Dispositions

12 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Dispositions

Note 5 — Dispositions

Global LPG Business Transactions

As part of the Company’s ongoing global LPG business portfolio optimization efforts, the Company is strategically divesting operations in non-core markets to focus resources where it can achieve superior operational results and deliver enhanced customer value.

UGI International. In October 2025, UGI International, through a wholly-owned subsidiary, entered into a definitive agreement to divest its LPG distribution business in Austria. The Company expects to recognize a gain upon closing, which is expected in the first quarter of Fiscal 2026, subject to customary closing conditions and working capital adjustments.

In June 2025, UGI International, through a wholly-owned subsidiary, completed the sale of UniverGas, its LPG distribution business in Italy. In conjunction with the sale, during Fiscal 2025, the Company recorded a pre-tax loss of $50, which is reflected in "(Gain) loss on disposals of businesses" on the Consolidated Statements of Income and included in the UGI International reportable segment.

In June 2025, UGI International, through a wholly-owned subsidiary, entered into a definitive agreement to divest its cylinder business in the United Kingdom. Accordingly, the assets and liabilities associated with this business, primarily comprised of long-lived assets, qualify as held for sale and have been reflected in “Other current assets” and “Other current liabilities,” respectively, on the Consolidated Balance Sheet at September 30, 2025. During Fiscal 2025, the Company recognized a non-cash, pre-tax impairment charge of $3 to record such assets at estimated fair value less costs to sell, which is reflected in "(Gain) loss on disposals of businesses" on the Consolidated Statement of Income and included in the UGI International reportable segment. The sale was completed in October 2025.

AmeriGas Propane. In September 2025, AmeriGas OLP completed the sale of its propane business located in Hawaii. The transaction included the sale of approximately 750,000 gallons of propane storage facilities and multiple delivery fleet assets. In conjunction with the sale, during Fiscal 2025, the Company recorded a pre-tax gain of $17, which is reflected in "(Gain) loss on disposals of businesses" on the Consolidated Statements of Income and included in the AmeriGas Propane reportable segment. The transaction is subject to customary post-closing working capital adjustments.

The Company has received or expects to receive total net cash proceeds of approximately $220 from the aforementioned divestitures.

UGID

In June 2024, Energy Services entered into a Stock Purchase Agreement to sell all of its ownership interest in UGID. UGID owns and operates the Hunlock Creek Energy Center located in Wilkes-Barre, PA, a 169-megawatt natural gas-fueled electricity generating station. The sale of UGID was completed in September 2024, for net cash proceeds of $43. In conjunction with the sale, during Fiscal 2024, the Company recorded a pre-tax loss of $66, which amount is included in “(Gain) loss on disposals of businesses” on the Consolidated Statement of Income and included in the Midstream & Marketing reportable segment.

UGI International Energy Marketing Transactions

As of the end of the first quarter of Fiscal 2024, pursuant to its previously announced decision, the Company had exited substantially all of its European energy marketing business which primarily marketed natural gas and electricity to customers through third-party distribution systems in France, the Netherlands, Belgium and the United Kingdom.

France. In October 2023, UGI International, through a wholly-owned subsidiary, sold substantially all of its energy marketing business located in France. In conjunction with the sale, during Fiscal 2024, the Company recorded a pre-tax loss of $29, which amount is reflected in “(Gain) loss on disposals of businesses” on the Consolidated Statements of Income.

Netherlands. In September 2023, a substantial number of DVEP’s customers agreed to modify their energy marketing contracts whereby the Company would continue to provide the delivery of electricity and natural gas at fixed prices through December 31, 2023, with the Company’s obligations to provide future services terminated effective January 1, 2024. As consideration for the early termination of such contracts, the Company has agreed to make cash payments to the customers equal to the fair values of specific commodity derivative instruments associated with periods after December 31, 2023. The early termination agreements with DVEP customers are considered contract modifications and the cash consideration paid to these customers has been reflected as a reduction in revenues, on a pro-rata basis, over the remaining performance period of such agreements through December 31, 2023. During Fiscal 2024, the Company reduced its revenues from these customers by $42, which represents the pro-rated performance obligation from October 1, 2023 through December 31, 2023.

Additionally, in December 2023, DVEP completed a sale of a substantial portion of its power purchase agreements for a total consideration to the buyer of $5 and recorded a loss of $5, which is reflected in “Other operating expense (income), net” on the Consolidated Statements of Income.

During Fiscal 2023, the Company recorded a $19 pre-tax impairment charge to reduce the carrying values of certain assets associated with its energy marketing business in the Netherlands, comprising property, plant and equipment and intangible assets. The impairment charge is reflected in “Operating and administrative expenses” on the Consolidated Statements of Income and included in the UGI International reportable segment.

Belgium. In September 2023, UGI International, through a wholly-owned subsidiary, sold its energy marketing business located in Belgium. In conjunction with the sale, during Fiscal 2023, the Company recorded a pre-tax loss of $6, which amount is reflected in “(Gain) loss on disposals of businesses” on the Consolidated Statements of Income.

United Kingdom. In October 2022, UGI International, through a wholly-owned subsidiary, sold its energy marketing business located in the U.K. In conjunction with the sale, during Fiscal 2023, the Company recorded a pre-tax loss of $215 which amount is reflected in “(Gain) loss on disposals of businesses” on the Consolidated Statements of Income.