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v3.22.2.2

Debt (Tables) | 12 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Schedule of Credit Facilities and Short-term Borrowings | Information about the Company’s principal credit agreements (excluding the Energy Services Receivables Facility, which is discussed below) as of September 30, 2022 and 2021, 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 2021 UGI Corporation Senior Credit Facility and its predecessor agreement) 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, 2022 |  |  |  |  |  |  |  |  |  |  |  |
AmeriGas OLP (a) |  | September 2026 |  | $ | 600 |  |  | $ | 131 |  |  | $ | 2 |  |  | $ | 467 |  |  | 7.27 | %
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 |  |  | $ | 151 |  |  | $ | — |  |  | $ | 199 |  |  | 4.37 | %
Mountaineer (e) |  | November 2024 |  | $ | 100 |  |  | $ | 85 |  |  | $ | — |  |  | $ | 15 |  |  | 3.82 | %
UGI Corporation (f) |  | August 2024 |  | $ | 300 |  |  | $ | 252 |  |  | $ | — |  |  | $ | 48 |  |  | 5.62 | %
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
AmeriGas OLP (a) |  | December 2022 |  | $ | 600 |  |  | $ | 170 |  |  | $ | 60 |  |  | $ | 370 |  |  | 2.58 | %
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 |  |  | $ | 130 |  |  | $ | — |  |  | $ | 220 |  |  | 1.35 | %
Mountaineer (e) |  | November 2024 |  | $ | 100 |  |  | $ | 67 |  |  | $ | — |  |  | $ | 33 |  |  | N.M.
UGI Corporation (f) |  | August 2024 |  | $ | 300 |  |  | $ | 185 |  |  | $ | — |  |  | $ | 115 |  |  | 3.27 | %
(a)At September 30, 2022 the 2022 AmeriGas OLP Credit Agreement includes a $100 sublimit for letters of credit. At September 30, 2021 the AmeriGas OLP Credit Agreement included a $150 sublimit for letters of credit. (b)The UGI International Credit Facilities Agreement permits UGI International, LLC to borrow in euros or USD. (c)The Energy Services Credit Agreement includes a $50 sublimit for letters of credit and is guaranteed by certain subsidiaries of Energy Services. (d)The UGI Utilities Credit Agreement includes a $100 sublimit for letters of credit. (e)The Mountaineer Credit Agreement includes a $20 sublimit for letters of credit. (f)At September 30, 2022 and 2021, management intended to maintain a substantial portion of amounts outstanding under the 2021 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. Subsequent to September 30, 2022 and 2021, the Company repaid $87 and $70, respectively, of such borrowings and classified these repayments as “Current maturities of long-term debt” on the Consolidated Balance Sheets. The 2021 UGI Corporation Senior Credit Facility includes a $10 sublimit for letters of credit. N.A. - Not applicable N.M. - Not meaningful
Schedule of Receivables Facility | Information regarding the amounts of trade receivables transferred to ESFC and the amounts sold to the bank are as follows:
|  | 2022 |  | 2021 |  | 2020
Trade receivables transferred to ESFC during the year |  | $ | 2,221 |  |  | $ | 1,353 |  |  | $ | 1,046 |
ESFC trade receivables sold to the bank during the year |  | $ | 152 |  |  | $ | 308 |  |  | $ | 182 |
ESFC trade receivables - end of year (a) |  | $ | 101 |  |  | $ | 61 |  |  | $ | 50 |
(a)At September 30, 2022 and 2021, there were no ESFC trade receivables sold to the bank.
Schedule of Long-term Debt Instruments | Long-term debt comprises the following at September 30:
| 2022 |  | 2021
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 | — |  |  | 1 |
Unamortized debt issuance costs | (12) |  |  | (16) |
Total AmeriGas Propane | 2,563 |  |  | 2,560 |
UGI International: |  |  |
3.25% Senior Notes due November 2025 | — |  |  | 405 |
2.50% Senior Notes due December 2029 | 392 |  |  | — |
UGI International, LLC variable-rate term loan due October 2023 (a) | 294 |  |  | 347 |
Other | 2 |  |  | 23 |
Unamortized debt issuance costs | (6) |  |  | (5) |
Total UGI International | 682 |  |  | 770 |
Midstream & Marketing: |  |  |
Energy Services variable-rate term loan due through August 2026 (b) | 677 |  |  | 684 |
Other | 40 |  |  | 42 |
Unamortized discount and debt issuance costs | (7) |  |  | (10) |
Total Energy Services | 710 |  |  | 716 |
Utilities: |  |  |
Senior Notes: |  |  |
4.12% due September 2046 | 200 |  |  | 200 |
4.98% due March 2044 | 175 |  |  | 175 |
3.12% due April 2050 | 150 |  |  | 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 |
1.59% due June 2026 | 100 |  |  | 100 |
1.64% due September 2026 | 75 |  |  | 75 |
4.75% due July 2032 | 90 |  |  | — |
4.99% due September 2052 | 85 |  |  | — |
Medium-Term Notes: |  |  |
6.13% due October 2034 | 20 |  |  | 20 |
6.50% due August 2033 | 20 |  |  | 20 |
Mountaineer senior notes (c) | 201 |  |  | 164 |
Variable-rate term loan due through July 2027 (d) | 95 |  |  | 102 |
Other | 1 |  |  | 1 |
Unamortized debt issuance costs | (6) |  |  | (6) |
Total UGI Utilities | 1,656 |  |  | 1,451 |
UGI Corporation: |  |  |
UGI Corporation revolving credit facility maturing August 2024 (e) | 252 |  |  | 185 |
UGI Corporation variable-rate term loan due May 2025 (f) | 300 |  |  | 300 |
UGI Corporation variable-rate term loan due through August 2024 (g) | 250 |  |  | 250 |
UGI Corporation variable-rate term loan due May 2025 (h) | 215 |  |  | 215 |
Unamortized debt issuance costs | (2) |  |  | (5) |
Total UGI Corporation | 1,015 |  |  | 945 |
Other | 6 |  |  | 7 |
Total long-term debt | 6,632 |  |  | 6,449 |
Less: current maturities | (149) |  |  | (110) |
Total long-term debt due after one year | $ | 6,483 |  |  | $ | 6,339 |
(a)The effective interest rate on the term loan was 1.89% at both September 30, 2022 and 2021. We have entered into pay- fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate on these borrowings. (b)At September 30, 2022 and 2021, the effective interest rates on the term loan were 5.13% and 5.23%, 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. 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. 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. (c)Total long-term debt at September 30, 2022 and 2021, comprises $180 and $140 principal amount of Mountaineer senior secured notes plus unamortized premium of $21 and $24, respectively. The face interest rates on the Mountaineer senior notes range from 3.50% to 4.49%, with maturities ranging from 2027 to 2052. (d)At September 30, 2022 and 2021, the effective interest rate on this term loan was 3.92% and 4.00%, 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. (e)At September 30, 2022 and 2021, the effective interest rates on credit facility borrowings were 5.61% and 3.27%, 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. (f)At September 30, 2022 and 2021, the effective interest rates on the term loan was 2.67% and 3.26%, respectively. We have entered into pay-fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate on these borrowings. (g)At September 30, 2022 and 2021, the effective interest rates on the term loan were 4.15% and 3.56%, 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. (h)At September 30, 2022 and 2021, the effective interest rates on the term loan were 3.53% and 1.88%. We have entered into pay-fixed, receive-variable interest rate swaps to effectively fix the underlying variable rate on these borrowings.
Schedule of Principal Repayments 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:
| 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
AmeriGas Propane | $ | — |  |  | $ | 675 |  |  | $ | 700 |  |  | $ | 675 |  |  | $ | 525 |
UGI International | 1 |  |  | 294 |  |  | — |  |  | — |  |  | — |
Midstream & Marketing | 10 |  |  | 7 |  |  | 7 |  |  | 656 |  |  | — |
Utilities | 7 |  |  | 6 |  |  | 6 |  |  | 281 |  |  | 70 |
UGI Corporation (a) | 125 |  |  | 377 |  |  | 515 |  |  | — |  |  | — |
Other | 6 |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 149 |  |  | $ | 1,359 |  |  | $ | 1,228 |  |  | $ | 1,612 |  |  | $ | 595 |
(a) Subsequent to September 30, 2022 and 2021, the Company repaid $87 and $70, respectively, of borrowings on the UGI Corporation revolving credit facility maturing August 2024. Such repayments are classified as “Current maturities of long-term debt” on the Consolidated Balance Sheets.

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