Condensed Financial Information of Registrant (Parent Company)

12 Months Ended

Sep. 30, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information of Registrant (Parent Company)

BALANCE SHEETS

(Millions of dollars)

	September 30,
	2013			2012(a)
ASSETS
Current assets:
Cash and cash equivalents	$	0.9		$	1.9
Accounts and notes receivable	2.9			4.0
Deferred income taxes	0.4			0.4
Prepaid expenses and other current assets	0.3			0.3
Total current assets	4.5			6.6
Investments in subsidiaries	2,488.7			2,241.1
Other assets	49.9			28.3
Total assets	$	2,543.1		$	2,276.0
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts and notes payable	$	11.0		$	11.1
Derivative financial instruments	—			—
Accrued liabilities	3.9			2.4
Total current liabilities	14.9			13.5
Noncurrent liabilities	35.7			32.7
Commitments and contingencies (Note 1)
Common stockholders’ equity:
Common Stock, without par value (authorized - 300,000,000 shares; issued - 115,783,794 and 115,624,594 shares, respectively)	1,208.1			1,157.7
Retained earnings	1,308.3			1,156.0
Accumulated other comprehensive income (loss)	8.4			(55.2		)
Treasury stock, at cost	(32.3		)	(28.7		)
Total common stockholders’ equity	2,492.5			2,229.8
Total liabilities and common stockholders’ equity	$	2,543.1		$	2,276.0

(a) Investments in subsidiaries and common stockholder’s equity have been revised to reflect the effects of corrections to consolidated financial statements (see Note 3 to Consolidated Financial Statements).

Note 1 — Commitments and Contingencies:

In addition to the guarantees of Flaga’s and Antargaz’ debt as described in Note 6 to Consolidated Financial Statements, at September 30, 2013, UGI Corporation had agreed to indemnify the issuers of $52.5 of surety bonds issued on behalf of certain UGI subsidiaries. UGI Corporation is authorized to guarantee up to $425.0 of obligations to suppliers and customers of UGI Energy Services, Inc. and subsidiaries of which $368.6 of such obligations were outstanding as of September 30, 2013. UGI Corporation has guaranteed the floating to fixed rate interest rate swaps at Flaga which obligations totaled $4.3 at September 30, 2013.

STATEMENTS OF INCOME

(Millions of dollars, except per share amounts)

	Year Ended September 30,
	2013			2012(a)			2011(a)
Revenues	$	—		$	—		$	—
Costs and expenses:
Operating and administrative expenses	36.9			27.8			31.0
Other income, net (1)	(36.7		)	(28.1		)	(24.8		)
	0.2			(0.3		)	6.2
Operating (loss) income	(0.2		)	0.3			(6.2		)
Intercompany interest income	0.2			0.2			0.1
Income (loss) before income taxes	—			0.5			(6.1		)
Income tax expense (benefit)	3.1			0.3			(1.1		)
(Loss) income before equity in income of unconsolidated subsidiaries	(3.1		)	0.2			(5.0		)
Equity in income of unconsolidated subsidiaries	281.2			210.0			250.4
Net income	$	278.1		$	210.2		$	245.4
Earnings per common share:
Basic	$	2.44		$	1.87		$	2.20
Diluted	$	2.41		$	1.85		$	2.17
Average common shares outstanding (thousands):
Basic	113,923			112,581			111,674
Diluted	115,521			113,432			112,944

(a) Equity in income of unconsolidated subsidiaries have been revised to reflect the effects of corrections to consolidated financial statements (see Note 3 to Consolidated Financial Statements).

(1) 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 income, net” in the Statements of Income above.

STATEMENTS OF CASH FLOWS

(Millions of dollars)

	Year Ended September 30,
	2013			2012			2011
NET CASH PROVIDED BY OPERATING ACTIVITIES (a)	$	139.4		$	158.3		$	201.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Net investments in unconsolidated subsidiaries	(59.1		)	(54.4		)	(119.4		)
Net cash used by investing activities	(59.1		)	(54.4		)	(119.4		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends on Common Stock	(125.8		)	(119.1		)	(113.8		)
Issuance of Common Stock	44.5			16.7			31.0
Net cash used by financing activities	(81.3		)	(102.4		)	(82.8		)
Cash and cash equivalents (decrease) increase	$	(1.0	)	$	1.5		$	(0.6	)
Cash and cash equivalents:
End of year	$	0.9		$	1.9		$	0.4
Beginning of year	1.9			0.4			1.0
(Decrease) increase	$	(1.0	)	$	1.5		$	(0.6	)

(a) Includes dividends received from unconsolidated subsidiaries of $155.2, $156.0 and $188.9, for the years ended September 30, 2013, 2012 and 2011, respectively.