

Three Months Ended June 30, 2018	Total			Eliminations				AmeriGas Propane				UGI International			Midstream & Marketing				UGI Utilities			Corporate & Other (b)
Revenues	$	1,440.9		$	—			$	528.4			$	533.6		$	229.6			$	150.3		$	(1.0	)
Intersegment revenues	$	—		$	(44.4	)	(c)	$	—			$	—		$	34.2			$	9.6		$	0.6
Cost of sales	$	732.5		$	(43.5	)	(c)	$	244.5			$	314.3		$	215.0			$	72.5		$	(70.3	)
Segment profit:
Operating income (loss)	$	28.5		$	(0.3	)		$	(54.7	)	(e)	$	9.0		$	7.4			$	3.9		$	63.2
Income from equity investees	1.3			—				—				—			1.3			(d)	—			—
Gain (loss) on foreign currency contracts, net	25.6			—				—				(0.5		)	—				—			26.1
Interest expense	(56.5		)	—				(40.4		)		(5.5		)	(0.5		)		(10.0		)	(0.1		)
(Loss) income before income taxes	$	(1.1	)	$	(0.3	)		$	(95.1	)		$	3.0		$	8.2			$	(6.1	)	$	89.2
Partnership Adjusted EBITDA (a)								$	67.2
Noncontrolling interests’ net (loss) income	$	(64.1	)	$	—			$	(78.1	)		$	(0.8	)	$	—			$	—		$	14.8
Depreciation and amortization	$	118.8		$	(0.1	)		$	46.4			$	39.8		$	11.1			$	21.4		$	0.2
Capital expenditures (including the effects of accruals)	$	142.7		$	—			$	25.7			$	27.3		$	9.9			$	79.7		$	0.1



Three Months Ended June 30, 2017	Total			Eliminations				AmeriGas Propane			UGI International			Midstream & Marketing				UGI Utilities			Corporate & Other (b)
Revenues	$	1,153.5		$	—			$	467.5		$	351.3		$	195.4			$	138.0		$	1.3
Intersegment revenues	$	—		$	(36.9	)	(c)	$	—		$	—		$	27.4			$	8.6		$	0.9
Cost of sales	$	618.5		$	(36.2	)	(c)	$	197.5		$	178.2		$	189.4			$	52.0		$	37.6
Segment profit:
Operating (loss) income	$	(2.8	)	$	0.1			$	4.6		$	0.5		$	2.8			$	27.7		$	(38.5	)
Income from equity investees	0.9			—				—			0.1			0.8			(d)	—			—
Loss on extinguishments of debt	(4.4		)	—				(4.4		)	—			—				—			—
Loss on foreign currency contracts, net	(16.2		)	—				—			(0.2		)	—				—			(16.0		)
Interest expense	(56.8		)	—				(40.6		)	(5.6		)	(0.3		)		(10.2		)	(0.1		)
(Loss) income before income taxes	$	(79.3	)	$	0.1			$	(40.4	)	$	(5.2	)	$	3.3			$	17.5		$	(54.6	)
Partnership Adjusted EBITDA (a)								$	58.4
Noncontrolling interests’ net loss	$	(43.2	)	$	—			$	(38.5	)	$	(0.3	)	$	—			$	—		$	(4.4	)
Depreciation and amortization	$	104.1		$	(0.1	)		$	46.2		$	31.1		$	8.8			$	17.9		$	0.2
Capital expenditures (including the effects of accruals)	$	140.9		$	—			$	20.9		$	19.1		$	21.7			$	79.1		$	0.1



Nine Months Ended June 30, 2018	Total			Eliminations				AmeriGas Propane				UGI International			Midstream & Marketing				UGI Utilities			Corporate & Other (b)
Revenues	$	6,378.1		$	—			$	2,356.0			$	2,227.4		$	915.6			$	880.3		$	(1.2	)
Intersegment revenues	$	—		$	(330.4	)	(c)	$	—			$	—		$	241.4			$	86.0		$	3.0
Cost of sales	$	3,430.1		$	(327.4	)	(c)	$	1,094.3			$	1,340.2		$	872.6			$	481.6		$	(31.2	)
Segment profit:
Operating income	$	1,009.8		$	0.2			$	359.8		(e)	$	233.9		$	167.2			$	235.3		$	13.4
Income (loss) from equity investees	3.0			—				—				(0.3		)	3.3			(d)	—			—
Gain (loss) on foreign currency contracts, net	9.8			—				—				(14.2		)	—				—			24.0
Interest expense	(172.8		)	—				(122.0		)		(16.3		)	(2.1		)		(32.0		)	(0.4		)
Income before income taxes	$	849.8		$	0.2			$	237.8			$	203.1		$	168.4			$	203.3		$	37.0
Partnership Adjusted EBITDA (a)								$	570.8
Noncontrolling interests’ net income (loss)	$	135.9		$	—			$	145.6			$	(2.3	)	$	—			$	—		$	(7.4	)
Depreciation and amortization	$	341.3		$	(0.2	)		$	139.0			$	106.9		$	32.0			$	62.9		$	0.7
Capital expenditures (including the effects of accruals)	$	381.3		$	—			$	72.9			$	75.1		$	25.5			$	206.5		$	1.3
As of June 30, 2018
Total assets	$	11,876.7		$	(74.2	)		$	3,932.7			$	3,232.5		$	1,316.5			$	3,194.0		$	275.2
Short-term borrowings	$	299.1		$	—			$	177.0			$	3.6		$	—			$	118.5		$	—
Goodwill	$	3,169.0		$	—			$	2,005.5			$	969.9		$	11.5			$	182.1		$	—



Nine Months Ended June 30, 2017	Total			Eliminations				AmeriGas Propane			UGI International			Midstream & Marketing				UGI Utilities			Corporate & Other (b)
Revenues	$	5,006.8		$	—			$	2,008.3		$	1,511.1		$	752.5			$	733.1		$	1.8
Intersegment revenues	$	—		$	(201.2	)	(c)	$	—		$	—		$	163.8			$	34.9		$	2.5
Cost of sales	$	2,337.1		$	(198.8	)	(c)	$	814.0		$	749.3		$	691.0			$	326.0		$	(44.4	)
Segment profit:
Operating income	$	976.6		$	0.2			$	373.8		$	210.4		$	134.6			$	226.3		$	31.3
Income (loss) from equity investees	3.0			—				—			(0.2		)	3.2			(d)	—			—
Loss on extinguishments of debt	(59.7		)	—				(59.7		)	—			—				—			—
Loss on foreign currency contracts, net	(16.1		)	—				—			—			—				—			(16.1		)
Interest expense	(168.0		)	—				(120.6		)	(15.2		)	(1.6		)		(30.5		)	(0.1		)
Income before income taxes	$	735.8		$	0.2			$	193.5		$	195.0		$	136.2			$	195.8		$	15.1
Partnership Adjusted EBITDA (a)								$	514.7
Noncontrolling interests’ net income (loss)	$	108.9		$	—			$	115.4		$	—		$	—			$	—		$	(6.5	)
Depreciation and amortization	$	301.5		$	(0.2	)		$	135.8		$	86.6		$	25.6			$	53.0		$	0.7
Capital expenditures (including the effects of accruals)	$	440.7		$	—			$	74.5		$	62.1		$	104.0			$	199.7		$	0.4
As of June 30, 2017
Total assets	$	11,246.4		$	(53.0	)		$	4,045.7		$	2,887.7		$	1,171.5			$	2,904.5		$	290.0
Short-term borrowings	$	163.9		$	—			$	75.5		$	8.4		$	30.0			$	50.0		$	—
Goodwill	$	3,032.3		$	—			$	2,001.4		$	837.3		$	11.5			$	182.1		$	—

(a)The following table provides a reconciliation of Partnership Adjusted EBITDA to AmeriGas Propane income (loss) before income taxes:



	Three Months Ended June 30,						Nine Months Ended June 30,
	2018			2017			2018			2017
Partnership Adjusted EBITDA	$	67.2		$	58.4		$	570.8		$	514.7
Depreciation and amortization	(46.4		)	(46.2		)	(139.0		)	(135.8		)
Interest expense	(40.4		)	(40.6		)	(122.0		)	(120.6		)
Impairment of Partnership tradenames and trademarks	(75.0		)	—			(75.0		)	—
Loss on extinguishments of debt	—			(4.4		)	—			(59.7		)
MGP environmental remediation accrual	—			(7.5		)	—			(7.5		)
Noncontrolling interest (i)	(0.5		)	(0.1		)	3.0			2.4
(Loss) income before income taxes	$	(95.1	)	$	(40.4	)	$	237.8		$	193.5


(i)	Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.

(b)

Includes net pre-tax gains (losses) on commodity and certain foreign currency derivative instruments not associated with current-period transactions (including such amounts attributable to noncontrolling interests) totaling $95.5 and $(52.7) during the three months ended June 30, 2018 and 2017, respectively, and $54.0 and $28.9 during the nine months ended June 30, 2018 and 2017, respectively. Corporate & Other results for the nine months ended June 30, 2017, also include a pre-tax loss of $7.0 associated with the impairment of a cost basis investment (see Note 2).


(c)	Represents the elimination of intersegment transactions principally among Midstream & Marketing, UGI Utilities and AmeriGas Propane.


(d)	Represents allowance for funds used during construction (“AFUDC”) associated with our PennEast Pipeline equity investment.


(e)	Includes a pre-tax impairment charge of $75.0 for the three and nine months ended June 30, 2018, as a result of a plan to discontinue the use of certain tradenames and trademarks primarily associated with the Partnership’s January 2012 acquisition of Heritage Propane (see Note 6).