Segment Information

12 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Segment Information

Note 21 — Segment Information

We have organized our business units into six reportable segments generally based upon products sold, geographic location (domestic or international) and regulatory environment. Our reportable segments are: (1) AmeriGas Propane; (2) an international LPG segment comprising Antargaz; (3) an international LPG segment comprising Flaga and our other international propane businesses other than Antargaz (“Other”); (4) Gas Utility; (5) Electric Utility; and (6) Midstream & Marketing. We refer to both international segments collectively as “International Propane.”

AmeriGas Propane derives its revenues principally from the sale of propane and related equipment and supplies to retail customers in all 50 states. Our International Propane segments’ revenues are derived principally from the distribution of LPG to retail customers in France and northern, central and eastern Europe including Austria and Denmark. Gas Utility’s revenues are derived principally from the sale and distribution of natural gas to customers in eastern, northeastern and central Pennsylvania. Electric Utility derives its revenues principally from the distribution of electricity in two northeastern Pennsylvania counties. Midstream & Marketing revenues are derived from the sale of natural gas and, to a lesser extent, LPG, electricity and fuel oil to customers located primarily in the Mid-Atlantic region of the United States.

The accounting policies of our reportable segments are the same as those described in Note 2. We evaluate AmeriGas Propane’s performance principally based upon the Partnership’s earnings before interest expense, income taxes, depreciation and amortization (“Partnership EBITDA”). Although we use Partnership EBITDA to evaluate AmeriGas Propane’s profitability, it should not be considered as an alternative to net income (as an indicator of operating performance) or as an alternative to cash flow (as a measure of liquidity or ability to service debt obligations) and is not a measure of performance or financial condition under accounting principles generally accepted in the United States of America. Our definition of Partnership EBITDA may be different from that used by other companies. We evaluate the performance of our International Propane, Gas Utility, Electric Utility and Midstream & Marketing segments principally based upon their income before income taxes.

No single customer represents more than ten percent of our consolidated revenues. In addition, all of our reportable segments’ revenues, other than those of our International Propane segments, are derived from sources within the United States, and all of our reportable segments’ long-lived assets, other than those of our International Propane segments, are located in the United States.

							Reportable Segments
																			International Propane
				Elim-			AmeriGas						Electric			Midstream &						Flaga &			Corporate &
	Total			inations			Propane			Gas Utility			Utility			Marketing			Antargaz			Other (b)			Other (c)
2011
Revenues	$	6,091.3		$	(219.8)	(d)	$	2,538.0		$	1,026.4		$	109.1		$	1,059.7		$	1,050.6		$	438.1		$	89.2
Cost of sales	$	4,010.9		$	(215.3)	(d)	$	1,605.3		$	610.6		$	67.9		$	920.0		$	649.8		$	321.0		$	51.6
Operating income (loss)	$	616.0		$	—		$	242.9		$	199.6		$	11.4		$	82.9		$	89.2		$	(3.1	)	$	(6.9	)
Loss from equity investees		(0.9	)		—			—			—			—			—			(0.9	)		—			—
Loss on extinguishments of debt		(38.1	)		—			(38.1	)		—			—			—			—			—			—
Interest expense		(138.0	)		—			(63.5	)		(40.4	)		(2.4	)		(2.7	)		(25.5	)		(2.7	)		(0.8	)
Income (loss) before income taxes	$	439.0		$	—		$	141.3		$	159.2		$	9.0		$	80.2		$	62.8		$	(5.8	)	$	(7.7	)
Net income (loss) attributable to UGI	$	232.9		$	—		$	39.9		$	99.3		$	5.7		$	52.5		$	44.2		$	(3.2	)	$	(5.5	)
Depreciation and amortization	$	227.9		$	—		$	94.7		$	48.4		$	4.2		$	8.0		$	52.1		$	18.5		$	2.0
Noncontrolling interests’ net income	$	75.3		$	—		$	75.0		$	—		$	—		$	—		$	0.3		$	—		$	—
Partnership EBITDA (a)							$	297.1
Total assets	$	6,663.3		$	(93.3	)	$	1,800.4		$	2,028.7		$	140.6		$	580.7		$	1,636.6		$	428.8		$	140.8
Bank loans	$	138.7		$	—		$	95.5		$	—		$	—		$	24.3		$	—		$	18.9		$	—
Capital expenditures	$	355.6		$	—		$	77.2		$	91.3		$	7.5		$	112.8		$	48.9		$	16.5		$	1.4
Investments in equity investees	$	0.3		$	—		$	—		$	—		$	—		$	—		$	—		$	0.3		$	—
Goodwill	$	1,562.2		$	—		$	696.3		$	182.1		$	—		$	2.8		$	591.8		$	82.2		$	7.0
2010
Revenues	$	5,591.4		$	(186.0)	(d)	$	2,320.3		$	1,047.5		$	120.2		$	1,145.9		$	887.1		$	172.4		$	84.0
Cost of sales	$	3,584.0		$	(179.2)	(d)	$	1,395.1		$	653.4		$	77.1		$	1,010.7		$	465.9		$	116.2		$	44.8
Operating income (loss)	$	659.2		$	—		$	235.8		$	175.3		$	13.7		$	120.0		$	115.1		$	1.9		$	(2.6	)
Loss from equity investees		(2.1	)		—			—			—			—			—			(2.0	)		(0.1	)		—
Interest expense		(133.8	)		—			(65.1	)		(40.5	)		(1.8	)		(0.2	)		(22.4	)		(3.0	)		(0.8	)
Income (loss) before income taxes	$	523.3		$	—		$	170.7		$	134.8		$	11.9		$	119.8		$	90.7		$	(1.2	)	$	(3.4	)
Net income (loss) attributable to UGI	$	261.0		$	—		$	47.3		$	83.1		$	6.8		$	68.2		$	60.0		$	(1.2	)	$	(3.2	)
Depreciation and amortization	$	210.2		$	—		$	87.4		$	49.5		$	4.0		$	7.7		$	48.9		$	11.5		$	1.2
Noncontrolling interests’ net income	$	94.7		$	—		$	91.1		$	—		$	—		$	3.3		$	0.3		$	—		$	—
Partnership EBITDA (a)							$	321.0
Total assets	$	6,374.3		$	(81.1	)	$	1,690.9		$	1,996.3		$	143.3		$	450.8		$	1,678.3		$	320.2		$	175.6
Bank loans	$	200.4		$	—		$	91.0		$	17.0		$	—		$	—		$	68.2		$	24.2		$	—
Capital expenditures	$	352.9		$	—		$	83.2		$	73.5		$	8.1		$	116.4		$	51.4		$	7.6		$	12.7
Investments in equity investees	$	0.4		$	—		$	—		$	—		$	—		$	—		$	—		$	0.4		$	—
Goodwill	$	1,562.7		$	—		$	683.1		$	180.1		$	—		$	2.8		$	602.7		$	87.0		$	7.0
2009
Revenues	$	5,737.8		$	(172.5)	(d)	$	2,260.1		$	1,241.0		$	138.5		$	1,224.7		$	837.7		$	117.6		$	90.7
Cost of sales	$	3,670.6		$	(167.7)	(d)	$	1,316.5		$	853.2		$	91.6		$	1,098.5		$	362.4		$	67.1		$	49.0
Operating income (loss)	$	685.3		$	—		$	300.5		$	153.5		$	15.4		$	64.8		$	142.8		$	8.6		$	(0.3	)
Loss from equity investees		(3.1	)		—			—			—			—			—			(2.9	)		(0.2	)		—
Interest expense		(141.1	)		—			(70.3	)		(42.2	)		(1.7	)		—			(24.0	)		(2.6	)		(0.3	)
Income (loss) before income taxes	$	541.1		$	—		$	230.2		$	111.3		$	13.7		$	64.8		$	115.9		$	5.8		$	(0.6	)
Net income attributable to UGI	$	258.5		$	—		$	65.0		$	70.3		$	8.0		$	38.1		$	74.0		$	4.3		$	(1.2	)
Depreciation and amortization	$	200.9		$	—		$	83.9		$	47.2		$	3.9		$	8.5		$	47.7		$	8.8		$	0.9
Noncontrolling interests’ net income (loss)	$	123.5		$	0.2		$	123.6		$	—		$	—		$	—		$	(0.4	)	$	0.1		$	—
Partnership EBITDA (a)							$	381.4
Total assets	$	6,042.6		$	(115.5	)	$	1,647.7		$	1,917.1		$	113.2		$	344.1		$	1,705.6		$	260.1		$	170.3
Bank loans	$	163.1		$	—		$	—		$	145.9		$	8.1		$	—		$	—		$	9.1		$	—
Capital expenditures	$	301.7		$	—		$	78.7		$	73.8		$	5.3		$	66.2		$	70.5		$	5.8		$	1.4
Investments in equity investees	$	3.0		$	—		$	—		$	—		$	—		$	—		$	—		$	3.0		$	—
Goodwill	$	1,582.3		$	(4.1	)	$	670.1		$	180.1		$	—		$	11.8		$	646.9		$	70.4		$	7.1

(a) The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:

Year ended September 30,	2011			2010			2009
Partnership EBITDA	$	297.1		$	321.0		$	381.4	(i)
Depreciation and amortization		(94.7	)		(87.4	)		(83.9	)
Loss on extinguishments of debt		38.1			—			—
Noncontrolling interests (ii)		2.4			2.2			3.0
Operating income	$	242.9		$	235.8		$	300.5

(i)	Includes $39.9 gain on the sale of California storage facility. See Note 4 to consolidated financial statements.
(ii)	Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.
(b)	International Propane — Other principally comprises FLAGA, including, prior to the January 29, 2009 purchase of the 50% equity interest it did not already own, its central and eastern European joint-venture ZLH, and our propane distribution businesses in China and Denmark.
(c)	Corporate & Other results principally comprise UGI Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVAC/R”), net expenses of UGI’s captive general liability insurance company and UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate and Other assets principally comprise cash, short-term investments, assets of HVAC/R and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation.
(d)	Principally represents the elimination of intersegment transactions principally among Midstream & Marketing, Gas Utility and AmeriGas Propane.