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Fair Value Measurements - Schedule of Carrying Amounts and Estimated Fair Values of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Carrying amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 6,768	$ 6,701	$ 6,644
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 6,880	$ 6,777	$ 6,743

- Definition

The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Stockholders' Equity [Abstract]
Cash dividends on common stock (in USD per share)	$ 0.375	$ 0.375	$ 1.13	$ 1.13

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Total UGI stockholders’ equity	Common stock, without par value	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling interests
Balance, beginning of period at Sep. 30, 2024			$ 1,676	$ 2,978	$ (253)	$ (56)	$ 9
Increase (Decrease) in Stockholders' Equity
Common Stock issued in connection with employee and director plans, net of tax withheld			15
Equity-based compensation expense			12
Net income (loss) attributable to UGI Corporation	$ 691			691
Cash dividends on UGI Common Stock ($0.375, $0.375, $1.13 and $1.13, respectively)				(241)
Other comprehensive income (loss)	9				72
Repurchases of Common Stock						(17)
Reacquired Common Stock - employee and director plans						(3)
Other							1
Balance, end of period at Jun. 30, 2025	4,884	$ 4,874	1,703	3,428	(181)	(76)	10
Balance, beginning of period at Mar. 31, 2025			1,684	3,671	(268)	(75)	9
Increase (Decrease) in Stockholders' Equity
Common Stock issued in connection with employee and director plans, net of tax withheld			14
Equity-based compensation expense			5
Net income (loss) attributable to UGI Corporation	(163)			(163)
Cash dividends on UGI Common Stock ($0.375, $0.375, $1.13 and $1.13, respectively)				(80)
Other comprehensive income (loss)	(2)				87
Reacquired Common Stock - employee and director plans						(1)
Other							1
Balance, end of period at Jun. 30, 2025	4,884	4,874	1,703	3,428	(181)	(76)	10
Balance, beginning of period at Sep. 30, 2025	4,786		1,709	3,334	(173)	(93)	9
Increase (Decrease) in Stockholders' Equity
Common Stock issued in connection with employee and director plans, net of tax withheld			15
Equity-based compensation expense			12
Net income (loss) attributable to UGI Corporation	684			684
Cash dividends on UGI Common Stock ($0.375, $0.375, $1.13 and $1.13, respectively)				(241)
Other comprehensive income (loss)	16				(9)
Repurchases of Common Stock						(23)
Reacquired Common Stock - employee and director plans						(2)
Balance, end of period at Jun. 30, 2026	5,222	5,213	1,736	3,777	(182)	(118)	9
Balance, beginning of period at Mar. 31, 2026			1,731	3,990	(185)	(117)	9
Increase (Decrease) in Stockholders' Equity
Common Stock issued in connection with employee and director plans, net of tax withheld			1
Equity-based compensation expense			4
Net income (loss) attributable to UGI Corporation	(133)			(133)
Cash dividends on UGI Common Stock ($0.375, $0.375, $1.13 and $1.13, respectively)				(80)
Other comprehensive income (loss)	7				3
Reacquired Common Stock - employee and director plans						(1)
Balance, end of period at Jun. 30, 2026	$ 5,222	$ 5,213	$ 1,736	$ 3,777	$ (182)	$ (118)	$ 9

Fair Value Measurements - Narrative (Details) $ in Millions	3 Months Ended
Fair Value Measurements - Narrative (Details) $ in Millions	Mar. 31, 2026 USD ($)
Pending sale \| LPG
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Pre-tax impairment charges	$ 64.0

Dispositions

9 Months Ended

Jun. 30, 2026

Discontinued Operations and Disposal Groups [Abstract]

Dispositions

Note 5 — Dispositions

Electric Utility

In April 2026, UGI Utilities entered into a definitive agreement to divest its Electric Utility for a sale price of $470, subject to changes in working capital and other adjustments. The transaction includes the sale of approximately 2,700 miles of transmission and distribution lines and 14 substations in Pennsylvania’s Luzerne and Wyoming counties. At June 30, 2026, the Electric Utility’s assets and liabilities were classified as held for sale and included in “Held for sale assets” and “Held for sale liabilities”, respectively, on the Condensed Consolidated Balance Sheet. The Company expects to recognize a gain upon closing, which is expected in the second quarter of Fiscal 2027, subject to customary closing conditions and applicable regulatory approvals.

The major classes of assets and liabilities of the Electric Utility business which are held for sale at June 30, 2026 are as follows:


Held for sale assets:
Property, plant and equipment, net	$	284
Other current and noncurrent assets	64
Total held for sale assets	$	348

Held for sale liabilities:
Deferred income tax liabilities	$	48
Regulatory liabilities	28
Other current and noncurrent liabilities	28
Total held for sale liabilities	$	104

Global LPG Business Transactions

As part of the Company’s global LPG business portfolio optimization efforts, the Company has strategically divested operations in non-core markets to focus resources where it can achieve superior operational results and deliver enhanced customer value.

UGI International. In January 2026, UGI International, through a wholly-owned subsidiary, entered into a definitive agreement to divest its LPG distribution businesses in Czech Republic, Hungary, Poland, and Slovakia. The sale was completed in May 2026, subject to customary post-closing working capital adjustments. During the second quarter of Fiscal 2026, the Company classified the assets and liabilities associated with these businesses, primarily comprised of long-lived assets and goodwill allocated to the disposal group, as held for sale and recognized a non-cash, pre-tax impairment charge of $64 to record such assets at estimated fair value less costs to sell. During the third quarter of Fiscal 2026, in conjunction with the completion of the sale, the Company recognized an incremental loss on disposal of $7, resulting in a total loss of $71 for the nine months ended June 30, 2026.

In February 2026, UGI International, through a wholly-owned subsidiary, completed the sale of its LPG business in Romania. For the nine months ended June 30, 2026, the Company recognized a pre-tax loss on sale of $2.

In November 2025, UGI International, through a wholly-owned subsidiary, completed the sale of Flaga, its LPG distribution business in Austria. For the nine months ended June 30, 2026, the Company recognized a pre-tax gain on the sale of $29.

In October 2025, UGI International, through a wholly-owned subsidiary, completed the sale of its cylinder business in the United Kingdom. For the nine months ended June 30, 2026, the Company recognized a pre-tax gain on the sale of $2.

In aggregate, the aforementioned divestitures resulted in pre-tax net losses of $7 and $42 for the three and nine months ended June 30, 2026, respectively, which were reflected in “Net loss (gain) on disposals of businesses” on the Condensed Consolidated Statements of Income and included in the UGI International reportable segment. The Company has received or expects to receive total net cash proceeds of approximately $145 from these divestitures.

See Note 5 in the Company’s 2025 Annual Report for additional information on the Company’s global LPG business transactions.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Schedule of Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of the total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Balance Sheets to the corresponding amounts reported on the Condensed Consolidated Statements of Cash Flows.


	June 30, 2026		June 30, 2025
Cash and cash equivalents	$	476	$	350
Restricted cash	47		20
Cash, cash equivalents and restricted cash	$	523	$	370

Schedule of Cash and Cash Equivalents


	June 30, 2026		June 30, 2025
Cash and cash equivalents	$	476	$	350
Restricted cash	47		20
Cash, cash equivalents and restricted cash	$	523	$	370

Schedule of Shares Used in Computing Basic and Diluted Earnings Per Share

Shares used in computing basic and diluted earnings per share are as follows:


	Three Months Ended June 30,		Nine Months Ended June 30,
	2026	2025	2026	2025
Denominator (thousands of shares):
Weighted-average common shares outstanding — basic	214,690	214,813	214,789	214,896
Incremental shares issuable for stock options, and common stock awards(a)	—	—	1,048	746
UGI Corporation Senior Notes (a) (b)	—	—	5,950	2,781
Weighted-average common shares outstanding — diluted	214,690	214,813	221,787	218,423

(a)For the three months ended June 30, 2026 and 2025, 6,546 and 5,853 shares, respectively, have been excluded from the computation of diluted earnings per share as such incremental shares would be antidilutive due to the net losses for the periods. For the nine months ended June 30, 2026 and 2025, there were 5,555 and 5,212 shares, respectively, associated with outstanding stock option awards that were not included in the computation of diluted earnings per share above because their effect was antidilutive.

(b)See Note 8 for additional information on the UGI Corporation Senior Notes.

Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents, on a gross basis, our financial assets and liabilities, including both current and noncurrent portions, that are measured at fair value on a recurring basis within the fair value hierarchy:


	Asset (Liability)
	Level 1		Level 2		Level 3		Total
June 30, 2026:
Derivative instruments:
Assets:
Commodity contracts	$	58	$	35	$	—	$	93
Foreign currency contracts	$	—	$	14	$	—	$	14
Interest rate contracts	$	—	$	5	$	—	$	5

Liabilities:
Commodity contracts	$	(83)	$	(22)	$	—	$	(105)
Foreign currency contracts	$	—	$	(4)	$	—	$	(4)
Interest rate contracts	$	—	$	(2)	$	—	$	(2)

Non-qualified supplemental postretirement grantor trust investments (a)	$	37	$	—	$	—	$	37
September 30, 2025:
Derivative instruments:
Assets:
Commodity contracts	$	85	$	11	$	—	$	96
Foreign currency contracts	$	—	$	1	$	—	$	1


Liabilities:
Commodity contracts	$	(72)	$	(61)	$	—	$	(133)
Foreign currency contracts	$	—	$	(19)	$	—	$	(19)
Interest rate contracts	$	—	$	(12)	$	—	$	(12)

Non-qualified supplemental postretirement grantor trust investments (a)	$	35	$	—	$	—	$	35
June 30, 2025:
Derivative instruments:
Assets:
Commodity contracts	$	100	$	13	$	—	$	113

Interest rate contracts	$	—	$	1	$	—	$	1

Liabilities:
Commodity contracts	$	(103)	$	(55)	$	—	$	(158)
Foreign currency contracts	$	—	$	(25)	$	—	$	(25)
Interest rate contracts	$	—	$	(14)	$	—	$	(14)

Non-qualified supplemental postretirement grantor trust investments (a)	$	34	$	—	$	—	$	34

(a)Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans.

Schedule of Carrying Amount and Estimated Fair Value of Long-term Debt

The carrying amounts and estimated fair values of our long-term debt (including current maturities but excluding unamortized debt issuance costs) were as follows:


	June 30, 2026		September 30, 2025		June 30, 2025
Carrying amount	$	6,768	$	6,701	$	6,644
Estimated fair value	$	6,880	$	6,777	$	6,743

Utility Regulatory Assets and Liabilities and Regulatory Matters - Narrative (Details) - USD ($) $ in Millions										9 Months Ended		12 Months Ended
	Jul. 31, 2026	Jul. 06, 2026	Mar. 27, 2026	Feb. 03, 2026	Jan. 28, 2026	Oct. 28, 2025	Jul. 31, 2025	Jan. 27, 2025	Jul. 31, 2024	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025
Inventory
Net gains (losses) on commodity derivative instruments										$ 55	$ (30)
2026 Pennsylvania Public Utility Commission For Base Operating Revenues \| PAPUC \| PA Gas Utility
Inventory
Net gains (losses) on commodity derivative instruments										$ (5)	$ 1	$ (5)
Pennsylvania Public Utility Commission For Annual Base Distribution Revenues \| PAPUC \| Electric Utility
Inventory
Requested rate increase (decrease)			$ 17
Pennsylvania Public Utility Commission For Base Operating Revenues \| PAPUC \| PA Gas Utility
Inventory
Requested rate increase (decrease)					$ 99			$ 110
Annual Base Distribution Rate Increase \| PAPUC \| PA Gas Utility
Inventory
Approved rate increase (decrease)						$ 70
Annual Base Distribution Rate Increase \| PAPUC \| PA Gas Utility \| Subsequent event
Inventory
Requested rate increase (decrease)		$ 65
Annual Base Distribution Rate Increase, Effective October 1, 2026 \| PAPUC \| PA Gas Utility \| Subsequent event
Inventory
Requested rate increase (decrease)		40
Annual Base Distribution Rate Increase, Effective October 1, 2027 \| PAPUC \| PA Gas Utility \| Subsequent event
Inventory
Requested rate increase (decrease)		$ 25
Net Revenue Increase \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)				$ 27
Base Rates \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)				44
IREP rate \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)				$ (17)
2026 IREP Expected \| WVPSC \| Mountaineer \| Subsequent event
Inventory
Requested rate increase (decrease)	$ 14
Total capital investments	180
2026 IREP Expected, Prior Year Under-recovery \| WVPSC \| Mountaineer \| Subsequent event
Inventory
Requested rate increase (decrease)	9
2026 IREP For 2027 \| WVPSC \| Mountaineer \| Subsequent event
Inventory
Total capital investments	83
2026 IREP Recovery \| WVPSC \| Mountaineer \| Subsequent event
Inventory
Total capital investments	$ 475
2025 IREP Expected \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)							$ 24
Total capital investments							274
2025 IREP Expected, Prior Year Under-recovery \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)							5
2025 IREP For 2026 \| WVPSC \| Mountaineer
Inventory
Total capital investments							77
2025 IREP Recovery \| WVPSC \| Mountaineer
Inventory
Total capital investments							$ 445
2024 IREP Expected \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)									$ 19
Total capital investments									197
2024 IREP Expected, Prior Year Under-recovery \| WVPSC \| Mountaineer
Inventory
Requested rate increase (decrease)									3
2024 IREP For 2025 \| WVPSC \| Mountaineer
Inventory
Total capital investments									74
2024 IREP Recovery \| WVPSC \| Mountaineer
Inventory
Total capital investments									$ 418

Summary of Significant Accounting Policies - Schedule of Shares used in Computing Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Denominator (thousands of shares):
Weighted-average common shares outstanding - basic (in shares)	214,690	214,813	214,789	214,896
Incremental shares issuable for stock options, and common stock awards (in shares)	0	0	1,048	746
UGI Corporation Senior Notes	0	0	5,950	2,781
Weighted-average common shares outstanding - diluted (in shares)	214,690	214,813	221,787	218,423
Antidilutive securities excluded from computation of earnings per share (in shares)	6,546	5,853	5,555	5,212

Dispositions - Schedule of Dispositions (Details) - Pending sale - Electric Utility $ in Millions	Jun. 30, 2026 USD ($)
Held for sale assets:
Property, plant and equipment, net	$ 284
Other current and noncurrent assets	64
Total held for sale assets	348
Held for sale liabilities:
Deferred income tax liabilities	48
Regulatory liabilities	28
Other current and noncurrent liabilities	28
Total held for sale liabilities	$ 104

Revenue from Contracts with Customers - Schedule of Disaggregated Revenues by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 1,299	$ 1,360	$ 6,030	$ 5,981
Other revenues	32	34	69	109
Total revenues	1,331	1,394	6,099	6,090
Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	294	272	1,702	1,448
Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	169	151	1,029	861
Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	65	61	410	342
Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	39	40	151	156
Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	10	13	93	66
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	11	7	19	23
Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,005	1,088	4,328	4,533
Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	679	724	2,926	3,108
Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	41	44	149	194
Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	171	198	863	820
Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	52	53	159	170
Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2	1	37	25
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	6	6	20	16
Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	54	62	174	200
Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(28)	(44)	(428)	(320)
Other revenues	0	0	0	0
Total revenues	(28)	(44)	(428)	(320)
Eliminations \| Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(3)	(12)	(88)	(73)
Eliminations \| Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(2)	(11)	(86)	(72)
Eliminations \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(1)	(1)	(2)	(1)
Eliminations \| Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(25)	(32)	(340)	(247)
Eliminations \| Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(19)	(27)	(227)	(140)
Eliminations \| Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(6)	(5)	(113)	(107)
Eliminations \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Utilities
Disaggregation of Revenue [Line Items]
Total revenues	3	12	88	73
Eliminations \| Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues	25	32	340	247
Eliminations \| UGI International
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Eliminations \| AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Operating Segments \| Utilities
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	297	284	1,790	1,521
Other revenues	5	3	(17)	24
Total revenues	302	287	1,773	1,545
Operating Segments \| Utilities \| Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	297	284	1,790	1,521
Operating Segments \| Utilities \| Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	169	151	1,029	861
Operating Segments \| Utilities \| Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	65	61	410	342
Operating Segments \| Utilities \| Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	39	40	151	156
Operating Segments \| Utilities \| Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	12	24	179	138
Operating Segments \| Utilities \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	12	8	21	24
Operating Segments \| Utilities \| Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Utilities \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	248	278	1,390	1,232
Other revenues	1	0	1	0
Total revenues	249	278	1,391	1,232
Operating Segments \| Midstream & Marketing \| Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	248	278	1,390	1,232
Operating Segments \| Midstream & Marketing \| Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Midstream & Marketing \| Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	182	213	1,061	914
Operating Segments \| Midstream & Marketing \| Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	52	53	159	170
Operating Segments \| Midstream & Marketing \| Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	8	6	150	132
Operating Segments \| Midstream & Marketing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	6	6	20	16
Operating Segments \| Midstream & Marketing \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	426	427	1,600	1,695
Other revenues	10	10	32	30
Total revenues	436	437	1,632	1,725
Operating Segments \| UGI International \| Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	426	427	1,600	1,695
Operating Segments \| UGI International \| Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	362	360	1,398	1,462
Operating Segments \| UGI International \| Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	40	34	124	127
Operating Segments \| UGI International \| Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	8	12	29	46
Operating Segments \| UGI International \| Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| UGI International \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16	21	49	60
Operating Segments \| AmeriGas Propane
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	356	415	1,678	1,853
Other revenues	16	19	53	56
Total revenues	372	434	1,731	1,909
Operating Segments \| AmeriGas Propane \| Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	356	415	1,678	1,853
Operating Segments \| AmeriGas Propane \| Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	317	364	1,528	1,646
Operating Segments \| AmeriGas Propane \| Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1	10	25	67
Operating Segments \| AmeriGas Propane \| Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| AmeriGas Propane \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	38	41	125	140
Corporate & Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Other revenues	0	2	0	(1)
Total revenues	0	2	0	(1)
Corporate & Other \| Total Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Residential
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Commercial & Industrial
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Large delivery service
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Off-system sales and capacity releases
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Total Non-Utility
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Retail
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Wholesale
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Energy Marketing
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Pipeline
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Peaking
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Corporate & Other \| Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 0	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Segment Reporting [Line Items]
Goodwill	$ 2,780	$ 2,852	$ 2,888
AmeriGas Propane
Segment Reporting [Line Items]
Percentage of fair value exceeding carrying value	25.00%
Goodwill	$ 1,100

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Nature of Operations	9 Months Ended
Nature of Operations	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Note 1 — Nature of Operations UGI is a holding company that, through subsidiaries and affiliates, distributes, stores, transports and markets energy products and related services in the U.S. and Europe. We own and operate (1) natural gas and electric distribution utilities; (2) energy marketing, midstream infrastructure, storage, natural gas gathering and processing, natural gas production, and energy services businesses; and (3) retail propane and other LPG marketing and distribution businesses. Our Utilities segment includes UGI Utilities and Mountaineer. PA Gas Utility serves customers in eastern and central Pennsylvania and in portions of one Maryland county, and WV Gas Utility serves customers in West Virginia. Electric Utility serves customers in portions of Luzerne and Wyoming counties in northeastern Pennsylvania. PA Gas Utility is subject to regulation by the PAPUC and FERC and, with respect to its customers in Maryland, the MDPSC. WV Gas Utility is subject to regulation by the WVPSC and FERC. Electric Utility is subject to regulation by the PAPUC and FERC (see Note 5 for pending disposition of Electric Utility). Energy Services conducts, directly and through subsidiaries and affiliates, energy marketing, including RNG, midstream transmission, LNG storage, natural gas gathering and processing, natural gas and RNG production, and energy services businesses primarily in the eastern region of the U.S., eastern Ohio, the panhandle of West Virginia and California. Energy Services and its subsidiaries’ storage, LNG and portions of its midstream transmission operations are subject to regulation by the FERC. UGI International, LLC, through its subsidiaries and affiliates, primarily conducts an LPG distribution business throughout much of Europe. The LPG business is conducted principally through our subsidiaries, UGI France, AvantiGas and, prior to the sales in June and November 2025, UniverGas and Flaga. We conduct a domestic propane marketing and distribution business through AmeriGas Partners. AmeriGas Partners conducts its propane marketing and distribution business through its principal operating subsidiary AmeriGas OLP.

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Jun. 30, 2026

Equity [Abstract]

Schedule of Changes in AOCI, Net of Tax

The tables below present changes in AOCI, net of tax:


Three Months Ended June 30, 2026	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — March 31, 2026	$	23	$	(9)	$	(199)	$	(185)
Other comprehensive income (loss) before reclassification adjustments	—		7		(2)		5
Amounts reclassified from AOCI	(1)		(1)		—		(2)
Other comprehensive income (loss) attributable to UGI	(1)		6		(2)		3
AOCI — June 30, 2026	$	22	$	(3)	$	(201)	$	(182)

Three Months Ended June 30, 2025	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — March 31, 2025	$	10	$	(13)	$	(265)	$	(268)
Other comprehensive income (loss) before reclassification adjustments	—		(2)		89		87
Amounts reclassified from AOCI	1		(1)		—		—
Other comprehensive income (loss) attributable to UGI	1		(3)		89		87
AOCI — June 30, 2025	$	11	$	(16)	$	(176)	$	(181)

Nine Months Ended June 30, 2026	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — September 30, 2025	$	23	$	(15)	$	(181)	$	(173)
Other comprehensive income (loss) before reclassification adjustments	—		16		(20)		(4)
Amounts reclassified from AOCI	(1)		(4)		—		(5)
Other comprehensive income (loss) attributable to UGI	(1)		12		(20)		(9)
AOCI — June 30, 2026	$	22	$	(3)	$	(201)	$	(182)

Nine Months Ended June 30, 2025	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — September 30, 2024	$	10	$	(23)	$	(240)	$	(253)
Other comprehensive income (loss) before reclassification adjustments	—		9		64		73
Amounts reclassified from AOCI	1		(2)		—		(1)
Other comprehensive income (loss) attributable to UGI	1		7		64		72
AOCI — June 30, 2025	$	11	$	(16)	$	(176)	$	(181)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Inventory
Total inventories	$ 352	$ 385	$ 359
Non-utility LPG and natural gas
Inventory
Total inventories	160	162	159
Gas Utility natural gas
Inventory
Total inventories	35	67	38
Energy certificates
Inventory
Total inventories	57	64	64
Materials, supplies and other
Inventory
Total inventories	$ 100	$ 92	$ 98

Fair Value Measurements - Schedule of Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	$ 112	$ 97	$ 114
Liabilities:	(111)	(164)	(197)
Non-qualified supplemental postretirement grantor trust investments	37	35	34
Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	93	96	113
Liabilities:	(105)	(133)	(158)
Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	14	1
Liabilities:	(4)	(19)	(25)
Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	5		1
Liabilities:	(2)	(12)	(14)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-qualified supplemental postretirement grantor trust investments	37	35	34
Level 1 \| Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	58	85	100
Liabilities:	(83)	(72)	(103)
Level 1 \| Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	0	0
Liabilities:	0	0	0
Level 1 \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	0		0
Liabilities:	0	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-qualified supplemental postretirement grantor trust investments	0	0	0
Level 2 \| Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	35	11	13
Liabilities:	(22)	(61)	(55)
Level 2 \| Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	14	1
Liabilities:	(4)	(19)	(25)
Level 2 \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	5		1
Liabilities:	(2)	(12)	(14)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Non-qualified supplemental postretirement grantor trust investments	0	0	0
Level 3 \| Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	0	0	0
Liabilities:	0	0	0
Level 3 \| Foreign currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	0	0
Liabilities:	0	0	0
Level 3 \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets:	0		0
Liabilities:	$ 0	$ 0	$ 0

Utility Regulatory Assets and Liabilities and Regulatory Matters (Tables)

9 Months Ended

Jun. 30, 2026

Regulated Operations [Abstract]

Schedule of Regulatory Assets

The following regulatory assets and liabilities associated with our Utilities reportable segment are included in our Condensed Consolidated Balance Sheets:


	June 30, 2026		September 30, 2025		June 30, 2025
Regulatory assets (a):
Income taxes recoverable	$	114	$	113	$	111
Underfunded pension plans	96		100		102
Environmental costs	25		22		27
Deferred fuel and power costs	71		39		15
Removal costs, net	29		30		29
Other	32		36		35
Total regulatory assets	$	367	$	340	$	319
Regulatory liabilities (a):
Postretirement benefits	$	13	$	14	$	12

Deferred fuel and power refunds	5		4		10
State income tax benefits — distribution system repairs	50		49		45

Excess federal deferred income taxes	237		239		243
Other	10		8		13
Total regulatory liabilities	$	315	$	314	$	323

(a)Regulatory assets are recorded in “Prepaid expenses and other current assets” and “Other assets” on the Condensed Consolidated Balance Sheets. Regulatory liabilities are recorded in “Other current liabilities” and “Other noncurrent liabilities” on the Condensed Consolidated Balance Sheets.

Schedule of Regulatory Liabilities

The following regulatory assets and liabilities associated with our Utilities reportable segment are included in our Condensed Consolidated Balance Sheets:


	June 30, 2026		September 30, 2025		June 30, 2025
Regulatory assets (a):
Income taxes recoverable	$	114	$	113	$	111
Underfunded pension plans	96		100		102
Environmental costs	25		22		27
Deferred fuel and power costs	71		39		15
Removal costs, net	29		30		29
Other	32		36		35
Total regulatory assets	$	367	$	340	$	319
Regulatory liabilities (a):
Postretirement benefits	$	13	$	14	$	12

Deferred fuel and power refunds	5		4		10
State income tax benefits — distribution system repairs	50		49		45

Excess federal deferred income taxes	237		239		243
Other	10		8		13
Total regulatory liabilities	$	315	$	314	$	323

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Restricted Cash	Restricted Cash. Restricted cash principally represents those cash balances in our commodity futures brokerage accounts that are restricted from withdrawal.
Earnings Per Common Share	Earnings Per Common Share. Basic earnings per share attributable to UGI Corporation stockholders reflect the weighted-average number of common shares outstanding. Diluted earnings per share attributable to UGI Corporation stockholders include the effects of dilutive stock options, common stock awards, and UGI Corporation Senior Notes.
Derivative Instruments	Derivative Instruments. Derivative instruments are reported on the Condensed Consolidated Balance Sheets at their fair values, unless the NPNS exception is elected. The accounting for changes in fair value depends upon the purpose of the derivative instrument, whether it is subject to regulatory ratemaking mechanisms or if it qualifies and is designated as a hedge for accounting purposes. Certain of our derivative instruments qualify and are designated as cash flow hedges. For cash flow hedges, changes in the fair values of the derivative instruments are recorded in 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 occurrence of the forecasted transaction is determined to be no longer probable. Hedge accounting is also discontinued for derivatives that cease to be highly effective. We do not designate our commodity and certain foreign currency derivative instruments as hedges under GAAP. Changes in the fair values of these derivative instruments are reflected in net income. Gains and losses on substantially all of the commodity derivative instruments used by Utilities are included in regulatory assets or liabilities because it is probable such gains or losses will be recoverable from, or refundable to, customers. From time to time, we also enter into net investment hedges. Gains and losses on net investment hedges that relate to our foreign operations are included in the cumulative translation adjustment component in AOCI until such foreign net investment is substantially sold or liquidated. Cash flows from derivative instruments, other than certain net investment hedges, are included in cash flows from operating activities on the Condensed Consolidated Statements of Cash Flows. Cash flows from net investment hedges are included in cash flows from investing activities on the Condensed Consolidated Statements of Cash Flows.
Use of Estimates	Use of Estimates. 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.
Goodwill	Goodwill. We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is an operating segment, or one level below an operating segment (a component) if it constitutes a business for which discrete financial information is available and regularly reviewed by segment management. Components are aggregated into a single reporting unit if they have similar economic characteristics. Each of our reporting units with goodwill is required to perform impairment tests annually or whenever events or circumstances indicate that the value of goodwill may be impaired. With respect to AmeriGas Propane's Fiscal 2025 goodwill impairment test, the Company performed a quantitative assessment. Based on our evaluation, we determined that AmeriGas Propane’s fair value exceeded its carrying value by more than 25%. While the Company believes that its judgments used in the quantitative assessment of AmeriGas Propane’s fair value are reasonable based upon currently available facts and circumstances, if AmeriGas Propane were not able to achieve its anticipated results and/or if its discount rate were to increase, its fair value would be adversely affected, which may result in an impairment. There was $1.1 billion of goodwill in the AmeriGas Propane reporting unit as of June 30, 2026. The Company will continue to monitor its reporting units and related goodwill for any possible future non-cash impairment charges.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted Environmental Credits and Environmental Credit Obligations. In May 2026, the FASB issued ASU 2026-02, "Environmental Credits and Environmental Credit Obligations (Topic 818)" which provides authoritative guidance for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. This new guidance is effective for the Company for annual and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU should be applied using the modified retrospective method. The Company is in the process of assessing the impact on its financial statements and the period in which the new guidance will be adopted. Interim Reporting: Narrow-Scope Improvements. In December 2025, the FASB issued ASU 2025-11, “Narrow-Scope Improvements (Topic 270)” which clarifies disclosure requirements and applicability for interim financial statements. This new guidance is effective for the Company for interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Targeted Improvements to the Accounting for Internal-Use Software. In September 2025, the FASB issued ASU 2025-06, “Targeted Improvements to the Accounting for Internal-Use Software (Subtopic 350-40)” which, among other things, removes the prescriptive project stage requirements and allows entities to capitalize internal-use software costs when management authorizes and commits funding to the project and it is probable the software will be completed and used as intended. This new guidance is effective for the Company for annual and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective, modified, or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Measurement of Credit Losses for Accounts Receivable and Contract Assets. In July 2025, the FASB issued ASU 2025-05, “Measurement of Credit Losses for Accounts Receivable and Contract Assets (Topic 326)” which provides a practical expedient that allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. This new guidance is effective for the Company for annual and interim periods beginning October 1, 2026 (Fiscal 2027). Early adoption is permitted. The amendments in this ASU should be adopted using the prospective method. The Company is in the process of assessing the impact on its financial statements and the period in which the new guidance will be adopted. Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40)” which requires enhanced disclosure of income statement expense categories to improve transparency and provide financial statement users with more detailed information about the nature, amount and timing of expenses impacting financial performance. This new guidance is effective for the Company for annual periods beginning October 1, 2027 (Fiscal 2028) and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures (Topic 740)” which requires entities to disclose, among other items, disaggregated information about a reporting entity’s effective tax rate reconciliation and income taxes paid. This new guidance is effective for the Company for annual periods beginning October 1, 2025 (Fiscal 2026). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company will adopt the new guidance effective for the year ending September 30, 2026 and provide the additional disclosures as required by the new guidance.
Basis of Accounting, Policy	The accompanying condensed consolidated financial statements and footnotes are unaudited and have been prepared in accordance with GAAP and the rules and regulations of the SEC.

- Definition

Disclosure of accounting policy for its derivative instruments and hedging activities.

+ References

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+ Details

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Dispositions (Details) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
Dispositions (Details) $ in Millions	Oct. 31, 2025 USD ($)	Jun. 30, 2026 USD ($)	Mar. 31, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Apr. 30, 2026 USD ($) transmission_mile substation
Business Combination [Line Items]
Net loss (gain) on disposals of businesses		$ (7)		$ (54)	$ (42)	$ (54)
Sale
Business Combination [Line Items]
Cash proceeds		145			145
Net loss (gain) on disposals of businesses		(7)			(42)
Sale \| Electric Utility
Business Combination [Line Items]
Cash proceeds							$ 470
Number of transmission and distribution lines miles \| transmission_mile							2,700
Number of substations \| substation							14
Sale \| LPG Distribution Businesses
Business Combination [Line Items]
Net loss (gain) on disposals of businesses		$ (7)	$ (64)		(71)
Sale \| LPG Business, Romania
Business Combination [Line Items]
Net loss (gain) on disposals of businesses					(2)
Sale \| LPG Distribution Business, Flaga
Business Combination [Line Items]
Net loss (gain) on disposals of businesses					$ 29
Sale \| Cylinder Business
Business Combination [Line Items]
Net loss (gain) on disposals of businesses	$ 2

Derivative Instruments and Hedging Activities - Schedule of Notional Amounts (Details) € in Millions, kWh in Millions, gal in Millions, dth in Millions, $ in Millions	9 Months Ended		12 Months Ended
	Jun. 30, 2026 USD ($) dth kWh gal	Jun. 30, 2025 USD ($) dth kWh gal	Sep. 30, 2025 USD ($) dth kWh gal	Jun. 30, 2026 EUR (€)	Sep. 30, 2025 EUR (€)	Jun. 30, 2025 EUR (€)
Commodity contracts \| Regulated Utility Operations \| Natural Gas
Derivative [Line Items]
Notional amount (in units)	12	15	28
Commodity contracts \| Non-utility Operations \| LPG swaps
Derivative [Line Items]
LPG swaps (in gallons) \| gal	401	536	608
Commodity contracts \| Non-utility Operations \| Electricity forward and futures contracts
Derivative [Line Items]
Notional amount (in units) \| kWh	999	791	929
Natural gas futures, forward, basis swap, options and pipeline contracts \| Non-utility Operations \| Natural Gas
Derivative [Line Items]
Notional amount (in units)	212	241	237
Interest rate swaps
Derivative [Line Items]
Notional amount	$ 1,585	$ 1,446	$ 1,443	€ 200	€ 300	€ 300
Forward foreign currency exchange contracts
Derivative [Line Items]
Notional amount	$ 468	$ 440	$ 500	€ 106	€ 106	€ 106

Debt	9 Months Ended
Debt	Jun. 30, 2026
Debt Disclosure [Abstract]
Debt	Note 8 — Debt Significant Financing Activities The following significant financing activities occurred during Fiscal 2026. AmeriGas Propane AmeriGas Partners Senior Notes. In May 2026, AmeriGas Partners and AmeriGas Finance Corp. issued $500 aggregate principal amount of 6.875% Senior Notes due June 2031. The net proceeds from the issuance of the 6.875% Senior Notes, together with cash on hand and a $300 equity contribution from UGI, funded through a dividend from UGI International, LLC, were used to (1) repay in full the $512 outstanding principal balance of the 5.750% Senior Notes, due May 2027, pursuant to a tender offer and notice of redemption, plus tender and make-whole premiums and accrued and unpaid interest; (2) repurchase $175 aggregate principal amount of the 9.375% Senior Notes, due June 2028, pursuant to a tender offer, plus tender premiums and accrued and unpaid interest, resulting in $318 aggregate principal amount of 9.375% Senior Notes outstanding as of June 30, 2026; (3) repay in full the $150 outstanding borrowings of the intercompany loan with UGI International, plus accrued and unpaid interest; and (4) pay related fees and expenses. The 6.875% Senior Notes rank equally with AmeriGas Partners’ existing and future senior unsecured indebtedness and contain customary covenants and default provisions. UGI International UGI International Senior Notes. In May 2026, UGI International, LLC issued €300 aggregate principal amount of 5.00% Senior Notes due June 2031. The net proceeds from the issuance of the 5.00% Senior Notes, together with the $150 intercompany loan repayment received from AmeriGas Partners, were used to (1) prepay €70 aggregate principal amount of the Term Loan, due March 2028, plus accrued and unpaid interest, resulting in €230 aggregate principal amount of the Term Loan outstanding as of June 30, 2026; (2) pay related fees and expenses; (3) reduce short-term borrowings; and (4) fund general corporate purposes. The 5.00% Senior Notes rank equally with UGI International's existing and future senior unsecured indebtedness, including borrowings under the Credit Facilities Agreement, and contain customary covenants and default provisions. We have designated the UGI International 5.00% Senior Notes as a net investment hedge. Utilities UGI Utilities Senior Notes. In July 2025, UGI Utilities entered into a note purchase agreement with a consortium of lenders. Pursuant to the note purchase agreement, in November 2025, UGI Utilities issued $150 aggregate principal amount of 5.10% Senior Notes due November 15, 2030, and $125 aggregate principal amount of 5.68% Senior Notes due November 15, 2035. UGI Utilities used the net proceeds from the issuance of these senior notes to (1) repay the $100 outstanding principal balance of the 1.59% Senior Notes, due June 2026 and $75 outstanding principal balance of the 1.64% Senior Notes, due September 2026; (2) reduce short-term borrowings; and (3) for general corporate purposes. These senior notes are unsecured and rank equally with UGI Utilities’ existing outstanding senior debt. The note purchase agreement contains customary covenants and default provisions and requires compliance with certain financial covenants including a leverage ratio and priority debt ratio as defined in the agreement. In June 2026, UGI Utilities repaid the $100 outstanding principal balance of the 2.95% Senior Notes due June 2026 upon maturity. Midstream & Marketing Energy Services Term Loan Credit Agreement. In June 2026, Energy Services entered into the fourth amendment to the Energy Services Term Loan Credit Agreement. The Energy Services Term Loan Credit Agreement, as amended, provides, among other items, that the applicable margin shall be 2.00% per annum for Term SOFR loans and 1.00% per annum for base rate loans. All other significant terms of the term loan credit agreement remain unchanged. Energy Services Receivables Facility. Energy Services has a Receivables Facility with an issuer of receivables-backed commercial paper. In October 2025, the expiration date of the Receivables Facility was extended to October 2026. The Receivables Facility provides Energy Services with the ability to borrow up to $150 of eligible receivables during the period October 17, 2025 to April 30, 2026, and up to $75 of eligible receivables during the period May 1, 2026 to October 16, 2026, with the option to request consent for an increase of $50. Energy Services uses the Receivables Facility to fund working capital, margin calls under commodity futures contracts, capital expenditures, dividends and for general corporate purposes. UGI Corporation UGI Corporation Senior Notes. The Company has $700 aggregate principal amount of outstanding 5.00% UGI Corporation Senior Notes due June 2028. The UGI Corporation Senior Notes are convertible subject to the occurrence of certain events and circumstances. As of June 30, 2026, none of the events permitting the noteholders to convert their notes early existed. Accordingly, the UGI Corporation Senior Notes are classified as “Long-term debt” on the Condensed Consolidated Balance Sheet. For the three and nine months ended June 30, 2026 and 2025, the Company recognized $10 and $30, respectively, in both periods, of interest expense, including amortization of debt issuance costs, related to the UGI Corporation Senior Notes at the effective interest rate of 5.68% for all periods. 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 type debt (Level 2). The estimated fair values of the UGI Corporation Senior Notes were $944 and $894 at June 30, 2026 and September 30, 2025, respectively. See the Company’s 2025 Annual Report for additional information on our UGI Corporation Senior Notes. Loss on Extinguishments of Debt In conjunction with the amendment to the Energy Services Term Loan Credit Agreement and the early repayments of AmeriGas Partners’ Senior Notes, during the third quarter of Fiscal 2026, the Company recognized a pre-tax loss of $15, primarily comprising tender and make whole premiums and the write-off of unamortized debt issuance costs. During the third quarter of Fiscal 2025, pursuant to a tender offer and notice of redemption, AmeriGas Partners repaid in full all AmeriGas Partners’ 5.875% Senior Notes having an aggregate principal balance of $664. During the third quarter of Fiscal 2025, the Company recognized a pre-tax loss of $10, primarily related to AmeriGas Propane, comprising tender and make whole premiums and the write-off of unamortized debt issuance costs. Losses in connection with early repayment of debt are reflected in “Loss on extinguishments of debt” on the Condensed Consolidated Statements of Income. Supplemental Cash Flow Information The Company regularly uses its credit facilities (other than the UGI Corporation 2025 Credit Agreement) and, in the case of Energy Services, the Receivables Facility, to support its working capital needs with borrowings of $1,809 and repayments of $1,958 during the nine months ended June 30, 2026.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt - Narrative (Details)	1 Months Ended				3 Months Ended		9 Months Ended
Debt - Narrative (Details)	Jun. 30, 2026 USD ($)	May 31, 2026 USD ($)	May 31, 2026 EUR (€)	Oct. 31, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	May 31, 2026 EUR (€)	Nov. 30, 2025 USD ($)	Sep. 30, 2025 USD ($)	Jul. 31, 2025 USD ($)
Debt Instrument [Line Items]
Loss on extinguishments of debt					$ 15,000,000	$ 10,000,000	$ 15,000,000	$ 10,000,000
Proceeds from short-term debt							1,809,000,000
Repayments of short-term debt							1,958,000,000
AmeriGas Partners
Debt Instrument [Line Items]
Proceeds from contributions from parent		$ 300,000,000
Senior Notes Due 2031 \| Senior Notes \| AmeriGas Partners And AmeriGas Finance Corps
Debt Instrument [Line Items]
Principal amount		$ 500,000,000
Interest rate		6.875%							6.875%
Senior Notes Due 2031 \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Interest rate		6.875%							6.875%
Senior Notes Due 2031 \| Senior Notes \| UGI International
Debt Instrument [Line Items]
Principal amount \| €									€ 300,000,000
Interest rate		5.00%							5.00%
Senior Notes Due 2027 \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Interest rate		5.75%							5.75%
Repayments of secured debt		$ 512,000,000
Senior Notes Due 2028 \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Interest rate		9.375%							9.375%
Repayments of secured debt		$ 175,000,000
Senior Notes Due June 2026 \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Principal amount	$ 318,000,000				$ 318,000,000		$ 318,000,000
Interest rate	9.375%				9.375%		9.375%
Senior Notes Due June 2026 \| Senior Notes \| Utilities
Debt Instrument [Line Items]
Interest rate	2.95%				2.95%		2.95%					1.59%
Repayments of secured debt	$ 100,000,000				$ 100,000,000		$ 100,000,000					$ 100,000,000
Intercompany Loan \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Repayments of secured debt		$ 150,000,000
UGI International Senior Notes \| Senior Notes \| UGI International
Debt Instrument [Line Items]
Principal amount \| €									€ 230,000,000
UGI International Senior Notes \| Credit Agreement \| UGI International
Debt Instrument [Line Items]
Principal balance \| €			€ 70,000,000
Senior Notes Due 2030 \| Senior Notes \| Utilities
Debt Instrument [Line Items]
Principal amount										$ 150,000,000
Interest rate										5.10%
Conversion ratio							0.0362319
Default conversion settlement ratio							1
Senior Notes Due 2035 \| Senior Notes \| Utilities
Debt Instrument [Line Items]
Principal amount												$ 125,000,000
Interest rate												5.68%
Senior Notes Due September 2026 \| Senior Notes \| Utilities
Debt Instrument [Line Items]
Interest rate												1.64%
Repayments of secured debt												$ 75,000,000
UGI Energy Services Amended Term Loan Credit Agreement \| Credit Agreement \| SOFR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
UGI Energy Services Amended Term Loan Credit Agreement \| Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Energy Services Accounts Receivable Securitization Facility \| Energy Services \| Receivables Facility
Debt Instrument [Line Items]
Option to increase				$ 50,000,000
Energy Services Accounts Receivable Securitization Facility \| Energy Services \| Period October 18, 2024 to April 30, 2025 \| Receivables Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				150,000,000
Energy Services Accounts Receivable Securitization Facility \| Energy Services \| Period May 1, 2025 to October 17, 2025 \| Receivables Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 75,000,000
UGI Corporation Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 700,000,000				$ 700,000,000		$ 700,000,000
Interest rate	5.00%				5.00%		5.00%
Interest expense					$ 10,000,000	$ 10,000,000	$ 30,000,000	$ 30,000,000
Effective interest rate (as a percentage)					5.68%	5.68%	5.68%	5.68%
UGI Corporation Senior Notes \| Senior Notes \| Level 2
Debt Instrument [Line Items]
Long-term debt	$ 944,000,000				$ 944,000,000		$ 944,000,000				$ 894,000,000
UGI Corporation Senior Notes \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Loss on extinguishments of debt					$ 15,000,000
AmeriGas Partners Senior Notes \| Senior Notes \| AmeriGas Partners
Debt Instrument [Line Items]
Interest rate						5.875%		5.875%
Principal balance						$ 664,000,000

Segment Information - Narrative (Details)	9 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Derivative Instruments and Hedging Activities - Schedule of Effects of Derivative Instruments on the Condensed Consolidated Statements of Income and Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Derivatives not designated as hedging instruments:
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	$ (78)	$ (148)	$ 97	$ 1
Interest rate contracts \| Derivatives designated as hedging instruments: \| Cash Flow Hedges:
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in AOCI	10	(2)	22	12
Interest rate contracts \| Derivatives designated as hedging instruments: \| Income Statement Location [Axis]: us-gaap:InterestExpenseNonoperating \| Cash Flow Hedges:
Derivative Instruments, Gain (Loss)
Gain (Loss) Reclassified from AOCI into Income	1	2	5	3
Commodity contracts \| Derivatives not designated as hedging instruments: \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	(86)	(122)	84	14
Commodity contracts \| Derivatives not designated as hedging instruments: \| Income Statement Location [Axis]: us-gaap:OtherOperatingIncomeExpenseNet
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	2	(1)	(1)	(2)
Commodity contracts \| Derivatives not designated as hedging instruments: \| Income Statement Location [Axis]: us-gaap:Revenues
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	0	1	0	(1)
Foreign currency contracts \| Derivatives designated as hedging instruments: \| Net Investment Hedges:
Derivative Instruments, Gain (Loss)
Foreign currency contracts	1	(17)	5	(10)
Foreign currency contracts \| Derivatives not designated as hedging instruments: \| Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Derivative Instruments, Gain (Loss)
Gain (Loss) Recognized in Income	$ 6	$ (26)	$ 14	$ (10)

Utility Regulatory Assets and Liabilities and Regulatory Matters

9 Months Ended

Jun. 30, 2026

Regulated Operations [Abstract]

Utility Regulatory Assets and Liabilities and Regulatory Matters

Note 7 — Utility Regulatory Assets and Liabilities and Regulatory Matters

For a description of the Company’s regulatory assets and liabilities, other than those described below, see Note 9 in the Company’s 2025 Annual Report. Other than removal costs, Utilities currently does not recover a rate of return on the regulatory assets listed below. The following regulatory assets and liabilities associated with our Utilities reportable segment are included in our Condensed Consolidated Balance Sheets:


	June 30, 2026		September 30, 2025		June 30, 2025
Regulatory assets (a):
Income taxes recoverable	$	114	$	113	$	111
Underfunded pension plans	96		100		102
Environmental costs	25		22		27
Deferred fuel and power costs	71		39		15
Removal costs, net	29		30		29
Other	32		36		35
Total regulatory assets	$	367	$	340	$	319
Regulatory liabilities (a):
Postretirement benefits	$	13	$	14	$	12

Deferred fuel and power refunds	5		4		10
State income tax benefits — distribution system repairs	50		49		45

Excess federal deferred income taxes	237		239		243
Other	10		8		13
Total regulatory liabilities	$	315	$	314	$	323

Deferred fuel and power - costs and refunds. Utilities’ tariffs contain clauses that permit recovery of all prudently incurred purchased gas and power costs through the application of PGC rates, PGA rates and DS tariffs. These clauses provide for periodic adjustments to PGC, PGA and DS rates for differences between the total amount of purchased gas and electric generation supply costs billed to customers and recoverable costs incurred. Net underbilled costs are classified as a regulatory asset and net overbillings are classified as a regulatory liability.

PA Gas Utility uses derivative instruments to reduce volatility in the cost of gas it purchases for retail core-market customers. Realized and unrealized gains or losses on natural gas derivative instruments are included in deferred fuel and power costs or refunds. Net unrealized gains (losses) on such contracts at June 30, 2026, September 30, 2025 and June 30, 2025 were $(5), $(5) and $1, respectively.

Other Regulatory Matters

UGI Utilities. On March 27, 2026, Electric Utility filed a rate request with the PAPUC to increase its annual base distribution revenues by $17. The increased revenues would fund ongoing system improvements and operations necessary to maintain safe and reliable electric service. Electric Utility requested that the new electric rates become effective June 1, 2026. The PAPUC entered an order on April 16, 2026, suspending the effective date for the rate increase to allow for investigation and public hearings. Unless a settlement is reached sooner, the review process is expected to last up to nine months from the date of filing. The Company cannot predict the timing or the ultimate outcome of the rate case review process.

On January 28, 2026, PA Gas Utility filed a request with the PAPUC to increase its base operating revenues for residential, commercial and industrial customers by $99 annually. On July 6, 2026, a joint petition for approval of settlement of all issues was filed with the PAPUC. It provided for a $65 annual base distribution rate increase, through a phased approach, with an increase of $40 effective October 1, 2026 and an additional increase of $25 effective October 1, 2027. It also provided for maintenance of the weather normalization adjustment through the end of the second pilot period with modification. In

accordance with the terms of the joint petition, PA Gas Utility will not be permitted to file a general rate increase request prior to January 15, 2029. On July 31, 2026, the presiding PAPUC administrative law judges recommended that the settlement be approved without modification. The joint petition remains subject to receipt of a final order of the PAPUC approving the settlement. The Company cannot predict the timing or the ultimate outcome of the rate case review process.

On January 27, 2025, PA Gas Utility filed a request with the PAPUC to increase its base operating revenues for residential, commercial and industrial customers by $110 annually. On September 11, 2025, the PAPUC issued a final order approving a settlement providing for a $70 annual base distribution rate increase, effective October 28, 2025, and maintenance of the weather normalization adjustment through the end of its pilot period with modification.

Mountaineer. On February 3, 2026, WV Gas Utility submitted a base rate case filing with the WVPSC seeking a net revenue increase of $27, which consisted of an increase in base rates of $44 and a decrease in the IREP rates of $17 annually. The increased revenues would fund ongoing system improvements and operations necessary to maintain safe and reliable natural gas service. WV Gas Utility requested the new gas rates become effective March 5, 2026. The WVPSC entered an order on March 2, 2026, suspending the effective date for the rate increase to allow for a full review of the filing and public hearings. Unless a settlement is reached sooner, the review process is expected to last up to 270 days from the date of filing. The Company cannot predict the timing or the ultimate outcome of the rate case review process.

On July 31, 2026, WV Gas Utility submitted its 2026 IREP filing to the WVPSC requesting recovery of $14, an increase of $9, for costs associated with capital investments after September 30, 2025, that total $180, including $83 in calendar year 2027. The filing included capital investments totaling $475 over the 2027 - 2031 period. An order from the WVPSC is expected in December with new rates effective January 1, 2027.

On July 31, 2025, WV Gas Utility submitted its 2025 IREP filing to the WVPSC requesting recovery of $24, an increase of $5, for costs associated with capital investments after December 31, 2022, that total $274, including $77 in calendar year 2026. The filing included capital investments totaling $445 over the 2026 - 2030 period. On December 17, 2025, the WVPSC issued an order approving WV Gas Utility’s request, with new rates effective January 1, 2026.

On July 31, 2024, WV Gas Utility submitted its 2024 IREP filing to the WVPSC requesting recovery of $19, which includes $3 of prior year under-recovery, for costs associated with capital investments after December 31, 2022, that total $197, including $74 in calendar year 2025. The filing included capital investments totaling $418 over the 2025 - 2029 period. On October 28, 2024, the WVPSC issued an order approving WV Gas Utility’s request, with new rates effective January 1, 2025.

Cover - shares	9 Months Ended
Cover - shares	Jun. 30, 2026	Jul. 31, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	1-11071
Entity Registrant Name	UGI CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-2668356
Entity Address, Address Line One	500 North Gulph Road
Entity Address, City or Town	King of Prussia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19406
City Area Code	610
Local Phone Number	337-1000
Title of 12(b) Security	Common Stock, without par value
Trading Symbol	UGI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		214,494,967
Entity Central Index Key	0000884614
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--09-30

Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025
Derivative [Line Items]
Pre-tax gains (losses) associated with net investment hedges	$ 13,000,000	$ (68,000,000)	$ 26,000,000	$ (46,000,000)
Maximum amount of loss	112,000,000		112,000,000
Cash collateral received	1,000,000	21,000,000	1,000,000	21,000,000	$ 2,000,000
IRPAs
Derivative [Line Items]
Notional amount	$ 0	$ 0	$ 0	$ 0	$ 0
Forward foreign currency exchange contracts
Derivative [Line Items]
Derivative notional amount percent of required need coverage	90.00%		90.00%

- Definition

Amount of obligation to return cash collateral under master netting arrangements that have not been offset against derivative assets.

+ References + Details

Fair Value Measurements

9 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 10 — Fair Value Measurements

Recurring Fair Value Measurements


	Asset (Liability)
	Level 1		Level 2		Level 3		Total
June 30, 2026:
Derivative instruments:
Assets:
Commodity contracts	$	58	$	35	$	—	$	93
Foreign currency contracts	$	—	$	14	$	—	$	14
Interest rate contracts	$	—	$	5	$	—	$	5

Liabilities:
Commodity contracts	$	(83)	$	(22)	$	—	$	(105)
Foreign currency contracts	$	—	$	(4)	$	—	$	(4)
Interest rate contracts	$	—	$	(2)	$	—	$	(2)

Non-qualified supplemental postretirement grantor trust investments (a)	$	37	$	—	$	—	$	37
September 30, 2025:
Derivative instruments:
Assets:
Commodity contracts	$	85	$	11	$	—	$	96
Foreign currency contracts	$	—	$	1	$	—	$	1


Liabilities:
Commodity contracts	$	(72)	$	(61)	$	—	$	(133)
Foreign currency contracts	$	—	$	(19)	$	—	$	(19)
Interest rate contracts	$	—	$	(12)	$	—	$	(12)

Non-qualified supplemental postretirement grantor trust investments (a)	$	35	$	—	$	—	$	35
June 30, 2025:
Derivative instruments:
Assets:
Commodity contracts	$	100	$	13	$	—	$	113

Interest rate contracts	$	—	$	1	$	—	$	1

Liabilities:
Commodity contracts	$	(103)	$	(55)	$	—	$	(158)
Foreign currency contracts	$	—	$	(25)	$	—	$	(25)
Interest rate contracts	$	—	$	(14)	$	—	$	(14)

Non-qualified supplemental postretirement grantor trust investments (a)	$	34	$	—	$	—	$	34

(a)Consists primarily of mutual fund investments held in grantor trusts associated with non-qualified supplemental retirement plans.

The fair values of our Level 1 exchange-traded commodity futures and option contracts and non-exchange-traded commodity futures and forward contracts are based upon actively quoted market prices for identical assets and liabilities. Substantially all of the remaining derivative instruments are designated as Level 2. The fair values of certain non-exchange-traded commodity derivatives designated as Level 2 are based upon indicative price quotations available through brokers, industry price publications or recent market transactions and related market indicators. The fair values of our Level 2 interest rate contracts and foreign currency contracts are based upon third-party quotes or indicative values based on recent market transactions. The fair values of investments held in grantor trusts are derived from quoted market prices as substantially all of the investments in these trusts have active markets.

Nonrecurring Fair Value Measurements

During the quarter ended March 31, 2026, in connection with the disposition of the LPG distribution businesses in Czech Republic, Hungary, Poland and Slovakia, we recognized a non-cash, pre-tax impairment charge of $64, to reduce the carrying amount of the long-lived assets included in the disposal groups to their estimated fair values. The Company determined the estimated fair value of such assets fell within Level 2 of the fair value hierarchy and was based upon the estimated sales price. See Note 5 for additional information on these transactions.

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. 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 type debt (Level 2). The carrying amounts and estimated fair values of our long-term debt (including current maturities but excluding unamortized debt issuance costs) were as follows:


	June 30, 2026		September 30, 2025		June 30, 2025
Carrying amount	$	6,768	$	6,701	$	6,644
Estimated fair value	$	6,880	$	6,777	$	6,743

Financial instruments other than derivative instruments, such as short-term investments and trade accounts receivable, could expose us to concentrations of credit risk. We limit credit risk from short-term investments by investing only in investment-grade commercial paper, money market mutual funds, securities guaranteed by the U.S. Government or its agencies and FDIC insured bank deposits. The credit risk arising from concentrations of trade accounts receivable is limited because we have a large customer base that extends across many different U.S. markets and a number of foreign countries. See Note 11 for information regarding concentrations of credit risk associated with our derivative instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Topic 820
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+ Details

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Derivative assets:
Total derivative assets — gross	$ 112	$ 97	$ 114
Gross amounts offset in the balance sheet	(68)	(65)	(77)
Cash collateral received	(1)	(2)	(21)
Total derivative assets — net	43	30	16
Derivative liabilities:
Total derivative liabilities — gross	(111)	(164)	(197)
Gross amounts offset in the balance sheet	68	65	77
Cash collateral pledged	0	19	38
Total derivative liabilities — net	(43)	(80)	(82)
Foreign currency contracts
Derivative assets:
Total derivative assets — gross	14	1
Derivative liabilities:
Total derivative liabilities — gross	(4)	(19)	(25)
Interest rate contracts
Derivative assets:
Total derivative assets — gross	5		1
Derivative liabilities:
Total derivative liabilities — gross	(2)	(12)	(14)
Commodity contracts
Derivative assets:
Total derivative assets — gross	93	96	113
Derivative liabilities:
Total derivative liabilities — gross	(105)	(133)	(158)
Derivatives designated as hedging instruments:
Derivative assets:
Total derivative assets — gross	11	1	1
Derivatives designated as hedging instruments: \| Foreign currency contracts
Derivative assets:
Total derivative assets — gross	6	1	0
Derivatives designated as hedging instruments: \| Interest rate contracts
Derivative assets:
Total derivative assets — gross	5	0	1
Derivative liabilities:
Total derivative liabilities — gross	(2)	(12)	(14)
Derivatives designated as hedging instruments: \| Commodity contracts
Derivative assets:
Total derivative assets — gross	0	3	3
Derivative liabilities:
Total derivative liabilities — gross	(5)	(8)	(2)
Derivatives not designated as hedging instruments:
Derivative assets:
Total derivative assets — gross	101	93	110
Derivative liabilities:
Total derivative liabilities — gross	(104)	(144)	(181)
Derivatives not designated as hedging instruments: \| Foreign currency contracts
Derivative assets:
Total derivative assets — gross	8	0	0
Derivative liabilities:
Total derivative liabilities — gross	(4)	(19)	(25)
Derivatives not designated as hedging instruments: \| Commodity contracts
Derivative assets:
Total derivative assets — gross	93	93	110
Derivative liabilities:
Total derivative liabilities — gross	$ (100)	$ (125)	$ (156)

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Utility Regulatory Assets and Liabilities and Regulatory Matters - Schedule of Regulatory Assets and Liabilities (Details) - Utilities - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Regulatory Assets
Total regulatory assets	$ 367	$ 340	$ 319
Regulatory Liabilities
Total regulatory liabilities	315	314	323
Postretirement benefits
Regulatory Liabilities
Total regulatory liabilities	13	14	12
Deferred fuel and power refunds
Regulatory Liabilities
Total regulatory liabilities	5	4	10
State income tax benefits — distribution system repairs
Regulatory Liabilities
Total regulatory liabilities	50	49	45
Excess federal deferred income taxes
Regulatory Liabilities
Total regulatory liabilities	237	239	243
Other
Regulatory Liabilities
Total regulatory liabilities	10	8	13
Income taxes recoverable
Regulatory Assets
Total regulatory assets	114	113	111
Underfunded pension plans
Regulatory Assets
Total regulatory assets	96	100	102
Environmental costs
Regulatory Assets
Total regulatory assets	25	22	27
Deferred fuel and power costs
Regulatory Assets
Total regulatory assets	71	39	15
Removal costs, net
Regulatory Assets
Total regulatory assets	29	30	29
Other
Regulatory Assets
Total regulatory assets	$ 32	$ 36	$ 35

Commitments and Contingencies (Details)	9 Months Ended	12 Months Ended
Commitments and Contingencies (Details)	Jun. 30, 2026 USD ($) subsidiary	Sep. 30, 2024 USD ($)	Dec. 31, 2017 USD ($) record_of_decision	Sep. 30, 2025 USD ($)	Jun. 30, 2025 USD ($)	Mar. 24, 2023 person
Loss Contingencies
Environmental expenditures cap during calendar year	$ 5,000,000
West Reading, Pennsylvania Explosion
Loss Contingencies
Number of fatalities \| person						7
Number of injuries \| person						10
MGP sites in Pennsylvania
Loss Contingencies
Accrual for environmental loss contingencies	$ 66,000,000			$ 63,000,000	$ 53,000,000
Utilities
Loss Contingencies
Number of subsidiaries acquired with similar histories \| subsidiary	2
AmeriGas OLP \| Saranac Lake, New York \| NYDEC ROD
Loss Contingencies
Number of remediation plans \| record_of_decision			3
Estimated remediation plan cost			$ 28,000,000
AmeriGas OLP \| Saranac Lake, New York \| NYDEC RP
Loss Contingencies
Environmental remediation expense, before recovery		$ 19,000,000

Derivative Instruments and Hedging Activities

9 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Note 11 — 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: (1) commodity price risk; (2) interest rate risk; and (3) foreign currency exchange 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. Although our commodity derivative instruments extend over a number of years, a significant portion of our commodity derivative instruments economically hedge commodity price risk during the next twelve months. See Note 2 for information on the accounting for our derivative instruments.

The following sections summarize the types of derivative instruments used by the Company to manage these market risks.

Commodity Price Risk

Regulated Utility Operations

Natural Gas

PA Gas Utility’s tariffs contain clauses that permit recovery of all 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 PAPUC pursuant to PA Gas Utility’s annual PGC filings, PA Gas Utility currently uses 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. See Note 7 for further information on the regulatory accounting treatment for these derivative instruments.

Non-utility Operations

LPG

In order to manage market price risk associated with the Partnership’s fixed-price programs and to reduce the effects of short-term commodity price volatility, the Partnership uses over-the-counter derivative commodity instruments, principally price swap contracts. In addition, the Partnership and our UGI International operations also use over-the-counter price swap and option contracts to reduce commodity price volatility associated with a portion of their forecasted LPG purchases.

Natural Gas

In order to manage market price risk relating to fixed-price sales contracts for physical natural gas, Midstream & Marketing enters into NYMEX and over-the-counter natural gas futures and over-the-counter and ICE natural gas basis swap contracts. In addition, Midstream & Marketing uses NYMEX and over-the-counter futures and options contracts to economically hedge price volatility associated with the gross margin derived from the purchase and anticipated later near-term sale of natural gas storage inventories. Outside of the financial market, Midstream & Marketing also uses ICE and over-the-counter forward physical contracts.

Electricity

In order to manage market price risk relating to fixed-price sales contracts for electricity, Midstream & Marketing enters into electricity futures and forward contracts.

Interest Rate Risk

Certain of our long-term debt agreements have interest rates that are generally indexed to short-term market interest rates. In order to fix the underlying short-term market interest rates, we may enter into pay-fixed, receive-variable interest rate swap agreements and designate such swaps as cash flow hedges.

The remainder of our long-term debt is typically issued at fixed rates of interest. As this long-term debt matures, 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 IRPAs. We account for IRPAs as cash flow hedges. There were no unsettled IRPAs during any of the periods presented. At June 30, 2026, the amount of pre-tax net (gains) losses associated with interest rate hedges expected to be reclassified into earnings during the next twelve months is not material.

Foreign Currency Exchange Rate Risk

Forward Foreign Currency Exchange Contracts

In order to reduce the volatility in net income associated with our foreign operations, principally as a result of changes in the USD exchange rate to the euro and British pound sterling, we enter into forward foreign currency exchange contracts. We layer in these foreign currency exchange contracts over multi-year periods to eventually equal approximately 90% of anticipated UGI International foreign currency earnings before income taxes. Because these contracts are not designated as hedging instruments, realized and unrealized gains and losses on these contracts are recorded in “Other non-operating income (expense), net” on the Condensed Consolidated Statements of Income.

Net Investment Hedges

From time to time, we also enter into certain forward foreign currency exchange contracts to reduce the volatility of the USD value of a portion of our UGI International euro-denominated net investments, including anticipated foreign currency denominated dividends. We account for these foreign currency exchange contracts as net investment hedges and all changes in the fair value of these contracts are reported in the cumulative translation adjustment component in AOCI. We use the spot rate method to measure ineffectiveness of our net investment hedges.

Our euro-denominated long-term debt has also been designated as net investment hedges, representing a portion of our UGI International euro-denominated net investment. We recognized pre-tax gains (losses) associated with these net investment hedges in the cumulative translation adjustment component in AOCI of $13 and $(68) during the three months ended June 30, 2026 and 2025, respectively, and $26 and $(46) during the nine months ended June 30, 2026 and 2025, respectively.

Quantitative Disclosures Related to Derivative Instruments

The following table summarizes by derivative type the gross notional amounts related to open derivative contracts at June 30, 2026, September 30, 2025 and June 30, 2025, and the final settlement dates of the Company's open derivative contracts as of June 30, 2026, but excluding those derivatives that qualified for the NPNS exception:


			Notional Amounts (in millions)
Type	Units	Settlements Extending Through	June 30, 2026		September 30, 2025		June 30, 2025
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contracts	Dekatherms	February 2027	12		28		15


Non-utility Operations
LPG swaps	Gallons	May 2029	401		608		536
Natural gas futures, forward, basis swap, options and pipeline contracts	Dekatherms	March 2030	212		237		241




Electricity forward and futures contracts	Kilowatt hours	December 2029	999		929		791

Interest Rate Risk:
Interest rate swaps	Euro	June 2027	€	200	€	300	€	300
Interest rate swaps	USD	September 2028	$	1,585	$	1,443	$	1,446

Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contracts	USD	September 2029	$	468	$	500	$	440
Net investment hedge forward foreign exchange contracts	Euro	December 2026	€	106	€	106	€	106

Derivative Instrument Credit Risk

We are exposed to risk of loss in the event of nonperformance by our derivative instrument counterparties. Our derivative instrument counterparties principally comprise large energy companies and major U.S. and international financial institutions. We maintain credit policies with regard to our counterparties that we believe reduce overall credit risk. These policies include evaluating and monitoring our counterparties’ financial condition, including their credit ratings, and entering into agreements with counterparties that govern credit limits or entering into netting agreements that allow for offsetting counterparty receivable and payable balances for certain financial transactions, as deemed appropriate.

We have concentrations of credit risk associated with derivative instruments and we evaluate the creditworthiness of our derivative counterparties on an ongoing basis. At June 30, 2026, the maximum amount of loss, based upon the gross fair values of the derivative instruments, we would incur if these counterparties failed to perform according to the terms of their contracts was $112. In general, many of our over-the-counter derivative instruments and all exchange contracts call for the posting of collateral by the counterparty or by the Company in the forms of letters of credit, parental guarantees or cash. At June 30, 2026, we had received cash collateral from derivative instrument counterparties totaling $1. In addition, we may have offsetting derivative liabilities and certain accounts payable balances with certain of these counterparties, which further mitigates the previously mentioned maximum amount of losses. Certain of the Partnership’s derivative contracts have credit-risk-related contingent features that may require the posting of additional collateral in the event of a downgrade of the Partnership’s debt rating. At June 30, 2026, if the credit-risk-related contingent features were triggered, the amount of collateral required to be posted would not be material.

Offsetting Derivative Assets and Liabilities

Derivative assets and liabilities are presented net by counterparty on the Condensed Consolidated Balance Sheets if the right of offset exists. We offset amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral against amounts recognized for derivative instruments executed with the same counterparty. Our derivative instruments include both those that are executed on an exchange through brokers and centrally cleared and over-the-counter transactions. Exchange contracts utilize a financial intermediary, exchange or clearinghouse to enter, execute or clear the transactions. Over-the-counter contracts are bilateral contracts that are transacted directly with a third party. Certain over-the-counter and exchange contracts contain contractual rights of offset through master netting arrangements, derivative clearing agreements and contract default provisions. In addition, the contracts are subject to conditional rights of offset through counterparty nonperformance, insolvency or other conditions.

In general, many of our over-the-counter transactions and all exchange contracts are subject to collateral requirements. Types of collateral generally include cash or letters of credit. Cash collateral paid by us to our over-the-counter derivative counterparties, if any, is reflected in the table below to offset derivative liabilities. Cash collateral received by us from our over-the-counter derivative counterparties, if any, is reflected in the table below to offset derivative assets. Certain other accounts receivable and accounts payable balances recognized on the Condensed Consolidated Balance Sheets with our derivative counterparties are not included in the table below but could reduce our net exposure to such counterparties because such balances are subject to master netting or similar arrangements.

Fair Value of Derivative Instruments

The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting:


	June 30, 2026		September 30, 2025		June 30, 2025
Derivative assets:
Derivatives designated as hedging instruments:

Foreign currency contracts	$	6	$	1	$	—
Interest rate contracts	5		—		1
	11		1		1
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	—		3		3
Derivatives not designated as hedging instruments:
Commodity contracts	93		93		110
Foreign currency contracts	8		—		—
	101		93		110
Total derivative assets — gross	112		97		114
Gross amounts offset in the balance sheet	(68)		(65)		(77)
Cash collateral received	(1)		(2)		(21)
Total derivative assets — net	$	43	$	30	$	16
Derivative liabilities:
Derivatives designated as hedging instruments:



Interest rate contracts	$	(2)	$	(12)	$	(14)

Derivatives subject to PGC and DS mechanisms:
Commodity contracts	(5)		(8)		(2)
Derivatives not designated as hedging instruments:
Commodity contracts	(100)		(125)		(156)
Foreign currency contracts	(4)		(19)		(25)
	(104)		(144)		(181)
Total derivative liabilities — gross	(111)		(164)		(197)
Gross amounts offset in the balance sheet	68		65		77
Cash collateral pledged	—		19		38
Total derivative liabilities — net	$	(43)	$	(80)	$	(82)

Effects of Derivative Instruments

The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI:


Three Months Ended June 30,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2026		2025		2026		2025



Interest rate contracts	$	10	$	(2)	$	1	$	2	Interest expense


Net Investment Hedges:
Foreign currency contracts	$	1	$	(17)

	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2026		2025		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	—	$	1	Revenues
Commodity contracts	(86)		(122)		Cost of sales

Commodity contracts	2		(1)		Other operating expense (income), net
Foreign currency contracts	6		(26)		Other non-operating income (expense), net
Total	$	(78)	$	(148)

Nine Months Ended June 30,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2026		2025		2026		2025



Interest rate contracts	$	22	$	12	$	5	$	3	Interest expense


Net Investment Hedges:
Foreign currency contracts	$	5	$	(10)

	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2026		2025		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	—	$	(1)	Revenues
Commodity contracts	84		14		Cost of sales

Commodity contracts	(1)		(2)		Other operating expense (income), net
Foreign currency contracts	14		(10)		Other non-operating income (expense), net
Total	$	97	$	1

We are also a party to a number of other contracts that have elements of a derivative instrument. However, these contracts qualify for NPNS exception accounting 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 these contracts are based on an underlying that is directly associated with the price of the product or service being purchased or sold. These contracts include, among others, binding purchase orders, contracts that provide for the purchase and delivery, or sale, of energy products, and service contracts that require the counterparty to provide commodity storage, transportation or capacity service to meet our normal sales commitments.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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-URI https://asc.fasb.org/1943274/2147480434/815-10-50-2

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+ Details

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts Related to Open Derivative Contracts


			Notional Amounts (in millions)
Type	Units	Settlements Extending Through	June 30, 2026		September 30, 2025		June 30, 2025
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contracts	Dekatherms	February 2027	12		28		15


Non-utility Operations
LPG swaps	Gallons	May 2029	401		608		536
Natural gas futures, forward, basis swap, options and pipeline contracts	Dekatherms	March 2030	212		237		241




Electricity forward and futures contracts	Kilowatt hours	December 2029	999		929		791

Interest Rate Risk:
Interest rate swaps	Euro	June 2027	€	200	€	300	€	300
Interest rate swaps	USD	September 2028	$	1,585	$	1,443	$	1,446

Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contracts	USD	September 2029	$	468	$	500	$	440
Net investment hedge forward foreign exchange contracts	Euro	December 2026	€	106	€	106	€	106

Schedule of Derivative Assets, Liabilities and Effects of Offsetting

The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting:


	June 30, 2026		September 30, 2025		June 30, 2025
Derivative assets:
Derivatives designated as hedging instruments:

Foreign currency contracts	$	6	$	1	$	—
Interest rate contracts	5		—		1
	11		1		1
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	—		3		3
Derivatives not designated as hedging instruments:
Commodity contracts	93		93		110
Foreign currency contracts	8		—		—
	101		93		110
Total derivative assets — gross	112		97		114
Gross amounts offset in the balance sheet	(68)		(65)		(77)
Cash collateral received	(1)		(2)		(21)
Total derivative assets — net	$	43	$	30	$	16
Derivative liabilities:
Derivatives designated as hedging instruments:



Interest rate contracts	$	(2)	$	(12)	$	(14)

Derivatives subject to PGC and DS mechanisms:
Commodity contracts	(5)		(8)		(2)
Derivatives not designated as hedging instruments:
Commodity contracts	(100)		(125)		(156)
Foreign currency contracts	(4)		(19)		(25)
	(104)		(144)		(181)
Total derivative liabilities — gross	(111)		(164)		(197)
Gross amounts offset in the balance sheet	68		65		77
Cash collateral pledged	—		19		38
Total derivative liabilities — net	$	(43)	$	(80)	$	(82)

Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI

The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI:


Three Months Ended June 30,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2026		2025		2026		2025



Interest rate contracts	$	10	$	(2)	$	1	$	2	Interest expense


Net Investment Hedges:
Foreign currency contracts	$	1	$	(17)

	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2026		2025		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	—	$	1	Revenues
Commodity contracts	(86)		(122)		Cost of sales

Commodity contracts	2		(1)		Other operating expense (income), net
Foreign currency contracts	6		(26)		Other non-operating income (expense), net
Total	$	(78)	$	(148)

Nine Months Ended June 30,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2026		2025		2026		2025



Interest rate contracts	$	22	$	12	$	5	$	3	Interest expense


Net Investment Hedges:
Foreign currency contracts	$	5	$	(10)

	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2026		2025		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	—	$	(1)	Revenues
Commodity contracts	84		14		Cost of sales

Commodity contracts	(1)		(2)		Other operating expense (income), net
Foreign currency contracts	14		(10)		Other non-operating income (expense), net
Total	$	97	$	1

Accounting Changes	9 Months Ended
Accounting Changes	Jun. 30, 2026
Accounting Changes and Error Corrections [Abstract]
Accounting Changes	Note 3 — Accounting Changes Accounting Standards Not Yet Adopted Environmental Credits and Environmental Credit Obligations. In May 2026, the FASB issued ASU 2026-02, "Environmental Credits and Environmental Credit Obligations (Topic 818)" which provides authoritative guidance for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. This new guidance is effective for the Company for annual and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU should be applied using the modified retrospective method. The Company is in the process of assessing the impact on its financial statements and the period in which the new guidance will be adopted. Interim Reporting: Narrow-Scope Improvements. In December 2025, the FASB issued ASU 2025-11, “Narrow-Scope Improvements (Topic 270)” which clarifies disclosure requirements and applicability for interim financial statements. This new guidance is effective for the Company for interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Targeted Improvements to the Accounting for Internal-Use Software. In September 2025, the FASB issued ASU 2025-06, “Targeted Improvements to the Accounting for Internal-Use Software (Subtopic 350-40)” which, among other things, removes the prescriptive project stage requirements and allows entities to capitalize internal-use software costs when management authorizes and commits funding to the project and it is probable the software will be completed and used as intended. This new guidance is effective for the Company for annual and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective, modified, or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Measurement of Credit Losses for Accounts Receivable and Contract Assets. In July 2025, the FASB issued ASU 2025-05, “Measurement of Credit Losses for Accounts Receivable and Contract Assets (Topic 326)” which provides a practical expedient that allows entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when estimating expected credit losses for current accounts receivable and current contract assets. This new guidance is effective for the Company for annual and interim periods beginning October 1, 2026 (Fiscal 2027). Early adoption is permitted. The amendments in this ASU should be adopted using the prospective method. The Company is in the process of assessing the impact on its financial statements and the period in which the new guidance will be adopted. Disaggregation of Income Statement Expenses. In November 2024, the FASB issued ASU 2024-03, “Disaggregation of Income Statement Expenses (Subtopic 220-40)” which requires enhanced disclosure of income statement expense categories to improve transparency and provide financial statement users with more detailed information about the nature, amount and timing of expenses impacting financial performance. This new guidance is effective for the Company for annual periods beginning October 1, 2027 (Fiscal 2028) and interim periods beginning October 1, 2028 (Fiscal 2029). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company is in the process of assessing the impact on its financial statements and determining the transition method and the period in which the new guidance will be adopted. Improvements to Income Tax Disclosures. In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures (Topic 740)” which requires entities to disclose, among other items, disaggregated information about a reporting entity’s effective tax rate reconciliation and income taxes paid. This new guidance is effective for the Company for annual periods beginning October 1, 2025 (Fiscal 2026). Early adoption is permitted. The amendments in this ASU may be adopted using the prospective or retrospective methods. The Company will adopt the new guidance effective for the year ending September 30, 2026 and provide the additional disclosures as required by the new guidance.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 7
-Subparagraph (i)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period			$ 4,786
Other comprehensive income (loss)	$ 3	$ 87	(9)	$ 72
Balance, end of period	5,222	4,884	5,222	4,884
Total
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(185)	(268)	(173)	(253)
Other comprehensive income (loss) before reclassification adjustments	5	87	(4)	73
Amounts reclassified from AOCI	(2)	0	(5)	(1)
Other comprehensive income (loss)	3	87	(9)	72
Balance, end of period	(182)	(181)	(182)	(181)
Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	23	10	23	10
Other comprehensive income (loss) before reclassification adjustments	0	0	0	0
Amounts reclassified from AOCI	(1)	1	(1)	1
Other comprehensive income (loss)	(1)	1	(1)	1
Balance, end of period	22	11	22	11
Derivative Instruments
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(9)	(13)	(15)	(23)
Other comprehensive income (loss) before reclassification adjustments	7	(2)	16	9
Amounts reclassified from AOCI	(1)	(1)	(4)	(2)
Other comprehensive income (loss)	6	(3)	12	7
Balance, end of period	(3)	(16)	(3)	(16)
Foreign Currency
AOCI Attributable to Parent, Net of Tax
Balance, beginning of period	(199)	(265)	(181)	(240)
Other comprehensive income (loss) before reclassification adjustments	(2)	89	(20)	64
Amounts reclassified from AOCI	0	0	0	0
Other comprehensive income (loss)	(2)	89	(20)	64
Balance, end of period	$ (201)	$ (176)	$ (201)	$ (176)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
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-Section 45
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Reference 52: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)(1)
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-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 62: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Paragraph 1
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-Name Accounting Standards Codification
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Reference 75: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 4
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025
Segment Reporting [Line Items]
Revenues from external customers	$ 1,331	$ 1,394	$ 6,099	$ 6,090
Intersegment revenues	1,331	1,394	6,099	6,090
Cost of sales	758	837	2,957	3,061
Operating and administrative expenses	491	481	1,570	1,524
Depreciation and amortization	138	140	416	416
Income (loss) from equity investees	(1)	0	8	6
Other segment income (loss)	5	(63)	17	(7)
Earnings (loss) before interest expense and income taxes	(52)	(127)	1,181	1,088
Interest expense	(109)	(101)	(331)	(305)
Income tax benefit (expense)	28	65	(166)	(92)
Net income (loss) attributable to UGI	(133)	(163)	684	691
Capital expenditures (including the effects of accruals)	219	220	590	555
Total assets	15,631	15,362	15,631	15,362	$ 15,462
Utilities
Segment Reporting [Line Items]
Segment expense	96	96	307	290
Eliminations
Segment Reporting [Line Items]
Revenues from external customers	0	0	0	0
Intersegment revenues	(28)	(44)	(428)	(320)
Cost of sales	(28)	(44)	(428)	(320)
Operating and administrative expenses	(25)	(24)	(76)	(75)
Depreciation and amortization	0	0	0	0
Income (loss) from equity investees	0		0	0
Other segment income (loss)	(28)	(28)	(86)	(82)
Earnings (loss) before interest expense and income taxes	(3)	(4)	(10)	(7)
Interest expense	3	5	10	8
Income tax benefit (expense)	0	0	0	0
Net income (loss) attributable to UGI	0	1	0	1
Capital expenditures (including the effects of accruals)	0	0	0	0
Total assets	(169)	(381)	(169)	(381)
Eliminations \| Utilities
Segment Reporting [Line Items]
Intersegment revenues	3	12	88	73
Eliminations \| Midstream & Marketing
Segment Reporting [Line Items]
Intersegment revenues	25	32	340	247
Eliminations \| UGI International
Segment Reporting [Line Items]
Intersegment revenues	0	0	0	0
Eliminations \| AmeriGas Propane
Segment Reporting [Line Items]
Intersegment revenues	0	0	0	0
Operating Segments \| Utilities
Segment Reporting [Line Items]
Revenues from external customers	299	275	1,685	1,472
Intersegment revenues	302	287	1,773	1,545
Cost of sales	117	115	859	697
Operating and administrative expenses	100	100	330	311
Depreciation and amortization	47	44	142	132
Income (loss) from equity investees	0		0	0
Other segment income (loss)	2	2	5	7
Earnings (loss) before interest expense and income taxes	40	30	447	412
Interest expense	(29)	(24)	(88)	(75)
Income tax benefit (expense)	(2)	(1)	(81)	(77)
Net income (loss) attributable to UGI	9	5	278	260
Capital expenditures (including the effects of accruals)	150	146	410	352
Total assets	6,742	6,228	6,742	6,228
Operating Segments \| Midstream & Marketing
Segment Reporting [Line Items]
Revenues from external customers	224	246	1,051	985
Intersegment revenues	249	278	1,391	1,232
Cost of sales	159	201	959	815
Operating and administrative expenses	40	32	111	92
Depreciation and amortization	22	20	65	60
Income (loss) from equity investees	(1)		8	7
Other segment income (loss)	3	2	4	4
Earnings (loss) before interest expense and income taxes	30	27	268	276
Interest expense	(15)	(11)	(44)	(35)
Income tax benefit (expense)	(3)	3	(42)	17
Net income (loss) attributable to UGI	12	19	182	258
Capital expenditures (including the effects of accruals)	16	30	38	89
Total assets	3,222	3,188	3,222	3,188
Operating Segments \| UGI International
Segment Reporting [Line Items]
Intersegment revenues	436	437	1,632	1,725
Cost of sales	250	245	864	967
Operating and administrative expenses	126	129	401	405
Depreciation and amortization	27	31	82	89
Income (loss) from equity investees	0		0	(1)
Other segment income (loss)	8	11	12	33
Earnings (loss) before interest expense and income taxes	41	43	297	296
Interest expense	(11)	(13)	(33)	(34)
Income tax benefit (expense)	(12)	6	(40)	(33)
Net income (loss) attributable to UGI	18	36	224	229
Capital expenditures (including the effects of accruals)	26	24	56	55
Total assets	2,833	3,191	2,833	3,191
Operating Segments \| AmeriGas Propane
Segment Reporting [Line Items]
Intersegment revenues	372	434	1,731	1,909
Cost of sales	171	207	733	889
Operating and administrative expenses	220	220	723	713
Depreciation and amortization	42	45	127	135
Income (loss) from equity investees	0		0	0
Other segment income (loss)	8	10	27	28
Earnings (loss) before interest expense and income taxes	(53)	(28)	175	200
Interest expense	(35)	(36)	(110)	(106)
Income tax benefit (expense)	26	101	(18)	(78)
Net income (loss) attributable to UGI	(62)	37	47	16
Capital expenditures (including the effects of accruals)	27	20	86	59
Total assets	2,821	2,964	2,821	2,964
Corporate & Other
Segment Reporting [Line Items]
Revenues from external customers	0	2	0	(1)
Cost of sales	89	113	(30)	13
Operating and administrative expenses	30	24	81	78
Depreciation and amortization	0	0	0	0
Income (loss) from equity investees	0		0	0
Other segment income (loss)	12	(60)	55	3
Earnings (loss) before interest expense and income taxes	(107)	(195)	4	(89)
Interest expense	(22)	(22)	(66)	(63)
Income tax benefit (expense)	19	(44)	15	79
Net income (loss) attributable to UGI	(110)	(261)	(47)	(73)
Capital expenditures (including the effects of accruals)	0	0	0	0
Total assets	182	172	182	172
Intersegment revenues Corporate & Other
Segment Reporting [Line Items]
Intersegment revenues	$ 0	$ 0	$ 0	$ 0

Segment Information - Schedule of Reconciliation of Partnership Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments			$ 55	$ (30)
Loss on extinguishments of debt	$ (15)	$ (10)	(15)	(10)
Net gain (loss) on disposals of businesses	(7)	(54)	(42)	(54)
Midstream & Marketing
Segment Reporting [Line Items]
Loss on extinguishments of debt	(2)	0	(2)	0
Net gain (loss) on disposals of businesses	0	0	0	0
Restructuring costs	0		0
Interest income from intersegment loan	0	0	0	0
Midstream & Marketing \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	0	(59)	(28)	26
Midstream & Marketing \| Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	0	0	0	0
Midstream & Marketing \| Income Statement Location [Axis]: us-gaap:OtherOperatingIncomeExpenseNet
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	0	0	0
Midstream & Marketing \| Income Statement Location [Axis]: us-gaap:Revenues
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments		1		(1)
UGI International
Segment Reporting [Line Items]
Loss on extinguishments of debt	0	0	0	0
Net gain (loss) on disposals of businesses	(7)	(54)	(42)	(54)
Restructuring costs	0		0
Interest income from intersegment loan	2	5	10	8
UGI International \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	(76)	(50)	54	(46)
UGI International \| Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	7	(25)	23	(16)
UGI International \| Income Statement Location [Axis]: us-gaap:OtherOperatingIncomeExpenseNet
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	(2)	(1)	2
UGI International \| Income Statement Location [Axis]: us-gaap:Revenues
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments		0		0
AmeriGas Propane
Segment Reporting [Line Items]
Loss on extinguishments of debt	(13)	(9)	(13)	(9)
Net gain (loss) on disposals of businesses	0	0	0	0
Restructuring costs	(2)		(2)
Interest income from intersegment loan	0	0	0	0
AmeriGas Propane \| Income Statement Location [Axis]: us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	(13)	(3)	4	7
AmeriGas Propane \| Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	0	0	0	0
AmeriGas Propane \| Income Statement Location [Axis]: us-gaap:OtherOperatingIncomeExpenseNet
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments	$ 0	0	$ 0
AmeriGas Propane \| Income Statement Location [Axis]: us-gaap:Revenues
Segment Reporting [Line Items]
Net gains (losses) on commodity derivative instruments		$ 0		$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 476	$ 335	$ 350
Restricted cash	47	20	20
Accounts receivable (less allowances for doubtful accounts of $54, $42 and $73, respectively)	768	714	825
Accrued utility revenues	27	35	39
Income taxes receivable	42	41	44
Inventories	352	385	359
Derivative instruments	33	23	8
Held for sale assets	351	9	15
Prepaid expenses and other current assets	178	204	139
Total current assets	2,274	1,766	1,799
Property, plant and equipment, net (less accumulated depreciation of $5,253, $5,270 and $5,220, respectively)	8,864	9,080	8,934
Goodwill	2,780	2,852	2,888
Intangible assets, net	289	328	343
Derivative instruments	10	7	8
Other assets	1,414	1,429	1,390
Total assets	15,631	15,462	15,362
Current liabilities:
Current maturities of long-term debt	18	117	905
Short-term borrowings	336	486	366
Accounts payable	433	511	484
Derivative instruments	32	57	43
Held for sale liabilities	104	0	0
Other current liabilities	657	810	754
Total current liabilities	1,580	1,981	2,552
Long-term debt	6,695	6,531	5,683
Deferred income taxes	1,048	973	1,015
Derivative instruments	11	23	39
Other noncurrent liabilities	1,075	1,168	1,189
Total liabilities	10,409	10,676	10,478
Commitments and contingencies (Note 9)
UGI Corporation stockholders’ equity:
UGI Common Stock, without par value (authorized — 450,000,000 shares; issued — 217,706,132, 217,033,282 and 216,929,085 shares, respectively)	1,736	1,709	1,703
Retained earnings	3,777	3,334	3,428
Accumulated other comprehensive income (loss)	(182)	(173)	(181)
Treasury stock, at cost	(118)	(93)	(76)
Total UGI Corporation stockholders’ equity	5,213	4,777	4,874
Noncontrolling interests	9	9	10
Total equity	5,222	4,786	4,884
Total liabilities and equity	$ 15,631	$ 15,462	$ 15,362

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 1,331	$ 1,394	$ 6,099	$ 6,090
Costs and expenses:
Cost of sales (excluding depreciation and amortization shown below)	758	837	2,957	3,061
Operating and administrative expenses	491	481	1,570	1,524
Depreciation and amortization	138	140	416	416
Net loss (gain) on disposals of businesses	7	54	42	54
Other operating expense (income), net	(19)	(25)	(54)	(59)
Costs and expenses	1,375	1,487	4,931	4,996
Operating income (loss)	(44)	(93)	1,168	1,094
Income (loss) from equity investees	(1)	0	8	6
Loss on extinguishments of debt	(15)	(10)	(15)	(10)
Other non-operating income (expense), net	8	(24)	20	(2)
Interest expense	(109)	(101)	(331)	(305)
Income (loss) before income taxes	(161)	(228)	850	783
Income tax benefit (expense)	28	65	(166)	(92)
Net income (loss) attributable to UGI Corporation	$ (133)	$ (163)	$ 684	$ 691
Earnings (loss) per common share attributable to UGI Corporation stockholders:
Basic (in USD per share)	$ (0.62)	$ (0.76)	$ 3.18	$ 3.22
Diluted (in USD per share)	$ (0.62)	$ (0.76)	$ 3.08	$ 3.16
Weighted-average common shares outstanding (thousands):
Basic (in shares)	214,690	214,813	214,789	214,896
Diluted (in shares)	214,690	214,813	221,787	218,423

Inventories

9 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Inventories

Note 6 — Inventories

Inventories comprise the following:


	June 30, 2026		September 30, 2025		June 30, 2025
Non-utility LPG and natural gas	$	160	$	162	$	159
Gas Utility natural gas	35		67		38
Energy certificates	57		64		64
Materials, supplies and other	100		92		98
Total inventories	$	352	$	385	$	359

Revenue from Contracts with Customers

9 Months Ended

Jun. 30, 2026

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 2025 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, 2026	Total		Eliminations (a)		Utilities		Midstream & Marketing		UGI International		AmeriGas Propane		Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential	$	169	$	—	$	169	$	—	$	—	$	—	$	—
Commercial & Industrial	65		—		65		—		—		—		—
Large delivery service	39		—		39		—		—		—		—
Off-system sales and capacity releases	10		(2)		12		—		—		—		—
Other	11		(1)		12		—		—		—		—
Total Utility	294		(3)		297		—		—		—		—
Non-Utility:
LPG:
Retail	679		—		—		—		362		317		—
Wholesale	41		—		—		—		40		1		—
Energy Marketing	171		(19)		—		182		8		—		—
Midstream:
Pipeline	52		—		—		52		—		—		—
Peaking	2		(6)		—		8		—		—		—
Other	6		—		—		6		—		—		—
Other	54		—		—		—		16		38		—
Total Non-Utility	1,005		(25)		—		248		426		356		—
Total revenues from contracts with customers	1,299		(28)		297		248		426		356		—
Other revenues (b)	32		—		5		1		10		16		—
Total revenues	$	1,331	$	(28)	$	302	$	249	$	436	$	372	$	—


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 & Industrial	61		—		61		—		—		—		—
Large delivery service	40		—		40		—		—		—		—
Off-system sales and capacity releases	13		(11)		24		—		—		—		—
Other	7		(1)		8		—		—		—		—
Total Utility	272		(12)		284		—		—		—		—
Non-Utility:
LPG:
Retail	724		—		—		—		360		364		—
Wholesale	44		—		—		—		34		10		—
Energy Marketing	198		(27)		—		213		12		—		—
Midstream:
Pipeline	53		—		—		53		—		—		—
Peaking	1		(5)		—		6		—		—		—
Other	6		—		—		6		—		—		—
Other	62		—		—		—		21		41		—
Total Non-Utility	1,088		(32)		—		278		427		415		—
Total revenues from contracts with customers	1,360		(44)		284		278		427		415		—
Other revenues (b)	34		—		3		—		10		19		2
Total revenues	$	1,394	$	(44)	$	287	$	278	$	437	$	434	$	2


Nine Months Ended June 30, 2026	Total		Eliminations (a)		Utilities		Midstream & Marketing		UGI International		AmeriGas Propane		Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential	$	1,029	$	—	$	1,029	$	—	$	—	$	—	$	—
Commercial & Industrial	410		—		410		—		—		—		—
Large delivery service	151		—		151		—		—		—		—
Off-system sales and capacity releases	93		(86)		179		—		—		—		—
Other	19		(2)		21		—		—		—		—
Total Utility	1,702		(88)		1,790		—		—		—		—
Non-Utility:
LPG:
Retail	2,926		—		—		—		1,398		1,528		—
Wholesale	149		—		—		—		124		25		—
Energy Marketing	863		(227)		—		1,061		29		—		—
Midstream:
Pipeline	159		—		—		159		—		—		—
Peaking	37		(113)		—		150		—		—		—
Other	20		—		—		20		—		—		—
Other	174		—		—		—		49		125		—
Total Non-Utility	4,328		(340)		—		1,390		1,600		1,678		—
Total revenues from contracts with customers	6,030		(428)		1,790		1,390		1,600		1,678		—
Other revenues (b)	69		—		(17)		1		32		53		—
Total revenues	$	6,099	$	(428)	$	1,773	$	1,391	$	1,632	$	1,731	$	—

























































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 & Industrial	342		—		342		—		—		—		—
Large delivery service	156		—		156		—		—		—		—
Off-system sales and capacity releases	66		(72)		138		—		—		—		—
Other	23		(1)		24		—		—		—		—
Total Utility	1,448		(73)		1,521		—		—		—		—
Non-Utility:
LPG:
Retail	3,108		—		—		—		1,462		1,646		—
Wholesale	194		—		—		—		127		67		—
Energy Marketing	820		(140)		—		914		46		—		—
Midstream:
Pipeline	170		—		—		170		—		—		—
Peaking	25		(107)		—		132		—		—		—
Other	16		—		—		16		—		—		—
Other	200		—		—		—		60		140		—
Total Non-Utility	4,533		(247)		—		1,232		1,695		1,853		—
Total revenues from contracts with customers	5,981		(320)		1,521		1,232		1,695		1,853		—
Other revenues (b)	109		—		24		—		30		56		(1)
Total revenues	$	6,090	$	(320)	$	1,545	$	1,232	$	1,725	$	1,909	$	(1)

(a)Includes intersegment revenues principally among Midstream & Marketing and Utilities.

(b)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 Gas Utility; 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 $100, $132 and $110 at June 30, 2026, September 30, 2025 and June 30, 2025, 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, 2026 and 2025, from the amounts included in contract liabilities at September 30, 2025 and 2024, were $92 and $99, 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, 2026, the Company expects to record approximately $1.2 billion of revenues related to the minimum future performance obligations over the remaining terms of the related contracts.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Segment Information

9 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Information

Note 13 — Segment Information

Our operations comprise four reportable segments generally based upon products or services sold, geographic location and regulatory environment: (1) Utilities; (2) Midstream & Marketing; (3) UGI International; and (4) AmeriGas Propane.

Corporate & Other includes UGI’s certain corporate and general expenses as well as interest expense that is not allocated to its reportable segments. Corporate & Other also includes certain items that are excluded from our CODM’s assessment of segment performance (see below for further details on these items).

The accounting policies of our reportable segments are the same as those described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s 2025 Annual Report. Our Chief Executive Officer, who serves as the CODM, measures segment profitability based on “earnings before interest expense and income taxes.” The CODM uses this financial metric by comparing current period results to budgeted and prior year results at the reportable segment level to assess the segment performance and to allocate resources between the segments.

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	$	—

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Sep. 30, 2025
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 100	$ 110	$ 132
Revenue recognized	92	$ 99
Midstream & Marketing
Disaggregation of Revenue [Line Items]
Expected revenue	$ 1,200

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Summary of Significant Accounting Policies - Schedule of Cash and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025	Sep. 30, 2024
Accounting Policies [Abstract]
Cash and cash equivalents	$ 476	$ 335	$ 350
Restricted cash	47	20	20
Cash, cash equivalents and restricted cash	$ 523	$ 355	$ 370	$ 228

- Definition

Amount of cash and cash equivalent restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.

+ References + Details

Summary of Significant Accounting Policies

9 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 — Summary of Significant Accounting Policies

The accompanying condensed consolidated financial statements and footnotes are unaudited and have been prepared in accordance with GAAP and the rules and regulations of the SEC. They include all adjustments that we consider necessary for a fair statement of the results for the interim periods presented. Such adjustments consisted only of normal recurring items unless otherwise disclosed. The September 30, 2025, Condensed Consolidated Balance Sheet was derived from audited financial statements but does not include all footnote disclosures from the annual financial statements.

These financial statements should be read in conjunction with the financial statements and related notes included in the Company’s 2025 Annual Report. Due to the seasonal nature of our businesses, the results of operations for interim periods are not necessarily indicative of the results to be expected for a full year.

Restricted Cash. Restricted cash principally represents those cash balances in our commodity futures brokerage accounts that are restricted from withdrawal. The following table provides a reconciliation of the total cash, cash equivalents and restricted cash reported on the Condensed Consolidated Balance Sheets to the corresponding amounts reported on the Condensed Consolidated Statements of Cash Flows.


	June 30, 2026		June 30, 2025
Cash and cash equivalents	$	476	$	350
Restricted cash	47		20
Cash, cash equivalents and restricted cash	$	523	$	370

Earnings Per Common Share. Basic earnings per share attributable to UGI Corporation stockholders reflect the weighted-average number of common shares outstanding. Diluted earnings per share attributable to UGI Corporation stockholders include the effects of dilutive stock options, common stock awards, and UGI Corporation Senior Notes. Shares used in computing basic and diluted earnings per share are as follows:


	Three Months Ended June 30,		Nine Months Ended June 30,
	2026	2025	2026	2025
Denominator (thousands of shares):
Weighted-average common shares outstanding — basic	214,690	214,813	214,789	214,896
Incremental shares issuable for stock options, and common stock awards(a)	—	—	1,048	746
UGI Corporation Senior Notes (a) (b)	—	—	5,950	2,781
Weighted-average common shares outstanding — diluted	214,690	214,813	221,787	218,423

(b)See Note 8 for additional information on the UGI Corporation Senior Notes.

Derivative Instruments. Derivative instruments are reported on the Condensed Consolidated Balance Sheets at their fair values, unless the NPNS exception is elected. The accounting for changes in fair value depends upon the purpose of the derivative instrument, whether it is subject to regulatory ratemaking mechanisms or if it qualifies and is designated as a hedge for accounting purposes.

Certain of our derivative instruments qualify and are designated as cash flow hedges. For cash flow hedges, changes in the fair values of the derivative instruments are recorded in 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 occurrence of the forecasted transaction is determined to be no longer probable. Hedge accounting is also discontinued for derivatives that cease to be highly effective. We do not designate our commodity and certain foreign currency derivative instruments as hedges under GAAP. Changes in the fair values of these derivative instruments are reflected in net income. Gains and losses on substantially all of the commodity derivative instruments used by Utilities are included in regulatory assets or liabilities because it is probable such gains or losses will be recoverable from, or refundable to, customers. From time to time, we also enter into net investment hedges. Gains and losses on net investment hedges that relate to our foreign operations are included in the cumulative translation adjustment component in AOCI until such foreign net investment is substantially sold or liquidated.

Cash flows from derivative instruments, other than certain net investment hedges, are included in cash flows from operating activities on the Condensed Consolidated Statements of Cash Flows. Cash flows from net investment hedges are included in cash flows from investing activities on the Condensed Consolidated Statements of Cash Flows.

See Note 11 for a more detailed description of the derivative instruments we use, our accounting for derivatives, our objectives for using them and other information.

Use of Estimates. 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.

Goodwill. We do not amortize goodwill, but test it at least annually for impairment at the reporting unit level. A reporting unit is an operating segment, or one level below an operating segment (a component) if it constitutes a business for which discrete financial information is available and regularly reviewed by segment management. Components are aggregated into a single

reporting unit if they have similar economic characteristics. Each of our reporting units with goodwill is required to perform impairment tests annually or whenever events or circumstances indicate that the value of goodwill may be impaired.

With respect to AmeriGas Propane's Fiscal 2025 goodwill impairment test, the Company performed a quantitative assessment. Based on our evaluation, we determined that AmeriGas Propane’s fair value exceeded its carrying value by more than 25%. While the Company believes that its judgments used in the quantitative assessment of AmeriGas Propane’s fair value are reasonable based upon currently available facts and circumstances, if AmeriGas Propane were not able to achieve its anticipated results and/or if its discount rate were to increase, its fair value would be adversely affected, which may result in an impairment. There was $1.1 billion of goodwill in the AmeriGas Propane reporting unit as of June 30, 2026.

The Company will continue to monitor its reporting units and related goodwill for any possible future non-cash impairment charges.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income attributable to UGI Corporation	$ 684	$ 691
Adjustments to reconcile net income attributable to UGI Corporation to net cash provided by operating activities:
Depreciation and amortization	416	416
Deferred income tax expense (benefit), net	95	16
Provision for uncollectible accounts	43	41
Changes in unrealized gains and losses on derivative instruments	(55)	30
Net loss (gain) on disposals of businesses	42	54
Loss on extinguishments of debt	15	10
Loss (income) from equity investees	(8)	(6)
Other, net	(26)	(14)
Net change in:
Accounts receivable and accrued utility revenues	(143)	(137)
Income taxes receivable	(1)	12
Inventories	10	58
Utility deferred fuel costs, net of changes in unsettled derivatives	(31)	(23)
Accounts payable	(15)	(29)
Derivative instruments collateral deposits received (paid)	18	4
Other current assets	53	57
Other current liabilities	(125)	(43)
Net cash provided by operating activities	972	1,137
CASH FLOWS FROM INVESTING ACTIVITIES
Expenditures for property, plant and equipment	(617)	(579)
Net proceeds from the disposition of businesses and assets	152	107
Investments in equity method investees	(4)	(26)
Settlements of net investment hedges	0	(4)
Other, net	0	3
Net cash provided (used) by investing activities	(469)	(499)
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends on Common Stock	(241)	(241)
Issuances of debt, net of discount and issuance costs	1,277	1,553
Repayments of long-term debt and finance leases, including redemption premiums	(1,205)	(1,707)
Short-term borrowings (repayments), net	(149)	(108)
Issuances of Common Stock	15	15
Repurchases of Common Stock	(23)	(17)
Net cash provided (used) by financing activities	(326)	(505)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(9)	9
Cash, cash equivalents and restricted cash increase (decrease)	168	142
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash, cash equivalents and restricted cash at end of period	523	370
Cash, cash equivalents and restricted cash at beginning of period	355	228
Cash, cash equivalents and restricted cash increase (decrease)	$ 168	$ 142

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net gains (losses) on derivative instruments tax	$ (3)	$ 0	$ (6)	$ (3)
Reclassifications of net losses (gains) on derivative instruments tax	0	1	1	1
Foreign currency adjustments tax	(4)	24	(8)	15
Benefit plans tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2026	Sep. 30, 2025	Jun. 30, 2025
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 54	$ 42	$ 73
Accumulated depreciation	$ 5,253	$ 5,270	$ 5,220
Common Stock, shares authorized (in shares)	450,000,000	450,000,000	450,000,000
Common Stock, shares issued (in shares)	217,706,132	217,033,282	216,929,085

- Definition

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References + Details

Inventories (Tables)

9 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Schedule of Components of Inventories

Inventories comprise the following:


	June 30, 2026		September 30, 2025		June 30, 2025
Non-utility LPG and natural gas	$	160	$	162	$	159
Gas Utility natural gas	35		67		38
Energy certificates	57		64		64
Materials, supplies and other	100		92		98
Total inventories	$	352	$	385	$	359

Revenue from Contracts with Customers (Tables)

9 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregated Revenues by Reportable Segment

The following tables present our disaggregated revenues by reportable segment:


Three Months Ended June 30, 2026	Total		Eliminations (a)		Utilities		Midstream & Marketing		UGI International		AmeriGas Propane		Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential	$	169	$	—	$	169	$	—	$	—	$	—	$	—
Commercial & Industrial	65		—		65		—		—		—		—
Large delivery service	39		—		39		—		—		—		—
Off-system sales and capacity releases	10		(2)		12		—		—		—		—
Other	11		(1)		12		—		—		—		—
Total Utility	294		(3)		297		—		—		—		—
Non-Utility:
LPG:
Retail	679		—		—		—		362		317		—
Wholesale	41		—		—		—		40		1		—
Energy Marketing	171		(19)		—		182		8		—		—
Midstream:
Pipeline	52		—		—		52		—		—		—
Peaking	2		(6)		—		8		—		—		—
Other	6		—		—		6		—		—		—
Other	54		—		—		—		16		38		—
Total Non-Utility	1,005		(25)		—		248		426		356		—
Total revenues from contracts with customers	1,299		(28)		297		248		426		356		—
Other revenues (b)	32		—		5		1		10		16		—
Total revenues	$	1,331	$	(28)	$	302	$	249	$	436	$	372	$	—


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 & Industrial	61		—		61		—		—		—		—
Large delivery service	40		—		40		—		—		—		—
Off-system sales and capacity releases	13		(11)		24		—		—		—		—
Other	7		(1)		8		—		—		—		—
Total Utility	272		(12)		284		—		—		—		—
Non-Utility:
LPG:
Retail	724		—		—		—		360		364		—
Wholesale	44		—		—		—		34		10		—
Energy Marketing	198		(27)		—		213		12		—		—
Midstream:
Pipeline	53		—		—		53		—		—		—
Peaking	1		(5)		—		6		—		—		—
Other	6		—		—		6		—		—		—
Other	62		—		—		—		21		41		—
Total Non-Utility	1,088		(32)		—		278		427		415		—
Total revenues from contracts with customers	1,360		(44)		284		278		427		415		—
Other revenues (b)	34		—		3		—		10		19		2
Total revenues	$	1,394	$	(44)	$	287	$	278	$	437	$	434	$	2


Nine Months Ended June 30, 2026	Total		Eliminations (a)		Utilities		Midstream & Marketing		UGI International		AmeriGas Propane		Corporate & Other
Revenues from contracts with customers:
Utility:
Core Market:
Residential	$	1,029	$	—	$	1,029	$	—	$	—	$	—	$	—
Commercial & Industrial	410		—		410		—		—		—		—
Large delivery service	151		—		151		—		—		—		—
Off-system sales and capacity releases	93		(86)		179		—		—		—		—
Other	19		(2)		21		—		—		—		—
Total Utility	1,702		(88)		1,790		—		—		—		—
Non-Utility:
LPG:
Retail	2,926		—		—		—		1,398		1,528		—
Wholesale	149		—		—		—		124		25		—
Energy Marketing	863		(227)		—		1,061		29		—		—
Midstream:
Pipeline	159		—		—		159		—		—		—
Peaking	37		(113)		—		150		—		—		—
Other	20		—		—		20		—		—		—
Other	174		—		—		—		49		125		—
Total Non-Utility	4,328		(340)		—		1,390		1,600		1,678		—
Total revenues from contracts with customers	6,030		(428)		1,790		1,390		1,600		1,678		—
Other revenues (b)	69		—		(17)		1		32		53		—
Total revenues	$	6,099	$	(428)	$	1,773	$	1,391	$	1,632	$	1,731	$	—

























































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 & Industrial	342		—		342		—		—		—		—
Large delivery service	156		—		156		—		—		—		—
Off-system sales and capacity releases	66		(72)		138		—		—		—		—
Other	23		(1)		24		—		—		—		—
Total Utility	1,448		(73)		1,521		—		—		—		—
Non-Utility:
LPG:
Retail	3,108		—		—		—		1,462		1,646		—
Wholesale	194		—		—		—		127		67		—
Energy Marketing	820		(140)		—		914		46		—		—
Midstream:
Pipeline	170		—		—		170		—		—		—
Peaking	25		(107)		—		132		—		—		—
Other	16		—		—		16		—		—		—
Other	200		—		—		—		60		140		—
Total Non-Utility	4,533		(247)		—		1,232		1,695		1,853		—
Total revenues from contracts with customers	5,981		(320)		1,521		1,232		1,695		1,853		—
Other revenues (b)	109		—		24		—		30		56		(1)
Total revenues	$	6,090	$	(320)	$	1,545	$	1,232	$	1,725	$	1,909	$	(1)

(a)Includes intersegment revenues principally among Midstream & Marketing and Utilities.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 — Commitments and Contingencies Environmental Matters UGI Utilities 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. By the early 1950s, UGI Utilities divested all of its utility operations other than certain gas and electric operations. Beginning in 2006 and 2008, UGI Utilities also owned and operated two acquired subsidiaries, with similar histories of owning, and in some cases operating, MGPs in Pennsylvania. UGI Utilities is subject to a COA with the PADEP to address the remediation of specified former MGP sites in Pennsylvania, which is scheduled to terminate at the end of 2035. In accordance with the COA, UGI Utilities is required to either obtain a certain number of points per calendar year based on defined eligible environmental investigatory and/or remedial activities at the MGPs, or make expenditures for such activities in an amount equal to an annual environmental minimum expenditure threshold. The annual minimum expenditure threshold of the COA is $5. At June 30, 2026, September 30, 2025 and June 30, 2025, our aggregate estimated accrued liabilities for environmental investigation and remediation costs related to the COA totaled $66, $63 and $53, respectively. We do not expect the costs for investigation and remediation of hazardous substances at Pennsylvania MGP sites to be material to UGI Utilities’ results of operations because UGI Utilities receives ratemaking recovery of actual environmental investigation and remediation costs associated with the sites covered by the COA. This ratemaking recognition reconciles the accumulated difference between historical costs and rate recoveries with an estimate of future costs associated with the sites. As such, UGI Utilities has recorded an associated regulatory asset for these costs because recovery of these costs from customers is probable (see Note 7). From time to time, UGI Utilities is notified of sites outside Pennsylvania on which private parties allege MGPs were formerly owned or operated by UGI Utilities or owned or operated by a former subsidiary. 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 a former subsidiary 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. Neither the undiscounted nor the accrued liability for environmental investigation and cleanup costs for UGI Utilities’ MGP sites outside Pennsylvania were material for all periods presented. AmeriGas Propane AmeriGas OLP Saranac Lake. In 2008, the NYDEC notified AmeriGas OLP that the NYDEC had placed property purportedly owned by AmeriGas OLP in Saranac Lake, New York on the New York State Registry of Inactive Hazardous Waste Disposal Sites. A site characterization study performed by the NYDEC disclosed contamination related to a former MGP. AmeriGas OLP responded to the NYDEC in 2009 to dispute the contention it was a PRP as it did not operate the MGP and appeared to only own a portion of the site. In 2017, the NYDEC communicated to AmeriGas OLP that the NYDEC had previously issued three RODs related to remediation of the site totaling approximately $28 and requested additional information regarding AmeriGas OLP’s purported ownership. AmeriGas OLP renewed its challenge to designation as a PRP and identified potential defenses. The NYDEC subsequently identified a third party PRP with respect to the site. The NYDEC commenced implementation of the remediation plan in the spring of 2018. In Fiscal 2024, the NYDEC informed AmeriGas OLP that the remediation plan had been completed at a total cost of approximately $19. The New York Office of the Attorney General, as counsel for the NYDEC, invited AmeriGas OLP to participate in settlement discussions. We have a settlement agreement in principle that is being finalized. Other Matters West Reading, Pennsylvania Explosion. On March 24, 2023, an explosion occurred in West Reading, Pennsylvania which resulted in seven fatalities, injuries to at least ten others, and extensive property damage to buildings owned by R.M. Palmer, a local chocolate manufacturer, and neighboring structures. The NTSB and PAPUC investigated the West Reading incident. The NTSB investigative team included representatives from the Company, the local fire department and the Pipeline and Hazardous Materials Safety Administration. The Company cooperated with the investigations. In September 2023, OSHA closed their investigation of this matter, without any finding pertaining to UGI Utilities. On December 10, 2024, the NTSB staff presented its draft findings to the NTSB Board. On April 8, 2025, the NTSB released its final report concluding that a fracture in an R.M. Palmer steam pipe created elevated underground temperatures that caused thermal degradation of a UGI Utilities service tee, resulting in a natural gas leak, and recommended UGI Utilities inventory and address risks to plastic gas assets in high-temperature environments. On March 18, 2026, the PAPUC filed a formal complaint against UGI Utilities. The complaint alleges various pipeline safety violations and seeks civil penalties. The Company is vigorously defending against the allegations in the complaint. The Company does not believe the resolution of this matter will have a material adverse effect on its financial condition, results of operations, or cash flows. The Company also has received claims as a result of the explosion and is involved in lawsuits relative to the incident. With the issuance of the final NTSB report, discovery in the litigation has begun. The Company maintains liability insurance for personal injury, property and casualty damages and believes that third-party claims associated with the explosion, in excess of the Company’s deductible, are recoverable through the Company’s insurance. The Company cannot predict the result of these pending or future claims and legal actions at this time. Regarding these pending claims and legal actions, other than as disclosed above, the Company does not believe, at this early stage, that there is sufficient information available to reasonably estimate a range of loss, if any, or conclude that the final outcome of all of these matters will or will not have a material adverse effect on our financial statements. In addition to the matters described above, there are other pending claims and legal actions arising in the normal course of our businesses. Although we cannot predict the final results of these pending claims and legal actions, including those described above, we believe, after consultation with counsel, that the final outcome of these matters will not have a material effect on our financial statements.

Dispositions (Tables)

9 Months Ended

Jun. 30, 2026

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Dispositions

The major classes of assets and liabilities of the Electric Utility business which are held for sale at June 30, 2026 are as follows:


Held for sale assets:
Property, plant and equipment, net	$	284
Other current and noncurrent assets	64
Total held for sale assets	$	348

Held for sale liabilities:
Deferred income tax liabilities	$	48
Regulatory liabilities	28
Other current and noncurrent liabilities	28
Total held for sale liabilities	$	104

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income (loss) attributable to UGI Corporation	$ (133)	$ (163)	$ 684	$ 691
Other comprehensive income (loss):
Net gains (losses) on derivative instruments (net of tax of $(3), $0, $(6) and $(3), respectively)	7	(2)	16	9
Reclassifications of net losses (gains) on derivative instruments (net of tax of $0, $1, $1 and $1, respectively)	(1)	(1)	(4)	(2)
Foreign currency adjustments (net of tax of $(4), $24, $(8) and $15, respectively)	(2)	89	(20)	64
Benefit plans (net of tax of $0, $0, $0 and $0, respectively)	(1)	1	(1)	1
Other comprehensive income (loss)	3	87	(9)	72
Comprehensive income (loss) attributable to UGI Corporation	$ (130)	$ (76)	$ 675	$ 763

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Segment Information (Tables)

9 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

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.

(c)Excluding Corporate & Other, other segment items principally represent other operating and non-operating income and expenses.



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	$	—

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Jun. 30, 2026

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 12 — Accumulated Other Comprehensive Income (Loss)

The tables below present changes in AOCI, net of tax:


Three Months Ended June 30, 2026	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — March 31, 2026	$	23	$	(9)	$	(199)	$	(185)
Other comprehensive income (loss) before reclassification adjustments	—		7		(2)		5
Amounts reclassified from AOCI	(1)		(1)		—		(2)
Other comprehensive income (loss) attributable to UGI	(1)		6		(2)		3
AOCI — June 30, 2026	$	22	$	(3)	$	(201)	$	(182)

Three Months Ended June 30, 2025	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — March 31, 2025	$	10	$	(13)	$	(265)	$	(268)
Other comprehensive income (loss) before reclassification adjustments	—		(2)		89		87
Amounts reclassified from AOCI	1		(1)		—		—
Other comprehensive income (loss) attributable to UGI	1		(3)		89		87
AOCI — June 30, 2025	$	11	$	(16)	$	(176)	$	(181)

Nine Months Ended June 30, 2026	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — September 30, 2025	$	23	$	(15)	$	(181)	$	(173)
Other comprehensive income (loss) before reclassification adjustments	—		16		(20)		(4)
Amounts reclassified from AOCI	(1)		(4)		—		(5)
Other comprehensive income (loss) attributable to UGI	(1)		12		(20)		(9)
AOCI — June 30, 2026	$	22	$	(3)	$	(201)	$	(182)

Nine Months Ended June 30, 2025	Postretirement Benefit Plans		Derivative Instruments		Foreign Currency		Total
AOCI — September 30, 2024	$	10	$	(23)	$	(240)	$	(253)
Other comprehensive income (loss) before reclassification adjustments	—		9		64		73
Amounts reclassified from AOCI	1		(2)		—		(1)
Other comprehensive income (loss) attributable to UGI	1		7		64		72
AOCI — June 30, 2025	$	11	$	(16)	$	(176)	$	(181)