Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts Related to Open Derivative Contracts

The following table summarizes by derivative type the gross notional amounts related to open derivative contracts at June 30, 2023, September 30, 2022 and June 30, 2022, and the final settlement dates of the Company's open derivative contracts as of June 30, 2023, but excluding those derivatives that qualified for the NPNS exception:

			Notional Amounts (in millions)
Type	Units	Settlements Extending Through	June 30, 2023		September 30, 2022		June 30, 2022
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contracts	Dekatherms	February 2024	24		19		13
Non-utility Operations
LPG swaps	Gallons	September 2025	734		874		669
Natural gas futures, forward, basis swap, options and pipeline contracts (a)	Dekatherms	October 2027	357		363		353
Electricity forward and futures contracts	Kilowatt hours	December 2026	1,586		2,446		2,621
Interest Rate Risk:
Interest rate swaps	Euro	March 2026	€	300	€	300	€	300
Interest rate swaps	USD	September 2026	$	1,274	$	1,358	$	1,411
Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contracts	USD	September 2026	$	434	$	465	$	435
Net investment hedge forward foreign exchange contracts	Euro	December 2026	€	256	€	411	€	411

(a)Amounts at June 30, 2023 and September 30, 2022 include contracts associated with certain UGI International energy marketing businesses classified as held for sale (see Note 5).

Schedule of Derivative Assets, Liabilities and Effects of Offsetting

The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting:

	June 30, 2023		September 30, 2022		June 30, 2022
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts	$	6	$	57	$	28
Interest rate contracts	30		66		44
	36		123		72
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	11		31		30
Derivatives not designated as hedging instruments:
Commodity contracts (a)	246		2,202		1,935
Foreign currency contracts	12		62		31
	258		2,264		1,966
Total derivative assets — gross	305		2,418		2,068
Gross amounts offset in the balance sheet	(134)		(295)		(226)
Cash collateral received	(36)		(398)		(659)
Total derivative assets — net	$	135	$	1,725	$	1,183
Derivative liabilities:
Derivatives designated as hedging instruments:
Interest rate contracts	(4)		—		—
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	(18)		(26)		(23)
Derivatives not designated as hedging instruments:
Commodity contracts (a)	(448)		(487)		(338)
Foreign currency contracts	(4)		(2)		(2)
	(452)		(489)		(340)
Total derivative liabilities — gross	(474)		(515)		(363)
Gross amounts offset in the balance sheet	134		295		226
Cash collateral pledged	137		7		13
Total derivative liabilities — net	$	(203)	$	(213)	$	(124)

(a)Amounts at June 30, 2023 and September 30, 2022 include contracts associated with certain UGI International energy marketing businesses classified as held for sale (see Note 5).

Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI

The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI:

Three Months Ended June 30,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2023		2022		2023		2022
Interest rate contracts	$	32	$	11	$	14	$	(4)	Interest expense
Net Investment Hedges:
Foreign currency contracts	$	(5)	$	23
	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2023		2022		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	1	$	(6)	Revenues
Commodity contracts	(224)		466		Cost of sales
Commodity contracts	(10)		6		Other operating income, net
Foreign currency contracts	(2)		17		Other non-operating income (expense), net
Total	$	(235)	$	483
Nine Months Ended June 30,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2023		2022		2023		2022
Interest rate contracts	$	15	$	59	$	28	$	(17)	Interest expense
Net Investment Hedges:
Foreign currency contracts	$	(28)	$	34
	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2023		2022		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	11	$	(5)	Revenues
Commodity contracts	(1,893)		792		Cost of sales
Commodity contracts	(5)		6		Other operating income, net
Foreign currency contracts	(36)		32		Other non-operating income (expense), net
Total	$	(1,923)	$	825