Employee Retirement Plans (Tables)

12 Months Ended

Sep. 30, 2013

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Change in Pension Benefits and Other postretirement benefits Obligations, plan assets, and the funded status

The following table provides a reconciliation of the projected benefit obligations (“PBOs”) of the Pension Plan, the accumulated benefit obligations (“ABOs”) of our other postretirement benefit plans, plan assets and the funded status of the Pension Plan and other postretirement plans as of September 30, 2013 and 2012. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect future compensation.

	Pension Benefits						Other Postretirement Benefits
	2013			2012			2013			2012
Change in benefit obligations:
Benefit obligations — beginning of year	$	543,605		$	456,714		$	14,560		$	13,333
Service cost	9,385			8,063			223			162
Interest cost	22,784			24,095			587			665
Actuarial (gain) loss	(69,112		)	74,676			(1,881		)	1,464
Plan amendments	993			—			(1,836		)	—
Benefits paid	(21,187		)	(19,943		)	(965		)	(1,064		)
Benefit obligations — end of year	$	486,468		$	543,605		$	10,688		$	14,560
Change in plan assets:
Fair value of plan assets — beginning of year	$	351,543		$	289,764		$	11,205		$	9,805
Actual gain on assets	45,450			50,550			1,117			1,741
Employer contributions	22,365			31,172			366			723
Benefits paid	(21,187		)	(19,943		)	(965		)	(1,064		)
Fair value of plan assets — end of year	$	398,171		$	351,543		$	11,723		$	11,205
Funded status of the plans — end of year	$	(88,297	)	$	(192,062	)	$	1,035		$	(3,355	)
(Liabilities) recorded in the balance sheet:
Assets in excess of liabilities — included in other noncurrent assets	$	—		$	—		$	3,252		$	—
Unfunded liabilities — included in other current liabilities	(17,885		)	(15,802		)	(372		)	(654		)
Unfunded liabilities — included in other noncurrent liabilities	(70,412		)	(176,260		)	(1,844		)	(2,701		)
Net amount recognized	$	(88,297	)	$	(192,062	)	$	1,036		$	(3,355	)
Amounts recorded in stockholder’s equity (pre-tax):
Prior service cost (credit)	$	222		$	152		$	(74	)	$	(79	)
Net actuarial loss (gain)	9,113			18,099			(222		)	164
Total	$	9,335		$	18,251		$	(296	)	$	85
Amounts recorded in regulatory assets and liabilities (pre-tax):
Prior service cost (credit)	$	2,223		$	1,550		$	(4,286	)	$	(2,766	)
Net actuarial loss	91,275			184,464			3,586			5,815
Total	$	93,498		$	186,014		$	(700	)	$	3,049

Actuarial assumptions for our domestic plans

The expected rate of return on assets assumption is based on the current and expected asset allocations as well as historical and expected returns on various categories of plan assets as further described below.

	Pension Benefits						Other Postretirement Benefits
Weighted-average assumptions:	2013		2012		2011 (a)		2013		2012		2011
Discount rate - benefit obligations	5.20	%	4.20	%	5.30	%	5.10% - 5.40%		4.10% - 4.30%		5.30	%
Discount rate - benefit cost	4.20	%	5.30	%	5.00	%	4.10% - 4.30%		5.30	%	5.00	%
Expected return on plan assets	7.75	%	7.75	%	8.00	%	5.00	%	5.20	%	5.50	%
Rate of increase in salary levels	3.25	%	3.25	%	3.50	%	3.25	%	3.25	%	3.50	%

(a) Effective December 31, 2010, we merged our then-existing two U.S. defined benefit pension plans (“Pension Plans Merger”) to form the Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the Pension Plans Merger) and 5.5%

Component of net periodic pension expense and other postretirement benefit costs

Net periodic pension and other postretirement benefit costs relating to the Company’s employees include the following components:

	Pension Benefits									Other Postretirement Benefits
	2013			2012			2011			2013			2012			2011
Service cost	$	8,211		$	7,025		$	7,176		$	205		$	152		$	202
Interest cost	20,783			22,376			22,047			557			639			678
Expected return on assets	(24,791		)	(23,762		)	(23,937		)	(529		)	(481		)	(523		)
Curtailment gain	—			—			—			—			—			(3,245		)
Amortization of:
Prior service cost (benefit)	249			249			302			(420		)	(422		)	(694		)
Actuarial loss	13,463			7,853			6,838			336			355			427
Net benefit cost (income)	17,915			13,741			12,426			149			243			(3,155		)
Change in associated regulatory liabilities	—			—			—			3,302			3,188			3,138
Benefit cost (income) after change in regulatory liabilities	$	17,915		$	13,741		$	12,426		$	3,451		$	3,431		$	(17	)

Expected payments for pension benefits and other postretirement welfare benefits

Expected payments for pension benefits and other postretirement welfare benefits are as follows:

	Pension Benefits		Other Postretirement Benefits
Fiscal 2014	$	23,021	$	1,006
Fiscal 2015	24,095		813
Fiscal 2016	25,238		769
Fiscal 2017	26,451		706
Fiscal 2018	27,744		676
Fiscal 2019 - 2023	155,907		3,156

Pension Plans

The targets, target ranges and actual allocations for the Pension Plan and VEBA trust assets at September 30 are as follows:

					Target
	Actual				Asset		Permitted
Pension Plan:	2013		2012		Allocation		Range
Equity investments:
Domestic	57.5	%	53.5	%	52.5	%	40.0% - 65.0%
International	11.1	%	10.5	%	12.5	%	7.5% - 17.5%
Total	68.6	%	64.0	%	65.0	%	60.0% - 70.0%
Fixed income funds & cash equivalents	31.4	%	36.0	%	35.0	%	30.0% - 40.0%
Total	100.0	%	100.0	%	100.0	%

					Target
	Actual				Asset		Permitted
VEBA:	2013		2012		Allocation		Range
Domestic equity investments	65.6	%	68.5	%	65.0	%	60.0% - 70.0%
Fixed income funds & cash equivalents	34.4	%	31.5	%	35.0	%	30.0% - 40.0%
Total	100.0	%	100.0	%	100.0	%

Fair value of U.S. pension plan and VEBA trust assets

The fair values of the Pension Plan’s assets at September 30, 2013 and 2012, by asset class are as follows:

	Pension Plan
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total
September 30, 2013:
Domestic equity investments:
S&P 500 Index equity mutual funds	$	141,774	$	—	$	—	$	141,774
Small and Midcap equity mutual funds	54,528		—		—		54,528
UGI Corporation Common Stock	32,551		—		—		32,551
Total domestic equity investments	228,853		—		—		228,853
International index equity mutual funds	44,452		—		—		44,452
Fixed income investments:
Bond index mutual funds	120,906		—		—		120,906
Cash equivalents	—		3,960		—		3,960
Total fixed income investments	120,906		3,960		$	—	124,866
Total	$	394,211	$	3,960	$	—	$	398,171
September 30, 2012:
Equity investments:
S&P 500 Index equity mutual funds	$	118,922	$	—	$	—	$	118,922
Small and Midcap equity mutual funds	42,876		—		—		42,876
UGI Corporation Common Stock	26,445		—		—		26,445
Total domestic equity investments	188,243		—		—		188,243
International index equity mutual funds	36,908		—		—		36,908
Fixed income investments:
Bond index mutual funds	123,332		—		—		123,332
Cash equivalents	—		3,060		—		3,060
Total fixed income investments	123,332		3,060		—		126,392
Total	$	348,483	$	3,060	$	—	$	351,543

The fair values of the VEBA trust assets at September 30, 2013 and 2012, by asset class are as follows:

	VEBA
	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)		Total
September 30, 2013:
S&P 500 Index equity mutual fund	$	7,693	$	—	$	—	$	7,693
Bond index mutual fund	3,794		—		—		3,794
Cash equivalents	—		236		—		236
Total	$	11,487	$	236	$	—	$	11,723
September 30, 2012:
S&P 500 Index equity mutual fund	$	7,678	$	—	$	—	$	7,678
Bond index mutual fund	3,366		—		—		3,366
Cash equivalents	—		161		—		161
Total	$	11,044	$	161	$	—	$	11,205