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Common Stock and Equity-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2019
Share-based Payment Arrangement [Abstract] |
Common Stock Share Activity | UGI Common Stock share activity for Fiscal 2017, Fiscal 2018 and Fiscal 2019 follows:
| Issued |  | Treasury |  | Outstanding
Balance at September 30, 2016 | 173,894,141 |  |  | (933,692 | ) |  | 172,960,449 |
Issued: |  |  |  |  |
Employee and director plans | 93,550 |  |  | 1,051,704 |  |  | 1,145,254 |
Sale of reacquired common stock |  |  | 50,000 |  |  | 50,000 |
Repurchases of common stock | — |  |  | (900,000 | ) |  | (900,000 | )
Reacquired common stock – employee and director plans | — |  |  | (111,966 | ) |  | (111,966 | )
Balance at September 30, 2017 | 173,987,691 |  |  | (843,954 | ) |  | 173,143,737 |
Issued: |  |  |  |  |
Employee and director plans | 155,306 |  |  | 1,804,712 |  |  | 1,960,018 |
Repurchases of common stock | — |  |  | (1,200,000 | ) |  | (1,200,000 | )
Reacquired common stock – employee and director plans | — |  |  | (154,780 | ) |  | (154,780 | )
Balance at September 30, 2018 | 174,142,997 |  |  | (394,022 | ) |  | 173,748,975 |
Issued: |  |  |  |  |
Employee and director plans | 548,285 |  |  | 430,847 |  |  | 979,132 |
AmeriGas Merger | 34,612,847 |  |  | — |  |  | 34,612,847 |
Sale of reacquired common stock | — |  |  | 15,759 |  |  | 15,759 |
Repurchases of common stock | — |  |  | (300,000 | ) |  | (300,000 | )
Reacquired common stock – employee and director plans | — |  |  | (51,924 | ) |  | (51,924 | )
Balance at September 30, 2019 | 209,304,129 |  |  | (299,340 | ) |  | 209,004,789 |
Stock Option Awards | Stock option transactions under equity-based compensation plans during Fiscal 2017, Fiscal 2018 and Fiscal 2019 follow:
| Shares |  | Weighted - Average Option Price |  | Total Intrinsic Value |  | Weighted - Average Contract Term (Years)
Shares under option — September 30, 2016 | 8,488,451 |  |  | $ | 26.68 |  |  | $ | 157.6 |  |  | 6.6
Granted | 1,343,800 |  |  | $ | 46.51 |  |  |  |  |
Canceled | (60,236 | ) |  | $ | 41.86 |  |  |  |  |
Exercised | (990,267 | ) |  | $ | 21.40 |  |  | $ | 26.7 |  |  |
Shares under option — September 30, 2017 | 8,781,748 |  |  | $ | 30.20 |  |  | $ | 146.7 |  |  | 6.3
Granted | 1,401,400 |  |  | $ | 47.85 |  |  |  |  |
Canceled | (152,017 | ) |  | $ | 42.14 |  |  |  |  |
Expired | (1,666 | ) |  | $ | 35.80 |  |  |  |  |
Exercised | (1,832,396 | ) |  | $ | 26.00 |  |  | $ | 44.5 |  |  |
Shares under option — September 30, 2018 | 8,197,069 |  |  | $ | 33.93 |  |  | $ | 176.6 |  |  | 6.2
Granted | 1,197,100 |  |  | $ | 53.27 |  |  |  |  |
Canceled | (123,012 | ) |  | $ | 48.69 |  |  |  |  |
Expired | (13,699 | ) |  | $ | 47.49 |  |  |  |  |
Exercised | (779,353 | ) |  | $ | 25.75 |  |  | $ | 22.8 |  |  |
Shares under option — September 30, 2019 | 8,478,105 |  |  | $ | 37.18 |  |  | $ | 114.9 |  |  | 5.9
Options exercisable — September 30, 2017 | 5,973,668 |  |  | $ | 25.53 |  |  |  |  |
Options exercisable — September 30, 2018 | 5,498,330 |  |  | $ | 28.63 |  |  |  |  |
Options exercisable — September 30, 2019 | 5,963,530 |  |  | $ | 32.02 |  |  | $ | 109.3 |  |  | 4.9
Options not exercisable — September 30, 2019 | 2,514,575 |  |  | $ | 49.43 |  |  | $ | 5.6 |  |  | 7.4
Additional Information Relating to Stock Options Outstanding and Exercisable | The following table presents additional information relating to stock options outstanding and exercisable at September 30, 2019:
| Range of exercise prices
| Under $30.00 |  | $30.00 – $35.00 |  | $35.01 – $40.00 |  | $40.01 – $45.00 |  | Over $45.00
Options outstanding at September 30, 2019: |  |  |  |  |  |  |  |  |
Number of options | 2,879,501 |  |  | 1,094,763 |  |  | 870,115 |  |  | 81,593 |  |  | 3,552,133 |
Weighted average remaining contractual life (in years) | 3.1 |  |  | 6.1 |  |  | 5.3 |  |  | 7.1 |  |  | 8.3 |
Weighted average exercise price | $ | 23.24 |  |  | $ | 33.66 |  |  | $ | 37.81 |  |  | $ | 44.42 |  |  | $ | 49.25 |
Options exercisable at September 30, 2019: |  |  |  |  |  |  |  |  |
Number of options | 2,879,501 |  |  | 995,313 |  |  | 870,115 |  |  | 76,593 |  |  | 1,142,008 |
Weighted average exercise price | $ | 23.24 |  |  | $ | 33.65 |  |  | $ | 37.81 |  |  | $ | 44.48 |  |  | $ | 47.48 |
Assumptions Used for Valuing Option Grants | The assumptions we used for valuing option grants during Fiscal 2019, Fiscal 2018 and Fiscal 2017 are as follows:
| 2019 |  | 2018 |  | 2017
Expected life of option | 6 years |  | 6 years |  | 5.75 years
Weighted average volatility | 17.2% |  | 17.5% |  | 19.8%
Weighted average dividend yield | 1.8% |  | 2.1% |  | 2.1%
Expected volatility | 17.2% |  | 17.5% |  | 19.8%
Expected dividend yield | 1.8% |  | 2.1% |  | 2.1%
Risk free rate | 1.5% – 2.6% |  | 2.2% – 2.9% |  | 1.8% – 2.1%
Weighted Average Assumptions Used to Determine the Fair Value of UGI Performance Unit Awards and Related Compensation Costs | The following table summarizes the weighted-average assumptions used to determine the fair value of UGI Performance Unit awards and related compensation costs:
| Grants Awarded in Fiscal Year
| 2019 |  | 2018 |  | 2017
Risk free rate | 2.5% |  | 2.0% |  | 1.5%
Expected life | 3 years |  | 3 years |  | 3 years
Expected volatility | 17.7% |  | 18.9% |  | 18.9%
Dividend yield | 1.9% |  | 2.1% |  | 2.1%
UGI Performance Unit Award Activity | The following table summarizes UGI Unit award activity for Fiscal 2019:
| UGI Units |  | Weighted-Average Grant-Date Fair Value (per Unit)
Total UGI Units at September 30, 2018 (a) | 959,718 |  |  | $ | 32.38 |
UGI Performance Units: |  |  |
Granted | 128,910 |  |  | $ | 55.40 |
Forfeited | (13,102 | ) |  | $ | 53.29 |
Unit awards paid | (144,521 | ) |  | $ | 34.62 |
UGI Stock Units: |  |  |
Granted (b) | 29,784 |  |  | $ | 55.39 |
Forfeited | (4,900 | ) |  | $ | 51.22 |
Unit awards paid | (62,069 | ) |  | $ | 25.12 |
Total UGI Units at September 30, 2019 (a) | 893,820 |  |  | $ | 36.39 |
(a) | Total UGI Units includes UGI Stock Units issued to non-employee directors, which vest on the grant date, and UGI Performance Units and UGI Stock Units issued to retirement-eligible employees that vest on an accelerated basis. Total vested restricted units at September 30, 2019 and September 30, 2018 were 616,319 and 660,795, respectively.
(b) Generally, shares granted under UGI Stock Unit awards are paid approximately 70% in shares. UGI Stock Unit awards granted in Fiscal 2018 and Fiscal 2017 were 52,314 and 42,079, respectively.
Schedule of Payment for UGI Performance Unit and UGI Stock Unit Awards in Shares and Cash | During Fiscal 2019, Fiscal 2018 and Fiscal 2017, the Company paid UGI Performance Unit and UGI Stock Unit awards in shares and cash as follows:
| 2019 |  | 2018 |  | 2017
UGI Performance Unit awards: |  |  |  |  |
Number of original awards granted, net of forfeitures | 144,521 |  |  | 136,621 |  |  | 178,450 |
Performance period beginning January 1: | 2016 |  |  | 2015 |  |  | 2014 |
Payment of awards: |  |  |  |  |
Shares of UGI Common Stock issued, net of shares withheld for taxes | 116,950 |  |  | 69,680 |  |  | 138,985 |
Cash paid | $ | 9.9 |  |  | $ | 1.6 |  |  | $ | 10.9 |
UGI Stock Unit awards: |  |  |  |  |
Number of original awards granted, net of forfeitures | 50,985 |  |  | 39,680 |  |  | 43,699 |
Payment of awards: |  |  |  |  |
Shares of UGI Common Stock issued, net of shares withheld for taxes | 43,479 |  |  | 29,095 |  |  | 15,990 |
Cash paid | $ | 1.0 |  |  | $ | 0.6 |  |  | $ | 0.3 |
Weighted Average Assumption Used to Determine the Fair Value of AmeriGas Performance Unit Awards and Related Compensation Costs | The following table summarizes the weighted-average assumptions used to determine the fair value of AmeriGas Performance Unit awards subject to market-based conditions and related compensation costs:
| Grants Awarded in Fiscal Year
| 2019 |  | 2018 |  | 2017
Risk-free rate | 2.5% |  | 2.0% |  | 1.5%
Expected life | 3 years |  | 3 years |  | 3 years
Expected volatility | 22.4% |  | 21.1% |  | 21.7%
Dividend yield | 12.5% |  | 8.2% |  | 7.8%
AmeriGas Common Unit Based Award Activity | The following table summarizes AmeriGas Common Unit-based award activity for Fiscal 2019:
| AmeriGas Partners Common Units |  | Weighted-Average Grant-Date Fair Value (per Unit)
Total Units at September 30, 2018 (a) | 236,762 |  |  | $ | 47.12 |
AmeriGas Performance Units: |  |  |
Granted | 79,980 |  |  | $ | 30.23 |
Forfeited | (42,916 | ) |  | $ | 46.83 |
Awards paid | (17,133 | ) |  | $ | 43.02 |
Performance criteria not met | (29,394 | ) |  | $ | 34.27 |
AmeriGas Stock Units: |  |  |
Granted | 53,118 |  |  | $ | 31.10 |
Forfeited | (800 | ) |  | $ | 45.30 |
Awards paid | (16,056 | ) |  | $ | 40.98 |
Total Units at the date of AmeriGas Merger (a) | 263,561 |  |  | $ | 40.89 |
Units converted to UGI cash-settled restricted units | (263,561 | ) |  | $ | (40.89 | )
Total Units at September 30, 2019 | — |  |  | $ | — |
(a) Total units includes AmeriGas Stock Units issued to non-employee directors, which vested on the grant date, and AmeriGas Performance Units and AmeriGas Stock Units issued to retirement-eligible employees that vest on an accelerated basis. Total vested restricted units at September 30, 2018 were 71,148.
AmeriGas Common Unit Based Awards in Common Units and Cash | During Fiscal 2019, Fiscal 2018 and Fiscal 2017, the Partnership paid AmeriGas Performance Unit and AmeriGas Stock Unit awards in Common Units and cash as follows:
| 2019 |  | 2018 |  | 2017
AmeriGas Performance Unit awards: |  |  |  |  |
Number of Common Units subject to original awards granted, net of forfeitures | 52,495 |  |  | 65,525 |  |  | 53,800 |
Performance periods beginning in fiscal year: | 2016 |  |  | 2015 |  |  | 2014 |
Payment of awards: |  |  |  |  |
AmeriGas Partners Common Units issued, net of units withheld for taxes | 10,902 |  |  | 13,164 |  |  | 29,489 |
Cash paid | $ | 0.8 |  |  | $ | 1.2 |  |  | $ | 2.9 |
AmeriGas Stock Unit awards: |  |  |  |  |
Number of Common Units subject to original awards granted, net of forfeitures | 20,585 |  |  | 14,811 |  |  | 32,658 |
Payment of awards: |  |  |  |  |
AmeriGas Partners Common Units issued, net of units withheld for taxes | 9,706 |  |  | 5,322 |  |  | 3,932 |
Cash paid | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.1 |

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