Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Nov. 29, 2013 | Mar. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'UGI UTILITIES INC | ' | ' |
Entity Central Index Key | '0000100548 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 26,781,785 | ' |
Entity Public Float | ' | ' | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $4,707 | $1,259 |
Restricted cash | 3,181 | 0 |
Accounts receivable (less allowances for doubtful accounts of $5,519 and $3,588, respectively) | 53,341 | 47,362 |
Accounts receivable — related parties | 3,497 | 4,571 |
Accrued utility revenues | 18,868 | 16,911 |
Inventories | 89,661 | 67,334 |
Deferred income taxes | 14,165 | 19,430 |
Income taxes recoverable | 0 | 9,461 |
Regulatory assets | 8,217 | 6,473 |
Derivative financial instruments | 43 | 5,468 |
Prepaid expenses & other current assets | 15,862 | 19,852 |
Total current assets | 211,542 | 198,121 |
Property, plant and equipment | 2,427,810 | 2,295,669 |
Less accumulated depreciation and amortization | -853,675 | -815,720 |
Net property, plant and equipment | 1,574,135 | 1,479,949 |
Goodwill | 182,145 | 182,145 |
Regulatory assets | 236,694 | 331,932 |
Other assets | 5,806 | 4,026 |
Total assets | 2,210,322 | 2,196,173 |
Current liabilities: | ' | ' |
Current maturities of long-term debt | 0 | 133,000 |
Bank loans | 17,500 | 9,200 |
Accounts payable — trade | 51,970 | 46,754 |
Accounts payable — related parties | 12,487 | 10,192 |
Employee compensation and benefits accrued | 13,664 | 10,902 |
Interest accrued | 11,281 | 22,766 |
Customer deposits and advances | 40,307 | 49,806 |
Derivative financial instruments | 6,677 | 36,011 |
Deferred fuel refunds | 8,283 | 4,435 |
Pension and postretirement benefit obligations | 17,885 | 15,802 |
Other current liabilities | 27,459 | 31,816 |
Total current liabilities | 207,513 | 370,684 |
Long-term debt | 642,000 | 467,000 |
Deferred income taxes | 436,810 | 390,046 |
Deferred investment tax credits | 4,270 | 4,612 |
Pension and other postretirement benefit obligations | 72,505 | 179,056 |
Other noncurrent liabilities | 55,610 | 56,262 |
Total liabilities | 1,418,708 | 1,467,660 |
Commitments and contingencies (Note 12) | ' | ' |
Common stockholder’s equity: | ' | ' |
Common Stock, $2.25 par value (authorized — 40,000,000 shares; issued and outstanding — 26,781,785 shares) | 60,259 | 60,259 |
Additional paid-in capital | 470,098 | 468,692 |
Retained earnings | 269,977 | 229,379 |
Accumulated other comprehensive loss | -8,720 | -29,817 |
Total common stockholder’s equity | 791,614 | 728,513 |
Total liabilities and stockholder’s equity | $2,210,322 | $2,196,173 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Current assets: | ' | ' |
Allowances for doubtful accounts on accounts receivable | $5,519 | $3,588 |
Common stockholder’s equity: | ' | ' |
Common stock, par value | $2.25 | $2.25 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 26,781,785 | 26,781,785 |
Common stock, shares outstanding | 26,781,785 | 26,781,785 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Revenues | $940,712 | $884,333 | $1,137,366 |
Costs and expenses: | ' | ' | ' |
Cost of sales — gas, fuel and purchased power (excluding depreciation shown below) | 465,996 | 459,079 | 678,500 |
Operating and administrative expenses | 188,266 | 165,479 | 176,922 |
Operating and administrative expenses — related parties | 8,366 | 9,326 | 12,125 |
Taxes other than income taxes | 16,877 | 17,263 | 16,616 |
Depreciation | 52,298 | 49,702 | 49,917 |
Amortization | 3,418 | 3,090 | 2,629 |
Other income, net | -4,828 | -4,989 | -10,764 |
Costs and expenses | 730,393 | 698,950 | 925,945 |
Operating income | 210,319 | 185,383 | 211,421 |
Interest expense | 39,309 | 42,412 | 42,728 |
Income before income taxes | 171,010 | 142,971 | 168,693 |
Income taxes | 68,912 | 55,073 | 63,497 |
Net income | $102,098 | $87,898 | $105,196 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ' |
Net income | $102,098 | $87,898 | $105,196 |
Net gains (losses) on derivative instruments (net of tax of $(10,746), $4,783 and $7,712, respectively) | 15,153 | -6,744 | -10,874 |
Reclassifications of net losses on derivative instruments (net of tax of $(334), $(766) and $(483), respectively) | 471 | 1,111 | 681 |
Benefit plans (net of tax of $(3,325), $1,948 and $479, respectively) | 4,689 | -2,745 | -674 |
Reclassifications of benefit plans actuarial losses and prior service costs to net income (net of tax of $(555), $(333) and $(304), respectively) | 784 | 394 | 430 |
Other comprehensive income (loss) | 21,097 | -7,984 | -10,437 |
Comprehensive income | $123,195 | $79,914 | $94,759 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ' |
Fair value of derivative instruments, net of tax | ($10,746) | $4,783 | $7,712 |
Reclassifications of net losses (gains) on derivative instruments, net of tax | -334 | -766 | -483 |
Benefits plans, net of tax | -3,325 | 1,948 | 479 |
Reclassification on benefits plans actuarial, net of tax | -555 | -333 | -304 |
Reclassification of pension plans actuarial, net of tax | $0 | $0 | $0 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $102,098 | $87,898 | $105,196 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 55,716 | 52,792 | 52,546 |
Deferred income taxes, net | 35,281 | 53,247 | 50,823 |
Pension expense, net of contributions paid | -4,450 | -17,431 | -6,292 |
Provision for uncollectible accounts | 9,584 | 6,286 | 9,137 |
Other, net | -1,560 | 2,490 | -4,526 |
Net change in: | ' | ' | ' |
Accounts receivable and accrued utility revenues | -16,446 | 5,461 | -4,583 |
Inventories | -22,327 | 36,929 | 14,596 |
Deferred fuel costs, net of changes in unsettled derivatives | 9,321 | -8,190 | 12,842 |
Accounts payable | 7,511 | -6,718 | 9,229 |
Other current assets | 13,598 | -5,063 | -3,817 |
Other current liabilities | -18,413 | 2,041 | -14,401 |
Net cash provided by operating activities | 169,913 | 209,742 | 220,750 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | ' |
Expenditures for property, plant and equipment | -151,090 | -114,090 | -98,856 |
Net costs of property, plant and equipment disposals | -4,925 | -4,922 | -3,537 |
(Increase) decrease in restricted cash | -3,181 | 4,308 | 390 |
Net cash used by investing activities | -159,196 | -114,704 | -102,003 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | ' |
Payment of dividends | -58,975 | -70,615 | -99,490 |
Increase (decrease) in bank loans | 8,300 | 9,200 | -17,000 |
Issuances of long-term debt | 175,000 | 0 | 0 |
Repayments of long-term debt | -133,000 | -40,000 | 0 |
Excess tax benefits from equity-based payment arrangements | 1,406 | 369 | 692 |
Net cash used by financing activities | -7,269 | -101,046 | -115,798 |
Cash and cash equivalents increase (decrease) | 3,448 | -6,008 | 2,949 |
CASH AND CASH EQUIVALENTS: | ' | ' | ' |
End of year | 4,707 | 1,259 | 7,267 |
Beginning of year | 1,259 | 7,267 | 4,318 |
Increase (decrease) | 3,448 | -6,008 | 2,949 |
Cash paid for: | ' | ' | ' |
Interest | 49,460 | 29,902 | 39,151 |
Income taxes | $18,376 | $6,728 | $13,856 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Common stock, without par value | Retained earnings | Additional paid-in capital | Accumulated other comprehensive income (loss) |
In Thousands, unless otherwise specified | |||||
Balance, beginning of year at Sep. 30, 2010 | ' | $60,259 | $217,960 | $467,631 | ($11,396) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | 105,196 | ' | 105,196 | ' | ' |
Cash dividends — Common Stock | ' | ' | -99,490 | ' | ' |
Dividends of net assets | ' | ' | -11,570 | ' | ' |
Excess tax benefits on equity-based compensation | ' | ' | ' | 692 | ' |
Net gains (losses) on derivative instruments | -10,874 | ' | ' | ' | -10,874 |
Reclassifications of net losses on derivative instruments | 681 | ' | ' | ' | 681 |
Benefit plans, principally actuarial gains (losses) | ' | ' | ' | ' | -674 |
Reclassifications of benefit plans actuarial losses and prior service costs | 430 | ' | ' | ' | 430 |
Balance, end of year at Sep. 30, 2011 | 718,845 | 60,259 | 212,096 | 468,323 | -21,833 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | 87,898 | ' | 87,898 | ' | ' |
Cash dividends — Common Stock | ' | ' | -70,615 | ' | ' |
Dividends of net assets | ' | ' | 0 | ' | ' |
Excess tax benefits on equity-based compensation | ' | ' | ' | 369 | ' |
Net gains (losses) on derivative instruments | -6,744 | ' | ' | ' | -6,744 |
Reclassifications of net losses on derivative instruments | 1,111 | ' | ' | ' | 1,111 |
Benefit plans, principally actuarial gains (losses) | ' | ' | ' | ' | -2,745 |
Reclassifications of benefit plans actuarial losses and prior service costs | 394 | ' | ' | ' | 394 |
Balance, end of year at Sep. 30, 2012 | 728,513 | 60,259 | 229,379 | 468,692 | -29,817 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | 102,098 | ' | 102,098 | ' | ' |
Cash dividends — Common Stock | ' | ' | -58,975 | ' | ' |
Dividends of net assets | ' | ' | -2,525 | ' | ' |
Excess tax benefits on equity-based compensation | ' | ' | ' | 1,406 | ' |
Net gains (losses) on derivative instruments | 15,153 | ' | ' | ' | 15,153 |
Reclassifications of net losses on derivative instruments | 471 | ' | ' | ' | 471 |
Benefit plans, principally actuarial gains (losses) | ' | ' | ' | ' | 4,689 |
Reclassifications of benefit plans actuarial losses and prior service costs | 784 | ' | ' | ' | 784 |
Balance, end of year at Sep. 30, 2013 | $791,614 | $60,259 | $269,977 | $470,098 | ($8,720) |
Nature_of_Operations
Nature of Operations | 12 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Nature of Operations | ' |
NATURE OF OPERATIONS | |
Nature of Operations | |
UGI Utilities, Inc. (“UGI Utilities”), a wholly owned subsidiary of UGI Corporation (“UGI”), and UGI Utilities’ wholly owned subsidiaries UGI Penn Natural Gas, Inc. (“PNG”) and UGI Central Penn Gas, Inc. (“CPG”), own and operate natural gas distribution utilities in eastern, northeastern and central Pennsylvania and in a portion of one Maryland county. UGI Utilities also owns and operates an electric distribution utility in northeastern Pennsylvania (“Electric Utility”). UGI Utilities’ natural gas distribution utility is referred to as “UGI Gas.” UGI Gas, PNG and CPG are collectively referred to as “Gas Utility.” Gas Utility is subject to regulation by the Pennsylvania Public Utility Commission (“PUC”) and, with respect to a small service territory in one Maryland county, the Maryland Public Service Commission, and Electric Utility is subject to regulation by the PUC. Gas Utility and Electric Utility are collectively referred to as “Utilities.” PNG also has a heating, ventilation and air-conditioning service business (“UGI Penn HVAC Services, Inc.”) which operates principally in the PNG service territory. | |
The term “UGI Utilities” is used sometimes as an abbreviated reference to UGI Utilities, Inc., or to UGI Utilities, Inc. and its subsidiaries, including PNG and CPG. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Significant Accounting Policies | ' | |||||||||||
SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Basis of Presentation | ||||||||||||
Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). | ||||||||||||
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and costs. These estimates are based on management’s knowledge of current events, historical experience and various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may be different from these estimates and assumptions. | ||||||||||||
Principles of Consolidation | ||||||||||||
Our consolidated financial statements include the accounts of UGI Utilities and its subsidiaries (collectively, “we” or “the Company”). We eliminate all significant intercompany accounts when we consolidate. | ||||||||||||
Effects of Regulation | ||||||||||||
UGI Utilities accounts for the financial effects of regulation in accordance with the Financial Accounting Standards Board’s (“FASB’s”) guidance in Accounting Standards Codification (“ASC”) 980 related to regulated entities whose rates are designed to recover the costs of providing service. In accordance with this guidance, incurred costs and estimated future expenditures that would otherwise be charged to expense are capitalized and recorded as regulatory assets when it is probable that the incurred costs or estimated future expenditures will be recovered in rates in the future. Similarly, we recognize regulatory liabilities when it is probable that regulators will require customer refunds through future rates or when revenue is collected from customers for expenditures that have not yet been incurred. Generally, regulatory assets are amortized into expense and regulatory liabilities are amortized into income over the period authorized by the regulator. | ||||||||||||
For additional information regarding the effects of rate regulation, see Note 4. | ||||||||||||
Fair Value Measurements | ||||||||||||
We apply fair value measurements to certain assets and liabilities, principally our commodity derivative instruments. Fair value in GAAP is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and risks inherent in valuation techniques and inputs to valuations. This includes not only the credit standing of counterparties and credit enhancements but also the impact of our own nonperformance risk on our liabilities. Fair value measurements require that we assume that the transaction occurs in the principal market for the asset or liability or in the absence of a principal market, the most advantageous market for the asset or liability (the market for which the reporting entity would be able to maximize the amount received or minimize the amount paid). We evaluate the need for credit adjustments to our derivative instrument fair values in accordance with the requirements noted above. Such adjustments were not material to the fair values of our derivative instruments. | ||||||||||||
We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: | ||||||||||||
• | Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access at the measurement date. Instruments categorized in Level 1 consist of our exchange-traded commodity futures and option contracts and non exchange-traded electricity forward contracts whose underlying is identical to an exchange-traded electricity contract. | |||||||||||
• | Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include financial transmission rights (“FTRs”) and non exchange-traded electricity forward contracts not qualifying for Level 1. | |||||||||||
• | Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. We did not have any derivative financial instruments categorized as Level 3 at September 30, 2013 or 2012. | |||||||||||
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. See Note 13 for additional information on fair value measurements. | ||||||||||||
Derivative Instruments | ||||||||||||
We account for derivative instruments and hedging activities in accordance with guidance provided by the FASB which requires that all derivative instruments be recognized as either assets or liabilities and measured at fair value. The accounting for changes in fair value depends upon the purpose of the derivative instrument and whether it is designated and qualifies for hedge accounting. | ||||||||||||
Substantially all of the gains and losses on derivative instruments used by Gas Utility and Electric Utility are included in regulatory assets and liabilities in accordance with FASB guidance regarding accounting for rate-regulated entities. For cash flow hedges, changes in the fair value of the derivative financial instruments are recorded in accumulated other comprehensive income (“AOCI”), to the extent effective at offsetting changes in the hedged item, until earnings are affected by the hedged item. We discontinue cash flow hedge accounting if the occurrence of the forecasted transaction is determined to be no longer probable. Certain of our derivative financial instruments, although generally effective as hedges, do not qualify for hedge accounting treatment. Changes in the fair values of these derivative instruments are reflected in net income. Cash flows from derivative financial instruments are included in cash flows from operating activities. | ||||||||||||
For a more detailed description of the derivative instruments we use, our accounting for derivatives, our objectives for using them and related supplemental information required by GAAP, see Note 14. | ||||||||||||
Revenue Recognition | ||||||||||||
UGI Utilities’ regulated revenues are recognized as natural gas and electricity are delivered and include estimated amounts for distribution service and commodities rendered but not billed at the end of each month. We reflect the impact of Gas Utility and Electric Utility rate increases or decreases at the time they become effective. Nonregulated revenues are recognized as services are performed or products are delivered. | ||||||||||||
We present revenue-related taxes collected from customers and remitted to taxing authorities, principally sales and use taxes, on a net basis. Electric Utility gross receipts taxes are included in total revenues in accordance with regulatory practice. | ||||||||||||
Income Taxes | ||||||||||||
We record deferred income taxes in the Consolidated Statements of Income resulting from the use of accelerated depreciation methods based upon amounts recognized for ratemaking purposes. We also record a deferred tax liability for tax benefits, principally the result of accelerated tax depreciation for state income tax purposes, that are flowed through to ratepayers when temporary differences originate and record a regulatory income tax asset for the probable increase in future revenues that will result when the temporary differences reverse. | ||||||||||||
We are amortizing deferred investment tax credits related to Utilities’ plant additions over the service lives of the related property. Utilities reduces its deferred income tax liability for the future tax benefits that will occur when the deferred investment tax credits, which are not taxable, are amortized. We also reduce the regulatory income tax asset for the probable reduction in future revenues that will result when such deferred investment tax credits amortize. | ||||||||||||
We join with UGI and its subsidiaries in filing a consolidated federal income tax return. We are charged or credited for our share of current taxes resulting from the effects of our transactions in the UGI consolidated federal income tax return including giving effect to intercompany transactions. The result of this allocation is generally consistent with income taxes calculated on a separate return basis. We record interest on tax deficiencies and income tax penalties in income taxes on the Consolidated Statements of Income. | ||||||||||||
Correction of Error. During the three months ended September 30, 2013, we identified an error in the classification of deferred income tax assets on the September 30, 2012, Consolidated Balance Sheet. We evaluated the impact of the error and have determined that such error is not material. We have revised the September 30, 2012, Consolidated Balance Sheet to correct the error which revision decreased the following Consolidated Balance Sheet items by $27,006: current deferred income taxes; total current assets and total assets; long-term deferred income tax liabilities; total liabilities; and total liabilities and stockholder’s equity. | ||||||||||||
Comprehensive Income | ||||||||||||
The components of AOCI at September 30, 2013 and 2012, follow: | ||||||||||||
Postretirement | Derivative | Total | ||||||||||
Benefit Plans | Instruments Net | |||||||||||
Losses | ||||||||||||
September 30, 2013 | $ | (5,283 | ) | $ | (3,437 | ) | $ | (8,720 | ) | |||
September 30, 2012 | $ | (10,756 | ) | $ | (19,061 | ) | $ | (29,817 | ) | |||
Comprehensive income comprises net income and other comprehensive income (loss). Other comprehensive income (loss) principally reflects gains and losses on derivative instruments accounted for as cash flow hedges and changes in actuarial gains and losses on postretirement benefit plans. Other comprehensive income (loss) for all periods presented includes reclassifications of net losses on interest rate protection agreements (“IRPAs”). | ||||||||||||
Cash and Cash Equivalents | ||||||||||||
All highly liquid investments with maturities of three months or less when purchased are classified as cash equivalents. | ||||||||||||
Restricted Cash | ||||||||||||
Restricted cash represents those cash balances in our commodity futures brokerage accounts which are restricted from withdrawal. | ||||||||||||
Inventories | ||||||||||||
Our inventories are stated at the lower of cost or market. Substantially all of our inventory is determined on an average cost method. | ||||||||||||
Property, Plant and Equipment and Related Depreciation | ||||||||||||
We record property, plant and equipment at original cost. The amounts assigned to property, plant and equipment of acquired businesses are based upon estimated fair value at date of acquisition. | ||||||||||||
We record depreciation expense for Utilities’ plant and equipment on a straight-line basis over the estimated average remaining lives of the various classes of its depreciable property. Depreciation expense as a percentage of the related average depreciable base for Gas Utility was 2.3% in Fiscal 2013, 2.2% in Fiscal 2012 and 2.3% in Fiscal 2011. Depreciation expense as a percentage of the related average depreciable base for Electric Utility was 2.4% in Fiscal 2013, 2.4% in Fiscal 2012 and 2.6% in Fiscal 2011. When Utilities retires depreciable utility plant and equipment, we charge the original cost to accumulated depreciation for financial accounting purposes. | ||||||||||||
We include in property, plant and equipment costs associated with computer software we develop or obtain for use in our businesses. We amortize computer software costs on a straight-line basis over expected periods of benefit not exceeding fifteen years once the installed software is ready for its intended use. | ||||||||||||
No depreciation expense is included in cost of sales in the Consolidated Statements of Income. | ||||||||||||
Goodwill | ||||||||||||
Our goodwill is the result of business acquisitions. We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is the operating segment, or a business one level below the operating segment (a component) if discrete financial information is prepared and regularly reviewed by segment management. Components are aggregated as a single reporting unit if they have similar economic characteristics. We are required to recognize an impairment charge under GAAP if the carrying amount of a reporting unit exceeds its fair value and the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill. GAAP also permits us under certain circumstances to assess qualitative factors to determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying value. No provisions for goodwill impairments were recorded during Fiscal 2013, Fiscal 2012 or Fiscal 2011. | ||||||||||||
Impairment of Long-Lived Assets | ||||||||||||
We evaluate the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We evaluate recoverability based upon undiscounted future cash flows expected to be generated by such assets. No provisions for impairments were recorded during Fiscal 2013, Fiscal 2012 or Fiscal 2011. | ||||||||||||
Employee Retirement Plans | ||||||||||||
We use a market-related value of plan assets and an expected long-term rate of return to determine the expected return on assets of our pension and other postretirement plans. The market-related value of plan assets, other than equity investments, is based upon fair values. The market-related value of equity investments is calculated by rolling forward the prior-year’s market-related value with contributions, disbursements and the expected return on plan assets. One third of the difference between the expected and the actual value is then added to or subtracted from the expected value to determine the new market-related value (see Note 9). | ||||||||||||
Equity-Based Compensation | ||||||||||||
All of our equity-based compensation, principally comprising UGI stock options and grants of UGI stock-based equity instruments (“Units”), is measured at fair value on the grant date, date of modification or end of the period, as applicable. Compensation expense is recognized on a straight-line basis over the requisite service period. Depending upon the settlement terms of the awards, equity-based compensation costs are measured based upon the fair value of the award on the date of grant or the fair value of the award as of the end of each reporting period. | ||||||||||||
For additional information on our equity-based compensation plans and related disclosures, see Note 11. | ||||||||||||
Environmental Matters | ||||||||||||
We are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current or former operating sites. | ||||||||||||
Environmental reserves are accrued when assessments indicate that it is probable that a liability has been incurred and an amount can reasonably be estimated. Amounts recorded as environmental liabilities on the balance sheets represent our best estimate of costs expected to be incurred or, if no best estimate can be made, the minimum liability associated with a range of expected environmental investigation and remediation costs. Our estimated liability for environmental contamination is reduced to reflect anticipated participation of other responsible parties but is not reduced for possible recovery from insurance carriers. In those instances for which the amount and timing of cash payments associated with environmental investigation and cleanup are reliably determinable, we discount such liabilities to reflect the time value of money. We intend to pursue recovery of incurred costs through all appropriate means, including regulatory relief. UGI Gas is permitted to amortize as removal costs site-specific environmental investigation and remediation costs, net of related third-party payments, associated with Pennsylvania sites. UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of such prudently incurred remediation costs, and CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites. For further information, see Note 12. |
Accounting_Changes
Accounting Changes | 12 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Accounting Changes | ' |
ACCOUNTING CHANGES | |
New Accounting Standards Not Yet Adopted | |
Disclosures about Reclassifications Out of Accumulated Other Comprehensive Income. In February 2013, the FASB issued new accounting guidance regarding disclosures for items reclassified out of AOCI. The new disclosure guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2012. The new disclosures are to be applied prospectively, and early adoption is permitted. We will adopt the new guidance in Fiscal 2014. As this guidance provides only disclosure requirements, the adoption of this standard will not impact our results of operations, cash flows or financial position. | |
Disclosures about Offsetting Assets and Liabilities. In December 2011 (and amended in January 2013), the FASB issued new accounting guidance requiring entities to disclose both gross and net information about recognized derivative instruments that are offset on the balance sheet or subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset on the balance sheet. The new guidance is effective for annual reporting periods beginning on or after January 1, 2013 and interim periods within those annual periods, and is required to be applied retrospectively. We will adopt the new guidance in Fiscal 2014. As this guidance provides only disclosure requirements, the adoption of this standard will not impact our results of operations, cash flows or financial position. |
Regulatory_Assets_and_Liabilit
Regulatory Assets and Liabilities and Regulatory Matters | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Regulated Operations [Abstract] | ' | ||||||||
Regulatory Assets and Liabilities and Regulatory Matters | ' | ||||||||
REGULATORY ASSETS AND LIABILITIES AND REGULATORY MATTERS | |||||||||
The following regulatory assets and liabilities associated with Utilities are included in our accompanying Consolidated Balance Sheets at September 30: | |||||||||
2013 | 2012 | ||||||||
Regulatory assets: | |||||||||
Income taxes recoverable | $ | 106,069 | $ | 103,172 | |||||
Underfunded pension and postretirement plans | 94,515 | 188,222 | |||||||
Environmental costs | 17,054 | 16,812 | |||||||
Deferred fuel and power costs | 8,283 | 11,602 | |||||||
Removal costs, net | 13,333 | 12,718 | |||||||
Other | 5,657 | 5,879 | |||||||
Total regulatory assets | $ | 244,911 | $ | 338,405 | |||||
Regulatory liabilities: | |||||||||
Postretirement benefits | $ | 16,497 | $ | 13,147 | |||||
Environmental overcollections | 2,552 | 2,883 | |||||||
Deferred fuel and power refunds | 8,283 | 4,435 | |||||||
State tax benefits — distribution system repairs | 8,453 | 7,385 | |||||||
Other | 1,502 | 494 | |||||||
Total regulatory liabilities | $ | 37,287 | $ | 28,344 | |||||
Income taxes recoverable. This regulatory asset is the result of recording deferred tax liabilities pertaining to temporary tax differences principally as a result of the pass through to ratepayers of accelerated tax depreciation for state income tax purposes, and the flow through of accelerated tax depreciation for federal income tax purposes for certain years prior to 1981. These deferred taxes have been reduced by deferred tax assets pertaining to utility deferred investment tax credits. Utilities has recorded regulatory income tax assets related to these deferred tax liabilities representing future revenues recoverable through the ratemaking process over the average remaining depreciable lives of the associated property ranging from 1 to approximately 50 years. | |||||||||
Underfunded pension and other postretirement plans. This regulatory asset represents the portion of prior service cost and net actuarial losses associated with pension and other postretirement benefits which are probable of being recovered through future rates based upon established regulatory practices. These regulatory assets are adjusted annually or more frequently under certain circumstances when the funded status of the plans is recorded in accordance with GAAP. These costs are amortized over the average remaining future service lives of plan participants. | |||||||||
Environmental costs. Environmental costs represent amounts actually spent by UGI Gas to clean up sites in Pennsylvania as well as the portion of estimated probable future environmental remediation and investigation costs principally at manufactured gas plant (“MGP”) sites that CPG and PNG expect to incur in conjunction with remediation consent orders and agreements with the Pennsylvania Department of Environmental Protection (see Note 12). UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of prudently incurred remediation costs at Pennsylvania sites. PNG and CPG are currently recovering and expect to continue to recover environmental remediation and investigation costs in base rate revenues. At September 30, 2013, the period over which PNG and CPG expect to recover these costs will depend upon future remediation activity. | |||||||||
Deferred fuel and power — costs and refunds. Gas Utility’s and Electric Utility’s tariffs contain clauses which permit recovery of all prudently incurred purchased gas and power costs through the application of purchased gas cost (“PGC”) rates in the case of Gas Utility and delivery service (“DS”) tariffs in the case of Electric Utility. The clauses provide for periodic adjustments to PGC and DS rates for differences between the total amount of purchased gas and electric generation supply costs collected from customers and recoverable costs incurred. Net undercollected costs are classified as a regulatory asset and net overcollections are classified as a regulatory liability. | |||||||||
Gas Utility uses derivative financial instruments to reduce volatility in the cost of gas it purchases for firm- residential, commercial and industrial (“retail core-market”) customers. Realized and unrealized gains or losses on natural gas derivative financial instruments are included in deferred fuel costs or refunds. Net unrealized gains (losses) on such contracts at September 30, 2013 and 2012, were $(1,743) and $5,303, respectively. | |||||||||
Electric Utility enters into forward electricity purchase contracts to meet a substantial portion of its electricity supply needs. Because these contracts do not qualify for the normal purchases and normal sales exception under GAAP related to derivative financial instruments, these contracts are recognized on the balance sheet at fair value with an associated adjustment to regulatory assets or liabilities in accordance with GAAP relating to rate-regulated entities. At September 30, 2013 and 2012, the fair values of Electric Utility’s electricity supply contracts were losses of $4,759 and $9,207, respectively, which amounts are reflected in current derivative financial instruments and other noncurrent liabilities on the Consolidated Balance Sheets with equal and offsetting amounts reflected in deferred fuel and power costs in the table above. | |||||||||
In order to reduce volatility associated with a substantial portion of its electric transmission congestion costs, Electric Utility obtains FTRs. FTRs are derivative financial instruments that entitle the holder to receive compensation for electricity transmission congestion charges when there is insufficient electricity transmission capacity on the electric transmission grid. Because Electric Utility is entitled to fully recover its DS costs, realized and unrealized gains or losses on FTRs are included in deferred fuel and power costs or deferred fuel and power refunds. At September 30, 2013 and 2012, such gains or losses were not material. | |||||||||
Removal costs, net. This regulatory asset represents costs incurred, net of salvage, associated with the retirement of depreciable utility plant. At September 30, 2013, UGI Utilities expects to recover these costs over periods of 1 to 5 years. | |||||||||
Postretirement benefits. Gas Utility and Electric Utility are recovering ongoing postretirement benefit costs at amounts permitted by the PUC in prior base rate proceedings. With respect to UGI Gas and Electric Utility, the difference between the amounts recovered through rates and the actual costs incurred in accordance with accounting for postretirement benefits are being deferred for future refund to or recovery from ratepayers. Such amounts are reflected in regulatory liabilities in the table above. In addition, this regulatory liability includes the portion of prior service credits and net actuarial gains associated with certain other postretirement benefit plans. | |||||||||
Environmental overcollections. This regulatory liability represents the difference between amounts recovered in rates and actual costs incurred (net of insurance proceeds) associated with the terms of a consent order agreement between CPG and the Pennsylvania Department of Environmental Protection to remediate certain gas plant sites. | |||||||||
State income tax benefits — distribution system repairs. This regulatory liability represents Pennsylvania state income tax benefits, net of federal income tax expense, resulting from the deduction for income tax purposes of repair and maintenance costs associated with Gas Utility or Electric Utility assets which are capitalized for regulatory and GAAP reporting. The tax benefits associated with these repair and maintenance deductions will be reflected as a reduction to income tax expense over the remaining tax lives of the related book assets. | |||||||||
Other. Other regulatory assets comprise a number of items including, among others, deferred postretirement costs, deferred asset retirement costs, deferred rate case expenses, customer choice implementation costs and deferred software development costs. At September 30, 2013, UGI Utilities expects to recover these costs over periods of approximately 1 to 5 years. | |||||||||
UGI Utilities’ regulatory liabilities relating to postretirement benefits, environmental overcollections and state tax benefits — distribution system repairs are included in other noncurrent liabilities on the Consolidated Balance Sheets. UGI Utilities does not recover a rate of return on its regulatory assets. | |||||||||
Other Regulatory Matters | |||||||||
Allentown, Pennsylvania Natural Gas Incident. On February 19, 2013, the PUC entered a final order (the “Final Order”) settling all regulatory compliance issues pertaining to a natural gas explosion on February 9, 2011, in Allentown, PA. The Final Order requires UGI Utilities to (i) pay a civil penalty in the amount of $500; (ii) conduct a pilot new technology leak detection program in Allentown; and (iii) accept new reporting requirements governing its agreed upon 14-year cast iron and 30-year bare steel pipeline replacement program and distribution integrity management program. The Final Order makes no findings that UGI Utilities has violated any regulation or operating procedure. The Company does not believe that the cost of complying with the requirements of the Final Order will have a material impact on UGI Utilities’ consolidated financial position, results of operations or cash flows. | |||||||||
CPG Base Rate Filing. On August 11, 2011, the PUC approved a settlement agreement with CPG that resulted in an increase in annual base rate revenues of $8,000 as well as $900 in revenues per year to fund system improvements and operations necessary to maintain safe and reliable natural gas service and fund new programs that would provide rebates and other incentives for customers to install new high-efficiency equipment (collectively, “Energy and Efficiency Conservation Program”). The increase became effective August 30, 2011. During Fiscal 2012, the PUC reversed its earlier decision related to the $900 increase in revenue associated with the Energy and Efficiency Conservation Program and required CPG to refund revenue it had collected for that program. | |||||||||
Transfers of Assets. On February 1, 2012, CPG filed an application with the PUC for review and approval of the transfer of an 11-mile natural gas pipeline, related facilities and right of way located in Delmar Township, Pennsylvania (“TL-96 line”) to Energy Services. The PUC approved the transfer and in April 2013, the TL-96 line was dividended to UGI and subsequently contributed to Energy Services. The net book value of the TL-96 line was approximately $2,650 which amount, net of related deferred income taxes of $384, is reflected as a dividend of net assets on the Fiscal 2013 Consolidated Statement of Stockholder’s Equity. | |||||||||
On October 21, 2010, the Federal Energy Regulatory Commission (“FERC”) approved and later affirmed CPG’s application to abandon a storage service and approved the transfer of its Tioga, Meeker and Wharton natural gas storage facilities, along with related assets, to UGI Storage Company, a subsidiary of UGI Energy Services, Inc. (“Energy Services”), a second-tier wholly owned subsidiary of UGI. The PUC approved the transfer subject to, among other things, a reduction in base rates and CPG’s agreement to charge PGC customers, for a period of three years, no more for storage services from the transferred assets than they would have paid before the transfer, to the extent used. On April 1, 2011, the storage facilities were dividended to UGI and subsequently contributed to UGI Storage Company. The net book value of the storage facility assets transferred was $10,949 which amount, net of related deferred taxes of $308, is reflected as a dividend of net assets on the Fiscal 2011 Consolidated Statement of Stockholder’s Equity. Compliance with the provisions of the PUC Order approving the transfer of the storage assets did not have a material impact on the results of operations of Gas Utility. Concurrent with the April 1, 2011 transfer, CPG entered into a one-year firm storage service agreement with UGI Storage Company. | |||||||||
On December 1, 2010, PNG filed an application with the PUC for expedited review and approval of the transfer of a 9 mile natural gas pipeline, related facilities, and right of way located in Mehoopany, Pennsylvania (the “Auburn Line”) to Energy Services. The PUC approved the transfer and in September 2011 the Auburn Line was dividended to UGI and subsequently contributed to Energy Services. The net book value of the Auburn Line was $1,109 which amount, net of related deferred taxes of $180, is reflected as a dividend of net assets on the Fiscal 2011 Consolidated Statement of Stockholder’s Equity. |
Inventories
Inventories | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
INVENTORIES | ||||||||
Inventories comprise the following at September 30: | ||||||||
2013 | 2012 | |||||||
Gas Utility natural gas | $ | 78,950 | $ | 57,663 | ||||
Materials, supplies and other | 10,711 | 9,671 | ||||||
Total inventories | $ | 89,661 | $ | 67,334 | ||||
At September 30, 2013, UGI Utilities is a party to three principal storage contract administrative agreements (“SCAAs”) with Energy Services, Inc. (“Energy Services”), a second-tier, wholly owned subsidiary of UGI, one of which expired in October 2013 and two of which expire in October 2015. Pursuant to SCAAs, UGI Utilities has, among other things, released certain storage and transportation contracts for the terms of the SCAAs. UGI Utilities also transferred certain associated storage inventories upon commencement of the SCAAs, will receive a transfer of storage inventories at the end of the SCAAs, and makes payments associated with refilling storage inventories during the terms of the SCAAs. The historical cost of natural gas storage inventories released under the SCAAs, which represent a portion of Gas Utility’s total natural gas storage inventories, and any exchange receivables (representing amounts of natural gas inventories used by the other parties to the agreement but not yet replenished), are included in the caption “Gas Utility natural gas” in the table above. The carrying value of gas storage inventories released under the SCAAs at September 30, 2013 and 2012, comprising 11.0 billion cubic feet (“bcf”) and 11.4 bcf of natural gas was $44,366 and $32,627, respectively. At September 30, 2013 and 2012, UGI Utilities held a total of $16,500 and $22,500, respectively, of security deposits received from its SCAA counterparties. These amounts are included in other current liabilities on the Consolidated Balance Sheets. Effective November 1, 2013, UGI Utilities entered into two new SCAAs having terms of one and three years (see Note 17). |
Property_Plant_and_Equipment
Property Plant and Equipment | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
PROPERTY, PLANT AND EQUIPMENT | ||||||||
Property, plant and equipment comprise the following categories at September 30: | ||||||||
2013 | 2012 | |||||||
Distribution | $ | 2,162,580 | $ | 2,047,780 | ||||
Transmission | 86,623 | 85,430 | ||||||
General and other, including construction in process | 178,607 | 162,459 | ||||||
Total property, plant and equipment | $ | 2,427,810 | $ | 2,295,669 | ||||
Debt
Debt | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Debt | ' | |||||||
DEBT | ||||||||
Long-term debt comprises the following at September 30: | ||||||||
2013 | 2012 | |||||||
Term Loan Credit Agreement | $ | 175,000 | $ | — | ||||
Senior Notes: | ||||||||
6.375%, due September 2013 | — | 108,000 | ||||||
5.75%, due September 2016 | 175,000 | 175,000 | ||||||
6.21%, due September 2036 | 100,000 | 100,000 | ||||||
Medium-Term Notes: | ||||||||
5.37%, due August 2013 | — | 25,000 | ||||||
5.16%, due May 2015 | 20,000 | 20,000 | ||||||
7.37%, due October 2015 | 22,000 | 22,000 | ||||||
5.64%, due December 2015 | 50,000 | 50,000 | ||||||
6.17%, due June 2017 | 20,000 | 20,000 | ||||||
7.25%, due November 2017 | 20,000 | 20,000 | ||||||
5.67%, due January 2018 | 20,000 | 20,000 | ||||||
6.50%, due August 2033 | 20,000 | 20,000 | ||||||
6.13%, due October 2034 | 20,000 | 20,000 | ||||||
Total long-term debt | 642,000 | 600,000 | ||||||
Less: current maturities | — | (133,000 | ) | |||||
Total long-term debt due after one year | $ | 642,000 | $ | 467,000 | ||||
Principal payments on long-term debt during the next five fiscal years is as follows: $0 is due in Fiscal 2014; $20,000 is due in Fiscal 2015; $247,000 is due in Fiscal 2016; $20,000 is due in Fiscal 2017; and $40,000 is due in Fiscal 2018. The $175,000 outstanding under the Term Loan Credit Agreement that is expected to be refinanced on a long-term basis prior to its maturity and is excluded from these repayment amounts (see below). | ||||||||
In September 2013, UGI Utilities entered into a 364-day term loan credit agreement (“Term Loan Credit Agreement”) with a bank comprising a $175,000 unsecured term loan facility. The Term Loan Credit Agreement bears interest at the eurodollar rate for the interest period selected, plus a margin of 0.60%. The Term Loan Credit Agreement terminates on September 22, 2014, but UGI Utilities may prepay the loan in whole or in part, without penalty. UGI Utilities borrowed $175,000 on September 30, 2013, under the Term Loan Credit Agreement which cash proceeds were used to repay UGI Utilities’ $108,000 6.375% Senior Notes due September 30, 2013, and for other general corporate purposes. On October 30, 2013, UGI Utilities entered into a Note Purchase Agreement which provides for the private placement of $175,000 aggregate principal amount of 4.98% Senior Notes due March 26, 2044. UGI Utilities expects to issue $175,000 face amount of 4.98% Senior Notes in March 2014 and use the net proceeds to repay then-outstanding borrowings under the Term Loan Credit Agreement. Because the Company has the intent and ability to refinance the Term Loan Credit Agreement on a long-term basis, amounts outstanding under the Term Loan Credit Agreement are classified as long-term on the September 30, 2013, Consolidated Balance Sheet. | ||||||||
UGI Utilities has an unsecured credit agreement (the “UGI Utilities Credit Agreement”) with a group of banks providing for borrowings of up to $300,000 (including a $100,000 sublimit for letters of credit) which expires in October 2015. Under the UGI Utilities Credit Agreement, UGI Utilities may borrow at various prevailing market interest rates, including LIBOR and the banks’ prime rate, plus a margin. The margin on such borrowings ranges from 0.0% to 2.0% and is based upon the credit ratings of certain indebtedness of UGI Utilities. UGI Utilities had borrowings outstanding under the UGI Utilities Credit Agreement, which we classify as bank loans on the Consolidated Balance Sheets, totaling $17,500 and $9,200 at September 30, 2013 and 2012, respectively. The weighted-average interest rates on the UGI Utilities Credit Agreement borrowings at September 30, 2013 and 2012 were 1.18% and 1.21%, respectively. Issued and outstanding letters of credit, which reduce available borrowings under the UGI Utilities Credit Agreement, totaled $2,000 at September 30, 2013 and 2012. | ||||||||
The UGI Utilities Credit Agreement requires UGI Utilities not to exceed a ratio of Consolidated Debt to Consolidated Total Capital, as defined. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
The provisions for income taxes consist of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current expense (benefit): | ||||||||||||
Federal | $ | 21,807 | $ | (909 | ) | $ | 10,447 | |||||
State | 11,824 | 2,735 | 2,227 | |||||||||
Total current expense | 33,631 | 1,826 | 12,674 | |||||||||
Deferred expense: | ||||||||||||
Federal | 33,349 | 48,336 | 48,967 | |||||||||
State | 2,274 | 5,257 | 2,207 | |||||||||
Investment tax credit amortization | (342 | ) | (346 | ) | (351 | ) | ||||||
Total income tax expense | $ | 68,912 | $ | 55,073 | $ | 63,497 | ||||||
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Difference in tax rate due to: | ||||||||||||
State income taxes, net of federal | 5.4 | 4.1 | 1.6 | |||||||||
Other, net | (0.1 | ) | (0.6 | ) | 1 | |||||||
Effective tax rate | 40.3 | % | 38.5 | % | 37.6 | % | ||||||
Pennsylvania utility ratemaking practice permits the flow through to ratepayers of state tax benefits resulting from accelerated tax depreciation. For Fiscal 2013, Fiscal 2012 and Fiscal 2011, the beneficial effects of state tax flow through of accelerated depreciation reduced tax expense by $1,538, $3,198 and $7,926, respectively. The state tax flow through amounts in Fiscal 2012 and Fiscal 2011 reflect the impact of 2010 U.S. Federal tax legislation that allowed taxpayers to fully deduct qualifying capital expenditures incurred after September 8, 2010, through the end of calendar 2011, when such property is placed in service before 2012. This legislation was also permitted for Pennsylvania state corporate income tax purposes. | ||||||||||||
Deferred tax liabilities (assets) comprise the following at September 30: | ||||||||||||
2013 | 2012 | |||||||||||
Excess book basis over tax basis of property, plant and equipment | $ | 362,259 | $ | 330,937 | ||||||||
Goodwill | 31,516 | 26,998 | ||||||||||
Regulatory assets | 101,622 | 140,416 | ||||||||||
Other | 949 | 601 | ||||||||||
Gross deferred tax liabilities | 496,346 | 498,952 | ||||||||||
Pension plan liabilities | (35,996 | ) | (72,652 | ) | ||||||||
Allowance for doubtful accounts | (2,290 | ) | (1,489 | ) | ||||||||
Deferred investment tax credits | (1,772 | ) | (1,914 | ) | ||||||||
Employee-related expenses | (5,850 | ) | (4,859 | ) | ||||||||
Regulatory liabilities | (15,472 | ) | (11,761 | ) | ||||||||
Environmental liabilities | (7,002 | ) | (7,195 | ) | ||||||||
Derivative financial instruments | (3,397 | ) | (16,264 | ) | ||||||||
Other | (1,922 | ) | (12,202 | ) | ||||||||
Gross deferred tax assets | (73,701 | ) | (128,336 | ) | ||||||||
Net deferred tax liabilities | $ | 422,645 | $ | 370,616 | ||||||||
We join with UGI and its subsidiaries in filing a consolidated federal income tax return. We are charged or credited for our share of current taxes resulting from the effects of our transactions in the UGI consolidated federal income tax return including giving effect to intercompany transactions. UGI’s federal income tax returns are settled through the tax year 2009. | ||||||||||||
We file separate company income tax returns in a number of states but are subject to state income tax principally in Pennsylvania. Pennsylvania income tax returns are generally subject to examination for a period of three years after the filing of the respective returns. As of September 30, 2013, we have $18,271 of Pennsylvania net operating loss carryforwards that expire through 2029. | ||||||||||||
During Fiscal 2013, Fiscal 2012 and Fiscal 2011, interest (income) expense of $0, $(209) and $219, respectively, was recognized in income taxes in the Consolidated Statements of Income. As of September 30, 2013, we have unrecognized income tax benefits totaling $1,143 including related accrued interest of $56. If these unrecognized tax benefits were subsequently recognized, $56 would be recorded as a benefit to income taxes on the consolidated statement of income and, therefore, would impact the effective tax rate. Generally, a net reduction in unrecognized tax benefits could occur because of expiration of the statute of limitations in certain jurisdictions or as a result of settlements with tax authorities. Included in the balance at September 30, 2013, are $1,087 of tax positions for which the deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. Because of the impact of deferred tax accounting, the disallowance of the current deduction would not affect the annual effective tax rate but would accelerate the payment of cash to the taxing authority to an earlier period. There is an expected change in unrecognized tax benefits and related interest in the next twelve months in the amount of $43. | ||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: | ||||||||||||
Balance at September 30, 2010 | $ | 4,194 | ||||||||||
Additions for tax positions of the current year | 920 | |||||||||||
Settlements with tax authorities | (216 | ) | ||||||||||
Balance at September 30, 2011 | 4,898 | |||||||||||
Additions for tax positions of prior years | 81 | |||||||||||
Settlements with tax authorities | (3,931 | ) | ||||||||||
Balance at September 30, 2012 | 1,048 | |||||||||||
Additions for tax positions of prior years | 39 | |||||||||||
Balance at September 30, 2013 | $ | 1,087 | ||||||||||
In accordance with accounting guidance regarding uncertain tax positions, during Fiscal 2013 and Fiscal 2012, the Company added $39 and $124, respectively, to its liability for unrecognized tax benefits including interest related to its change in method of accounting for capitalizing certain repairs and maintenance costs associated with its Gas Utility and Electric Utility assets beginning with the tax year ended September 30, 2009. However, because this tax matter relates only to the timing of deductibility, we have recorded an offsetting deferred tax asset of an equal amount. For further information regarding the regulatory impact of this change, see Note 4. |
Employee_Retirement_Plans
Employee Retirement Plans | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||||||||||||||
Employee Retirement Plans | ' | |||||||||||||||||||||||
EMPLOYEE RETIREMENT PLANS | ||||||||||||||||||||||||
Defined Benefit Pension and Other Postretirement Plans | ||||||||||||||||||||||||
We currently sponsor one defined benefit pension plan for employees hired prior to January 1, 2009, of UGI, UGI Utilities, PNG, CPG and certain of UGI’s other domestic wholly owned subsidiaries (“Pension Plan”). In addition, we provide postretirement health care benefits to certain retirees and postretirement life insurance benefits to nearly all active and retired employees. | ||||||||||||||||||||||||
The following table provides a reconciliation of the projected benefit obligations (“PBOs”) of the Pension Plan, the accumulated benefit obligations (“ABOs”) of our other postretirement benefit plans, plan assets and the funded status of the Pension Plan and other postretirement plans as of September 30, 2013 and 2012. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect future compensation. | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||
Benefit obligations — beginning of year | $ | 543,605 | $ | 456,714 | $ | 14,560 | $ | 13,333 | ||||||||||||||||
Service cost | 9,385 | 8,063 | 223 | 162 | ||||||||||||||||||||
Interest cost | 22,784 | 24,095 | 587 | 665 | ||||||||||||||||||||
Actuarial (gain) loss | (69,112 | ) | 74,676 | (1,881 | ) | 1,464 | ||||||||||||||||||
Plan amendments | 993 | — | (1,836 | ) | — | |||||||||||||||||||
Benefits paid | (21,187 | ) | (19,943 | ) | (965 | ) | (1,064 | ) | ||||||||||||||||
Benefit obligations — end of year | $ | 486,468 | $ | 543,605 | $ | 10,688 | $ | 14,560 | ||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of plan assets — beginning of year | $ | 351,543 | $ | 289,764 | $ | 11,205 | $ | 9,805 | ||||||||||||||||
Actual gain on assets | 45,450 | 50,550 | 1,117 | 1,741 | ||||||||||||||||||||
Employer contributions | 22,365 | 31,172 | 366 | 723 | ||||||||||||||||||||
Benefits paid | (21,187 | ) | (19,943 | ) | (965 | ) | (1,064 | ) | ||||||||||||||||
Fair value of plan assets — end of year | $ | 398,171 | $ | 351,543 | $ | 11,723 | $ | 11,205 | ||||||||||||||||
Funded status of the plans — end of year | $ | (88,297 | ) | $ | (192,062 | ) | $ | 1,035 | $ | (3,355 | ) | |||||||||||||
(Liabilities) recorded in the balance sheet: | ||||||||||||||||||||||||
Assets in excess of liabilities — included in other noncurrent assets | $ | — | $ | — | $ | 3,252 | $ | — | ||||||||||||||||
Unfunded liabilities — included in other current liabilities | (17,885 | ) | (15,802 | ) | (372 | ) | (654 | ) | ||||||||||||||||
Unfunded liabilities — included in other noncurrent liabilities | (70,412 | ) | (176,260 | ) | (1,844 | ) | (2,701 | ) | ||||||||||||||||
Net amount recognized | $ | (88,297 | ) | $ | (192,062 | ) | $ | 1,036 | $ | (3,355 | ) | |||||||||||||
Amounts recorded in stockholder’s equity (pre-tax): | ||||||||||||||||||||||||
Prior service cost (credit) | $ | 222 | $ | 152 | $ | (74 | ) | $ | (79 | ) | ||||||||||||||
Net actuarial loss (gain) | 9,113 | 18,099 | (222 | ) | 164 | |||||||||||||||||||
Total | $ | 9,335 | $ | 18,251 | $ | (296 | ) | $ | 85 | |||||||||||||||
Amounts recorded in regulatory assets and liabilities (pre-tax): | ||||||||||||||||||||||||
Prior service cost (credit) | $ | 2,223 | $ | 1,550 | $ | (4,286 | ) | $ | (2,766 | ) | ||||||||||||||
Net actuarial loss | 91,275 | 184,464 | 3,586 | 5,815 | ||||||||||||||||||||
Total | $ | 93,498 | $ | 186,014 | $ | (700 | ) | $ | 3,049 | |||||||||||||||
In Fiscal 2014, we estimate that we will amortize approximately $6,800 of net actuarial losses, primarily associated with Pension Plan, and $300 of prior service credits from stockholder’s equity and regulatory assets. | ||||||||||||||||||||||||
Actuarial assumptions are described below. The discount rate assumption was determined by selecting a hypothetical portfolio of high quality corporate bonds appropriate to provide for the projected benefit payments of the Company postretirement plans. The discount rate was then developed as the single rate that equates the market value of the bonds purchased to the discounted value of the benefit payments. The expected rate of return on assets assumption is based on the current and expected asset allocations as well as historical and expected returns on various categories of plan assets as further described below. | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
Weighted-average assumptions: | 2013 | 2012 | 2011 (a) | 2013 | 2012 | 2011 | ||||||||||||||||||
Discount rate - benefit obligations | 5.2 | % | 4.2 | % | 5.3 | % | 5.10% - 5.40% | 4.10% - 4.30% | 5.3 | % | ||||||||||||||
Discount rate - benefit cost | 4.2 | % | 5.3 | % | 5 | % | 4.10% - 4.30% | 5.3 | % | 5 | % | |||||||||||||
Expected return on plan assets | 7.75 | % | 7.75 | % | 8 | % | 5 | % | 5.2 | % | 5.5 | % | ||||||||||||
Rate of increase in salary levels | 3.25 | % | 3.25 | % | 3.5 | % | 3.25 | % | 3.25 | % | 3.5 | % | ||||||||||||
(a) Effective December 31, 2010, we merged our then-existing two U.S. defined benefit pension plans (“Pension Plans Merger”) to form the Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the Pension Plans Merger) and 5.5% for the remainder of Fiscal 2011. | ||||||||||||||||||||||||
The ABOs for the Pension Plan were $451,228 and $496,395 as of September 30, 2013 and 2012, respectively. Included in the end of year Pension Plan PBOs above are $44,161 at September 30, 2013, and $48,570 at September 30, 2012, relating to employees of UGI and certain of its other subsidiaries. Included in the end of year other postretirement plans ABOs above are $787 at September 30, 2013, and $869 at September 30, 2012, relating to employees of UGI and certain of its other subsidiaries. | ||||||||||||||||||||||||
Net periodic pension and other postretirement benefit costs relating to the Company’s employees include the following components: | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
Service cost | $ | 8,211 | $ | 7,025 | $ | 7,176 | $ | 205 | $ | 152 | $ | 202 | ||||||||||||
Interest cost | 20,783 | 22,376 | 22,047 | 557 | 639 | 678 | ||||||||||||||||||
Expected return on assets | (24,791 | ) | (23,762 | ) | (23,937 | ) | (529 | ) | (481 | ) | (523 | ) | ||||||||||||
Curtailment gain | — | — | — | — | — | (3,245 | ) | |||||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service cost (benefit) | 249 | 249 | 302 | (420 | ) | (422 | ) | (694 | ) | |||||||||||||||
Actuarial loss | 13,463 | 7,853 | 6,838 | 336 | 355 | 427 | ||||||||||||||||||
Net benefit cost (income) | 17,915 | 13,741 | 12,426 | 149 | 243 | (3,155 | ) | |||||||||||||||||
Change in associated regulatory liabilities | — | — | — | 3,302 | 3,188 | 3,138 | ||||||||||||||||||
Benefit cost (income) after change in regulatory liabilities | $ | 17,915 | $ | 13,741 | $ | 12,426 | $ | 3,451 | $ | 3,431 | $ | (17 | ) | |||||||||||
Pension Plan assets are held in trust. It is our general policy to fund amounts for Pension Plan benefits equal to at least the minimum contribution required by ERISA. From time to time we may, at our discretion, contribute additional amounts. During Fiscal 2013, Fiscal 2012 and Fiscal 2011, we made contributions to the Pension Plan of $22,365, $31,172 and $18,718, respectively. We believe that in Fiscal 2014 we will be required to make contributions to the Pension Plan of approximately $17,900. | ||||||||||||||||||||||||
UGI Utilities has established a Voluntary Employees’ Beneficiary Association (“VEBA”) trust to pay retiree health care and life insurance benefits by depositing into the VEBA the annual amount of postretirement benefits costs determined under GAAP. The difference between such amounts calculated under GAAP and the amounts included in UGI Gas’ and Electric Utility’s rates is deferred for future recovery from, or refund to, ratepayers. The required contribution to the VEBA during Fiscal 2014 is not expected to be material. | ||||||||||||||||||||||||
Expected payments for pension benefits and other postretirement welfare benefits are as follows: | ||||||||||||||||||||||||
Pension | Other | |||||||||||||||||||||||
Benefits | Postretirement | |||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
Fiscal 2014 | $ | 23,021 | $ | 1,006 | ||||||||||||||||||||
Fiscal 2015 | 24,095 | 813 | ||||||||||||||||||||||
Fiscal 2016 | 25,238 | 769 | ||||||||||||||||||||||
Fiscal 2017 | 26,451 | 706 | ||||||||||||||||||||||
Fiscal 2018 | 27,744 | 676 | ||||||||||||||||||||||
Fiscal 2019 - 2023 | 155,907 | 3,156 | ||||||||||||||||||||||
The assumed health care cost trend rates for Fiscal 2013 are 7.0% decreasing to 5.0% in Fiscal 2017. The assumed health care cost trend rates as of September 30, 2013, are 7.5% decreasing to 5.0% in Fiscal 2019. A one percentage point change in these assumed health care cost trend rates would not have had a material impact on Fiscal 2013 other postretirement benefit cost or the September 30, 2013, other postretirement benefit ABO. | ||||||||||||||||||||||||
We also sponsor unfunded and non-qualified supplemental executive retirement income plans. At September 30, 2013 and 2012, the projected benefit obligations of these plan were $3,550 and $2,507, respectively. We recorded expense for these plans of $498 in Fiscal 2013, $255 in Fiscal 2012 and $583 in Fiscal 2011. | ||||||||||||||||||||||||
Pension Plan and VEBA Assets. The assets of the Pension Plan and the VEBA are held in trust. The investment policies and asset allocation strategies for the assets in these trusts are determined by an investment committee comprising officers of UGI and UGI Utilities. The overall investment objective of the Pension Plan and the VEBA is to achieve the best long-term rates of return within prudent and reasonable levels of risk. To achieve the stated objective, investments are made principally in publicly traded, diversified equity and fixed income mutual funds and UGI Common Stock. | ||||||||||||||||||||||||
The targets, target ranges and actual allocations for the Pension Plan and VEBA trust assets at September 30 are as follows: | ||||||||||||||||||||||||
Target | ||||||||||||||||||||||||
Actual | Asset | Permitted | ||||||||||||||||||||||
Pension Plan: | 2013 | 2012 | Allocation | Range | ||||||||||||||||||||
Equity investments: | ||||||||||||||||||||||||
Domestic | 57.5 | % | 53.5 | % | 52.5 | % | 40.0% - 65.0% | |||||||||||||||||
International | 11.1 | % | 10.5 | % | 12.5 | % | 7.5% - 17.5% | |||||||||||||||||
Total | 68.6 | % | 64 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 31.4 | % | 36 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
Target | ||||||||||||||||||||||||
Actual | Asset | Permitted | ||||||||||||||||||||||
VEBA: | 2013 | 2012 | Allocation | Range | ||||||||||||||||||||
Domestic equity investments | 65.6 | % | 68.5 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 34.4 | % | 31.5 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
Domestic equity investments include investments in large-cap mutual funds indexed to the S&P 500 and actively managed mid- and small-cap mutual funds. Investments in international equity mutual funds seek to track performance of companies primarily in developed markets. The fixed income investments comprise investments designed to match the performance and duration of the Barclays U.S. Aggregate Index. According to statute, the aggregate holdings of all qualifying employer securities may not exceed 10% of the fair value of trust assets at the time of purchase. UGI Common Stock represented 8.2% and 7.5% of Pension Plan assets at September 30, 2013 and 2012, respectively. | ||||||||||||||||||||||||
GAAP establishes a hierarchy that prioritizes fair value measurements based upon the inputs and valuation techniques used to measure fair value. This fair value hierarchy groups assets into three levels, as described in Note 2. We maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value. The fair values of Pension Plan and VEBA trust assets are derived from quoted market prices as substantially all of these instruments have active markets. Cash equivalents are valued at the fund’s unit net asset value as reported by the trustee. | ||||||||||||||||||||||||
The fair values of the Pension Plan’s assets at September 30, 2013 and 2012, by asset class are as follows: | ||||||||||||||||||||||||
Pension Plan | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Domestic equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 141,774 | $ | — | $ | — | $ | 141,774 | ||||||||||||||||
Small and Midcap equity mutual funds | 54,528 | — | — | 54,528 | ||||||||||||||||||||
UGI Corporation Common Stock | 32,551 | — | — | 32,551 | ||||||||||||||||||||
Total domestic equity investments | 228,853 | — | — | 228,853 | ||||||||||||||||||||
International index equity mutual funds | 44,452 | — | — | 44,452 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 120,906 | — | — | 120,906 | ||||||||||||||||||||
Cash equivalents | — | 3,960 | — | 3,960 | ||||||||||||||||||||
Total fixed income investments | 120,906 | 3,960 | $ | — | 124,866 | |||||||||||||||||||
Total | $ | 394,211 | $ | 3,960 | $ | — | $ | 398,171 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
Equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 118,922 | $ | — | $ | — | $ | 118,922 | ||||||||||||||||
Small and Midcap equity mutual funds | 42,876 | — | — | 42,876 | ||||||||||||||||||||
UGI Corporation Common Stock | 26,445 | — | — | 26,445 | ||||||||||||||||||||
Total domestic equity investments | 188,243 | — | — | 188,243 | ||||||||||||||||||||
International index equity mutual funds | 36,908 | — | — | 36,908 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 123,332 | — | — | 123,332 | ||||||||||||||||||||
Cash equivalents | — | 3,060 | — | 3,060 | ||||||||||||||||||||
Total fixed income investments | 123,332 | 3,060 | — | 126,392 | ||||||||||||||||||||
Total | $ | 348,483 | $ | 3,060 | $ | — | $ | 351,543 | ||||||||||||||||
The fair values of the VEBA trust assets at September 30, 2013 and 2012, by asset class are as follows: | ||||||||||||||||||||||||
VEBA | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7,693 | $ | — | $ | — | $ | 7,693 | ||||||||||||||||
Bond index mutual fund | 3,794 | — | — | 3,794 | ||||||||||||||||||||
Cash equivalents | — | 236 | — | 236 | ||||||||||||||||||||
Total | $ | 11,487 | $ | 236 | $ | — | $ | 11,723 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7,678 | $ | — | $ | — | $ | 7,678 | ||||||||||||||||
Bond index mutual fund | 3,366 | — | — | 3,366 | ||||||||||||||||||||
Cash equivalents | — | 161 | — | 161 | ||||||||||||||||||||
Total | $ | 11,044 | $ | 161 | $ | — | $ | 11,205 | ||||||||||||||||
The expected long-term rates of return on Pension Plan and VEBA trust assets have been developed using a best estimate of expected returns, volatilities and correlations for each asset class. The estimates are based on historical capital market performance data and future expectations provided by independent consultants. Future expectations are determined by using simulations that provide a wide range of scenarios of future market performance. The market conditions in these simulations consider the long-term relationships between equities and fixed income as well as current market conditions at the start of the simulation. The expected rate begins with a risk-free rate of return with other factors being added such as inflation, duration, credit spreads and equity risk premiums. The rates of return derived from this process are applied to our target asset allocation to develop a reasonable return assumption. | ||||||||||||||||||||||||
Defined Contribution Plan | ||||||||||||||||||||||||
We sponsor a 401(k) savings plan for eligible employees (“Utilities Savings Plan”). Generally, participants in the Utilities Savings Plan may contribute a portion of their compensation on a before-tax and after-tax basis. The Utilities Savings Plan provides for employer matching contributions. Those employees hired after December 31, 2008, who are not eligible to participate in the Pension Plan receive employer matching contributions at a higher rate. The cost of benefits under the Utilities Savings Plan totaled $1,762 in Fiscal 2013, $1,690 in Fiscal 2012 and $1,820 in Fiscal 2011. |
Series_Preferred_Stock
Series Preferred Stock | 12 Months Ended |
Sep. 30, 2013 | |
Series Preferred Stock [Abstract] | ' |
Series Preferred Stock | ' |
SERIES PREFERRED STOCK | |
We have 2,000,000 shares of Series Preferred Stock authorized for issuance, including both series subject to and series not subject to mandatory redemption. We had no shares of Series Preferred Stock outstanding at September 30, 2013 or 2012. |
EquityBased_Compensation
Equity-Based Compensation | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||
Equity-Based Compensation | ' | ||||||||||||||||||||
EQUITY-BASED COMPENSATION | |||||||||||||||||||||
Under UGI Corporation’s 2013 Omnibus Incentive Compensation Plan (the “2013 OICP”) and prior UGI equity compensation plans, certain key employees of UGI Utilities may be granted stock options to acquire shares of UGI Common Stock, stock appreciation rights (“SARs”), UGI Units (comprising “Stock Units” and “UGI Performance Units”) and other equity-based awards. Under these plans, the exercise price for UGI stock options may not be less than the fair market value on the grant date. Awards granted under the 2013 OICP and the prior plans may vest immediately or ratably over a period of years (generally three-year periods), and stock options for UGI Common Stock can be exercised no later than ten years from the grant date. In addition, the 2013 OICP and the prior UGI equity plans provide that awards of UGI Units may also provide for the crediting of dividend equivalents to participants’ accounts. Except in the event of retirement, death or disability, each grant, unless paid, will terminate when the participant ceases to be employed. There are certain change of control and retirement eligibility conditions that, if met, generally result in accelerated vesting or elimination of further service requirements. | |||||||||||||||||||||
UGI Stock Unit and UGI Performance Unit awards entitle the grantee to shares of UGI Common Stock or cash once the service condition is met and, with respect to UGI Performance Unit awards, subject to market performance conditions. UGI Performance Unit grant recipients are awarded a target number of Performance Units. With respect to Performance Units awards, the actual number of UGI shares actually issued (or their cash equivalent) at the end of the performance period and the actual amount of dividend equivalents paid, may range from 0% to 200% of the target award based on UGI’s Total Shareholder Return (“TSR”) percentile rank relative to (i) companies in the Standard & Poor’s Utilities Index for grants prior to January 1, 2011 and (ii) the Russell Midcap Utility Index, excluding telecommunication companies, for grants on or after January 1, 2011 (each a respective “UGI comparator group”). Dividend equivalents are paid in cash only on UGI Performance Units that eventually vest. | |||||||||||||||||||||
We use a Black-Scholes option-pricing model to estimate the fair value of UGI stock options. We use a Monte Carlo valuation approach to estimate the fair value of UGI Performance Unit awards. We recorded total net pre-tax equity-based compensation expense associated with both UGI Units and UGI stock options of $1,078 ($631 after-tax) during Fiscal 2013; $783 ($458 after-tax) during Fiscal 2012; and $1,110 ($650 after-tax) during Fiscal 2011. | |||||||||||||||||||||
As of September 30, 2013, there was $682 of unrecognized compensation cost related to non-vested UGI stock options that is expected to be recognized over a weighted-average period of 2.0 years. As of September 30, 2013, there was a total of $758 of unrecognized compensation expense associated with 61,331 UGI Unit awards that is expected to be recognized over a weighted average period of 1.9 years. At September 30, 2013 and 2012, total liabilities of $360 and $143, respectively, associated with UGI Unit awards are reflected in other current liabilities and other noncurrent liabilities on the Consolidated Balance Sheets. | |||||||||||||||||||||
The following table summarizes UGI Unit award activity for Fiscal 2013: | |||||||||||||||||||||
Total | Vested | Non-Vested | |||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||
UGI | Average | UGI | Average | UGI | Average | ||||||||||||||||
Units | Grant Date | Units | Grant Date | Units | Grant Date | ||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||
(per Unit) | (per Unit) | (per Unit) | |||||||||||||||||||
September 30, 2012 | 68,633 | $ | 29.72 | 24,130 | $ | 28.78 | 44,503 | $ | 30.23 | ||||||||||||
Granted | 20,800 | $ | 38.27 | 1,797 | $ | 38.27 | 19,003 | $ | 38.27 | ||||||||||||
Vested | — | $ | — | 13,768 | $ | 26.24 | (13,768 | ) | $ | 26.24 | |||||||||||
Forfeited | (9,069 | ) | $ | 33.65 | — | $ | — | (9,069 | ) | $ | 33.65 | ||||||||||
Performance criteria not met | (7,679 | ) | $ | 22.72 | (7,679 | ) | $ | 22.72 | — | $ | — | ||||||||||
Unit awards paid | (11,354 | ) | $ | 22.72 | (11,354 | ) | $ | 22.72 | — | $ | — | ||||||||||
September 30, 2013 | 61,331 | $ | 34.21 | 20,662 | $ | 33.49 | 40,669 | $ | 34.57 | ||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Commitments | |
We lease various buildings and vehicles, computer and office equipment and other facilities under operating leases. Certain of our leases contain renewal and purchase options and also contain escalation clauses. Our aggregate rental expense for such leases was $6,270 in Fiscal 2013, $6,362 in Fiscal 2012 and $5,221 in Fiscal 2011. | |
Minimum future payments under operating leases that have initial or remaining noncancelable terms in excess of one year for the fiscal years ending September 30 are as follows: 2014— $5,518; 2015 — $4,682; 2016 — $4,220; 2017 — $2,684; 2018 — $1,992; after 2018 — $1,301. | |
Gas Utility has gas supply agreements with producers and marketers with terms not exceeding one year. Gas Utility also has agreements for firm pipeline transportation, natural gas storage and peaking service which Gas Utility may terminate at various dates through 2025. Gas Utility’s costs associated with transportation and storage service agreements are included in its annual PGC filings with the PUC and are recoverable through PGC rates. In addition, Gas Utility has short-term gas supply agreements which permit it to purchase certain of its gas supply needs on a firm or interruptible basis at spot-market prices. | |
Electric Utility purchases its electricity needs under contracts with various suppliers and on the spot market. Contracts with producers for energy needs expire at various dates through Fiscal 2014. | |
Future contractual cash obligations under Gas Utility and Electric Utility supply, storage and service agreements existing at September 30, 2013, for fiscal years ending September 30 are as follows: 2014 — $190,606; 2015 — $105,317; 2016 — $75,903; 2017 — $56,152; 2018 — $44,409; after 2018 — $114,263. | |
Contingencies | |
Environmental Matters | |
CPG is party to a Consent Order and Agreement (“CPG-COA”) with the Pennsylvania Department of Environmental Protection (“DEP”) requiring CPG to perform a specified level of activities associated with environmental investigation and remediation work at certain properties in Pennsylvania on which manufactured gas plant (“MGP”) related facilities were operated (“CPG MGP Properties”) and to plug a minimum number of non-producing natural gas wells per year. In addition, PNG is a party to a Multi-Site Remediation Consent Order and Agreement (“PNG-COA”) with the DEP. The PNG-COA requires PNG to perform annually a specified level of activities associated with environmental investigation and remediation work at certain properties on which MGP-related facilities were operated (“PNG MGP Properties”). Under these agreements, environmental expenditures relating to the CPG MGP Properties and the PNG MGP Properties are capped at $1,800 and $1,100, respectively, in any calendar year. The CPG-COA is currently scheduled to terminate at the end of 2013 and is expected to be renewed prior to its expiration. The PNG-COA terminates in 2019 but may be terminated by either party effective at the end of any two-year period beginning with the original effective date in March 2004. At September 30, 2013 and 2012, our accrued liabilities for environmental investigation and remediation costs related to the CPG-COA and the PNG-COA totaled $14,019 and $14,979, respectively. Because CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites, in accordance with GAAP related to rate-regulated entities we have recorded associated regulatory assets in equal amounts. | |
From the late 1800s through the mid-1900s, UGI Utilities and its former subsidiaries owned and operated a number of MGPs prior to the general availability of natural gas. Some constituents of coal tars and other residues of the manufactured gas process are today considered hazardous substances under the Superfund Law and may be present on the sites of former MGPs. Between 1882 and 1953, UGI Utilities owned the stock of subsidiary gas companies in Pennsylvania and elsewhere and also operated the businesses of some gas companies under agreement. Pursuant to the requirements of the Public Utility Holding Company Act of 1935, by the early 1950s UGI Utilities divested all of its utility operations other than certain Pennsylvania operations, including those which now constitute UGI Gas and Electric Utility. | |
The Company does not expect its costs for investigation and remediation of hazardous substances at Pennsylvania MGP sites to be material to its results of operations because (1) UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of such prudently incurred remediation costs and (2) CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites. At September 30, 2013, neither the undiscounted nor the accrued liability for environmental investigation and cleanup costs for UGI Gas was material for UGI Utilities. | |
From time to time, UGI Utilities is notified of sites outside Pennsylvania on which private parties allege MGPs were formerly owned or operated by it or owned or operated by its former subsidiaries. Such parties generally investigate the extent of environmental contamination or perform environmental remediation. Management believes that under applicable law UGI Utilities should not be liable in those instances in which a former subsidiary owned or operated an MGP. There could be, however, significant future costs of an uncertain amount associated with environmental damage caused by MGPs outside Pennsylvania that UGI Utilities directly operated, or that were owned or operated by former subsidiaries of UGI Utilities if a court were to conclude that (1) the subsidiary’s separate corporate form should be disregarded or (2) UGI Utilities should be considered to have been an operator because of its conduct with respect to its subsidiary’s MGP. | |
Omaha, Nebraska. By letter dated October 20, 2011, the City of Omaha and the Metropolitan Utilities District (“MUD”) notified UGI Utilities that they had been requested by the United States Environmental Protection Agency (“EPA”) to remediate a former manufactured gas plant site located in Omaha, Nebraska. According to a report prepared on behalf of the EPA identifying potentially responsible parties, a former subsidiary of a UGI Utilities predecessor is identified as an owner and operator of the site. The City of Omaha and MUD have requested that UGI Utilities participate in the cost of remediation for this site. Because of the preliminary nature of available environmental information, the ultimate amount or range of possible clean up costs cannot be reasonably estimated. In addition, UGI Utilities believes that it has strong defenses to any claims that may arise relating to the remediation of this site. By letter dated November 10, 2011, the EPA notified UGI Utilities of its investigation of the site in Omaha, Nebraska and issued an information request to UGI Utilities. UGI Utilities responded to the EPA’s information request on January 17, 2012. There have been no recent developments in this matter. | |
Other Matters | |
We cannot predict with certainty the final results of any environmental claim or legal action described above. However, it is reasonably possible that such a claim could be resolved unfavorably to us and result in losses in excess of recorded amounts. We are unable to estimate any possible losses in excess of recorded amounts. Although we currently believe, after consultation with counsel, that damages or settlements, if any, that may be recovered by such a claim or actions will not have a material adverse effect on our financial position, damages or settlements could be material to our operating results or cash flows in future periods depending on the nature and timing of future developments with respect to these matters and the amounts of future operating results and cash flows. In addition to the matter described above, there are other pending claims and legal actions arising in the normal course of our businesses. While the results of these other pending claims and legal actions cannot be predicted with certainty, we believe, after consultation with counsel, the final outcome of such other matters will not have a material effect on our consolidated financial position, results of operations or cash flows. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||
The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of September 30, 2013 and 2012: | ||||||||||||||||
Asset (Liability) | ||||||||||||||||
Quoted | Significant | Unobservable | Total | |||||||||||||
Prices in | Other | Inputs | ||||||||||||||
Active | Observable | (Level 3) | ||||||||||||||
Markets for | Inputs | |||||||||||||||
Identical | (Level 2) | |||||||||||||||
Assets and | ||||||||||||||||
Liabilities | ||||||||||||||||
(Level 1) | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | (2,162 | ) | $ | (4,515 | ) | $ | — | $ | (6,677 | ) | |||||
September 30, 2012 | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | 5,468 | $ | — | $ | — | $ | 5,468 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | (671 | ) | $ | (8,766 | ) | $ | — | $ | (9,437 | ) | |||||
Interest rate contracts | $ | — | $ | (30,522 | ) | $ | — | $ | (30,522 | ) | ||||||
The fair values of our Level 1 exchange-traded commodity futures and option derivative contracts and certain non exchange-traded electricity forward contracts are based upon actively-quoted market prices for identical assets and liabilities. The fair values of the remainder of our derivative financial instruments and electricity forward contracts, which are designated as Level 2, are generally based upon recent market transactions and related market indicators. There were no transfers between Level 1 and Level 2 during the periods presented. | ||||||||||||||||
Other Financial Instruments | ||||||||||||||||
The carrying amounts of other financial instruments included in current assets and current liabilities (except for current maturities of long-term debt) approximate their fair values because of their short-term nature. The carrying amount and estimated fair value of our long-term debt (including current maturities) at September 30, 2013, were $642,000 and $699,929, respectively. The carrying amount and estimated fair value of our long-term debt (including current maturities) at September 30, 2012, were $600,000 and $700,708, respectively. We estimate the fair value of long-term debt by using current market rates and by discounting future cash flows using rates available for similar types of debt (Level 2). |
Disclosures_About_Derivative_I
Disclosures About Derivative Instruments and Hedging Activities | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||
Disclosures About Derivative Instruments and Hedging Activities | ' | ||||||||||||||||||||
DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | |||||||||||||||||||||
We are exposed to certain market risks related to our ongoing business operations. Management uses derivative financial and commodity instruments, among other things, to manage these risks. The primary risks managed by derivative instruments are (1) commodity price risk and (2) interest rate risk. Although we use derivative financial and commodity instruments to reduce market risk associated with forecasted transactions, we do not use derivative financial and commodity instruments for speculative or trading purposes. The use of derivative instruments is controlled by our risk management and credit policies which govern, among other things, the derivative instruments we can use, counterparty credit limits and contract authorization limits. Because most of our commodity derivative instruments are generally subject to regulatory ratemaking mechanisms, we have limited commodity price risk associated with our Gas Utility or Electric Utility operations. | |||||||||||||||||||||
Commodity Price Risk | |||||||||||||||||||||
Gas Utility’s tariffs contain clauses that permit recovery of all of the prudently incurred costs of natural gas it sells to retail core-market customers, including the cost of financial instruments used to hedge purchased gas costs. As permitted and agreed to by the PUC pursuant to Gas Utility’s annual PGC filings, Gas Utility currently uses New York Mercantile Exchange (“NYMEX”) natural gas futures and option contracts to reduce commodity price volatility associated with a portion of the natural gas it purchases for its retail core-market customers. At September 30, 2013 and 2012, the volumes of natural gas associated with Gas Utility’s unsettled NYMEX natural gas futures and option contracts totaled 15.0 million dekatherms and 19.2 million dekatherms, respectively. At September 30, 2013, the maximum period over which Gas Utility is hedging natural gas market price risk is 12 months. Gains and losses on natural gas futures contracts and any gains on natural gas option contracts are recorded in regulatory assets or liabilities on the Consolidated Balance Sheets in accordance with accounting guidance related to rate-regulated entities and reflected in cost of sales through the PGC mechanism (see Note 4). | |||||||||||||||||||||
Electric Utility’s DS tariffs permit the recovery of all prudently incurred costs of electricity it sells to DS customers, including the cost of financial instruments used to hedge electricity costs. Electric Utility enters into forward electricity purchase contracts to meet a substantial portion of its electricity supply needs. Because these contracts currently do not qualify for the normal purchases and normal sales exception under GAAP, the fair values of these contracts are required to be recognized on the balance sheet. At September 30, 2013 and 2012, the fair values of Electric Utility’s forward purchase power agreements comprising losses of $4,759 and $9,207, respectively, are reflected in current derivative financial instrument liabilities and other noncurrent liabilities on the accompanying Consolidated Balance Sheets. In accordance with GAAP related to rate-regulated entities, Electric Utility has recorded equal and offsetting amounts in regulatory assets. At September 30, 2013 and 2012, the volumes of Electric Utility’s forward electricity purchase contracts was 245.8 million kilowatt hours and 570.4 million kilowatt hours, respectively. At September 30, 2013, the maximum period over which these contracts extend is 8 months. | |||||||||||||||||||||
In order to reduce volatility associated with a substantial portion of its electric transmission congestion costs, Electric Utility obtains FTRs through an annual allocation process and by purchases of FTRs at monthly auctions. FTRs are derivative financial instruments that entitle the holder to receive compensation for electricity transmission congestion charges that result when there is insufficient electricity transmission capacity on the electric transmission grid. Because Electric Utility is entitled to fully recover its DS costs, gains and losses on Electric Utility FTRs are recorded in regulatory assets or liabilities in accordance with GAAP related to rate-regulated entities and reflected in cost of sales through the DS recovery mechanism (see Note 4). At September 30, 2013 and 2012, the volumes associated with Electric Utility FTRs totaled 189.3 million kilowatt hours and 189.7 million kilowatt hours, respectively. | |||||||||||||||||||||
In order to reduce operating expense volatility, UGI Utilities from time to time enters into NYMEX gasoline futures and swap contracts for a portion of gasoline volumes expected to be used in the operation of its vehicles and equipment. The volumes of gasoline under these contracts were not material for all periods presented. | |||||||||||||||||||||
Interest Rate Risk | |||||||||||||||||||||
Our long-term debt typically is issued at fixed rates of interest. As these long-term debt issues mature, we typically refinance such debt with new debt having interest rates reflecting then-current market conditions. In order to reduce market rate risk on the underlying benchmark rate of interest associated with near- to medium-term forecasted issuances of fixed-rate debt, from time to time we enter into interest rate protection agreements (“IRPAs”). We account for IRPAs as cash flow hedges. Changes in the fair values of IRPAs are recorded in AOCI, to the extent effective in offsetting changes in the underlying interest rate risk, until earnings are affected by the hedged interest expense. As of September 30, 2013 we had no unsettled IRPAs. As of September 30, 2012, the total notional amounts of our unsettled IRPA contracts was $173,000. | |||||||||||||||||||||
UGI Utilities reclassified pre-tax losses of $682 from AOCI into income during Fiscal 2012 as a result of the discontinuance of cash flow hedge accounting for a portion of expected interest payments associated with the issuance of long-term debt originally anticipated to occur in September 2012. Such losses are included in other income, net, in the Consolidated Statements of Income. The amounts of derivative gains and losses on cash flow hedges representing ineffectiveness were not material for all periods presented. | |||||||||||||||||||||
At September 30, 2013, the amount of net losses associated with IRPAs expected to be reclassified into earnings during the next twelve months based upon current fair values is $2,680. | |||||||||||||||||||||
Derivative Financial Instrument Credit Risk | |||||||||||||||||||||
Our natural gas exchange-traded futures contracts generally require cash deposits in margin accounts. At September 30, 2013, Gas Utility’s restricted cash in brokerage accounts totaled $3,181. At September 30, 2012, Gas Utility had no restricted cash in brokerage accounts. | |||||||||||||||||||||
The following table provides information regarding the balance sheet location and fair values of derivative assets and liabilities existing as of September 30, 2013 and 2012: | |||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||
Balance Sheet | Fair Value | Balance Sheet | Fair Value | ||||||||||||||||||
Location | 2013 | 2012 | Location | 2013 | 2012 | ||||||||||||||||
Derivatives Designated as Hedging Instruments: | |||||||||||||||||||||
Interest rate contracts | $ | — | $ | — | Derivative financial instruments and Other noncurrent liabilities | $ | — | $ | (30,522 | ) | |||||||||||
Derivatives Accounted for Under ASC 980: | |||||||||||||||||||||
Commodity contracts | Derivative financial instruments | 31 | 5,303 | Derivative financial instruments and Other noncurrent liabilities | (6,677 | ) | (9,437 | ) | |||||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||
Commodity contracts | Derivative financial instruments | 12 | 165 | — | — | ||||||||||||||||
Total Derivatives | $ | 43 | $ | 5,468 | $ | (6,677 | ) | $ | (39,959 | ) | |||||||||||
The following table provides information on the effects of derivative instruments on the Consolidated Statements of Income and changes in AOCI for Fiscal 2013 and 2012: | |||||||||||||||||||||
Gain (Loss) Recognized in AOCI | Gain (Loss) Reclassified from AOCI into Income | Location of Gain or | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | (Loss) Reclassified from AOCI into Income | |||||||||||||||||
Cash Flow Hedges: | |||||||||||||||||||||
Interest rate contracts | $ | 25,898 | $ | (11,528 | ) | $ | (805 | ) | $ | (1,847 | ) | Interest expense | |||||||||
Derivatives Not Designated | |||||||||||||||||||||
as Hedging Instruments: | Gain Recognized in Income | Location of Gain Recognized in Income | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Commodity contracts | $ | 45 | $ | 223 | Operating expenses/other income, net | ||||||||||||||||
We are also a party to a number of contracts that have elements of a derivative instrument. These contracts include, among others, binding purchase orders, contracts which provide for the purchase and delivery of natural gas, and service contracts that require the counterparty to provide commodity storage, transportation or capacity service to meet our normal sales commitments. Although many of these contracts have the requisite elements of a derivative instrument, these contracts qualify for normal purchase and normal sale exception accounting under GAAP because they provide for the delivery of products or services in quantities that are expected to be used in the normal course of operating our business and the price in the contract is based on an underlying that is directly associated with the price of the product or service being purchased or sold. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
We have determined that we have two reportable segments: (1) Gas Utility and (2) Electric Utility. Gas Utility revenues are derived principally from the sale and distribution of natural gas to customers in eastern, northeastern and central Pennsylvania. Electric Utility derives its revenues principally from the sale and distribution of electricity in two northeastern Pennsylvania counties. The HVAC Business does not meet the quantitative thresholds for separate segment reporting under GAAP relating to business segment reporting and has been included in “Other” below. | ||||||||||||||||
The accounting policies of our reportable segments are the same as those described in Note 2. We evaluate the performance of our Gas Utility and Electric Utility segments principally based upon their income before income taxes. | ||||||||||||||||
No single customer represents more than ten percent of our consolidated revenues and there are no significant intersegment transactions. In addition, all of our reportable segments’ revenues are derived from sources within the United States, and all of our reportable segments’ long-lived assets are located in the United States. | ||||||||||||||||
Financial information by business segment follows: | ||||||||||||||||
Total | Gas | Electric | Other | |||||||||||||
Utility | Utility | |||||||||||||||
2013 | ||||||||||||||||
Revenues | $ | 940,712 | $ | 839,050 | $ | 99,986 | $ | 1,676 | ||||||||
Cost of sales | 465,996 | 407,222 | 58,774 | — | ||||||||||||
Depreciation and amortization | 55,716 | 51,698 | 4,018 | — | ||||||||||||
Operating income | 210,319 | 198,352 | 11,385 | 582 | ||||||||||||
Interest expense | 39,309 | 37,280 | 2,029 | — | ||||||||||||
Income before income taxes | 171,010 | 161,072 | 9,356 | 582 | ||||||||||||
Total assets | 2,210,322 | 2,068,955 | 141,367 | — | ||||||||||||
Goodwill | 182,145 | 182,145 | — | — | ||||||||||||
Capital expenditures | 151,090 | 144,399 | 6,691 | — | ||||||||||||
2012 | ||||||||||||||||
Revenues | $ | 884,333 | $ | 785,375 | $ | 97,130 | $ | 1,828 | ||||||||
Cost of sales | 459,079 | 402,534 | 56,545 | — | ||||||||||||
Depreciation and amortization | 52,792 | 48,992 | 3,800 | — | ||||||||||||
Operating income | 185,383 | 172,164 | 12,610 | 609 | ||||||||||||
Interest expense | 42,412 | 40,139 | 2,273 | — | ||||||||||||
Income before income taxes | 142,971 | 132,025 | 10,337 | 609 | ||||||||||||
Total assets | 2,196,173 | 2,045,480 | 150,693 | — | ||||||||||||
Goodwill | 182,145 | 182,145 | — | — | ||||||||||||
Capital expenditures | 114,090 | 109,020 | 5,070 | — | ||||||||||||
2011 | ||||||||||||||||
Revenues | $ | 1,137,366 | $ | 1,026,397 | $ | 109,145 | $ | 1,824 | ||||||||
Cost of sales | 678,500 | 610,635 | 67,865 | — | ||||||||||||
Depreciation and amortization | 52,546 | 48,350 | 4,196 | — | ||||||||||||
Operating income | 211,421 | 199,643 | 11,384 | 394 | ||||||||||||
Interest expense | 42,728 | 40,374 | 2,354 | — | ||||||||||||
Income before income taxes | 168,693 | 159,269 | 9,030 | 394 | ||||||||||||
Total assets | 2,169,348 | 2,028,705 | 140,643 | — | ||||||||||||
Goodwill | 182,145 | 182,145 | — | — | ||||||||||||
Capital expenditures | 98,856 | 91,328 | 7,528 | — | ||||||||||||
Other_Income_Net
Other Income, Net | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Other Income [Abstract] | ' | |||||||||||
Other Income, Net | ' | |||||||||||
OTHER INCOME, NET | ||||||||||||
Other income, net, comprises the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Non-tariff service income | $ | 2,706 | $ | 2,653 | $ | 6,422 | ||||||
Interest income | 500 | 572 | 467 | |||||||||
Postretirement benefit plan curtailment gain | — | — | 3,245 | |||||||||
Other, net | 1,622 | 1,764 | 630 | |||||||||
Total other income, net | $ | 4,828 | $ | 4,989 | $ | 10,764 | ||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
RELATED PARTY TRANSACTIONS | |
UGI provides certain financial and administrative services to UGI Utilities. UGI bills UGI Utilities monthly for all direct | |
expenses incurred by UGI on behalf of UGI Utilities and an allocated share of indirect corporate expenses incurred or paid with respect to services provided to UGI Utilities. The allocation of indirect UGI corporate expenses to UGI Utilities utilizes a weighted, three-component formula comprising revenues, operating expenses and net assets employed and considers UGI Utilities’ relative percentage of such items 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 UGI Utilities and this allocation method has been accepted by the PUC in past rate case proceedings and management audits as a reasonable method of allocating such expenses. These billed expenses are classified as operating and administrative expenses - related parties in the Consolidated Statements of Income. In addition, UGI Utilities provides limited administrative services to UGI and certain of UGI’s subsidiaries. Amounts billed to these entities by UGI Utilities for all periods presented were not material. | |
From time to time, UGI Utilities is a party to SCAAs with Energy Services. At September 30, 2013, UGI Utilities was a party to three three-year SCAAs with Energy Services one of which expired October 31, 2013, and two of which expire October 31, 2015 and, during the periods covered by the financial statements, was a party to other SCAAs with Energy Services. Under the SCAAs, UGI Utilities has, among other things, and subject to recall for operational purposes, released certain storage and transportation contracts to Energy Services for the terms of the SCAAs. UGI Utilities also transferred certain associated storage inventories upon the commencement of the SCAAs, receives a transfer of storage inventories at the end of the SCAAs, and makes payments associated with refilling storage inventories during the term of the SCAAs. Energy Services, in turn, provides a firm delivery service and makes certain payments to UGI Utilities for its various obligations under the SCAAs. UGI Utilities incurred costs associated with Energy Services’ SCAAs totaling $45,843, $24,344 and $35,231 in Fiscal 2013, Fiscal 2012 and Fiscal 2011, respectively. In conjunction with the SCAAs, UGI Utilities received security deposits from Energy Services. The amount of such security deposits, which are included in other current liabilities on the Consolidated Balance Sheets, was $16,500 and $15,000 at September 30, 2013 and 2012, respectively. Effective November 1, 2013, UGI Utilities entered into a new SCAA with Energy Services having a term of one year. | |
UGI Utilities reflects the historical cost of the gas storage inventories and any exchange receivable from Energy Services (representing amounts of natural gas inventories used but not yet replenished by Energy Services) on its balance sheet under the caption inventories. The carrying value of these gas storage inventories at September 30, 2013, comprising approximately 10.4 bcf bcf of natural gas, was $41,988. The carrying value of these gas storage inventories at September 30, 2012, comprising approximately 7.6 bcf of natural gas, was $21,217. Effective November 1, 2013, UGI Utilities entered into a new SCAA with Energy Services having a term of one year. | |
UGI Utilities has gas supply and delivery service agreements with Energy Services pursuant to which Energy Services provides certain gas supply and related delivery service to Gas Utility during the heating season months of November through March. The aggregate amount of these transactions (exclusive of transactions pursuant to the SCAAs) during Fiscal 2013, Fiscal 2012 and Fiscal 2011 totaled $32,526, $30,752 and $30,093, respectively. | |
From time to time, the Company sells natural gas or pipeline capacity to Energy Services. During Fiscal 2013, Fiscal 2012 and Fiscal 2011, revenues associated with sales to Energy Services totaled $69,087, $65,705 and $85,655, respectively. Also from time to time, the Company purchases natural gas, pipeline capacity and electricity from Energy Services (in addition to those transactions already described above) and purchases a firm storage service from UGI Storage Company, a subsidiary of Energy Services, under one-year agreements. During Fiscal 2013, Fiscal 2012 and Fiscal 2011, such purchases totaled $77,017, $53,435 and $53,617, respectively. These transactions did not have a material effect on the Company’s financial position, results of operations or cash flows. |
Quarterly_Data_unaudited
Quarterly Data (unaudited) | 12 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||||||||||||||||||
Quarterly Data (unaudited) | ' | |||||||||||||||||||||||||||||||
QUARTERLY DATA (unaudited) | ||||||||||||||||||||||||||||||||
The following quarterly information includes all adjustments (consisting only of normal recurring adjustments) which we consider necessary for a fair presentation of such information. Quarterly results fluctuate because of the seasonal nature of the Company’s businesses. | ||||||||||||||||||||||||||||||||
December 31, | March 31, | June 30, | September 30, | |||||||||||||||||||||||||||||
2012 | 2011 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Revenues | $ | 273,797 | $ | 280,641 | $ | 395,901 | $ | 345,802 | $ | 148,798 | $ | 143,644 | $ | 122,216 | $ | 114,246 | ||||||||||||||||
Operating income | $ | 72,564 | $ | 64,605 | $ | 109,230 | $ | 88,447 | $ | 18,878 | $ | 25,300 | $ | 9,647 | $ | 7,031 | ||||||||||||||||
Net income (loss) | $ | 36,812 | $ | 32,668 | $ | 58,259 | $ | 47,871 | $ | 5,373 | $ | 8,460 | $ | 1,654 | $ | (1,101 | ) | |||||||||||||||
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Valuation and Qualifying Accounts | ' | ||||||||||||||||
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||
(Thousands of dollars) | |||||||||||||||||
Balance at | Charged (credited) to | Other | Balance at | ||||||||||||||
beginning of | costs and | end of | |||||||||||||||
year | expenses | year | |||||||||||||||
September 30, 2013 | |||||||||||||||||
Reserves deducted from assets in the consolidated balance sheet: | |||||||||||||||||
Allowance for doubtful accounts | $ | 3,588 | $ | 9,584 | $ | (7,653 | ) | (1) | $ | 5,519 | |||||||
September 30, 2012 | |||||||||||||||||
Reserves deducted from assets in the consolidated balance sheet: | |||||||||||||||||
Allowance for doubtful accounts | $ | 6,368 | $ | 6,286 | $ | (9,066 | ) | (1) | $ | 3,588 | |||||||
September 30, 2011 | |||||||||||||||||
Reserves deducted from assets in the consolidated balance sheet: | |||||||||||||||||
Allowance for doubtful accounts | $ | 7,072 | $ | 9,137 | $ | (9,841 | ) | (1) | $ | 6,368 | |||||||
-1 | Uncollectible accounts written off, net of recoveries |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis Of Presentation | ' | |
Basis of Presentation | ||
Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). | ||
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and costs. These estimates are based on management’s knowledge of current events, historical experience and various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results may be different from these estimates and assumptions. | ||
Principles of Consolidation | ' | |
Principles of Consolidation | ||
Our consolidated financial statements include the accounts of UGI Utilities and its subsidiaries (collectively, “we” or “the Company”). We eliminate all significant intercompany accounts when we consolidate. | ||
Effects of Regulation | ' | |
Effects of Regulation | ||
UGI Utilities accounts for the financial effects of regulation in accordance with the Financial Accounting Standards Board’s (“FASB’s”) guidance in Accounting Standards Codification (“ASC”) 980 related to regulated entities whose rates are designed to recover the costs of providing service. In accordance with this guidance, incurred costs and estimated future expenditures that would otherwise be charged to expense are capitalized and recorded as regulatory assets when it is probable that the incurred costs or estimated future expenditures will be recovered in rates in the future. Similarly, we recognize regulatory liabilities when it is probable that regulators will require customer refunds through future rates or when revenue is collected from customers for expenditures that have not yet been incurred. Generally, regulatory assets are amortized into expense and regulatory liabilities are amortized into income over the period authorized by the regulator. | ||
Fair Value Measurements | ' | |
Fair Value Measurements | ||
We apply fair value measurements to certain assets and liabilities, principally our commodity derivative instruments. Fair value in GAAP is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and risks inherent in valuation techniques and inputs to valuations. This includes not only the credit standing of counterparties and credit enhancements but also the impact of our own nonperformance risk on our liabilities. Fair value measurements require that we assume that the transaction occurs in the principal market for the asset or liability or in the absence of a principal market, the most advantageous market for the asset or liability (the market for which the reporting entity would be able to maximize the amount received or minimize the amount paid). We evaluate the need for credit adjustments to our derivative instrument fair values in accordance with the requirements noted above. Such adjustments were not material to the fair values of our derivative instruments. | ||
We use the following fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: | ||
• | Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access at the measurement date. Instruments categorized in Level 1 consist of our exchange-traded commodity futures and option contracts and non exchange-traded electricity forward contracts whose underlying is identical to an exchange-traded electricity contract. | |
• | Level 2 — Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived from observable market data by correlation or other means. Instruments categorized in Level 2 include financial transmission rights (“FTRs”) and non exchange-traded electricity forward contracts not qualifying for Level 1. | |
• | Level 3 — Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. We did not have any derivative financial instruments categorized as Level 3 at September 30, 2013 or 2012. | |
The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable data (Level 3). In some cases, the inputs to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement in its entirety determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. See Note 13 for additional information on fair value measurements. | ||
Derivative Instruments | ' | |
Derivative Instruments | ||
We account for derivative instruments and hedging activities in accordance with guidance provided by the FASB which requires that all derivative instruments be recognized as either assets or liabilities and measured at fair value. The accounting for changes in fair value depends upon the purpose of the derivative instrument and whether it is designated and qualifies for hedge accounting. | ||
Substantially all of the gains and losses on derivative instruments used by Gas Utility and Electric Utility are included in regulatory assets and liabilities in accordance with FASB guidance regarding accounting for rate-regulated entities. For cash flow hedges, changes in the fair value of the derivative financial instruments are recorded in accumulated other comprehensive income (“AOCI”), to the extent effective at offsetting changes in the hedged item, until earnings are affected by the hedged item. We discontinue cash flow hedge accounting if the occurrence of the forecasted transaction is determined to be no longer probable. Certain of our derivative financial instruments, although generally effective as hedges, do not qualify for hedge accounting treatment. Changes in the fair values of these derivative instruments are reflected in net income. Cash flows from derivative financial instruments are included in cash flows from operating activities. | ||
For a more detailed description of the derivative instruments we use, our accounting for derivatives, our objectives for using them and related supplemental information required by GAAP, see Note 14. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
UGI Utilities’ regulated revenues are recognized as natural gas and electricity are delivered and include estimated amounts for distribution service and commodities rendered but not billed at the end of each month. We reflect the impact of Gas Utility and Electric Utility rate increases or decreases at the time they become effective. Nonregulated revenues are recognized as services are performed or products are delivered. | ||
We present revenue-related taxes collected from customers and remitted to taxing authorities, principally sales and use taxes, on a net basis. Electric Utility gross receipts taxes are included in total revenues in accordance with regulatory practice. | ||
Income Taxes | ' | |
Income Taxes | ||
We record deferred income taxes in the Consolidated Statements of Income resulting from the use of accelerated depreciation methods based upon amounts recognized for ratemaking purposes. We also record a deferred tax liability for tax benefits, principally the result of accelerated tax depreciation for state income tax purposes, that are flowed through to ratepayers when temporary differences originate and record a regulatory income tax asset for the probable increase in future revenues that will result when the temporary differences reverse. | ||
We are amortizing deferred investment tax credits related to Utilities’ plant additions over the service lives of the related property. Utilities reduces its deferred income tax liability for the future tax benefits that will occur when the deferred investment tax credits, which are not taxable, are amortized. We also reduce the regulatory income tax asset for the probable reduction in future revenues that will result when such deferred investment tax credits amortize. | ||
We join with UGI and its subsidiaries in filing a consolidated federal income tax return. We are charged or credited for our share of current taxes resulting from the effects of our transactions in the UGI consolidated federal income tax return including giving effect to intercompany transactions. The result of this allocation is generally consistent with income taxes calculated on a separate return basis. We record interest on tax deficiencies and income tax penalties in income taxes on the Consolidated Statements of Income. | ||
Correction of Error | ' | |
Correction of Error. During the three months ended September 30, 2013, we identified an error in the classification of deferred income tax assets on the September 30, 2012, Consolidated Balance Sheet. We evaluated the impact of the error and have determined that such error is not material. We have revised the September 30, 2012, Consolidated Balance Sheet to correct the error which revision decreased the following Consolidated Balance Sheet items by $27,006: current deferred income taxes; total current assets and total assets; long-term deferred income tax liabilities; total liabilities; and total liabilities and stockholder’s equity. | ||
Comprehensive Income/Presentation of Comprehensive Income | ' | |
Comprehensive income comprises net income and other comprehensive income (loss). Other comprehensive income (loss) principally reflects gains and losses on derivative instruments accounted for as cash flow hedges and changes in actuarial gains and losses on postretirement benefit plans. Other comprehensive income (loss) for all periods presented includes reclassifications of net losses on interest rate protection agreements (“IRPAs”). | ||
Cash and Cash Equivalents | ' | |
Cash and Cash Equivalents | ||
All highly liquid investments with maturities of three months or less when purchased are classified as cash equivalents. | ||
Restricted Cash | ' | |
Restricted Cash | ||
Restricted cash represents those cash balances in our commodity futures brokerage accounts which are restricted from withdrawal. | ||
Inventories | ' | |
Inventories | ||
Our inventories are stated at the lower of cost or market. Substantially all of our inventory is determined on an average cost method. | ||
Property, Plant and Equipment and Related Depreciation | ' | |
Property, Plant and Equipment and Related Depreciation | ||
We record property, plant and equipment at original cost. The amounts assigned to property, plant and equipment of acquired businesses are based upon estimated fair value at date of acquisition. | ||
We record depreciation expense for Utilities’ plant and equipment on a straight-line basis over the estimated average remaining lives of the various classes of its depreciable property. Depreciation expense as a percentage of the related average depreciable base for Gas Utility was 2.3% in Fiscal 2013, 2.2% in Fiscal 2012 and 2.3% in Fiscal 2011. Depreciation expense as a percentage of the related average depreciable base for Electric Utility was 2.4% in Fiscal 2013, 2.4% in Fiscal 2012 and 2.6% in Fiscal 2011. When Utilities retires depreciable utility plant and equipment, we charge the original cost to accumulated depreciation for financial accounting purposes. | ||
We include in property, plant and equipment costs associated with computer software we develop or obtain for use in our businesses. We amortize computer software costs on a straight-line basis over expected periods of benefit not exceeding fifteen years once the installed software is ready for its intended use. | ||
No depreciation expense is included in cost of sales in the Consolidated Statements of Income. | ||
Goodwill | ' | |
Goodwill | ||
Our goodwill is the result of business acquisitions. We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is the operating segment, or a business one level below the operating segment (a component) if discrete financial information is prepared and regularly reviewed by segment management. Components are aggregated as a single reporting unit if they have similar economic characteristics. We are required to recognize an impairment charge under GAAP if the carrying amount of a reporting unit exceeds its fair value and the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill. | ||
Impairment of Long-Lived Assets | ' | |
Impairment of Long-Lived Assets | ||
We evaluate the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We evaluate recoverability based upon undiscounted future cash flows expected to be generated by such assets. | ||
Employee Retirement Plans | ' | |
Employee Retirement Plans | ||
We use a market-related value of plan assets and an expected long-term rate of return to determine the expected return on assets of our pension and other postretirement plans. The market-related value of plan assets, other than equity investments, is based upon fair values. The market-related value of equity investments is calculated by rolling forward the prior-year’s market-related value with contributions, disbursements and the expected return on plan assets. One third of the difference between the expected and the actual value is then added to or subtracted from the expected value to determine the new market-related value (see Note 9). | ||
Equity-Based Compensation | ' | |
Equity-Based Compensation | ||
All of our equity-based compensation, principally comprising UGI stock options and grants of UGI stock-based equity instruments (“Units”), is measured at fair value on the grant date, date of modification or end of the period, as applicable. Compensation expense is recognized on a straight-line basis over the requisite service period. Depending upon the settlement terms of the awards, equity-based compensation costs are measured based upon the fair value of the award on the date of grant or the fair value of the award as of the end of each reporting period. | ||
Environmental Matters | ' | |
Environmental Matters | ||
We are subject to environmental laws and regulations intended to mitigate or remove the effect of past operations and improve or maintain the quality of the environment. These laws and regulations require the removal or remedy of the effect on the environment of the disposal or release of certain specified hazardous substances at current or former operating sites. | ||
Environmental reserves are accrued when assessments indicate that it is probable that a liability has been incurred and an amount can reasonably be estimated. Amounts recorded as environmental liabilities on the balance sheets represent our best estimate of costs expected to be incurred or, if no best estimate can be made, the minimum liability associated with a range of expected environmental investigation and remediation costs. Our estimated liability for environmental contamination is reduced to reflect anticipated participation of other responsible parties but is not reduced for possible recovery from insurance carriers. In those instances for which the amount and timing of cash payments associated with environmental investigation and cleanup are reliably determinable, we discount such liabilities to reflect the time value of money. We intend to pursue recovery of incurred costs through all appropriate means, including regulatory relief. UGI Gas is permitted to amortize as removal costs site-specific environmental investigation and remediation costs, net of related third-party payments, associated with Pennsylvania sites. UGI Gas is currently permitted to include in rates, through future base rate proceedings, a five-year average of such prudently incurred remediation costs, and CPG and PNG are currently receiving regulatory recovery of estimated environmental investigation and remediation costs associated with Pennsylvania sites. For further information, see Note 12. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Components of AOCI | ' | |||||||||||
The components of AOCI at September 30, 2013 and 2012, follow: | ||||||||||||
Postretirement | Derivative | Total | ||||||||||
Benefit Plans | Instruments Net | |||||||||||
Losses | ||||||||||||
September 30, 2013 | $ | (5,283 | ) | $ | (3,437 | ) | $ | (8,720 | ) | |||
September 30, 2012 | $ | (10,756 | ) | $ | (19,061 | ) | $ | (29,817 | ) |
Regulatory_Assets_and_Liabilit1
Regulatory Assets and Liabilities and Regulatory Matters (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Regulated Operations [Abstract] | ' | ||||||||
Regulatory assets and liabilities associated with Gas Utility and Electric Utility | ' | ||||||||
The following regulatory assets and liabilities associated with Utilities are included in our accompanying Consolidated Balance Sheets at September 30: | |||||||||
2013 | 2012 | ||||||||
Regulatory assets: | |||||||||
Income taxes recoverable | $ | 106,069 | $ | 103,172 | |||||
Underfunded pension and postretirement plans | 94,515 | 188,222 | |||||||
Environmental costs | 17,054 | 16,812 | |||||||
Deferred fuel and power costs | 8,283 | 11,602 | |||||||
Removal costs, net | 13,333 | 12,718 | |||||||
Other | 5,657 | 5,879 | |||||||
Total regulatory assets | $ | 244,911 | $ | 338,405 | |||||
Regulatory liabilities: | |||||||||
Postretirement benefits | $ | 16,497 | $ | 13,147 | |||||
Environmental overcollections | 2,552 | 2,883 | |||||||
Deferred fuel and power refunds | 8,283 | 4,435 | |||||||
State tax benefits — distribution system repairs | 8,453 | 7,385 | |||||||
Other | 1,502 | 494 | |||||||
Total regulatory liabilities | $ | 37,287 | $ | 28,344 | |||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Inventory Disclosure [Abstract] | ' | |||||||
Inventories | ' | |||||||
Inventories comprise the following at September 30: | ||||||||
2013 | 2012 | |||||||
Gas Utility natural gas | $ | 78,950 | $ | 57,663 | ||||
Materials, supplies and other | 10,711 | 9,671 | ||||||
Total inventories | $ | 89,661 | $ | 67,334 | ||||
Property_Plant_and_Equipment_T
Property Plant and Equipment (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property, plant and equipment comprise the following categories at September 30: | ||||||||
2013 | 2012 | |||||||
Distribution | $ | 2,162,580 | $ | 2,047,780 | ||||
Transmission | 86,623 | 85,430 | ||||||
General and other, including construction in process | 178,607 | 162,459 | ||||||
Total property, plant and equipment | $ | 2,427,810 | $ | 2,295,669 | ||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Composition of Long Term Debt | ' | |||||||
Long-term debt comprises the following at September 30: | ||||||||
2013 | 2012 | |||||||
Term Loan Credit Agreement | $ | 175,000 | $ | — | ||||
Senior Notes: | ||||||||
6.375%, due September 2013 | — | 108,000 | ||||||
5.75%, due September 2016 | 175,000 | 175,000 | ||||||
6.21%, due September 2036 | 100,000 | 100,000 | ||||||
Medium-Term Notes: | ||||||||
5.37%, due August 2013 | — | 25,000 | ||||||
5.16%, due May 2015 | 20,000 | 20,000 | ||||||
7.37%, due October 2015 | 22,000 | 22,000 | ||||||
5.64%, due December 2015 | 50,000 | 50,000 | ||||||
6.17%, due June 2017 | 20,000 | 20,000 | ||||||
7.25%, due November 2017 | 20,000 | 20,000 | ||||||
5.67%, due January 2018 | 20,000 | 20,000 | ||||||
6.50%, due August 2033 | 20,000 | 20,000 | ||||||
6.13%, due October 2034 | 20,000 | 20,000 | ||||||
Total long-term debt | 642,000 | 600,000 | ||||||
Less: current maturities | — | (133,000 | ) | |||||
Total long-term debt due after one year | $ | 642,000 | $ | 467,000 | ||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Provisions for income taxes | ' | |||||||||||
The provisions for income taxes consist of the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current expense (benefit): | ||||||||||||
Federal | $ | 21,807 | $ | (909 | ) | $ | 10,447 | |||||
State | 11,824 | 2,735 | 2,227 | |||||||||
Total current expense | 33,631 | 1,826 | 12,674 | |||||||||
Deferred expense: | ||||||||||||
Federal | 33,349 | 48,336 | 48,967 | |||||||||
State | 2,274 | 5,257 | 2,207 | |||||||||
Investment tax credit amortization | (342 | ) | (346 | ) | (351 | ) | ||||||
Total income tax expense | $ | 68,912 | $ | 55,073 | $ | 63,497 | ||||||
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate | ' | |||||||||||
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate is as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Difference in tax rate due to: | ||||||||||||
State income taxes, net of federal | 5.4 | 4.1 | 1.6 | |||||||||
Other, net | (0.1 | ) | (0.6 | ) | 1 | |||||||
Effective tax rate | 40.3 | % | 38.5 | % | 37.6 | % | ||||||
Deferred tax liabilities (assets) | ' | |||||||||||
Deferred tax liabilities (assets) comprise the following at September 30: | ||||||||||||
2013 | 2012 | |||||||||||
Excess book basis over tax basis of property, plant and equipment | $ | 362,259 | $ | 330,937 | ||||||||
Goodwill | 31,516 | 26,998 | ||||||||||
Regulatory assets | 101,622 | 140,416 | ||||||||||
Other | 949 | 601 | ||||||||||
Gross deferred tax liabilities | 496,346 | 498,952 | ||||||||||
Pension plan liabilities | (35,996 | ) | (72,652 | ) | ||||||||
Allowance for doubtful accounts | (2,290 | ) | (1,489 | ) | ||||||||
Deferred investment tax credits | (1,772 | ) | (1,914 | ) | ||||||||
Employee-related expenses | (5,850 | ) | (4,859 | ) | ||||||||
Regulatory liabilities | (15,472 | ) | (11,761 | ) | ||||||||
Environmental liabilities | (7,002 | ) | (7,195 | ) | ||||||||
Derivative financial instruments | (3,397 | ) | (16,264 | ) | ||||||||
Other | (1,922 | ) | (12,202 | ) | ||||||||
Gross deferred tax assets | (73,701 | ) | (128,336 | ) | ||||||||
Net deferred tax liabilities | $ | 422,645 | $ | 370,616 | ||||||||
Reconciliation of beginning and ending amount of unrecognized tax benefit | ' | |||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows: | ||||||||||||
Balance at September 30, 2010 | $ | 4,194 | ||||||||||
Additions for tax positions of the current year | 920 | |||||||||||
Settlements with tax authorities | (216 | ) | ||||||||||
Balance at September 30, 2011 | 4,898 | |||||||||||
Additions for tax positions of prior years | 81 | |||||||||||
Settlements with tax authorities | (3,931 | ) | ||||||||||
Balance at September 30, 2012 | 1,048 | |||||||||||
Additions for tax positions of prior years | 39 | |||||||||||
Balance at September 30, 2013 | $ | 1,087 | ||||||||||
Employee_Retirement_Plans_Tabl
Employee Retirement Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ' | |||||||||||||||||||||||
Change in Pension Benefits and Other postretirement benefits Obligations, plan assets, and the funded status | ' | |||||||||||||||||||||||
The following table provides a reconciliation of the projected benefit obligations (“PBOs”) of the Pension Plan, the accumulated benefit obligations (“ABOs”) of our other postretirement benefit plans, plan assets and the funded status of the Pension Plan and other postretirement plans as of September 30, 2013 and 2012. ABO is the present value of benefits earned to date with benefits based upon current compensation levels. PBO is ABO increased to reflect future compensation. | ||||||||||||||||||||||||
Pension | Other Postretirement | |||||||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Change in benefit obligations: | ||||||||||||||||||||||||
Benefit obligations — beginning of year | $ | 543,605 | $ | 456,714 | $ | 14,560 | $ | 13,333 | ||||||||||||||||
Service cost | 9,385 | 8,063 | 223 | 162 | ||||||||||||||||||||
Interest cost | 22,784 | 24,095 | 587 | 665 | ||||||||||||||||||||
Actuarial (gain) loss | (69,112 | ) | 74,676 | (1,881 | ) | 1,464 | ||||||||||||||||||
Plan amendments | 993 | — | (1,836 | ) | — | |||||||||||||||||||
Benefits paid | (21,187 | ) | (19,943 | ) | (965 | ) | (1,064 | ) | ||||||||||||||||
Benefit obligations — end of year | $ | 486,468 | $ | 543,605 | $ | 10,688 | $ | 14,560 | ||||||||||||||||
Change in plan assets: | ||||||||||||||||||||||||
Fair value of plan assets — beginning of year | $ | 351,543 | $ | 289,764 | $ | 11,205 | $ | 9,805 | ||||||||||||||||
Actual gain on assets | 45,450 | 50,550 | 1,117 | 1,741 | ||||||||||||||||||||
Employer contributions | 22,365 | 31,172 | 366 | 723 | ||||||||||||||||||||
Benefits paid | (21,187 | ) | (19,943 | ) | (965 | ) | (1,064 | ) | ||||||||||||||||
Fair value of plan assets — end of year | $ | 398,171 | $ | 351,543 | $ | 11,723 | $ | 11,205 | ||||||||||||||||
Funded status of the plans — end of year | $ | (88,297 | ) | $ | (192,062 | ) | $ | 1,035 | $ | (3,355 | ) | |||||||||||||
(Liabilities) recorded in the balance sheet: | ||||||||||||||||||||||||
Assets in excess of liabilities — included in other noncurrent assets | $ | — | $ | — | $ | 3,252 | $ | — | ||||||||||||||||
Unfunded liabilities — included in other current liabilities | (17,885 | ) | (15,802 | ) | (372 | ) | (654 | ) | ||||||||||||||||
Unfunded liabilities — included in other noncurrent liabilities | (70,412 | ) | (176,260 | ) | (1,844 | ) | (2,701 | ) | ||||||||||||||||
Net amount recognized | $ | (88,297 | ) | $ | (192,062 | ) | $ | 1,036 | $ | (3,355 | ) | |||||||||||||
Amounts recorded in stockholder’s equity (pre-tax): | ||||||||||||||||||||||||
Prior service cost (credit) | $ | 222 | $ | 152 | $ | (74 | ) | $ | (79 | ) | ||||||||||||||
Net actuarial loss (gain) | 9,113 | 18,099 | (222 | ) | 164 | |||||||||||||||||||
Total | $ | 9,335 | $ | 18,251 | $ | (296 | ) | $ | 85 | |||||||||||||||
Amounts recorded in regulatory assets and liabilities (pre-tax): | ||||||||||||||||||||||||
Prior service cost (credit) | $ | 2,223 | $ | 1,550 | $ | (4,286 | ) | $ | (2,766 | ) | ||||||||||||||
Net actuarial loss | 91,275 | 184,464 | 3,586 | 5,815 | ||||||||||||||||||||
Total | $ | 93,498 | $ | 186,014 | $ | (700 | ) | $ | 3,049 | |||||||||||||||
Actuarial assumptions for our domestic plans | ' | |||||||||||||||||||||||
The expected rate of return on assets assumption is based on the current and expected asset allocations as well as historical and expected returns on various categories of plan assets as further described below. | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
Weighted-average assumptions: | 2013 | 2012 | 2011 (a) | 2013 | 2012 | 2011 | ||||||||||||||||||
Discount rate - benefit obligations | 5.2 | % | 4.2 | % | 5.3 | % | 5.10% - 5.40% | 4.10% - 4.30% | 5.3 | % | ||||||||||||||
Discount rate - benefit cost | 4.2 | % | 5.3 | % | 5 | % | 4.10% - 4.30% | 5.3 | % | 5 | % | |||||||||||||
Expected return on plan assets | 7.75 | % | 7.75 | % | 8 | % | 5 | % | 5.2 | % | 5.5 | % | ||||||||||||
Rate of increase in salary levels | 3.25 | % | 3.25 | % | 3.5 | % | 3.25 | % | 3.25 | % | 3.5 | % | ||||||||||||
(a) Effective December 31, 2010, we merged our then-existing two U.S. defined benefit pension plans (“Pension Plans Merger”) to form the Pension Plan. The discount rates used during Fiscal 2011 to calculate pension expense were rates of 5.0% through December 31, 2010 (the date of the Pension Plans Merger) and 5.5% | ||||||||||||||||||||||||
Component of net periodic pension expense and other postretirement benefit costs | ' | |||||||||||||||||||||||
Net periodic pension and other postretirement benefit costs relating to the Company’s employees include the following components: | ||||||||||||||||||||||||
Pension Benefits | Other Postretirement Benefits | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||
Service cost | $ | 8,211 | $ | 7,025 | $ | 7,176 | $ | 205 | $ | 152 | $ | 202 | ||||||||||||
Interest cost | 20,783 | 22,376 | 22,047 | 557 | 639 | 678 | ||||||||||||||||||
Expected return on assets | (24,791 | ) | (23,762 | ) | (23,937 | ) | (529 | ) | (481 | ) | (523 | ) | ||||||||||||
Curtailment gain | — | — | — | — | — | (3,245 | ) | |||||||||||||||||
Amortization of: | ||||||||||||||||||||||||
Prior service cost (benefit) | 249 | 249 | 302 | (420 | ) | (422 | ) | (694 | ) | |||||||||||||||
Actuarial loss | 13,463 | 7,853 | 6,838 | 336 | 355 | 427 | ||||||||||||||||||
Net benefit cost (income) | 17,915 | 13,741 | 12,426 | 149 | 243 | (3,155 | ) | |||||||||||||||||
Change in associated regulatory liabilities | — | — | — | 3,302 | 3,188 | 3,138 | ||||||||||||||||||
Benefit cost (income) after change in regulatory liabilities | $ | 17,915 | $ | 13,741 | $ | 12,426 | $ | 3,451 | $ | 3,431 | $ | (17 | ) | |||||||||||
Expected payments for pension benefits and other postretirement welfare benefits | ' | |||||||||||||||||||||||
Expected payments for pension benefits and other postretirement welfare benefits are as follows: | ||||||||||||||||||||||||
Pension | Other | |||||||||||||||||||||||
Benefits | Postretirement | |||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
Fiscal 2014 | $ | 23,021 | $ | 1,006 | ||||||||||||||||||||
Fiscal 2015 | 24,095 | 813 | ||||||||||||||||||||||
Fiscal 2016 | 25,238 | 769 | ||||||||||||||||||||||
Fiscal 2017 | 26,451 | 706 | ||||||||||||||||||||||
Fiscal 2018 | 27,744 | 676 | ||||||||||||||||||||||
Fiscal 2019 - 2023 | 155,907 | 3,156 | ||||||||||||||||||||||
Pension Plans | ' | |||||||||||||||||||||||
The targets, target ranges and actual allocations for the Pension Plan and VEBA trust assets at September 30 are as follows: | ||||||||||||||||||||||||
Target | ||||||||||||||||||||||||
Actual | Asset | Permitted | ||||||||||||||||||||||
Pension Plan: | 2013 | 2012 | Allocation | Range | ||||||||||||||||||||
Equity investments: | ||||||||||||||||||||||||
Domestic | 57.5 | % | 53.5 | % | 52.5 | % | 40.0% - 65.0% | |||||||||||||||||
International | 11.1 | % | 10.5 | % | 12.5 | % | 7.5% - 17.5% | |||||||||||||||||
Total | 68.6 | % | 64 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 31.4 | % | 36 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
Target | ||||||||||||||||||||||||
Actual | Asset | Permitted | ||||||||||||||||||||||
VEBA: | 2013 | 2012 | Allocation | Range | ||||||||||||||||||||
Domestic equity investments | 65.6 | % | 68.5 | % | 65 | % | 60.0% - 70.0% | |||||||||||||||||
Fixed income funds & cash equivalents | 34.4 | % | 31.5 | % | 35 | % | 30.0% - 40.0% | |||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | ||||||||||||||||||
Fair value of U.S. pension plan and VEBA trust assets | ' | |||||||||||||||||||||||
The fair values of the Pension Plan’s assets at September 30, 2013 and 2012, by asset class are as follows: | ||||||||||||||||||||||||
Pension Plan | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
Domestic equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 141,774 | $ | — | $ | — | $ | 141,774 | ||||||||||||||||
Small and Midcap equity mutual funds | 54,528 | — | — | 54,528 | ||||||||||||||||||||
UGI Corporation Common Stock | 32,551 | — | — | 32,551 | ||||||||||||||||||||
Total domestic equity investments | 228,853 | — | — | 228,853 | ||||||||||||||||||||
International index equity mutual funds | 44,452 | — | — | 44,452 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 120,906 | — | — | 120,906 | ||||||||||||||||||||
Cash equivalents | — | 3,960 | — | 3,960 | ||||||||||||||||||||
Total fixed income investments | 120,906 | 3,960 | $ | — | 124,866 | |||||||||||||||||||
Total | $ | 394,211 | $ | 3,960 | $ | — | $ | 398,171 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
Equity investments: | ||||||||||||||||||||||||
S&P 500 Index equity mutual funds | $ | 118,922 | $ | — | $ | — | $ | 118,922 | ||||||||||||||||
Small and Midcap equity mutual funds | 42,876 | — | — | 42,876 | ||||||||||||||||||||
UGI Corporation Common Stock | 26,445 | — | — | 26,445 | ||||||||||||||||||||
Total domestic equity investments | 188,243 | — | — | 188,243 | ||||||||||||||||||||
International index equity mutual funds | 36,908 | — | — | 36,908 | ||||||||||||||||||||
Fixed income investments: | ||||||||||||||||||||||||
Bond index mutual funds | 123,332 | — | — | 123,332 | ||||||||||||||||||||
Cash equivalents | — | 3,060 | — | 3,060 | ||||||||||||||||||||
Total fixed income investments | 123,332 | 3,060 | — | 126,392 | ||||||||||||||||||||
Total | $ | 348,483 | $ | 3,060 | $ | — | $ | 351,543 | ||||||||||||||||
The fair values of the VEBA trust assets at September 30, 2013 and 2012, by asset class are as follows: | ||||||||||||||||||||||||
VEBA | ||||||||||||||||||||||||
Quoted Prices | Significant | Unobservable | Total | |||||||||||||||||||||
in Active | Other | Inputs | ||||||||||||||||||||||
Markets for | Observable | (Level 3) | ||||||||||||||||||||||
Identical Assets | Inputs | |||||||||||||||||||||||
and Liabilities | (Level 2) | |||||||||||||||||||||||
(Level 1) | ||||||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7,693 | $ | — | $ | — | $ | 7,693 | ||||||||||||||||
Bond index mutual fund | 3,794 | — | — | 3,794 | ||||||||||||||||||||
Cash equivalents | — | 236 | — | 236 | ||||||||||||||||||||
Total | $ | 11,487 | $ | 236 | $ | — | $ | 11,723 | ||||||||||||||||
September 30, 2012: | ||||||||||||||||||||||||
S&P 500 Index equity mutual fund | $ | 7,678 | $ | — | $ | — | $ | 7,678 | ||||||||||||||||
Bond index mutual fund | 3,366 | — | — | 3,366 | ||||||||||||||||||||
Cash equivalents | — | 161 | — | 161 | ||||||||||||||||||||
Total | $ | 11,044 | $ | 161 | $ | — | $ | 11,205 | ||||||||||||||||
EquityBased_Compensation_Table
Equity-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||||
UGI unit award activity | ' | ||||||||||||||||||||
The following table summarizes UGI Unit award activity for Fiscal 2013: | |||||||||||||||||||||
Total | Vested | Non-Vested | |||||||||||||||||||
Number of | Weighted | Number of | Weighted | Number of | Weighted | ||||||||||||||||
UGI | Average | UGI | Average | UGI | Average | ||||||||||||||||
Units | Grant Date | Units | Grant Date | Units | Grant Date | ||||||||||||||||
Fair Value | Fair Value | Fair Value | |||||||||||||||||||
(per Unit) | (per Unit) | (per Unit) | |||||||||||||||||||
September 30, 2012 | 68,633 | $ | 29.72 | 24,130 | $ | 28.78 | 44,503 | $ | 30.23 | ||||||||||||
Granted | 20,800 | $ | 38.27 | 1,797 | $ | 38.27 | 19,003 | $ | 38.27 | ||||||||||||
Vested | — | $ | — | 13,768 | $ | 26.24 | (13,768 | ) | $ | 26.24 | |||||||||||
Forfeited | (9,069 | ) | $ | 33.65 | — | $ | — | (9,069 | ) | $ | 33.65 | ||||||||||
Performance criteria not met | (7,679 | ) | $ | 22.72 | (7,679 | ) | $ | 22.72 | — | $ | — | ||||||||||
Unit awards paid | (11,354 | ) | $ | 22.72 | (11,354 | ) | $ | 22.72 | — | $ | — | ||||||||||
September 30, 2013 | 61,331 | $ | 34.21 | 20,662 | $ | 33.49 | 40,669 | $ | 34.57 | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Financial assets and financial liabilities that are measured at fair value on a recurring basis | ' | |||||||||||||||
The following table presents our financial assets and financial liabilities that are measured at fair value on a recurring basis for each of the fair value hierarchy levels, including both current and noncurrent portions, as of September 30, 2013 and 2012: | ||||||||||||||||
Asset (Liability) | ||||||||||||||||
Quoted | Significant | Unobservable | Total | |||||||||||||
Prices in | Other | Inputs | ||||||||||||||
Active | Observable | (Level 3) | ||||||||||||||
Markets for | Inputs | |||||||||||||||
Identical | (Level 2) | |||||||||||||||
Assets and | ||||||||||||||||
Liabilities | ||||||||||||||||
(Level 1) | ||||||||||||||||
September 30, 2013 | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | 43 | $ | — | $ | — | $ | 43 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | (2,162 | ) | $ | (4,515 | ) | $ | — | $ | (6,677 | ) | |||||
September 30, 2012 | ||||||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | 5,468 | $ | — | $ | — | $ | 5,468 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments | ||||||||||||||||
Commodity contracts | $ | (671 | ) | $ | (8,766 | ) | $ | — | $ | (9,437 | ) | |||||
Interest rate contracts | $ | — | $ | (30,522 | ) | $ | — | $ | (30,522 | ) | ||||||
Disclosures_About_Derivative_I1
Disclosures About Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||
Balance sheet location and fair value of derivative assets and liabilities | ' | ||||||||||||||||||||
The following table provides information regarding the balance sheet location and fair values of derivative assets and liabilities existing as of September 30, 2013 and 2012: | |||||||||||||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||||||||||||
Balance Sheet | Fair Value | Balance Sheet | Fair Value | ||||||||||||||||||
Location | 2013 | 2012 | Location | 2013 | 2012 | ||||||||||||||||
Derivatives Designated as Hedging Instruments: | |||||||||||||||||||||
Interest rate contracts | $ | — | $ | — | Derivative financial instruments and Other noncurrent liabilities | $ | — | $ | (30,522 | ) | |||||||||||
Derivatives Accounted for Under ASC 980: | |||||||||||||||||||||
Commodity contracts | Derivative financial instruments | 31 | 5,303 | Derivative financial instruments and Other noncurrent liabilities | (6,677 | ) | (9,437 | ) | |||||||||||||
Derivatives Not Designated as Hedging Instruments: | |||||||||||||||||||||
Commodity contracts | Derivative financial instruments | 12 | 165 | — | — | ||||||||||||||||
Total Derivatives | $ | 43 | $ | 5,468 | $ | (6,677 | ) | $ | (39,959 | ) | |||||||||||
Effects of derivative instruments on the Consolidated Statements of Income and changes in AOCI | ' | ||||||||||||||||||||
The following table provides information on the effects of derivative instruments on the Consolidated Statements of Income and changes in AOCI for Fiscal 2013 and 2012: | |||||||||||||||||||||
Gain (Loss) Recognized in AOCI | Gain (Loss) Reclassified from AOCI into Income | Location of Gain or | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | (Loss) Reclassified from AOCI into Income | |||||||||||||||||
Cash Flow Hedges: | |||||||||||||||||||||
Interest rate contracts | $ | 25,898 | $ | (11,528 | ) | $ | (805 | ) | $ | (1,847 | ) | Interest expense | |||||||||
Derivatives Not Designated | |||||||||||||||||||||
as Hedging Instruments: | Gain Recognized in Income | Location of Gain Recognized in Income | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Commodity contracts | $ | 45 | $ | 223 | Operating expenses/other income, net | ||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
Financial information by business segment follows: | ||||||||||||||||
Total | Gas | Electric | Other | |||||||||||||
Utility | Utility | |||||||||||||||
2013 | ||||||||||||||||
Revenues | $ | 940,712 | $ | 839,050 | $ | 99,986 | $ | 1,676 | ||||||||
Cost of sales | 465,996 | 407,222 | 58,774 | — | ||||||||||||
Depreciation and amortization | 55,716 | 51,698 | 4,018 | — | ||||||||||||
Operating income | 210,319 | 198,352 | 11,385 | 582 | ||||||||||||
Interest expense | 39,309 | 37,280 | 2,029 | — | ||||||||||||
Income before income taxes | 171,010 | 161,072 | 9,356 | 582 | ||||||||||||
Total assets | 2,210,322 | 2,068,955 | 141,367 | — | ||||||||||||
Goodwill | 182,145 | 182,145 | — | — | ||||||||||||
Capital expenditures | 151,090 | 144,399 | 6,691 | — | ||||||||||||
2012 | ||||||||||||||||
Revenues | $ | 884,333 | $ | 785,375 | $ | 97,130 | $ | 1,828 | ||||||||
Cost of sales | 459,079 | 402,534 | 56,545 | — | ||||||||||||
Depreciation and amortization | 52,792 | 48,992 | 3,800 | — | ||||||||||||
Operating income | 185,383 | 172,164 | 12,610 | 609 | ||||||||||||
Interest expense | 42,412 | 40,139 | 2,273 | — | ||||||||||||
Income before income taxes | 142,971 | 132,025 | 10,337 | 609 | ||||||||||||
Total assets | 2,196,173 | 2,045,480 | 150,693 | — | ||||||||||||
Goodwill | 182,145 | 182,145 | — | — | ||||||||||||
Capital expenditures | 114,090 | 109,020 | 5,070 | — | ||||||||||||
2011 | ||||||||||||||||
Revenues | $ | 1,137,366 | $ | 1,026,397 | $ | 109,145 | $ | 1,824 | ||||||||
Cost of sales | 678,500 | 610,635 | 67,865 | — | ||||||||||||
Depreciation and amortization | 52,546 | 48,350 | 4,196 | — | ||||||||||||
Operating income | 211,421 | 199,643 | 11,384 | 394 | ||||||||||||
Interest expense | 42,728 | 40,374 | 2,354 | — | ||||||||||||
Income before income taxes | 168,693 | 159,269 | 9,030 | 394 | ||||||||||||
Total assets | 2,169,348 | 2,028,705 | 140,643 | — | ||||||||||||
Goodwill | 182,145 | 182,145 | — | — | ||||||||||||
Capital expenditures | 98,856 | 91,328 | 7,528 | — | ||||||||||||
Other_Income_Net_Tables
Other Income, Net (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Other Income [Abstract] | ' | |||||||||||
Other income, net | ' | |||||||||||
Other income, net, comprises the following: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Non-tariff service income | $ | 2,706 | $ | 2,653 | $ | 6,422 | ||||||
Interest income | 500 | 572 | 467 | |||||||||
Postretirement benefit plan curtailment gain | — | — | 3,245 | |||||||||
Other, net | 1,622 | 1,764 | 630 | |||||||||
Total other income, net | $ | 4,828 | $ | 4,989 | $ | 10,764 | ||||||
Quarterly_Data_unaudited_Table
Quarterly Data (unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information | ' | |||||||||||||||||||||||||||||||
The following quarterly information includes all adjustments (consisting only of normal recurring adjustments) which we consider necessary for a fair presentation of such information. Quarterly results fluctuate because of the seasonal nature of the Company’s businesses. | ||||||||||||||||||||||||||||||||
December 31, | March 31, | June 30, | September 30, | |||||||||||||||||||||||||||||
2012 | 2011 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Revenues | $ | 273,797 | $ | 280,641 | $ | 395,901 | $ | 345,802 | $ | 148,798 | $ | 143,644 | $ | 122,216 | $ | 114,246 | ||||||||||||||||
Operating income | $ | 72,564 | $ | 64,605 | $ | 109,230 | $ | 88,447 | $ | 18,878 | $ | 25,300 | $ | 9,647 | $ | 7,031 | ||||||||||||||||
Net income (loss) | $ | 36,812 | $ | 32,668 | $ | 58,259 | $ | 47,871 | $ | 5,373 | $ | 8,460 | $ | 1,654 | $ | (1,101 | ) | |||||||||||||||
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Components of AOCI | ' | ' |
Postretirement Benefit Plans | ($5,283) | ($10,756) |
Derivative Instruments Net Losses | -3,437 | -19,061 |
Total | ($8,720) | ($29,817) |
Significant_Accounting_Policie4
Significant Accounting Policies Textuals (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Gas Utility [Member] | Gas Utility [Member] | Gas Utility [Member] | Electric Utility [Member] | Electric Utility [Member] | Electric Utility [Member] | ||
Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Error in the classification of deferred income tax assets, amount | $27,006 | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Depreciation expense as percentage of related average depreciable base | ' | 2.30% | 2.20% | 2.30% | 2.40% | 2.40% | 2.60% |
Regulatory_Assets_and_Liabilit2
Regulatory Assets and Liabilities and Regulatory Matters (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | $244,911 | $338,405 |
Regulatory Liabilities | 37,287 | 28,344 |
Postretirement benefits [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 16,497 | 13,147 |
Environmental overcollections [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 2,552 | 2,883 |
Deferred fuel and power refunds [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 8,283 | 4,435 |
State tax benefits - distribution system repairs [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 8,453 | 7,385 |
Other [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Liabilities | 1,502 | 494 |
Income taxes recoverable [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 106,069 | 103,172 |
Underfunded pension and postretirement plans [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 94,515 | 188,222 |
Environmental costs [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 17,054 | 16,812 |
Deferred fuel and power costs [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 8,283 | 11,602 |
Removal costs, net [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | 13,333 | 12,718 |
Other [Member] | ' | ' |
Regulatory Assets and Liabilities [Line Items] | ' | ' |
Regulatory Assets | $5,657 | $5,879 |
Regulatory_Assets_and_Liabilit3
Regulatory Assets and Liabilities and Regulatory Matters Textual (Details) (USD $) | 0 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | |||||||
Oct. 21, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 01, 2010 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2012 | Oct. 03, 2012 | Feb. 19, 2013 | |
mi | UGI Central Penn Gas Inc [Member] | Minimum [Member] | Maximum [Member] | UGI Storage Company [Member] | Allentown, Pennsylvania Natural Gas Explosion [Member] | Revised Penalty [Member] | |||||
UGI Central Penn Gas Inc [Member] | Damage from Natural Gas Explosion [Member] | Allentown Incident [Member] | |||||||||
Schedule of Regulatory Assets and Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average remaining depreciable lives of the associated property | ' | ' | ' | ' | ' | ' | '1 year | '50 years | ' | ' | ' |
Unrealized gains (losses) on derivative financial instruments contracts | ' | ($1,743,000) | $5,303,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of electric utility electricity supply contracts | ' | 4,759,000 | 9,207,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum period to recover costs related to other regulatory assets | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum period to recover costs related to other regulatory assets | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Penalty Assessed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 |
Site Contingency, Accelerated Time Frame Replacing Remainder of Cast-Iron Mains | ' | ' | ' | ' | ' | ' | ' | ' | ' | '14 years | ' |
Loss Contingency, Agreement Permitted To Retain Current Timeframe for Replacing The Remainder of Their Bare Steel Mains | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 years | ' |
Additional base rate revenue using for increased distribution rates per settlement agreement | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' | ' | ' |
Base rate revenue increase for use in CPG's Energy and Efficiency Program | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' |
Reversal of Previous Increase in Base Rate Revenue | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' |
Net book value of the Auburn line | ' | 2,650,000 | ' | ' | 1,109,000 | ' | ' | ' | ' | ' | ' |
Agreement To Charge Customers, Period | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net book value of the storage facility assets | ' | ' | ' | 10,949,000 | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Regulatory Assets and Liabilities | ' | $384 | ' | $308,000 | $180,000 | ' | ' | ' | ' | ' | ' |
Storage agreement, term | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' |
Approval of the transfer length of natural gas pipeline (in miles) | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' |
Inventories_Details
Inventories (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Total inventories | $89,661 | $67,334 |
Gas Utility natural gas [Member] | ' | ' |
Inventory, Net [Abstract] | ' | ' |
Total inventories | 78,950 | 57,663 |
Materials, supplies and other [Member] | ' | ' |
Inventory, Net [Abstract] | ' | ' |
Total inventories | $10,711 | $9,671 |
Inventories_Textuals_Details
Inventories Textuals (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 01, 2013 | Nov. 01, 2013 |
In Thousands, unless otherwise specified | ft3 | ft3 | SCAAs [Member] | SCAAs [Member] | SCAAs [Member] | Other current liabilities [Member] | Other current liabilities [Member] | New Storage Agreement [Member] | New Storage Agreement [Member] |
Storage_Agreement | Expires in October 2012 [Member] | Expires in October 2013 [Member] | SCAAs [Member] | SCAAs [Member] | SCAAs [Member] | SCAAs [Member] | |||
Storage_Agreement | Storage_Agreement | UGI Energy Services, Inc. [Member] | |||||||
Public Utilities, Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of storage agreements | ' | ' | 3 | 1 | 2 | ' | ' | ' | ' |
Security Deposit Liability | ' | ' | ' | ' | ' | $16,500 | $22,500 | ' | ' |
Storage agreement, term (in years) | ' | ' | ' | ' | ' | ' | ' | '3 years | '1 year |
Inventory, Net [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Volume of gas storage inventories released under SCAAs with non-affiliates (In Cubic Feet) | 11,000,000,000 | 11,400,000,000 | ' | ' | ' | ' | ' | ' | ' |
Carrying value of gas storage inventories released under SCAAs with non-affiliates | $44,366 | $32,627 | ' | ' | ' | ' | ' | ' | ' |
Property_Plant_and_Equipment_D
Property Plant and Equipment (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | $2,427,810 | $2,295,669 |
Distribution [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | 2,162,580 | 2,047,780 |
Transmission [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | 86,623 | 85,430 |
General and other, including contruction in process [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Utilities | $178,607 | $162,459 |
Debt_Details
Debt (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Long-term Debt | ' | ' |
Carrying value long-term debt | $642,000 | $600,000 |
Less: current maturities | 0 | -133,000 |
Total long-term debt due after one year | 642,000 | 467,000 |
Term Loan Credit Agreement [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 175,000 | 0 |
6.375%, due September 2013 [Member] | Senior Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 0 | 108,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.38% | ' |
5.75%, due September 2016 [Member] | Senior Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 175,000 | 175,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | ' |
6.21%, due September 2036 [Member] | Senior Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 100,000 | 100,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.21% | ' |
5.53%, due September 2012 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 5.53% | ' |
5.37%, due August 2013 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 0 | 25,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.37% | ' |
5.16%, due May 2015 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 20,000 | 20,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.16% | ' |
7.37%, due October 2015 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 22,000 | 22,000 |
Debt Instrument, Interest Rate, Stated Percentage | 7.37% | ' |
5.64%, due December 2015 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 50,000 | 50,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.64% | ' |
6.17%, due June 2017 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 20,000 | 20,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.17% | ' |
7.25%, due November 2017 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 20,000 | 20,000 |
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ' |
5.67%, due January 2018 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 20,000 | 20,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.67% | ' |
6.50%, due August 2033 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | 20,000 | 20,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.50% | ' |
6.13%, due October 2034 [Member] | Medium-term Notes [Member] | ' | ' |
Long-term Debt | ' | ' |
Carrying value long-term debt | $20,000 | $20,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.13% | ' |
Debt_Textual_Details
Debt Textual (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Maturities of Long-term Debt [Abstract] | ' | ' |
Due in Fiscal 9/30/2013 | $0 | ' |
Due in Fiscal 9/30/2014 | 20,000 | ' |
Due in Fiscal 9/30/2015 | 247,000 | ' |
Due in Fiscal 9/30/2016 | 20,000 | ' |
Due in Fiscal 9/30/2017 | 40,000 | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 642,000 | 600,000 |
UGI Utilities 2011 Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Credit agreement | 300,000 | ' |
Borrowings outstanding, amount | 17,500 | 9,200 |
Line of Credit Facility, Interest Rate at Period End | 1.18% | 1.21% |
Credit agreement outstanding, amount | 2,000 | 2,000 |
Letter of Credit [Member] | UGI Utilities 2011 Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Revolving credit agreement sublimit for letters of credit | 100,000 | ' |
Minimum [Member] | UGI Utilities 2011 Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Margin on term loan base rate borrowings | 0.00% | ' |
Maximum [Member] | UGI Utilities 2011 Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Margin on term loan base rate borrowings | 2.00% | ' |
Term Loan Credit Agreement [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 175,000 | 0 |
Margin on term loan base rate borrowings | 0.60% | ' |
Debt Instrument, Term | '364 days | ' |
Senior Notes [Member] | 6.375%, due September 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 0 | 108,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.38% | ' |
Senior Notes [Member] | Senior Notes due March 2044 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $175,000 | ' |
Debt Instrument, Interest Rate, Stated Percentage | 4.98% | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Current expense (benefit): | ' | ' | ' |
Federal | $21,807 | ($909) | $10,447 |
State | 11,824 | 2,735 | 2,227 |
Total current expense (benefit) | 33,631 | 1,826 | 12,674 |
Deferred Federal Income Tax Expense (Benefit) | 33,349 | 48,336 | 48,967 |
Deferred State and Local Income Tax Expense (Benefit) | 2,274 | 5,257 | 2,207 |
Investment tax credit amortization | -342 | -346 | -351 |
Total income tax expense | $68,912 | $55,073 | $63,497 |
Income_Taxes_Reconciliation_fr
Income Taxes (Reconciliation from US federal statutory tax rate to UGU effective tax rate) (Details) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
A reconciliation from the U.S. federal statutory tax rate to our effective tax rate | ' | ' | ' |
U.S. federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Difference in tax rate due to: | ' | ' | ' |
State income taxes, net of federal benefit | 5.40% | 4.10% | 1.60% |
Other, net | -0.10% | -0.60% | 1.00% |
Effective tax rate | 40.30% | 38.50% | 37.60% |
Income_Taxes_Deferred_tax_liab
Income Taxes (Deferred tax liabilities (assets)) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax liabilities (assets) | ' | ' |
Excess book basis over tax basis of property, plant and equipment | $362,259 | $330,937 |
Goodwill | 31,516 | 26,998 |
Regulatory assets | 101,622 | 140,416 |
Other | 949 | 601 |
Gross deferred tax liabilities | 496,346 | 498,952 |
Pension plan liabilities | -35,996 | -72,652 |
Allowance for doubtful accounts | -2,290 | -1,489 |
Deferred investment tax credits | -1,772 | -1,914 |
Employee-related expenses | -5,850 | -4,859 |
Regulatory liabilities | -15,472 | -11,761 |
Environmental liabilities | -7,002 | -7,195 |
Derivative financial instruments | -3,397 | -16,264 |
Other | -1,922 | -12,202 |
Gross deferred tax assets | -73,701 | -128,336 |
Net deferred tax liabilities | $422,645 | $370,616 |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of the beginning and ending amounts of unrecognized tax benefits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Reconciliation of beginning and ending amount of unrecognized tax benefit | ' | ' | ' |
Beginning Balance | $1,048 | $4,898 | $4,194 |
Additions for tax positions of the current year | ' | ' | 920 |
Additions for tax positions of prior years | 39 | 81 | ' |
Settlements with tax authorities | ' | -3,931 | -216 |
Ending Balance | $1,087 | $1,048 | $4,898 |
Income_Taxes_Textual_Details
Income Taxes Textual (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Investment Income, Interest | $0 | ($209) | $219 | ' |
Accrued interest included in unrecognized income tax benefits | 56 | ' | ' | ' |
Unrecognized tax benefits if recognized would impact the reported effective tax rate | 56 | ' | ' | ' |
Tax positions for which the deductibility is highly certain but uncertainty about the timing | 1,087 | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Operating Loss Carryforwards | 18,271 | ' | ' | ' |
Unrecognized income tax benefits | 1,087 | 1,048 | 4,898 | 4,194 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 39 | 124 | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 43 | ' | ' | ' |
Accrued Interest Included [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Unrecognized income tax benefits | 1,143 | ' | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Income Tax Expense (Benefit), Accelerated Depreciation | ($1,538) | ($3,198) | ($7,926) | ' |
Employee_Retirement_Plans_Reco
Employee Retirement Plans (Reconciliations) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
(Liabilities) recorded in the balance sheet: | ' | ' | ' |
Unfunded liabilities — included in other current liabilities | ($17,885) | ($15,802) | ' |
Unfunded liabilities — included in other noncurrent liabilities | -72,505 | -179,056 | ' |
Pension Benefits [Member] | ' | ' | ' |
Change in benefit obligations: | ' | ' | ' |
Benefit obligations - beginning of the year | 543,605 | 456,714 | ' |
Service cost | 9,385 | 8,063 | ' |
Interest cost | 22,784 | 24,095 | ' |
Actuarial loss (gain) | -69,112 | 74,676 | ' |
Plan amendments | 993 | 0 | ' |
Benefits paid | -21,187 | -19,943 | ' |
Benefit obligations - end of the year | 486,468 | 543,605 | 456,714 |
Change in plan assets: | ' | ' | ' |
Fair value of plan assets - beginning of year | 351,543 | 289,764 | ' |
Actual gain on assets | 45,450 | 50,550 | ' |
Employer contributions | 22,365 | 31,172 | 18,718 |
Benefits paid | -21,187 | -19,943 | ' |
Fair value of plan assets - end of year | 398,171 | 351,543 | 289,764 |
Funded status of the plans - end of the year | -88,297 | -192,062 | ' |
(Liabilities) recorded in the balance sheet: | ' | ' | ' |
Assets in excess of liabilities — included in other noncurrent assets | 0 | 0 | ' |
Unfunded liabilities — included in other current liabilities | -17,885 | -15,802 | ' |
Unfunded liabilities — included in other noncurrent liabilities | -70,412 | -176,260 | ' |
Net amount recognized | -88,297 | -192,062 | ' |
Amounts recorded in stockholder’s equity (pre-tax): | ' | ' | ' |
Prior service cost (credit) | 222 | 152 | ' |
Net actuarial loss (gain) | 9,113 | 18,099 | ' |
Total | 9,335 | 18,251 | ' |
Amounts recorded in regulatory assets and liabilities (pre-tax): | ' | ' | ' |
Prior service cost (credit) | 2,223 | 1,550 | ' |
Net actuarial loss | 91,275 | 184,464 | ' |
Total | 93,498 | 186,014 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Change in benefit obligations: | ' | ' | ' |
Benefit obligations - beginning of the year | 14,560 | 13,333 | ' |
Service cost | 223 | 162 | ' |
Interest cost | 587 | 665 | ' |
Actuarial loss (gain) | -1,881 | 1,464 | ' |
Plan amendments | -1,836 | 0 | ' |
Benefits paid | -965 | -1,064 | ' |
Benefit obligations - end of the year | 10,688 | 14,560 | ' |
Change in plan assets: | ' | ' | ' |
Fair value of plan assets - beginning of year | 11,205 | 9,805 | ' |
Actual gain on assets | 1,117 | 1,741 | ' |
Employer contributions | 366 | 723 | ' |
Benefits paid | -965 | -1,064 | ' |
Fair value of plan assets - end of year | 11,723 | 11,205 | ' |
Funded status of the plans - end of the year | 1,035 | -3,355 | ' |
(Liabilities) recorded in the balance sheet: | ' | ' | ' |
Assets in excess of liabilities — included in other noncurrent assets | 3,252 | 0 | ' |
Unfunded liabilities — included in other current liabilities | -372 | -654 | ' |
Unfunded liabilities — included in other noncurrent liabilities | -1,844 | -2,701 | ' |
Net amount recognized | 1,036 | -3,355 | ' |
Amounts recorded in stockholder’s equity (pre-tax): | ' | ' | ' |
Prior service cost (credit) | -74 | -79 | ' |
Net actuarial loss (gain) | -222 | 164 | ' |
Total | -296 | 85 | ' |
Amounts recorded in regulatory assets and liabilities (pre-tax): | ' | ' | ' |
Prior service cost (credit) | -4,286 | -2,766 | ' |
Net actuarial loss | 3,586 | 5,815 | ' |
Total | ($700) | $3,049 | ' |
Employee_Retirement_Plans_Weig
Employee Retirement Plans (Weighted-average assumptions) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Dec. 31, 2010 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Pension Plans [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumptions: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | 5.30% | [1] | 5.20% | 4.20% | 5.30% | [1] |
Discount rate - benefit cost | 5.00% | 5.50% | 4.20% | 5.30% | 5.00% | [1] | |
Expected return on plan assets | ' | ' | 7.75% | 7.75% | 8.00% | [1] | |
Rate of increase in salary levels | ' | ' | 3.25% | 3.25% | 3.50% | [1] | |
Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumptions: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | 5.30% | ' | ' | 5.30% | ||
Discount rate - benefit cost | ' | ' | ' | 5.30% | 5.00% | ||
Expected return on plan assets | ' | ' | 5.00% | 5.20% | 5.50% | ||
Rate of increase in salary levels | ' | ' | 3.25% | 3.25% | 3.50% | ||
Minimum [Member] | Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumptions: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | ' | 5.10% | 4.10% | ' | ||
Discount rate - benefit cost | ' | ' | 4.10% | ' | ' | ||
Maximum [Member] | Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ||
Weighted-average assumptions: | ' | ' | ' | ' | ' | ||
Discount rate - benefit obligations | ' | ' | 5.40% | 4.30% | ' | ||
Discount rate - benefit cost | ' | ' | 4.30% | ' | ' | ||
[1] | were rates of 5.0% through December 31, 2010 (the date of the Pension Plans Merger) and 5.5% |
Employee_Retirement_Plans_Net_
Employee Retirement Plans (Net periodic pension expense and other postretirement benefit costs) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Pension Benefits [Member] | ' | ' | ' |
Components of Net periodic pension expense and other postretirement benefit costs [Abstract] | ' | ' | ' |
Service cost | $9,385 | $8,063 | ' |
Interest cost | 22,784 | 24,095 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Components of Net periodic pension expense and other postretirement benefit costs [Abstract] | ' | ' | ' |
Service cost | 223 | 162 | ' |
Interest cost | 587 | 665 | ' |
UGI Utilities Employees [Member] | Pension Benefits [Member] | ' | ' | ' |
Components of Net periodic pension expense and other postretirement benefit costs [Abstract] | ' | ' | ' |
Service cost | 8,211 | 7,025 | 7,176 |
Interest cost | 20,783 | 22,376 | 22,047 |
Expected return on assets | -24,791 | -23,762 | -23,937 |
Curtailment gain | 0 | 0 | 0 |
Amortization of: | ' | ' | ' |
Prior service cost (benefit) | 249 | 249 | 302 |
Actuarial loss | 13,463 | 7,853 | 6,838 |
Net benefit cost (income) | 17,915 | 13,741 | 12,426 |
Change in associated regulatory liabilities | 0 | 0 | 0 |
Benefit cost (income) after change in regulatory liabilities | 17,915 | 13,741 | 12,426 |
UGI Utilities Employees [Member] | Other Postretirement Benefits [Member] | ' | ' | ' |
Components of Net periodic pension expense and other postretirement benefit costs [Abstract] | ' | ' | ' |
Service cost | 205 | 152 | 202 |
Interest cost | 557 | 639 | 678 |
Expected return on assets | -529 | -481 | -523 |
Curtailment gain | 0 | 0 | -3,245 |
Amortization of: | ' | ' | ' |
Prior service cost (benefit) | -420 | -422 | -694 |
Actuarial loss | 336 | 355 | 427 |
Net benefit cost (income) | 149 | 243 | -3,155 |
Change in associated regulatory liabilities | 3,302 | 3,188 | 3,138 |
Benefit cost (income) after change in regulatory liabilities | $3,451 | $3,431 | ($17) |
Employee_Retirement_Plans_Expe
Employee Retirement Plans (Expected payments for pension benefits and other postretirement welfare benefits) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Pension Benefits [Member] | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' |
Fiscal 2013 | $23,021 |
Fiscal 2014 | 24,095 |
Fiscal 2015 | 25,238 |
Fiscal 2016 | 26,451 |
Fiscal 2017 | 27,744 |
Fiscal 2018 - 2022 | 155,907 |
Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | ' |
Fiscal 2013 | 1,006 |
Fiscal 2014 | 813 |
Fiscal 2015 | 769 |
Fiscal 2016 | 706 |
Fiscal 2017 | 676 |
Fiscal 2018 - 2022 | $3,156 |
Employee_Retirement_Plans_Targ
Employee Retirement Plans (Targets, target ranges and actual allocations for the Company Pension Plans’ and VEBA trust assets) (Details) | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Pension Benefits [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 100.00% | 100.00% |
Target Asset Allocation | 100.00% | ' |
Pension Benefits [Member] | Domestic [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 57.50% | 53.50% |
Target Asset Allocation | 52.50% | ' |
Permitted Range - Minimum | 40.00% | ' |
Permitted Range - Maximum | 65.00% | ' |
Pension Benefits [Member] | International [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 11.10% | 10.50% |
Target Asset Allocation | 12.50% | ' |
Permitted Range - Minimum | 7.50% | ' |
Permitted Range - Maximum | 17.50% | ' |
Pension Benefits [Member] | Equity Securities [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 68.60% | 64.00% |
Target Asset Allocation | 65.00% | ' |
Permitted Range - Minimum | 60.00% | ' |
Permitted Range - Maximum | 70.00% | ' |
Pension Benefits [Member] | Fixed income funds and cash equivalents [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 31.40% | 36.00% |
Target Asset Allocation | 35.00% | ' |
Permitted Range - Minimum | 30.00% | ' |
Permitted Range - Maximum | 40.00% | ' |
VEBA Trust [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 100.00% | 100.00% |
Target Asset Allocation | 100.00% | ' |
VEBA Trust [Member] | Domestic [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 65.60% | 68.50% |
Target Asset Allocation | 65.00% | ' |
Permitted Range - Minimum | 60.00% | ' |
Permitted Range - Maximum | 70.00% | ' |
VEBA Trust [Member] | Fixed income funds and cash equivalents [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Actual Pension Plan | 34.40% | 31.50% |
Target Asset Allocation | 35.00% | ' |
Permitted Range - Minimum | 30.00% | ' |
Permitted Range - Maximum | 40.00% | ' |
Employee_Retirement_Plans_Fair
Employee Retirement Plans (Fair values of pension plans' assets and VEBA trust assets) (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Thousands, unless otherwise specified | |||
Pension Benefits [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | $398,171 | $351,543 | $289,764 |
Pension Benefits [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 141,774 | 118,922 | ' |
Pension Benefits [Member] | Small and Midcap equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 54,528 | 42,876 | ' |
Pension Benefits [Member] | UGI Corporation Common Stock [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 32,551 | 26,445 | ' |
Pension Benefits [Member] | Domestic [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 228,853 | 188,243 | ' |
Pension Benefits [Member] | International [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 44,452 | 36,908 | ' |
Pension Benefits [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 120,906 | 123,332 | ' |
Pension Benefits [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 3,960 | 3,060 | ' |
Pension Benefits [Member] | Fixed income [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 124,866 | 126,392 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 394,211 | 348,483 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 141,774 | 118,922 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | Small and Midcap equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 54,528 | 42,876 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | UGI Corporation Common Stock [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 32,551 | 26,445 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | Domestic [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 228,853 | 188,243 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | International [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 44,452 | 36,908 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 120,906 | 123,332 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 1 [Member] | Fixed income [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 120,906 | 123,332 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 3,960 | 3,060 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | Small and Midcap equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | UGI Corporation Common Stock [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | Domestic [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | International [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 3,960 | 3,060 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 2 [Member] | Fixed income [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 3,960 | 3,060 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | Small and Midcap equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | UGI Corporation Common Stock [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | Domestic [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | International [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Pension Benefits [Member] | Fair Value, Inputs, Level 3 [Member] | Fixed income [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 11,723 | 11,205 | ' |
VEBA Trust [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 7,693 | 7,678 | ' |
VEBA Trust [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 3,794 | 3,366 | ' |
VEBA Trust [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 236 | 161 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 11,487 | 11,044 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 1 [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 7,693 | 7,678 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 1 [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 3,794 | 3,366 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 1 [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 236 | 161 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 2 [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 2 [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 2 [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 236 | 161 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 3 [Member] | S&P 500 Index equity mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 3 [Member] | Bond index mutual funds [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
VEBA Trust [Member] | Fair Value, Inputs, Level 3 [Member] | Cash equivalents [Member] | ' | ' | ' |
Fair Value of Pension Plan Assets | ' | ' | ' |
Fair Value of Plan Assets | $0 | $0 | ' |
Employee_Retirement_Plans_Text
Employee Retirement Plans Textual (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Amortization of net actuarial losses for Fiscal 2013 | ($6,800) | ' | ' |
Amortization of net prior service credits for Fiscal 2013 | -300 | ' | ' |
Projected benefit obligations of unfunded and non qualified supplemental executive retirement plans | 3,550 | 2,507 | ' |
Net cost to sponsor unfunded and non-qualified supplemental executive retirement plans | 498 | 255 | 583 |
The aggregate holdings of all qualifying employer securities not to exceed the fair value of trust assets at the time of purchase | 10.00% | ' | ' |
Percentage of UGI Common Stock represented Pension Plan Assets | 8.20% | 7.50% | ' |
Cost of benefits under the 401(k) savings plan | 1,762 | 1,690 | 1,820 |
Pension Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
ABO for the Pension Plans | 451,228 | 496,395 | ' |
Benefit obligations | 486,468 | 543,605 | 456,714 |
Expected contribution to pensions plans in next twelve months | -17,900 | ' | ' |
Pension Benefits [Member] | Employees of UGI and Certain of its Other Subsidiaries [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligations | 44,161 | 48,570 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Benefit obligations | 10,688 | 14,560 | 13,333 |
Other Postretirement Benefits [Member] | Employees of UGI and Certain of its Other Subsidiaries [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
ABO for the Pension Plans | $787 | $869 | ' |
Fiscal 2017 [Member] | Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 7.00% | ' | ' |
Fiscal 2017 [Member] | Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 5.00% | ' | ' |
Fiscal 2019 [Member] | Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 7.50% | ' | ' |
Fiscal 2019 [Member] | Minimum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Assumed domestic health care cost range | 5.00% | ' | ' |
Series_Preferred_Stock_Details
Series Preferred Stock (Details) | Sep. 30, 2013 |
Series Preferred Stock [Abstract] | ' |
Preferred Stock, Authorized | 2,000,000 |
EquityBased_Compensation_Detai
Equity-Based Compensation (Details) (USD $) | 12 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' |
Number of Equity-based Units, beginning balance | 68,633 |
Number of UGI Units, Granted | 20,800 |
Number of UGI Units, Vested | 0 |
Number of UGI Units, Forfeited | -9,069 |
Number of UGI Units, performance criteria not met | -7,679 |
Number of UGI Units, unit awards paid | -11,354 |
Number of Equity-based Units, ending balance | 61,331 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted Average Grant Date Fair Value, beginning of period | $29.72 |
Weighted Average Grant Date Fair Value, Granted | $38.27 |
Weighted Average Grant Date Fair Value, Vested | ' |
Weighted Average Grant Date Fair Value, Forfeited | $33.65 |
Weighted Average Grant Date Fair Value, performance criteria not met | $22.72 |
Weighted Average Grant Date Fair Value, unit awards paid | $22.72 |
Weighted Average Grant Date Fair Value, end of period | $34.21 |
Vested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' |
Number of Equity-based Units, beginning balance | 24,130 |
Number of UGI Units, Granted | 1,797 |
Number of UGI Units, Vested | -13,768 |
Number of UGI Units, Forfeited | 0 |
Number of UGI Units, performance criteria not met | -7,679 |
Number of UGI Units, unit awards paid | -11,354 |
Number of Equity-based Units, ending balance | 20,662 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted Average Grant Date Fair Value, beginning of period | $28.78 |
Weighted Average Grant Date Fair Value, Granted | $38.27 |
Weighted Average Grant Date Fair Value, Vested | $26.24 |
Weighted Average Grant Date Fair Value, Forfeited | $0 |
Weighted Average Grant Date Fair Value, performance criteria not met | $22.72 |
Weighted Average Grant Date Fair Value, unit awards paid | $22.72 |
Weighted Average Grant Date Fair Value, end of period | $33.49 |
Non-Vested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' |
Number of Equity-based Units, beginning balance | 44,503 |
Number of UGI Units, Granted | 19,003 |
Number of UGI Units, Vested | -13,768 |
Number of UGI Units, Forfeited | -9,069 |
Number of UGI Units, performance criteria not met | 0 |
Number of UGI Units, unit awards paid | ' |
Number of Equity-based Units, ending balance | 40,669 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted Average Grant Date Fair Value, beginning of period | $30.23 |
Weighted Average Grant Date Fair Value, Granted | $38.27 |
Weighted Average Grant Date Fair Value, Vested | $26.24 |
Weighted Average Grant Date Fair Value, Forfeited | $33.65 |
Weighted Average Grant Date Fair Value, performance criteria not met | $0 |
Weighted Average Grant Date Fair Value, unit awards paid | ' |
Weighted Average Grant Date Fair Value, end of period | $34.57 |
EquityBased_Compensation_Textu
Equity-Based Compensation Textual (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Nonvested, Number of Equity-based Units | 61,331 | 68,633 | ' |
Share Based Compensation Types, Excluding Stock Options [Member] | UGI Omnibus Equity Compensation Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '3 years | ' | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '10 years | ' | ' |
Options can be exercised | 'no later than ten years from the grant date | ' | ' |
Performance Unit [Member] | UGI Units and UGI Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Allocated share-based compensation expense | $1,078 | $783 | $1,110 |
Allocated share-based compensation expense, after-tax | 631 | 458 | 650 |
Performance Unit [Member] | UGI Units and UGI Stock Options [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percent of target award paid to grantee | 0.00% | ' | ' |
Performance Unit [Member] | UGI Units and UGI Stock Options [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Percent of target award paid to grantee | 200.00% | ' | ' |
Performance Unit [Member] | UGI Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Nonvested awards, total compensation cost not yet recognized | 682 | ' | ' |
Nonvested awards, total compensation cost not yet recognized, period for recognition | '2 years | ' | ' |
Performance Unit [Member] | UGI Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Nonvested awards, total compensation cost not yet recognized | 758 | ' | ' |
Nonvested awards, total compensation cost not yet recognized, period for recognition | '1 year 10 months 24 days | ' | ' |
Nonvested, Number of Equity-based Units | 61,331 | ' | ' |
Performance Unit [Member] | UGI Units [Member] | Other current liabilities [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Deferred compensation arrangements, liability, current | 360 | ' | ' |
Performance Unit [Member] | UGI Units [Member] | Other noncurrent liabilities [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Deferred compensation arrangements, liability, classified, noncurrent | ' | $143 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies (Commitments) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Aggregate rental expense for leases | $6,270 | $6,362 | $5,221 |
Minimum future payments under operating leases | ' | ' | ' |
2014 | 5,518 | ' | ' |
2015 | 4,682 | ' | ' |
2016 | 4,220 | ' | ' |
2017 | 2,684 | ' | ' |
2018 | 1,992 | ' | ' |
After 2018 | 1,301 | ' | ' |
Contractual obligations under suplly, storage and service agreements | ' | ' | ' |
2014 | 190,606 | ' | ' |
2015 | 105,317 | ' | ' |
2016 | 75,903 | ' | ' |
2017 | 56,152 | ' | ' |
2018 | 44,409 | ' | ' |
After 2018 | $114,263 | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Contingencies) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Environmental Issue [Member] | CPG Manufactured Gas Plant Properties and PNG Manufactured Gas Plant Properties [Member] | CPG Manufactured Gas Plant Properties and PNG Manufactured Gas Plant Properties [Member] | CPG MGP [Member] | PNG MGP [Member] | PNG MGP [Member] | |
Environmental Remediation Expense [Member] | Environmental Remediation Expense [Member] | Environmental Remediation Expense [Member] | Environmental Remediation Expense [Member] | Environmental Issue [Member] | ||
Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Environmental expenditures | ' | ' | ' | $1,800 | $1,100 | ' |
Option to termination agreement by either party effective at end of any period | ' | ' | ' | ' | ' | '2 years |
Accrued liabilities for environmental investigation and remediation costs related to CPG-COA and PNG-COA | ' | $14,019 | $14,979 | ' | ' | ' |
Base Year for Determination of Investigation and Remediation Cost | '5 years | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Commodity contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | $43 | $5,468 |
Derivative financial instruments, liabilities | -6,677 | -9,437 |
Commodity contracts [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 43 | 5,468 |
Derivative financial instruments, liabilities | -2,162 | -671 |
Commodity contracts [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Derivative financial instruments, liabilities | -4,515 | -8,766 |
Commodity contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Derivative financial instruments, liabilities | 0 | 0 |
Interest rate contracts [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | ' | -30,522 |
Interest rate contracts [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | ' | 0 |
Interest rate contracts [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | ' | -30,522 |
Interest rate contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | ' | $0 |
Fair_Value_Measurements_Textua
Fair Value Measurements Textual (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt | $642,000 | $600,000 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt | $699,929 | $700,708 |
Disclosures_About_Derivative_I2
Disclosures About Derivative Instruments and Hedging Activities (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Assets | $43 | $5,468 |
Total Derivatives Liability | -6,677 | -39,959 |
Interest rate contracts [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Assets | 0 | 0 |
Interest rate contracts [Member] | Designated as Hedging Instrument [Member] | Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Liability | 0 | -30,522 |
Commodity contracts [Member] | Accounted for Under ASC 980 [Member] | Derivative Financial Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Assets | 31 | 5,303 |
Commodity contracts [Member] | Accounted for Under ASC 980 [Member] | Derivative Financial Instruments and Other Noncurrent Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Liability | -6,677 | -9,437 |
Commodity contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Liability | 0 | 0 |
Commodity contracts [Member] | Derivatives Not Designated as Hedging Instruments [Member] | Derivative Financial Instruments [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Total Derivatives Assets | $12 | $165 |
Disclosures_About_Derivative_I3
Disclosures About Derivative Instruments and Hedging Activities (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flow Hedging [Member] | Interest expense | Cash Flow Hedging [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain (Loss) Recognized in AOCI | $25,898 | ($11,528) |
Gain (Loss) Reclassified from AOCI into Income | -805 | -1,847 |
Derivatives Not Designated as Hedging Instruments [Member] | Operating expenses/other income, net | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain (Loss) Recognized in Income | $45 | $223 |
Disclosures_About_Derivative_I4
Disclosures About Derivative Instruments and Hedging Activities Textual (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative [Line Items] | ' | ' |
Fair values of electric utility's forward purchase power agreements | $6,677 | $39,959 |
Interest rate cash flow hedge loss to be reclassified during next 12 months, net | -2,680 | ' |
Restricted Cash in brokerage accounts | 3,181 | 0 |
Electric Utility electric transmission congestion [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount (in units) | 189,300,000 | 189,700,000 |
Gas Utility [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount (in units) | 15,000,000 | 19,200,000 |
Maximum Length of Time Hedged in Price Risk Cash Flow Hedges | '12 months | ' |
Electric Utility - Forward Contract [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional amount (in units) | 245,800,000 | 570,400,000 |
Maximum Length of Time Hedged in Price Risk Cash Flow Hedges | '8 months | ' |
Fair values of electric utility's forward purchase power agreements | 4,759 | 9,207 |
Interest Rate Swap [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Underlying variable rate debt | 0 | 173,000 |
Recorded loss amount included in Other Income, Net | ($682) | ' |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment | |||||||||||
Segment Reporting [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments (in segments) | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $122,216 | $148,798 | $395,901 | $273,797 | $114,246 | $143,644 | $345,802 | $280,641 | $940,712 | $884,333 | $1,137,366 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 465,996 | 459,079 | 678,500 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 55,716 | 52,792 | 52,546 |
Operating income | 9,647 | 18,878 | 109,230 | 72,564 | 7,031 | 25,300 | 88,447 | 64,605 | 210,319 | 185,383 | 211,421 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 39,309 | 42,412 | 42,728 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 171,010 | 142,971 | 168,693 |
Total assets | 2,210,322 | ' | ' | ' | 2,196,173 | ' | ' | ' | 2,210,322 | 2,196,173 | 2,169,348 |
Goodwill | 182,145 | ' | ' | ' | 182,145 | ' | ' | ' | 182,145 | 182,145 | 182,145 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 151,090 | 114,090 | 98,856 |
Gas Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 839,050 | 785,375 | 1,026,397 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 407,222 | 402,534 | 610,635 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 51,698 | 48,992 | 48,350 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 198,352 | 172,164 | 199,643 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 37,280 | 40,139 | 40,374 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 161,072 | 132,025 | 159,269 |
Total assets | 2,068,955 | ' | ' | ' | 2,045,480 | ' | ' | ' | 2,068,955 | 2,045,480 | 2,028,705 |
Goodwill | 182,145 | ' | ' | ' | 182,145 | ' | ' | ' | 182,145 | 182,145 | 182,145 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 144,399 | 109,020 | 91,328 |
Electric Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 99,986 | 97,130 | 109,145 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 58,774 | 56,545 | 67,865 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4,018 | 3,800 | 4,196 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 11,385 | 12,610 | 11,384 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,029 | 2,273 | 2,354 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 9,356 | 10,337 | 9,030 |
Total assets | 141,367 | ' | ' | ' | 150,693 | ' | ' | ' | 141,367 | 150,693 | 140,643 |
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 6,691 | 5,070 | 7,528 |
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,676 | 1,828 | 1,824 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 582 | 609 | 394 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 582 | 609 | 394 |
Total assets | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 |
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 |
Other_Income_Net_Details
Other Income, Net (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Component of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Other Operating Income | $4,828 | $4,989 | $10,764 |
Non-tariff service income [Member] | ' | ' | ' |
Component of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Total other income, net | 2,706 | 2,653 | 6,422 |
Interest income [Member] | ' | ' | ' |
Component of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Total other income, net | 500 | 572 | 467 |
Postretirement benefit plan curtailment gain [Member] | ' | ' | ' |
Component of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Total other income, net | 0 | 0 | 3,245 |
Other [Member] | ' | ' | ' |
Component of Other Income, Nonoperating [Line Items] | ' | ' | ' |
Total other income, net | $1,622 | $1,764 | $630 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Nov. 01, 2013 | Nov. 01, 2013 |
UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | SCAAs [Member] | SCAAs [Member] | SCAAs [Member] | Exclusive of transactions pursuant SCAAs [Member] | Exclusive of transactions pursuant SCAAs [Member] | Exclusive of transactions pursuant SCAAs [Member] | Other current liabilities [Member] | Other current liabilities [Member] | Inventories [Member] | Inventories [Member] | SCAAs [Member] | SCAAs [Member] | UGI Energy Services, Inc. [Member] | ||||
UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | SCAAs [Member] | SCAAs [Member] | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | Storage_Agreement | New Storage Agreement [Member] | SCAAs [Member] | |||||||
Storage_Agreement | UGI Energy Services, Inc. [Member] | UGI Energy Services, Inc. [Member] | ft3 | ft3 | New Storage Agreement [Member] | ||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of storage agreements | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Storage agreement, term (in years) | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '1 year |
Related party costs incurred | $8,366 | $9,326 | $12,125 | ' | ' | ' | $45,843 | $24,344 | $35,231 | $32,526 | $30,752 | $30,093 | ' | ' | ' | ' | ' | ' | ' |
Related party security deposits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,500 | 15,000 | ' | ' | ' | ' | ' |
Volume of gas storage inventory (in bcf of natural gas) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,400,000,000 | 7,600,000,000 | ' | ' | ' |
Natural gas storage inventory, related parties, current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,988 | 21,217 | ' | ' | ' |
Revenue from related parties | ' | ' | ' | 69,087 | 65,705 | 85,655 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases from related party | ' | ' | ' | $77,017 | $53,435 | $53,617 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly_Data_unaudited_Detai
Quarterly Data (unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $122,216 | $148,798 | $395,901 | $273,797 | $114,246 | $143,644 | $345,802 | $280,641 | $940,712 | $884,333 | $1,137,366 |
Operating income | 9,647 | 18,878 | 109,230 | 72,564 | 7,031 | 25,300 | 88,447 | 64,605 | 210,319 | 185,383 | 211,421 |
Net income (loss) | $1,654 | $5,373 | $58,259 | $36,812 | ($1,101) | $8,460 | $47,871 | $32,668 | $102,098 | $87,898 | $105,196 |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |||
Valuation and Qualifying Accounts [Abstract] | ' | ' | ' | |||
Insurance Indemnification Receivables | $735 | $6,291 | $8,163 | |||
Allowance for Doubtful Accounts [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Beginning Balance | 3,588 | 6,368 | 7,072 | |||
Charged to costs and expenses | 9,584 | 6,286 | 9,137 | |||
Other | -7,653 | [1] | -9,066 | [1] | -9,841 | [1] |
Ending Balance | 5,519 | 3,588 | 6,368 | |||
Property and Casualty Liability [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Beginning Balance | 26,951 | [2] | 34,080 | [2] | 33,465 | |
Charged to costs and expenses | -1,338 | 1,614 | 10,173 | |||
Valuation allowances and reserves, deductions on other adjustment | -7,220 | [2] | -8,359 | [2] | -9,558 | [2] |
Other Adjustments | 1,402 | [2] | ' | ' | ||
Ending Balance | $19,795 | [2] | $26,951 | [2] | $34,080 | [2] |
[1] | Uncollectible accounts written off, net of recoveries | |||||
[2] | s |