XML 69 R38.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Segment Information (Tables) | 3 Months Ended
--- | ---
Dec. 31, 2019
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
Three Months Ended December 31, 2019 |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (a)
Revenues from external customers |  | $ | 2,006.6 |  |  | $ | — |  |  | $ | 730.4 |  |  | $ | 651.4 |  |  | $ | 308.3 |  |  | $ | 314.6 |  |  | $ | 1.9 |
Intersegment revenues |  | $ | — |  |  | $ | (79.7 | ) | (b) | $ | — |  |  | $ | — |  |  | $ | 64.2 |  |  | $ | 14.7 |  |  | $ | 0.8 |
Cost of sales |  | $ | 1,008.0 |  |  | $ | (79.1 | ) | (b) | $ | 289.2 |  |  | $ | 368.4 |  |  | $ | 264.2 |  |  | $ | 151.6 |  |  | $ | 13.7 |
Operating income (loss) |  | $ | 377.2 |  |  | $ | 0.3 |  |  | $ | 165.3 |  |  | $ | 95.8 |  | (c) | $ | 55.1 |  |  | $ | 91.8 |  |  | $ | (31.1 | )
Income from equity investees |  | 6.5 |  |  | — |  |  | — |  |  | — |  |  | 6.5 |  | (d) | — |  |  | — |
Other non-operating (expense) income, net |  | (11.5 | ) |  | — |  |  | — |  |  | 4.4 |  |  | — |  |  | (0.2 | ) |  | (15.7 | )
Earnings (loss) before interest expense and income taxes |  | 372.2 |  |  | 0.3 |  |  | 165.3 |  |  | 100.2 |  |  | 61.6 |  |  | 91.6 |  |  | (46.8 | )
Interest expense |  | (84.1 | ) |  | — |  |  | (42.5 | ) |  | (7.6 | ) |  | (11.5 | ) |  | (13.6 | ) |  | (8.9 | )
Income (loss) before income taxes |  | $ | 288.1 |  |  | $ | 0.3 |  |  | $ | 122.8 |  |  | $ | 92.6 |  |  | $ | 50.1 |  |  | $ | 78.0 |  |  | $ | (55.7 | )
Depreciation and amortization |  | $ | 119.4 |  |  | $ | — |  |  | $ | 43.9 |  |  | $ | 31.2 |  |  | $ | 18.4 |  |  | $ | 25.7 |  |  | $ | 0.2 |
Capital expenditures (including the effects of accruals) |  | $ | 151.8 |  |  | $ | — |  |  | $ | 38.5 |  |  | $ | 20.3 |  |  | $ | 22.5 |  |  | $ | 70.5 |  |  | $ | — |
As of December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 14,285.7 |  |  | $ | (365.5 | ) |  | $ | 4,609.4 |  |  | $ | 3,243.3 |  |  | $ | 2,859.6 |  |  | $ | 3,710.9 |  |  | $ | 228.0 |
Short-term borrowings |  | $ | 869.7 |  |  | $ | — |  |  | $ | 321.0 |  |  | $ | 181.3 |  |  | $ | 88.4 |  |  | $ | 279.0 |  |  | $ | — |
Goodwill |  | $ | 3,482.9 |  |  | $ | — |  |  | $ | 2,003.0 |  |  | $ | 956.8 |  |  | $ | 341.0 |  |  | $ | 182.1 |  |  | $ | — |
Three Months Ended December 31, 2018 (e) |  | Total |  | Eliminations |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing |  | UGI Utilities |  | Corporate & Other (a)
Revenues from external customers |  | $ | 2,200.2 |  |  | $ | — |  |  | $ | 820.2 |  |  | $ | 710.7 |  |  | $ | 372.5 |  |  | $ | 299.1 |  |  | $ | (2.3 | )
Intersegment revenues |  | $ | — |  |  | $ | (111.6 | ) | (b) | $ | — |  |  | $ | — |  |  | $ | 86.9 |  |  | $ | 23.6 |  |  | $ | 1.1 |
Cost of sales |  | $ | 1,425.0 |  |  | $ | (110.8 | ) | (b) | $ | 378.5 |  |  | $ | 448.6 |  |  | $ | 377.5 |  |  | $ | 159.5 |  |  | $ | 171.7 |
Operating income (loss) |  | $ | 167.7 |  |  | $ | 0.4 |  |  | $ | 166.6 |  |  | $ | 58.3 |  |  | $ | 41.1 |  |  | $ | 77.0 |  |  | $ | (175.7 | )
Income from equity investees |  | 1.5 |  |  | — |  |  | — |  |  | — |  |  | 1.5 |  | (d) | — |  |  | — |
Loss on extinguishments of debt |  | (6.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6.1 | )
Other non-operating income, net |  | 9.0 |  |  | — |  |  | — |  |  | 0.7 |  |  | — |  |  | 0.4 |  |  | 7.9 |
Earnings (loss) before interest expense and income taxes |  | 172.1 |  |  | 0.4 |  |  | 166.6 |  |  | 59.0 |  |  | 42.6 |  |  | 77.4 |  |  | (173.9 | )
Interest expense |  | (60.2 | ) |  | — |  |  | (42.4 | ) |  | (5.4 | ) |  | (0.5 | ) |  | (11.7 | ) |  | (0.2 | )
Income (loss) before income taxes |  | $ | 111.9 |  |  | $ | 0.4 |  |  | $ | 124.2 |  |  | $ | 53.6 |  |  | $ | 42.1 |  |  | $ | 65.7 |  |  | $ | (174.1 | )
Noncontrolling interests’ net income (loss) |  | $ | 24.3 |  |  | $ | — |  |  | $ | 81.5 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | (57.3 | )
Depreciation and amortization |  | $ | 111.2 |  |  | $ | — |  |  | $ | 45.7 |  |  | $ | 31.4 |  |  | $ | 11.5 |  |  | $ | 22.5 |  |  | $ | 0.1 |
Capital expenditures (including the effects of accruals) |  | $ | 161.8 |  |  | $ | — |  |  | $ | 31.0 |  |  | $ | 27.8 |  |  | $ | 25.1 |  |  | $ | 77.3 |  |  | $ | 0.6 |
As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 12,368.3 |  |  | $ | (144.3 | ) |  | $ | 4,020.6 |  |  | $ | 3,287.5 |  |  | $ | 1,504.9 |  |  | $ | 3,424.8 |  |  | $ | 274.8 |
Short-term borrowings |  | $ | 676.3 |  |  | $ | — |  |  | $ | 368.5 |  |  | $ | 1.8 |  |  | $ | 10.0 |  |  | $ | 296.0 |  |  | $ | — |
Goodwill |  | $ | 3,154.8 |  |  | $ | — |  |  | $ | 2,003.0 |  |  | $ | 951.9 |  |  | $ | 17.8 |  |  | $ | 182.1 |  |  | $ | — |
(a) | Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM in assessing our reportable segments’ performance or allocating resources. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate, for the three months ended December 31, 2019 and 2018:
Three Months Ended December 31, 2019 |  | Location on Income Statement |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing
Net gains (losses) on commodity derivative instruments not associated with current-period transactions |  | Revenues / Cost of sales |  | $ | 9.4 |  |  | $ | (13.5 | ) |  | $ | (7.5 | )
Unrealized losses on foreign currency derivative instruments |  | Other non-operating (expense) income, net |  | $ | — |  |  | $ | (15.7 | ) |  | $ | — |
Acquisition and integration expenses associated with the CMG Acquisition |  | Operating and administrative expenses |  | $ | — |  |  | $ | — |  |  | $ | (0.7 | )
LPG business transformation expenses |  | Operating and administrative expenses |  | $ | (11.2 | ) |  | $ | (5.5 | ) |  | $ | — |
Three Months Ended December 31, 2018 |  | Location on Income Statement |  | AmeriGas Propane |  | UGI International |  | Midstream & Marketing
Net (losses) gains on commodity derivative instruments not associated with current-period transactions |  | Revenues / Cost of sales |  | $ | (78.5 | ) |  | $ | (97.3 | ) |  | $ | 1.8 |
Unrealized gains on foreign currency derivative instruments |  | Other non-operating (expense) income, net |  | $ | — |  |  | $ | 8.1 |  |  | $ | — |
Loss on extinguishments of debt |  | Loss on extinguishment of debt |  | $ | — |  |  | $ | (6.1 | ) |  | $ | — |
(b) | Represents the elimination of intersegment transactions principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.
(c) | Beginning October 1, 2019, UGI International is allocated a portion of indirect corporate expenses. Prior to October 1, 2019, these expenses were billed to Enterprises, which is included in Corporate & Other.
(d) | Includes AFUDC associated with PennEast. The three months ended December 31, 2019 also includes equity income from Pennant (see Note 5).
(e) Segment information recast to reflect the changes adopted during the fourth quarter of Fiscal 2019 in the segment measure of profit used by our CODM to evaluate the performance of our reportable segments.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration