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Segment Information | 3 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Information | Note 15 — Segment Information Our operations comprise four reportable segments generally based upon products or services sold, geographic location and regulatory environment: (1) AmeriGas Propane; (2) UGI International; (3) Midstream & Marketing; and (4) UGI Utilities. Corporate & Other principally comprise (1) net expenses of UGI’s captive general liability insurance company and UGI’s corporate headquarters facility, and UGI’s unallocated corporate and general expenses and interest income. In addition, Corporate & Other includes net gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions (including such amounts attributable to noncontrolling interests) because such items are excluded from profit measures evaluated by our chief operating decision maker (“CODM”) in assessing our reportable segments’ performance or allocating resources. Corporate & Other assets principally comprise cash and cash equivalents of UGI and its captive insurance company, and UGI corporate headquarters’ assets. 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 2017 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. Our CODM evaluates the performance of our other reportable segments principally based upon their income before income taxes excluding gains and losses on commodity and certain foreign currency derivative instruments not associated with current-period transactions, as previously mentioned.
Three Months Ended December 31, 2017 |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (b)
Revenues |  | $ | 2,125.2 |  |  | $ | — |  |  | $ | 787.3 |  |  | $ | 784.2 |  |  | $ | 249.8 |  |  | $ | 305.4 |  |  | $ | (1.5 | )
Intersegment revenues |  | $ | — |  |  | $ | (97.1 | ) | (c) | $ | — |  |  | $ | — |  |  | $ | 78.2 |  |  | $ | 17.7 |  |  | $ | 1.2 |
Cost of sales |  | $ | 1,137.4 |  |  | $ | (96.0 | ) | (c) | $ | 366.1 |  |  | $ | 484.8 |  |  | $ | 239.0 |  |  | $ | 151.8 |  |  | $ | (8.3 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 391.8 |  |  | $ | 0.2 |  |  | $ | 147.9 |  |  | $ | 93.1 |  |  | $ | 52.3 |  |  | $ | 96.3 |  |  | $ | 2.0 |
Income (loss) from equity investees |  | 1.0 |  |  | — |  |  | — |  |  | (0.2 | ) |  | 1.2 |  | (d) | — |  |  | — |
Losses on foreign currency contracts, net |  | (4.8 | ) |  | — |  |  | — |  |  | (4.7 | ) |  | — |  |  | — |  |  | (0.1 | )
Interest expense |  | (58.2 | ) |  | — |  |  | (40.6 | ) |  | (5.6 | ) |  | (0.9 | ) |  | (10.9 | ) |  | (0.2 | )
Income before income taxes |  | $ | 329.8 |  |  | $ | 0.2 |  |  | $ | 107.3 |  |  | $ | 82.6 |  |  | $ | 52.6 |  |  | $ | 85.4 |  |  | $ | 1.7 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 194.1 |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income (loss) |  | $ | 68.3 |  |  | $ | — |  |  | $ | 68.0 |  |  | $ | (0.3 | ) |  | $ | — |  |  | $ | — |  |  | $ | 0.6 |
Depreciation and amortization |  | $ | 110.3 |  |  | $ | — |  |  | $ | 47.4 |  |  | $ | 32.2 |  |  | $ | 10.1 |  |  | $ | 20.4 |  |  | $ | 0.2 |
Capital expenditures (including the effects of accruals) |  | $ | 128.5 |  |  | $ | — |  |  | $ | 23.6 |  |  | $ | 21.7 |  |  | $ | 11.3 |  |  | $ | 71.7 |  |  | $ | 0.2 |
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 12,343.9 |  |  | $ | (62.6 | ) |  | $ | 4,206.2 |  |  | $ | 3,450.1 |  |  | $ | 1,325.1 |  |  | $ | 3,174.7 |  |  | $ | 250.4 |
Short-term borrowings |  | $ | 586.1 |  |  | $ | — |  |  | $ | 263.5 |  |  | $ | 41.1 |  |  | $ | 100.0 |  |  | $ | 181.5 |  |  | $ | — |
Goodwill |  | $ | 3,185.5 |  |  | $ | — |  |  | $ | 2,001.3 |  |  | $ | 990.6 |  |  | $ | 11.5 |  |  | $ | 182.1 |  |  | $ | — |
Three Months Ended December 31, 2016 |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (b)
Revenues |  | $ | 1,679.5 |  |  | $ | — |  |  | $ | 677.2 |  |  | $ | 539.1 |  |  | $ | 209.6 |  |  | $ | 253.9 |  |  | $ | (0.3 | )
Intersegment revenues |  | $ | — |  |  | $ | (68.5 | ) | (c) | $ | — |  |  | $ | — |  |  | $ | 60.2 |  |  | $ | 7.5 |  |  | $ | 0.8 |
Cost of sales |  | $ | 647.4 |  |  | $ | (67.7 | ) | (c) | $ | 260.7 |  |  | $ | 258.0 |  |  | $ | 191.8 |  |  | $ | 109.5 |  |  | $ | (104.9 | )
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating income |  | $ | 466.2 |  |  | $ | 0.1 |  |  | $ | 141.9 |  |  | $ | 88.9 |  |  | $ | 49.7 |  |  | $ | 82.2 |  |  | $ | 103.4 |
Loss from equity investees |  | (0.2 | ) |  | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | — |  |  | — |
Gains on foreign currency contracts, net |  | 1.3 |  |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 1.2 |
Loss on extinguishments of debt |  | (33.2 | ) |  | — |  |  | (33.2 | ) |  | — |  |  | — |  |  | — |  |  | — |
Interest expense |  | (55.4 | ) |  | — |  |  | (40.0 | ) |  | (4.8 | ) |  | (0.6 | ) |  | (10.0 | ) |  | — |
Income before income taxes |  | $ | 378.7 |  |  | $ | 0.1 |  |  | $ | 68.7 |  |  | $ | 84.0 |  |  | $ | 49.1 |  |  | $ | 72.2 |  |  | $ | 104.6 |
Partnership Adjusted EBITDA (a) |  |  |  |  |  | $ | 185.1 |  |  |  |  |  |  |  |  |
Noncontrolling interests’ net income |  | $ | 60.2 |  |  | $ | — |  |  | $ | 41.2 |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 18.8 |
Depreciation and amortization |  | $ | 98.1 |  |  | $ | — |  |  | $ | 44.6 |  |  | $ | 27.9 |  |  | $ | 8.0 |  |  | $ | 17.4 |  |  | $ | 0.2 |
Capital expenditures (including the effects of accruals) |  | $ | 173.6 |  |  | $ | — |  |  | $ | 26.4 |  |  | $ | 21.5 |  |  | $ | 61.5 |  |  | $ | 64.1 |  |  | $ | 0.1 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 11,300.5 |  |  | $ | (107.9 | ) |  | $ | 4,217.9 |  |  | $ | 2,853.4 |  |  | $ | 1,178.4 |  |  | $ | 2,898.5 |  |  | $ | 260.2 |
Short-term borrowings |  | $ | 234.4 |  |  | $ | — |  |  | $ | 77.5 |  |  | $ | 3.5 |  |  | $ | 55.0 |  |  | $ | 98.4 |  |  | $ | — |
Goodwill |  | $ | 2,935.8 |  |  | $ | — |  |  | $ | 1,978.5 |  |  | $ | 763.7 |  |  | $ | 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 December 31,
|  |  | 2017 |  | 2016
Partnership Adjusted EBITDA |  |  | $ | 194.1 |  |  | $ | 185.1 |
Depreciation and amortization |  |  | (47.4 | ) |  | (44.6 | )
Interest expense |  |  | (40.6 | ) |  | (40.0 | )
Loss on extinguishments of debt |  |  | — |  |  | (33.2 | )
Noncontrolling interest (i) |  |  | 1.2 |  |  | 1.4 |
Income before income taxes |  |  | $ | 107.3 |  |  | $ | 68.7 |
(i) | Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.
(b) | Includes net pre-tax gains on commodity and certain foreign currency derivative instruments not associated with current-period transactions (including such amounts attributable to noncontrolling interests) totaling $6.6 and $105.5 during the three months ended December 31, 2017 and 2016, respectively.
(c) | Represents the elimination of intersegment transactions principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.
(d) | Represents allowance for funds used during construction (“AFUDC”) associated with our PennEast Pipeline equity investment.

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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