) | (12.9 | ) | ||||||||||||||||
Net amount recognized | $ | (101.2 | ) | $ | (203.5 | ) | $ | (8.0 | ) | $ | (13.5 | ) | ||||||||||||
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax): | ||||||||||||||||||||||||
Prior service credit | $ | (0.1 | ) | $ | (0.1 | ) | $ | (0.1 | ) | $ | (0.1 | ) | ||||||||||||
Net actuarial loss (gain) | 16.7 | 25.3 | (0.4 | ) | 0.4 | |||||||||||||||||||
Total | $ | 16.6 | $ | 25.2 | $ | (0.5 | ) | $ | 0.3 | |||||||||||||||
Amounts recorded in regulatory assets and liabilities (pre-tax): | ||||||||||||||||||||||||
Prior service cost (credit) | $ | 2.2 | $ | 1.5 | $ | (4.3 | ) | $ | (2.8 | ) | ||||||||||||||
Net actuarial loss | 91.3 | 184.5 | 3.6 | 5.8 | ||||||||||||||||||||
Total | $ | 93.5 | $ | 186 | $ | (0.7 | ) | $ | 3 | |||||||||||||||
Actuarial assumptions for our domestic plans | ' | |||||||||||||||||||||||
The expected rate of return on assets assumption is based on the current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below). | ||||||||||||||||||||||||
Pension Plan | Other Postretirement Benefits | |||||||||||||||||||||||
2013 | 2012 | 2011 (a) | 2013 | 2012 | 2011 | |||||||||||||||||||
Weighted-average assumptions: | ||||||||||||||||||||||||
Discount rate - benefit obligations | 5.2 | % | 4.2 | % | 5.3 | % | 5.10% - 5.40% | 4.10% - 4.30% | 5.3 | % | ||||||||||||||
Discount rate - benefit cost | 4.2 | % | 5.3 | % | 5 | % | 4.10% - 4.30% | 5.3 | % | 5 | % | |||||||||||||
Expected return on plan assets | 7.75 | % | 7.75 | % | 8 | % | 5 | % | 5.2 | % | 5.5 | % | ||||||||||||
Rate of increase in salary levels | 3.25 | % | 3.25 | % | 3.5 | % | 3.25 | % | 3.25 | % | 3.5 | % | ||||||||||||
______________ | ||||||||||||||||||||||||
(a) | Effective December 31, 2010, we merged our then-existing two U.S. defined benefit pension plans (“U.S. Pension Plans Merger”) to form the U.S. Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the U.S. Pension Plans Merger) and 5.5% for the remainder of Fiscal 2011. | |||||||||||||||||||||||
Component of net periodic pension expense and other postretirement benefit costs | ' | |||||||||||||||||||||||
Net periodic pension expense and other postretirement benefit cost includes the following components: | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
Service cost | $ | 11.3 | $ | 9.3 | $ | 8.8 | $ | 0.6 | $ | 0.4 | $ | 0.4 | ||||||||||||
Interest cost | 23.8 | 25.1 | 24.1 | 0.9 | 1.1 | 1.1 | ||||||||||||||||||
Expected return on assets | (27.8 | ) | (26.2 | ) | (25.8 | ) | (0.5 | ) | (0.5 | ) | (0.5 | ) | ||||||||||||
Curtailment gain | — | — | — | — | — | (3.2 | ) | |||||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service cost (benefit) | 0.3 | 0.2 | 0.2 | (0.3 | ) | (0.3 | ) | (0.7 | ) | |||||||||||||||
Actuarial loss | 15.1 | 8.4 | 7.5 | 0.4 | 0.3 | 0.4 | ||||||||||||||||||
Net benefit cost (income) | 22.7 | 16.8 | 14.8 | 1.1 | 1 | (2.5 | ) | |||||||||||||||||
Change in associated regulatory liabilities | — | — | — | 3.3 | 3.2 | 3.1 | ||||||||||||||||||
Net benefit cost after change in regulatory liabilities | $ | 22.7 | $ | 16.8 | $ | 14.8 | $ | 4.4 | $ | 4.2 | $ | 0.6 | ||||||||||||
Expected payments for pension benefits and other postretirement welfare benefits | ' | |||||||||||||||||||||||
Expected payments for pension benefits and for other postretirement welfare benefits are as follows: | ||||||||||||||||||||||||
Pension | Other | |||||||||||||||||||||||
Benefits | Postretirement | |||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
Fiscal 2014 | $ | 24.6 | $ | 1.4 | ||||||||||||||||||||
Fiscal 2015 | 24.4 | 1.2 | ||||||||||||||||||||||
Fiscal 2016 | 26.1 | 1.2 | ||||||||||||||||||||||
Fiscal 2017 | 28.8 | 1.1 | ||||||||||||||||||||||
Fiscal 2018 | 30.4 | 1.1 | ||||||||||||||||||||||
Fiscal 2019 - 2023 | 164.3 | 5.3 | ||||||||||||||||||||||
Pension Plans | ' | |||||||||||||||||||||||
The targets, target ranges and actual allocations for the U.S. Pension Plan and VEBA trust assets at September 30 are as follows: | ||||||||||||||||||||||||
U.S. Pension Plan | ||||||||||||||||||||||||
Actual | Target | Permitted | ||||||||||||||||||||||
Asset | Range | |||||||||||||||||||||||
2013 | 2012 | Allocation | ||||||||||||||||||||||
Equity investments: | ||||||||||||||||||||||||
Domestic | 57.5 | % | 53.5 | % | 52.5 | % | 40.0% - 65.0% | |||||||||||||||||
International | 11.1 | % | 10.5 | % | 12.5 | % | 7.5% - 17.5% | |||||||||||||||||
Total | 68.6 | % | 64 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 31.4 | % | 36 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
VEBA | ||||||||||||||||||||||||
Actual | Target | Permitted | ||||||||||||||||||||||
Asset | Range | |||||||||||||||||||||||
2013 | 2012 | Allocation | ||||||||||||||||||||||
Domestic equity investments | 65.6 | % | 68.5 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 34.4 | % | 31.5 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
Fair value of U.S. pension plan and VEBA trust assets | ' | |||||||||||||||||||||||
The fair values of the U.S. Pension Plan and VEBA trust assets at September 30, 2013 and 2012, by asset class are as follows: | ||||||||||||||||||||||||
U.S. Pension Plan | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Domestic equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 141.8 | $ | — | $ | — | $ | 141.8 | ||||||||||||||||
Small and midcap equity mutual funds | 54.5 | — | — | 54.5 | ||||||||||||||||||||
UGI Corporation Common Stock | 32.6 | — | — | 32.6 | ||||||||||||||||||||
Total domestic equity investments | 228.9 | — | — | 228.9 | ||||||||||||||||||||
International index equity mutual funds | 44.4 | — | — | 44.4 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 120.9 | — | — | 120.9 | ||||||||||||||||||||
Cash equivalents | — | 4 | — | 4 | ||||||||||||||||||||
Total fixed income investments | 120.9 | 4 | — | 124.9 | ||||||||||||||||||||
Total | $ | 394.2 | $ | 4 | $ | — | $ | 398.2 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
Domestic equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 118.9 | $ | — | $ | — | $ | 118.9 | ||||||||||||||||
Small and midcap equity mutual funds | 42.9 | — | — | 42.9 | ||||||||||||||||||||
UGI Corporation Common Stock | 26.4 | — | — | 26.4 | ||||||||||||||||||||
Total domestic equity investments | 188.2 | — | — | 188.2 | ||||||||||||||||||||
International index equity mutual funds | 36.9 | — | — | 36.9 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 123.3 | — | — | 123.3 | ||||||||||||||||||||
Cash equivalents | — | 3.1 | — | 3.1 | ||||||||||||||||||||
Total fixed income investments | 123.3 | 3.1 | — | 126.4 | ||||||||||||||||||||
Total | $ | 348.4 | $ | 3.1 | $ | — | $ | 351.5 | ||||||||||||||||
VEBA | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7.7 | $ | — | $ | — | $ | 7.7 | ||||||||||||||||
Bond index mutual fund | 3.8 | — | — | 3.8 | ||||||||||||||||||||
Cash equivalents | — | 0.2 | — | 0.2 | ||||||||||||||||||||
Total | $ | 11.5 | $ | 0.2 | $ | — | $ | 11.7 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7.7 | $ | — | $ | — | $ | 7.7 | ||||||||||||||||
Bond index mutual fund | 3.4 | — | — | 3.4 | ||||||||||||||||||||
Cash equivalents | — | 0.1 | — | 0.1 | ||||||||||||||||||||
Total | $ | 11.1 | $ | 0.1 | $ | — | $ | 11.2 | ||||||||||||||||
Utility_Regulatory_Assets_and_1
Utility Regulatory Assets and Liabilities and Regulatory Matters (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Regulated Operations [Abstract] | ' | |||||||
Regulatory assets and liabilities associated with Gas Utility and Electric Utility | ' | |||||||
The following regulatory assets and liabilities associated with Utilities are included in our accompanying balance sheets at September 30: | ||||||||
2013 | 2012 | |||||||
Regulatory assets: | ||||||||
Income taxes recoverable | $ | 106.1 | $ | 103.2 | ||||
Underfunded pension and postretirement plans | 94.5 | 188.2 | ||||||
Environmental costs | 17.1 | 16.8 | ||||||
Deferred fuel and power costs | 8.3 | 11.6 | ||||||
Removal costs, net | 13.3 | 12.7 | ||||||
Other | 5.6 | 5.9 | ||||||
Total regulatory assets | $ | 244.9 | $ | 338.4 | ||||
Regulatory liabilities: | ||||||||
Postretirement benefits | $ | 16.5 | $ | 13.1 | ||||
Environmental overcollections | 2.6 | 2.9 | ||||||
Deferred fuel and power refunds | 8.3 | 4.4 | ||||||
State tax benefits — distribution system repairs | 8.4 | 7.4 | ||||||
Other | 1.5 | 0.5 | ||||||
Total regulatory liabilities | $ | 37.3 | $ | 28.3 | ||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventories comprise the following at September 30: | ||||||||
2013 | 2012 | |||||||
Non-utility LPG and natural gas | $ | 230 | $ | 237.9 | ||||
Gas Utility natural gas | 78.9 | 57.7 | ||||||
Materials, supplies and other | 56.6 | 58.5 | ||||||
Total inventories | $ | 365.5 | $ | 354.1 | ||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property, plant and equipment comprise the following at September 30: | ||||||||
2013 | 2012 | |||||||
Utilities: | ||||||||
Distribution | $ | 2,162.60 | $ | 2,047.80 | ||||
Transmission | 86.6 | 85.4 | ||||||
General and other, including work in process | 178.6 | 162.5 | ||||||
Total Utilities | 2,427.80 | 2,295.70 | ||||||
Non-utility: | ||||||||
Land | 178.4 | 175 | ||||||
Buildings and improvements | 308.1 | 282 | ||||||
Transportation equipment | 273.8 | 246.5 | ||||||
Equipment, primarily cylinders and tanks | 3,184.40 | 3,043.40 | ||||||
Electric generation | 264.8 | 254.3 | ||||||
Other, including work in process | 403.2 | 222.7 | ||||||
Total non-utility | 4,612.70 | 4,223.90 | ||||||
Total property, plant and equipment | $ | 7,040.50 | $ | 6,519.60 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Component of company's intangible assets | ' | |||||||||||||||||||||||||||
Goodwill and intangible assets comprise the following at September 30: | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Goodwill (not subject to amortization) | $ | 2,873.70 | $ | 2,818.30 | ||||||||||||||||||||||||
Intangible assets: | ||||||||||||||||||||||||||||
Customer relationships, noncompete agreements and other | $ | 704.8 | $ | 691.9 | ||||||||||||||||||||||||
Trademarks and tradenames (not subject to amortization) | 130.2 | 137.2 | ||||||||||||||||||||||||||
Gross carrying amount | 835 | 829.1 | ||||||||||||||||||||||||||
Accumulated amortization | (227.1 | ) | (170.9 | ) | ||||||||||||||||||||||||
Intangible assets, net | $ | 607.9 | $ | 658.2 | ||||||||||||||||||||||||
Changes in the carrying amount of goodwill | ' | |||||||||||||||||||||||||||
Changes in the carrying amount of goodwill are as follows: | ||||||||||||||||||||||||||||
UGI International | ||||||||||||||||||||||||||||
AmeriGas | Gas | Energy Services | Antargaz | Flaga & Other | Corporate & | Total | ||||||||||||||||||||||
Propane | Utility | Other | ||||||||||||||||||||||||||
Balance September 30, 2011 | $ | 696.3 | $ | 182.1 | $ | 2.8 | $ | 591.8 | $ | 82.2 | $ | 7 | $ | 1,562.20 | ||||||||||||||
Acquisitions | 1,223.10 | — | — | 46.4 | 13.7 | — | 1,283.20 | |||||||||||||||||||||
Purchase accounting adjustments | (0.2 | ) | — | — | — | — | — | (0.2 | ) | |||||||||||||||||||
Foreign currency translation | — | — | — | (26.2 | ) | (0.7 | ) | — | (26.9 | ) | ||||||||||||||||||
Balance September 30, 2012 | 1,919.20 | 182.1 | 2.8 | 612 | 95.2 | 7 | 2,818.30 | |||||||||||||||||||||
Acquisitions | 12.5 | — | — | — | — | — | 12.5 | |||||||||||||||||||||
Correcting adjustment | 9.3 | — | — | — | — | — | 9.3 | |||||||||||||||||||||
Foreign currency translation | — | — | — | 31.7 | 1.9 | — | 33.6 | |||||||||||||||||||||
Balance September 30, 2013 | $ | 1,941.00 | $ | 182.1 | $ | 2.8 | $ | 643.7 | $ | 97.1 | $ | 7 | $ | 2,873.70 | ||||||||||||||
Common_Stock_and_Equity_Based_1
Common Stock and Equity Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||
Common stock share activity | ' | ||||||||||||||||||||
UGI Common Stock share activity for Fiscal 2011, Fiscal 2012 and Fiscal 2013 follows: | |||||||||||||||||||||
Issued | Treasury | Outstanding | |||||||||||||||||||
Balance, September 30, 2010 | 115,400,294 | (5,026,707 | ) | 110,373,587 | |||||||||||||||||
Issued: | |||||||||||||||||||||
Employee and director plans | 106,800 | 1,263,065 | 1,369,865 | ||||||||||||||||||
Dividend reinvestment plan | — | 92,570 | 92,570 | ||||||||||||||||||
Balance, September 30, 2011 | 115,507,094 | (3,671,072 | ) | 111,836,022 | |||||||||||||||||
Issued: | |||||||||||||||||||||
Employee and director plans | 117,500 | 824,925 | 942,425 | ||||||||||||||||||
Dividend reinvestment plan | — | 104,994 | 104,994 | ||||||||||||||||||
Shares reacquired - employee and director plans | — | (263,020 | ) | (263,020 | ) | ||||||||||||||||
Balance, September 30, 2012 | 115,624,594 | (3,004,173 | ) | 112,620,421 | |||||||||||||||||
Issued: | |||||||||||||||||||||
Employee and director plans | 159,200 | 2,622,338 | 2,781,538 | ||||||||||||||||||
Dividend reinvestment plan | — | 62,169 | 62,169 | ||||||||||||||||||
Shares reacquired - employee and director plans | — | (1,035,270 | ) | (1,035,270 | ) | ||||||||||||||||
Balance, September 30, 2013 | 115,783,794 | (1,354,936 | ) | 114,428,858 | |||||||||||||||||
Stock Option Awards | ' | ||||||||||||||||||||
Stock option transactions under the 2013 OICP, the 2004 OECP and predecessor plans during Fiscal 2011, Fiscal 2012 and Fiscal 2013 follow: | |||||||||||||||||||||
Shares | Weighted | Total | Weighted | ||||||||||||||||||
Average | Intrinsic | Average | |||||||||||||||||||
Option Price | Value | Contract Term | |||||||||||||||||||
(Years) | |||||||||||||||||||||
Shares under option — September 30, 2010 | 7,557,045 | $ | 23.81 | $ | 36.2 | 6.5 | |||||||||||||||
Granted | 1,443,558 | $ | 31.55 | ||||||||||||||||||
Cancelled | (235,437 | ) | $ | 27.79 | |||||||||||||||||
Exercised | (1,091,987 | ) | $ | 20.95 | $ | 11.4 | |||||||||||||||
Shares under option — September 30, 2011 | 7,673,179 | $ | 25.55 | $ | 15.1 | 6.2 | |||||||||||||||
Granted | 1,508,050 | $ | 29.26 | ||||||||||||||||||
Cancelled | (321,600 | ) | $ | 27.74 | |||||||||||||||||
Exercised | (801,857 | ) | $ | 20.93 | $ | 7.2 | |||||||||||||||
Shares under option — September 30, 2012 | 8,057,772 | $ | 26.62 | $ | 41.4 | 6.1 | |||||||||||||||
Granted | 1,516,900 | $ | 33.57 | ||||||||||||||||||
Cancelled | (89,836 | ) | $ | 30.51 | |||||||||||||||||
Exercised | (2,688,868 | ) | $ | 24.58 | $ | 35.4 | |||||||||||||||
Shares under option — September 30, 2013 | 6,795,968 | $ | 28.92 | $ | 69.6 | 6.8 | |||||||||||||||
Options exercisable — September 30, 2011 | 4,879,784 | $ | 24.15 | ||||||||||||||||||
Options exercisable — September 30, 2012 | 5,317,698 | $ | 25.32 | ||||||||||||||||||
Options exercisable — September 30, 2013 | 3,914,061 | $ | 26.93 | $ | 47.8 | 5.6 | |||||||||||||||
Options not exercisable — September 30, 2013 | 2,881,907 | $ | 31.63 | $ | 21.8 | 8.5 | |||||||||||||||
Additional information relating to stock options outstanding and exercisable | ' | ||||||||||||||||||||
The following table presents additional information relating to stock options outstanding and exercisable at September 30, 2013: | |||||||||||||||||||||
Range of exercise prices | |||||||||||||||||||||
Under | $25.01 - | $30.01 - | Over | ||||||||||||||||||
$25.00 | $30.00 | $35.00 | $35.00 | ||||||||||||||||||
Options outstanding at September 30, 2013: | |||||||||||||||||||||
Number of options | 1,778,435 | 2,265,255 | 2,559,678 | 192,600 | |||||||||||||||||
Weighted average remaining contractual life (in years) | 5.2 | 6.5 | 8.1 | 9.6 | |||||||||||||||||
Weighted average exercise price | $ | 23.92 | $ | 28.34 | $ | 32.12 | $ | 39.45 | |||||||||||||
Options exercisable at September 30, 2013: | |||||||||||||||||||||
Number of options | 1,718,735 | 1,358,454 | 836,872 | — | |||||||||||||||||
Weighted average exercise price | $ | 23.91 | $ | 27.8 | $ | 31.7 | $ | — | |||||||||||||
Assumption used for valuing option grants | ' | ||||||||||||||||||||
The assumptions we used for valuing option grants during Fiscal 2013, Fiscal 2012 and Fiscal 2011 are as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected life of option | 5.75 years | 5.75 years | 5.75 years | ||||||||||||||||||
Weighted average volatility | 24.90% | 24.70% | 24.30% | ||||||||||||||||||
Weighted average dividend yield | 3.60% | 3.50% | 3.40% | ||||||||||||||||||
Expected volatility | 24.4% - 24.9% | 24.70% | 23.8% - 24.3% | ||||||||||||||||||
Expected dividend yield | 3.2% - 3.7% | 3.3% - 3.7% | 3.1% - 3.4% | ||||||||||||||||||
Risk free rate | 0.8% - 1.7% | 0.8% - 1.1% | 1.2% - 2.4% | ||||||||||||||||||
Weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs | ' | ||||||||||||||||||||
The following table summarizes the weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs: | |||||||||||||||||||||
Grants Awarded in Fiscal | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Risk free rate | 0.4 | % | 0.4 | % | 1 | % | |||||||||||||||
Expected life | 3 years | 3 years | 3 years | ||||||||||||||||||
Expected volatility | 21.1 | % | 22.2 | % | 27.6 | % | |||||||||||||||
Dividend yield | 3.3 | % | 3.5 | % | 3.2 | % | |||||||||||||||
UGI unit award activity | ' | ||||||||||||||||||||
The following table summarizes UGI Unit award activity for Fiscal 2013: | |||||||||||||||||||||
Total | Vested | Non-Vested | |||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||
UGI | Average | UGI | Average | UGI | Average | ||||||||||||||||
Units | Grant Date | Units | Grant Date | Units | Grant Date | ||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||
(per Unit) | (per Unit) | (per Unit) | |||||||||||||||||||
September 30, 2012 | 885,338 | $ | 24.09 | 580,122 | $ | 21.72 | 305,216 | $ | 28.59 | ||||||||||||
UGI Performance Units: | |||||||||||||||||||||
Granted | 220,575 | $ | 37.97 | 26,818 | $ | 38.13 | 193,757 | $ | 37.94 | ||||||||||||
Forfeited | (9,319 | ) | $ | 33.78 | — | $ | — | (9,319 | ) | $ | 33.78 | ||||||||||
Vested | — | $ | — | 117,703 | $ | 26.69 | (117,703 | ) | $ | 26.69 | |||||||||||
Unit awards paid | (103,759 | ) | $ | 22.22 | (103,759 | ) | $ | 22.22 | — | $ | — | ||||||||||
Performance criteria not met | (70,079 | ) | $ | 22.22 | (70,079 | ) | $ | 22.22 | — | $ | — | ||||||||||
UGI Stock Units: | |||||||||||||||||||||
Granted (a) | 34,025 | $ | 33.05 | 34,025 | $ | 33.05 | — | $ | — | ||||||||||||
Unit awards paid | (36,180 | ) | $ | 36.37 | (36,180 | ) | $ | 36.37 | — | $ | — | ||||||||||
September 30, 2013 | 920,601 | $ | 27.52 | 548,650 | $ | 23.18 | 371,951 | $ | 33.93 | ||||||||||||
(a) | Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in shares. UGI Stock Unit awards granted in Fiscal 2012 and Fiscal 2011 were 42,445 and 61,945, respectively. | ||||||||||||||||||||
Schedule of Payment for UGI Performance Unit and UGI Stock Unit awards in shares and cash | ' | ||||||||||||||||||||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, the Company paid UGI Performance Unit and UGI Stock Unit awards in shares and cash as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
UGI Performance Unit awards: | |||||||||||||||||||||
Number of original awards granted | 218,683 | 210,750 | 197,917 | ||||||||||||||||||
Fiscal year granted | 2010 | 2009 | 2008 | ||||||||||||||||||
Payment of awards: | |||||||||||||||||||||
Shares of UGI Common Stock issued | 65,081 | — | 142,494 | ||||||||||||||||||
Cash paid | $ | 1.6 | $ | — | $ | 7.5 | |||||||||||||||
UGI Stock Unit awards: | |||||||||||||||||||||
Number of original awards granted | 36,179 | 32,898 | 22,400 | ||||||||||||||||||
Payment of awards: | |||||||||||||||||||||
Shares of UGI Common Stock issued | 23,516 | 21,757 | 17,545 | ||||||||||||||||||
Cash paid | $ | 0.5 | $ | 0.2 | $ | 0.2 | |||||||||||||||
Weighted Average Assumption used to determine the fair value of AmeriGas Performance unit Awards and related compensation costs | ' | ||||||||||||||||||||
The following table summarizes the weighted-average assumptions used to determine the fair value of AmeriGas Performance Unit awards and related compensation costs: | |||||||||||||||||||||
Grants Awarded in Fiscal | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Risk-free rate | 0.4 | % | 0.4 | % | 1 | % | |||||||||||||||
Expected life | 3 years | 3 years | 3 years | ||||||||||||||||||
Expected volatility | 20.7 | % | 23 | % | 34.6 | % | |||||||||||||||
Dividend yield | 8.2 | % | 6.4 | % | 5.8 | % | |||||||||||||||
AmeriGas Common Unit based award activity | ' | ||||||||||||||||||||
The following table summarizes AmeriGas Common Unit-based award activity for Fiscal 2013: | |||||||||||||||||||||
Total | Vested | Non-Vested | |||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||
AmeriGas | Average | AmeriGas | Average | AmeriGas | Average | ||||||||||||||||
Partners | Grant Date | Partners | Grant Date | Partners | Grant Date | ||||||||||||||||
Common | Fair Value | Common | Fair Value | Common | Fair Value | ||||||||||||||||
Units | (per Unit) | Units | (per Unit) | Units | (per Unit) | ||||||||||||||||
Subject | Subject | Subject | |||||||||||||||||||
to Award | to Award | to Award | |||||||||||||||||||
September 30, 2012 | 263,967 | $ | 44.7 | 65,651 | $ | 45.42 | 198,316 | $ | 44.47 | ||||||||||||
AmeriGas Performance Units: | |||||||||||||||||||||
Granted | 44,800 | $ | 42.36 | 1,332 | $ | 41.64 | 43,468 | $ | 42.38 | ||||||||||||
Forfeited | (14,869 | ) | $ | 47.04 | — | $ | — | (14,869 | ) | $ | 47.04 | ||||||||||
Vested | — | $ | — | 20,115 | $ | 43.68 | (20,115 | ) | $ | 43.68 | |||||||||||
Performance criteria not met | (43,350 | ) | $ | 42.1 | (43,350 | ) | $ | 42.1 | — | $ | — | ||||||||||
AmeriGas Stock Units: | |||||||||||||||||||||
Granted | 20,336 | $ | 43.06 | 8,442 | $ | 39.07 | 11,894 | $ | 45.9 | ||||||||||||
Forfeited | (11,333 | ) | $ | 48.79 | — | $ | — | (11,333 | ) | $ | 48.79 | ||||||||||
Vested | — | $ | — | 30,909 | $ | 48.92 | (30,909 | ) | $ | 48.92 | |||||||||||
Awards paid | (35,384 | ) | $ | 47.04 | (35,384 | ) | $ | 47.04 | — | $ | — | ||||||||||
September 30, 2013 | 224,167 | $ | 47.88 | 47,715 | $ | 47.92 | 176,452 | $ | 47.87 | ||||||||||||
AmeriGas Common Unit Based Awards In Common Units And Cash | ' | ||||||||||||||||||||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, the Partnership paid AmeriGas Common Unit-based awards in Common Units and cash as follows: | |||||||||||||||||||||
2013 (a) | 2012 (a) | 2011 | |||||||||||||||||||
Number of Common Units subject to original awards granted | 54,750 | 60,200 | 41,064 | ||||||||||||||||||
Fiscal year granted | 2010 | 2009 | 2008 | ||||||||||||||||||
Payment of awards: | |||||||||||||||||||||
AmeriGas Partners Common Units issued | 3,850 | 3,500 | 35,787 | ||||||||||||||||||
Cash paid | $ | 0.1 | $ | 0.1 | $ | 1.2 | |||||||||||||||
(a) In addition, during Fiscal 2013 and 2012, 19,342 AmeriGas Stock Units and $0.5 in cash, and 40,516 AmeriGas Stock Units and $0.9 in cash, respectively, were paid to former Heritage Propane employees associated with awards granted in Fiscal 2012. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||||||||||||||
Minimum future payments under operating leases | ' | |||||||||||||||||||||||
Minimum future payments under operating leases with non-affiliates that have initial or remaining noncancelable terms in excess of one year are as follows: | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | After 2018 | |||||||||||||||||||
AmeriGas Propane | $ | 51 | $ | 41.4 | $ | 33.7 | $ | 26.6 | $ | 21.7 | $ | 55.8 | ||||||||||||
UGI Utilities | 5.5 | 4.7 | 4.2 | 2.7 | 2 | 1.3 | ||||||||||||||||||
UGI International | 8.2 | 5.8 | 4.5 | 3.3 | 1.8 | 1 | ||||||||||||||||||
Other | 2 | 1.6 | 1.4 | 0.6 | 0.2 | 0.1 | ||||||||||||||||||
Total | $ | 66.7 | $ | 53.5 | $ | 43.8 | $ | 33.2 | $ | 25.7 | $ | 58.2 | ||||||||||||
Contractual obligations under supply storage and service contracts | ' | |||||||||||||||||||||||
The following table presents contractual obligations with non-affiliates under Gas Utility, Electric Utility, Midstream & Marketing, AmeriGas Propane and UGI International supply, storage and service contracts existing at September 30, 2013: | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | After 2018 | |||||||||||||||||||
UGI Utilities supply, storage and transportation contracts | $ | 151.6 | $ | 80.3 | $ | 50.9 | $ | 31.2 | $ | 28 | $ | 72.1 | ||||||||||||
Midstream & Marketing supply contracts | 244.4 | 109.1 | 12.3 | 1.2 | — | — | ||||||||||||||||||
AmeriGas Propane supply contracts | 176.9 | 97.1 | 22.2 | — | — | — | ||||||||||||||||||
UGI International supply contracts | 198.1 | 189.9 | 101 | — | — | — | ||||||||||||||||||
Total | $ | 771 | $ | 476.4 | $ | 186.4 | $ | 32.4 | $ | 28 | $ | 72.1 | ||||||||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Financial assets and financial liabilities that are measured at fair value on a recurring basis | ' | |||||||||||||||
The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of September 30, 2013 and 2012: | ||||||||||||||||
Asset (Liability) | ||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||
in Active | Other | Inputs | ||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||
Identical Assets | Inputs | |||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||
(Level 1) | ||||||||||||||||
September 30, 2013: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | 2.1 | $ | 21.2 | $ | — | $ | 23.3 | ||||||||
Foreign currency contracts | $ | — | $ | 0.9 | $ | — | $ | 0.9 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | (9.7 | ) | $ | (6.3 | ) | $ | — | $ | (16.0 | ) | |||||
Foreign currency contracts | $ | — | $ | (7.2 | ) | $ | — | $ | (7.2 | ) | ||||||
Interest rate contracts | $ | — | $ | (31.0 | ) | $ | — | $ | (31.0 | ) | ||||||
Cross-currency swaps | $ | — | $ | (1.2 | ) | $ | — | $ | (1.2 | ) | ||||||
September 30, 2012: | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | 8.6 | $ | 4.5 | $ | — | $ | 13.1 | ||||||||
Foreign currency contracts | $ | — | $ | 1.8 | $ | — | $ | 1.8 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||
Commodity contracts | $ | (7.8 | ) | $ | (53.2 | ) | $ | — | $ | (61.0 | ) | |||||
Interest rate contracts | $ | — | $ | (71.9 | ) | $ | — | $ | (71.9 | ) | ||||||
Disclosures_About_Derivative_I1
Disclosures About Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Outstanding derivative commodity instruments volumes | ' | |||||||||||||||||||||||||
At September 30, 2013 and 2012, we had the following outstanding derivative commodity instruments volumes that qualify for hedge accounting treatment: | ||||||||||||||||||||||||||
Volumes | ||||||||||||||||||||||||||
Commodity | 2013 | 2012 | ||||||||||||||||||||||||
LPG (millions of gallons) | 279 | 243.9 | ||||||||||||||||||||||||
Electricity calls (millions of kilowatt hours) | 594.8 | 1,151.70 | ||||||||||||||||||||||||
Balance sheet location and fair value of derivative assets and liabilities | ' | |||||||||||||||||||||||||
The following table provides information regarding the balance sheet location and fair value of derivative assets and liabilities existing as of September 30, 2013 and 2012: | ||||||||||||||||||||||||||
Derivative Assets | Derivative Liabilities | |||||||||||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
Balance Sheet | 2013 | 2012 | Balance Sheet | 2013 | 2012 | |||||||||||||||||||||
Location | Location | |||||||||||||||||||||||||
Derivatives Designated as Hedging Instruments: | ||||||||||||||||||||||||||
Commodity contracts | Derivative financial instruments | $ | 16.1 | $ | 3.3 | Derivative financial instruments | $ | (2.6 | ) | $ | (43.6 | ) | ||||||||||||||
and Other assets | and Other noncurrent liabilities | |||||||||||||||||||||||||
Foreign currency contracts | Derivative financial instruments | 0.9 | 1.8 | Derivative financial instruments | (7.2 | ) | — | |||||||||||||||||||
and Other assets | and Other noncurrent liabilities | |||||||||||||||||||||||||
Cross-currency contracts | — | — | Derivative financial instruments | (1.2 | ) | — | ||||||||||||||||||||
and Other noncurrent liabilities | ||||||||||||||||||||||||||
Interest rate contracts | — | — | Derivative financial instruments | (31.0 | ) | (71.9 | ) | |||||||||||||||||||
and Other noncurrent liabilities | ||||||||||||||||||||||||||
Total Derivatives Designated as Hedging Instruments | $ | 17 | $ | 5.1 | $ | (42.0 | ) | $ | (115.5 | ) | ||||||||||||||||
Derivatives Accounted for Under ASC 980: | ||||||||||||||||||||||||||
Commodity contracts | Derivative financial instruments | $ | — | $ | 5.3 | Derivative financial instruments | $ | (6.7 | ) | $ | (9.4 | ) | ||||||||||||||
and Other noncurrent liabilities | ||||||||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||||||||
Commodity contracts | Derivative financial instruments | $ | 7.2 | $ | 4.5 | Derivative financial instruments | $ | (6.7 | ) | $ | (8.0 | ) | ||||||||||||||
and Other assets | ||||||||||||||||||||||||||
Total Derivatives | $ | 24.2 | $ | 14.9 | $ | (55.4 | ) | $ | (132.9 | ) | ||||||||||||||||
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | |||||||||||||||||||||||||
The following tables provide information on the effects of derivative instruments in the Consolidated Statement of Income and changes in AOCI and noncontrolling interest for Fiscal 2013 and 2012: | ||||||||||||||||||||||||||
Gain or (Loss) | Gain or (Loss) | Location of Gain or (Loss) Reclassified from | ||||||||||||||||||||||||
Recognized in | Reclassified from | AOCI and Noncontrolling | ||||||||||||||||||||||||
AOCI and | AOCI and Noncontrolling | Interests into Income | ||||||||||||||||||||||||
Noncontrolling Interests | Interests into Income | |||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||||||||||
Commodity contracts | $ | 8.3 | $ | (98.0 | ) | $ | 27.3 | $ | (49.5 | ) | $ | (61.4 | ) | $ | 35.3 | Cost of sales | ||||||||||
Foreign currency contracts | (8.3 | ) | (0.5 | ) | 6.9 | (0.1 | ) | 2.1 | (0.8 | ) | Cost of sales | |||||||||||||||
Cross-currency contracts | (1.2 | ) | — | — | — | — | — | |||||||||||||||||||
Interest rate contracts | 22.9 | (36.8 | ) | (35.8 | ) | (14.2 | ) | (11.5 | ) | (14.1 | ) | Interest expense /other income | ||||||||||||||
Total | $ | 21.7 | $ | (135.3 | ) | $ | (1.6 | ) | $ | (63.8 | ) | $ | (70.8 | ) | $ | 20.4 | ||||||||||
Net Investment Hedges: | ||||||||||||||||||||||||||
Foreign currency contracts | $ | — | $ | 0.6 | $ | 0.2 | ||||||||||||||||||||
Derivatives Not Designated as Hedging Instruments: | ||||||||||||||||||||||||||
Gain or (Loss) | Location of | |||||||||||||||||||||||||
Recognized in Income | Gain or (Loss) | |||||||||||||||||||||||||
2013 | 2012 | 2011 | Recognized in Income | |||||||||||||||||||||||
Commodity contracts | $ | 9.3 | $ | 0.1 | $ | 29.7 | Cost of sales | |||||||||||||||||||
Commodity contracts | — | 0.2 | 0.3 | Operating expenses / other income | ||||||||||||||||||||||
Foreign currency contracts | (0.4 | ) | 0.5 | (6.1 | ) | Other income | ||||||||||||||||||||
Total | $ | 8.9 | $ | 0.8 | $ | 23.9 | ||||||||||||||||||||
Other_Income_Net_Tables
Other Income Net (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Other Cost and Expense Disclosure, Operating [Abstract] | ' | |||||||||||
Other Income, Net | ' | |||||||||||
Other income, net, comprises the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Interest and interest-related income | $ | 2.2 | $ | 2.4 | $ | 2.3 | ||||||
Antargaz Competition Authority matter | — | — | 9.4 | |||||||||
Utility non-tariff service income | 2.8 | 2.7 | 6.4 | |||||||||
Foreign currency hedge (loss) gain | (0.4 | ) | 0.5 | (6.1 | ) | |||||||
Finance charges | 21.4 | 18.8 | 15.1 | |||||||||
Loss on private equity partnership investment | (6.3 | ) | — | — | ||||||||
Other, net | 13.1 | 15.4 | 18.4 | |||||||||
Total other income, net | $ | 32.8 | $ | 39.8 | $ | 45.5 | ||||||
Quarterly_Data_Unaudited_Table
Quarterly Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||||||||||||||||||||||||||
Adjusted Unaudited Quarterly Data | ' | |||||||||||||||||||||||||||||||||||||||
The following unaudited quarterly data includes adjustments (consisting only of normal recurring adjustments with the exception of those indicated below) which we consider necessary for a fair presentation unless otherwise indicated and reflects the revisions or restatements to correct the errors described in Note 3. Our quarterly results fluctuate because of the seasonal nature of our businesses. | ||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Mar-13 | 30-Jun-13 | September 30, 2013 (a) | |||||||||||||||||||||||||||||||||||||
As Previously Reported | Adjustments | As Revised (See Note 3) | As Previously Reported | Adjustments | As Restated (See Note 3) | As Previously Reported | Adjustments | As Revised (See Note 3) | ||||||||||||||||||||||||||||||||
Revenues | $ | 2,023.20 | $ | (4.5 | ) | $ | 2,018.70 | $ | 2,537.10 | $ | 5.6 | $ | 2,542.70 | $ | 1,372.30 | $ | 2 | $ | 1,374.30 | $ | 1,259.00 | |||||||||||||||||||
Costs and expenses: | ||||||||||||||||||||||||||||||||||||||||
Cost of sales (excluding depreciation shown below) | 1,218.80 | (3.3 | ) | 1,215.50 | 1,500.60 | (13.9 | ) | 1,486.70 | 827.9 | 8.9 | 836.8 | 785.4 | ||||||||||||||||||||||||||||
Operating and administrative expenses | 426.9 | — | 426.9 | 465.8 | (4.3 | ) | 461.5 | 404.7 | 2.8 | 407.5 | 396.1 | |||||||||||||||||||||||||||||
Utility taxes other than income taxes | 4.3 | — | 4.3 | 4.7 | — | 4.7 | 3.7 | — | 3.7 | 4.2 | ||||||||||||||||||||||||||||||
Depreciation | 71.8 | 0.7 | 72.5 | 71.7 | 2.3 | 74 | 76.5 | (0.1 | ) | 76.4 | 78.5 | |||||||||||||||||||||||||||||
Amortization | 15.3 | — | 15.3 | 15.6 | — | 15.6 | 15.4 | — | 15.4 | 15.4 | ||||||||||||||||||||||||||||||
Other income, net | (10.0 | ) | — | (10.0 | ) | (7.5 | ) | — | (7.5 | ) | (9.0 | ) | 2 | (7.0 | ) | (8.3 | ) | |||||||||||||||||||||||
1,727.10 | (2.6 | ) | 1,724.50 | 2,050.90 | (15.9 | ) | 2,035.00 | 1,319.20 | 13.6 | 1,332.80 | 1,271.30 | |||||||||||||||||||||||||||||
Operating income (loss) | 296.1 | (1.9 | ) | 294.2 | 486.2 | 21.5 | 507.7 | 53.1 | (11.6 | ) | 41.5 | (12.3 | ) | |||||||||||||||||||||||||||
Income (loss) from equity investees | — | — | — | 0.1 | — | 0.1 | — | — | — | (0.5 | ) | |||||||||||||||||||||||||||||
Interest expense | (60.3 | ) | (1.2 | ) | (61.5 | ) | (60.1 | ) | — | (60.1 | ) | (59.2 | ) | — | (59.2 | ) | (59.5 | ) | ||||||||||||||||||||||
Income (loss) before income taxes | 235.8 | (3.1 | ) | 232.7 | 426.2 | 21.5 | 447.7 | (6.1 | ) | (11.6 | ) | (17.7 | ) | (72.3 | ) | |||||||||||||||||||||||||
Income tax (expense) benefit | (65.1 | ) | 0.2 | (64.9 | ) | (100.0 | ) | (6.0 | ) | (106.0 | ) | (9.0 | ) | 3.9 | (5.1 | ) | 13.2 | |||||||||||||||||||||||
Net income (loss) | 170.7 | (2.9 | ) | 167.8 | 326.2 | 15.5 | 341.7 | (15.1 | ) | (7.7 | ) | (22.8 | ) | (59.1 | ) | |||||||||||||||||||||||||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | (68.1 | ) | 2.8 | (65.3 | ) | (154.3 | ) | (6.7 | ) | (161.0 | ) | 29.8 | 2.1 | 31.9 | 44.9 | |||||||||||||||||||||||||
Net income (loss) attributable to UGI Corporation | $ | 102.6 | $ | (0.1 | ) | $ | 102.5 | $ | 171.9 | $ | 8.8 | $ | 180.7 | $ | 14.7 | $ | (5.6 | ) | $ | 9.1 | $ | (14.2 | ) | |||||||||||||||||
Earnings (loss) per common share attributable to UGI Corporation stockholders: | ||||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.91 | $ | 0.91 | $ | 1.51 | $ | 1.59 | $ | 0.13 | $ | 0.08 | $ | (0.12 | ) | |||||||||||||||||||||||||
Diluted | $ | 0.9 | $ | 0.9 | $ | 1.49 | $ | 1.57 | $ | 0.13 | $ | 0.08 | $ | (0.12 | ) | |||||||||||||||||||||||||
Average common shares outstanding (thousands): | ||||||||||||||||||||||||||||||||||||||||
Basic | 113,136 | 113,136 | 113,709 | 113,709 | 114,240 | 114,240 | 114,598 | |||||||||||||||||||||||||||||||||
Diluted | 114,490 | 114,490 | 115,199 | 115,199 | 116,196 | 116,196 | 114,598 | |||||||||||||||||||||||||||||||||
December 31, 2011 (b) | March 31, 2012 (c) | 30-Jun-12 | 30-Sep-12 | |||||||||||||||||||||||||||||||||||||
As Previously Reported | Adjustments | As Restated (See Note 3) | As Previously Reported | Adjustments | As Revised (See Note 3) | As Previously Reported | Adjustments | As Restated (See Note 3) | As Previously Reported | Adjustments | As Revised (See Note 3) | |||||||||||||||||||||||||||||
Revenues | $ | 1,688.80 | $ | (2.0 | ) | $ | 1,686.80 | $ | 2,427.50 | $ | 0.3 | $ | 2,427.80 | $ | 1,277.20 | $ | 3.5 | $ | 1,280.70 | $ | 1,125.70 | $ | 0.3 | $ | 1,126.00 | |||||||||||||||
Costs and expenses: | — | |||||||||||||||||||||||||||||||||||||||
Cost of sales (excluding depreciation shown below) | 1,101.80 | 20.5 | 1,122.30 | 1,526.60 | (2.3 | ) | 1,524.30 | 810.2 | (17.5 | ) | 792.7 | 672.6 | (12.8 | ) | 659.8 | |||||||||||||||||||||||||
Operating and administrative expenses | 342.4 | 0.3 | 342.7 | 443.3 | 0.5 | 443.8 | 405.8 | (1.3 | ) | 404.5 | 400.2 | (0.1 | ) | 400.1 | ||||||||||||||||||||||||||
Utility taxes other than income taxes | 4.1 | — | 4.1 | 4.9 | — | 4.9 | 3.9 | — | 3.9 | 4.4 | — | 4.4 | ||||||||||||||||||||||||||||
Depreciation | 52.8 | 0.1 | 52.9 | 68.7 | (0.2 | ) | 68.5 | 69.5 | (0.1 | ) | 69.4 | 73.2 | (0.8 | ) | 72.4 | |||||||||||||||||||||||||
Amortization | 7.5 | — | 7.5 | 14.1 | — | 14.1 | 15.1 | — | 15.1 | 15.1 | — | 15.1 | ||||||||||||||||||||||||||||
Other income, net | (8.1 | ) | — | (8.1 | ) | (10.9 | ) | (1.9 | ) | (12.8 | ) | (8.1 | ) | — | (8.1 | ) | (11.2 | ) | 0.4 | (10.8 | ) | |||||||||||||||||||
1,500.50 | 20.9 | 1,521.40 | 2,046.70 | (3.9 | ) | 2,042.80 | 1,296.40 | (18.9 | ) | 1,277.50 | 1,154.30 | (13.3 | ) | 1,141.00 | ||||||||||||||||||||||||||
Operating income (loss) | 188.3 | (22.9 | ) | 165.4 | 380.8 | 4.2 | 385 | (19.2 | ) | 22.4 | 3.2 | (28.6 | ) | 13.6 | (15.0 | ) | ||||||||||||||||||||||||
Loss from equity investees | (0.1 | ) | — | (0.1 | ) | — | — | — | (0.1 | ) | — | (0.1 | ) | (0.1 | ) | — | (0.1 | ) | ||||||||||||||||||||||
Loss on extinguishments of debt | — | — | — | (13.4 | ) | — | (13.4 | ) | 0.1 | — | 0.1 | — | — | — | ||||||||||||||||||||||||||
Interest expense | (36.0 | ) | — | (36.0 | ) | (65.3 | ) | 2.8 | (62.5 | ) | (61.3 | ) | 0.4 | (60.9 | ) | (58.9 | ) | (2.1 | ) | (61.0 | ) | |||||||||||||||||||
Income (loss) before income taxes | 152.2 | (22.9 | ) | 129.3 | 302.1 | 7 | 309.1 | (80.5 | ) | 22.8 | (57.7 | ) | (87.6 | ) | 11.5 | (76.1 | ) | |||||||||||||||||||||||
Income tax (expense) benefit | (42.1 | ) | 8.8 | (33.3 | ) | (75.1 | ) | (2.1 | ) | (77.2 | ) | 4 | (8.1 | ) | (4.1 | ) | 13.6 | (5.9 | ) | 7.7 | ||||||||||||||||||||
Net income (loss) | 110.1 | (14.1 | ) | 96 | 227 | 4.9 | 231.9 | (76.5 | ) | 14.7 | (61.8 | ) | (74.0 | ) | 5.6 | (68.4 | ) | |||||||||||||||||||||||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | (23.1 | ) | 2 | (21.1 | ) | (93.6 | ) | (2.0 | ) | (95.6 | ) | 70.2 | (3.1 | ) | 67.1 | 59.3 | 2.8 | 62.1 | ||||||||||||||||||||||
Net income (loss) attributable to UGI Corporation | $ | 87 | $ | (12.1 | ) | $ | 74.9 | $ | 133.4 | $ | 2.9 | $ | 136.3 | $ | (6.3 | ) | $ | 11.6 | $ | 5.3 | $ | (14.7 | ) | $ | 8.4 | $ | (6.3 | ) | ||||||||||||
Earnings (loss) per common share attributable to UGI Corporation stockholders: | ||||||||||||||||||||||||||||||||||||||||
Basic | $ | 0.78 | $ | 0.67 | $ | 1.19 | $ | 1.21 | $ | (0.06 | ) | $ | 0.05 | $ | (0.13 | ) | $ | (0.06 | ) | |||||||||||||||||||||
Diluted | $ | 0.77 | $ | 0.66 | $ | 1.18 | $ | 1.2 | $ | (0.06 | ) | $ | 0.05 | $ | (0.13 | ) | $ | (0.06 | ) | |||||||||||||||||||||
Average common shares outstanding (thousands): | ||||||||||||||||||||||||||||||||||||||||
Basic | 112,240 | 112,240 | 112,510 | 112,510 | 112,726 | 112,726 | 112,868 | 112,868 | ||||||||||||||||||||||||||||||||
Diluted | 113,152 | 113,152 | 113,239 | 113,239 | 112,726 | 113,504 | 112,868 | 112,868 | ||||||||||||||||||||||||||||||||
The impacts of the corrections on the key financial metrics operating income (loss), net income (loss) attributable to UGI Corporation and diluted earnings (loss) per share for each of the relevant quarters in the two years ended September 30, 2013 is are follows: | ||||||||||||||||||||||||||||||||||||||||
Fiscal 2013 | Fiscal 2012 | |||||||||||||||||||||||||||||||||||||||
31-Dec-12 | 31-Mar-13 | 30-Jun-13 | 31-Dec-11 | 31-Mar-12 | 30-Jun-12 | 30-Sep-12 | ||||||||||||||||||||||||||||||||||
Operating income (loss): | ||||||||||||||||||||||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 0.7 | $ | 12.5 | $ | (6.9 | ) | (19.3 | ) | 2.2 | 18.5 | 15.5 | ||||||||||||||||||||||||||||
Partnership customer credits | (2.8 | ) | 7 | — | (3.2 | ) | (0.4 | ) | 3.2 | (1.4 | ) | |||||||||||||||||||||||||||||
Other (1) | 0.2 | 2 | (4.7 | ) | (0.4 | ) | 2.4 | 0.7 | (0.5 | ) | ||||||||||||||||||||||||||||||
Total | $ | (1.9 | ) | $ | 21.5 | $ | (11.6 | ) | $ | (22.9 | ) | $ | 4.2 | $ | 22.4 | $ | 13.6 | |||||||||||||||||||||||
Net income (loss) attributable to UGI Corporation: | ||||||||||||||||||||||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | 0.4 | $ | 7.3 | $ | (4.1 | ) | $ | (11.3 | ) | $ | 1.3 | $ | 10.8 | $ | 9.1 | ||||||||||||||||||||||||
Partnership customer credits | (0.4 | ) | 1.1 | — | (0.8 | ) | (0.1 | ) | 0.5 | (0.2 | ) | |||||||||||||||||||||||||||||
Other (1) | (0.1 | ) | 0.4 | (1.5 | ) | — | 1.7 | 0.3 | (0.5 | ) | ||||||||||||||||||||||||||||||
Total | $ | (0.1 | ) | $ | 8.8 | $ | (5.6 | ) | $ | (12.1 | ) | $ | 2.9 | $ | 11.6 | $ | 8.4 | |||||||||||||||||||||||
Diluted earnings (loss) per share attributable to UGI Corporation stockholders: | ||||||||||||||||||||||||||||||||||||||||
Midstream & Marketing hedge accounting | $ | — | $ | 0.06 | $ | (0.04 | ) | $ | (0.10 | ) | $ | 0.01 | $ | 0.1 | $ | 0.08 | ||||||||||||||||||||||||
Partnership customer credits | — | 0.01 | — | (0.01 | ) | — | — | — | ||||||||||||||||||||||||||||||||
Other (1) | — | 0.01 | (0.01 | ) | — | 0.02 | — | (0.01 | ) | |||||||||||||||||||||||||||||||
Total | $ | — | $ | 0.08 | $ | (0.05 | ) | $ | (0.11 | ) | $ | 0.03 | $ | 0.1 | $ | 0.07 | ||||||||||||||||||||||||
(1) Other adjustments principally relate to the timing of certain expense and income accruals. Other diluted earnings (loss) per share attributable to UGI Corporation stockholders also includes the impact of rounding. | ||||||||||||||||||||||||||||||||||||||||
The adjustments reflected in the tables above did not affect cash flows from operating activities, investing activities or financing activities for any of the quarterly periods. In addition, the adjustments above relating to the Midstream & Marketing hedge accounting did not affect total stockholders’ equity as these adjustments resulted in changes to accumulated other comprehensive income and retained earnings in equal and offsetting amounts. In addition, the adjustments related to Midstream & Marketing hedge accounting had no effect on consolidated assets and liabilities. The Partnership customer credits and other adjustments did not have a material effect on the consolidated balance sheets for all periods presented. | ||||||||||||||||||||||||||||||||||||||||
(a) | Includes impairment loss on private equity partnership investment which increased operating loss by $6.3 and net loss attributable to UGI Corporation by $3.7 or $0.03 per share (see Note 2). | |||||||||||||||||||||||||||||||||||||||
(b) | Includes adjustment to foreign tax credit valuation allowance which increased net income by $5.5 or $0.05 per diluted share (see Note 7). | |||||||||||||||||||||||||||||||||||||||
(c) | Includes loss on extinguishment of Partnership long-term debt which decreased net income attributable to UGI Corporation by $2.2 or $0.02 per diluted share (see Note 6). |
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||||||||||||
Midstream & Marketing | UGI International | |||||||||||||||||||||||||||||||||||
Total | Elim- | AmeriGas | Gas Utility | Energy Services | Electric Generation | Antargaz | Flaga & | Corporate & | ||||||||||||||||||||||||||||
inations | Propane | Other | Other (b) | |||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Revenues | $ | 7,194.70 | $ | (223.8 | ) | (c) | $ | 3,168.80 | $ | 839 | $ | 969.4 | $ | 71.4 | $ | 1,322.60 | $ | 856.6 | $ | 190.7 | ||||||||||||||||
Cost of sales | $ | 4,324.40 | $ | (217.5 | ) | (c) | $ | 1,657.20 | $ | 407.2 | $ | 836.9 | $ | 39.9 | $ | 845 | $ | 653.4 | $ | 102.3 | ||||||||||||||||
Operating income | $ | 831.1 | $ | (1.1 | ) | $ | 394.4 | $ | 196.5 | $ | 82.5 | $ | 7.5 | $ | 111.4 | $ | 35.6 | $ | 4.3 | |||||||||||||||||
Loss from equity investees | $ | (0.4 | ) | — | — | — | — | — | (0.4 | ) | — | — | ||||||||||||||||||||||||
Interest expense | $ | (240.3 | ) | — | (166.6 | ) | (37.4 | ) | (3.2 | ) | — | (25.3 | ) | (5.1 | ) | (2.7 | ) | |||||||||||||||||||
Income before income taxes | $ | 590.4 | $ | (1.1 | ) | $ | 227.8 | $ | 159.1 | $ | 79.3 | $ | 7.5 | $ | 85.7 | $ | 30.5 | $ | 1.6 | |||||||||||||||||
Net income attributable to UGI | $ | 278.1 | $ | (0.6 | ) | $ | 47.5 | $ | 94.3 | $ | 46.3 | $ | 6.2 | $ | 57.2 | $ | 25.5 | $ | 1.7 | |||||||||||||||||
Depreciation and amortization | $ | 363.1 | $ | — | $ | 205.9 | $ | 51.7 | $ | 7.6 | $ | 10 | $ | 57.6 | $ | 24.1 | $ | 6.2 | ||||||||||||||||||
Noncontrolling interests’ net income (loss) | $ | 149.5 | $ | — | $ | 149.6 | $ | — | $ | — | $ | — | $ | (0.2 | ) | $ | 0.1 | $ | — | |||||||||||||||||
Partnership EBITDA (a) | $ | 596.5 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 10,008.80 | $ | (100.3 | ) | $ | 4,429.30 | $ | 2,069.00 | $ | 501.2 | $ | 269.7 | $ | 1,784.40 | $ | 667.1 | $ | 388.4 | |||||||||||||||||
Bank loans | $ | 227.9 | $ | — | $ | 116.9 | $ | 17.5 | $ | 87 | $ | — | $ | — | $ | 6.5 | $ | — | ||||||||||||||||||
Capital expenditures | $ | 489.1 | $ | (1.1 | ) | $ | 111.1 | $ | 144.4 | $ | 133.8 | $ | 22.6 | $ | 53.4 | $ | 17.4 | $ | 7.5 | |||||||||||||||||
Investments in equity investees | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||
Goodwill | $ | 2,873.70 | $ | — | $ | 1,941.00 | $ | 182.1 | $ | 2.8 | $ | — | $ | 643.7 | $ | 97.1 | $ | 7 | ||||||||||||||||||
Midstream & Marketing | UGI International | |||||||||||||||||||||||||||||||||||
Total | Elim- | AmeriGas | Gas Utility | Energy Services | Electric Generation | Antargaz | Flaga & | Corporate & | ||||||||||||||||||||||||||||
inations | Propane | Other | Other (b) | |||||||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||
Revenues | $ | 6,521.30 | $ | (178.8 | ) | (c) | $ | 2,921.50 | $ | 785.4 | $ | 816.4 | $ | 43.9 | $ | 1,121.40 | $ | 824.7 | $ | 186.8 | ||||||||||||||||
Cost of sales | $ | 4,099.10 | $ | (174.0 | ) | (c) | $ | 1,722.40 | $ | 402.5 | $ | 701.9 | $ | 28 | $ | 685.5 | $ | 640.3 | $ | 92.5 | ||||||||||||||||
Operating income (loss) | $ | 538.6 | $ | — | $ | 168.7 | $ | 174.1 | $ | 70.8 | $ | (6.5 | ) | $ | 88.3 | $ | 23.6 | $ | 19.6 | |||||||||||||||||
Loss from equity investees | $ | (0.3 | ) | — | — | — | — | — | (0.3 | ) | — | — | ||||||||||||||||||||||||
Loss on extinguishments of debt | $ | (13.3 | ) | — | (13.3 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||
Interest expense | $ | (220.4 | ) | — | (141.5 | ) | (40.1 | ) | (4.8 | ) | — | (26.3 | ) | (4.6 | ) | (3.1 | ) | |||||||||||||||||||
Income (loss) before income taxes | $ | 304.6 | $ | — | $ | 13.9 | $ | 134 | $ | 66 | $ | (6.5 | ) | $ | 61.7 | $ | 19 | $ | 16.5 | |||||||||||||||||
Net income (loss) attributable to UGI | $ | 210.2 | $ | — | $ | 15.4 | $ | 81.6 | $ | 38.7 | $ | (1.0 | ) | $ | 51.4 | $ | 13.8 | $ | 10.3 | |||||||||||||||||
Depreciation and amortization | $ | 315 | $ | — | $ | 168.1 | $ | 49 | $ | 3.7 | $ | 9 | $ | 57.1 | $ | 22.1 | $ | 6 | ||||||||||||||||||
Noncontrolling interests’ net (loss) income | $ | (12.5 | ) | $ | — | $ | (12.7 | ) | $ | — | $ | — | $ | — | $ | 0.2 | $ | — | $ | — | ||||||||||||||||
Partnership EBITDA (a) | $ | 322.1 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 9,676.90 | $ | (104.1 | ) | $ | 4,533.80 | $ | 2,045.50 | $ | 368.5 | $ | 258.2 | $ | 1,686.50 | $ | 531.8 | $ | 356.7 | |||||||||||||||||
Bank loans | $ | 165.1 | $ | — | $ | 49.9 | $ | 9.2 | $ | 85 | $ | — | $ | — | $ | 21 | $ | — | ||||||||||||||||||
Capital expenditures | $ | 343.2 | $ | — | $ | 103.1 | $ | 109 | $ | 36 | $ | 24.4 | $ | 47.3 | $ | 16.9 | $ | 6.5 | ||||||||||||||||||
Investments in equity investees | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||
Goodwill | $ | 2,818.30 | $ | — | $ | 1,919.20 | $ | 182.1 | $ | 2.8 | $ | — | $ | 612 | $ | 95.2 | $ | 7 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||||||||||||||
Revenues | $ | 6,090.90 | $ | (233.0 | ) | (c) | $ | 2,538.20 | $ | 1,026.40 | $ | 1,023.80 | $ | 48.6 | $ | 1,050.60 | $ | 438.1 | $ | 198.2 | ||||||||||||||||
Cost of sales | $ | 3,982.70 | $ | (228.6 | ) | (c) | $ | 1,605.40 | $ | 610.6 | $ | 904.5 | $ | 30.4 | $ | 649.8 | $ | 321 | $ | 89.6 | ||||||||||||||||
Operating income (loss) | $ | 642.4 | $ | — | $ | 241.6 | $ | 199.6 | $ | 81.9 | $ | (1.1 | ) | $ | 89.2 | $ | (3.1 | ) | $ | 34.3 | ||||||||||||||||
Loss from equity investees | $ | (0.9 | ) | — | — | — | — | — | (0.9 | ) | — | — | ||||||||||||||||||||||||
Loss on extinguishments of debt | $ | (38.1 | ) | — | (38.1 | ) | — | — | — | — | — | — | ||||||||||||||||||||||||
Interest expense | $ | (138.0 | ) | — | (63.5 | ) | (40.4 | ) | (2.0 | ) | (0.7 | ) | (25.5 | ) | (2.7 | ) | (3.2 | ) | ||||||||||||||||||
Income (loss) before income taxes | $ | 465.4 | $ | — | $ | 140 | $ | 159.2 | $ | 79.9 | $ | (1.8 | ) | $ | 62.8 | $ | (5.8 | ) | $ | 31.1 | ||||||||||||||||
Net income attributable to UGI | $ | 245.4 | $ | — | $ | 39.5 | $ | 99.3 | $ | 47.1 | $ | 0.9 | $ | 44.2 | $ | (3.2 | ) | $ | 17.6 | |||||||||||||||||
Depreciation and amortization | $ | 227.7 | $ | — | $ | 94.5 | $ | 48.4 | $ | 2.4 | $ | 5.6 | $ | 52.1 | $ | 18.5 | $ | 6.2 | ||||||||||||||||||
Noncontrolling interests’ net income | $ | 74.6 | $ | — | $ | 74.3 | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | $ | — | ||||||||||||||||||
Partnership EBITDA (a) | $ | 295.6 | ||||||||||||||||||||||||||||||||||
Total assets | $ | 6,660.90 | $ | (93.3 | ) | $ | 1,798.00 | $ | 2,028.70 | $ | 338.2 | $ | 242.5 | $ | 1,636.60 | $ | 428.8 | $ | 281.4 | |||||||||||||||||
Bank loans | $ | 138.7 | $ | — | $ | 95.5 | $ | — | $ | 24.3 | $ | — | $ | — | $ | 18.9 | $ | — | ||||||||||||||||||
Capital expenditures | $ | 355.6 | $ | — | $ | 77.2 | $ | 91.3 | $ | 63.1 | $ | 49.7 | $ | 48.9 | $ | 16.5 | $ | 8.9 | ||||||||||||||||||
Investments in equity investees | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.3 | $ | — | ||||||||||||||||||
Goodwill | $ | 1,562.20 | $ | — | $ | 696.3 | $ | 182.1 | $ | 2.8 | $ | — | $ | 591.8 | $ | 82.2 | $ | 7 | ||||||||||||||||||
(a) | The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income: | |||||||||||||||||||||||||||||||||||
Year ended September 30, | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||
Partnership EBITDA | $ | 596.5 | $ | 322.1 | $ | 295.6 | ||||||||||||||||||||||||||||||
Depreciation and amortization | (205.9 | ) | (168.1 | ) | (94.5 | ) | ||||||||||||||||||||||||||||||
Loss on extinguishments of debt | — | 13.3 | 38.1 | |||||||||||||||||||||||||||||||||
Noncontrolling interests (i) | 3.8 | 1.4 | 2.4 | |||||||||||||||||||||||||||||||||
Operating income | $ | 394.4 | $ | 168.7 | $ | 241.6 | ||||||||||||||||||||||||||||||
(i) | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP. | |||||||||||||||||||||||||||||||||||
(b) | Corporate & Other results principally comprise (1) Electric Utility, (2) Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVAC”), (3) changes in the fair values of Midstream & Marketing’s unsettled commodity derivative instruments and gains and losses on settled commodity derivative instruments not associated with current period transactions, (4) net expenses of UGI’s captive general liability insurance company, and (5) UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC, and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation. | |||||||||||||||||||||||||||||||||||
(c) | Represents the elimination of intersegment transactions principally among Midstream & Marketing, Gas Utility and AmeriGas Propane. |
Nature_of_Operations_Details
Nature of Operations (Details) | Sep. 30, 2013 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
General Partner held a general partner interest in AmeriGas Partners | 1.00% |
Percentage of our limited partnership interest in AmeriGas Partners | 25.30% |
Effective Ownership interest in AmeriGas OLP | 27.10% |
Limited partnership Common Units Held in AmeriGas Partners (in units) | 23,756,882 |
General public as limited partner interests in AmeriGas Partners | 73.70% |
Common Units Owned by Public (in units) | 47,000,295 |
Number of Units Held by Affiliates (in units) | 22,067,362 |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Shares used in computing basic and diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Average common shares outstanding for basic computation | 114,598 | 114,240 | 113,709 | 113,136 | 112,868 | 112,726 | 112,510 | 112,240 | 113,923 | [1] | 112,581 | [1] | 111,674 | |
Incremental shares issuable for stock options and common stock awards | ' | ' | ' | ' | ' | ' | ' | ' | 1,598 | [1] | 851 | [1] | 1,270 | [1] |
Average common shares outstanding for diluted computation | 114,598 | 116,196 | 115,199 | 114,490 | 112,868 | 113,504 | 113,239 | 113,152 | 115,521 | [1] | 113,432 | [1] | 112,944 | |
[1] | For Fiscal 2013, Fiscal 2012 and Fiscal 2011, there were approximately 88 shares, 81 shares and 3,700 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive. |
Significant_Accounting_Policie4
Significant Accounting Policies (Details 1) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Components of AOCI | ' | ' |
Postretirement Benefit Plans | ($16.40) | ($22.90) |
Derivative Instruments Net Losses | -26.9 | -52 |
Foreign Currency Translation Adjustments | 51.7 | 19.7 |
Total | $8.40 | ($55.20) |
Significant_Accounting_Policie5
Significant Accounting Policies (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Ownership interests in certain subsidiaries under equity method investment | ' | '100% or Less | ' | ' |
Ownership interests in certain subsidiaries under equity method investment, maximum | ' | 100.00% | ' | ' |
Voting rights in investment businesses not traded publicly accounted for under the cost method | ' | '20% or Less | ' | ' |
Interest (income) expense on tax deficiencies and penalties | ' | $0 | ($0.10) | $0.20 |
Antidilutive outstanding stock option award | ' | 88,000 | 81,000 | 3,700,000 |
Maturities Period of highly liquid investments | ' | 'three months or less | ' | ' |
Estimated maximum period of capitalized and amortized costs to install partnership and antargaz-owned tanks | ' | '10 years | ' | ' |
Maximum period of benefit for computer software amortization expense | ' | '15 years | ' | ' |
Other-than-temporary impairment of an investment in a private equity partnership pre-tax loss | 6.3 | 6.3 | 0 | 0 |
Net deferred debt issuance costs | 39.4 | 39.4 | 46.6 | ' |
Foreign subsidiary customer deposits | 214.6 | 214.6 | 205.1 | ' |
Average to Include Prudently Incurred Remediation Costs | ' | '5 years | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Voting rights in investment businesses not traded publicly accounted for under the cost method, maximum | ' | 20.00% | ' | ' |
Investments in other assets | 82 | 82 | 80 | ' |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '15 years | ' | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '40 years | ' | ' |
Storage and customer tanks and cylinders [Member] | Minimum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '7 years | ' | ' |
Storage and customer tanks and cylinders [Member] | Maximum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '40 years | ' | ' |
Electric Utility [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation expense as percentage of related average depreciable base | ' | 2.40% | 2.40% | 2.60% |
Electric Generation, Transmission and Distribution Equipment [Member] | Minimum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '25 years | ' | ' |
Electric Generation, Transmission and Distribution Equipment [Member] | Maximum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '35 years | ' | ' |
Vehicles, equipment and office furniture and fixtures [Member] | Minimum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '2 years | ' | ' |
Vehicles, equipment and office furniture and fixtures [Member] | Maximum [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life (in years) | ' | '12 years | ' | ' |
Gas Utility [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation expense as percentage of related average depreciable base | ' | 2.30% | 2.20% | 2.30% |
Private Equity Partnership That Invests in Renewable Energy Companies [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Voting rights in investment businesses not traded publicly accounted for under the cost method, maximum | ' | 3.50% | ' | ' |
Investments in other assets | $16.40 | $16.40 | $20 | ' |
Revisions_and_Restatements_of_2
Revisions and Restatements of Consolidated Financial Statements - Balance Sheet (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2013 |
Accounts receivable | $627.50 | $745.60 |
Inventories | 354.1 | 365.5 |
Deferred income taxes | 29.8 | 10.6 |
Prepaid expenses and other current assets | 99.5 | 57.1 |
Non-utility property, plant and equipment | 4,223.90 | 4,612.70 |
Accumulated depreciation and amortization | -2,285.20 | -2,560.30 |
Accounts payable | 409.9 | 472.3 |
Employee compensation and benefits accrued | 89.7 | 97 |
Accrued interest | 71.6 | 60.6 |
Other current liabilities | 225.6 | 264.7 |
Deferred income taxes | 905.7 | 962.3 |
Other noncurrent liabilities | 621.3 | 527.2 |
Retained earnings | 1,156 | 1,308.30 |
Accumulated other comprehensive income (loss) | -55.2 | 8.4 |
Noncontrolling interests, principally in AmeriGas Partners | 1,085.60 | 1,055.40 |
Error correction, decrease in current deferred income taxes; total current assets and total assets; long-term deferred income tax liabilities; total liabilities; and total liabilities and equity | 27 | ' |
As Previously Reported | ' | ' |
Accounts receivable | 632.6 | ' |
Inventories | 356.9 | ' |
Deferred income taxes | 56.8 | ' |
Prepaid expenses and other current assets | 98.7 | ' |
Non-utility property, plant and equipment | 4,223.40 | ' |
Accumulated depreciation and amortization | -2,286 | ' |
Accounts payable | 411.3 | ' |
Employee compensation and benefits accrued | 91.1 | ' |
Accrued interest | 72.7 | ' |
Other current liabilities | 226.4 | ' |
Deferred income taxes | 935 | ' |
Other noncurrent liabilities | 616.7 | ' |
Retained earnings | 1,166.10 | ' |
Accumulated other comprehensive income (loss) | -62 | ' |
Noncontrolling interests, principally in AmeriGas Partners | 1,085.70 | ' |
Adjustment | ' | ' |
Accounts receivable | -5.1 | ' |
Inventories | -2.8 | ' |
Deferred income taxes | -27 | ' |
Prepaid expenses and other current assets | 0.8 | ' |
Non-utility property, plant and equipment | 0.5 | ' |
Accumulated depreciation and amortization | 0.8 | ' |
Accounts payable | -1.4 | ' |
Employee compensation and benefits accrued | -1.4 | ' |
Accrued interest | -1.1 | ' |
Other current liabilities | -0.8 | ' |
Deferred income taxes | -29.3 | ' |
Other noncurrent liabilities | 4.6 | ' |
Retained earnings | -10.1 | ' |
Accumulated other comprehensive income (loss) | 6.8 | ' |
Noncontrolling interests, principally in AmeriGas Partners | ($0.10) | ' |
Revisions_and_Restatements_of_3
Revisions and Restatements of Consolidated Financial Statements - Statements of Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Non-utility revenue | ' | ' | ' | ' | ' | ' | ' | ' | $6,255.70 | $5,638.80 | $4,955.40 |
Non-utility cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,858.40 | 3,640 | 3,304.20 |
Operating and administrative expenses | 396.1 | 407.5 | 461.5 | 426.9 | 400.1 | 404.5 | 443.8 | 342.7 | 1,692 | 1,591.10 | 1,267 |
Depreciation | 78.5 | 76.4 | 74 | 72.5 | 72.4 | 69.4 | 68.5 | 52.9 | 301.4 | 263.2 | 201 |
Other income, net | -8.3 | -7 | -7.5 | -10 | -10.8 | -8.1 | -12.8 | -8.1 | -32.8 | -39.8 | -45.5 |
Operating income | -12.3 | 41.5 | 507.7 | 294.2 | -15 | 3.2 | 385 | 165.4 | 831.1 | 538.6 | 642.4 |
Interest expense | -59.5 | -59.2 | -60.1 | -61.5 | -61 | -60.9 | -62.5 | -36 | -240.3 | -220.4 | -138 |
Income before income taxes | -72.3 | -17.7 | 447.7 | 232.7 | -76.1 | -57.7 | 309.1 | 129.3 | 590.4 | 304.6 | 465.4 |
Income taxes | 13.2 | -5.1 | -106 | -64.9 | 7.7 | -4.1 | -77.2 | -33.3 | -162.8 | -106.9 | -145.4 |
Net income | -59.1 | -22.8 | 341.7 | 167.8 | -68.4 | -61.8 | 231.9 | 96 | 427.6 | 197.7 | 320 |
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | 44.9 | 31.9 | -161 | -65.3 | 62.1 | 67.1 | -95.6 | -21.1 | -149.5 | 12.5 | -74.6 |
Net income attributable to UGI Corporation | -14.2 | 9.1 | 180.7 | 102.5 | -6.3 | 5.3 | 136.3 | 74.9 | 278.1 | 210.2 | 245.4 |
Basic earnings per share | ($0.12) | $0.08 | $1.59 | $0.91 | ($0.06) | $0.05 | $1.21 | $0.67 | $2.44 | $1.87 | $2.20 |
Diluted earnings per share | ($0.12) | $0.08 | $1.57 | $0.90 | ($0.06) | $0.05 | $1.20 | $0.66 | $2.41 | $1.85 | $2.17 |
As Previously Reported | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-utility revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,636.70 | 4,955.80 |
Non-utility cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,652.10 | 3,332.40 |
Operating and administrative expenses | ' | 404.7 | 465.8 | 426.9 | 400.2 | 405.8 | 443.3 | 342.4 | ' | 1,591.70 | 1,266.40 |
Depreciation | ' | 76.5 | 71.7 | 71.8 | 73.2 | 69.5 | 68.7 | 52.8 | ' | 264.2 | 201.2 |
Other income, net | ' | -9 | -7.5 | -10 | -11.2 | -8.1 | -10.9 | -8.1 | ' | -38.3 | -46.5 |
Operating income | ' | 53.1 | 486.2 | 296.1 | -28.6 | -19.2 | 380.8 | 188.3 | ' | 521.3 | 616 |
Interest expense | ' | -59.2 | -60.1 | -60.3 | -58.9 | -61.3 | -65.3 | -36 | ' | -221.5 | -138 |
Income before income taxes | ' | -6.1 | 426.2 | 235.8 | -87.6 | -80.5 | 302.1 | 152.2 | ' | 286.2 | 439 |
Income taxes | ' | -9 | -100 | -65.1 | 13.6 | 4 | -75.1 | -42.1 | ' | -99.6 | -130.8 |
Net income | ' | -15.1 | 326.2 | 170.7 | -74 | -76.5 | 227 | 110.1 | ' | 186.6 | 308.2 |
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | ' | 29.8 | -154.3 | -68.1 | 59.3 | 70.2 | -93.6 | -23.1 | ' | 12.8 | -75.3 |
Net income attributable to UGI Corporation | ' | 14.7 | 171.9 | 102.6 | -14.7 | -6.3 | 133.4 | 87 | ' | 199.4 | 232.9 |
Basic earnings per share | ' | $0.13 | $1.51 | $0.91 | ($0.13) | ($0.06) | $1.19 | $0.78 | ' | $1.77 | $2.09 |
Diluted earnings per share | ' | $0.13 | $1.49 | $0.90 | ($0.13) | ($0.06) | $1.18 | $0.77 | ' | $1.76 | $2.06 |
Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-utility revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.1 | -0.4 |
Non-utility cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | -12.1 | -28.2 |
Operating and administrative expenses | ' | 2.8 | -4.3 | ' | -0.1 | -1.3 | 0.5 | 0.3 | ' | -0.6 | 0.6 |
Depreciation | ' | -0.1 | 2.3 | 0.7 | -0.8 | -0.1 | -0.2 | 0.1 | ' | -1 | -0.2 |
Other income, net | ' | 2 | ' | ' | 0.4 | ' | -1.9 | ' | ' | -1.5 | 1 |
Operating income | ' | -11.6 | 21.5 | -1.9 | 13.6 | 22.4 | 4.2 | -22.9 | ' | 17.3 | 26.4 |
Interest expense | ' | ' | ' | -1.2 | -2.1 | 0.4 | 2.8 | ' | ' | 1.1 | ' |
Income before income taxes | ' | -11.6 | 21.5 | -3.1 | 11.5 | 22.8 | 7 | -22.9 | ' | 18.4 | 26.4 |
Income taxes | ' | 3.9 | -6 | 0.2 | -5.9 | -8.1 | -2.1 | 8.8 | ' | -7.3 | -14.6 |
Net income | ' | -7.7 | 15.5 | -2.9 | 5.6 | 14.7 | 4.9 | -14.1 | ' | 11.1 | 11.8 |
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | ' | 2.1 | -6.7 | 2.8 | 2.8 | -3.1 | -2 | 2 | ' | -0.3 | 0.7 |
Net income attributable to UGI Corporation | ' | ($5.60) | $8.80 | ($0.10) | $8.40 | $11.60 | $2.90 | ($12.10) | ' | $10.80 | $12.50 |
Diluted earnings per share | ' | ($0.05) | $0.08 | $0 | $0.07 | $0.10 | $0.03 | ($0.11) | ' | $0.09 | $0.11 |
Revisions_and_Restatements_of_4
Revisions and Restatements of Consolidated Financial Statements - Statements of Comprehensive Income (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net income | ($59.10) | ($22.80) | $341.70 | $167.80 | ($68.40) | ($61.80) | $231.90 | $96 | $427.60 | $197.70 | $320 |
Net gains (losses) on derivative instruments, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 14.4 | -105.4 | 3.9 |
Reclassifications of net gains (losses) on derivative instruments | ' | ' | ' | ' | ' | ' | ' | ' | 53.5 | 56.3 | -19 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 534 | 115.5 | 290.8 |
Comprehensive income attributable to UGI Corporation | ' | ' | ' | ' | ' | ' | ' | ' | 341.7 | 154.1 | 221.7 |
As Previously Reported | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | -15.1 | 326.2 | 170.7 | -74 | -76.5 | 227 | 110.1 | ' | 186.6 | 308.2 |
Net gains (losses) on derivative instruments, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | -127.1 | -10.8 |
Reclassifications of net gains (losses) on derivative instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | 87.9 | 11.8 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114.3 | 295.1 |
Comprehensive income attributable to UGI Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 153.2 | 225.3 |
Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | -7.7 | 15.5 | -2.9 | 5.6 | 14.7 | 4.9 | -14.1 | ' | 11.1 | 11.8 |
Net gains (losses) on derivative instruments, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.7 | 14.7 |
Reclassifications of net gains (losses) on derivative instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | -31.6 | -30.8 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | -4.3 |
Comprehensive income attributable to UGI Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.90 | ($3.60) |
Revisions_and_Restatements_of_5
Revisions and Restatements of Consolidated Financial Statements - Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Net income | $427.60 | $197.70 | $320 |
Depreciation, Depletion and Amortization | 363.1 | 315 | 227.7 |
Deferred Income Tax Expense (Benefit) | 48.7 | 90.2 | 91.5 |
Net change in realized gains and losses deferred as cash flow hedges | ' | ' | ' |
Unrealized gains on derivative instruments | -0.2 | -17.2 | -19.6 |
Other, net | -41.4 | -11 | 4.3 |
As Previously Reported | ' | ' | ' |
Net income | ' | 186.6 | 308.2 |
Depreciation, Depletion and Amortization | ' | 316 | 227.9 |
Deferred Income Tax Expense (Benefit) | ' | 82.9 | 82.7 |
Net change in realized gains and losses deferred as cash flow hedges | ' | -6.6 | 12.2 |
Unrealized gains on derivative instruments | ' | 0 | 0 |
Other, net | ' | -10.7 | -7.1 |
Adjustment | ' | ' | ' |
Net income | ' | 11.1 | 11.8 |
Depreciation, Depletion and Amortization | ' | -1 | -0.2 |
Deferred Income Tax Expense (Benefit) | ' | 7.3 | 8.8 |
Net change in realized gains and losses deferred as cash flow hedges | ' | 6.6 | -12.2 |
Unrealized gains on derivative instruments | ' | -17.2 | -19.6 |
Other, net | ' | ' | 11.4 |
Classification correction excluded [Member] | ' | ' | ' |
Other, net | ' | -17.5 | ' |
Classification correction excluded [Member] | Adjustment | ' | ' | ' |
Other, net | ' | ($6.80) | ' |
Revisions_and_Restatements_of_6
Revisions and Restatements of Consolidated Financial Statements - Statements of Changes in Equity (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
In Millions, unless otherwise specified | ||||
Ending Balance | $2,492.50 | $2,229.80 | ' | ' |
Ending Balance | 3,547.90 | 3,315.40 | 2,186.50 | ' |
Retained earnings | ' | ' | ' | ' |
Ending Balance | 1,308.30 | 1,156 | 1,064.90 | 933.3 |
Retained earnings | As Previously Reported | ' | ' | ' | ' |
Ending Balance | ' | 1,166.10 | 1,085.80 | ' |
Retained earnings | Adjustment | ' | ' | ' | ' |
Ending Balance | ' | -10.1 | -20.9 | ' |
Accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Ending Balance | 8.4 | -55.2 | -1 | 22.8 |
Accumulated other comprehensive income (loss) | As Previously Reported | ' | ' | ' | ' |
Ending Balance | ' | -62 | -17.7 | ' |
Accumulated other comprehensive income (loss) | Adjustment | ' | ' | ' | ' |
Ending Balance | ' | 6.8 | 16.7 | ' |
Noncontrolling interests | ' | ' | ' | ' |
Ending Balance | 1,055.40 | 1,085.60 | 213 | 237.4 |
Noncontrolling interests | As Previously Reported | ' | ' | ' | ' |
Ending Balance | ' | 1,085.70 | 213.4 | ' |
Noncontrolling interests | Adjustment | ' | ' | ' | ' |
Ending Balance | ' | ($0.10) | ($0.40) | ' |
Revisions_and_Restatements_of_7
Revisions and Restatements of Consolidated Financial Statements - Key Financial Metrics (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Operating income | ($12.30) | $41.50 | $507.70 | $294.20 | ($15) | $3.20 | $385 | $165.40 | $831.10 | $538.60 | $642.40 |
Net income attributable to UGI Corporation | -14.2 | 9.1 | 180.7 | 102.5 | -6.3 | 5.3 | 136.3 | 74.9 | 278.1 | 210.2 | 245.4 |
Diluted (in dollars per share) | ($0.12) | $0.08 | $1.57 | $0.90 | ($0.06) | $0.05 | $1.20 | $0.66 | $2.41 | $1.85 | $2.17 |
Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | ' | -11.6 | 21.5 | -1.9 | 13.6 | 22.4 | 4.2 | -22.9 | ' | 17.3 | 26.4 |
Net income attributable to UGI Corporation | ' | -5.6 | 8.8 | -0.1 | 8.4 | 11.6 | 2.9 | -12.1 | ' | 10.8 | 12.5 |
Diluted (in dollars per share) | ' | ($0.05) | $0.08 | $0 | $0.07 | $0.10 | $0.03 | ($0.11) | ' | $0.09 | $0.11 |
Midstream & Marketing hedge accounting | Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | ' | -6.9 | 12.5 | 0.7 | 15.5 | 18.5 | 2.2 | -19.3 | ' | 17 | 27.6 |
Net income attributable to UGI Corporation | ' | -4.1 | 7.3 | 0.4 | 9.1 | 10.8 | 1.3 | -11.3 | ' | 10 | 16.2 |
Diluted (in dollars per share) | ' | ($0.04) | $0.06 | $0 | $0.08 | $0.10 | $0.01 | ($0.10) | ' | $0.09 | $0.14 |
Partnership customer credits | Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | ' | 0 | 7 | -2.8 | -1.4 | 3.2 | -0.4 | -3.2 | ' | -1.8 | 0.1 |
Net income attributable to UGI Corporation | ' | 0 | 1.1 | -0.4 | -0.2 | 0.5 | -0.1 | -0.8 | ' | -0.6 | 0 |
Diluted (in dollars per share) | ' | $0 | $0.01 | $0 | $0 | $0 | $0 | ($0.01) | ' | $0 | $0 |
Other | Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating income | ' | -4.7 | 2 | 0.2 | -0.5 | 0.7 | 2.4 | -0.4 | ' | 2.1 | -1.3 |
Net income attributable to UGI Corporation | ' | ($1.50) | $0.40 | ($0.10) | ($0.50) | $0.30 | $1.70 | $0 | ' | $1.40 | ($3.70) |
Diluted (in dollars per share) | ' | ($0.01) | $0.01 | $0 | ($0.01) | $0 | $0.02 | $0 | ' | $0 | ($0.03) |
Acquisitions_and_Dispositions_1
Acquisitions and Dispositions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | |
Finite Lived Intangible Asset Useful Life | ' | ' | |
Estimated useful life (in years) | '15 years | ' | |
Heritage Propane [Member] | ' | ' | |
Assets acquired: | ' | ' | |
Current assets | ' | 301.4 | |
Property, plant & equipment | ' | 890.2 | |
Customer relationships (estimated useful life of 15 years) | ' | 418.9 | |
Trademarks and tradenames | ' | 91.1 | [1] |
Goodwill | ' | 1,217.70 | [1] |
Other assets | ' | 9.9 | |
Total assets acquired | ' | 2,929.20 | |
Liabilities assumed: | ' | ' | |
Current liabilities | ' | -238.1 | |
Long-term debt | ' | -62.9 | |
Other noncurrent liabilities | ' | -23.4 | |
Total liabilities assumed | ' | -324.4 | |
Total | ' | 2,604.80 | |
Customer Relationships [Member] | Heritage Propane [Member] | ' | ' | |
Finite Lived Intangible Asset Useful Life | ' | ' | |
Estimated useful life (in years) | '15 years | '15 years | |
[1] | During Fiscal 2013, the Partnership made a correcting adjustment to trademarks and tradenames and goodwill which is not reflected in the table above. See Note 12. |
Acquisitions_and_Dispositions_2
Acquisitions and Dispositions (Details 2) (Heritage Propane [Member], USD $) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2011 |
Heritage Propane [Member] | ' | ' |
Partnership unaudited consolidated results of operations | ' | ' |
Revenues | $7,013 | $7,522.10 |
Net income attributable to UGI Corporation | $208.40 | $236 |
Earnings per common share attributable to UGI Corporation stockholders: | ' | ' |
Basic (in dollars per share) | $1.85 | $2.11 |
Diluted (in dollars per share) | $1.84 | $2.09 |
Acquisitions_and_Dispositions_3
Acquisitions and Dispositions (Details Textual) (Details) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Jan. 12, 2012 | Jun. 30, 2012 | Apr. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Oct. 31, 2011 | Oct. 31, 2011 | Jan. 12, 2012 | Jan. 12, 2012 | Jan. 12, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2013 | Jan. 12, 2012 | Jan. 12, 2012 | Jan. 12, 2012 | Jan. 12, 2012 | Jan. 12, 2012 | |
USD ($) | USD ($) | USD ($) | Heritage Propane [Member] | Heritage Propane [Member] | Heritage Propane [Member] | Heritage Propane [Member] | Heritage Propane [Member] | UGI International [Member] | UGI International [Member] | Energy Transfer Partners, LP [Member] | Heritage Operating LP [Member] | Titan Energy GP LLC [Member] | Amerigas [Member] | Amerigas [Member] | Amerigas [Member] | UGI International [Member] | UGI International [Member] | Atlantic Energy [Member] | Amerigas Partners Senior Notes Due 2020 [Member] | Amerigas Partners Senior Notes Due 2020 [Member] | Amerigas Partners Senior Notes Due 2022 [Member] | Amerigas Partners Senior Notes Due 2022 [Member] | General Partner [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | Customer | USD ($) | EUR (€) | States | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Heritage Propane [Member] | Heritage Propane [Member] | Heritage Propane [Member] | ||||||||
gal | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price of the acquisition | ' | ' | ' | $2,598,200,000 | ' | ' | ' | ' | $179,000,000 | € 133,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquired by parent through subsidiaries for cash | ' | ' | ' | 1,465,600,000 | ' | ' | 1,472,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common units issued by AmeriGas Partners (in units) | ' | ' | ' | 29,567,362 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Equity Interests Issued and Issuable | ' | ' | ' | 1,132,600,000 | ' | ' | 1,132,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Working Capital Adjustment, Additional Cash Paid | ' | ' | ' | ' | ' | 25,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price adjustment cash received | ' | ' | ' | ' | 18,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in which business operates (in states) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Delivery of Propane by Acquired Subsidiary (in gallons) | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Retail Customer (in customers) | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Contribution by Contributor in Form of Limited Partner Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 99.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Contribution by Contributor in Form of Membership Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Remaining Contribution by Contributor in Form of General Partner Interest | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | 0.01% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Partners' Capital Account, Units, Contributed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 934,327 |
Partners' Capital Account, Contributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,700,000 |
Long-term Debt | 3,609,400,000 | 3,514,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550,000,000 | ' | 1,000,000,000 | ' |
Interest rate stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | 6.75% | 7.00% | 7.00% | ' |
Business Acquisition, Purchase Price Allocation, Current Assets, Cash and Cash Equivalents | ' | ' | ' | ' | ' | ' | 60,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Acquisition Related Costs | ' | ' | ' | ' | ' | ' | 5,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash consideration to acquire business | $78,900,000 | $1,580,500,000 | $52,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 | $13,500,000 | $34,000,000 | $36 | $19,000,000 | $23 | ' | ' | ' | ' | ' |
Debt_Details
Debt (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Aug. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | 6.25%, Due August 2019 [Member] | Other [Member] | Other [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | AmeriGas Propane [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | ||
7.00%, due May 2022 [Member] | 7.00%, due May 2022 [Member] | 6.75%, due May 2020 [Member] | 6.75%, due May 2020 [Member] | 6.50%, Due May 2021 [Member] | 6.50%, Due May 2021 [Member] | 6.25%, Due August 2019 [Member] | 6.25%, Due August 2019 [Member] | HOLP Senior Secured Notes [Member] | HOLP Senior Secured Notes [Member] | Other [Member] | Other [Member] | Antargaz Senior Facilities term loan, due through March 2016 [Member] | Antargaz Senior Facilities term loan, due through March 2016 [Member] | Flaga term loan due September 2016 [Member] | Flaga term loan due September 2016 [Member] | Flaga term loan due through September 2016 [Member] | Flaga term loan due through September 2016 [Member] | Flaga term loan due October 2016 [Member] | Flaga term loan due October 2016 [Member] | Flaga term loan due through June 2014 [Member] | Other [Member] | Other [Member] | Term Loan Credit Agreement [Member] | Term Loan Credit Agreement [Member] | 6.375%, due September 2013 [Member] | 6.375%, due September 2013 [Member] | 5.75%, due September 2016 [Member] | 5.75%, due September 2016 [Member] | 6.21%, due September 2036 [Member] | 6.21%, due September 2036 [Member] | Medium Term Notes Due September 2012 [Member] | 5.37%, due August 2013 [Member] | 5.37%, due August 2013 [Member] | 5.16%, due May 2015 [Member] | 5.16%, due May 2015 [Member] | 7.37%, due October 2015 [Member] | 7.37%, due October 2015 [Member] | 5.64%, due December 2015 [Member] | 5.64%, due December 2015 [Member] | 6.17%, due June 2017 [Member] | 6.17%, due June 2017 [Member] | 7.25%, due November 2017 [Member] | 7.25%, due November 2017 [Member] | 5.67%, due January 2018 [Member] | 5.67%, due January 2018 [Member] | 6.50%, due August 2033 [Member] | 6.50%, due August 2033 [Member] | 6.13%, due October 2034 [Member] | 6.13%, due October 2034 [Member] | ||||||||||||
Long-Term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | $3,609.40 | $3,514.30 | ' | $12.90 | $12.40 | $2,300.10 | $2,328 | $980.80 | $980.80 | $550 | $550 | $270 | $270 | $450 | $450 | $32 | $55.60 | $17.30 | $21.60 | $654.40 | $573.90 | $514 | $488.70 | $52 | $0 | $54.10 | $51.40 | $25.80 | $24.60 | $3.60 | $6.60 | $5.60 | $642 | $600 | $175 | $0 | $0 | $108 | $175 | $175 | $100 | $100 | ' | $0 | $25 | $20 | $20 | $22 | $22 | $50 | $50 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 |
Less: current maturities | -67.2 | -166.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt due after one year | $3,542.20 | $3,347.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate stated percentage | ' | ' | 6.25% | ' | ' | ' | ' | 7.00% | ' | 6.75% | ' | 6.50% | ' | 6.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.38% | ' | 5.75% | ' | 6.21% | ' | 5.53% | 5.37% | ' | 5.16% | ' | 7.37% | ' | 5.64% | ' | 6.17% | ' | 7.25% | ' | 5.67% | ' | 6.50% | ' | 6.13% | ' |
Debt_Details_1
Debt (Details 1) (USD $) | Sep. 30, 2013 | |
In Millions, unless otherwise specified | ||
Principal Repayment of long-term debt | ' | |
2014 | $68 | |
2015 | 77.9 | |
2016 | 778.1 | |
2017 | 52.4 | |
2018 | 45.6 | |
Other [Member] | ' | |
Principal Repayment of long-term debt | ' | |
2014 | 0.6 | |
2015 | 0.7 | |
2016 | 0.7 | |
2017 | 0.7 | |
2018 | 0.8 | |
AmeriGas Propane [Member] | ' | |
Principal Repayment of long-term debt | ' | |
2014 | 12 | |
2015 | 9.3 | |
2016 | 7 | |
2017 | 5 | |
2018 | 4.3 | |
UGI Utilities [Member] | ' | |
Principal Repayment of long-term debt | ' | |
2014 | ' | [1] |
2015 | 20 | [1] |
2016 | 247 | [1] |
2017 | 20 | [1] |
2018 | 40 | [1] |
UGI International [Member] | ' | |
Principal Repayment of long-term debt | ' | |
2014 | 55.4 | |
2015 | 47.9 | |
2016 | 523.4 | |
2017 | 26.7 | |
2018 | $0.50 | |
[1] | $175 Term Loan Credit Agreement borrowings anticipated to be refinanced on a long-term basis in March 2014 pursuant to a Note Purchase Agreement as further described below are excluded from the table above. |
Debt_AmeriGas_Propane_Narrativ
Debt (AmeriGas Propane) (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||
Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Jan. 12, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Jan. 12, 2012 | Mar. 28, 2012 | Jan. 31, 2011 | Sep. 30, 2012 | Jan. 12, 2012 | Feb. 28, 2011 | Feb. 28, 2011 | Mar. 31, 2012 | Aug. 31, 2011 | Sep. 30, 2012 | Aug. 31, 2011 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2011 | Jun. 30, 2011 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Amerigas Partners Senior Notes Due 2020 [Member] | Amerigas Partners Senior Notes Due 2020 [Member] | Amerigas Partners Senior Notes Due 2022 [Member] | Amerigas Partners Senior Notes Due 2022 [Member] | Amerigas Partners Senior Notes Due 2022 [Member] | 6.50% Senior Note Due May 2021 [Member] | 6.50% Senior Note Due May 2021 [Member] | 6.50% Senior Note Due May 2021 [Member] | 6.50% Senior Note Due May 2021 [Member] | 7.25%, Due, May 2015 [Member] | 8.875%, Due May 2011 [Member] | 8.875%, Due May 2011 [Member] | 6.25%, Due August 2019 [Member] | 6.25%, Due August 2019 [Member] | 7.125%, Due May 2016 [Member] | 7.125%, Due May 2016 [Member] | AmeriGas 2011 Credit Agreement [Member] | AmeriGas 2011 Credit Agreement [Member] | AmeriGas 2011 Credit Agreement [Member] | AmeriGas 2011 Credit Agreement [Member] | Ameri Gas Predecessor Credit Agreement [Member] | Minimum [Member] | Maximum [Member] | Amerigas Propane [Member] | Amerigas Propane [Member] | Amerigas Propane [Member] | Amerigas Propane [Member] | Amerigas Propane [Member] | Amerigas Propane [Member] | Amerigas Propane [Member] | ||||||||
Letter of Credit [Member] | AmeriGas 2011 Credit Agreement [Member] | AmeriGas 2011 Credit Agreement [Member] | 6.25%, Due August 2019 [Member] | 6.25%, Due August 2019 [Member] | HOLP Senior Secured Notes [Member] | HOLP Senior Secured Notes [Member] | |||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | $550,000,000 | ' | ' | $1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | ' | ' | 7.00% | ' | ' | ' | 6.50% | 7.25% | 8.88% | ' | 6.25% | ' | 7.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.25% | ' | ' | ' |
Guaranteed Debt | ' | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Redemption at Option | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Tendered for Redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 383,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Aggregate Amount Outstanding Tendered | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount outstanding before redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 470,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 470,000,000 | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption Value of Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Early Redemption Percentage of Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of proration factor (as a percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | ' | ' | 168,700,000 | 299,900,000 | 1,383,600,000 | ' | ' | 19,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Senior Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 415,000,000 | 14,600,000 | ' | ' | ' | 350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishments of debt | 0 | 100,000 | -13,400,000 | 0 | ' | -13,300,000 | -38,100,000 | ' | ' | ' | -13,300,000 | ' | ' | ' | ' | ' | ' | ' | -18,800,000 | ' | ' | ' | -19,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | -13,300,000 | -38,100,000 | ' | ' | ' | ' |
Reduction in net income attributable to UGI Corporation due to extinguishment loss | ' | ' | ' | ' | 2,200,000 | 5,200,000 | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | 3,514,300,000 | ' | ' | ' | 3,609,400,000 | 3,514,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,100,000 | 2,328,000,000 | ' | 450,000,000 | 450,000,000 | 32,000,000 | 55,600,000 |
Unamortized Premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | ' |
Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.89% | ' |
Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.87% | ' |
Effective interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | ' |
Credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 525,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of Interest above Federal Fund Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit agreement sublimit for letters of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Margin on Credit Agreement Base Rate Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 1.75% | ' | ' | ' | ' | ' | ' | ' |
Margin on credit agreement Eurodollar rate borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.75% | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement Facility Fee Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | 0.50% | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 116,900,000 | ' | ' | ' | 49,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.69% | 2.72% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement outstanding, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $53,700,000 | ' | ' | ' | $47,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_International_Propane_Nar
Debt (International Propane) (Narrative) (Details) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||
Mar. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2011 | Mar. 31, 2011 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2011 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
USD ($) | EUR (€) | USD ($) | Antargaz 2011 Senior Facilities [Member] | Antargaz 2011 Senior Facilities [Member] | Antargaz 2011 Senior Facilities [Member] | Antargaz 2011 Senior Facilities [Member] | Antargaz 2011 Senior Facilities [Member] | Flaga [Member] | Flaga [Member] | Flaga [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | Flaga Predecessor Variable Rate Term Loan [Member] | Flaga multi-currency working capital facility [Member] | Flaga 2011 Multi Currency Working Capital Facility [Member] | Flaga 2011 Multi Currency Working Capital Facility [Member] | Flaga 2011 Multi Currency Working Capital Facility [Member] | Flaga 2011 Multi Currency Working Capital Facility [Member] | Flaga euro-denominated working capital facility [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Matures in August 2016 [Member] | Matures in August 2016 [Member] | Matures in August 2016 [Member] | Matures in September 2016 [Member] | Matures in September 2016 [Member] | Maturity Date 2014 [Member] | Maturity Date 2014 [Member] | Maturity Date 2014 [Member] | Maturity Date 2014 [Member] | Maturity Date 2014 [Member] | Maturity Date 2014 [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | ||
Variable Rate Term Loan [Member] | Variable Rate Term Loan [Member] | Variable Rate Term Loan [Member] | Variable Rate Term Loan [Member] | EUR (€) | EUR (€) | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | EUR (€) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | EUR (€) | Antargaz 2011 Senior Facilities [Member] | Flaga [Member] | UGI International [Member] | Antargaz 2011 Senior Facilities [Member] | Flaga [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | UGI International [Member] | Minimum [Member] | Maximum [Member] | USD ($) | USD ($) | Flaga term loan due September 2016 [Member] | Flaga term loan due September 2016 [Member] | Flaga term loan due October 2016 [Member] | Flaga term loan due October 2016 [Member] | ||||||||
EUR (€) | USD ($) | EUR (€) | EUR (€) | Working_Capital_Facility | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | UGI International [Member] | UGI International [Member] | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||
USD ($) | EUR (€) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | Euro based variable rate term loan [Member] | Euro based variable rate term loan [Member] | ||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Period of Senior Facilities Agreement | '1 year | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of senior notes | ' | ' | ' | ' | ' | € 380,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity under revolving credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,100,000 | 26,700,000 | ' | 18,000,000 | 13,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities under term loan, May 2016 | ' | ' | ' | 778,100,000 | ' | ' | ' | 51,400,000 | 38,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 523,400,000 | ' | ' | ' | ' | ' |
Maturities under term loan, May 2017 | ' | ' | ' | 52,400,000 | ' | ' | ' | 46,300,000 | 34,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,700,000 | ' | ' | ' | ' | ' |
Maturities under term loan, March 2018 | ' | ' | ' | 45,600,000 | ' | ' | ' | 416,300,000 | 307,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' |
Margin on credit agreement base rate borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | 0.23% | 2.50% | ' | 2.55% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.63% | 3.50% | ' | ' | ' | ' | ' | ' |
Effective underlying EURIBOR rate of interest on term loan | ' | ' | ' | ' | ' | ' | 2.45% | ' | ' | 1.79% | ' | ' | ' | 2.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.16% | 2.16% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective underlying EURIBOR rate of interest on term loan after September 2015 | ' | ' | ' | ' | ' | ' | 3.71% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective interest rate on term loan | ' | ' | ' | ' | ' | ' | 4.66% | 4.41% | 4.41% | 3.85% | 4.35% | ' | ' | 4.68% | 5.18% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.82% | ' | ' | ' |
Long-term Debt | ' | 3,514,300,000 | ' | 3,609,400,000 | ' | ' | ' | ' | ' | ' | ' | 19,100,000 | ' | ' | ' | ' | 24,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | 1,400,000 | 3,600,000 | 2,800,000 | ' | ' | 654,400,000 | 573,900,000 | 52,000,000 | 0 | 25,800,000 | 24,600,000 |
Margin on Term Loan Base Rate Borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117.50% | ' | ' | 252.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' |
Credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,000,000 | ' | 6,000,000 | ' | ' | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Semi Annual Principal Payments Due | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on credit agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.04% | 5.04% | 5.04% | 5.04% | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Number of Working Capital Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 200,000 | 15,300,000 | 11,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.21% | 4.21% | 2.31% | 2.31% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement outstanding, amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,700,000 | 28,600,000 | 24,700,000 | 19,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of Net Debt to EBITDA | ' | 3.5 | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | ' | ' | € 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_UGI_Utilities_Narrative_D
Debt (UGI Utilities) (Narrative) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | UGI Utilities 2011 Credit Agreement [Member] | UGI Utilities 2011 Credit Agreement [Member] | Letter of Credit [Member] | Minimum [Member] | Maximum [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | ||
UGI Utilities 2011 Credit Agreement [Member] | UGI Utilities 2011 Credit Agreement [Member] | UGI Utilities 2011 Credit Agreement [Member] | Term Loan Credit Agreement [Member] | Term Loan Credit Agreement [Member] | Senior Notes Due March 26, 2044 [Member] | Senior Notes Due September 2013 [Member] | Senior Notes Due September 2013 [Member] | |||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | $3,609.40 | $3,514.30 | ' | ' | ' | ' | ' | $642 | $600 | $175 | $0 | ' | $0 | $108 |
Interest rate stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.98% | 6.38% | ' |
Debt instrument term | ' | ' | ' | ' | ' | ' | ' | ' | ' | '364 days | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' |
Credit agreement | ' | ' | ' | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving Credit Agreement Sublimit for Letters of Credit | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Margin on Credit Agreement Base Rate Borrowings | ' | ' | ' | ' | ' | 0.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' |
Borrowings outstanding, amount | ' | ' | 9.2 | 17.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | 1.21% | 1.18% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | $2 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of consolidated debt to consolidated capital | ' | ' | 0.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Energy_Services_Narrative
Debt (Energy Services) (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2013 |
Debt Instrument [Line Items] | ' | ' |
Amount of net assets restricted from transfer to UGI under different agreements | ' | $1,500 |
Energy services credit agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Credit agreement | 240 | ' |
Ratio of consolidated total indebtedness to EBITDA | 2.25 | ' |
Letters of Credit Outstanding, Amount | 85 | 57 |
Rate of Interest above LIBOR Rate | 2.50% | ' |
Rate of Interest above Alternate Base Rate | 1.50% | ' |
Rate of interest above Federal fund Rate | 0.50% | ' |
Rate of interest above one month LIBOR Rate | 1.00% | ' |
Line of Credit Facility, Interest Rate at Period End | 3.25% | 2.91% |
Minimum consolidated total indebtedness for maximum ratio of Consolidated total indebtedness to Consolidated total capitalization | 250 | ' |
Minimum Consolidated Net Worth, for Maximum Ratio of Consolidated Total Indebtedness to Consolidated Total Capitalization | 200 | ' |
Letter of Credit [Member] | Energy services credit agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Revolving Credit Agreement Sublimit for Letters of Credit | $50 | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Tax Expense (Benefit) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Domestic | ' | ' | ' | ' | ' | ' | ' | ' | $494.10 | $245.60 | $415.20 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 96.3 | 59 | 50.2 |
Income before income taxes | ($72.30) | ($17.70) | $447.70 | $232.70 | ($76.10) | ($57.70) | $309.10 | $129.30 | $590.40 | $304.60 | $465.40 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Current expense (benefit): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | $53.30 | ($10.40) | $24.40 |
State | ' | ' | ' | ' | ' | ' | ' | ' | 25.1 | 11.2 | 14.5 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 37.3 | 18.8 | 15 |
Investment tax credit | ' | ' | ' | ' | ' | ' | ' | ' | -1.6 | -2.9 | 0 |
Total current expense | ' | ' | ' | ' | ' | ' | ' | ' | 114.1 | 16.7 | 53.9 |
Deferred expense (benefit): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | 54.6 | 81.7 | 86 |
State | ' | ' | ' | ' | ' | ' | ' | ' | -0.7 | 7 | 4.5 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | -4.9 | 1.8 | 1.4 |
Investment tax credit amortization | ' | ' | ' | ' | ' | ' | ' | ' | -0.3 | -0.3 | -0.4 |
Total deferred expense | ' | ' | ' | ' | ' | ' | ' | ' | 48.7 | 90.2 | 91.5 |
Total income tax expense | ($13.20) | $5.10 | $106 | $64.90 | ($7.70) | $4.10 | $77.20 | $33.30 | $162.80 | $106.90 | $145.40 |
Income_Taxes_Details_2
Income Taxes (Details 2) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate | ' | ' | ' |
U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Difference in tax rate due to: | ' | ' | ' |
Noncontrolling interests not subject to tax | -8.70% | 1.20% | -5.60% |
State income taxes, net of federal benefit | 3.40% | 4.00% | 2.40% |
Valuation allowance adjustments | -0.50% | -1.50% | 0.00% |
Effects of foreign operations | -1.80% | -3.30% | -0.50% |
Other, net | 0.20% | -0.30% | -0.10% |
Effective tax rate | 27.60% | 35.10% | 31.20% |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Deferred tax liabilities (assets) | ' | ' |
Excess book basis over tax basis of property, plant and equipment | $626.90 | $582 |
Investment In AmeriGas Partners | 313 | 292.8 |
Intangible assets and goodwill | 65.1 | 61.2 |
Utility regulatory assets | 101.6 | 140.4 |
Foreign currency translation adjustment | 9.5 | 3.6 |
Other | 2.7 | 4.1 |
Gross deferred tax liabilities | 1,118.80 | 1,084.10 |
Pension plan liabilities | -36.2 | -72.7 |
Employee-related benefits | -47.9 | -43 |
Operating loss carryforwards | -32.1 | -33.4 |
Foreign tax credit carryforwards | -81.8 | -55.5 |
Utility regulatory liabilities | -15.5 | -11.8 |
Derivative financial instruments | -15 | -37.7 |
Other | -20.5 | -31.1 |
Gross deferred tax assets | -249 | -285.2 |
Deferred tax assets valuation allowance | 97.6 | 77 |
Net deferred tax liabilities | $967.40 | $875.90 |
Income_Taxes_Details_4
Income Taxes (Details 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Reconciliation of beginning and ending amount of unrecognized tax benefit | ' | ' | ' |
Beginning Balance | $2.90 | $6.30 | $5.40 |
Additions for tax positions of the current year | 0.7 | 0.5 | 0.4 |
Additions for tax positions of prior years | ' | 0.6 | ' |
Reductions as a result of tax positions taken in prior years | ' | ' | 1 |
Settlements with tax authorities | -0.2 | -4.5 | -0.5 |
Ending Balance | $3.40 | $2.90 | $6.30 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Accrued Interest Included [Member] | Foreign Country [Member] | Foreign Country [Member] | State and Local Jurisdiction [Member] | State and Local Jurisdiction [Member] | State and Local Jurisdiction [Member] | Domestic Tax Authority [Member] | Flaga [Member] | Flaga [Member] | Antargaz [Member] | Antargaz [Member] | UGI International Holdings [Member] | AmeriGas Propane [Member] | Other Subsidiaries [Member] | UGI International [Member] | |||||
Foreign Country [Member] | Foreign Country [Member] | ||||||||||||||||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease in unusable foreign tax credits | $34.90 | $5.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance | ' | ' | ' | ' | ' | 4.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State Net Operating Loss carryforwards | ' | ' | ' | ' | ' | ' | ' | 224.9 | ' | ' | ' | ' | 47.7 | ' | 5.3 | ' | 15.7 | ' | ' |
Income Tax Expense (Benefit), Accelerated Depreciation | ' | ' | ' | ' | ' | ' | ' | -1.5 | -3.2 | -7.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets relating to operating loss carryforwards | 32.1 | 33.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | 1.8 | ' | 0.9 | 6.1 | 17.6 | ' |
Valuation allowance provided for deferred tax assets related to state net operating loss carryforwards and other state deferred tax assets of certain subsidiaries | 13.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation allowance operating loss carryforwards related to acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.9 |
Deferred tax assets and associated valuation allowance for unrealized state tax benefits for equity compensation deductions | ' | 4.6 | ' | ' | ' | ' | ' | 5.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign tax credit carryforwards | ' | ' | ' | ' | ' | ' | 81.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in valuation allowance | -20.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.7 | ' | ' |
Foreign Income Tax Expense (Benefit), Unused Foreign Tax Credit | -26.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in unusable state operating losses | ' | ' | ' | ' | ' | ' | ' | 4.7 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized income tax benefits | 3.4 | 2.9 | 6.3 | 5.4 | 3.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest included in unrecognized income tax benefits | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits if recognized would impact the reported effective tax rate | 2.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax positions for which the deductibility is highly certain but uncertainty about the timing | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected change in unrecognized tax benefits and related interest | $0.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Retirement_Plans_Deta
Employee Retirement Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Amounts recorded in UGI Corporation stockholders' equity (pre-tax): | ' | ' | ' |
Net actuarial loss (gain) | $9.40 | $11 | ' |
Pension Benefit [Member] | ' | ' | ' |
Change in benefit obligations: | ' | ' | ' |
Benefit obligations - beginning of year | 573.4 | 462.9 | ' |
Service cost | 11.3 | 9.3 | 8.8 |
Interest cost | 23.8 | 25.1 | 24.1 |
Actuarial (gain) loss | -72.7 | 82.4 | ' |
Plan amendments | 1 | 0.1 | ' |
Acquisitions | ' | 14.6 | ' |
Foreign currency | 1.5 | -0.7 | ' |
Benefits paid | -21.8 | -20.3 | ' |
Benefit obligations - end of year | 516.5 | 573.4 | 462.9 |
Change in plan assets: | ' | ' | ' |
Fair value of plan assets - beginning of year | 369.9 | 290 | ' |
Actual gain on plan assets | 42.2 | 51.2 | ' |
Foreign currency | 0.8 | -0.5 | ' |
Employer contributions | 24.2 | 32.2 | ' |
Acquisitions | ' | 17.3 | ' |
Benefits paid | -21.8 | -20.3 | ' |
Fair value of plan assets - end of year | 415.3 | 369.9 | 290 |
Funded status of the plans - end of year | -101.2 | -203.5 | ' |
Assets (liabilities) recorded in the balance sheet: | ' | ' | ' |
Assets in excess of liabilities — included in other noncurrent assets | 0 | 0 | ' |
Unfunded liabilities - included in other current liabilities | -17.9 | -15.8 | ' |
Unfunded liabilities - included in other noncurrent liabilities | -83.3 | -187.7 | ' |
Net amount recognized | -101.2 | -203.5 | ' |
Amounts recorded in UGI Corporation stockholders' equity (pre-tax): | ' | ' | ' |
Prior service credit | -0.1 | -0.1 | ' |
Net actuarial loss (gain) | 16.7 | 25.3 | ' |
Total | 16.6 | 25.2 | ' |
Amounts recorded in regulatory assets and liabilities (pre-tax): | ' | ' | ' |
Prior service cost (credit) | 2.2 | 1.5 | ' |
Net actuarial loss | 91.3 | 184.5 | ' |
Total | 93.5 | 186 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Change in benefit obligations: | ' | ' | ' |
Benefit obligations - beginning of year | 24.7 | 20.5 | ' |
Service cost | 0.6 | 0.4 | 0.4 |
Interest cost | 0.9 | 1.1 | 1.1 |
Actuarial (gain) loss | -3.6 | 3.2 | ' |
Plan amendments | -1.8 | 1 | ' |
Acquisitions | ' | ' | ' |
Foreign currency | 0.2 | -0.1 | ' |
Benefits paid | -1.3 | -1.4 | ' |
Benefit obligations - end of year | 19.7 | 24.7 | 20.5 |
Change in plan assets: | ' | ' | ' |
Fair value of plan assets - beginning of year | 11.2 | 9.8 | ' |
Actual gain on plan assets | 1.1 | 1.7 | ' |
Foreign currency | ' | ' | ' |
Employer contributions | 0.7 | 1.1 | ' |
Acquisitions | ' | ' | ' |
Benefits paid | -1.3 | -1.4 | ' |
Fair value of plan assets - end of year | 11.7 | 11.2 | 9.8 |
Funded status of the plans - end of year | -8 | -13.5 | ' |
Assets (liabilities) recorded in the balance sheet: | ' | ' | ' |
Assets in excess of liabilities — included in other noncurrent assets | 3.2 | 0 | ' |
Unfunded liabilities - included in other current liabilities | -0.4 | -0.6 | ' |
Unfunded liabilities - included in other noncurrent liabilities | -10.8 | -12.9 | ' |
Net amount recognized | -8 | -13.5 | ' |
Amounts recorded in UGI Corporation stockholders' equity (pre-tax): | ' | ' | ' |
Prior service credit | -0.1 | -0.1 | ' |
Net actuarial loss (gain) | -0.4 | 0.4 | ' |
Total | -0.5 | 0.3 | ' |
Amounts recorded in regulatory assets and liabilities (pre-tax): | ' | ' | ' |
Prior service cost (credit) | -4.3 | -2.8 | ' |
Net actuarial loss | 3.6 | 5.8 | ' |
Total | ($0.70) | $3 | ' |
Employee_Retirement_Plans_Deta1
Employee Retirement Plans (Details 1) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2011 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Pension Benefit [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumption: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | 5.30% | [1] | 5.20% | 4.20% | 5.30% | [1] |
Discount rate | 5.00% | 5.50% | 4.20% | 5.30% | 5.00% | [1] | |
Expected return on plan assets | ' | ' | 7.75% | 7.75% | 8.00% | [1] | |
Rate of increase in salary levels | ' | ' | 3.25% | 3.25% | 3.50% | [1] | |
Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumption: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | 5.30% | ' | ' | 5.30% | ||
Discount rate | ' | ' | ' | 5.30% | 5.00% | ||
Expected return on plan assets | ' | ' | 5.00% | 5.20% | 5.50% | ||
Rate of increase in salary levels | ' | ' | 3.25% | 3.25% | 3.50% | ||
Minimum [Member] | Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumption: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | ' | 5.10% | 4.10% | ' | ||
Discount rate | ' | ' | 4.10% | ' | ' | ||
Maximum [Member] | Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumption: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | ' | 5.40% | 4.30% | ' | ||
Discount rate | ' | ' | 4.30% | ' | ' | ||
[1] | Effective December 31, 2010, we merged our then-existing two U.S. defined benefit pension plans (“U.S. Pension Plans Mergerâ€) to form the U.S. Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the U.S. Pension Plans Merger) and 5.5% for the remainder of Fiscal 2011. |
Employee_Retirement_Plans_Deta2
Employee Retirement Plans (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Pension Benefit [Member] | ' | ' | ' |
Components of Net periodic pension expense and other postretirement benefit costs [Abstract] | ' | ' | ' |
Service cost | $11.30 | $9.30 | $8.80 |
Interest cost | 23.8 | 25.1 | 24.1 |
Expected return on assets | -27.8 | -26.2 | -25.8 |
Curtailment gain | ' | ' | ' |
Amortization of: | ' | ' | ' |
Prior service cost (benefit) | 0.3 | 0.2 | 0.2 |
Actuarial loss | 15.1 | 8.4 | 7.5 |
Net benefit cost (income) | 22.7 | 16.8 | 14.8 |
Change in associated regulatory liabilities | ' | ' | ' |
Net benefit cost after change in regulatory liabilities | 22.7 | 16.8 | 14.8 |
Other Postretirement Benefits [Member] | ' | ' | ' |
Components of Net periodic pension expense and other postretirement benefit costs [Abstract] | ' | ' | ' |
Service cost | 0.6 | 0.4 | 0.4 |
Interest cost | 0.9 | 1.1 | 1.1 |
Expected return on assets | -0.5 | -0.5 | -0.5 |
Curtailment gain | ' | ' | -3.2 |
Amortization of: | ' | ' | ' |
Prior service cost (benefit) | -0.3 | -0.3 | -0.7 |
Actuarial loss | 0.4 | 0.3 | 0.4 |
Net benefit cost (income) | 1.1 | 1 | -2.5 |
Change in associated regulatory liabilities | 3.3 | 3.2 | 3.1 |
Net benefit cost after change in regulatory liabilities | $4.40 | $4.20 | $0.60 |
Employee_Retirement_Plans_Deta3
Employee Retirement Plans (Details 3) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Pension Benefit [Member] | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' |
Fiscal 2014 | $24.60 |
Fiscal 2015 | 24.4 |
Fiscal 2016 | 26.1 |
Fiscal 2017 | 28.8 |
Fiscal 2018 | 30.4 |
Fiscal 2019-2023 | 164.3 |
Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' |
Fiscal 2014 | 1.4 |
Fiscal 2015 | 1.2 |
Fiscal 2016 | 1.2 |
Fiscal 2017 | 1.1 |
Fiscal 2018 | 1.1 |
Fiscal 2019-2023 | $5.30 |
Employee_Retirement_Plans_Deta4
Employee Retirement Plans (Details 4) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Pension Benefit [Member] | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 100.00% | 100.00% |
Target Asset Allocation | 100.00% | ' |
Pension Benefit [Member] | Total domestic equity investments | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 57.50% | 53.50% |
Target Asset Allocation | 52.50% | ' |
Permitted Range - Minimum | 40.00% | ' |
Permitted Range - Maximum | 65.00% | ' |
Pension Benefit [Member] | International index equity mutual funds | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 11.10% | 10.50% |
Target Asset Allocation | 12.50% | ' |
Permitted Range - Minimum | 7.50% | ' |
Permitted Range - Maximum | 17.50% | ' |
Pension Benefit [Member] | Equity Securities [Member] | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 68.60% | 64.00% |
Target Asset Allocation | 65.00% | ' |
Permitted Range - Minimum | 60.00% | ' |
Permitted Range - Maximum | 70.00% | ' |
Pension Benefit [Member] | Fixed Income Funds And Cash Equivalents [Member] | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 31.40% | 36.00% |
Target Asset Allocation | 35.00% | ' |
Permitted Range - Minimum | 30.00% | ' |
Permitted Range - Maximum | 40.00% | ' |
VEBA Trust [Member] | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 100.00% | 100.00% |
Target Asset Allocation | 100.00% | ' |
VEBA Trust [Member] | Total domestic equity investments | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 65.60% | 68.50% |
Target Asset Allocation | 65.00% | ' |
Permitted Range - Minimum | 60.00% | ' |
Permitted Range - Maximum | 70.00% | ' |
VEBA Trust [Member] | Fixed Income Funds And Cash Equivalents [Member] | ' | ' |
Pension Plan | ' | ' |
Actual Pension Plan | 34.40% | 31.50% |
Target Asset Allocation | 35.00% | ' |
Permitted Range - Minimum | 30.00% | ' |
Permitted Range - Maximum | 40.00% | ' |
Employee_Retirement_Plans_Deta5
Employee Retirement Plans (Details 5) (U.S Pension Plans [Member], USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | $398.20 | $351.50 |
S&P 500 Index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 141.8 | 118.9 |
Small and midcap equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 54.5 | 42.9 |
UGI Corporation Common Stock | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 32.6 | 26.4 |
Total domestic equity investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 228.9 | 188.2 |
International index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 44.4 | 36.9 |
Bond index mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 120.9 | 123.3 |
Cash equivalents | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 4 | 3.1 |
Total fixed income investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 124.9 | 126.4 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 394.2 | 348.4 |
Fair Value, Inputs, Level 1 [Member] | S&P 500 Index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 141.8 | 118.9 |
Fair Value, Inputs, Level 1 [Member] | Small and midcap equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 54.5 | 42.9 |
Fair Value, Inputs, Level 1 [Member] | UGI Corporation Common Stock | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 32.6 | 26.4 |
Fair Value, Inputs, Level 1 [Member] | Total domestic equity investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 228.9 | 188.2 |
Fair Value, Inputs, Level 1 [Member] | International index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 44.4 | 36.9 |
Fair Value, Inputs, Level 1 [Member] | Bond index mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 120.9 | 123.3 |
Fair Value, Inputs, Level 1 [Member] | Cash equivalents | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Total fixed income investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 120.9 | 123.3 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 4 | 3.1 |
Fair Value, Inputs, Level 2 [Member] | S&P 500 Index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Small and midcap equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | UGI Corporation Common Stock | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Total domestic equity investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | International index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Bond index mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Cash equivalents | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 4 | 3.1 |
Fair Value, Inputs, Level 2 [Member] | Total fixed income investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | 4 | 3.1 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | S&P 500 Index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Small and midcap equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | UGI Corporation Common Stock | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Total domestic equity investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | International index equity mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Bond index mutual funds | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Cash equivalents | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Total fixed income investments | ' | ' |
Fair Value of Pension Plan Assets | ' | ' |
Fair Value of Plan Assets | ' | ' |
Employee_Retirement_Plans_Deta6
Employee Retirement Plans (Details 6) (VEBA Trust [Member], USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | $11.70 | $11.20 |
S&P 500 Index equity mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 7.7 | 7.7 |
Bond index mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 3.8 | 3.4 |
Cash equivalents | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 0.2 | 0.1 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 11.5 | 11.1 |
Fair Value, Inputs, Level 1 [Member] | S&P 500 Index equity mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 7.7 | 7.7 |
Fair Value, Inputs, Level 1 [Member] | Bond index mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 3.8 | 3.4 |
Fair Value, Inputs, Level 1 [Member] | Cash equivalents | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 0.2 | 0.1 |
Fair Value, Inputs, Level 2 [Member] | S&P 500 Index equity mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Bond index mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Cash equivalents | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | 0.2 | 0.1 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | S&P 500 Index equity mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Bond index mutual funds | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Cash equivalents | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Fair Value of Plan Assets | ' | ' |
Employee_Retirement_Plans_Deta7
Employee Retirement Plans (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Amortization of net actuarial losses | ($7.80) | ' | ' |
Amortization of prior service credits | 0.2 | ' | ' |
Projected benefit obligations of unfunded and non qualified supplemental executive retirement plans | 33.9 | 29.5 | ' |
Net cost to sponsor unfunded and non-qualified supplemental executive retirement plans | 3 | 3 | 3 |
Amounts recorded in UGI's stockholders include pre-tax losses representing unrecognized actuarial losses | -9.4 | -11 | ' |
Amount of expected amortization of pre-tax actuarial losses into retiree benefit cost | 0.6 | ' | ' |
Percentage of Aggregate Employer Securities Holdings to Not to Exceed Fair Value Assets | 10.00% | ' | ' |
Percentage of UGI Common Stock represented Pension Plan Assets | 8.20% | 7.50% | ' |
Cost of benefits under the 401(k) savings plan | 14 | 13.7 | 10.4 |
U.S Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
ABO for the Pension Plans | 451.3 | 496.4 | ' |
Contribution made to Pension Plan | 22.4 | 31.2 | 18.7 |
Expected contribution to pensions plans in next twelve months | 18 | ' | ' |
Pension and Other Postretirement Benefit Contributions, Fair Value | 398.2 | 351.5 | ' |
Fiscal 2017 [Member] | Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 7.00% | ' | ' |
Fiscal 2019 [Member] | Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 7.50% | ' | ' |
Fiscal 2019 [Member] | Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 5.00% | ' | ' |
Supplemental Employee Retirement Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Pension and Other Postretirement Benefit Contributions | 0 | ' | ' |
Pension and Other Postretirement Benefit Contributions, Fair Value | 23.7 | 2 | ' |
Portion used to fund company established trusts [Member] | Supplemental Employee Retirement Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Pension and Other Postretirement Benefit Contributions | $0 | ' | ' |
Utility_Regulatory_Assets_and_2
Utility Regulatory Assets and Liabilities and Regulatory Matters (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | $244.90 | $338.40 |
Regulatory Liabilities | 37.3 | 28.3 |
Postretirement benefits [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 16.5 | 13.1 |
Environmental overcollections [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 2.6 | 2.9 |
Deferred fuel and power refunds [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 8.3 | 4.4 |
State tax benefits - distribution system repairs [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 8.4 | 7.4 |
Other regulatory liabilities [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 1.5 | 0.5 |
Income taxes recoverable [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 106.1 | 103.2 |
Underfunded pension and postretirement plans [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 94.5 | 188.2 |
Environmental costs [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 17.1 | 16.8 |
Deferred fuel and power costs [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 8.3 | 11.6 |
Removal costs, net [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 13.3 | 12.7 |
Other regulatory assets [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | $5.60 | $5.90 |
Utility_Regulatory_Assets_and_3
Utility Regulatory Assets and Liabilities and Regulatory Matters (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | 0 Months Ended | ||||||
In Millions, unless otherwise specified | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 01, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 03, 2012 | Sep. 30, 2013 |
mi | Minimum [Member] | Maximum [Member] | UGI Central Penn Gas Inc [Member] | Allentown, Pennsylvania Natural Gas Explosion [Member] | Revised Penalty [Member] | ||||
UGI Utilities [Member] | Allentown Incident [Member] | ||||||||
UGI Utilities [Member] | |||||||||
Regulatory Assets and Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average remaining depreciable lives of the associated property | ' | ' | ' | ' | '1 year | '50 years | ' | ' | ' |
Unrealized gains (losses) on derivative financial instruments contracts | ' | $1.70 | $5.30 | ' | ' | ' | ' | ' | ' |
Fair value of electric utility electricity supply contracts | ' | 4.8 | 9.2 | ' | ' | ' | ' | ' | ' |
Minimum period to recover costs related to other regulatory assets | ' | '1 year | ' | ' | ' | ' | ' | ' | ' |
Maximum period to recover costs related to other regulatory assets | ' | '5 years | ' | ' | ' | ' | ' | ' | ' |
Damages paid | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Accelerated Time Frame Replacing Remainder of Cast-Iron Mains | ' | ' | ' | ' | ' | ' | ' | '14 years | ' |
Loss Contingency, Agreement Permitted To Retain Current Timeframe for Replacing The Remainder of Their Bare Steel Mains | ' | ' | ' | ' | ' | ' | ' | '30 years | ' |
Additional base rate revenue using for increased distribution rates per settlement agreement | ' | ' | ' | ' | ' | ' | 8 | ' | ' |
Increase in Base Rate Revenue for Energy and Efficiency Conservation Program | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' |
Reversal of Previous Increase in Base Rate Revenue for Energy and Efficiency Conservation Program | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' |
Net Book Value of Asset Transferred | ' | 2.6 | ' | ' | ' | ' | ' | ' | ' |
Net book value of the storage facility assets | ' | ' | 10.9 | ' | ' | ' | ' | ' | ' |
Term Period of Senior Facilities Agreement | '1 year | ' | ' | ' | ' | ' | ' | ' | ' |
Approval of the transfer length of natural gas pipeline (in miles) | ' | ' | ' | 9 | ' | ' | ' | ' | ' |
Net book value of the Auburn line | ' | ' | ' | $1.10 | ' | ' | ' | ' | ' |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Inventories | ' | ' |
Total inventories | $365.50 | $354.10 |
Non-utility LPG and natural gas [Member] | ' | ' |
Inventories | ' | ' |
Total inventories | 230 | 237.9 |
Gas Utility natural gas [Member] | ' | ' |
Inventories | ' | ' |
Total inventories | 78.9 | 57.7 |
Materials, supplies and other [Member] | ' | ' |
Inventories | ' | ' |
Total inventories | $56.60 | $58.50 |
Inventories_Details_Textual
Inventories (Details Textual) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 01, 2013 | Nov. 01, 2013 |
In Millions, unless otherwise specified | ft3 | ft3 | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] | UGI Utilities [Member] |
Storage Contract Administrative Agreements [Member] | Expires in October 2013 [Member] | Expires in October 2015 [Member] | New Storage Agreement [Member] | New Storage Agreement [Member] | |||
Storage_Agreement | Storage Contract Administrative Agreements [Member] | Storage Contract Administrative Agreements [Member] | Storage Contract Administrative Agreements [Member] | Midstream and Marketing Propane Storage [Member] | |||
Storage_Agreement | Storage_Agreement | ||||||
Public Utilities, Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of storage agreements (in storage agreements) | ' | ' | 3 | 1 | 2 | ' | ' |
Volume of gas storage inventories released under SCAAs with non-affiliates (In Cubic Feet) | 600,000,000 | 3,800,000,000 | ' | ' | ' | ' | ' |
Carrying value of gas storage inventories released under SCAAs with non-affiliates | $2.40 | $11.40 | ' | ' | ' | ' | ' |
Storage Agreement Term | ' | ' | ' | ' | ' | '3 years | '1 year |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | $2,427.80 | $2,295.70 |
Non-utility | 4,612.70 | 4,223.90 |
Total property, plant and equipment | 7,040.50 | 6,519.60 |
Distribution [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | 2,162.60 | 2,047.80 |
Transmission [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | 86.6 | 85.4 |
General and other, including work in process [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | 178.6 | 162.5 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Non-utility | 178.4 | 175 |
Building and improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Non-utility | 308.1 | 282 |
Transportation equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Non-utility | 273.8 | 246.5 |
Equipment, primarily cylinders and tanks [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Non-utility | 3,184.40 | 3,043.40 |
Electric generation [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Non-utility | 264.8 | 254.3 |
Other, including work in process [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Non-utility | $403.20 | $222.70 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Millions, unless otherwise specified | |||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Goodwill (not subject to amortization) | $2,873.70 | $2,818.30 | $1,562.20 |
Intangible assets: | ' | ' | ' |
Customer relationships, noncompete agreements and other | 704.8 | 691.9 | ' |
Trademarks and tradenames (not subject to amortization) | 130.2 | 137.2 | ' |
Gross carrying amount | 835 | 829.1 | ' |
Accumulated amortization | -227.1 | -170.9 | ' |
Intangible assets, net | $607.90 | $658.20 | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Details 1) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | $2,818.30 | $1,562.20 | ||
Goodwill acquired | 12.5 | 1,283.20 | ||
Purchase accounting adjustments | 9.3 | -0.2 | ||
Foreign currency translation | 33.6 | -26.9 | ||
Goodwill, Ending Balance | 2,873.70 | 2,818.30 | ||
AmeriGas Propane [Member] | ' | ' | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | 1,919.20 | 696.3 | ||
Goodwill acquired | 12.5 | 1,223.10 | ||
Purchase accounting adjustments | 9.3 | -0.2 | ||
Foreign currency translation | 0 | 0 | ||
Goodwill, Ending Balance | 1,941 | 1,919.20 | ||
Gas Utility [Member] | ' | ' | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | 182.1 | 182.1 | ||
Goodwill acquired | 0 | 0 | ||
Purchase accounting adjustments | ' | ' | ||
Foreign currency translation | 0 | 0 | ||
Goodwill, Ending Balance | 182.1 | 182.1 | ||
Energy Services [Member] | ' | ' | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | 2.8 | 2.8 | ||
Goodwill acquired | 0 | 0 | ||
Purchase accounting adjustments | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Goodwill, Ending Balance | 2.8 | 2.8 | ||
Antargaz [Member] | ' | ' | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | 612 | 591.8 | ||
Goodwill acquired | 0 | 46.4 | ||
Purchase accounting adjustments | 0 | 0 | ||
Foreign currency translation | 31.7 | -26.2 | ||
Goodwill, Ending Balance | 643.7 | 612 | ||
Flaga & Other [Member] | ' | ' | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | 95.2 | 82.2 | ||
Goodwill acquired | 0 | 13.7 | ||
Purchase accounting adjustments | ' | ' | ||
Foreign currency translation | 1.9 | -0.7 | ||
Goodwill, Ending Balance | 97.1 | 95.2 | ||
Corporate & Other [Member] | ' | ' | ||
Changes in the carrying amount of goodwill | ' | ' | ||
Goodwill, Beginning Balance | 7 | [1] | 7 | [1] |
Goodwill acquired | 0 | 0 | ||
Purchase accounting adjustments | 0 | 0 | ||
Foreign currency translation | 0 | 0 | ||
Goodwill, Ending Balance | $7 | [1] | $7 | [1] |
[1] | Corporate & Other results principally comprise (1) Electric Utility, (2) Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVACâ€), (3) changes in the fair values of Midstream & Marketing’s unsettled commodity derivative instruments and gains and losses on settled commodity derivative instruments not associated with current period transactions, (4) net expenses of UGI’s captive general liability insurance company, and (5) UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC, and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation. |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization, customer relationships and noncompete agreement intangibles over their estimated periods of benefit, maximum period | '15 years | ' | ' |
Amortization expense of intangible assets | $52.80 | $44.50 | $20.40 |
Expected aggregate amortization expense of intangible assets for the next five fiscal years: | ' | ' | ' |
Fiscal 2014 | 51.2 | ' | ' |
Fiscal 2015 | 48.4 | ' | ' |
Fiscal 2016 | 42.4 | ' | ' |
Fiscal 2017 | 35.9 | ' | ' |
Fiscal 2018 | $34.50 | ' | ' |
Series_Preferred_Stock_Details
Series Preferred Stock (Details Textual) | Sep. 30, 2013 |
UGI Series Preferred Stock [Member] | ' |
Series Preferred Stock (Textual) [Abstract] | ' |
Preferred Stock, Authorized | 10,000,000 |
UGI Utilities Series Preferred Stock [Member] | ' |
Series Preferred Stock (Textual) [Abstract] | ' |
Preferred Stock, Authorized | 2,000,000 |
Common_Stock_and_Equity_Based_2
Common Stock and Equity Based Compensation (Details) | 12 Months Ended | 12 Months Ended | |||||||||||||
Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Treasury Stock [Member] | Common Stock Outstanding [Member] | Common Stock Outstanding [Member] | Common Stock Outstanding [Member] | 2004 OECP [Member] | 2013 OICP [Member] | |||||
UGI Performance Unit [Member] | UGI Performance Unit [Member] | ||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'grantees may receive 0% to 200% of the target award granted. For such grants, if UGI’s TSR ranks below the 40th percentile compared to the UGI comparator group, the employee will not be paid. At the 40th percentile, the employee will be paid an award equal to 50% of the target award; at the 50th percentile, 100%; and at the 100th percentile, 200% | 'grantees may receive 0% to 200% of the target award granted. For such grants, if UGI’s TSR ranks below the 25th percentile compared to the UGI comparator group, the employee will not be paid. At the 40th percentile, the employee will be paid an award equal to 70% of the target award; at the 50th percentile, 100%; and at the 90th percentile, 200% |
Minimum Percentage Amount of Guarantee on Target Award Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% |
Common stock share activity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued, Beginning Balance | 115,624,594 | 115,783,794 | 115,507,094 | 115,400,294 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Beginning Balance | -3,671,072 | -1,354,936 | ' | -5,026,707 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding, Beginning Balance | 111,836,022 | 114,428,858 | ' | 110,373,587 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee and director plans | ' | ' | ' | ' | ' | ' | ' | 2,622,338 | 824,925 | 1,263,065 | 2,781,538 | 942,425 | 1,369,865 | ' | ' |
Employee and director plans, Issued | ' | ' | ' | ' | 159,200 | 117,500 | 106,800 | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend reinvestment plan | ' | ' | ' | ' | ' | ' | ' | 62,169 | 104,994 | 92,570 | 62,169 | 104,994 | 92,570 | ' | ' |
Shares reacquired - employee and director plans | -263,020 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued, Ending Balance | 115,624,594 | 115,783,794 | 115,507,094 | 115,400,294 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Ending Balance | -3,004,173 | -1,354,936 | ' | -5,026,707 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding, Ending Balance | 112,620,421 | 114,428,858 | ' | 110,373,587 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares reacquired - employee and director plans | ' | ' | ' | ' | ' | ' | ' | -1,035,270 | ' | ' | -1,035,270 | ' | ' | ' | ' |
Maximum Percentage Amount of Guarantee on Target Award Granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200.00% | 200.00% |
Percentage of Target Award Paid at Fortieth Percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 70.00% |
Percentage of Target Award Paid at Fiftieth Percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% |
Percentage of Target Award Paid at Hundredth Percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200.00% | 200.00% |
Common_Stock_and_Equity_Based_3
Common Stock and Equity Based Compensation (Details 1) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
UGI Stock Option Awards | ' | ' | ' | ' |
Shares under option, Beginning Balance, Shares | 8,057,772 | 7,673,179 | 7,557,045 | ' |
Shares under option, Granted | 1,516,900 | 1,508,050 | 1,443,558 | ' |
Share under option, Cancelled | -89,836 | -321,600 | -235,437 | ' |
Share under option, Exercised | -2,688,868 | -801,857 | -1,091,987 | ' |
Share under option, Ending Balance, Shares | 6,795,968 | 8,057,772 | 7,673,179 | 7,557,045 |
Weighted Average Option Price, Beginning Balance | $26.62 | $25.55 | $23.81 | ' |
Weighted Average Option Price, Granted | $33.57 | $29.26 | $31.55 | ' |
Weighted Average Option Price, Cancelled | $30.51 | $27.74 | $27.79 | ' |
Weighted Average Option Price, Exercised | $24.58 | $20.93 | $20.95 | ' |
Weighted Average Option Price, Ending Balance | $28.92 | $26.62 | $25.55 | $23.81 |
Shares Under Option, Total Intrinsic Value, Beginning Balance | $41.40 | $15.10 | $36.20 | ' |
Exercised Shares, Total Intrinsic Value | 35.4 | 7.2 | 11.4 | ' |
Share Under Option, Total Intrinsic Value, Ending Balance | 69.6 | 41.4 | 15.1 | 36.2 |
Weighted Average Contract Term | '6 years 9 months 18 days | '6 years 1 month 6 days | '6 years 2 months 12 days | '6 years 6 months 1 day |
Option exercisable, Shares | 3,914,061 | 5,317,698 | 4,879,784 | ' |
Option exercisable, Weighted average option price | $26.93 | $25.32 | $24.15 | ' |
Option exercisable, Total intrinsic value | 47.8 | ' | ' | ' |
Option exercisable, Weighted Average Contract Term | '5 years 7 months 6 days | ' | ' | ' |
Non vested options, Shares | 2,881,907 | ' | ' | ' |
Non vested options, Weighted average option price | $31.63 | ' | ' | ' |
Non vested options, Total intrinsic value | $21.80 | ' | ' | ' |
Non Vested Options Weighted Average Contract Term | '8 years 6 months | ' | ' | ' |
Range 1 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Lower range limit | $0 | ' | ' | ' |
Upper range limit | $24.99 | ' | ' | ' |
Additional information relating to stock options outstanding and exercisable | ' | ' | ' | ' |
Number of outstanding options | 1,778,435 | ' | ' | ' |
Options outstanding , Weighted average remaining contractual life (in years) | '5 years 2 months 12 days | ' | ' | ' |
Options outstanding, Weighted average exercise price | $23.92 | ' | ' | ' |
Number of exercisable options | 1,718,735 | ' | ' | ' |
Options exercisable, Weighted average exercise price | $23.91 | ' | ' | ' |
Range 2 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Lower range limit | $25 | ' | ' | ' |
Upper range limit | $30 | ' | ' | ' |
Additional information relating to stock options outstanding and exercisable | ' | ' | ' | ' |
Number of outstanding options | 2,265,255 | ' | ' | ' |
Options outstanding , Weighted average remaining contractual life (in years) | '6 years 6 months | ' | ' | ' |
Options outstanding, Weighted average exercise price | $28.34 | ' | ' | ' |
Number of exercisable options | 1,358,454 | ' | ' | ' |
Options exercisable, Weighted average exercise price | $27.80 | ' | ' | ' |
Range 3 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Lower range limit | $30.01 | ' | ' | ' |
Upper range limit | $35 | ' | ' | ' |
Additional information relating to stock options outstanding and exercisable | ' | ' | ' | ' |
Number of outstanding options | 2,559,678 | ' | ' | ' |
Options outstanding , Weighted average remaining contractual life (in years) | '8 years 1 month 6 days | ' | ' | ' |
Options outstanding, Weighted average exercise price | $32.12 | ' | ' | ' |
Number of exercisable options | 836,872 | ' | ' | ' |
Options exercisable, Weighted average exercise price | $31.70 | ' | ' | ' |
Range 4 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Lower range limit | $35 | ' | ' | ' |
Additional information relating to stock options outstanding and exercisable | ' | ' | ' | ' |
Number of outstanding options | 192,600 | ' | ' | ' |
Options outstanding , Weighted average remaining contractual life (in years) | '9 years 7 months 6 days | ' | ' | ' |
Options outstanding, Weighted average exercise price | $39.45 | ' | ' | ' |
Number of exercisable options | 0 | ' | ' | ' |
Options exercisable, Weighted average exercise price | $0 | ' | ' | ' |
Common_Stock_and_Equity_Based_4
Common Stock and Equity Based Compensation (Details 2) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs | ' | ' | ' |
Expected life of option | '5 years 9 months | '5 years 9 months | '5 years 9 months |
Weighted average volatility | 24.90% | 24.70% | 24.30% |
Weighted average dividend yield | 3.60% | 3.50% | 3.40% |
Minimum [Member] | ' | ' | ' |
Weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs | ' | ' | ' |
Expected volatility | 24.40% | 24.70% | 23.80% |
Expected dividend yield | 3.20% | 3.30% | 3.10% |
Risk-free rate | 0.80% | 0.80% | 1.20% |
Maximum [Member] | ' | ' | ' |
Weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs | ' | ' | ' |
Expected volatility | 24.90% | 24.70% | 24.30% |
Expected dividend yield | 3.70% | 3.70% | 3.40% |
Risk-free rate | 1.70% | 1.10% | 2.40% |
Common_Stock_and_Equity_Based_5
Common Stock and Equity Based Compensation (Details 3) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs | ' | ' | ' |
Expected life | '5 years 9 months | '5 years 9 months | '5 years 9 months |
UGI Performance Units [Member] | ' | ' | ' |
Weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs | ' | ' | ' |
Risk-free rate | 0.40% | 0.40% | 1.00% |
Expected life | '3 years | '3 years | '3 years |
Expected volatility | 21.10% | 22.20% | 27.60% |
Dividend Yield | 3.30% | 3.50% | 3.20% |
Recovered_Sheet1
Common Stock And Equity Based Compensation (Details 4) (USD $) | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 254,600 | 239,845 | 285,470 | |
Weighted Average Grant Date Fair Value, Granted | $37.31 | $27.68 | $34.78 | |
UGI Performance Units and Stock Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of Equity-based Units, Ending balance | 920,601 | 885,338 | ' | |
Weighted Average Grant Date Fair Value, End of Period | $27.52 | $24.09 | ' | |
UGI Performance Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 220,575 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $37.97 | ' | ' | |
Number of UGI Units, Forfeited | -9,319 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $33.78 | ' | ' | |
Number of UGI Unit Awards, Performance criteria not met | -70,079 | ' | ' | |
Weighted Average Grant Date Fair Value, Performance criteria not met | $22.22 | ' | ' | |
Number of UGI Unit Awards Paid | -103,759 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $22.22 | ' | ' | |
UGI Stock Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 34,025 | [1] | 42,445 | 61,945 |
Weighted Average Grant Date Fair Value, Granted | $33.05 | [1] | ' | ' |
Number of UGI Unit Awards Paid | -36,180 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $36.37 | ' | ' | |
Number of Equity-based Units, Ending balance | 920,601 | ' | ' | |
Vested [Member] | UGI Performance Units and Stock Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of Equity-based Units, Ending balance | 548,650 | 580,122 | ' | |
Weighted Average Grant Date Fair Value, End of Period | $23.18 | $21.72 | ' | |
Vested [Member] | UGI Performance Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 26,818 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $38.13 | ' | ' | |
Number of UGI Units, Forfeited | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $0 | ' | ' | |
Number of UGI Units, Vested | -117,703 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $26.69 | ' | ' | |
Number of UGI Unit Awards, Performance criteria not met | -70,079 | ' | ' | |
Weighted Average Grant Date Fair Value, Performance criteria not met | $22.22 | ' | ' | |
Number of UGI Unit Awards Paid | -103,759 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $22.22 | ' | ' | |
Vested [Member] | UGI Stock Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 34,025 | [1] | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $33.05 | [1] | ' | ' |
Number of UGI Unit Awards Paid | -36,180 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $36.37 | ' | ' | |
Non-Vested [Member] | UGI Performance Units and Stock Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of Equity-based Units, Ending balance | 371,951 | 305,216 | ' | |
Weighted Average Grant Date Fair Value, End of Period | $33.93 | $28.59 | ' | |
Non-Vested [Member] | UGI Performance Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 193,757 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $37.94 | ' | ' | |
Number of UGI Units, Forfeited | -9,319 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $33.78 | ' | ' | |
Number of UGI Units, Vested | -117,703 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $26.69 | ' | ' | |
Number of UGI Unit Awards, Performance criteria not met | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Performance criteria not met | $0 | ' | ' | |
Non-Vested [Member] | UGI Stock Units [Member] | ' | ' | ' | |
UGI unit award activity | ' | ' | ' | |
Number of UGI Units, Granted | 0 | [1] | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $0 | [1] | ' | ' |
[1] | Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in shares. UGI Stock Unit awards granted in Fiscal 2012 and Fiscal 2011 were 42,445 and 61,945, respectively. |
Recovered_Sheet2
Common Stock And Equity Based Compensation (Details 5) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
UGI Performance Units [Member] | ' | ' | ' |
Payment to UGI Performance Units and UGI Stock Unit awards in share and cash: | ' | ' | ' |
Number of original awards granted | 218,683 | 210,750 | 197,917 |
Fiscal year granted | '2010 | '2009 | '2008 |
Payment of Awards: | ' | ' | ' |
Shares of UGI Common Stock issued | 65,081 | 0 | 142,494 |
Cash Paid | $1.60 | $0 | $7.50 |
UGI Stock Units [Member] | ' | ' | ' |
Payment to UGI Performance Units and UGI Stock Unit awards in share and cash: | ' | ' | ' |
Number of original awards granted | 36,179 | 32,898 | 22,400 |
Payment of Awards: | ' | ' | ' |
Shares of UGI Common Stock issued | 23,516 | 21,757 | 17,545 |
Cash Paid | $0.50 | $0.20 | $0.20 |
Recovered_Sheet3
Common Stock And Equity Based Compensation (Details 6) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Weighted average assumptions used to determine the fair value of Amerigas performance unit awards and related compensation costs | ' | ' | ' |
Expected life | '5 years 9 months | '5 years 9 months | '5 years 9 months |
AmeriGas Performance Unit [Member] | ' | ' | ' |
Weighted average assumptions used to determine the fair value of Amerigas performance unit awards and related compensation costs | ' | ' | ' |
Risk-free rate | 0.40% | 0.40% | 1.00% |
Expected life | '3 years | '3 years | '3 years |
Expected volatility | 20.70% | 23.00% | 34.60% |
Dividend Yield | 8.20% | 6.40% | 5.80% |
Recovered_Sheet4
Common Stock And Equity Based Compensation (Details 7) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 254,600 | 239,845 | 285,470 | |
Weighted Average Grant Date Fair Value, Granted | $37.31 | $27.68 | $34.78 | |
Amerigas Performance Units and Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of Equity-based Units, Ending balance | 224,167 | 263,967 | ' | |
Weighted Average Grant Date Fair Value, End of Period | $47.88 | $44.70 | ' | |
AmeriGas Performance Unit [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 44,800 | ' | ' | |
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $0.10 | [1] | $0.10 | $1.20 |
Weighted Average Grant Date Fair Value, Granted | $42.36 | ' | ' | |
Number of AmeriGas Units, Forfeited | -14,869 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $47.04 | ' | ' | |
Number of AmeriGas Units, Vested | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $0 | ' | ' | |
Number of Equity-based Units, Performance criteria not met | -43,350 | ' | ' | |
Weighted Average Grant Date Fair Value, Performance criteria not met | $42.10 | ' | ' | |
Number of Equity-based Units, Ending balance | 224,168 | ' | ' | |
AmeriGas Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 20,336 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $43.06 | ' | ' | |
Number of AmeriGas Units, Forfeited | -11,333 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $48.79 | ' | ' | |
Number of AmeriGas Units, Vested | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $0 | ' | ' | |
Number of AmeriGas Unit Awards Paid | -35,384 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $47.04 | ' | ' | |
Vested [Member] | Amerigas Performance Units and Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of Equity-based Units, Ending balance | 47,715 | 65,651 | ' | |
Weighted Average Grant Date Fair Value, End of Period | $47.92 | $45.42 | ' | |
Vested [Member] | AmeriGas Performance Unit [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 1,332 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $41.64 | ' | ' | |
Number of AmeriGas Units, Forfeited | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $0 | ' | ' | |
Number of AmeriGas Units, Vested | -20,115 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $43.68 | ' | ' | |
Number of Equity-based Units, Performance criteria not met | -43,350 | ' | ' | |
Weighted Average Grant Date Fair Value, Performance criteria not met | $42.10 | ' | ' | |
Vested [Member] | AmeriGas Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 8,442 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $39.07 | ' | ' | |
Number of AmeriGas Units, Forfeited | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $0 | ' | ' | |
Number of AmeriGas Units, Vested | -30,909 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $48.92 | ' | ' | |
Number of AmeriGas Unit Awards Paid | -35,384 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $47.04 | ' | ' | |
Non Vested [Member] | Amerigas Performance Units and Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of Equity-based Units, Ending balance | 176,452 | 198,316 | ' | |
Weighted Average Grant Date Fair Value, End of Period | $47.87 | $44.47 | ' | |
Non Vested [Member] | AmeriGas Performance Unit [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 43,468 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $42.38 | ' | ' | |
Number of AmeriGas Units, Forfeited | -14,869 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $47.04 | ' | ' | |
Number of AmeriGas Units, Vested | -20,115 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $43.68 | ' | ' | |
Number of Equity-based Units, Performance criteria not met | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Performance criteria not met | $0 | ' | ' | |
Non Vested [Member] | AmeriGas Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 11,894 | ' | ' | |
Weighted Average Grant Date Fair Value, Granted | $45.90 | ' | ' | |
Number of AmeriGas Units, Forfeited | -11,333 | ' | ' | |
Weighted Average Grant Date Fair Value, Forfeited | $48.79 | ' | ' | |
Number of AmeriGas Units, Vested | -30,909 | ' | ' | |
Weighted Average Grant Date Fair Value, Vested | $48.92 | ' | ' | |
Number of AmeriGas Unit Awards Paid | 0 | ' | ' | |
Weighted Average Grant Date Fair Value, Unit awards paid | $0 | ' | ' | |
Heritage Propane [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards | $0 | $0.90 | ' | |
Heritage Propane [Member] | AmeriGas Stock Units [Member] | ' | ' | ' | |
AmeriGas Common Unit Based Award Activity | ' | ' | ' | |
Number of AmeriGas units, Granted | 19,342 | 40,516 | ' | |
[1] | In addition, during Fiscal 2013 and 2012, 19,342 AmeriGas Stock Units and $0.5 in cash, and 40,516 AmeriGas Stock Units and $0.9 in cash, respectively, were paid to former Heritage Propane employees associated with awards granted in Fiscal 2012. |
Recovered_Sheet5
Common Stock And Equity Based Compensation (Details 8) (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number of UGI Units, Granted | 254,600 | 239,845 | 285,470 | |
AmeriGas Stock Units [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number of UGI Units, Granted | 20,336 | ' | ' | |
AmeriGas Performance Unit [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number of UGI Units, Granted | 44,800 | ' | ' | |
AmeriGas Common Unit based awards in common Units and cash | ' | ' | ' | |
Number of Common Units subject to original awards granted | 54,750 | [1] | 60,200 | 41,064 |
Fiscal year granted | '2010 | [1] | '2009 | '2008 |
Payment of Awards: | ' | ' | ' | |
AmeriGas Partners common Units issued | 3,850 | [1] | 3,500 | 35,787 |
Cash Paid | 0.1 | [1] | 0.1 | 1.2 |
Heritage Propane [Member] | ' | ' | ' | |
Payment of Awards: | ' | ' | ' | |
Cash Paid | 0 | 0.9 | ' | |
Heritage Propane [Member] | AmeriGas Stock Units [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Number of UGI Units, Granted | 19,342 | 40,516 | ' | |
[1] | In addition, during Fiscal 2013 and 2012, 19,342 AmeriGas Stock Units and $0.5 in cash, and 40,516 AmeriGas Stock Units and $0.9 in cash, respectively, were paid to former Heritage Propane employees associated with awards granted in Fiscal 2012. |
Recovered_Sheet6
Common Stock And Equity Based Compensation (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Jun. 30, 2010 | Jan. 12, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
Employee Stock Option [Member] | Equity Instruments Other Than Option [Member] | Omnibus Equity Compensation Plan [Member] | 2010 Propane Plan [Member] | 2010 Propane Plan [Member] | 2010 Propane Plan [Member] | 2010 Propane Plan [Member] | UGI Stock Units [Member] | UGI Stock Units [Member] | UGI Stock Units [Member] | UGI Performance Units [Member] | UGI Performance Units [Member] | UGI Performance Units [Member] | AmeriGas Performance Unit [Member] | AmeriGas Performance Unit [Member] | AmeriGas Performance Unit [Member] | AmeriGas Performance Unit [Member] | Heritage Propane [Member] | Noncontrolling interests | Noncontrolling interests | Noncontrolling interests | Noncontrolling interests | AmeriGas Partners [Member] | 2004 OECP [Member] | 2013 OICP [Member] | ||||||
UGI Performance Units [Member] | UGI Performance Units [Member] | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Common units issued by AmeriGas Partners (in units) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,567,362 | ' | ' | ' | ' | ' | ' | ' | |
Units sold in public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | ' | ' | |
Increase in Stockholders' Equity, Net of Deferred Income Taxes | $196.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Adjustments to reflect change in ownership of AmeriGas Partners, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -321.4 | 0 | -321.4 | 0 | ' | ' | ' | |
Pre-tax equity-based compensation expense | ' | 17.6 | 14.5 | 15.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
After tax equity-based compensation expense | ' | 11.4 | 8.7 | 10.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Options can be exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'no later than ten years from the grant date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Granted Under Plan Term (in years) | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Shares of UGI Common Stock granted as awards | ' | ' | ' | ' | 14,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | |
Cash received from stock option exercises | ' | 30.8 | 9.4 | 22.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Associated tax benefits | ' | 12.1 | 2.3 | 3.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Unrecognized compensation cost associated with unvested Amerigas unit awards | ' | 5.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.3 | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted-average fair value of stock option granted under stock plans | ' | $4.93 | $4.31 | $5.40 | ' | ' | ' | ' | $42.58 | $43.22 | $53.19 | ' | ' | ' | $37.97 | $27.25 | $35.19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Award performance period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | |
Target award paid to employee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'grantees may receive 0% to 200% of the target award granted. For such grants, if UGI’s TSR ranks below the 40th percentile compared to the UGI comparator group, the employee will not be paid. At the 40th percentile, the employee will be paid an award equal to 50% of the target award; at the 50th percentile, 100%; and at the 100th percentile, 200% | 'grantees may receive 0% to 200% of the target award granted. For such grants, if UGI’s TSR ranks below the 25th percentile compared to the UGI comparator group, the employee will not be paid. At the 40th percentile, the employee will be paid an award equal to 70% of the target award; at the 50th percentile, 100%; and at the 90th percentile, 200% | |
Minimum percentage amount of guarantee on target award granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | |
Maximum percentage amount of guarantee on target award granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200.00% | 200.00% | |
Percentage of target award paid at 40th percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 70.00% | |
Percentage of target award paid at 50th percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | |
Percentage of target award paid at 100th percentile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200.00% | 200.00% | |
Expected term of Performance Unit awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Shares granted under UGI Stock Unit awards | ' | 'approximately 70% in shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number of UGI Units, Granted | ' | 254,600 | 239,845 | 285,470 | ' | ' | ' | ' | 65,136 | 248,818 | 49,287 | 34,025 | [1] | 42,445 | 61,945 | 220,575 | ' | ' | 44,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value unit awards | ' | $37.31 | $27.68 | $34.78 | ' | ' | ' | ' | ' | ' | ' | $33.05 | [1] | ' | ' | $37.97 | ' | ' | $42.36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost associated with common unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 920,601 | ' | ' | ' | ' | ' | 224,168 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted-average period for unvested Amerigas unit awards | ' | '1 year 10 months 24 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 0 months 0 days | ' | ' | ' | ' | ' | '1 year 10 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Performance units ultimately paid | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number of common units subject to original awards granted | ' | ' | ' | ' | ' | 187,543 | 13,449,649 | ' | 2,484,839 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Fair value of AmeriGas units vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 3.6 | 6.8 | ' | ' | ' | 2.8 | 5.1 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Liabilities associated with share based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8 | $5 | ' | ' | ' | ' | $1.10 | $1.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in shares. UGI Stock Unit awards granted in Fiscal 2012 and Fiscal 2011 were 42,445 and 61,945, respectively. |
Partnership_Distributions_and_1
Partnership Distributions and Common Unit Offering (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Mar. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2012 | |
AmeriGas Partners [Member] | Senior Notes [Member] | Senior Notes [Member] | ||||
6.50% Pursuant o Tender Offer [Member] | ||||||
AmeriGas Partners [Member] | ||||||
Distributions Made to Member or Limited Partner [Line Items] | ' | ' | ' | ' | ' | ' |
Policy for distribution to partner | '45Â days after the end of each fiscal quarter in a total amount equal to its Available Cash (as defined in the Partnership Agreement) for such quarter | ' | ' | ' | ' | ' |
Approximate distributions day range to partners (in days) | '45 days | ' | ' | ' | ' | ' |
Pre-Incentive distribution of the available cash to Limited Partners | 98.00% | ' | ' | ' | ' | ' |
Pre-Incentive distribution of available cash to General Partners | 2.00% | ' | ' | ' | ' | ' |
General Partner Interest in AmeriGas partners | 1.00% | ' | ' | ' | ' | ' |
General Partner Interest in AmeriGas OLP | 1.01% | ' | ' | ' | ' | ' |
Minimum quarterly distribution | $0.55 | ' | ' | ' | ' | ' |
First target distribution | $0.06 | ' | ' | ' | ' | ' |
Incentive distribution policy | 'When Available Cash exceeds $0.605 per Common Unit in any quarter, the General Partner will receive a greater percentage of the total Partnership distribution (the “incentive distributionâ€) but only with respect to the amount by which the distribution per Common Unit to limited partners exceeds $0.605 | ' | ' | ' | ' | ' |
Minimum available cash for per common unit | $0.61 | ' | ' | ' | ' | ' |
General Partners distribution based on ownership interest | $27,400,000 | $19,700,000 | $9,000,000 | ' | ' | ' |
Incentive distributions received by the General partner | 19,300,000 | 13,000,000 | 5,000,000 | ' | ' | ' |
Units sold in public offering | ' | ' | ' | 7,000,000 | ' | ' |
Underwriteen public offering price per unit | ' | ' | ' | 41.25 | ' | ' |
Issuances of AmeriGas Partners Common Units | 0 | 276,600,000 | 0 | 276,600,000 | ' | ' |
General partners' contributed capital | ' | ' | ' | 2,800,000 | ' | ' |
Aggregate principal amount | ' | ' | ' | ' | ' | $200,000,000 |
Interest rate stated percentage | ' | ' | ' | ' | 7.13% | 6.50% |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Minimum future payments under operating leases | ' |
2014 | $66.70 |
2015 | 53.5 |
2016 | 43.8 |
2017 | 33.2 |
2018 | 25.7 |
After 2018 | 58.2 |
AmeriGas Propane [Member] | ' |
Minimum future payments under operating leases | ' |
2014 | 51 |
2015 | 41.4 |
2016 | 33.7 |
2017 | 26.6 |
2018 | 21.7 |
After 2018 | 55.8 |
UGI Utilities [Member] | ' |
Minimum future payments under operating leases | ' |
2014 | 5.5 |
2015 | 4.7 |
2016 | 4.2 |
2017 | 2.7 |
2018 | 2 |
After 2018 | 1.3 |
UGI International [Member] | ' |
Minimum future payments under operating leases | ' |
2014 | 8.2 |
2015 | 5.8 |
2016 | 4.5 |
2017 | 3.3 |
2018 | 1.8 |
After 2018 | 1 |
Other Businesses [Member] | ' |
Minimum future payments under operating leases | ' |
2014 | 2 |
2015 | 1.6 |
2016 | 1.4 |
2017 | 0.6 |
2018 | 0.2 |
After 2018 | 0.1 |
Environmental Issue [Member] | CPG MGP [Member] | ' |
Commitments and Contingencies [Line Items] | ' |
Environmental Expenditures Cap During Calendar Year | 0 |
Environmental Issue [Member] | PNG MGP [Member] | ' |
Commitments and Contingencies [Line Items] | ' |
Environmental Expenditures Cap During Calendar Year | $0 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details 1) (USD $) | Sep. 30, 2013 |
In Millions, unless otherwise specified | |
Contractual obligations under supply, storage and service contracts | ' |
2014 | $771 |
2015 | 476.4 |
2016 | 186.4 |
2017 | 32.4 |
2018 | 28 |
After 2018 | 72.1 |
UGI Utilities supply, storage and transportation contracts | ' |
Contractual obligations under supply, storage and service contracts | ' |
2014 | 151.6 |
2015 | 80.3 |
2016 | 50.9 |
2017 | 31.2 |
2018 | 28 |
After 2018 | 72.1 |
Midstream & Marketing supply contracts | ' |
Contractual obligations under supply, storage and service contracts | ' |
2014 | 244.4 |
2015 | 109.1 |
2016 | 12.3 |
2017 | 1.2 |
2018 | 0 |
After 2018 | 0 |
AmeriGas Propane supply contracts | ' |
Contractual obligations under supply, storage and service contracts | ' |
2014 | 176.9 |
2015 | 97.1 |
2016 | 22.2 |
2017 | 0 |
2018 | 0 |
After 2018 | 0 |
UGI International supply contracts | ' |
Contractual obligations under supply, storage and service contracts | ' |
2014 | 198.1 |
2015 | 189.9 |
2016 | 101 |
2017 | 0 |
2018 | 0 |
After 2018 | $0 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Details Textual) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2008 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Gas Utility [Member] | Midstream and Marketing [Member] | Partnership [Member] | Partnership [Member] | CPG MGP Properties [Member] | PNG MGP Properties [Member] | Antargaz Competition Authority [Member] | Environmental Issue [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||
lb | UGI International [Member] | |||||||||||||
Partnership [Member] | ||||||||||||||
Commitments and Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate rental expense for leases | $82.50 | $77.90 | $69.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of contracts | ' | ' | ' | '1 year | '2 years | '3 years | ' | ' | ' | ' | ' | ' | ' | '3 years |
Contract Terms, Subject to Annual Price And Quantity Adjustments (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '3 years | ' |
Environmental expenditures | ' | ' | ' | ' | ' | ' | ' | 1.8 | 1.1 | ' | ' | ' | ' | ' |
Accrued liabilities for environmental investigation and remediation costs related to CPG-COA and PNG-COA | 14 | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Base Year for Determination of Investigation and Remediation Cost (in years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' |
Amount of propane in cylinders being sold | ' | ' | ' | ' | ' | ' | 17 | ' | ' | ' | ' | ' | ' | ' |
Reduced amount of propane in cylinders being sold | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' |
Reversal of Competition Authority Matter Accrual | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.40 | ' | ' | ' | ' |
Fair_Value_Measurement_Details
Fair Value Measurement (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Commodity contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | $23.30 | $13.10 |
Derivative financial instruments, liabilities | -16 | -61 |
Foreign currency contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0.9 | 1.8 |
Derivative financial instruments, liabilities | -7.2 | ' |
Interest rate contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -31 | -71.9 |
Cross Currency Interest Rate Contract [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -1.2 | ' |
Fair Value, Inputs, Level 1 [Member] | Commodity contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 2.1 | 8.6 |
Derivative financial instruments, liabilities | -9.7 | -7.8 |
Fair Value, Inputs, Level 1 [Member] | Foreign currency contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Derivative financial instruments, liabilities | 0 | ' |
Fair Value, Inputs, Level 1 [Member] | Interest rate contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Cross Currency Interest Rate Contract [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | 0 | ' |
Fair Value, Inputs, Level 2 [Member] | Commodity contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 21.2 | 4.5 |
Derivative financial instruments, liabilities | -6.3 | -53.2 |
Fair Value, Inputs, Level 2 [Member] | Foreign currency contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0.9 | 1.8 |
Derivative financial instruments, liabilities | -7.2 | ' |
Fair Value, Inputs, Level 2 [Member] | Interest rate contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -31 | -71.9 |
Fair Value, Inputs, Level 2 [Member] | Cross Currency Interest Rate Contract [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -1.2 | ' |
Fair Value, Inputs, Level 3 [Member] | Commodity contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Derivative financial instruments, liabilities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Foreign currency contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Derivative financial instruments, liabilities | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | Interest rate contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Cross Currency Interest Rate Contract [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | $0 | ' |
Fair_Value_Measurement_Details1
Fair Value Measurement (Details Textual) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Long-term Debt | $3,609.40 | $3,514.30 |
Estimated fair value long-term debt | $3,761.80 | $3,787.60 |
Disclosures_About_Derivative_I2
Disclosures About Derivative Instruments and Hedging Activities (Details) | Sep. 30, 2013 | Sep. 30, 2012 |
DTH | DTH | |
Natural Gas (millions of kilowatt hours) [Member] | ' | ' |
Outstanding derivative commodity instruments volumes | ' | ' |
Outstanding derivative commodity instruments volumes | 24,300,000 | 23,600,000 |
Electricity (millions of kilowatt-hours) [Member] | Call Option [Member] | ' | ' |
Outstanding derivative commodity instruments volumes | ' | ' |
Outstanding derivative commodity instruments volumes | 754,400,000 | 1,415,700,000 |
Electricity (millions of kilowatt-hours) [Member] | Put Option [Member] | ' | ' |
Outstanding derivative commodity instruments volumes | ' | ' |
Outstanding derivative commodity instruments volumes | 393,000,000 | 135,300,000 |
Designated as Hedging Instrument [Member] | LPG (millions of gallons) [Member] | ' | ' |
Outstanding derivative commodity instruments volumes | ' | ' |
Outstanding derivative commodity instruments volumes | 279,000,000 | 243,900,000 |
Designated as Hedging Instrument [Member] | Electricity (millions of kilowatt-hours) [Member] | Call Option [Member] | ' | ' |
Outstanding derivative commodity instruments volumes | ' | ' |
Outstanding derivative commodity instruments volumes | 594,800,000 | 1,151,700,000 |
Disclosures_About_Derivative_I3
Disclosures About Derivative Instruments and Hedging Activities (Details 1) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | $24.20 | $14.90 |
Total Derivatives Liability | -55.4 | -132.9 |
Designated as Hedging Instrument [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | 17 | 5.1 |
Total Derivatives Liability | -42 | -115.5 |
Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | 0 | 0 |
Derivatives Not Designated as Hedging Instruments [Member] | Commodity Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Liability | -6.7 | -8 |
Derivative Financial Instruments and Other Assets [Member] | Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | 16.1 | 3.3 |
Derivative Financial Instruments and Other Assets [Member] | Designated as Hedging Instrument [Member] | Foreign currency contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | 0.9 | 1.8 |
Derivative Financial Instruments and Other Assets [Member] | Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | 0 | 0 |
Derivative Financial Instruments and Other Assets [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Commodity Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | 7.2 | 4.5 |
Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | Designated as Hedging Instrument [Member] | Commodity Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Liability | -2.6 | -43.6 |
Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | Designated as Hedging Instrument [Member] | Foreign currency contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Liability | -7.2 | 0 |
Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Contract [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Liability | -1.2 | 0 |
Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Liability | -31 | -71.9 |
Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | Accounted for Under ASC 980 [Member] | Commodity Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Liability | -6.7 | -9.4 |
Derivative Financial Instruments [Member] | Accounted for Under ASC 980 [Member] | Commodity Contracts [Member] | ' | ' |
Balance sheet location and fair value of derivative assets and liabilities | ' | ' |
Total Derivatives Assets | $0 | $5.30 |
Disclosures_About_Derivative_I4
Disclosures About Derivative Instruments and Hedging Activities (Details 2) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Derivatives Not Designated as Hedging Instruments [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Gain or (Loss) Recognized in Income | $8.90 | $0.80 | $23.90 |
Cash Flow Hedges [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Derivative instruments gain loss recognized in other comprehensive income and noncontrolling interests effective portion | 21.7 | -135.3 | -1.6 |
Derivative instruments gain loss reclassified from other comprehensive income and noncontrolling interest into income effective portion | -63.8 | -70.8 | 20.4 |
Commodity Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Cost of Sales [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Gain or (Loss) Recognized in Income | 9.3 | 0.1 | 29.7 |
Commodity Contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Operating Expenses/Other Income [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Gain or (Loss) Recognized in Income | ' | 0.2 | 0.3 |
Commodity Contracts [Member] | Cash Flow Hedges [Member] | Cost of Sales [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Derivative instruments gain loss recognized in other comprehensive income and noncontrolling interests effective portion | 8.3 | -98 | 27.3 |
Derivative instruments gain loss reclassified from other comprehensive income and noncontrolling interest into income effective portion | -49.5 | -61.4 | 35.3 |
Foreign currency contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Other Income [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Gain or (Loss) Recognized in Income | -0.4 | 0.5 | -6.1 |
Foreign currency contracts [Member] | Cash Flow Hedges [Member] | Cost of Sales [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Derivative instruments gain loss recognized in other comprehensive income and noncontrolling interests effective portion | -8.3 | -0.5 | 6.9 |
Derivative instruments gain loss reclassified from other comprehensive income and noncontrolling interest into income effective portion | -0.1 | 2.1 | -0.8 |
Foreign currency contracts [Member] | Net Investment Hedges [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Derivative instruments gain loss recognized in other comprehensive income and noncontrolling interests effective portion | 0 | 0.6 | 0.2 |
Cross Currency Interest Rate Contract [Member] | Cash Flow Hedges [Member] | Cost of Sales [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Derivative instruments gain loss recognized in other comprehensive income and noncontrolling interests effective portion | -1.2 | 0 | 0 |
Derivative instruments gain loss reclassified from other comprehensive income and noncontrolling interest into income effective portion | 0 | 0 | 0 |
Interest Rate Contracts [Member] | Cash Flow Hedges [Member] | Interest Expense/Other Income [Member] | ' | ' | ' |
Effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI and noncontrolling interest | ' | ' | ' |
Derivative instruments gain loss recognized in other comprehensive income and noncontrolling interests effective portion | 22.9 | -36.8 | -35.8 |
Derivative instruments gain loss reclassified from other comprehensive income and noncontrolling interest into income effective portion | ($14.20) | ($11.50) | ($14.10) |
Disclosures_About_Derivative_I5
Disclosures About Derivative Instruments and Hedging Activities (Details Textual) | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Aug. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 |
USD ($) | USD ($) | USD ($) | Interest Rate Swaps [Member] | Interest Rate Swaps [Member] | Foreign Currency [Member] | Foreign Currency [Member] | Interest Rate Protection Agreements [Member] | Interest Rate Protection Agreements [Member] | Cross Currency Interest Rate Contract [Member] | Net Investment Hedges [Member] | Net Investment Hedges [Member] | Electric transmission congestion - Electric Utility [Member] | Electric transmission congestion - Electric Utility [Member] | Electric transmission congestion (excluding Electric Utility) [Member] | Electric transmission congestion (excluding Electric Utility) [Member] | LPG [Member] | Natural Gas [Member] | Natural Gas [Member] | Electricity (millions of kilowatt-hours) [Member] | Electricity (millions of kilowatt-hours) [Member] | Electricity (millions of kilowatt-hours) [Member] | Electricity (millions of kilowatt-hours) [Member] | Brokerage Accounts [Member] | Gas Utility [Member] | Gas Utility [Member] | Electric Utility - Forward Contract [Member] | Electric Utility - Forward Contract [Member] | Midstream And Marketing Natural Gas [Member] | Midstream And Marketing Natural Gas [Member] | Midstream And Marketing Propane Storage [Member] | Midstream And Marketing Propane Storage [Member] | Senior Notes [Member] | |
EUR (€) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | EUR (€) | kWh | kWh | kWh | kWh | DTH | DTH | Call Option [Member] | Call Option [Member] | Put Option [Member] | Put Option [Member] | USD ($) | DTH | DTH | USD ($) | USD ($) | DTH | DTH | gal | gal | ||||||
kWh | kWh | kWh | kWh | kWh | kWh | ||||||||||||||||||||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount (in units) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 189,300,000 | 189,700,000 | 1,401,900,000 | 988,800,000 | ' | 24,300,000 | 23,600,000 | 754,400,000 | 1,415,700,000 | 393,000,000 | 135,300,000 | ' | 15,000,000 | 19,200,000 | 245,800,000 | 570,400,000 | 2,900,000 | 4,300,000 | 2,800,000 | 3,100,000 | ' |
Maximum length of time hedged in price risk cash flow hedges | ' | ' | ' | ' | ' | '30 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '24 months | ' | ' | '24 months | ' | ' | ' | ' | '12 months | ' | '8 months | ' | ' | ' | ' | ' | ' |
Fair values of electric utility's forward purchase power agreements | ' | $55.40 | $132.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.80 | $9.20 | ' | ' | ' | ' | ' |
Maximum period of hedging exposure to variability in cash flows associated with price risk, weighted average | ' | ' | ' | ' | ' | '11 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | '8 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net losses associated with commodity price risk hedges expected to be reclassified into earnings during the next twelve months | ' | -13.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Underlying variable rate debt | ' | ' | ' | 440.5 | 441.9 | 200.2 | 174.5 | 173 | 0 | 52 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded loss amount included in Other Income, Net | ' | ' | ' | ' | ' | ' | ' | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of net losses associated with interest rate hedges to be reclassified with interest rate hedges during the next 12 months | ' | -2.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum approximate range of estimated dollar-denominated purchases of LPG | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum approximate range of estimated dollar-denominated purchases of LPG | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of net losses associated with currency rate risk to be reclassified into earnings during the next 12 months | ' | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted Cash in brokerage accounts | ' | 8.3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of settled but unamortized interest rate protection agreements included in extinguishment of debt | $2.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.13% |
Energy_Services_Accounts_Recei1
Energy Services Accounts Receivable Securitization Facility (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Receivables facility | $100 | ' | ' |
Outstanding balance of trade receivables | 55 | 43.5 | ' |
Outstanding balance of trade receivables sold | 30 | 0 | ' |
Period One [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Receivables Facility, Maximum Borrowing Capacity | 150 | ' | ' |
Period Two [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Receivables Facility, Maximum Borrowing Capacity | 75 | ' | ' |
Energy Services [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Sale of trade receivables | 975.3 | 836 | 1,134.90 |
Energy Services Funding Corporation [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Sale of undivided interests in its trade receivables to the commercial paper conduit | 291 | 286 | 88 |
Losses on sales of receivables to commercial paper conduit included in interest expenses | 0.7 | ' | ' |
Losses on sale of receivables to the commercial paper | ' | $1 | $1.20 |
Other_Income_Net_Details
Other Income Net (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Other Cost and Expense Disclosure, Operating [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and interest-related income | ' | ' | ' | ' | ' | ' | ' | ' | $2.20 | $2.40 | $2.30 |
Antargaz Competition Authority matter | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 9.4 |
Utility non-tariff service income | ' | ' | ' | ' | ' | ' | ' | ' | 2.8 | 2.7 | 6.4 |
Foreign currency hedge gain (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | 0.5 | -6.1 |
Finance charges | ' | ' | ' | ' | ' | ' | ' | ' | 21.4 | 18.8 | 15.1 |
Other-than-temporary impairment of an investment in a private equity partnership pre-tax loss | 6.3 | ' | ' | ' | ' | ' | ' | ' | 6.3 | 0 | 0 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 13.1 | 15.4 | 18.4 |
Total other income, net | $8.30 | $7 | $7.50 | $10 | $10.80 | $8.10 | $12.80 | $8.10 | $32.80 | $39.80 | $45.50 |
Quarterly_Data_Unaudited_Detai
Quarterly Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||
Revenues | $1,259 | $1,374.30 | $2,542.70 | $2,018.70 | $1,126 | $1,280.70 | $2,427.80 | $1,686.80 | $7,194.70 | $6,521.30 | $6,090.90 | ||
Cost of sales (excluding depreciation shown below) | 785.4 | 836.8 | 1,486.70 | 1,215.50 | 659.8 | 792.7 | 1,524.30 | 1,122.30 | ' | ' | ' | ||
Operating and administrative expenses | 396.1 | 407.5 | 461.5 | 426.9 | 400.1 | 404.5 | 443.8 | 342.7 | 1,692 | 1,591.10 | 1,267 | ||
Utility taxes other than income taxes | 4.2 | 3.7 | 4.7 | 4.3 | 4.4 | 3.9 | 4.9 | 4.1 | 16.9 | 17.3 | 16.6 | ||
Depreciation | 78.5 | 76.4 | 74 | 72.5 | 72.4 | 69.4 | 68.5 | 52.9 | 301.4 | 263.2 | 201 | ||
Amortization | 15.4 | 15.4 | 15.6 | 15.3 | 15.1 | 15.1 | 14.1 | 7.5 | 61.7 | 51.8 | 26.7 | ||
Other income, net | -8.3 | -7 | -7.5 | -10 | -10.8 | -8.1 | -12.8 | -8.1 | -32.8 | -39.8 | -45.5 | ||
Total costs and expenses | 1,271.30 | 1,332.80 | 2,035 | 1,724.50 | 1,141 | 1,277.50 | 2,042.80 | 1,521.40 | 6,363.60 | 5,982.70 | 5,448.50 | ||
Operating income | -12.3 | 41.5 | 507.7 | 294.2 | -15 | 3.2 | 385 | 165.4 | 831.1 | 538.6 | 642.4 | ||
Loss from equity investees | -0.5 | ' | 0.1 | ' | -0.1 | -0.1 | ' | -0.1 | -0.4 | -0.3 | -0.9 | ||
(Loss) gain on extinguishments of debt | ' | ' | ' | ' | 0 | 0.1 | -13.4 | 0 | ' | -13.3 | -38.1 | ||
Interest expense | -59.5 | -59.2 | -60.1 | -61.5 | -61 | -60.9 | -62.5 | -36 | -240.3 | -220.4 | -138 | ||
Income before income taxes | -72.3 | -17.7 | 447.7 | 232.7 | -76.1 | -57.7 | 309.1 | 129.3 | 590.4 | 304.6 | 465.4 | ||
Income taxes | 13.2 | -5.1 | -106 | -64.9 | 7.7 | -4.1 | -77.2 | -33.3 | -162.8 | -106.9 | -145.4 | ||
Net income (loss) | -59.1 | -22.8 | 341.7 | 167.8 | -68.4 | -61.8 | 231.9 | 96 | 427.6 | 197.7 | 320 | ||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | 44.9 | 31.9 | -161 | -65.3 | 62.1 | 67.1 | -95.6 | -21.1 | -149.5 | 12.5 | -74.6 | ||
Net income (loss) attributable to UGI Corporation | -14.2 | 9.1 | 180.7 | 102.5 | -6.3 | 5.3 | 136.3 | 74.9 | 278.1 | 210.2 | 245.4 | ||
Earnings (loss) per share attributable to UGI stockholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Basic (in dollars per share) | ($0.12) | $0.08 | $1.59 | $0.91 | ($0.06) | $0.05 | $1.21 | $0.67 | $2.44 | $1.87 | $2.20 | ||
Diluted (in dollars per share) | ($0.12) | $0.08 | $1.57 | $0.90 | ($0.06) | $0.05 | $1.20 | $0.66 | $2.41 | $1.85 | $2.17 | ||
Shares used in computing basic and diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Basic (in shares) | 114,598 | 114,240 | 113,709 | 113,136 | 112,868 | 112,726 | 112,510 | 112,240 | 113,923 | [1] | 112,581 | [1] | 111,674 |
Diluted (in shares) | 114,598 | 116,196 | 115,199 | 114,490 | 112,868 | 113,504 | 113,239 | 113,152 | 115,521 | [1] | 113,432 | [1] | 112,944 |
As Previously Reported | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revenues | ' | 1,372.30 | 2,537.10 | 2,023.20 | 1,125.70 | 1,277.20 | 2,427.50 | 1,688.80 | ' | ' | ' | ||
Cost of sales (excluding depreciation shown below) | ' | 827.9 | 1,500.60 | 1,218.80 | 672.6 | 810.2 | 1,526.60 | 1,101.80 | ' | ' | ' | ||
Operating and administrative expenses | ' | 404.7 | 465.8 | 426.9 | 400.2 | 405.8 | 443.3 | 342.4 | ' | 1,591.70 | 1,266.40 | ||
Utility taxes other than income taxes | ' | 3.7 | 4.7 | 4.3 | 4.4 | 3.9 | 4.9 | 4.1 | ' | ' | ' | ||
Depreciation | ' | 76.5 | 71.7 | 71.8 | 73.2 | 69.5 | 68.7 | 52.8 | ' | 264.2 | 201.2 | ||
Amortization | ' | 15.4 | 15.6 | 15.3 | 15.1 | 15.1 | 14.1 | 7.5 | ' | ' | ' | ||
Other income, net | ' | -9 | -7.5 | -10 | -11.2 | -8.1 | -10.9 | -8.1 | ' | -38.3 | -46.5 | ||
Total costs and expenses | ' | 1,319.20 | 2,050.90 | 1,727.10 | 1,154.30 | 1,296.40 | 2,046.70 | 1,500.50 | ' | ' | ' | ||
Operating income | ' | 53.1 | 486.2 | 296.1 | -28.6 | -19.2 | 380.8 | 188.3 | ' | 521.3 | 616 | ||
Loss from equity investees | ' | ' | 0.1 | ' | -0.1 | -0.1 | ' | -0.1 | ' | ' | ' | ||
(Loss) gain on extinguishments of debt | ' | ' | ' | ' | 0 | 0.1 | -13.4 | 0 | ' | ' | ' | ||
Interest expense | ' | -59.2 | -60.1 | -60.3 | -58.9 | -61.3 | -65.3 | -36 | ' | -221.5 | -138 | ||
Income before income taxes | ' | -6.1 | 426.2 | 235.8 | -87.6 | -80.5 | 302.1 | 152.2 | ' | 286.2 | 439 | ||
Income taxes | ' | -9 | -100 | -65.1 | 13.6 | 4 | -75.1 | -42.1 | ' | -99.6 | -130.8 | ||
Net income (loss) | ' | -15.1 | 326.2 | 170.7 | -74 | -76.5 | 227 | 110.1 | ' | 186.6 | 308.2 | ||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | ' | 29.8 | -154.3 | -68.1 | 59.3 | 70.2 | -93.6 | -23.1 | ' | 12.8 | -75.3 | ||
Net income (loss) attributable to UGI Corporation | ' | 14.7 | 171.9 | 102.6 | -14.7 | -6.3 | 133.4 | 87 | ' | 199.4 | 232.9 | ||
Earnings (loss) per share attributable to UGI stockholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Basic (in dollars per share) | ' | $0.13 | $1.51 | $0.91 | ($0.13) | ($0.06) | $1.19 | $0.78 | ' | $1.77 | $2.09 | ||
Diluted (in dollars per share) | ' | $0.13 | $1.49 | $0.90 | ($0.13) | ($0.06) | $1.18 | $0.77 | ' | $1.76 | $2.06 | ||
Shares used in computing basic and diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Basic (in shares) | ' | 114,240 | 113,709 | 113,136 | 112,868 | 112,726 | 112,510 | 112,240 | ' | ' | ' | ||
Diluted (in shares) | ' | 116,196 | 115,199 | 114,490 | 112,868 | 112,726 | 113,239 | 113,152 | ' | ' | ' | ||
Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revenues | ' | 2 | 5.6 | -4.5 | 0.3 | 3.5 | 0.3 | -2 | ' | ' | ' | ||
Cost of sales (excluding depreciation shown below) | ' | 8.9 | -13.9 | -3.3 | -12.8 | -17.5 | -2.3 | 20.5 | ' | ' | ' | ||
Operating and administrative expenses | ' | 2.8 | -4.3 | ' | -0.1 | -1.3 | 0.5 | 0.3 | ' | -0.6 | 0.6 | ||
Utility taxes other than income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Depreciation | ' | -0.1 | 2.3 | 0.7 | -0.8 | -0.1 | -0.2 | 0.1 | ' | -1 | -0.2 | ||
Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Other income, net | ' | 2 | ' | ' | 0.4 | ' | -1.9 | ' | ' | -1.5 | 1 | ||
Total costs and expenses | ' | 13.6 | -15.9 | -2.6 | -13.3 | -18.9 | -3.9 | 20.9 | ' | ' | ' | ||
Operating income | ' | -11.6 | 21.5 | -1.9 | 13.6 | 22.4 | 4.2 | -22.9 | ' | 17.3 | 26.4 | ||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
(Loss) gain on extinguishments of debt | ' | ' | ' | ' | 0 | 0 | 0 | 0 | ' | ' | ' | ||
Interest expense | ' | ' | ' | -1.2 | -2.1 | 0.4 | 2.8 | ' | ' | 1.1 | ' | ||
Income before income taxes | ' | -11.6 | 21.5 | -3.1 | 11.5 | 22.8 | 7 | -22.9 | ' | 18.4 | 26.4 | ||
Income taxes | ' | 3.9 | -6 | 0.2 | -5.9 | -8.1 | -2.1 | 8.8 | ' | -7.3 | -14.6 | ||
Net income (loss) | ' | -7.7 | 15.5 | -2.9 | 5.6 | 14.7 | 4.9 | -14.1 | ' | 11.1 | 11.8 | ||
(Deduct net income) add net loss attributable to noncontrolling interests, principally in AmeriGas Partners | ' | 2.1 | -6.7 | 2.8 | 2.8 | -3.1 | -2 | 2 | ' | -0.3 | 0.7 | ||
Net income (loss) attributable to UGI Corporation | ' | -5.6 | 8.8 | -0.1 | 8.4 | 11.6 | 2.9 | -12.1 | ' | 10.8 | 12.5 | ||
Earnings (loss) per share attributable to UGI stockholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Diluted (in dollars per share) | ' | ($0.05) | $0.08 | $0 | $0.07 | $0.10 | $0.03 | ($0.11) | ' | $0.09 | $0.11 | ||
Midstream & Marketing hedge accounting | Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating income | ' | -6.9 | 12.5 | 0.7 | 15.5 | 18.5 | 2.2 | -19.3 | ' | 17 | 27.6 | ||
Net income (loss) attributable to UGI Corporation | ' | -4.1 | 7.3 | 0.4 | 9.1 | 10.8 | 1.3 | -11.3 | ' | 10 | 16.2 | ||
Earnings (loss) per share attributable to UGI stockholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Diluted (in dollars per share) | ' | ($0.04) | $0.06 | $0 | $0.08 | $0.10 | $0.01 | ($0.10) | ' | $0.09 | $0.14 | ||
Partnership customer credits | Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating income | ' | 0 | 7 | -2.8 | -1.4 | 3.2 | -0.4 | -3.2 | ' | -1.8 | 0.1 | ||
Net income (loss) attributable to UGI Corporation | ' | 0 | 1.1 | -0.4 | -0.2 | 0.5 | -0.1 | -0.8 | ' | -0.6 | 0 | ||
Earnings (loss) per share attributable to UGI stockholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Diluted (in dollars per share) | ' | $0 | $0.01 | $0 | $0 | $0 | $0 | ($0.01) | ' | $0 | $0 | ||
Other | Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Operating income | ' | -4.7 | 2 | 0.2 | -0.5 | 0.7 | 2.4 | -0.4 | ' | 2.1 | -1.3 | ||
Net income (loss) attributable to UGI Corporation | ' | ($1.50) | $0.40 | ($0.10) | ($0.50) | $0.30 | $1.70 | $0 | ' | $1.40 | ($3.70) | ||
Earnings (loss) per share attributable to UGI stockholders: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Diluted (in dollars per share) | ' | ($0.01) | $0.01 | $0 | ($0.01) | $0 | $0.02 | $0 | ' | $0 | ($0.03) | ||
[1] | For Fiscal 2013, Fiscal 2012 and Fiscal 2011, there were approximately 88 shares, 81 shares and 3,700 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive. |
Quarterly_Data_Unaudited_Detai1
Quarterly Data (Unaudited) (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' |
Other-than-temporary impairment of an investment in a private equity partnership pre-tax loss | $6.30 | ' | ' | $6.30 | $0 | $0 |
Increase in net loss due to impairment loss | 3.7 | ' | ' | ' | ' | ' |
Increase in net loss per diluted share due to impairment loss | $0.03 | ' | ' | ' | ' | ' |
Increase in net income due to adjustment to foreign tax credit valuation allowance | ' | ' | 5.5 | ' | ' | ' |
Increase in earnings per share diluted due to adjustment to foreign tax credit valuation allowance | ' | ' | $0.05 | ' | ' | ' |
Decrease in net income due to loss on extinguishment of debt | ' | $2.20 | ' | ' | ' | ' |
Decrease in earning per diluted share due to loss on extinguishment of debt | ' | $0.02 | ' | ' | ' | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | $1,259 | $1,374.30 | $2,542.70 | $2,018.70 | $1,126 | $1,280.70 | $2,427.80 | $1,686.80 | $7,194.70 | $6,521.30 | $6,090.90 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 4,324.40 | 4,099.10 | 3,982.70 | |||||
Operating income | -12.3 | 41.5 | 507.7 | 294.2 | -15 | 3.2 | 385 | 165.4 | 831.1 | 538.6 | 642.4 | |||||
Loss from equity investees | -0.5 | ' | 0.1 | ' | -0.1 | -0.1 | ' | -0.1 | -0.4 | -0.3 | -0.9 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | 0 | 0.1 | -13.4 | 0 | ' | -13.3 | -38.1 | |||||
Interest expense | -59.5 | -59.2 | -60.1 | -61.5 | -61 | -60.9 | -62.5 | -36 | -240.3 | -220.4 | -138 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 590.4 | 304.6 | 465.4 | |||||
Net income attributable to UGI | -14.2 | 9.1 | 180.7 | 102.5 | -6.3 | 5.3 | 136.3 | 74.9 | 278.1 | 210.2 | 245.4 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 363.1 | 315 | 227.7 | |||||
Noncontrolling interests’ net income (loss) | -44.9 | -31.9 | 161 | 65.3 | -62.1 | -67.1 | 95.6 | 21.1 | 149.5 | -12.5 | 74.6 | |||||
Total assets | 10,008.80 | ' | ' | ' | 9,676.90 | ' | ' | ' | 10,008.80 | 9,676.90 | 6,660.90 | |||||
Bank loans | 227.9 | ' | ' | ' | 165.1 | ' | ' | ' | 227.9 | 165.1 | 138.7 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 489.1 | 343.2 | 355.6 | |||||
Investments in equity investees | 0.3 | ' | ' | ' | 0.3 | ' | ' | ' | 0.3 | 0.3 | 0.3 | |||||
Goodwill | 2,873.70 | ' | ' | ' | 2,818.30 | ' | ' | ' | 2,873.70 | 2,818.30 | 1,562.20 | |||||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -223.8 | [1] | -178.8 | [1] | -233 | [1] | ||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | -217.5 | [1] | -174 | [1] | -228.6 | [1] | ||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | 0 | 0 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | 0 | 0 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | 0 | 0 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Total assets | -100.3 | ' | ' | ' | -104.1 | ' | ' | ' | -100.3 | -104.1 | -93.3 | |||||
Bank loans | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -1.1 | 0 | 0 | |||||
Investments in equity investees | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
AmeriGas Propane [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,168.80 | 2,921.50 | 2,538.20 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,657.20 | 1,722.40 | 1,605.40 | |||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 394.4 | 168.7 | 241.6 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -13.3 | -38.1 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -166.6 | -141.5 | -63.5 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 227.8 | 13.9 | 140 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 47.5 | 15.4 | 39.5 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 205.9 | 168.1 | 94.5 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 149.6 | -12.7 | 74.3 | |||||
Partnership EBITDA (a) | ' | ' | ' | ' | ' | ' | ' | ' | 596.5 | [2] | 322.1 | [2] | 295.6 | [2] | ||
Total assets | 4,429.30 | ' | ' | ' | 4,533.80 | ' | ' | ' | 4,429.30 | 4,533.80 | 1,798 | |||||
Bank loans | 116.9 | ' | ' | ' | 49.9 | ' | ' | ' | 116.9 | 49.9 | 95.5 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 111.1 | 103.1 | 77.2 | |||||
Investments in equity investees | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Goodwill | 1,941 | ' | ' | ' | 1,919.20 | ' | ' | ' | 1,941 | 1,919.20 | 696.3 | |||||
Gas Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 839 | 785.4 | 1,026.40 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 407.2 | 402.5 | 610.6 | |||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 196.5 | 174.1 | 199.6 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -37.4 | -40.1 | -40.4 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 159.1 | 134 | 159.2 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 94.3 | 81.6 | 99.3 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 51.7 | 49 | 48.4 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Total assets | 2,069 | ' | ' | ' | 2,045.50 | ' | ' | ' | 2,069 | 2,045.50 | 2,028.70 | |||||
Bank loans | 17.5 | ' | ' | ' | 9.2 | ' | ' | ' | 17.5 | 9.2 | 0 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 144.4 | 109 | 91.3 | |||||
Investments in equity investees | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Goodwill | 182.1 | ' | ' | ' | 182.1 | ' | ' | ' | 182.1 | 182.1 | 182.1 | |||||
Energy Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 969.4 | 816.4 | 1,023.80 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 836.9 | 701.9 | 904.5 | |||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 82.5 | 70.8 | 81.9 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -3.2 | -4.8 | -2 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 79.3 | 66 | 79.9 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 46.3 | 38.7 | 47.1 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 7.6 | 3.7 | 2.4 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Total assets | 501.2 | ' | ' | ' | 368.5 | ' | ' | ' | 501.2 | 368.5 | 338.2 | |||||
Bank loans | 87 | ' | ' | ' | 85 | ' | ' | ' | 87 | 85 | 24.3 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 133.8 | 36 | 63.1 | |||||
Investments in equity investees | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Goodwill | 2.8 | ' | ' | ' | 2.8 | ' | ' | ' | 2.8 | 2.8 | 2.8 | |||||
Electric Generation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 71.4 | 43.9 | 48.6 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 39.9 | 28 | 30.4 | |||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 7.5 | -6.5 | -1.1 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -0.7 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 7.5 | -6.5 | -1.8 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 6.2 | -1 | 0.9 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 10 | 9 | 5.6 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Total assets | 269.7 | ' | ' | ' | 258.2 | ' | ' | ' | 269.7 | 258.2 | 242.5 | |||||
Bank loans | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 22.6 | 24.4 | 49.7 | |||||
Investments in equity investees | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Antargaz [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,322.60 | 1,121.40 | 1,050.60 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 845 | 685.5 | 649.8 | |||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 111.4 | 88.3 | 89.2 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | -0.3 | -0.9 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -25.3 | -26.3 | -25.5 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 85.7 | 61.7 | 62.8 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 57.2 | 51.4 | 44.2 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 57.6 | 57.1 | 52.1 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 0.2 | 0.3 | |||||
Total assets | 1,784.40 | ' | ' | ' | 1,686.50 | ' | ' | ' | 1,784.40 | 1,686.50 | 1,636.60 | |||||
Bank loans | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 53.4 | 47.3 | 48.9 | |||||
Investments in equity investees | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | |||||
Goodwill | 643.7 | ' | ' | ' | 612 | ' | ' | ' | 643.7 | 612 | 591.8 | |||||
Flaga & Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 856.6 | 824.7 | 438.1 | |||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 653.4 | 640.3 | 321 | |||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 35.6 | 23.6 | -3.1 | |||||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -5.1 | -4.6 | -2.7 | |||||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 30.5 | 19 | -5.8 | |||||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 25.5 | 13.8 | -3.2 | |||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 24.1 | 22.1 | 18.5 | |||||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0 | 0 | |||||
Total assets | 667.1 | ' | ' | ' | 531.8 | ' | ' | ' | 667.1 | 531.8 | 428.8 | |||||
Bank loans | 6.5 | ' | ' | ' | 21 | ' | ' | ' | 6.5 | 21 | 18.9 | |||||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 17.4 | 16.9 | 16.5 | |||||
Investments in equity investees | 0.3 | ' | ' | ' | 0.3 | ' | ' | ' | 0.3 | 0.3 | 0.3 | |||||
Goodwill | 97.1 | ' | ' | ' | 95.2 | ' | ' | ' | 97.1 | 95.2 | 82.2 | |||||
Corporate & Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 190.7 | [3] | 186.8 | [3] | 198.2 | [3] | ||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 102.3 | [3] | 92.5 | [3] | 89.6 | [3] | ||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 4.3 | [3] | 19.6 | [3] | 34.3 | [3] | ||
Loss from equity investees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [3] | 0 | 0 | ||||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | |||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -2.7 | [3] | -3.1 | [3] | -3.2 | [3] | ||
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | [3] | 16.5 | [3] | 31.1 | [3] | ||
Net income attributable to UGI | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | [3] | 10.3 | [3] | 17.6 | [3] | ||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6.2 | [3] | 6 | [3] | 6.2 | [3] | ||
Noncontrolling interests’ net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | [3] | ||||
Total assets | 388.4 | [3] | ' | ' | ' | 356.7 | [3] | ' | ' | ' | 388.4 | [3] | 356.7 | [3] | 281.4 | [3] |
Bank loans | 0 | ' | ' | ' | 0 | [3] | ' | ' | ' | 0 | 0 | [3] | 0 | [3] | ||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 7.5 | [3] | 6.5 | [3] | 8.9 | [3] | ||
Investments in equity investees | 0 | ' | ' | ' | 0 | [3] | ' | ' | ' | 0 | 0 | [3] | 0 | |||
Goodwill | $7 | [3] | ' | ' | ' | $7 | [3] | ' | ' | ' | $7 | [3] | $7 | [3] | $7 | [3] |
[1] | epresents the elimination of intersegment transactions principally among Midstream & Marketing, Gas Utility and AmeriGas Propane. | |||||||||||||||
[2] | The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:Year ended September 30, 2013 2012 2011Partnership EBITDA $596.5 $322.1 $295.6Depreciation and amortization (205.9) (168.1) (94.5)Loss on extinguishments of debt — 13.3 38.1Noncontrolling interests (i) 3.8 1.4 2.4Operating income $394.4 $168.7 $241.6(i)Principally represents the General Partner’s 1.01% interest in AmeriGas OLP. | |||||||||||||||
[3] | Corporate & Other results principally comprise (1) Electric Utility, (2) Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVACâ€), (3) changes in the fair values of Midstream & Marketing’s unsettled commodity derivative instruments and gains and losses on settled commodity derivative instruments not associated with current period transactions, (4) net expenses of UGI’s captive general liability insurance company, and (5) UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC, and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation. |
Segment_Information_Details_1
Segment Information (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Reconciliation of partnership EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ($363.10) | ($315) | ($227.70) | |||
Loss on extinguishments of debt | ' | ' | ' | ' | 0 | -0.1 | 13.4 | 0 | ' | 13.3 | 38.1 | |||
Operating income | -12.3 | 41.5 | 507.7 | 294.2 | -15 | 3.2 | 385 | 165.4 | 831.1 | 538.6 | 642.4 | |||
AmeriGas Propane [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reconciliation of partnership EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Partnership EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 596.5 | [1] | 322.1 | [1] | 295.6 | [1] |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -205.9 | -168.1 | -94.5 | |||
Loss on extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.3 | 38.1 | |||
Noncontrolling interests (i) | ' | ' | ' | ' | ' | ' | ' | ' | 3.8 | [2] | 1.4 | [2] | 2.4 | [2] |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | $394.40 | $168.70 | $241.60 | |||
[1] | The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:Year ended September 30, 2013 2012 2011Partnership EBITDA $596.5 $322.1 $295.6Depreciation and amortization (205.9) (168.1) (94.5)Loss on extinguishments of debt — 13.3 38.1Noncontrolling interests (i) 3.8 1.4 2.4Operating income $394.4 $168.7 $241.6(i)Principally represents the General Partner’s 1.01% interest in AmeriGas OLP. | |||||||||||||
[2] | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP. |
Segment_Information_Details_Te
Segment Information (Details Textual) | 12 Months Ended |
Sep. 30, 2013 | |
States | |
Reportable_Segments | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 6 |
Number of states to which product sale with propane revenue | 50 |
General Partner's interest in AmeriGas OLP | 1.01% |
Condensed_Financial_Informatio1
Condensed Financial Information of Registrant (Parent Company) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
In Millions, except Share data, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | $389.30 | $319.90 | $238.50 | $260.70 |
Deferred income taxes | 10.6 | 29.8 | ' | ' |
Total current assets | 1,627.30 | 1,470.40 | ' | ' |
Other assets | 419.7 | 495.6 | ' | ' |
Total assets | 10,008.80 | 9,676.90 | 6,660.90 | ' |
Current liabilities | ' | ' | ' | ' |
Derivative financial instruments | 30 | 100.9 | ' | ' |
Total current liabilities | 1,424.90 | 1,482.30 | ' | ' |
Commitments and contingencies (Note 1) | ' | ' | ' | ' |
Common stockholders’ equity: | ' | ' | ' | ' |
UGI Common Stock, without par value (authorized - 300,000,000 shares; issued - 115,783,794 and 115,624,594 shares, respectively) | 1,208.10 | 1,157.70 | ' | ' |
Retained earnings | 1,308.30 | 1,156 | ' | ' |
Accumulated other comprehensive income (loss) | 8.4 | -55.2 | ' | ' |
Treasury stock, at cost | -32.3 | -28.7 | ' | ' |
Total UGI Corporation stockholders’ equity | 2,492.50 | 2,229.80 | ' | ' |
Total liabilities and equity | 10,008.80 | 9,676.90 | ' | ' |
Condensed financial information of registrant (Textual) [Abstract] | ' | ' | ' | ' |
UGI Common Stock, without par value (in dollars per share) | $0 | $0 | ' | ' |
UGI Common Stock, without par value authorized (in shares) | 300,000,000 | 300,000,000 | ' | ' |
UGI Common Stock, without par value, issued (in shares) | 115,783,794 | 115,624,594 | 115,507,094 | 115,400,294 |
Parent Company [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 0.9 | 1.9 | 0.4 | 1 |
Accounts and notes receivable | 2.9 | 4 | ' | ' |
Deferred income taxes | 0.4 | 0.4 | ' | ' |
Prepaid expenses and other current assets | 0.3 | 0.3 | ' | ' |
Total current assets | 4.5 | 6.6 | ' | ' |
Investments in subsidiaries | 2,488.70 | 2,241.10 | ' | ' |
Other assets | 49.9 | 28.3 | ' | ' |
Total assets | 2,543.10 | 2,276 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts and notes payable | 11 | 11.1 | ' | ' |
Derivative financial instruments | 0 | 0 | ' | ' |
Accrued liabilities | 3.9 | 2.4 | ' | ' |
Total current liabilities | 14.9 | 13.5 | ' | ' |
Noncurrent liabilities | 35.7 | 32.7 | ' | ' |
Commitments and contingencies (Note 1) | ' | ' | ' | ' |
Common stockholders’ equity: | ' | ' | ' | ' |
UGI Common Stock, without par value (authorized - 300,000,000 shares; issued - 115,783,794 and 115,624,594 shares, respectively) | 1,208.10 | 1,157.70 | ' | ' |
Retained earnings | 1,308.30 | 1,156 | ' | ' |
Accumulated other comprehensive income (loss) | 8.4 | -55.2 | ' | ' |
Treasury stock, at cost | -32.3 | -28.7 | ' | ' |
Total UGI Corporation stockholders’ equity | 2,492.50 | 2,229.80 | ' | ' |
Total liabilities and equity | $2,543.10 | $2,276 | ' | ' |
Condensed financial information of registrant (Textual) [Abstract] | ' | ' | ' | ' |
UGI Common Stock, without par value (in dollars per share) | $0 | $0 | ' | ' |
UGI Common Stock, without par value authorized (in shares) | 300,000,000 | 300,000,000 | ' | ' |
UGI Common Stock, without par value, issued (in shares) | 115,783,794 | 115,624,594 | ' | ' |
Condensed_Financial_Informatio2
Condensed Financial Information of Registrant (Parent Company) (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, except Share data in Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | $1,259 | $1,374.30 | $2,542.70 | $2,018.70 | $1,126 | $1,280.70 | $2,427.80 | $1,686.80 | $7,194.70 | $6,521.30 | $6,090.90 | |||
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating and administrative expenses | 396.1 | 407.5 | 461.5 | 426.9 | 400.1 | 404.5 | 443.8 | 342.7 | 1,692 | 1,591.10 | 1,267 | |||
Other income, net | -8.3 | -7 | -7.5 | -10 | -10.8 | -8.1 | -12.8 | -8.1 | -32.8 | -39.8 | -45.5 | |||
Total costs and expenses | 1,271.30 | 1,332.80 | 2,035 | 1,724.50 | 1,141 | 1,277.50 | 2,042.80 | 1,521.40 | 6,363.60 | 5,982.70 | 5,448.50 | |||
Operating (loss) income | -12.3 | 41.5 | 507.7 | 294.2 | -15 | 3.2 | 385 | 165.4 | 831.1 | 538.6 | 642.4 | |||
Income tax expense (benefit) | -13.2 | 5.1 | 106 | 64.9 | -7.7 | 4.1 | 77.2 | 33.3 | 162.8 | 106.9 | 145.4 | |||
Equity in income of unconsolidated subsidiaries | -0.5 | ' | 0.1 | ' | -0.1 | -0.1 | ' | -0.1 | -0.4 | -0.3 | -0.9 | |||
Net income attributable to UGI Corporation | -14.2 | 9.1 | 180.7 | 102.5 | -6.3 | 5.3 | 136.3 | 74.9 | 278.1 | 210.2 | 245.4 | |||
Earnings per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Basic (in dollars per share) | ($0.12) | $0.08 | $1.59 | $0.91 | ($0.06) | $0.05 | $1.21 | $0.67 | $2.44 | $1.87 | $2.20 | |||
Diluted (in dollars per share) | ($0.12) | $0.08 | $1.57 | $0.90 | ($0.06) | $0.05 | $1.20 | $0.66 | $2.41 | $1.85 | $2.17 | |||
Average common shares outstanding (thousands): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Basic (in shares) | 114,598 | 114,240 | 113,709 | 113,136 | 112,868 | 112,726 | 112,510 | 112,240 | 113,923 | [1] | 112,581 | [1] | 111,674 | |
Diluted (in shares) | 114,598 | 116,196 | 115,199 | 114,490 | 112,868 | 113,504 | 113,239 | 113,152 | 115,521 | [1] | 113,432 | [1] | 112,944 | |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Costs and Expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 36.9 | 27.8 | 31 | |||
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | -36.7 | [2] | -28.1 | [2] | -24.8 | [2] |
Total costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | -0.3 | 6.2 | |||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 0.3 | -6.2 | |||
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0.2 | 0.2 | 0.1 | |||
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0.5 | -6.1 | |||
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 3.1 | 0.3 | -1.1 | |||
(Loss) income before equity in income of unconsolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 | 0.2 | -5 | |||
Equity in income of unconsolidated subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 281.2 | 210 | 250.4 | |||
Net income attributable to UGI Corporation | ' | ' | ' | ' | ' | ' | ' | ' | $278.10 | $210.20 | $245.40 | |||
Earnings per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Basic (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $2.44 | $1.87 | $2.20 | |||
Diluted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $2.41 | $1.85 | $2.17 | |||
Average common shares outstanding (thousands): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Basic (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 113,923 | 112,581 | 111,674 | |||
Diluted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 115,521 | 113,432 | 112,944 | |||
[1] | For Fiscal 2013, Fiscal 2012 and Fiscal 2011, there were approximately 88 shares, 81 shares and 3,700 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive. | |||||||||||||
[2] | UGI provides certain financial and administrative services to certain of its subsidiaries. UGI bills these subsidiaries monthly for all direct expenses incurred by UGI on behalf of its subsidiaries as well as allocated shares of indirect corporate expense incurred or paid with respect to services provided by UGI. The allocation of indirect UGI corporate expenses to certain of its subsidiaries utilizes a weighted, three-component formula comprising revenues, operating expenses, and net assets employed and considers the relative percentage of such items for each subsidiary to the total of such items for all UGI operating subsidiaries for which general and administrative services are provided. Management believes that this allocation method is reasonable and equitable to its subsidiaries. These billed expenses are classified as “Other income, net†in the Statements of Income above. |
Condensed_Financial_Informatio3
Condensed Financial Information of Registrant (Parent Company) (Details 2) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | |||
NET CASH PROVIDED BY OPERATING ACTIVITIES | $801.50 | $707.70 | $554.70 | |||
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | |||
Net cash used by investing activities | -553.3 | -1,904.50 | -415.4 | |||
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | |||
Dividends on UGI Common Stock | -125.8 | -119.1 | -113.8 | |||
Issuance of Common Stock | 36.4 | 23.2 | 27.3 | |||
Net cash (used) provided by financing activities | -186.1 | 1,278.50 | -152.1 | |||
Cash and cash equivalents increase (decrease) | 69.4 | 81.4 | -22.2 | |||
Cash and cash equivalents: | ' | ' | ' | |||
End of year | 389.3 | 319.9 | 238.5 | |||
Beginning of year | 319.9 | 238.5 | 260.7 | |||
Increase (decrease) | 69.4 | 81.4 | -22.2 | |||
Parent Company [Member] | ' | ' | ' | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | |||
NET CASH PROVIDED BY OPERATING ACTIVITIES | 139.4 | [1] | 158.3 | [1] | 201.6 | [1] |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | |||
Net investments in unconsolidated subsidiaries | -59.1 | -54.4 | -119.4 | |||
Net cash used by investing activities | -59.1 | -54.4 | -119.4 | |||
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | |||
Dividends on UGI Common Stock | -125.8 | -119.1 | -113.8 | |||
Issuance of Common Stock | 44.5 | 16.7 | 31 | |||
Net cash (used) provided by financing activities | -81.3 | -102.4 | -82.8 | |||
Cash and cash equivalents increase (decrease) | -1 | 1.5 | -0.6 | |||
Cash and cash equivalents: | ' | ' | ' | |||
End of year | 0.9 | 1.9 | 0.4 | |||
Beginning of year | 1.9 | 0.4 | 1 | |||
Increase (decrease) | ($1) | $1.50 | ($0.60) | |||
[1] | Includes dividends received from unconsolidated subsidiaries of $155.2, $156.0 and $188.9, for the years ended September 30, 2013, 2012 and 2011, respectively. |
Condensed_Financial_Informatio4
Condensed Financial Information of Registrant (Parent Company) (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Guarantee Obligations [Line Items] | ' | ' | ' |
Dividend received from unconsolidated subsidiaries | $155.20 | $156 | $188.90 |
Parent Company [Member] | ' | ' | ' |
Guarantee Obligations [Line Items] | ' | ' | ' |
Surety bonds indemnified | 52.5 | ' | ' |
Maximum amount authorized to guarantee obligations to suppliers and customers | 425 | ' | ' |
Current carrying value | 368.6 | ' | ' |
Flaga [Member] | ' | ' | ' |
Guarantee Obligations [Line Items] | ' | ' | ' |
Amount of floating to fixed rate interest rate swaps at Flaga | $4.30 | ' | ' |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Valuation and Qualifying Account | ' | ' | ' | |||
Beginning Balance | $36.10 | $36.80 | $34.60 | |||
Charged (credited) to costs and expenses | 30.2 | 26.5 | 20 | |||
Other | -26.8 | [1] | -27.2 | [1] | -17.8 | [1] |
Ending Balance | 39.5 | 36.1 | 36.8 | |||
Deferred tax assets valuation allowance [Member] | ' | ' | ' | |||
Valuation and Qualifying Account | ' | ' | ' | |||
Beginning Balance | 77 | 78.2 | 74.7 | |||
Charged (credited) to costs and expenses | -5.7 | -4 | 3.5 | |||
Other Acquisition | ' | 2.8 | ' | |||
Other Recoveries | 26.3 | [2] | ' | 0 | ||
Ending Balance | $97.60 | $77 | $78.20 | |||
[1] | Uncollectible accounts written off, net of recoveries. | |||||
[2] | Acquisition. |