| Schedule of Segment Reporting Information |
The following tables provide information about the Company’s reportable segments and the reconciliation to corresponding consolidated amounts:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | Total | | Eliminations (a) | | Utilities | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | Corporate & Other (d) | | Revenues from external customers | | $ | 1,331 | | | $ | — | | | $ | 299 | | | $ | 224 | | | $ | 436 | | | $ | 372 | | | $ | — | | | Intersegment revenues | | — | | | (28) | | | 3 | | | 25 | | | — | | | — | | | — | | | Cost of sales | | 758 | | | (28) | | | 117 | | | 159 | | | 250 | | | 171 | | | 89 | | | Operating and administrative expenses (b) | | 491 | | | (25) | | | 100 | | | 40 | | | 126 | | | 220 | | | 30 | | | Depreciation and amortization | | 138 | | | — | | | 47 | | | 22 | | | 27 | | | 42 | | | — | | | Income (loss) from equity investees | | (1) | | | — | | | — | | | (1) | | | — | | | — | | | — | | | Other segment income (loss) (c) | | 5 | | | (28) | | | 2 | | | 3 | | | 8 | | | 8 | | | 12 | | | Earnings (loss) before interest expense and income taxes | | (52) | | | (3) | | | 40 | | | 30 | | | 41 | | | (53) | | | (107) | | | Interest expense | | (109) | | | 3 | | | (29) | | | (15) | | | (11) | | | (35) | | | (22) | | | Income tax benefit (expense) | | 28 | | | — | | | (2) | | | (3) | | | (12) | | | 26 | | | 19 | | | Net income (loss) attributable to UGI | | $ | (133) | | | $ | — | | | $ | 9 | | | $ | 12 | | | $ | 18 | | | $ | (62) | | | $ | (110) | | | Capital expenditures (including the effects of accruals) | | $ | 219 | | | $ | — | | | $ | 150 | | | $ | 16 | | | $ | 26 | | | $ | 27 | | | $ | — | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Total | | Eliminations (a) | | Utilities | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | Corporate & Other (d) | | Revenues from external customers | | $ | 1,394 | | | $ | — | | | $ | 275 | | | $ | 246 | | | $ | 437 | | | $ | 434 | | | $ | 2 | | | Intersegment revenues | | — | | | (44) | | | 12 | | | 32 | | | — | | | — | | | — | | | Cost of sales | | 837 | | | (44) | | | 115 | | | 201 | | | 245 | | | 207 | | | 113 | | | Operating and administrative expenses (b) | | 481 | | | (24) | | | 100 | | | 32 | | | 129 | | | 220 | | | 24 | | | Depreciation and amortization | | 140 | | | — | | | 44 | | | 20 | | | 31 | | | 45 | | | — | | | | | | | | | | | | | | | | | | Other segment income (loss) (c) | | (63) | | | (28) | | | 2 | | | 2 | | | 11 | | | 10 | | | (60) | | | Earnings (loss) before interest expense and income taxes | | (127) | | | (4) | | | 30 | | | 27 | | | 43 | | | (28) | | | (195) | | | Interest expense | | (101) | | | 5 | | | (24) | | | (11) | | | (13) | | | (36) | | | (22) | | | Income tax benefit (expense) | | 65 | | | — | | | (1) | | | 3 | | | 6 | | | 101 | | | (44) | | | Net income (loss) attributable to UGI | | $ | (163) | | | $ | 1 | | | $ | 5 | | | $ | 19 | | | $ | 36 | | | $ | 37 | | | $ | (261) | | | Capital expenditures (including the effects of accruals) | | $ | 220 | | | $ | — | | | $ | 146 | | | $ | 30 | | | $ | 24 | | | $ | 20 | | | $ | — | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended June 30, 2026 | | Total | | Eliminations (a) | | Utilities | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | Corporate & Other (d) | | Revenues from external customers | | $ | 6,099 | | | $ | — | | | $ | 1,685 | | | $ | 1,051 | | | $ | 1,632 | | | $ | 1,731 | | | $ | — | | | Intersegment revenues | | — | | | (428) | | | 88 | | | 340 | | | — | | | — | | | — | | | Cost of sales | | 2,957 | | | (428) | | | 859 | | | 959 | | | 864 | | | 733 | | | (30) | | | Operating and administrative expenses (b) | | 1,570 | | | (76) | | | 330 | | | 111 | | | 401 | | | 723 | | | 81 | | | Depreciation and amortization | | 416 | | | — | | | 142 | | | 65 | | | 82 | | | 127 | | | — | | | Income (loss) from equity investees | | 8 | | | — | | | — | | | 8 | | | — | | | — | | | — | | | Other segment income (loss) (c) | | 17 | | | (86) | | | 5 | | | 4 | | | 12 | | | 27 | | | 55 | | | Earnings before interest expense and income taxes | | 1,181 | | | (10) | | | 447 | | | 268 | | | 297 | | | 175 | | | 4 | | | Interest expense | | (331) | | | 10 | | | (88) | | | (44) | | | (33) | | | (110) | | | (66) | | | Income tax benefit (expense) | | (166) | | | — | | | (81) | | | (42) | | | (40) | | | (18) | | | 15 | | | Net income (loss) attributable to UGI | | $ | 684 | | | $ | — | | | $ | 278 | | | $ | 182 | | | $ | 224 | | | $ | 47 | | | $ | (47) | | | Capital expenditures (including the effects of accruals) | | $ | 590 | | | $ | — | | | $ | 410 | | | $ | 38 | | | $ | 56 | | | $ | 86 | | | $ | — | | | As of June 30, 2026 | | | | | | | | | | | | | | | | Total assets | | $ | 15,631 | | | $ | (169) | | | $ | 6,742 | | | $ | 3,222 | | | $ | 2,833 | | | $ | 2,821 | | | $ | 182 | | | | | | | | | | | | | | | | | | Nine Months Ended June 30, 2025 | | Total | | Eliminations (a) | | Utilities | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | Corporate & Other (d) | | Revenues from external customers | | $ | 6,090 | | | $ | — | | | $ | 1,472 | | | $ | 985 | | | $ | 1,725 | | | $ | 1,909 | | | $ | (1) | | | Intersegment revenues | | — | | | (320) | | | 73 | | | 247 | | | — | | | — | | | — | | | Cost of sales | | 3,061 | | | (320) | | | 697 | | | 815 | | | 967 | | | 889 | | | 13 | | | Operating and administrative expenses (b) | | 1,524 | | | (75) | | | 311 | | | 92 | | | 405 | | | 713 | | | 78 | | | Depreciation and amortization | | 416 | | | — | | | 132 | | | 60 | | | 89 | | | 135 | | | — | | | Income (loss) from equity investees | | 6 | | | — | | | — | | | 7 | | | (1) | | | — | | | — | | | Other segment income (loss) (c) | | (7) | | | (82) | | | 7 | | | 4 | | | 33 | | | 28 | | | 3 | | | Earnings (loss) before interest expense and income taxes | | 1,088 | | | (7) | | | 412 | | | 276 | | | 296 | | | 200 | | | (89) | | | Interest expense | | (305) | | | 8 | | | (75) | | | (35) | | | (34) | | | (106) | | | (63) | | | Income tax benefit (expense) | | (92) | | | — | | | (77) | | | 17 | | | (33) | | | (78) | | | 79 | | | Net income (loss) attributable to UGI | | $ | 691 | | | $ | 1 | | | $ | 260 | | | $ | 258 | | | $ | 229 | | | $ | 16 | | | $ | (73) | | | Capital expenditures (including the effects of accruals) | | $ | 555 | | | $ | — | | | $ | 352 | | | $ | 89 | | | $ | 55 | | | $ | 59 | | | $ | — | | | As of June 30, 2025 | | | | | | | | | | | | | | | | Total assets | | $ | 15,362 | | | $ | (381) | | | $ | 6,228 | | | $ | 3,188 | | | $ | 3,191 | | | $ | 2,964 | | | $ | 172 | | (a)Represents the elimination of intersegment transactions principally among Midstream & Marketing, Utilities and AmeriGas Propane. (b)For the Utilities reportable segment, operating and administrative expenses less revenue-related taxes (i.e., gross receipts and business occupation taxes) is considered a significant segment expense and was $96 and $96 for the three months ended June 30, 2026 and 2025, respectively, and $307 and $290 for the nine months ended June 30, 2026 and 2025, respectively. (c)Excluding Corporate & Other, other segment items principally represent other operating and non-operating income and expenses. (d)Corporate & Other includes specific items attributable to our reportable segments that are not included in the segment profit measures used by our CODM. The following table presents such pre-tax gains (losses) which have been included in Corporate & Other, and the reportable segments to which they relate, for the three and nine months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | Location on Income Statement | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | | | | | | | | | | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Cost of sales | | $ | — | | | $ | (76) | | | $ | (13) | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Other operating expense (income), net | | $ | — | | | $ | (2) | | | $ | — | | | | | Unrealized gains (losses) on foreign currency derivative instruments | | Other non-operating income (expense), net | | $ | — | | | $ | 7 | | | $ | — | | | | | Loss on extinguishments of debt | | Loss on extinguishments of debt | | $ | (2) | | | $ | — | | | $ | (13) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net gain (loss) on disposals of businesses | | Net loss (gain) on disposals of businesses | | $ | — | | | $ | (7) | | | $ | — | | | | | | | | | | | | | | | | Restructuring costs | | Operating and administrative expenses | | $ | — | | | $ | — | | | $ | (2) | | | | | Interest income from intersegment loan | | Other operating expense (income), net | | $ | — | | | $ | 2 | | | $ | — | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Location on Income Statement | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Revenues | | $ | 1 | | | $ | — | | | $ | — | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Cost of sales | | $ | (59) | | | $ | (50) | | | $ | (3) | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Other operating expense (income), net | | $ | — | | | $ | (1) | | | $ | — | | | | | Unrealized gains (losses) on foreign currency derivative instruments | | Other non-operating income (expense), net | | $ | — | | | $ | (25) | | | $ | — | | | | | Loss on extinguishments of debt | | Loss on extinguishments of debt | | $ | — | | | $ | — | | | $ | (9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net gain (loss) on disposals of businesses | | Net loss (gain) on disposals of businesses | | $ | — | | | $ | (54) | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest income from intersegment loan | | Other operating expense (income), net | | $ | — | | | $ | 5 | | | $ | — | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended June 30, 2026 | | Location on Income Statement | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | | | | | | | | | | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Cost of sales | | $ | (28) | | | $ | 54 | | | $ | 4 | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Other operating expense (income), net | | $ | — | | | $ | 2 | | | $ | — | | | | | Unrealized gains (losses) on foreign currency derivative instruments | | Other non-operating income (expense), net | | $ | — | | | $ | 23 | | | $ | — | | | | | Loss on extinguishments of debt | | Loss on extinguishments of debt | | $ | (2) | | | $ | — | | | $ | (13) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net gain (loss) on disposals of businesses | | Net loss (gain) on disposals of businesses | | $ | — | | | $ | (42) | | | $ | — | | | | | | | | | | | | | | | | Restructuring costs | | Operating and administrative expenses | | $ | — | | | $ | — | | | $ | (2) | | | | | Interest income from intersegment loan | | Other operating expense (income), net | | $ | — | | | $ | 10 | | | $ | — | | | | | | | | | | | | | | | | Nine Months Ended June 30, 2025 | | Location on Income Statement | | Midstream & Marketing | | UGI International | | AmeriGas Propane | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Revenues | | $ | (1) | | | $ | — | | | $ | — | | | | | Net gains (losses) on commodity derivative instruments not associated with current-period transactions | | Cost of sales | | $ | 26 | | | $ | (46) | | | $ | 7 | | | | | | | | | | | | | | | | Unrealized gains (losses) on foreign currency derivative instruments | | Other non-operating income (expense), net | | $ | — | | | $ | (16) | | | $ | — | | | | | Loss on extinguishments of debt | | Loss on extinguishments of debt | | $ | — | | | $ | — | | | $ | (9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net gain (loss) on disposals of businesses | | Net loss (gain) on disposals of businesses | | $ | — | | | $ | (54) | | | $ | — | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest income from intersegment loan | | Other operating expense (income), net | | $ | — | | | $ | 8 | | | $ | — | | | |
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