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Equity Method Investments | 9 Months Ended
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Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | Note 14 — Equity Method Investments We account for privately held equity securities of entities without readily determinable fair values in which we do not have control, but have significant influence over operating and financial policies, under the equity method. Our equity method investments principally comprise a number of investments in biomass and other renewable energy projects at Midstream & Marketing. Equity method investments are included in "Other assets" on the Condensed Consolidated Balance Sheets and equity method earnings are included in "Income (loss) from equity investees" on the Condensed Consolidated Statements of Income. Equity method investments comprise the following:
|  | Carrying Value |  | Ownership Interest
Investees |  | June 30, 2025 |  | September 30, 2024 |  | June 30, 2024 |  | June 30, 2025 |  | September 30, 2024 |  | June 30, 2024
Midstream & Marketing: |  |  |  |  |  |  |  |  |  |  |  |
Aurum Renewables |  | $ | 46 |  |  | $ | 47 |  |  | $ | 46 |  |  | 40% |  | 40% |  | 40%
Pine Run |  | 96 |  |  | 86 |  |  | 83 |  |  | 49% |  | 49% |  | 49%
MBL Bioenergy |  | 222 |  |  | 206 |  |  | 190 |  |  | 99.99% |  | 99.99% |  | 99.99%
Other |  | 23 |  |  | 20 |  |  | 20 |  |  | various |  | various |  | various
Total Midstream & Marketing |  | 387 |  |  | 359 |  |  | 339 |  |  |  |  |  |  |
UGI International (a) |  | 4 |  |  | 10 |  |  | 10 |  |  | various |  | various |  | various
Other |  | 1 |  |  | 1 |  |  | — |  |  | various |  | various |  | various
Total investments in equity method investees |  | $ | 392 |  |  | $ | 370 |  |  | $ | 349 |  |  |  |  |  |  |
(a)During Fiscal 2024, UGI International recognized an other-than-temporary pre-tax impairment loss of $25 related to its investment in a joint venture that invests in renewable energy projects. This loss was recorded in “Income (loss) from equity investees” on the Condensed Consolidated Statements of Income. See the Company’s 2024 Annual Report for additional information on our equity method investments.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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