Segment Information (Tables)

6 Months Ended

Mar. 31, 2022

Schedule of Segment Reporting Information


Three Months Ended March 31, 2022	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	3,466	$	—		$	1,048	$	1,224	$	533	$	667	$	(6)
Intersegment revenues	$	—	$	(179)	(b)	$	—	$	—	$	138	$	40	$	1
Cost of sales	$	1,470	$	(178)	(b)	$	545	$	930	$	540	$	380	$	(747)
Operating income	$	1,332	$	—		$	227	$	111	$	85	$	191	$	718
Income from equity investees	5		—			—		—		5		—		—

Other non-operating income (expense), net	11		—			—		9		—		3		(1)
Earnings before interest expense and income taxes	1,348		—			227		120		90		194		717
Interest expense	(82)		—			(38)		(8)		(10)		(16)		(10)
Income before income taxes	$	1,266	$	—		$	189	$	112	$	80	$	178	$	707

Depreciation and amortization	$	128	$	—		$	44	$	29	$	18	$	36	$	1
Capital expenditures (including the effects of accruals)	$	170	$	—		$	36	$	23	$	10	$	101	$	—


Three Months Ended March 31, 2021	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	2,581	$	—		$	940	$	834	$	392	$	417	$	(2)
Intersegment revenues	$	—	$	(118)	(b)	$	—	$	—	$	92	$	25	$	1
Cost of sales	$	1,274	$	(117)	(b)	$	431	$	491	$	343	$	202	$	(76)
Operating income	$	671	$	—		$	239	$	147	$	90	$	142	$	53

Income from equity investees	10		—			—		—		10		—		—


Other non-operating income, net	18		—			—		2		—		—		16
Earnings before interest expense and income taxes	699		—			239		149		100		142		69
Interest expense	(78)		—			(40)		(6)		(11)		(14)		(7)
Income before income taxes	$	621	$	—		$	199	$	143	$	89	$	128	$	62

Depreciation and amortization	$	126	$	—		$	44	$	34	$	19	$	29	$	—
Capital expenditures (including the effects of accruals)	$	124	$	—		$	30	$	18	$	12	$	64	$	—


Six Months Ended March 31, 2022	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	6,139	$	—		$	1,826	$	2,273	$	974	$	1,063	$	3
Intersegment revenues	$	—	$	(297)	(b)	$	—	$	—	$	232	$	63	$	2
Cost of sales	$	3,590	$	(295)	(b)	$	963	$	1,723	$	953	$	580	$	(334)
Operating income	$	1,264	$	—		$	313	$	189	$	159	$	287	$	316
Income from equity investees	13		—			—		—		13		—		—
Loss on extinguishments of debt	(11)		—			—		—		—		—		(11)
Other non-operating income, net	21		—			—		13		—		5		3
Earnings before interest expense and income taxes	1,287		—			313		202		172		292		308
Interest expense	(163)		—			(79)		(15)		(20)		(32)		(17)
Income before income taxes	$	1,124	$	—		$	234	$	187	$	152	$	260	$	291

Depreciation and amortization	$	257	$	—		$	88	$	60	$	37	$	71	$	1
Capital expenditures (including the effects of accruals)	$	345	$	—		$	71	$	46	$	16	$	212	$	—
As of March 31, 2022
Total assets	$	17,777	$	(163)		$	4,563	$	4,905	$	3,195	$	5,106	$	171


Six Months Ended March 31, 2021	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	4,513	$	—		$	1,606	$	1,534	$	671	$	702	$	—
Intersegment revenues	$	—	$	(196)	(b)	$	—	$	—	$	154	$	40	$	2
Cost of sales	$	2,107	$	(194)	(b)	$	703	$	874	$	580	$	334	$	(190)
Operating income	$	1,173	$	—		$	380	$	282	$	142	$	219	$	150
Income from equity investees	17		—			—		—		17		—		—

Other non-operating (expense) income, net	(1)		—			—		3		—		1		(5)
Earnings before interest expense and income taxes	1,189		—			380		285		159		220		145
Interest expense	(156)		—			(80)		(13)		(21)		(28)		(14)
Income before income taxes	$	1,033	$	—		$	300	$	272	$	138	$	192	$	131

Depreciation and amortization	$	250	$	—		$	87	$	67	$	37	$	58	$	1
Capital expenditures (including the effects of accruals)	$	276	$	—		$	57	$	47	$	29	$	143	$	—
As of March 31, 2021
Total assets	$	14,945	$	(227)		$	4,515	$	3,576	$	2,893	$	3,982	$	206

(a)Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM in assessing our reportable segments’ performance or allocating resources. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate:


Three Months Ended March 31, 2022	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	2	$	(9)
Net gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	32	$	560	$	154
Restructuring costs	Operating and administrative expenses	$	(14)	$	(2)	$	—

Unrealized gains on foreign currency derivative instruments	Other non-operating income (expense), net	$	—	$	(1)	$	—


Three Months Ended March 31, 2021	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing
Net losses on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	—	$	(2)
Net gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	27	$	48	$	1
Business transformation expenses	Operating and administrative expenses	$	(14)	$	(3)	$	—
Unrealized gains on foreign currency derivative instruments	Other non-operating income (expense), net	$	—	$	15	$	—


Six Months Ended March 31, 2022	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing
Net gains (losses) on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	5	$	(2)
Net (losses) gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	(37)	$	348	$	22
Restructuring costs	Operating and administrative expenses	$	(14)	$	(2)	$	—
Loss on extinguishment of debt	Loss on extinguishment of debt	$	—	$	(11)	$	—
Unrealized gains on foreign currency derivative instruments	Other non-operating income (expense), net	$	—	$	5	$	—


Six Months Ended March 31, 2021	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing

Net gains (losses) on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	64	$	154	$	(28)
Unrealized losses on foreign currency derivative instruments	Other non-operating income (expense), net	$	—	$	(5)	$	—

Business transformation expenses	Operating and administrative expenses	$	(26)	$	(6)	$	—

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