Debt (Tables)

12 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Schedule of Loss on Extinguishment of Debt

In connection with the early repayments of AmeriGas’ Senior Notes, during Fiscal 2017 and 2016, the Partnership recognized pre-tax losses which are reflected in “Loss on extinguishments of debt” on the Consolidated Statements of Income and comprise the following:

	2017		2016
Early redemption premiums	$	51.3	$	39.6
Write-off of unamortized debt issuance costs	8.4		9.3
Loss on extinguishments of debt	$	59.7	$	48.9

Schedule of Long-term Debt Instruments

Long-term debt comprises the following at September 30:

	2017			2016
AmeriGas Propane:
AmeriGas Partners Senior Notes:
5.50% due May 2025	$	700.0		$	—
5.875% due August 2026	675.0			675.0
5.625% due May 2024	675.0			675.0
5.75% due May 2027	525.0			—
7.00%, due May 2022	—			980.8
HOLP Senior Secured Notes, including unamortized premium of $0.4 and $0.7, respectively (a)	11.3			15.2
Other	17.3			14.2
Unamortized debt issuance costs	(31.3		)	(26.6		)
Total AmeriGas Propane	2,572.3			2,333.6
UGI International:
France SAS Senior Facilities term loan, due through April 2020 (b)	708.9			674.4
Flaga variable-rate term loan, due October 2020 (c)	54.1			51.4
Flaga U.S. dollar variable-rate term loan, due September 2018 (d)	59.1			59.1
Other	21.3			1.4
Unamortized debt issuance costs	(4.6		)	(6.7		)
Total UGI International	838.8			779.6
UGI Utilities:
Senior Notes:
4.12%, due September 2046	200.0			200.0
4.98%, due March 2044	175.0			175.0
4.12%, due October 2046	100.0			—
6.21%, due September 2036	100.0			100.0
2.95%, due June 2026	100.0			100.0
Medium-Term Notes:
6.13%, due October 2034	20.0			20.0
6.50%, due August 2033	20.0			20.0
5.67%, due January 2018	20.0			20.0
7.25%, due November 2017	20.0			20.0
6.17%, due June 2017	—			20.0
Unamortized debt issuance costs	(3.9		)	(3.5		)
Total UGI Utilities	751.1			671.5
Other	9.9			10.8
Total long-term debt	4,172.1			3,795.5
Less: current maturities	(177.5		)	(29.5		)
Total long-term debt due after one year	$	3,994.6		$	3,766.0

(a) At September 30, 2017 and 2016, the effective interest rate on the HOLP Senior Secured Notes was 6.75%. These notes are collateralized by AmeriGas OLP’s receivables, contracts, equipment, inventory, general intangibles and cash.

(b) Borrowings bear interest at rates per annum comprising the aggregate of the applicable margin and the associated euribor rate, which euribor rate has a floor of 0.0%. The margin on term loan borrowings (which ranges from 1.60% to 2.70%) is dependent upon the ratio of France SAS’ consolidated total net debt to EBITDA, each as defined in the 2015 Senior Facilities Agreement. At September 30, 2017 and 2016, such margin was 1.90%. France SAS has entered into pay-fixed, receive-variable interest rate swaps through April 30, 2019, to fix the underlying euribor rate on term loan borrowings at 0.18%. At September 30, 2017 and 2016, the effective interest rate on the term loan was approximately 2.10%. Principal amounts outstanding under the term loan are due as follows: €60 due April 2018; €60 due April 2019; and €480 due April 2020.

(c) Borrowings bear interest at three-month euribor rates, plus a margin and other fees. The margin and other fees range from 1.20% to 2.60% and are based upon certain consolidated equity, return on assets and debt to EBITDA ratios, as defined, as well as fees defined by the local jurisdiction. Flaga has entered into pay-fixed, receive-variable interest rate swaps that generally fix the underlying market rate at 0.23%, effective October 2016. The effective interest rate on this term loan at September 30, 2017 and 2016, was 1.80% and 2.11%, respectively.

(d) Borrowings bear interest at a one-month LIBOR rate plus a margin of 1.125%. Flaga has effectively fixed the LIBOR component of the interest rate, and has effectively fixed the U.S. dollar value of the interest and principal payments by entering into a cross-currency swap arrangement with a bank. At September 30, 2017 and 2016, the effective interest rate on this term loan was 0.87%.

Schedule of Maturities of Long-term Debt

Scheduled principal repayments of long-term debt due in fiscal years 2018 to 2022 follows:

	2018		2019		2020		2021		2022
AmeriGas Propane	$	8.6	$	8.2	$	7.5	$	3.2	$	1.2
UGI International	130.3		71.5		567.1		54.1		20.4
UGI Utilities	40.0		—		—		—		—
Other	0.7		0.8		0.8		0.9		0.9
Total	$	179.6	$	80.5	$	575.4	$	58.2	$	22.5

Schedule of Short-term Debt

Information about the Company’s principal credit agreements (excluding Energy Services, LLC’s Receivables Facility which is discussed below) as of September 30, 2017 and 2016, is presented in the following table. Borrowings outstanding under these agreements 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, 2017
AmeriGas OLP (a)	June 2019	$	525.0	$	140.0	$	67.2	$	317.8	3.74	%
France SAS (b)	April 2020	€	60.0	—		—		€	60.0	N.A.
Flaga (c)	October 2020	€	55.0	—		€	6.5	€	48.5	N.A.
Energy Services, LLC (d)	March 2021	$	240.0	—		—		$	240.0	N.A.
UGI Utilities (e)	March 2020	$	300.0	$	170.0	$	2.0	$	128.0	2.11	%
September 30, 2016
AmeriGas OLP (a)	June 2019	$	525.0	$	153.2	$	67.2	$	304.6	2.79	%
France SAS (b)	April 2020	€	60.0	—		—		€	60.0	N.A.
Flaga (c)	October 2020	€	55.0	—		€	9.6	€	45.4	N.A.
Energy Services, LLC (d)	March 2021	$	240.0	$	—	—		$	240.0	N.A.
UGI Utilities (e)	March 2020	$	300.0	$	112.5	$	2.0	$	185.5	1.42	%

(a) The AmeriGas OLP Credit Agreement includes a $125 sublimit for letters of credit and permits AmeriGas OLP to borrow at prevailing interest rates, including the base rate, defined as the higher of the Federal Funds rate plus 0.50% or the agent bank’s prime rate, or at a one-week, or one-, two-, three-, or six-month Eurodollar Rate, as defined, plus a margin. The applicable margin on base rate borrowings ranges from 0.50% to 1.50%; the applicable margin on Eurodollar Rate borrowings ranges from 1.50% to 2.50%; and the facility fee ranges from 0.30% to 0.45%. The aforementioned margins and facility fees are dependent upon AmeriGas Partners’ ratio of debt to EBITDA, as defined.

(b) Borrowings under the 2015 Senior Facilities Agreement revolving credit facility bear interest at market rates (one-, two-, three-, or six-month euribor) plus a margin. The margin on credit facility borrowings ranges from 1.45% to 2.55% based upon France SAS’s ratio of consolidated total net debt to EBITDA, as defined.

(c) The Flaga Credit Facility Agreement includes a €25 multi-currency revolving credit facility, a €5 overdraft facility and a €25 guarantee facility. Revolving credit facility borrowings bear interest at market rates (generally one, three or six-month euribor rates) plus margins. The margins on revolving facility borrowings, which range from 1.45% to 3.65%, are based upon the actual currency borrowed and certain consolidated equity, return on assets and debt to EBITDA ratios, each as defined. Facility fees on the unused amount of the revolving credit facility are 30% of the lowest applicable margin. Guarantees outstanding reduce the available capacity on the €25 guarantee facility.

(d) The Energy Services, LLC Credit Agreement (“Energy Services Credit Agreement”) includes a $50 sublimit for letters of credit and can be used for general corporate purposes of Energy Services, LLC and its subsidiaries. Energy Services, LLC may not pay a dividend unless, after giving effect to such dividend payment, the ratio of Consolidated Total Indebtedness to EBITDA, each as defined, does not exceed 3.00 to 1.00. Borrowings bear interest at either (i) the Alternate Base Rate plus a margin or (ii) a rate derived from LIBOR (“Adjusted LIBOR”) plus a margin. The Alternate Base Rate, as defined, is the highest of (a) the prime rate, (b) the federal funds rate plus 0.50%, and (c) Adjusted LIBOR plus 1.00%. The margin on such borrowings is currently 2.25%. The Energy Services Credit Agreement is guaranteed by certain subsidiaries of Energy Services, LLC.

(e) The UGI Utilities Credit Agreement includes a $100 sublimit for letters of credit. Borrowings bear interest at prevailing market interest rates, including LIBOR and the banks’ prime rate, plus a margin. The margin on such borrowings ranges from 0.0% to 1.75% and is based upon the credit ratings of certain indebtedness of UGI Utilities.

Schedule of Receivables Facility

Information regarding the amounts of trade receivables transferred to ESFC and the amounts sold to the bank during Fiscal 2017, Fiscal 2016 and Fiscal 2015, as well as the balance of ESFC trade receivables at September 30, 2017, 2016 and 2015 follows:

	2017		2016		2015
Trade receivables transferred to ESFC during the year	$	1,017.3	$	756.4	$	1,037.8
ESFC trade receivables sold to the bank during the year	243.0		204.0		306.5
ESFC trade receivables - end of year (a)	44.8		35.7		44.1

(a) At September 30, 2017 and 2016, the amounts of ESFC trade receivables sold to the bank were $39.0 and $25.5, respectively, and are reflected as “Short-term borrowings” on the Consolidated Balance Sheets.