v3.25.2
Revenue from Contracts with Customers
 9 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
Note 4 — Revenue from Contracts with Customers

The Company recognizes revenue when control of promised goods or services is transferred to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. See Note 4 in the Company’s 2024 Annual Report for additional information on our revenues from contracts with customers.
Revenue Disaggregation

The following tables present our disaggregated revenues by reportable segment:
Three Months Ended June 30, 2025 Total  Eliminations
(a) 		 Utilities Midstream & Marketing UGI International  AmeriGas Propane  Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential$151 $— $151 $— $— $— $— 
Commercial & Industrial61 — 61 — — — — 
Large delivery service40 — 40 — — — — 
Off-system sales and capacity releases13 (11)24 — — — — 
Other7 (1)8 — — — — 
Total Utility272 (12)284 — — — — 
Non-Utility:
LPG:
Retail724 — — — 360 364 — 
Wholesale44 — — — 34 10 — 
Energy Marketing198 (27)— 213 12 — — 
Midstream:
Pipeline53 — — 53 — — — 
Peaking1 (5)— 6 — — — 
Other6 — — 6 — — — 
Other62 — — — 21 41 — 
Total Non-Utility1,088 (32)— 278 427 415 — 
Total revenues from contracts with customers1,360 (44)284 278 427 415 — 
Other revenues (c)34 — 3 — 10 19 2 
Total revenues $1,394 $(44)$287 $278 $437 $434 $2 
Three Months Ended June 30, 2024 Total Eliminations
(a) 		 Utilities Midstream & Marketing UGI International  AmeriGas Propane  Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential$136 $— $136 $— $— $— $— 
Commercial & Industrial53 — 53 — — — — 
Large delivery service41 — 41 — — — — 
Off-system sales and capacity releases7 (6)13 — — — — 
Other 9 (1)10 — — — — 
Total Utility246 (7)253 — — — — 
Non-Utility:
LPG:
Retail742 — — — 378 364 — 
Wholesale54 — — — 36 18 — 
Energy Marketing172 (16)— 176 12 — — 
Midstream:
Pipeline61 — — 61 — — — 
Peaking— (5)— 5 — — — 
Other5 — — 5 — — — 
Electricity Generation6 — — 6 — — — 
Other66 — — — 21 45 — 
Total Non-Utility1,106 (21)— 253 447 427 — 
Total revenues from contracts with customers1,352 (28)253 253 447 427 — 
Other revenues (c)28 — 4 — 8 18 (2)
Total revenues$1,380 $(28)$257 $253 $455 $445 $(2)
Nine Months Ended June 30, 2025 Total Eliminations
(a) 		 Utilities Midstream & Marketing UGI International  AmeriGas Propane  Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential$861 $— $861 $— $— $— $— 
Commercial & Industrial342 — 342 — — — — 
Large delivery service156 — 156 — — — — 
Off-system sales and capacity releases66 (72)138 — — — — 
Other23 (1)24 — — — — 
Total Utility1,448 (73)1,521 — — — — 
Non-Utility:
LPG:
Retail3,108 — — — 1,462 1,646 — 
Wholesale194 — — — 127 67 — 
Energy Marketing820 (140)— 914 46 — — 
Midstream:
Pipeline170 — — 170 — — — 
Peaking25 (107)— 132 — — — 
Other16 — — 16 — — — 
Other200 — — — 60 140 — 
Total Non-Utility4,533 (247)— 1,232 1,695 1,853 — 
Total revenues from contracts with customers5,981 (320)1,521 1,232 1,695 1,853 — 
Other revenues (c)
109 — 24 — 30 56 (1)
Total revenues$6,090 $(320)$1,545 $1,232 $1,725 $1,909 $(1)
Nine Months Ended June 30, 2024 Total Eliminations
(a) 		 Utilities Midstream & Marketing UGI International  AmeriGas Propane  Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential$771 $— $771 $— $— $— $— 
Commercial & Industrial305 — 305 — — — — 
Large delivery service144 — 144 — — — — 
Off-system sales and capacity releases60 (42)102 — — — — 
Other29 (1)30 — — — — 
Total Utility1,309 (43)1,352 — — — — 
Non-Utility:
LPG:
Retail3,066 — — — 1,472 1,594 — 
Wholesale214 — — — 145 69 — 
Energy Marketing (b)810 (80)— 780 152 — (42)
Midstream:
Pipeline191 — — 191 — — — 
Peaking11 (116)— 127 — — — 
Other12 — — 12 — — — 
Electricity Generation20 — — 20 — — — 
Other204 — — — 56 148 — 
Total Non-Utility4,528 (196)— 1,130 1,825 1,811 (42)
Total revenues from contracts with customers5,837 (239)1,352 1,130 1,825 1,811 (42)
Other revenues (c)
131 — 44 — 28 58 1 
Total revenues$5,968 $(239)$1,396 $1,130 $1,853 $1,869 $(41)

(a)Includes intersegment revenues principally among Midstream & Marketing, and Utilities.
(b)Corporate & Other includes reduction of revenues of $42 associated with the early termination of certain DVEP customer contracts. See Note 5 for additional information.
(c)Primarily represents (1) revenues from tank rentals at UGI International and AmeriGas Propane; (2) revenues from alternative revenue programs at Utilities, including the weather normalization adjustment rider for PA Gas Utility beginning November 1, 2022 and for WV Gas Utility beginning October 1, 2024; and (3) gains and losses on commodity derivative instruments not associated with current-period transactions reflected in Corporate & Other, none of which are within the scope of ASC 606 and are accounted for in accordance with other GAAP.

Contract Balances
The timing of revenue recognition may differ from the timing of invoicing to customers or cash receipts. Contract assets represent our right to consideration after the performance obligations have been satisfied when such right is conditioned on something other than the passage of time. Contract assets were not material for all periods presented. Substantially all of our receivables are unconditional rights to consideration and are included in “Accounts receivable” and, in the case of Utilities, “Accrued utility revenues” on the Condensed Consolidated Balance Sheets. Amounts billed are generally due within the following month.
Contract liabilities arise when payment from a customer is received before the performance obligations have been satisfied and represent the Company’s obligations to transfer goods or services to a customer for which we have received consideration. The balances of contract liabilities were $110, $140 and $116 at June 30, 2025, September 30, 2024 and June 30, 2024, respectively, and are included in “Other current liabilities” and “Other noncurrent liabilities” on the Condensed Consolidated Balance Sheets. Revenues recognized for the nine months ended June 30, 2025 and 2024, from the amounts included in contract liabilities at September 30, 2024 and 2023, were $99 and $118, respectively.

Remaining Performance Obligations
The Company excludes disclosures related to the aggregate amount of the transaction price allocated to certain performance obligations that are unsatisfied as of the end of the reporting period because these contracts have an initial expected term of one year or less, or we have a right to bill the customer in an amount that corresponds directly with the value of services provided to the customer to date. Certain contracts with customers at Midstream & Marketing and Utilities contain minimum future performance obligations through 2047 and 2053, respectively. At June 30, 2025, Midstream & Marketing and Utilities expect to record approximately $2.2 billion and $0.2 billion of revenues, respectively, related to the minimum future performance obligations over the remaining terms of the related contracts.