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Common Stock and Equity Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2014
Share-based Compensation [Abstract] |
Common Stock Share Activity | UGI Common Stock share activity for Fiscal 2012, Fiscal 2013 and Fiscal 2014 follows:
| Issued |  | Treasury |  | Outstanding
Balance, September 30, 2011 | 173,260,641 |  |  | (5,506,608 | ) |  | 167,754,033 |
Issued: |  |  |  |  |
Employee and director plans | 176,250 |  |  | 1,237,388 |  |  | 1,413,638 |
Dividend reinvestment plan | — |  |  | 157,491 |  |  | 157,491 |
Shares reacquired - employee and director plans | — |  |  | (394,530 | ) |  | (394,530 | )
Balance, September 30, 2012 | 173,436,891 |  |  | (4,506,259 | ) |  | 168,930,632 |
Issued: |  |  |  |  |
Employee and director plans | 238,800 |  |  | 3,933,507 |  |  | 4,172,307 |
Dividend reinvestment plan | — |  |  | 93,253 |  |  | 93,253 |
Shares reacquired - employee and director plans | — |  |  | (1,552,905 | ) |  | (1,552,905 | )
Balance, September 30, 2013 | 173,675,691 |  |  | (2,032,404 | ) |  | 171,643,287 |
Issued: |  |  |  |  |
Employee and director plans | 94,950 |  |  | 2,928,140 |  |  | 3,023,090 |
Repurchases of Common Stock | — |  |  | (1,227,654 | ) |  | (1,227,654 | )
Shares reacquired - employee and director plans | — |  |  | (1,164,942 | ) |  | (1,164,942 | )
Balance, September 30, 2014 | 173,770,641 |  |  | (1,496,860 | ) |  | 172,273,781 |
Stock Option Awards | Stock option transactions under equity-based compensation plans during Fiscal 2012, Fiscal 2013 and Fiscal 2014 follow:
| Shares |  | Weighted Average Option Price |  | Total Intrinsic Value |  | Weighted Average Contract Term (Years)
Shares under option — September 30, 2011 | 11,509,769 |  |  | $ | 17.03 |  |  | $ | 15.1 |  |  | 6.2
Granted | 2,262,075 |  |  | $ | 19.51 |  |  |  |  |
Cancelled | (482,400 | ) |  | $ | 18.49 |  |  |  |  |
Exercised | (1,202,786 | ) |  | $ | 13.95 |  |  | $ | 7.2 |  |  |
Shares under option — September 30, 2012 | 12,086,658 |  |  | $ | 17.75 |  |  | $ | 41.4 |  |  | 6.1
Granted | 2,275,350 |  |  | $ | 22.38 |  |  |  |  |
Cancelled | (134,754 | ) |  | $ | 20.34 |  |  |  |  |
Exercised | (4,033,302 | ) |  | $ | 16.39 |  |  | $ | 35.4 |  |  |
Shares under option — September 30, 2013 | 10,193,952 |  |  | $ | 19.28 |  |  | $ | 69.6 |  |  | 6.8
Granted | 1,665,600 |  |  | $ | 27.93 |  |  |  |  |
Cancelled | (86,707 | ) |  | $ | 22.76 |  |  |  |  |
Exercised | (2,815,555 | ) |  | $ | 17.44 |  |  | $ | 37.4 |  |  |
Shares under option — September 30, 2014 | 8,957,290 |  |  | $ | 21.44 |  |  | $ | 113.3 |  |  | 7.0
Options exercisable — September 30, 2012 | 7,976,547 |  |  | $ | 16.88 |  |  |  |  |
Options exercisable — September 30, 2013 | 5,871,091 |  |  | $ | 17.95 |  |  |  |  |
Options exercisable — September 30, 2014 | 5,073,347 |  |  | $ | 19.45 |  |  | $ | 74.2 |  |  | 6.0
Options not exercisable — September 30, 2014 | 3,883,943 |  |  | $ | 24.02 |  |  | $ | 39.1 |  |  | 8.5
Additional Information Relating to Stock Options Outstanding and Exercisable | The following table presents additional information relating to stock options outstanding and exercisable at September 30, 2014:
| Range of exercise prices
| Under $15.00 |  | $15.01 - $20.00 |  | $20.01 - $25.00 |  | Over $25.00
Options outstanding at September 30, 2014: |  |  |  |  |  |  |
Number of options | 102,000 |  |  | 3,452,480 |  |  | 3,500,910 |  |  | 1,901,900 |
Weighted average remaining contractual life (in years) | 1.4 |  |  | 5.7 |  |  | 7.2 |  |  | 9.2 |
Weighted average exercise price | $ | 14.47 |  |  | $ | 18.15 |  |  | $ | 21.45 |  |  | $ | 27.74 |
Options exercisable at September 30, 2014: |  |  |  |  |  |  |
Number of options | 102,000 |  |  | 2,727,509 |  |  | 2,077,840 |  |  | 165,998 |
Weighted average exercise price | $ | 14.47 |  |  | $ | 17.81 |  |  | $ | 21.27 |  |  | $ | 26.85 |
Assumptions Used for Valuing Option Grants | The assumptions we used for valuing option grants during Fiscal 2014, Fiscal 2013 and Fiscal 2012 are as follows:
| 2014 |  | 2013 |  | 2012
Expected life of option | 5.75 years |  | 5.75 years |  | 5.75 years
Weighted average volatility | 24.3% |  | 24.9% |  | 24.7%
Weighted average dividend yield | 2.9% |  | 3.6% |  | 3.5%
Expected volatility | 23.7% - 24.4% |  | 24.4% - 24.9% |  | 24.7%
Expected dividend yield | 2.7% - 2.9% |  | 3.2% - 3.7% |  | 3.3% - 3.7%
Risk free rate | 1.8% - 2.0% |  | 0.8% - 1.7% |  | 0.8% - 1.1%
Weighted Average Assumptions Used to Determine the Fair Value of UGI Performance Unit Awards and Related Compensation Costs | The following table summarizes the weighted average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs:
| Grants Awarded in Fiscal
| 2014 |  | 2013 |  | 2012
Risk free rate | 0.8 | % |  | 0.4 | % |  | 0.4 | %
Expected life | 3 years |  |  | 3 years |  |  | 3 years |
Expected volatility | 20.3 | % |  | 21.1 | % |  | 22.2 | %
Dividend yield | 2.7 | % |  | 3.3 | % |  | 3.5 | %
UGI Performance Unit Award Activity | The following table summarizes UGI Unit award activity for Fiscal 2014:
| Total |  | Vested |  | Non-Vested
| Number of UGI Units |  | Weighted Average Grant Date Fair Value (per Unit) |  | Number of UGI Units |  | Weighted Average Grant Date Fair Value (per Unit) |  | Number of UGI Units |  | Weighted Average Grant Date Fair Value (per Unit)
September 30, 2013 | 1,380,902 |  |  | $ | 18.35 |  |  | 822,975 |  |  | $ | 15.45 |  |  | 557,927 |  |  | $ | 22.62 |
UGI Performance Units: |  |  |  |  |  |  |  |  |  |  |
Granted | 189,450 |  |  | $ | 32.32 |  |  | 9,570 |  |  | $ | 32.02 |  |  | 179,880 |  |  | $ | 32.33 |
Forfeited | (7,200 | ) |  | $ | 24.95 |  |  | — |  |  | $ | — |  |  | (7,200 | ) |  | $ | 24.95 |
Vested | — |  |  | $ | — |  |  | 205,282 |  |  | $ | 21.15 |  |  | (205,282 | ) |  | $ | 21.15 |
Unit awards paid | (267,146 | ) |  | $ | 22.17 |  |  | (267,146 | ) |  | $ | 22.17 |  |  | — |  |  | $ | — |
UGI Stock Units: |  |  |  |  |  |  |  |  |  |  |
Granted (a) | 44,814 |  |  | $ | 27.41 |  |  | 43,689 |  |  | $ | 27.35 |  |  | 1,125 |  |  | $ | 29.84 |
Vested | — |  |  | $ | — |  |  | 1,500 |  |  | $ | 22.29 |  |  | (1,500 | ) |  | $ | 22.29 |
Unit awards paid | (34,639 | ) |  | $ | 14.41 |  |  | (34,639 | ) |  | $ | 14.41 |  |  | — |  |  | $ | — |
September 30, 2014 | 1,306,181 |  |  | $ | 20.58 |  |  | 781,231 |  |  | $ | 16.60 |  |  | 524,950 |  |  | $ | 26.51 |
(a) | Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in shares. UGI Stock Unit awards granted in Fiscal 2013 and Fiscal 2012 were 51,038 and 63,668, respectively.
Schedule of Payment for UGI Performance Unit and UGI Stock Unit Awards in Shares and Cash | During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Company paid UGI Performance Unit and UGI Stock Unit awards in shares and cash as follows:
| 2014 |  | 2013 |  | 2012
UGI Performance Unit awards: |  |  |  |  |
Number of original awards granted | 331,038 |  |  | 328,025 |  |  | 316,125 |
Fiscal year granted | 2011 |  |  | 2010 |  |  | 2009 |
Payment of awards: |  |  |  |  |
Shares of UGI Common Stock issued | 174,168 |  |  | 97,622 |  |  | — |
Cash paid | $ | 3.1 |  |  | $ | 1.6 |  |  | $ | — |
UGI Stock Unit awards: |  |  |  |  |
Number of original awards granted | 34,639 |  |  | 54,269 |  |  | 49,347 |
Payment of awards: |  |  |  |  |
Shares of UGI Common Stock issued | 22,604 |  |  | 35,274 |  |  | 32,636 |
Cash paid | $ | 0.4 |  |  | $ | 0.5 |  |  | $ | 0.2 |
Weighted Average Assumption Used to Determine the Fair Value of AmeriGas Performance Unit Awards and Related Compensation Costs | The following table summarizes the weighted-average assumptions used to determine the fair value of AmeriGas Performance Unit awards and related compensation costs:
| Grants Awarded in Fiscal
| 2014 |  | 2013 |  | 2012
Risk-free rate | 0.8 | % |  | 0.4 | % |  | 0.4 | %
Expected life | 3 years |  |  | 3 years |  |  | 3 years |
Expected volatility | 21.1 | % |  | 20.7 | % |  | 23.0 | %
Dividend yield | 7.5 | % |  | 8.2 | % |  | 6.4 | %
AmeriGas Common Unit Based Award Activity | The following table summarizes AmeriGas Common Unit-based award activity for Fiscal 2014:
| Total |  | Vested |  | Non-Vested
| Number of AmeriGas Partners Common Units Subject to Award |  | Weighted Average Grant Date Fair Value (per Unit) |  | Number of AmeriGas Partners Common Units Subject to Award |  | Weighted Average Grant Date Fair Value (per Unit) |  | Number of AmeriGas Partners Common Units Subject to Award |  | Weighted Average Grant Date Fair Value (per Unit)
September 30, 2013 | 224,167 |  |  | $ | 47.88 |  |  | 47,715 |  |  | $ | 47.92 |  |  | 176,452 |  |  | $ | 47.87 |
AmeriGas Performance Units: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Granted | 53,800 |  |  | $ | 41.50 |  |  | 633 |  |  | $ | 41.37 |  |  | 53,167 |  |  | $ | 41.50 |
Forfeited | (8,150 | ) |  | $ | 45.96 |  |  | — |  |  | $ | — |  |  | (8,150 | ) |  | $ | 45.96 |
Vested | — |  |  | $ | — |  |  | 15,319 |  |  | $ | 53.93 |  |  | (15,319 | ) |  | $ | 53.93 |
Performance criteria not met | (31,317 | ) |  | $ | 54.51 |  |  | (31,317 | ) |  | $ | 54.51 |  |  | — |  |  | $ | — |
AmeriGas Stock Units: |  |  |  |  |  |  |  |  |  |  |
Granted | 32,658 |  |  | $ | 46.37 |  |  | 15,936 |  |  | $ | 48.00 |  |  | 16,722 |  |  | $ | 44.81 |
Forfeited | (7,783 | ) |  | $ | 51.10 |  |  | — |  |  | $ | — |  |  | (7,783 | ) |  | $ | (51.10 | )
Vested | — |  |  | $ | — |  |  | 52,061 |  |  | $ | 47.58 |  |  | (52,061 | ) |  | $ | 47.58 |
Awards paid | (63,140 | ) |  | $ | 48.00 |  |  | (63,140 | ) |  | $ | 48.00 |  |  | — |  |  | $ | — |
September 30, 2014 | 200,235 |  |  | $ | 44.82 |  |  | 37,207 |  |  | $ | 44.27 |  |  | 163,028 |  |  | $ | 44.95 |
AmeriGas Common Unit Based Awards in Common Units and Cash | During Fiscal 2014, Fiscal 2013 and Fiscal 2012, the Partnership paid AmeriGas Performance Unit and AmeriGas Stock Unit awards in Common Units and cash as follows:
| 2014 |  | 2013 |  | 2012
AmeriGas Performance Unit awards: |  |  |  |  |
Number of Common Units subject to original awards granted | 41,251 |  |  | 48,150 |  |  | 53,600 |
Fiscal year granted | 2011 |  |  | 2010 |  |  | 2009 |
Payment of awards: |  |  |  |  |
AmeriGas Partners Common Units issued | — |  |  | — |  |  | — |
Cash paid | $ | — |  |  | $ | — |  |  | $ | — |
AmeriGas Stock Unit awards: |  |  |  |  |
Number of Common Units subject to original awards granted | 72,023 |  |  | 35,934 |  |  | 67,246 |
Payment of awards: |  |  |  |  |
AmeriGas Partners Common Units issued | 40,842 |  |  | 23,192 |  |  | 44,016 |
Cash paid | $ | 1.4 |  |  | $ | 0.6 |  |  | $ | 1.0 |

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