Cash Flow Statement

Operating Cash Flow

+71%

+11%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	58	66	76	88	104	98	99	101	98	109	112	151	201	194	188	167	154	172	176	181	197	190	204	222	228	233	305	409	525	497	382	344	335	343	356	365	348	339	320	275	287	224	198	255	370	424	428	477	523	534	533	315	410	407	414	582	508	552	489	612	516	425	524	667	763	814	822	477	466	431	308	431	260	392	532	623	886	952	1 467	1 068	1 513	1 356	1 074	216	(608)	(1 390)	(1 502)	(454)	(68)	673	269	550	533	418	678	600
Depreciation & Amortization	100	97	94	95	96	99	103	106	109	122	132	142	152	150	146	145	143	143	149	154	160	166	169	172	176	181	184	187	191	196	201	206	209	209	210	213	215	222	228	233	260	287	315	343	349	357	363	369	367	366	363	360	360	363	374	384	396	402	401	398	397	403	416	429	441	456	455	456	453	444	448	456	468	480	484	489	494	497	502	507	509	514	518	520	524	528	532	538	544	549	551	552	552	553	561	563
Change in Deffered Taxes	(2)	16	11	13	4	(9)	(3)	2	9	11	3	(2)	9	8	12	21	11	11	7	(2)	2	8	27	34	18	20	(1)	(39)	(12)	(9)	27	46	69	82	63	52	55	41	92	95	85	77	90	109	99	113	49	27	42	38	67	27	20	6	14	53	97	131	77	92	77	47	110	(58)	(131)	(119)	(69)	84	94	75	(43)	(17)	(39)	(9)	146	166	362	418	478	371	447	353	221	(53)	(285)	(339)	(420)	(86)	21	81	52	76	35	(15)	(46)	(31)
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7	0	0	0	9	0	0	0	12	0	0	0	11	0	0	0	13	0	0	0	16	0	0	0	15	15	22	23	18	18	17	18	26	27	29	28	29	29	26	27	24	24	25	25	19	20	20	20	23	23	23	24	18	18	20	21	15	15	13	13	21	22	22	22	15	15	14	15	17	0	0	0	8	0	0	0	18	0
Other Non-Cash Items	43	59	54	76	74	81	60	59	70	52	83	69	81	106	70	81	68	88	72	95	134	123	118	115	109	86	37	(66)	(140)	(118)	2	99	116	107	35	10	22	28	58	45	10	13	26	34	37	20	6	3	15	23	50	281	170	176	170	(55)	(32)	(93)	(41)	(101)	22	149	75	138	138	42	7	186	123	187	312	138	271	125	14	(88)	(288)	(439)	(1 247)	(785)	(1 391)	(1 088)	(544)	747	1 767	2 565	2 648	1 145	727	(73)	343	88	162	316	54	126
Cash Taxes Paid	0	0	48	0	0	0	48	0	0	0	70	0	0	0	55	0	0	0	143	0	0	0	94	0	0	0	135	0	0	0	130	0	0	0	129	0	0	0	49	0	0	0	33	0	0	0	60	0	0	0	142	0	0	0	173	0	0	0	135	0	0	0	98	0	0	0	118	0	0	0	74	0	0	0	75	0	0	0	96	0	0	0	61	0	0	0	(17)	0	0	0	80	0	0	0	55	0
Cash Interest Paid	0	0	106	0	0	0	110	0	0	0	118	0	0	0	131	0	0	0	129	0	0	0	127	0	0	0	145	0	0	0	136	0	0	0	131	0	0	0	135	0	0	0	169	0	0	0	244	0	0	0	228	0	0	0	227	0	0	0	229	0	0	0	202	0	0	0	222	0	0	0	248	0	0	0	311	0	0	0	297	0	0	0	320	0	0	0	332	0	0	0	403	0	0	0	375	0
Change in Working Capital	111	60	14	(57)	(1)	(16)	(2)	7	(76)	(57)	(69)	(109)	(98)	(65)	21	2	(56)	(101)	(125)	(131)	(62)	(42)	(62)	(170)	(135)	(68)	(61)	(5)	179	140	53	48	(202)	(153)	(65)	(94)	(53)	(79)	(143)	(79)	(44)	54	79	21	(1)	(85)	(44)	(34)	(145)	13	(7)	(31)	220	165	192	309	156	68	43	(33)	(75)	(71)	(161)	(307)	(253)	(147)	(131)	(53)	(12)	(54)	52	91	62	128	(74)	(55)	(269)	(242)	281	(425)	157	147	(553)	(360)	(658)	(639)	(151)	323	100	51	(33)	(39)	107	16	(20)	(129)
Cash from Operating Activities	309 N/A	297 -4%	248 -17%	214 -13%	277 +29%	253 -9%	257 +2%	275 +7%	210 -23%	237 +12%	261 +10%	252 -3%	345 +37%	393 +14%	438 +11%	415 -5%	320 -23%	313 -2%	279 -11%	297 +6%	431 +45%	444 +3%	456 +3%	374 -18%	397 +6%	451 +14%	464 +3%	487 +5%	743 +53%	706 -5%	665 -6%	743 +12%	527 -29%	588 +12%	599 +2%	546 -9%	587 +7%	549 -6%	555 +1%	568 +2%	597 +5%	654 +9%	708 +8%	761 +8%	854 +12%	828 -3%	802 -3%	843 +5%	804 -5%	973 +21%	1 005 +3%	952 -5%	1 180 +24%	1 115 -5%	1 164 +4%	1 272 +9%	1 124 -12%	1 059 -6%	970 -8%	969 0%	936 -3%	953 +2%	964 +1%	869 -10%	959 +10%	1 045 +9%	1 085 +4%	1 151 +6%	1 124 -2%	1 083 -4%	1 078 0%	1 100 +2%	1 023 -7%	1 116 +9%	1 102 -1%	1 135 +3%	1 186 +4%	1 186 +0%	1 481 +25%	736 -50%	1 235 +68%	1 282 +4%	716 -44%	1 070 +49%	740 -31%	725 -2%	1 107 +53%	1 466 +32%	1 324 -10%	1 281 -3%	1 182 -8%	1 227 +4%	1 389 +13%	1 288 -7%	1 227 -5%	1 129 -8%
Investing Cash Flow
Capital Expenditures	(85)	(87)	(95)	(97)	(103)	(104)	(101)	(99)	(100)	(115)	(134)	(151)	(158)	(159)	(158)	(160)	(173)	(179)	(192)	(204)	(205)	(213)	(223)	(221)	(219)	(222)	(232)	(253)	(272)	(293)	(302)	(304)	(309)	(317)	(347)	(358)	(369)	(364)	(361)	(363)	(346)	(351)	(339)	(343)	(372)	(395)	(486)	(528)	(526)	(520)	(457)	(456)	(466)	(462)	(491)	(491)	(512)	(531)	(564)	(629)	(651)	(665)	(639)	(589)	(563)	(561)	(574)	(610)	(649)	(690)	(705)	(703)	(706)	(666)	(655)	(660)	(617)	(644)	(690)	(689)	(741)	(781)	(804)	(828)	(863)	(923)	(974)	(920)	(885)	(834)	(796)	(851)	(828)	(845)	(837)	(847)
Other Items	(201)	(203)	28	26	(31)	(104)	(125)	(155)	(302)	(251)	(279)	(266)	(78)	(53)	(38)	(276)	(54)	(56)	(516)	(274)	(441)	(485)	(1)	8	(15)	26	(57)	(357)	(419)	(341)	(218)	68	77	(4)	(52)	(53)	(17)	(23)	(55)	(192)	(1 599)	(1 592)	(1 565)	(1 411)	(25)	(26)	(67)	(81)	(59)	(54)	(31)	(53)	(50)	(464)	(486)	(471)	(467)	(38)	5	33	23	(58)	(130)	(315)	(299)	(249)	(174)	(5)	(61)	(49)	(1 351)	(1 334)	(1 283)	(1 276)	6	(2)	(62)	(60)	(423)	(389)	(530)	(544)	(208)	(301)	(107)	(133)	(103)	(51)	(72)	(33)	4	(8)	22	105	138	235
Cash from Investing Activities	(286) N/A	(290) -1%	(66) +77%	(71) -7%	(134) -89%	(208) -55%	(226) -9%	(254) -12%	(402) -58%	(366) +9%	(413) -13%	(416) -1%	(236) +43%	(212) +10%	(196) +8%	(436) -122%	(227) +48%	(235) -4%	(708) -201%	(478) +33%	(646) -35%	(698) -8%	(224) +68%	(213) +5%	(234) -10%	(196) +16%	(290) -48%	(611) -111%	(691) -13%	(634) +8%	(520) +18%	(236) +55%	(232) +1%	(321) -38%	(399) -24%	(411) -3%	(386) +6%	(387) 0%	(415) -7%	(555) -34%	(1 944) -250%	(1 943) +0%	(1 905) +2%	(1 755) +8%	(396) +77%	(421) -6%	(553) -31%	(609) -10%	(585) +4%	(574) +2%	(488) +15%	(509) -4%	(516) -1%	(925) -79%	(976) -6%	(961) +2%	(979) -2%	(568) +42%	(559) +2%	(596) -7%	(629) -6%	(723) -15%	(769) -6%	(904) -18%	(862) +5%	(810) +6%	(749) +8%	(615) +18%	(710) -15%	(739) -4%	(2 055) -178%	(2 037) +1%	(1 989) +2%	(1 942) +2%	(649) +67%	(662) -2%	(679) -3%	(704) -4%	(1 113) -58%	(1 078) +3%	(1 271) -18%	(1 325) -4%	(1 012) +24%	(1 129) -12%	(970) +14%	(1 056) -9%	(1 077) -2%	(971) +10%	(957) +1%	(867) +9%	(792) +9%	(859) -8%	(806) +6%	(740) +8%	(699) +6%	(612) +12%
Financing Cash Flow
Net Issuance of Common Stock	9	9	11	10	15	22	19	18	247	250	254	0	33	27	7	0	19	14	11	0	12	16	16	0	13	19	21	0	19	0	11	0	13	0	28	0	49	52	27	30	291	292	300	307	33	39	36	28	23	(7)	(29)	(25)	(47)	(22)	(22)	(49)	(29)	(27)	(34)	(9)	(34)	(40)	(32)	(44)	(24)	2	(25)	(27)	(19)	(44)	(0)	(12)	(33)	(35)	(36)	(10)	8	228	232	236	232	(20)	(19)	(34)	(38)	(5)	(10)	(3)	3	0	0	0	(16)	(2)	(15)	(15)
Net Issuance of Debt	53	63	(37)	100	(46)	(55)	(73)	(137)	(28)	(19)	(27)	(21)	(27)	(3)	(18)	218	42	43	434	163	300	275	(38)	59	12	(33)	(43)	237	63	75	49	(310)	(52)	(92)	(57)	(42)	(28)	63	25	260	1 401	1 397	1 278	1 133	(103)	(141)	121	149	142	(15)	(85)	(29)	(236)	213	211	158	296	466	161	170	340	(76)	317	416	172	106	32	(10)	109	225	2 045	1 843	1 802	1 679	(326)	(198)	(194)	(404)	216	333	430	521	280	613	234	322	166	(383)	(116)	(200)	(176)	(86)	(111)	(80)	(69)	(170)
Cash Paid for Dividends	(54)	(44)	(45)	(45)	(46)	(47)	(48)	(48)	(49)	(53)	(56)	(60)	(64)	(66)	(67)	(69)	(71)	(72)	(73)	(74)	(74)	(76)	(77)	(78)	(79)	(80)	(81)	(82)	(83)	(84)	(85)	(86)	(87)	(93)	(99)	(105)	(111)	(112)	(114)	(115)	(116)	(118)	(119)	(121)	(122)	(124)	(126)	(128)	(129)	(131)	(136)	(141)	(146)	(152)	(154)	(155)	(157)	(159)	(161)	(163)	(165)	(167)	(169)	(171)	(173)	(175)	(177)	(179)	(181)	(188)	(200)	(222)	(245)	(261)	(273)	(274)	(275)	(279)	(282)	(285)	(289)	(292)	(296)	(300)	(302)	(306)	(308)	(311)	(314)	(316)	(318)	(320)	(322)	(321)	(322)	(322)
Other	51	49	(4)	(43)	(55)	20	19	17	15	(10)	(11)	(32)	(34)	(86)	6	5	3	2	(73)	(72)	(71)	(71)	(80)	(82)	(85)	(78)	(78)	(79)	(80)	(85)	(89)	(90)	(91)	(79)	(86)	(85)	(85)	(104)	(90)	(92)	(119)	(150)	(180)	(210)	(215)	(217)	(217)	(221)	(222)	(223)	(226)	(232)	(239)	(247)	(252)	(252)	(249)	(242)	(242)	(244)	(252)	(259)	(262)	(266)	(266)	(265)	(268)	(270)	(268)	(271)	(804)	(734)	(669)	0	0	0	0	0	0	(4)	(8)	(12)	(16)	(16)	(16)	(16)	(16)	(16)	(16)	(16)	(12)	(8)	(4)	0	0	0
Cash from Financing Activities	59 N/A	76 +28%	(74) N/A	22 N/A	(133) N/A	(59) +56%	(83) -41%	(151) -81%	186 N/A	169 -9%	159 -6%	139 -13%	(92) N/A	(127) -39%	(73) +43%	181 N/A	(7) N/A	(13) -81%	300 N/A	28 -91%	167 +490%	144 -13%	(179) N/A	(85) +52%	(140) -65%	(172) -23%	(180) -5%	98 N/A	(81) N/A	(91) -12%	(115) -27%	(475) -315%	(219) +54%	(253) -15%	(214) +16%	(205) +4%	(176) +14%	(100) +43%	(152) -51%	82 N/A	1 457 +1 668%	1 421 -2%	1 279 -10%	1 109 -13%	(407) N/A	(442) -9%	(186) +58%	(173) +7%	(187) -8%	(376) -101%	(476) -27%	(427) +10%	(668) -56%	(208) +69%	(217) -5%	(299) -37%	(139) +54%	39 N/A	(275) N/A	(245) +11%	(111) +55%	(541) -385%	(147) +73%	(64) +56%	(291) -354%	(332) -14%	(438) -32%	(485) -11%	(359) +26%	(278) +23%	1 042 N/A	876 -16%	855 -2%	783 -8%	(635) N/A	(482) +24%	(461) +4%	(455) +1%	166 N/A	280 +69%	365 +30%	197 -46%	(51) N/A	263 N/A	(122) N/A	(5) +96%	(168) -3 260%	(713) -324%	(443) +38%	(532) -20%	(506) +5%	(414) +18%	(453) -9%	(403) +11%	(406) -1%	(507) -25%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	0	(0)	0	0	0	1	(1)	1	4	1	(6)	(8)	(14)	(9)	4	5	9	8	5	12	12	19	18	(1)	(10)	(19)	(14)	4	8	3	(13)	(5)	(7)	3	14	(9)	(6)	(6)	(13)	(0)	3	(7)	1	7	8	15	13	(12)	(23)	(44)	(35)	(20)	(20)	14	(6)	(3)	(16)	(25)	6	1	25	26	(6)	(5)	(12)	(21)	(7)	(16)	(4)	(6)	(1)	28	27	25	17	(14)	(26)	(28)	(46)	(61)	(18)	(18)	(10)	9	(24)	(19)	(9)	4	(10)	0	14	5	15
Net Change in Cash	82 N/A	83 +1%	107 +29%	165 +55%	10 -94%	(14) N/A	(52) -287%	(130) -150%	(6) +95%	39 N/A	8 -81%	(22) N/A	18 N/A	47 +157%	161 +241%	146 -9%	77 -47%	69 -11%	(124) N/A	(144) -16%	(40) +72%	(105) -161%	66 N/A	88 +34%	42 -52%	101 +141%	(7) N/A	(37) -458%	(48) -30%	(32) +33%	35 N/A	40 +15%	78 +95%	2 -98%	(19) N/A	(76) -293%	27 N/A	76 +177%	(22) N/A	90 N/A	104 +16%	119 +14%	81 -31%	119 +46%	44 -63%	(35) N/A	69 N/A	70 +1%	47 -32%	37 -23%	30 -17%	(8) N/A	(48) -501%	(53) -9%	(50) +5%	(7) +86%	21 N/A	523 +2 428%	133 -75%	112 -16%	172 +53%	(305) N/A	50 N/A	(74) N/A	(168) -127%	(103) +39%	(107) -3%	38 N/A	33 -13%	59 +77%	49 -18%	(66) N/A	(117) -77%	(44) +62%	(154) -248%	17 N/A	70 +322%	44 -37%	520 +1 082%	(88) N/A	301 N/A	108 -64%	(408) N/A	186 N/A	(370) N/A	(346) +6%	(129) +63%	(242) -88%	(95) +61%	(127) -34%	(112) +12%	(56) +50%	130 N/A	159 +22%	127 -20%	25 -80%
Free Cash Flow
Free Cash Flow	224 N/A	210 -6%	153 -27%	117 -23%	174 +49%	149 -14%	156 +5%	175 +12%	110 -37%	122 +10%	127 +4%	101 -20%	187 +84%	233 +25%	279 +20%	256 -8%	147 -43%	134 -9%	88 -35%	93 +6%	227 +143%	231 +2%	233 +1%	153 -35%	178 +17%	229 +29%	232 +1%	233 +0%	471 +102%	413 -12%	363 -12%	439 +21%	218 -50%	271 +24%	252 -7%	188 -25%	218 +16%	186 -15%	194 +5%	206 +6%	252 +22%	302 +20%	368 +22%	418 +13%	482 +15%	433 -10%	316 -27%	316 N/A	278 -12%	453 +63%	549 +21%	496 -10%	714 +44%	654 -8%	673 +3%	782 +16%	613 -22%	528 -14%	406 -23%	340 -16%	285 -16%	288 +1%	326 +13%	280 -14%	396 +41%	484 +22%	511 +6%	540 +6%	475 -12%	393 -17%	374 -5%	397 +6%	317 -20%	451 +42%	447 -1%	475 +6%	569 +20%	542 -5%	791 +46%	47 -94%	494 +951%	501 +1%	(88) N/A	242 N/A	(123) N/A	(198) -61%	133 N/A	546 +311%	439 -20%	447 +2%	386 -14%	376 -3%	561 +49%	443 -21%	390 -12%	282 -28%

Income Statement Balance Sheet Cash Flow Statement

UGI Corp
NYSE:UGI

Cash Flow Statement

Cash Flow Statement
UGI Corp

See Also

Company

Help

Tools

Stocks

UGI Corp NYSE:UGI

Cash Flow Statement

Cash Flow Statement UGI Corp

See Also

Company

Help

Tools

Stocks

UGI Corp
NYSE:UGI

Cash Flow Statement
UGI Corp