Employee Retirement Plans (Tables)

12 Months Ended

Sep. 30, 2014

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

Change in Pension Benefits and Other Postretirement Benefit Obligations, Plan Assets, and 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, 2014 and 2013. 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
	2014			2013			2014			2013
Change in benefit obligations:
Benefit obligations — beginning of year	$	486,468		$	543,605		$	10,688		$	14,560
Service cost	7,309			9,385			175			223
Interest cost	25,102			22,784			519			587
Actuarial loss (gain)	43,064			(69,112		)	205			(1,881		)
Plan amendments	—			993			—			(1,836		)
Benefits paid	(22,218		)	(21,187		)	(451		)	(965		)
Benefit obligations — end of year	$	539,725		$	486,468		$	11,136		$	10,688
Change in plan assets:
Fair value of plan assets — beginning of year	$	398,171		$	351,543		$	11,723		$	11,205
Actual gain on assets	47,285			45,450			1,434			1,117
Employer contributions	19,227			22,365			142			366
Benefits paid	(22,218		)	(21,187		)	(451		)	(965		)
Fair value of plan assets — end of year	$	442,465		$	398,171		$	12,848		$	11,723
Funded status of the plans — end of year	$	(97,260	)	$	(88,297	)	$	1,712		$	1,035
(Liabilities) recorded in the balance sheet:
Assets in excess of liabilities — included in other noncurrent assets	$	—		$	—		$	3,971		$	3,252
Unfunded liabilities — included in other current liabilities	(1,100		)	(17,885		)	(159		)	(372		)
Unfunded liabilities — included in other noncurrent liabilities	(96,160		)	(70,412		)	(2,100		)	(1,845		)
Net amount recognized	$	(97,260	)	$	(88,297	)	$	1,712		$	1,035
Amounts recorded in stockholder’s equity (pre-tax):
Prior service cost (credit)	$	189		$	222		$	(61	)	$	(74	)
Net actuarial loss (gain)	10,662			9,113			(46		)	(222		)
Total	$	10,851		$	9,335		$	(107	)	$	(296	)
Amounts recorded in regulatory assets and liabilities (pre-tax):
Prior service cost (credit)	$	1,908		$	2,223		$	(3,625	)	$	(4,286	)
Net actuarial loss	107,363			91,275			2,616			3,586
Total	$	109,271		$	93,498		$	(1,009	)	$	(700	)

Actuarial Assumptions for Domestic 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 Benefits						Other Postretirement Benefits
Weighted-average assumptions:	2014		2013		2012		2014		2013		2012
Discount rate - benefit obligations	4.60	%	5.20	%	4.20	%	4.60	%	5.10% - 5.40%		4.10% - 4.30%
Discount rate - benefit cost	5.20	%	4.20	%	5.30	%	5.10% - 5.40%		4.10% - 4.30%		5.30	%
Expected return on plan assets	7.75	%	7.75	%	7.75	%	5.00	%	5.00	%	5.20	%
Rate of increase in salary levels	3.25	%	3.25	%	3.25	%	3.25	%	3.25	%	3.25	%

Components 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
	2014			2013			2012			2014			2013			2012
Service cost	$	6,492		$	8,211		$	7,025		$	162		$	205		$	152
Interest cost	22,885			20,783			22,376			488			557			639
Expected return on assets	(26,599		)	(24,791		)	(23,762		)	(557		)	(529		)	(481		)
Amortization of:
Prior service cost (benefit)	348			249			249			(641		)	(420		)	(422		)
Actuarial loss	6,642			13,463			7,853			116			336			355
Net benefit cost (income)	9,768			17,915			13,741			(432		)	149			243
Change in associated regulatory liabilities	—			—			—			3,704			3,302			3,188
Net benefit cost after change in regulatory liabilities	$	9,768		$	17,915		$	13,741		$	3,272		$	3,451		$	3,431

Expected Payments for Pension Benefits and Other Postretirement Welfare Benefits

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

	Pension Benefits		Other Postretirement Benefits
Fiscal 2015	$	24,295	$	753
Fiscal 2016	25,425		710
Fiscal 2017	26,692		644
Fiscal 2018	28,051		615
Fiscal 2019	29,298		604
Fiscal 2020 - 2024	164,102		2,875

Schedule of Effect of One-percentage-point Change in Assumed Health Care Cost Trend Rates

The assumed health care cost trend rates at September 30 are as follows:

	2014		2013
Health care cost trend rate assumed for next year	7.0	%	7.5	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.0	%	5.0	%
Fiscal year that the rate reaches the ultimate trend rate	2019		2019

Allocation of Pension Plan and VEBA Trust Assets

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:	2014		2013		Allocation		Range
Equity investments:
Domestic	55.6	%	57.5	%	52.5	%	40.0% - 65.0%
International	11.3	%	11.1	%	12.5	%	7.5% - 17.5%
Total	66.9	%	68.6	%	65.0	%	60.0% - 70.0%
Fixed income funds & cash equivalents	33.1	%	31.4	%	35.0	%	30.0% - 40.0%
Total	100.0	%	100.0	%	100.0	%

					Target
	Actual				Asset		Permitted
VEBA:	2014		2013		Allocation		Range
Domestic equity investments	67.9	%	65.6	%	65.0	%	60.0% - 70.0%
Fixed income funds & cash equivalents	32.1	%	34.4	%	35.0	%	30.0% - 40.0%
Total	100.0	%	100.0	%	100.0	%

Fair Value of Pension Plan and VEBA Trust Assets

The fair values of the U.S. Pension Plan and VEBA trust assets by asset class and level within the fair value hierarchy, as described in Note 2, as of September 30, 2014 and 2013 are as follows:

	Pension Plan
	Level 1		Level 2		Level 3		Total
September 30, 2014:
Domestic equity investments:
S&P 500 Index equity mutual funds	$	152,613	$	—	$	—	$	152,613
Small and midcap equity mutual funds	41,417		—		—		41,417
Smallcap common stocks	9,325		—		—		9,325
UGI Corporation Common Stock	42,502		—		—		42,502
Total domestic equity investments	245,857		—		—		245,857
International index equity mutual funds	49,935		—		—		49,935
Fixed income investments:
Bond index mutual funds	140,949		—		—		140,949
Cash equivalents	—		5,724		—		5,724
Total fixed income investments	140,949		5,724		—		146,673
Total	$	436,741	$	5,724	$	—	$	442,465
September 30, 2013:
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

	VEBA
	Level 1		Level 2		Level 3		Total
September 30, 2014:
S&P 500 Index equity mutual fund	$	8,719	$	—	$	—	$	8,719
Bond index mutual fund	3,727		—		—		3,727
Cash equivalents	—		402		—		402
Total	$	12,446	$	402	$	—	$	12,848
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