Employee Retirement Plans (Tables)

12 Months Ended

Sep. 30, 2013

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

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

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

	Pension Benefits						Other Postretirement Benefits
	2013			2012			2013			2012
Change in benefit obligations:
Benefit obligations — beginning of year	$	573.4		$	462.9		$	24.7		$	20.5
Service cost	11.3			9.3			0.6			0.4
Interest cost	23.8			25.1			0.9			1.1
Actuarial (gain) loss	(72.7		)	82.4			(3.6		)	3.2
Plan amendments	1.0			0.1			(1.8		)	1.0
Acquisitions	—			14.6			—			—
Foreign currency	1.5			(0.7		)	0.2			(0.1		)
Benefits paid	(21.8		)	(20.3		)	(1.3		)	(1.4		)
Benefit obligations — end of year	$	516.5		$	573.4		$	19.7		$	24.7
Change in plan assets:
Fair value of plan assets — beginning of year	$	369.9		$	290.0		$	11.2		$	9.8
Actual gain on plan assets	42.2			51.2			1.1			1.7
Foreign currency	0.8			(0.5		)	—			—
Employer contributions	24.2			32.2			0.7			1.1
Acquisitions	—			17.3			—			—
Benefits paid	(21.8		)	(20.3		)	(1.3		)	(1.4		)
Fair value of plan assets — end of year	$	415.3		$	369.9		$	11.7		$	11.2
Funded status of the plans — end of year	$	(101.2	)	$	(203.5	)	$	(8.0	)	$	(13.5	)
Assets (liabilities) recorded in the balance sheet:
Assets in excess of liabilities — included in other noncurrent assets	$	—		$	—		$	3.2		$	—
Unfunded liabilities — included in other current liabilities	(17.9		)	(15.8		)	(0.4		)	(0.6		)
Unfunded liabilities — included in other noncurrent liabilities	(83.3		)	(187.7		)	(10.8		)	(12.9		)
Net amount recognized	$	(101.2	)	$	(203.5	)	$	(8.0	)	$	(13.5	)
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax):
Prior service credit	$	(0.1	)	$	(0.1	)	$	(0.1	)	$	(0.1	)
Net actuarial loss (gain)	16.7			25.3			(0.4		)	0.4
Total	$	16.6		$	25.2		$	(0.5	)	$	0.3
Amounts recorded in regulatory assets and liabilities (pre-tax):
Prior service cost (credit)	$	2.2		$	1.5		$	(4.3	)	$	(2.8	)
Net actuarial loss	91.3			184.5			3.6			5.8
Total	$	93.5		$	186.0		$	(0.7	)	$	3.0

Actuarial assumptions for our domestic plans

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

	Pension Plan						Other Postretirement Benefits
	2013		2012		2011 (a)		2013		2012		2011
Weighted-average assumptions:
Discount rate - benefit obligations	5.20	%	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 (“U.S. Pension Plans Merger”) to form the U.S. Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the U.S. Pension Plans Merger) and 5.5% for the remainder of Fiscal 2011.

Component of net periodic pension expense and other postretirement benefit costs

Net periodic pension expense and other postretirement benefit cost includes the following components:

	Pension Benefits									Other Postretirement Benefits
	2013			2012			2011			2013			2012			2011
Service cost	$	11.3		$	9.3		$	8.8		$	0.6		$	0.4		$	0.4
Interest cost	23.8			25.1			24.1			0.9			1.1			1.1
Expected return on assets	(27.8		)	(26.2		)	(25.8		)	(0.5		)	(0.5		)	(0.5		)
Curtailment gain	—			—			—			—			—			(3.2		)
Amortization of:
Prior service cost (benefit)	0.3			0.2			0.2			(0.3		)	(0.3		)	(0.7		)
Actuarial loss	15.1			8.4			7.5			0.4			0.3			0.4
Net benefit cost (income)	22.7			16.8			14.8			1.1			1.0			(2.5		)
Change in associated regulatory liabilities	—			—			—			3.3			3.2			3.1
Net benefit cost after change in regulatory liabilities	$	22.7		$	16.8		$	14.8		$	4.4		$	4.2		$	0.6

Expected payments for pension benefits and other postretirement welfare benefits

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

	Pension Benefits		Other Postretirement Benefits
Fiscal 2014	$	24.6	$	1.4
Fiscal 2015	24.4		1.2
Fiscal 2016	26.1		1.2
Fiscal 2017	28.8		1.1
Fiscal 2018	30.4		1.1
Fiscal 2019 - 2023	164.3		5.3

Pension Plans

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

U.S. Pension Plan

	Actual				Target Asset Allocation		Permitted Range
	2013		2012
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	%

VEBA

	Actual				Target Asset Allocation		Permitted Range
	2013		2012
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 U.S. Pension Plan and VEBA trust assets at September 30, 2013 and 2012, by asset class are as follows:

	U.S. Pension Plan
	Quoted Prices 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	$	141.8	$	—	$	—	$	141.8
Small and midcap equity mutual funds	54.5		—		—		54.5
UGI Corporation Common Stock	32.6		—		—		32.6
Total domestic equity investments	228.9		—		—		228.9
International index equity mutual funds	44.4		—		—		44.4
Fixed income investments:
Bond index mutual funds	120.9		—		—		120.9
Cash equivalents	—		4.0		—		4.0
Total fixed income investments	120.9		4.0		—		124.9
Total	$	394.2	$	4.0	$	—	$	398.2
September 30, 2012:
Domestic equity investments:
S&P 500 Index equity mutual funds	$	118.9	$	—	$	—	$	118.9
Small and midcap equity mutual funds	42.9		—		—		42.9
UGI Corporation Common Stock	26.4		—		—		26.4
Total domestic equity investments	188.2		—		—		188.2
International index equity mutual funds	36.9		—		—		36.9
Fixed income investments:
Bond index mutual funds	123.3		—		—		123.3
Cash equivalents	—		3.1		—		3.1
Total fixed income investments	123.3		3.1		—		126.4
Total	$	348.4	$	3.1	$	—	$	351.5

	VEBA
	Quoted Prices 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	$	7.7	$	—	$	—	$	7.7
Bond index mutual fund	3.8		—		—		3.8
Cash equivalents	—		0.2		—		0.2
Total	$	11.5	$	0.2	$	—	$	11.7
September 30, 2012:
S&P 500 Index equity mutual fund	$	7.7	$	—	$	—	$	7.7
Bond index mutual fund	3.4		—		—		3.4
Cash equivalents	—		0.1		—		0.1
Total	$	11.1	$	0.1	$	—	$	11.2