XML 38 R28.htm IDEA: XBRL DOCUMENT

Segment Information (Tables)

6 Months Ended

Mar. 31, 2012

Three Months Ended March 31, 2012:


									Reportable Segments
																					International Propane
									AmeriGas			Gas			Electric			Midstream &						Flaga &			Corporate
	Total			Elims.					Propane			Utility			Utility			Marketing			Antargaz			Other (b)			& Other (c)
Revenues	$	2,427.5		$	(43.6	)	(d	)	$	1,155.6		$	319.5		$	25.9		$	269.0		$	445.3		$	236.4		$	19.4

Cost of sales	$	1,526.6		$	(42.4	)	(d	)	$	670.0		$	177.5		$	15.3		$	221.6		$	288.6		$	185.2		$	10.8

Segment profit:
Operating income (loss)	$	380.8		$	—				$	195.0		$	85.0		$	3.4		$	30.6		$	60.2		$	10.0		$	(3.4	)
Loss on extinguishment of debt		(13.4	)		—					(13.4	)		—			—			—			—			—			—
Interest expense		(65.3	)		—					(45.1	)		(10.1	)		(0.6	)		(1.3	)		(6.9	)		(1.2	)		(0.1	)

Income (loss) before income taxes	$	302.1		$	—				$	136.5		$	74.9		$	2.8		$	29.3		$	53.3		$	8.8		$	(3.5	)

Partnership EBITDA (a)									$	224.5
Noncontrolling interests’ net income	$	93.6		$	—				$	93.2		$	—		$	—		$	—		$	0.4		$	—		$	—

Depreciation and amortization	$	82.8		$	—				$	44.8		$	12.2		$	1.0		$	3.0		$	15.0		$	6.4		$	0.4

Capital expenditures	$	65.3		$	—				$	23.5		$	25.7		$	1.3		$	5.9		$	4.9		$	3.9		$	0.1
Total assets (at period end)	$	10,129.4		$	(84.4	)			$	4,823.8		$	2,038.5		$	155.4		$	643.1		$	1,843.3		$	548.4		$	161.3
Bank loans (at period end)	$	190.2		$	—				$	50.9		$	—		$	—		$	112.0		$	—		$	27.3		$	—
Goodwill (at period end)	$	2,795.2		$	—				$	1,881.3		$	182.1		$	—		$	2.8		$	638.5		$	83.5		$	7.0

Three Months Ended March 31, 2011:


									Reportable Segments
																					International Propane
									AmeriGas			Gas			Electric			Midstream &						Flaga &			Corporate
	Total			Elims.					Propane			Utility			Utility			Marketing			Antargaz			Other (b)			& Other (c)
Revenues	$	2,181.0		$	(92.8	)	(d	)	$	906.8		$	452.5		$	31.7		$	360.3		$	392.7		$	111.2		$	18.6

Cost of sales	$	1,423.9		$	(91.9	)	(d	)	$	564.8		$	288.6		$	20.2		$	305.4		$	244.1		$	82.1		$	10.6

Segment profit:
Operating income (loss)	$	357.0		$	0.1				$	154.6		$	100.9		$	3.0		$	40.8		$	60.5		$	1.3		$	(4.2	)
Loss from equity investees		(0.4	)		—					—			—			—			—			(0.4	)		—			—
Loss on extinguishment of debt		(18.8	)		—					(18.8	)		—			—			—			—			—			—
Interest expense		(34.3	)		—					(16.3	)		(10.2	)		(0.6	)		(0.7	)		(5.9	)		(0.4	)		(0.2	)

Income (loss) before income taxes	$	303.5		$	0.1				$	119.5		$	90.7		$	2.4		$	40.1		$	54.2		$	0.9		$	(4.4	)

Partnership EBITDA (a)									$	157.5
Noncontrolling interests’ net income	$	66.2		$	—				$	65.8		$	—		$	—		$	—		$	0.4		$	—		$	—
Depreciation and amortization	$	55.5		$	—				$	23.2		$	12.3		$	1.0		$	1.9		$	12.6		$	4.1		$	0.4
Capital expenditures	$	82.0		$	—				$	19.3		$	17.5		$	2.6		$	28.2		$	10.4		$	3.5		$	0.5
Total assets (at period end)	$	6,894.4		$	(89.3	)			$	1,908.7		$	2,045.2		$	158.3		$	574.5		$	1,757.7		$	380.8		$	158.5
Bank loans (at period end)	$	222.1		$	—				$	194.0		$	—		$	—		$	—		$	—		$	28.1		$	—
Goodwill (at period end)	$	1,588.4		$	—				$	693.9		$	180.1		$	—		$	2.8		$	626.6		$	78.0		$	7.0

(a)	The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:


Three Months Ended March 31,	2012			2011
Partnership EBITDA (ii)	$	224.5		$	157.5
Depreciation and amortization		(44.8	)		(23.2	)
Loss on extinguishment of debt		13.4			18.8
Noncontrolling interests (i)		1.9			1.5

Operating income	$	195.0		$	154.6

(i)	Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.

(ii)	Includes $13.4 loss and $18.8 loss, respectively, associated with extinguishments of Partnership debt.

(b)	International Propane—Flaga & Other principally comprises Flaga’s retail distribution businesses, our propane distribution business in China and our propane distribution business in the United Kingdom.

(c)

Corporate & Other results principally comprise UGI Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting business (“HVAC/R”), net expenses of UGI’s captive general liability insurance company and UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, assets of HVAC/R and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation.

(d)	Principally represents the elimination of intersegment transactions among Midstream & Marketing, Gas Utility and AmeriGas Propane.

Six Months Ended March 31, 2012:


									Reportable Segments
																					International Propane
									AmeriGas			Gas			Electric			Midstream &						Flaga &			Corporate
	Total			Elims.					Propane			Utility			Utility			Marketing			Antargaz			Other (b)			& Other (c)
Revenues	$	4,116.3		$	(96.9	)	(d	)	$	1,839.4		$	574.5		$	51.1		$	507.8		$	746.9		$	453.1		$	40.4

Cost of sales	$	2,628.4		$	(94.7	)	(d	)	$	1,113.8		$	319.2		$	30.5		$	420.4		$	464.3		$	353.3		$	21.6

Segment profit:
Operating income (loss)	$	569.1		$	—				$	255.1		$	146.2		$	6.6		$	54.5		$	97.5		$	14.4		$	(5.2	)
Loss from equity investees		(0.1	)		—					—			—			—			—			(0.1	)		—			—
Loss on extinguishment of debt		(13.4	)		—					(13.4	)		—			—			—			—			—			—
Interest expense		(101.3	)		—					(61.6	)		(20.2	)		(1.1	)		(2.4	)		(13.4	)		(2.2	)		(0.4	)

Income (loss) before income taxes	$	454.3		$	—				$	180.1		$	126.0		$	5.5		$	52.1		$	84.0		$	12.2		$	(5.6	)

Partnership EBITDA (a)									$	308.2

Noncontrolling interests’ net income	$	116.7		$	—				$	116.2		$	—		$	—		$	—		$	0.5		$	—		$	—

Depreciation and amortization	$	143.1		$	—				$	69.0		$	24.3		$	1.9		$	5.8		$	29.1		$	11.9		$	1.1
Capital expenditures	$	154.0		$	—				$	45.1		$	47.5		$	2.3		$	34.0		$	16.0		$	8.7		$	0.4
Total assets (at period end)	$	10,129.4		$	(84.4	)			$	4,823.8		$	2,038.5		$	155.4		$	643.1		$	1,843.3		$	548.4		$	161.3
Bank loans (at period end)	$	190.2		$	—				$	50.9		$	—		$	—		$	112.0		$	—		$	27.3		$	—
Goodwill (at period end)	$	2,795.2		$	—				$	1,881.3		$	182.1		$	—		$	2.8		$	638.5		$	83.5		$	7.0

Six Months Ended March 31, 2011:


									Reportable Segments
																					International Propane
									AmeriGas			Gas			Electric			Midstream &						Flaga &			Corporate
	Total			Elims.					Propane			Utility			Utility			Marketing			Antargaz			Other (b)			& Other (c)
Revenues	$	3,946.6		$	(132.9	)	(d	)	$	1,607.0		$	773.6		$	60.6		$	639.9		$	728.7		$	230.1		$	39.6

Cost of sales	$	2,586.5		$	(131.2	)	(d	)	$	1,000.1		$	483.5		$	38.8		$	545.5		$	458.7		$	169.2		$	21.9

Segment profit:
Operating income (loss)	$	609.3		$	0.2				$	246.2		$	176.0		$	6.6		$	68.3		$	112.4		$	3.4		$	(3.8	)
Loss from equity investees		(0.6	)		—					—			—			—			—			(0.6	)		—			—
Loss on extinguishment of debt		(18.8	)		—					(18.8	)		—			—			—			—			—			—
Interest expense		(67.6	)		—					(31.7	)		(20.3	)		(1.1	)		(1.4	)		(11.4	)		(1.3	)		(0.4	)

Income (loss) before income taxes	$	522.3		$	0.2				$	195.7		$	155.7		$	5.5		$	66.9		$	100.4		$	2.1		$	(4.2	)

Partnership EBITDA (a)									$	270.8
Noncontrolling interests’ net income	$	108.1		$	—				$	107.3		$	—		$	—		$	—		$	0.8		$	—		$	—
Depreciation and amortization	$	110.8		$	—				$	45.9		$	24.5		$	2.0		$	3.6		$	24.9		$	9.0		$	0.9
Capital expenditures	$	167.6		$	—				$	40.6		$	33.6		$	4.1		$	62.8		$	19.8		$	6.0		$	0.7
Total assets (at period end)	$	6,894.4		$	(89.3	)			$	1,908.7		$	2,045.2		$	158.3		$	574.5		$	1,757.7		$	380.8		$	158.5
Bank loans (at period end)	$	222.1		$	—				$	194.0		$	—		$	—		$	—		$	—		$	28.1		$	—
Goodwill (at period end)	$	1,588.4		$	—				$	693.9		$	180.1		$	—		$	2.8		$	626.6		$	78.0		$	7.0

(a)	The following table provides a reconciliation of Partnership EBITDA to AmeriGas Propane operating income:


Six Months Ended March 31,	2012			2011
Partnership EBITDA (ii)	$	308.2		$	270.8
Depreciation and amortization		(69.0	)		(45.9	)
Loss on extinguishment of debt		13.4			18.8
Noncontrolling interests (i)		2.5			2.5

Operating income	$	255.1		$	246.2

(i)	Principally represents the General Partner’s 1.01% interest in AmeriGas OLP.

(ii)	Includes $13.4 loss and $18.8 loss, respectively, associated with extinguishments of Partnership debt.

(b)	International Propane—Flaga & Other principally comprises Flaga’s retail distribution businesses, our propane distribution business in China and our propane distribution business in the United Kingdom.

(c)

Corporate & Other results principally comprise UGI Enterprises’ heating, ventilation, air-conditioning, refrigeration and electrical contracting business (“HVAC/R”), net expenses of UGI’s captive general liability insurance company and UGI Corporation’s unallocated corporate and general expenses and interest income. Corporate & Other assets principally comprise cash, short-term investments, assets of HVAC/R and an intercompany loan. The intercompany loan and associated interest is removed in the segment presentation.

(d)	Principally represents the elimination of intersegment transactions among Midstream & Marketing, Gas Utility and AmeriGas Propane.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details