XML 51 R34.htm IDEA: XBRL DOCUMENT
v3.23.3

SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) | 12 Months Ended
--- | ---
Sep. 30, 2023
Condensed Financial Information Disclosure [Abstract] |
SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) | BALANCE SHEETS (Millions of dollars)
| September 30,
| 2023 |  | 2022
ASSETS |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 7 |  |  | $ | 20 |
Accounts receivable – related parties | 11 |  |  | 24 |
Prepaid expenses and other current assets | 23 |  |  | 20 |
Total current assets | 41 |  |  | 64 |
Property, plant and equipment, net | — |  |  | 1 |
Investments in subsidiaries | 5,343 |  |  | 7,035 |
Other assets | 143 |  |  | 97 |
Total assets | $ | 5,527 |  |  | $ | 7,197 |
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY |  |  |
Current liabilities: |  |  |
Current maturities of long-term debt | $ | 38 |  |  | $ | 125 |
Accounts and notes payable | 28 |  |  | 20 |
Accrued liabilities | 39 |  |  | 51 |
Total current liabilities | 105 |  |  | 196 |
Long-term debt | 969 |  |  | 889 |
Other noncurrent liabilities | 67 |  |  | 46 |
Total liabilities | 1,141 |  |  | 1,131 |
Commitments and contingencies (Note 1) |  |  |
Equity: |  |  |
Preferred Stock, without par value (authorized - 5,000,000; issued - 220,000 and 220,000, respectively) | 167 |  |  | 162 |
Common Stock, without par value (authorized – 450,000,000 shares; issued – 210,906,052 and 210,560,494 shares, respectively) | 1,503 |  |  | 1,483 |
Retained earnings | 3,027 |  |  | 4,841 |
Accumulated other comprehensive loss | (256) |  |  | (380) |
Treasury stock, at cost | (55) |  |  | (40) |
Total common stockholders’ equity | 4,386 |  |  | 6,066 |
Total liabilities and common stockholders’ equity | $ | 5,527 |  |  | $ | 7,197 |
Note 1 — Commitments and Contingencies: At September 30, 2023, UGI Corporation had agreed to indemnify the issuers of $105 of surety bonds issued on behalf of certain UGI subsidiaries. UGI Corporation is authorized to guarantee up to $475 of obligations to suppliers and customers of Energy Services and subsidiaries of which $358 of such obligations were outstanding as of September 30, 2023. Scheduled principal repayments of long-term debt include $38 in Fiscal 2024 and $973 in Fiscal 2025. STATEMENTS OF INCOME (Millions of dollars, except per share amounts)
| Year Ended September 30,
| 2023 |  | 2022 |  | 2021
Revenues | $ | — |  |  | $ | — |  |  | $ | — |
Costs and expenses: |  |  |  |  |
Operating and administrative expenses | 95 |  |  | 74 |  |  | 94 |
Other operating income, net (a) | (83) |  |  | (63) |  |  | (65) |
| 12 |  |  | 11 |  |  | 29 |
Operating loss | (12) |  |  | (11) |  |  | (29) |
Pension and other postretirement plans non-service expense | — |  |  | (3) |  |  | — |
Interest expense | (52) |  |  | (35) |  |  | (27) |
Loss before income taxes | (64) |  |  | (49) |  |  | (56) |
Income tax (benefit) expense | (13) |  |  | — |  |  | 9 |
Loss before equity in income of unconsolidated subsidiaries | (51) |  |  | (49) |  |  | (65) |
Equity in (loss) income of unconsolidated subsidiaries | (1,451) |  |  | 1,122 |  |  | 1,532 |
Net (loss) income attributable to UGI Corporation | $ | (1,502) |  |  | $ | 1,073 |  |  | $ | 1,467 |
Other comprehensive (loss) income | (8) |  |  | 34 |  |  | 7 |
Equity in other comprehensive income (loss) of unconsolidated subsidiaries | 132 |  |  | (274) |  |  | — |
Comprehensive (loss) income attributable to UGI Corporation | $ | (1,378) |  |  | $ | 833 |  |  | $ | 1,474 |
(Loss) earnings per common share attributable to UGI Corporation stockholders: |  |  |  |  |
Basic | $ | (7.16) |  |  | $ | 5.11 |  |  | $ | 7.02 |
Diluted | $ | (7.16) |  |  | $ | 4.97 |  |  | $ | 6.92 |
Weighted - average common shares outstanding (thousands): |  |  |  |  |
Basic | 209,806 |  |  | 209,940 |  |  | 209,063 |
Diluted | 209,806 |  |  | 215,821 |  |  | 212,126 |
(a)UGI provides certain financial and administrative services to certain of its subsidiaries. UGI bills these subsidiaries monthly for all direct expenses incurred by UGI on behalf of its subsidiaries as well as allocated shares of indirect corporate expense incurred or paid with respect to services provided by UGI. The allocation of indirect UGI corporate expenses to certain of its subsidiaries utilizes a weighted, three-component formula comprising revenues, operating expenses, and net assets employed and considers the relative percentage of such items for each subsidiary to the total of such items for all UGI operating subsidiaries for which general and administrative services are provided. Management believes that this allocation method is reasonable and equitable to its subsidiaries. These billed expenses are classified as “Other operating income, net” in the Statements of Income above. STATEMENTS OF CASH FLOWS (Millions of dollars)
| Year Ended September 30,
| 2023 |  | 2022 |  | 2021
NET CASH PROVIDED BY OPERATING ACTIVITIES (a) | $ | 636 |  |  | $ | 485 |  |  | $ | 300 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Return of capital distributions | — |  |  | 175 |  |  | — |
Net investments in unconsolidated subsidiaries | (309) |  |  | (390) |  |  | (401) |
Net cash used by investing activities | (309) |  |  | (215) |  |  | (401) |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Dividends on UGI Common Stock | (308) |  |  | (296) |  |  | (282) |
Issuances of debt, net of issuance costs | 327 |  |  | 597 |  |  | 483 |
Repayments of long-term debt | (333) |  |  | (530) |  |  | (385) |
Issuance of Preferred Stock, net of issuance costs | — |  |  | — |  |  | 213 |
Issuances of UGI Common Stock | 12 |  |  | 19 |  |  | 19 |
Repurchases of UGI Common Stock | (22) |  |  | (38) |  |  | — |
Payments on Purchase Contracts | (16) |  |  | (16) |  |  | — |
Net cash (used) provided by financing activities | (340) |  |  | (264) |  |  | 48 |
Cash and cash equivalents (decrease) increase | $ | (13) |  |  | $ | 6 |  |  | $ | (53) |
Cash and cash equivalents: |  |  |  |  |
End of year | $ | 7 |  |  | $ | 20 |  |  | $ | 14 |
Beginning of year | 20 |  |  | 14 |  |  | 67 |
Cash and cash equivalents (decrease) increase | $ | (13) |  |  | $ | 6 |  |  | $ | (53) |
(a)Includes dividends received from unconsolidated subsidiaries of $680, $506 and $354 for the years ended September 30, 2023, 2022 and 2021, respectively.

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

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration