Ugi Corp/PA – ‘10-Q’ for 12/31/00 – EX-18

On:  Wednesday, 2/14/01, at 3:08pm ET   ·   For:  12/31/00   ·   Accession #:  893220-1-163   ·   File #:  1-11071

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Form 10-Q Ugi Corporation                             32    133K 
 2: EX-18       Letter Re: Change in Accounting Principles             2±     8K 
 3: EX-27       Financial Data Schedule                                1      9K 

EX-18   —   Letter Re: Change in Accounting Principles

EX-18
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                                                                      Exhibit 18

LETTER REGARDING CHANGE IN ACCOUNTING PRINCIPLE 

UGI Corporation and Subsidiaries                                                

Re: Form 10-Q Report for the Quarter ended                                      
December 31, 2000                                                       

Ladies and Gentlemen:                                                           

This letter is written to meet the requirements of Regulation S-K calling for a 
letter from a registrant's independent accountants whenever there has been a    
change in accounting principle or practice.                                     

Effective October 1, 2000 AmeriGas Partners L.P., a subsidiary of UGI           
Corporation, and Subsidiaries ("the Partnership") changed its method of         
accounting for direct costs (which are not billed to customers) of installing   
Partnership-owned tanks at customer locations from expensing such costs as      
incurred to capitalizing and amortizing the costs over the period of the        
customer relationship. Management has changed its method of accounting because  
it believes that the new accounting principle better matches the costs of       
installing Partnership-owned tanks with the periods benefited. Management       
intends to amortize these costs using an accelerated method that reflects the   
attrition of the Partnership's customers. Management completed a study of the   
Partnership's customer relationship patterns noting that the period of benefit  
well exceeded one year.                                                         

A complete coordinated set of financial and reporting standards for determining 
the preferability of accounting principles among acceptable alternative         
principles has not been established by the accounting profession. Thus, we      
cannot make an objective determination of whether the change in accounting      
described in the preceding paragraph is to a preferable method. However, we     
have reviewed the pertinent factors, including those related to financial       
reporting, in this particular case on a subjective basis, and our opinion       
stated below is based on our determination made in this manner.                 

We are of the opinion that the Partnership's change in method of accounting is  
to an acceptable alternative method of accounting, which, based upon the        
reasons stated for the change and our discussions with you, is also preferable  
under the circumstances in this particular case. In arriving at this opinion,   
we have relied on the business judgment and business planning of your           
management.                                                                     

We have not audited the application of this change to the financial statements  
of any period subsequent to September 30, 2000. Further, we have not examined   
and do not express any opinion with respect to your financial statements for    
the three months ended December 31, 2000.                                       

ARTHUR ANDERSEN LLP                                                             

Philadelphia, Pennsylvania                                                      
February 12, 2001                                                               

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing		Date		Other Filings
Filed on:		2/14/01
		2/12/01
For Period End:		12/31/00
		10/1/00
		9/30/00		10-K,  10-K/A
				List all Filings