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Segment Information (Tables) | 6 Months Ended
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Mar. 31, 2017
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
Three Months Ended March 31, 2017 |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (b)
Revenues |  | $ | 2,173.8 |  |  | $ | (95.8 | ) | (c) | $ | 863.6 |  |  | $ | 620.7 |  |  | $ | 423.7 |  |  | $ | 360.0 |  |  | $ | 1.6 |
Cost of sales |  | $ | 1,071.2 |  |  | $ | (94.9 | ) | (c) | $ | 355.8 |  |  | $ | 313.1 |  |  | $ | 309.8 |  |  | $ | 164.5 |  |  | $ | 22.9 |
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income (loss) |  | $ | 513.2 |  |  | $ | — |  |  | $ | 227.3 |  |  | $ | 121.0 |  |  | $ | 82.1 |  |  | $ | 116.4 |  |  | $ | (33.6 | )
Income (loss) from equity investees |  | 2.3 |  |  | — |  |  | — |  |  | (0.1 | ) |  | 2.4 |  |  | — |  |  | — |
(Losses) gains on foreign currency contracts, net |  | (1.2 | ) |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | (1.3 | )
Loss on extinguishment of debt |  | (22.1 | ) |  | — |  |  | (22.1 | ) |  | — |  |  | — |  |  | — |  |  | — |
Interest expense |  | (55.8 | ) |  | — |  |  | (40.0 | ) |  | (4.8 | ) |  | (0.7 | ) |  | (10.3 | ) |  | — |
Income (loss) before income taxes |  | $ | 436.4 |  |  | $ | — |  |  | $ | 165.2 |  |  | $ | 116.2 |  |  | $ | 83.8 |  |  | $ | 106.1 |  |  | $ | (34.9 | )
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 271.2 |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income (loss) |  | $ | 91.9 |  |  | $ | — |  |  | $ | 112.7 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | (20.9 | )
Depreciation and amortization |  | $ | 99.3 |  |  | $ | (0.1 | ) |  | $ | 45.0 |  |  | $ | 27.6 |  |  | $ | 8.8 |  |  | $ | 17.7 |  |  | $ | 0.3 |
Capital expenditures (including the effects of accruals) |  | $ | 126.2 |  |  | $ | — |  |  | $ | 27.2 |  |  | $ | 21.5 |  |  | $ | 20.8 |  |  | $ | 56.5 |  |  | $ | 0.2 |
Three Months Ended March 31, 2016 (d) |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (b)
Revenues |  | $ | 1,972.1 |  |  | $ | (56.5 | ) | (c) | $ | 827.5 |  |  | $ | 578.7 |  |  | $ | 298.8 |  |  | $ | 322.0 |  |  | $ | 1.6 |
Cost of sales |  | $ | 776.9 |  |  | $ | (55.8 | ) | (c) | $ | 298.2 |  |  | $ | 271.0 |  |  | $ | 189.7 |  |  | $ | 137.5 |  |  | $ | (63.7 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 615.4 |  |  | $ | — |  |  | $ | 250.4 |  |  | $ | 111.5 |  |  | $ | 77.8 |  |  | $ | 114.5 |  |  | $ | 61.2 |
Interest expense |  | (57.3 | ) |  | — |  |  | (40.8 | ) |  | (6.5 | ) |  | (0.5 | ) |  | (9.3 | ) |  | (0.2 | )
Income before income taxes |  | $ | 558.1 |  |  | $ | — |  |  | $ | 209.6 |  |  | $ | 105.0 |  |  | $ | 77.3 |  |  | $ | 105.2 |  |  | $ | 61.0 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 295.4 |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income |  | $ | 174.8 |  |  | $ | — |  |  | $ | 146.0 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 28.7 |
Depreciation and amortization |  | $ | 100.7 |  |  | $ | (0.1 | ) |  | $ | 47.4 |  |  | $ | 28.3 |  |  | $ | 7.7 |  |  | $ | 17.0 |  |  | $ | 0.4 |
Capital expenditures (including the effects of accruals) |  | $ | 114.5 |  |  | $ | — |  |  | $ | 27.8 |  |  | $ | 22.3 |  |  | $ | 16.3 |  |  | $ | 48.1 |  |  | $ | — |
Six Months Ended March 31, 2017 |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (b)
Revenues |  | $ | 3,853.3 |  |  | $ | (164.3 | ) | (c) | $ | 1,540.8 |  |  | $ | 1,159.8 |  |  | $ | 693.5 |  |  | $ | 621.4 |  |  | $ | 2.1 |
Cost of sales |  | $ | 1,718.6 |  |  | $ | (162.6 | ) | (c) | $ | 616.5 |  |  | $ | 571.1 |  |  | $ | 501.6 |  |  | $ | 274.0 |  |  | $ | (82.0 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 979.4 |  |  | $ | 0.1 |  |  | $ | 369.2 |  |  | $ | 209.9 |  |  | $ | 131.8 |  |  | $ | 198.6 |  |  | $ | 69.8 |
Income (loss) from equity investees |  | 2.1 |  |  | — |  |  | — |  |  | (0.3 | ) |  | 2.4 |  |  | — |  |  | — |
Gains (losses) on foreign currency contracts, net |  | 0.1 |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | (0.1 | )
Loss on extinguishments of debt |  | (55.3 | ) |  | — |  |  | (55.3 | ) |  | — |  |  | — |  |  | — |  |  | — |
Interest expense |  | (111.2 | ) |  | — |  |  | (80.0 | ) |  | (9.6 | ) |  | (1.3 | ) |  | (20.3 | ) |  | — |
Income before income taxes |  | $ | 815.1 |  |  | $ | 0.1 |  |  | $ | 233.9 |  |  | $ | 200.2 |  |  | $ | 132.9 |  |  | $ | 178.3 |  |  | $ | 69.7 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 456.3 |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income (loss) |  | $ | 152.1 |  |  | $ | — |  |  | $ | 153.9 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | — |  |  | $ | (2.1 | )
Depreciation and amortization |  | $ | 197.4 |  |  | $ | (0.1 | ) |  | $ | 89.6 |  |  | $ | 55.5 |  |  | $ | 16.8 |  |  | $ | 35.1 |  |  | $ | 0.5 |
Capital expenditures (including the effects of accruals) |  | $ | 299.8 |  |  | $ | — |  |  | $ | 53.6 |  |  | $ | 43.0 |  |  | $ | 82.3 |  |  | $ | 120.6 |  |  | $ | 0.3 |
As of March 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 11,385.5 |  |  | $ | (58.6 | ) |  | $ | 4,238.1 |  |  | $ | 2,804.7 |  |  | $ | 1,200.7 |  |  | $ | 2,909.7 |  |  | $ | 290.9 |
Short-term borrowings |  | $ | 50.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.6 |  |  | $ | — |  |  | $ | 48.5 |  |  | $ | — |
Goodwill |  | $ | 2,948.4 |  |  | $ | — |  |  | $ | 1,981.2 |  |  | $ | 773.6 |  |  | $ | 11.5 |  |  | $ | 182.1 |  |  | $ | — |
Six Months Ended March 31, 2016 (d) |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (b)
Revenues |  | $ | 3,578.7 |  |  | $ | (99.2 | ) | (c) | $ | 1,471.6 |  |  | $ | 1,156.9 |  |  | $ | 525.7 |  |  | $ | 520.0 |  |  | $ | 3.7 |
Cost of sales |  | $ | 1,510.9 |  |  | $ | (97.6 | ) | (c) | $ | 541.4 |  |  | $ | 573.8 |  |  | $ | 344.2 |  |  | $ | 212.9 |  |  | $ | (63.8 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 920.9 |  |  | $ | 0.1 |  |  | $ | 380.0 |  |  | $ | 196.6 |  |  | $ | 120.7 |  |  | $ | 162.8 |  |  | $ | 60.7 |
Loss from equity investees |  | (0.1 | ) |  | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | — |  |  | — |
Interest expense |  | (115.2 | ) |  | — |  |  | (81.8 | ) |  | (13.0 | ) |  | (1.3 | ) |  | (18.8 | ) |  | (0.3 | )
Income before income taxes |  | $ | 805.6 |  |  | $ | 0.1 |  |  | $ | 298.2 |  |  | $ | 183.5 |  |  | $ | 119.4 |  |  | $ | 144.0 |  |  | $ | 60.4 |
Partnership EBITDA (a) |  |  |  |  |  | $ | 473.1 |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income |  | $ | 228.1 |  |  | $ | — |  |  | $ | 203.3 |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 24.6 |
Depreciation and amortization |  | $ | 201.3 |  |  | $ | (0.1 | ) |  | $ | 96.6 |  |  | $ | 55.5 |  |  | $ | 15.1 |  |  | $ | 33.7 |  |  | $ | 0.5 |
Capital expenditures (including the effects of accruals) |  | $ | 247.4 |  |  | $ | — |  |  | $ | 55.8 |  |  | $ | 43.3 |  |  | $ | 38.7 |  |  | $ | 109.6 |  |  | $ | — |
As of March 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 10,925.8 |  |  | $ | (87.5 | ) |  | $ | 4,181.6 |  |  | $ | 3,066.2 |  |  | $ | 1,000.2 |  |  | $ | 2,639.5 |  |  | $ | 125.8 |
Short-term borrowings |  | $ | 227.1 |  |  | $ | — |  |  | $ | 65.3 |  |  | $ | 2.8 |  |  | $ | 4.0 |  |  | $ | 155.0 |  |  | $ | — |
Goodwill |  | $ | 2,998.6 |  |  | $ | — |  |  | $ | 1,971.3 |  |  | $ | 833.7 |  |  | $ | 11.5 |  |  | $ | 182.1 |  |  | $ | — |
(a) | The following table provides a reconciliation of Partnership Adjusted EBITDA to AmeriGas Propane income before income taxes:
|  | Three Months Ended March 31, |  | Six Months Ended March 31,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Partnership Adjusted EBITDA |  | $ | 271.2 |  |  | $ | 295.4 |  |  | $ | 456.3 |  |  | $ | 473.1 |
Depreciation and amortization |  | (45.0 | ) |  | (47.4 | ) |  | (89.6 | ) |  | (96.6 | )
Interest expense |  | (40.0 | ) |  | (40.8 | ) |  | (80.0 | ) |  | (81.8 | )
Loss on extinguishments of debt |  | (22.1 | ) |  | — |  |  | (55.3 | ) |  | — |
Noncontrolling interest (i) |  | 1.1 |  |  | 2.4 |  |  | 2.5 |  |  | 3.5 |
Income before income taxes |  | $ | 165.2 |  |  | $ | 209.6 |  |  | $ | 233.9 |  |  | $ | 298.2 |
(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 UGI’s corporate headquarters facility, and (2) UGI’s unallocated corporate and general expenses and interest income. Corporate & Other results also include the effects of net pre-tax (losses) gains on commodity and certain foreign currency derivative instruments not associated with current-period transactions (including such amounts attributable to noncontrolling interests) totaling $(23.9) and $64.0 during the three months ended March 31, 2017 and 2016, respectively, and $81.6 and $65.1 during the six months ended March 31, 2017 and 2016, respectively. Corporate & Other results for the three and six months ended March 31, 2017, also include a pre-tax loss of $7.0 associated with the impairment of a cost basis investment (see Note 2). Corporate & Other assets principally comprise cash and cash equivalents 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) | Restated to reflect (1) the current-year changes in the presentation of our UGI International and Midstream & Marketing reportable segments and (2) the adoption of new accounting guidance related to debt issuance costs (see Note 2).
Reconciliation of Adjusted EBITDA to (Loss) Income Before Income Taxes | The following table provides a reconciliation of Partnership Adjusted EBITDA to AmeriGas Propane income before income taxes:
|  | Three Months Ended March 31, |  | Six Months Ended March 31,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Partnership Adjusted EBITDA |  | $ | 271.2 |  |  | $ | 295.4 |  |  | $ | 456.3 |  |  | $ | 473.1 |
Depreciation and amortization |  | (45.0 | ) |  | (47.4 | ) |  | (89.6 | ) |  | (96.6 | )
Interest expense |  | (40.0 | ) |  | (40.8 | ) |  | (80.0 | ) |  | (81.8 | )
Loss on extinguishments of debt |  | (22.1 | ) |  | — |  |  | (55.3 | ) |  | — |
Noncontrolling interest (i) |  | 1.1 |  |  | 2.4 |  |  | 2.5 |  |  | 3.5 |
Income before income taxes |  | $ | 165.2 |  |  | $ | 209.6 |  |  | $ | 233.9 |  |  | $ | 298.2 |
(i) | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.

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