Revenue from Contracts with Customers

3 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Note 4 — Revenue from Contracts with Customers

The Company recognizes revenue when control of promised goods or services is transferred to our customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. See Note 4 in the Company’s 2019 Annual Report for information on our revenues from contracts with customers.

Revenue Disaggregation

The following tables present our disaggregated revenues by reportable segment for the three months ended December 31, 2019 and 2018:



Three Months Ended December 31, 2019	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing (a)		UGI Utilities (a)		Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential	$	184.1	$	—		$	—	$	—	$	—	$	184.1	$	—
Commercial & Industrial	67.9		—			—		—		—		67.9		—
Large delivery service	41.3		—			—		—		—		41.3		—
Off-system sales and capacity releases	16.4		(14.1		)	—		—		—		30.5		—
Other	4.4		(0.6		)	—		—		—		5.0		—
Total Utility	314.1		(14.7		)	—		—		—		328.8		—
Non-Utility:
LPG:
Retail	1,094.4		—			631.2		463.2		—		—		—
Wholesale	65.8		—			22.0		43.8		—		—		—
Energy Marketing	362.9		(25.6		)	—		123.9		264.6		—		—
Midstream:
Pipeline	43.2		—			—		—		43.2		—		—
Peaking	3.9		(37.7		)	—		—		41.6		—		—
Other	1.8		—			—		—		1.8		—		—
Electricity Generation	8.8		—			—		—		8.8		—		—
Other	80.9		(0.9		)	59.2		12.3		10.3		—		—
Total Non-Utility	1,661.7		(64.2		)	712.4		643.2		370.3		—		—
Total revenues from contracts with customers	1,975.8		(78.9		)	712.4		643.2		370.3		328.8		—
Other revenues (b)	30.8		(0.8		)	18.0		8.2		2.2		0.5		2.7
Total revenues	$	2,006.6	$	(79.7	)	$	730.4	$	651.4	$	372.5	$	329.3	$	2.7



Three Months Ended December 31, 2018	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing (a)		UGI Utilities (a)		Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential	$	175.7	$	—		$	—	$	—	$	—	$	175.7	$	—
Commercial & Industrial	67.6		—			—		—		—		67.6		—
Large delivery service	39.5		—			—		—		—		39.5		—
Off-system sales and capacity releases	15.2		(22.9		)	—		—		—		38.1		—
Other (c)	0.5		(0.7		)	—		—		—		1.2		—
Total Utility	298.5		(23.6		)	—		—		—		322.1		—
Non-Utility:
LPG:
Retail	1,229.7		—			721.9		507.8		—		—		—
Wholesale	60.0		—			21.0		39.0		—		—		—
Energy Marketing	468.9		(47.5		)	—		143.1		373.3		—		—
Midstream:
Pipeline	19.4		—			—		—		19.4		—		—
Peaking	2.0		(38.7		)	—		—		40.7		—		—
Other	1.0		—			—		—		1.0		—		—
Electricity Generation	11.7		—			—		—		11.7		—		—
Other	84.0		(0.7		)	60.6		12.4		11.7		—		—
Total Non-Utility	1,876.7		(86.9		)	803.5		702.3		457.8		—		—
Total revenues from contracts with customers	2,175.2		(110.5		)	803.5		702.3		457.8		322.1		—
Other revenues (b)	25.0		(1.1		)	16.7		8.4		1.6		0.6		(1.2		)
Total revenues	$	2,200.2	$	(111.6	)	$	820.2	$	710.7	$	459.4	$	322.7	$	(1.2	)


(a)	Includes intersegment revenues principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.


(b)	Primarily represents revenues from tank rentals at AmeriGas Propane and UGI International, revenues from certain gathering assets at Midstream & Marketing, and gains and losses on commodity derivative instruments not associated with current-period transactions reflected in Corporate & Other, none of which are within the scope of ASC 606 and are accounted for in accordance with other GAAP.


(c)	UGI Utilities includes an unallocated negative surcharge revenue reduction of $(4.1) for the three months ended December 31, 2018 as a result of a PAPUC Order issued May 17, 2018, related to the TCJA.

Contract Balances

The timing of revenue recognition may differ from the timing of invoicing to customers or cash receipts. Contract assets represent our right to consideration after the performance obligations have been satisfied when such right is conditioned on something other than the passage of time. Contract assets were not material for all periods presented. Substantially all of our receivables are unconditional rights to consideration and are included in “Accounts receivable” and, in the case of UGI Utilities, “Accrued utility revenues” on the Condensed Consolidated Balance Sheets. Amounts billed are generally due within the following month.

Contract liabilities arise when payment from a customer is received before the performance obligations have been satisfied and represent the Company’s obligations to transfer goods or services to a customer for which we have received consideration. The balances of contract liabilities were $93.1, $114.1 and $94.0 at December 31, 2019, September 30, 2019 and December 31, 2018, respectively, and are included in “Other current liabilities” and “Other noncurrent liabilities” on the Condensed Consolidated Balance Sheets. Revenue recognized for the three months ended December 31, 2019 and 2018, from the amount included in contract liabilities at September 30, 2019 and 2018, was $61.0 and $58.1, respectively.

Remaining Performance Obligations

The Company has elected to use practical expedients as allowed in ASC 606 to exclude disclosures related to the aggregate amount of the transaction price allocated to certain performance obligations that are unsatisfied as of the end of the reporting period because these contracts have an initial expected term of one year or less, or we have a right to bill the customer in an amount that corresponds directly with the value of services provided to the customer to date. Certain contracts with customers at Midstream & Marketing and UGI Utilities contain minimum future performance obligations through 2047 and 2053, respectively. At December 31, 2019, Midstream & Marketing and UGI Utilities expect to record approximately $2.0 billion and $0.2 billion of revenues, respectively, related to the minimum future performance obligations over the remaining terms of the related contracts.