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Segment Information
 6 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information
Note 13 — Segment Information

Our operations comprise four reportable segments generally based upon products or services sold, geographic location and regulatory environment: (1) AmeriGas Propane; (2) UGI International; (3) Midstream & Marketing; and (4) UGI Utilities.

Corporate & Other includes certain items that are excluded from our CODM’s assessment of segment performance (see below for further details on these items). Corporate & Other also includes the net expenses of UGI’s captive general liability insurance company, UGI’s corporate headquarters facility and UGI’s unallocated corporate and general expenses as well as interest expense on UGI debt that is not allocated. Corporate & Other assets principally comprise cash and cash equivalents of UGI and its captive insurance company, and UGI corporate headquarters’ assets. The accounting policies of our reportable segments are the same as those described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s 2020 Annual Report.
Three Months Ended March 31, 2021TotalEliminationsAmeriGas
Propane		UGI InternationalMidstream & MarketingUGI
Utilities		Corporate
& Other (a)
Revenues from external customers$2,581 $— $940 $834 $392 $417 $(2)
Intersegment revenues$— $(118)(b)$— $— $92 $25 $1 
Cost of sales$1,274 $(117)(b)$431 $491 $343 $202 $(76)
Operating income$671 $— $239 $147 $90 $142 $53 
Income from equity investees10 — — — 10 (c)— — 
Other non-operating income, net18 — — 2 — — 16 
Earnings before interest expense and income taxes699 — 239 149 100 142 69 
Interest expense(78)— (40)(6)(11)(14)(7)
Income before income taxes$621 $—  $199 $143 $89 $128 $62 
Depreciation and amortization$126 $— $44 $34 $19 $29 $— 
Capital expenditures (including the effects of accruals)$124 $— $30 $18 $12 $64 $— 
Three Months Ended March 31, 2020TotalEliminationsAmeriGas
Propane		UGI InternationalMidstream & MarketingUGI
Utilities		Corporate
& Other (a)
Revenues from external customers$2,229 $— $802 $704 $344 $377 $2 
Intersegment revenues$— $(94)(b)$— $— $78 $16 $— 
Cost of sales$1,248 $(94)(b)$325 $402 $299 $185 $131 
Operating income (loss)$362 $— $206 $117 $71 $116 $(148)
Income from equity investees8 — — — 8 (c)— — 
Other non-operating income, net12 — — 9 — — 3 
Earnings (loss) before interest expense and income taxes382 — 206 126 79 116 (145)
Interest expense(83)— (41)(8)(11)(13)(10)
Income (loss) before income taxes$299 $—  $165 $118 $68 $103 $(155)
Depreciation and amortization$121 $— $45 $31 $19 $26 $— 
Capital expenditures (including the effects of accruals)$158 $— $35 $22 $23 $78 $— 
Six Months Ended March 31, 2021TotalEliminationsAmeriGas
Propane		UGI InternationalMidstream & MarketingUGI
Utilities		Corporate
& Other (a)
Revenues from external customers$4,513 $— $1,606 $1,534 $671 $702 $— 
Intersegment revenues$— $(196)(b)$— $— $154 $40 $2 
Cost of sales$2,107 $(194)(b)$703 $874 $580 $334 $(190)
Operating income$1,173 $—  $380 $282 $142 $219 $150 
Income from equity investees17 —  — — 17 (c)— — 
Other non-operating (expense) income, net(1)— — 3 — 1 (5)
Earnings before interest expense and income taxes1,189 — 380 285 159 220 145 
Interest expense(156)—  (80)(13)(21)(28)(14)
Income before income taxes$1,033 $—  $300 $272 $138 $192 $131 
Depreciation and amortization$250 $—  $87 $67 $37 $58 $1 
Capital expenditures (including the effects of accruals)$276 $— $57 $47 $29 $143 $— 
As of March 31, 2021
Total assets$14,945 $(227)$4,515 $3,576 $2,893 $3,982 $206 
Six Months Ended March 31, 2020TotalEliminationsAmeriGas
Propane		UGI InternationalMidstream & MarketingUGI
Utilities		Corporate
& Other (a)
Revenues from external customers$4,236 $— $1,532 $1,355 $653 $691 $5 
Intersegment revenues$— $(174)(b)$— $— $142 $31 $1 
Cost of sales$2,256 $(173)(b)$614 $770 $563 $336 $146 
Operating income (loss)$739 $—  $371 $213 $126 $208 $(179)
Income from equity investees15 —  — — 15 (c)— — 
Other non-operating income (expense), net— — — 13 — — (13)
Earnings (loss) before interest expense and income taxes754 — 371 226 141 208 (192)
Interest expense(167)—  (83)(15)(23)(27)(19)
Income (loss) before income taxes$587 $—  $288 $211 $118 $181 $(211)
Depreciation and amortization$240 $—  $89 $62 $37 $52 $— 
Capital expenditures (including the effects of accruals)$311 $— $74 $42 $46 $149 $— 
As of March 31, 2020
Total assets$14,136 $(370)$4,509 $3,227 $2,824 $3,730 $216 
(a)Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM in assessing our reportable segments’ performance or allocating resources. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate:
Three Months Ended March 31, 2021Location on Income StatementAmeriGas PropaneUGI InternationalMidstream & Marketing
Net losses on commodity derivative instruments not associated with current-period transactionsRevenues$— $— $(2)
Net gains on commodity derivative instruments not associated with current-period transactionsCost of sales $27 $48 $1 
Unrealized gains on foreign currency derivative instrumentsOther non-operating income (expense), net$— $15 $— 
Business transformation expensesOperating and administrative expenses$(14)$(3)$— 

Three Months Ended March 31, 2020Location on Income StatementAmeriGas PropaneUGI InternationalMidstream & Marketing
Net gains on commodity derivative instruments not associated with current-period transactionsRevenues$— $— $3 
Net (losses) gains on commodity derivative instruments not associated with current-period transactionsCost of sales $(21)$(118)$6 
Unrealized gains on foreign currency derivative instrumentsOther non-operating income (expense), net$— $2 $— 
Acquisition and integration expenses associated with the CMG AcquisitionOperating and administrative expenses$— $— $(1)
Business transformation expensesOperating and administrative expenses$(13)$(6)$— 
Six Months Ended March 31, 2021Location on Income StatementAmeriGas PropaneUGI InternationalMidstream & Marketing
Net gains (losses) on commodity derivative instruments not associated with current-period transactionsCost of sales $64 $154 $(28)
Unrealized losses on foreign currency derivative instrumentsOther non-operating income (expense), net$— $(5)$— 
Business transformation expensesOperating and administrative expenses$(26)$(6)$— 
    
Six Months Ended March 31, 2020Location on Income StatementAmeriGas PropaneUGI InternationalMidstream & Marketing
Net gains on commodity derivative instruments not associated with current-period transactionsRevenues$— $— $5 
Net losses on commodity derivative instruments not associated with current-period transactionsCost of sales $(12)$(132)$(3)
Unrealized losses on foreign currency derivative instrumentsOther non-operating income (expense), net$— $(13)$— 
Acquisition and integration expenses associated with the CMG AcquisitionOperating and administrative expenses$— $— $(2)
Business transformation expensesOperating and administrative expenses$(24)$(12)$— 

(b)Represents the elimination of intersegment transactions principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.
(c)Includes AFUDC associated with PennEast and equity income primarily from Pennant and Pine Run.