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Segment Information | 9 Months Ended
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Jun. 30, 2016
Segment Reporting [Abstract] |
Segment Information | Note 14 — Segment Information Our operations comprise six reportable segments generally based upon products sold, geographic location and regulatory environment. As more fully described below, effective October 1, 2015, the composition of our UGI Utilities (formerly Gas Utility) and Energy Services reportable segments changed to include certain operating segments previously included in Corporate & Other. Our reportable segments comprise: (1) AmeriGas Propane; (2) an international LPG segment comprising UGI France; (3) an international LPG segment principally comprising Flaga and AvantiGas; (4) UGI Utilities; (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.” As a result of changes in the composition of information reported to our chief operating decision maker (“CODM”) associated with our regulated utility operations, effective October 1, 2015, we began including our Electric Utility operating segment with our Gas Utility reportable segment collectively referred to as “UGI Utilities.” Also, as a result of changes in segment management and reporting for HVAC, effective October 1, 2015, we began including the HVAC operating segment within our Energy Services reportable segment. Previously, these two operating segments, neither of which met the quantitative thresholds for presentation as a reportable segment under GAAP, were included within “Corporate & Other” in our segment information. In accordance with GAAP, prior-period amounts have been restated to reflect these changes. 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 2015 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 the effects of gains and losses on commodity derivative instruments not associated with current-period transactions and other gains and losses that competitors do not necessarily have (“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 gains and losses on commodity derivative instruments not associated with current-period transactions. Net gains and losses on commodity derivative instruments not associated with current-period transactions are reflected in Corporate & Other because the Company’s CODM does not consider such items when evaluating the financial performance of our reportable segments.
|  |  |  |  |  |  |  |  |  | Midstream & Marketing |  | UGI International |  |
Three Months Ended June 30, 2016 |  | Total |  | Elim- inations |  | AmeriGas Propane |  | UGI Utilities |  | Energy Services |  | Electric Generation |  | UGI France |  | Flaga & Other |  | Corporate & Other (b)
Revenues |  | $ | 1,130.8 |  |  | $ | (20.0 | ) | (c) | $ | 446.7 |  |  | $ | 140.3 |  |  | $ | 156.8 |  |  | $ | 11.7 |  |  | $ | 280.7 |  |  | $ | 114.8 |  |  | $ | (0.2 | )
Cost of sales |  | $ | 433.0 |  |  | $ | (19.2 | ) | (c) | $ | 170.8 |  |  | $ | 44.4 |  |  | $ | 121.7 |  |  | $ | 4.9 |  |  | $ | 117.9 |  |  | $ | 61.8 |  |  | $ | (69.3 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 155.7 |  |  | $ | 0.1 |  |  | $ | 18.3 |  |  | $ | 29.8 |  |  | $ | 12.6 |  |  | $ | (1.3 | ) |  | $ | 24.7 |  |  | $ | 8.8 |  |  | $ | 62.7 |
Loss on extinguishments of debt |  | (37.1 | ) |  | — |  |  | (37.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense |  | (56.4 | ) |  | — |  |  | (40.9 | ) |  | (9.1 | ) |  | (0.4 | ) |  | — |  |  | (4.9 | ) |  | (0.9 | ) |  | (0.2 | )
Income (loss) before income taxes |  | $ | 62.2 |  |  | $ | 0.1 |  |  | $ | (59.7 | ) |  | $ | 20.7 |  |  | $ | 12.2 |  |  | $ | (1.3 | ) |  | $ | 19.8 |  |  | $ | 7.9 |  |  | $ | 62.5 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 64.6 |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net (loss) income |  | $ | (32.1 | ) |  | $ | — |  |  | $ | (52.4 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.1 | ) |  | $ | — |  |  | $ | 20.4 |
Depreciation and amortization |  | $ | 98.1 |  |  | $ | (0.1 | ) |  | $ | 46.4 |  |  | $ | 16.6 |  |  | $ | 4.2 |  |  | $ | 3.4 |  |  | $ | 21.6 |  |  | $ | 5.8 |  |  | $ | 0.2 |
Capital expenditures (including the effects of accruals) |  | $ | 137.4 |  |  | $ | — |  |  | $ | 18.7 |  |  | $ | 56.5 |  |  | $ | 34.5 |  |  | $ | 1.8 |  |  | $ | 19.6 |  |  | $ | 6.3 |  |  | $ | — |
|  |  |  |  |  |  |  |  |  | Midstream & Marketing |  | UGI International |  |
Three Months Ended June 30, 2015 (d) |  | Total |  | Elim- inations |  | AmeriGas Propane |  | UGI Utilities |  | Energy Services |  | Electric Generation |  | UGI France |  | Flaga & Other |  | Corporate & Other (b)
Revenues |  | $ | 1,148.1 |  |  | $ | (27.0 | ) | (c) | $ | 478.0 |  |  | $ | 143.5 |  |  | $ | 189.5 |  |  | $ | 16.2 |  |  | $ | 196.1 |  |  | $ | 150.7 |  |  | $ | 1.1 |
Cost of sales |  | $ | 586.4 |  |  | $ | (26.4 | ) | (c) | $ | 211.4 |  |  | $ | 53.7 |  |  | $ | 148.2 |  |  | $ | 7.7 |  |  | $ | 107.9 |  |  | $ | 101.8 |  |  | $ | (17.9 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 56.1 |  |  | $ | — |  |  | $ | 0.8 |  |  | $ | 20.2 |  |  | $ | 18.2 |  |  | $ | 1.3 |  |  | $ | (9.1 | ) |  | $ | 8.8 |  |  | $ | 15.9 |
Interest expense |  | (67.5 | ) |  | — |  |  | (40.3 | ) |  | (9.9 | ) |  | (0.5 | ) |  | — |  |  | (15.7 | ) | (e) | (0.9 | ) |  | (0.2 | )
(Loss) income before income taxes |  | $ | (11.4 | ) |  | $ | — |  |  | $ | (39.5 | ) |  | $ | 10.3 |  |  | $ | 17.7 |  |  | $ | 1.3 |  |  | $ | (24.8 | ) |  | $ | 7.9 |  |  | $ | 15.7 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 48.9 |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net (loss) income |  | $ | (25.5 | ) |  | $ | — |  |  | $ | (36.1 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.2 | ) |  | $ | — |  |  | $ | 10.8 |
Depreciation and amortization |  | $ | 92.5 |  |  | $ | — |  |  | $ | 48.0 |  |  | $ | 15.9 |  |  | $ | 3.9 |  |  | $ | 3.2 |  |  | $ | 15.2 |  |  | $ | 5.9 |  |  | $ | 0.4 |
Capital expenditures (including the effects of accruals) |  | $ | 113.2 |  |  | $ | — |  |  | $ | 20.7 |  |  | $ | 43.3 |  |  | $ | 27.6 |  |  | $ | 1.1 |  |  | $ | 17.2 |  |  | $ | 3.3 |  |  | $ | — |
|  |  |  |  |  |  |  |  |  | Midstream & Marketing |  | UGI International |  |
Nine Months Ended June 30, 2016 |  | Total |  | Elim- inations |  | AmeriGas Propane |  | UGI Utilities |  | Energy Services |  | Electric Generation |  | UGI France |  | Flaga & Other |  | Corporate & Other (b)
Revenues |  | $ | 4,709.5 |  |  | $ | (124.6 | ) | (c) | $ | 1,918.3 |  |  | $ | 660.3 |  |  | $ | 657.3 |  |  | $ | 42.3 |  |  | $ | 1,136.1 |  |  | $ | 416.3 |  |  | $ | 3.5 |
Cost of sales |  | $ | 1,943.9 |  |  | $ | (122.2 | ) | (c) | $ | 712.2 |  |  | $ | 257.3 |  |  | $ | 459.0 |  |  | $ | 17.2 |  |  | $ | 507.7 |  |  | $ | 245.8 |  |  | $ | (133.1 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 1,076.6 |  |  | $ | 0.2 |  |  | $ | 398.3 |  |  | $ | 192.6 |  |  | $ | 130.0 |  |  | $ | 2.0 |  |  | $ | 188.0 |  |  | $ | 42.1 |  |  | $ | 123.4 |
Loss from equity investees |  | (0.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | — |
Loss on extinguishments of debt |  | (37.1 | ) |  | — |  |  | (37.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense |  | (171.6 | ) |  | — |  |  | (122.7 | ) |  | (27.9 | ) |  | (1.7 | ) |  | — |  |  | (16.1 | ) |  | (2.7 | ) |  | (0.5 | )
Income before income taxes |  | $ | 867.8 |  |  | $ | 0.2 |  |  | $ | 238.5 |  |  | $ | 164.7 |  |  | $ | 128.3 |  |  | $ | 2.0 |  |  | $ | 171.8 |  |  | $ | 39.4 |  |  | $ | 122.9 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 537.7 |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income |  | $ | 196.0 |  |  | $ | — |  |  | $ | 150.9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 45.0 |
Depreciation and amortization |  | $ | 299.4 |  |  | $ | (0.2 | ) |  | $ | 143.0 |  |  | $ | 50.3 |  |  | $ | 12.6 |  |  | $ | 10.1 |  |  | $ | 66.5 |  |  | $ | 16.4 |  |  | $ | 0.7 |
Capital expenditures (including the effects of accruals) |  | $ | 384.8 |  |  | $ | — |  |  | $ | 74.5 |  |  | $ | 166.1 |  |  | $ | 71.6 |  |  | $ | 3.4 |  |  | $ | 53.2 |  |  | $ | 16.0 |  |  | $ | — |
As of June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 11,144.2 |  |  | $ | (82.6 | ) |  | $ | 4,406.6 |  |  | $ | 2,699.9 |  |  | $ | 720.9 |  |  | $ | 277.1 |  |  | $ | 2,386.8 |  |  | $ | 519.8 |  |  | $ | 215.7 |
Short-term borrowings |  | $ | 144.0 |  |  | $ | — |  |  | $ | 11.4 |  |  | $ | 130.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.7 |  |  | $ | 1.9 |  |  | $ | — |
Goodwill |  | $ | 2,981.3 |  |  | $ | — |  |  | $ | 1,978.2 |  |  | $ | 182.1 |  |  | $ | 11.5 |  |  | $ | — |  |  | $ | 714.4 |  |  | $ | 95.1 |  |  | $ | — |
|  |  |  |  |  |  |  |  |  | Midstream & Marketing |  | UGI International |  |
Nine Months Ended June 30, 2015 (d) |  | Total |  | Elim- inations |  | AmeriGas Propane |  | UGI Utilities |  | Energy Services |  | Electric Generation |  | UGI France |  | Flaga & Other |  | Corporate & Other (b)
Revenues |  | $ | 5,608.3 |  |  | $ | (209.4 | ) | (c) | $ | 2,467.1 |  |  | $ | 931.4 |  |  | $ | 927.7 |  |  | $ | 57.5 |  |  | $ | 881.2 |  |  | $ | 548.2 |  |  | $ | 4.6 |
Cost of sales |  | $ | 3,196.4 |  |  | $ | (207.4 | ) | (c) | $ | 1,179.0 |  |  | $ | 475.1 |  |  | $ | 698.3 |  |  | $ | 25.1 |  |  | $ | 517.5 |  |  | $ | 397.7 |  |  | $ | 111.1 |
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 841.5 |  |  | $ | 0.1 |  |  | $ | 437.4 |  |  | $ | 238.5 |  |  | $ | 155.6 |  |  | $ | 8.6 |  |  | $ | 82.5 |  |  | $ | 35.4 |  |  | $ | (116.6 | )
Loss from equity investees |  | (1.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.1 | ) |  | — |  |  | — |
Interest expense |  | (184.7 | ) |  | — |  |  | (122.4 | ) |  | (31.2 | ) |  | (1.6 | ) |  | — |  |  | (26.2 | ) | (e) | (2.8 | ) |  | (0.5 | )
Income (loss) before income taxes |  | $ | 655.7 |  |  | $ | 0.1 |  |  | $ | 315.0 |  |  | $ | 207.3 |  |  | $ | 154.0 |  |  | $ | 8.6 |  |  | $ | 55.2 |  |  | $ | 32.6 |  |  | $ | (117.1 | )
Partnership EBITDA (a) |  |  |  |  |  | $ | 579.5 |  |  |  |  |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income |  | $ | 176.3 |  |  | $ | — |  |  | $ | 211.6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | (35.5 | )
Depreciation and amortization |  | $ | 271.5 |  |  | $ | — |  |  | $ | 145.5 |  |  | $ | 47.0 |  |  | $ | 11.6 |  |  | $ | 9.2 |  |  | $ | 40.3 |  |  | $ | 17.2 |  |  | $ | 0.7 |
Capital expenditures (including the effects of accruals) |  | $ | 328.1 |  |  | $ | — |  |  | $ | 77.9 |  |  | $ | 139.6 |  |  | $ | 46.6 |  |  | $ | 10.0 |  |  | $ | 38.9 |  |  | $ | 15.1 |  |  | $ | — |
As of June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 10,520.0 |  |  | $ | (121.8 | ) |  | $ | 4,202.6 |  |  | $ | 2,423.2 |  |  | $ | 660.6 |  |  | $ | 277.6 |  |  | $ | 2,377.9 |  |  | $ | 534.5 |  |  | $ | 165.4 |
Short-term borrowings |  | $ | 68.0 |  |  | $ | — |  |  | $ | 43.6 |  |  | $ | 2.7 |  |  | $ | 20.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.7 |  |  | $ | — |
Goodwill |  | $ | 2,927.7 |  |  | $ | — |  |  | $ | 1,954.1 |  |  | $ | 182.1 |  |  | $ | 11.9 |  |  | $ | — |  |  | $ | 699.8 |  |  | $ | 79.8 |  |  | $ | — |
(a) | The following table provides a reconciliation of Partnership Adjusted EBITDA to AmeriGas Propane (loss) income before income taxes:
|  | Three Months Ended June 30, |  | Nine Months Ended June 30,
|  | 2016 |  | 2015 |  | 2016 |  | 2015
Partnership Adjusted EBITDA |  | $ | 64.6 |  |  | $ | 48.9 |  |  | $ | 537.7 |  |  | $ | 579.5 |
Depreciation and amortization |  | (46.4 | ) |  | (48.0 | ) |  | (143.0 | ) |  | (145.5 | )
Interest expense |  | (40.9 | ) |  | (40.3 | ) |  | (122.7 | ) |  | (122.4 | )
Loss on extinguishments of debt |  | (37.1 | ) |  | — |  |  | (37.1 | ) |  | — |
Noncontrolling interests (i) |  | 0.1 |  |  | (0.1 | ) |  | 3.6 |  |  | 3.4 |
(Loss) income before income taxes |  | $ | (59.7 | ) |  | $ | (39.5 | ) |  | $ | 238.5 |  |  | $ | 315.0 |
(i) | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.
(b) | Corporate & Other results principally comprise (1) net expenses of UGI’s captive general liability insurance company, and (2) UGI Corporation’s unallocated corporate and general expenses and interest income. In addition, Corporate & Other results also include the effects of net pre-tax gains and (losses) on commodity derivative instruments not associated with current-period transactions totaling $67.9 and $18.1 during the three months ended June 30, 2016 and 2015, respectively, and $133.0 and $(109.5) during the nine months ended June 30, 2016 and 2015, respectively. Corporate & Other assets principally comprise cash and short-term investments of UGI and its captive insurance company; UGI corporate headquarters’ assets; and our investment in a private equity partnership.
(c) | Represents the elimination of intersegment transactions principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.
(d) | Certain amounts have been restated to reflect the current-year changes in our segment presentation as described above.
(e) | UGI France interest expense includes pre-tax loss of $10.3 associated with an early extinguishment of debt (see Note 8).

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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 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: 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=51669610&loc=d3e9038-108599 Reference 3: 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=51669610&loc=d3e8971-108599 Reference 4: 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=51669610&loc=d3e8595-108599 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=51669610&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 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: 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=51669610&loc=d3e8844-108599 Reference 8: 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=51669610&loc=d3e8984-108599 Reference 9: 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=51669610&loc=d3e9031-108599 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=51669610&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 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: 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=51669610&loc=d3e8864-108599 Reference 13: 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=51669610&loc=d3e8924-108599 Reference 14: 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=51669610&loc=d3e8906-108599 + Details
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