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Employee Retirement Plans (Tables)
12 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Change in Pension Benefits and Other Postretirement Benefits Obligations The following table provides a reconciliation of the PBOs of our pension plans (the U.S. Pension Plan and the UGI International pension plans), the ABOs of our other postretirement benefit plans, plan assets, and the funded status of pension and other postretirement plans as of September 30, 2020 and 2019. 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
 2020201920202019
Change in benefit obligations:    
Benefit obligations — beginning of year$750 $669 $23 $19 
Service cost11 10 — — 
Interest cost23 27 
Actuarial loss27 89 
Curtailments(2)(1)— — 
Settlements— (13)— — 
Foreign currency(3)— — 
Benefits paid(30)(28)(1)(1)
Benefit obligations — end of year$782 $750 $24 $23 
Change in plan assets:    
Fair value of plan assets — beginning of year$547 $563 $16 $15 
Actual gain on plan assets53 13 
Foreign currency(1)— — 
Employer contributions13 12 — — 
Settlements— (13)— — 
Benefits paid(29)(27)(1)— 
Fair value of plan assets — end of year$585 $547 $17 $16 
Funded status of the plans — end of year$(197)$(203)$(7)$(7)
Assets (liabilities) recorded in the balance sheet:    
Assets in excess of liabilities — included in other noncurrent assets$— $— $$
Unfunded liabilities — included in other noncurrent liabilities(197)(203)(10)(10)
Net amount recognized$(197)$(203)$(7)$(7)
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax):    
Prior service cost (benefit)$$$(1)$(1)
Net actuarial loss24 26 — — 
Total$25 $27 $(1)$(1)
Amounts recorded in regulatory assets and liabilities (pre-tax):    
Prior service cost$— $$— $— 
Net actuarial loss174 177 
Total$174 $178 $$
Actuarial Assumptions for Domestic Plans The expected rate of return on assets assumption is based on current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below).
 Pension PlanOther Postretirement Benefits
 202020192018202020192018
Weighted-average assumptions:      
Discount rate – benefit obligations2.90 %3.30 %4.40 %3.00 %3.30 %4.40 %
Discount rate – benefit cost
3.30 %4.40 %4.00 %3.30 %4.40 %4.00 %
Expected return on plan assets
7.20 %7.30 %7.40 %5.00 %5.00 %5.00 %
Rate of increase in salary levels
3.25 %3.25 %3.25 %3.25 %3.25 %3.25 %
Net Periodic Pension Expense and Other Postretirement Benefit Costs Net periodic pension cost include the following components:
 Pension Benefits
 202020192018
Service cost$11 $10 $11 
Interest cost23 27 26 
Expected return on assets(38)(36)(35)
Curtailment gain(1)— — 
Amortization of:
Prior service cost— 
Actuarial loss15 13 
Net cost$11 $$16 
Expected Payments for Pension Benefits and Other Postretirement Welfare Benefits Expected payments for pension benefits are as follows:
Pension
Benefits
Fiscal 2021$33 
Fiscal 2022$32 
Fiscal 2023$34 
Fiscal 2024$36 
Fiscal 2025$38 
Fiscal 2026 - 2030$203 
Pension Plans
The targets, target ranges and actual allocations for the U.S. Pension Plan trust assets at September 30 are as follows:
 ActualTarget Asset AllocationPermitted Range
 2020201920202019September 30, 2020
Equity investments:    
U.S. equities26.5 %54.8 %29.0 %52.5 %
24.0% - 34.0%
Non-U.S. equities25.0 %11.8 %24.5 %12.5 %
19.5% - 29.5%
Global equities (a)12.3 %— %11.5 %— %
6.5% - 16.5%
Total63.8 %66.6 %65.0 %65.0 %
60.0% - 70.0%
Fixed income funds & cash equivalents36.2 %33.4 %35.0 %35.0 %
30.0% - 40.0%
Total100.0 %100.0 %100.0 %100.0 % 
(a)    Comprises investment funds that consist of a mix of U.S. and Non-U.S. equity securities.
Fair Value of U.S. Pension Plan and VEBA Trust Assets The fair values of the U.S. Pension Plan trust assets by asset class and level within the fair value hierarchy, as described in Note 2, as of September 30, 2020 and 2019 are as follows:
 U.S. Pension Plan
Level 1Level 2Level 3Other (a)Total
September 30, 2020:    
Domestic equity investments:    
   UGI Corporation Common Stock$27 $— $— $— $27 
     Total domestic equity investments27 — — — 27 
Common collective trust funds:
   U.S. equity index investments— — — 123 123 
   Non-U.S. equity index investments— — — 141 141 
   Global equity index investments— — — 70 70 
   Bond index investments— — — 200 200 
   Cash equivalents— — — 
     Total common collective trust funds— — — 539 539 
Total$27 $— $— $539 $566 
September 30, 2019:    
Domestic equity investments:    
   S&P 500 Index equity mutual funds$176 $— $— $— $176 
   Small and midcap equity mutual funds73 — — — 73 
    UGI Corporation Common Stock41 — — — 41 
       Total domestic equity investments290 — — — 290 
International index equity mutual funds62 — — — 62 
Fixed income investments:
   Bond index mutual funds171 — — — 171 
   Cash equivalents— — — 
     Total fixed income investments171 — — 177 
Total$523 $— $— $$529 
(a)    Assets measured at NAV and therefore excluded from the fair value hierarchy.