Debt (Tables)

12 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Loss on Extinguishment of Debt

In connection with the early repayment of AmeriGas Partners’ 7.00% Senior Notes, during Fiscal 2017, 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
Early redemption premiums	$	51.3
Write-off of unamortized debt issuance costs	8.4
Loss on extinguishments of debt	$	59.7

Schedule of Long-term Debt Instruments

Long-term debt comprises the following at September 30:

	2019			2018
AmeriGas Propane:
AmeriGas Partners Senior Notes:
5.50% due May 2025	$	700.0		$	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			525.0
Heritage Operating, L.P. Senior Secured Notes (a)	3.8			7.5
Other	9.5			14.6
Unamortized debt issuance costs	(23.7		)	(27.5		)
Total AmeriGas Propane	2,564.6			2,569.6
UGI International:
3.25% Senior Notes due November 2025	381.5			—
UGI International, LLC variable-rate term loan due October 2023 (b)	327.0			—
UGI France Senior Facilities term loan (c)	—			627.0
Flaga variable-rate term loan (d)	—			53.2
Flaga U.S. dollar variable-rate term loan (e)	—			49.9
Other	19.3			20.9
Unamortized debt issuance costs	(8.3		)	(2.5		)
Total UGI International	719.5			748.5
Midstream & Marketing:
Energy Services variable-rate term loan due through August 2026 (f)	698.3			—
Other	0.3			0.4
Unamortized discount and debt issuance costs	(12.0		)	—
Total Energy Services	686.6			0.4
UGI Utilities:
Senior Notes:
4.12%, due September 2046	200.0			200.0
4.98%, due March 2044	175.0			175.0
4.55%, due February 2049	150.0			—
4.12%, due October 2046	100.0			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
Variable-rate term loan due through October 2022 (g)	114.1			120.3
Other	4.7			6.8
Unamortized debt issuance costs	(4.6		)	(4.1		)
Total UGI Utilities	979.2			838.0

	2019			2018
UGI Corporation:
UGI Corporation revolving credit facility maturing August 2024 (h)	300.0			—
UGI Corporation variable-rate term loan due August 2022 (i)	300.0			—
UGI Corporation variable-rate term loan due through August 2024 (i)	250.0			—
Unamortized debt issuance costs	(4.0		)	—
Total UGI Corporation	846.0			—
Other	8.1			8.8
Total long-term debt	5,804.0			4,165.3
Less: current maturities	(24.1		)	(18.8		)
Total long-term debt due after one year	$	5,779.9		$	4,146.5

(a) At September 30, 2019 and 2018, the effective interest rate on the Heritage Operating, L.P. Senior Secured Notes was 6.75%. These notes are collateralized by AmeriGas OLP’s receivables, contracts, equipment, inventory, general intangibles and cash.

(b) At September 30, 2019, the effective interest rate on the term loan was approximately 2.04%.

(c) At September 30, 2018, the effective interest rate on the term loan was approximately 1.93%.

(d) The effective interest rate on this term loan at September 30, 2018, was 1.93%.

(e) At September 30, 2018, the effective interest rate on this term loan was 0.55%.

(f) The effective interest rate on this term loan at September 30, 2019, was 5.79%. This term loan is collateralized by substantially all of the assets of Energy Services, subject to certain exceptions and carveouts including, but not limited to, accounts receivable and certain real property.

(g) At September 30, 2019 and September 30, 2018, the effective interest rate on this term loan was 3.05% and 2.76%, respectively.

(h) The effective interest rate on credit facility borrowings at September 30, 2019, was 4.55%.

(i) At September 30, 2019, the effective interest rates on the $300 variable-rate term loan and the $250 variable-rate term loan were 4.30% and 4.55%, respectively.

Schedule of Maturities of Long-term Debt

Scheduled principal repayments of long-term debt for each of the next five fiscal years ending September 30 are as follows:

	2020		2021		2022		2023		2024
AmeriGas Propane	$	7.8	$	3.6	$	1.6	$	0.3	$	675.0
UGI International	0.1		0.1		19.0		0.1		327.0
Midstream & Marketing	7.1		7.1		7.1		7.0		7.0
UGI Utilities	8.4		8.0		6.9		95.5		—
UGI Corporation	—		—		300.0		37.5		512.5
Other	0.6		0.9		0.9		5.7		—
Total	$	24.0	$	19.7	$	335.5	$	146.1	$	1,521.5

Schedule of Short-term Debt

Information about the Company’s principal credit agreements (excluding the Energy Services Receivables Facility, which is discussed below) as of September 30, 2019 and 2018, is presented in the following table. Borrowings outstanding under these agreements (other than the UGI Corporation Credit Agreement) 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, 2019
AmeriGas OLP	December 2022	$	600.0	$	328.0	$	62.7	$	209.3	4.50	%
UGI International, LLC (a)	October 2023	€	300.0	€	192.7	€	—	€	107.3	3.64	%
Energy Services (b)	March 2021	$	200.0	$	45.0	$	—	$	155.0	6.25	%
UGI Utilities	June 2024	$	350.0	$	166.0	$	—	$	184.0	3.00	%
UGI Corporation (c)	August 2024	$	300.0	$	300.0	$	—	$	—	4.55	%
September 30, 2018
AmeriGas OLP	December 2022	$	600.0	$	232.0	$	63.5	$	304.5	4.58	%
UGI International, LLC	April 2020	€	300.0	€	—	€	—	€	300.0	N.A.
UGI France	April 2020	€	60.0	€	—	€	—	€	60.0	N.A.
Flaga	October 2020	€	55.0	€	—	€	0.5	€	54.5	N.A.
Energy Services	March 2021	$	240.0	$	—	$	—	$	240.0	N.A.
UGI Utilities	March 2020	$	450.0	$	189.5	$	2.0	$	258.5	3.03	%

N.A. - Not applicable

(a) The 2018 UGI International Credit Facilities Agreement permits UGI International, LLC to borrow in euros or dollars. At September 30, 2019, the amount borrowed was USD-denominated borrowings of $210.0, equal to €192.7.

(b) The Energy Services Credit Agreement includes a $50 sublimit for letters of credit and can be used for general corporate purposes of Energy Services and its subsidiaries. Borrowings bear interest at either (i) the Alternate Base Rate plus a margin or (ii) 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 ranges from 0.75% to 2.25%. The Energy Services Credit Agreement is guaranteed by certain subsidiaries of Energy Services. This credit agreement is collateralized by substantially all of the assets of Energy Services, subject to certain exceptions and carveouts including, but not limited to, accounts receivables and certain real property. On August 13, 2019, the Energy Services Credit Agreement was amended to decrease its borrowing capacity from $240 to $200.

(c)

Borrowings outstanding are classified as “Long-term debt” on the 2019 Consolidated Balance Sheet. See “Significant Financing Activities - UGI Corporation” above for further information.

Schedule of Receivables Facility

Information regarding the amounts of trade receivables transferred to ESFC and the amounts sold to the bank during Fiscal 2019, Fiscal 2018 and Fiscal 2017, as well as the balance of ESFC trade receivables at September 30, 2019, 2018 and 2017 follows:

	2019		2018		2017
Trade receivables transferred to ESFC during the year	$	1,372.7	$	1,279.5	$	1,017.3
ESFC trade receivables sold to the bank during the year	$	179.0	$	193.0	$	243.0
ESFC trade receivables - end of year (a)	$	54.5	$	65.0	$	44.8

(a) At September 30, 2019 and 2018, the amounts of ESFC trade receivables sold to the bank were $46.4 and $2.0, respectively, and are reflected as “Short-term borrowings” on the Consolidated Balance Sheets.