Segment Information (Tables)

12 Months Ended

Sep. 30, 2020

Schedule of Segment Reporting Information


	Total		Elim- inations			AmeriGas Propane		UGI International			Midstream & Marketing			UGI Utilities		Corporate & Other (a)
2020
Revenues from external customers	$	6,559	$	—		$	2,381	$	2,127		$	1,065		$	983	$	3
Intersegment revenues	$	—	$	(232)	(b)	$	—	$	—		$	182		$	47	$	3
Cost of sales	$	3,149	$	(229)	(b)	$	960	$	1,191		$	892		$	448	$	(113)
Operating income (loss)	$	982	$	—		$	373	$	241	(c)	$	140		$	229	$	(1)
Income from equity investees	27		—			—		—			27		(d)	—		—

Other non-operating (expense) income, net	(20)		—			—		18			1			—		(39)
Earnings (losses) before interest expense and income taxes	989		—			373		259			168			229		(40)
Interest expense	(322)		—			(164)		(31)			(42)			(54)		(31)
Income tax (expense) benefit	(135)		—			(53)		(55)			(34)			(39)		46

Net income (loss) attributable to UGI	$	532	$	—		$	156	$	173		$	92		$	136	$	(25)
Depreciation and amortization	$	484	$	—		$	178	$	125		$	75		$	105	$	1
Total assets	$	13,985	$	(282)		$	4,327	$	3,123		$	2,775		$	3,809	$	233
Short-term borrowings	$	347	$	—		$	186	$	1		$	19		$	141	$	—
Capital expenditures (including the effects of accruals)	$	665	$	—		$	135	$	89		$	93		$	348	$	—
Investments in equity investees	$	200	$	—		$	—	$	10		$	190		$	—	$	—


2019
Revenues from external customers	$	7,320	$	—		$	2,682	$	2,372		$	1,281		$	981	$	4
Intersegment revenues	$	—	$	(306)	(b)	$	—	$	—		$	235		$	68	$	3
Cost of sales	$	4,323	$	(301)	(b)	$	1,191	$	1,416		$	1,241		$	481	$	295
Operating income (loss)	$	617	$	—		$	404	$	229		$	105		$	224	$	(345)
Income from equity investees	9		—			—		—			9		(d)	—		—
Loss on extinguishments of debt	(6)		—			—		—			—			—		(6)
Other non-operating income (expense), net	39		(1)			—		5			—			2		33

Earnings (losses) before interest expense and income taxes	659		(1)			404		234			114			226		(318)
Interest expense	(258)		—			(167)		(25)			(9)			(50)		(7)
Income tax (expense) benefit	(93)		—			(26)		(64)			(27)			(43)		67
Noncontrolling interests’ net (income) loss	(52)		—			(143)		—			—			—		91
Net income (loss) attributable to UGI	$	256	$	(1)		$	68	$	145		$	78		$	133	$	(167)


	Total		Elim- inations			AmeriGas Propane		UGI International		Midstream & Marketing			UGI Utilities		Corporate & Other (a)
Depreciation and amortization	$	448	$	—		$	179	$	124	$	51		$	93	$	1
Total assets	$	13,347	$	(353)		$	4,095	$	2,975	$	2,745		$	3,560	$	325
Short-term borrowings	$	796	$	—		$	328	$	211	$	91		$	166	$	—
Capital expenditures (including the effects of accruals)	$	707	$	—		$	107	$	106	$	138		$	355	$	1
Investments in equity investees	$	190	$	—		$	—	$	12	$	178		$	—	$	—


2018
Revenues from external customers	$	7,651	$	—		$	2,823	$	2,684	$	1,149		$	998	$	(3)
Intersegment revenues	$	—	$	(371)	(b)	$	—	$	—	$	273		$	94	$	4
Cost of sales	$	4,075	$	(367)	(b)	$	1,315	$	1,620	$	1,091		$	523	$	(107)
Operating income (loss)	$	1,065	$	1		$	422	$	248	$	175		$	240	$	(21)
Income (loss) from equity investees	4		—			—		(1)		5		(d)	—		—

Other non-operating income (expense), net	16		(1)			—		(7)		(1)			(2)		27
Earnings before interest expense and income taxes	1,085		—			422		240		179			238		6
Interest expense	(230)		—			(163)		(21)		(2)			(43)		(1)
Income tax (expense) benefit (e)	(33)		(1)			(31)		(69)		(50)			(54)		172
Noncontrolling interests’ net (income) loss	(103)		—			(152)		3		—			—		46
Net income (loss) attributable to UGI	$	719	$	(1)		$	76	$	153	$	127		$	141	$	223
Depreciation and amortization	$	455	$	—		$	186	$	141	$	43		$	85	$	—
Total assets	$	11,981	$	(125)		$	3,934	$	3,279	$	1,329		$	3,266	$	298
Short-term borrowings	$	425	$	—		$	232	$	1	$	2		$	190	$	—
Capital expenditures (including the effects of accruals)	$	597	$	—		$	101	$	111	$	43		$	339	$	3
Investments in equity investees	$	88	$	—		$	—	$	13	$	75		$	—	$	—

(a)Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM in assessing our reportable segments’ performance or allocating resources. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate, for Fiscal 2020, Fiscal 2019 and Fiscal 2018:


	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing
2020
Net gains on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	—	$	3
Net gains on commodity derivative instruments not associated with current-period transactions	Cost of Sales	$	72	$	—	$	42
Unrealized losses on foreign currency derivative instruments	Other non-operating (expense) income, net	$	—	$	(36)	$	—


Acquisition and integration expenses associated with the CMG Acquisition	Operating and administrative expenses	$	—	$	—	$	(2)
LPG business transformation expenses	Operating and administrative expenses	$	(44)	$	(18)	$	—
Loss on disposals of Conemaugh and HVAC	Loss on disposals of Conemaugh and HVAC	$	—	$	—	$	(54)

2019
Net gains on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	—	$	4
Net losses on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	(117)	$	(143)	$	(35)
Unrealized gains on foreign currency derivative instruments	Other non-operating (expense) income, net	$	—	$	32	$	—
Loss on extinguishments of debt	Loss on extinguishment of debt	$	—	$	(6)	$	—
AmeriGas Merger expenses	Operating and administrative expenses	$	(6)	$	—	$	—
Acquisition and integration expenses associated with the CMG Acquisition	Operating and administrative expenses	$	—	$	—	$	(16)
LPG business transformation expenses	Operating and administrative expenses	$	(15)	$	(9)	$	—

2018
Net gains on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	—	$	(4)
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	Cost of Sales	$	13	$	93	$	2
Unrealized gains on foreign currency derivative instruments	Other non-operating (expense) income, net	$	—	$	29	$	—
Integration expenses associated with Finagaz	Operating and administrative expenses	$	—	$	(31)	$	—
Impairment of Partnership tradenames and trademarks	Impairment of Partnership tradenames and trademarks	$	(75)	$	—	$	—

(b)Represents the elimination of intersegment transactions principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.

(c)Beginning October 1, 2019, UGI International is allocated a portion of indirect corporate expenses. Prior to October 1, 2019, these expenses were billed to its parent company, which is included in Corporate & Other.

(d)Fiscal 2020 and Fiscal 2019 also includes income from Pennant subsequent to the CMG Acquisition (see Note 5). Includes AFUDC associated with PennEast (see Note 2).

(e)Fiscal 2018 results include impacts from the TCJA in the U.S. See Notes 7 and 9 for additional information. For Fiscal 2018, the remeasurement impacts from the TCJA and, for UGI International, the December 2017 French Finance Bills, were allocated from each of AmeriGas Propane, UGI International, Midstream & Marketing and UGI Utilities to Corporate & Other in amounts of $113, $4, $70 and $8, respectively.