SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

12 Months Ended

Sep. 30, 2024

Condensed Financial Information Disclosure [Abstract]

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY)

BALANCE SHEETS

(Millions of dollars)

	September 30,
	2024		2023
ASSETS
Current assets:
Cash and cash equivalents	$	4	$	7
Accounts receivable – related parties	23		11
Prepaid expenses and other current assets	2		23
Total current assets	29		41
Investments in subsidiaries	5,625		5,343
Other assets	145		143
Total assets	$	5,799	$	5,527
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt	$	—	$	38
Accounts and notes payable	15		28
Derivative instruments	1		—
Accrued liabilities	58		39
Total current liabilities	74		105
Long-term debt	1,312		969
Other noncurrent liabilities	68		67
Total liabilities	1,454		1,141
Commitments and contingencies (Note 1)
Equity:
Preferred Stock, without par value (authorized - 5,000,000; issued - 0 and 220,000, respectively)	—		167
Common Stock, without par value (authorized – 450,000,000 shares; issued – 216,124,332 and 210,906,052 shares, respectively)	1,676		1,503
Retained earnings	2,978		3,027
Accumulated other comprehensive loss	(253)		(256)
Treasury stock, at cost	(56)		(55)
Total common stockholders’ equity	4,345		4,386
Total liabilities and common stockholders’ equity	$	5,799	$	5,527

Note 1 — Commitments and Contingencies:

At September 30, 2024, UGI Corporation had agreed to indemnify the issuers of $110 of surety bonds issued on behalf of certain UGI subsidiaries. UGI Corporation is authorized to guarantee up to $475 of obligations to suppliers and customers of Energy Services and subsidiaries of which $371 of such obligations were outstanding as of September 30, 2024.

STATEMENTS OF INCOME

(Millions of dollars, except per share amounts)

	Year Ended September 30,
	2024		2023		2022
Revenues	$	—	$	—	$	—
Costs and expenses:
Operating and administrative expenses	100		95		74
Other operating income, net (a)	(86)		(83)		(63)
	14		12		11
Operating loss	(14)		(12)		(11)
Pension and other postretirement plans non-service expense	—		—		(3)
Interest expense	(61)		(52)		(35)
Loss before income taxes	(75)		(64)		(49)
Income tax benefit	(7)		(13)		—
Loss before equity in income of unconsolidated subsidiaries	(68)		(51)		(49)
Equity in income (loss) of unconsolidated subsidiaries	337		(1,451)		1,122
Net income (loss) attributable to UGI Corporation	$	269	$	(1,502)	$	1,073
Other comprehensive (loss) income	(17)		(8)		34
Equity in other comprehensive income (loss) of unconsolidated subsidiaries	20		132		(274)
Comprehensive income (loss) attributable to UGI Corporation	$	272	$	(1,378)	$	833
Earnings (loss) per common share attributable to UGI Corporation stockholders:
Basic	$	1.27	$	(7.16)	$	5.11
Diluted	$	1.25	$	(7.16)	$	4.97
Weighted - average common shares outstanding (thousands):
Basic	211,309		209,806		209,940
Diluted	215,271		209,806		215,821

(a)UGI provides certain financial and administrative services to certain of its subsidiaries. UGI bills these subsidiaries monthly for all direct expenses incurred by UGI on behalf of its subsidiaries as well as allocated shares of indirect corporate expense incurred or paid with respect to services provided by UGI. The allocation of indirect UGI corporate expenses to certain of its subsidiaries utilizes a weighted, three-component formula comprising revenues, operating expenses, and net assets employed and considers the relative percentage of such items for each subsidiary to the total of such items for all UGI operating subsidiaries for which general and administrative services are provided. Management believes that this allocation method is reasonable and equitable to its subsidiaries. These billed expenses are classified as “Other operating income, net” in the Statements of Income above.

STATEMENTS OF CASH FLOWS

(Millions of dollars)

	Year Ended September 30,
	2024		2023		2022
NET CASH PROVIDED BY OPERATING ACTIVITIES (a)	$	379	$	636	$	485
CASH FLOWS FROM INVESTING ACTIVITIES:
Return of capital distributions	—		—		175
Net investments in unconsolidated subsidiaries	(355)		(309)		(390)
Net cash used by investing activities	(355)		(309)		(215)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends on UGI Common Stock	(318)		(308)		(296)
Issuances of debt, net of issuance costs	1,078		327		597
Repayments of long-term debt	(775)		(333)		(530)
Issuances of UGI Common Stock	—		12		19
Repurchases of UGI Common Stock	—		(22)		(38)
Payments on Purchase Contracts	(12)		(16)		(16)
Net cash used by financing activities	(27)		(340)		(264)
Cash and cash equivalents (decrease) increase	$	(3)	$	(13)	$	6
Cash and cash equivalents:
End of year	$	4	$	7	$	20
Beginning of year	7		20		14
Cash and cash equivalents (decrease) increase	$	(3)	$	(13)	$	6

(a)Includes dividends received from unconsolidated subsidiaries of $420, $680 and $506 for the years ended September 30, 2024, 2023 and 2022, respectively.