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Employee Retirement Plans (Tables) | 12 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
Schedule of Change in Pension Benefits and Other Postretirement Benefits Obligations | The following table provides a reconciliation of the PBOs of our pension plans (the U.S. Pension Plans and the UGI International pension plans), plan assets, and the related funded status of our pension plans as of September 30, 2025 and 2024. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect estimated future compensation.
| Pension Benefits |  |
| 2025 |  | 2024 |  |  |  |
Change in benefit obligations: |  |  |  |  |  |  |
Benefit obligations — beginning of year | $ | 707 |  |  | $ | 623 |  |  |  |  |
Service cost | 9 |  |  | 8 |  |  |  |  |
Interest cost | 34 |  |  | 36 |  |  |  |  |
Actuarial loss (gain) | (21) |  |  | 76 |  |  |  |  |
Curtailments | (1) |  |  | — |  |  |  |  |
Foreign currency | 2 |  |  | 2 |  |  |  |  |
Benefits paid | (38) |  |  | (38) |  |  |  |  |
Benefit obligations — end of year (a) | $ | 692 |  |  | $ | 707 |  |  |  |  |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets — beginning of year | $ | 657 |  |  | $ | 556 |  |  |  |  |
Actual gain (loss) on plan assets | 44 |  |  | 118 |  |  |  |  |
Foreign currency | 1 |  |  | 1 |  |  |  |  |
Employer contributions | 15 |  |  | 19 |  |  |  |  |
Benefits paid | (38) |  |  | (37) |  |  |  |  |
Fair value of plan assets — end of year | $ | 679 |  |  | $ | 657 |  |  |  |  |
Funded status of the plans — end of year (b) | $ | (13) |  |  | $ | (50) |  |  |  |  |
Amounts recorded in UGI Corporation stockholders’ equity (pre-tax): |  |  |  |  |  |  |
Prior service cost | $ | 3 |  |  | $ | 3 |  |  |  |  |
Net actuarial loss (gain) | (26) |  |  | (9) |  |  |  |  |
Total | $ | (23) |  |  | $ | (6) |  |  |  |  |
Amounts recorded in regulatory assets and liabilities (pre-tax): |  |  |  |  |  |  |
Net actuarial loss (gain) | $ | 100 |  |  | $ | 106 |  |  |  |  |
Total | $ | 100 |  |  | $ | 106 |  |  |  |  |
(a) The ABOs of the U.S. Pension Plans were $620 and $633 as of September 30, 2025 and 2024, respectively. (b) Amounts are reflected in “Other noncurrent liabilities,” “Other current liabilities,” and “Other assets” on the Consolidated Balance Sheets. Amounts reflected in “Other current liabilities” and “Other assets” are not material.
Schedule of Actuarial Assumptions for U.S. Plans | The expected rate of return on assets assumption is based on current and expected asset allocations as well as historical and expected returns on various categories of plan assets (as further described below).
| Pension Plans |  |
| 2025 |  | 2024 |  | 2023 |  |  |  |  |  |
Weighted-average assumptions: |  |  |  |  |  |  |  |  |  |  |
Discount rate – benefit obligations | 5.54 | % |  | 5.05 | % |  | 6.09 | % |  |  |  |  |  |
Discount rate – benefit cost | 5.05 | % |  | 6.09 | % |  | 5.70 | % |  |  |  |  |  |
Expected return on plan assets | 7.50 | % |  | 7.50 | % |  | 7.50 | % |  |  |  |  |  |
Rate of increase in salary levels | 3.25 | % |  | 3.25 | % |  | 3.25 | % |  |  |  |  |  |
Schedule of Net Periodic Pension (Income) Cost | Net periodic pension (income) cost includes the following components:
| Pension Benefits |  |
| 2025 |  | 2024 |  | 2023 |  |  |  |  |  |
Service cost | $ | 9 |  |  | $ | 8 |  |  | $ | 9 |  |  |  |  |  |  |
Interest cost | 34 |  |  | 36 |  |  | 35 |  |  |  |  |  |  |
Expected return on assets | (48) |  |  | (44) |  |  | (45) |  |  |  |  |  |  |
Curtailment gain | (1) |  |  | — |  |  | — |  |  |  |  |  |  |
Amortization of: |  |  |  |  |  |  |  |  |  |  |
Actuarial loss (gain) | 5 |  |  | 1 |  |  | (3) |  |  |  |  |  |  |
Net benefit cost (income) | $ | (1) |  |  | $ | 1 |  |  | $ | (4) |  |  |  |  |  |  |
Schedule of Expected Payments for Pension Benefits | Expected payments for pension benefits are as follows:
| Pension Benefits |  |
Fiscal 2026 | $ | 45 |  |  |
Fiscal 2027 | $ | 43 |  |  |
Fiscal 2028 | $ | 45 |  |  |
Fiscal 2029 | $ | 50 |  |  |
Fiscal 2030 | $ | 51 |  |  |
Fiscal 2031 - 2035 | $ | 250 |  |  |
Schedule of Pension Plans | The targets and actual allocations for the U.S. Pension Plans’ trust assets at September 30 are as follows:
| Actual |  | Target Asset Allocation (a) |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Equity investments | 45.6 | % |  | 52.4 | % |  | 46.0 | % |  | 53.2 | % |  |
Fixed income funds & cash equivalents | 52.3 | % |  | 44.9 | % |  | 51.8 | % |  | 43.4 | % |  |
Alternative investments | 2.1 | % |  | 2.7 | % |  | 2.2 | % |  | 3.4 | % |  |
Total | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  |
(a) There is a permitted range for the allocation of the trust assets for the U.S. Pension Plans which is 5% less than and greater than the target allocation.
Schedule of Fair Value of U.S. Pension Plan and VEBA Trust Assets | The fair values of the U.S. Pension Plans trust assets by asset class as of September 30, 2025 and 2024 are as follows:
| 2025 |  | 2024
U.S. Pension Plans: |  |  |
Domestic equity investments: |  |  |
Common Stock | $ | 27 |  |  | $ | 20 |
Total domestic equity investments (a) | 27 |  |  | 20 |
Common collective trust funds: |  |  |
U.S. equity index investments | 171 |  |  | 188 |
Non-U.S. equity index investments | 100 |  |  | 96 |
Global equity index investments | — |  |  | 29 |
Bond index investments | 336 |  |  | 274 |
Cash equivalents | 6 |  |  | 11 |
Total common collective trust funds (b) | 613 |  |  | 598 |
Alternative investments (b) | 14 |  |  | 17 |
Total | $ | 654 |  |  | $ | 635 |
(a) Level 1 investments within the fair value hierarchy. (b) Assets measured at NAV and therefore excluded from the fair value hierarchy.

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