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

12 Months Ended

Sep. 30, 2023

Condensed Financial Information Disclosure [Abstract]

BALANCE SHEETS

(Millions of dollars)


	September 30,
	2023		2022
ASSETS
Current assets:
Cash and cash equivalents	$	7	$	20
Accounts receivable – related parties	11		24
Prepaid expenses and other current assets	23		20
Total current assets	41		64
Property, plant and equipment, net	—		1
Investments in subsidiaries	5,343		7,035

Other assets	143		97
Total assets	$	5,527	$	7,197
LIABILITIES AND COMMON STOCKHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt	$	38	$	125
Accounts and notes payable	28		20

Accrued liabilities	39		51
Total current liabilities	105		196
Long-term debt	969		889
Other noncurrent liabilities	67		46
Total liabilities	1,141		1,131
Commitments and contingencies (Note 1)
Equity:
Preferred Stock, without par value (authorized - 5,000,000; issued - 220,000 and 220,000, respectively)	167		162
Common Stock, without par value (authorized – 450,000,000 shares; issued – 210,906,052 and 210,560,494 shares, respectively)	1,503		1,483
Retained earnings	3,027		4,841
Accumulated other comprehensive loss	(256)		(380)
Treasury stock, at cost	(55)		(40)
Total common stockholders’ equity	4,386		6,066
Total liabilities and common stockholders’ equity	$	5,527	$	7,197

Statements of Income

STATEMENTS OF INCOME

(Millions of dollars, except per share amounts)


	Year Ended September 30,
	2023		2022		2021
Revenues	$	—	$	—	$	—
Costs and expenses:
Operating and administrative expenses	95		74		94
Other operating income, net (a)	(83)		(63)		(65)
	12		11		29
Operating loss	(12)		(11)		(29)
Pension and other postretirement plans non-service expense	—		(3)		—
Interest expense	(52)		(35)		(27)

Loss before income taxes	(64)		(49)		(56)
Income tax (benefit) expense	(13)		—		9
Loss before equity in income of unconsolidated subsidiaries	(51)		(49)		(65)
Equity in (loss) income of unconsolidated subsidiaries	(1,451)		1,122		1,532
Net (loss) income attributable to UGI Corporation	$	(1,502)	$	1,073	$	1,467
Other comprehensive (loss) income	(8)		34		7
Equity in other comprehensive income (loss) of unconsolidated subsidiaries	132		(274)		—
Comprehensive (loss) income attributable to UGI Corporation	$	(1,378)	$	833	$	1,474
(Loss) earnings per common share attributable to UGI Corporation stockholders:
Basic	$	(7.16)	$	5.11	$	7.02
Diluted	$	(7.16)	$	4.97	$	6.92
Weighted - average common shares outstanding (thousands):
Basic	209,806		209,940		209,063
Diluted	209,806		215,821		212,126

(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,
	2023		2022		2021
NET CASH PROVIDED BY OPERATING ACTIVITIES (a)	$	636	$	485	$	300

CASH FLOWS FROM INVESTING ACTIVITIES:

Return of capital distributions	—		175		—

Net investments in unconsolidated subsidiaries	(309)		(390)		(401)
Net cash used by investing activities	(309)		(215)		(401)

CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends on UGI Common Stock	(308)		(296)		(282)
Issuances of debt, net of issuance costs	327		597		483
Repayments of long-term debt	(333)		(530)		(385)
Issuance of Preferred Stock, net of issuance costs	—		—		213
Issuances of UGI Common Stock	12		19		19
Repurchases of UGI Common Stock	(22)		(38)		—

Payments on Purchase Contracts	(16)		(16)		—
Net cash (used) provided by financing activities	(340)		(264)		48
Cash and cash equivalents (decrease) increase	$	(13)	$	6	$	(53)
Cash and cash equivalents:
End of year	$	7	$	20	$	14
Beginning of year	20		14		67
Cash and cash equivalents (decrease) increase	$	(13)	$	6	$	(53)

(a)Includes dividends received from unconsolidated subsidiaries of $680, $506 and $354 for the years ended September 30, 2023, 2022 and 2021, respectively.