AmeriGas Merger, Acquisitions and Dispositions (Tables)

12 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Components of the Purchase Price Allocations

The Company has accounted for the Mountaineer Acquisition using the acquisition method. At September 30, 2021, the allocation of the purchase price is substantially complete but remains preliminary pending the finalization of the valuation of the net assets acquired, including the evaluation of certain acquired contracts, regulatory assets, and deferred income taxes, among others. The purchase price allocation will be finalized once these items have been resolved. Accordingly, the fair value estimates presented below relating to these items are subject to change within the measurement period not to exceed one year from the date of acquisition.

The components of the preliminary Mountaineer purchase price allocations are as follows:

Assets acquired:
Cash and cash equivalents	$	3
Accounts receivable	14
Inventories	41
Other current assets	21
Property, plant and equipment	397
Other noncurrent assets	48
Total assets acquired	$	524
Liabilities assumed:
Short-term borrowings	$	55
Accounts payable	20
Other current liabilities	52
Long-term debt	164
Pension and other postretirement benefit obligation	33
Deferred income taxes	26
Other noncurrent liabilities	29
Total liabilities assumed	$	379
Goodwill	255
Net consideration transferred	$	400

The Company has accounted for the CMG Acquisition using the acquisition method. The components of the final CMG purchase price allocations are as follows:

Assets acquired:
Accounts receivable	$	10
Prepaid expenses and other current assets	1
Property, plant and equipment	614
Investment in Pennant	88
Intangible assets (a)	250
Total assets acquired	$	963
Liabilities assumed:
Accounts payable	3
Total liabilities assumed	$	3
Goodwill	324
Net consideration transferred (including working capital adjustments)	$	1,284

(a)Represents customer relationships having an average amortization period of 35 years.

Total Cash Paid and Liabilities Incurred

Total cash paid and liabilities incurred in connection with these acquisitions were as follows:

	2021		2020		2019
	UGI International		Midstream & Marketing		UGI International		Midstream & Marketing
Total cash paid	$	18	$	16	$	49	$	15
Liabilities incurred	—		7		—		—
Total purchase price	$	18	$	23	$	49	$	15