Segment Information (Tables)

9 Months Ended

Jun. 30, 2022

Schedule of Segment Reporting Information


Three Months Ended June 30, 2022	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	2,033	$	—		$	597	$	738	$	450	$	250	$	(2)
Intersegment revenues	$	—	$	(99)	(b)	$	—	$	—	$	75	$	24	$	—
Cost of sales	$	1,361	$	(99)	(b)	$	370	$	544	$	436	$	121	$	(11)
Operating income (loss)	$	99	$	—		$	(10)	$	22	$	38	$	38	$	11
(Loss) income from equity investees	(45)		—			—		—		6		—		(51)

Other non-operating income, net	20		—			—		4		—		2		14
Earnings (loss) before interest expense and income taxes	74		—			(10)		26		44		40		(26)
Interest expense	(82)		—			(41)		(7)		(11)		(15)		(8)
(Loss) income before income taxes	$	(8)	$	—		$	(51)	$	19	$	33	$	25	$	(34)

Depreciation and amortization	$	130	$	—		$	44	$	29	$	20	$	37	$	—
Capital expenditures (including the effects of accruals)	$	201	$	—		$	28	$	25	$	9	$	139	$	—


Three Months Ended June 30, 2021	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	1,496	$	—		$	526	$	572	$	232	$	171	$	(5)
Intersegment revenues	$	—	$	(40)	(b)	$	—	$	—	$	29	$	10	$	1
Cost of sales	$	516	$	(39)	(b)	$	267	$	355	$	196	$	67	$	(330)
Operating income	$	391	$	—		$	11	$	40	$	14	$	24	$	302

(Loss) income from equity investees	(86)		—			—		—		7		—		(93)


Other non-operating income (expense), net	1		—			—		1		—		1		(1)
Earnings before interest expense and income taxes	306		—			11		41		21		25		208
Interest expense	(77)		—			(40)		(8)		(10)		(14)		(5)
Income (loss) before income taxes	$	229	$	—		$	(29)	$	33	$	11	$	11	$	203

Depreciation and amortization	$	125	$	—		$	43	$	33	$	19	$	29	$	1
Capital expenditures (including the effects of accruals)	$	162	$	—		$	26	$	21	$	3	$	112	$	—


Nine Months Ended June 30, 2022	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	8,172	$	—		$	2,423	$	3,011	$	1,424	$	1,313	$	1
Intersegment revenues	$	—	$	(396)	(b)	$	—	$	—	$	307	$	87	$	2
Cost of sales	$	4,951	$	(394)	(b)	$	1,333	$	2,267	$	1,389	$	701	$	(345)
Operating income	$	1,363	$	—		$	303	$	211	$	197	$	325	$	327
(Loss) income from equity investees	(32)		—			—		—		19		—		(51)
Loss on extinguishments of debt	(11)		—			—		—		—		—		(11)
Other non-operating income, net	41		—			—		17		—		7		17
Earnings before interest expense and income taxes	1,361		—			303		228		216		332		282
Interest expense	(245)		—			(120)		(22)		(31)		(47)		(25)
Income before income taxes	$	1,116	$	—		$	183	$	206	$	185	$	285	$	257

Depreciation and amortization	$	387	$	—		$	132	$	89	$	57	$	108	$	1
Capital expenditures (including the effects of accruals)	$	546	$	—		$	99	$	71	$	25	$	351	$	—
As of June 30, 2022
Total assets	$	17,111	$	(182)		$	4,365	$	4,410	$	3,198	$	5,146	$	174


Nine Months Ended June 30, 2021	Total		Eliminations			AmeriGas Propane		UGI International		Midstream & Marketing		Utilities		Corporate & Other (a)
Revenues from external customers	$	6,009	$	—		$	2,132	$	2,106	$	903	$	873	$	(5)
Intersegment revenues	$	—	$	(236)	(b)	$	—	$	—	$	183	$	50	$	3
Cost of sales	$	2,623	$	(233)	(b)	$	970	$	1,229	$	776	$	401	$	(520)
Operating income	$	1,564	$	—		$	391	$	322	$	156	$	243	$	452
(Loss) income from equity investees	(69)		—			—		—		24		—		(93)

Other non-operating income (expense), net	—		—			—		4		—		2		(6)
Earnings before interest expense and income taxes	1,495		—			391		326		180		245		353
Interest expense	(233)		—			(120)		(21)		(31)		(42)		(19)
Income before income taxes	$	1,262	$	—		$	271	$	305	$	149	$	203	$	334

Depreciation and amortization	$	375	$	—		$	130	$	100	$	56	$	87	$	2
Capital expenditures (including the effects of accruals)	$	438	$	—		$	83	$	68	$	32	$	255	$	—
As of June 30, 2021
Total assets	$	15,006	$	(267)		$	4,381	$	3,749	$	2,904	$	3,997	$	242

(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 June 30, 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	$	(4)
Net (losses) gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	(46)	$	110	$	(51)
Net gains on commodity derivative instruments not associated with current-period transactions	Other operating income, net	$	—	$	6	$	—
Restructuring costs	Operating and administrative expenses	$	(1)	$	(2)	$	(1)

Unrealized gains on foreign currency derivative instruments	Other non-operating income, net	$	—	$	14	$	—



Impairments associated with certain equity method investments	Loss from equity investees	$	—	$	—	$	(50)


Three Months Ended June 30, 2021	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing
Net losses on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	—	$	(4)
Net gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	59	$	226	$	44
Unrealized losses on foreign currency derivative instruments	Other non-operating income, net	$	—	$	(1)	$	—
Business transformation expenses	Operating and administrative expenses	$	(11)	$	(6)	$	—



Impairments associated with certain equity method investments	Loss from equity investees	$	—	$	—	$	(93)


Nine Months Ended June 30, 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	$	—	$	7	$	(6)
Net (losses) gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	(83)	$	458	$	(29)
Net gains on commodity derivative instruments not associated with current-period transactions	Other operating income, net	$	—	$	6	$	—
Restructuring costs	Operating and administrative expenses	$	(15)	$	(4)	$	(1)
Loss on extinguishment of debt	Loss on extinguishment of debt	$	—	$	(11)	$	—
Unrealized gains on foreign currency derivative instruments	Other non-operating income, net	$	—	$	19	$	—



Impairments associated with certain equity method investments	Loss from equity investees	$	—	$	—	$	(50)


Nine Months Ended June 30, 2021	Location on Income Statement	AmeriGas Propane		UGI International		Midstream & Marketing
Net losses on commodity derivative instruments not associated with current-period transactions	Revenues	$	—	$	—	$	(4)
Net gains on commodity derivative instruments not associated with current-period transactions	Cost of sales	$	123	$	380	$	16
Unrealized losses on foreign currency derivative instruments	Other non-operating income, net	$	—	$	(6)	$	—

Business transformation expenses	Operating and administrative expenses	$	(37)	$	(12)	$	—
Impairments associated with certain equity method investments	Loss from equity investees	$	—	$	—	$	(93)

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