SCHEDULE I — CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) (Tables)

12 Months Ended

Sep. 30, 2021

Condensed Financial Information Disclosure [Abstract]

BALANCE SHEETS

(Millions of dollars)


	September 30,
	2021		2020
ASSETS
Current assets:
Cash and cash equivalents	$	14	$	67
Accounts receivable – related parties	18		11
Prepaid expenses and other current assets	11		15
Total current assets	43		93
Property, plant and equipment, net	2		2
Investments in subsidiaries	6,479		4,898

Other assets	107		87
Total assets	$	6,631	$	5,080
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt	$	70	$	30
Accounts and notes payable	24		15

Accrued liabilities	62		29
Total current liabilities	156		74
Long-term debt	875		817
Other noncurrent liabilities	78		61
Total liabilities	1,109		952
Commitments and contingencies (Note 1)
Equity:
Preferred Stock, without par value (authorized - 5,000,000; issued - 220,000 and 0, respectively)	213		—
Common Stock, without par value (authorized – 450,000,000 shares; issued – 209,843,296 and 209,514,044 shares, respectively)	1,394		1,416
Retained earnings	4,081		2,908
Accumulated other comprehensive loss	(140)		(147)
Treasury stock, at cost	(26)		(49)
Total common stockholders’ equity	5,522		4,128
Total liabilities and common stockholders’ equity	$	6,631	$	5,080

Statements of Income

STATEMENTS OF INCOME

(Millions of dollars, except per share amounts)


	Year Ended September 30,
	2021		2020		2019
Revenues	$	—	$	—	$	—
Costs and expenses:
Operating and administrative expenses	94		56		50
Other operating income, net (a)	(65)		(54)		(50)
	29		2		—
Operating loss	(29)		(2)		—
Pension and other postretirement plans non-service expense	—		—		(1)
Interest expense	(27)		(32)		(6)

Loss before income taxes	(56)		(34)		(7)
Income tax expense (benefit)	9		17		(3)
Loss before equity in income of unconsolidated subsidiaries	(65)		(51)		(4)
Equity in income of unconsolidated subsidiaries	1,532		583		260
Net income attributable to UGI Corporation	$	1,467	$	532	$	256
Other comprehensive income (loss)	7		(12)		(3)
Equity in other comprehensive income (loss) of unconsolidated subsidiaries	—		82		(97)
Comprehensive income attributable to UGI Corporation	$	1,474	$	602	$	156
Earnings per common share attributable to UGI Corporation stockholders:
Basic	$	7.02	$	2.55	$	1.44
Diluted	$	6.92	$	2.54	$	1.41
Weighted - average common shares outstanding (thousands):
Basic	209,063		208,928		178,417
Diluted	212,126		209,869		181,111

(a)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 operating income, net” in the Statements of Income above

Statements of Cash Flows

STATEMENTS OF CASH FLOWS

(Millions of dollars)


	Year Ended September 30,
	2021		2020		2019
NET CASH PROVIDED BY OPERATING ACTIVITIES (a)	$	300	$	322	$	170

CASH FLOWS FROM INVESTING ACTIVITIES:

Net investments in unconsolidated subsidiaries	(401)		—		(768)
Net cash used by investing activities	(401)		—		(768)

CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of dividends on Common Stock	(282)		(273)		(200)
Issuances of debt, net of issuance costs	483		60		846
Repayments of long-term debt	(385)		(60)		—
Issuance of preferred stock	213		—		—
Issuances of Common Stock	19		2		17
Repurchases of UGI Common Stock	—		(38)		(17)

Other	—		—		(7)
Net cash provided (used) by financing activities	48		(309)		639
Cash and cash equivalents (decrease) increase	$	(53)	$	13	$	41
Cash and cash equivalents:
End of year	$	14	$	67	$	54
Beginning of year	67		54		13
Cash and cash equivalents (decrease) increase	$	(53)	$	13	$	41

(a)Includes dividends received from unconsolidated subsidiaries of $354, $352 and $163 for the years ended September 30, 2021, 2020 and 2019, respectively.