-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MkomhcInB3nlfCVll1vT+Bno9tB45XCzvtrU+a1ljQ94/qDGX5mQ7zRDF5msD3Zi 39fyfo4SOV1yBlHj3h3LpA== 0000893220-97-001083.txt : 19970526 0000893220-97-001083.hdr.sgml : 19970526 ACCESSION NUMBER: 0000893220-97-001083 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19960930 FILED AS OF DATE: 19970523 SROS: NYSE SROS: PHLX FILER: COMPANY DATA: COMPANY CONFORMED NAME: UGI CORP /PA/ CENTRAL INDEX KEY: 0000884614 STANDARD INDUSTRIAL CLASSIFICATION: GAS & OTHER SERVICES COMBINED [4932] IRS NUMBER: 232668356 STATE OF INCORPORATION: PA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-11071 FILM NUMBER: 97613647 BUSINESS ADDRESS: STREET 1: 460 N GULPH RD STREET 2: P O BOX 858 CITY: KING OF PRUSSIA STATE: PA ZIP: 19406 BUSINESS PHONE: 6103371000 MAIL ADDRESS: STREET 1: 460 NORTH GULPH ROAD CITY: KING OF PRUSSIA STATE: PA ZIP: 19406 FORMER COMPANY: FORMER CONFORMED NAME: NEW UGI CORP DATE OF NAME CHANGE: 19600201 10-K/A 1 FORM 10-K/A UGI CORPORATION 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 --------------- FORM 10-K/A AMENDMENT NO. 3 TO ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 1996 Commission file number 1-11071 UGI CORPORATION (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Pennsylvania 23-2668356 (STATE OR OTHER JURISDICTION (I.R.S. EMPLOYER IDENTIFICATION NO.) OF INCORPORATION OR ORGANIZATION) 460 North Gulph Road, King of Prussia, PA 19406 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) (610) 337-1000 (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE) SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: NAME OF EACH EXCHANGE TITLE OF CLASS ON WHICH REGISTERED Common Stock, without par value New York Stock Exchange, Inc. Philadelphia Stock Exchange, Inc. SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None ----------------------------------- The undersigned registrant hereby amends its Annual Report on Form 10-K for the fiscal year ended September 30, 1996, as set forth herein: PART II: SECURITIES AND FINANCIAL INFORMATION ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. The Financial Statements and Financial Statement Schedules incorporated by reference or included in this report are as follows: 2 UGI CORPORATION AND SUBSIDIARIES FINANCIAL INFORMATION FOR INCLUSION IN ANNUAL REPORT ON FORM 10-K YEAR ENDED SEPTEMBER 30, 1996 F-1 3 UGI CORPORATION AND SUBSIDIARIES INDEX TO FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULES The consolidated financial statements and supplementary data of UGI Corporation and subsidiaries, together with the report thereon of Coopers & Lybrand L.L.P. dated November 22, 1996, listed in the following index, are included in UGI's 1996 Annual Report to Shareholders and are incorporated in this Form 10-K Annual Report by reference. With the exception of the pages listed in this index and information incorporated in Items 1, 2, 5, 7 and 8, the 1996 Annual Report to Shareholders is not to be deemed filed as part of this Report. Reference ------------------------- Annual Report to Form 10-K Shareholders (page) (page) UGI Corporation: Report of Independent Accountants: On Consolidated Financial Statements 39 On Financial Statement Schedules F-4 Report of Independent Public Accountants on F-5 the Consolidated Financial Statements of AmeriGas Propane, Inc. and subsidiaries for the fiscal year ended September 30, 1996 and the period April 19, 1995 to September 30, 1995 Financial Statements: Consolidated Balance Sheets, September 30, 1996 and 1995 22 - 23 For the years ended September 30, 1996, 1995 and 1994: Consolidated Statements of Income 21 Consolidated Statements of Cash Flows 24 Consolidated Statements of Stockholders' Equity 25 Notes to Consolidated Financial Statements 26 - 38 F-2 4 UGI CORPORATION AND SUBSIDIARIES INDEX TO FINANCIAL STATEMENTS AND FINANCIAL STATEMENT SCHEDULES (continued) Reference ------------------------- Annual Report to Form 10-K Shareholders (page) (page) UGI Corporation (continued) Supplementary Data (unaudited): Quarterly Data for the years ended September 30, 1996 and 1995 38 Financial Statement Schedules: For the years ended September 30, 1996, 1995 and 1994: I - Condensed Financial Information of Registrant (Parent Company) S-1 to S-3 II - Valuation and Qualifying Accounts S-4 to S-5 Annual Reports on Form 10-K/A Annual Reports on Form 10-K/A for the UGI Utilities, Inc. and AmeriGas Propane, Inc. savings plans will be filed by amendment within the time period specified by Rule 15d-21(b). All other financial statement schedules are omitted because the required information is not present or not present in amounts sufficient to require submission of the schedule or because the information required is included elsewhere in the respective financial statements or notes thereto contained or incorporated by reference herein. F-3 5 REPORT OF INDEPENDENT ACCOUNTANTS To The Board of Directors and Stockholders UGI Corporation Valley Forge, Pennsylvania Our report on the consolidated financial statements of UGI Corporation and subsidiaries, which includes an explanatory paragraph regarding the Company's change in its method of accounting for postemployment benefits in 1995, has been incorporated by reference in this Form 10-K from page 39 of the 1996 Annual Report to Shareholders of UGI Corporation and subsidiaries. In connection with our audits of such financial statements, we have also audited the financial statement schedules listed in the index on pages F-2 and F-3 inclusive, of this Form 10-K. In our opinion, the financial statement schedules (pages S-1 to S-5, inclusive) referred to above, when considered in relation to the basic financial statements taken as a whole, present fairly, in all material respects, the information required to be included therein. COOPERS & LYBRAND L.L.P. 2400 Eleven Penn Center Philadelphia, Pennsylvania November 22, 1996 F-4 6 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Board of Directors of AmeriGas Propane, Inc.: We have audited the accompanying consolidated balance sheets of AmeriGas Propane, Inc. (a Pennsylvania corporation and a wholly owned subsidiary of AmeriGas, Inc.) and subsidiaries as of September 30, 1996 and 1995, and the related consolidated statements of operations, stockholder's equity and cash flows for the year ended September 30, 1996 and for the period April 19, 1995 to September 30, 1995. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of AmeriGas Propane, Inc. and subsidiaries as of September 30, 1996 and 1995 and the results of their operations and their cash flows for the year ended September 30, 1996 and for the period April 19, 1995 to September 30, 1995, in conformity with generally accepted accounting principles. ARTHUR ANDERSEN LLP Chicago, Illinois November 22, 1996 F-5 7 UGI CORPORATION AND SUBSIDIARIES SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) BALANCE SHEETS (Millions of dollars)
September 30, ASSETS 1996 1995 - ------ ------- ------- Current assets: Cash and cash equivalents $ 51.4 $ 19.1 Short-term investments 23.1 2.0 Accounts receivable 0.4 0.4 Deferred income taxes 0.2 0.2 Prepaid expenses and other current assets 0.2 0.3 ------- ------- Total current assets 75.3 22.0 Investments in subsidiaries 326.5 383.2 Other assets 1.0 2.3 ------- ------- Total assets $ 402.8 $ 407.5 ======= ======= LIABILITIES AND COMMON STOCKHOLDERS' EQUITY - ----------------------------------------------- Current liabilities: Accounts and notes payable $ 12.2 $ 10.6 Accrued liabilities 11.7 12.6 ------- ------- Total current liabilities 23.9 23.2 Noncurrent liabilities 1.3 3.8 Common stockholders' equity: Common Stock, without par value (authorized - 100,000,000 shares; issued - 33,198,731 and 32,921,830 shares, respectively) 392.0 386.1 Accumulated deficit (12.9) (5.5) ------- ------- 379.1 380.6 Less treasury stock, at cost 1.5 0.1 ------- ------- Total common stockholders' equity 377.6 380.5 ------- ------- Total liabilities and common stockholders' equity $ 402.8 $ 407.5 ======= =======
S-1 8 UGI CORPORATION AND SUBSIDIARIES SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) STATEMENTS OF INCOME (Millions of dollars, except per share amounts)
Year Ended September 30, ---------------------------------- 1996 1995 1994 -------- -------- -------- Revenues $ -- $ -- $ -- Costs and expenses: Operating and administrative expenses 10.1 16.4 15.9 Petrolane management fee income -- (6.8) (11.7) Miscellaneous income, net (13.4) (16.7) (14.7) -------- -------- -------- (3.3) (7.1) (10.5) -------- -------- -------- Operating income 3.3 7.1 10.5 Interest income 0.1 0.2 -- -------- -------- -------- Income before income taxes 3.4 7.3 10.5 Income taxes 1.4 3.2 4.4 -------- -------- -------- Income before equity in income of unconsolidated subsidiaries and equity investees 2.0 4.1 6.1 Equity in continuing operations of unconsolidated subsidiaries 37.5 3.7 31.6 Equity in Petrolane -- 0.1 (0.3) -------- -------- -------- Income from continuing operations 39.5 7.9 37.4 Equity in discontinued operations of unconsolidated subsidiaries -- -- 7.6 -------- -------- -------- Income before extraordinary loss and change in accounting for postemployment benefits 39.5 7.9 45.0 Extraordinary loss - debt restructuring - subsidiaries -- (13.2) -- Change in accounting for postemployment benefits - subsidiaries -- (3.1) -- -------- -------- -------- Net income (loss) $ 39.5 $ (8.4) $ 45.0 ======== ======== ======== Earnings per common share: Continuing operations $ 1.19 $ .24 $ 1.16 Discontinued operations -- -- .23 -------- -------- -------- Earnings before extraordinary loss and change in accounting for postemployment benefits 1.19 .24 1.39 Extraordinary loss - debt restructuring - subsidiaries -- (.40) -- Change in accounting for postemployment benefits - subsidiaries -- (.10) -- -------- -------- -------- Net earnings (loss) $ 1.19 $ (.26) $ 1.39 ======== ======== ========
S-2 9 UGI CORPORATION AND SUBSIDIARIES SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY) STATEMENTS OF CASH FLOWS (Millions of dollars)
Year Ended September 30, ------------------------------- 1996 1995 1994 ------- ------- ------- NET CASH PROVIDED BY OPERATING ACTIVITIES (a) $ 96.6 $ 25.0 $ 46.4 CASH FLOWS FROM INVESTING ACTIVITIES: Expenditures for property, plant and equipment -- (0.2) -- Net repayments from unconsolidated subsidiaries -- 0.5 2.5 Investments in unconsolidated subsidiaries (1.1) (0.6) (36.0) Other (21.1) (2.0) (6.1) ------- ------- ------- Net cash provided (used) by investing activities (22.2) (2.3) (39.6) CASH FLOWS FROM FINANCING ACTIVITIES: Payment of dividends on Common Stock (46.4) (45.2) (42.8) Issuance of Common Stock 11.3 10.1 9.5 Purchase of Common Stock (7.1) -- -- ------- ------- ------- Net cash used by financing activities (42.2) (35.1) (33.3) ------- ------- ------- Cash and cash equivalents increase (decrease) $ 32.2 $ (12.4) $ (26.5) ======= ======= ======= Cash and cash equivalents: End of period $ 51.3 $ 19.1 $ 31.5 Beginning of period 19.1 31.5 58.0 ------- ------- ------- Increase (decrease) $ 32.2 $ (12.4) $ (26.5) ======= ======= =======
(a) Includes dividends received from unconsolidated subsidiaries of $95.2, $22.1 and $37.3, respectively, for the years ended September 30, 1996, 1995 and 1994. Supplemental disclosure of non-cash investing activities: During the year ended September 30, 1995, UGI Corporation contributed a $10 noninterest bearing demand note to its wholly owned subsidiary, AmeriGas, Inc. During the year ended September 30, 1996, the note was contributed to AmeriGas Propane, Inc., a subsidiary of AmeriGas, Inc. S-3 10 UGI CORPORATION AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Millions of dollars)
Charged Balance at (credited) Balance at beginning to costs and end of of year expenses Other year ---------- ------------ ----- ---------- YEAR ENDED SEPTEMBER 30, 1996 Reserves deducted from assets in the consolidated balance sheet: Allowance for doubtful accounts $ 7.3 $10.5 $ (7.2)(1) $10.6 ===== ===== Allowance for amortization of deferred financing costs - Propane $ 0.7 $ 1.5 $ - $ 2.2 ===== ===== Allowance for amortization of other deferred costs - Propane $ 1.8 $ 1.0 $ - $ 2.8 ===== ===== Other reserves: Self-insured property and casualty liability $48.5 $14.0 $(14.8)(2) $47.7 ===== ===== Insured property and casualty liability $11.7 $ 6.8 $ 0.5 (4) $19.0 ===== ===== Environmental $18.4 $(5.9) $ (0.6)(2) $11.9 ===== ===== Other $ 7.7 $(1.2) $ (2.3)(2) $ 4.2 ===== ===== YEAR ENDED SEPTEMBER 30, 1995 Reserves deducted from assets in the consolidated balance sheet: Allowance for doubtful accounts $ 4.7 $ 5.4 $ (7.3)(1) $ 7.3 ===== 4.5 (3) ===== Allowance for amortization of deferred financing costs - Propane $ - $ 0.7 -- $ 0.7 ===== ===== Allowance for amortization of other deferred costs - Propane $ 6.3 $ 1.6 $ 0.4 (3) $ 1.8 ===== (6.5)(4) ===== Other reserves: Self-insured property and casualty liability $13.6 $11.3 $ (9.6)(2) $48.5 ===== 33.0 (3) ===== 0.2 (4) Insured property and casualty liability $ -- $14.9 $ (2.1)(2) $11.7 ===== (1.1)(4) ===== Environmental $ 0.5 $ -- $ 21.4 (3) $18.4 ===== (3.4)(4) ===== (0.1)(2) Other $ -- $ 0.2 $ 10.9 (3) $ 7.7 ===== (0.5)(2) ===== (2.9)(4)
S-4 11 UGI CORPORATION AND SUBSIDIARIES SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (continued) (Millions of dollars)
Charged Balance at (credited) Balance at beginning to costs and end of of year expenses Other year ---------- ------------ ----- ---------- YEAR ENDED SEPTEMBER 30, 1994 Reserves deducted from assets in the consolidated balance sheet: Allowance for doubtful accounts $3.7 $5.9 $(4.9)(1) $ 4.7 ==== ===== Allowance for amortization of other deferred costs - Propane $5.9 $2.0 $(1.6)(4) $ 6.3 ==== ===== Other reserves: Self-insured property and casualty liability $9.1 $9.7 $(5.2)(2) $13.6 ==== ===== Environmental $0.5 $- $ - $ 0.5 ==== =====
(1) Uncollectible accounts written off, net of recoveries. (2) Payments. (3) Represents amounts for Petrolane Incorporated (Petrolane) as a result of the purchase on April 19, 1995 of the 65% of the common stock of Petrolane not already owned by UGI or its subsidiary AmeriGas, Inc. (4) Other adjustments. S-5 12 PART IV: ADDITIONAL EXHIBITS, SCHEDULES AND REPORTS ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K (a) Documents filed as part of this Report: (3) List of Exhibits: The exhibits filed as part of this Report are as follows (exhibits incorporated by reference are set forth with the name of the registrant, the type of report and registration number or last date of the period for which it was filed, and the exhibit number in such filing): -2- 13 ================================================================================ INCORPORATION BY REFERENCE ================================================================================ EXHIBIT NO. EXHIBIT REGISTRANT FILING EXHIBIT ================================================================================ 3.1 (Second) Amended and Restated UGI Amendment No. 3.(3)(a) Articles of Incorporation of 1 on Form 8 the Company to Form 8-B (4/10/92) 3.2 Bylaws of UGI as in effect UGI Form 10-K 3.2 since October 31, 1995. (9/30/95) - -------------------------------------------------------------------------------- 4 Instruments defining the rights of security holders, including indentures. (The Company agrees to furnish to the Commission upon request a copy of any instrument defining the rights of holders of its long-term debt not required to be filed pursuant to the description of Exhibit 4 contained in Item 601 of Regulation S-K) 4.1 Rights Agreement, as amended UGI Form 8-K 4.1 as of April 17, 1996, between (4/17/96) the Company and Mellon Bank, N.A., successor to Mellon Bank (East) N.A., as Rights Agent, and Assumption Agreement dated April 7, 1992 4.2 The description of the UGI Form 8-B/A 3.(4) Company's Common Stock (4/17/96) contained in the Company's registration statement filed under the Securities Exchange Act of 1934, as amended 4.3 UGI's (Second) Amended and Restated Articles of Incorporation and Bylaws referred to in 3.1 and 3.2 above. 4.4 Utilities' Articles of Utilities Form 8-K 4(a) Incorporation (9/22/94) 4.5 First Mortgage Notes AmeriGas Form 10-Q 10.8 Agreement dated as of April Partners, (3/31/95) 12, 1995 among The Prudential L.P. Insurance Company of America, Metropolitan Life Insurance Company, and certain other institutional investors and AmeriGas Propane, L.P., New AmeriGas Propane, Inc. and Petrolane Incorporated - -------------------------------------------------------------------------------- -3- 14
=========================================================================================================== INCORPORATION BY REFERENCE =========================================================================================================== EXHIBIT NO. EXHIBIT REGISTRANT FILING EXHIBIT - ----------------------------------------------------------------------------------------------------------- 10.1 Service Agreement (Rate FSS) dated as of UGI Form 10-K 10.5 November 1, 1989 between Utilities and (9/30/95) Columbia, as modified pursuant to the orders of the Federal Energy Regulatory Commission at Docket No. RS92-5-000 reported at Columbia Gas Transmission Corp., 64 FERC Paragraph 61,060 (1993), order on rehearing, 64 FERC Paragraph 61,365 (1993) 10.2 Service Agreement (Rate FTS) dated June Utilities Form 10-K (10)o. 1, 1987 between Utilities and Columbia, (12/31/90) as modified by Supplement No. 1 dated October 1, 1988; Supplement No. 2 dated November 1, 1989; Supplement No. 3 dated November 1, 1990; Supplement No. 4 dated November 1, 1990; and Supplement No. 5 dated January 1, 1991, as further modified pursuant to the orders of the Federal Energy Regulatory Commission at Docket No. RS92-5-000 reported at Columbia Gas Transmission Corp., 64 FERC Paragraph 61,060 (1993), order on rehearing, 64 FERC Paragraph 61,365 (1993) 10.3 Transportation Service Agreement (Rate Utilities Form 10-K (10)p. FTS-1) dated November 1, 1989 between (12/31/90) Utilities and Columbia Gulf Transmission Company, as modified pursuant to the orders of the Federal Energy Regulatory Commission in Docket No. RP93-6-000 reported at Columbia Gulf Transmission Co., 64 FERC Paragraph 61,060 (1993), order on rehearing, 64 FERC Paragraph 61,365 (1993) 10.4 Amended and Restated Sublease Agreement UGI Form 10-K 10.35 dated April 1, 1988 between Southwest (9/30/94) Salt Co. and AP Propane, Inc. (the "Southwest Salt Co. Agreement")
-4- 15
=========================================================================================================== INCORPORATION BY REFERENCE =========================================================================================================== EXHIBIT NO. EXHIBIT REGISTRANT FILING EXHIBIT - ----------------------------------------------------------------------------------------------------------- 10.5 Letter dated September 26, 1994 pursuant UGI Form 10-K 10.36 to Article 1, Section 1.2 of the (9/30/94) Southwest Salt Co. Agreement re: option to renew for period of June 1, 1995 to May 31, 2000 10.6** UGI Corporation 1992 Directors' Stock Plan UGI Form 10-Q (10)ff (6/30/92) 10.7** UGI Corporation Directors Deferred UGI Form 10-K 10.39 Compensation Plan dated August 26, 1993 (9/30/94) 10.8** UGI Corporation Retirement Plan for UGI Form 10-K 10.40 Outside Directors dated October 1, 1993 (9/30/94) 10.9** UGI Corporation 1992 Stock Option and UGI Form 10-Q (10)ee Dividend Equivalent Plan, as amended May (6/30/92) 19, 1992 10.10** UGI Corporation Annual Bonus Plan dated UGI Form 10-Q 10.4 March 8, 1996 (6/30/96) 10.11** Amended and Restated Senior Executive UGI Form 10-K 10.43 Retirement Plan for Certain Employees of (9/30/94) UGI Corporation and its Subsidiaries and Affiliates, effective October 27, 1992 10.12** UGI Corporation Senior Executive UGI Form 10-K 10.44 Severance Pay Plan dated April 30, 1993 (9/30/94) 10.13** Change of Control Agreement UGI Form 10-Q 10.1 between UGI Corporation and Lon (6/30/96) R. Greenberg 10.14** Form of Change of Control between UGI UGI Form 10-Q 10.2 Corporation and each of Messrs. Bunn and (6/30/96) Ladner 10.15** Form of Change of Control Agreement UGI Form 10-Q 10.3 between UGI Corporation and each of (6/30/96) Messrs. Bovaird, Cuzzolina and Hall
-5- 16
=========================================================================================================== INCORPORATION BY REFERENCE =========================================================================================================== EXHIBIT NO. EXHIBIT REGISTRANT FILING EXHIBIT - ----------------------------------------------------------------------------------------------------------- 10.16** Agreement with Robert C. Mauch dated AmeriGas Form 10-K 10.22 July 25, 1996 Partners (9/30/96) 10.17 Credit Agreement dated as of April 12, AmeriGas Registration 10.1 1995 among AmeriGas Propane, L.P., Partners, L.P. Statement on AmeriGas Propane, Inc., Petrolane Form S-4 Incorporated, Bank of America National (No. 33-92734) Trust and Savings Association, as Agent and certain banks 10.18 First Amendment dated as of July 31, AmeriGas Form 10-K 10.2 1995 to Credit Agreement Partners, L.P. (9/30/96) 10.19 Second Amendment dated as of October 28, AmeriGas Form 10-K 10.3 1996 to Credit Agreement Partners, L.P. (9/30/96) 10.20 Intercreditor and Agency Agreement dated AmeriGas Form 10-Q 10.2 as of April 19, 1995 among AmeriGas Partners, L.P. (3/31/95) Propane, Inc., Petrolane Incorporated, AmeriGas Propane, L.P., Bank of America National Trust and Savings Association ("Bank of America") as Agent, Mellon Bank, N.A. as Cash Collateral Sub-Agent, Bank of America as Collateral Agent and certain creditors of AmeriGas Propane, L.P. 10.21 General Security Agreement dated as of AmeriGas Form 10-Q 10.3 April 19, 1995 among AmeriGas Propane, Partners, L.P. (3/31/95) L.P., Bank of America National Trust and Savings Association and Mellon Bank, N.A. 10.22 Subsidiary Security Agreement dated as AmeriGas Form 10-Q 10.4 of April 19, 1995 among AmeriGas Partners, L.P. (3/31/95) Propane, L.P., Bank of America National Trust and Savings Association as Collateral Agent and Mellon Bank, N.A. as Cash Collateral Agent 10.23 Restricted Subsidiary Guarantee dated as AmeriGas Form 10-Q 10.5 of April 19, 1995 by AmeriGas Propane, Partners, L.P. (3/31/95) L.P. for the benefit of Bank of America National Trust and Savings Association, as Collateral Agent
-6- 17
=========================================================================================================== INCORPORATION BY REFERENCE =========================================================================================================== EXHIBIT NO. EXHIBIT REGISTRANT FILING EXHIBIT - ----------------------------------------------------------------------------------------------------------- 10.24 Trademark License Agreement dated April AmeriGas Form 10-Q 10.6 19, 1995 among UGI Corporation, Partners, L.P. (3/31/95) AmeriGas, Inc., AmeriGas Propane, Inc., AmeriGas Partners, L.P. and AmeriGas Propane, L.P. 10.25 Trademark License Agreement, dated April AmeriGas Form 10-Q 10.7 19, 1995 among AmeriGas Propane, Inc., Partners, L.P. (3/31/95) AmeriGas Partners, L.P. and AmeriGas Propane, L.P. 10.26 Credit Agreement dated October 28, 1996 AmeriGas Form 10-K 10.19 between AmeriGas Propane, Inc. and Partners, L.P. (9/30/96) AmeriGas Partners, L.P. 11 Statement re: Computation of Per Share Earnings 13 Pages 10 through 39 of 1996 Annual Report to Shareholders 21 Subsidiaries of the Registrant 23 Consent of Coopers & Lybrand L.L.P. 23.2 Consent of Coopers & Lybrand L.L.P. (Re: Financial Statements and Schedules of UGI Utilities, Inc. Savings Plan) 23.3 Consent of Arthur Andersen LLP (Re: Financial Statements and Schedules of AmeriGas Propane, Inc. Savings Plan) 23.4 Consent of Arthur Andersen LLP *23.5 Consent of Coopers & Lybrand L.L.P. *23.6 Consent of Arthur Andersen LLP 27 Financial Data Schedule 99 Cautionary Statements affecting Forward-looking Information 99.2 Financial Statements of the UGI Utilities, Inc. Savings Plan 99.3 Financial Statements of the AmeriGas Propane, Inc. Savings Plan 99.4 Report of Arthur Andersen LLP (Re: Financial Statements of AmeriGas Propane, Inc. and subsidiaries)
* Filed herewith. ** As required by Item 14(a)(3), this exhibit is identified as a compensatory plan or arrangement. (b) Reports on Form 8-K: During the last quarter of the 1996 fiscal year, the Company filed no Current Reports on Form 8-K. -7- 18 Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this amendment to be signed on its behalf by the undersigned, thereunto duly authorized. UGI CORPORATION By C. L. Ladner ------------------------------- C. L. Ladner Senior Vice President - Finance Date: May 22, 1997 -8- 19 EXHIBIT INDEX EXHIBIT NO. DESCRIPTION - ----------- ----------- 23.5 Consent of Coopers & Lybrand L.L.P. 23.6 Consent of Arthur Andersen LLP EX-23.5 2 CONSENT OF COOPERS & LYBRAND L.L.P. 1 EXHIBIT 23.5 CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in the registration statements of UGI Corporation on Form S-8 (File No. 33-47319), Form S-3 (File No. 33-78776), Form S-8 (File No. 33-61722) and Form S-8 (File No. 333-22305) of our reports dated November 22, 1996 on our audits of the consolidated financial statements and financial statement schedules of UGI Corporation and subsidiaries for the years ended September 30, 1996, 1995 and 1994, which reports are included or incorporated by reference in this Amendment No. 3 on Form 10-K/A to UGI Corporation's Annual Report on Form 10-K for the year ended September 30, 1996. COOPERS & LYBRAND L.L.P. 101 East Kennedy Blvd. Suite 1500 Tampa, Florida May 23, 1997 EX-23.6 3 CONSENT OF ARTHUR ANDERSEN LLP 1 EXHIBIT 23.6 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation of our report dated November 22, 1996, on the consolidated financial statements of AmeriGas Propane, Inc. and subsidiaries for the fiscal year ended September 30, 1996 and the period April 19, 1995 to September 30, 1995, included in UGI Corporation's Annual Report on Form 10-K (as amended by Form 10-K/A, Amendment No. 3) for the fiscal year ended September 30, 1996, into UGI Corporation's previously filed Form S-8 Registration Statement No. 33-47319; Form S-3 Registration Statement No. 33-78776; and Form S-8 Registration Statement Nos. 33-61722 and 333-22305. Arthur Andersen LLP Chicago, Illinois May 23, 1997 -----END PRIVACY-ENHANCED MESSAGE-----