SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

12 Months Ended

Sep. 30, 2020

Condensed Financial Information Disclosure [Abstract]

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

BALANCE SHEETS

(Millions of dollars)

	September 30,
	2020		2019
ASSETS
Current assets:
Cash and cash equivalents	$	67	$	54
Accounts receivable – related parties	11		5
Prepaid expenses and other current assets	15		23
Total current assets	93		82
Property, plant and equipment, net	2		3
Investments in subsidiaries	4,898		4,585
Other assets	87		77
Total assets	$	5,080	$	4,747
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt	$	30	$	—
Accounts and notes payable	15		15
Accrued liabilities	29		9
Total current liabilities	74		24
Long-term debt	817		846
Other noncurrent liabilities	61		60
Total liabilities	952		930
Commitments and contingencies (Note 1)
Common stockholders’ equity:
Common Stock, without par value (authorized – 450,000,000 shares; issued – 209,514,044 and 209,304,129 shares, respectively)	1,416		1,397
Retained earnings	2,908		2,653
Accumulated other comprehensive loss	(147)		(217)
Treasury stock, at cost	(49)		(16)
Total common stockholders’ equity	4,128		3,817
Total liabilities and common stockholders’ equity	$	5,080	$	4,747

Note 1 — Commitments and Contingencies:

At September 30, 2020, UGI Corporation had agreed to indemnify the issuers of $80 of surety bonds issued on behalf of certain UGI subsidiaries. UGI Corporation is authorized to guarantee up to $475 of obligations to suppliers and customers of Energy Services and subsidiaries of which $396 of such obligations were outstanding as of September 30, 2020.

Scheduled principal repayments of long-term debt during the next five fiscal years include $30 in Fiscal 2021, $300 in Fiscal 2022, $38 in Fiscal 2023 and $482 in Fiscal 2024.

STATEMENTS OF INCOME

(Millions of dollars, except per share amounts)

	Year Ended September 30,
	2020		2019		2018
Revenues	$	—	$	—	$	—
Costs and expenses:
Operating and administrative expenses	56		50		63
Other operating income, net (a)	(54)		(50)		(52)
	2		—		11
Operating loss	(2)		—		(11)
Pension and other postretirement plans non-service expense	—		(1)		(1)
Interest expense	(32)		(6)		—
Loss before income taxes	(34)		(7)		(12)
Income tax expense (benefit)	17		(3)		6
Loss before equity in income of unconsolidated subsidiaries	(51)		(4)		(18)
Equity in income of unconsolidated subsidiaries	583		260		737
Net income attributable to UGI Corporation	$	532	$	256	$	719
Other comprehensive (loss) income	(12)		(3)		3
Equity in other comprehensive income (loss) of unconsolidated subsidiaries	82		(97)		(20)
Comprehensive income attributable to UGI Corporation	$	602	$	156	$	702
Earnings per common share attributable to UGI Corporation stockholders:
Basic	$	2.55	$	1.44	$	4.13
Diluted	$	2.54	$	1.41	$	4.06
Weighted - average common shares outstanding (thousands):
Basic	208,928		178,417		173,908
Diluted	209,869		181,111		176,905

(a)UGI provides certain financial and administrative services to certain of its subsidiaries. UGI bills these subsidiaries monthly for all direct expenses incurred by UGI on behalf of its subsidiaries as well as allocated shares of indirect corporate expense incurred or paid with respect to services provided by UGI. The allocation of indirect UGI corporate expenses to certain of its subsidiaries utilizes a weighted, three-component formula comprising revenues, operating expenses, and net assets employed and considers the relative percentage of such items for each subsidiary to the total of such items for all UGI operating subsidiaries for which general and administrative services are provided. Management believes that this allocation method is reasonable and equitable to its subsidiaries. These billed expenses are classified as “Other operating income, net” in the Statements of Income above.

STATEMENTS OF CASH FLOWS

(Millions of dollars)

	Year Ended September 30,
	2020		2019		2018
NET CASH PROVIDED BY OPERATING ACTIVITIES (a)	$	322	$	170	$	208
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for property, plant and equipment	—		—		(2)
Net investments in unconsolidated subsidiaries	—		(768)		(7)
Net cash used by investing activities	—		(768)		(9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends on Common Stock	(273)		(200)		(177)
Issuances of debt, net of issuance costs	60		846		—
Repayments of long-term debt	(60)		—		—
Issuances of Common Stock	2		17		35
Repurchases of UGI Common Stock	(38)		(17)		(60)
Other	—		(7)		—
Net cash (used) provided by financing activities	(309)		639		(202)
Cash and cash equivalents increase (decrease)	$	13	$	41	$	(3)
Cash and cash equivalents:
End of year	$	67	$	54	$	13
Beginning of year	54		13		16
Cash and cash equivalents increase (decrease)	$	13	$	41	$	(3)

(a)Includes dividends received from unconsolidated subsidiaries of $352, $163 and $191 for the years ended September 30, 2020, 2019 and 2018, respectively.