<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM U-3A-2 File No. 69-00410
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2
FROM THE PROVISIONS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935
To Be Filed Annually Prior to March 1
UGI CORPORATION
460 NORTH GULPH ROAD
KING OF PRUSSIA, PA 19406
(Name of company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935, and submits the following
information:
1. Name, State of organization, location and nature of business of claimant
and every subsidiary thereof, other than any exempt wholesale generator (EWG) or
foreign utility company in which claimant directly or indirectly holds an
interest.
UGI Corporation (the "Company" or "UGI") was incorporated as a stock
corporation under the laws of Pennsylvania on December 20, 1991. The Company's
principal office is located at 460 North Gulph Road, King of Prussia,
Pennsylvania 19406.
UGI is a holding company which owns directly seven subsidiaries as
follows:
a. UGI Utilities, Inc. ("UGI Utilities") is a public utility
company incorporated in Pennsylvania that owns and operates (i) a natural gas
distribution utility serving 14 counties in eastern and southeastern
Pennsylvania, and (ii) an electric utility serving parts of Luzerne and Wyoming
Counties in northeastern Pennsylvania.
UGI Development Company, an inactive Pennsylvania corporation, is a
wholly owned subsidiary of UGI Utilities.
b. AmeriGas, Inc. is a Pennsylvania corporation which conducts
a propane distribution business from over 600 district locations in 46 states
through AmeriGas Partners, L.P., a Delaware Limited Partnership (the
"Partnership"). Through its subsidiaries, AmeriGas, Inc. owns 58% of the
Partnership. AmeriGas Propane, Inc., a Pennsylvania corporation, is a wholly
owned
<PAGE> 2
subsidiary of AmeriGas, Inc. and the sole general partner of the Partnership.
AmeriGas, Inc. is also the parent company of Four Flags Drilling Company, Inc.,
an inactive Pennsylvania corporation.
Four Flags Drilling Company, Inc. is the parent company of Four Flags
Holding Company, a Delaware investment holding company.
AmeriGas Propane, Inc. is the parent company of (i) AmeriGas Technology
Group, Inc., a Pennsylvania corporation engaged in the commercialization of a
patented process for use by waste treatment facilities, and (ii) Petrolane
Incorporated, a Pennsylvania holding company.
AmeriGas Partners, L. P. is the parent company of AmeriGas Finance
Corp., a Delaware corporation that serves as co-obligor for certain debt
securities of the Partnership. AmeriGas Partners holds the limited partnership
interests in AmeriGas Propane, L.P., a Delaware limited partnership.
AmeriGas Propane, L.P. is the parent company of (i) AmeriGas Propane
Parts & Service, Inc., a Pennsylvania corporation which sells appliance parts
and fittings and services propane appliances, and (ii) Petrolane Offshore Ltd.,
an inactive Bermuda corporation.
c. UGI Enterprises, Inc. is a Pennsylvania corporation that conducts an
electric energy marketing business under the trade name of POWERMARK, and a gas
marketing business under the trade name of GASMARK through its subsidiary, UGI
Energy Services, Inc., a Pennsylvania corporation. UGI Power Supply, Inc., also
a Pennsylvania corporation, is an inactive subsidiary. Retail sales of hearth
and patio products and services are conducted through its subsidiary, Hearth
USA, Inc., a Delaware corporation. Energy development partnerships in
international markets are pursued through its wholly owned subsidiaries, (i) UGI
International Enterprises, Inc., a Pennsylvania corporation, (ii) Eastfield
International Holdings, Inc., a Pennsylvania corporation, (iii) UGI Black Sea
Enterprises, Inc., a Pennsylvania corporation, (iv) UGI International (Romania),
Inc., a Pennsylvania corporation, (v) UGI Romania, Inc., a Pennsylvania
corporation, (vi) UGI International (China), Inc., a Delaware corporation, (vii)
UGI China, Inc., a Delaware corporation, and (viii) UGI Southwest China
Development Company, LLC, a Delaware limited liability company.
Energy Services Holding Company, a Delaware investment holding company,
is a subsidiary of UGI Energy Services, Inc.
d. UGI Properties, Inc. is a Pennsylvania corporation that owns UGI's
corporate headquarters building in King of Prussia, Pennsylvania.
e. Ashtola Production Company is an inactive Pennsylvania corporation.
Ashtola Production Company is the parent company of UGI Ethanol
Development Corporation, an inactive Pennsylvania corporation, and Cryotex
Incorporated, an inactive Delaware corporation.
-2-
<PAGE> 3
f. United Valley Insurance Company, a Vermont corporation, provides
auto, general, and workers' compensation liability insurance coverage to UGI and
certain of its subsidiaries.
g. Northfield Holding Company is a Delaware investment holding company.
2. A brief description of the properties of claimant and each of its
subsidiary public utility companies used for the generation, transmission, and
distribution of electric energy for sale, or for the production, transmission,
and distribution of natural or manufactured gas, indicating the location of
principal generating plants, transmission lines, producing fields, gas
manufacturing plants, and electric and gas distribution facilities, including
all such properties which are outside the State in which claimant and its
subsidiaries are organized and all transmission or pipelines which deliver or
receive electric energy or gas at the borders of such State.
The Company does not directly own any such properties.
The Company's subsidiary that is a public utility company, UGI
Utilities, Inc., owns the following properties and related land rights used for
the generation, transmission, and distribution of electric energy for sale to
customers in communities which have granted a franchise to provide electric
energy:
a. Principal generating plants: Hunlock generating station
located near Kingston, Pennsylvania; and a 1.11% ownership interest in Conemaugh
Station, located near Johnstown, Pennsylvania.
b. Transmission lines: 2,084 miles of transmission and
distribution lines and related facilities in portions of Luzerne and Wyoming
Counties in northeastern Pennsylvania.
c. Electric distribution facilities: 23 substations,
transformers and associated distribution facilities located in the service area,
in addition to the distribution lines referred to above.
UGI Utilities provides natural gas services through
approximately 4,400 miles of gas mains, related service facilities and land
rights, for the distribution of natural gas throughout a 14 county service area
in eastern and southeastern Pennsylvania to customers in communities which have
granted a franchise to provide gas service. In addition, it owns the following
properties used for the production and distribution of natural or manufactured
gas:
Gas storage plants: peak shaving facilities in Harrisburg, Reading and
Bethlehem, Pennsylvania which produce propane air and have a design capacity to
manufacture up to 35,000 Mcf. of propane air per day and a liquefied natural gas
plant near Reading, Pennsylvania which has storage capacity of 270,000 Mcf. and
is designed to add up to 25,000 Mcf. per day to the sendout capacity.
3. The following information for the last calendar year with respect to
claimant and each of its subsidiary public utility companies:
-3-
<PAGE> 4
a. Number of kwh. of electric energy sold (at retail or
wholesale), and Mcf. of natural or manufactured gas distributed at retail.
None by UGI
<TABLE>
<CAPTION>
UGI Utilities
<S> <C> <C> <C>
Retail 846,056,089 kwh.
Pilot 25,765,549 kwh.
Revenues
Sold at Retail 29,009,535 Mcf. $251,749,523
Transportation 43,554,523 58,806,571
---------- ------------
Total 72,564,058 Mcf. $310,556,094
</TABLE>
b. Number of kwh. of electric energy and Mcf. of natural or
manufactured gas distributed at retail outside the State in which each such
company is organized.
None by UGI or UGI Utilities
c. Number of kwh. of electric energy and Mcf. of natural or
manufactured gas sold at wholesale outside the State in which each such company
is organized, or at the State line.
None by UGI.
UGI Utilities - See Schedule A attached.
NOTE: UGI Utilities' principal business is the distribution of
natural gas exclusively within the Commonwealth of Pennsylvania. Incidental to
its principal business, UGI Utilities may, from time to time, sell natural gas
to other gas utilities or brokers on a wholesale basis. Some of these
transactions may take place outside the state.
d. Number of kwh. of electric energy and Mcf. of natural or
manufactured gas purchased outside the State in which each such company is
organized or at the State line.
None by UGI
<TABLE>
<CAPTION>
<S> <C> <C> <C>
UGI Utilities, Inc. - 61,490,000 kwh.
Cost
36,045,388 Mcf. $93,125,841
</TABLE>
4. The following information for the reporting period with respect to claimant
and each interest it holds directly or indirectly in an EWG or a foreign utility
company, stating monetary amounts in United States dollars:
-4-
<PAGE> 5
a. Name, location, business address and description of the
facilities used by the EWG or foreign utility company for the generation,
transmission and distribution of electric energy for sale or for the
distribution at retail of natural or manufactured gas.
None by UGI or UGI Utilities
b. Name of each system company that holds an interest in such
EWG or foreign utility company; and description of the interest held.
None by UGI or UGI Utilities
c. Type and amount of capital invested, directly or
indirectly, by the holding company claiming exemption; any direct or indirect
guarantee of the security of the EWG or foreign utility company by the holding
company claiming exemption; and any debt or other financial obligation for which
there is recourse, directly or indirectly, to the holding company claiming
exemption or another system company, other than the EWG or foreign utility
company.
None by UGI or UGI Utilities
d. Capitalization and earnings of the EWG or foreign utility
company during the reporting period.
None by UGI or UGI Utilities
e. Identify any service, sales or construction contract(s)
between the EWG or foreign utility company and a system company, and describe
the services to be rendered or goods sold and fees or revenues under such
agreement(s).
None by UGI or UGI Utilities
The above-named claimant has caused this statement to be duly executed
on its behalf by its authorized officer on this 26th day of February, 1999.
UGI CORPORATION
(Name of claimant)
By: ___________________________
(Title)
Michael J. Cuzzolina
Vice President - Accounting
and Financial Control
-5-
<PAGE> 6
CORPORATE SEAL
Attest:
- -----------------------
Brendan P. Bovaird
Corporate Secretary
Name, title, and address of officer to whom notices and correspondence
concerning this statement should be addressed:
Brendan P. Bovaird
Corporate Secretary
UGI Corporation
460 North Gulph Road
King of Prussia, PA 19406
-6-
<PAGE> 7
EXHIBIT A
A consolidating statement of income and surplus of the claimant and its
subsidiary companies for the last calendar year, together with a consolidating
balance sheet of the claimant and its subsidiary companies as of the close of
such calendar year.
Attached to this Form U-3A-2 as Exhibit A.
EXHIBIT B
A Financial Data Schedule setting forth the financial and other data
that are applicable to the registrant on a consolidated basis.
Attached to this Form U-3A-2 as Exhibit B.
EXHIBIT C
An organizational chart showing the relationship of each EWG or foreign
utility company to associate companies in the holding company system.
Not applicable.
-7-
<PAGE> 8
SCHEDULE A
UGI UTILITIES, INC.
OFF SYSTEM SALES BY STATE (MCF)
1/1/98 - 12/31/98
<TABLE>
<CAPTION>
VOLUME REVENUE
<S> <C> <C>
ALABAMA 9 $ 20.34
DELAWARE 21,186 50,412.39
INDIANA 67 154.56
KENTUCKY 69,267 172,192.13
LOUISIANA 1,309,605 2,935,727.11
MARYLAND 189,635 267,618.91
NORTH CAROLINA 9,465 23,364.55
NEW JERSEY 620,249 1,201,763.36
NEW YORK 642,551 1,490,093.22
OHIO 2,136,813 5,000,662.76
TEXAS 210,600 520,592.10
VIRGINIA 157,406 399,934.05
WEST VIRGINIA 22,715 56,412.98
------------- -----------------
TOTAL 5,389,568 $12,118,948.46
</TABLE>
<PAGE> 9
EXHIBIT A
UGI CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
SEPTEMBER 30, 1998
(Unaudited)
(Millions of dollars)
<TABLE>
<CAPTION>
Consolidated Eliminations Northfield UGI
UGI and UGI Holding Utilities,
Corp. Adjustments Corp. Company Inc.
-------------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents $ 66.6 $ - $ 15.2 $ 30.2 $ 4.7
Short-term investments 81.8 - - 75.1 -
Accounts receivable 81.8 (0.2) 0.1 1.0 20.0
Accrued utility revenues 6.7 - - - 6.7
Accounts receivable - intercompany - (1.0) 0.4 - 0.2
Inventories 77.9 - - - 28.5
Prepaid propane purchases 0.8 - - - -
Deferred income taxes 14.7 - 0.2 - 4.1
Prepaid expenses and other current assets 20.3 (2.8) 0.5 - 6.6
-------------- ----------- ----------- ----------- -----------
Total current assets 350.6 (4.0) 16.4 106.3 70.8
Investments in subsidiaries - (375.1) 375.1 - -
Gross property, plant and equipment 1,464.5 0.1 0.4 - 797.5
Less: accumulated depreciation and amortization 465.5 0.1 0.3 - 253.6
-------------- ----------- ----------- ----------- -----------
Net property, plant and equipment 999.0 - 0.1 - 543.9
Intangible assets 630.7 - - - -
Utility regulatory assets 59.3 - - - 59.3
Other assets 35.0 (12.4) 2.0 - 16.3
-------------- ----------- ----------- ----------- -----------
Total assets $ 2,074.6 $(391.5) $ 393.6 $ 106.3 $ 690.3
============== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
United
UGI Valley Ashtola UGI
AmeriGas, Properties, Insurance Production Enterprises,
Inc. Inc. Company Company Inc.
-------------- ----------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C>
ASSETS
Current assets:
Cash and cash equivalents $ 10.2 $ 0.1 $ 0.9 $ 0.1 $ 5.2
Short-term investments - - 6.7 - -
Accounts receivable 53.4 0.1 - - 7.4
Accrued utility revenues - - - - -
Accounts receivable - intercompany 0.3 - - - 0.1
Inventories 49.4 - - - -
Prepaid propane purchases 0.8 - - - -
Deferred income taxes 10.1 - 0.3 - -
Prepaid expenses and other current assets 15.7 0.1 0.2 - -
-------------- ----------- ----------- ----------- ----------
Total current assets 139.9 0.3 8.1 0.1 12.7
Investments in subsidiaries - - - - -
Gross property, plant and equipment 655.8 10.3 - - 0.4
Less: accumulated depreciation and amortization 210.0 1.4 - - 0.1
-------------- ----------- ----------- ----------- ----------
Net property, plant and equipment 445.8 8.9 - - 0.3
Intangible assets 630.7 - - - -
Utility regulatory assets - - - - -
Other assets 23.1 3.8 0.1 - 2.1
-------------- ----------- ----------- ----------- ----------
Total assets $ 1,239.5 $ 13.0 $ 8.2 $ 0.1 $ 15.1
============== =========== =========== =========== ==========
</TABLE>
<PAGE> 10
UGI CORPORATION AND SUBSIDIARIES
CONSOLIDATING BALANCE SHEET
SEPTEMBER 30, 1998
(Unaudited)
(Millions of dollars)
<TABLE>
<CAPTION>
Consolidated Eliminations Northfield UGI
UGI and UGI Holding Utilities,
Corp. Adjustments Corp. Company Inc.
-------------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt $ 13.6 $ - $ - $ - $ 7.1
Bank loans 78.4 - - - 68.4
Accounts payable 80.1 - 0.1 - 38.2
Accounts payable - intercompany - (11.1) 10.2 - 0.7
Employee compensation and benefits accrued 29.5 (0.1) 1.1 - 7.8
Dividends and interest accrued 44.7 - 12.0 - 4.6
Income taxes accrued 0.3 (0.2) (0.2) 0.1 0.2
Refunds and deposits 30.7 - - - 4.7
Other current liabilities 44.5 (3.2) 0.2 - 12.4
-------------- ----------- ----------- ----------- -----------
Total current liabilities 321.8 (14.6) 23.4 0.1 144.1
Long-term debt 890.8 - - - 180.1
Deferred income taxes 154.4 (2.0) 0.2 - 105.7
Deferred investment tax credits 10.0 - - - 10.0
Other noncurrent liabilities 74.0 0.3 2.9 - 19.1
Minority interest in AmeriGas Partners 236.5 - - - -
UGI Utilities Series Preferred Stock Subject to
Mandatory Redemption 20.0 - - - 20.0
Common stockholders' equity:
Common Stock - (60.4) - - 60.3
Additional paid-in-capital 394.3 (431.5) 394.3 102.2 68.6
Retained earnings (accumulated deficit) (17.7) 116.7 (17.7) 4.0 82.4
-------------- ----------- ----------- ----------- -----------
376.6 (375.2) 376.6 106.2 211.3
Less: treasury stock, at cost 9.5 - 9.5 - -
-------------- ----------- ----------- ----------- -----------
Total common stockholders' equity 367.1 (375.2) 367.1 106.2 211.3
-------------- ----------- ----------- ----------- -----------
Total liabilities and stockholders' equity $ 2,074.6 $ (391.5) $ 393.6 $ 106.3 $ 690.3
============== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
United
UGI Valley Ashtola UGI
AmeriGas, Properties, Insurance Production Enterprises,
Inc. Inc. Company Company Inc.
-------------- ----------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C>
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt $ 6.1 $ 0.4 $ - $ - $ -
Bank loans 10.0 - - - -
Accounts payable 34.2 - - - 7.6
Accounts payable - intercompany 0.1 - - - 0.1
Employee compensation and benefits accrued 20.0 - - - 0.7
Dividends and interest accrued 28.0 - 0.1 - -
Income taxes accrued - - - 0.5 (0.1)
Refunds and deposits 25.9 0.1 - - -
Other current liabilities 29.7 - 5.2 - 0.2
-------------- ----------- ----------- ----------- ----------
Total current liabilities 154.0 0.5 5.3 0.5 8.5
Long-term debt 702.9 7.8 - - -
Deferred income taxes 51.4 0.1 - - (1.0)
Deferred investment tax credits - - - - -
Other noncurrent liabilities 51.6 - - - 0.1
Minority interest in AmeriGas Partners 236.5 - - - -
UGI Utilities Series Preferred Stock Subject to
Mandatory Redemption - - - - -
Common stockholders' equity:
Common Stock - - 0.1 - -
Additional paid-in-capital 240.7 4.4 0.4 9.9 5.3
Retained earnings (accumulated deficit) (197.6) 0.2 2.4 (10.3) 2.2
-------------- ----------- ----------- ----------- ----------
43.1 4.6 2.9 (0.4) 7.5
Less: treasury stock, at cost - - - - -
-------------- ----------- ----------- ----------- ----------
Total common stockholders' equity 43.1 4.6 2.9 (0.4) 7.5
-------------- ----------- ----------- ----------- ----------
Total liabilities and stockholders' equity $ 1,239.5 $ 13.0 $ 8.2 $ 0.1 $ 15.1
============== =========== =========== =========== ==========
</TABLE>
<PAGE> 11
UGI CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED SEPTEMBER 30, 1998
(Unaudited)
(Millions of dollars)
<TABLE>
<CAPTION>
Consolidated Eliminations Northfield UGI
UGI and UGI Holding Utilities,
Corp. Adjustments Corp. Company Inc.
-------------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
Revenues:
Propane $ 914.4 $ - $ - $ - $ -
Utilities 422.3 - - - 422.3
Energy marketing 103.0 - - - -
Other - (3.0) - - -
-------------- ----------- ----------- ----------- -----------
1,439.7 (3.0) - - 422.3
Costs and expenses:
Propane cost of sales 443.8 - - - -
Utilities - gas, fuel and purchased power 214.6 - - - 214.6
Energy marketing cost of sales 98.3 - - - -
Operating and administrative expenses 437.7 (13.7) 10.7 - 116.0
Depreciation and amortization 87.8 - - - 22.1
Miscellaneous income, net (12.7) 10.8 (10.4) (5.1) (5.0)
-------------- ----------- ----------- ----------- -----------
1,269.5 (2.9) 0.3 (5.1) 347.7
-------------- ----------- ----------- ----------- -----------
Operating income 170.2 (0.1) (0.3) 5.1 74.6
Interest expense (84.4) 0.1 - - (17.6)
Minority interest in AmeriGas Partners (8.9) - - - -
-------------- ----------- ----------- ----------- -----------
Income before income taxes and subsidiary
preferred stock dividends 76.9 - (0.3) 5.1 57.0
Income taxes (34.4) - 0.1 (1.8) (21.4)
Dividends on UGI Utilities Series Preferred Stock (2.2) (2.2) - - -
Equity in income of subsidiaries - (40.5) 40.5 - -
-------------- ----------- ----------- ----------- -----------
Net income $ 40.3 (42.7) 40.3 3.3 35.6
==============
Dividends on preferred stock 2.2 - - (2.2)
----------- ----------- ----------- -----------
Net income after dividends on preferred stock $ (40.5) $ 40.3 $ 3.3 $ 33.4
=========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
United
UGI Valley Ashtola UGI
AmeriGas, Properties, Insurance Production Enterprises,
Inc. Inc. Company Company Inc.
-------------- ----------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Revenues:
Propane $ 914.4 $ - $ - $ - $ -
Utilities - - - - -
Energy marketing - - - - 103.0
Other - 1.7 1.3 - -
-------------- ----------- ----------- ----------- ----------
914.4 1.7 1.3 - 103.0
Costs and expenses:
Propane cost of sales 443.8 - - - -
Utilities - gas, fuel and purchased power - - - - -
Energy marketing cost of sales - - - - 98.3
Operating and administrative expenses 318.8 0.7 1.0 (0.4) 4.6
Depreciation and amortization 65.4 0.2 - - 0.1
Miscellaneous income, net (3.2) (0.1) (0.5) - 0.8
-------------- ----------- ----------- ----------- ----------
824.8 0.8 0.5 (0.4) 103.8
-------------- ----------- ----------- ----------- ----------
Operating income 89.6 0.9 0.8 0.4 (0.8)
Interest expense (66.1) (0.7) - - (0.1)
Minority interest in AmeriGas Partners (8.9) - - - -
-------------- ----------- ----------- ----------- ----------
Income before income taxes and subsidiary
preferred stock dividends 14.6 0.2 0.8 0.4 (0.9)
Income taxes (11.1) (0.1) (0.3) (0.1) 0.3
Dividends on UGI Utilities Series Preferred Stock - - - - -
Equity in income of subsidiaries - - - - -
-------------- ----------- ----------- ----------- ----------
Net income 3.5 0.1 0.5 0.3 (0.6)
Dividends on preferred stock - - - - -
-------------- ----------- ----------- ----------- ----------
Net income after dividends on preferred stock $ 3.5 $ 0.1 $ 0.5 $ 0.3 $ (0.6)
============== =========== =========== =========== ==========
</TABLE>
<PAGE> 12
UGI CORPORATION AND SUBSIDIARIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS (ACCUMULATED DEFICIT)
FOR THE YEAR ENDED SEPTEMBER 30, 1998
(Unaudited)
(Millions of dollars)
<TABLE>
<CAPTION>
Consolidated Eliminations Northfield UGI
UGI and UGI Holding Utilities,
Corp. Adjustments Corp. Company Inc.
-------------- ----------- ----------- ----------- -----------
<S> <C> <C> <C> <C> <C>
Balance at September 30, 1997 $ (9.2) $ 79.3 $ (9.2) $ 0.6 $ 72.0
Net income 40.3 (42.7) 40.3 3.3 35.6
Dividends on Common Stock (47.8) 77.9 (47.8) - (22.6)
Common Stock issued (0.7) - (0.7) - -
Dividends on UGI Utilities Series Preferred Stock - 2.2 - - (2.2)
Redemption of UGI Utilities Series Preferred Stock (0.3) 0.3 (0.3) - (0.3)
Other - (0.3) - 0.1 (0.1)
-------------- ----------- ----------- ----------- -----------
Balance at September 30, 1998 $ (17.7) $ 116.7 $ (17.7) $ 4.0 $ 82.4
============== =========== =========== =========== ===========
</TABLE>
<TABLE>
<CAPTION>
United
UGI Valley Ashtola UGI
AmeriGas, Properties, Insurance Production Enterprises,
Inc. Inc. Company Company Inc.
-------------- ----------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C>
Balance at September 30, 1997 $ (146.1) $ 0.1 $ 1.9 $ (10.5) $ 2.7
Net income 3.5 0.1 0.5 0.3 (0.6)
Dividends on Common Stock (55.2) - (0.1) - -
Common Stock issued - - - - -
Dividends on UGI Utilities Series Preferred Stock - - - - -
Redemption of UGI Utilities Series Preferred Stock - - - - -
Other 0.2 - 0.1 (0.1) 0.1
-------------- ----------- ----------- ----------- ----------
Balance at September 30, 1998 $ (197.6) $ 0.2 $ 2.4 $ (10.3) $ 2.2
============== =========== =========== =========== ==========
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET AND INCOME STATEMENT OF UGI CORPORATION AND
SUBSIDIARIES AS OF AND FOR THE YEAR ENDED SEPTEMBER 30, 1998, AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS INCLUDED IN UGI
CORPORATION'S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED SEPTEMBER 30, 1998.
</LEGEND>
<CIK> 0000884614
<NAME> UGI CORPORATION
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> OCT-01-1997
<PERIOD-END> SEP-30-1998
<CASH> 66,600
<SECURITIES> 81,800
<RECEIVABLES> 89,700
<ALLOWANCES> 7,900
<INVENTORY> 77,900
<CURRENT-ASSETS> 350,600
<PP&E> 1,464,500
<DEPRECIATION> 465,500
<TOTAL-ASSETS> 2,074,600
<CURRENT-LIABILITIES> 321,800
<BONDS> 890,800
20,000
0
<COMMON> 394,300
<OTHER-SE> (27,200)
<TOTAL-LIABILITY-AND-EQUITY> 2,074,600
<SALES> 1,439,700
<TOTAL-REVENUES> 1,439,700
<CGS> 756,700
<TOTAL-COSTS> 756,700
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 8,400
<INTEREST-EXPENSE> 84,400
<INCOME-PRETAX> 76,900
<INCOME-TAX> 34,400
<INCOME-CONTINUING> 40,300
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 40,300
<EPS-PRIMARY> 1.22
<EPS-DILUTED> 1.22
</TABLE>
