UGI (UGI) 10-K 26 Nov 24 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Sep. 30, 2024	Nov. 15, 2024	Mar. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2024
Current Fiscal Year End Date	--09-30
Document Transition Report	false
Entity File Number	1-11071
Entity Registrant Name	UGI CORP
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-2668356
Entity Address, Address Line One	500 North Gulph Road
Entity Address, City or Town	King of Prussia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19406
City Area Code	610
Local Phone Number	337-1000
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	UGI
Security Exchange Name	NYSE
Entity Well-Known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 5,134,363,782
Entity Common Stock, Shares Outstanding		214,698,169
Documents Incorporated by Reference	Portions of the Proxy Statement for the Annual Meeting of Shareholders to be held on January 31, 2025 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000884614
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Sep. 30, 2024
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Philadelphia, Pennsylvania
Auditor Firm ID	42

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Current assets
Cash and cash equivalents	$ 213	$ 241
Restricted cash	15	99
Accounts receivable (less allowances for doubtful accounts of $68 and $71, respectively)	709	878
Accrued utility revenues	36	33
Income taxes receivable	56	36
Inventories	411	433
Derivative instruments	29	75
Prepaid expenses	113	123
Other current assets	69	127
Total current assets	1,651	2,045
Property, plant and equipment
Non-utility	7,153	7,046
Utility	6,520	6,082
Total property, plant and equipment	13,673	13,128
Accumulated depreciation	(4,910)	(4,581)
Net property, plant, and equipment	8,763	8,547
Goodwill	2,871	3,027
Intangible assets, net	391	443
Utility regulatory assets	301	302
Derivative instruments	9	49
Other assets	1,112	988
Total assets	15,098	15,401
Current liabilities
Current maturities of long-term debt	235	57
Short-term borrowings	465	649
Accounts payable	544	613
Employee compensation and benefits accrued	196	142
Deposits and advances	199	232
Derivative instruments	28	60
Other current liabilities	393	521
Total current liabilities	2,060	2,274
Noncurrent liabilities
Long-term debt	6,443	6,543
Deferred income taxes	1,008	928
Derivative instruments	31	27
Other noncurrent liabilities	1,202	1,235
Total liabilities	10,744	11,007
Commitments and contingencies (Note 16)
UGI Corporation stockholders’ equity:
Preferred Stock, without par value (authorized – 5,000,000 shares; issued – 0 and 220,000 Series A shares, respectively)	0	167
UGI Common Stock, without par value (authorized – 450,000,000 shares; issued – 216,124,332 and 210,906,052 shares, respectively)	1,676	1,503
Retained earnings	2,978	3,027
Accumulated other comprehensive loss	(253)	(256)
Treasury stock, at cost	(56)	(55)
Total UGI Corporation stockholders’ equity	4,345	4,386
Noncontrolling interests	9	8
Total equity	4,354	4,394
Total liabilities and equity	$ 15,098	$ 15,401

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 68	$ 71
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	220,000
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	216,124,332	210,906,052

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 7,210	$ 8,928	$ 10,106
Costs and expenses:
Cost of sales (excluding depreciation and amortization shown below)	3,529	6,937	5,973
Operating and administrative expenses	2,132	2,158	2,028
Depreciation and amortization	551	532	518
Impairment of goodwill	195	656	0
Loss on disposals of businesses	95	221	0
Other operating income, net	(62)	(132)	(79)
Total costs and expenses	6,440	10,372	8,440
Operating income (loss)	770	(1,444)	1,666
(Loss) income from equity investees	(19)	2	(14)
Loss on extinguishments of debt	(9)	(9)	(11)
Other non-operating (expense) income, net	(8)	(7)	75
Interest expense	(394)	(379)	(329)
Income (loss) before income taxes	340	(1,837)	1,387
Income tax (expense) benefit	(71)	335	(313)
Net income (loss) including noncontrolling interests	269	(1,502)	1,074
Deduct net income attributable to noncontrolling interests	0	0	(1)
Net income (loss) attributable to UGI Corporation	$ 269	$ (1,502)	$ 1,073
Earnings per common share attributable to UGI Corporation stockholders:
Basic (in dollars per share)	$ 1.27	$ (7.16)	$ 5.11
Diluted (in dollars per share)	$ 1.25	$ (7.16)	$ 4.97
Weighted-average common shares outstanding:
Basic (in shares)	211,309	209,806	209,940
Diluted (in shares)	215,271	209,806	215,821

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss) including noncontrolling interests	$ 269	$ (1,502)	$ 1,074
Net (losses) gains on derivative instruments (net of tax of $5, $(9), and $(27), respectively)	(14)	16	64
Reclassifications of net (gains) losses on derivative instruments (net of tax of $14, $13, and $(1), respectively)	(35)	(27)	6
Foreign currency translation adjustments (net of tax of $14, $21, and $(55), respectively)	12	68	(193)
Foreign currency gains (losses) on long-term intra-company transactions	47	64	(148)
Benefit plans, principally actuarial (losses) gains (net of tax of $2, $(2), and $(10), respectively)	(7)	5	28
Reclassifications of benefit plans actuarial (gains) losses and net prior service cost (benefit) (net of tax of $0, $1, and $(1), respectively)	0	(2)	3
Other comprehensive income (loss)	3	124	(240)
Comprehensive income (loss) including noncontrolling interests	272	(1,378)	834
Deduct comprehensive income attributable to noncontrolling interests	0	0	(1)
Comprehensive income (loss) attributable to UGI Corporation	$ 272	$ (1,378)	$ 833

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net (losses) gains on derivative instruments, net of tax	$ 5	$ (9)	$ (27)
Reclassifications of net (gains) losses on derivative instruments, net of tax	14	13	(1)
Foreign currency translation adjustments, net of tax	14	21	(55)
Benefit plans, principally actuarial (losses) gains, net of tax	2	(2)	(10)
Reclassifications of benefit plans actuarial (gains) losses and net prior service cost (benefit), net of tax	$ 0	$ 1	$ (1)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) including noncontrolling interests	$ 269	$ (1,502)	$ 1,074
Adjustments to reconcile net income (loss) including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization	551	532	518
Deferred income tax expense (benefit), net	52	(420)	221
Provision for uncollectible accounts	61	69	61
Changes in unrealized gains and losses on derivative instruments	10	1,682	(648)
Loss on disposals of businesses	95	221	0
Impairment of assets	7	19	5
Impairment of goodwill	195	656	0
Equity-based compensation expense	8	17	15
Loss on extinguishments of debt	9	9	11
Loss (income) from equity investees	19	(2)	14
Settlement of Energy Services interest rate swap, net of amortization	(19)	19	0
Gain on sales of fixed assets	(22)	(61)	(33)
Other, net	(20)	19	31
Net change in:
Accounts receivable and accrued utility revenues	126	212	(431)
Income taxes receivable	(21)	91	0
Inventories	32	247	(224)
Utility deferred fuel costs, net of changes in unsettled derivatives	(7)	64	(24)
Accounts payable	(99)	(291)	85
Derivative instruments collateral paid	(9)	(420)	(9)
Other current assets	6	(36)	54
Other current liabilities	(61)	(18)	(4)
Net cash provided by operating activities	1,182	1,107	716
CASH FLOWS FROM INVESTING ACTIVITIES
Expenditures for property, plant and equipment	(796)	(974)	(804)
Acquisitions of businesses and assets, net of cash and restricted cash acquired	0	(9)	(242)
Investments in equity method investees	(92)	(146)	(47)
Settlements of net investment hedges	3	22	26
Net proceeds from the disposition of businesses and assets	93	30	44
Other, net	0	0	11
Net cash used by investing activities	(792)	(1,077)	(1,012)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends on UGI Common Stock	(318)	(308)	(296)
Issuances of debt, net of issuance costs	1,321	1,930	1,257
Repayments of debt and finance leases, including redemption premiums	(1,303)	(2,031)	(978)
Receivables Facility net (repayments) borrowings	(46)	46	0
(Decrease) increase in short-term borrowings	(148)	221	1
Issuances of UGI Common Stock	0	12	19
Repurchases of UGI Common Stock	0	(22)	(38)
Payments on Purchase Contracts	(12)	(16)	(16)
Net cash used by financing activities	(506)	(168)	(51)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	4	9	(61)
Cash, cash equivalents and restricted cash decrease	(112)	(129)	(408)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash, cash equivalents and restricted cash at end of year	228	340	469
Cash, cash equivalents and restricted cash at beginning of year	340	469	877
Cash, cash equivalents and restricted cash decrease	(112)	(129)	(408)
Cash paid (received) for:
Interest	403	332	320
Income taxes	$ 80	$ (17)	$ 61

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Total	Total UGI Corporation stockholders’ equity	Preferred stock, without par value	Preferred stock, without par value Cumulative effect of change in accounting - ASU 2020-06	Common stock, without par value	Common stock, without par value Cumulative effect of change in accounting - ASU 2020-06	Retained earnings	Retained earnings Cumulative effect of change in accounting - ASU 2020-06	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interests
Balance, beginning of year at Sep. 30, 2021			$ 213,000,000		$ 1,394,000,000		$ 4,081,000,000		$ (140,000,000)	$ (26,000,000)	$ 9,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock issued in connection with employee and director plans, net of tax withheld					19,000,000
Equity-based compensation expense					17,000,000
Net income (loss) attributable to UGI Corporation	$ 1,073,000,000						1,073,000,000
Cash dividends on common stock ($1.50, $1.47, and $1.41 per share, respectively)							(296,000,000)
Losses on treasury stock transactions in connection with employee and director plans							(17,000,000)
Net (losses) gains on derivative instruments	64,000,000								64,000,000
Reclassification of net (gains) losses on derivative instruments	6,000,000								6,000,000
Benefit plans, principally actuarial (losses) gains	28,000,000								28,000,000
Reclassification of benefit plans net actuarial (gains) losses and net prior service costs (benefits)	3,000,000								3,000,000
Foreign currency gains (losses) on long-term intra-company transactions	(148,000,000)								(148,000,000)
Foreign currency translation adjustments	(193,000,000)								(193,000,000)
Common Stock issued in connection with employee and director plans, net of tax withheld										34,000,000
Repurchases of common stock	0									(38,000,000)
Reacquired common stock – employee and director plans										(10,000,000)
Noncontrolling interests’ net income	1,074,000,000										1,000,000
Other			(51,000,000)		53,000,000						(2,000,000)
Balance, ending of year at Sep. 30, 2022	6,074,000,000	$ 6,066,000,000	162,000,000	$ 5,000,000	1,483,000,000	$ (6,000,000)	4,841,000,000	$ 1,000,000	(380,000,000)	(40,000,000)	8,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock issued in connection with employee and director plans, net of tax withheld					8,000,000
Equity-based compensation expense					18,000,000
Net income (loss) attributable to UGI Corporation	(1,502,000,000)						(1,502,000,000)
Cash dividends on common stock ($1.50, $1.47, and $1.41 per share, respectively)							(308,000,000)
Losses on treasury stock transactions in connection with employee and director plans							(5,000,000)
Net (losses) gains on derivative instruments	16,000,000								16,000,000
Reclassification of net (gains) losses on derivative instruments	(27,000,000)								(27,000,000)
Benefit plans, principally actuarial (losses) gains	5,000,000								5,000,000
Reclassification of benefit plans net actuarial (gains) losses and net prior service costs (benefits)	(2,000,000)								(2,000,000)
Foreign currency gains (losses) on long-term intra-company transactions	64,000,000								64,000,000
Foreign currency translation adjustments	68,000,000								68,000,000
Common Stock issued in connection with employee and director plans, net of tax withheld										7,000,000
Repurchases of common stock										(22,000,000)
Noncontrolling interests’ net income	(1,502,000,000)
Balance, ending of year at Sep. 30, 2023	4,394,000,000	4,386,000,000	167,000,000		1,503,000,000		3,027,000,000		(256,000,000)	(55,000,000)	8,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation expense					7,000,000
Net income (loss) attributable to UGI Corporation	269,000,000						269,000,000
Cash dividends on common stock ($1.50, $1.47, and $1.41 per share, respectively)							(318,000,000)
Net (losses) gains on derivative instruments	(14,000,000)								(14,000,000)
Reclassification of net (gains) losses on derivative instruments	(35,000,000)								(35,000,000)
Benefit plans, principally actuarial (losses) gains	(7,000,000)								(7,000,000)
Reclassification of benefit plans net actuarial (gains) losses and net prior service costs (benefits)	0
Foreign currency gains (losses) on long-term intra-company transactions	47,000,000								12,000,000
Foreign currency translation adjustments	12,000,000								47,000,000
Reacquired common stock – employee and director plans										(1,000,000)
Noncontrolling interests’ net income	269,000,000
Settlement of Equity Units			$ (167,000,000)		166,000,000
Other											1,000,000
Balance, ending of year at Sep. 30, 2024	$ 4,354,000,000	$ 4,345,000,000			$ 1,676,000,000		$ 2,978,000,000		$ (253,000,000)	$ (56,000,000)	$ 9,000,000

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible List]			Accounting Standards Update 2020-06 [Member]
Cash dividends on common stock (in dollars per share)	$ 1.50	$ 1.47	$ 1.41

Nature of Operations

Nature of Operations	12 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1 — Nature of Operations UGI is a holding company that, through subsidiaries and affiliates, distributes, stores, transports and markets energy products and related services in the U.S. and Europe. We own and operate (1) natural gas and electric distribution utilities; (2) energy marketing, midstream infrastructure, storage, natural gas gathering and processing, natural gas production, electricity generation and energy services businesses; and (3) retail propane and other LPG marketing and distribution businesses. Our Utilities segment includes UGI Utilities and Mountaineer. PA Gas Utility serves customers in eastern and central Pennsylvania and in portions of one Maryland county, and Mountaineer serves customers in West Virginia. Electric Utility serves customers in portions of Luzerne and Wyoming counties in northeastern Pennsylvania. PA Gas Utility is subject to regulation by the PAPUC and FERC and, with respect to its customers in Maryland, the MDPSC. Mountaineer is subject to regulation by the WVPSC and FERC. Electric Utility is subject to regulation by the PAPUC and FERC. Energy Services conducts, directly and through subsidiaries and affiliates, energy marketing, including RNG, midstream transmission, LNG storage, natural gas gathering and processing, natural gas and RNG production, electricity generation and energy services businesses primarily in the eastern region of the U.S., eastern Ohio, the panhandle of West Virginia and California. Energy Services and its subsidiaries’ storage, LNG and portions of its midstream transmission operations are subject to regulation by the FERC. Prior to its sale in September 2024, UGID owned electricity generation facilities principally located in Pennsylvania. See Note 5 for additional information on the disposition of UGID. UGI International, LLC, through its subsidiaries and affiliates, primarily conducts an LPG distribution business throughout much of Europe. The LPG business is conducted principally through our subsidiaries, UGI France, Flaga, AvantiGas, and UniverGas. As of the end of the first quarter of Fiscal 2024, UGI International had exited substantially all of its European energy marketing business which primarily marketed natural gas and electricity to customers through third-party distribution systems in France, Belgium, the Netherlands, and the United Kingdom. See Note 5 for additional information regarding the UGI International energy marketing business.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation Our consolidated financial statements are prepared in accordance with GAAP and the rules and regulations of the SEC. 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. Principles of Consolidation The consolidated financial statements include the accounts of UGI and its controlled subsidiary companies which are majority owned. We report outside ownership interests in other consolidated but less than 100%-owned subsidiaries, as noncontrolling interests. We eliminate intercompany accounts and transactions when we consolidate. We account for privately held equity securities of entities without readily determinable fair values in which we do not have control, but have significant influence over operating and financial policies, under the equity method. See Note 21 for additional information on our equity method investments. Investments in equity securities related to entities in which we do not have significant influence over operating and financial policies are generally initially valued at their cost less impairment (if any) and subsequently remeasured at fair value, as applicable, in accordance with the relevant provisions under GAAP. Effects of Regulation Certain of our subsidiaries account for the financial effects of regulation in accordance with ASC 980. In accordance with this guidance, incurred costs that would otherwise be charged to expense are capitalized and recorded as regulatory assets when it is probable that the incurred costs will be recovered through 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. Regulatory assets and liabilities are classified as current if, upon initial recognition, the entire amount related to that item will be recovered or refunded within a year of the balance sheet date. Generally, regulatory assets and regulatory liabilities are amortized into expense and income over the periods authorized by the respective regulatory body. For additional information regarding the effects of rate regulation on our utility operations, see Note 9. Fair Value Measurements The Company applies fair value measurements on a recurring and, as otherwise required under ASC 820, on a nonrecurring basis. Fair value 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 measurements performed on a recurring basis principally relate to derivative instruments and investments held in supplemental executive retirement plan grantor trusts. ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. 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. • 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 markets that are not active, 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. • Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. 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. We evaluate the need for credit adjustments to our derivative instrument fair values. These credit adjustments were not material to the fair values of our derivative instruments. Derivative Instruments Derivative instruments are reported on the Consolidated Balance Sheets at their fair values, unless the NPNS exception is elected. The accounting for changes in fair value depends upon the purpose of the derivative instrument, whether it is subject to regulatory ratemaking mechanisms or if it qualifies and is designated as a hedge for accounting purposes. Certain of our derivative instruments qualify and are designated as cash flow hedges. For cash flow hedges, changes in the fair values of the derivative instruments are recorded in AOCI, 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 occurrence of the forecasted transaction is determined to be no longer probable. Hedge accounting is also discontinued for derivatives that cease to be highly effective. We do not designate our commodity and certain foreign currency derivative instruments as hedges under GAAP. Changes in the fair values of these derivative instruments are reflected in net income. Gains and losses on substantially all of the commodity derivative instruments used by Utilities are included in regulatory assets or liabilities because it is probable such gains or losses will be recoverable from, or refundable to, customers. From time to time, we also enter into net investment hedges. Gains and losses on net investment hedges that relate to our foreign operations are included in the cumulative translation adjustment component in AOCI until such foreign net investment is substantially sold or liquidated. Cash flows from derivative instruments, other than certain net investment hedges, are included in cash flows from operating activities on the Consolidated Statements of Cash Flows. Cash flows from net investment hedges are included in cash flows from investing activities on the Consolidated Statements of Cash Flows. 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. Business Combination Purchase Price Allocations From time to time, the Company enters into material business combinations. The purchase price is allocated to the various assets acquired and liabilities assumed at their estimated fair value as of the acquisition date with the residual of the purchase price allocated to goodwill. Fair values of assets acquired and liabilities assumed are based upon available information. Estimating fair values is generally subject to significant judgment, estimates and assumptions especially with respect to intangible assets. The allocation of the purchase price may be modified up to one year after the acquisition date, under certain circumstances, as more information is obtained about the fair value of assets acquired and liabilities assumed. Foreign Currency Translation Balance sheets of international subsidiaries are translated into USD using the exchange rate at the balance sheet date. Income statements and equity investee results are translated into USD 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. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise with the impact of subsequent changes in such rates reflected in the income statement. The functional currency of a significant portion of our international operations is the euro. Revenue Recognition The Company recognizes revenue when control of promised goods or services is transferred to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Certain revenues such as revenue from leases, financial instruments and other revenues are not within the scope of ASC 606 because they are not from contracts with customers. Such revenues are accounted for in accordance with other GAAP. Revenue-related taxes collected on behalf of customers and remitted to taxing authorities, principally sales and use taxes, are not included in revenues. Gross receipts taxes at Midstream & Marketing, Mountaineer and Electric Utility are presented on a gross basis. The Company has elected to use the practical expedient to expense the costs to obtain contracts when incurred for contracts that have a term less than one year. The costs incurred to obtain contracts that have durations of longer than one year are not material. See Note 4 for additional information regarding the Company’s revenue from contracts with customers. Accounts Receivable Accounts receivable are reported on the Consolidated Balance Sheets at the gross outstanding amount adjusted for an allowance for doubtful accounts. Accounts receivable that are acquired are initially recorded at fair value on the date of acquisition. Provisions for uncollectible accounts are established based upon our collection experience, the assessment of the collectability of specific amounts and the Company’s best estimate of current expected credit losses. Accounts receivable are written off in the period in which the receivable is deemed uncollectible. 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 and amortization” on the Consolidated Statements of Income. Income Taxes AmeriGas Partners and AmeriGas OLP 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. AmeriGas OLP 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. Utilities records 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. Utilities also records 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 records 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 renewable natural gas property under the Inflation Reduction Act of 2022 are reflected in income taxes. We record interest on underpayments and overpayments of income taxes, and income tax penalties, in “Income tax (expense) benefit” on the Consolidated Statements of Income. Interest income or expense recognized was not material for all periods presented. 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 attributable to UGI Corporation include the effects of dilutive stock options, common stock awards and, prior to their June 2024 settlement, Equity Units. Shares used in computing basic and diluted earnings per share are as follows: (Thousands of shares) 2024 2023 2022 Weighted-average common shares outstanding for basic computation 211,309 209,806 209,940 Incremental shares issuable for stock options, common stock awards and Equity Units (a) (b) 3,962 — 5,881 Weighted-average common shares outstanding for diluted computation 215,271 209,806 215,821 (a) For Fiscal 2024 and Fiscal 2022, 8,619 and 8,138 shares, respectively, associated with outstanding stock option awards were excluded from the computation of diluted earnings per share because their effect was antidilutive. For Fiscal 2023, 6,132 of such shares have been excluded as such incremental shares would be antidilutive due to the net loss for the period. (b) The Equity Units were settled in June 2024. See Note 13 for additional information. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash on hand, cash in banks and highly liquid investments with maturities of three months or less when purchased. Restricted cash principally represents those cash balances in our commodity futures brokerage accounts that are restricted from withdrawal. The following table provides a reconciliation of the total cash, cash equivalents and restricted cash reported on the Consolidated Balance Sheets to the corresponding amounts reported on the Consolidated Statements of Cash Flows. 2024 2023 2022 Cash and cash equivalents $ 213 $ 241 $ 405 Restricted cash 15 99 64 Cash, cash equivalents and restricted cash $ 228 $ 340 $ 469 Inventories Our inventories are stated at the lower of cost or net realizable value. We determine cost using an average cost method for non-utility LPG and natural gas and utility inventories; specific identification for appliances; and the FIFO method for all other inventories. The Company accounts for renewable energy certificates as inventory, which generally represents costs incurred to generate a certificate for sale. The Company recognizes revenue from the sale of renewable energy certificates when control of the certificate is transferred to the buyer, and the cost of the certificate, if any, is then recorded within “Cost of sales” on the Consolidated Statements of Income. Property, Plant and Equipment and Related Depreciation We record property, plant and equipment at the lower of original cost or fair value, if impaired. Capitalized costs include labor, materials and other direct and indirect costs, and for certain operations subject to cost-of-service rate regulation, AFUDC. We also include in property, plant and equipment costs associated with computer software we develop or obtain for use in our businesses. The amounts assigned to property, plant and equipment of acquired businesses are based upon estimated fair value at date of acquisition. When we retire or otherwise dispose of non-utility plant and equipment, we eliminate the associated cost and accumulated depreciation and recognize any resulting gain or loss in "Other operating income, net" on the Consolidated Statements of Income. For property subject to cost of service rate regulation, upon retirement we charge the original cost to accumulated depreciation for financial accounting purposes. Costs incurred to retire UGI Utilities plant and equipment, net of salvage, are recorded in regulatory assets and amortized over five years, consistent with prior ratemaking treatment. We record depreciation expense on non-utility plant and equipment on a straight-line basis over estimated economic useful lives. We record depreciation expense for Utilities’ plant and equipment on a straight-line basis based upon the projected service lives of the various classes of its depreciable property. We classify amortization of computer software and related IT system installation costs included in property, plant and equipment as depreciation expense. No depreciation expense is included in cost of sales on the Consolidated Statements of Income. Goodwill and Intangible Assets Intangible Assets. We amortize intangible assets, primarily consisting of customer relationships, over their estimated useful lives unless we determine their lives to be indefinite. We test definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the associated carrying amounts may be impaired. Determining whether an impairment loss occurred requires comparing the carrying amount to the estimated fair value of the asset. Intangible assets with indefinite lives are not amortized but are tested for impairment annually (and more frequently if events or changes in circumstances between annual tests indicate that it is more likely than not that they are impaired) and written down to fair value, if impaired. See Note 12 for additional information related to intangible asset impairment recognized in Fiscal 2023. Goodwill. 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 it constitutes a business for which discrete financial information is available and regularly reviewed by segment management. Components are aggregated into a single reporting unit if they have similar economic characteristics. Each of our reporting units with goodwill is required to perform impairment tests annually or whenever events or circumstances indicate that the value of goodwill may be impaired. 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, we bypass the qualitative assessment and perform the quantitative assessment by comparing the fair values of the reporting units with their carrying amounts, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to such excess but not to exceed the total amount of the goodwill of the reporting unit. With respect to UGI International's Fiscal 2024 goodwill impairment test, the Company bypassed the qualitative assessment and performed a quantitative assessment. Such assessment used a weighting of income and market approaches to determine fair value. With respect to the income approach, management used a discounted cash flow (“DCF”) method, using unobservable inputs. The significant assumptions in our DCF model include projected EBITDA, and a discount rate (and estimates in the discount rate inputs). With respect to the market approach, management used recent transaction market multiples for similar companies. Based on our evaluation, we determined that UGI International’s fair value exceeded its carrying value by less than 30%. While the Company believes that its judgments used in the quantitative assessment of UGI International’s fair value are reasonable based upon currently available facts and circumstances, if UGI International were not able to achieve its anticipated results and/or if its discount rate were to increase, its fair value would be adversely affected, which may result in an impairment. There is $950 of goodwill in this reporting unit as of September 30, 2024. With respect to AmeriGas Propane Fiscal 2024 annual goodwill impairment test, the Company also bypassed the qualitative assessment and performed a quantitative assessment and determined that goodwill was impaired. In addition, during the third quarter of Fiscal 2023, the Company identified interim impairment indicators at its AmeriGas Propane reporting unit and, as such, performed an interim impairment test of its goodwill as of May 31, 2023. Based on such impairment tests, the Company recognized a non-cash pre-tax goodwill impairment charge of $195 and $656 in Fiscal 2024 and Fiscal 2023, respectively. See Note 12 for additional information on the impairment charges at the AmeriGas Propane reporting unit. Accumulated goodwill impairment was $851 and $656 at September 30, 2024 and 2023, respectively. Except for the previously mentioned impairment charges at the AmeriGas Propane reporting unit, there were no other impairments of goodwill recognized in all periods presented. The Company will continue to monitor its reporting units and related goodwill for any possible future non-cash impairment charges. Impairment of Long-Lived Assets Impairment testing for long-lived assets (or an asset group) is required when circumstances indicate that such assets may be impaired. If it is determined that a triggering event has occurred, we perform a recoverability test based upon estimated undiscounted cash flow projections expected to be realized over the remaining useful life of the long-lived asset. If the undiscounted cash flows used in the recoverability test are less than the long-lived asset's carrying amount, we determine its fair value. If the fair value is determined to be less than its carrying amount, the long-lived asset is reduced to its estimated fair value and an impairment loss is recognized in an amount equal to such shortfall. When determining whether a long-lived asset has been impaired, management groups assets at the lowest level that has identifiable cash flows that are independent of other assets. The impairments of AmeriGas Propane’s goodwill were determined to be a triggering event requiring an impairment analysis of AmeriGas Propane’s long-lived and definite lived intangible assets. Accordingly, the Company performed a recoverability test of AmeriGas Propane’s long-lived assets, including right-of-use (“ROU”) assets and definite lived intangible assets, as of July 31, 2024, the measurement date of our annual goodwill impairment test, and May 31, 2023, using estimated undiscounted cash flow projections expected to be generated over the remaining useful life of the primary asset of the asset group at the lowest level with identifiable cash flows that are independent of other assets. Based on the recoverability tests performed, we determined that (1) AmeriGas Propane’s long-lived assets, including ROU assets and definite lived intangible assets, were recoverable and, as such, no impairment charges were recorded; and (2) no adjustments to the remaining useful lives were necessary as of July 31, 2024 and May 31, 2023. See Note 5 for information on the impairment loss associated with the disposal of UGID during Fiscal 2024. No other material provisions for impairments of long-lived assets were recorded during Fiscal 2024 and Fiscal 2023. Refundable Tank and Cylinder Deposits Included in “Other noncurrent liabilities” on our Consolidated Balance Sheets are customer paid deposits on tanks and cylinders primarily owned by subsidiaries of UGI France of $243 and $249 at September 30, 2024 and 2023, 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 effects 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 be reasonably estimated. Amounts recorded as environmental liabilities on the Consolidated 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. These estimates are based upon a number of factors including whether the Company will be responsible for such remediation, the scope and cost of the remediation work to be performed, the portion of costs that will be shared with other potentially responsible parties, the timing of the remediation and possible impact of changes in technology, and the regulations and requirements of local governmental authorities. 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. If the amount and timing of cash payments associated with environmental investigation and cleanup are reliably determinable, such liabilities are discounted to reflect the time value of money. We intend to pursue recovery of incurred costs through all appropriate means, including regulatory relief. PA Gas Utility receives ratemaking recognition of environmental investigation and remediation costs associated with in-state environmental sites. This ratemaking recognition balances the accumulated difference between historical costs and rate recoveries with an estimate of future costs associated with the sites. See Note 16 for additional information. Loss Contingencies Subject to Insurance We are subject to risk of loss for general, automobile and product liability, and workers’ compensation claims for which we obtain insurance coverage under insurance policies that are subject to self-insured retentions or deductibles. We record accruals when it is probable that a liability exists and the amount or range of amounts can be reasonably estimated. When no amount within a range of possible loss is a better estimate than any other amount within the range, liabilities recorded are based upon the low end of the range. For litigation and pending claims including those covered by insurance policies, the analysis of probable loss is performed on a case by case basis and includes an evaluation of the nature of the claim, the procedural status of the matter, the probability or likelihood of success in prosecuting or defending the claim, the information available with respect to the claim, the opinions and views of outside counsel and other advisors, and past experience in similar matters. With respect to unasserted claims arising from unreported incidents, we may use the work of specialists to estimate the ultimate losses to be incurred using actuarially determined loss development factors applied to actual claims data. Our estimated reserves for loss contingencies may differ materially from the ultimate liability and such reserves may change materially as more information becomes available and estimated reserves are adjusted. We maintain insurance coverage such that our net exposure for claims covered by insurance would be limited to the self-insured retentions or deductibles, claims above which would be paid by the insurance carrier. For such claims, we record a receivable related to the amount of the liability expected to be paid by insurance. 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 U.S. 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).

Accounting Changes

Accounting Changes	12 Months Ended
	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Changes	Note 3 — Accounting Changes New Accounting Standard Adopted in Fiscal 2024 Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40)” which requires enhanced disclosure of income statement expense categories to improve transparency and provide financial statement users with more detailed information about the nature, amount and timing of expenses impacting financial performance. This new guidance is effective for the Company for annual periods beginning October 1, 2027 (Fiscal 2028) and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Segment Reporting. In November 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures (Topic 280)” which requires enhanced disclosure of (1) significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, (2) the amount and description of the composition of other segment items which reconcile to segment profit or loss, and (3) the title and position of the entity’s CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and allocating resources. The amendments also expand the interim segment disclosure requirements. This new guidance is effective for the Company for annual periods beginning October 1, 2024 (Fiscal 2025) and interim periods beginning October 1, 2025 (Fiscal 2026). Early adoption is permitted. The amendments in this ASU apply retrospectively to all prior periods presented in the financial statements. The Company will adopt the new guidance effective for the year ending September 30, 2025 and provide the additional disclosures as required by the new guidance. Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures (Topic 740)” which requires entities to disclose, among other items, disaggregated information about a reporting entity’s effective tax rate reconciliation and income taxes paid. This new guidance is effective for the Company for annual periods beginning October 1, 2025 (Fiscal 2026). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 4 — Revenue from Contracts with Customers The Company recognizes revenue when control of promised goods or services is transferred to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. The Company generally has the right to consideration from a customer in an amount that corresponds directly with the value to the customer for performance completed to date. As such, we have elected to recognize revenue in the amount to which we have a right to invoice except in the case of certain of Utilities’ large delivery service customers and Midstream & Marketing’s peaking contracts for which we recognize revenue on a straight-line basis over the term of the contract, consistent with when the performance obligations are satisfied by the Company. We do not have a significant financing component in our contracts because we receive payment shortly before, at, or shortly after the transfer of control of the good or service. Because the period between the time the performance obligation is satisfied and payment is received is generally one year or less, the Company has elected to apply the significant financing component practical expedient and no amount of consideration has been allocated as a financing component. The Company’s revenues from contracts with customers are discussed below. Utility Revenues Utilities supplies natural gas and electricity and provides distribution services of natural gas and electricity to residential, commercial, and industrial customers who are generally billed at standard regulated tariff rates approved by the regulatory bodies through the ratemaking process. Tariff rates include a component that provides for a reasonable opportunity to recover operating costs and expenses and to earn a return on net investment, and a component that provides for the recovery, subject to reasonableness reviews, of PGC, PGA and DS costs. Customers may choose to purchase their natural gas and electricity from Utilities, or, alternatively, may contract separately with alternate suppliers. Accordingly, our contracts with customers comprise two promised goods or services: (1) delivery service of natural gas and electricity through the Company’s utility distribution systems and (2) the natural gas or electricity commodity itself for those customers who choose to purchase the natural gas or electricity directly from the Company. Revenue is not recorded for the sale of natural gas or electricity to customers who have contracted separately with alternate suppliers. For those customers who choose to purchase their natural gas or electricity from the Company, the performance obligation includes both the supply of the commodity and the delivery service. The terms of our core market customer contracts are generally considered day-to-day as customers can discontinue service at any time without penalty. Performance obligations are generally satisfied over time as the natural gas or electricity is delivered to customers, at which point the customers simultaneously receive and consume the benefits provided by the delivery service and, when applicable, the commodity. Amounts are billed to customers based upon the reading of a customer’s meter, which occurs on a cycle basis throughout each reporting period. An unbilled amount is recorded at the end of each reporting period based upon estimated amounts of natural gas or electricity delivered to customers since the date of the last meter reading. These unbilled estimates consider various factors such as historical customer usage patterns, customer rates and weather. Utilities has certain fixed-term contracts with large commercial and industrial customers to provide natural gas delivery services at contracted rates and at volumes generally based on the customer’s needs. The performance obligation to provide the contracted delivery service for these large commercial and industrial customers is satisfied over time and revenue is generally recognized on a straight-line basis. Utilities makes off-system sales whereby natural gas delivered to our system in excess of amounts needed to fulfill our distribution system needs is sold to other customers, primarily other distributors of natural gas, based on an agreed-upon price and volume between the Company and the counterparty. Utilities also sells excess natural gas capacity whereby interstate pipeline capacity in excess of amounts needed to meet our customer obligations is sold to other distributors of natural gas based upon an agreed-upon rate. Off-system sales and capacity releases are generally entered into one month at a time and comprise the sale of a specific volume of gas or pipeline capacity at a specific delivery point or points over a specific time. As such, performance obligations associated with off-system sales and capacity release customers are satisfied, and associated revenue is recorded, when the agreed upon volume of natural gas is delivered or capacity is provided, and title is transferred, in accordance with the contract terms. Electric Utility provides transmission services to PJM by allowing PJM to access Electric Utility’s electricity transmission facilities. In exchange for providing access, PJM pays Electric Utility consideration determined by a formula-based rate approved by the FERC. The formula-based rate, which is updated annually, allows recovery of costs incurred to provide transmission services and return on transmission-related net investment. We recognize revenue over time as we provide transmission service. Other Utility revenues represent revenues from other ancillary services provided to customers and are generally recorded as the service is provided to customers. Non-Utility Revenues LPG . UGI International and AmeriGas Propane record revenue principally from the sale of LPG to retail and wholesale customers. The primary performance obligation associated with the sale of LPG is the delivery of LPG to (1) the customer’s point of delivery for retail customers and (2) the customer’s specified location where LPG is picked up by wholesale customers, at which point control of the LPG is transferred to the customer, the performance obligation is satisfied, and the associated revenue is recognized. Contracts with customers comprise different types of contracts with varying length terms, fixed or variable prices, and fixed or variable quantities. Contracts with our residential customers, which comprise a substantial number of our customer contracts, are generally one year or less. Customer contracts for the sale of LPG include fixed-price, fixed-quantity contracts under which LPG is provided to customers at a fixed price and a fixed volume, and contracts that provide for the sale of LPG at market prices at date of delivery with no fixed volumes. AmeriGas Propane offers contracts that permit customers to lock in a fixed price for their volumes for a fee and also provide customers with the option to pre-buy a fixed amount of LPG at a fixed price. Amounts received under pre-buy arrangements are recorded as a contract liability when received and recorded as revenue when LPG is delivered and control is transferred to the customer. Fee revenue associated with fixed-price contracts are recorded as contract liabilities and recorded ratably over the contract period. UGI International and AmeriGas Propane also distribute LPG to customers in portable cylinders. Under certain contracts, filled cylinders are delivered, and control is transferred, to a reseller. In such instances, the reseller is our customer and we record revenue upon delivery to the reseller. Under other contracts, filled cylinders are delivered to a reseller, but the Company retains control of the cylinders. In such instances, we record revenue at the time the reseller transfers control of the cylinder to the end user. Certain retail LPG customers for AmeriGas Propane receive credits which we account for as variable consideration. We estimate these credits based upon past practices and historical customer experience and we reduce our revenues recognized for these credits. Energy Marketing. Midstream & Marketing and UGI International operate energy marketing businesses that sell energy commodities, principally natural gas and electricity, to residential, commercial, industrial and wholesale customers. See Note 5 regarding recent transactions related to UGI International’s energy marketing business. Midstream & Marketing and, prior to the exit of substantially all of its energy marketing business as of the end of the first quarter of Fiscal 2024, UGI International market natural gas and electricity on full-requirements or agreed-upon volume bases under contracts with varying length terms and at fixed or floating prices that are based on market indices adjusted for differences in price between the market location and delivery locations. Performance obligations associated with these contracts primarily comprise the delivery of the natural gas and electricity over a contractual period of time. Performance obligations also include other energy-related ancillary services provided to customers such as capacity. For performance obligations that are satisfied at a point in time such as the delivery of natural gas, revenue is recorded when customers take control of the natural gas. Revenue is recorded for performance obligations that qualify as a series, when customers consume the natural gas or electricity is delivered, which corresponds to the amount invoiced to the customer. For transactions where the price or volume is not fixed, the transaction price is not determined until delivery occurs. The billed amount, and the revenue recorded, is based upon consumption by the customer. Midstream. Midstream & Marketing provides natural gas pipeline transportation, natural gas gathering, natural gas processing and natural gas underground storage services, which generally contain a performance obligation for the Company to have availability to transport or store a product. Additionally, the Company provides stand-ready services to sell supplemental energy products and related services, primarily LNG and propane-air mixtures during periods of high demand that typically result from cold weather. The Company also sells LNG to end-user customers for use by trucks, drilling rigs and other motored vehicles and equipment, and facilities that are located off the natural gas grid. Contracts for natural gas transportation and gathering services are typically long-term contracts with terms of up to 30 years, while contracts for storage are typically for one-year or multiple storage season periods. Contracts to provide natural gas during periods of high demand have terms of up to 15 years. Contracts to sell LNG for trucks, drilling rigs and other motor vehicles and facilities are typically short-term (less than one year). Depending on the type of services provided or goods sold, midstream revenues may consist of demand rates, commodity rates, and transportation rates and may include other fees for ancillary services. Pipeline transportation, natural gas gathering and storage services provided and services to stand ready to sell supplemental energy products and services each are considered to have a single performance obligation satisfied through the passage of time ratably based upon providing a stand-ready service generally on a monthly basis. Contracts to sell LNG to end-user customers contain performance obligations to deliver LNG over the term of the contract and revenue is recognized at a point in time when the control of the energy products is transferred to the customer. The price in the contract corresponds to our efforts to satisfy the performance obligation and reflects the consideration we expect to receive for the satisfied performance obligation, and, therefore, the revenue is recognized based on the volume delivered and the price within the contract. In cases where shipping and handling occurs prior to the LNG being delivered to the customer’s storage vessel, we have elected to treat this as a cost of fulfillment and not a separate performance obligation. Revenues are typically billed and payment received monthly. Advance fees received from customers for stand-ready services are deferred as contract liabilities and revenue is recognized ratably over time as the performance obligation is satisfied over a period less than one year. Electricity Generation. Prior to its sale in September 2024, Midstream & Marketing sold power generated from electricity generation assets in the wholesale electricity markets administered by PJM regional transmission organization. Power contracts with PJM consist of the sale of power, capacity and ancillary services, all of which were considered a bundle of various services. Performance obligations were satisfied over time, generally on a daily basis, as electricity is delivered to and simultaneously consumed by the customer. As such, the Company had elected to recognize revenue in the amount to which we had a right to invoice which was based on market prices at the time of the delivery of the electricity to the customers. Other. Other revenues from contracts with customers are generated primarily from AmeriGas Propane’s parts and services business. The performance obligations of this business include installation and repair services. The performance obligations under these contracts are satisfied, and revenue is recognized, as control of the product is transferred or the services are rendered. Other LPG revenues from contracts with customers are generated primarily from certain fees UGI International and AmeriGas Propane charge associated with the delivery of LPG, including hazmat safety compliance, inspection, metering, installation, fuel recovery and certain other services. Revenues from fees are typically recorded when the LPG is delivered to the customer or the associated service is completed. Revenue Disaggregation The following tables present our disaggregated revenues by reportable segment: 2024 Total Eliminations Utilities Midstream & Marketing UGI International AmeriGas Propane Corporate & Other Revenues from contracts with customers: Utility: Core Market: Residential $ 873 $ — $ 873 $ — $ — $ — $ — Commercial & Industrial 344 — 344 — — — — Large delivery service 183 — 183 — — — — Off-system sales and capacity releases 67 (48) 115 — — — — Other 36 (1) 37 — — — — Total Utility 1,503 (49) 1,552 — — — — Non-Utility: LPG: Retail 3,733 — — — 1,816 1,917 — Wholesale 270 — — — 180 90 — Energy Marketing (b) 980 (96) — 948 170 — (42) Midstream: Pipeline 246 — — 246 — — — Peaking 10 (121) — 131 — — — Other 16 — — 16 — — — Electricity Generation 27 — — 27 — — — Other 260 — — — 74 186 — Total Non-Utility 5,542 (217) — 1,368 2,240 2,193 (42) Total revenues from contracts with customers 7,045 (266) 1,552 1,368 2,240 2,193 (42) Other revenues (c) 165 — 46 1 39 78 1 Total revenues $ 7,210 $ (266) $ 1,598 $ 1,369 $ 2,279 $ 2,271 $ (41) 2023 Total Eliminations Utilities Midstream & Marketing UGI International AmeriGas Propane Corporate & Other Revenues from contracts with customers: Utility: Core Market: Residential $ 1,020 $ — $ 1,020 $ — $ — $ — $ — Commercial & Industrial 413 — 413 — — — — Large delivery service 177 — 177 — — — — Off-system sales and capacity releases 89 (73) 162 — — — — Other 43 (1) 44 — — — — Total Utility 1,742 (74) 1,816 — — — — Non-Utility: LPG: Retail 3,952 — — — 1,768 2,184 — Wholesale 325 — — — 207 118 — Energy Marketing 2,139 (143) — 1,410 872 — — Midstream: Pipeline 251 — — 251 — — — Peaking 31 (106) — 137 — — — Other 14 — — 14 — — — Electricity Generation 33 — — 33 — — — Other 274 — — — 80 194 — Total Non-Utility 7,019 (249) — 1,845 2,927 2,496 — Total revenues from contracts with customers 8,761 (323) 1,816 1,845 2,927 2,496 — Other revenues (c) 167 (3) 38 2 38 85 7 Total revenues $ 8,928 $ (326) $ 1,854 $ 1,847 $ 2,965 $ 2,581 $ 7 2022 Total Eliminations Utilities Midstream & Marketing UGI International AmeriGas Propane Corporate & Other Revenues from contracts with customers: Utility: Core Market: Residential $ 875 $ — $ 875 $ — $ — $ — $ — Commercial & Industrial 365 — 365 — — — — Large delivery service 171 — 171 — — — — Off-system sales and capacity releases 76 (104) 180 — — — — Other 23 (1) 24 — — — — Total Utility 1,510 (105) 1,615 — — — — Non-Utility: LPG: Retail 4,436 — — — 1,997 2,439 — Wholesale 496 — — — 278 218 — Energy Marketing 2,951 (264) — 1,917 1,298 — — Midstream: Pipeline 211 — — 211 — — — Peaking 48 (105) — 153 — — — Other 9 — — 9 — — — Electricity Generation 34 — — 34 — — — Other 286 — — — 79 207 — Total Non-Utility 8,471 (369) — 2,324 3,652 2,864 — Total revenues from contracts with customers 9,981 (474) 1,615 2,324 3,652 2,864 — Other revenues (c) 125 (3) 5 2 34 79 8 Total revenues $ 10,106 $ (477) $ 1,620 $ 2,326 $ 3,686 $ 2,943 $ 8 (a) Includes intersegment revenues principally among Midstream & Marketing, Utilities and AmeriGas Propane. (b) Corporate & Other includes reduction of revenues of $42 associated with the early termination of certain DVEP customer contracts. See Note 5 for additional information. (c) Primarily represents (1) revenues from tank rentals at UGI International and AmeriGas Propane; (2) revenues from certain gathering assets at Midstream & Marketing; (3) revenues from alternative revenue programs at Utilities, including the weather normalization adjustment rider beginning on November 1, 2022 for PA Gas Utility; and (4) gains and losses on commodity derivative instruments not associated with current-period transactions reflected in Corporate & Other, none of which are within the scope of ASC 606 and are accounted for in accordance with other GAAP. Contract Balances The timing of revenue recognition may differ from the timing of invoicing to customers or cash receipts. Contract assets represent our right to consideration after the performance obligations have been satisfied when such right is conditioned on something other than the passage of time. Contract assets were not material at September 30, 2024 and 2023. Substantially all of our receivables are unconditional rights to consideration and are included in “Accounts receivable” and, in the case of Utilities, “Accrued utility revenues” on the Consolidated Balance Sheets. Amounts billed are generally due within the following month. Contract liabilities arise when payment from a customer is received before the performance obligations have been satisfied and represent the Company’s obligations to transfer goods or services to a customer for which we have received consideration. The balances of contract liabilities were $140 and $158 at September 30, 2024 and 2023, respectively, and are primarily included in “Deposits and advances” on the Consolidated Balance Sheets. Revenues recognized during Fiscal 2024, Fiscal 2023 and Fiscal 2022 from the amounts included in contract liabilities at September 30, 2023, September 30, 2022 and September 30, 2021 was $120, $127 and $119, respectively. Remaining Performance Obligations The Company excludes disclosures related to the aggregate amount of the transaction price allocated to certain performance obligations that are unsatisfied as of the end of the reporting period because these contracts have an initial expected term of one year or less, or we have a right to bill the customer in an amount that corresponds directly with the value of services provided to the customer to date. Certain contracts with customers at Midstream & Marketing and Utilities contain minimum future performance obligations through 2047 and 2053, respectively. At September 30, 2024, Midstream & Marketing and Utilities expect to record approximately $2.3 billion and $0.2 billion of revenues, respectively, related to the minimum future performance obligations over the remaining terms of the related contracts.

Dispositions and Acquisitions

Dispositions and Acquisitions	12 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Acquisitions	Note 5 — Dispositions and Acquisitions Dispositions UGID In June 2024, Energy Services entered into a Stock Purchase Agreement to sell all of its ownership interest in UGID. UGID owns and operates the Hunlock Creek Energy Center located in Wilkes-Barre, PA, a 169-megawatt natural gas-fueled electricity generating station. The sale of UGID was completed in September 2024, for net cash proceeds of $43. During the third quarter of Fiscal 2024, the Company classified UGID’s assets and liabilities, substantially all of which comprise long-lived assets, as held for sale and recognized a non-cash, pre-tax impairment charge of $62 to record such assets at estimated fair value less costs to sell. In accordance with the Company’s accounting policy, such impairment loss was limited to the disposal group’s long-lived assets. During the fourth quarter of Fiscal 2024, in conjunction with the closing of the sale, the Company recognized an incremental loss on disposal, resulting in a total Fiscal 2024 loss of $66, which amount is included in “Loss on disposals of businesses” on the Consolidated Statement of Income and included in the Midstream & Marketing reportable segment. UGI International Energy Marketing Transactions As of the end of the first quarter of Fiscal 2024, pursuant to its previously announced decision, the Company had exited substantially all of its European energy marketing business which primarily marketed natural gas and electricity to customers through third-party distribution systems in France, Belgium, the Netherlands, and the United Kingdom. France. In October 2023, UGI International, through a wholly-owned subsidiary, sold substantially all of its energy marketing business located in France for a net cash payment to the buyer of $29. In conjunction with the sale, the Company recorded a pre-tax loss of $29 in Fiscal 2024, which amount principally represents the net payment to the buyer. The loss is reflected in “Loss on disposals of businesses” on the Consolidated Statements of Income. The carrying values of the assets and liabilities associated with this business, principally comprising certain commodity derivative instruments, energy certificates and certain working capital, were not material. Belgium. In September 2023, UGI International, through a wholly-owned subsidiary, sold its energy marketing business located in Belgium for a net cash payment to the buyer of $3. Pursuant to the sale agreement, the Company transferred to the buyer certain assets, principally comprising customer and energy broker contracts. In conjunction with the sale, the Company recorded a pre-tax loss of $6 in Fiscal 2023, which amount includes the net payment to the buyer, the write-off of certain prepaid energy broker payments and associated transaction costs and fees. The loss is reflected in “Loss on disposals of businesses” on the Consolidated Statements of Income. United Kingdom. In October 2022, UGI International, through a wholly-owned subsidiary, sold its natural gas marketing business located in the U.K. for a net cash payment to the buyer of $19. In conjunction with the sale, the Company recorded a pre-tax loss of $215 in Fiscal 2023, substantially all of which was due to the non-cash transfer of commodity derivative instruments associated with the business. The loss is reflected in “Loss on disposals of businesses” on the Consolidated Statements of Income. At the date of closing of the sale, these commodity derivative instruments had a net carrying value of $206 which is attributable to net unrealized gains on such instruments. Netherlands. In September 2023, a substantial number of DVEP’s customers agreed to modify their energy marketing contracts whereby the Company would continue to provide the delivery of electricity and natural gas at fixed prices through December 31, 2023, with the Company’s obligations to provide future services terminated effective January 1, 2024. As consideration for the early termination of such contracts, the Company has agreed to make cash payments to the customers equal to the fair values of specific commodity derivative instruments associated with periods after December 31, 2023. The early termination agreements with DVEP customers are considered contract modifications and the cash consideration paid to these customers has been reflected as a reduction in revenues, on a pro-rata basis, over the remaining performance period of such agreements through December 31, 2023. During the first quarter of Fiscal 2024, the Company settled the commodity derivative instruments for a gain of $46, which represents the fair value of the specific commodity derivative instruments associated with periods after December 31, 2023; and reduced its revenues from these customers by $42, which represents the pro-rated performance obligation from October 1, 2023 through December 31, 2023. In conjunction with the wind-down of its European energy marketing business, in December 2023, DVEP completed a sale of a substantial portion of its power purchase agreements to a third party for a total consideration to the buyer of $5. In conjunction with the sale, the Company recorded a loss of $5, which is reflected in “Other operating income, net” on the Consolidated Statements of Income. During the first quarter of Fiscal 2023, the Company recorded a $19 pre-tax impairment charge to reduce the carrying values of certain assets associated with its energy marketing business in the Netherlands, comprising property, plant and equipment and intangible assets. The impairment charge is reflected in “Operating and administrative expenses” on the Consolidated Statements of Income and included in the UGI International reportable segment. Acquisitions of Assets Pennant . During the fourth quarter of Fiscal 2022, Energy Services completed the Pennant Acquisition and acquired the remaining 53% of the equity interests in Pennant. Prior to the Pennant Acquisition, the Company’s investment in Pennant was accounted for as an equity method investment as we had the ability to exercise significant influence, but not control, over the entity. The acquisition of the remaining interests was accounted for as an acquisition of assets, and the purchase price of approximately $61 was primarily allocated to property, plant and equipment, and funded using available cash. In connection with the acquisition of the controlling financial interest in Pennant, the Company recognized an other-than-temporary pre-tax impairment charge of $44 related to its then existing 47% membership interest, which amount is reflected in “(Loss) income from equity investees” on the Fiscal 2022 Consolidated Statement of Income. Stonehenge . In January 2022, Energy Services completed the Stonehenge Acquisition and acquired all of the equity interests in Stonehenge for total cash consideration of approximately $190. The Stonehenge business includes a natural gas gathering system, located in western Pennsylvania, with more than 47 miles of pipeline and associated compression assets. The Stonehenge Acquisition is consistent with our growth strategies, including expanding our midstream natural gas gathering assets within the Appalachian basin production region. The Stonehenge Acquisition was funded using available cash. This transaction has been accounted for as an acquisition of assets, and the purchase price has been primarily allocated to property, plant and equipment. We refer to Stonehenge and its assets as UGI Moraine East.

Debt

Debt	12 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Note 6 — Debt Significant Financing Activities During Fiscal 2024 Utilities Mountaineer 2023 Credit Agreement. In April 2024, Mountaineer entered into the fourth amendment to the Mountaineer 2023 Credit Agreement, which extends the maturity date of the agreement from November 2024 to December 2025. The applicable margin remains unchanged from the original credit agreement. UGI Utilities Senior Notes. In November 2023, UGI Utilities entered into a Note Purchase Agreement with a consortium of lenders. Pursuant to the Note Purchase Agreement, UGI Utilities issued (1) $25 aggregate principal amount of 6.02% Senior Notes due November 30, 2030; (2) $150 aggregate principal amount of 6.10% Senior Notes due November 30, 2033; and (3) $75 aggregate principal amount of 6.40% Senior Notes due November 30, 2053. The Note Purchase Agreement contains customary covenants and default provisions and requires compliance with certain financial covenants including a leverage ratio and priority debt ratio as defined in the agreement. These senior notes are unsecured and rank equally with UGI Utilities’ existing outstanding senior debt. The net proceeds from these issuances were used to reduce short-term borrowings and for general corporate purposes. UGI Utilities 2023 Credit Agreement. In November 2023, UGI Utilities entered into the UGI Utilities 2023 Credit Agreement providing for borrowings up to $375 (including a $50 sublimit for letters of credit and a $38 sublimit for swingline loans). UGI Utilities may request an increase in the amount of loan commitments under the credit agreement to a maximum aggregate amount of $125. The interest rates applicable to borrowings under the UGI Utilities 2023 Credit Agreement remain unchanged from its predecessor agreement, the UGI Utilities Credit Agreement. The UGI Utilities 2023 Credit Agreement contains customary covenants and default provisions and requires compliance with certain financial covenants including a maximum debt to capitalization ratio as defined in the agreement. The credit agreement is scheduled to expire in November 2028. Borrowings under the credit agreement may be used to refinance UGI Utilities’ existing indebtedness and for general corporate purposes and ongoing working capital needs of UGI Utilities. Midstream & Marketing Energy Services Term Loan Credit Agreement. In June 2024, Energy Services entered into the second amendment to the Energy Services Term Loan Credit Agreement. The Energy Services Term Loan Credit Agreement, as amended, provides, among other items, that the applicable margin shall be 2.50% per annum for Term SOFR loans and 1.50% per annum for base rate loans. All other significant terms of the term loan credit agreement remain unchanged. Energy Services Credit Agreement. In May 2024, Energy Services entered into the fourth amendment to the UGI Energy Services Credit Agreement. The amended credit agreement provides for borrowings up to $300, including a $50 sublimit for letters of credit. Borrowings under the Energy Services Credit Agreement, as amended, bear interest, subject to our election, at a rate per annum equal to (i) the alternative base rate plus the applicable margin as defined by the agreement or (ii) the adjusted Term SOFR rate plus the applicable margin as defined by the agreement. Borrowings under the credit agreement can be used for general corporate purposes and ongoing working capital needs of Energy Services and is scheduled to expire in May 2028. All other significant terms of the credit agreement remain unchanged. UGI International UGI International 2023 Credit Agreement. In June 2024, UGI International, LLC and its indirect wholly-owned subsidiary, UGI International Holdings B.V., entered into the first amendment to the UGI International 2023 Credit Agreement, which provides for the establishment and incorporation of specific key performance indicators with respect to Environmental, Social and Governance targets, whereby based on UGI International, LLC’s performance against the key performance indicators, certain adjustments of up to 0.05% in total to the applicable margin may be made. All other significant terms of the credit agreement remain unchanged. AmeriGas Propane AmeriGas Senior Secured Revolving Credit Facility. In August 2024, AmeriGas OLP entered into the AmeriGas Senior Secured Revolving Credit Facility, a five-year senior secured revolving credit facility maturing August 2029, providing for commitments up to $200 (including a $20 sublimit for letters of credit), subject to the terms and conditions of the agreement. The maximum borrowings permitted to be made at any time under the agreement is equal to (a) the lesser of (x) the Formula Amount for the borrowing base and (y) the Maximum Revolving Advance Amount less the outstanding Advances less the maximum undrawn amount of all outstanding letters of credit less unreimbursed fees and expenses owing to the Agent or any Lender, as defined by the agreement. Borrowings under this credit facility were used to pay off borrowings under the 2022 AmeriGas OLP Credit Agreement and are available for general corporate purposes and ongoing working capital needs of AmeriGas OLP. Borrowings under this credit agreement are secured by certain assets of AmeriGas OLP, including, but not limited to, accounts receivables and inventory, and are guaranteed by any material subsidiaries of AmeriGas OLP. In addition, this credit facility requires AmeriGas OLP to abide by certain financial covenants from time to time including a minimum fixed charge coverage ratio and a senior notes liquidity covenant, each as defined in the agreement. Concurrently with entering into AmeriGas Senior Secured Revolving Credit Facility, AmeriGas OLP terminated the 2022 AmeriGas OLP Credit Agreement. AmeriGas Partners Senior Notes. In June 2024, pursuant to an early tender offer, AmeriGas Partners and AmeriGas Finance Corp. repurchased $475 aggregate principal amount of the 5.50% Senior Notes due May 2025. Cash on hand, a $315 cash contribution from the Company and other sources of liquidity were used for the repurchase. Following the repurchase, $218 aggregate principal amount of the 5.50% Senior Notes remain outstanding at September 30, 2024, and are included in “Current maturities of long-term debt” on the Consolidated Balance Sheets. In March 2024, AmeriGas Partners and AmeriGas Finance Corp. entered into separate, privately negotiated repurchase agreements with a limited number of holders of the outstanding senior notes to repurchase $38 aggregate principal amount of the senior notes. AmeriGas Partners and AmeriGas Finance Corp. repurchased $7, $11, $13, and $7 par value of its issued and outstanding 5.50% Senior Notes, 5.875% Senior Notes, 5.75% Senior Notes, and 9.375% Senior Notes, respectively. UGI Corporation UGI Corporation Credit Facility Agreement. In April 2024, UGI entered into the fourth amendment to the UGI Corporation Credit Facility Agreement which extended the maturity date of substantially all of the borrowings under the UGI Corporation Credit Facility Agreement to August 29, 2025. The fourth amendment also increased the applicable rate (as defined in the UGI Corporation Credit Facility Agreement, as amended) of the $215 term loan facility, and the $300 term loan facility by 0.375%. All other significant terms of the credit agreement remained unchanged. In June 2024, a portion of the net proceeds from the issuance of the UGI Corporation Senior Notes (as described below) were used to repay a portion of borrowings under the UGI Corporation Credit Facility agreement. UGI Corporation Senior Notes. In June 2024, UGI issued, in an underwritten private placement, an aggregate $700 principal amount of 5.00% UGI Corporation Senior Notes due June 2028. The UGI Corporation Senior Notes are senior, unsecured obligations and rank equal in right of payment with our existing and future senior, unsecured indebtedness. Interest is payable semi-annually on June 1 and December 1 of each year, beginning on December 1, 2024, and will mature on June 1, 2028, unless earlier repurchased or converted. The net proceeds from the issuance of the UGI Corporation Senior Notes of approximately $682, after underwriters fees and other debt issuance costs, were used (1) to repay a portion of borrowings under the UGI Corporation Credit Facility Agreement; (2) to make cash contribution of $315 to the Partnership to repay a portion of its 5.50% Senior Notes as described above; and (3) for general corporate purposes. The UGI Corporation Senior Notes were issued pursuant to, and are governed by, an indenture dated as of June 11, 2024. The UGI Corporation Senior Notes are convertible subject to the occurrence of certain events and circumstances. Before March 1, 2028, noteholders will have the right to convert their notes only upon the occurrence of certain events as follows: 1. During any fiscal quarter commencing after the fiscal quarter ending September 30, 2024, if the market price of the Company’s common stock reaches 130% of the conversion price (initially $27.60) for a specified period of time; 2. The trading price of the Notes falls below 98% of the product of the sale price of the Company’s common stock and the conversion rate, for a specified period. The Company is not obligated to track the trading price of the notes unless a holder of the notes provides the Company reasonable evidence that the Notes are trading at 98% of the product of the sale price of the Company’s common stock and the conversion rate, as defined in the indenture; 3. Upon the occurrence of specific corporate events related to specific types of distributions as defined in the indenture; or 4. Upon the occurrence of a Fundamental Change, Make Whole Fundamental Change or Common Stock Change Event as defined in the indenture From and after March 1, 2028, holders of the UGI Corporation Senior Notes may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. As of September 30, 2024, none of the events permitting the noteholders to convert their notes early occurred. Accordingly, the UGI Corporation Senior Notes are classified as “Long-term debt” on the Consolidated Balance Sheet at September 30, 2024. At September 30, 2024, the estimated fair value of the UGI Corporation Senior notes is $744. 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). Upon conversion, the Company will pay cash up to the aggregate principal amount of the UGI Corporation Senior notes. For the remainder of the amount in excess of the aggregate principal amount, if applicable, the Company will have the sole right to elect the settlement method upon conversion which can be either entirely in cash or in a combination of cash and shares of its common stock. The default settlement method as defined in the agreement is a combination settlement with a specified dollar amount of $1,000 per $1,000 principal of the UGI Corporation Senior Notes, and any incremental value settled in shares of the Company’s common stock. The initial conversion rate is 36.2319 shares of the Company’s common stock per $1,000 principal amount of the UGI Corporation Senior Notes, which represents an initial conversion price of approximately $27.60 per share of the Company’s common stock. The conversion rate and conversion price will be subject to customary adjustments upon the occurrence of certain events. In addition, if certain corporate events that constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time. The Company may not redeem the UGI Corporation Senior Notes at its option before maturity. Subsequent Events UGI Utilities Senior Notes. In November 2024, UGI Utilities entered into a Note Purchase Agreement with a consortium of lenders. Pursuant to the Note Purchase Agreement, UGI Utilities issued $50 aggregate principal amount of 5.24% Senior Notes due November 30, 2029, and $125 aggregate principal amount of 5.52% Senior Notes due November 30, 2034. The Note Purchase Agreement contains customary covenants and default provisions and requires compliance with certain financial covenants including a leverage ratio and priority debt ratio as defined in the agreement. These senior notes are unsecured and rank equally with UGI Utilities’ existing outstanding senior debt. The net proceeds from these issuances were used to reduce short-term borrowings and for general corporate purposes. AmeriGas Senior Secured Revolving Credit Facility. In October 2024, AmeriGas OLP amended the AmeriGas Senior Secured Revolving Credit Facility to increase total commitments to a total of $300. The maximum borrowings permitted to be made at any time under the Credit Agreement is equal to the lesser of (x) the Formula Amount for the borrowing base and (y) the Maximum Revolving Advance Amount, as defined in the agreement. UGI Corporation 2025 Credit Agreement. In October 2024, UGI entered into a new UGI Corporation 2025 Credit Agreement, consisting of (1) a $475 revolving credit facility, including a $10 sublimit for letters of credit and (2) a $400 variable-rate term loan. The revolving credit facility is scheduled to expire in October 2028 and the term loan facility is scheduled to mature in October 2027. Proceeds from the UGI Corporation 2025 Credit Agreement were used to prepay all borrowings under the UGI Corporation Credit Facility Agreement due August 29, 2025 and, concurrent with such repayment, terminated the agreement. At September 30, 2024, borrowings outstanding under the UGI Corporation Credit Facility Agreement totaling $630 have been classified as long-term debt on the Consolidated Balance Sheet based on the Company’s intent and ability to refinance the obligation with long-term debt issued under the UGI Corporation 2025 Credit Agreement. Borrowings under the UGI Corporation 2025 Credit Agreement bear interest, subject to our election, at a rate per annum equal to (i) the alternative base rate plus the applicable rate as defined by the agreement or (ii) the adjusted Term SOFR rate plus the applicable rate as defined by the agreement. The Company has entered into an interest rate swap agreement that will generally fix the underlying market-based interest rate on the variable-rate loan through September 2027. Borrowings under the credit agreement can be used for general corporate purposes and ongoing working capital needs of the Company. Credit Facilities and Short-term Borrowings Information about the Company’s principal credit agreements (excluding the Energy Services Receivables Facility, which is discussed below) as of September 30, 2024 and 2023, is presented in the following table. Borrowings under these credit agreements bear interest at rates indexed to short-term market rates. Borrowings outstanding under these agreements (other than the UGI Corporation Credit Facility Agreement) are classified as “Short-term borrowings” on the Consolidated Balance Sheets. Expiration Date Total Capacity Borrowings Outstanding Letters of Credit and Guarantees Outstanding Available Borrowing Capacity Weighted Average Interest Rate - End of Year September 30, 2024 AmeriGas OLP (a) August 2029 $ 200 $ 51 $ — $ 149 7.29 % UGI International, LLC (b) March 2028 € 500 € 115 € — € 385 4.88 % Energy Services (c) May 2028 $ 300 $ — $ — $ 300 N.A. UGI Utilities (d) November 2028 $ 375 $ 190 $ — $ 185 5.92 % Mountaineer (e) December 2025 $ 150 $ 96 $ — $ 54 6.56 % UGI Corporation (f) August 2025 $ 300 $ 115 $ — $ 185 7.45 % September 30, 2023 AmeriGas OLP (a) September 2026 $ 600 $ — $ 2 $ 598 N.A. UGI International, LLC (b) March 2028 € 500 € 202 € — € 298 5.17 % Energy Services (c) March 2025 $ 260 $ 57 $ — $ 203 7.67 % UGI Utilities (d) June 2024 $ 425 $ 248 $ — $ 177 6.30 % Mountaineer (e) November 2024 $ 150 $ 84 $ — $ 66 6.68 % UGI Corporation (f) May 2025 $ 300 $ 283 $ — $ 17 7.80 % (a) In October 2024, AmeriGas OLP entered into the first amendment to the AmeriGas Senior Secured Revolving Credit Facility which increased the total commitments to $300. At September 30, 2024 the AmeriGas Senior Secured Revolving Credit Facility includes a $20 sublimit for letters of credit. The maximum amount available for borrowing at any time under the AmeriGas Senior Secured Revolving Credit Facility is limited to the borrowing base valuation, as defined by the agreement. At September 30, 2023 the 2022 AmeriGas OLP Credit Agreement included a $100 sublimit for letters of credit. (b) Permits UGI International, LLC or UGI International Holdings B.V. to borrow in euros or USD. (c) The Energy Services Credit Agreement includes a $50 sublimit for letters of credit and is guaranteed by certain subsidiaries of Energy Services. (d) The UGI Utilities 2023 Credit Agreement includes a $50 sublimit for letters of credit. On November 9, 2023, UGI Utilities entered into the UGI Utilities 2023 Credit Agreement and concurrently terminated the UGI Utilities Credit Agreement, a predecessor agreement, which included a $100 sublimit for letters of credit. (e) The Mountaineer 2023 Credit Agreement includes a $20 sublimit for letters of credit. (f) Because management intends to maintain a substantial portion of its revolving credit facility borrowings on a long-term basis, such borrowings, (other than amounts repaid subsequent to the balance sheet date but prior to the issuance of the financial statements) are classified as “Long-term debt” on the Consolidated Balance Sheets. Amounts outstanding under UGI’s revolving credit facility at September 30, 2024 were repaid in October 2024 with proceeds from the issuance of the UGI Corporation 2025 Credit Agreement revolving credit facility and have been classified as long-term debt as of September 30, 2024, based on the Company’s intent and ability to refinance the obligation with long-term debt issued under the UGI Corporation 2025 Credit Agreement. N.A. - Not applicable Energy Services Receivables Facility. Energy Services has a Receivables Facility with an issuer of receivables-backed commercial paper. On October 18, 2024, the expiration date of the Receivables Facility was extended to October 17, 2025. The Receivables Facility provides Energy Services with the ability to borrow up to $150 of eligible receivables during the period October 18, 2024 to April 30, 2025, and up to $75 of eligible receivables during the period May 1, 2025 to October 17, 2025, with the option to request an increase of $50. The interest rate of the Receivables Facility was replaced with a SOFR based interest rate effective with the extension on October 18, 2024. Energy Services uses the Receivables Facility to fund working capital, margin calls under commodity futures contracts, capital expenditures, dividends and for general corporate purposes. 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, 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 major bank. Amounts sold to the bank are reflected as “Short-term borrowings” on the Consolidated Balance Sheets. 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 bank remain on the Company’s balance sheet and the Company reflects a liability equal to the amount advanced by the bank. The Company records interest expense on amounts owed to the bank. Energy Services continues to service, administer and collect trade receivables on behalf of the bank, as applicable. Information regarding the amounts of trade receivables transferred to ESFC and the amounts sold to the bank are as follows: 2024 2023 2022 Trade receivables transferred to ESFC during the year $ 1,324 $ 1,946 $ 2,221 ESFC trade receivables sold to the bank during the year $ 336 $ 535 $ 152 ESFC trade receivables - end of year (a) $ 51 $ 62 $ 101 (a) At September 30, 2024, there were no ESFC trade receivables sold to the bank. At September 30, 2023 there were $46 of ESFC trade receivables sold to the bank and is reflected as “Short-term borrowings” on the Consolidated Balance Sheets. Long-term Debt Long-term debt comprises the following at September 30: 2024 2023 Utilities: UGI Utilities Senior Notes: 4.12% due September 2046 $ 200 $ 200 4.98% due March 2044 175 175 3.12% due April 2050 150 150 4.55% due February 2049 150 150 4.12% due October 2046 100 100 6.21% due September 2036 100 100 2.95% due June 2026 100 100 1.59% due June 2026 100 100 1.64% due September 2026 75 75 4.75% due July 2032 90 90 4.99% due September 2052 85 85 6.02% due November 2030 25 — 6.10% due November 2033 150 — 6.40% due November 2053 75 — UGI Utilities Medium-Term Notes: 6.13% due October 2034 20 20 6.50% due August 2033 20 20 Mountaineer senior notes (a) 196 199 UGI Utilities variable-rate term loan due through July 2027 (b) 83 89 Other 2 2 Unamortized debt issuance costs (7) (6) Total Utilities 1,889 1,649 Midstream & Marketing: Energy Services variable-rate term loan due through February 2030 (c) 786 794 Other 41 41 Unamortized discount and debt issuance costs (13) (15) Total Midstream & Marketing 814 820 UGI International: 2.50% Senior Notes due December 2029 446 424 UGI International, LLC variable-rate term loan due March 2028 (d) 335 317 Other 12 6 Unamortized debt issuance costs (6) (8) Total UGI International 787 739 AmeriGas Propane: AmeriGas Partners Senior Notes: 5.50% due May 2025 218 700 5.875% due August 2026 664 675 5.75% due May 2027 512 525 9.375% due May 2028 493 500 Unamortized debt issuance costs (10) (15) Total AmeriGas Propane 1,877 2,385 UGI Corporation: UGI Corporation Credit Facilities: UGI Corporation revolving credit facility maturing August 2025 (e) 115 283 UGI Corporation variable-rate term loan due August 2025 (f) 300 300 UGI Corporation variable-rate term loan due through August 2025 (g) — 212 UGI Corporation variable-rate term loan due August 2025 (h) 215 215 UGI Corporation senior notes due June 2028 700 — Unamortized debt issuance costs (19) (3) Total UGI Corporation 1,311 1,007 Total long-term debt 6,678 6,600 Less: current maturities (235) (57) Total long-term debt due after one year $ 6,443 $ 6,543 (a) Total long-term debt at September 30, 2024 and 2023, comprises $180 principal amount of Mountaineer senior secured notes plus unamortized premium of $16 and $19, respectively. The face interest rates on the Mountaineer senior notes range from 3.50% to 4.49%, with maturities ranging from 2027 to 2052. (b) At September 30, 2024 and 2023, the effective interest rate on this term loan was 3.92%. We have entered into a pay-fixed, receive-variable interest rate swap to effectively fix the underlying variable rate at approximately 2.82% on a portion of these borrowings through June 2026. Term loan borrowings are due in equal quarterly installments of $2, with the balance of the principal being due in full at maturity. (c) At September 30, 2024 and 2023, the effective interest rates on the term loan were 7.09% and 7.82%, respectively. We have entered into a pay-fixed, receive-variable interest rate swap to effectively fix a substantial portion of the underlying variable rate at 4.53% on these borrowings through September 2026. Term loan borrowings are due in equal quarterly installments of $2, with the balance of the principal being due in full at maturity. Under certain circumstances, Energy Services is required to make additional principal payments if the consolidated total leverage ratio, as defined, is greater than defined thresholds. This term loan is collateralized by substantially all of the assets of Energy Services, subject to certain exceptions and carveouts including, but not limited to, accounts receivable and certain real property. (d) At September 30, 2024, the effective interest rate on the term loan was 4.95%. We have entered into a pay-fixed, receive-variable interest rate swap that fixes the underlying variable rate at 3.10% through March 2026. (e) At September 30, 2024 and 2023, the effective interest rates on credit facility borrowings were 7.45% and 7.80%, respectively. (f) At September 30, 2024 and 2023, the effective interest rates on the term loan were 6.09% and 2.77%, respectively. We have entered into pay-fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate at approximately 3.61% on these borrowings through September 2027. (g) At September 30, 2023 the effective interest rate on the term loan was 7.79%. The term loan was repaid early in June 2024. (h) At September 30, 2024 and 2023, the effective interest rates on the term loan were 6.75% and 4.73%, respectively. We have entered into pay-fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate at approximately 3.61% on a portion of these borrowings through September 2027. Scheduled principal repayments of long-term debt for each of the next five fiscal years ending September 30 are as follows: 2025 2026 2027 2028 2029 Utilities $ 7 $ 281 $ 64 $ 40 $ — Midstream & Marketing 8 8 8 8 8 UGI International 2 2 2 336 2 AmeriGas Propane 218 664 512 493 — UGI Corporation (a) — — — 700 — Total $ 235 $ 955 $ 586 $ 1,577 $ 10 (a) Subsequent to September 30, 2024, UGI entered into the UGI Corporation 2025 Credit Agreement, consisting of (1) a $475 revolving credit facility, including a $10 sublimit for letters of credit, scheduled to expire in October 2028 and (2) a $400 variable-rate term loan, schedule to mature in October 2027 and concurrently paid in full and terminated its existing UGI Corporation Credit Facility Agreement which was set to mature August 29, 2025. At September 30, 2024, borrowings outstanding under the credit facility due August 29, 2025, were classified as long-term debt based on the Company’s intent and ability to refinance the obligation with long-term debt. Restrictive Covenants Our long-term debt and credit facility agreements generally contain customary covenants and default provisions which may include, among other things, restrictions on the incurrence of additional indebtedness and also restrict liens, guarantees, investments, loans and advances, payments, mergers, consolidations, asset transfers, transactions with affiliates, sales of assets, acquisitions and other transactions. These agreements contain standard provisions which require compliance with certain financial ratios. Certain of the subsidiaries nonrecourse debt agreements contain cross-default provisions, whereby default under an agreement with one lender simultaneously causes default under agreements with other lenders. In addition, under the default provisions, a default of a subsidiary results in or is at risk of triggering a cross-default under the debt of the parent company. UGI and its subsidiaries were in compliance with all debt covenants as of September 30, 2024. Restricted Net Assets At September 30, 2024, the amount of net assets of UGI’s consolidated subsidiaries that were restricted from transfer to UGI under debt agreements, subsidiary partnership agreements and regulatory requirements under foreign laws totaled approximately $3,500.

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 7 — Income Taxes Income (loss) before income taxes comprises the following: 2024 2023 2022 Domestic $ 305 $ (346) $ 362 Foreign 35 (1,491) 1,025 Total income (loss) before income taxes $ 340 $ (1,837) $ 1,387 The provisions for income taxes consist of the following: 2024 2023 2022 Current expense (benefit): Federal $ (25) $ (1) $ 24 State 12 37 18 Foreign 32 49 50 Total current expense 19 85 92 Deferred expense (benefit): Federal 82 34 45 State 34 (21) (17) Foreign (64) (433) 193 Total deferred expense (benefit) 52 (420) 221 Total income tax expense (benefit) $ 71 $ (335) $ 313 Federal income taxes for Fiscal 2024, Fiscal 2023 and Fiscal 2022 are net of foreign tax credits of $17, $25, and $5, respectively. A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows: 2024 2023 2022 U.S. federal statutory tax rate 21.0 % 21.0 % 21.0 % Difference in tax rate due to: Goodwill impairment not deductible for tax 11.6 (7.3) — State income taxes, net of federal benefit 6.8 (1.7) 2.3 Investment tax credits (6.8) 0.5 — Valuation allowance adjustments (6.3) 1.1 (0.5) Regulated entity depreciation normalization (4.5) 0.7 (0.8) Notional interest deduction (3.8) 0.7 (0.9) Effects of tax rate changes – State, net of federal benefit 3.6 0.2 (1.4) State NOL adjustment upon disposition 2.4 — — Uncertain tax positions (2.4) (0.7) — Impairment of equity investment 2.2 — — Federal refund interest accrual (1.1) — — Effects of foreign operations 0.1 3.1 5.3 Effects of tax rate changes - International — — (2.3) Other, net (1.9) 0.6 (0.1) Effective tax rate 20.9 % 18.2 % 22.6 % In July 2022, tax legislation was enacted in Pennsylvania reducing the state’s corporate net income tax rate from 9.99% to 4.99% over a nine-year period, beginning with an initial reduction to 8.99% beginning in Fiscal 2024. The legislation resulted in $12 tax expense and $4 of tax benefits being recorded in Fiscal 2024 and Fiscal 2023, respectively, based on the Company’s analysis of future reversals of net deferred tax liabilities. Federal refund claims of $56 and $36 are included in “Income taxes receivable” on the Consolidated Balance Sheet at September 30, 2024 and 2023, respectively. $36 of refund claims at September 30, 2024 and 2023 are related to Fiscal 2021 federal net operating losses carried back to Fiscal 2016 under CARES legislation enacted in 2020. The CARES refund claim is under Joint Committee review. Our effective tax rate is subject to the impact of changes to the taxation of foreign source income made by the TCJA and the high tax exception regulations issued in July 2020. Income tax expense for Fiscal 2024, Fiscal 2023 and Fiscal 2022 includes $2, $13, and $3, respectively, of GILTI taxes that are treated as current period costs and carry no related deferred taxes. Pennsylvania and West Virginia utility ratemaking practices permit the flow through to ratepayers of state tax benefits resulting from accelerated tax depreciation. For Fiscal 2024, Fiscal 2023 and Fiscal 2022, the beneficial effects of state tax flow through of accelerated depreciation reduced income tax expense by $12, $11, and $10, respectively. Deferred tax liabilities (assets) comprise the following at September 30: 2024 2023 Excess book basis over tax basis of property, plant and equipment $ 994 $ 966 Intangible assets and goodwill 86 81 Utility regulatory assets 74 84 Investment in AmeriGas Partners 31 — Derivative instrument assets — 19 Other 50 37 Gross deferred tax liabilities 1,235 1,187 Interest expense (118) (83) Operating loss carryforwards (72) (75) Utility regulatory liabilities (72) (83) Foreign tax credit carryforwards (49) (64) Employee-related benefits (33) (37) Investment tax credits (26) — Utility environmental liabilities (16) (15) Pension plan liabilities (8) (14) Derivative instrument liabilities (3) — Investment in AmeriGas Partners — (28) Other (58) (58) Gross deferred tax assets (455) (457) Deferred tax assets valuation allowance 130 141 Net deferred tax liabilities $ 910 $ 871 At September 30, 2024, we carried foreign net operating loss carryforwards of $9 relating to Flaga, $22 at certain subsidiaries of UGI France, $8 relating to Belgium, and $66 in the Netherlands with no expiration dates. We have state net operating loss carryforwards primarily relating to certain subsidiaries that approximate $1,223 and expire through 2044. We also have federal operating loss carryforwards of $4 for certain operations of AmeriGas Propane. At September 30, 2024, deferred tax assets relating to operating loss carryforwards amounted to $72 related to various UGI subsidiaries. Valuation allowances against deferred tax assets exist for foreign tax credit carryforwards, net operating loss carryforwards of foreign subsidiaries, capital loss carryforwards and a notional interest deduction. The valuation allowance for all deferred tax decreased $11 in Fiscal 2024, which included a decrease of $22 against the notional interest deduction, $4 against capital losses and $1 against FTC’s offset by a $5 increase against Foreign net operating losses and $11 against disallowed interest expense. The valuation allowance for all deferred tax remained the same in Fiscal 2023, which included an increase of $19 for disallowed interest, an increase of $11 for foreign net operating losses, $5 for a notional interest deduction and $3 from state tax rate decreases were offset by $22 decrease against capital losses and a $16 decrease against FTC’s. We conduct business and file tax returns in the U.S., and various local, state and foreign jurisdictions. Our U.S. federal income tax returns are settled through the 2020 tax year, and our European tax returns are effectively settled for various years from 2016 to 2020. 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. The Company’s unrecognized tax benefits including amounts related to accrued interest, which if subsequently recognized would be recorded as a benefit to income taxes, amounted to $18, $26, and $5 at September 30, 2024, 2023 and 2022, respectively. 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. The expected change in unrecognized tax benefits and related interest in the next twelve months as the result of the expiration of certain statutes is not material. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: 2024 2023 2022 Unrecognized tax benefits — beginning of year $ 26 $ 5 $ 3 Additions for tax positions of the current year 4 3 2 Decreases for tax positions taken in prior years (11) — — Increases for tax positions taken in prior years — 19 1 Settlements with tax authorities/statute lapses (1) (1) (1) Unrecognized tax benefits — end of year $ 18 $ 26 $ 5

Employee Retirement Plans

Employee Retirement Plans	12 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Employee Retirement Plans	Note 8 — Employee Retirement Plans Defined Benefit Pension and Other Postretirement Plans The U.S. Pension Plans consist of (1) a defined benefit pension plan for employees hired prior to January 1, 2009, of UGI, UGI Utilities, and certain of UGI’s other domestic wholly owned subsidiaries and (2) a defined benefit pension plan for Mountaineer employees hired prior to January 1, 2023. U.S. Pension Plans’ benefits are based on years of service, age and employee compensation. In addition, certain UGI International employees in France and Belgium are covered by defined benefit pension and postretirement plans. Although the disclosures in the tables below include amounts related to the UGI International plans, such amounts are not material. We also provide postretirement health care benefits to certain retirees and postretirement life insurance benefits to certain U.S. active and retired employees. The ABOs of our other postretirement benefit plans were $24 and $21 as of September 30, 2024 and 2023, respectively. The fair values of the plan assets of our other postretirement benefit plans was $22 and $18 as of September 30, 2024 and 2023, respectively. The following table provides a reconciliation of the PBOs of our pension plans (the U.S. Pension Plans and the UGI International pension plans), plan assets, and the related funded status of our pension plans as of September 30, 2024 and 2023. 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 Benefits 2024 2023 Change in benefit obligations: Benefit obligations — beginning of year $ 623 $ 633 Service cost 8 9 Interest cost 36 35 Actuarial loss (gain) 76 (20) Foreign currency 2 2 Benefits paid (38) (36) Benefit obligations — end of year (a) $ 707 $ 623 Change in plan assets: Fair value of plan assets — beginning of year $ 556 $ 541 Actual gain (loss) on plan assets 118 31 Foreign currency 1 1 Employer contributions 19 19 Benefits paid (37) (36) Fair value of plan assets — end of year $ 657 $ 556 Funded status of the plans — end of year (b) $ (50) $ (67) Amounts recorded in UGI Corporation stockholders’ equity (pre-tax): Prior service cost $ 3 $ 3 Net actuarial gain (9) (17) Total $ (6) $ (14) Amounts recorded in regulatory assets and liabilities (pre-tax): Net actuarial loss $ 106 $ 110 Total $ 106 $ 110 (a) The ABOs of the U.S. Pension Plans were $633 and $558 as of September 30, 2024 and 2023, respectively. (b) Amounts are reflected in “Other noncurrent liabilities” and “Other assets” on the Consolidated Balance Sheets. Amounts reflected in “Other assets” are not material. In Fiscal 2024 and Fiscal 2023, the changes in the pension plans’ PBOs due to actuarial gains and losses are principally the result of changes in discount rates. Actuarial assumptions for our U.S. Pension Plans are described below. 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 current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below). Pension Plans 2024 2023 2022 Weighted-average assumptions: Discount rate – benefit obligations 5.05 % 6.09 % 5.70 % Discount rate – benefit cost 6.09 % 5.70 % 3.13 % Expected return on plan assets 7.50 % 7.50 % 7.10 % Rate of increase in salary levels 3.25 % 3.25 % 3.25 % The service cost component of our pension and other postretirement plans, net of amounts capitalized, is reflected in “Operating and administrative expenses” on the Consolidated Statements of Income. The non-service cost components, net of amounts capitalized by Utilities as a regulatory asset, are reflected in “Other non-operating (expense) income, net” on the Consolidated Statements of Income. Other postretirement benefit cost was not material for all periods presented. Net periodic pension (income) cost includes the following components: Pension Benefits 2024 2023 2022 Service cost $ 8 $ 9 $ 16 Interest cost 36 35 26 Expected return on assets (44) (45) (50) Amortization of: Actuarial loss (gain) 1 (3) 7 Net benefit cost (income) $ 1 $ (4) $ (1) It is our general policy to fund amounts for U.S. Pension Plans 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 2024, Fiscal 2023 and Fiscal 2022, we made cash contributions to the U.S. Pension Plans of $18 , $18 and $14, respectively. The minimum required contributions to the U.S. Pension Plans in Fiscal 2025 are not expected to be material. UGI Utilities has established a VEBA trust to pay certain retiree health care and life insurance benefits by depositing into the VEBA the annual amount of postretirement benefits costs, if any. Assets associated with the VEBA are not material and we do not expect to be required to make any contributions to the VEBA during Fiscal 2025. Expected payments for postretirement benefits over the next 10 years are not material. Expected payments for pension benefits are as follows: Pension Fiscal 2025 $ 40 Fiscal 2026 $ 41 Fiscal 2027 $ 44 Fiscal 2028 $ 46 Fiscal 2029 $ 49 Fiscal 2030 - 2034 $ 242 We also sponsor unfunded and non-qualified supplemental executive defined benefit retirement plans. At September 30, 2024 and 2023, the PBOs of these plans, including obligations for amounts held in grantor trusts, totale d $40 and $34, respectively. Costs associated with these plans and amounts recorded in UGI’s stockholder’s equity representing actuarial gains and losses were not material for all periods presented and are excluded from the tables above. During Fiscal 2024, Fiscal 2023, and Fiscal 2022, the payments the Company made with respect to the supplemental executive defined benefit retirement plans were not material . The total fair value of the grantor trust investment assets associated with the supplemental executive defined benefit retirement plans, which are included in “Other assets” on the Consolidated Balance Sheets, totaled $31 and $26 at September 30, 2024 and 2023, respectively. U.S. Pension Plans’ Assets The assets of the U.S. Pension Plans are held in trust. The investment policies and asset allocation strategies for the assets in these trusts are determined by the Retirement Plan Committee comprising certain members of UGI’s senior management. The overall investment objective is to minimize projected funded status volatility by more closely aligning the duration of the U.S. Pension Plans’ fixed income portfolio to the duration of its liabilities. The proportion of plan assets allocated to fixed income investments will increase as the funded status increases. Investments are made principally in common collective trust funds that consist of equity investments, bond investments and short-term cash investments, and, to a much less extent, UGI Common Stock and alternative investments. The targets and actual allocations for the U.S. Pension Plans’ trust assets at September 30 are as follows: Actual Target Asset Allocation (a) 2024 2023 2024 2023 Equity investments 52.4 % 61.4 % 53.2 % 61.6 % Fixed income funds & cash equivalents 44.9 % 35.5 % 43.4 % 35.0 % Alternative investments 2.7 % 3.1 % 3.4 % 3.4 % Total 100.0 % 100.0 % 100.0 % 100.0 % (a) There is a permitted range for the allocation of the trust assets for the U.S. Pension Plans which is 5% less than and greater than the target allocation. Common collective trust funds in the U.S. Pension Plans primarily include investments in U.S., Non-U.S. and global (a mix of U.S. and Non-U.S.) equities, fixed income and short-term cash investments. The fair values of common collective trust funds and cash equivalents are valued at the NAV of units of the collective trusts. The NAVs, as provided by the trustee, are used as a practical expedient to estimate fair value based on the fair values of the underlying investments held by the funds less their liabilities. The fair values of the U.S. Pension Plans trust assets by asset class as of September 30, 2024 and 2023 are as follows: 2024 2023 U.S. Pension Plans: Domestic equity investments: UGI Corporation Common Stock $ 20 $ 19 Total domestic equity investments (a) 20 19 Common collective trust funds: U.S. equity index investments 188 120 Non-U.S. equity index investments 96 117 Global equity index investments 29 75 Bond index investments 274 183 Cash equivalents 11 8 Total common collective trust funds (b) 598 503 Alternative investments (b) 17 17 Total $ 635 $ 539 (a) Level 1 investments within the fair value hierarchy. (b) Assets measured at NAV and therefore excluded from the fair value hierarchy. The expected long-term rates of return on U.S. Pension Plans’ 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 $23 in Fiscal 2024, $22 in Fiscal 2023 and $21 in Fiscal 2022. 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 IRC. The Company makes payments to self-directed grantor trusts with respect to these supplemental defined contribution plans. Such payments during Fiscal 2024, Fiscal 2023 and Fiscal 2022 were not material. At September 30, 2024 and 2023, the total fair values of these grantor trust investment assets, which amounts are included in “Other assets” on the Consolidated Balance Sheets, were $8 and $9, respectively.

Utility Regulatory Assets and L

Utility Regulatory Assets and Liabilities and Regulatory Matters	12 Months Ended
	Sep. 30, 2024
Regulated Operations [Abstract]
Utility Regulatory Assets and Liabilities and Regulatory Matters	Note 9 — Utility Regulatory Assets and Liabilities and Regulatory Matters The following regulatory assets and liabilities associated with our Utilities reportable segment are included in our Consolidated Balance Sheets at September 30: 2024 2023 Regulatory assets (a): Income taxes recoverable $ 105 $ 94 Underfunded pension plans 106 111 Environmental costs 28 28 Deferred fuel and power costs — 27 Removal costs, net 28 23 Other 52 64 Total regulatory assets $ 319 $ 347 Regulatory liabilities (a): Postretirement benefits $ 13 $ 12 Deferred fuel and power refunds 17 55 State income tax benefits — distribution system repairs 44 43 Excess federal deferred income taxes 247 254 Other 8 2 Total regulatory liabilities $ 329 $ 366 (a) Current regulatory assets are recorded in “Other current assets” on the Consolidated Balance Sheets. Regulatory liabilities are recorded in “Other current liabilities” and “Other noncurrent liabilities” on the Consolidated Balance Sheets. Other than removal costs, Utilities currently does not recover a rate of return on the regulatory assets included in the table above. 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 the tax benefit on 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 65 years. Underfunded pension plans . This regulatory asset represents the portion of net actuarial losses and prior service costs (credits) associated with Gas Utility and Electric Utility pension 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 remeasured. These costs are amortized over the average remaining future service lives of plan participants. Environmental costs . Environmental costs principally represent estimated probable future environmental remediation and investigation costs that PA Gas Utility expects to incur, primarily at MGP sites in Pennsylvania, in conjunction with a remediation COA with the PADEP. Pursuant to base rate orders, PA Gas Utility receives ratemaking recognition of its estimated environmental investigation and remediation costs associated with its environmental sites. This ratemaking recognition balances the accumulated difference between historical costs and rate recoveries with an estimate of future costs associated with the sites. The period over which PA Gas Utility expects to recover these costs will depend upon future remediation activity. For additional information on environmental costs, see Note 16. Removal costs, net . This regulatory asset represents costs incurred, net of salvage, associated with the retirement of depreciable utility plant of UGI Utilities. As required by PAPUC ratemaking, removal costs include actual costs incurred associated with asset retirement obligations. Consistent with prior ratemaking treatment, UGI Utilities expects to recover these costs over five years. Postretirement benefits . This regulatory liability represents the difference between amounts recovered through rates by PA Gas Utility and Electric Utility and actual costs incurred in accordance with accounting for postretirement benefits. A portion of this liability will be refunded to customers over the average remaining future service lives of plan participants. Another portion of this liability represents overcollections for which refund periods have been established within ratemaking proceedings. With respect to Gas Utility, postretirement benefit overcollections are generally being refunded to customers over a ten-year period beginning October 19, 2016. With respect to Electric Utility, the overcollections are being refunded to ratepayers over a 20-year period effective October 27, 2018. Deferred fuel and power - costs and refunds. Utilities’ tariffs contain clauses that permit recovery of all prudently incurred purchased gas and power costs through the application of PGC rates, PGA rates and DS tariffs. These clauses provide for periodic adjustments to PGC, PGA and DS rates for differences between the total amount of purchased gas and electric generation supply costs billed to customers and recoverable costs incurred. Net underbilled costs are classified as a regulatory asset and net overbillings are classified as a regulatory liability. Mountaineer uses fixed-price contracts to reduce volatility in the cost of gas it purchases for retail core-market customers. To lower winter bills for residential customers, the WVPSC removed transportation and storage costs from the volumetric rate and created a fixed monthly pipeline demand charge applicable only to residential customers effective December 1, 2022. PA Gas Utility uses derivative instruments to reduce volatility in the cost of gas it purchases for retail core-market customers. Realized and unrealized gains or losses on natural gas derivative instruments are included in deferred fuel and power costs or refunds. Net unrealized gains (losses) on such contracts at September 30, 2024 and 2023 were $2 and $(2), respectively. State income tax benefits — distribution system repairs. This regulatory liability represents Pennsylvania state income tax benefits, net of federal benefit, resulting from the deduction for income tax purposes of repair and maintenance costs associated with UGI Utilities’ assets that 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. Excess federal deferred income taxes. This regulatory liability is the result of remeasuring Utilities’ federal deferred income tax liabilities on utility plant due to the enactment of the TCJA on December 22, 2017. In order for our utility assets to continue to be eligible for accelerated tax depreciation, current law requires that excess federal deferred income taxes resulting from the remeasurement be amortized no more rapidly than over the remaining lives of the assets that gave rise to the excess federal deferred income taxes, ranging from 1 year to approximately 65 years. This regulatory liability has been increased to reflect the tax benefit generated by the amortization of the excess deferred federal income taxes and is being amortized and credited to tax expense. Other . Other regulatory assets and liabilities comprise a number of deferred items including, among others, certain fair value adjustments related to the Mountaineer Acquisition, certain information technology costs, energy efficiency conservation costs and rate case expenses. Other Regulatory Matters UGI Utilities. On January 27, 2023, Electric Utility filed a request with the PAPUC to increase its annual base distribution revenues by $11. On September 21, 2023, the PAPUC issued a final order approving a settlement providing for a $9 annual base distribution rate increase for Electric Utility, effective October 1, 2023. On January 28, 2022, PA Gas Utility filed a request with the PAPUC to increase its base operating revenues for residential, commercial and industrial customers by $83 annually. On September 15, 2022, the PAPUC issued a final order approving a settlement providing for a $49 annual base distribution rate increase for PA Gas Utility, through a phased approach, with $38 beginning October 29, 2022 and an additional $11 beginning October 1, 2023. In accordance with the terms of the final order, PA Gas Utility was not permitted to file a rate case prior to January 1, 2024. Also in accordance with the terms of the final order, PA Gas Utility was authorized to implement a weather normalization adjustment rider as a five-year pilot program beginning on November 1, 2022. Under this rider, when weather deviates from normal by more than 3%, residential and small commercial customer billings for distribution services are adjusted monthly for weather related impacts exceeding the 3% threshold. Additionally, under the terms of the final order, PA Gas Utility was authorized to implement a DSIC once its total property, plant and equipment less accumulated depreciation reached $3,368 (which threshold was achieved in September 2022). Mountaineer. On July 31, 2024, Mountaineer submitted its 2024 IREP filing to the WVPSC requesting recovery of $19, which includes $3 of prior year under-recovery, for costs associated with capital investments after December 31, 2022, that total $197, including $74 in calendar year 2025. The filing included capital investments totaling $418 over the 2025 - 2029 period. On October 28, 2024, the WVPSC issued an order approving Mountaineer’s request. On July 31, 2023, Mountaineer submitted its 2023 IREP filing to the WVPSC requesting recovery of $10, an increase of $6, for costs associated with capital investments after December 31, 2022, that total $131, including $67 in calendar year 2024. With new base rates expected to be effective January 1, 2024, revenues from IREP rates would decrease by $12. The filing included capital investments totaling $383 over the 2024 - 2028 period. On December 20, 2023, the WVPSC issued a final order approving a settlement effective January 1, 2024. On March 6, 2023, Mountaineer submitted a base rate case filing with the WVPSC seeking a net revenue increase of $20, which consisted of an increase in base rates of $38 and a decrease in the IREP rates of $18 annually to be effective on April 5, 2023. On March 31, 2023, the WVPSC suspended the effective date of the requested rate change increase until January 1, 2024 to allow for a full review of the filing. On October 6, 2023, Mountaineer filed a joint stipulation and agreement for settlement of the base rate case, which included a $14 net revenue increase. On December 21, 2023, the WVPSC issued a final order approving the joint stipulation and agreement, except the WVPSC authorized Mountaineer to implement a weather normalization adjustment rider as a five-year pilot program beginning on October 1, 2024. The new rates went into effect on January 1, 2024. On April 11, 2024, the WVPSC approved the calculation methodology submitted by Mountaineer on March 28, 2024. Under this rider, when weather deviates from normal by more than 2%, for service rendered during the period October 1 through May 31, residential and small commercial customer billings for distribution services are adjusted for weather related impacts exceeding the 2% threshold.

Inventories

Inventories	12 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Note 10 — Inventories Inventories comprise the following at September 30: 2024 2023 Non-utility LPG and natural gas $ 195 $ 212 Gas Utility natural gas 50 55 Energy certificates 69 64 Materials, supplies and other 97 102 Total inventories $ 411 $ 433

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 11 — Property, Plant and Equipment Property, plant and equipment comprise the following at September 30: 2024 2023 Estimated Useful Life Utility: Distribution $ 5,595 $ 5,204 Transmission 125 123 General and other 706 660 Work in process 94 95 Total Utility 6,520 6,082 Non-utility: Land 172 174 Buildings and improvements 429 418 10 - 40 years Transportation equipment 233 238 3 - 10 years Equipment, primarily cylinders and tanks 3,985 3,903 5 - 30 years Electric generation 48 190 25 - 40 years Pipeline and related assets 1,598 1,577 25 - 40 years Other 430 390 1 - 12 years Work in process 258 156 Total non-utility 7,153 7,046 Total property, plant and equipment $ 13,673 $ 13,128 The average composite depreciation rates at our Gas Utility and Electric Utility were as follows: 2024 2023 2022 Regulated natural gas utilities 2.6 % 2.4 % 2.6 % Electric Utility 2.5 % 2.3 % 2.4 % Depreciation expense totaled $496, $476 and $460 for Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 12 — Goodwill and Intangible Assets Changes in the carrying amount of goodwill by reportable segment are as follows: Utilities Midstream & Marketing UGI International AmeriGas Total Balance September 30, 2022 $ 432 $ 336 $ 840 $ 2,004 $ 3,612 Impairment of goodwill — — — (656) (656) Acquisitions — — 3 — 3 Foreign currency translation — — 68 — 68 Balance September 30, 2023 432 336 911 1,348 3,027 Impairment of goodwill — — — (195) (195) Dispositions — — (12) — (12) Foreign currency translation — — 51 — 51 Balance September 30, 2024 $ 432 $ 336 $ 950 $ 1,153 $ 2,871 During the fourth quarter of Fiscal 2024, as part of its annual goodwill impairment assessment, the Company performed a quantitative assessment for its AmeriGas Propane reporting unit. In addition, during the third quarter of Fiscal 2023, the Company identified interim impairment indicators related to goodwill within the AmeriGas Propane reporting unit: (1) AmeriGas Partners issued $500 of Senior Notes at an interest rate of 9.375%, which was significantly higher than the interest rates on the other AmeriGas Propane debt obligations; and (2) financial projections for the AmeriGas Propane reporting unit were reduced significantly compared to previous forecasts following declines in gross margins and customer retention and higher operating expenses. The Company concluded that these events constituted triggering events that indicate that the AmeriGas Propane goodwill may be impaired and, as such, performed an interim impairment test of its goodwill as of May 31, 2023. Using level 3 inputs, we performed a quantitative assessment of the AmeriGas Propane reporting unit using a weighting of the income and market approaches to determine its fair value. With respect to the income approach, management used a discounted cash flow (“DCF”) method, using unobservable inputs. The significant assumptions in our DCF model include projected EBITDA and a discount rate (and estimates in the discount rate inputs). With respect to the market approach, management used recent transaction market multiples for similar companies in the U.S. The resulting estimates of fair value from the income approach and the market approach were then weighted equally in determining the overall estimated fair value of AmeriGas Propane. Based on our evaluations in Fiscal 2024 and Fiscal 2023, the estimated fair value of the AmeriGas Propane reporting unit was determined to be less than its carrying value. As a result, the Company recorded a non-cash pre-tax goodwill impairment charge of $195 and $656 in Fiscal 2024 and Fiscal 2023, respectively, included in “Impairment of goodwill” on the Consolidated Statements of Income, to reduce the carrying value of AmeriGas Propane to its fair value. The Company calculated the deferred tax effect using the simultaneous equation method. The performance of the AmeriGas Propane reporting unit and the potential for future developments in the global economic environment, including the prospect of higher interest rates, introduces a heightened risk for additional impairment in the AmeriGas Propane reporting unit. If there is continued deterioration in the results of operations, a portion or all of the remaining recorded goodwill for the AmeriGas Propane reporting unit, which was $1.2 billion as of September 30, 2024, could be subject to further impairment. Intangible assets comprise the following at September 30: 2024 2023 Customer relationships $ 985 $ 977 Trademarks and tradenames 4 4 Noncompete agreements and other 27 26 Accumulated amortization (665) (602) Intangible assets, net (definite-lived) 351 405 Trademarks and tradenames (indefinite-lived) 40 38 Total intangible assets, net $ 391 $ 443 During Fiscal 2023, the Company recognized a $10 non-cash, pre-tax impairment charge related to customer relationships intangible assets and indefinite-lived tradenames at DVEP in connection with the wind-down of the energy marketing business in the Netherland s (see Note 5). These charges are reflected in “Operating and administrative expenses” on the Consolidated Statements of Income. Amortization expense of intangible assets wa s $55, $56 and $61 for Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively. Estimated amortization expense of intangible assets during the next five fiscal years is as follows: Fiscal 2025 — $52; Fiscal 2026 — $50; Fiscal 2027 — $27; Fiscal 2028 — $17; Fiscal 2029 — $16.

Equity

Equity	12 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Equity	Note 13 — Equity On February 2, 2022, UGI’s Board of Directors authorized an extension of an existing share repurchase program for up to 8,000,000 shares of UGI Corporation Common Stock for an additional four-year period, expiring February 2026. In Fiscal 2024, there were no share repurchases made under the program. During Fiscal 2023 and Fiscal 2022, the Company purchased and placed in treasury stock 600,000 shares and 900,000 shares at a total cost of $22 and $38, respectively. UGI Preferred Stock and Common Stock share activity for Fiscal 2024, Fiscal 2023 and Fiscal 2022 is as follows: Preferred Stock Common Stock Issued/Outstanding Issued Treasury Outstanding Balance at September 30, 2021 220,000 209,843,296 (627,161) 209,216,135 Issued: Employee and director plans — 717,198 799,152 1,516,350 Repurchases of common stock — — (900,000) (900,000) Reacquired common stock – employee and director plans — — (250,273) (250,273) Balance at September 30, 2022 220,000 210,560,494 (978,282) 209,582,212 Issued: Employee and director plans — 345,558 167,313 512,871 Repurchases of common stock — — (600,000) (600,000) Balance at September 30, 2023 220,000 210,906,052 (1,410,969) 209,495,083 Issued: Settlement of Equity Units (220,000) 5,054,030 — 5,054,030 Employee and director plans — 164,250 (27,751) 136,499 Balance at September 30, 2024 — 216,124,332 (1,438,720) 214,685,612 UGI has 5,000,000 shares of UGI Series Preference Stock authorized for issuance. UGI had no shares of UGI Series Preference Stock outstanding at September 30, 2024 and 220,000 Series A shares outstanding at September 30, 2023. Equity Units On May 25, 2021, the Company issued 2.2 million Equity Units with a total notional value of $220. Each Equity Unit has a stated amount of $100 and consists of (i) a 10% undivided beneficial ownership interest in one share of Convertible Preferred Stock with a liquidation preference of $1,000 per share and (ii) a 2024 Purchase Contract. The Company received approximately $213 of proceeds from the issuance of the Equity Units, net of offering expenses and underwriting costs and commissions, and issued 220,000 shares of Convertible Preferred Stock which was recorded in “Preferred stock” on the accompanying Consolidated Balance Sheet. The proceeds were used to pay a portion of the purchase price for the Mountaineer Acquisition and related fees and expenses, and for general corporate purposes. During the second quarter of Fiscal 2022, the Company reclassified certain amounts on the Consolidated Balance Sheet and Consolidated Statement of Changes in Equity related to the accounting for the Equity Units.

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Note 14 — Equity-Based Compensation The Company grants equity-based awards to employees and non-employee directors comprising UGI stock options and UGI Common Stock-based equity instruments. We recognized total pre-tax equity-based compensation expense of $8 ($6 after-tax), $17 ($13 after-tax) and $15 ($11 after-tax) in Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively. UGI Equity-Based Compensation Plans and Awards. On January 29, 2021, the Company’s shareholders approved the 2021 IAP. Under the 2021 IAP, awards representing up to 20,500,000 shares of UGI Common Stock may be granted. UGI Unit Awards granted to employees and non-employee directors, including dividend equivalents, are settled in shares of UGI Common Stock and cash. The 2021 IAP supersedes and replaces the 2013 OICP for awards granted on or after February 1, 2021. The terms and conditions of the 2013 OICP will continue to govern any outstanding awards granted thereunder. Similar to the 2013 OICP, under the 2021 IAP, we may grant options to acquire shares of UGI Common Stock, 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 2021 IAP 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. 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. There we re 15,293,516 s hares of Common Stock available for future grants under the 2021 IAP at September 30, 2024 . UGI Stock Option Awards . We measure the fair value of stock options using a Black-Scholes option pricing model that uses certain key assumptions for such options related to the expected life, volatility, dividend yield and the Company’s risk-free rate at the valuation date. The per share weighted average fair value of stock options granted under our option plans w as $4.17, $9.31 and $8.47 in Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively. As of September 30, 2024, there wa s $2 of unrecognized compensation cost associated with unvested stock options that is expected to be recognized over a weighted-average period of 1.8 years. There were 8,154,066 stock options outstanding at September 30, 2024, of which, 7,127,891 stock options were exercisable with a weighted-average option price of $42.94. UGI Unit Awards . Awards of UGI Stock Units and UGI Performance Units subject to market-based conditions entitle the grantee to shares of UGI Common Stock or cash once the service condition is met and, with respect to UGI Performance Unit subject to market-based conditions, subject to UGI’s TSR percentile rank relative to companies in the UGI comparator group. Recipients of UGI Performance Units subject to market-based conditions are awarded a target number of such awards. The number of UGI Performance Units subject to market-based conditions ultimately paid at the end of the performance period (generally 3 years) may be higher or lower than the target amount, or even zero Starting in Fiscal 2023, the Company granted UGI EPS Performance Unit awards. UGI EPS Performance Units entitle the grantee to shares of UGI Common Stock or cash once the service condition is met and subject to the achievement of a UGI EPS goal, which is a non-market performance condition. Recipients of UGI EPS Performance Units are awarded a target number of UGI EPS Performance Units. The number of UGI EPS Performance Units ultimately paid at the end of the service period (generally 3 years) may be higher or lower than the target amount, or even zero The fair value of UGI Stock Units on the grant date is equal to the market price of UGI Stock on the grant date plus the fair value of dividend equivalents if applicable. The fair value of UGI Performance Units is 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 fair value of UGI EPS Performance Units is equal to the market price of UGI stock on the grant date plus the fair value of dividend equivalents if applicable. The weighted-average grant date fair value of UGI Stock Units, UGI Performance Units and UGI EPS Performance Units granted to employees during Fiscal 2024, Fiscal 2023, and Fiscal 2022 was $28.91, $44.62 and $51.24, respectively. As of September 30, 2024, there was a total of $14 unrecognized compensation cost associated with UGI Unit awards outstanding that is expected to be recognized over a weighted-average per iod of 1.7 years. As of September 30, 2024, there were 1,223,190 UGI Unit awards outstanding with a weighted-average grant-date fair value of $36.16 pe r share.

Leases

Leases	12 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Note 15 — Leases Lessee We lease various buildings and other facilities, real estate, vehicles, rail cars and other equipment, the majority of which are operating leases. We determine if a contract is or contains a lease by evaluating whether the contract explicitly or implicitly identifies an asset, whether we have the right to obtain substantially all of the economic benefits of the identified leased asset and to direct its use. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. We recognize ROU assets at the lease commencement date at the value of the lease liability adjusted for any prepayments, lease incentives received, and initial direct costs incurred. Lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. These payments are discounted using the discount rate implicit in the lease, when available. We apply an incremental borrowing rate, which is developed utilizing a credit notching approach based on information available at the lease commencement date, to substantially all of our leases as the implicit rate is often not available. Lease expense is recognized on a straight-line basis over the expected lease term. Renewal and termination options are not included in the lease term unless we are reasonably certain that such options will be exercised. Leases with an original lease term of one year or less, including consideration of any renewal options assumed to be exercised, are not included in the Consolidated Balance Sheets. Certain lease arrangements, primarily fleet vehicle leases with lease terms of one Certain leasing arrangements require variable payments that are dependent on asset usage or are based on changes in index rates, such as the Consumer Price Index. The variable payments component of such leases cannot be determined at lease commencement and is not recognized in the measurement of ROU assets or lease liabilities, but is recognized in earnings in the period in which the obligation occurs. Sale-leaseback transaction. During the fourth quarter of Fiscal 2023, AmeriGas OLP completed a sale-leaseback transaction with an independent third party for the land, building and improvements of an office and service center located in Gardena, California. The office and service center was leased back to AmeriGas OLP under an operating lease agreement having an initial six-year term with an option to renew. In conjunction with the transaction, AmeriGas OLP received approximately $32 in cash proceeds which resulted in a pre-tax gain of $29, reflected in Other operating income, net on the Fiscal 2023 Consolidated Statement of Income. ROU assets and lease liabilities recorded in the Consolidated Balance Sheets as of September 30 are as follows: 2024 2023 Location on the Balance Sheet ROU assets: Operating lease ROU assets $ 417 $ 420 Other assets Finance lease ROU assets 54 50 Property, plant and equipment Total ROU assets $ 471 $ 470 Lease liabilities: Operating lease liabilities — current $ 86 $ 87 Other current liabilities Operating lease liabilities — noncurrent 343 340 Other noncurrent liabilities Finance lease liabilities — current 3 5 Current maturities of long-term debt Finance lease liabilities — noncurrent 52 45 Long-term debt Total lease liabilities $ 484 $ 477 The components of lease cost for Fiscal 2024, Fiscal 2023 and Fiscal 2022 are as follows: 2024 2023 2022 Operating lease cost $ 111 $ 104 $ 96 Finance lease cost: Amortization of ROU assets 4 3 4 Interest on lease liabilities 3 3 3 Variable lease cost 1 2 6 Short-term lease cost 10 4 2 Total lease cost $ 129 $ 116 $ 111 The following table presents the cash and non-cash activity related to lease liabilities included in the Consolidated Statements of Cash Flows during Fiscal 2024, Fiscal 2023 and Fiscal 2022: 2024 2023 2022 Cash paid related to lease liabilities: Operating cash flows — operating leases $ 109 $ 103 $ 95 Operating cash flows — finance leases $ 4 $ 3 $ 3 Financing cash flows — finance leases $ 2 $ 1 $ 2 Non-cash lease liability activities: ROU assets obtained in exchange for operating lease liabilities $ 84 $ 136 $ 72 ROU assets obtained in exchange for finance lease liabilities $ 7 $ 6 $ 2 The following table presents the weighted-average remaining lease term and weighted-average discount rate: Weighted-average remaining lease term (in years) 2024 2023 Operating leases 6.8 7.1 Finance leases 6.7 5.3 Weighted-average discount rate (%) 2024 2023 Operating leases 4.8% 4.5% Finance leases 6.9% 2.2% Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Consolidated Balance Sheet, as of September 30, 2024, were as follows: 2025 2026 2027 2028 2029 After 2029 Total Lease Payments Imputed Interest Lease Liabilities Operating leases $ 102 $ 88 $ 75 $ 63 $ 50 $ 122 $ 500 $ (71) $ 429 Finance leases $ 6 $ 6 $ 6 $ 5 $ 4 $ 76 $ 103 $ (48) $ 55 Approximately 80% of the operating lease liabilities presented above relate to AmeriGas Propane. At September 30, 2024, operating and finance leases that had not yet commenced were not material. Lessor
Leases	Note 15 — Leases Lessee We lease various buildings and other facilities, real estate, vehicles, rail cars and other equipment, the majority of which are operating leases. We determine if a contract is or contains a lease by evaluating whether the contract explicitly or implicitly identifies an asset, whether we have the right to obtain substantially all of the economic benefits of the identified leased asset and to direct its use. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. We recognize ROU assets at the lease commencement date at the value of the lease liability adjusted for any prepayments, lease incentives received, and initial direct costs incurred. Lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. These payments are discounted using the discount rate implicit in the lease, when available. We apply an incremental borrowing rate, which is developed utilizing a credit notching approach based on information available at the lease commencement date, to substantially all of our leases as the implicit rate is often not available. Lease expense is recognized on a straight-line basis over the expected lease term. Renewal and termination options are not included in the lease term unless we are reasonably certain that such options will be exercised. Leases with an original lease term of one year or less, including consideration of any renewal options assumed to be exercised, are not included in the Consolidated Balance Sheets. Certain lease arrangements, primarily fleet vehicle leases with lease terms of one Certain leasing arrangements require variable payments that are dependent on asset usage or are based on changes in index rates, such as the Consumer Price Index. The variable payments component of such leases cannot be determined at lease commencement and is not recognized in the measurement of ROU assets or lease liabilities, but is recognized in earnings in the period in which the obligation occurs. Sale-leaseback transaction. During the fourth quarter of Fiscal 2023, AmeriGas OLP completed a sale-leaseback transaction with an independent third party for the land, building and improvements of an office and service center located in Gardena, California. The office and service center was leased back to AmeriGas OLP under an operating lease agreement having an initial six-year term with an option to renew. In conjunction with the transaction, AmeriGas OLP received approximately $32 in cash proceeds which resulted in a pre-tax gain of $29, reflected in Other operating income, net on the Fiscal 2023 Consolidated Statement of Income. ROU assets and lease liabilities recorded in the Consolidated Balance Sheets as of September 30 are as follows: 2024 2023 Location on the Balance Sheet ROU assets: Operating lease ROU assets $ 417 $ 420 Other assets Finance lease ROU assets 54 50 Property, plant and equipment Total ROU assets $ 471 $ 470 Lease liabilities: Operating lease liabilities — current $ 86 $ 87 Other current liabilities Operating lease liabilities — noncurrent 343 340 Other noncurrent liabilities Finance lease liabilities — current 3 5 Current maturities of long-term debt Finance lease liabilities — noncurrent 52 45 Long-term debt Total lease liabilities $ 484 $ 477 The components of lease cost for Fiscal 2024, Fiscal 2023 and Fiscal 2022 are as follows: 2024 2023 2022 Operating lease cost $ 111 $ 104 $ 96 Finance lease cost: Amortization of ROU assets 4 3 4 Interest on lease liabilities 3 3 3 Variable lease cost 1 2 6 Short-term lease cost 10 4 2 Total lease cost $ 129 $ 116 $ 111 The following table presents the cash and non-cash activity related to lease liabilities included in the Consolidated Statements of Cash Flows during Fiscal 2024, Fiscal 2023 and Fiscal 2022: 2024 2023 2022 Cash paid related to lease liabilities: Operating cash flows — operating leases $ 109 $ 103 $ 95 Operating cash flows — finance leases $ 4 $ 3 $ 3 Financing cash flows — finance leases $ 2 $ 1 $ 2 Non-cash lease liability activities: ROU assets obtained in exchange for operating lease liabilities $ 84 $ 136 $ 72 ROU assets obtained in exchange for finance lease liabilities $ 7 $ 6 $ 2 The following table presents the weighted-average remaining lease term and weighted-average discount rate: Weighted-average remaining lease term (in years) 2024 2023 Operating leases 6.8 7.1 Finance leases 6.7 5.3 Weighted-average discount rate (%) 2024 2023 Operating leases 4.8% 4.5% Finance leases 6.9% 2.2% Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Consolidated Balance Sheet, as of September 30, 2024, were as follows: 2025 2026 2027 2028 2029 After 2029 Total Lease Payments Imputed Interest Lease Liabilities Operating leases $ 102 $ 88 $ 75 $ 63 $ 50 $ 122 $ 500 $ (71) $ 429 Finance leases $ 6 $ 6 $ 6 $ 5 $ 4 $ 76 $ 103 $ (48) $ 55 Approximately 80% of the operating lease liabilities presented above relate to AmeriGas Propane. At September 30, 2024, operating and finance leases that had not yet commenced were not material. Lessor
Leases	Note 15 — Leases Lessee We lease various buildings and other facilities, real estate, vehicles, rail cars and other equipment, the majority of which are operating leases. We determine if a contract is or contains a lease by evaluating whether the contract explicitly or implicitly identifies an asset, whether we have the right to obtain substantially all of the economic benefits of the identified leased asset and to direct its use. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. We recognize ROU assets at the lease commencement date at the value of the lease liability adjusted for any prepayments, lease incentives received, and initial direct costs incurred. Lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. These payments are discounted using the discount rate implicit in the lease, when available. We apply an incremental borrowing rate, which is developed utilizing a credit notching approach based on information available at the lease commencement date, to substantially all of our leases as the implicit rate is often not available. Lease expense is recognized on a straight-line basis over the expected lease term. Renewal and termination options are not included in the lease term unless we are reasonably certain that such options will be exercised. Leases with an original lease term of one year or less, including consideration of any renewal options assumed to be exercised, are not included in the Consolidated Balance Sheets. Certain lease arrangements, primarily fleet vehicle leases with lease terms of one Certain leasing arrangements require variable payments that are dependent on asset usage or are based on changes in index rates, such as the Consumer Price Index. The variable payments component of such leases cannot be determined at lease commencement and is not recognized in the measurement of ROU assets or lease liabilities, but is recognized in earnings in the period in which the obligation occurs. Sale-leaseback transaction. During the fourth quarter of Fiscal 2023, AmeriGas OLP completed a sale-leaseback transaction with an independent third party for the land, building and improvements of an office and service center located in Gardena, California. The office and service center was leased back to AmeriGas OLP under an operating lease agreement having an initial six-year term with an option to renew. In conjunction with the transaction, AmeriGas OLP received approximately $32 in cash proceeds which resulted in a pre-tax gain of $29, reflected in Other operating income, net on the Fiscal 2023 Consolidated Statement of Income. ROU assets and lease liabilities recorded in the Consolidated Balance Sheets as of September 30 are as follows: 2024 2023 Location on the Balance Sheet ROU assets: Operating lease ROU assets $ 417 $ 420 Other assets Finance lease ROU assets 54 50 Property, plant and equipment Total ROU assets $ 471 $ 470 Lease liabilities: Operating lease liabilities — current $ 86 $ 87 Other current liabilities Operating lease liabilities — noncurrent 343 340 Other noncurrent liabilities Finance lease liabilities — current 3 5 Current maturities of long-term debt Finance lease liabilities — noncurrent 52 45 Long-term debt Total lease liabilities $ 484 $ 477 The components of lease cost for Fiscal 2024, Fiscal 2023 and Fiscal 2022 are as follows: 2024 2023 2022 Operating lease cost $ 111 $ 104 $ 96 Finance lease cost: Amortization of ROU assets 4 3 4 Interest on lease liabilities 3 3 3 Variable lease cost 1 2 6 Short-term lease cost 10 4 2 Total lease cost $ 129 $ 116 $ 111 The following table presents the cash and non-cash activity related to lease liabilities included in the Consolidated Statements of Cash Flows during Fiscal 2024, Fiscal 2023 and Fiscal 2022: 2024 2023 2022 Cash paid related to lease liabilities: Operating cash flows — operating leases $ 109 $ 103 $ 95 Operating cash flows — finance leases $ 4 $ 3 $ 3 Financing cash flows — finance leases $ 2 $ 1 $ 2 Non-cash lease liability activities: ROU assets obtained in exchange for operating lease liabilities $ 84 $ 136 $ 72 ROU assets obtained in exchange for finance lease liabilities $ 7 $ 6 $ 2 The following table presents the weighted-average remaining lease term and weighted-average discount rate: Weighted-average remaining lease term (in years) 2024 2023 Operating leases 6.8 7.1 Finance leases 6.7 5.3 Weighted-average discount rate (%) 2024 2023 Operating leases 4.8% 4.5% Finance leases 6.9% 2.2% Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Consolidated Balance Sheet, as of September 30, 2024, were as follows: 2025 2026 2027 2028 2029 After 2029 Total Lease Payments Imputed Interest Lease Liabilities Operating leases $ 102 $ 88 $ 75 $ 63 $ 50 $ 122 $ 500 $ (71) $ 429 Finance leases $ 6 $ 6 $ 6 $ 5 $ 4 $ 76 $ 103 $ (48) $ 55 Approximately 80% of the operating lease liabilities presented above relate to AmeriGas Propane. At September 30, 2024, operating and finance leases that had not yet commenced were not material. Lessor

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16 — Commitments and Contingencies Environmental Matters UGI Utilities 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. By the early 1950s, UGI Utilities divested all of its utility operations other than certain gas and electric operations. Beginning in 2006 and 2008, UGI Utilities also owned and operated two acquired subsidiaries, with similar histories of owning, and in some cases operating, MGPs in Pennsylvania. UGI Utilities is subject to a COA with the PADEP to address the remediation of specified former MGP sites in Pennsylvania, which is scheduled to terminate at the end of 2031. In accordance with the COA, UGI Utilities is required to either obtain a certain number of points per calendar year based on defined eligible environmental investigatory and/or remedial activities at the MGPs, or make expenditures for such activities in an amount equal to an annual environmental minimum expenditure threshold. The annual minimum expenditure threshold of the COA is $5. At September 30, 2024 and 2023, our aggregate estimated accrued liabilities for environmental investigation and remediation costs related to the COA totaled $54 and $52, respectively. We do not expect the costs for investigation and remediation of hazardous substances at Pennsylvania MGP sites to be material to UGI Utilities’ results of operations because UGI Utilities receives ratemaking recovery of actual environmental investigation and remediation costs associated with the sites covered by the COA. This ratemaking recognition reconciles the accumulated difference between historical costs and rate recoveries with an estimate of future costs associated with the sites. As such, UGI Utilities has recorded an associated regulatory asset for these costs because recovery of these costs from customers is probable (see Note 9). From time to time, UGI Utilities is notified of sites outside Pennsylvania on which private parties allege MGPs were formerly owned or operated by UGI Utilities or owned or operated by a former subsidiary. 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 a former subsidiary 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. Neither the undiscounted nor the accrued liability for environmental investigation and cleanup costs for UGI Utilities’ MGP sites outside Pennsylvania were material for all periods presented. AmeriGas Propane AmeriGas OLP Saranac Lake. In 2008, the NYDEC notified AmeriGas OLP that the NYDEC had placed property purportedly owned by AmeriGas OLP in Saranac Lake, New York on the New York State Registry of Inactive Hazardous Waste Disposal Sites. A site characterization study performed by the NYDEC disclosed contamination related to a former MGP. AmeriGas OLP responded to the NYDEC in 2009 to dispute the contention it was a PRP as it did not operate the MGP and appeared to only own a portion of the site. In 2017, the NYDEC communicated to AmeriGas OLP that the NYDEC had previously issued three RODs related to remediation of the site totaling approximately $28 and requested additional information regarding AmeriGas OLP’s purported ownership. AmeriGas OLP renewed its challenge to designation as a PRP and identified potential defenses. The NYDEC subsequently identified a third party PRP with respect to the site. The NYDEC commenced implementation of the remediation plan in the spring of 2018. In Fiscal 2024, the NYDEC informed AmeriGas OLP that the remediation plan had been completed at a total cost of approximately $19. The New York Office of the Attorney General, as counsel for the NYDEC, invited AmeriGas OLP to participate in settlement discussions. Based on our evaluation of the available information as of September 30, 2024 and 2023, the Partnership has an undiscounted environmental remediation liability of $8 related to the site. Our share of the actual remediation costs could be significantly more or less than the accrued amount. Other Matters West Reading, Pennsylvania Explosion. On March 24, 2023, an explosion occurred in West Reading, Pennsylvania which resulted in seven fatalities, significant injuries to eleven others, and extensive property damage to buildings owned by R.M. Palmer, a local chocolate manufacturer, and other neighboring structures. The NTSB and the PAPUC are investigating the West Reading incident. On July 18, 2023, the NTSB issued an Investigative Update in its ongoing investigation. That report identifies a fracture in a retired UGI gas service tee and a fracture in a nearby steam system, but it does not address causation of the fractures or the explosion. The NTSB investigative team includes representatives from the Company, the PAPUC, the local fire department and the Pipeline and Hazardous Materials Safety Administration. The Company is cooperating with the investigation. The NTSB may invite other parties to participate. In September 2023, OSHA closed their investigation of this matter, without any finding pertaining to UGI Utilities. While the investigation into this incident is still underway and the cause of the explosion has not been determined, the Company has received claims as a result of the explosion and is involved in lawsuits relative to the incident. The Company maintains liability insurance for personal injury, property and casualty damages and believes that third-party claims associated with the explosion, in excess of the Company’s deductible, are recoverable through the Company’s insurance. The Company cannot predict the result of these pending or future claims and legal actions at this time. Regarding these pending claims and legal actions, the Company does not believe, at this early stage, that there is sufficient information available to reasonably estimate a range of loss, if any, or conclude that the final outcome of these matters will or will not have a material effect on our financial statements. In addition to the matters described above, there are other pending claims and legal actions arising in the normal course of our businesses. Although we cannot predict the final results of these pending claims and legal actions, including those described above, we believe, after consultation with counsel, that the final outcome of these matters will not have a material effect on our financial statements. UGI International In the first quarter of Fiscal 2024, UGI France initiated VDPs in consultation with the French Works Council, pursuant to which employees are incentivized to voluntarily terminate employment or may be subject to involuntary termination to achieve certain workforce reductions. As of September 30, 2024, the likelihood of termination benefits under VDPs was probable and the amount of such benefits was reasonably estimable. As a result, for the fiscal year ended September 30, 2024, UGI International recorded pre-tax severance and other related expenses of $50, which are reflected in “Operating and administrative expenses” on the Consolidated Statements of Income.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 17 — Fair Value Measurements Recurring Fair Value Measurements The following table presents, on a gross basis, our financial assets and liabilities, including both current and noncurrent portions, that are measured at fair value on a recurring basis within the fair value hierarchy as described in Note 2: Asset (Liability) Level 1 Level 2 Level 3 Total September 30, 2024: Derivative instruments: Assets: Commodity contracts $ 106 $ 27 $ — $ 133 Foreign currency contracts $ — $ 6 $ — $ 6 Interest rate contracts $ — $ 1 $ — $ 1 Liabilities: Commodity contracts $ (120) $ (32) $ — $ (152) Foreign currency contracts $ — $ (9) $ — $ (9) Interest rate contracts $ — $ (22) $ — $ (22) Non-qualified supplemental postretirement grantor trust investments (a) $ 43 $ — $ — $ 43 September 30, 2023 Derivative instruments: Assets: Commodity contracts (b) $ 117 $ 115 $ — $ 232 Foreign currency contracts $ — $ 38 $ — $ 38 Interest rate contracts $ — $ 28 $ — $ 28 Liabilities: Commodity contracts (b) $ (193) $ (81) $ — $ (274) Foreign currency contracts $ — $ (2) $ — $ (2) Non-qualified supplemental postretirement grantor trust investments (a) $ 39 $ — $ — $ 39 (a) Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans (see Note 8). (b) Includes derivative assets and liabilities associated with certain UGI International energy marketing business transactions that qualified for held for sale accounting and are included in “Other current assets” and “Other current liabilities” on the Consolidated Balance Sheets (see Note 5). 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. Substantially all of the remaining derivative 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. 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. The fair values of investments held in grantor trusts are derived from quoted market prices as substantially all of the investments in these trusts have active markets. Nonrecurring Fair Value Measurements In connection with the disposition of UGID in Fiscal 2024, we recognized a non-cash, pre-tax impairment charge of $62 to reduce the carrying amount of UGID’s long-lived assets included in the disposal group to their estimated fair value. The Company determined the estimated fair value of such assets fell within Level 2 of the fair value hierarchy and was based upon the then-estimated sales price. See Note 5 for additional information on the disposition of UGID. Based on our goodwill impairment evaluations in Fiscal 2024 and Fiscal 2023, the estimated fair value of the AmeriGas Propane reporting unit was determined to be less than its carrying value. As a result, the Company recorded a non-cash pre-tax goodwill impairment charge of $195 and $656 in Fiscal 2024 and Fiscal 2023, respectively. See Note 12 for additional information on the impairment test, including the key assumptions used to determine the fair value of the AmeriGas Propane reporting unit. 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. 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). The carrying amounts and estimated fair values of our long-term debt (including current maturities but excluding unamortized debt issuance costs) were as follows: 2024 2023 Carrying amount $ 6,733 $ 6,647 Estimated fair value $ 6,663 $ 6,238 Financial instruments other than derivative instruments, such as short-term investments and trade accounts receivable, could expose us to concentrations of credit risk. We limit 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 arising from concentrations of trade accounts receivable is limited because we have a large customer base that extends across many different U.S. markets and a number of foreign countries. See Note 18 for information regarding concentrations of credit risk associated with our derivative instruments.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 18 — 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: (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. Although our commodity derivative instruments extend over a number of years, a significant portion of our commodity derivative instruments economically hedge commodity price risk during the next twelve months. See Note 2 for information on the accounting for our derivative instruments. The following sections summarize the types of derivative instruments used by the Company to manage these market risks. Commodity Price Risk Regulated Utility Operations Natural Gas PA Gas Utility’s tariffs contain clauses that permit recovery of all 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 PAPUC pursuant to PA Gas Utility’s annual PGC filings, PA Gas Utility currently uses 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. See Note 9 for further information on the regulatory accounting treatment for these derivative instruments. Non-utility Operations LPG In order to manage market price risk associated with the Partnership’s fixed-price programs and to reduce the effects of short-term commodity price volatility, the Partnership uses over-the-counter derivative commodity instruments, principally price swap contracts. In addition, the Partnership 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. Natural Gas In order to manage market price risk relating to fixed-price sales contracts for physical natural gas, Midstream & Marketing enters into NYMEX and over-the-counter natural gas futures and over-the-counter and ICE natural gas basis swap contracts. In addition, Midstream & Marketing uses NYMEX and over-the-counter futures and options contracts to economically hedge price volatility associated with the gross margin derived from the purchase and anticipated later near-term sale of natural gas storage inventories. Outside of the financial market, Midstream & Marketing also uses ICE and over-the-counter forward physical contracts. UGI International also uses natural gas futures and forward contracts to economically hedge market price risk associated with a substantial portion of anticipated volumes under fixed-price sales contracts with its customers. See Note 5 for information on the exit of substantially all of the Company’s energy marketing business in Europe. Electricity In order to manage market price risk relating to fixed-price sales contracts for electricity, Midstream & Marketing enters into electricity futures and forward contracts. Midstream & Marketing also uses NYMEX and over-the-counter electricity futures contracts to economically hedge the price of a portion of its anticipated future sales of electricity from its electric generation facilities. UGI International also uses electricity futures and forward contracts to economically hedge market price risk associated with fixed-price sales and purchase contracts for electricity. See Note 5 for information on the exit of substantially all of the Company’s European energy marketing business and the disposition of UGID. Interest Rate Risk Certain of our long-term debt agreements have interest rates that are generally indexed to short-term market interest rates. In order to fix the underlying short-term market interest rates, we may enter into pay-fixed, receive-variable interest rate swap agreements and designate such swaps as cash flow hedges. In March 2023, in connection with the Energy Services Amended Term Loan Credit Agreement, Energy Services terminated and settled its existing interest rate swap associated with the Energy Services Term Loan Credit Agreement at a $32 gain. This gain was deferred in AOCI and was amortized to interest expense over the remaining term of the initial interest rate swap ending July 2024. The remainder of our long-term debt is typically issued at fixed rates of interest. As this long-term debt matures, 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 IRPAs. We account for IRPAs as cash flow hedges. There were no unsettled IRPAs during any of the periods presented. At September 30, 2024, the amount of pre-tax net gains associated with interest rate hedges expected to be reclassified into earnings during the next twelve months is $6. Foreign Currency Exchange Rate Risk Forward Foreign Currency Exchange Contracts In order to reduce the volatility in net income associated with our foreign operations, principally as a result of changes in the USD exchange rate to the euro and British pound sterling, we enter into forward foreign currency exchange contracts. We layer in these foreign currency exchange contracts over multi-year periods to eventually equal approximately 90% of anticipated UGI International foreign currency earnings before income taxes. Because these contracts are not designated as hedging instruments, realized and unrealized gains and losses on these contracts are recorded in “Other non-operating (expense) income, net” on the Consolidated Statements of Income. Net Investment Hedges From time to time, we also enter into certain forward foreign currency exchange contracts to reduce the volatility of the USD value of a portion of our UGI International euro-denominated net investments, including anticipated foreign currency denominated dividends. We account for these foreign currency exchange contracts as net investment hedges and all changes in the fair value of these contracts are reported in the cumulative translation adjustment component in AOCI. We use the spot rate method to measure ineffectiveness of our net investment hedges. Our euro-denominated long-term debt has also been designated as net investment hedges, representing a portion of our UGI International euro-denominated net investment. We recognized pre-tax (losses) gains associated with these net investment hedges in the foreign currency component of AOCI totaling $(39), $(57) and $123 during Fiscal 2024, Fiscal 2023, and Fiscal 2022, respectively. Quantitative Disclosures Related to Derivative Instruments The following table summarizes by derivative type the gross notional amounts related to open derivative contracts at September 30, 2024 and 2023 and the final settlement dates of the Company's open derivative contracts as of September 30, 2024, but excluding those derivatives that qualified for the NPNS exception: Notional Amounts September 30, Type Units Settlements Extending Through 2024 2023 Commodity Price Risk: Regulated Utility Operations PA Gas Utility NYMEX natural gas futures and option contracts Dekatherms September 2025 26 38 Non-utility Operations LPG swaps Gallons December 2026 458 727 Natural gas futures, forward, basis swap, options and pipeline contracts (a) Dekatherms March 2028 325 338 Electricity forward and futures contracts Kilowatt hours December 2027 1,113 1,260 Interest Rate Risk: Interest rate swaps Euro March 2026 € 300 € 300 Interest rate swaps USD September 2027 $ 1,231 $ 1,270 Foreign Currency Exchange Rate Risk: Forward foreign currency exchange contracts USD September 2027 $ 389 $ 425 Net investment hedge forward foreign exchange contracts Euro December 2026 € 181 € 256 (a) Amounts at September 30, 2023 include contracts associated with certain UGI International energy marketing business transactions that qualified for held for sale accounting treatment (see Note 5). Derivative Instrument Credit Risk We are exposed to risk of loss in the event of nonperformance by our derivative instrument counterparties. Our derivative 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. We have concentrations of credit risk associated with derivative instruments and we evaluate the creditworthiness of our derivative counterparties on an ongoing basis. As of September 30, 2024, the maximum amount of loss, based upon the gross fair values of the derivative instruments, we would incur if these counterparties failed to perform according to the terms of their contracts was $140. In general, many of our over-the-counter derivative instruments and all exchange contracts call for the posting of collateral by the counterparty or by the Company in the forms of letters of credit, parental guarantees or cash. At September 30, 2024, we had received cash collateral from derivative instrument counterparties totaling $14. In addition, we may have offsetting derivative liabilities and certain accounts payable balances with certain of these counterparties, which further mitigates the previously mentioned maximum amount of losses. 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, 2024, if the credit-risk-related contingent features were triggered, the amount of collateral required to be posted would not be material. Offsetting Derivative Assets and Liabilities Derivative assets and liabilities are presented net by counterparty on the Consolidated Balance Sheets if the right of offset exists. We offset amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against amounts recognized for derivative instruments executed with the same counterparty. Our derivative instruments include both those that are executed on an exchange through brokers and centrally cleared and over-the-counter transactions. Exchange contracts utilize a financial intermediary, exchange, or clearinghouse to enter, execute, or clear the transactions. Over-the-counter contracts are bilateral contracts that are transacted directly with a third party. Certain over-the-counter and exchange contracts contain contractual rights of offset through master netting arrangements, derivative clearing agreements, and contract default provisions. In addition, the contracts are subject to conditional rights of offset through counterparty nonperformance, insolvency or other conditions. In general, many of our over-the-counter transactions and all exchange contracts are subject to collateral requirements. Types of collateral generally include cash or letters of credit. Cash collateral paid by us to our over-the-counter derivative counterparties, if any, is reflected in the table below to offset derivative liabilities. Cash collateral received by us from our over-the-counter derivative counterparties, if any, is reflected in the table below to offset derivative assets. Certain other accounts receivable and accounts payable balances recognized on the Consolidated Balance Sheets with our derivative counterparties are not included in the table below but could reduce our net exposure to such counterparties because such balances are subject to master netting or similar arrangements. Fair Value of Derivative Instruments The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting, as of September 30: 2024 2023 Derivative assets: Derivatives designated as hedging instruments: Foreign currency contracts $ 6 $ 14 Interest rate contracts 1 28 7 42 Derivatives subject to PGC and DS mechanisms: Commodity contracts 4 6 Derivatives not designated as hedging instruments: Commodity contracts (a) 129 226 Foreign currency contracts — 24 129 250 Total derivative assets – gross 140 298 Gross amounts offset in the balance sheet (88) (124) Cash collateral received (14) (40) Total derivative assets – net $ 38 $ 134 Derivative liabilities: Derivatives designated as hedging instruments: Interest rate contracts $ (22) $ — Derivatives subject to PGC and DS mechanisms: Commodity contracts (1) (8) Derivatives not designated as hedging instruments: Commodity contracts (a) (151) (266) Foreign currency contracts (9) (2) (160) (268) Total derivative liabilities – gross (183) (276) Gross amounts offset in the balance sheet 88 124 Cash collateral pledged 36 53 Total derivative liabilities – net $ (59) $ (99) (a) Amounts at September 30, 2023 include derivative contracts associated with certain UGI International energy marketing business transactions (see Note 5). The related derivative assets and liabilities qualify for held for sale accounting treatment and are included in “Other current assets ” and “Other current liabilities,” respectively, on the Consolidated Balance Sheets at September 30, 2023. Effects of Derivative Instruments The following tables provide information on the effects of derivative instruments on the Consolidated Statements of Income and changes in AOCI for Fiscal 2024, Fiscal 2023 and Fiscal 2022: Gain (Loss) Gain (Loss) Location of Gain (Loss) Reclassified from 2024 2023 2022 2024 2023 2022 Cash Flow Hedges: Interest rate contracts $ (19) $ 25 $ 91 $ 49 $ 40 $ (7) Interest expense Net Investment Hedges: Foreign currency contracts $ (5) $ (21) $ 69 Gain (Loss) Location of Gain (Loss) Recognized in Income 2024 2023 2022 Derivatives Not Designated as Hedging Instruments: Commodity contracts $ 1 $ 11 $ (9) Revenues Commodity contracts (92) (1,771) 1,181 Cost of sales Commodity contracts 3 2 1 Other operating income, net Foreign currency contracts (19) (23) 63 Other non-operating (expense) income, net Total $ (107) $ (1,781) $ 1,236 We are also a party to a number of other contracts that have elements of a derivative instrument. However, these contracts qualify for NPNS exception accounting 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 these contracts are based on an underlying that is directly associated with the price of the product or service being purchased or sold. These contracts include, among others, binding purchase orders, contracts that provide for the purchase and delivery, or sale, of energy products, and service contracts that require the counterparty to provide commodity storage, transportation or capacity service to meet our normal sales commitments.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 19 — Accumulated Other Comprehensive Income (Loss) Other comprehensive income (loss) principally comprises (1) gains and losses on derivative instruments qualifying as cash flow hedges, net of reclassifications to net income; (2) actuarial gains and losses on postretirement benefit plans, net of associated amortization; and (3) foreign currency translation and long-term intra-company transaction adjustments. The tables below present changes in AOCI, net of tax: Postretirement Derivative Foreign Total AOCI - September 30, 2021 $ (17) $ (33) $ (90) $ (140) Other comprehensive income (loss) before reclassification adjustments 28 64 (341) (249) Amounts reclassified from AOCI 3 6 — 9 Other comprehensive income (loss) attributable to UGI 31 70 (341) (240) AOCI - September 30, 2022 $ 14 $ 37 $ (431) $ (380) Other comprehensive income (loss) before reclassification adjustments 5 16 132 153 Amounts reclassified from AOCI (2) (27) — (29) Other comprehensive income (loss) attributable to UGI 3 (11) 132 124 AOCI - September 30, 2023 $ 17 $ 26 $ (299) $ (256) Other comprehensive (loss) income before reclassification adjustments (7) (14) 56 35 Amounts reclassified from AOCI — (35) 3 (32) Other comprehensive (loss) income attributable to UGI (7) (49) 59 3 AOCI - September 30, 2024 $ 10 $ (23) $ (240) $ (253)

Other Operating Income, Net and

Other Operating Income, Net and Other Non-Operating Income (Expense), Net	12 Months Ended
	Sep. 30, 2024
Component of Operating Income [Abstract]
Other Operating Income, Net and Other Non-Operating Income (Expense), Net	Note 20 — Other Operating Income, Net and Other Non-Operating Income (Expense), Net Other Operating Income, Net Other operating income, net, comprises the following: 2024 2023 2022 Finance charges $ 16 $ 17 $ 18 Gains on sales of fixed assets, net (a) 22 61 33 Foreign currency transaction gains (losses) 2 7 (5) Cylinder deposit income 17 23 18 Interest and interest-related income 11 6 1 Other, net (6) 18 14 Total other operating income, net $ 62 $ 132 $ 79 (a) Fiscal 2023 includes a $15 gain on the sale of UGI Corporation’s headquarters building in August 2023. Other Non-Operating (Expense) Income, Net Other non-operating (expense) income, net comprises the following: 2024 2023 2022 (Losses) gains on foreign currency contracts, net $ (19) $ (23) $ 63 Amortization of excluded components of certain net investment hedges 5 7 7 Pension and other postretirement plans non-service income, net 6 9 5 Total other non-operating (expense) income, net $ (8) $ (7) $ 75

Equity Method Investments

Equity Method Investments	12 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Note 21 — Equity Method Investments Equity method investments which are included within “Other assets” on the Consolidated Balance Sheets, comprises the following as of September 30: Carrying Value Ownership Interest Investees 2024 2023 2024 2023 Midstream & Marketing Aurum Renewables $ 47 $ 45 40% 40% Pine Run 86 77 49% 49% MBL Bioenergy 206 122 99.99% 99.99% Other 20 20 various various Total Midstream & Marketing 359 264 UGI International 10 35 various various Other 1 — various various Total investments in equity method investees $ 370 $ 299 Aurum Renewables . In January 2023, the Company, through its wholly owned indirect subsidiary, entered into a joint venture agreement with a third party Archaea Holdings, LLC (“Archaea”). The primary purpose of the joint venture, Aurum Renewables LLC, is to upgrade landfill gas from the Commonwealth Environmental Systems landfill located in Hegins, Pennsylvania to pipeline-quality RNG. Pursuant to this agreement, the Company contributed its existing 11 megawatt landfill gas-to-electricity facility, as non-cash consideration, in return for a 40% equity interest in the joint venture. Aurum Renewables is expected to have the capacity to produce approximately 9,600 standard cubic feet of landfill gas per minute of pipeline-quality RNG. Archaea led the development, engineering, construction, and operation of the new RNG facility, and Energy Services will take a lead role in marketing the RNG produced by the facility. The project was operational as of September 30, 2024. Pine Run. Pine Run is a company jointly owned by UGI Pine Run, LLC (a wholly-owned subsidiary of Energy Services) and Stonehenge Energy Resources . Pine Run Midstream operates dry gas gathering pipelines and compression assets in western Pennsylvania. Pine Run is accounted for as an equity method investment as we have the ability to exercise significant influence, but not control, over the entity. MBL Bioenergy . MBL Bioenergy is a company jointly owned by UGI Dakota, LLC (a wholly-owned subsidiary of Energy Services), Sevana Bioenergy and a subsidiary of California Bioenergy. The sole purpose of MBL Bioenergy is the development of RNG projects in South Dakota comprising three dairy waste anaerobic digester systems. MBL Bioenergy is a variable interest entity whereby the Company has determined that it is not the primary beneficiary since it does not direct the activities that most significantly impact the entity’s economic performance. In addition to consent being required for all equity holders for significant activities, such as major procurement, construction contracting and offtake, our partners manage the day-to-day project management and operations for MBL Bioenergy and its subsidiaries. Other Equity Method Investment s. The carrying values of our other equity investments totaled $31 and $55 at September 30, 2024 and 2023, respectively, and principally comprise a number of investments in biomass and other renewable energy projects at Energy Services and, at September 30, 2023, also held an investment in a renewable energy joint venture at UGI International. During Fiscal 2024, UGI International recognized an other-than-temporary pre-tax impairment loss of $26 related to its investment in this joint venture that invests in renewable energy projects. This loss was recorded in “(Loss) income from equity investees” on the Consolidated Statements of Income. Our maximum exposure to loss related to these investments is limited to the amount invested.

Segment Information

Segment Information	12 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Note 22 — Segment Information Our operations comprise four reportable segments generally based upon products or services sold, geographic location and regulatory environment: (1) Utilities; (2) Midstream & Marketing; (3) UGI International; and (4) AmeriGas Propane. Our Utilities segment primarily derives its revenues from the sale and distribution of natural gas to customers in eastern and central Pennsylvania and in West Virginia. To a much lesser extent, Utilities also derives revenues from the sale and distribution of electricity in two northeastern Pennsylvania counties. Midstream & Marketing derives its revenues principally from the marketing of natural gas, liquid fuels and electricity as well as revenues and fees from storage, pipeline transportation, natural gas gathering, and natural gas and RNG production activities primarily in the Mid-Atlantic region of the U.S. eastern Ohio, the panhandle of West Virginia and California. Midstream & Marketing also derives revenues from the sale of electricity through PJM, a regional electricity transmission organization in the eastern U.S. In September 2024, Midstream & Marketing sold its ownership interest in UGID principally comprising the Hunlock Creek Energy Center (see Note 5). UGI International derives its revenues principally from the distribution of LPG to retail customers throughout much of Europe. In addition, prior to the sale and wind-down of the substantially all of its European energy marking business, UGI International derived revenue from the marketing of natural gas and electricity to customers in France, the Netherlands, Belgium and the United Kingdom (see Note 5). AmeriGas Propane derives its revenues principally from the sale of propane and related equipment and supplies to retail customers in all 50 states. Corporate & Other includes the net expenses of UGI’s captive general liability insurance company, UGI’s corporate headquarters facility and UGI’s unallocated corporate and general expenses as well as interest expense on UGI debt that is not allocated. Corporate & Other also includes certain items that are excluded from our CODM’s assessment of segment performance (see below for further details on these items). Corporate & Other assets principally comprise cash and cash equivalents of UGI and its captive insurance company, and other UGI holding company related assets. The accounting policies of our reportable segments are the same as those described in Note 2. Our CODM evaluates the performance of all of our reportable segments based upon earnings before interest expense and income taxes, excluding the items noted below. 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. The amounts of revenues and long-lived assets associated with our operations in France represent approximately 20% and 10% of the respective consolidated amounts. Total Elim- Utilities Midstream UGI International AmeriGas Corporate & 2024 Revenues from external customers $ 7,210 $ — $ 1,549 $ 1,152 $ 2,279 $ 2,271 $ (41) Intersegment revenues $ — $ (266) (b) $ 49 $ 217 $ — $ — $ — Cost of sales $ 3,529 $ (266) (b) $ 650 $ 864 $ 1,301 $ 1,059 $ (79) Operating income (loss) $ 770 $ — $ 394 $ 301 $ 311 $ 142 $ (378) (Loss) income from equity investees (19) — — 12 (5) — (26) Loss on extinguishments of debt (9) — — — — — (9) Other non-operating (loss) income, net (8) — 6 — 17 — (31) Earnings (loss) before interest expense and income taxes 734 — 400 313 323 142 (444) Interest expense (394) — (93) (41) (44) (156) (60) Income tax (expense) benefit (71) — (70) (34) (17) (9) 59 Net income (loss) attributable to UGI $ 269 $ — $ 237 $ 238 $ 262 $ (23) $ (445) Depreciation and amortization $ 551 $ — $ 166 $ 86 $ 119 $ 178 $ 2 Total assets $ 15,098 $ (733) $ 5,963 $ 3,183 $ 2,906 $ 3,051 $ 728 Short-term borrowings $ 465 $ — $ 286 $ — $ 128 $ 51 $ — Capital expenditures (including the effects of accruals) $ 805 $ — $ 482 $ 150 $ 87 $ 86 $ — Investments in equity investees $ 370 $ — $ — $ 359 $ 10 $ — $ 1 Total Elim- Utilities Midstream UGI International AmeriGas Corporate & 2023 Revenues from external customers $ 8,928 $ — $ 1,780 $ 1,596 $ 2,965 $ 2,581 $ 6 Intersegment revenues $ — $ (326) (b) $ 74 $ 251 $ — $ — $ 1 Cost of sales $ 6,937 $ (325) (b) $ 953 $ 1,360 $ 2,045 $ 1,250 $ 1,654 Operating (loss) income $ (1,444) $ — $ 357 $ 285 $ 215 $ 268 $ (2,569) Income (loss) from equity investees 2 — — 6 (4) — — Loss on extinguishments of debt (9) — — — — — (9) Other non-operating (loss) income, net (7) — 8 — 23 — (38) (Loss) earnings before interest expense and income taxes (1,458) — 365 291 234 268 (2,616) Interest expense (379) — (82) (45) (37) (163) (52) Income tax benefit (expense) 335 — (64) (53) (25) (34) 511 Net (loss) income attributable to UGI $ (1,502) $ — $ 219 $ 193 $ 172 $ 71 $ (2,157) Depreciation and amortization $ 532 $ — $ 152 $ 86 $ 116 $ 177 $ 1 Total assets $ 15,401 $ (173) $ 5,691 $ 3,160 $ 3,105 $ 3,415 $ 203 Short-term borrowings $ 649 $ — $ 332 $ 103 $ 214 $ — $ — Capital expenditures (including the effects of accruals) $ 956 $ 563 $ 130 $ 129 $ 134 $ — Investments in equity investees $ 299 $ — $ — $ 264 $ 35 $ — $ — 2022 Revenues from external customers $ 10,106 $ — $ 1,515 $ 1,957 $ 3,686 $ 2,943 $ 5 Intersegment revenues $ — $ (477) (b) $ 105 $ 369 $ — $ — $ 3 Cost of sales $ 5,973 $ (474) (b) $ 798 $ 1,876 $ 2,751 $ 1,613 $ (591) Operating income $ 1,666 $ — $ 327 $ 246 $ 237 $ 307 $ 549 (Loss) income from equity investees (14) — — 23 (2) — (35) Loss on extinguishments of debt (11) — — — — — (11) Other non-operating income, net 75 — 9 — 19 — 47 Earnings before interest expense and income taxes 1,716 — 336 269 254 307 550 Interest expense (329) — (65) (41) (28) (160) (35) Income tax expense (313) — (65) (65) (50) (35) (98) Noncontrolling interests’ net income (1) — — — (1) — — Net income attributable to UGI $ 1,073 $ — $ 206 $ 163 $ 175 $ 112 $ 417 Depreciation and amortization $ 518 $ — $ 144 $ 79 $ 116 $ 177 $ 2 Total assets $ 17,575 $ (203) $ 5,354 $ 3,286 $ 4,610 $ 4,332 $ 196 Short-term borrowings $ 368 $ — $ 236 $ — $ 1 $ 131 $ — Capital expenditures (including the effects of accruals) $ 835 $ — $ 562 $ 38 $ 107 $ 128 $ — Investments in equity investees $ 130 $ — $ — $ 109 $ 20 $ — $ 1 (a) Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM in assessing our reportable segments’ performance or allocating resources. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate, for Fiscal 2024, Fiscal 2023 and Fiscal 2022: Location on Income Statement Midstream & Marketing UGI International AmeriGas Propane 2024 Net gains on commodity derivative instruments not associated with current-period transactions Revenues $ — $ 1 $ — Net gains (losses) on commodity derivative instruments not associated with current-period transactions Cost of Sales $ 63 $ (5) $ 21 Net losses on commodity derivative instruments not associated with current-period transactions Other operating income, net $ — $ (3) $ — AmeriGas operations enhancement for growth project Operating and administrative expenses $ — $ — $ (25) Restructuring costs Operating and administrative expenses $ (1) $ (57) $ (1) Loss on extinguishments of debt Loss on extinguishments of debt $ (1) $ — $ (8) Unrealized losses on foreign currency derivative instruments Other non-operating (expense) income, net $ — $ (31) $ — Impairments of equity method investments and assets (Loss) income from equity investees, Other operating income, net $ — $ (33) $ — Loss associated with impairment of AmeriGas Propane goodwill Impairment of goodwill $ — $ — $ (195) Costs associated with exit of the UGI International energy marketing business Revenues $ — $ (42) $ — Costs associated with exit of the UGI International energy marketing business Operating and administrative expenses; Other operating income, net $ — $ (13) $ — Costs associated with exit of the UGI International energy marketing business Loss on disposals of businesses $ — $ (29) $ — Loss on disposal of UGID Loss on disposals of businesses $ (66) $ — $ — 2023 Net gains (losses) on commodity derivative instruments not associated with current-period transactions Revenues $ 6 $ 4 $ — Net (losses) gains on commodity derivative instruments not associated with current-period transactions Cost of sales $ (236) $ (1,402) $ (16) Loss on extinguishment of debt Loss on extinguishments of debt $ — $ — $ (9) Unrealized gains on foreign currency derivative instruments Other non-operating (expense) income, net $ — $ (38) $ — AmeriGas operations enhancement for growth project Operating and administrative expenses $ — $ — $ (24) Loss associated with impairment of AmeriGas Propane goodwill Impairment of goodwill $ — $ — $ (656) Costs associated with exit of the UGI International energy marketing business Revenues; Operating and administrative expenses $ — $ (27) $ — Costs associated with exit of the UGI International energy marketing business Loss on disposals of businesses $ — $ (221) $ — 2022 Net losses on commodity derivative instruments not associated with current-period transactions Revenues $ (4) $ 9 $ — Net gains on commodity derivative instruments not associated with current-period transactions Cost of Sales $ (21) $ 797 $ (185) Net gains on commodity derivative instruments not associated with current-period transactions Other operating income, net $ — $ 2 $ — Unrealized gains on foreign currency derivative instruments Other non-operating (expense) income, net $ — $ 50 $ — Loss on extinguishments of debt Loss on extinguishment of debt $ — $ (11) $ — AmeriGas operations enhancement for growth project Operating and administrative expenses $ — $ — $ (5) Restructuring costs Operating and administrative expenses $ (1) $ (9) $ (16) Impairments associated with certain equity method investments (Loss) income from equity investees $ (35) $ (5) $ — (b) Represents the elimination of intersegment transactions principally among Midstream & Marketing, Utilities and AmeriGas Propane.

SCHEDULE I _ CONDENSED FINANCIA

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)	12 Months Ended
	Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract]
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)	BALANCE SHEETS (Millions of dollars) September 30, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 4 $ 7 Accounts receivable – related parties 23 11 Prepaid expenses and other current assets 2 23 Total current assets 29 41 Investments in subsidiaries 5,625 5,343 Other assets 145 143 Total assets $ 5,799 $ 5,527 LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY Current liabilities: Current maturities of long-term debt $ — $ 38 Accounts and notes payable 15 28 Derivative instruments 1 — Accrued liabilities 58 39 Total current liabilities 74 105 Long-term debt 1,312 969 Other noncurrent liabilities 68 67 Total liabilities 1,454 1,141 Commitments and contingencies (Note 1) Equity: Preferred Stock, without par value (authorized - 5,000,000; issued - 0 and 220,000, respectively) — 167 Common Stock, without par value (authorized – 450,000,000 shares; issued – 216,124,332 and 210,906,052 shares, respectively) 1,676 1,503 Retained earnings 2,978 3,027 Accumulated other comprehensive loss (253) (256) Treasury stock, at cost (56) (55) Total common stockholders’ equity 4,345 4,386 Total liabilities and common stockholders’ equity $ 5,799 $ 5,527 Note 1 — Commitments and Contingencies: At September 30, 2024, UGI Corporation had agreed to indemnify the issuers of $110 of surety bonds issued on behalf of certain UGI subsidiaries. UGI Corporation is authorized to guarantee up to $475 of obligations to suppliers and customers of Energy Services and subsidiaries of which $371 of such obligations were outstanding as of September 30, 2024. STATEMENTS OF INCOME (Millions of dollars, except per share amounts) Year Ended September 30, 2024 2023 2022 Revenues $ — $ — $ — Costs and expenses: Operating and administrative expenses 100 95 74 Other operating income, net (a) (86) (83) (63) 14 12 11 Operating loss (14) (12) (11) Pension and other postretirement plans non-service expense — — (3) Interest expense (61) (52) (35) Loss before income taxes (75) (64) (49) Income tax benefit (7) (13) — Loss before equity in income of unconsolidated subsidiaries (68) (51) (49) Equity in income (loss) of unconsolidated subsidiaries 337 (1,451) 1,122 Net income (loss) attributable to UGI Corporation $ 269 $ (1,502) $ 1,073 Other comprehensive (loss) income (17) (8) 34 Equity in other comprehensive income (loss) of unconsolidated subsidiaries 20 132 (274) Comprehensive income (loss) attributable to UGI Corporation $ 272 $ (1,378) $ 833 Earnings (loss) per common share attributable to UGI Corporation stockholders: Basic $ 1.27 $ (7.16) $ 5.11 Diluted $ 1.25 $ (7.16) $ 4.97 Weighted - average common shares outstanding (thousands): Basic 211,309 209,806 209,940 Diluted 215,271 209,806 215,821 (a) 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 operating income, net” in the Statements of Income above. STATEMENTS OF CASH FLOWS (Millions of dollars) Year Ended September 30, 2024 2023 2022 NET CASH PROVIDED BY OPERATING ACTIVITIES (a) $ 379 $ 636 $ 485 CASH FLOWS FROM INVESTING ACTIVITIES: Return of capital distributions — — 175 Net investments in unconsolidated subsidiaries (355) (309) (390) Net cash used by investing activities (355) (309) (215) CASH FLOWS FROM FINANCING ACTIVITIES: Dividends on UGI Common Stock (318) (308) (296) Issuances of debt, net of issuance costs 1,078 327 597 Repayments of long-term debt (775) (333) (530) Issuances of UGI Common Stock — 12 19 Repurchases of UGI Common Stock — (22) (38) Payments on Purchase Contracts (12) (16) (16) Net cash used by financing activities (27) (340) (264) Cash and cash equivalents (decrease) increase $ (3) $ (13) $ 6 Cash and cash equivalents: End of year $ 4 $ 7 $ 20 Beginning of year 7 20 14 Cash and cash equivalents (decrease) increase $ (3) $ (13) $ 6 (a) Includes dividends received from unconsolidated subsidiaries of $420, $680 and $506 for the years ended September 30, 2024, 2023 and 2022, respectively.

SCHEDULE II _ VALUATION AND QUA

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Sep. 30, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS	UGI CORPORATION AND SUBSIDIARIES SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (Millions of dollars) Balance at Charged Other Balance at Year Ended September 30, 2024 Reserves deducted from assets in the consolidated balance sheet: Allowance for doubtful accounts $ 71 $ 61 $ (64) (1) $ 68 Other reserves: Deferred tax assets valuation allowance $ 141 $ 16 $ (27) (2) $ 130 Year Ended September 30, 2023 Reserves deducted from assets in the consolidated balance sheet: Allowance for doubtful accounts $ 64 $ 69 $ (62) (1) $ 71 Other reserves: Deferred tax assets valuation allowance $ 141 $ (38) $ 38 (2) $ 141 Year Ended September 30, 2022 Reserves deducted from assets in the consolidated balance sheet: Allowance for doubtful accounts $ 53 $ 61 $ (50) (1) $ 64 Other reserves: Deferred tax assets valuation allowance $ 138 $ (14) $ 17 (2) $ 141 (1) Uncollectible accounts written off, net of recoveries. (2) Primarily a notional interest deduction valuation allowance adjustment.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to UGI Corporation	$ 269	$ (1,502)	$ 1,073

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Sep. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our consolidated financial statements are prepared in accordance with GAAP and the rules and regulations of the SEC. 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.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of UGI and its controlled subsidiary companies which are majority owned. We report outside ownership interests in other consolidated but less than 100%-owned subsidiaries, as noncontrolling interests. We eliminate intercompany accounts and transactions when we consolidate.
Equity Method Investments	We account for privately held equity securities of entities without readily determinable fair values in which we do not have control, but have significant influence over operating and financial policies, under the equity method. See Note 21 for additional information on our equity method investments. Investments in equity securities related to entities in which we do not have significant influence over operating and financial policies are generally initially valued at their cost less impairment (if any) and subsequently remeasured at fair value, as applicable, in accordance with the relevant provisions under GAAP.
Effects of Regulation	Effects of Regulation
Fair Value Measurements	Fair Value Measurements The Company applies fair value measurements on a recurring and, as otherwise required under ASC 820, on a nonrecurring basis. Fair value 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 measurements performed on a recurring basis principally relate to derivative instruments and investments held in supplemental executive retirement plan grantor trusts. ASC 820 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. 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. • 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 markets that are not active, 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. • Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. 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. We evaluate the need for credit adjustments to our derivative instrument fair values. These credit adjustments were not material to the fair values of our derivative instruments.
Derivative Instruments	Derivative Instruments Derivative instruments are reported on the Consolidated Balance Sheets at their fair values, unless the NPNS exception is elected. The accounting for changes in fair value depends upon the purpose of the derivative instrument, whether it is subject to regulatory ratemaking mechanisms or if it qualifies and is designated as a hedge for accounting purposes. Certain of our derivative instruments qualify and are designated as cash flow hedges. For cash flow hedges, changes in the fair values of the derivative instruments are recorded in AOCI, 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 occurrence of the forecasted transaction is determined to be no longer probable. Hedge accounting is also discontinued for derivatives that cease to be highly effective. We do not designate our commodity and certain foreign currency derivative instruments as hedges under GAAP. Changes in the fair values of these derivative instruments are reflected in net income. Gains and losses on substantially all of the commodity derivative instruments used by Utilities are included in regulatory assets or liabilities because it is probable such gains or losses will be recoverable from, or refundable to, customers. From time to time, we also enter into net investment hedges. Gains and losses on net investment hedges that relate to our foreign operations are included in the cumulative translation adjustment component in AOCI until such foreign net investment is substantially sold or liquidated. Cash flows from derivative instruments, other than certain net investment hedges, are included in cash flows from operating activities on the Consolidated Statements of Cash Flows. Cash flows from net investment hedges are included in cash flows from investing activities on the Consolidated Statements of Cash Flows.
Business Combination Purchase Price Allocations	Business Combination Purchase Price Allocations From time to time, the Company enters into material business combinations. The purchase price is allocated to the various assets acquired and liabilities assumed at their estimated fair value as of the acquisition date with the residual of the purchase price allocated to goodwill. Fair values of assets acquired and liabilities assumed are based upon available information. Estimating fair values is generally subject to significant judgment, estimates and assumptions especially with respect to intangible assets. The allocation of the purchase price may be modified up to one year after the acquisition date, under certain circumstances, as more information is obtained about the fair value of assets acquired and liabilities assumed.
Foreign Currency Translation	Foreign Currency Translation Balance sheets of international subsidiaries are translated into USD using the exchange rate at the balance sheet date. Income statements and equity investee results are translated into USD 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. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise with the impact of subsequent changes in such rates reflected in the income statement. The functional currency of a significant portion of our international operations is the euro.
Revenue Recognition	Revenue Recognition
Accounts Receivable	Accounts Receivable Accounts receivable are reported on the Consolidated Balance Sheets at the gross outstanding amount adjusted for an allowance for doubtful accounts. Accounts receivable that are acquired are initially recorded at fair value on the date of acquisition. Provisions for uncollectible accounts are established based upon our collection experience, the assessment of the collectability of specific amounts and the Company’s best estimate of current expected credit losses. Accounts receivable are written off in the period in which the receivable is deemed uncollectible.
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 and amortization” on the Consolidated Statements of Income.
Income Taxes	Income Taxes AmeriGas Partners and AmeriGas OLP 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. AmeriGas OLP 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. Utilities records 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. Utilities also records 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 records 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 renewable natural gas property under the Inflation Reduction Act of 2022 are reflected in income taxes.
Earnings Per Common Share	Earnings Per Common Share
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash
Inventories	Inventories Our inventories are stated at the lower of cost or net realizable value. We determine cost using an average cost method for non-utility LPG and natural gas and utility inventories; specific identification for appliances; and the FIFO method for all other inventories. The Company accounts for renewable energy certificates as inventory, which generally represents costs incurred to generate a certificate for sale. The Company recognizes revenue from the sale of renewable energy certificates when control of the certificate is transferred to the buyer, and the cost of the certificate, if any, is then recorded within “Cost of sales” on the Consolidated Statements of Income.
Property, Plant and Equipment and Related Depreciation	Property, Plant and Equipment and Related Depreciation We record property, plant and equipment at the lower of original cost or fair value, if impaired. Capitalized costs include labor, materials and other direct and indirect costs, and for certain operations subject to cost-of-service rate regulation, AFUDC. We also include in property, plant and equipment costs associated with computer software we develop or obtain for use in our businesses. The amounts assigned to property, plant and equipment of acquired businesses are based upon estimated fair value at date of acquisition. When we retire or otherwise dispose of non-utility plant and equipment, we eliminate the associated cost and accumulated depreciation and recognize any resulting gain or loss in "Other operating income, net" on the Consolidated Statements of Income. For property subject to cost of service rate regulation, upon retirement we charge the original cost to accumulated depreciation for financial accounting purposes. Costs incurred to retire UGI Utilities plant and equipment, net of salvage, are recorded in regulatory assets and amortized over five years, consistent with prior ratemaking treatment. We record depreciation expense on non-utility plant and equipment on a straight-line basis over estimated economic useful lives. We record depreciation expense for Utilities’ plant and equipment on a straight-line basis based upon the projected service lives of the various classes of its depreciable property. We classify amortization of computer software and related IT system installation costs included in property, plant and equipment as depreciation expense. No depreciation expense is included in cost of sales on the Consolidated Statements of Income.
Intangible Assets	Intangible Assets.
Goodwill	Goodwill. 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 it constitutes a business for which discrete financial information is available and regularly reviewed by segment management. Components are aggregated into a single reporting unit if they have similar economic characteristics. Each of our reporting units with goodwill is required to perform impairment tests annually or whenever events or circumstances indicate that the value of goodwill may be impaired. 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, we bypass the qualitative assessment and perform the quantitative assessment by comparing the fair values of the reporting units with their carrying amounts, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to such excess but not to exceed the total amount of the goodwill of the reporting unit. With respect to UGI International's Fiscal 2024 goodwill impairment test, the Company bypassed the qualitative assessment and performed a quantitative assessment. Such assessment used a weighting of income and market approaches to determine fair value. With respect to the income approach, management used a discounted cash flow (“DCF”) method, using unobservable inputs. The significant assumptions in our DCF model include projected EBITDA, and a discount rate (and estimates in the discount rate inputs). With respect to the market approach, management used recent transaction market multiples for similar companies. Based on our evaluation, we determined that UGI International’s fair value exceeded its carrying value by less than 30%. While the Company believes that its judgments used in the quantitative assessment of UGI International’s fair value are reasonable based upon currently available facts and circumstances, if UGI International were not able to achieve its anticipated results and/or if its discount rate were to increase, its fair value would be adversely affected, which may result in an impairment. There is $950 of goodwill in this reporting unit as of September 30, 2024. With respect to AmeriGas Propane Fiscal 2024 annual goodwill impairment test, the Company also bypassed the qualitative assessment and performed a quantitative assessment and determined that goodwill was impaired. In addition, during the third quarter of Fiscal 2023, the Company identified interim impairment indicators at its AmeriGas Propane reporting unit and, as such, performed an interim impairment test of its goodwill as of May 31, 2023. Based on such impairment tests, the Company recognized a non-cash pre-tax goodwill impairment charge of $195 and $656 in Fiscal 2024 and Fiscal 2023, respectively. See Note 12 for additional information on the impairment charges at the AmeriGas Propane reporting unit. Accumulated goodwill impairment was $851 and $656 at September 30, 2024 and 2023, respectively. Except for the previously mentioned impairment charges at the AmeriGas Propane reporting unit, there were no other impairments of goodwill recognized in all periods presented. The Company will continue to monitor its reporting units and related goodwill for any possible future non-cash impairment charges.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Impairment testing for long-lived assets (or an asset group) is required when circumstances indicate that such assets may be impaired. If it is determined that a triggering event has occurred, we perform a recoverability test based upon estimated undiscounted cash flow projections expected to be realized over the remaining useful life of the long-lived asset. If the undiscounted cash flows used in the recoverability test are less than the long-lived asset's carrying amount, we determine its fair value. If the fair value is determined to be less than its carrying amount, the long-lived asset is reduced to its estimated fair value and an impairment loss is recognized in an amount equal to such shortfall. When determining whether a long-lived asset has been impaired, management groups assets at the lowest level that has identifiable cash flows that are independent of other assets. The impairments of AmeriGas Propane’s goodwill were determined to be a triggering event requiring an impairment analysis of AmeriGas Propane’s long-lived and definite lived intangible assets. Accordingly, the Company performed a recoverability test of AmeriGas Propane’s long-lived assets, including right-of-use (“ROU”) assets and definite lived intangible assets, as of July 31, 2024, the measurement date of our annual goodwill impairment test, and May 31, 2023, using estimated undiscounted cash flow projections expected to be generated over the remaining useful life of the primary asset of the asset group at the lowest level with identifiable cash flows that are independent of other assets. Based on the recoverability tests performed, we determined that (1) AmeriGas Propane’s long-lived assets, including ROU assets and definite lived intangible assets, were recoverable and, as such, no impairment charges were recorded; and (2) no adjustments to the remaining useful lives were necessary as of July 31, 2024 and May 31, 2023.
Refundable Tank and Cylinder Deposits	Refundable Tank and Cylinder Deposits
Environmental Matters	Environmental Matters We are subject to environmental laws and regulations intended to mitigate or remove the effects 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.
Loss Contingencies Subject to Insurance	Loss Contingencies Subject to Insurance We are subject to risk of loss for general, automobile and product liability, and workers’ compensation claims for which we obtain insurance coverage under insurance policies that are subject to self-insured retentions or deductibles. We record accruals when it is probable that a liability exists and the amount or range of amounts can be reasonably estimated. When no amount within a range of possible loss is a better estimate than any other amount within the range, liabilities recorded are based upon the low end of the range. For litigation and pending claims including those covered by insurance policies, the analysis of probable loss is performed on a case by case basis and includes an evaluation of the nature of the claim, the procedural status of the matter, the probability or likelihood of success in prosecuting or defending the claim, the information available with respect to the claim, the opinions and views of outside counsel and other advisors, and past experience in similar matters. With respect to unasserted claims arising from unreported incidents, we may use the work of specialists to estimate the ultimate losses to be incurred using actuarially determined loss development factors applied to actual claims data. Our estimated reserves for loss contingencies may differ materially from the ultimate liability and such reserves may change materially as more information becomes available and estimated reserves are adjusted. We maintain insurance coverage such that our net exposure for claims covered by insurance would be limited to the self-insured retentions or deductibles, claims above which would be paid by the insurance carrier. For such claims, we record a receivable related to the amount of the liability expected to be paid by insurance.
Employee Retirement Plans	Employee Retirement Plans
New Accounting Standard Adopted in Fiscal 2024	New Accounting Standard Adopted in Fiscal 2024 Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40)” which requires enhanced disclosure of income statement expense categories to improve transparency and provide financial statement users with more detailed information about the nature, amount and timing of expenses impacting financial performance. This new guidance is effective for the Company for annual periods beginning October 1, 2027 (Fiscal 2028) and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Segment Reporting. In November 2023, the FASB issued ASU 2023-07, “Improvements to Reportable Segment Disclosures (Topic 280)” which requires enhanced disclosure of (1) significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, (2) the amount and description of the composition of other segment items which reconcile to segment profit or loss, and (3) the title and position of the entity’s CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and allocating resources. The amendments also expand the interim segment disclosure requirements. This new guidance is effective for the Company for annual periods beginning October 1, 2024 (Fiscal 2025) and interim periods beginning October 1, 2025 (Fiscal 2026). Early adoption is permitted. The amendments in this ASU apply retrospectively to all prior periods presented in the financial statements. The Company will adopt the new guidance effective for the year ending September 30, 2025 and provide the additional disclosures as required by the new guidance. Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures (Topic 740)” which requires entities to disclose, among other items, disaggregated information about a reporting entity’s effective tax rate reconciliation and income taxes paid. This new guidance is effective for the Company for annual periods beginning October 1, 2025 (Fiscal 2026). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Shares used in Computing Basic and Diluted Earnings Per Share	Shares used in computing basic and diluted earnings per share are as follows: (Thousands of shares) 2024 2023 2022 Weighted-average common shares outstanding for basic computation 211,309 209,806 209,940 Incremental shares issuable for stock options, common stock awards and Equity Units (a) (b) 3,962 — 5,881 Weighted-average common shares outstanding for diluted computation 215,271 209,806 215,821 (a) For Fiscal 2024 and Fiscal 2022, 8,619 and 8,138 shares, respectively, associated with outstanding stock option awards were excluded from the computation of diluted earnings per share because their effect was antidilutive. For Fiscal 2023, 6,132 of such shares have been excluded as such incremental shares would be antidilutive due to the net loss for the period. (b) The Equity Units were settled in June 2024. See Note 13 for additional information.
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of the total cash, cash equivalents and restricted cash reported on the Consolidated Balance Sheets to the corresponding amounts reported on the Consolidated Statements of Cash Flows. 2024 2023 2022 Cash and cash equivalents $ 213 $ 241 $ 405 Restricted cash 15 99 64 Cash, cash equivalents and restricted cash $ 228 $ 340 $ 469
Schedule of Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of the total cash, cash equivalents and restricted cash reported on the Consolidated Balance Sheets to the corresponding amounts reported on the Consolidated Statements of Cash Flows. 2024 2023 2022 Cash and cash equivalents $ 213 $ 241 $ 405 Restricted cash 15 99 64 Cash, cash equivalents and restricted cash $ 228 $ 340 $ 469

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues by Reportable Segment	The following tables present our disaggregated revenues by reportable segment: 2024 Total Eliminations Utilities Midstream & Marketing UGI International AmeriGas Propane Corporate & Other Revenues from contracts with customers: Utility: Core Market: Residential $ 873 $ — $ 873 $ — $ — $ — $ — Commercial & Industrial 344 — 344 — — — — Large delivery service 183 — 183 — — — — Off-system sales and capacity releases 67 (48) 115 — — — — Other 36 (1) 37 — — — — Total Utility 1,503 (49) 1,552 — — — — Non-Utility: LPG: Retail 3,733 — — — 1,816 1,917 — Wholesale 270 — — — 180 90 — Energy Marketing (b) 980 (96) — 948 170 — (42) Midstream: Pipeline 246 — — 246 — — — Peaking 10 (121) — 131 — — — Other 16 — — 16 — — — Electricity Generation 27 — — 27 — — — Other 260 — — — 74 186 — Total Non-Utility 5,542 (217) — 1,368 2,240 2,193 (42) Total revenues from contracts with customers 7,045 (266) 1,552 1,368 2,240 2,193 (42) Other revenues (c) 165 — 46 1 39 78 1 Total revenues $ 7,210 $ (266) $ 1,598 $ 1,369 $ 2,279 $ 2,271 $ (41) 2023 Total Eliminations Utilities Midstream & Marketing UGI International AmeriGas Propane Corporate & Other Revenues from contracts with customers: Utility: Core Market: Residential $ 1,020 $ — $ 1,020 $ — $ — $ — $ — Commercial & Industrial 413 — 413 — — — — Large delivery service 177 — 177 — — — — Off-system sales and capacity releases 89 (73) 162 — — — — Other 43 (1) 44 — — — — Total Utility 1,742 (74) 1,816 — — — — Non-Utility: LPG: Retail 3,952 — — — 1,768 2,184 — Wholesale 325 — — — 207 118 — Energy Marketing 2,139 (143) — 1,410 872 — — Midstream: Pipeline 251 — — 251 — — — Peaking 31 (106) — 137 — — — Other 14 — — 14 — — — Electricity Generation 33 — — 33 — — — Other 274 — — — 80 194 — Total Non-Utility 7,019 (249) — 1,845 2,927 2,496 — Total revenues from contracts with customers 8,761 (323) 1,816 1,845 2,927 2,496 — Other revenues (c) 167 (3) 38 2 38 85 7 Total revenues $ 8,928 $ (326) $ 1,854 $ 1,847 $ 2,965 $ 2,581 $ 7 2022 Total Eliminations Utilities Midstream & Marketing UGI International AmeriGas Propane Corporate & Other Revenues from contracts with customers: Utility: Core Market: Residential $ 875 $ — $ 875 $ — $ — $ — $ — Commercial & Industrial 365 — 365 — — — — Large delivery service 171 — 171 — — — — Off-system sales and capacity releases 76 (104) 180 — — — — Other 23 (1) 24 — — — — Total Utility 1,510 (105) 1,615 — — — — Non-Utility: LPG: Retail 4,436 — — — 1,997 2,439 — Wholesale 496 — — — 278 218 — Energy Marketing 2,951 (264) — 1,917 1,298 — — Midstream: Pipeline 211 — — 211 — — — Peaking 48 (105) — 153 — — — Other 9 — — 9 — — — Electricity Generation 34 — — 34 — — — Other 286 — — — 79 207 — Total Non-Utility 8,471 (369) — 2,324 3,652 2,864 — Total revenues from contracts with customers 9,981 (474) 1,615 2,324 3,652 2,864 — Other revenues (c) 125 (3) 5 2 34 79 8 Total revenues $ 10,106 $ (477) $ 1,620 $ 2,326 $ 3,686 $ 2,943 $ 8 (a) Includes intersegment revenues principally among Midstream & Marketing, Utilities and AmeriGas Propane. (b) Corporate & Other includes reduction of revenues of $42 associated with the early termination of certain DVEP customer contracts. See Note 5 for additional information. (c) Primarily represents (1) revenues from tank rentals at UGI International and AmeriGas Propane; (2) revenues from certain gathering assets at Midstream & Marketing; (3) revenues from alternative revenue programs at Utilities, including the weather normalization adjustment rider beginning on November 1, 2022 for PA Gas Utility; and (4) gains and losses on commodity derivative instruments not associated with current-period transactions reflected in Corporate & Other, none of which are within the scope of ASC 606 and are accounted for in accordance with other GAAP.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Credit Facilities and Short-term Borrowings	Information about the Company’s principal credit agreements (excluding the Energy Services Receivables Facility, which is discussed below) as of September 30, 2024 and 2023, is presented in the following table. Borrowings under these credit agreements bear interest at rates indexed to short-term market rates. Borrowings outstanding under these agreements (other than the UGI Corporation Credit Facility Agreement) are classified as “Short-term borrowings” on the Consolidated Balance Sheets. Expiration Date Total Capacity Borrowings Outstanding Letters of Credit and Guarantees Outstanding Available Borrowing Capacity Weighted Average Interest Rate - End of Year September 30, 2024 AmeriGas OLP (a) August 2029 $ 200 $ 51 $ — $ 149 7.29 % UGI International, LLC (b) March 2028 € 500 € 115 € — € 385 4.88 % Energy Services (c) May 2028 $ 300 $ — $ — $ 300 N.A. UGI Utilities (d) November 2028 $ 375 $ 190 $ — $ 185 5.92 % Mountaineer (e) December 2025 $ 150 $ 96 $ — $ 54 6.56 % UGI Corporation (f) August 2025 $ 300 $ 115 $ — $ 185 7.45 % September 30, 2023 AmeriGas OLP (a) September 2026 $ 600 $ — $ 2 $ 598 N.A. UGI International, LLC (b) March 2028 € 500 € 202 € — € 298 5.17 % Energy Services (c) March 2025 $ 260 $ 57 $ — $ 203 7.67 % UGI Utilities (d) June 2024 $ 425 $ 248 $ — $ 177 6.30 % Mountaineer (e) November 2024 $ 150 $ 84 $ — $ 66 6.68 % UGI Corporation (f) May 2025 $ 300 $ 283 $ — $ 17 7.80 % (a) In October 2024, AmeriGas OLP entered into the first amendment to the AmeriGas Senior Secured Revolving Credit Facility which increased the total commitments to $300. At September 30, 2024 the AmeriGas Senior Secured Revolving Credit Facility includes a $20 sublimit for letters of credit. The maximum amount available for borrowing at any time under the AmeriGas Senior Secured Revolving Credit Facility is limited to the borrowing base valuation, as defined by the agreement. At September 30, 2023 the 2022 AmeriGas OLP Credit Agreement included a $100 sublimit for letters of credit. (b) Permits UGI International, LLC or UGI International Holdings B.V. to borrow in euros or USD. (c) The Energy Services Credit Agreement includes a $50 sublimit for letters of credit and is guaranteed by certain subsidiaries of Energy Services. (d) The UGI Utilities 2023 Credit Agreement includes a $50 sublimit for letters of credit. On November 9, 2023, UGI Utilities entered into the UGI Utilities 2023 Credit Agreement and concurrently terminated the UGI Utilities Credit Agreement, a predecessor agreement, which included a $100 sublimit for letters of credit. (e) The Mountaineer 2023 Credit Agreement includes a $20 sublimit for letters of credit. (f) Because management intends to maintain a substantial portion of its revolving credit facility borrowings on a long-term basis, such borrowings, (other than amounts repaid subsequent to the balance sheet date but prior to the issuance of the financial statements) are classified as “Long-term debt” on the Consolidated Balance Sheets. Amounts outstanding under UGI’s revolving credit facility at September 30, 2024 were repaid in October 2024 with proceeds from the issuance of the UGI Corporation 2025 Credit Agreement revolving credit facility and have been classified as long-term debt as of September 30, 2024, based on the Company’s intent and ability to refinance the obligation with long-term debt issued under the UGI Corporation 2025 Credit Agreement. N.A. - Not applicable
Schedule of Receivables Facility	Information regarding the amounts of trade receivables transferred to ESFC and the amounts sold to the bank are as follows: 2024 2023 2022 Trade receivables transferred to ESFC during the year $ 1,324 $ 1,946 $ 2,221 ESFC trade receivables sold to the bank during the year $ 336 $ 535 $ 152 ESFC trade receivables - end of year (a) $ 51 $ 62 $ 101 (a) At September 30, 2024, there were no ESFC trade receivables sold to the bank. At September 30, 2023 there were $46 of ESFC trade receivables sold to the bank and is reflected as “Short-term borrowings” on the Consolidated Balance Sheets.
Schedule of Long-term Debt Instruments	Long-term debt comprises the following at September 30: 2024 2023 Utilities: UGI Utilities Senior Notes: 4.12% due September 2046 $ 200 $ 200 4.98% due March 2044 175 175 3.12% due April 2050 150 150 4.55% due February 2049 150 150 4.12% due October 2046 100 100 6.21% due September 2036 100 100 2.95% due June 2026 100 100 1.59% due June 2026 100 100 1.64% due September 2026 75 75 4.75% due July 2032 90 90 4.99% due September 2052 85 85 6.02% due November 2030 25 — 6.10% due November 2033 150 — 6.40% due November 2053 75 — UGI Utilities Medium-Term Notes: 6.13% due October 2034 20 20 6.50% due August 2033 20 20 Mountaineer senior notes (a) 196 199 UGI Utilities variable-rate term loan due through July 2027 (b) 83 89 Other 2 2 Unamortized debt issuance costs (7) (6) Total Utilities 1,889 1,649 Midstream & Marketing: Energy Services variable-rate term loan due through February 2030 (c) 786 794 Other 41 41 Unamortized discount and debt issuance costs (13) (15) Total Midstream & Marketing 814 820 UGI International: 2.50% Senior Notes due December 2029 446 424 UGI International, LLC variable-rate term loan due March 2028 (d) 335 317 Other 12 6 Unamortized debt issuance costs (6) (8) Total UGI International 787 739 AmeriGas Propane: AmeriGas Partners Senior Notes: 5.50% due May 2025 218 700 5.875% due August 2026 664 675 5.75% due May 2027 512 525 9.375% due May 2028 493 500 Unamortized debt issuance costs (10) (15) Total AmeriGas Propane 1,877 2,385 UGI Corporation: UGI Corporation Credit Facilities: UGI Corporation revolving credit facility maturing August 2025 (e) 115 283 UGI Corporation variable-rate term loan due August 2025 (f) 300 300 UGI Corporation variable-rate term loan due through August 2025 (g) — 212 UGI Corporation variable-rate term loan due August 2025 (h) 215 215 UGI Corporation senior notes due June 2028 700 — Unamortized debt issuance costs (19) (3) Total UGI Corporation 1,311 1,007 Total long-term debt 6,678 6,600 Less: current maturities (235) (57) Total long-term debt due after one year $ 6,443 $ 6,543 (a) Total long-term debt at September 30, 2024 and 2023, comprises $180 principal amount of Mountaineer senior secured notes plus unamortized premium of $16 and $19, respectively. The face interest rates on the Mountaineer senior notes range from 3.50% to 4.49%, with maturities ranging from 2027 to 2052. (b) At September 30, 2024 and 2023, the effective interest rate on this term loan was 3.92%. We have entered into a pay-fixed, receive-variable interest rate swap to effectively fix the underlying variable rate at approximately 2.82% on a portion of these borrowings through June 2026. Term loan borrowings are due in equal quarterly installments of $2, with the balance of the principal being due in full at maturity. (c) At September 30, 2024 and 2023, the effective interest rates on the term loan were 7.09% and 7.82%, respectively. We have entered into a pay-fixed, receive-variable interest rate swap to effectively fix a substantial portion of the underlying variable rate at 4.53% on these borrowings through September 2026. Term loan borrowings are due in equal quarterly installments of $2, with the balance of the principal being due in full at maturity. Under certain circumstances, Energy Services is required to make additional principal payments if the consolidated total leverage ratio, as defined, is greater than defined thresholds. This term loan is collateralized by substantially all of the assets of Energy Services, subject to certain exceptions and carveouts including, but not limited to, accounts receivable and certain real property. (d) At September 30, 2024, the effective interest rate on the term loan was 4.95%. We have entered into a pay-fixed, receive-variable interest rate swap that fixes the underlying variable rate at 3.10% through March 2026. (e) At September 30, 2024 and 2023, the effective interest rates on credit facility borrowings were 7.45% and 7.80%, respectively. (f) At September 30, 2024 and 2023, the effective interest rates on the term loan were 6.09% and 2.77%, respectively. We have entered into pay-fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate at approximately 3.61% on these borrowings through September 2027. (g) At September 30, 2023 the effective interest rate on the term loan was 7.79%. The term loan was repaid early in June 2024. (h) At September 30, 2024 and 2023, the effective interest rates on the term loan were 6.75% and 4.73%, respectively. We have entered into pay-fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate at approximately 3.61% on a portion of these borrowings through September 2027.
Schedule of Principal Repayments of Long-term Debt	Scheduled principal repayments of long-term debt for each of the next five fiscal years ending September 30 are as follows: 2025 2026 2027 2028 2029 Utilities $ 7 $ 281 $ 64 $ 40 $ — Midstream & Marketing 8 8 8 8 8 UGI International 2 2 2 336 2 AmeriGas Propane 218 664 512 493 — UGI Corporation (a) — — — 700 — Total $ 235 $ 955 $ 586 $ 1,577 $ 10 (a) Subsequent to September 30, 2024, UGI entered into the UGI Corporation 2025 Credit Agreement, consisting of (1) a $475 revolving credit facility, including a $10 sublimit for letters of credit, scheduled to expire in October 2028 and (2) a $400 variable-rate term loan, schedule to mature in October 2027 and concurrently paid in full and terminated its existing UGI Corporation Credit Facility Agreement which was set to mature August 29, 2025. At September 30, 2024, borrowings outstanding under the credit facility due August 29, 2025, were classified as long-term debt based on the Company’s intent and ability to refinance the obligation with long-term debt.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) Before Income Taxes	Income (loss) before income taxes comprises the following: 2024 2023 2022 Domestic $ 305 $ (346) $ 362 Foreign 35 (1,491) 1,025 Total income (loss) before income taxes $ 340 $ (1,837) $ 1,387
Schedule of Provisions for Income Taxes	The provisions for income taxes consist of the following: 2024 2023 2022 Current expense (benefit): Federal $ (25) $ (1) $ 24 State 12 37 18 Foreign 32 49 50 Total current expense 19 85 92 Deferred expense (benefit): Federal 82 34 45 State 34 (21) (17) Foreign (64) (433) 193 Total deferred expense (benefit) 52 (420) 221 Total income tax expense (benefit) $ 71 $ (335) $ 313
Schedule of Reconciliation of U.S. Federal Statutory Tax Rate to Effective Tax Rate	A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows: 2024 2023 2022 U.S. federal statutory tax rate 21.0 % 21.0 % 21.0 % Difference in tax rate due to: Goodwill impairment not deductible for tax 11.6 (7.3) — State income taxes, net of federal benefit 6.8 (1.7) 2.3 Investment tax credits (6.8) 0.5 — Valuation allowance adjustments (6.3) 1.1 (0.5) Regulated entity depreciation normalization (4.5) 0.7 (0.8) Notional interest deduction (3.8) 0.7 (0.9) Effects of tax rate changes – State, net of federal benefit 3.6 0.2 (1.4) State NOL adjustment upon disposition 2.4 — — Uncertain tax positions (2.4) (0.7) — Impairment of equity investment 2.2 — — Federal refund interest accrual (1.1) — — Effects of foreign operations 0.1 3.1 5.3 Effects of tax rate changes - International — — (2.3) Other, net (1.9) 0.6 (0.1) Effective tax rate 20.9 % 18.2 % 22.6 %
Schedule of Deferred Tax Liabilities (Assets)	Deferred tax liabilities (assets) comprise the following at September 30: 2024 2023 Excess book basis over tax basis of property, plant and equipment $ 994 $ 966 Intangible assets and goodwill 86 81 Utility regulatory assets 74 84 Investment in AmeriGas Partners 31 — Derivative instrument assets — 19 Other 50 37 Gross deferred tax liabilities 1,235 1,187 Interest expense (118) (83) Operating loss carryforwards (72) (75) Utility regulatory liabilities (72) (83) Foreign tax credit carryforwards (49) (64) Employee-related benefits (33) (37) Investment tax credits (26) — Utility environmental liabilities (16) (15) Pension plan liabilities (8) (14) Derivative instrument liabilities (3) — Investment in AmeriGas Partners — (28) Other (58) (58) Gross deferred tax assets (455) (457) Deferred tax assets valuation allowance 130 141 Net deferred tax liabilities $ 910 $ 871
Schedule of Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: 2024 2023 2022 Unrecognized tax benefits — beginning of year $ 26 $ 5 $ 3 Additions for tax positions of the current year 4 3 2 Decreases for tax positions taken in prior years (11) — — Increases for tax positions taken in prior years — 19 1 Settlements with tax authorities/statute lapses (1) (1) (1) Unrecognized tax benefits — end of year $ 18 $ 26 $ 5

Employee Retirement Plans (Tabl

Employee Retirement Plans (Tables)	12 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Change in Pension Benefits and Other Postretirement Benefits Obligations	The following table provides a reconciliation of the PBOs of our pension plans (the U.S. Pension Plans and the UGI International pension plans), plan assets, and the related funded status of our pension plans as of September 30, 2024 and 2023. 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 Benefits 2024 2023 Change in benefit obligations: Benefit obligations — beginning of year $ 623 $ 633 Service cost 8 9 Interest cost 36 35 Actuarial loss (gain) 76 (20) Foreign currency 2 2 Benefits paid (38) (36) Benefit obligations — end of year (a) $ 707 $ 623 Change in plan assets: Fair value of plan assets — beginning of year $ 556 $ 541 Actual gain (loss) on plan assets 118 31 Foreign currency 1 1 Employer contributions 19 19 Benefits paid (37) (36) Fair value of plan assets — end of year $ 657 $ 556 Funded status of the plans — end of year (b) $ (50) $ (67) Amounts recorded in UGI Corporation stockholders’ equity (pre-tax): Prior service cost $ 3 $ 3 Net actuarial gain (9) (17) Total $ (6) $ (14) Amounts recorded in regulatory assets and liabilities (pre-tax): Net actuarial loss $ 106 $ 110 Total $ 106 $ 110 (a) The ABOs of the U.S. Pension Plans were $633 and $558 as of September 30, 2024 and 2023, respectively. (b) Amounts are reflected in “Other noncurrent liabilities” and “Other assets” on the Consolidated Balance Sheets. Amounts reflected in “Other assets” are not material.
Schedule of Actuarial Assumptions for U.S. Plans	The expected rate of return on assets assumption is based on current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below). Pension Plans 2024 2023 2022 Weighted-average assumptions: Discount rate – benefit obligations 5.05 % 6.09 % 5.70 % Discount rate – benefit cost 6.09 % 5.70 % 3.13 % Expected return on plan assets 7.50 % 7.50 % 7.10 % Rate of increase in salary levels 3.25 % 3.25 % 3.25 %
Schedule of Net Periodic Pension (Income) Cost	Net periodic pension (income) cost includes the following components: Pension Benefits 2024 2023 2022 Service cost $ 8 $ 9 $ 16 Interest cost 36 35 26 Expected return on assets (44) (45) (50) Amortization of: Actuarial loss (gain) 1 (3) 7 Net benefit cost (income) $ 1 $ (4) $ (1)
Schedule of Expected Payments for Pension Benefits and Other Postretirement Welfare Benefits	Expected payments for pension benefits are as follows: Pension Fiscal 2025 $ 40 Fiscal 2026 $ 41 Fiscal 2027 $ 44 Fiscal 2028 $ 46 Fiscal 2029 $ 49 Fiscal 2030 - 2034 $ 242
Schedule of Pension Plans	The targets and actual allocations for the U.S. Pension Plans’ trust assets at September 30 are as follows: Actual Target Asset Allocation (a) 2024 2023 2024 2023 Equity investments 52.4 % 61.4 % 53.2 % 61.6 % Fixed income funds & cash equivalents 44.9 % 35.5 % 43.4 % 35.0 % Alternative investments 2.7 % 3.1 % 3.4 % 3.4 % Total 100.0 % 100.0 % 100.0 % 100.0 % (a) There is a permitted range for the allocation of the trust assets for the U.S. Pension Plans which is 5% less than and greater than the target allocation.
Schedule of Fair Value of U.S. Pension Plan and VEBA Trust Assets	The fair values of the U.S. Pension Plans trust assets by asset class as of September 30, 2024 and 2023 are as follows: 2024 2023 U.S. Pension Plans: Domestic equity investments: UGI Corporation Common Stock $ 20 $ 19 Total domestic equity investments (a) 20 19 Common collective trust funds: U.S. equity index investments 188 120 Non-U.S. equity index investments 96 117 Global equity index investments 29 75 Bond index investments 274 183 Cash equivalents 11 8 Total common collective trust funds (b) 598 503 Alternative investments (b) 17 17 Total $ 635 $ 539 (a) Level 1 investments within the fair value hierarchy. (b) Assets measured at NAV and therefore excluded from the fair value hierarchy.

Utility Regulatory Assets and_2

Utility Regulatory Assets and Liabilities and Regulatory Matters (Tables)	12 Months Ended
	Sep. 30, 2024
Regulated Operations [Abstract]
Schedule of Regulatory Assets	The following regulatory assets and liabilities associated with our Utilities reportable segment are included in our Consolidated Balance Sheets at September 30: 2024 2023 Regulatory assets (a): Income taxes recoverable $ 105 $ 94 Underfunded pension plans 106 111 Environmental costs 28 28 Deferred fuel and power costs — 27 Removal costs, net 28 23 Other 52 64 Total regulatory assets $ 319 $ 347 Regulatory liabilities (a): Postretirement benefits $ 13 $ 12 Deferred fuel and power refunds 17 55 State income tax benefits — distribution system repairs 44 43 Excess federal deferred income taxes 247 254 Other 8 2 Total regulatory liabilities $ 329 $ 366 (a) Current regulatory assets are recorded in “Other current assets” on the Consolidated Balance Sheets. Regulatory liabilities are recorded in “Other current liabilities” and “Other noncurrent liabilities” on the Consolidated Balance Sheets.
Schedule of Regulatory Liabilities	The following regulatory assets and liabilities associated with our Utilities reportable segment are included in our Consolidated Balance Sheets at September 30: 2024 2023 Regulatory assets (a): Income taxes recoverable $ 105 $ 94 Underfunded pension plans 106 111 Environmental costs 28 28 Deferred fuel and power costs — 27 Removal costs, net 28 23 Other 52 64 Total regulatory assets $ 319 $ 347 Regulatory liabilities (a): Postretirement benefits $ 13 $ 12 Deferred fuel and power refunds 17 55 State income tax benefits — distribution system repairs 44 43 Excess federal deferred income taxes 247 254 Other 8 2 Total regulatory liabilities $ 329 $ 366 (a) Current regulatory assets are recorded in “Other current assets” on the Consolidated Balance Sheets. Regulatory liabilities are recorded in “Other current liabilities” and “Other noncurrent liabilities” on the Consolidated Balance Sheets.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	Inventories comprise the following at September 30: 2024 2023 Non-utility LPG and natural gas $ 195 $ 212 Gas Utility natural gas 50 55 Energy certificates 69 64 Materials, supplies and other 97 102 Total inventories $ 411 $ 433

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment comprise the following at September 30: 2024 2023 Estimated Useful Life Utility: Distribution $ 5,595 $ 5,204 Transmission 125 123 General and other 706 660 Work in process 94 95 Total Utility 6,520 6,082 Non-utility: Land 172 174 Buildings and improvements 429 418 10 - 40 years Transportation equipment 233 238 3 - 10 years Equipment, primarily cylinders and tanks 3,985 3,903 5 - 30 years Electric generation 48 190 25 - 40 years Pipeline and related assets 1,598 1,577 25 - 40 years Other 430 390 1 - 12 years Work in process 258 156 Total non-utility 7,153 7,046 Total property, plant and equipment $ 13,673 $ 13,128
Schedule of Average Composite Depreciation Rates	The average composite depreciation rates at our Gas Utility and Electric Utility were as follows: 2024 2023 2022 Regulated natural gas utilities 2.6 % 2.4 % 2.6 % Electric Utility 2.5 % 2.3 % 2.4 %

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by reportable segment are as follows: Utilities Midstream & Marketing UGI International AmeriGas Total Balance September 30, 2022 $ 432 $ 336 $ 840 $ 2,004 $ 3,612 Impairment of goodwill — — — (656) (656) Acquisitions — — 3 — 3 Foreign currency translation — — 68 — 68 Balance September 30, 2023 432 336 911 1,348 3,027 Impairment of goodwill — — — (195) (195) Dispositions — — (12) — (12) Foreign currency translation — — 51 — 51 Balance September 30, 2024 $ 432 $ 336 $ 950 $ 1,153 $ 2,871
Schedule of Finite-Lived Intangible Assets	Intangible assets comprise the following at September 30: 2024 2023 Customer relationships $ 985 $ 977 Trademarks and tradenames 4 4 Noncompete agreements and other 27 26 Accumulated amortization (665) (602) Intangible assets, net (definite-lived) 351 405 Trademarks and tradenames (indefinite-lived) 40 38 Total intangible assets, net $ 391 $ 443
Schedule of Indefinite-Lived Intangible Assets	Intangible assets comprise the following at September 30: 2024 2023 Customer relationships $ 985 $ 977 Trademarks and tradenames 4 4 Noncompete agreements and other 27 26 Accumulated amortization (665) (602) Intangible assets, net (definite-lived) 351 405 Trademarks and tradenames (indefinite-lived) 40 38 Total intangible assets, net $ 391 $ 443

Equity (Tables)

Equity (Tables)	12 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Common Stock Share Activity	UGI Preferred Stock and Common Stock share activity for Fiscal 2024, Fiscal 2023 and Fiscal 2022 is as follows: Preferred Stock Common Stock Issued/Outstanding Issued Treasury Outstanding Balance at September 30, 2021 220,000 209,843,296 (627,161) 209,216,135 Issued: Employee and director plans — 717,198 799,152 1,516,350 Repurchases of common stock — — (900,000) (900,000) Reacquired common stock – employee and director plans — — (250,273) (250,273) Balance at September 30, 2022 220,000 210,560,494 (978,282) 209,582,212 Issued: Employee and director plans — 345,558 167,313 512,871 Repurchases of common stock — — (600,000) (600,000) Balance at September 30, 2023 220,000 210,906,052 (1,410,969) 209,495,083 Issued: Settlement of Equity Units (220,000) 5,054,030 — 5,054,030 Employee and director plans — 164,250 (27,751) 136,499 Balance at September 30, 2024 — 216,124,332 (1,438,720) 214,685,612

Leases (Tables)

Leases (Tables)	12 Months Ended
	Sep. 30, 2024
Leases [Abstract]
ROU Assets and Lease Liabilities	ROU assets and lease liabilities recorded in the Consolidated Balance Sheets as of September 30 are as follows: 2024 2023 Location on the Balance Sheet ROU assets: Operating lease ROU assets $ 417 $ 420 Other assets Finance lease ROU assets 54 50 Property, plant and equipment Total ROU assets $ 471 $ 470 Lease liabilities: Operating lease liabilities — current $ 86 $ 87 Other current liabilities Operating lease liabilities — noncurrent 343 340 Other noncurrent liabilities Finance lease liabilities — current 3 5 Current maturities of long-term debt Finance lease liabilities — noncurrent 52 45 Long-term debt Total lease liabilities $ 484 $ 477
Components of Lease Cost, Cash and Non-cash Lease Liability Activity, Weighted-average Remaining Lease Term and Discount Rate	The components of lease cost for Fiscal 2024, Fiscal 2023 and Fiscal 2022 are as follows: 2024 2023 2022 Operating lease cost $ 111 $ 104 $ 96 Finance lease cost: Amortization of ROU assets 4 3 4 Interest on lease liabilities 3 3 3 Variable lease cost 1 2 6 Short-term lease cost 10 4 2 Total lease cost $ 129 $ 116 $ 111 The following table presents the cash and non-cash activity related to lease liabilities included in the Consolidated Statements of Cash Flows during Fiscal 2024, Fiscal 2023 and Fiscal 2022: 2024 2023 2022 Cash paid related to lease liabilities: Operating cash flows — operating leases $ 109 $ 103 $ 95 Operating cash flows — finance leases $ 4 $ 3 $ 3 Financing cash flows — finance leases $ 2 $ 1 $ 2 Non-cash lease liability activities: ROU assets obtained in exchange for operating lease liabilities $ 84 $ 136 $ 72 ROU assets obtained in exchange for finance lease liabilities $ 7 $ 6 $ 2 The following table presents the weighted-average remaining lease term and weighted-average discount rate: Weighted-average remaining lease term (in years) 2024 2023 Operating leases 6.8 7.1 Finance leases 6.7 5.3 Weighted-average discount rate (%) 2024 2023 Operating leases 4.8% 4.5% Finance leases 6.9% 2.2%
Schedule of Expected Annual Lease Payments Based on Maturities of Operating Leases	Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Consolidated Balance Sheet, as of September 30, 2024, were as follows: 2025 2026 2027 2028 2029 After 2029 Total Lease Payments Imputed Interest Lease Liabilities Operating leases $ 102 $ 88 $ 75 $ 63 $ 50 $ 122 $ 500 $ (71) $ 429 Finance leases $ 6 $ 6 $ 6 $ 5 $ 4 $ 76 $ 103 $ (48) $ 55
Schedule of Expected Annual Lease Payments Based on Maturities of Finance Leases	Expected annual lease payments based on maturities of operating and finance leases, as well as a reconciliation to the lease liabilities on the Consolidated Balance Sheet, as of September 30, 2024, were as follows: 2025 2026 2027 2028 2029 After 2029 Total Lease Payments Imputed Interest Lease Liabilities Operating leases $ 102 $ 88 $ 75 $ 63 $ 50 $ 122 $ 500 $ (71) $ 429 Finance leases $ 6 $ 6 $ 6 $ 5 $ 4 $ 76 $ 103 $ (48) $ 55

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents, on a gross basis, our financial assets and liabilities, including both current and noncurrent portions, that are measured at fair value on a recurring basis within the fair value hierarchy as described in Note 2: Asset (Liability) Level 1 Level 2 Level 3 Total September 30, 2024: Derivative instruments: Assets: Commodity contracts $ 106 $ 27 $ — $ 133 Foreign currency contracts $ — $ 6 $ — $ 6 Interest rate contracts $ — $ 1 $ — $ 1 Liabilities: Commodity contracts $ (120) $ (32) $ — $ (152) Foreign currency contracts $ — $ (9) $ — $ (9) Interest rate contracts $ — $ (22) $ — $ (22) Non-qualified supplemental postretirement grantor trust investments (a) $ 43 $ — $ — $ 43 September 30, 2023 Derivative instruments: Assets: Commodity contracts (b) $ 117 $ 115 $ — $ 232 Foreign currency contracts $ — $ 38 $ — $ 38 Interest rate contracts $ — $ 28 $ — $ 28 Liabilities: Commodity contracts (b) $ (193) $ (81) $ — $ (274) Foreign currency contracts $ — $ (2) $ — $ (2) Non-qualified supplemental postretirement grantor trust investments (a) $ 39 $ — $ — $ 39 (a) Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans (see Note 8). (b) Includes derivative assets and liabilities associated with certain UGI International energy marketing business transactions that qualified for held for sale accounting and are included in “Other current assets” and “Other current liabilities” on the Consolidated Balance Sheets (see Note 5).
Schedule of Carrying Amount and Estimated Fair Value of Long-term Debt	The carrying amounts and estimated fair values of our long-term debt (including current maturities but excluding unamortized debt issuance costs) were as follows: 2024 2023 Carrying amount $ 6,733 $ 6,647 Estimated fair value $ 6,663 $ 6,238

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts Related to Open Derivative Contracts	The following table summarizes by derivative type the gross notional amounts related to open derivative contracts at September 30, 2024 and 2023 and the final settlement dates of the Company's open derivative contracts as of September 30, 2024, but excluding those derivatives that qualified for the NPNS exception: Notional Amounts September 30, Type Units Settlements Extending Through 2024 2023 Commodity Price Risk: Regulated Utility Operations PA Gas Utility NYMEX natural gas futures and option contracts Dekatherms September 2025 26 38 Non-utility Operations LPG swaps Gallons December 2026 458 727 Natural gas futures, forward, basis swap, options and pipeline contracts (a) Dekatherms March 2028 325 338 Electricity forward and futures contracts Kilowatt hours December 2027 1,113 1,260 Interest Rate Risk: Interest rate swaps Euro March 2026 € 300 € 300 Interest rate swaps USD September 2027 $ 1,231 $ 1,270 Foreign Currency Exchange Rate Risk: Forward foreign currency exchange contracts USD September 2027 $ 389 $ 425 Net investment hedge forward foreign exchange contracts Euro December 2026 € 181 € 256 (a) Amounts at September 30, 2023 include contracts associated with certain UGI International energy marketing business transactions that qualified for held for sale accounting treatment (see Note 5).
Schedule of Derivative Assets, Liabilities and the Effects of Offsetting	The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting, as of September 30: 2024 2023 Derivative assets: Derivatives designated as hedging instruments: Foreign currency contracts $ 6 $ 14 Interest rate contracts 1 28 7 42 Derivatives subject to PGC and DS mechanisms: Commodity contracts 4 6 Derivatives not designated as hedging instruments: Commodity contracts (a) 129 226 Foreign currency contracts — 24 129 250 Total derivative assets – gross 140 298 Gross amounts offset in the balance sheet (88) (124) Cash collateral received (14) (40) Total derivative assets – net $ 38 $ 134 Derivative liabilities: Derivatives designated as hedging instruments: Interest rate contracts $ (22) $ — Derivatives subject to PGC and DS mechanisms: Commodity contracts (1) (8) Derivatives not designated as hedging instruments: Commodity contracts (a) (151) (266) Foreign currency contracts (9) (2) (160) (268) Total derivative liabilities – gross (183) (276) Gross amounts offset in the balance sheet 88 124 Cash collateral pledged 36 53 Total derivative liabilities – net $ (59) $ (99) (a) Amounts at September 30, 2023 include derivative contracts associated with certain UGI International energy marketing business transactions (see Note 5). The related derivative assets and liabilities qualify for held for sale accounting treatment and are included in “Other current assets ” and “Other current liabilities,” respectively, on the Consolidated Balance Sheets at September 30, 2023.
Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI and Noncontrolling Interest	The following tables provide information on the effects of derivative instruments on the Consolidated Statements of Income and changes in AOCI for Fiscal 2024, Fiscal 2023 and Fiscal 2022: Gain (Loss) Gain (Loss) Location of Gain (Loss) Reclassified from 2024 2023 2022 2024 2023 2022 Cash Flow Hedges: Interest rate contracts $ (19) $ 25 $ 91 $ 49 $ 40 $ (7) Interest expense Net Investment Hedges: Foreign currency contracts $ (5) $ (21) $ 69 Gain (Loss) Location of Gain (Loss) Recognized in Income 2024 2023 2022 Derivatives Not Designated as Hedging Instruments: Commodity contracts $ 1 $ 11 $ (9) Revenues Commodity contracts (92) (1,771) 1,181 Cost of sales Commodity contracts 3 2 1 Other operating income, net Foreign currency contracts (19) (23) 63 Other non-operating (expense) income, net Total $ (107) $ (1,781) $ 1,236

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The tables below present changes in AOCI, net of tax: Postretirement Derivative Foreign Total AOCI - September 30, 2021 $ (17) $ (33) $ (90) $ (140) Other comprehensive income (loss) before reclassification adjustments 28 64 (341) (249) Amounts reclassified from AOCI 3 6 — 9 Other comprehensive income (loss) attributable to UGI 31 70 (341) (240) AOCI - September 30, 2022 $ 14 $ 37 $ (431) $ (380) Other comprehensive income (loss) before reclassification adjustments 5 16 132 153 Amounts reclassified from AOCI (2) (27) — (29) Other comprehensive income (loss) attributable to UGI 3 (11) 132 124 AOCI - September 30, 2023 $ 17 $ 26 $ (299) $ (256) Other comprehensive (loss) income before reclassification adjustments (7) (14) 56 35 Amounts reclassified from AOCI — (35) 3 (32) Other comprehensive (loss) income attributable to UGI (7) (49) 59 3 AOCI - September 30, 2024 $ 10 $ (23) $ (240) $ (253)

Other Operating Income, Net a_2

Other Operating Income, Net and Other Non-Operating Income (Expense), Net (Tables)	12 Months Ended
	Sep. 30, 2024
Component of Operating Income [Abstract]
Schedule of Other Operating Income, Net	Other operating income, net, comprises the following: 2024 2023 2022 Finance charges $ 16 $ 17 $ 18 Gains on sales of fixed assets, net (a) 22 61 33 Foreign currency transaction gains (losses) 2 7 (5) Cylinder deposit income 17 23 18 Interest and interest-related income 11 6 1 Other, net (6) 18 14 Total other operating income, net $ 62 $ 132 $ 79 (a)
Schedule of Other Non-Operating (Expense) Income, Net	Other non-operating (expense) income, net comprises the following: 2024 2023 2022 (Losses) gains on foreign currency contracts, net $ (19) $ (23) $ 63 Amortization of excluded components of certain net investment hedges 5 7 7 Pension and other postretirement plans non-service income, net 6 9 5 Total other non-operating (expense) income, net $ (8) $ (7) $ 75

Equity Method Investments (Tabl

Equity Method Investments (Tables)	12 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments	Equity method investments which are included within “Other assets” on the Consolidated Balance Sheets, comprises the following as of September 30: Carrying Value Ownership Interest Investees 2024 2023 2024 2023 Midstream & Marketing Aurum Renewables $ 47 $ 45 40% 40% Pine Run 86 77 49% 49% MBL Bioenergy 206 122 99.99% 99.99% Other 20 20 various various Total Midstream & Marketing 359 264 UGI International 10 35 various various Other 1 — various various Total investments in equity method investees $ 370 $ 299

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Total Elim- Utilities Midstream UGI International AmeriGas Corporate & 2024 Revenues from external customers $ 7,210 $ — $ 1,549 $ 1,152 $ 2,279 $ 2,271 $ (41) Intersegment revenues $ — $ (266) (b) $ 49 $ 217 $ — $ — $ — Cost of sales $ 3,529 $ (266) (b) $ 650 $ 864 $ 1,301 $ 1,059 $ (79) Operating income (loss) $ 770 $ — $ 394 $ 301 $ 311 $ 142 $ (378) (Loss) income from equity investees (19) — — 12 (5) — (26) Loss on extinguishments of debt (9) — — — — — (9) Other non-operating (loss) income, net (8) — 6 — 17 — (31) Earnings (loss) before interest expense and income taxes 734 — 400 313 323 142 (444) Interest expense (394) — (93) (41) (44) (156) (60) Income tax (expense) benefit (71) — (70) (34) (17) (9) 59 Net income (loss) attributable to UGI $ 269 $ — $ 237 $ 238 $ 262 $ (23) $ (445) Depreciation and amortization $ 551 $ — $ 166 $ 86 $ 119 $ 178 $ 2 Total assets $ 15,098 $ (733) $ 5,963 $ 3,183 $ 2,906 $ 3,051 $ 728 Short-term borrowings $ 465 $ — $ 286 $ — $ 128 $ 51 $ — Capital expenditures (including the effects of accruals) $ 805 $ — $ 482 $ 150 $ 87 $ 86 $ — Investments in equity investees $ 370 $ — $ — $ 359 $ 10 $ — $ 1 Total Elim- Utilities Midstream UGI International AmeriGas Corporate & 2023 Revenues from external customers $ 8,928 $ — $ 1,780 $ 1,596 $ 2,965 $ 2,581 $ 6 Intersegment revenues $ — $ (326) (b) $ 74 $ 251 $ — $ — $ 1 Cost of sales $ 6,937 $ (325) (b) $ 953 $ 1,360 $ 2,045 $ 1,250 $ 1,654 Operating (loss) income $ (1,444) $ — $ 357 $ 285 $ 215 $ 268 $ (2,569) Income (loss) from equity investees 2 — — 6 (4) — — Loss on extinguishments of debt (9) — — — — — (9) Other non-operating (loss) income, net (7) — 8 — 23 — (38) (Loss) earnings before interest expense and income taxes (1,458) — 365 291 234 268 (2,616) Interest expense (379) — (82) (45) (37) (163) (52) Income tax benefit (expense) 335 — (64) (53) (25) (34) 511 Net (loss) income attributable to UGI $ (1,502) $ — $ 219 $ 193 $ 172 $ 71 $ (2,157) Depreciation and amortization $ 532 $ — $ 152 $ 86 $ 116 $ 177 $ 1 Total assets $ 15,401 $ (173) $ 5,691 $ 3,160 $ 3,105 $ 3,415 $ 203 Short-term borrowings $ 649 $ — $ 332 $ 103 $ 214 $ — $ — Capital expenditures (including the effects of accruals) $ 956 $ 563 $ 130 $ 129 $ 134 $ — Investments in equity investees $ 299 $ — $ — $ 264 $ 35 $ — $ — 2022 Revenues from external customers $ 10,106 $ — $ 1,515 $ 1,957 $ 3,686 $ 2,943 $ 5 Intersegment revenues $ — $ (477) (b) $ 105 $ 369 $ — $ — $ 3 Cost of sales $ 5,973 $ (474) (b) $ 798 $ 1,876 $ 2,751 $ 1,613 $ (591) Operating income $ 1,666 $ — $ 327 $ 246 $ 237 $ 307 $ 549 (Loss) income from equity investees (14) — — 23 (2) — (35) Loss on extinguishments of debt (11) — — — — — (11) Other non-operating income, net 75 — 9 — 19 — 47 Earnings before interest expense and income taxes 1,716 — 336 269 254 307 550 Interest expense (329) — (65) (41) (28) (160) (35) Income tax expense (313) — (65) (65) (50) (35) (98) Noncontrolling interests’ net income (1) — — — (1) — — Net income attributable to UGI $ 1,073 $ — $ 206 $ 163 $ 175 $ 112 $ 417 Depreciation and amortization $ 518 $ — $ 144 $ 79 $ 116 $ 177 $ 2 Total assets $ 17,575 $ (203) $ 5,354 $ 3,286 $ 4,610 $ 4,332 $ 196 Short-term borrowings $ 368 $ — $ 236 $ — $ 1 $ 131 $ — Capital expenditures (including the effects of accruals) $ 835 $ — $ 562 $ 38 $ 107 $ 128 $ — Investments in equity investees $ 130 $ — $ — $ 109 $ 20 $ — $ 1 (a) Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM in assessing our reportable segments’ performance or allocating resources. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate, for Fiscal 2024, Fiscal 2023 and Fiscal 2022: Location on Income Statement Midstream & Marketing UGI International AmeriGas Propane 2024 Net gains on commodity derivative instruments not associated with current-period transactions Revenues $ — $ 1 $ — Net gains (losses) on commodity derivative instruments not associated with current-period transactions Cost of Sales $ 63 $ (5) $ 21 Net losses on commodity derivative instruments not associated with current-period transactions Other operating income, net $ — $ (3) $ — AmeriGas operations enhancement for growth project Operating and administrative expenses $ — $ — $ (25) Restructuring costs Operating and administrative expenses $ (1) $ (57) $ (1) Loss on extinguishments of debt Loss on extinguishments of debt $ (1) $ — $ (8) Unrealized losses on foreign currency derivative instruments Other non-operating (expense) income, net $ — $ (31) $ — Impairments of equity method investments and assets (Loss) income from equity investees, Other operating income, net $ — $ (33) $ — Loss associated with impairment of AmeriGas Propane goodwill Impairment of goodwill $ — $ — $ (195) Costs associated with exit of the UGI International energy marketing business Revenues $ — $ (42) $ — Costs associated with exit of the UGI International energy marketing business Operating and administrative expenses; Other operating income, net $ — $ (13) $ — Costs associated with exit of the UGI International energy marketing business Loss on disposals of businesses $ — $ (29) $ — Loss on disposal of UGID Loss on disposals of businesses $ (66) $ — $ — 2023 Net gains (losses) on commodity derivative instruments not associated with current-period transactions Revenues $ 6 $ 4 $ — Net (losses) gains on commodity derivative instruments not associated with current-period transactions Cost of sales $ (236) $ (1,402) $ (16) Loss on extinguishment of debt Loss on extinguishments of debt $ — $ — $ (9) Unrealized gains on foreign currency derivative instruments Other non-operating (expense) income, net $ — $ (38) $ — AmeriGas operations enhancement for growth project Operating and administrative expenses $ — $ — $ (24) Loss associated with impairment of AmeriGas Propane goodwill Impairment of goodwill $ — $ — $ (656) Costs associated with exit of the UGI International energy marketing business Revenues; Operating and administrative expenses $ — $ (27) $ — Costs associated with exit of the UGI International energy marketing business Loss on disposals of businesses $ — $ (221) $ — 2022 Net losses on commodity derivative instruments not associated with current-period transactions Revenues $ (4) $ 9 $ — Net gains on commodity derivative instruments not associated with current-period transactions Cost of Sales $ (21) $ 797 $ (185) Net gains on commodity derivative instruments not associated with current-period transactions Other operating income, net $ — $ 2 $ — Unrealized gains on foreign currency derivative instruments Other non-operating (expense) income, net $ — $ 50 $ — Loss on extinguishments of debt Loss on extinguishment of debt $ — $ (11) $ — AmeriGas operations enhancement for growth project Operating and administrative expenses $ — $ — $ (5) Restructuring costs Operating and administrative expenses $ (1) $ (9) $ (16) Impairments associated with certain equity method investments (Loss) income from equity investees $ (35) $ (5) $ — (b) Represents the elimination of intersegment transactions principally among Midstream & Marketing, Utilities and AmeriGas Propane.

SCHEDULE I _ CONDENSED FINANC_2

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) (Tables)	12 Months Ended
	Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract]
Balance Sheets	BALANCE SHEETS (Millions of dollars) September 30, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 4 $ 7 Accounts receivable – related parties 23 11 Prepaid expenses and other current assets 2 23 Total current assets 29 41 Investments in subsidiaries 5,625 5,343 Other assets 145 143 Total assets $ 5,799 $ 5,527 LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY Current liabilities: Current maturities of long-term debt $ — $ 38 Accounts and notes payable 15 28 Derivative instruments 1 — Accrued liabilities 58 39 Total current liabilities 74 105 Long-term debt 1,312 969 Other noncurrent liabilities 68 67 Total liabilities 1,454 1,141 Commitments and contingencies (Note 1) Equity: Preferred Stock, without par value (authorized - 5,000,000; issued - 0 and 220,000, respectively) — 167 Common Stock, without par value (authorized – 450,000,000 shares; issued – 216,124,332 and 210,906,052 shares, respectively) 1,676 1,503 Retained earnings 2,978 3,027 Accumulated other comprehensive loss (253) (256) Treasury stock, at cost (56) (55) Total common stockholders’ equity 4,345 4,386 Total liabilities and common stockholders’ equity $ 5,799 $ 5,527
Statements of Income	STATEMENTS OF INCOME (Millions of dollars, except per share amounts) Year Ended September 30, 2024 2023 2022 Revenues $ — $ — $ — Costs and expenses: Operating and administrative expenses 100 95 74 Other operating income, net (a) (86) (83) (63) 14 12 11 Operating loss (14) (12) (11) Pension and other postretirement plans non-service expense — — (3) Interest expense (61) (52) (35) Loss before income taxes (75) (64) (49) Income tax benefit (7) (13) — Loss before equity in income of unconsolidated subsidiaries (68) (51) (49) Equity in income (loss) of unconsolidated subsidiaries 337 (1,451) 1,122 Net income (loss) attributable to UGI Corporation $ 269 $ (1,502) $ 1,073 Other comprehensive (loss) income (17) (8) 34 Equity in other comprehensive income (loss) of unconsolidated subsidiaries 20 132 (274) Comprehensive income (loss) attributable to UGI Corporation $ 272 $ (1,378) $ 833 Earnings (loss) per common share attributable to UGI Corporation stockholders: Basic $ 1.27 $ (7.16) $ 5.11 Diluted $ 1.25 $ (7.16) $ 4.97 Weighted - average common shares outstanding (thousands): Basic 211,309 209,806 209,940 Diluted 215,271 209,806 215,821 (a) 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 operating income, net” in the Statements of Income above.
Statements of Cash Flows	STATEMENTS OF CASH FLOWS (Millions of dollars) Year Ended September 30, 2024 2023 2022 NET CASH PROVIDED BY OPERATING ACTIVITIES (a) $ 379 $ 636 $ 485 CASH FLOWS FROM INVESTING ACTIVITIES: Return of capital distributions — — 175 Net investments in unconsolidated subsidiaries (355) (309) (390) Net cash used by investing activities (355) (309) (215) CASH FLOWS FROM FINANCING ACTIVITIES: Dividends on UGI Common Stock (318) (308) (296) Issuances of debt, net of issuance costs 1,078 327 597 Repayments of long-term debt (775) (333) (530) Issuances of UGI Common Stock — 12 19 Repurchases of UGI Common Stock — (22) (38) Payments on Purchase Contracts (12) (16) (16) Net cash used by financing activities (27) (340) (264) Cash and cash equivalents (decrease) increase $ (3) $ (13) $ 6 Cash and cash equivalents: End of year $ 4 $ 7 $ 20 Beginning of year 7 20 14 Cash and cash equivalents (decrease) increase $ (3) $ (13) $ 6 (a) Includes dividends received from unconsolidated subsidiaries of $420, $680 and $506 for the years ended September 30, 2024, 2023 and 2022, respectively.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Contract length (less than)	one year

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Shares used in Computing Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Weighted-average common shares outstanding for basic computation (in shares)	211,309	209,806	209,940
Incremental shares issuable for stock options, common stock awards and Equity Units (in shares)	3,962	0	5,881
Weighted-average common shares outstanding for diluted computation (in shares)	215,271	209,806	215,821
Antidilutive securities excluded from computation of earnings per share (in shares)	8,619	6,132	8,138

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Reconciliation of the total cash, cash equivalents and restricted cash (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 213	$ 241	$ 405
Restricted cash	15	99	64
Cash, cash equivalents and restricted cash	$ 228	$ 340	$ 469	$ 877

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Property, Plant and Equipment and Related Depreciation (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Public Utility, Property, Plant and Equipment [Line Items]
Depreciation expense included in cost of sales	$ 0	$ 0	$ 0
UGI Utilities, Inc.
Public Utility, Property, Plant and Equipment [Line Items]
Amortization period	5 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Goodwill [Line Items]
Goodwill	$ 2,871	$ 3,027	$ 3,612
Impairment of goodwill	195	656	0
Accumulated goodwill impairment	851	656
UGI International
Goodwill [Line Items]
Goodwill	950	911	840
Impairment of goodwill	0	0
AmeriGas Propane
Goodwill [Line Items]
Goodwill	1,153	1,348	$ 2,004
Impairment of goodwill	$ 195	$ 656
UGI International
Goodwill [Line Items]
Fair value in excess of carrying value		30%

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Refundable Tank and Cylinder Deposits and Environmental Matters (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Customer paid deposits primarily on owned tanks and cylinders	$ 243	$ 249

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 140	$ 158
Contract liabilities, recognized revenue	120	$ 127	$ 119
Midstream & Marketing
Disaggregation of Revenue [Line Items]
Remaining performance obligations	2,300
UGI Utilities, Inc.
Disaggregation of Revenue [Line Items]
Remaining performance obligations	$ 200
Natural Gas Transportation and Gathering Services
Disaggregation of Revenue [Line Items]
Term of contract with customer (up to)	30 years
Storage Services
Disaggregation of Revenue [Line Items]
Term of contract with customer (up to)	1 year
Natural Gas
Disaggregation of Revenue [Line Items]
Term of contract with customer (up to)	15 years

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Schedule of Disaggregated Revenues By Reportable Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 7,045	$ 8,761	$ 9,981
Other revenues	165	167	125
Total revenues	7,210	8,928	10,106
Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(266)	(323)	(474)
Other revenues	0	(3)	(3)
Total revenues	(266)	(326)	(477)
Eliminations | Utilities
Disaggregation of Revenue [Line Items]
Total revenues	49	74	105
Eliminations | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues	217	251	369
Eliminations | UGI International
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0
Eliminations | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0
Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,552	1,816	1,615
Other revenues	46	38	5
Total revenues	1,598	1,854	1,620
Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,368	1,845	2,324
Other revenues	1	2	2
Total revenues	1,369	1,847	2,326
Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2,240	2,927	3,652
Other revenues	39	38	34
Total revenues	2,279	2,965	3,686
Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2,193	2,496	2,864
Other revenues	78	85	79
Total revenues	2,271	2,581	2,943
Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(42)	0	0
Other revenues	1	7	8
Total revenues	(41)	7	8
Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,503	1,742	1,510
Total Utility | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(49)	(74)	(105)
Total Utility | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,552	1,816	1,615
Total Utility | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Total Utility | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Total Utility | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Total Utility | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	873	1,020	875
Residential | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Residential | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	873	1,020	875
Residential | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Residential | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Residential | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Residential | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	344	413	365
Commercial & Industrial | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Commercial & Industrial | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	344	413	365
Commercial & Industrial | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Commercial & Industrial | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Commercial & Industrial | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Commercial & Industrial | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	183	177	171
Large delivery service | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Large delivery service | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	183	177	171
Large delivery service | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Large delivery service | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Large delivery service | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Large delivery service | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	67	89	76
Off-system sales and capacity releases | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(48)	(73)	(104)
Off-system sales and capacity releases | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	115	162	180
Off-system sales and capacity releases | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Off-system sales and capacity releases | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Off-system sales and capacity releases | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Off-system sales and capacity releases | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	36	43	23
Other | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(1)	(1)	(1)
Other | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	37	44	24
Other | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	5,542	7,019	8,471
Total Non-Utility | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(217)	(249)	(369)
Total Non-Utility | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Total Non-Utility | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,368	1,845	2,324
Total Non-Utility | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2,240	2,927	3,652
Total Non-Utility | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2,193	2,496	2,864
Total Non-Utility | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(42)	0	0
Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	3,733	3,952	4,436
Retail | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Retail | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Retail | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Retail | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,816	1,768	1,997
Retail | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,917	2,184	2,439
Retail | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	270	325	496
Wholesale | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Wholesale | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Wholesale | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Wholesale | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	180	207	278
Wholesale | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	90	118	218
Wholesale | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	980	2,139	2,951
Energy Marketing | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(96)	(143)	(264)
Energy Marketing | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Energy Marketing | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	948	1,410	1,917
Energy Marketing | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	170	872	1,298
Energy Marketing | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Energy Marketing | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(42)	0	0
Reduction in revenue	42
Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	246	251	211
Pipeline | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Pipeline | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Pipeline | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	246	251	211
Pipeline | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Pipeline | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Pipeline | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	10	31	48
Peaking | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(121)	(106)	(105)
Peaking | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Peaking | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	131	137	153
Peaking | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Peaking | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Peaking | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16	14	9
Other | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16	14	9
Other | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Electricity Generation
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	27	33	34
Electricity Generation | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Electricity Generation | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Electricity Generation | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	27	33	34
Electricity Generation | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Electricity Generation | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Electricity Generation | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	260	274	286
Other | Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0
Other | Operating Segments | UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	74	80	79
Other | Operating Segments | AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	186	194	207
Other | Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0	$ 0

Dispositions and Acquisitions (

Dispositions and Acquisitions (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended				12 Months Ended
	Dec. 31, 2023	Jan. 31, 2022	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Oct. 31, 2023	Oct. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of UGID							$ (95)	$ (221)	$ 0
Pennant
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of voting interests acquired						53%			53%
Total purchase price						$ 61
Other-than-temporary pre-tax impairment charge						$ 44
Effective ownership interest in AmeriGas OLP (as a percentage)						47%			47%
Stonehenge | Energy Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total purchase price		$ 190
Sale | UGID
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration paid							43
Pre-tax impairment charges			$ 62
Loss on disposal of UGID							66
Sale | France Energy Marketing Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash payment										$ 29
Pre-tax loss							$ 29
Sale | Belgium Energy Marketing Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash payment								3
Pre-tax loss								6
Sale | U.K. Energy Marketing Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash payment											$ 19
Pre-tax loss								$ 215
Net carrying value											$ 206
Sale | Netherlands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax impairment charges					$ 19
Settlement gain (loss)				$ 46
Reduction in revenue				$ 42
Sale | European energy marketing business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Settlement gain (loss)	$ (5)
Total settlement consideration	$ 5

Debt - Narrative (Details)

Debt - Narrative (Details)

1 Months Ended

6 Months Ended

12 Months Ended

Apr. 30, 2024 USD ($)

Aug. 31, 2024 USD ($)

Jun. 30, 2024 USD ($) $ / shares

Oct. 17, 2025 USD ($)

Apr. 30, 2025 USD ($)

Sep. 30, 2024 USD ($) $ / shares

Sep. 30, 2023 USD ($)

Sep. 30, 2022 USD ($)

Nov. 30, 2024 USD ($)

Nov. 22, 2024 USD ($)

Oct. 31, 2024 USD ($)

May 31, 2024 USD ($)

Mar. 31, 2024 USD ($)

Nov. 30, 2023 USD ($)

Nov. 09, 2023 USD ($)

Debt Instrument [Line Items]

Net proceeds

$ 1,321,000,000

$ 1,930,000,000

$ 1,257,000,000

Cash contribution to the partnership

$ 315,000,000

Restricted net assets

3,500,000,000

Energy Services

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 300,000,000

$ 260,000,000

Senior Notes Due 2030 | Senior Notes | UGI Utilities, Inc.

Debt Instrument [Line Items]

Principal amount

$ 25,000,000

Interest rate (as a percentage)

6.02%

Conversion price (in dollars per share) | $ / shares

$ 27.60

Default conversion settlement ratio

1

Conversion ratio

0.0362319

Senior Notes Due 2033 | Senior Notes | UGI Utilities, Inc.

Debt Instrument [Line Items]

Principal amount

$ 150,000,000

Interest rate (as a percentage)

6.10%

Senior Notes Due 2053 | Senior Notes | UGI Utilities, Inc.

Debt Instrument [Line Items]

Principal amount

$ 75,000,000

Interest rate (as a percentage)

6.40%

UGI Utilities Credit Agreement | Line of Credit | UGI Utilities, Inc. | Revolver

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 375,000,000

Increase to limit

125,000,000

UGI Utilities Credit Agreement | Line of Credit | UGI Utilities, Inc. | Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

50,000,000

$ 100,000,000

UGI Utilities Credit Agreement | Line of Credit | UGI Utilities, Inc. | Bridge Loan

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 38,000,000

UGI Energy Services Amended Term Loan Credit Agreement | Line of Credit | Revolver | SOFR

Debt Instrument [Line Items]

Basis spread on variable rate

2.50%

UGI Energy Services Amended Term Loan Credit Agreement | Line of Credit | Revolver | SOFR base rate

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

UGI Energy Services Credit Agreement | Line of Credit | Revolver

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 300,000,000

UGI Energy Services Credit Agreement | Line of Credit | Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 50,000,000

UGI International Amended and Restated Credit Agreement | Line of Credit | Revolver

Debt Instrument [Line Items]

Key performance indicators adjustment percentage

0.05%

AmeriGas Senior Secured Revolving Credit Facility | Line of Credit | Revolver

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 200,000,000

Debt term

5 years

AmeriGas Senior Secured Revolving Credit Facility | Line of Credit | Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 20,000,000

AmeriGas Partners Senior Notes | Senior Notes | AmeriGas Partners and AmeriGas Finance Corp.

Debt Instrument [Line Items]

Principal amount

$ 218,000,000

Interest rate (as a percentage)

5.50%

Repurchased aggregate principal amount

$ 475,000,000

Repayment of debt

$ 315,000,000

Repurchased aggregate principal amount

$ 38,000,000

5.50 Percent Senior Notes | Senior Notes | AmeriGas Partners and AmeriGas Finance Corp.

Debt Instrument [Line Items]

Interest rate (as a percentage)

5.50%

5.50%

Repurchased aggregate principal amount

$ 7,000,000

5.875 Percent Senior Notes | Senior Notes | AmeriGas Partners and AmeriGas Finance Corp.

Debt Instrument [Line Items]

Interest rate (as a percentage)

5.875%

Repurchased aggregate principal amount

$ 11,000,000

5.75 Percent Senior Notes | Senior Notes | AmeriGas Partners and AmeriGas Finance Corp.

Debt Instrument [Line Items]

Interest rate (as a percentage)

5.75%

Repurchased aggregate principal amount

$ 13,000,000

9.375 Percent Senior Notes | Senior Notes | AmeriGas Partners and AmeriGas Finance Corp.

Debt Instrument [Line Items]

Interest rate (as a percentage)

9.375%

Repurchased aggregate principal amount

$ 7,000,000

UGI Corporation Credit Facility Agreement, Variable-Rate Term Loan 1 | Line of Credit

Debt Instrument [Line Items]

Principal amount

$ 215,000,000

Applicable rate increase

0.375%

UGI Corporation Credit Facility Agreement, Variable-Rate Term Loan 2 | Line of Credit

Debt Instrument [Line Items]

Principal amount

$ 300,000,000

Applicable rate increase

0.375%

UGI Corporation Senior Notes | Senior Notes

Debt Instrument [Line Items]

Principal amount

$ 700,000,000

Interest rate (as a percentage)

5%

Net proceeds

$ 682,000,000

UGI Corporation Senior Notes | Senior Notes | Level 2

Debt Instrument [Line Items]

Estimated fair value

744,000,000

UGI Corporation Senior Notes | Senior Notes | Debt Instrument, Redemption, Period One

Debt Instrument [Line Items]

Market price conversion trigger (as a percentage)

130%

Conversion price (in dollars per share) | $ / shares

$ 27.60

UGI Corporation Senior Notes | Senior Notes | Debt Instrument, Redemption, Period Two

Debt Instrument [Line Items]

Market price conversion trigger (as a percentage)

98%

Senior Notes Due 2029 | Senior Notes | UGI Utilities, Inc. | Subsequent Event

Debt Instrument [Line Items]

Principal amount

$ 50,000,000

Interest rate (as a percentage)

5.24%

Senior Notes Due 2034 | Senior Notes | UGI Utilities, Inc. | Subsequent Event

Debt Instrument [Line Items]

Principal amount

$ 125,000,000

Interest rate (as a percentage)

5.52%

UGI Corporation Credit Facility Agreement | Line of Credit

Debt Instrument [Line Items]

Borrowings outstanding

$ 630,000,000

UGI Corporation Credit Facility Agreement | Line of Credit | Revolver | Subsequent Event

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 475,000,000

$ 475,000,000

UGI Corporation Credit Facility Agreement | Line of Credit | Letter of Credit | Subsequent Event

Debt Instrument [Line Items]

Maximum borrowing capacity

10,000,000

10,000,000

UGI Corporation Credit Facility Agreement | Line of Credit | Senior Secured Notes | Subsequent Event

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 400,000,000

$ 400,000,000

Energy Services Receivables Facility | Energy Services | Subsequent Event | Receivables Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 75,000,000

$ 150,000,000

Option to increase

$ 50,000,000

Debt - Schedule of Credit Facil

Debt - Schedule of Credit Facilities and Short-term Borrowings (Details)	Oct. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Nov. 30, 2023 USD ($)	Nov. 09, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)
AmeriGas OLP
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 200,000,000				$ 600,000,000
Borrowings Outstanding		51,000,000				0
Letters of Credit and Guarantees Outstanding		0				2,000,000
Available Borrowing Capacity		$ 149,000,000				598,000,000
Weighted Average Interest Rate - End of Year		7.29%	7.29%
AmeriGas OLP | Letter of Credit | AmeriGas OLP Credit Agreement | Line of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 20,000,000				$ 100,000,000
AmeriGas OLP | Subsequent Event
Short-term Debt [Line Items]
Maximum borrowing capacity	$ 300,000,000
UGI International LLC
Short-term Debt [Line Items]
Maximum borrowing capacity | €			€ 500,000,000				€ 500,000,000
Borrowings Outstanding | €			115,000,000				202,000,000
Letters of Credit and Guarantees Outstanding | €			0				0
Available Borrowing Capacity | €			€ 385,000,000				€ 298,000,000
Weighted Average Interest Rate - End of Year		4.88%	4.88%			5.17%	5.17%
Energy Services
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 300,000,000				$ 260,000,000
Borrowings Outstanding		0				57,000,000
Letters of Credit and Guarantees Outstanding		0				0
Available Borrowing Capacity		300,000,000				$ 203,000,000
Weighted Average Interest Rate - End of Year						7.67%	7.67%
Energy Services | Letter of Credit | Energy Services Credit Agreement | Line of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity		50,000,000
UGI Utilities
Short-term Debt [Line Items]
Maximum borrowing capacity		375,000,000				$ 425,000,000
Borrowings Outstanding		190,000,000				248,000,000
Letters of Credit and Guarantees Outstanding		0				0
Available Borrowing Capacity		$ 185,000,000				$ 177,000,000
Weighted Average Interest Rate - End of Year		5.92%	5.92%			6.30%	6.30%
UGI Utilities | Letter of Credit | UGI Utilities, Inc. Credit Agreement | Line of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 50,000,000
Mountaineer
Short-term Debt [Line Items]
Maximum borrowing capacity		150,000,000				$ 150,000,000
Borrowings Outstanding		96,000,000				84,000,000
Letters of Credit and Guarantees Outstanding		0				0
Available Borrowing Capacity		$ 54,000,000				$ 66,000,000
Weighted Average Interest Rate - End of Year		6.56%	6.56%			6.68%	6.68%
Mountaineer | Letter of Credit | Line of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity		$ 20,000,000
UGI Corporation
Short-term Debt [Line Items]
Maximum borrowing capacity		300,000,000				$ 300,000,000
Borrowings Outstanding		115,000,000				283,000,000
Letters of Credit and Guarantees Outstanding		0				0
Available Borrowing Capacity		$ 185,000,000				$ 17,000,000
Weighted Average Interest Rate - End of Year		7.45%	7.45%			7.80%	7.80%
UGI Utilities, Inc. | Letter of Credit | UGI Utilities Credit Agreement | Line of Credit
Short-term Debt [Line Items]
Maximum borrowing capacity				$ 50,000,000	$ 100,000,000

Debt - Schedule of Receivables

Debt - Schedule of Receivables Facility (Details) - Energy Services Receivables Facility - Receivables Facility - Energy Services - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Short-term Debt [Line Items]
Trade receivables transferred to ESFC during the year	$ 1,324,000,000	$ 1,946,000,000	$ 2,221,000,000
ESFC trade receivables sold to the bank during the year	336,000,000	535,000,000	152,000,000
ESFC trade receivables - end of year	51,000,000	62,000,000	$ 101,000,000
Outstanding balance of trade receivables sold	$ 0	$ 46,000,000

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Total long-term debt	$ 6,678		$ 6,600
Less: current maturities	(235)		(57)
Total long-term debt due after one year	6,443		6,543
UGI Utilities, Inc.
Debt Instrument [Line Items]
Unamortized debt issuance costs	(7)		(6)
Total long-term debt	1,889		1,649
Midstream & Marketing
Debt Instrument [Line Items]
Unamortized debt issuance costs	(13)		(15)
Total long-term debt	814		820
UGI International
Debt Instrument [Line Items]
Unamortized debt issuance costs	(6)		(8)
Total long-term debt	787		739
AmeriGas Propane
Debt Instrument [Line Items]
Unamortized debt issuance costs	(10)		(15)
Total long-term debt	1,877		2,385
UGI Corporation
Debt Instrument [Line Items]
Unamortized debt issuance costs	(19)		(3)
Total long-term debt	1,311		1,007
UGI Corporation | Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 115		283
4.12% due September 2046 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.12%
Long-term debt, gross	$ 200		200
4.98% due March 2044 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.98%
Long-term debt, gross	$ 175		175
3.12% due April 2050 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	3.12%
Long-term debt, gross	$ 150		150
4.55% due February 2049 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.55%
Long-term debt, gross	$ 150		150
4.12% due October 2046 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.12%
Long-term debt, gross	$ 100		100
6.21% due September 2036 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	6.21%
Long-term debt, gross	$ 100		100
2.95% due June 2026 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	2.95%
Long-term debt, gross	$ 100		100
1.59% due June 2026 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	1.59%
Long-term debt, gross	$ 100		100
1.64% due September 2026 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	1.64%
Long-term debt, gross	$ 75		75
4.75% due July 2032 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.75%
Long-term debt, gross	$ 90		90
4.99% due September 2052 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.99%
Long-term debt, gross	$ 85		85
6.02% due November 2030 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	6.02%
Long-term debt, gross	$ 25		0
6.10% due November 2033 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	6.10%
Long-term debt, gross	$ 150		0
6.40% due November 2053 | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	6.40%
Long-term debt, gross	$ 75		0
6.13% due October 2034 | UGI Utilities, Inc. | Medium-Term Note
Debt Instrument [Line Items]
Interest rate (as a percentage)	6.13%
Long-term debt, gross	$ 20		20
6.50% due August 2033 | UGI Utilities, Inc. | Medium-Term Note
Debt Instrument [Line Items]
Interest rate (as a percentage)	6.50%
Long-term debt, gross	$ 20		20
Mountaineer senior notes | UGI Utilities, Inc. | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	196		199
Variable-rate term loan | UGI Utilities, Inc. | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	83		89
Variable-rate term loan | Midstream & Marketing | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	786		794
Variable-rate term loan | UGI International | Term Loan Due March 2028
Debt Instrument [Line Items]
Long-term debt, gross	335		317
Other | UGI Utilities, Inc. | Other
Debt Instrument [Line Items]
Long-term debt, gross	2		2
Other | Midstream & Marketing | Other
Debt Instrument [Line Items]
Long-term debt, gross	41		41
Other | UGI International | Other
Debt Instrument [Line Items]
Long-term debt, gross	$ 12		6
2.50% Senior Notes due December 2029 | UGI International | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	2.50%
Long-term debt, gross	$ 446		424
5.50% due May 2025 | AmeriGas Propane | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	5.50%
Long-term debt, gross	$ 218		700
5.875% due August 2026 | AmeriGas Propane | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	5.875%
Long-term debt, gross	$ 664		675
5.75% due May 2027 | AmeriGas Propane | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	5.75%
Long-term debt, gross	$ 512		525
9.375% due May 2028 | AmeriGas Propane | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)	9.375%
Long-term debt, gross	$ 493		500
3-year Term loan | UGI Corporation | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	300		300
5-year Term Loan | UGI Corporation | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	0		212
7-Year Term Loan | UGI Corporation | Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	215		215
UGI Corporation Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate (as a percentage)		5%
UGI Corporation Senior Notes | UGI Corporation | Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 700		$ 0

Debt - Schedule of Long-term _2

Debt - Schedule of Long-term Debt (Footnotes) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Midstream & Marketing
Debt Instrument [Line Items]
Fixed rate (as a percentage)	4.53%
UGI International
Debt Instrument [Line Items]
Fixed rate (as a percentage)	3.10%
UGI Corporation | 3-year Term loan
Debt Instrument [Line Items]
Fixed rate (as a percentage)	3.61%
UGI Corporation | 7-Year Term Loan
Debt Instrument [Line Items]
Fixed rate (as a percentage)	3.61%
Line of Credit | UGI Corporation
Debt Instrument [Line Items]
Effective interest rate (as a percentage)	7.45%	7.80%
Mountaineer senior notes | Senior Notes | UGI Utilities, Inc.
Debt Instrument [Line Items]
Principal amount	$ 180,000,000	$ 180,000,000
Unamortized premium	$ 16,000,000	$ 19,000,000
Mountaineer senior notes | Senior Notes | UGI Utilities, Inc. | Minimum
Debt Instrument [Line Items]
Interest rate (as a percentage)	3.50%
Mountaineer senior notes | Senior Notes | UGI Utilities, Inc. | Maximum
Debt Instrument [Line Items]
Interest rate (as a percentage)	4.49%
Variable-rate term loan | Term Loan | UGI Utilities, Inc.
Debt Instrument [Line Items]
Effective interest rate (as a percentage)	3.92%	3.92%
Fixed rate (as a percentage)	2.82%
Quarterly installments	$ 2,000,000
Variable-rate term loan | Term Loan | Midstream & Marketing
Debt Instrument [Line Items]
Effective interest rate (as a percentage)	7.09%	7.82%
Quarterly installments	$ 2,000,000
Variable-rate term loan | Term Loan Due March 2028 | UGI International
Debt Instrument [Line Items]
Effective interest rate (as a percentage)	4.95%
3-year Term loan | Term Loan | UGI Corporation
Debt Instrument [Line Items]
Effective interest rate (as a percentage)	6.09%	2.77%
5-year Term Loan | Term Loan | UGI Corporation
Debt Instrument [Line Items]
Effective interest rate (as a percentage)		7.79%
7-Year Term Loan | Term Loan | UGI Corporation
Debt Instrument [Line Items]
Effective interest rate (as a percentage)	6.75%	4.73%

Debt - Schedule of Principal Re

Debt - Schedule of Principal Repayments of Long-term Debt (Details) - USD ($)	Nov. 22, 2024	Oct. 31, 2024	Sep. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
2025			$ 235,000,000
2026			955,000,000
2027			586,000,000
2028			1,577,000,000
2029			10,000,000
Revolver | UGI Corporation Credit Facility Agreement | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 475,000,000	$ 475,000,000
Letter of Credit | UGI Corporation Credit Facility Agreement | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity	10,000,000	10,000,000
Senior Secured Notes | UGI Corporation Credit Facility Agreement | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000,000	$ 400,000,000
Utilities
Debt Instrument [Line Items]
2025			7,000,000
2026			281,000,000
2027			64,000,000
2028			40,000,000
2029			0
Midstream & Marketing
Debt Instrument [Line Items]
2025			8,000,000
2026			8,000,000
2027			8,000,000
2028			8,000,000
2029			8,000,000
UGI International
Debt Instrument [Line Items]
2025			2,000,000
2026			2,000,000
2027			2,000,000
2028			336,000,000
2029			2,000,000
AmeriGas Propane
Debt Instrument [Line Items]
2025			218,000,000
2026			664,000,000
2027			512,000,000
2028			493,000,000
2029			0
UGI Corporation
Debt Instrument [Line Items]
2025			0
2026			0
2027			0
2028			700,000,000
2029			0
Maximum borrowing capacity			$ 300,000,000	$ 300,000,000

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Domestic	$ 305	$ (346)	$ 362
Foreign	35	(1,491)	1,025
Income (loss) before income taxes	$ 340	$ (1,837)	$ 1,387

Income Taxes - Provisions for I

Income Taxes - Provisions for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Current expense (benefit):
Federal	$ (25)	$ (1)	$ 24
State	12	37	18
Foreign	32	49	50
Total current expense	19	85	92
Deferred expense (benefit):
Federal	82	34	45
State	34	(21)	(17)
Foreign	(64)	(433)	193
Total deferred expense (benefit)	52	(420)	221
Total income tax expense (benefit)	$ 71	$ (335)	$ 313

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Income Tax Examination [Line Items]
Foreign tax credits	$ 17	$ 25	$ 5
Income taxes receivable	56	36
GILTI taxes	2	13	3
Deferred tax assets relating to operating loss carryforwards	72	75
Increase (decrease) in valuation allowance	(11)
Unrecognized tax benefits if recognized would impact the reported effective tax rate	18	26	5
Notional interest deduction carryover
Income Tax Examination [Line Items]
Increase (decrease) in valuation allowance	(22)	(5)
Capital Losses
Income Tax Examination [Line Items]
Increase (decrease) in valuation allowance	(4)	(22)
Future FTC's realizable
Income Tax Examination [Line Items]
Increase (decrease) in valuation allowance	(1)	(16)
Foreign Net Operating Loss Carry Forwards
Income Tax Examination [Line Items]
Increase (decrease) in valuation allowance	5	11
Disallowed Interest
Income Tax Examination [Line Items]
Increase (decrease) in valuation allowance	11	19
State Tax Rate Changes
Income Tax Examination [Line Items]
Increase (decrease) in valuation allowance		(3)
AmeriGas Propane
Income Tax Examination [Line Items]
Operating loss carryforwards	4
Other Subsidiaries
Income Tax Examination [Line Items]
Deferred tax assets relating to operating loss carryforwards	72
Effects of tax rate changes – State, net of federal benefit
Income Tax Examination [Line Items]
Benefit from legislation	12	4
Decrease in income tax expense due to state tax flow through of accelerated depreciation	12	11	$ 10
Operating loss carryforwards	1,223
Effects of U.S. tax legislation
Income Tax Examination [Line Items]
Income taxes receivable	56	36
Effects of U.S. tax legislation | Fiscal 2021
Income Tax Examination [Line Items]
Income taxes receivable	36	$ 36
Effects of tax rate changes - International | Administration of the Treasury, Belgium
Income Tax Examination [Line Items]
Operating loss carryforwards	8
Effects of tax rate changes - International | Tax and Customs Administration, Netherlands
Income Tax Examination [Line Items]
Operating loss carryforwards	66
Effects of tax rate changes - International | Flaga
Income Tax Examination [Line Items]
Operating loss carryforwards	9
Effects of tax rate changes - International | UGI France
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 22

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of U.S. Federal Statutory Tax Rate to Effective Tax Rate (Details)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Operating Loss Carryforwards [Line Items]
U.S. federal statutory tax rate	21%	21%	21%
Difference in tax rate due to:
Goodwill impairment not deductible for tax	11.60%	(7.30%)	0%
State income taxes, net of federal benefit	6.80%	(1.70%)	2.30%
Investment tax credits	(6.80%)	0.50%	0%
Valuation allowance adjustments	(6.30%)	1.10%	(0.50%)
Regulated entity depreciation normalization	(4.50%)	0.70%	(0.80%)
Notional interest deduction	(3.80%)	0.70%	(0.90%)
State NOL adjustment upon disposition	2.40%	0%	0%
Uncertain tax positions	(2.40%)	(0.70%)	0%
Impairment of equity investment	2.20%	0%	0%
Federal refund interest accrual	(1.10%)	0%	0%
Effects of foreign operations	0.10%	3.10%	5.30%
Other, net	(1.90%)	0.60%	(0.10%)
Effective tax rate	20.90%	18.20%	22.60%
Effects of tax rate changes – State, net of federal benefit
Difference in tax rate due to:
Effects of tax rate changes	3.60%	0.20%	(1.40%)
Effects of tax rate changes - International
Difference in tax rate due to:
Effects of tax rate changes	0%	0%	(2.30%)

Income Taxes - Deferred Tax Lia

Income Taxes - Deferred Tax Liabilities (Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Excess book basis over tax basis of property, plant and equipment	$ 994	$ 966
Intangible assets and goodwill	86	81
Utility regulatory assets	74	84
Investment in AmeriGas Partners	31	0
Derivative instrument assets	0	19
Other	50	37
Gross deferred tax liabilities	1,235	1,187
Interest expense	(118)	(83)
Operating loss carryforwards	(72)	(75)
Utility regulatory liabilities	(72)	(83)
Foreign tax credit carryforwards	(49)	(64)
Employee-related benefits	(33)	(37)
Investment tax credits	(26)	0
Utility environmental liabilities	(16)	(15)
Pension plan liabilities	(8)	(14)
Derivative instrument liabilities	(3)	0
Investment in AmeriGas Partners	0	(28)
Other	(58)	(58)
Gross deferred tax assets	(455)	(457)
Deferred tax assets valuation allowance	130	141
Net deferred tax liabilities	$ 910	$ 871

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of Unrecognized Tax Benefits
Unrecognized tax benefits — beginning of year	$ 26	$ 5	$ 3
Additions for tax positions of the current year	4	3	2
Decreases for tax positions taken in prior years	(11)	0	0
Increases for tax positions taken in prior years	0	19	1
Settlements with tax authorities/statute lapses	(1)	(1)	(1)
Unrecognized tax benefits — end of year	$ 18	$ 26	$ 5

Employee Retirement Plans - Nar

Employee Retirement Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
ABO	$ 24	$ 21
Fair value of plan assets	22	18
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Contribution made to Pension Plan	19	19
Defined benefit plan, benefit obligation	707	623	$ 633
Supplemental Employee Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, benefit obligation	40	34
Consolidated balance sheets	31	26
U.S. | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Contribution made to Pension Plan	$ 18	$ 18	$ 14

Employee Retirement Plans - Cha

Employee Retirement Plans - Change in Pension Benefits and Other Postretirement Benefits Obligations (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Change in benefit obligations:
Benefit obligations — beginning of year	$ 623	$ 633
Service cost	8	9	$ 16
Interest cost	36	35	26
Actuarial loss (gain)	76	(20)
Foreign currency	2	2
Benefits paid	(38)	(36)
Benefit obligations — end of year	707	623	633
Change in plan assets:
Fair value of plan assets — beginning of year	556	541
Actual gain (loss) on plan assets	118	31
Foreign currency	1	1
Employer contributions	19	19
Benefits paid	(37)	(36)
Fair value of plan assets — end of year	657	556	$ 541
Funded status of the plans — end of year	(50)	(67)
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax):
Prior service cost	3	3
Net actuarial gain	(9)	(17)
Total	(6)	(14)
Amounts recorded in regulatory assets and liabilities (pre-tax):
Net actuarial loss	106	110
Total	106	110
ABO for the pension plans	$ 633	$ 558

Employee Retirement Plans - Act

Employee Retirement Plans - Actuarial Assumptions for Domestic Plans (Details) - Pension Benefits	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Weighted-average assumptions:
Discount rate – benefit obligations	5.05%	6.09%	5.70%
Discount rate – benefit cost	6.09%	5.70%	3.13%
Expected return on plan assets	7.50%	7.50%	7.10%
Rate of increase in salary levels	3.25%	3.25%	3.25%

Employee Retirement Plans - Net

Employee Retirement Plans - Net periodic pension (income) cost (Details) - Pension Benefits - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 8	$ 9	$ 16
Interest cost	36	35	26
Expected return on assets	(44)	(45)	(50)
Amortization of:
Actuarial loss (gain)	1	(3)	7
Net benefit cost (income)	$ 1	$ (4)	$ (1)

Employee Retirement Plans - Exp

Employee Retirement Plans - Expected Payments for Pension Benefits and Other Postretirement Welfare Benefits (Details) - Pension Benefits $ in Millions	Sep. 30, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Fiscal 2025	$ 40
Fiscal 2026	41
Fiscal 2027	44
Fiscal 2028	46
Fiscal 2029	49
Fiscal 2030 - 2034	$ 242

Employee Retirement Plans - Pen

Employee Retirement Plans - Pension Plans Assets (Details) - U.S. - Pension Benefits	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans
Actual	100%	100%
Target Asset Allocation	100%	100%
Permitted target allocation range	5%
Equity investments
Defined Benefit Plans and Other Postretirement Benefit Plans
Actual	52.40%	61.40%
Target Asset Allocation	53.20%	61.60%
Fixed income funds & cash equivalents
Defined Benefit Plans and Other Postretirement Benefit Plans
Actual	44.90%	35.50%
Target Asset Allocation	43.40%	35%
Alternative investments
Defined Benefit Plans and Other Postretirement Benefit Plans
Actual	2.70%	3.10%
Target Asset Allocation	3.40%	3.40%

Employee Retirement Plans - Fai

Employee Retirement Plans - Fair Value of U.S. Pension Plan and VEBA Trust Assets (Details) - Pension Benefits - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 657	$ 556	$ 541
U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	635	539
Equity investments | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20	19
UGI Corporation Common Stock | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	20	19
Total common collective trust funds | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	598	503
U.S. equity index investments | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	188	120
Non-U.S. equity index investments | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	96	117
Global equity index investments | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	29	75
Bond index mutual funds | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	274	183
Cash equivalents | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11	8
Alternative investments | U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 17	$ 17

Employee Retirement Plans - Def

Employee Retirement Plans - Defined Contribution Plans (Details) - Other Pension, Postretirement and Supplemental Plans - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Defined Contribution Plan Disclosure [Line Items]
Costs of benefits under savings plans	$ 23	$ 22	$ 21
Total fair values of grantor trust investment assets	$ 8	$ 9

Utility Regulatory Assets and_3

Utility Regulatory Assets and Liabilities and Regulatory Matters - Regulatory Assets and Liabilities Associated with Utilities (Details) - UGI Utilities, Inc. - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Regulatory Assets [Line Items]
Regulatory assets	$ 319	$ 347
Regulatory Liabilities [Line Items]
Regulatory liabilities	329	366
Postretirement benefits
Regulatory Liabilities [Line Items]
Regulatory liabilities	13	12
Deferred fuel and power refunds
Regulatory Liabilities [Line Items]
Regulatory liabilities	17	55
State income tax benefits — distribution system repairs
Regulatory Liabilities [Line Items]
Regulatory liabilities	44	43
Excess federal deferred income taxes
Regulatory Liabilities [Line Items]
Regulatory liabilities	247	254
Other
Regulatory Liabilities [Line Items]
Regulatory liabilities	8	2
Income taxes recoverable
Regulatory Assets [Line Items]
Regulatory assets	105	94
Underfunded pension plans
Regulatory Assets [Line Items]
Regulatory assets	106	111
Environmental costs
Regulatory Assets [Line Items]
Regulatory assets	28	28
Deferred fuel and power costs
Regulatory Assets [Line Items]
Regulatory assets	0	27
Removal costs, net
Regulatory Assets [Line Items]
Regulatory assets	28	23
Other
Regulatory Assets [Line Items]
Regulatory assets	$ 52	$ 64

Utility Regulatory Assets and_4

Utility Regulatory Assets and Liabilities and Regulatory Matters - Narrative (Details) - USD ($) $ in Millions

12 Months Ended

Jul. 31, 2024

Apr. 11, 2024

Dec. 21, 2023

Oct. 06, 2023

Oct. 01, 2023

Sep. 21, 2023

Jul. 31, 2023

Mar. 06, 2023

Jan. 27, 2023

Nov. 16, 2022

Nov. 01, 2022

Oct. 29, 2022

Sep. 15, 2022

Jul. 29, 2022

Jan. 28, 2022

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2022

Oct. 19, 2016

Regulatory Assets [Line Items]

Regulatory asset, amortization period

20 years

Net gains (losses) on commodity derivative instruments not associated with current-period transactions

$ (10)

$ (1,682)

$ 648

Public Service Commission of West Virginia | Mountaineer | Weather Normalization Adjustment Rider

Regulatory Assets [Line Items]

Approved rate increase

2%

Public utilities, rate matters, approved period

5 years

Public utilities, approved rate increase (decrease), percentage threshold

2%

Public Service Commission of West Virginia | Mountaineer | 2024 Infrastructure Replacement And Expansion Plan Expected

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 19

Capital investments increase (decrease)

197

Public Service Commission of West Virginia | Mountaineer | 2024 Infrastructure Replacement and Expansion Plan, Prior Year Under-recovery

Regulatory Assets [Line Items]

Requested rate increase (decrease)

3

Public Service Commission of West Virginia | Mountaineer | 2024 Infrastructure Replacement and Expansion Plan, Capital Investments 2025

Regulatory Assets [Line Items]

Capital investments increase (decrease)

74

Public Service Commission of West Virginia | Mountaineer | 2024 Infrastructure Replacement and Expansion Plan, Capital Improvements 2025 Through 2029

Regulatory Assets [Line Items]

Capital investments increase (decrease)

$ 418

Public Service Commission of West Virginia | Mountaineer | 2023 Infrastructure Replacement and Expansion Plan

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 10

Public Service Commission of West Virginia | Mountaineer | 2023 Infrastructure Replacement and Expansion Plan, Requested Recovery

Regulatory Assets [Line Items]

Requested rate increase (decrease)

6

Public Service Commission of West Virginia | Mountaineer | 2023 Infrastructure Replacement and Expansion Plan, Capital Improvement 2023

Regulatory Assets [Line Items]

Costs associated with capital investments

131

Public Service Commission of West Virginia | Mountaineer | 2023 Infrastructure Replacement and Expansion Plan, Capital Improvements 2024

Regulatory Assets [Line Items]

Costs associated with capital investments

67

Public Service Commission of West Virginia | Mountaineer | 2023 Infrastructure Replacement and Expansion Plan, Expected

Regulatory Assets [Line Items]

Capital investments increase (decrease)

(12)

Public Service Commission of West Virginia | Mountaineer | 2023 Infrastructure Replacement and Expansion Plan, Capital Investments

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 383

Public Service Commission of West Virginia | Mountaineer | Net Revenue Increase

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 14

$ 20

Public Service Commission of West Virginia | Mountaineer | Base Rate Case, Base Rate

Regulatory Assets [Line Items]

Requested rate increase (decrease)

38

Public Service Commission of West Virginia | Mountaineer | Base Rate Case, Infrastructure Rider

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ (18)

Public Service Commission of West Virginia | Mountaineer | 2022 IREP For 2023 - 2027

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 354

Public Service Commission of West Virginia | Mountaineer | 2022 IREP For 2023

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 64

Public Service Commission of West Virginia | Mountaineer | 2023 IREP Revenue

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 22

Public Service Commission of West Virginia | Mountaineer | 2021 IREP Recovery

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 1

Pennsylvania Public Utility Commission | UGI Utilities, Inc.

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 11

Approved rate increase, amount

$ 9

Pennsylvania Public Utility Commission | Regulated natural gas utilities

Regulatory Assets [Line Items]

Requested rate increase (decrease)

$ 83

Pennsylvania Public Utility Commission | Regulated natural gas utilities | Joint Petition for Approval of Settlement

Regulatory Assets [Line Items]

Approved rate increase, amount

$ 49

Public utilities

5 years

Approved rate increase

3%

Property, plant and equipment, net threshold

$ 3,368

Pennsylvania Public Utility Commission | Regulated natural gas utilities | Joint Petition for Approval of Settlement, Phase I

Regulatory Assets [Line Items]

Approved rate increase, amount

$ 38

Pennsylvania Public Utility Commission | Regulated natural gas utilities | Joint Petition for Approval of Settlement, Phase II

Regulatory Assets [Line Items]

Approved rate increase, amount

$ 11

Pennsylvania Public Utility Commission | Regulated natural gas utilities | Weather Normalization Adjustment Rider

Regulatory Assets [Line Items]

Approved rate increase

3%

Postretirement benefits

Regulatory Assets [Line Items]

Regulatory liability, amortization period

10 years

Regulated natural gas utilities

Regulatory Assets [Line Items]

Net gains (losses) on commodity derivative instruments not associated with current-period transactions

$ 2

$ (2)

Minimum

Regulatory Assets [Line Items]

Average remaining depreciable lives of associated property

1 year

Maximum

Regulatory Assets [Line Items]

Average remaining depreciable lives of associated property

65 years

Maximum | Removal Costs, Net

Regulatory Assets [Line Items]

Regulatory asset, amortization period

5 years

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Public Utilities, Inventory
Total inventories	$ 411	$ 433
Non-utility LPG and natural gas
Public Utilities, Inventory
Total inventories	195	212
Gas Utility natural gas
Public Utilities, Inventory
Total inventories	50	55
Energy certificates
Public Utilities, Inventory
Total inventories	69	64
Materials, supplies and other
Public Utilities, Inventory
Total inventories	$ 97	$ 102

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Property, Plant and Equipment
Utility	$ 6,520	$ 6,082
Non-utility	7,153	7,046
Total property, plant and equipment	13,673	13,128
Distribution
Property, Plant and Equipment
Utility	5,595	5,204
Transmission
Property, Plant and Equipment
Utility	125	123
General and other
Property, Plant and Equipment
Utility	706	660
Work in process
Property, Plant and Equipment
Utility	94	95
Non-utility	258	156
Land
Property, Plant and Equipment
Non-utility	172	174
Buildings and improvements
Property, Plant and Equipment
Non-utility	$ 429	418
Buildings and improvements | Minimum
Property, Plant and Equipment
Estimated Useful Life	10 years
Buildings and improvements | Maximum
Property, Plant and Equipment
Estimated Useful Life	40 years
Transportation equipment
Property, Plant and Equipment
Non-utility	$ 233	238
Transportation equipment | Minimum
Property, Plant and Equipment
Estimated Useful Life	3 years
Transportation equipment | Maximum
Property, Plant and Equipment
Estimated Useful Life	10 years
Equipment, primarily cylinders and tanks
Property, Plant and Equipment
Non-utility	$ 3,985	3,903
Equipment, primarily cylinders and tanks | Minimum
Property, Plant and Equipment
Estimated Useful Life	5 years
Equipment, primarily cylinders and tanks | Maximum
Property, Plant and Equipment
Estimated Useful Life	30 years
Electric generation
Property, Plant and Equipment
Non-utility	$ 48	190
Electric generation | Minimum
Property, Plant and Equipment
Estimated Useful Life	25 years
Electric generation | Maximum
Property, Plant and Equipment
Estimated Useful Life	40 years
Pipeline and related assets
Property, Plant and Equipment
Non-utility	$ 1,598	1,577
Pipeline and related assets | Minimum
Property, Plant and Equipment
Estimated Useful Life	25 years
Pipeline and related assets | Maximum
Property, Plant and Equipment
Estimated Useful Life	40 years
Other
Property, Plant and Equipment
Non-utility	$ 430	$ 390
Other | Minimum
Property, Plant and Equipment
Estimated Useful Life	1 year
Other | Maximum
Property, Plant and Equipment
Estimated Useful Life	12 years

Property, Plant and Equipment_2

Property, Plant and Equipment - Average Composite Depreciation Rates (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment
Depreciation	$ 496	$ 476	$ 460
Regulated natural gas utilities
Property, Plant and Equipment
Average composite depreciation rates (as a percentage)	2.60%	2.40%	2.60%
Electric Utility
Property, Plant and Equipment
Average composite depreciation rates (as a percentage)	2.50%	2.30%	2.40%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Goodwill
Balance at beginning of period	$ 3,027	$ 3,612
Impairment of goodwill	(195)	(656)	$ 0
Acquisitions		3
Dispositions	(12)
Foreign currency translation	51	68
Balance at end of period	2,871	3,027	3,612
Utilities
Goodwill
Balance at beginning of period	432	432
Impairment of goodwill	0	0
Acquisitions		0
Dispositions	0
Foreign currency translation	0	0
Balance at end of period	432	432	432
Midstream & Marketing
Goodwill
Balance at beginning of period	336	336
Impairment of goodwill	0	0
Acquisitions		0
Dispositions	0
Foreign currency translation	0	0
Balance at end of period	336	336	336
UGI International
Goodwill
Balance at beginning of period	911	840
Impairment of goodwill	0	0
Acquisitions		3
Dispositions	(12)
Foreign currency translation	51	68
Balance at end of period	950	911	840
AmeriGas Propane
Goodwill
Balance at beginning of period	1,348	2,004
Impairment of goodwill	(195)	(656)
Acquisitions		0
Dispositions	0
Foreign currency translation	0	0
Balance at end of period	$ 1,153	$ 1,348	$ 2,004

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023
Goodwill [Line Items]
Impairment of goodwill	$ 195,000,000	$ 656,000,000	$ 0
Goodwill	2,871,000,000	3,027,000,000	3,612,000,000
Amortization expense of intangible assets	55,000,000	56,000,000	61,000,000
Fiscal 2025	52,000,000
Fiscal 2026	50,000,000
Fiscal 2027	27,000,000
Fiscal 2028	17,000,000
Fiscal 2029	16,000,000
Customer relationships
Goodwill [Line Items]
Impairment of customer relationship intangible		10,000,000
AmeriGas Propane
Goodwill [Line Items]
Impairment of goodwill	195,000,000	656,000,000
Goodwill	$ 1,153,000,000	$ 1,348,000,000	$ 2,004,000,000
Senior Notes Due 2028 | Senior Notes | AmeriGas Partners and AmeriGas Finance Corp.
Goodwill [Line Items]
Principal amount				$ 500,000,000
Interest rate (as a percentage)				9.375%

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Components of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Customer relationships	$ 985	$ 977
Trademarks and tradenames	4	4
Noncompete agreements and other	27	26
Accumulated amortization	(665)	(602)
Intangible assets, net (definite-lived)	351	405
Trademarks and tradenames (indefinite-lived)	40	38
Total intangible assets, net	$ 391	$ 443

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)			1 Months Ended	12 Months Ended
	Feb. 02, 2022	May 25, 2021	May 31, 2024	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2024
Class of Stock [Line Items]
Repurchases of common stock					$ 0
Preferred stock, shares authorized (in shares)				5,000,000		5,000,000
Preferred stock, shares outstanding (in shares)				220,000		0
Common Stock
Class of Stock [Line Items]
Maximum number of shares authorized for repurchase (up to) (in shares)	8,000,000
Stock repurchase program period	4 years
Repurchases of common stock (in shares)				600,000	900,000
Repurchases of common stock				$ 22,000,000	$ 38,000,000
Capital Units | Preferred stock, without par value
Class of Stock [Line Items]
Units and shares sold (in shares)		2,200,000
Notional value		$ 220,000,000
Stated value (in dollars per share)		$ 100
Undivided beneficial ownership interest		10%
Liquidation preference (in dollars per share)		$ 1,000
Issuance of Preferred Stock, net of issuance costs		$ 213,000,000
Capital Units | Common Stock
Class of Stock [Line Items]
Equity unit received by each holder (in shares)			2.2973
Converted equity units (in shares)			5,054,030
Convertible Preferred Stock | Preferred stock, without par value
Class of Stock [Line Items]
Units and shares sold (in shares)		220,000

Equity - Schedule of Common Sto

Equity - Schedule of Common Stock Share Activity (Details) - USD ($)	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - Shares Issued (in shares)	220,000	220,000	220,000
Beginning balance - Shares Outstanding (in shares)	220,000
Beginning balance - Shares Issued (in shares)	210,906,052
Ending balance - Shares Issued (in shares)	0	220,000	220,000
Ending balance - Shares Outstanding (in shares)	0	220,000
Ending balance - Shares Issued (in shares)	216,124,332	210,906,052
Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - Shares Outstanding (in shares)	220,000	220,000	220,000
Settlement of Equity Units - Shares Issued/Outstanding	$ (220,000)
Ending balance - Shares Issued (in shares)	0
Ending balance - Shares Outstanding (in shares)	0	220,000	220,000
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - Shares Issued (in shares)	210,906,052	210,560,494	209,843,296
Beginning balance - Shares Outstanding (in shares)	209,495,083	209,582,212	209,216,135
Settlement of Equity Units - Shares Issued/Outstanding	$ 5,054,030
Settlement of Equity Units - Shares Outstanding (in shares)	5,054,030
Employee and director plans - Shares Issued/Treasury (in shares)	164,250	345,558	717,198
Employee and director plans - Shares Outstanding (in shares)	136,499	512,871	1,516,350
Repurchases of common stock - Shares Treasury/Outstanding (in shares)		(600,000)	(900,000)
Reacquired common stock – employee and director plans (in shares)			(250,273)
Ending balance - Shares Issued (in shares)	216,124,332	210,906,052	210,560,494
Ending balance - Shares Outstanding (in shares)	214,685,612	209,495,083	209,582,212
Common Stock | Treasury stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance - Treasury Shares (in shares)	(1,410,969)	(978,282)	(627,161)
Employee and director plans - Shares Issued/Treasury (in shares)	(27,751)	167,313	799,152
Repurchases of common stock - Shares Treasury/Outstanding (in shares)		(600,000)	(900,000)
Reacquired common stock – employee and director plans (in shares)			(250,273)
Ending balance - Treasury Shares (in shares)	(1,438,720)	(1,410,969)	(978,282)

Equity-Based Compensation (Deta

Equity-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Jan. 29, 2021	Jan. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Pre-tax equity-based compensation expense			$ 8	$ 17	$ 15
After tax equity-based compensation expense			$ 6	$ 13	$ 11
Weighted-average fair value of stock option granted under stock plans (in dollars per share)			$ 4.17	$ 9.31	$ 8.47
Options outstanding (in shares)			8,154,066
Options exercisable (in shares)			7,127,891
Weighted average exercise price (in dollars per share)			$ 42.94
UGI Stock Option Awards
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost associated with unvested unit awards			$ 2
Weighted-average period of recognition for unvested unit awards			1 year 9 months 18 days
UGI Performance Units
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average fair value of stock option granted under stock plans (in dollars per share)			$ 28.91	$ 44.62	$ 51.24
UGI Performance Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award performance period			0 years
Percentage of target award to be granted (as a percentage)			0%
UGI Performance Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award performance period			3 years
Percentage of target award to be granted (as a percentage)			200%
UGI EPS Performance Unit
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost associated with unvested unit awards			$ 14
Weighted-average period of recognition for unvested unit awards			1 year 8 months 12 days
UGI Unit awards outstanding (in shares)			1,223,190
Weighted average grant date fair value, outstanding (in dollars per share)			$ 36.16
UGI EPS Performance Unit | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award performance period		0 years
Percentage of target award to be granted (as a percentage)		0%
UGI EPS Performance Unit | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award performance period		3 years
Percentage of target award to be granted (as a percentage)		200%
2021 IAP | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award
Common Stock awards granted (up to) (in shares)	20,500,000
Expiration period	10 years
Number of common unit awards available for future grant (in shares)			15,293,516

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2024
Lessor, Lease, Description [Line Items]
Operating and finance leases not yet commenced		$ 0
Renewal term (up to)		9 years
Lease Liability Total | Segment Concentration Risk | AmeriGas Propane
Lessor, Lease, Description [Line Items]
Risk percent		80%
AmeriGas OLP
Lessor, Lease, Description [Line Items]
Sale-leaseback transaction term	6 years
Cash proceeds	$ 32,000,000
Pre tax gain	$ 29,000,000
Minimum | Vehicles
Lessor, Lease, Description [Line Items]
Operating lease remaining lease term		1 year
Maximum | Vehicles
Lessor, Lease, Description [Line Items]
Operating lease remaining lease term		10 years

Leases - Assets and Liabilities

Leases - Assets and Liabilities Lessee (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
ROU assets:
Operating lease ROU assets	$ 417	$ 420
Finance lease ROU assets	54	50
Total ROU assets	$ 471	$ 470
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Lease liabilities:
Operating lease liabilities — current	$ 86	$ 87
Operating lease liabilities — noncurrent	343	340
Finance lease liabilities — current	3	5
Finance lease liabilities — noncurrent	52	45
Total lease liabilities	$ 484	$ 477
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other noncurrent liabilities	Other noncurrent liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current maturities of long-term debt	Current maturities of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt	Long-term debt

Leases - Component of Lease Exp

Leases - Component of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 111	$ 104	$ 96
Finance lease cost:
Amortization of ROU assets	4	3	4
Interest on lease liabilities	3	3	3
Variable lease cost	1	2	6
Short-term lease cost	10	4	2
Total lease cost	129	116	111
Cash paid related to lease liabilities:
Operating cash flows — operating leases	109	103	95
Operating cash flows — finance leases	4	3	3
Financing cash flows — finance leases	2	1	2
Non-cash lease liability activities:
ROU assets obtained in exchange for operating lease liabilities	84	136	72
ROU assets obtained in exchange for finance lease liabilities	$ 7	$ 6	$ 2
Weighted-average remaining lease term (in years)
Operating leases	6 years 9 months 18 days	7 years 1 month 6 days
Finance leases	6 years 8 months 12 days	5 years 3 months 18 days
Weighted-average discount rate (%)
Operating leases	4.80%	4.50%
Finance leases	6.90%	2.20%

Leases - Operating and Finance

Leases - Operating and Finance Leases, Liability, Maturity (Details) $ in Millions	Sep. 30, 2024 USD ($)
Operating leases
2025	$ 102
2026	88
2027	75
2028	63
2029	50
After 2029	122
Total Lease Payments	500
Imputed Interest	(71)
Lease Liabilities	429
Finance leases
2025	6
2026	6
2027	6
2028	5
2029	4
After 2029	76
Total Lease Payments	103
Imputed Interest	(48)
Lease Liabilities	$ 55

Commitments and Contingencies (

Commitments and Contingencies (Details)	12 Months Ended
	Sep. 30, 2024 USD ($) subsidiary	Dec. 31, 2017 USD ($) record_of_decision	Sep. 30, 2023 USD ($)	Mar. 24, 2023 person
Loss Contingencies
Environmental expenditures cap during calendar year	$ 5,000,000
West Reading, Pennsylvania Explosion
Loss Contingencies
Number of fatalities | person				7
Number of injuries | person				11
MGP sites in Pennsylvania
Loss Contingencies
Accrual for environmental loss contingencies	$ 54,000,000		$ 52,000,000
UGI Utilities, Inc.
Loss Contingencies
Number of subsidiaries acquired with similar histories | subsidiary	2
AmeriGas OLP | Saranac Lake, New York | NYDEC ROD
Loss Contingencies
Loss contingency, number of remediation plans | record_of_decision		3
Estimated remediation plan cost		$ 28,000,000
AmeriGas OLP | Saranac Lake, New York | New York State Department of Environment Conservation Remediation Plan
Loss Contingencies
Accrual for environmental loss contingencies	$ 8,000,000		$ 8,000,000
Environmental Remediation Expense, before Recovery	19,000,000
UGI International
Loss Contingencies
Severance costs	$ 50,000,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	$ 140	$ 298
Liabilities:	(183)	(276)
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified supplemental postretirement grantor trust investments	43	39
Level 1 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified supplemental postretirement grantor trust investments	43	39
Level 2 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified supplemental postretirement grantor trust investments	0	0
Level 3 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-qualified supplemental postretirement grantor trust investments	0	0
Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	4	6
Liabilities:	(1)	(8)
Commodity contracts | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	133	232
Liabilities:	(152)	(274)
Commodity contracts | Level 1 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	106	117
Liabilities:	(120)	(193)
Commodity contracts | Level 2 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	27	115
Liabilities:	(32)	(81)
Commodity contracts | Level 3 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	0	0
Liabilities:	0	0
Foreign currency contracts | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	6	38
Liabilities:	(9)	(2)
Foreign currency contracts | Level 1 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	0	0
Liabilities:	0	0
Foreign currency contracts | Level 2 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	6	38
Liabilities:	(9)	(2)
Foreign currency contracts | Level 3 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	0	0
Liabilities:	0	0
Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities:	(22)
Interest rate contracts | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	1	28
Interest rate contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities:	0
Interest rate contracts | Level 1 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	0	0
Interest rate contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities:	(22)
Interest rate contracts | Level 2 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	1	28
Interest rate contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities:	0
Interest rate contracts | Level 3 | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment of goodwill	$ 195	$ 656	$ 0
AmeriGas Propane
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment of goodwill	195	$ 656
Held-for-Sale, Not Discontinued Operations | UGID
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Pre-tax impairment charges	$ 62

Fair Value Measurements - Long-

Fair Value Measurements - Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Carrying amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	$ 6,733	$ 6,647
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value	$ 6,663	$ 6,238

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Net (losses) gains on derivative instruments		$ (14,000,000)	$ 16,000,000	$ 64,000,000
Pre-tax net losses associated with interest rate hedges		6,000,000
Pre-tax (losses) gains associated with net investment hedges		(39,000,000)	(57,000,000)	$ 123,000,000
Maximum amount of loss		140,000,000
Cash collateral received		14,000,000	40,000,000
IRPA
Derivative [Line Items]
Derivative, notional amount		$ 0	$ 0
Foreign Exchange Forward
Derivative [Line Items]
Potential exposure coverage, percent (as a percentage)		90%
Revolver | Line of Credit
Derivative [Line Items]
Net (losses) gains on derivative instruments	$ 32,000,000

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Notional Amounts (Details) € in Millions, kWh in Millions, gal in Millions, DTH in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2024 USD ($) DTH kWh gal	Sep. 30, 2023 USD ($) DTH kWh gal	Sep. 30, 2024 EUR (€) DTH	Sep. 30, 2023 EUR (€) DTH
Interest rate swaps
Derivative [Line Items]
Notional amount	$ 1,231	$ 1,270	€ 300	€ 300
Forward foreign currency exchange contracts
Derivative [Line Items]
Notional amount	$ 389	$ 425	€ 181	€ 256
Natural Gas | Commodity contracts | Regulated Utility Operations
Derivative [Line Items]
Notional amount (in units)	26	38	26	38
Natural Gas | Natural gas futures, forward, basis swap, options and pipeline contracts | Non-utility Operations
Derivative [Line Items]
Notional amount (in units)	325	338	325	338
LPG swaps | Commodity contracts | Non-utility Operations
Derivative [Line Items]
LPG swaps (in gallons) | gal	458	727
Electricity forward and futures contracts | Commodity contracts | Non-utility Operations
Derivative [Line Items]
Electricity forward and futures contracts (in kilowatt hours) | kWh	1,113	1,260

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Derivative assets:
Total derivative assets – gross	$ 140	$ 298
Gross amounts offset in the balance sheet	(88)	(124)
Cash collateral received	(14)	(40)
Total derivative assets – net	38	134
Derivative liabilities:
Total derivative liabilities – gross	(183)	(276)
Gross amounts offset in the balance sheet	88	124
Cash collateral pledged	36	53
Total derivative liabilities – net	(59)	(99)
Interest rate contracts
Derivative liabilities:
Total derivative liabilities – gross	(22)
Commodity contracts
Derivative assets:
Total derivative assets – gross	4	6
Derivative liabilities:
Total derivative liabilities – gross	(1)	(8)
Derivatives designated as hedging instruments:
Derivative assets:
Total derivative assets – gross	7	42
Derivatives designated as hedging instruments: | Foreign currency contracts
Derivative assets:
Total derivative assets – gross	6	14
Derivatives designated as hedging instruments: | Interest rate contracts
Derivative assets:
Total derivative assets – gross	1	28
Derivative liabilities:
Total derivative liabilities – gross	(22)	0
Derivatives not designated as hedging instruments:
Derivative assets:
Total derivative assets – gross	129	250
Derivative liabilities:
Total derivative liabilities – gross	(160)	(268)
Derivatives not designated as hedging instruments: | Foreign currency contracts
Derivative assets:
Total derivative assets – gross	0	24
Derivative liabilities:
Total derivative liabilities – gross	(9)	(2)
Derivatives not designated as hedging instruments: | Commodity contracts
Derivative assets:
Total derivative assets – gross	129	226
Derivative liabilities:
Total derivative liabilities – gross	$ (151)	$ (266)

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI and Noncontrolling Interest (Details) - Derivatives Not Designated as Hedging Instruments: - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	$ (107)	$ (1,781)	$ 1,236
Interest rate contracts | Cash Flow Hedges:
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in AOCI	(19)	25	91
Interest rate contracts | Cash Flow Hedges: | Interest expense
Derivative Instruments, Gain (Loss)
Gain (Loss) Reclassified from AOCI into Income	49	40	(7)
Commodity contracts | Revenues
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	1	11	(9)
Commodity contracts | Cost of sales
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	(92)	(1,771)	1,181
Commodity contracts | Other operating income, net
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	3	2	1
Foreign currency contracts | Other non-operating (expense) income, net
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	(19)	(23)	63
Foreign currency contracts | Net Investment Hedges:
Derivative Instruments, Gain (Loss)
Foreign currency contracts	$ (5)	$ (21)	$ 69

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax
Balance, beginning of year	$ 4,394	$ 6,074
Other comprehensive income (loss) before reclassification adjustments	35	153	$ (249)
Amounts reclassified from AOCI	(32)	(29)	9
Other comprehensive income (loss)	3	124	(240)
Balance, ending of year	4,354	4,394	6,074
Total
AOCI Attributable to Parent, Net of Tax
Balance, beginning of year	(256)	(380)	(140)
Balance, ending of year	(253)	(256)	(380)
Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax
Balance, beginning of year	17	14	(17)
Other comprehensive income (loss) before reclassification adjustments	(7)	5	28
Amounts reclassified from AOCI	0	(2)	3
Other comprehensive income (loss)	(7)	3	31
Balance, ending of year	10	17	14
Derivative Instruments
AOCI Attributable to Parent, Net of Tax
Balance, beginning of year	26	37	(33)
Other comprehensive income (loss) before reclassification adjustments	(14)	16	64
Amounts reclassified from AOCI	(35)	(27)	6
Other comprehensive income (loss)	(49)	(11)	70
Balance, ending of year	(23)	26	37
Foreign Currency
AOCI Attributable to Parent, Net of Tax
Balance, beginning of year	(299)	(431)	(90)
Other comprehensive income (loss) before reclassification adjustments	56	132	(341)
Amounts reclassified from AOCI	3	0	0
Other comprehensive income (loss)	59	132	(341)
Balance, ending of year	$ (240)	$ (299)	$ (431)

Other Operating Income, Net a_3

Other Operating Income, Net and Other Non-Operating Income (Expense), Net - Other Operating Income, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment
Finance charges	$ 16	$ 17	$ 18
Gains on sales of fixed assets, net	22	61	33
Foreign currency transaction gains (losses)	2	7	(5)
Cylinder deposit income	17	23	18
Interest and interest-related income	11	6	1
Other, net	(6)	18	14
Total other operating income, net	$ 62	132	$ 79
Building
Property, Plant and Equipment
Gains on sales of fixed assets, net		$ 15

Other Operating Income, Net a_4

Other Operating Income, Net and Other Non-Operating Income (Expense), Net - Schedule of Other Non-Operating (Expense) Income, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Component of Operating Income [Abstract]
(Losses) gains on foreign currency contracts, net	$ (19)	$ (23)	$ 63
Amortization of excluded components of certain net investment hedges	5	7	7
Pension and other postretirement plans non-service income, net	6	9	5
Total other non-operating (expense) income, net	$ (8)	$ (7)	$ 75

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 370	$ 299	$ 130
Midstream & Marketing
Schedule of Equity Method Investments [Line Items]
Carrying Value	359	264
UGI International
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 10	35
Aurum Renewables
Schedule of Equity Method Investments [Line Items]
Ownership Interest	40%
Aurum Renewables | Midstream & Marketing
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 47	$ 45
Ownership Interest		40%
Pine Run | Midstream & Marketing
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 86	$ 77
Ownership Interest	49%	49%
MBL Bioenergy | Midstream & Marketing
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 206	$ 122
Ownership Interest	99.99%	99.99%
Other | Midstream & Marketing
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 20	$ 20
Other
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 1	$ 0

Equity Method Investments - Nar

Equity Method Investments - Narrative (Details) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2023 standardCubicFeet MW	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Corporate Joint Venture
Schedule of Equity Method Investments [Line Items]
Pre-tax impairment charge		$ 26
Other
Schedule of Equity Method Investments [Line Items]
Pre-tax impairment charge		$ 31	$ 55
Aurum Renewables
Schedule of Equity Method Investments [Line Items]
Landfill gas units | MW	11
Effective ownership interest in AmeriGas OLP (as a percentage)	40%
Expected production capacity per day | standardCubicFeet	9,600

Segment Information - Narrative

Segment Information - Narrative (Details)	12 Months Ended
	Sep. 30, 2024 state segment
Segment Reporting [Abstract]
Number of reportable segments | segment	4
Number of states to which product sale with propane revenue | state	50
France | Geographic Concentration Risk | Revenues
Segment Reporting Information [Line Items]
Concentration risk, percentage (as a percentage)	20%
France | Geographic Concentration Risk | Long-lived Assets
Segment Reporting Information [Line Items]
Concentration risk, percentage (as a percentage)	10%

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 7,210	$ 8,928	$ 10,106
Cost of sales	3,529	6,937	5,973
Operating income (loss)	770	(1,444)	1,666
(Loss) income from equity investees	(19)	2	(14)
Loss on extinguishments of debt	(9)	(9)	(11)
Other non-operating (loss) income, net	(8)	(7)	75
Earnings (loss) before interest expense and income taxes	734	(1,458)	1,716
Interest expense	(394)	(379)	(329)
Income tax benefit (expense)	(71)	335	(313)
Noncontrolling interests’ net income	0	0	(1)
Net income (loss) attributable to UGI Corporation	269	(1,502)	1,073
Depreciation and amortization	551	532	518
Total assets	15,098	15,401	17,575
Short-term borrowings	465	649	368
Capital expenditures (including the effects of accruals)	805	956	835
Investments in equity investees	370	299	130
Midstream & Marketing
Segment Reporting Information [Line Items]
Loss on extinguishments of debt	(1)	0	0
Investments in equity investees	359	264
UGI International
Segment Reporting Information [Line Items]
Loss on extinguishments of debt	0	0	(11)
Investments in equity investees	10	35
AmeriGas Propane
Segment Reporting Information [Line Items]
Loss on extinguishments of debt	(8)	(9)	0
Elim- inations
Segment Reporting Information [Line Items]
Revenues	(266)	(326)	(477)
Cost of sales	(266)	(325)	(474)
Operating income (loss)	0	0	0
(Loss) income from equity investees	0	0	0
Loss on extinguishments of debt	0	0	0
Other non-operating (loss) income, net	0	0	0
Earnings (loss) before interest expense and income taxes	0	0	0
Interest expense	0	0	0
Income tax benefit (expense)	0	0	0
Noncontrolling interests’ net income			0
Net income (loss) attributable to UGI Corporation	0	0	0
Depreciation and amortization	0	0	0
Total assets	(733)	(173)	(203)
Short-term borrowings	0	0	0
Capital expenditures (including the effects of accruals)	0		0
Investments in equity investees	0	0	0
Elim- inations | UGI Utilities, Inc.
Segment Reporting Information [Line Items]
Revenues	49	74	105
Elim- inations | Midstream & Marketing
Segment Reporting Information [Line Items]
Revenues	217	251	369
Elim- inations | UGI International
Segment Reporting Information [Line Items]
Revenues	0	0	0
Elim- inations | AmeriGas Propane
Segment Reporting Information [Line Items]
Revenues	0	0	0
Operating Segments | UGI Utilities, Inc.
Segment Reporting Information [Line Items]
Revenues	1,598	1,854	1,620
Revenues from external customers	1,549	1,780	1,515
Cost of sales	650	953	798
Operating income (loss)	394	357	327
(Loss) income from equity investees	0	0	0
Loss on extinguishments of debt	0	0	0
Other non-operating (loss) income, net	6	8	9
Earnings (loss) before interest expense and income taxes	400	365	336
Interest expense	(93)	(82)	(65)
Income tax benefit (expense)	(70)	(64)	(65)
Noncontrolling interests’ net income			0
Net income (loss) attributable to UGI Corporation	237	219	206
Depreciation and amortization	166	152	144
Total assets	5,963	5,691	5,354
Short-term borrowings	286	332	236
Capital expenditures (including the effects of accruals)	482	563	562
Investments in equity investees	0	0	0
Operating Segments | Midstream & Marketing
Segment Reporting Information [Line Items]
Revenues	1,369	1,847	2,326
Revenues from external customers	1,152	1,596	1,957
Cost of sales	864	1,360	1,876
Operating income (loss)	301	285	246
(Loss) income from equity investees	12	6	23
Loss on extinguishments of debt	0	0	0
Other non-operating (loss) income, net	0	0	0
Earnings (loss) before interest expense and income taxes	313	291	269
Interest expense	(41)	(45)	(41)
Income tax benefit (expense)	(34)	(53)	(65)
Noncontrolling interests’ net income			0
Net income (loss) attributable to UGI Corporation	238	193	163
Depreciation and amortization	86	86	79
Total assets	3,183	3,160	3,286
Short-term borrowings	0	103	0
Capital expenditures (including the effects of accruals)	150	130	38
Investments in equity investees	359	264	109
Operating Segments | UGI International
Segment Reporting Information [Line Items]
Revenues	2,279	2,965	3,686
Cost of sales	1,301	2,045	2,751
Operating income (loss)	311	215	237
(Loss) income from equity investees	(5)	(4)	(2)
Loss on extinguishments of debt	0	0	0
Other non-operating (loss) income, net	17	23	19
Earnings (loss) before interest expense and income taxes	323	234	254
Interest expense	(44)	(37)	(28)
Income tax benefit (expense)	(17)	(25)	(50)
Noncontrolling interests’ net income			(1)
Net income (loss) attributable to UGI Corporation	262	172	175
Depreciation and amortization	119	116	116
Total assets	2,906	3,105	4,610
Short-term borrowings	128	214	1
Capital expenditures (including the effects of accruals)	87	129	107
Investments in equity investees	10	35	20
Operating Segments | AmeriGas Propane
Segment Reporting Information [Line Items]
Revenues	2,271	2,581	2,943
Cost of sales	1,059	1,250	1,613
Operating income (loss)	142	268	307
(Loss) income from equity investees	0	0	0
Loss on extinguishments of debt	0	0	0
Other non-operating (loss) income, net	0	0	0
Earnings (loss) before interest expense and income taxes	142	268	307
Interest expense	(156)	(163)	(160)
Income tax benefit (expense)	(9)	(34)	(35)
Noncontrolling interests’ net income			0
Net income (loss) attributable to UGI Corporation	(23)	71	112
Depreciation and amortization	178	177	177
Total assets	3,051	3,415	4,332
Short-term borrowings	51	0	131
Capital expenditures (including the effects of accruals)	86	134	128
Investments in equity investees	0	0	0
Corporate & Other
Segment Reporting Information [Line Items]
Revenues from external customers	(41)	6	5
Cost of sales	(79)	1,654	(591)
Operating income (loss)	(378)	(2,569)	549
(Loss) income from equity investees	(26)	0	(35)
Loss on extinguishments of debt	(9)	(9)	(11)
Other non-operating (loss) income, net	(31)	(38)	47
Earnings (loss) before interest expense and income taxes	(444)	(2,616)	550
Interest expense	(60)	(52)	(35)
Income tax benefit (expense)	59	511	(98)
Noncontrolling interests’ net income			0
Net income (loss) attributable to UGI Corporation	(445)	(2,157)	417
Depreciation and amortization	2	1	2
Total assets	728	203	196
Short-term borrowings	0	0	0
Capital expenditures (including the effects of accruals)	0	0	0
Investments in equity investees	1	0	1
Corporate, Intersegment Eliminations & Other
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 1	$ 3

Segment Information - Reconcili

Segment Information - Reconciliation of Partnership Adjusted EBITDA (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	$ (10)	$ (1,682)	$ 648
Loss on extinguishments of debt	(9)	(9)	(11)
Loss associated with impairment of AmeriGas Propane goodwill	(195)	(656)	0
Loss on disposal of UGID	(95)	(221)	0
Midstream & Marketing
Segment Reporting Information [Line Items]
AmeriGas operations enhancement for growth project	0	0	0
Restructuring costs	(1)		(1)
Loss on extinguishments of debt	(1)	0	0
Impairments of equity method investments and assets	0		(35)
Loss associated with impairment of AmeriGas Propane goodwill	0	0
Loss on disposal of UGID	(66)
Midstream & Marketing | Revenues
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	0	6	(4)
Costs associated with exit of the UGI International energy marketing business	0
Midstream & Marketing | Cost of Sales
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	63	(236)	(21)
Midstream & Marketing | Other operating income, net
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	0		0
Midstream & Marketing | Other non-operating (expense) income, net
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	0	0	0
Midstream & Marketing | Operating and administrative expenses; Other operating income, net
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business	0
Midstream & Marketing | Revenues; Operating and administrative expenses
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business		0
Midstream & Marketing | Loss on disposals of businesses
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business	0	0
UGI International
Segment Reporting Information [Line Items]
AmeriGas operations enhancement for growth project	0	0	0
Restructuring costs	(57)		(9)
Loss on extinguishments of debt	0	0	(11)
Impairments of equity method investments and assets	(33)		(5)
Loss associated with impairment of AmeriGas Propane goodwill	0	0
Loss on disposal of UGID	0
UGI International | Revenues
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	1	4	9
Costs associated with exit of the UGI International energy marketing business	(42)
UGI International | Cost of Sales
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	(5)	(1,402)	797
UGI International | Other operating income, net
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	(3)		2
UGI International | Other non-operating (expense) income, net
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	(31)	(38)	50
UGI International | Operating and administrative expenses; Other operating income, net
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business	(13)
UGI International | Revenues; Operating and administrative expenses
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business		(27)
UGI International | Loss on disposals of businesses
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business	(29)	(221)
AmeriGas Propane
Segment Reporting Information [Line Items]
AmeriGas operations enhancement for growth project	(25)	(24)	(5)
Restructuring costs	(1)		(16)
Loss on extinguishments of debt	(8)	(9)	0
Impairments of equity method investments and assets	0		0
Loss associated with impairment of AmeriGas Propane goodwill	(195)	(656)
Loss on disposal of UGID	0
AmeriGas Propane | Revenues
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	0	0	0
Costs associated with exit of the UGI International energy marketing business	0
AmeriGas Propane | Cost of Sales
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	21	(16)	(185)
AmeriGas Propane | Other operating income, net
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	0		0
AmeriGas Propane | Other non-operating (expense) income, net
Segment Reporting Information [Line Items]
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	0	0	$ 0
AmeriGas Propane | Operating and administrative expenses; Other operating income, net
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business	0
AmeriGas Propane | Revenues; Operating and administrative expenses
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business		0
AmeriGas Propane | Loss on disposals of businesses
Segment Reporting Information [Line Items]
Costs associated with exit of the UGI International energy marketing business	$ 0	$ 0

SCHEDULE I _ CONDENSED FINANC_3

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) - BALANCE SHEETS (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Current assets
Cash and cash equivalents	$ 213	$ 241	$ 405
Prepaid expenses and other current assets	69	127
Total current assets	1,651	2,045
Other assets	1,112	988
Total assets	15,098	15,401	$ 17,575
Current liabilities
Current maturities of long-term debt	235	57
Derivative instruments	28	60
Total current liabilities	2,060	2,274
Long-term debt	6,443	6,543
Other noncurrent liabilities	1,202	1,235
Total liabilities	10,744	11,007
Commitments and contingencies (Note 1)
Equity:
Preferred Stock, without par value (authorized - 5,000,000; issued - 0 and 220,000, respectively)	0	167
Common Stock, without par value (authorized – 450,000,000 shares; issued – 216,124,332 and 210,906,052 shares, respectively)	1,676	1,503
Retained earnings	2,978	3,027
Accumulated other comprehensive loss	(253)	(256)
Treasury stock, at cost	(56)	(55)
Total UGI Corporation stockholders’ equity	4,345	4,386
Total liabilities and equity	$ 15,098	$ 15,401
Condensed Financial Information of Registrant [Abstract]
UGI Preferred Stock, without par value, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	220,000	220,000	220,000
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	216,124,332	210,906,052
Parent Company
Current assets
Cash and cash equivalents	$ 4	$ 7
Accounts receivable – related parties	23	11
Prepaid expenses and other current assets	2	23
Total current assets	29	41
Investments in subsidiaries	5,625	5,343
Other assets	145	143
Total assets	5,799	5,527
Current liabilities
Current maturities of long-term debt	0	38
Accounts and notes payable	15	28
Derivative instruments	1	0
Accrued liabilities	58	39
Total current liabilities	74	105
Long-term debt	1,312	969
Other noncurrent liabilities	68	67
Total liabilities	1,454	1,141
Commitments and contingencies (Note 1)
Equity:
Preferred Stock, without par value (authorized - 5,000,000; issued - 0 and 220,000, respectively)	0	167
Common Stock, without par value (authorized – 450,000,000 shares; issued – 216,124,332 and 210,906,052 shares, respectively)	1,676	1,503
Retained earnings	2,978	3,027
Accumulated other comprehensive loss	(253)	(256)
Treasury stock, at cost	(56)	(55)
Total UGI Corporation stockholders’ equity	4,345	4,386
Total liabilities and equity	$ 5,799	$ 5,527
Condensed Financial Information of Registrant [Abstract]
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	216,124,332	210,906,052

SCHEDULE I _ CONDENSED FINANC_4

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) - Narrative (Details) - Parent Company $ in Millions	12 Months Ended
	Sep. 30, 2024 USD ($)
Guarantee Obligations [Line Items]
Surety bonds indemnified	$ 110
Maximum amount authorized to guarantee obligations to suppliers and customers (up to)	475
Current carrying value	$ 371

SCHEDULE I _ CONDENSED FINANC_5

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) - STATEMENTS OF INCOME (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 7,210	$ 8,928	$ 10,106
Costs and expenses:
Operating and administrative expenses	2,132	2,158	2,028
Other operating income, net	(62)	(132)	(79)
Total costs and expenses	6,440	10,372	8,440
Operating income (loss)	770	(1,444)	1,666
Pension and other postretirement plans non-service expense	6	9	5
Income tax benefit	71	(335)	313
Equity in income (loss) of unconsolidated subsidiaries	(19)	2	(14)
Net income (loss) attributable to UGI Corporation	269	(1,502)	1,073
Comprehensive income (loss) attributable to UGI Corporation	$ 272	$ (1,378)	$ 833
Earnings (loss) per common share attributable to UGI Corporation stockholders:
Basic (in dollars per share)	$ 1.27	$ (7.16)	$ 5.11
Diluted (in dollars per share)	$ 1.25	$ (7.16)	$ 4.97
Weighted - average common shares outstanding (thousands):
Basic (in shares)	211,309	209,806	209,940
Diluted (in shares)	215,271	209,806	215,821
Parent Company
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 0	$ 0	$ 0
Costs and expenses:
Operating and administrative expenses	100	95	74
Other operating income, net	(86)	(83)	(63)
Total costs and expenses	14	12	11
Operating income (loss)	(14)	(12)	(11)
Pension and other postretirement plans non-service expense	0	0	(3)
Interest expense	(61)	(52)	(35)
Loss before income taxes	(75)	(64)	(49)
Income tax benefit	(7)	(13)	0
Loss before equity in income of unconsolidated subsidiaries	(68)	(51)	(49)
Equity in income (loss) of unconsolidated subsidiaries	337	(1,451)	1,122
Net income (loss) attributable to UGI Corporation	269	(1,502)	1,073
Other comprehensive (loss) income	(17)	(8)	34
Equity in other comprehensive income (loss) of unconsolidated subsidiaries	20	132	(274)
Comprehensive income (loss) attributable to UGI Corporation	$ 272	$ (1,378)	$ 833
Earnings (loss) per common share attributable to UGI Corporation stockholders:
Basic (in dollars per share)	$ 1.27	$ (7.16)	$ 5.11
Diluted (in dollars per share)	$ 1.25	$ (7.16)	$ 4.97
Weighted - average common shares outstanding (thousands):
Basic (in shares)	211,309	209,806	209,940
Diluted (in shares)	215,271	209,806	215,821

SCHEDULE I _ CONDENSED FINANC_6

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) - STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Condensed Financial Statements, Captions [Line Items]
NET CASH PROVIDED BY OPERATING ACTIVITIES	$ 1,182	$ 1,107	$ 716
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used by investing activities	(792)	(1,077)	(1,012)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends on UGI Common Stock	(318)	(308)	(296)
Issuances of debt, net of issuance costs	1,321	1,930	1,257
Issuances of UGI Common Stock	0	12	19
Repurchases of UGI Common Stock	0	(22)	(38)
Net cash used by financing activities	(506)	(168)	(51)
Cash, cash equivalents and restricted cash decrease	(112)	(129)	(408)
Cash and cash equivalents:
Cash, cash equivalents and restricted cash at end of year	228	340	469
Cash, cash equivalents and restricted cash at beginning of year	340	469	877
Cash and cash equivalents (decrease) increase	(112)	(129)	(408)
Parent Company
Condensed Financial Statements, Captions [Line Items]
NET CASH PROVIDED BY OPERATING ACTIVITIES	379	636	485
CASH FLOWS FROM INVESTING ACTIVITIES
Return of capital distributions	0	0	175
Net investments in unconsolidated subsidiaries	(355)	(309)	(390)
Net cash used by investing activities	(355)	(309)	(215)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends on UGI Common Stock	(318)	(308)	(296)
Issuances of debt, net of issuance costs	1,078	327	597
Repayments of long-term debt	(775)	(333)	(530)
Issuances of UGI Common Stock	0	12	19
Repurchases of UGI Common Stock	0	(22)	(38)
Payments on Purchase Contracts	(12)	(16)	(16)
Net cash used by financing activities	(27)	(340)	(264)
Cash, cash equivalents and restricted cash decrease	(3)	(13)	6
Cash and cash equivalents:
Cash, cash equivalents and restricted cash at end of year	4	7	20
Cash, cash equivalents and restricted cash at beginning of year	7	20	14
Cash and cash equivalents (decrease) increase	(3)	(13)	6
Dividends from unconsolidated subsidiaries	$ 420	$ 680	$ 506

SCHEDULE II _ VALUATION AND Q_2

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2022
Allowance for doubtful accounts
Valuation and Qualifying Account
Balance at beginning of year	$ 71	$ 64	$ 53
Charged (credited) to costs and expenses	61	69	61
Other	(64)	(62)	(50)
Balance at end of year	68	71	64
Deferred tax assets valuation allowance
Valuation and Qualifying Account
Balance at beginning of year	141	141	138
Charged (credited) to costs and expenses	16	(38)	(14)
Other	(27)	38	17
Balance at end of year	$ 130	$ 141	$ 141