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v3.20.2

Debt (Tables) | 12 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Short-term Debt | Information about the Company’s principal credit agreements (excluding the Energy Services Receivables Facility, which is discussed below) as of September 30, 2020 and 2019, is presented in the following table. Borrowings on these credit agreements bear interest at rates indexed to short-term market rates. Borrowings outstanding under these agreements (other than the UGI Corporation Senior Credit Facility) are classified as “Short-term borrowings” on the Consolidated Balance Sheets.
|  | Expiration Date |  | Total Capacity |  | Borrowings Outstanding |  | Letters of Credit and Guarantees Outstanding |  | Available Borrowing Capacity |  | Weighted Average Interest Rate - End of Year
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
AmeriGas OLP (a) |  | December 2022 |  | $ | 600 |  |  | $ | 186 |  |  | $ | 62 |  |  | $ | 352 |  |  | 2.61 | %
UGI International, LLC (b) |  | October 2023 |  | € | 300 |  |  | € | — |  |  | € | — |  |  | € | 300 |  |  | N.A.
Energy Services (c) |  | March 2025 |  | $ | 260 |  |  | $ | — |  |  | $ | — |  |  | $ | 260 |  |  | N.A.
UGI Utilities (d) |  | June 2024 |  | $ | 350 |  |  | $ | 141 |  |  | $ | — |  |  | $ | 209 |  |  | 1.12 | %
UGI Corporation (e) |  | August 2024 |  | $ | 300 |  |  | $ | 300 |  |  | $ | — |  |  | $ | — |  |  | 2.41 | %
September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
AmeriGas OLP (a) |  | December 2022 |  | $ | 600 |  |  | $ | 328 |  |  | $ | 63 |  |  | $ | 209 |  |  | 4.50 | %
UGI International, LLC (b) |  | October 2023 |  | € | 300 |  |  | € | 193 |  |  | € | — |  |  | € | 107 |  |  | 3.64 | %
Energy Services (c) |  | March 2021 |  | $ | 200 |  |  | $ | 45 |  |  | $ | — |  |  | $ | 155 |  |  | 6.25 | %
UGI Utilities (d) |  | June 2024 |  | $ | 350 |  |  | $ | 166 |  |  | $ | — |  |  | $ | 184 |  |  | 3.00 | %
UGI Corporation (e) |  | August 2024 |  | $ | 300 |  |  | $ | 300 |  |  | $ | — |  |  | $ | — |  |  | 4.55 | %
(a)The AmeriGas OLP Credit Agreement includes a $150 sublimit for letters of credit (b)The UGI International Credit Facilities Agreement permits UGI International, LLC to borrow in euros or dollars. UGI International repaid all borrowings outstanding on this facility in September 2020. At September 30, 2019, the amount outstanding consisted of USD-denominated borrowings of $210. (c)The Energy Services 2020 Credit Agreement includes a $50 sublimit for letters of credit and is guaranteed by certain subsidiaries of Energy Services. This credit agreement is collateralized by substantially all of the assets of Energy Services, subject to certain exceptions and carveouts including, but not limited to, accounts receivables and certain real property. (d)UGI Utilities Credit Agreement includes a $100 sublimit for letters of credit. (e)At September 30, 2020 and 2019, management intended to maintain a substantial portion of amounts outstanding under the UGI Corporation Senior Credit Facility beyond twelve months from the respective balance sheet dates. As such, borrowings outstanding are classified as “Long-term debt” on the Consolidated Balance Sheets. In October 2020, the Company repaid $30 of such borrowings and classified these repayments as “Current maturities of long-term debt” on the 2020 Consolidated Balance Sheet. The UGI Corporation Senior Credit Facility includes a $10 sublimit for letters of credit.
Schedule of Receivables Facility | Information regarding the amounts of trade receivables transferred to ESFC and the amounts sold to the bank are as follows:
|  | 2020 |  | 2019 |  | 2018
Trade receivables transferred to ESFC during the year |  | $ | 1,046 |  |  | $ | 1,373 |  |  | $ | 1,280 |
ESFC trade receivables sold to the bank during the year |  | $ | 182 |  |  | $ | 179 |  |  | $ | 193 |
ESFC trade receivables - end of year (a) |  | $ | 50 |  |  | $ | 55 |  |  | $ | 65 |
(a)At September 30, 2020 and 2019, the amounts of ESFC trade receivables sold to the bank were $19 and $46, respectively, and are reflected as “Short-term borrowings” on the Consolidated Balance Sheets.
Schedule of Long-term Debt Instruments | Long-term debt comprises the following at September 30:
| 2020 |  | 2019
AmeriGas Propane: |  |  |
AmeriGas Partners Senior Notes: |  |  |
5.50% due May 2025 | $ | 700 |  |  | $ | 700 |
5.875% due August 2026 | 675 |  |  | 675 |
5.625% due May 2024 | 675 |  |  | 675 |
5.75% due May 2027 | 525 |  |  | 525 |
Other (a) | 5 |  |  | 14 |
Unamortized debt issuance costs | (20) |  |  | (24) |
Total AmeriGas Propane | 2,560 |  |  | 2,565 |
UGI International: |  |  |
3.25% Senior Notes due November 2025 | 410 |  |  | 382 |
UGI International, LLC variable-rate term loan due October 2023 (b) | 352 |  |  | 327 |
Other | 23 |  |  | 18 |
Unamortized debt issuance costs | (7) |  |  | (8) |
Total UGI International | 778 |  |  | 719 |
Midstream & Marketing: |  |  |
Energy Services variable-rate term loan due through August 2026 (c) | 691 |  |  | 698 |
Other (d) | 41 |  |  | 1 |
Unamortized discount and debt issuance costs | (12) |  |  | (12) |
Total Energy Services | 720 |  |  | 687 |
UGI Utilities: |  |  |
Senior Notes: |  |  |
4.12%, due September 2046 | 200 |  |  | 200 |
4.98%, due March 2044 | 175 |  |  | 175 |
3.12% due April 2050 | 150 |  |  | — |
4.55%, due February 2049 | 150 |  |  | 150 |
4.12%, due October 2046 | 100 |  |  | 100 |
6.21%, due September 2036 | 100 |  |  | 100 |
2.95%, due June 2026 | 100 |  |  | 100 |
Medium-Term Notes: |  |  |
6.13%, due October 2034 | 20 |  |  | 20 |
6.50%, due August 2033 | 20 |  |  | 20 |
Variable-rate term loan due through October 2022 (e) | 108 |  |  | 114 |
Other | 3 |  |  | 5 |
Unamortized debt issuance costs | (5) |  |  | (5) |
Total UGI Utilities | 1,121 |  |  | 979 |
UGI Corporation: |  |  |
UGI Corporation revolving credit facility maturing August 2024 (f) | 300 |  |  | 300 |
UGI Corporation variable-rate term loan due August 2022 (g) | 300 |  |  | 300 |
UGI Corporation variable-rate term loan due through August 2024 (h) | 250 |  |  | 250 |
Unamortized debt issuance costs | (3) |  |  | (4) |
Total UGI Corporation | 847 |  |  | 846 |
Other | 8 |  |  | 8 |
Total long-term debt | 6,034 |  |  | 5,804 |
Less: current maturities | (53) |  |  | (24) |
Total long-term debt due after one year | $ | 5,981 |  |  | $ | 5,780 |
(a)At September 30, 2019, such amount includes Heritage Operating, L.P. Senior Secured Notes. The effective interest rate on the Heritage Operating, L.P. Senior Secured Notes was 6.75%. These notes were collateralized by AmeriGas OLP’s receivables, contracts, equipment, inventory, general intangibles and cash. (b)The effective interest rate on the term loan was 2.04% at both September 30, 2020 and 2019. We have entered into pay fixed, receive variable interest rate swaps to effectively fix the underlying variable rate on these borrowings. (c)At September 30, 2020 and 2019, the effective interest rates on the term loan were 5.30% and 5.79%, respectively. This term loan is collateralized by substantially all of the assets of Energy Services, subject to certain exceptions and carveouts including, but not limited to, accounts receivable and certain real property. We have entered into a pay-fixed, receive variable interest rate swap to effectively fix the underlying variable rate on these borrowings. Term loan borrowings are due in equal quarterly installments of $2, with the balance of the principal being due in full at maturity. Under certain circumstances, Energy Services is required to make additional principal payments if the consolidated total leverage ratio, as defined, is greater than defined thresholds. (d)Amounts include finance lease liabilities recognized as a result of the adoption of ASU No. 2016-02. For additional information, see Note 2 and Note 16 to the Consolidated Financial Statements. (e)At September 30, 2020 and 2019, the effective interest rates on this term loan were 4.00% and 3.05%, respectively. We have entered into a pay-fixed, receive variable interest rate swap to effectively fix the underlying variable rate on these borrowings. Term loan borrowings are due in equal quarterly installments of $2, with the balance of the principal being due in full at maturity. (f)At September 30, 2020 and 2019, the effective interest rates on credit facility borrowings were 2.41% and 4.55%, respectively. We have entered into pay-fixed, receive variable interest rate swaps to effectively fix the underlying variable rate on a portion of these borrowings. (g)At September 30, 2020 and 2019, the effective interest rate on this term loan 3.51% and 4.30%, respectively. We have entered into pay-fixed, receive variable interest rate swaps to effectively fix the underlying variable rate on these borrowings. (h)At September 30, 2020 and 2019, the effective interest rates on this term loan were 3.50% and 4.55%, respectively. We have entered into pay-fixed, receive variable interest rate swaps to effectively fix the underlying variable rate on a portion of these borrowings. Term loan borrowings are due in equal quarterly installments of $9, commencing December 2022, with the balance of the principal being due in full at maturity.
Schedule of Maturities of Long-term Debt | Scheduled principal repayments of long-term debt for each of the next five fiscal years ending September 30 are as follows:
| 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025
AmeriGas Propane | $ | 3 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 675 |  |  | $ | 700 |
UGI International | 1 |  |  | 22 |  |  | — |  |  | 352 |  |  | — |
Midstream & Marketing | 10 |  |  | 7 |  |  | 7 |  |  | 7 |  |  | 7 |
UGI Utilities | 8 |  |  | 7 |  |  | 96 |  |  | — |  |  | — |
UGI Corporation (a) | 30 |  |  | 300 |  |  | 38 |  |  | 482 |  |  | — |
Other | 1 |  |  | 1 |  |  | 6 |  |  | — |  |  | — |
Total | $ | 53 |  |  | $ | 339 |  |  | $ | 147 |  |  | $ | 1,516 |  |  | $ | 707 |
(a)In October 2020, the Company repaid $30 of such borrowings and has classified these repayments as “Current maturities of long-term debt” on the 2020 Consolidated Balance Sheet.

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