XML 18 R39.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Employee Retirement Plans (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] |
Change in Pension Benefits and Other Postretirement Benefits Obligations | The following table provides a reconciliation of the projected benefit obligations (“PBOs”) of the U.S. Pension Plan and the Antargaz pension plans, the accumulated benefit obligations (“ABOs”) of our other postretirement benefit plans, plan assets, and the funded status of pension and other postretirement plans as of September 30, 2014 and 2013. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect estimated future compensation.
| Pension Benefits |  | Other Postretirement Benefits
| 2014 |  | 2013 |  | 2014 |  | 2013
Change in benefit obligations: |  |  |  |  |  |  |
Benefit obligations — beginning of year | $ | 516.5 |  |  | $ | 573.4 |  |  | $ | 19.7 |  |  | $ | 24.7 |
Service cost | 9.4 |  |  | 11.3 |  |  | 0.5 |  |  | 0.6 |
Interest cost | 26.1 |  |  | 23.8 |  |  | 0.9 |  |  | 0.9 |
Actuarial (gain) loss | 46.8 |  |  | (72.7 | ) |  | 1.3 |  |  | (3.6 | )
Plan amendments | — |  |  | 1.0 |  |  | — |  |  | (1.8 | )
Foreign currency | (2.4 | ) |  | 1.5 |  |  | (0.3 | ) |  | 0.2 |
Benefits paid | (22.8 | ) |  | (21.8 | ) |  | (0.8 | ) |  | (1.3 | )
Benefit obligations — end of year | $ | 573.6 |  |  | $ | 516.5 |  |  | $ | 21.3 |  |  | $ | 19.7 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets — beginning of year | $ | 415.3 |  |  | $ | 369.9 |  |  | $ | 11.7 |  |  | $ | 11.2 |
Actual gain on plan assets | 47.9 |  |  | 42.2 |  |  | 1.4 |  |  | 1.1 |
Foreign currency | (1.2 | ) |  | 0.8 |  |  | — |  |  | — |
Employer contributions | 20.2 |  |  | 24.2 |  |  | 0.5 |  |  | 0.7 |
Benefits paid | (22.8 | ) |  | (21.8 | ) |  | (0.8 | ) |  | (1.3 | )
Fair value of plan assets — end of year | $ | 459.4 |  |  | $ | 415.3 |  |  | $ | 12.8 |  |  | $ | 11.7 |
Funded status of the plans — end of year | $ | (114.2 | ) |  | $ | (101.2 | ) |  | $ | (8.5 | ) |  | $ | (8.0 | )
Assets (liabilities) recorded in the balance sheet: |  |  |  |  |  |  |
Assets in excess of liabilities — included in other noncurrent assets | $ | — |  |  | $ | — |  |  | $ | 4.0 |  |  | $ | 3.2 |
Unfunded liabilities — included in other current liabilities | (1.1 | ) |  | (17.9 | ) |  | (0.1 | ) |  | (0.4 | )
Unfunded liabilities — included in other noncurrent liabilities | (113.1 | ) |  | (83.3 | ) |  | (12.4 | ) |  | (10.8 | )
Net amount recognized | $ | (114.2 | ) |  | $ | (101.2 | ) |  | $ | (8.5 | ) |  | $ | (8.0 | )
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax): |  |  |  |  |  |  |
Prior service credit | $ | (0.1 | ) |  | $ | (0.1 | ) |  | $ | (0.1 | ) |  | $ | (0.1 | )
Net actuarial loss (gain) | 20.8 |  |  | 16.7 |  |  | 0.8 |  |  | (0.4 | )
Total | $ | 20.7 |  |  | $ | 16.6 |  |  | $ | 0.7 |  |  | $ | (0.5 | )
Amounts recorded in regulatory assets and liabilities (pre-tax): |  |  |  |  |  |  |
Prior service cost (credit) | $ | 1.9 |  |  | $ | 2.2 |  |  | $ | (3.6 | ) |  | $ | (4.3 | )
Net actuarial loss | 107.4 |  |  | 91.3 |  |  | 2.6 |  |  | 3.6 |
Total | $ | 109.3 |  |  | $ | 93.5 |  |  | $ | (1.0 | ) |  | $ | (0.7 | )
Actuarial Assumptions for Domestic Plans | The expected rate of return on assets assumption is based on current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below).
| Pension Plan |  |  | Other Postretirement Benefits |
| 2014 |  | 2013 |  | 2012 |  |  | 2014 |  | 2013 |  | 2012 |
Weighted-average assumptions: |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate - benefit obligations | 4.60 | % |  | 5.20 | % |  | 4.20 | % |  |  | 4.60 | % |  | 5.10% - 5.40% |  |  | 4.10% - 4.30% |  |
Discount rate - benefit cost | 5.20 | % |  | 4.20 | % |  | 5.30 | % |  |  | 5.10% - 5.40% |  |  | 4.10% - 4.30% |  |  | 5.30 | % |
Expected return on plan assets | 7.75 | % |  | 7.75 | % |  | 7.75 | % |  |  | 5.00 | % |  | 5.00 | % |  | 5.20 | % |
Rate of increase in salary levels | 3.25 | % |  | 3.25 | % |  | 3.25 | % |  |  | 3.25 | % |  | 3.25 | % |  | 3.25 | % |
Net Periodic Pension Expense and Other Postretirement Benefit Costs | Net periodic pension expense and other postretirement benefit cost includes the following components:
| Pension Benefits |  | Other Postretirement Benefits
| 2014 |  | 2013 |  | 2012 |  | 2014 |  | 2013 |  | 2012
Service cost | $ | 9.4 |  |  | $ | 11.3 |  |  | $ | 9.3 |  |  | $ | 0.5 |  |  | $ | 0.6 |  |  | $ | 0.4 |
Interest cost | 26.1 |  |  | 23.8 |  |  | 25.1 |  |  | 0.9 |  |  | 0.9 |  |  | 1.1 |
Expected return on assets | (29.7 | ) |  | (27.8 | ) |  | (26.2 | ) |  | (0.6 | ) |  | (0.5 | ) |  | (0.5 | )
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Prior service cost (benefit) | 0.3 |  |  | 0.3 |  |  | 0.2 |  |  | (0.5 | ) |  | (0.3 | ) |  | (0.3 | )
Actuarial loss | 7.7 |  |  | 15.1 |  |  | 8.4 |  |  | — |  |  | 0.4 |  |  | 0.3 |
Net benefit cost | 13.8 |  |  | 22.7 |  |  | 16.8 |  |  | 0.3 |  |  | 1.1 |  |  | 1.0 |
Change in associated regulatory liabilities | — |  |  | — |  |  | — |  |  | 3.7 |  |  | 3.3 |  |  | 3.2 |
Net benefit cost after change in regulatory liabilities | $ | 13.8 |  |  | $ | 22.7 |  |  | $ | 16.8 |  |  | $ | 4.0 |  |  | $ | 4.4 |  |  | $ | 4.2 |
Expected Payments for Pension Benefits and Other Postretirement Welfare Benefits | Expected payments for pension and other postretirement welfare benefits are as follows:
| Pension Benefits |  | Other Postretirement Benefits
Fiscal 2015 | $ | 25.6 |  |  | $ | 1.1 |
Fiscal 2016 | $ | 25.8 |  |  | $ | 1.1 |
Fiscal 2017 | $ | 27.2 |  |  | $ | 1.0 |
Fiscal 2018 | $ | 30.3 |  |  | $ | 1.0 |
Fiscal 2019 | $ | 32.6 |  |  | $ | 1.0 |
Fiscal 2020 - 2024 | $ | 175.1 |  |  | $ | 4.9 |
Schedule of Health Care Cost Trend Rates |
| 2014 |  | 2013
Health care cost trend rate assumed for next year | 7.0 | % |  | 7.5 | %
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) | 5.0 | % |  | 5.0 | %
Fiscal year that the rate reaches the ultimate trend rate | 2019 |  |  | 2019 |
Pension Plans | The targets, target ranges and actual allocations for the U.S. Pension Plan and VEBA trust assets at September 30 are as follows: U.S. Pension Plan
| Actual |  | Target Asset Allocation |  | Permitted Range
| 2014 |  | 2013 |  |
Equity investments: |  |  |  |  |  |  |
Domestic | 55.6 | % |  | 57.5 | % |  | 52.5 | % |  | 40.0% - 65.0%
International | 11.3 | % |  | 11.1 | % |  | 12.5 | % |  | 7.5% - 17.5%
Total | 66.9 | % |  | 68.6 | % |  | 65.0 | % |  | 60.0% - 70.0%
Fixed income funds & cash equivalents | 33.1 | % |  | 31.4 | % |  | 35.0 | % |  | 30.0% - 40.0%
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  |
VEBA
| Actual |  | Target Asset Allocation |  | Permitted Range
| 2014 |  | 2013 |  |
Domestic equity investments | 67.9 | % |  | 65.6 | % |  | 65.0 | % |  | 60.0% - 70.0%
Fixed income funds & cash equivalents | 32.1 | % |  | 34.4 | % |  | 35.0 | % |  | 30.0% - 40.0%
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  |
Fair Value of U.S. Pension Plan and VEBA Trust Assets | The fair values of the U.S. Pension Plan and VEBA trust assets by asset class and level within the fair value hierarchy, as described in Note 2, as of September 30, 2014 and 2013 are as follows:
| U.S. Pension Plan
| Level 1 |  | Level 2 |  | Level 3 |  | Total
September 30, 2014: |  |  |  |  |  |  |
Domestic equity investments: |  |  |  |  |  |  |
S&P 500 Index equity mutual funds | $ | 152.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 152.6 |
Small and midcap equity mutual funds | 41.4 |  |  | — |  |  | — |  |  | 41.4 |
Smallcap common stocks | 9.3 |  |  | — |  |  | — |  |  | 9.3 |
UGI Corporation Common Stock | 42.5 |  |  | — |  |  | — |  |  | 42.5 |
Total domestic equity investments | 245.8 |  |  | — |  |  | — |  |  | 245.8 |
International index equity mutual funds | 49.9 |  |  | — |  |  | — |  |  | 49.9 |
Fixed income investments: |  |  |  |  |  |  |
Bond index mutual funds | 141.0 |  |  | — |  |  | — |  |  | 141.0 |
Cash equivalents | — |  |  | 5.7 |  |  | — |  |  | 5.7 |
Total fixed income investments | 141.0 |  |  | 5.7 |  |  | — |  |  | 146.7 |
Total | $ | 436.7 |  |  | $ | 5.7 |  |  | $ | — |  |  | $ | 442.4 |
September 30, 2013: |  |  |  |  |  |  |
Domestic equity investments: |  |  |  |  |  |  |
S&P 500 Index equity mutual funds | $ | 141.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 141.8 |
Small and midcap equity mutual funds | 54.5 |  |  | — |  |  | — |  |  | 54.5 |
UGI Corporation Common Stock | 32.6 |  |  | — |  |  | — |  |  | 32.6 |
Total domestic equity investments | 228.9 |  |  | — |  |  | — |  |  | 228.9 |
International index equity mutual funds | 44.4 |  |  | — |  |  | — |  |  | 44.4 |
Fixed income investments: |  |  |  |  |  |  |
Bond index mutual funds | 120.9 |  |  | — |  |  | — |  |  | 120.9 |
Cash equivalents | — |  |  | 4.0 |  |  | — |  |  | 4.0 |
Total fixed income investments | 120.9 |  |  | 4.0 |  |  | — |  |  | 124.9 |
Total | $ | 394.2 |  |  | $ | 4.0 |  |  | $ | — |  |  | $ | 398.2 |
| VEBA
| Level 1 |  | Level 2 |  | Level 3 |  | Total
September 30, 2014: |  |  |  |  |  |  |
S&P 500 Index equity mutual fund | $ | 8.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 8.7 |
Bond index mutual fund | 3.7 |  |  | — |  |  | — |  |  | 3.7 |
Cash equivalents | — |  |  | 0.4 |  |  | — |  |  | 0.4 |
Total | $ | 12.4 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 12.8 |
September 30, 2013: |  |  |  |  |  |  |
S&P 500 Index equity mutual fund | $ | 7.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 7.7 |
Bond index mutual fund | 3.8 |  |  | — |  |  | — |  |  | 3.8 |
Cash equivalents | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Total | $ | 11.5 |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | 11.7 |

X
- Definition Fair value of pension plan and VEBA trust assets. + References No definition available. + Details
Name: | ugi_FairValueOfPensionPlanAndVebaTrustAssetsTableTextBlock
Namespace Prefix: | ugi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DefinedBenefitPensionPlansAndDefinedBenefitPostretirementPlansDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfHealthCareCostTrendRatesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of net funded status of pension plans and/or other employee benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetFundedStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration