Three Months Ended March 31, 2013:



														Midstream & Marketing					International Propane
	Total			Elims.				AmeriGas Propane			Gas Utility			Energy Services			Electric Generation		Antargaz			Flaga & Other			Corporate & Other (b)
Revenues	$	2,537.1		$	(61.1	)	(c)	$	1,176.3		$	368.6		$	304.0		$	17.1	$	452.6		$	230.9		$	48.7
Cost of sales	$	1,500.6		$	(58.8	)	(c)	$	612.4		$	196.7		$	247.0		$	10.6	$	285.8		$	177.4		$	29.5
Segment profit:
Operating income (loss)	$	486.2		$	(0.9	)		$	257.4		$	105.7		$	43.5		$	0.5	$	67.8		$	13.8		$	(1.6	)
Income from equity investees	0.1			—				—			—			—			—		0.1			—			—
Interest expense	(60.1		)	—				(41.8		)	(9.3		)	(0.8		)	—		(6.3		)	(1.3		)	(0.6		)
Income (loss) before income taxes	$	426.2		$	(0.9	)		$	215.6		$	96.4		$	42.7		$	0.5	$	61.6		$	12.5		$	(2.2	)
Partnership EBITDA (a)								$	303.6
Noncontrolling interests’ net income	$	154.3		$	—			$	154.0		$	—		$	—		$	—	$	0.3		$	—		$	—
Depreciation and amortization	$	87.3		$	—			$	48.6		$	12.7		$	1.9		$	2.4	$	14.2		$	5.8		$	1.7
Capital expenditures	$	93.6		$	(1.0	)		$	27.9		$	24.4		$	19.3		$	4.2	$	13.2		$	4.1		$	1.5
Total assets (at period end)	$	10,236.3		$	(110.8	)		$	4,682.8		$	2,205.5		$	450.4		$	261.7	$	1,847.7		$	551.3		$	347.7
Bank loans (at period end)	$	177.7		$	—			$	115.9		$	—		$	47.0		$	—	$	—		$	14.8		$	—
Goodwill (at period end)	$	2,813.8		$	—			$	1,919.2		$	182.1		$	2.8		$	—	$	610.0		$	92.7		$	7.0

Three Months Ended March 31, 2012:



														Midstream & Marketing						International Propane
	Total			Elims.				AmeriGas Propane			Gas Utility			Energy Services			Electric Generation			Antargaz			Flaga & Other			Corporate & Other (b)
Revenues	$	2,427.5		$	(44.8	)	(c)	$	1,155.6		$	319.5		$	261.4		$	8.8		$	445.3		$	236.4		$	45.3
Cost of sales	$	1,526.6		$	(43.6	)	(c)	$	670.0		$	177.5		$	216.4		$	6.4		$	288.6		$	185.2		$	26.1
Segment profit:
Operating income (loss)	$	380.8		$	—			$	195.0		$	85.0		$	33.1		$	(2.5	)	$	60.2		$	10.0		$	—
Income from equity investees	—			—				—			—			—			—			—			—			—
Loss on extinguishments of debt	(13.4		)	—				(13.4		)	—			—			—			—			—			—
Interest expense	(65.3		)	—				(45.1		)	(10.1		)	(1.3		)	—			(6.9		)	(1.2		)	(0.7		)
Income (loss) before income taxes	$	302.1		$	—			$	136.5		$	74.9		$	31.8		$	(2.5	)	$	53.3		$	8.8		$	(0.7	)
Partnership EBITDA (a)								$	224.5
Noncontrolling interests’ net income	$	93.6		$	—			$	93.2		$	—		$	—		$	—		$	0.4		$	—		$	—
Depreciation and amortization	$	82.8		$	—			$	44.8		$	12.2		$	0.8		$	2.2		$	15.0		$	6.4		$	1.4
Capital expenditures	$	65.3		$	—			$	23.5		$	25.7		$	4.3		$	1.6		$	4.9		$	3.9		$	1.4
Total assets (at period end)	$	10,129.4		$	(84.4	)		$	4,823.8		$	2,038.5		$	387.7		$	255.4		$	1,843.3		$	548.4		$	316.7
Bank loans (at period end)	$	190.2		$	—			$	50.9		$	—		$	112.0		$	—		$	—		$	27.3		$	—
Goodwill (at period end)	$	2,795.2		$	—			$	1,881.3		$	182.1		$	2.8		$	—		$	638.5		$	83.5		$	7.0


(a)	The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:



Three Months Ended March 31,	2013			2012
Partnership EBITDA	$	303.6		224.5
Depreciation and amortization	(48.6		)	(44.8		)
Loss on extinguishments of debt	—			13.4
Noncontrolling interests (i)	2.4			1.9
Operating income	$	257.4		$	195.0


(i)	Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.

(b)

Corporate & Other results principally comprise Electric Utility, UGI Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVAC/R”), net expenses of UGI’s captive general liability insurance company and UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC/R, and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation.


(c)	Principally represents the elimination of intersegment transactions among Midstream & Marketing, Gas Utility and AmeriGas Propane.

Six Months Ended March 31, 2013:



														Midstream & Marketing					International Propane
	Total			Elims.				AmeriGas Propane			Gas Utility			Energy Services			Electric Generation		Antargaz			Flaga & Other			Corporate & Other (b)
Revenues	$	4,560.3		$	(119.6	)	(c)	$	2,052.9		$	616.9		$	531.8		$	32.0	$	871.9		$	476.5		$	97.9
Cost of sales	$	2,719.4		$	(116.1	)	(c)	$	1,064.5		$	320.3		$	434.9		$	20.2	$	565.7		$	372.3		$	57.6
Segment profit:
Operating income (loss)	$	782.3		$	(0.9	)		$	397.3		$	175.5		$	70.8		$	0.7	$	115.3		$	24.1		$	(0.5	)
Income from equity investees	0.1			—				—			—			—			—		0.1			—			—
Interest expense	(120.4		)	—				(83.0		)	(18.9		)	(1.8		)	—		(12.8		)	(2.6		)	(1.3		)
Income (loss) before income taxes	$	662.0		$	(0.9	)		$	314.3		$	156.6		$	69.0		$	0.7	$	102.6		$	21.5		$	(1.8	)
Partnership EBITDA (a)								$	491.4
Noncontrolling interests’ net income	$	222.4		$	—			$	222.0		$	—		$	—		$	—	$	0.4		$	—		$	—
Depreciation and amortization	$	174.4		$	—			$	98.0		$	25.3		$	3.5		$	4.9	$	28.3		$	11.3		$	3.1
Capital expenditures	$	184.9		$	(1.0	)		$	54.4		$	52.9		$	32.8		$	11.0	$	25.4		$	6.3		$	3.1
Total assets (at period end)	$	10,236.3		$	(110.8	)		$	4,682.8		$	2,205.5		$	450.4		$	261.7	$	1,847.7		$	551.3		$	347.7
Bank loans (at period end)	$	177.7		$	—			$	115.9		$	—		$	47.0		$	—	$	—		$	14.8		$	—
Goodwill (at period end)	$	2,813.8		$	—			$	1,919.2		$	182.1		$	2.8		$	—	$	610.0		$	92.7		$	7.0

Six Months Ended March 31, 2012:



														Midstream & Marketing						International Propane
	Total			Elims.				AmeriGas Propane			Gas Utility			Energy Services			Electric Generation			Antargaz			Flaga & Other			Corporate & Other (b)
Revenues	$	4,116.3		$	(100.8	)	(c)	$	1,839.4		$	574.5		$	495.5		$	16.2		$	746.9		$	453.1		$	91.5
Cost of sales	$	2,628.4		$	(98.6	)	(c)	$	1,113.8		$	319.2		$	413.1		$	11.2		$	464.3		$	353.3		$	52.1
Segment profit:
Operating income (loss)	$	569.1		$	—			$	255.1		$	146.2		$	60.5		$	(6.0	)	$	97.5		$	14.4		$	1.4
Loss from equity investees	(0.1		)	—				—			—			—			—			(0.1		)	—			—
Loss on extinguishments of debt	(13.4		)	—				(13.4		)	—			—			—			—			—			—
Interest expense	(101.3		)	—				(61.6		)	(20.2		)	(2.4		)	—			(13.4		)	(2.2		)	(1.5		)
Income (loss) before income taxes	$	454.3		$	—			$	180.1		$	126.0		$	58.1		$	(6.0	)	$	84.0		$	12.2		$	(0.1	)
Partnership EBITDA (a)								$	308.2
Noncontrolling interests’ net income	$	116.7		$	—			$	116.2		$	—		$	—		$	—		$	0.5		$	—		$	—
Depreciation and amortization	$	143.1		$	—			$	69.0		$	24.3		$	1.5		$	4.3		$	29.1		$	11.9		$	3.0
Capital expenditures	$	154.0		$	—			$	45.1		$	47.5		$	22.9		$	11.1		$	16.0		$	8.7		$	2.7
Total assets (at period end)	$	10,129.4		$	(84.4	)		$	4,823.8		$	2,038.5		$	387.7		$	255.4		$	1,843.3		$	548.4		$	316.7
Bank loans (at period end)	$	190.2		$	—			$	50.9		$	—		$	112.0		$	—		$	—		$	27.3		$	—
Goodwill (at period end)	$	2,795.2		$	—			$	1,881.3		$	182.1		$	2.8		$	—		$	638.5		$	83.5		$	7.0


(a)	The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:



Six Months Ended March 31,	2013			2012
Partnership EBITDA	$	491.4		$	308.2
Depreciation and amortization	(98.0		)	(69.0		)
Loss on extinguishments of debt	—			13.4
Noncontrolling interests (i)	3.9			2.5
Operating income	$	397.3		$	255.1


(i)	Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.

(b)

Corporate & Other results principally comprise Electric Utility, UGI Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (”HVAC/R”), net expenses of UGI’s captive general liability insurance company and UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC/R, and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation.


(c)	Principally represents the elimination of intersegment transactions among Midstream & Marketing, Gas Utility and AmeriGas Propane.