Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Sep. 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 September 30, 2023 and 2022 and the final settlement dates of the Company's open derivative contracts as of September 30, 2023, but excluding those derivatives that qualified for the NPNS exception:

			Notional Amounts (in millions)
			September 30,
Type	Units	Settlements Extending Through	2023		2022
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contracts	Dekatherms	September 2024	38		19
Non-utility Operations
LPG swaps	Gallons	February 2026	727		874
Natural gas futures, forward, basis swap, options and pipeline contracts (a)	Dekatherms	December 2027	338		363
Electricity forward and futures contracts	Kilowatt hours	December 2026	1,260		2,446
Interest Rate Risk:
Interest rate swaps	Euro	March 2026	€	300	€	300
Interest rate swaps	USD	September 2026	$	1,270	$	1,358
Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contracts	USD	September 2026	$	425	$	465
Net investment hedge forward foreign exchange contracts	Euro	December 2026	€	256	€	411

(a)Amounts at September 30, 2023 and 2022 include contracts associated with certain UGI International energy marketing business transactions (see Note 5).

Schedule of Derivative Assets, Liabilities and the Effects of Offsetting

The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting, as of September 30:

	2023		2022
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts	$	14	$	57
Interest rate contracts	28		66
	42		123
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	6		31
Derivatives not designated as hedging instruments:
Commodity contracts (a)	226		2,202
Foreign currency contracts	24		62
	250		2,264
Total derivative assets – gross	298		2,418
Gross amounts offset in the balance sheet	(124)		(295)
Cash collateral received	(40)		(398)
Total derivative assets – net	$	134	$	1,725
Derivative liabilities:
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	$	(8)	$	(26)
Derivatives not designated as hedging instruments:
Commodity contracts (a)	(266)		(487)
Foreign currency contracts	(2)		(2)
	(268)		(489)
Total derivative liabilities – gross	(276)		(515)
Gross amounts offset in the balance sheet	124		295
Cash collateral pledged	53		7
Total derivative liabilities – net	$	(99)	$	(213)

(a)Includes certain derivative contracts associated with UGI International energy marketing business transactions (see Note 5) that are classified as held for sale on the Consolidated Balance Sheets at September 30, 2023 and 2022. At September 30, 2023 and 2022, there were $10 and $295 of derivative assets, respectively, included in Held for sale assets and $12 and $19 of derivative liabilities, respectively, included in Held for sale liabilities, on the Consolidated Balance Sheets.

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

The following tables provide information on the effects of derivative instruments on the Consolidated Statements of Income and changes in AOCI for Fiscal 2023, Fiscal 2022 and Fiscal 2021:

	Gain (Loss) Recognized in AOCI						Gain (Loss) Reclassified from AOCI into Income						Location of Gain (Loss) Reclassified from AOCI into Income
	2023		2022		2021		2023		2022		2021
Cash Flow Hedges:
Interest rate contracts	$	25	$	91	$	4	$	40	$	(7)	$	(25)	Interest expense
Net Investment Hedges:
Foreign currency contracts	$	(21)	$	69	$	4

	Gain (Loss) Recognized in Income						Location of Gain (Loss) Recognized in Income
	2023		2022		2021
Derivatives Not Designated as Hedging Instruments:
Commodity contracts	$	11	$	(9)	$	(17)	Revenues
Commodity contracts	(1,771)		1,181		1,545		Cost of sales
Commodity contracts	2		1		5		Other operating income, net
Foreign currency contracts	(23)		63		9		Other non-operating (expense) income, net
Total	$	(1,781)	$	1,236	$	1,542