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Segment Information | 3 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Segment Information | Note 13 — Segment Information Our operations comprise six reportable segments generally based upon products sold, geographic location and regulatory environment. Our reportable segments comprise: (1) AmeriGas Propane; (2) an international LPG segment comprising Antargaz; (3) an international LPG segment principally comprising Flaga and AvantiGas; (4) Gas Utility; (5) Energy Services; and (6) Electric Generation. We refer to both international segments together as “UGI International” and Energy Services and Electric Generation together as “Midstream & Marketing.” The accounting policies of our reportable segments are the same as those described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s 2014 Annual Report. We evaluate AmeriGas Propane’s performance principally based upon the Partnership’s earnings before interest expense, income taxes, depreciation and amortization as adjusted for net gains and losses on commodity derivative instruments not associated with current-period transactions (“Partnership Adjusted EBITDA”). Although we use Partnership Adjusted 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 GAAP. Our definition of Partnership Adjusted EBITDA may be different from that used by other companies. We evaluate the performance of our other reportable segments principally based upon their income before income taxes as adjusted for commodity derivative instruments. Net gains and losses on commodity derivative instruments not associated with current-period transactions are reflected in Corporate & Other because the Company’s chief operating decision maker does not consider such items when evaluating the financial performance of our reportable segments.
|  |  |  |  |  |  |  |  |  | Midstream & Marketing |  | UGI International |  |
|  | Total |  | Elim- inations |  | AmeriGas Propane |  | Gas Utility |  | Energy Services |  | Electric Generation |  | Antargaz |  | Flaga & Other |  | Corporate & Other (b)
Three Months Ended December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,004.6 |  |  | $ | (67.7 | ) | (c) | $ | 888.8 |  |  | $ | 260.5 |  |  | $ | 297.0 |  |  | $ | 16.5 |  |  | $ | 337.9 |  |  | $ | 224.6 |  |  | $ | 47.0 |
Cost of sales |  | $ | 1,404.6 |  |  | $ | (67.0 | ) | (c) | $ | 462.4 |  |  | $ | 127.2 |  |  | $ | 234.4 |  |  | $ | 8.0 |  |  | $ | 209.3 |  |  | $ | 172.6 |  |  | $ | 257.7 |
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 83.3 |  |  | $ | — |  |  | $ | 139.7 |  |  | $ | 71.8 |  |  | $ | 46.2 |  |  | $ | (0.7 | ) |  | $ | 38.4 |  |  | $ | 15.1 |  |  | $ | (227.2 | )
Loss from equity investees |  | (1.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.0 | ) |  | — |  |  | — |
Interest expense |  | (59.0 | ) |  | — |  |  | (41.0 | ) |  | (10.1 | ) |  | (0.6 | ) |  | — |  |  | (5.6 | ) |  | (1.0 | ) |  | (0.7 | )
Income (loss) before income taxes |  | $ | 23.3 |  |  | $ | — |  |  | $ | 98.7 |  |  | $ | 61.7 |  |  | $ | 45.6 |  |  | $ | (0.7 | ) |  | $ | 31.8 |  |  | $ | 14.1 |  |  | $ | (227.9 | )
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 188.5 |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income (loss) |  | $ | (33.9 | ) |  | $ | — |  |  | $ | 66.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | (100.8 | )
Depreciation and amortization |  | $ | 91.0 |  |  | $ | — |  |  | $ | 49.4 |  |  | $ | 14.3 |  |  | $ | 3.6 |  |  | $ | 2.7 |  |  | $ | 13.3 |  |  | $ | 6.1 |  |  | $ | 1.6 |
Capital expenditures |  | $ | 123.5 |  |  | $ | — |  |  | $ | 30.4 |  |  | $ | 53.5 |  |  | $ | 12.8 |  |  | $ | 6.6 |  |  | $ | 12.1 |  |  | $ | 6.4 |  |  | $ | 1.7 |
As of December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 10,430.0 |  |  | $ | (92.7 | ) |  | $ | 4,491.0 |  |  | $ | 2,346.2 |  |  | $ | 699.9 |  |  | $ | 286.4 |  |  | $ | 1,671.5 |  |  | $ | 579.0 |  |  | $ | 448.7 |
Short-term borrowings |  | $ | 458.5 |  |  | $ | — |  |  | $ | 253.0 |  |  | $ | 153.5 |  |  | $ | 43.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 9.0 |  |  | $ | — |
Goodwill |  | $ | 2,806.8 |  |  | $ | — |  |  | $ | 1,949.6 |  |  | $ | 182.1 |  |  | $ | 5.6 |  |  | $ | — |  |  | $ | 575.9 |  |  | $ | 87.4 |  |  | $ | 6.2 |
|  |  |  |  |  |  |  |  |  | Midstream & Marketing |  | UGI International |  |
|  | Total |  | Elim- inations |  | AmeriGas Propane |  | Gas Utility |  | Energy Services |  | Electric Generation |  | Antargaz |  | Flaga & Other |  | Corporate & Other (b)
Three Months Ended December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,315.9 |  |  | $ | (65.5 | ) | (c) | $ | 1,045.8 |  |  | $ | 271.6 |  |  | $ | 272.7 |  |  | $ | 20.8 |  |  | $ | 425.3 |  |  | $ | 293.3 |  |  | $ | 51.9 |
Cost of sales |  | $ | 1,429.9 |  |  | $ | (64.4 | ) | (c) | $ | 582.7 |  |  | $ | 135.5 |  |  | $ | 227.1 |  |  | $ | 10.6 |  |  | $ | 282.5 |  |  | $ | 231.7 |  |  | $ | 24.2 |
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 363.7 |  |  | $ | (0.1 | ) |  | $ | 179.7 |  |  | $ | 82.1 |  |  | $ | 31.8 |  |  | $ | 4.4 |  |  | $ | 43.2 |  |  | $ | 13.7 |  |  | $ | 8.9 |
Income from equity investees |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense |  | (59.3 | ) |  | — |  |  | (41.6 | ) |  | (8.4 | ) |  | (1.0 | ) |  | — |  |  | (6.4 | ) |  | (1.3 | ) |  | (0.6 | )
Income before income taxes |  | $ | 304.4 |  |  | $ | (0.1 | ) |  | $ | 138.1 |  |  | $ | 73.7 |  |  | $ | 30.8 |  |  | $ | 4.4 |  |  | $ | 36.8 |  |  | $ | 12.4 |  |  | $ | 8.3 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 230.2 |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income |  | $ | 95.5 |  |  | $ | — |  |  | $ | 95.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |
Depreciation and amortization |  | $ | 94.0 |  |  | $ | — |  |  | $ | 52.3 |  |  | $ | 13.4 |  |  | $ | 2.6 |  |  | $ | 2.6 |  |  | $ | 15.0 |  |  | $ | 6.6 |  |  | $ | 1.5 |
Capital expenditures |  | $ | 102.8 |  |  | $ | (1.2 | ) |  | $ | 23.3 |  |  | $ | 32.9 |  |  | $ | 21.7 |  |  | $ | 9.3 |  |  | $ | 9.8 |  |  | $ | 4.6 |  |  | $ | 2.4 |
As of December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 10,663.5 |  |  | $ | (101.1 | ) |  | $ | 4,682.3 |  |  | $ | 2,188.6 |  |  | $ | 574.8 |  |  | $ | 279.3 |  |  | $ | 1,938.9 |  |  | $ | 696.5 |  |  | $ | 404.2 |
Short-term borrowings |  | $ | 421.5 |  |  | $ | — |  |  | $ | 208.8 |  |  | $ | 73.5 |  |  | $ | 124.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 14.7 |  |  | $ | — |
Goodwill |  | $ | 2,884.5 |  |  | $ | — |  |  | $ | 1,938.8 |  |  | $ | 182.1 |  |  | $ | 2.8 |  |  | $ | — |  |  | $ | 654.3 |  |  | $ | 99.5 |  |  | $ | 7.0 |
(a) | The following table provides a reconciliation of Partnership Adjusted EBITDA to AmeriGas Propane operating income:
Three Months Ended December 31, |  | 2014 |  | 2013
Partnership Adjusted EBITDA |  | $ | 188.5 |  |  | $ | 230.2 |
Depreciation and amortization |  | (49.4 | ) |  | (52.3 | )
Noncontrolling interests (i) |  | 0.6 |  |  | 1.8 |
Operating income |  | $ | 139.7 |  |  | $ | 179.7 |
(i) | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.
(b) | Corporate & Other results principally comprise (1) Electric Utility, (2) Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting businesses (“HVAC”), (3) net expenses of UGI’s captive general liability insurance company, and (4) UGI Corporation’s unallocated corporate and general expenses and interest income. In addition, Corporate & Other results also include net gains and (losses) on commodity derivative instruments not associated with current-period transactions totaling $(229.7) and $(7.2) during the three months ended December 31, 2014 and 2013, respectively. Corporate & Other assets principally comprise cash, short-term investments, the assets of Electric Utility and HVAC, and, in the three months ended December 31, 2013, an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation.
(c) | Represents the elimination of intersegment transactions principally among Midstream & Marketing, Gas Utility and AmeriGas Propane.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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