UGI Corporation (the \”Company\”) is filing this Current Report on Form 8-K to recast certain financial information previously included in the Company\’s Annual Report on Form 10-K for the fiscal year ended September 30, 2018 filed with the Securities and Exchange Commission on November 20, 2018 (the \”2018 Annual Report\”). The recast financial information reflects the presentation of the retrospective application of new accounting guidance the Company adopted, effective October 1, 2018, pertaining to certain net periodic pension and other postretirement benefit costs and restricted cash.

Accounting Standards Update (\”ASU\”) 2017-07, \”Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost,\” requires entities to disaggregate the service cost component from the other components of net periodic benefit cost and present it with compensation costs for related employees in the income statement. The other components are required to be presented elsewhere in the income statement and outside of income from operations. The amendments in this ASU permit only the service cost component to be eligible for capitalization, when applicable. For entities subject to rate regulation, including UGI Utilities, Inc., the ASU 2017-07 recognized that, in the event a regulator continues to require capitalization of all net periodic benefit costs prospectively, the difference would result in the recognition of a regulatory asset or liability.

ASU 2016-18, \”Statement of Cash Flows: Restricted Cash,\” requires that a statement of cash flows explains the changes during the period in the totals of cash and cash equivalents, as well as restricted cash or restricted cash equivalents. As a result, amounts generally described as restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts on the statement of cash flows.

The recast items of the Company\’s 2018 Annual Report described above have been updated only for the aforementioned adoption of the ASUs and no other changes have been made. This Current Report on Form 8-K should be read in conjunction with the Company\’s 2018 Annual Report (except for Items 6, 7 and 8, which are included in this Current Report on Form 8-K), Quarterly Report on Form 10-Q for the quarter ended December 31, 2018 and Current Reports on Form 8-K filed during this period.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are being filed herewith:

EXHIBIT INDEX

The Following Exhibits Are Filed:

UGI CORP /PA/ Exhibit
EX-23 2 ugi8-kex23revised201810xk.htm EXHIBIT 23 Exhibit EXHIBIT 23Consent of Independent Registered Public Accounting FirmWe consent to the incorporation by reference in the following Registration Statements: 1)Registration Statement (Form S-8 No. 333-186178) pertaining to the 2013 Omnibus Incentive Compensation Plan of UGI Corporation;2)Registration Statement (Form S-8 No. 333-167099) pertaining to the Savings Plan of UGI HVAC Enterprises,…
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About UGI Corporation (NYSE:UGI)

UGI Corporation is a holding company. The Company distributes, stores, transports and markets energy products and related services. It operates through six segments. The AmeriGas Propane segment consists of the propane distribution business of AmeriGas Partners, L.P. The UGI France segment consists of the French LPG distribution business of its subsidiaries, Antargaz, Finagaz and its liquefied petroleum gases (LPG) distribution businesses. The Flaga & Other segment consists of the LPG distribution businesses of Flaga GmbH, AvantiGas Limited and ChinaGas Partners, L.P. The Energy Services segment consists of energy-related businesses conducted by its subsidiary, UGI Energy Services, LLC (Energy Services). The Electric Generation segment consists of electric generation facilities conducted by Energy Services’ subsidiary. The Gas Utility segment consists of the regulated natural gas distribution businesses of its subsidiary, UGI Utilities, Inc.