Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Oct. 31, 2014 | Mar. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'NATIONAL FUEL GAS CO | ' | ' |
Entity Central Index Key | '0000070145 | ' | ' |
Current Fiscal Year End Date | '--09-30 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 84,190,266 | ' |
Entity Public Float | ' | ' | $5,688,675,000 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income And Earnings Reinvested In The Business (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
INCOME | ' | ' | ' |
Operating Revenues | $2,113,081 | $1,829,551 | $1,626,853 |
Operating Expenses | ' | ' | ' |
Purchased Gas | 605,838 | 460,432 | 415,589 |
Operation and Maintenance | 463,078 | 442,090 | 401,397 |
Property, Franchise and Other Taxes | 90,711 | 82,431 | 90,288 |
Depreciation, Depletion and Amortization | 383,781 | 326,760 | 271,530 |
Total Operating Expenses | 1,543,408 | 1,311,713 | 1,178,804 |
Operating Income | 569,673 | 517,838 | 448,049 |
Other Income (Expense): | ' | ' | ' |
Other Income | 9,461 | 4,697 | 5,133 |
Interest Income | 4,170 | 4,335 | 3,689 |
Interest Expense on Long-Term Debt | -90,194 | -90,273 | -82,002 |
Other Interest Expense | -4,083 | -3,838 | -4,238 |
Income Before Income Taxes | 489,027 | 432,759 | 370,631 |
Income Tax Expense | 189,614 | 172,758 | 150,554 |
Net Income Available for Common Stock | 299,413 | 260,001 | 220,077 |
EARNINGS REINVESTED IN THE BUSINESS | ' | ' | ' |
Balance at Beginning of Year | 1,442,617 | 1,306,284 | 1,206,022 |
Beginning Retained Earnings Unappropriated And Current Period Net Income Loss | 1,742,030 | 1,566,285 | 1,426,099 |
Dividends on Common Stock | -127,669 | -123,668 | -119,815 |
Balance at End of Year | $1,614,361 | $1,442,617 | $1,306,284 |
Earnings Per Common Share, Basic: | ' | ' | ' |
Net Income Available for Common Stock (in usd per share) | $3.57 | $3.11 | $2.65 |
Earnings Per Common Share, Diluted: | ' | ' | ' |
Net Income Available for Common Stock (in usd per share) | $3.52 | $3.08 | $2.63 |
Weighted Average Number of Shares Outstanding: | ' | ' | ' |
Used in Basic Calculation | 83,929,989 | 83,518,857 | 83,127,844 |
Used in Diluted Calculation | 84,952,347 | 84,341,220 | 83,739,771 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net Income Available for Common Stock | $299,413 | $260,001 | $220,077 |
Other Comprehensive Income (Loss), Before Tax: | ' | ' | ' |
Increase (Decrease) in the Funded Status of the Pension and Other Post-Retirement Benefit Plans | -8,280 | 55,940 | -27,552 |
Reclassification Adjustment for Amortization of Prior Year Funded Status of the Pension and Other Post-Retirement Benefit Plans | 9,203 | 15,282 | 10,270 |
Unrealized Gain (Loss) on Securities Available for Sale Arising During the Period | 3,863 | 5,041 | 3,545 |
Unrealized Gain (Loss) on Derivative Financial Instruments Arising During the Period | 5,334 | 91,790 | -7,248 |
Reclassification Adjustment for Realized (Gains) Losses on Securities Available for Sale in Net Income | -662 | 0 | 0 |
Reclassification Adjustment for Realized (Gains) Losses on Derivative Financial Instruments in Net Income | 17,647 | -36,029 | -65,691 |
Other Comprehensive Income (Loss), Before Tax | 27,105 | 132,024 | -86,676 |
Income Tax Expense (Benefit) Related to the Increase (Decrease) in the Funded Status of the Pension and Other Post-Retirement Benefit Plans | -2,720 | 21,304 | -10,144 |
Reclassification Adjustment for Income Tax Benefit Related to the Amortization of the Prior Year Funded Status of the Pension and Other Post-Retirement Benefit Plans | 3,370 | 5,650 | 3,836 |
Income Tax Expense (Benefit) Related to Unrealized Gain (Loss) on Securities Available for Sale Arising During the Period | 1,398 | 1,847 | 1,311 |
Income Tax Expense (Benefit) Related to Unrealized Gain (Loss) on Derivative Financial Instruments Arising During the Period | 529 | 38,236 | -8,244 |
Reclassification Adjustment for Income Tax Benefit (Expense) on Realized Losses (Gains) from Securities Available for Sale in Net Income | -242 | 0 | 0 |
Reclassification Adjustment for Income Tax Benefit (Expense) on Realized Losses (Gains) on Derivative Financial Instruments in Net Income | 9,515 | -14,799 | -22,114 |
Income Taxes - Net | 11,850 | 52,238 | -35,355 |
Other Comprehensive Income (Loss) | 15,255 | 79,786 | -51,321 |
Comprehensive Income | $314,668 | $339,787 | $168,756 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Property, Plant and Equipment | $8,245,791 | $7,313,203 | ||
Less - Accumulated Depreciation, Depletion and Amortization | 2,502,700 | 2,161,477 | ||
Property, Plant and Equipment, Net, Total | 5,743,091 | 5,151,726 | ||
Current Assets | ' | ' | ||
Cash and Temporary Cash Investments | 36,886 | 64,858 | ||
Hedging Collateral Deposits | 2,734 | [1] | 1,094 | [1] |
Receivables - Net of Allowance for Uncollectible Accounts of $31,811 and $27,144, Respectively | 149,735 | 133,182 | ||
Unbilled Revenue | 25,663 | 19,483 | ||
Gas Stored Underground | 39,422 | 51,484 | ||
Materials and Supplies - at average cost | 27,817 | 29,904 | ||
Unrecovered Purchased Gas Costs | 0 | 12,408 | ||
Other Current Assets | 54,752 | 56,905 | ||
Deferred Income Taxes | 40,323 | 79,359 | ||
Total Current Assets | 377,332 | 448,677 | ||
Other Assets | ' | ' | ||
Recoverable Future Taxes | 163,485 | 163,355 | ||
Unamortized Debt Expense | 14,304 | 16,645 | ||
Other Regulatory Assets | 224,436 | 252,568 | ||
Deferred Charges | 14,212 | 9,382 | ||
Other Investments | 86,788 | 96,308 | ||
Goodwill | 5,476 | 5,476 | ||
Prepaid Post-Retirement Benefit Costs | 36,512 | 22,774 | ||
Fair Value of Derivative Financial Instruments | 72,606 | 48,989 | ||
Other | 1,355 | 2,447 | ||
Total Other Assets | 619,174 | 617,944 | ||
Total Assets | 6,739,597 | 6,218,347 | ||
Capitalization: | ' | ' | ||
Common Stock, $1 Par Value Authorized - 200,000,000 Shares; Issued and Outstanding - 84,157,220 Shares and 83,661,969 Shares, Respectively | 84,157 | 83,662 | ||
Paid In Capital | 716,144 | 687,684 | ||
Earnings Reinvested in the Business | 1,614,361 | 1,442,617 | ||
Accumulated Other Comprehensive Loss | -3,979 | -19,234 | ||
Total Comprehensive Shareholders' Equity | 2,410,683 | 2,194,729 | ||
Long-Term Debt, Net of Current Portion | 1,649,000 | 1,649,000 | ||
Total Capitalization | 4,059,683 | 3,843,729 | ||
Current and Accrued Liabilities | ' | ' | ||
Notes Payable to Banks and Commercial Paper | 85,600 | 0 | ||
Current Portion of Long-Term Debt | 0 | [2] | 0 | [2] |
Accounts Payable | 136,674 | 105,283 | ||
Amounts Payable to Customers | 33,745 | 12,828 | ||
Dividends Payable | 32,400 | 31,373 | ||
Interest Payable on Long-Term Debt | 29,960 | 29,960 | ||
Customer Advances | 19,005 | 21,959 | ||
Customer Security Deposits | 15,761 | 16,183 | ||
Other Accruals and Current Liabilities | 136,672 | 83,946 | ||
Fair Value of Derivative Financial Instruments | 759 | 639 | ||
Total Current and Accrued Liabilities | 490,576 | 302,171 | ||
Deferred Credits | ' | ' | ||
Deferred Income Taxes | 1,456,283 | 1,347,007 | ||
Taxes Refundable to Customers | 91,736 | 85,655 | ||
Unamortized Investment Tax Credit | 1,145 | 1,579 | ||
Cost of Removal Regulatory Liability | 173,199 | 157,622 | ||
Other Regulatory Liabilities | 81,152 | 61,549 | ||
Pension and Other Post-Retirement Liabilities | 134,202 | 158,014 | ||
Asset Retirement Obligations | 117,713 | 119,511 | ||
Other Deferred Credits | 133,908 | 141,510 | ||
Total Deferred Credits | 2,189,338 | 2,072,447 | ||
Commitments and Contingencies | 0 | 0 | ||
Total Capitalization and Liabilities | $6,739,597 | $6,218,347 | ||
[1] | Netting Adjustments represent the impact of legally-enforceable master netting arrangements that allow the Company to net gain and loss positions held with the same counterparties. The net asset or net liability for each counterparty is recorded as an asset or liability on the Company’s balance sheet. | |||
[2] | None of the Company’s long-term debt at September 30, 2014 and 2013 will mature within the following twelve-month period. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Receivables, Allowance for Uncollectible Accounts | $31,811 | $27,144 |
Common Stock, Par Value | $1 | $1 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares Issued | 84,157,220 | 83,661,969 |
Common Stock, Shares Outstanding | 84,157,220 | 83,661,969 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities | ' | ' | ' |
Net Income Available for Common Stock | $299,413 | $260,001 | $220,077 |
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities: | ' | ' | ' |
Depreciation, Depletion and Amortization | 383,781 | 326,760 | 271,530 |
Deferred Income Taxes | 142,415 | 167,887 | 144,150 |
Excess Tax Benefits Associated with Stock-Based Compensation Awards | -4,641 | -675 | -985 |
Elimination of Other Post-Retirement Regulatory Liability | 0 | 0 | -21,672 |
Stock-Based Compensation | 11,763 | 12,446 | 7,939 |
Other | 14,063 | 14,965 | 5,013 |
Change in: | ' | ' | ' |
Hedging Collateral Deposits | -1,640 | -730 | 19,337 |
Receivables and Unbilled Revenue | -22,781 | -17,135 | 13,859 |
Gas Stored Underground and Materials and Supplies | 13,285 | -3,016 | 5,405 |
Unrecovered Purchased Gas Costs | 12,408 | -12,408 | 0 |
Other Current Assets | -3,630 | -109 | 9,790 |
Accounts Payable | 15,149 | 8,303 | -16,773 |
Amounts Payable to Customers | 20,917 | -7,136 | 4,445 |
Customer Advances | -2,954 | -2,096 | 4,412 |
Customer Security Deposits | -422 | -1,759 | 621 |
Other Accruals and Current Liabilities | 6,872 | 666 | 10,633 |
Other Assets | 18,513 | -5,757 | -4,396 |
Other Liabilities | 6,879 | -1,635 | -14,375 |
Net Cash Provided by Operating Activities | 909,390 | 738,572 | 659,010 |
Investing Activities | ' | ' | ' |
Capital Expenditures | -914,417 | -703,461 | -1,035,007 |
Other | 5,982 | -2,522 | 446 |
Net Cash Used in Investing Activities | -908,435 | -705,983 | -1,034,561 |
Financing Activities | ' | ' | ' |
Change in Notes Payable to Banks and Commercial Paper | 85,600 | -171,000 | 131,000 |
Excess Tax Benefits Associated with Stock-Based Compensation Awards | 4,641 | 675 | 985 |
Net Proceeds from Issuance of Long-Term Debt | 0 | 495,415 | 496,085 |
Reduction of Long-Term Debt | 0 | -250,000 | -150,000 |
Net Proceeds from Issuance of Common Stock | 7,474 | 5,395 | 10,345 |
Dividends Paid on Common Stock | -126,642 | -122,710 | -118,798 |
Net Cash Provided By (Used in) Financing Activities | -28,927 | -42,225 | 369,617 |
Net Decrease in Cash and Temporary Cash Investments | -27,972 | -9,636 | -5,934 |
Cash and Temporary Cash Investments At Beginning of Year | 64,858 | 74,494 | 80,428 |
Cash and Temporary Cash Investments At End of Year | 36,886 | 64,858 | 74,494 |
Supplemental Disclosure of Cash Flow Information | ' | ' | ' |
Cash Paid for Interest | 91,927 | 91,215 | 79,820 |
Cash Paid for Income Taxes | 40,944 | 13,187 | 474 |
Non-cash Capital Expenditures | $136,628 | $81,138 | $67,503 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Summary Of Significant Accounting Policies | ' | |||||||||||||||
Summary of Significant Accounting Policies | ||||||||||||||||
Principles of Consolidation | ||||||||||||||||
The Company consolidates all entities in which it has a controlling financial interest. All significant intercompany balances and transactions are eliminated. The Company uses proportionate consolidation when accounting for drilling arrangements related to oil and gas producing properties accounted for under the full cost method of accounting. | ||||||||||||||||
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||||
Regulation | ||||||||||||||||
The Company is subject to regulation by certain state and federal authorities. The Company has accounting policies which conform to GAAP, as applied to regulated enterprises, and are in accordance with the accounting requirements and ratemaking practices of the regulatory authorities. Reference is made to Note C — Regulatory Matters for further discussion. | ||||||||||||||||
Revenue Recognition | ||||||||||||||||
The Company’s Exploration and Production segment records revenue based on entitlement, which means that revenue is recorded based on the actual amount of gas or oil that is delivered to a pipeline and the Company’s ownership interest in the producing well. If a production imbalance occurs between what was supposed to be delivered to a pipeline and what was actually produced and delivered, the Company accrues the difference as an imbalance. | ||||||||||||||||
The Company’s Pipeline and Storage segment records revenue for natural gas transportation and storage services. Revenue from reservation charges on firm contracted capacity is recognized through equal monthly charges over the contract period regardless of the amount of gas that is transported or stored. Commodity charges on firm contracted capacity and interruptible contracts are recognized as revenue when physical deliveries of natural gas are made at the agreed upon delivery point or when gas is injected or withdrawn from the storage field. The point of delivery into the pipeline or injection or withdrawal from storage is the point at which ownership and risk of loss transfers to the buyer of such transportation and storage services. | ||||||||||||||||
In the Company’s Gathering segment, revenue is recorded at the point at which gathered volumes are delivered into interstate pipelines. | ||||||||||||||||
The Company’s Utility segment records revenue for gas sales and transportation in the period that gas is delivered to customers. This includes the recording of receivables for gas delivered but not yet billed to customers based on the Company's estimate of the amount of gas delivered between the last meter reading date and the end of the accounting period. Such receivables are a component of Unbilled Revenue on the Consolidated Balance Sheets. | ||||||||||||||||
The Company’s Energy Marketing segment records revenue for gas sales in the period that gas is delivered to customers. This includes the recording of receivables for gas delivered but not yet billed to customers based on the Company's estimate of the amount of gas delivered between the last meter reading date and the end of the accounting period. Such receivables are a component of Unbilled Revenue on the Consolidated Balance Sheets. | ||||||||||||||||
Allowance for Uncollectible Accounts | ||||||||||||||||
The allowance for uncollectible accounts is the Company’s best estimate of the amount of probable credit losses in the existing accounts receivable. The allowance is determined based on historical experience, the age and other specific information about customer accounts. Account balances are charged off against the allowance twelve months after the account is final billed or when it is anticipated that the receivable will not be recovered. | ||||||||||||||||
Regulatory Mechanisms | ||||||||||||||||
The Company’s rate schedules in the Utility segment contain clauses that permit adjustment of revenues to reflect price changes from the cost of purchased gas included in base rates. Differences between amounts currently recoverable and actual adjustment clause revenues, as well as other price changes and pipeline and storage company refunds not yet includable in adjustment clause rates, are deferred and accounted for as either unrecovered purchased gas costs or amounts payable to customers. Such amounts are generally recovered from (or passed back to) customers during the following fiscal year. | ||||||||||||||||
Estimated refund liabilities to ratepayers represent management’s current estimate of such refunds. Reference is made to Note C — Regulatory Matters for further discussion. | ||||||||||||||||
The impact of weather on revenues in the Utility segment’s New York rate jurisdiction is tempered by a WNC, which covers the eight-month period from October through May. The WNC is designed to adjust the rates of retail customers to reflect the impact of deviations from normal weather. Weather that is warmer than normal results in a surcharge being added to customers’ current bills, while weather that is colder than normal results in a refund being credited to customers’ current bills. Since the Utility segment’s Pennsylvania rate jurisdiction does not have a WNC, weather variations have a direct impact on the Pennsylvania rate jurisdiction’s revenues. | ||||||||||||||||
The impact of weather normalized usage per customer account in the Utility segment’s New York rate jurisdiction is tempered by a revenue decoupling mechanism. The effect of the revenue decoupling mechanism is to render the Company financially indifferent to throughput decreases resulting from conservation. Weather normalized usage per account that exceeds the average weather normalized usage per customer account results in a refund being credited to customers’ bills. Weather normalized usage per account that is below the average weather normalized usage per account results in a surcharge being added to customers’ bills. The surcharge or credit is calculated over a twelve-month period ending December 31st, and applied to customer bills annually, beginning March 1st. | ||||||||||||||||
In the Pipeline and Storage segment, the allowed rates that Supply Corporation and Empire bill their customers are based on a straight fixed-variable rate design, which allows recovery of all fixed costs, including return on equity and income taxes, through fixed monthly reservation charges. Because of this rate design, changes in throughput due to weather variations do not have a significant impact on the revenues of Supply Corporation or Empire. | ||||||||||||||||
Property, Plant and Equipment | ||||||||||||||||
In the Company’s Exploration and Production segment, oil and gas property acquisition, exploration and development costs are capitalized under the full cost method of accounting. Under this methodology, all costs associated with property acquisition, exploration and development activities are capitalized, including internal costs directly identified with acquisition, exploration and development activities. The internal costs that are capitalized do not include any costs related to production, general corporate overhead, or similar activities. The Company does not recognize any gain or loss on the sale or other disposition of oil and gas properties unless the gain or loss would significantly alter the relationship between capitalized costs and proved reserves of oil and gas attributable to a cost center. For further discussion of capitalized costs, refer to Note M — Supplementary Information for Oil and Gas Producing Activities. | ||||||||||||||||
Capitalized costs are subject to the SEC full cost ceiling test. The ceiling test, which is performed each quarter, determines a limit, or ceiling, on the amount of property acquisition, exploration and development costs that can be capitalized. The ceiling under this test represents (a) the present value of estimated future net cash flows, excluding future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, using a discount factor of 10%, which is computed by applying prices of oil and gas (as adjusted for hedging) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet, less estimated future expenditures, plus (b) the cost of unevaluated properties not being depleted, less (c) income tax effects related to the differences between the book and tax basis of the properties. The natural gas and oil prices used to calculate the full cost ceiling are based on an unweighted arithmetic average of the first day of the month oil and gas prices for each month within the twelve-month period prior to the end of the reporting period. If capitalized costs, net of accumulated depreciation, depletion and amortization and related deferred income taxes, exceed the ceiling at the end of any quarter, a permanent impairment is required to be charged to earnings in that quarter. In adjusting estimated future net cash flows for hedging under the ceiling test at September 30, 2014, 2013, and 2012, estimated future net cash flows were decreased by $33.6 million and increased by $71.6 million and $128.4 million, respectively. At September 30, 2014, the ceiling exceeded the book value of the oil and gas properties by approximately $148.4 million. | ||||||||||||||||
The principal assets of the Utility and Pipeline and Storage segments, consisting primarily of gas plant in service, are recorded at the historical cost when originally devoted to service. | ||||||||||||||||
Maintenance and repairs of property and replacements of minor items of property are charged directly to maintenance expense. The original cost of the regulated subsidiaries’ property, plant and equipment retired, and the cost of removal less salvage, are charged to accumulated depreciation. | ||||||||||||||||
Depreciation, Depletion and Amortization | ||||||||||||||||
For oil and gas properties, depreciation, depletion and amortization is computed based on quantities produced in relation to proved reserves using the units of production method. The cost of unproved oil and gas properties is excluded from this computation. In the All Other category, for timber properties, depletion, determined on a property by property basis, is charged to operations based on the actual amount of timber cut in relation to the total amount of recoverable timber. For all other property, plant and equipment, depreciation and amortization is computed using the straight-line method in amounts sufficient to recover costs over the estimated service lives of property in service. The following is a summary of depreciable plant by segment: | ||||||||||||||||
As of September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Exploration and Production | $ | 3,996,834 | $ | 3,437,767 | ||||||||||||
Pipeline and Storage | 1,609,593 | 1,547,192 | ||||||||||||||
Gathering | 239,507 | 130,082 | ||||||||||||||
Utility | 1,833,104 | 1,778,140 | ||||||||||||||
Energy Marketing | 3,366 | 3,460 | ||||||||||||||
All Other and Corporate | 108,986 | 109,690 | ||||||||||||||
$ | 7,791,390 | $ | 7,006,331 | |||||||||||||
Average depreciation, depletion and amortization rates are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Exploration and Production, per Mcfe(1) | $ | 1.85 | $ | 2.02 | $ | 2.25 | ||||||||||
Pipeline and Storage | 2.4 | % | 2.5 | % | 2.9 | % | ||||||||||
Gathering | 3.3 | % | 3.7 | % | 3.3 | % | ||||||||||
Utility | 2.6 | % | 2.6 | % | 2.6 | % | ||||||||||
Energy Marketing | 5.8 | % | 3.9 | % | 3.6 | % | ||||||||||
All Other and Corporate | 0.9 | % | 1.3 | % | 1.1 | % | ||||||||||
-1 | Amounts include depletion of oil and gas producing properties as well as depreciation of fixed assets. As disclosed in Note M — Supplementary Information for Oil and Gas Producing Properties, depletion of oil and gas producing properties amounted to $1.82, $1.98 and $2.19 per Mcfe of production in 2014, 2013 and 2012, respectively. | |||||||||||||||
Goodwill | ||||||||||||||||
The Company has recognized goodwill of $5.5 million as of September 30, 2014 and 2013 on its Consolidated Balance Sheets related to the Company’s acquisition of Empire in 2003. The Company accounts for goodwill in accordance with the current authoritative guidance, which requires the Company to test goodwill for impairment annually. At September 30, 2014, 2013 and 2012, the fair value of Empire was greater than its book value. As such, the goodwill was not considered impaired at those dates. Going back to the origination of the goodwill in 2003, the Company has never recorded an impairment of its goodwill balance. | ||||||||||||||||
Financial Instruments | ||||||||||||||||
Unrealized gains or losses from the Company’s investments in an equity mutual fund and the stock of an insurance company (securities available for sale) are recorded as a component of accumulated other comprehensive income (loss). Reference is made to Note G — Financial Instruments for further discussion. | ||||||||||||||||
The Company uses a variety of derivative financial instruments to manage a portion of the market risk associated with fluctuations in the price of natural gas and crude oil. These instruments include price swap agreements and futures contracts. The Company accounts for these instruments as either cash flow hedges or fair value hedges. In both cases, the fair value of the instrument is recognized on the Consolidated Balance Sheets as either an asset or a liability labeled Fair Value of Derivative Financial Instruments. Reference is made to Note F — Fair Value Measurements for further discussion concerning the fair value of derivative financial instruments. | ||||||||||||||||
For effective cash flow hedges, the offset to the asset or liability that is recorded is a gain or loss recorded in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The gain or loss recorded in accumulated other comprehensive income (loss) remains there until the hedged transaction occurs, at which point the gains or losses are reclassified to operating revenues or purchased gas expense on the Consolidated Statements of Income. Reference is made to Note G - Financial Instruments for further discussion concerning cash flow hedges. | ||||||||||||||||
For fair value hedges, the offset to the asset or liability that is recorded is a gain or loss recorded to operating revenues or purchased gas expense on the Consolidated Statements of Income. However, in the case of fair value hedges, the Company also records an asset or liability on the Consolidated Balance Sheets representing the change in fair value of the asset or firm commitment that is being hedged (see Other Current Assets section in this footnote). The offset to this asset or liability is a gain or loss recorded to operating revenues or purchased gas expense on the Consolidated Statements of Income as well. If the fair value hedge is effective, the gain or loss from the derivative financial instrument is offset by the gain or loss that arises from the change in fair value of the asset or firm commitment that is being hedged. Reference is made to Note G - Financial Instruments for further discussion concerning fair value hedges. | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||
The components of Accumulated Other Comprehensive Income (Loss) and changes for the year ended September 30, 2014, net of related tax effect, are as follows (amounts in parentheses indicate debits) (in thousands): | ||||||||||||||||
Gains and Losses on Derivative Financial Instruments | Gains and Losses on Securities Available for Sale | Funded Status of the Pension and Other Post-Retirement Benefit Plans | Total | |||||||||||||
Year Ended September 30, 2014 | ||||||||||||||||
Balance at October 1, 2013 | $ | 30,722 | $ | 6,337 | $ | (56,293 | ) | $ | (19,234 | ) | ||||||
Other Comprehensive Gains and Losses Before Reclassifications | 4,805 | 2,465 | (5,560 | ) | 1,710 | |||||||||||
Amounts Reclassified From Other Comprehensive Loss | 8,132 | (420 | ) | 5,833 | 13,545 | |||||||||||
Balance at September 30, 2014 | $ | 43,659 | $ | 8,382 | $ | (56,020 | ) | $ | (3,979 | ) | ||||||
The amounts included in accumulated other comprehensive income (loss) related to the funded status of the Company’s pension and other post-retirement benefit plans consist of prior service costs and accumulated losses. The total amount for prior service credit was $0.2 million and $0.3 million at September 30, 2014 and 2013, respectively. The total amount for accumulated losses was $56.2 million and $56.6 million at September 30, 2014 and 2013, respectively. | ||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Loss | ||||||||||||||||
The details about the reclassification adjustments out of accumulated other comprehensive loss for the year ended September 30, 2014 are as follows (amounts in parentheses indicate debits to the income statement) (in thousands): | ||||||||||||||||
Details About Accumulated Other | Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss for the | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||||||
Comprehensive Loss Components | Year Ended | |||||||||||||||
30-Sep-14 | ||||||||||||||||
Gains (Losses) on Derivative Financial Instrument Cash Flow Hedges: | ||||||||||||||||
Commodity Contracts | ($14,880 | ) | Operating Revenues | |||||||||||||
Commodity Contracts | (2,767 | ) | Purchased Gas | |||||||||||||
Gains (Losses) on Securities Available for Sale | 662 | Other Income | ||||||||||||||
Amortization of Prior Year Funded Status of the Pension and Other Post-Retirement Benefit Plans: | ||||||||||||||||
Prior Service Credit | 131 | -1 | ||||||||||||||
Net Actuarial Loss | (9,334 | ) | -1 | |||||||||||||
(26,188 | ) | Total Before Income Tax | ||||||||||||||
12,643 | Income Tax Expense | |||||||||||||||
($13,545 | ) | Net of Tax | ||||||||||||||
-1 | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost. Refer to Note H — Retirement Plan and Other Post-Retirement Benefits for additional details. | |||||||||||||||
Gas Stored Underground — Current | ||||||||||||||||
In the Utility segment, gas stored underground — current in the amount of $25.3 million is carried at lower of cost or market, on a LIFO method. Based upon the average price of spot market gas purchased in September 2014, including transportation costs, the current cost of replacing this inventory of gas stored underground — current exceeded the amount stated on a LIFO basis by approximately $33.2 million at September 30, 2014. All other gas stored underground — current, which is in the Energy Marketing segment, is carried at an average cost method, subject to lower of cost or market adjustments. | ||||||||||||||||
Unamortized Debt Expense | ||||||||||||||||
Costs associated with the issuance of debt by the Company are deferred and amortized over the lives of the related debt. | ||||||||||||||||
Costs associated with the reacquisition of debt related to rate-regulated subsidiaries are deferred and amortized over the remaining life of the issue or the life of the replacement debt in order to match regulatory treatment. At September 30, 2014, the remaining weighted average amortization period for such costs was approximately 5 years. | ||||||||||||||||
Income Taxes | ||||||||||||||||
The Company and its subsidiaries file a consolidated federal income tax return. State tax returns are filed on a combined or separate basis depending on the applicable laws in the jurisdictions where tax returns are filed. Investment tax credit, prior to its repeal in 1986, was deferred and is being amortized over the estimated useful lives of the related property, as required by regulatory authorities having jurisdiction. | ||||||||||||||||
The Company reports a liability or a reduction of deferred tax assets for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest relating to uncertain tax positions in Other Interest Expense and penalties in Other Income. | ||||||||||||||||
Consolidated Statement of Cash Flows | ||||||||||||||||
For purposes of the Consolidated Statement of Cash Flows, the Company considers all highly liquid debt instruments purchased with a maturity of generally three months or less to be cash equivalents. | ||||||||||||||||
Hedging Collateral Deposits | ||||||||||||||||
This is an account title for cash held in margin accounts funded by the Company to serve as collateral for hedging positions. In accordance with its accounting policy, the Company does not offset hedging collateral deposits paid or received against related derivative financial instrument liability or asset balances. | ||||||||||||||||
Other Current Assets | ||||||||||||||||
The components of the Company’s Other Current Assets are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Prepayments | $ | 10,079 | $ | 10,605 | ||||||||||||
Prepaid Property and Other Taxes | 13,743 | 13,079 | ||||||||||||||
Federal Income Taxes Receivable | 8,211 | 1,122 | ||||||||||||||
State Income Taxes Receivable | — | 3,275 | ||||||||||||||
Fair Values of Firm Commitments | — | 1,829 | ||||||||||||||
Regulatory Assets | 22,719 | 26,995 | ||||||||||||||
$ | 54,752 | $ | 56,905 | |||||||||||||
Other Accruals and Current Liabilities | ||||||||||||||||
The components of the Company’s Other Accruals and Current Liabilities are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Accrued Capital Expenditures | $ | 80,348 | $ | 41,100 | ||||||||||||
Regulatory Liabilities | 18,072 | 20,013 | ||||||||||||||
State Income Taxes Payable | 5,798 | — | ||||||||||||||
Other | 32,454 | 22,833 | ||||||||||||||
$ | 136,672 | $ | 83,946 | |||||||||||||
Customer Advances | ||||||||||||||||
The Company’s Utility and Energy Marketing segments have balanced billing programs whereby customers pay their estimated annual usage in equal installments over a twelve-month period. Monthly payments under the balanced billing programs are typically higher than current month usage during the summer months. During the winter months, monthly payments under the balanced billing programs are typically lower than current month usage. At September 30, 2014 and 2013, customers in the balanced billing programs had advanced excess funds of $19.0 million and $22.0 million, respectively. | ||||||||||||||||
Customer Security Deposits | ||||||||||||||||
The Company, in its Utility, Pipeline and Storage, and Energy Marketing segments, often times requires security deposits from marketers, producers, pipeline companies, and commercial and industrial customers before providing services to such customers. At September 30, 2014 and 2013, the Company had received customer security deposits amounting to $15.8 million and $16.2 million, respectively. | ||||||||||||||||
Earnings Per Common Share | ||||||||||||||||
Basic earnings per common share is computed by dividing income available for common stock by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For purposes of determining earnings per common share, the only potentially dilutive securities the Company has outstanding are stock options, SARs, restricted stock units and performance shares. The diluted weighted average shares outstanding shown on the Consolidated Statements of Income reflects the potential dilution as a result of these securities as determined using the Treasury Stock Method. Stock options, SARs, restricted stock units and performance shares that are antidilutive are excluded from the calculation of diluted earnings per common share. For 2014, 2013 and 2012, 1,007 securities, 181,418 securities and 844,872 securities were excluded as being antidilutive, respectively. | ||||||||||||||||
Stock-Based Compensation | ||||||||||||||||
The Company has various stock option and stock award plans which provide or provided for the issuance of one or more of the following to key employees: incentive stock options, nonqualified stock options, SARs, restricted stock, restricted stock units, performance units or performance shares. The Company follows authoritative guidance which requires the measurement and recognition of compensation cost at fair value for all share-based payments. Stock options and SARs under all plans have exercise prices equal to the average market price of Company common stock on the date of grant, and generally no stock option or SAR is exercisable less than one year or more than ten years after the date of each grant. The Company has chosen the Black-Scholes-Merton closed form model to calculate the compensation expense associated with stock options and SARs. | ||||||||||||||||
Restricted stock is subject to restrictions on vesting and transferability. Restricted stock awards entitle the participants to full dividend and voting rights. The market value of restricted stock on the date of the award is recorded as compensation expense over the vesting period. Certificates for shares of restricted stock awarded under the Company’s stock option and stock award plans are held by the Company during the periods in which the restrictions on vesting are effective. Restrictions on restricted stock awards generally lapse ratably over a period of not more than ten years after the date of each grant. Restricted stock units also are subject to restrictions on vesting and transferability. Restricted stock units, both performance and non-performance based, represent the right to receive shares of common stock of the Company (or the equivalent value in cash or a combination of cash and shares of common stock of the Company, as determined by the Company) at the end of a specified time period. The performance based and non-performance based restricted stock units do not entitle the participants to dividend and voting rights. The accounting for performance based and non-performance based restricted stock units is the same as the accounting for restricted share awards, except that the fair value at the date of grant of the restricted stock units (represented by the market value of Company common stock on the date of the award) must be reduced by the present value of forgone dividends over the vesting term of the award. The fair value of restricted stock units on the date of award is recorded as compensation expense over the vesting period. | ||||||||||||||||
Performance shares are an award constituting units denominated in common stock of the Company, the number of which may be adjusted over a performance cycle based upon the extent to which performance goals have been satisfied. Earned performance shares may be distributed in the form of shares of common stock of the Company, an equivalent value in cash or a combination of cash and shares of common stock of the Company, as determined by the Company. The performance shares do not entitle the participant to receive dividends during the vesting period. For performance shares based on a return on capital goal, the fair value at the date of grant of the performance shares is determined by multiplying the expected number of performance shares to be issued by the market value of Company common stock on the date of grant reduced by the present value of forgone dividends. For performance shares based on a total shareholder return goal, the Company uses the Monte Carlo simulation technique to estimate the fair value price at the date of grant. | ||||||||||||||||
Refer to Note E — Capitalization and Short-Term Borrowings under the heading “Stock Option and Stock Award Plans” for additional disclosures related to stock-based compensation awards for all plans. | ||||||||||||||||
New Authoritative Accounting and Financial Reporting Guidance | ||||||||||||||||
In May 2014, the FASB issued authoritative guidance regarding revenue recognition. The authoritative guidance provides a single, comprehensive revenue recognition model for all contracts with customers to improve comparability. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. This authoritative guidance will be effective as of the Company's first quarter of fiscal 2018 and early adoption is not permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements and disclosures. | ||||||||||||||||
In June 2014, the FASB issued authoritative guidance regarding accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the employee has completed the requisite service period. This authoritative guidance requires that such performance targets that affect vesting be treated as performance conditions, meaning that the performance target should not be factored in the calculation of the award at the grant date. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. This authoritative guidance will be effective as of the Company's first quarter of fiscal 2017, with early adoption permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||||||
Asset Retirement Obligations | ' | |||||||||||
Asset Retirement Obligations | ||||||||||||
The Company accounts for asset retirement obligations in accordance with the authoritative guidance that requires entities to record the fair value of a liability for an asset retirement obligation in the period in which it is incurred. An asset retirement obligation is defined as a legal obligation associated with the retirement of a tangible long-lived asset in which the timing and/or method of settlement may or may not be conditional on a future event that may or may not be within the control of the Company. When the liability is initially recorded, the entity capitalizes the estimated cost of retiring the asset as part of the carrying amount of the related long-lived asset. Over time, the liability is adjusted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset. The Company estimates the fair value of its asset retirement obligations based on the discounting of expected cash flows using various estimates, assumptions and judgments regarding certain factors such as the existence of a legal obligation for an asset retirement obligation; estimated amounts and timing of settlements; the credit-adjusted risk-free rate to be used; and inflation rates. Asset retirement obligations incurred in the current period were Level 3 fair value measurements as the inputs used to measure the fair value are unobservable. | ||||||||||||
The Company has recorded an asset retirement obligation representing plugging and abandonment costs associated with the Exploration and Production segment’s crude oil and natural gas wells and has capitalized such costs in property, plant and equipment (i.e. the full cost pool). | ||||||||||||
In addition to the asset retirement obligation recorded in the Exploration and Production segment, the Company has recorded future asset retirement obligations associated with the plugging and abandonment of natural gas storage wells in the Pipeline and Storage segment and the removal of asbestos and asbestos-containing material in various facilities in the Utility and Pipeline and Storage segments. The Company has also recorded asset retirement obligations for certain costs connected with the retirement of the distribution mains and services components of the pipeline system in the Utility segment and with the transmission mains and other components in the pipeline system in the Pipeline and Storage segment. These retirement costs within the distribution and transmission systems are primarily for the capping and purging of pipe, which are generally abandoned in place when retired, as well as for the clean-up of PCB contamination associated with the removal of certain pipe. | ||||||||||||
A reconciliation of the Company’s asset retirement obligations are shown below: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
Balance at Beginning of Year | $ | 119,511 | $ | 119,246 | $ | 75,731 | ||||||
Liabilities Incurred and Revisions of Estimates | (2,496 | ) | (4,796 | ) | 41,653 | |||||||
Liabilities Settled | (6,955 | ) | (1,744 | ) | (2,997 | ) | ||||||
Accretion Expense | 7,653 | 6,805 | 4,859 | |||||||||
Balance at End of Year | $ | 117,713 | $ | 119,511 | $ | 119,246 | ||||||
Regulatory_Matters
Regulatory Matters | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Regulatory Assets and Liabilities, Other Disclosures [Abstract] | ' | |||||||
Regulatory Matters | ' | |||||||
Regulatory Matters | ||||||||
Regulatory Assets and Liabilities | ||||||||
The Company has recorded the following regulatory assets and liabilities: | ||||||||
At September 30 | ||||||||
2014 | 2013 | |||||||
(Thousands) | ||||||||
Regulatory Assets(1): | ||||||||
Pension Costs(2) (Note H) | $ | 164,804 | $ | 187,181 | ||||
Post-Retirement Benefit Costs(2) (Note H) | 17,128 | 29,838 | ||||||
Recoverable Future Taxes (Note D) | 163,485 | 163,355 | ||||||
Environmental Site Remediation Costs(2) (Note I) | 25,645 | 18,104 | ||||||
NYPSC Assessment(3) | 12,730 | 13,169 | ||||||
Asset Retirement Obligations(2) (Note B) | 12,006 | 11,837 | ||||||
Unamortized Debt Expense (Note A) | 2,747 | 3,276 | ||||||
Other(4) | 14,842 | 19,434 | ||||||
Total Regulatory Assets | 413,387 | 446,194 | ||||||
Less: Amounts Included in Other Current Assets | (22,719 | ) | (26,995 | ) | ||||
Total Long-Term Regulatory Assets | $ | 390,668 | $ | 419,199 | ||||
At September 30 | ||||||||
2014 | 2013 | |||||||
(Thousands) | ||||||||
Regulatory Liabilities: | ||||||||
Cost of Removal Regulatory Liability | $ | 173,199 | $ | 157,622 | ||||
Taxes Refundable to Customers (Note D) | 91,736 | 85,655 | ||||||
Post-Retirement Benefit Costs (Note H) | 53,650 | 37,923 | ||||||
Amounts Payable to Customers (See Regulatory Mechanisms in Note A) | 33,745 | 12,828 | ||||||
Off-System Sales and Capacity Release Credits(5) | 12,805 | 10,228 | ||||||
Other(6) | 32,769 | 33,411 | ||||||
Total Regulatory Liabilities | 397,904 | 337,667 | ||||||
Less: Amounts included in Current and Accrued Liabilities | (51,817 | ) | (32,841 | ) | ||||
Total Long-Term Regulatory Liabilities | $ | 346,087 | $ | 304,826 | ||||
-1 | The Company recovers the cost of its regulatory assets but generally does not earn a return on them. There are a few exceptions to this rule. For example, the Company does earn a return on Unrecovered Purchased Gas Costs and, in the New York jurisdiction of its Utility segment, earns a return, within certain parameters, on the excess of cumulative funding to the pension plan over the cumulative amount collected in rates. | |||||||
-2 | Included in Other Regulatory Assets on the Consolidated Balance Sheets. | |||||||
-3 | Amounts are included in Other Current Assets on the Consolidated Balance Sheets at September 30, 2014 and September 30, 2013 since such amounts are expected to be recovered from ratepayers in the next 12 months. | |||||||
-4 | $9,989 and $13,826 are included in Other Current Assets on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively, since such amounts are expected to be recovered from ratepayers in the next 12 months. $4,853 and $5,608 are included in Other Regulatory Assets on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively. | |||||||
-5 | Amounts are included in Other Accruals and Current Liabilities on the Consolidated Balance Sheets at September 30, 2014 and September 30, 2013 since such amounts are expected to be passed back to ratepayers in the next 12 months. | |||||||
-6 | $5,267 and $9,785 are included in Other Accruals and Current Liabilities on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively, since such amounts are expected to be recovered from ratepayers in the next 12 months. $27,502 and $23,626 are included in Other Regulatory Liabilities on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively. | |||||||
If for any reason the Company ceases to meet the criteria for application of regulatory accounting treatment for all or part of its operations, the regulatory assets and liabilities related to those portions ceasing to meet such criteria would be eliminated from the Consolidated Balance Sheets and included in income of the period in which the discontinuance of regulatory accounting treatment occurs. | ||||||||
Cost of Removal Regulatory Liability | ||||||||
In the Company’s Utility and Pipeline and Storage segments, costs of removing assets (i.e. asset retirement costs) are collected from customers through depreciation expense. These amounts are not a legal retirement obligation as discussed in Note B — Asset Retirement Obligations. Rather, they are classified as a regulatory liability in recognition of the fact that the Company has collected dollars from the customer that will be used in the future to fund asset retirement costs. | ||||||||
NYPSC Assessment | ||||||||
On April 7, 2009, the Governor of the State of New York signed into law an amendment to the Public Service Law increasing the allowed utility assessment from the then current rate of one-third of one percent to one percent of a utility’s in-state gross operating revenue, together with a temporary surcharge (expiring March 31, 2014) equal, as applied, to an additional one percent of the utility’s in-state gross operating revenue. Pursuant to a New York State budget agreement in 2014, the temporary increase in the assessment will be phased out over a three year period ending July 1, 2017. The NYPSC, in a generic proceeding initiated for the purpose of implementing the amended law, has authorized the recovery, through rates, of the full cost of the increased assessment. The assessment is currently being applied to customer bills in the Utility segment’s New York jurisdiction. | ||||||||
NYPSC Rate Proceeding | ||||||||
Following negotiations and other proceedings, on December 6, 2013, Distribution Corporation filed an agreement, also executed by the Department of Public Service and intervenors, extending existing rates through, at a minimum, September 30, 2015. Although customer rates were not changed, the parties agreed that the allowed rate of return on equity would be set, for ratemaking purposes, at 9.1%. Following conventional practice in New York, the agreement authorizes an “earnings sharing mechanism” (“ESM”). The ESM distributes earnings above the allowed rate of return as follows: from 9.5% to 10.5%, 50% would be allocated to shareholders, and 50% will be deferred for the benefit of customers; above 10.5%, 20% would be allocated to shareholders and 80% will be deferred for the benefit of customers. The agreement further authorizes, and rates reflect, an increase in Distribution Corporation’s pipeline replacement spending by $8.2 million per year. The agreement contains other terms and conditions of service that are customary for settlement agreements recently approved by the NYPSC. The Consolidated Balance Sheet at September 30, 2013 reflected a $7.5 million refund provision related to the settlement agreement. This amount was passed back to ratepayers during 2014 after the NYPSC approved the settlement agreement without modification in an order issued on May 8, 2014. | ||||||||
Off-System Sales and Capacity Release Credits | ||||||||
The Company, in its Utility segment, has entered into off-system sales and capacity release transactions. Most of the margins on such transactions are returned to the customer with only a small percentage being retained by the Company. The amount owed to the customer has been deferred as a regulatory liability. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The components of federal and state income taxes included in the Consolidated Statements of Income are as follows: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
Current Income Taxes — | ||||||||||||
Federal | $ | 34,579 | $ | (632 | ) | $ | (8 | ) | ||||
State | 12,620 | 5,503 | 6,412 | |||||||||
Deferred Income Taxes — | ||||||||||||
Federal | 116,143 | 130,318 | 111,176 | |||||||||
State | 26,272 | 37,569 | 32,974 | |||||||||
189,614 | 172,758 | 150,554 | ||||||||||
Deferred Investment Tax Credit | (434 | ) | (426 | ) | (581 | ) | ||||||
Total Income Taxes | $ | 189,180 | $ | 172,332 | $ | 149,973 | ||||||
Presented as Follows: | ||||||||||||
Other Income | $ | (434 | ) | $ | (426 | ) | $ | (581 | ) | |||
Income Tax Expense | 189,614 | 172,758 | 150,554 | |||||||||
Total Income Taxes | $ | 189,180 | $ | 172,332 | $ | 149,973 | ||||||
Total income taxes as reported differ from the amounts that were computed by applying the federal income tax rate to income before income taxes. The following is a reconciliation of this difference: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
U.S. Income Before Income Taxes | $ | 488,593 | $ | 432,333 | $ | 370,050 | ||||||
Income Tax Expense, Computed at U.S. Federal Statutory Rate of 35% | $ | 171,008 | $ | 151,317 | $ | 129,518 | ||||||
Increase (Reduction) in Taxes Resulting from: | ||||||||||||
State Income Taxes | 25,280 | 27,997 | 25,601 | |||||||||
Miscellaneous | (7,108 | ) | (6,982 | ) | (5,146 | ) | ||||||
Total Income Taxes | $ | 189,180 | $ | 172,332 | $ | 149,973 | ||||||
Significant components of the Company’s deferred tax liabilities and assets were as follows: | ||||||||||||
At September 30 | ||||||||||||
2014 | 2013 | |||||||||||
(Thousands) | ||||||||||||
Deferred Tax Liabilities: | ||||||||||||
Property, Plant and Equipment | $ | 1,614,515 | $ | 1,504,187 | ||||||||
Pension and Other Post-Retirement Benefit Costs | 113,248 | 124,021 | ||||||||||
Other | 87,935 | 75,419 | ||||||||||
Total Deferred Tax Liabilities | 1,815,698 | 1,703,627 | ||||||||||
Deferred Tax Assets: | ||||||||||||
Pension and Other Post-Retirement Benefit Costs | (124,452 | ) | (130,256 | ) | ||||||||
Tax Loss and Credit Carryforwards | (171,423 | ) | (215,262 | ) | ||||||||
Other | (103,863 | ) | (90,461 | ) | ||||||||
Total Deferred Tax Assets | (399,738 | ) | (435,979 | ) | ||||||||
Total Net Deferred Income Taxes | $ | 1,415,960 | $ | 1,267,648 | ||||||||
Presented as Follows: | ||||||||||||
Deferred Tax Liability/(Asset) — Current | $ | (40,323 | ) | $ | (79,359 | ) | ||||||
Deferred Tax Liability — Non-Current | 1,456,283 | 1,347,007 | ||||||||||
Total Net Deferred Income Taxes | $ | 1,415,960 | $ | 1,267,648 | ||||||||
As a result of certain realization requirements of the authoritative guidance on stock-based compensation, the table of deferred tax liabilities and assets shown above does not include certain deferred tax assets that arose directly from excess tax deductions related to stock-based compensation. Tax benefits of $4.6 million and $0.7 million relating to the excess stock-based compensation deductions were recorded in Paid in Capital during the years ended September 30, 2014 and September 30, 2013, respectively. Cumulative tax benefits of $34.2 million remain as of September 30, 2014 and September 30, 2013 and will be recorded in Paid in Capital in future years when such tax benefits are realized. | ||||||||||||
Regulatory liabilities representing the reduction of previously recorded deferred income taxes associated with rate-regulated activities that are expected to be refundable to customers amounted to $91.7 million and $85.7 million at September 30, 2014 and 2013, respectively. Also, regulatory assets representing future amounts collectible from customers, corresponding to additional deferred income taxes not previously recorded because of prior ratemaking practices, amounted to $163.5 million and $163.4 million at September 30, 2014 and 2013, respectively. Included in the above are regulatory liabilities and assets relating to the tax accounting method change noted below. The amounts are as follows: regulatory liabilities of $52.6 million as of September 30, 2014 and 2013 and regulatory assets of $85.3 million and $82.5 million as of September 30, 2014 and 2013, respectively. | ||||||||||||
The following is a reconciliation of the change in unrecognized tax benefits: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
Balance at Beginning of Year | $ | 2,001 | $ | 11,170 | $ | 7,766 | ||||||
Additions for Tax Positions Related to Current Year | — | 700 | 1,600 | |||||||||
Additions for Tax Positions of Prior Years | 2,447 | 164 | 2,751 | |||||||||
Reductions for Tax Positions of Prior Years | (1,301 | ) | (10,033 | ) | (947 | ) | ||||||
Balance at End of Year | $ | 3,147 | $ | 2,001 | $ | 11,170 | ||||||
As a result of certain examinations in progress (discussed below), the Company anticipates the balance of unrecognized tax benefits could be reduced during the next 12 months. As of September 30, 2014, the entire balance of unrecognized tax benefits would favorably impact the effective tax rate, if recognized. | ||||||||||||
The IRS is currently conducting examinations of the Company for fiscal 2014 and fiscal 2013 in accordance with the Compliance Assurance Process (“CAP”). The CAP audit employs a real time review of the Company’s books and tax records by the IRS that is intended to permit issue resolution prior to the filing of the tax return. The federal statute of limitations remains open for fiscal 2009 and later years. During fiscal 2009, consent was received from the IRS National Office approving the Company’s application to change its tax method of accounting for certain capitalized costs relating to its utility property. During the year ended September 30, 2013, local IRS examiners issued no-change reports for fiscal 2009, fiscal 2010 and fiscal 2011. During the year ended September 30, 2014, local IRS examiners issued a no-change report for fiscal 2012. The IRS has reserved the right to re-examine these years, pending the anticipated issuance of IRS guidance addressing the issue for natural gas utilities. | ||||||||||||
The Company is also subject to various routine state income tax examinations. The Company’s principal subsidiaries operate mainly in four states which have statutes of limitations that generally expire between three to four years from the date of filing of the income tax return. | ||||||||||||
As of September 30, 2014, the Company has a federal net operating loss (NOL) carryover of $367 million, which expires in varying amounts between 2023 and 2033, and minimum tax credit carryforwards of $36 million, that have no expiration date. Approximately $10 million of the NOL carryforward is subject to certain annual limitations, and $87 million is attributable to excess tax deductions related to stock-based compensation as discussed above. In addition, the Company has state NOL carryovers in Pennsylvania, California and New York of $297 million, $183 million and $103 million, respectively, which begin to expire in varying amounts between 2025 and 2033. | ||||||||||||
On March 31, 2014, the New York State fiscal year 2014-2015 Executive Budget legislation was signed into law. This legislation included numerous tax provisions, including a reduction of the corporate tax rate from 7.1% to 6.5%, effective for tax years beginning after January 1, 2016. This provision resulted in a tax benefit of approximately $2.8 million, which is reflected in the accompanying financial statements. |
Capitalization_And_ShortTerm_B
Capitalization And Short-Term Borrowings | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Capitalization And Short-Term Borrowings [Abstract] | ' | ||||||||||||||||||
Capitalization And Short-Term Borrowings | ' | ||||||||||||||||||
Capitalization and Short-Term Borrowings | |||||||||||||||||||
Summary of Changes in Common Stock Equity | |||||||||||||||||||
Paid In | Earnings | Accumulated | |||||||||||||||||
Common Stock | Capital | Reinvested | Other | ||||||||||||||||
in the | Comprehensive | ||||||||||||||||||
Business | Income | ||||||||||||||||||
Shares | Amount | (Loss) | |||||||||||||||||
(Thousands, except per share amounts) | |||||||||||||||||||
Balance at September 30, 2011 | 82,813 | $ | 82,813 | $ | 650,749 | $ | 1,206,022 | $ | (47,699 | ) | |||||||||
Net Income Available for Common Stock | 220,077 | ||||||||||||||||||
Dividends Declared on Common Stock ($1.44 Per Share) | (119,815 | ) | |||||||||||||||||
Other Comprehensive Loss, Net of Tax | (51,321 | ) | |||||||||||||||||
Share-Based Payment Expense(2) | 7,156 | ||||||||||||||||||
Common Stock Issued Under Stock and Benefit Plans(1) | 517 | 517 | 11,596 | ||||||||||||||||
Balance at September 30, 2012 | 83,330 | 83,330 | 669,501 | 1,306,284 | (99,020 | ) | |||||||||||||
Net Income Available for Common Stock | 260,001 | ||||||||||||||||||
Dividends Declared on Common Stock ($1.48 Per Share) | (123,668 | ) | |||||||||||||||||
Other Comprehensive Income, Net of Tax | 79,786 | ||||||||||||||||||
Share-Based Payment Expense(2) | 11,537 | ||||||||||||||||||
Common Stock Issued Under Stock and Benefit Plans(1) | 332 | 332 | 6,646 | ||||||||||||||||
Balance at September 30, 2013 | 83,662 | 83,662 | 687,684 | 1,442,617 | (19,234 | ) | |||||||||||||
Net Income Available for Common Stock | 299,413 | ||||||||||||||||||
Dividends Declared on Common Stock ($1.52 Per Share) | (127,669 | ) | |||||||||||||||||
Other Comprehensive Income, Net of Tax | 15,255 | ||||||||||||||||||
Share-Based Payment Expense(2) | 10,654 | ||||||||||||||||||
Common Stock Issued Under Stock and Benefit Plans(1) | 495 | 495 | 17,806 | ||||||||||||||||
Balance at September 30, 2014 | 84,157 | $ | 84,157 | $ | 716,144 | $ | 1,614,361 | -3 | $ | (3,979 | ) | ||||||||
-1 | Paid in Capital includes tax benefits of $4.6 million, $0.7 million and $1.0 million for September 30, 2014, 2013 and 2012, respectively, related to stock-based compensation. | ||||||||||||||||||
-2 | Paid in Capital includes compensation costs associated with stock option, SARs, performance share and/or restricted stock awards. The expense is included within Net Income Available For Common Stock, net of tax benefits. | ||||||||||||||||||
-3 | The availability of consolidated earnings reinvested in the business for dividends payable in cash is limited under terms of the indentures covering long-term debt. At September 30, 2014, $1.5 billion of accumulated earnings was free of such limitations. | ||||||||||||||||||
Common Stock | |||||||||||||||||||
The Company has various plans which allow shareholders, employees and others to purchase shares of the Company common stock. The National Fuel Gas Company Direct Stock Purchase and Dividend Reinvestment Plan allows shareholders to reinvest cash dividends and make cash investments in the Company’s common stock and provides investors the opportunity to acquire shares of the Company common stock without the payment of any brokerage commissions in connection with such acquisitions. The 401(k) Plans allow employees the opportunity to invest in the Company common stock, in addition to a variety of other investment alternatives. Generally, at the discretion of the Company, shares purchased under these plans are either original issue shares purchased directly from the Company or shares purchased on the open market by an independent agent. During 2014, the Company issued 93,731 original issue shares of common stock for the Direct Stock Purchase and Dividend Reinvestment Plan and 69,729 original issue shares of common stock for the Company's 401(k) plans. | |||||||||||||||||||
During 2014, the Company issued 433,602 original issue shares of common stock as a result of stock option and SARs exercises and 12,432 original issue shares of common stock for restricted stock units that vested. Holders of stock options, SARs, restricted share awards or restricted stock units will often tender shares of common stock to the Company for payment of option exercise prices and/or applicable withholding taxes. During 2014, 126,321 shares of common stock were tendered to the Company for such purposes. The Company considers all shares tendered as cancelled shares restored to the status of authorized but unissued shares, in accordance with New Jersey law. There were also 3,334 restricted stock award shares forfeited during 2014. | |||||||||||||||||||
The Company also has a director stock program under which it issues shares of Company common stock to the non-employee directors of the Company who receive compensation under the Company’s 2009 Non-Employee Director Equity Compensation Plan, as partial consideration for the directors’ services during the fiscal year. Under this program, the Company issued 15,412 original issue shares of common stock during 2014. | |||||||||||||||||||
Shareholder Rights Plan | |||||||||||||||||||
In 1996, the Company’s Board of Directors adopted a shareholder rights plan (Plan). The Plan has been amended several times since it was adopted and is now embodied in an Amended and Restated Rights Agreement effective December 4, 2008, a copy of which was included as an exhibit to the Form 8-K filed by the Company on December 4, 2008. | |||||||||||||||||||
Pursuant to the Plan, the holders of the Company’s common stock have one right (Right) for each of their shares. Each Right is initially evidenced by the Company’s common stock certificates representing the outstanding shares of common stock. | |||||||||||||||||||
The Rights have anti-takeover effects because they will cause substantial dilution of the Company’s common stock if a person (an Acquiring Person) attempts to acquire the Company on terms not approved by the Board of Directors. | |||||||||||||||||||
The Rights become exercisable upon the occurrence of a Distribution Date as described below, but after a Distribution Date Rights that are owned by an Acquiring Person will be null and void. At any time following a Distribution Date, each holder of a Right may exercise its right to receive, upon payment of an amount calculated under the Rights Agreement, common stock of the Company (or, under certain circumstances, other securities or assets of the Company) having a value equal to two times the amount paid to exercise the Right. However, the Rights are subject to redemption or exchange by the Company prior to their exercise as described below. | |||||||||||||||||||
A Distribution Date would occur upon the earlier of (i) ten days after the public announcement that a person or group has acquired, or obtained the right to acquire, beneficial ownership of the Company’s common stock or other voting stock (including Synthetic Long Positions as defined in the Plan) having 10% or more of the total voting power of the Company’s common stock and other voting stock and (ii) ten days after the commencement or announcement by a person or group of an intention to make a tender or exchange offer that would result in that person acquiring, or obtaining the right to acquire, beneficial ownership of the Company’s common stock or other voting stock having 10% or more of the total voting power of the Company’s common stock and other voting stock. | |||||||||||||||||||
In certain situations after a person or group has acquired beneficial ownership of 10% or more of the total voting power of the Company’s stock as described above, each holder of a Right will have the right to exercise its Rights to receive, upon exercise of the right, common stock of the acquiring company having a value equal to two times the amount paid to exercise the right. These situations would arise if the Company is acquired in a merger or other business combination or if 50% or more of the Company’s assets or earning power are sold or transferred. | |||||||||||||||||||
At any time prior to the end of the business day on the tenth day following the Distribution Date, the Company may redeem the Rights in whole, but not in part, at a price of $0.005 per Right, payable in cash or stock. A decision to redeem the Rights requires the vote of 75% of the Company’s full Board of Directors. Also, at any time following the Distribution Date, 75% of the Company’s full Board of Directors may vote to exchange the Rights, in whole or in part, at an exchange rate of one share of common stock, or other property deemed to have the same value, per Right, subject to certain adjustments. | |||||||||||||||||||
Upon exercise of the Rights, the Company may need additional regulatory approvals to satisfy the requirements of the Rights Agreement. The Rights will expire on July 31, 2018, unless earlier than that date, they are exchanged or redeemed or the Plan is amended to extend the expiration date. | |||||||||||||||||||
Stock Option and Stock Award Plans | |||||||||||||||||||
The Company has various stock option and stock award plans which provide or provided for the issuance of one or more of the following to key employees: incentive stock options, nonqualified stock options, SARs, restricted stock, restricted stock units, performance units or performance shares. | |||||||||||||||||||
Stock-based compensation expense for the years ended September 30, 2014, 2013 and 2012 was approximately $10.5 million, $11.5 million, and $7.2 million, respectively. Stock-based compensation expense is included in operation and maintenance expense on the Consolidated Statements of Income. The total income tax benefit related to stock-based compensation expense during the years ended September 30, 2014, 2013 and 2012 was approximately $4.3 million, $4.6 million and $2.9 million, respectively. A portion of stock-based compensation expense is subject to capitalization under IRS uniform capitalization rules. Stock-based compensation of $0.1 million and less than $0.1 million was capitalized under these rules during the years ended September 30, 2014 and 2013, respectively. Nothing was capitalized during the year ended September 30, 2012. | |||||||||||||||||||
The Company realized excess tax benefits related to stock-based compensation of $3.1 million, $3.6 million, and $14.2 million for the fiscal years ended September 30, 2014, 2013 and 2012, respectively. The Company recorded tax benefits of $4.6 million, $0.7 million, and $1.0 million in the fiscal years ended September 30, 2014, 2013 and 2012, respectively, due to tax loss carryforwards. | |||||||||||||||||||
Stock Options | |||||||||||||||||||
Transactions involving option shares for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||
Shares Subject | Average | Average | Intrinsic | ||||||||||||||||
to Option | Exercise Price | Remaining | Value | ||||||||||||||||
Contractual | |||||||||||||||||||
Life (Years) | |||||||||||||||||||
(In thousands) | |||||||||||||||||||
Outstanding at September 30, 2013 | 803,500 | $ | 34.71 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Exercised in 2014 | (321,500 | ) | $ | 31.71 | |||||||||||||||
Forfeited in 2014 | — | $ | — | ||||||||||||||||
Outstanding at September 30, 2014 | 482,000 | $ | 36.71 | 1.8 | $ | 16,039 | |||||||||||||
Option shares exercisable at September 30, 2014 | 482,000 | $ | 36.71 | 1.8 | $ | 16,039 | |||||||||||||
Option shares available for future grant at September 30, 2014(1) | 712,232 | ||||||||||||||||||
-1 | Includes shares available for SARs, restricted stock and performance share grants. | ||||||||||||||||||
The total intrinsic value of stock options exercised during the years ended September 30, 2014, 2013 and 2012 totaled approximately $13.7 million, $11.6 million, and $13.5 million, respectively. For 2014, 2013 and 2012, the amount of cash received by the Company from the exercise of such stock options was approximately $7.4 million, $2.6 million, and $7.6 million, respectively. The Company last granted stock options in fiscal 2007 and all outstanding stock options have been fully vested since fiscal 2010. | |||||||||||||||||||
SARs | |||||||||||||||||||
Transactions involving SARs for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||
Shares Subject | Average | Average | Intrinsic | ||||||||||||||||
To Option | Exercise Price | Remaining | Value | ||||||||||||||||
Contractual | |||||||||||||||||||
Life (Years) | |||||||||||||||||||
(In thousands) | |||||||||||||||||||
Outstanding at September 30, 2013 | 2,002,704 | $ | 46.73 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Exercised in 2014 | (209,222 | ) | $ | 34.9 | |||||||||||||||
Forfeited in 2014 | — | $ | — | ||||||||||||||||
Canceled in 2014 | — | $ | — | ||||||||||||||||
Outstanding at September 30, 2014 | 1,793,482 | $ | 48.11 | 5.93 | $ | 39,246 | |||||||||||||
SARs exercisable at September 30, 2014 | 1,434,023 | $ | 46.65 | 5.45 | $ | 33,466 | |||||||||||||
The Company granted 412,970 and 166,000 SARs during the years ended September 30, 2013 and 2012, respectively. The weighted average grant date fair value of SARs granted in 2013 and 2012 was $10.66 per share and $11.20 per share, respectively. The SARs granted in 2013 may be settled in cash, in shares of common stock of the Company, or in a combination of cash and shares of common stock of the Company, as determined by the Company. The SARs granted in 2012 will be settled in shares of common stock of the Company. The Company’s SARs include both performance based and non-performance based SARs, but the performance conditions associated with the performance based SARs at the time of grant have all been subsequently met. The SARs are considered equity awards under the current authoritative guidance for stock-based compensation. The accounting for SARs is the same as the accounting for stock options. The SARs granted during the year ended September 30, 2013 vest and become exercisable annually in one-third increments. The SARs granted during the year ended September 30, 2012 vest annually in one-third increments and become exercisable on the third anniversary of the date of grant. The weighted average grant date fair value of the SARs granted during the years ended September 30, 2013 and 2012 was estimated on the date of grant using the same accounting treatment that is applied for stock options. | |||||||||||||||||||
The total intrinsic value of SARs exercised during the years ended September 30, 2014, 2013 and 2012 totaled approximately $8.4 million, $0.8 million, and less than $0.1 million, respectively. For the years ended September 30, 2014, 2013 and 2012, 323,188 SARs, 287,168 SARs and 435,169 SARs, respectively, became fully vested. The total fair value of the SARs that became vested during each of the years ended September 30, 2014, 2013 and 2012 was approximately $3.8 million, $3.6 million and $3.8 million, respectively. As of September 30, 2014, unrecognized compensation expense related to SARs totaled approximately $0.5 million, which will be recognized over a weighted average period of 8 months. | |||||||||||||||||||
The fair value of SARs at the date of grant was estimated using the Black-Scholes-Merton closed form model. The risk-free interest rate is based on the yield of a Treasury Note with a remaining term commensurate with the expected term of the SARs. The expected life is based on historical experience and the expected volatility is based on historical daily stock price returns. For SARs grants during the years ended September 30, 2013 and 2012, it was assumed that there would be no forfeitures, based on the vesting term and the number of grantees. The following weighted average assumptions were used in estimating the fair value of SARs at the date of grant: | |||||||||||||||||||
Year Ended September 30 | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Risk-Free Interest Rate | N/A | 1.55 | % | 1.59 | % | ||||||||||||||
Expected Life (Years) | N/A | 8.25 | 8.25 | ||||||||||||||||
Expected Volatility | N/A | 25.61 | % | 24.97 | % | ||||||||||||||
Expected Dividend Yield (Quarterly) | N/A | 0.69 | % | 0.64 | % | ||||||||||||||
Restricted Share Awards | |||||||||||||||||||
Transactions involving restricted share awards for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted Average | ||||||||||||||||||
Restricted | Fair Value per | ||||||||||||||||||
Share Awards | Award | ||||||||||||||||||
Outstanding at September 30, 2013 | 127,453 | $ | 51.69 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Vested in 2014 | (34,601 | ) | $ | 58.17 | |||||||||||||||
Forfeited in 2014 | (3,334 | ) | $ | 55.09 | |||||||||||||||
Outstanding at September 30, 2014 | 89,518 | $ | 49.05 | ||||||||||||||||
The Company did not grant any restricted share awards (non-vested stock as defined by the current accounting literature) during the year ended September 30, 2013. The Company granted 41,525 restricted share awards during the year ended September 30, 2012 with a weighted average grant date fair value of $55.09 per share. As of September 30, 2014, unrecognized compensation expense related to restricted share awards totaled approximately $1.3 million, which will be recognized over a weighted average period of 2.7 years. | |||||||||||||||||||
Vesting restrictions for the outstanding shares of non-vested restricted stock at September 30, 2014 will lapse as follows: 2015 — 29,518 shares; 2016 — 5,000 shares; 2018 — 35,000 shares; and 2021 — 20,000 shares. | |||||||||||||||||||
Restricted Stock Units | |||||||||||||||||||
Transactions involving non-performance based restricted stock units for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted Average | ||||||||||||||||||
Restricted | Fair Value per | ||||||||||||||||||
Stock Units | Award | ||||||||||||||||||
Outstanding at September 30, 2013 | 143,500 | $ | 51.53 | ||||||||||||||||
Granted in 2014 | 82,151 | $ | 65.24 | ||||||||||||||||
Vested in 2014 | (12,432 | ) | $ | 60.54 | |||||||||||||||
Forfeited in 2014 | (8,700 | ) | $ | 54.53 | |||||||||||||||
Outstanding at September 30, 2014 | 204,519 | $ | 56.36 | ||||||||||||||||
The Company also granted 44,200 and 68,450 non-performance based restricted stock units during the years ended September 30, 2013 and 2012, respectively. The weighted average fair value of such non-performance based restricted stock units granted in 2013 and 2012 was $51.11 per share and $47.10 per share, respectively. As of September 30, 2014, unrecognized compensation expense related to non-performance based restricted stock units totaled approximately $5.4 million, which will be recognized over a weighted average period of 1.7 years. | |||||||||||||||||||
Vesting restrictions for the non-performance based restricted stock units outstanding at September 30, 2014 will lapse as follows: 2015 — 49,340 units; 2016 — 61,534 units; 2017 — 59,893 units; 2018 — 22,967 units; and 2019 - 10,785 units. | |||||||||||||||||||
Transactions involving performance based restricted stock units for all plans are summarized as follows: | |||||||||||||||||||
Number of Performance Based | Weighted Average | ||||||||||||||||||
Restricted Stock Units | Fair Value per | ||||||||||||||||||
Award | |||||||||||||||||||
Outstanding at September 30, 2013 | 255,604 | $ | 49.51 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Vested in 2014 | — | $ | — | ||||||||||||||||
Forfeited in 2014 | (21,728 | ) | $ | 48.49 | |||||||||||||||
Outstanding at September 30, 2014 | 233,876 | $ | 49.61 | ||||||||||||||||
The Company granted 255,604 performance based restricted stock units during the year ended September 30, 2013 with a weighted average grant date fair value of $49.51 per share. The Company did not grant any performance based restricted stock units during the year ended September 30, 2012. The performance based restricted stock units granted during the year ended September 30, 2013 must meet a performance condition over the performance cycle of October 1, 2012 to September 30, 2015. The performance condition over the performance cycle, generally stated, is the Company’s total return on capital as compared to the same metric for companies in the Natural Gas Distribution and Integrated Natural Gas Companies group as calculated and reported in the Monthly Utility Reports of AUS, Inc., a leading industry consultant. The number of performance based restricted stock units that will vest will depend upon the Company’s performance relative to the report group and not upon the absolute level of return achieved by the Company. As of September 30, 2014, unrecognized compensation expense related to performance based restricted stock units totaled approximately $3.1 million, which will be recognized over a weighted average period of 1 year. Vesting restrictions will lapse during fiscal 2016 for the 233,876 performance based restricted stock units outstanding at September 30, 2014. | |||||||||||||||||||
Performance Shares | |||||||||||||||||||
Transactions involving performance shares for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted Average | ||||||||||||||||||
Performance | Fair Value per | ||||||||||||||||||
Shares | Award | ||||||||||||||||||
Outstanding at September 30, 2013 | — | $ | — | ||||||||||||||||
Granted in 2014 | 116,090 | $ | 67.16 | ||||||||||||||||
Vested in 2014 | — | $ | — | ||||||||||||||||
Forfeited in 2014 | (17,624 | ) | $ | 67.16 | |||||||||||||||
Outstanding at September 30, 2014 | 98,466 | $ | 67.16 | ||||||||||||||||
The Company did not grant any performance shares during the years ended September 30, 2013 and 2012. As of September 30, 2014, unrecognized compensation expense related to performance shares totaled approximately $4.6 million, which will be recognized over a weighted average period of 1.5 years. Vesting restrictions will lapse during fiscal 2017 for the 98,466 performance shares outstanding at September 30, 2014. | |||||||||||||||||||
Half of the performance shares granted during the year ended September 30, 2014 must meet a performance goal related to relative return on capital over the performance cycle of October 1, 2013 to September 30, 2016. The performance goal over the performance cycle is the Company’s total return on capital relative to the total return on capital of other companies in a group selected by the Compensation Committee (“Report Group”). Total return on capital for a given company means the average of the Report Group companies’ returns on capital for each twelve month period corresponding to each of the Company’s fiscal years during the performance cycle, based on data reported for the Report Group companies in the Bloomberg database. The number of these performance shares that will vest and be paid will depend upon the Company’s performance relative to the Report Group and not upon the absolute level of return achieved by the Company. The fair value of these performance shares is calculated by multiplying the expected number of shares that will be issued by the average market price of Company common stock on the date of grant reduced by the present value of forgone dividends over the vesting term of the award. The fair value is recorded as compensation expense over the vesting term of the award. | |||||||||||||||||||
The other half of the performance shares granted during the year ended September 30, 2014 must meet a performance goal related to relative total shareholder return over the performance cycle of October 1, 2013 to September 30, 2016. The performance goal over the performance cycle is the Company’s three-year total shareholder return relative to the three-year total shareholder return of the other companies in the Report Group. Three-year total shareholder return for a given company will be based on the data reported for that company (with the starting and ending stock prices over the performance cycle calculated as the average closing stock price for the prior calendar month and with dividends reinvested in that company’s securities at each ex-dividend date) in the Bloomberg database. The number of these total shareholder return performance shares (“TSR performance shares”) that will vest and be paid will depend upon the Company’s performance relative to the Report Group and not upon the absolute level of return achieved by the Company. The fair value price at the date of grant for the TSR performance shares is determined using a Monte Carlo simulation technique, which includes a reduction in value for the present value of forgone dividends over the vesting term of the award. This price is multiplied by the number of TSR performance shares awarded, the result of which is recorded as compensation expense over the vesting term of the award. In calculating fair value of the award, the risk-free interest rate is based on the yield of a Treasury Note with a term commensurate with the remaining term of the TSR performance shares. The remaining term is based on the remainder of the performance cycle as of the date of grant. The expected volatility is based on historical daily stock price returns. For the TSR performance shares, it was assumed that there would be no forfeitures, based on the vesting term and the number of grantees. The following assumptions were used in estimating the fair value of the TSR performance shares at the date of grant: | |||||||||||||||||||
Year Ended September 30 | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Risk-Free Interest Rate | 0.62 | % | N/A | N/A | |||||||||||||||
Remaining Term at Date of Grant (Years) | 2.78 | N/A | N/A | ||||||||||||||||
Expected Volatility | 28.3 | % | N/A | N/A | |||||||||||||||
Expected Dividend Yield (Quarterly) | N/A | N/A | N/A | ||||||||||||||||
Redeemable Preferred Stock | |||||||||||||||||||
As of September 30, 2014, there were 10,000,000 shares of $1 par value Preferred Stock authorized but unissued. | |||||||||||||||||||
Long-Term Debt | |||||||||||||||||||
The outstanding long-term debt is as follows: | |||||||||||||||||||
At September 30 | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
(Thousands) | |||||||||||||||||||
Medium-Term Notes(1): | |||||||||||||||||||
7.4% due March 2023 to June 2025 | $ | 99,000 | $ | 99,000 | |||||||||||||||
Notes(1)(3): | |||||||||||||||||||
3.75% to 8.75% due April 2018 to March 2023 | 1,550,000 | 1,550,000 | |||||||||||||||||
Total Long-Term Debt | 1,649,000 | 1,649,000 | |||||||||||||||||
Less Current Portion(2) | — | — | |||||||||||||||||
$ | 1,649,000 | $ | 1,649,000 | ||||||||||||||||
-1 | The Medium-Term Notes and Notes are unsecured. | ||||||||||||||||||
-2 | None of the Company’s long-term debt at September 30, 2014 and 2013 will mature within the following twelve-month period. | ||||||||||||||||||
-3 | The holders of these notes may require the Company to repurchase their notes at a price equal to 101% of the principal amount in the event of both a change in control and a ratings downgrade to a rating below investment grade. | ||||||||||||||||||
On February 15, 2013, the Company issued $500 million of 3.75% notes due March 1, 2023. After deducting underwriting discounts and commissions, the net proceeds to the Company amounted to $495.4 million. The proceeds of this debt issuance were used to refund the $250.0 million of 5.25% notes that matured in March 2013, as well as for general corporate purposes, including the reduction of short-term debt. | |||||||||||||||||||
As of September 30, 2014, the aggregate principal amounts of long-term debt maturing during the next five years and thereafter are as follows: zero for 2015 through 2017, $300.0 million in 2018, $250.0 million in 2019 and $1,099.0 million thereafter. | |||||||||||||||||||
Short-Term Borrowings | |||||||||||||||||||
The Company historically has obtained short-term funds either through bank loans or the issuance of commercial paper. The Company maintains a $750.0 million syndicated committed credit facility, which commitment extends through January 6, 2017. The Company also has a number of individual uncommitted or discretionary lines of credit with certain financial institutions for general corporate purposes. Borrowings under the uncommitted lines of credit are made at competitive market rates. The uncommitted credit lines are reviewed on an annual basis. The Company anticipates that its uncommitted lines of credit generally will be renewed or substantially replaced by similar lines. The total amount available to be issued under the Company’s commercial paper program is $300.0 million. At September 30, 2014, the commercial paper program was backed by the $750.0 million syndicated committed credit facility. | |||||||||||||||||||
At September 30, 2014, the Company had outstanding commercial paper of $85.6 million. The Company did not have any outstanding notes payable to banks at September 30, 2014. At September 30, 2014, the weighted average interest rate on the commercial paper was 0.31% . The Company had no outstanding commercial paper and short-term notes payable to banks at September 30, 2013. | |||||||||||||||||||
Debt Restrictions | |||||||||||||||||||
Under the committed credit facility, the Company agreed that its debt to capitalization ratio will not exceed .65 at the last day of any fiscal quarter through January 6, 2017. At September 30, 2014, the Company’s debt to capitalization ratio (as calculated under the facility) was .42. The constraints specified in the committed credit facility would have permitted an additional $2.74 billion in short-term and/or long-term debt to be outstanding (further limited by the indenture covenants discussed below) before the Company’s debt to capitalization ratio exceeded .65. | |||||||||||||||||||
If a downgrade in any of the Company’s credit ratings were to occur, access to the commercial paper markets might not be possible. However, the Company expects that it could borrow under its committed credit facility, uncommitted bank lines of credit or rely upon other liquidity sources, including cash provided by operations. | |||||||||||||||||||
The Company’s $750.0 million committed credit facility contains a cross-default provision whereby the failure by the Company or its significant subsidiaries to make payments under other borrowing arrangements, or the occurrence of certain events affecting those other borrowing arrangements, could trigger an obligation to repay any amounts outstanding under the committed credit facility. In particular, a repayment obligation could be triggered if (i) the Company or any of its significant subsidiaries fails to make a payment when due of any principal or interest on any other indebtedness aggregating $40.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $40.0 million or more to cause, such indebtedness to become due prior to its stated maturity. As of September 30, 2014, the Company had no debt outstanding under the committed credit facility. | |||||||||||||||||||
Under the Company’s existing indenture covenants, at September 30, 2014, the Company would have been permitted to issue up to a maximum of $1.92 billion in additional long-term unsecured indebtedness at then current market interest rates in addition to being able to issue new indebtedness to replace maturing debt. The Company’s present liquidity position is believed to be adequate to satisfy known demands. However, if the Company were to experience a significant loss in the future (for example, as a result of an impairment of oil and gas properties), it is possible, depending on factors including the magnitude of the loss, that these indenture covenants would restrict the Company’s ability to issue additional long-term unsecured indebtedness for a period of up to nine calendar months, beginning with the fourth calendar month following the loss. This would not at any time preclude the Company from issuing new indebtedness to replace maturing debt. | |||||||||||||||||||
The Company’s 1974 indenture pursuant to which $99.0 million (or 6.0%) of the Company’s long-term debt (as of September 30, 2014) was issued, contains a cross-default provision whereby the failure by the Company to perform certain obligations under other borrowing arrangements could trigger an obligation to repay the debt outstanding under the indenture. In particular, a repayment obligation could be triggered if the Company fails (i) to pay any scheduled principal or interest on any debt under any other indenture or agreement, or (ii) to perform any other term in any other such indenture or agreement, and the effect of the failure causes, or would permit the holders of the debt to cause, the debt under such indenture or agreement to become due prior to its stated maturity, unless cured or waived. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
The FASB authoritative guidance regarding fair value measurements establishes a fair-value hierarchy and prioritizes the inputs used in valuation techniques that measure fair value. Those inputs are prioritized into three levels. Level 1 inputs are unadjusted quoted prices in active markets for assets or liabilities that the Company can access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly at the measurement date. Level 3 inputs are unobservable inputs for the asset or liability at the measurement date. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. | ||||||||||||||||||||
The following table sets forth, by level within the fair value hierarchy, the Company’s financial assets and liabilities (as applicable) that were accounted for at fair value on a recurring basis as of September 30, 2014 and 2013. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The fair value presentation for over the counter swaps has been changed to combine gas and oil swaps at both September 30, 2014 and September 30, 2013. In the September 30, 2013 Form 10-K, gas swaps were reported separately from oil swaps. This change in presentation was made because a significant number of the counterparties enter into both gas and oil swap agreements with the Company. | ||||||||||||||||||||
At Fair Value as of September 30, 2014 | ||||||||||||||||||||
Recurring Fair Value Measures | Level 1 | Level 2 | Level 3 | Netting | Total(1) | |||||||||||||||
Adjustments(1) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Cash Equivalents — Money Market Mutual Funds | $ | 23,794 | $ | — | $ | — | $ | — | $ | 23,794 | ||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | 2,725 | — | — | (1,987 | ) | 738 | ||||||||||||||
Over the Counter Swaps — Gas and Oil | — | 75,951 | 1,368 | (5,451 | ) | 71,868 | ||||||||||||||
Other Investments: | ||||||||||||||||||||
Balanced Equity Mutual Fund | 35,331 | — | — | — | 35,331 | |||||||||||||||
Common Stock — Financial Services Industry | 6,629 | — | — | — | 6,629 | |||||||||||||||
Other Common Stock | 455 | — | — | — | 455 | |||||||||||||||
Hedging Collateral Deposits | 2,734 | — | — | — | 2,734 | |||||||||||||||
Total | $ | 71,668 | $ | 75,951 | $ | 1,368 | $ | (7,438 | ) | $ | 141,549 | |||||||||
Liabilities: | ||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | $ | 2,674 | $ | — | $ | — | $ | (1,987 | ) | $ | 687 | |||||||||
Over the Counter Swaps — Gas and Oil | — | 5,523 | — | (5,451 | ) | 72 | ||||||||||||||
Total | $ | 2,674 | $ | 5,523 | $ | — | $ | (7,438 | ) | $ | 759 | |||||||||
Total Net Assets/(Liabilities) | $ | 68,994 | $ | 70,428 | $ | 1,368 | $ | — | $ | 140,790 | ||||||||||
At Fair Value as of September 30, 2013 | ||||||||||||||||||||
Recurring Fair Value Measures | Level 1 | Level 2 | Level 3 | Netting | Total(1) | |||||||||||||||
Adjustments(1) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Cash Equivalents — Money Market Mutual Funds | $ | 51,332 | $ | — | $ | — | $ | — | $ | 51,332 | ||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | 2,552 | — | — | (1,641 | ) | 911 | ||||||||||||||
Over the Counter Swaps — Gas and Oil | — | 57,070 | — | (9,003 | ) | 48,067 | ||||||||||||||
Other Investments: | ||||||||||||||||||||
Balanced Equity Mutual Fund | 31,813 | — | — | — | 31,813 | |||||||||||||||
Common Stock — Financial Services Industry | 6,544 | — | — | — | 6,544 | |||||||||||||||
Other Common Stock | 330 | — | — | — | 330 | |||||||||||||||
Hedging Collateral Deposits | 1,094 | — | — | — | 1,094 | |||||||||||||||
Total | $ | 93,665 | $ | 57,070 | $ | — | $ | (10,644 | ) | $ | 140,091 | |||||||||
Liabilities: | ||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | $ | 1,641 | $ | — | $ | — | $ | (1,641 | ) | $ | — | |||||||||
Over the Counter Swaps — Gas and Oil | — | 4,452 | 5,190 | (9,003 | ) | 639 | ||||||||||||||
Total | $ | 1,641 | $ | 4,452 | $ | 5,190 | $ | (10,644 | ) | $ | 639 | |||||||||
Total Net Assets/(Liabilities) | $ | 92,024 | $ | 52,618 | $ | (5,190 | ) | $ | — | $ | 139,452 | |||||||||
-1 | Netting Adjustments represent the impact of legally-enforceable master netting arrangements that allow the Company to net gain and loss positions held with the same counterparties. The net asset or net liability for each counterparty is recorded as an asset or liability on the Company’s balance sheet. | |||||||||||||||||||
Derivative Financial Instruments | ||||||||||||||||||||
At September 30, 2014 and 2013, the derivative financial instruments reported in Level 1 consist of natural gas NYMEX and ICE futures contracts used in the Company’s Energy Marketing segment. Hedging collateral deposits of $2.7 million (at September 30, 2014) and $1.1 million (at September 30, 2013), which are associated with these futures contracts, have been reported in Level 1 as well. The derivative financial instruments reported in Level 2 at September 30, 2014 and 2013 consist of natural gas price swap agreements used in the Company’s Exploration and Production and Energy Marketing segments and the majority of the crude oil price swap agreements used in the Company’s Exploration and Production segment. The fair value of the Level 2 price swap agreements is based on an internal, discounted cash flow model that uses observable inputs (i.e. LIBOR based discount rates and basis differential information, if applicable, at active natural gas and crude oil trading markets). The derivative financial instruments reported in Level 3 consist of a portion of the crude oil price swap agreements used in the Company’s Exploration and Production segment at September 30, 2014 and 2013. The fair value of the Level 3 crude oil price swap agreements is based on an internal, discounted cash flow model that uses both observable (i.e. LIBOR based discount rates) and unobservable inputs (i.e. basis differential information of crude oil trading markets with low trading volume). | ||||||||||||||||||||
The significant unobservable input used in the fair value measurement of a portion of the Company’s over-the-counter crude oil swaps is the basis differential between Midway Sunset oil and NYMEX contracts. Significant changes in the assumed basis differential could result in a significant change in the value of the derivative financial instruments. At September 30, 2014, it was assumed that Midway Sunset oil was 98.2% of NYMEX. This is based on a historical twelve month average of Midway Sunset oil sales verses NYMEX settlements. During this twelve-month period, the price of Midway Sunset oil ranged from 95.3% to 100.6% of NYMEX. If the price of Midway Sunset oil relative to NYMEX used in the fair value measurement calculation had been 10 percentage points higher, the fair value of the Level 3 crude oil price swap agreements asset would have changed from a net asset of $1.4 million to a net liability of $1.2 million at September 30, 2014. If the price of Midway Sunset oil relative to NYMEX used in the fair value measurement had been 10 percentage points lower, the fair value measurement of the Level 3 crude oil price swap agreements asset would have been approximately $2.6 million higher at September 30, 2014. These calculated amounts are based solely on basis differential changes and do not take into account any other changes to the fair value measurement calculation. | ||||||||||||||||||||
The accounting rules for fair value measurements and disclosures require consideration of the impact of nonperformance risk (including credit risk) from a market participant perspective in the measurement of the fair value of assets and liabilities. At September 30, 2014, the Company determined that nonperformance risk would have no material impact on its financial position or results of operation. To assess nonperformance risk, the Company considered information such as any applicable collateral posted, master netting arrangements, and applied a market-based method by using the counterparty (for an asset) or the Company’s (for a liability) credit default swaps rates. | ||||||||||||||||||||
The tables listed below provide reconciliations of the beginning and ending net balances for assets and liabilities measured at fair value and classified as Level 3 for the years ended September 30, 2014 and September 30, 2013, respectively. For the years ended September 30, 2014 and September 30, 2013, no transfers in or out of Level 1 or Level 2 occurred. There were no purchases or sales of derivative financial instruments during the periods presented in the tables below. All settlements of the derivative financial instruments are reflected in the Gains/Losses Realized and Included in Earnings column of the tables below (amounts in parentheses indicate credits in the derivative asset/liability accounts). | ||||||||||||||||||||
Fair Value Measurements Using Unobservable Inputs (Level 3) | ||||||||||||||||||||
Total Gains/Losses | ||||||||||||||||||||
October 1, | (Gains)/Losses | Gains/(Losses) | Transfer | September 30, | ||||||||||||||||
2013 | Realized and | Unrealized and | In/(Out) of | 2014 | ||||||||||||||||
Included in | Included in Other | Level 3 | ||||||||||||||||||
Earnings | Comprehensive | |||||||||||||||||||
Income (Loss) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Derivative Financial Instruments(2) | $ | (5,190 | ) | $ | 2,217 | -1 | $ | 4,341 | $ | — | $ | 1,368 | ||||||||
-1 | Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the year ended September 30, 2014. | |||||||||||||||||||
-2 | Derivative Financial Instruments are shown on a net basis. | |||||||||||||||||||
Total Gains/Losses | ||||||||||||||||||||
October 1, | (Gains)/Losses | Gains/(Losses) | Transfer | September 30, | ||||||||||||||||
2012 | Realized and | Unrealized and | In/(Out) of | 2013 | ||||||||||||||||
Included in | Included in Other | Level 3 | ||||||||||||||||||
Earnings | Comprehensive | |||||||||||||||||||
Income (Loss) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Derivative Financial Instruments(2) | $ | (19,664 | ) | $ | 13,408 | -1 | $ | 1,066 | $ | — | $ | (5,190 | ) | |||||||
-1 | Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the year ended September 30, 2013. | |||||||||||||||||||
-2 | Derivative Financial Instruments are shown on a net basis. |
Financial_Instruments
Financial Instruments | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Financial Instruments, Owned, at Fair Value [Abstract] | ' | ||||||||||||||||||||||||||||
Financial Instruments | ' | ||||||||||||||||||||||||||||
Financial Instruments | |||||||||||||||||||||||||||||
Long-Term Debt | |||||||||||||||||||||||||||||
The fair market value of the Company’s debt, as presented in the table below, was determined using a discounted cash flow model, which incorporates the Company’s credit ratings and current market conditions in determining the yield, and subsequently, the fair market value of the debt. Based on these criteria, the fair market value of long-term debt, including current portion, was as follows: | |||||||||||||||||||||||||||||
At September 30 | |||||||||||||||||||||||||||||
2014 Carrying | 2014 Fair | 2013 Carrying | 2013 Fair | ||||||||||||||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||||||||||||||
(Thousands) | |||||||||||||||||||||||||||||
Long-Term Debt | $ | 1,649,000 | $ | 1,775,715 | $ | 1,649,000 | $ | 1,767,519 | |||||||||||||||||||||
The fair value amounts are not intended to reflect principal amounts that the Company will ultimately be required to pay. Carrying amounts for other financial instruments recorded on the Company’s Consolidated Balance Sheets approximate fair value. The fair value of long-term debt was calculated using observable inputs (U.S. Treasuries/LIBOR for the risk-free component and company specific credit spread information — generally obtained from recent trade activity in the debt). As such, the Company considers the debt to be Level 2. | |||||||||||||||||||||||||||||
Temporary cash investments, notes payable to banks and commercial paper are stated at cost. Temporary cash investments are considered Level 1, while notes payable to banks and commercial paper are considered to be Level 2. Given the short-term nature of the notes payable to banks and commercial paper, the Company believes cost is a reasonable approximation of fair value. | |||||||||||||||||||||||||||||
Other Investments | |||||||||||||||||||||||||||||
Investments in life insurance are stated at their cash surrender values or net present value as discussed below. Investments in an equity mutual fund and the stock of an insurance company (marketable equity securities), as discussed below, are stated at fair value based on quoted market prices. | |||||||||||||||||||||||||||||
Other investments include cash surrender values of insurance contracts (net present value in the case of split-dollar collateral assignment arrangements) and marketable equity securities. The values of the insurance contracts amounted to $44.4 million and $57.6 million at September 30, 2014 and 2013, respectively. The fair value of the equity mutual fund was $35.3 million and $31.8 million at September 30, 2014 and 2013, respectively. The gross unrealized gain on this equity mutual fund was $8.4 million at September 30, 2014 and $5.7 million at September 30, 2013. The fair value of the stock of an insurance company was $6.6 million and $6.5 million at September 30, 2014 and 2013, respectively. The gross unrealized gain on this stock was $4.5 million and $4.1 million at September 30, 2014 and 2013, respectively. The insurance contracts and marketable equity securities are primarily informal funding mechanisms for various benefit obligations the Company has to certain employees. | |||||||||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||||||
The Company uses derivative financial instruments to manage commodity price risk in the Exploration and Production segment as well as the Energy Marketing segment. The Company enters into futures contracts and over-the-counter swap agreements for natural gas and crude oil to manage the price risk associated with forecasted sales of gas and oil. These instruments are accounted for as cash flow hedges. The Company also enters into futures contracts and swaps, which are accounted for as cash flow hedges, to manage the price risk associated with forecasted gas purchases. The Company enters into futures contracts and swaps to mitigate risk associated with fixed price sales commitments, fixed price purchase commitments, and the decline in value of natural gas held in storage. These instruments are accounted for as fair value hedges. The duration of the Company’s combined cash flow and fair value hedges does not typically exceed 5 years. The Exploration and Production segment holds the majority of the Company’s derivative financial instruments. The derivative financial instruments held by the Energy Marketing segment are not considered to be material to the Company. | |||||||||||||||||||||||||||||
The Company has presented its net derivative assets and liabilities as “Fair Value of Derivative Financial Instruments” on its Consolidated Balance Sheets at September 30, 2014 and September 30, 2013. All of the derivative financial instruments reported on those line items relate to commodity contracts. | |||||||||||||||||||||||||||||
Cash Flow Hedges | |||||||||||||||||||||||||||||
For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss) and reclassified into earnings in the period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. | |||||||||||||||||||||||||||||
As of September 30, 2014, the Company had the following commodity derivative contracts (swaps and futures contracts) outstanding: | |||||||||||||||||||||||||||||
Commodity | Units | ||||||||||||||||||||||||||||
Natural Gas | 212.1 | Bcf (short positions) | |||||||||||||||||||||||||||
Natural Gas | 3.3 | Bcf (long positions) | |||||||||||||||||||||||||||
Crude Oil | 3,285,000 | Bbls (short positions) | |||||||||||||||||||||||||||
At March 31, 2014, the Company de-designated a portion of its crude oil swaps as cash flow hedges and simultaneously re-designated them as cash flow hedges using a revised effectiveness testing model. Amounts in accumulated other comprehensive loss at March 31, 2014 associated with the de-designated crude oil swaps will be amortized into the income statement as the anticipated hedged production occurs. Since the de-designated crude oil swaps were re-designated as cash flow hedges at March 31, 2014, future gains or losses on such derivatives, to the extent they are effective, will be reported as a component of other comprehensive income (loss) and reclassified into earnings in the period or periods during which the hedged transaction affects earnings. The net mark-to-market impact recorded in earnings related to all of the Company's crude oil swaps, including ineffectiveness and economic hedges, was a loss of $0.1 million and $3.7 million for the years ended September 30, 2014 and September 30, 2013, respectively. | |||||||||||||||||||||||||||||
As of September 30, 2014, the Company had $76.1 million ($43.7 million after tax) of net hedging gains included in the accumulated other comprehensive income (loss) balance. It is expected that $41.1 million ($23.6 million after tax) of such unrealized gains will be reclassified into the Consolidated Statement of Income within the next 12 months as the expected sales of the underlying commodities occur. It is expected that $35.0 million ($20.1 million after tax) of unrealized gains will be reclassified into the Consolidated Statement of Income after 12 months as the expected sales of the underlying commodities occur. | |||||||||||||||||||||||||||||
Refer to Note A, under Accumulated Other Comprehensive Income (Loss), for the after-tax gain (loss) pertaining to derivative financial instruments. | |||||||||||||||||||||||||||||
The Effect of Derivative Financial Instruments on the Statement of Financial Performance for the | |||||||||||||||||||||||||||||
Year Ended September 30, 2014 and 2013 (Dollar Amounts in Thousands) | |||||||||||||||||||||||||||||
Derivatives in Cash | Amount of | Location of | Amount of | Location of | Derivative Gain or (Loss) Recognized in the Consolidated Statement of Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) for the Year Ended September 30, | ||||||||||||||||||||||||
Flow Hedging | Derivative Gain or | Derivative Gain or (Loss) Reclassified | Derivative Gain or | Derivative Gain or (Loss) Recognized | |||||||||||||||||||||||||
Relationships | (Loss) Recognized | from Accumulated | (Loss) Reclassified | in the Consolidated | |||||||||||||||||||||||||
in Other | Other Comprehensive | from Accumulated | Statement of Income | ||||||||||||||||||||||||||
Comprehensive | Income (Loss) on | Other | (Ineffective Portion | ||||||||||||||||||||||||||
Income (Loss) on | the Consolidated | Comprehensive | and Amount | ||||||||||||||||||||||||||
the Consolidated | Balance Sheet into | Income (Loss) on | Excluded from | ||||||||||||||||||||||||||
Statement of | the Consolidated | the Consolidated | Effectiveness Testing) | ||||||||||||||||||||||||||
Comprehensive | Statement of Income | Balance Sheet into | |||||||||||||||||||||||||||
Income (Loss) | (Effective Portion) | the Consolidated | |||||||||||||||||||||||||||
(Effective Portion) | Statement of Income | ||||||||||||||||||||||||||||
for the Year Ended | (Effective Portion) | ||||||||||||||||||||||||||||
September 30, | for the Year Ended | ||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Commodity Contracts | $ | 9,763 | $ | 87,813 | Operating Revenue | $ | (14,880 | ) | $ | 36,949 | Operating Revenue | $ | 624 | $ | (2,045 | ) | |||||||||||||
Commodity Contracts | $ | (4,429 | ) | $ | 3,977 | Purchased Gas | $ | (2,767 | ) | $ | (920 | ) | Not Applicable | $ | — | $ | — | ||||||||||||
Total | $ | 5,334 | $ | 91,790 | $ | (17,647 | ) | $ | 36,029 | $ | 624 | $ | (2,045 | ) | |||||||||||||||
Fair Value Hedges | |||||||||||||||||||||||||||||
The Company utilizes fair value hedges to mitigate risk associated with fixed price sales commitments, fixed price purchase commitments, and the decline in the value of certain natural gas held in storage. With respect to fixed price sales commitments, the Company enters into long positions to mitigate the risk of price increases for natural gas supplies that could occur after the Company enters into fixed price sales agreements with its customers. With respect to fixed price purchase commitments, the Company enters into short positions to mitigate the risk of price decreases that could occur after the Company locks into fixed price purchase deals with its suppliers. With respect to storage hedges, the Company enters into short positions to mitigate the risk of price decreases that could result in a lower of cost or market writedown of the value of natural gas in storage that is recorded in the Company’s financial statements. As of September 30, 2014, the Company’s Energy Marketing segment had fair value hedges covering approximately 16.1 Bcf (15.8 Bcf of fixed price sales commitments, 0.2 Bcf of fixed price purchase commitments and 0.1 Bcf of commitments related to the withdrawal of storage gas). For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting gain or loss on the hedged item attributable to the hedged risk completely offset each other in current earnings, as shown below. | |||||||||||||||||||||||||||||
Derivatives in Fair Value Hedging Relationships | Location of Gain or (Loss) on Derivative and Hedged Item Recognized in the Consolidated Statement of Income | Amount of Gain or | Amount of Gain or | ||||||||||||||||||||||||||
(Loss) on Derivative | (Loss) on Hedged Item | ||||||||||||||||||||||||||||
Recognized in the | Recognized in the | ||||||||||||||||||||||||||||
Consolidated | Consolidated | ||||||||||||||||||||||||||||
Statement of Income | Statement of Income | ||||||||||||||||||||||||||||
for the Year Ended | for the Year Ended | ||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2014 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commodity Contracts | Operating Revenues | $ | 696 | $ | (696 | ) | |||||||||||||||||||||||
Commodity Contracts | Purchased Gas | (574 | ) | 574 | |||||||||||||||||||||||||
$ | 122 | $ | (122 | ) | |||||||||||||||||||||||||
Credit Risk | |||||||||||||||||||||||||||||
The Company may be exposed to credit risk on any of the derivative financial instruments that are in a gain position. Credit risk relates to the risk of loss that the Company would incur as a result of nonperformance by counterparties pursuant to the terms of their contractual obligations. To mitigate such credit risk, management performs a credit check, and then on a quarterly basis monitors counterparty credit exposure. The majority of the Company’s counterparties are financial institutions and energy traders. The Company has over-the-counter swap positions with sixteen counterparties of which fourteen are in a net gain position. On average, the Company had $5.1 million of credit exposure per counterparty in a gain position at September 30, 2014. The maximum credit exposure per counterparty in a gain position at September 30, 2014 was $18.7 million. As of September 30, 2014, no collateral was received from the counterparties by the Company. The Company’s gain position on such derivative financial instruments had not exceeded the established thresholds at which the counterparties would be required to post collateral, nor had the counterparties’ credit ratings declined to levels at which the counterparties were required to post collateral. | |||||||||||||||||||||||||||||
As of September 30, 2014, eleven of the sixteen counterparties to the Company’s outstanding derivative instrument contracts (specifically the over-the-counter swaps) had a common credit-risk related contingency feature. In the event the Company’s credit rating increases or falls below a certain threshold (applicable debt ratings), the available credit extended to the Company would either increase or decrease. A decline in the Company’s credit rating, in and of itself, would not cause the Company to be required to increase the level of its hedging collateral deposits (in the form of cash deposits, letters of credit or treasury debt instruments). If the Company’s outstanding derivative instrument contracts were in a liability position (or if the liability were larger) and/or the Company’s credit rating declined, then additional hedging collateral deposits may be required. At September 30, 2014, the fair market value of the derivative financial instrument assets with a credit-risk related contingency feature was $60.1 million according to the Company’s internal model (discussed in Note F — Fair Value Measurements). At September 30, 2014, the fair market value of the derivative financial instrument liabilities with a credit-risk related contingency feature was $0.1 million according to the Company’s internal model (discussed in Note F — Fair Value Measurements). For its over-the-counter swap agreements, no hedging collateral deposits were required to be posted by the Company at September 30, 2014. | |||||||||||||||||||||||||||||
For its exchange traded futures contracts, the Company was required to post $2.7 million in hedging collateral deposits as of September 30, 2014. As these are exchange traded futures contracts, there are no specific credit-risk related contingency features. The Company posts hedging collateral based on open positions and margin requirements it has with its counterparties. | |||||||||||||||||||||||||||||
The Company’s requirement to post hedging collateral deposits is based on the fair value determined by the Company’s counterparties, which may differ from the Company’s assessment of fair value. Hedging collateral deposits may also include closed derivative positions in which the broker has not cleared the cash from the account to offset the derivative liability. The Company records liabilities related to closed derivative positions in Other Accruals and Current Liabilities on the Consolidated Balance Sheet. These liabilities are relieved when the broker clears the cash from the hedging collateral deposit account. This is discussed in Note A under Hedging Collateral Deposits. |
Retirement_Plan_And_Other_Post
Retirement Plan And Other Post-Retirement Benefits | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
Retirement Plan And Other Post-Retirement Benefits | ' | |||||||||||||||||||||||
Retirement Plan and Other Post-Retirement Benefits | ||||||||||||||||||||||||
The Company has a tax-qualified, noncontributory, defined-benefit retirement plan (Retirement Plan). The Retirement Plan covers certain non-collectively bargained employees hired before July 1, 2003 and certain collectively bargained employees hired before November 1, 2003. Certain non-collectively bargained employees hired after June 30, 2003 and certain collectively bargained employees hired after October 31, 2003 are eligible for a Retirement Savings Account benefit provided under the Company’s defined contribution Tax-Deferred Savings Plans. Costs associated with the Retirement Savings Account were $1.9 million, $1.2 million and $0.9 million for the years ended September 30, 2014, 2013 and 2012, respectively. Costs associated with the Company’s contributions to the Tax-Deferred Savings Plans, exclusive of the costs associated with the Retirement Savings Account, were $5.2 million, $4.4 million, and $4.3 million for the years ended September 30, 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||
The Company provides health care and life insurance benefits (other post-retirement benefits) for a majority of its retired employees. The other post-retirement benefits cover certain non-collectively bargained employees hired before January 1, 2003 and certain collectively bargained employees hired before October 31, 2003. | ||||||||||||||||||||||||
The Company’s policy is to fund the Retirement Plan with at least an amount necessary to satisfy the minimum funding requirements of applicable laws and regulations and not more than the maximum amount deductible for federal income tax purposes. The Company has established VEBA trusts for its other post-retirement benefits. Contributions to the VEBA trusts are tax deductible, subject to limitations contained in the Internal Revenue Code and regulations and are made to fund employees’ other post-retirement benefits, as well as benefits as they are paid to current retirees. In addition, the Company has established 401(h) accounts for its other post-retirement benefits. They are separate accounts within the Retirement Plan trust used to pay retiree medical benefits for the associated participants in the Retirement Plan. Although these accounts are in the Retirement Plan trust, for funding status purposes as shown below, the 401(h) accounts are included in Fair Value of Assets under Other Post-Retirement Benefits. Contributions are tax-deductible when made, subject to limitations contained in the Internal Revenue Code and regulations. | ||||||||||||||||||||||||
The expected return on Retirement Plan assets, a component of net periodic benefit cost shown in the tables below, is applied to the market-related value of plan assets. The market-related value of plan assets is the market value as of the measurement date adjusted for variances between actual returns and expected returns (from previous years) that have not been reflected in net periodic benefit costs. The expected return on other post-retirement benefit assets (i.e. the VEBA trusts and 401(h) accounts), which is a component of net periodic benefit cost shown in the tables below, is applied to the fair value of assets as of the measurement date. | ||||||||||||||||||||||||
Reconciliations of the Benefit Obligations, Plan Assets and Funded Status, as well as the components of Net Periodic Benefit Cost and the Weighted Average Assumptions of the Retirement Plan and other post-retirement benefits are shown in the tables below. The date used to measure the Benefit Obligations, Plan Assets and Funded Status is September 30 for fiscal years 2014, 2013 and 2012. | ||||||||||||||||||||||||
Retirement Plan | Other Post-Retirement Benefits | |||||||||||||||||||||||
Year Ended September 30 | Year Ended September 30 | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||||||
Benefit Obligation at Beginning of Period | $ | 946,305 | $ | 1,070,744 | $ | 949,777 | $ | 460,634 | $ | 561,263 | $ | 485,452 | ||||||||||||
Service Cost | 11,987 | 15,846 | 14,202 | 2,939 | 4,705 | 4,016 | ||||||||||||||||||
Interest Cost | 43,574 | 36,498 | 41,526 | 21,308 | 19,212 | 21,315 | ||||||||||||||||||
Plan Participants’ Contributions | — | — | — | 2,265 | 2,141 | 1,956 | ||||||||||||||||||
Retiree Drug Subsidy Receipts | — | — | — | 1,419 | 1,526 | 1,528 | ||||||||||||||||||
Actuarial (Gain) Loss | 53,887 | (121,631 | ) | 120,338 | 1,087 | (104,455 | ) | 71,708 | ||||||||||||||||
Benefits Paid | (56,254 | ) | (55,152 | ) | (55,099 | ) | (24,069 | ) | (23,758 | ) | (24,712 | ) | ||||||||||||
Benefit Obligation at End of Period | $ | 999,499 | $ | 946,305 | $ | 1,070,744 | $ | 465,583 | $ | 460,634 | $ | 561,263 | ||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||
Fair Value of Assets at Beginning of Period | $ | 799,307 | $ | 701,676 | $ | 601,719 | $ | 472,392 | $ | 414,134 | $ | 351,990 | ||||||||||||
Actual Return on Plan Assets | 93,238 | 98,783 | 111,034 | 44,898 | 61,715 | 63,552 | ||||||||||||||||||
Employer Contributions | 33,500 | 54,000 | 44,022 | 2,115 | 18,160 | 21,348 | ||||||||||||||||||
Plan Participants’ Contributions | — | — | — | 2,265 | 2,141 | 1,956 | ||||||||||||||||||
Benefits Paid | (56,254 | ) | (55,152 | ) | (55,099 | ) | (24,069 | ) | (23,758 | ) | (24,712 | ) | ||||||||||||
Fair Value of Assets at End of Period | $ | 869,791 | $ | 799,307 | $ | 701,676 | $ | 497,601 | $ | 472,392 | $ | 414,134 | ||||||||||||
Net Amount Recognized at End of Period (Funded Status) | $ | (129,708 | ) | $ | (146,998 | ) | $ | (369,068 | ) | $ | 32,018 | $ | 11,758 | $ | (147,129 | ) | ||||||||
Amounts Recognized in the Balance Sheets Consist of: | ||||||||||||||||||||||||
Non-Current Liabilities | $ | (129,708 | ) | $ | (146,998 | ) | $ | (369,068 | ) | $ | (4,494 | ) | $ | (11,016 | ) | $ | (147,129 | ) | ||||||
Non-Current Assets | — | — | — | 36,512 | 22,774 | — | ||||||||||||||||||
Net Amount Recognized at End of Period | $ | (129,708 | ) | $ | (146,998 | ) | $ | (369,068 | ) | $ | 32,018 | $ | 11,758 | $ | (147,129 | ) | ||||||||
Accumulated Benefit Obligation | $ | 940,068 | $ | 886,942 | $ | 986,223 | N/A | N/A | N/A | |||||||||||||||
Weighted Average Assumptions Used to Determine Benefit Obligation at September 30 | ||||||||||||||||||||||||
Discount Rate | 4.25 | % | 4.75 | % | 3.5 | % | 4.25 | % | 4.75 | % | 3.5 | % | ||||||||||||
Rate of Compensation Increase | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | ||||||||||||
Retirement Plan | Other Post-Retirement Benefits | |||||||||||||||||||||||
Year Ended September 30 | Year Ended September 30 | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||||||||||
Service Cost | $ | 11,987 | $ | 15,846 | $ | 14,202 | $ | 2,939 | $ | 4,705 | $ | 4,016 | ||||||||||||
Interest Cost | 43,574 | 36,498 | 41,526 | 21,308 | 19,212 | 21,315 | ||||||||||||||||||
Expected Return on Plan Assets | (59,974 | ) | (57,346 | ) | (59,701 | ) | (37,424 | ) | (32,872 | ) | (28,971 | ) | ||||||||||||
Amortization of Prior Service Cost (Credit) | 210 | 238 | 269 | (2,138 | ) | (2,138 | ) | (2,138 | ) | |||||||||||||||
Amortization of Transition Amount | — | — | — | — | 8 | 10 | ||||||||||||||||||
Recognition of Actuarial Loss(1) | 36,007 | 52,776 | 39,615 | 2,645 | 20,892 | 24,057 | ||||||||||||||||||
Net Amortization and Deferral for Regulatory Purposes | 8,151 | (10,406 | ) | (6,900 | ) | 23,263 | 11,844 | 6,162 | ||||||||||||||||
Net Periodic Benefit Cost | $ | 39,955 | $ | 37,606 | $ | 29,011 | $ | 10,593 | $ | 21,651 | $ | 24,451 | ||||||||||||
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost at September 30 | ||||||||||||||||||||||||
Discount Rate | 4.75 | % | 3.5 | % | 4.5 | % | 4.75 | % | 3.5 | % | 4.5 | % | ||||||||||||
Expected Return on Plan Assets | 8 | % | 8 | % | 8.25 | % | 8 | % | 8 | % | 8.25 | % | ||||||||||||
Rate of Compensation Increase | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | ||||||||||||
-1 | Distribution Corporation’s New York jurisdiction calculates the amortization of the actuarial loss on a vintage year basis over 10 years, as mandated by the NYPSC. All the other subsidiaries of the Company utilize the corridor approach. | |||||||||||||||||||||||
The Net Periodic Benefit Cost in the table above includes the effects of regulation. The Company recovers pension and other post-retirement benefit costs in its Utility and Pipeline and Storage segments in accordance with the applicable regulatory commission authorizations. Certain of those commission authorizations established tracking mechanisms which allow the Company to record the difference between the amount of pension and other post-retirement benefit costs recoverable in rates and the amounts of such costs as determined under the existing authoritative guidance as either a regulatory asset or liability, as appropriate. Any activity under the tracking mechanisms (including the amortization of pension and other post-retirement regulatory assets and liabilities) is reflected in the Net Amortization and Deferral for Regulatory Purposes line item above. | ||||||||||||||||||||||||
In addition to the Retirement Plan discussed above, the Company also has Non-Qualified benefit plans that cover a group of management employees designated by the Chief Executive Officer of the Company. These plans provide for defined benefit payments upon retirement of the management employee, or to the spouse upon death of the management employee. The net periodic benefit cost associated with these plans were $7.5 million, $9.6 million and $9.1 million in 2014, 2013 and 2012, respectively. The accumulated benefit obligations for the plans were $65.7 million, $57.2 million and $54.5 million at September 30, 2014, 2013 and 2012, respectively. The projected benefit obligations for the plans were $85.5 million, $77.1 million and $88.5 million at September 30, 2014, 2013 and 2012, respectively. At September 30, 2014, $6.6 million of the projected benefit obligation is recorded in Other Accruals and Current Liabilities and the remaining $78.9 million is recorded in Other Deferred Credits on the Consolidated Balance Sheets. At September 30, 2013 and 2012, the projected benefit obligations are recorded in Other Deferred Credits on the Consolidated Balance Sheets. The weighted average discount rates for these plans were 3.50%, 3.75% and 2.50% as of September 30, 2014, 2013 and 2012, respectively and a weighted average rate of compensation increase of 7.50%, 7.75% and 7.75% as of September 30, 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||
The cumulative amounts recognized in accumulated other comprehensive income (loss), regulatory assets, and regulatory liabilities through fiscal 2014, the changes in such amounts during 2014, as well as the amounts expected to be recognized in net periodic benefit cost in fiscal 2015 are presented in the table below: | ||||||||||||||||||||||||
Retirement | Other | Non-Qualified | ||||||||||||||||||||||
Plan | Post-Retirement | Benefit Plans | ||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities(1) | ||||||||||||||||||||||||
Net Actuarial Loss | $ | (226,897 | ) | $ | (32,082 | ) | $ | (23,532 | ) | |||||||||||||||
Prior Service (Cost) Credit | (856 | ) | 6,940 | — | ||||||||||||||||||||
Net Amount Recognized | $ | (227,753 | ) | $ | (25,142 | ) | $ | (23,532 | ) | |||||||||||||||
Changes to Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities Recognized During Fiscal 2014(1) | ||||||||||||||||||||||||
Decrease (Increase) in Actuarial Loss, excluding amortization(2) | $ | (20,622 | ) | $ | 6,387 | $ | (5,424 | ) | ||||||||||||||||
Change due to Amortization of Actuarial Loss | 36,007 | 2,645 | 3,008 | |||||||||||||||||||||
Prior Service (Cost) Credit | 210 | (2,138 | ) | — | ||||||||||||||||||||
Net Change | $ | 15,595 | $ | 6,894 | $ | (2,416 | ) | |||||||||||||||||
Amounts Expected to be Recognized in Net Periodic Benefit Cost in the Next Fiscal Year(1) | ||||||||||||||||||||||||
Net Actuarial Loss | $ | (36,129 | ) | $ | (4,148 | ) | $ | (2,925 | ) | |||||||||||||||
Prior Service (Cost) Credit | (183 | ) | 1,913 | — | ||||||||||||||||||||
Net Amount Expected to be Recognized | $ | (36,312 | ) | $ | (2,235 | ) | $ | (2,925 | ) | |||||||||||||||
-1 | Amounts presented are shown before recognizing deferred taxes. | |||||||||||||||||||||||
-2 | Amounts presented include the impact of actuarial gains/losses related to return on assets, as well as the Actuarial (Gain) Loss amounts presented in the Change in Benefit Obligation. | |||||||||||||||||||||||
In order to adjust the funded status of its pension (tax-qualified and non-qualified) and other post-retirement benefit plans at September 30, 2014, the Company recorded a $19.2 million decrease to Other Regulatory Assets in the Company’s Utility and Pipeline and Storage segments and a $0.9 million (pre-tax) decrease to Accumulated Other Comprehensive Loss. | ||||||||||||||||||||||||
The effect of the discount rate change for the Retirement Plan in 2014 was to increase the projected benefit obligation of the Retirement Plan by $53.7 million. In 2014, other actuarial experience increased the projected benefit obligation for the Retirement Plan by $0.2 million. The effect of the discount rate change for the Retirement Plan in 2013 was to decrease the projected benefit obligation of the Retirement Plan by $147.9 million. The effect of the discount rate change for the Retirement Plan in 2012 was to increase the projected benefit obligation of the Retirement Plan by $118.8 million. | ||||||||||||||||||||||||
The Company made cash contributions totaling $33.5 million to the Retirement Plan during the year ended September 30, 2014. The Company expects that the annual contribution to the Retirement Plan in 2015 will be in the range of $15.0 million to $25.0 million. Changes in the discount rate, other actuarial assumptions, and asset performance could ultimately cause the Company to fund larger amounts to the Retirement Plan in 2015 in order to be in compliance with the Pension Protection Act of 2006 (as impacted by the Moving Ahead for Progress in the 21st Century Act). In July 2012, the Surface Transportation Extension Act, which is also referred to as the Moving Ahead for Progress in the 21st Century Act (the Act), was passed by Congress and signed by the President. The Act included pension funding stabilization provisions. The Highway and Transportation Funding Act of 2014 (HAFTA) was passed by Congress on July 2014 and signed by the President in August 2014. HAFTA extended certain funding stabilization provisions of the Act signed into law in 2012. The Company is continually evaluating its future contributions in light of the provisions of these laws. | ||||||||||||||||||||||||
The following Retirement Plan benefit payments, which reflect expected future service, are expected to be paid by the Retirement Plan during the next five years and the five years thereafter: $59.4 million in 2015; $60.4 million in 2016; $61.3 million in 2017; $62.2 million in 2018; $62.9 million in 2019; and $326.2 million in the five years thereafter. | ||||||||||||||||||||||||
The effect of the discount rate change in 2014 was to increase the other post-retirement benefit obligation by $26.4 million. Other actuarial experience decreased the other post-retirement benefit obligation in 2014 by $25.3 million primarily attributable to a revision in assumed per-capita claims cost, premiums and participant contributions based on actual experience. | ||||||||||||||||||||||||
The effect of the discount rate change in 2013 was to decrease the other post-retirement benefit obligation by $75.9 million. Other actuarial experience decreased the other post-retirement benefit obligation in 2013 by $28.6 million as the increase in obligation attributable to the change in mortality assumption was more than offset by the decrease in obligation attributable to a revision in assumed per-capita claims cost, premiums and participant contributions based on actual experience. | ||||||||||||||||||||||||
The effect of the discount rate change in 2012 was to increase the other post-retirement benefit obligation by $65.6 million. Other actuarial experience increased the other post-retirement benefit obligation in 2012 by $6.1 million. | ||||||||||||||||||||||||
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 provides for a prescription drug benefit under Medicare (Medicare Part D), as well as a federal subsidy to sponsors of retiree health care benefit plans that provide a benefit that is at least actuarially equivalent to Medicare Part D. | ||||||||||||||||||||||||
The estimated gross other post-retirement benefit payments and gross amount of Medicare Part D prescription drug subsidy receipts are as follows (dollars in thousands): | ||||||||||||||||||||||||
Benefit Payments | Subsidy Receipts | |||||||||||||||||||||||
2015 | $ | 25,594 | $ | (1,955 | ) | |||||||||||||||||||
2016 | $ | 26,909 | $ | (2,143 | ) | |||||||||||||||||||
2017 | $ | 28,113 | $ | (2,323 | ) | |||||||||||||||||||
2018 | $ | 29,226 | $ | (2,511 | ) | |||||||||||||||||||
2019 | $ | 30,173 | $ | (2,708 | ) | |||||||||||||||||||
2020 through 2024 | $ | 163,470 | $ | (16,104 | ) | |||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Rate of Increase for Pre Age 65 Participants | 7.1 | % | -1 | 7.28 | % | -1 | 7.46 | % | -1 | |||||||||||||||
Rate of Increase for Post Age 65 Participants | 6.73 | % | -1 | 6.78 | % | -1 | 6.84 | % | -1 | |||||||||||||||
Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits | 7.47 | % | -1 | 7.78 | % | -1 | 8.08 | % | -1 | |||||||||||||||
Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement | 6.73 | % | -1 | 6.78 | % | -1 | 6.84 | % | -1 | |||||||||||||||
Annual Rate of Increase in the Per Capita Medicare Part D Subsidy | 6.79 | % | -1 | 7.03 | % | -1 | 7.13 | % | -1 | |||||||||||||||
-1 | It was assumed that this rate would gradually decline to 4.5% by 2028. | |||||||||||||||||||||||
The health care cost trend rate assumptions used to calculate the per capita cost of covered medical care benefits have a significant effect on the amounts reported. If the health care cost trend rates were increased by 1% in each year, the other post-retirement benefit obligation as of October 1, 2014 would increase by $53.0 million. This 1% change would also have increased the aggregate of the service and interest cost components of net periodic post-retirement benefit cost for 2014 by $3.3 million. If the health care cost trend rates were decreased by 1% in each year, the other post-retirement benefit obligation as of October 1, 2014 would decrease by $44.6 million. This 1% change would also have decreased the aggregate of the service and interest cost components of net periodic post-retirement benefit cost for 2014 by $2.8 million. | ||||||||||||||||||||||||
The Company made cash contributions totaling $2.0 million to its VEBA trusts and 401(h) accounts during the year ended September 30, 2014. In addition, the Company made direct payments of $0.1 million to retirees not covered by the VEBA trusts and 401(h) accounts during the year ended September 30, 2014. The Company expects that the annual contribution to its VEBA trusts and 401(h) accounts in 2015 will be in the range of $2.0 million to $5.0 million. | ||||||||||||||||||||||||
Investment Valuation | ||||||||||||||||||||||||
The Retirement Plan assets and other post-retirement benefit assets are valued under the current fair value framework. See Note F — Fair Value Measurements for further discussion regarding the definition and levels of fair value hierarchy established by the authoritative guidance. | ||||||||||||||||||||||||
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Below is a listing of the major categories of plan assets held as of September 30, 2014 and 2013, as well as the associated level within the fair value hierarchy in which the fair value measurements in their entirety fall, based on the lowest level input that is significant to the fair value measurement in its entirety (dollars in thousands): | ||||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Retirement Plan Investments | ||||||||||||||||||||||||
Domestic Equities(1) | $ | 268,649 | $ | 171,979 | $ | 96,670 | $ | — | ||||||||||||||||
International Equities(2) | 80,957 | 1,969 | 78,988 | — | ||||||||||||||||||||
Global Equities(3) | 104,238 | — | 104,238 | — | ||||||||||||||||||||
Domestic Fixed Income(4) | 299,494 | 63,187 | 236,307 | — | ||||||||||||||||||||
International Fixed Income(5) | 1,240 | 508 | 732 | — | ||||||||||||||||||||
Global Fixed Income(6) | 93,704 | — | 93,704 | — | ||||||||||||||||||||
Hedge Fund Investments | 45,213 | — | — | 45,213 | ||||||||||||||||||||
Real Estate | 3,792 | — | — | 3,792 | ||||||||||||||||||||
Cash and Cash Equivalents | 33,544 | — | 33,544 | — | ||||||||||||||||||||
Total Retirement Plan Investments | 930,831 | 237,643 | 644,183 | 49,005 | ||||||||||||||||||||
401(h) Investments | (54,921 | ) | (14,105 | ) | (37,907 | ) | (2,909 | ) | ||||||||||||||||
Total Retirement Plan Investments (excluding 401(h) Investments) | $ | 875,910 | $ | 223,538 | $ | 606,276 | $ | 46,096 | ||||||||||||||||
Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash | (6,119 | ) | ||||||||||||||||||||||
Total Retirement Plan Assets | $ | 869,791 | ||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Retirement Plan Investments | ||||||||||||||||||||||||
Domestic Equities(1) | $ | 402,107 | $ | 271,071 | $ | 131,036 | $ | — | ||||||||||||||||
International Equities(2) | 103,028 | 2,355 | 100,673 | — | ||||||||||||||||||||
Global Equities(3) | 25,325 | — | 25,325 | — | ||||||||||||||||||||
Domestic Fixed Income(4) | 163,750 | 71,185 | 92,565 | — | ||||||||||||||||||||
International Fixed Income(5) | 2,762 | 1,318 | 1,444 | — | ||||||||||||||||||||
Global Fixed Income(6) | 88,084 | — | 88,084 | — | ||||||||||||||||||||
Hedge Fund Investments | 42,027 | — | — | 42,027 | ||||||||||||||||||||
Real Estate | 2,723 | — | — | 2,723 | ||||||||||||||||||||
Cash and Cash Equivalents | 22,694 | — | 22,694 | — | ||||||||||||||||||||
Total Retirement Plan Investments | 852,500 | 345,929 | 461,821 | 44,750 | ||||||||||||||||||||
401(h) Investments | (49,453 | ) | (20,141 | ) | (26,706 | ) | (2,606 | ) | ||||||||||||||||
Total Retirement Plan Investments (excluding 401(h) Investments) | $ | 803,047 | $ | 325,788 | $ | 435,115 | $ | 42,144 | ||||||||||||||||
Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash | (3,740 | ) | ||||||||||||||||||||||
Total Retirement Plan Assets | $ | 799,307 | ||||||||||||||||||||||
-1 | Domestic Equities include mostly collective trust funds, common stock, and exchange traded funds. | |||||||||||||||||||||||
-2 | International Equities include mostly collective trust funds and common stock. | |||||||||||||||||||||||
-3 | Global Equities are comprised of a collective trust fund. | |||||||||||||||||||||||
-4 | Domestic Fixed Income securities include mostly collective trust funds, corporate/government bonds and mortgages, and exchange traded funds. | |||||||||||||||||||||||
-5 | International Fixed Income securities include mostly collective trust funds and exchange traded funds. | |||||||||||||||||||||||
-6 | Global Fixed Income securities are comprised of a collective trust fund. | |||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Other Post-Retirement Benefit Assets held in VEBA Trusts | ||||||||||||||||||||||||
Collective Trust Funds — Domestic Equities | $ | 148,219 | $ | — | $ | 148,219 | $ | — | ||||||||||||||||
Collective Trust Funds — International Equities | 54,881 | — | 54,881 | — | ||||||||||||||||||||
Exchange Traded Funds — Fixed Income | 236,513 | 236,513 | — | — | ||||||||||||||||||||
Cash Held in Collective Trust Funds | 6,412 | — | 6,412 | — | ||||||||||||||||||||
Total VEBA Trust Investments | 446,025 | 236,513 | 209,512 | — | ||||||||||||||||||||
401(h) Investments | 54,921 | 14,105 | 37,907 | 2,909 | ||||||||||||||||||||
Total Investments (including 401(h) Investments) | $ | 500,946 | $ | 250,618 | $ | 247,419 | $ | 2,909 | ||||||||||||||||
Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative) | (3,345 | ) | ||||||||||||||||||||||
Total Other Post-Retirement Benefit Assets | $ | 497,601 | ||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Other Post-Retirement Benefit Assets held in VEBA Trusts | ||||||||||||||||||||||||
Collective Trust Funds — Domestic Equities | $ | 205,623 | $ | — | $ | 205,623 | $ | — | ||||||||||||||||
Collective Trust Funds — International Equities | 87,613 | — | 87,613 | — | ||||||||||||||||||||
Exchange Traded Funds — Fixed Income | 122,558 | 122,558 | — | — | ||||||||||||||||||||
Real Estate | 55 | — | — | 55 | ||||||||||||||||||||
Cash Held in Collective Trust Funds | 11,678 | — | 11,678 | — | ||||||||||||||||||||
Total VEBA Trust Investments | 427,527 | 122,558 | 304,914 | 55 | ||||||||||||||||||||
401(h) Investments | 49,453 | 20,141 | 26,706 | 2,606 | ||||||||||||||||||||
Total Investments (including 401(h) Investments) | $ | 476,980 | $ | 142,699 | $ | 331,620 | $ | 2,661 | ||||||||||||||||
Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative) | (4,588 | ) | ||||||||||||||||||||||
Total Other Post-Retirement Benefit Assets | $ | 472,392 | ||||||||||||||||||||||
The fair values disclosed in the above tables may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. | ||||||||||||||||||||||||
The following tables provide a reconciliation of the beginning and ending balances of the Retirement Plan and other post-retirement benefit assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3). Note: For the years ended September 30, 2014 and September 30, 2013, there were no transfers from Level 1 to Level 2. In addition, as shown in the following tables, there were no transfers in or out of Level 3. | ||||||||||||||||||||||||
Retirement Plan Level 3 Assets | ||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Hedge | Real | Excluding | Total | |||||||||||||||||||||
Funds | Estate | 401(h) | ||||||||||||||||||||||
Investments | ||||||||||||||||||||||||
Balance at September 30, 2012 | $ | 39,956 | $ | 6,170 | $ | (2,680 | ) | $ | 43,446 | |||||||||||||||
Realized Gains/(Losses) | — | (73 | ) | 4 | (69 | ) | ||||||||||||||||||
Unrealized Gains/(Losses) | 2,071 | 515 | (156 | ) | 2,430 | |||||||||||||||||||
Purchases | — | 188 | (11 | ) | 177 | |||||||||||||||||||
Sales | — | (4,077 | ) | 237 | (3,840 | ) | ||||||||||||||||||
Balance at September 30, 2013 | 42,027 | 2,723 | (2,606 | ) | 42,144 | |||||||||||||||||||
Realized Gains/(Losses) | — | 62 | (4 | ) | 58 | |||||||||||||||||||
Unrealized Gains/(Losses) | 3,186 | (10 | ) | (239 | ) | 2,937 | ||||||||||||||||||
Purchases | — | 1,111 | (65 | ) | 1,046 | |||||||||||||||||||
Sales | — | (94 | ) | 5 | (89 | ) | ||||||||||||||||||
Balance at September 30, 2014 | $ | 45,213 | $ | 3,792 | $ | (2,909 | ) | $ | 46,096 | |||||||||||||||
Other Post-Retirement Benefit Level 3 Assets | ||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
VEBA | Including | Other | ||||||||||||||||||||||
Trust | 401(h) | Post-Retirement | ||||||||||||||||||||||
Investments | Investments | Benefit | ||||||||||||||||||||||
Real | Investments | |||||||||||||||||||||||
Estate | ||||||||||||||||||||||||
Balance at September 30, 2012 | $ | 1,305 | $ | 2,680 | $ | 3,985 | ||||||||||||||||||
Realized Gains/(Losses) | 940 | (4 | ) | 936 | ||||||||||||||||||||
Unrealized Gains/(Losses) | 385 | 156 | 541 | |||||||||||||||||||||
Purchases | — | 11 | 11 | |||||||||||||||||||||
Sales | (2,575 | ) | (237 | ) | (2,812 | ) | ||||||||||||||||||
Balance at September 30, 2013 | 55 | 2,606 | 2,661 | |||||||||||||||||||||
Realized Gains/(Losses) | (40 | ) | 4 | (36 | ) | |||||||||||||||||||
Unrealized Gains/(Losses) | — | 239 | 239 | |||||||||||||||||||||
Purchases | — | 65 | 65 | |||||||||||||||||||||
Sales | (15 | ) | (5 | ) | (20 | ) | ||||||||||||||||||
Balance at September 30, 2014 | $ | — | $ | 2,909 | $ | 2,909 | ||||||||||||||||||
The Company’s assumption regarding the expected long-term rate of return on plan assets is 7.5% (Retirement Plan) and 7.0% (other post-retirement benefits), effective for fiscal 2015. The return assumption reflects the anticipated long-term rate of return on the plan’s current and future assets. The Company utilizes projected capital market conditions and the plan’s target asset class and investment manager allocations to set the assumption regarding the expected return on plan assets. | ||||||||||||||||||||||||
The long-term investment objective of the Retirement Plan trust, the VEBA trusts and the 401(h) accounts is to achieve the target total return in accordance with the Company’s risk tolerance. Assets are diversified utilizing a mix of equities, fixed income and other securities (including real estate). The target allocation for the Retirement Plan is 40-60% equity securities, 35-55% fixed income securities and 5-20% other. The target allocation for the VEBA trusts (including 401(h) accounts) is 40-60% equity securities, 40-60% fixed income securities and 0-15% other. Risk tolerance is established through consideration of plan liabilities, plan funded status and corporate financial condition. The assets of the Retirement Plan trusts, VEBA trusts and the 401(h) accounts have no significant concentrations of risk in any one country (other than the United States), industry or entity. | ||||||||||||||||||||||||
Investment managers are retained to manage separate pools of assets. Comparative market and peer group performance of individual managers and the total fund are monitored on a regular basis, and reviewed by the Company’s Retirement Committee on at least a quarterly basis. | ||||||||||||||||||||||||
The discount rate which is used to present value the future benefit payment obligations of the Retirement Plan and the Company’s other post-retirement benefits is 4.25% as of September 30, 2014. The discount rate which is used to present value the future benefit payment obligations of the Non-Qualified benefit plans is 3.50% as of September 30, 2014. The Company utilizes the Mercer Yield Curve Above Mean Model to determine the discount rate. The yield curve is a spot rate yield curve that provides a zero-coupon interest rate for each year into the future. Each year’s anticipated benefit payments are discounted at the associated spot interest rate back to the measurement date. The discount rate is then determined based on the spot interest rate that results in the same present value when applied to the same anticipated benefit payments. In determining the spot rates, the model will exclude coupon interest rates that are in the lower 50th percentile based on the assumption that the Company would not utilize more expensive (i.e. lower yield) instruments to settle its liabilities. |
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended |
Sep. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments And Contingencies | ' |
Commitments and Contingencies | |
Environmental Matters | |
The Company is subject to various federal, state and local laws and regulations relating to the protection of the environment. The Company has established procedures for the ongoing evaluation of its operations to identify potential environmental exposures and to comply with regulatory requirements. | |
It is the Company’s policy to accrue estimated environmental clean-up costs (investigation and remediation) when such amounts can reasonably be estimated and it is probable that the Company will be required to incur such costs. At September 30, 2014, the Company has estimated its remaining clean-up costs related to former manufactured gas plant sites and third party waste disposal sites will be approximately $14.0 million. The main component of this liability is discussed below under "Former Manufactured Gas Plant Sites." This estimated liability has been recorded in Other Deferred Credits on the Consolidated Balance Sheet at September 30, 2014. The Company expects to recover its environmental clean-up costs through rate recovery over a period of approximately 13 years. Other than as discussed below, the Company is currently not aware of any material exposure to environmental liabilities. However, changes in environmental laws and regulations, new information or other factors could adversely impact the Company. | |
(i) Former Manufactured Gas Plant Sites | |
The Company has incurred investigation and/or clean-up costs at several former manufactured gas plant sites in New York and Pennsylvania. The Company continues to be responsible for future ongoing monitoring and long-term maintenance at two sites. | |
The most significant ongoing clean-up matter currently facing the Company is a former manufactured gas plant site located in New York. In February 2009, the Company received approval from the NYDEC of a Remedial Design Work Plan (RDWP) for this site. In October 2010, the Company submitted a RDWP addendum to conduct additional Preliminary Design Investigation field activities necessary to design a successful remediation. As a result of this work, the Company submitted to the NYDEC a proposal to amend the NYDEC’s Record of Decision remedy for the site. In April 2013, the NYDEC approved the Company’s proposed amendment. Final remedial design work for the site has begun. An estimated minimum liability for remediation of this site of $12.6 million has been recorded. | |
Other | |
The Company, in its Utility segment, Energy Marketing segment, and Exploration and Production segment, has entered into contractual commitments in the ordinary course of business, including commitments to purchase gas, transportation, and storage service to meet customer gas supply needs. The majority of these contracts expire within the next five years. The future gas purchase, transportation and storage contract commitments during the next five years and thereafter are as follows: $263.8 million in 2015, $66.7 million in 2016, $91.8 million in 2017, $91.8 million in 2018, $82.1 million in 2019 and $845.1 million thereafter. Gas prices within the gas purchase contracts are variable based on NYMEX prices adjusted for basis. In the Utility segment, these costs are subject to state commission review, and are being recovered in customer rates. Management believes that, to the extent any stranded pipeline costs are generated by the unbundling of services in the Utility segment’s service territory, such costs will be recoverable from customers. | |
The Company has entered into leases for the use of compressors, drilling rigs, buildings, meters and other items. These leases are accounted for as operating leases. The future lease commitments during the next five years and thereafter are as follows: $16.0 million in 2015, $5.8 million in 2016, $5.7 million in 2017, $5.6 million in 2018, $5.3 million in 2019 and $2.4 million thereafter. | |
The Company, in its Pipeline and Storage segment and Gathering segment, has entered into several contractual commitments associated with various pipeline, compressor and gathering system expansion projects. As of September 30, 2014, the future contractual commitments related to the expansion projects are $103.9 million in 2015 and $0.5 million in 2016. There are no contractual commitments extending beyond 2016. | |
The Company, in its Exploration and Production segment, has entered into contractual obligations associated with hydraulic fracturing and fuel. The future contractual commitments during the next three years are as follows: $95.3 million in 2015, $24.0 million in 2016 and $0.2 million in 2017. There are no contractual commitments extending beyond 2017. | |
The Company, in its Utility segment, has entered into contractual obligations associated with the replacement of its legacy mainframe systems. The future contractual commitments during the next two years are as follows: $21.0 million in 2015 and $5.0 million in 2016. There are no contractual commitments extending beyond 2016. | |
The Company is involved in other litigation arising in the normal course of business. In addition to the regulatory matters discussed in Note C — Regulatory Matters, the Company is involved in other regulatory matters arising in the normal course of business. These other litigation and regulatory matters may include, for example, negligence claims and tax, regulatory or other governmental audits, inspections, investigations and other proceedings. These matters may involve state and federal taxes, safety, compliance with regulations, rate base, cost of service and purchased gas cost issues, among other things. While these other matters arising in the normal course of business could have a material effect on earnings and cash flows in the period in which they are resolved, an estimate of the possible loss or range of loss, if any, cannot be made at this time. |
Business_Segment_Information
Business Segment Information | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Business Segment Information | ' | |||||||||||||||||||||||||||||||||||
Business Segment Information | ||||||||||||||||||||||||||||||||||||
The Company reports financial results for five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility and Energy Marketing. The division of the Company’s operations into reportable segments is based upon a combination of factors including differences in products and services, regulatory environment and geographic factors. | ||||||||||||||||||||||||||||||||||||
The Exploration and Production segment, through Seneca, is engaged in exploration for, and development and purchase of, natural gas and oil reserves in California, the Appalachian region of the United States and Kansas. | ||||||||||||||||||||||||||||||||||||
The Pipeline and Storage segment operations are regulated by the FERC for both Supply Corporation and Empire. Supply Corporation transports and stores natural gas for utilities (including Distribution Corporation), natural gas marketers (including NFR), exploration and production companies (including Seneca) and pipeline companies in the northeastern United States markets. Empire transports natural gas to major industrial companies, utilities (including Distribution Corporation) and power producers in New York State. | ||||||||||||||||||||||||||||||||||||
The Gathering segment is comprised of Midstream Corporation’s operations. Midstream Corporation builds, owns and operates natural gas processing and pipeline gathering facilities in the Appalachian region and currently provides gathering services to Seneca. | ||||||||||||||||||||||||||||||||||||
The Utility segment operations are regulated by the NYPSC and the PaPUC and are carried out by Distribution Corporation. Distribution Corporation sells natural gas to retail customers and provides natural gas transportation services in western New York and northwestern Pennsylvania. | ||||||||||||||||||||||||||||||||||||
The Energy Marketing segment is comprised of NFR’s operations. NFR markets natural gas to industrial, wholesale, commercial, public authority and residential customers primarily in western and central New York and northwestern Pennsylvania, offering competitively priced natural gas for its customers. | ||||||||||||||||||||||||||||||||||||
The data presented in the tables below reflects financial information for the segments and reconciliations to consolidated amounts. The accounting policies of the segments are the same as those described in Note A — Summary of Significant Accounting Policies. Sales of products or services between segments are billed at regulated rates or at market rates, as applicable. The Company evaluates segment performance based on income before discontinued operations, extraordinary items and cumulative effects of changes in accounting (when applicable). When these items are not applicable, the Company evaluates performance based on net income. Energy Marketing segment revenue from external customers and net income for the year ended September 30, 2014 reflect the impact of $8.5 million and $0.6 million, respectively, of unbilled revenue and related incremental margin (net of tax). In prior periods, Energy Marketing segment revenues and related purchased gas costs were recorded when billed, resulting in a one month lag. The impact of not recording unbilled revenue and related costs was immaterial in all prior periods. | ||||||||||||||||||||||||||||||||||||
Year Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Exploration | Pipeline | Gathering | Utility | Energy | Total | All | Corporate | Total | ||||||||||||||||||||||||||||
and | and | Marketing | Reportable | Other | and | Consolidated | ||||||||||||||||||||||||||||||
Production | Storage | Segments | Intersegment | |||||||||||||||||||||||||||||||||
Eliminations | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Revenue from External Customers(1) | $ | 804,096 | $ | 200,664 | $ | 673 | $ | 831,156 | $ | 271,993 | $ | 2,108,582 | $ | 3,532 | $ | 967 | $ | 2,113,081 | ||||||||||||||||||
Intersegment Revenues | $ | — | $ | 83,744 | $ | 69,937 | $ | 18,462 | $ | 1,159 | $ | 173,302 | $ | — | $ | (173,302 | ) | $ | — | |||||||||||||||||
Interest Income | $ | 1,909 | $ | 284 | $ | 120 | $ | 3,010 | $ | 173 | $ | 5,496 | $ | 106 | $ | (1,432 | ) | $ | 4,170 | |||||||||||||||||
Interest Expense | $ | 42,232 | $ | 26,428 | $ | 1,726 | $ | 27,693 | $ | 31 | $ | 98,110 | $ | 6 | $ | (3,839 | ) | $ | 94,277 | |||||||||||||||||
Depreciation, Depletion and Amortization | $ | 296,210 | $ | 36,642 | $ | 6,116 | $ | 43,594 | $ | 197 | $ | 382,759 | $ | 344 | $ | 678 | $ | 383,781 | ||||||||||||||||||
Income Tax Expense (Benefit) | $ | 81,370 | $ | 47,100 | $ | 23,636 | $ | 33,918 | $ | 3,761 | $ | 189,785 | $ | 822 | $ | (993 | ) | $ | 189,614 | |||||||||||||||||
Segment Profit: Net Income (Loss) | $ | 121,569 | $ | 77,559 | $ | 32,709 | $ | 64,059 | $ | 6,631 | $ | 302,527 | $ | 1,160 | $ | (4,274 | ) | $ | 299,413 | |||||||||||||||||
Expenditures for Additions to Long-Lived Assets | $ | 602,705 | $ | 139,821 | $ | 137,799 | $ | 88,810 | $ | 264 | $ | 969,399 | $ | 274 | $ | 234 | $ | 969,907 | ||||||||||||||||||
At September 30, 2014 | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Segment Assets | $ | 3,100,514 | $ | 1,367,181 | $ | 326,662 | $ | 1,862,850 | $ | 76,238 | $ | 6,733,445 | $ | 86,460 | $ | (80,308 | ) | $ | 6,739,597 | |||||||||||||||||
Year Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Exploration | Pipeline | Gathering | Utility | Energy | Total | All | Corporate | Total | ||||||||||||||||||||||||||||
and | and | Marketing | Reportable | Other | and | Consolidated | ||||||||||||||||||||||||||||||
Production | Storage | Segments | Intersegment | |||||||||||||||||||||||||||||||||
Elimination | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Revenue from External Customers(1) | $ | 702,937 | $ | 178,184 | $ | 1,324 | $ | 730,319 | $ | 211,990 | $ | 1,824,754 | $ | 3,910 | $ | 887 | $ | 1,829,551 | ||||||||||||||||||
Intersegment Revenues | $ | — | $ | 89,424 | $ | 33,457 | $ | 16,020 | $ | 1,384 | $ | 140,285 | $ | — | $ | (140,285 | ) | $ | — | |||||||||||||||||
Interest Income | $ | 1,501 | $ | 193 | $ | 55 | $ | 3,417 | $ | 169 | $ | 5,335 | $ | 115 | $ | (1,115 | ) | $ | 4,335 | |||||||||||||||||
Interest Expense | $ | 39,745 | $ | 26,248 | $ | 2,283 | $ | 29,076 | $ | 36 | $ | 97,388 | $ | 2 | $ | (3,279 | ) | $ | 94,111 | |||||||||||||||||
Depreciation, Depletion and Amortization | $ | 243,431 | $ | 35,156 | $ | 3,945 | $ | 42,729 | $ | 123 | $ | 325,384 | $ | 577 | $ | 799 | $ | 326,760 | ||||||||||||||||||
Income Tax Expense (Benefit) | $ | 95,317 | $ | 38,626 | $ | 10,287 | $ | 31,065 | $ | 2,450 | $ | 177,745 | $ | 529 | $ | (5,516 | ) | $ | 172,758 | |||||||||||||||||
Segment Profit: Net Income (Loss) | $ | 115,391 | $ | 63,245 | $ | 13,321 | $ | 65,686 | $ | 4,589 | $ | 262,232 | $ | 894 | $ | (3,125 | ) | $ | 260,001 | |||||||||||||||||
Expenditures for Additions to Long-Lived Assets | $ | 533,129 | $ | 56,144 | $ | 54,792 | $ | 71,970 | $ | 595 | $ | 716,630 | $ | 307 | $ | 160 | $ | 717,097 | ||||||||||||||||||
At September 30, 2013 | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Segment Assets | $ | 2,746,233 | $ | 1,246,027 | $ | 203,323 | $ | 1,870,587 | $ | 67,267 | $ | 6,133,437 | $ | 95,793 | $ | (10,883 | ) | $ | 6,218,347 | |||||||||||||||||
Year Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Exploration | Pipeline | Gathering | Utility | Energy | Total | All | Corporate | Total | ||||||||||||||||||||||||||||
and | and | Marketing | Reportable | Other | and | Consolidated | ||||||||||||||||||||||||||||||
Production | Storage | Segments | Intersegment | |||||||||||||||||||||||||||||||||
Eliminations | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Revenue from External Customers(1) | $ | 558,180 | $ | 172,312 | $ | 704 | $ | 704,518 | $ | 186,579 | $ | 1,622,293 | $ | 3,603 | $ | 957 | $ | 1,626,853 | ||||||||||||||||||
Intersegment Revenues | $ | — | $ | 86,963 | $ | 16,771 | $ | 14,604 | $ | 1,425 | $ | 119,763 | $ | — | $ | (119,763 | ) | $ | — | |||||||||||||||||
Interest Income | $ | 1,493 | $ | 199 | $ | 1 | $ | 2,765 | $ | 188 | $ | 4,646 | $ | 174 | $ | (1,131 | ) | $ | 3,689 | |||||||||||||||||
Interest Expense | $ | 29,243 | $ | 25,603 | $ | 1,444 | $ | 33,181 | $ | 41 | $ | 89,512 | $ | 294 | $ | (3,566 | ) | $ | 86,240 | |||||||||||||||||
Depreciation, Depletion and Amortization | $ | 187,624 | $ | 38,182 | $ | 1,691 | $ | 42,757 | $ | 90 | $ | 270,344 | $ | 400 | $ | 786 | $ | 271,530 | ||||||||||||||||||
Income Tax Expense (Benefit) | $ | 79,050 | $ | 37,655 | $ | 4,825 | $ | 29,110 | $ | 1,933 | $ | 152,573 | $ | (490 | ) | $ | (1,529 | ) | $ | 150,554 | ||||||||||||||||
Segment Profit: Net Income (Loss) | $ | 96,498 | $ | 60,527 | $ | 6,855 | $ | 58,590 | $ | 4,169 | $ | 226,639 | $ | 13 | $ | (6,575 | ) | $ | 220,077 | |||||||||||||||||
Expenditures for Additions to Long-Lived Assets | $ | 693,810 | $ | 144,167 | $ | 80,012 | $ | 58,284 | $ | 770 | $ | 977,043 | $ | 5 | $ | 346 | $ | 977,394 | ||||||||||||||||||
At September 30, 2012 | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Segment Assets | $ | 2,367,485 | $ | 1,243,862 | $ | 116,756 | $ | 2,070,413 | $ | 61,968 | $ | 5,860,484 | $ | 93,178 | $ | (18,520 | ) | $ | 5,935,142 | |||||||||||||||||
-1 | All Revenue from External Customers originated in the United States. | |||||||||||||||||||||||||||||||||||
Geographic Information | At September 30 | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Long-Lived Assets: | ||||||||||||||||||||||||||||||||||||
United States | $ | 6,362,265 | $ | 5,769,670 | $ | 5,579,566 | ||||||||||||||||||||||||||||||
Quarterly_Financial_Data
Quarterly Financial Data | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Data | ' | ||||||||||||||||||||
Quarterly Financial Data (unaudited) | |||||||||||||||||||||
In the opinion of management, the following quarterly information includes all adjustments necessary for a fair statement of the results of operations for such periods. Per common share amounts are calculated using the weighted average number of shares outstanding during each quarter. The total of all quarters may differ from the per common share amounts shown on the Consolidated Statements of Income. Those per common share amounts are based on the weighted average number of shares outstanding for the entire fiscal year. Because of the seasonal nature of the Company’s heating business, there are substantial variations in operations reported on a quarterly basis. | |||||||||||||||||||||
Quarter Ended | Operating | Operating | Net Income | Earnings per | |||||||||||||||||
Revenues | Income | Available for | Common Share | ||||||||||||||||||
Common Stock | Basic | Diluted | |||||||||||||||||||
(Thousands, except per common share amounts) | |||||||||||||||||||||
2014 | |||||||||||||||||||||
9/30/14 | $ | 366,623 | $ | 102,004 | $ | 57,431 | $ | 0.68 | $ | 0.68 | |||||||||||
6/30/14 | $ | 440,144 | $ | 127,013 | $ | 64,520 | $ | 0.77 | $ | 0.76 | |||||||||||
3/31/14 | $ | 756,242 | $ | 180,075 | $ | 95,210 | -1 | $ | 1.14 | $ | 1.12 | ||||||||||
12/31/13 | $ | 550,072 | $ | 160,581 | $ | 82,252 | $ | 0.98 | $ | 0.97 | |||||||||||
2013 | |||||||||||||||||||||
9/30/13 | $ | 338,863 | $ | 96,636 | $ | 47,842 | -2 | $ | 0.57 | $ | 0.57 | ||||||||||
6/30/13 | $ | 440,008 | $ | 127,004 | $ | 58,495 | $ | 0.7 | $ | 0.69 | |||||||||||
3/31/13 | $ | 597,826 | $ | 162,991 | $ | 85,720 | $ | 1.03 | $ | 1.02 | |||||||||||
12/31/12 | $ | 452,854 | $ | 131,207 | $ | 67,944 | $ | 0.81 | $ | 0.81 | |||||||||||
-1 | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | ||||||||||||||||||||
-2 | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. |
Market_For_Common_Stock_And_Re
Market For Common Stock And Related Shareholder Matters | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Market For Common Stock And Related Shareholder Matters [Abstract] | ' | |||||||||||
Market For Common Stock And Related Shareholder Matters (unaudited) | ' | |||||||||||
Market for Common Stock and Related Shareholder Matters (unaudited) | ||||||||||||
At September 30, 2014, there were 12,654 registered shareholders of Company common stock. The common stock is listed and traded on the New York Stock Exchange. Information related to restrictions on the payment of dividends can be found in Note E — Capitalization and Short-Term Borrowings. The quarterly price ranges (based on intra-day prices) and quarterly dividends declared for the fiscal years ended September 30, 2014 and 2013, are shown below: | ||||||||||||
Price Range | Dividends | |||||||||||
Quarter Ended | High | Low | Declared | |||||||||
2014 | ||||||||||||
9/30/14 | $ | 78.79 | $ | 65.29 | $ | 0.385 | ||||||
6/30/14 | $ | 78.46 | $ | 68.5 | $ | 0.385 | ||||||
3/31/14 | $ | 77.05 | $ | 68.12 | $ | 0.375 | ||||||
12/31/13 | $ | 72.53 | $ | 65.23 | $ | 0.375 | ||||||
2013 | ||||||||||||
9/30/13 | $ | 69.27 | $ | 57.52 | $ | 0.375 | ||||||
6/30/13 | $ | 64.58 | $ | 56.8 | $ | 0.375 | ||||||
3/31/13 | $ | 61.44 | $ | 48.51 | $ | 0.365 | ||||||
12/31/12 | $ | 55.66 | $ | 49 | $ | 0.365 | ||||||
Supplementary_Information_For_
Supplementary Information For Oil And Gas Producing Activities | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] | ' | |||||||||||||||||||
Supplementary Information for Oil and Gas Producing Activities (unaudited, except for Capitalized Costs Relating to Oil and Gas Producing Activities) | ' | |||||||||||||||||||
Supplementary Information for Oil and Gas Producing Activities (unaudited, except for Capitalized Costs Relating to Oil and Gas Producing Activities) | ||||||||||||||||||||
The Company follows authoritative guidance related to oil and gas exploration and production activities that aligns the reserve estimation and disclosure requirements with the requirements of the SEC Modernization of Oil and Gas Reporting rule, which the Company also follows. The SEC rules require companies to value their year-end reserves using an unweighted arithmetic average of the first day of the month oil and gas prices for each month within the twelve month period prior to the end of the reporting period. | ||||||||||||||||||||
The following supplementary information is presented in accordance with the authoritative guidance regarding disclosures about oil and gas producing activities and related SEC accounting rules. All monetary amounts are expressed in U.S. dollars. | ||||||||||||||||||||
Capitalized Costs Relating to Oil and Gas Producing Activities | ||||||||||||||||||||
At September 30 | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
(Thousands) | ||||||||||||||||||||
Proved Properties(1) | $ | 3,941,143 | $ | 3,393,612 | ||||||||||||||||
Unproved Properties | 141,719 | 106,085 | ||||||||||||||||||
4,082,862 | 3,499,697 | |||||||||||||||||||
Less — Accumulated Depreciation, Depletion and Amortization | 1,211,610 | 919,989 | ||||||||||||||||||
$ | 2,871,252 | $ | 2,579,708 | |||||||||||||||||
-1 | Includes asset retirement costs of $75.7 million and $80.6 million at September 30, 2014 and 2013, respectively. | |||||||||||||||||||
Costs related to unproved properties are excluded from amortization until proved reserves are found or it is determined that the unproved properties are impaired. All costs related to unproved properties are reviewed quarterly to determine if impairment has occurred. The amount of any impairment is transferred to the pool of capitalized costs being amortized. Although the timing of the ultimate evaluation or disposition of the unproved properties cannot be determined, the Company expects the majority of its acquisition costs associated with unproved properties to be transferred into the amortization base by 2020. It expects the majority of its development and exploration costs associated with unproved properties to be transferred into the amortization base by 2015. Following is a summary of costs excluded from amortization at September 30, 2014: | ||||||||||||||||||||
Total | Year Costs Incurred | |||||||||||||||||||
as of | ||||||||||||||||||||
September 30, | ||||||||||||||||||||
2014 | 2014 | 2013 | 2012 | Prior | ||||||||||||||||
(Thousands) | ||||||||||||||||||||
Acquisition Costs | $ | 61,712 | $ | 7,057 | $ | 905 | $ | 5,585 | $ | 48,165 | ||||||||||
Development Costs | 42,362 | 39,339 | 677 | 1,405 | 941 | |||||||||||||||
Exploration Costs | 36,882 | 36,882 | — | — | — | |||||||||||||||
Capitalized Interest | 763 | 763 | — | — | — | |||||||||||||||
$ | 141,719 | $ | 84,041 | $ | 1,582 | $ | 6,990 | $ | 49,106 | |||||||||||
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Property Acquisition Costs: | ||||||||||||||||||||
Proved | $ | 18,213 | $ | 7,575 | $ | 13,095 | ||||||||||||||
Unproved | 7,884 | 9,274 | 13,867 | |||||||||||||||||
Exploration Costs(1) | 71,850 | 49,483 | 84,624 | |||||||||||||||||
Development Costs(2) | 490,164 | 460,554 | 576,397 | |||||||||||||||||
Asset Retirement Costs | (4,946 | ) | 37,546 | 10,344 | ||||||||||||||||
$ | 583,165 | $ | 564,432 | $ | 698,327 | |||||||||||||||
-1 | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.4 million and $1.0 million, respectively. | |||||||||||||||||||
-2 | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.7 million and $2.0 million, respectively. | |||||||||||||||||||
For the years ended September 30, 2014, 2013 and 2012, the Company spent $179.9 million, $148.5 million and $216.6 million, respectively, developing proved undeveloped reserves. | ||||||||||||||||||||
Results of Operations for Producing Activities | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands, except per Mcfe amounts) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||
Natural Gas (includes revenues from sales to affiliates of $1 for all years presented and transfers to operations of $2,145, $612 and $0, respectively) | $ | 515,080 | $ | 371,311 | $ | 181,544 | ||||||||||||||
Oil, Condensate and Other Liquids | 298,179 | 291,762 | 307,018 | |||||||||||||||||
Total Operating Revenues(1) | 813,259 | 663,073 | 488,562 | |||||||||||||||||
Production/Lifting Costs | 165,534 | 119,243 | 83,361 | |||||||||||||||||
Franchise/Ad Valorem Taxes | 20,765 | 17,200 | 23,620 | |||||||||||||||||
Accretion Expense | 6,192 | 3,929 | 3,084 | |||||||||||||||||
Depreciation, Depletion and Amortization ($1.82, $1.98 and $2.19 per Mcfe of production) | 291,651 | 238,467 | 182,759 | |||||||||||||||||
Income Tax Expense | 140,484 | 120,431 | 81,904 | |||||||||||||||||
Results of Operations for Producing Activities (excluding corporate overheads and interest charges) | $ | 188,633 | $ | 163,803 | $ | 113,834 | ||||||||||||||
-1 | Exclusive of hedging gains and losses. See further discussion in Note G — Financial Instruments. | |||||||||||||||||||
Reserve Quantity Information | ||||||||||||||||||||
The Company’s proved oil and gas reserve estimates are prepared by the Company’s reservoir engineers who meet the qualifications of Reserve Estimator per the “Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserve Information” promulgated by the Society of Petroleum Engineers as of February 19, 2007. The Company maintains comprehensive internal reserve guidelines and a continuing education program designed to keep its staff up to date with current SEC regulations and guidance. | ||||||||||||||||||||
The Company’s Vice President of Reservoir Engineering is the primary technical person responsible for overseeing the Company’s reserve estimation process and engaging and overseeing the third party reserve audit. His qualifications include a Bachelor of Science Degree in Petroleum Engineering and over 25 years of Petroleum Engineering experience with both major and independent oil and gas companies. He has maintained oversight of the Company’s reserve estimation process for the past eleven years. He is a member of the Society of Petroleum Engineers and a Registered Professional Engineer in the State of Texas. | ||||||||||||||||||||
The Company maintains a system of internal controls over the reserve estimation process. Management reviews the price, heat content, lease operating cost and future investment assumptions used in the economic model that determines the reserves. The Vice President of Reservoir Engineering reviews and approves all new reserve assignments and significant reserve revisions. Access to the reserve database is restricted. Significant changes to the reserve report are reviewed by senior management on a quarterly basis. Periodically, the Company’s internal audit department assesses the design of these controls and performs testing to determine the effectiveness of such controls. | ||||||||||||||||||||
All of the Company’s reserve estimates are audited annually by Netherland, Sewell and Associates, Inc. (NSAI). Since 1961, NSAI has evaluated gas and oil properties and independently certified petroleum reserve quantities in the United States and internationally under the Texas Board of Professional Engineers Registration No. F-002699. The primary technical persons (employed by NSAI) that are responsible for leading the audit include a professional engineer registered with the State of Texas (consulting at NSAI since 2004 and with over 5 years of prior industry experience in petroleum engineering) and a professional geoscientist registered in the State of Texas (consulting at NSAI since 2008 with over 11 years of prior industry experience in petroleum geosciences). NSAI was satisfied with the methods and procedures used by the Company to prepare its reserve estimates at September 30, 2014 and did not identify any problems which would cause it to take exception to those estimates. | ||||||||||||||||||||
The reliable technologies that were utilized in estimating the reserves include wire line open-hole log data, performance data, log cross sections, core data, 2D and 3D seismic data and statistical analysis. The statistical method utilized production performance from both the Company’s and competitors’ wells. Geophysical data includes data from the Company’s wells, published documents, state data-sites and 2D and 3D seismic data. This data was used to confirm continuity of the formation. | ||||||||||||||||||||
Gas MMcf | ||||||||||||||||||||
U. S. | ||||||||||||||||||||
Appalachian | West | Total | ||||||||||||||||||
Region | Coast | Company | ||||||||||||||||||
Region | ||||||||||||||||||||
Proved Developed and Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 606,606 | 68,316 | 674,922 | |||||||||||||||||
Extensions and Discoveries | 435,460 | -1 | 638 | 436,098 | ||||||||||||||||
Revisions of Previous Estimates | (53,992 | ) | (2,463 | ) | (56,455 | ) | ||||||||||||||
Production | (62,663 | ) | -2 | (3,468 | ) | (66,131 | ) | |||||||||||||
September 30, 2012 | 925,411 | 63,023 | 988,434 | |||||||||||||||||
Extensions and Discoveries | 360,922 | -1 | 702 | 361,624 | ||||||||||||||||
Revisions of Previous Estimates | 53,038 | 112 | 53,150 | |||||||||||||||||
Production | (100,633 | ) | -2 | (3,060 | ) | (103,693 | ) | |||||||||||||
September 30, 2013 | 1,238,738 | 60,777 | 1,299,515 | |||||||||||||||||
Extensions and Discoveries | 446,821 | -1 | — | 446,821 | ||||||||||||||||
Revisions of Previous Estimates | 43,690 | 1,358 | 45,048 | |||||||||||||||||
Production | (139,097 | ) | -2 | (3,210 | ) | (142,307 | ) | |||||||||||||
Purchases of Minerals in Place | 33,986 | — | 33,986 | |||||||||||||||||
Sale of Minerals in Place | (76 | ) | (103 | ) | (179 | ) | ||||||||||||||
September 30, 2014 | 1,624,062 | 58,822 | 1,682,884 | |||||||||||||||||
Proved Developed Reserves: | ||||||||||||||||||||
September 30, 2011 | 350,458 | 63,965 | 414,423 | |||||||||||||||||
September 30, 2012 | 544,560 | 59,923 | 604,483 | |||||||||||||||||
September 30, 2013 | 807,055 | 59,862 | 866,917 | |||||||||||||||||
September 30, 2014 | 1,119,901 | 57,907 | 1,177,808 | |||||||||||||||||
Proved Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 256,148 | 4,351 | 260,499 | |||||||||||||||||
September 30, 2012 | 380,851 | 3,100 | 383,951 | |||||||||||||||||
September 30, 2013 | 431,683 | 915 | 432,598 | |||||||||||||||||
September 30, 2014 | 504,161 | 915 | 505,076 | |||||||||||||||||
-1 | Extensions and discoveries include 435 Bcf (during 2012), 355 Bcf (during 2013) and 442 Bcf (during 2014), of Marcellus Shale gas in the Appalachian Region. | |||||||||||||||||||
-2 | Production includes 55,812 MMcf (during 2012), 93,999 MMcf (during 2013) and 131,590 MMcf (during 2014), from Marcellus Shale fields (which exceed 15% of total reserves). | |||||||||||||||||||
Oil Mbbl | ||||||||||||||||||||
U. S. | ||||||||||||||||||||
Appalachian | West | Total | ||||||||||||||||||
Region | Coast | Company | ||||||||||||||||||
Region | ||||||||||||||||||||
Proved Developed and Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 279 | 43,066 | 43,345 | |||||||||||||||||
Extensions and Discoveries | 28 | 1,229 | 1,257 | |||||||||||||||||
Revisions of Previous Estimates | 35 | 1,095 | 1,130 | |||||||||||||||||
Production | (36 | ) | (2,834 | ) | (2,870 | ) | ||||||||||||||
September 30, 2012 | 306 | 42,556 | 42,862 | |||||||||||||||||
Extensions and Discoveries | — | 2,443 | 2,443 | |||||||||||||||||
Revisions of Previous Estimates | 5 | (881 | ) | (876 | ) | |||||||||||||||
Production | (28 | ) | (2,803 | ) | (2,831 | ) | ||||||||||||||
September 30, 2013 | 283 | 41,315 | 41,598 | |||||||||||||||||
Extensions and Discoveries | 18 | 1,521 | 1,539 | |||||||||||||||||
Revisions of Previous Estimates | (17 | ) | (1,677 | ) | (1,694 | ) | ||||||||||||||
Production | (31 | ) | (3,005 | ) | (3,036 | ) | ||||||||||||||
Purchases of Minerals in Place | — | 83 | 83 | |||||||||||||||||
Sales of Minerals in Place | — | (13 | ) | (13 | ) | |||||||||||||||
September 30, 2014 | 253 | 38,224 | 38,477 | |||||||||||||||||
Proved Developed Reserves: | ||||||||||||||||||||
September 30, 2011 | 274 | 37,306 | 37,580 | |||||||||||||||||
September 30, 2012 | 306 | 38,138 | 38,444 | |||||||||||||||||
September 30, 2013 | 283 | 38,082 | 38,365 | |||||||||||||||||
September 30, 2014 | 253 | 37,002 | 37,255 | |||||||||||||||||
Proved Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 5 | 5,760 | 5,765 | |||||||||||||||||
September 30, 2012 | — | 4,418 | 4,418 | |||||||||||||||||
September 30, 2013 | — | 3,233 | 3,233 | |||||||||||||||||
September 30, 2014 | — | 1,222 | 1,222 | |||||||||||||||||
The Company’s proved undeveloped (PUD) reserves increased from 452 Bcfe at September 30, 2013 to 512 Bcfe at September 30, 2014. PUD reserves in the Marcellus Shale increased from 432 Bcf at September 30, 2013 to 504 Bcf at September 30, 2014. The Company’s total PUD reserves were 27% of total proved reserves at September 30, 2014, down from 29% of total proved reserves at September 30, 2013. | ||||||||||||||||||||
The Company’s PUD reserves increased from 410 Bcfe at September 30, 2012 to 452 Bcfe at September 30, 2013. PUD reserves in the Marcellus Shale increased from 381 Bcf at September 30, 2012 to 432 Bcf at September 30, 2013. The Company’s total PUD reserves were 29% of total proved reserves at September 30, 2013, down from 33% of total proved reserves at September 30, 2012. | ||||||||||||||||||||
The increase in PUD reserves in 2014 of 60 Bcfe is a result of 290 Bcfe in new PUD reserve additions (288 Bcfe from the Marcellus Shale), 20 Bcfe in PUD reserves acquired, 12 Bcfe in upward revisions to remaining PUD reserves, offset by 229 Bcfe in PUD conversions to developed reserves and 33 Bcfe in PUD reserves removed. The PUD reserves removed were primarily in the Marcellus Shale (24 Bcfe) in Seneca’s non-operated joint venture in Clearfield County where the operator had previously drilled and cased the horizontal wells to total depth and does not appear now to have firm plans for their completion. An additional 9 Bcfe (1,501 Mbbl) of PUD reserves were removed at the Midway Sunset field in the Tulare reservoir as the Company has no near term plans to develop these reserves as it is employing capital elsewhere. | ||||||||||||||||||||
The increase in PUD reserves in 2013 of 42 Bcfe is a result of 221 Bcfe in new PUD reserve additions (219 Bcfe from the Marcellus Shale), offset by 160 Bcfe in PUD conversions to developed reserves and 19 Bcfe in downward PUD revisions. The downward revisions were primarily due to reductions to planned lateral lengths for several horizontal wells in the Marcellus Shale. | ||||||||||||||||||||
The Company invested $180 million during the year ended September 30, 2014 to convert 229 Bcfe (248 Bcfe including revisions) of PUD reserves to developed reserves. This represents 51% of the PUD reserves booked at September 30, 2013. The Company invested $149 million during the year ended September 30, 2013 to convert 160 Bcfe (171 Bcfe including revisions) of September 30, 2012 PUD reserves to proved developed reserves. This represented 39% of the PUD reserves booked at September 30, 2012. In 2015, the Company estimates that it will invest approximately $239 million to develop its PUD reserves. The Company is committed to developing its PUD reserves within five years as required by the SEC’s final rule on Modernization of Oil and Gas Reporting. Since that rule, and over the last five years, the Company developed 19% of its beginning year PUD reserves in fiscal 2010, 47% of its beginning year PUD reserves in fiscal 2011, 33% of its beginning year PUD reserves in fiscal 2012, 39% of its beginning year PUD reserves in fiscal 2013 and 51% of its beginning year PUD reserves in fiscal 2014. | ||||||||||||||||||||
At September 30, 2014, the Company does not have a material concentration of proved undeveloped reserves that have been on the books for more than five years at the corporate level, country level or field level. All of the Company’s proved reserves are in the United States. | ||||||||||||||||||||
Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves | ||||||||||||||||||||
The Company cautions that the following presentation of the standardized measure of discounted future net cash flows is intended to be neither a measure of the fair market value of the Company’s oil and gas properties, nor an estimate of the present value of actual future cash flows to be obtained as a result of their development and production. It is based upon subjective estimates of proved reserves only and attributes no value to categories of reserves other than proved reserves, such as probable or possible reserves, or to unproved acreage. Furthermore, in accordance with the SEC’s final rule on Modernization of Oil and Gas Reporting, it is based on the unweighted arithmetic average of the first day of the month oil and gas prices for each month within the twelve-month period prior to the end of the reporting period and costs adjusted only for existing contractual changes. It assumes an arbitrary discount rate of 10%. Thus, it gives no effect to future price and cost changes certain to occur under widely fluctuating political and economic conditions. | ||||||||||||||||||||
The standardized measure is intended instead to provide a means for comparing the value of the Company’s proved reserves at a given time with those of other oil- and gas-producing companies than is provided by a simple comparison of raw proved reserve quantities. | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Future Cash Inflows | $ | 10,001,545 | $ | 8,943,942 | $ | 7,373,129 | ||||||||||||||
Less: | ||||||||||||||||||||
Future Production Costs | 2,795,657 | 2,334,393 | 1,919,530 | |||||||||||||||||
Future Development Costs | 790,033 | 749,876 | 619,573 | |||||||||||||||||
Future Income Tax Expense at Applicable Statutory Rate | 2,434,370 | 2,113,101 | 1,812,055 | |||||||||||||||||
Future Net Cash Flows | 3,981,485 | 3,746,572 | 3,021,971 | |||||||||||||||||
Less: | ||||||||||||||||||||
10% Annual Discount for Estimated Timing of Cash Flows | 1,914,607 | 1,780,206 | 1,552,180 | |||||||||||||||||
Standardized Measure of Discounted Future Net Cash Flows | $ | 2,066,878 | $ | 1,966,366 | $ | 1,469,791 | ||||||||||||||
The principal sources of change in the standardized measure of discounted future net cash flows were as follows: | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Standardized Measure of Discounted Future | ||||||||||||||||||||
Net Cash Flows at Beginning of Year | $ | 1,966,366 | $ | 1,469,791 | $ | 1,524,157 | ||||||||||||||
Sales, Net of Production Costs | (626,960 | ) | (526,630 | ) | (381,581 | ) | ||||||||||||||
Net Changes in Prices, Net of Production Costs | (38,723 | ) | 339,655 | (385,019 | ) | |||||||||||||||
Extensions and Discoveries | 381,008 | 390,255 | 224,474 | |||||||||||||||||
Changes in Estimated Future Development Costs | 68,731 | 6,117 | 29,627 | |||||||||||||||||
Purchases of Minerals in Place | 34,705 | — | — | |||||||||||||||||
Sales of Minerals in Place | (691 | ) | — | — | ||||||||||||||||
Previously Estimated Development Costs Incurred | 179,502 | 148,535 | 252,967 | |||||||||||||||||
Net Change in Income Taxes at Applicable Statutory Rate | (231,807 | ) | (130,574 | ) | (19,280 | ) | ||||||||||||||
Revisions of Previous Quantity Estimates | 55,184 | 34,864 | 103,472 | |||||||||||||||||
Accretion of Discount and Other | 279,563 | 234,353 | 120,974 | |||||||||||||||||
Standardized Measure of Discounted Future Net Cash Flows at End of Year | $ | 2,066,878 | $ | 1,966,366 | $ | 1,469,791 | ||||||||||||||
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||||
Valuation And Qualifying Accounts | ' | |||||||||||||||||||
Schedule II — Valuation and Qualifying Accounts | ||||||||||||||||||||
Description | Balance at Beginning of Period | Additions Charged to Costs and Expenses | Additions Charged to Other Accounts(1) | Deductions (2) | Balance at End of Period | |||||||||||||||
Year Ended September 30, 2014 | ||||||||||||||||||||
Allowance for Uncollectible Accounts | $ | 27,144 | $ | 10,856 | $ | 3,241 | $ | 9,430 | $ | 31,811 | ||||||||||
Year Ended September 30, 2013 | ||||||||||||||||||||
Allowance for Uncollectible Accounts | $ | 30,317 | $ | 5,568 | $ | 2,390 | $ | 11,131 | $ | 27,144 | ||||||||||
Year Ended September 30, 2012 | ||||||||||||||||||||
Allowance for Uncollectible Accounts | $ | 31,039 | $ | 9,183 | $ | 1,946 | $ | 11,851 | $ | 30,317 | ||||||||||
-1 | Represents the discount on accounts receivable purchased in accordance with the Utility segment’s 2005 New York rate agreement. | |||||||||||||||||||
-2 | Amounts represent net accounts receivable written-off. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Principles Of Consolidation | ' | |||||||||||||||
Principles of Consolidation | ||||||||||||||||
The Company consolidates all entities in which it has a controlling financial interest. All significant intercompany balances and transactions are eliminated. The Company uses proportionate consolidation when accounting for drilling arrangements related to oil and gas producing properties accounted for under the full cost method of accounting. | ||||||||||||||||
The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||||
Regulation | ' | |||||||||||||||
Regulation | ||||||||||||||||
The Company is subject to regulation by certain state and federal authorities. The Company has accounting policies which conform to GAAP, as applied to regulated enterprises, and are in accordance with the accounting requirements and ratemaking practices of the regulatory authorities. Reference is made to Note C — Regulatory Matters for further discussion. | ||||||||||||||||
Revenue Recognition | ' | |||||||||||||||
Revenue Recognition | ||||||||||||||||
The Company’s Exploration and Production segment records revenue based on entitlement, which means that revenue is recorded based on the actual amount of gas or oil that is delivered to a pipeline and the Company’s ownership interest in the producing well. If a production imbalance occurs between what was supposed to be delivered to a pipeline and what was actually produced and delivered, the Company accrues the difference as an imbalance. | ||||||||||||||||
The Company’s Pipeline and Storage segment records revenue for natural gas transportation and storage services. Revenue from reservation charges on firm contracted capacity is recognized through equal monthly charges over the contract period regardless of the amount of gas that is transported or stored. Commodity charges on firm contracted capacity and interruptible contracts are recognized as revenue when physical deliveries of natural gas are made at the agreed upon delivery point or when gas is injected or withdrawn from the storage field. The point of delivery into the pipeline or injection or withdrawal from storage is the point at which ownership and risk of loss transfers to the buyer of such transportation and storage services. | ||||||||||||||||
In the Company’s Gathering segment, revenue is recorded at the point at which gathered volumes are delivered into interstate pipelines. | ||||||||||||||||
The Company’s Utility segment records revenue for gas sales and transportation in the period that gas is delivered to customers. This includes the recording of receivables for gas delivered but not yet billed to customers based on the Company's estimate of the amount of gas delivered between the last meter reading date and the end of the accounting period. Such receivables are a component of Unbilled Revenue on the Consolidated Balance Sheets. | ||||||||||||||||
The Company’s Energy Marketing segment records revenue for gas sales in the period that gas is delivered to customers. This includes the recording of receivables for gas delivered but not yet billed to customers based on the Company's estimate of the amount of gas delivered between the last meter reading date and the end of the accounting period. Such receivables are a component of Unbilled Revenue on the Consolidated Balance Sheets. | ||||||||||||||||
Allowance For Uncollectible Accounts | ' | |||||||||||||||
Allowance for Uncollectible Accounts | ||||||||||||||||
The allowance for uncollectible accounts is the Company’s best estimate of the amount of probable credit losses in the existing accounts receivable. The allowance is determined based on historical experience, the age and other specific information about customer accounts. Account balances are charged off against the allowance twelve months after the account is final billed or when it is anticipated that the receivable will not be recovered. | ||||||||||||||||
Regulatory Mechanisms | ' | |||||||||||||||
Regulatory Mechanisms | ||||||||||||||||
The Company’s rate schedules in the Utility segment contain clauses that permit adjustment of revenues to reflect price changes from the cost of purchased gas included in base rates. Differences between amounts currently recoverable and actual adjustment clause revenues, as well as other price changes and pipeline and storage company refunds not yet includable in adjustment clause rates, are deferred and accounted for as either unrecovered purchased gas costs or amounts payable to customers. Such amounts are generally recovered from (or passed back to) customers during the following fiscal year. | ||||||||||||||||
Estimated refund liabilities to ratepayers represent management’s current estimate of such refunds. Reference is made to Note C — Regulatory Matters for further discussion. | ||||||||||||||||
The impact of weather on revenues in the Utility segment’s New York rate jurisdiction is tempered by a WNC, which covers the eight-month period from October through May. The WNC is designed to adjust the rates of retail customers to reflect the impact of deviations from normal weather. Weather that is warmer than normal results in a surcharge being added to customers’ current bills, while weather that is colder than normal results in a refund being credited to customers’ current bills. Since the Utility segment’s Pennsylvania rate jurisdiction does not have a WNC, weather variations have a direct impact on the Pennsylvania rate jurisdiction’s revenues. | ||||||||||||||||
The impact of weather normalized usage per customer account in the Utility segment’s New York rate jurisdiction is tempered by a revenue decoupling mechanism. The effect of the revenue decoupling mechanism is to render the Company financially indifferent to throughput decreases resulting from conservation. Weather normalized usage per account that exceeds the average weather normalized usage per customer account results in a refund being credited to customers’ bills. Weather normalized usage per account that is below the average weather normalized usage per account results in a surcharge being added to customers’ bills. The surcharge or credit is calculated over a twelve-month period ending December 31st, and applied to customer bills annually, beginning March 1st. | ||||||||||||||||
In the Pipeline and Storage segment, the allowed rates that Supply Corporation and Empire bill their customers are based on a straight fixed-variable rate design, which allows recovery of all fixed costs, including return on equity and income taxes, through fixed monthly reservation charges. Because of this rate design, changes in throughput due to weather variations do not have a significant impact on the revenues of Supply Corporation or Empire. | ||||||||||||||||
Property, Plant And Equipment | ' | |||||||||||||||
Property, Plant and Equipment | ||||||||||||||||
In the Company’s Exploration and Production segment, oil and gas property acquisition, exploration and development costs are capitalized under the full cost method of accounting. Under this methodology, all costs associated with property acquisition, exploration and development activities are capitalized, including internal costs directly identified with acquisition, exploration and development activities. The internal costs that are capitalized do not include any costs related to production, general corporate overhead, or similar activities. The Company does not recognize any gain or loss on the sale or other disposition of oil and gas properties unless the gain or loss would significantly alter the relationship between capitalized costs and proved reserves of oil and gas attributable to a cost center. For further discussion of capitalized costs, refer to Note M — Supplementary Information for Oil and Gas Producing Activities. | ||||||||||||||||
Capitalized costs are subject to the SEC full cost ceiling test. The ceiling test, which is performed each quarter, determines a limit, or ceiling, on the amount of property acquisition, exploration and development costs that can be capitalized. The ceiling under this test represents (a) the present value of estimated future net cash flows, excluding future cash outflows associated with settling asset retirement obligations that have been accrued on the balance sheet, using a discount factor of 10%, which is computed by applying prices of oil and gas (as adjusted for hedging) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet, less estimated future expenditures, plus (b) the cost of unevaluated properties not being depleted, less (c) income tax effects related to the differences between the book and tax basis of the properties. The natural gas and oil prices used to calculate the full cost ceiling are based on an unweighted arithmetic average of the first day of the month oil and gas prices for each month within the twelve-month period prior to the end of the reporting period. If capitalized costs, net of accumulated depreciation, depletion and amortization and related deferred income taxes, exceed the ceiling at the end of any quarter, a permanent impairment is required to be charged to earnings in that quarter. In adjusting estimated future net cash flows for hedging under the ceiling test at September 30, 2014, 2013, and 2012, estimated future net cash flows were decreased by $33.6 million and increased by $71.6 million and $128.4 million, respectively. At September 30, 2014, the ceiling exceeded the book value of the oil and gas properties by approximately $148.4 million. | ||||||||||||||||
The principal assets of the Utility and Pipeline and Storage segments, consisting primarily of gas plant in service, are recorded at the historical cost when originally devoted to service. | ||||||||||||||||
Maintenance and repairs of property and replacements of minor items of property are charged directly to maintenance expense. The original cost of the regulated subsidiaries’ property, plant and equipment retired, and the cost of removal less salvage, are charged to accumulated depreciation. | ||||||||||||||||
Depreciation, Depletion And Amortization | ' | |||||||||||||||
Depreciation, Depletion and Amortization | ||||||||||||||||
For oil and gas properties, depreciation, depletion and amortization is computed based on quantities produced in relation to proved reserves using the units of production method. The cost of unproved oil and gas properties is excluded from this computation. In the All Other category, for timber properties, depletion, determined on a property by property basis, is charged to operations based on the actual amount of timber cut in relation to the total amount of recoverable timber. For all other property, plant and equipment, depreciation and amortization is computed using the straight-line method in amounts sufficient to recover costs over the estimated service lives of property in service. The following is a summary of depreciable plant by segment: | ||||||||||||||||
As of September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Exploration and Production | $ | 3,996,834 | $ | 3,437,767 | ||||||||||||
Pipeline and Storage | 1,609,593 | 1,547,192 | ||||||||||||||
Gathering | 239,507 | 130,082 | ||||||||||||||
Utility | 1,833,104 | 1,778,140 | ||||||||||||||
Energy Marketing | 3,366 | 3,460 | ||||||||||||||
All Other and Corporate | 108,986 | 109,690 | ||||||||||||||
$ | 7,791,390 | $ | 7,006,331 | |||||||||||||
Average depreciation, depletion and amortization rates are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Exploration and Production, per Mcfe(1) | $ | 1.85 | $ | 2.02 | $ | 2.25 | ||||||||||
Pipeline and Storage | 2.4 | % | 2.5 | % | 2.9 | % | ||||||||||
Gathering | 3.3 | % | 3.7 | % | 3.3 | % | ||||||||||
Utility | 2.6 | % | 2.6 | % | 2.6 | % | ||||||||||
Energy Marketing | 5.8 | % | 3.9 | % | 3.6 | % | ||||||||||
All Other and Corporate | 0.9 | % | 1.3 | % | 1.1 | % | ||||||||||
-1 | Amounts include depletion of oil and gas producing properties as well as depreciation of fixed assets. As disclosed in Note M — Supplementary Information for Oil and Gas Producing Properties, depletion of oil and gas producing properties amounted to $1.82, $1.98 and $2.19 per Mcfe of production in 2014, 2013 and 2012, respectively. | |||||||||||||||
Goodwill | ' | |||||||||||||||
Goodwill | ||||||||||||||||
The Company has recognized goodwill of $5.5 million as of September 30, 2014 and 2013 on its Consolidated Balance Sheets related to the Company’s acquisition of Empire in 2003. The Company accounts for goodwill in accordance with the current authoritative guidance, which requires the Company to test goodwill for impairment annually. At September 30, 2014, 2013 and 2012, the fair value of Empire was greater than its book value. As such, the goodwill was not considered impaired at those dates. Going back to the origination of the goodwill in 2003, the Company has never recorded an impairment of its goodwill balance. | ||||||||||||||||
Financial Instruments | ' | |||||||||||||||
Financial Instruments | ||||||||||||||||
Unrealized gains or losses from the Company’s investments in an equity mutual fund and the stock of an insurance company (securities available for sale) are recorded as a component of accumulated other comprehensive income (loss). Reference is made to Note G — Financial Instruments for further discussion. | ||||||||||||||||
The Company uses a variety of derivative financial instruments to manage a portion of the market risk associated with fluctuations in the price of natural gas and crude oil. These instruments include price swap agreements and futures contracts. The Company accounts for these instruments as either cash flow hedges or fair value hedges. In both cases, the fair value of the instrument is recognized on the Consolidated Balance Sheets as either an asset or a liability labeled Fair Value of Derivative Financial Instruments. Reference is made to Note F — Fair Value Measurements for further discussion concerning the fair value of derivative financial instruments. | ||||||||||||||||
For effective cash flow hedges, the offset to the asset or liability that is recorded is a gain or loss recorded in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The gain or loss recorded in accumulated other comprehensive income (loss) remains there until the hedged transaction occurs, at which point the gains or losses are reclassified to operating revenues or purchased gas expense on the Consolidated Statements of Income. Reference is made to Note G - Financial Instruments for further discussion concerning cash flow hedges. | ||||||||||||||||
For fair value hedges, the offset to the asset or liability that is recorded is a gain or loss recorded to operating revenues or purchased gas expense on the Consolidated Statements of Income. However, in the case of fair value hedges, the Company also records an asset or liability on the Consolidated Balance Sheets representing the change in fair value of the asset or firm commitment that is being hedged (see Other Current Assets section in this footnote). The offset to this asset or liability is a gain or loss recorded to operating revenues or purchased gas expense on the Consolidated Statements of Income as well. If the fair value hedge is effective, the gain or loss from the derivative financial instrument is offset by the gain or loss that arises from the change in fair value of the asset or firm commitment that is being hedged. | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||
The components of Accumulated Other Comprehensive Income (Loss) and changes for the year ended September 30, 2014, net of related tax effect, are as follows (amounts in parentheses indicate debits) (in thousands): | ||||||||||||||||
Gains and Losses on Derivative Financial Instruments | Gains and Losses on Securities Available for Sale | Funded Status of the Pension and Other Post-Retirement Benefit Plans | Total | |||||||||||||
Year Ended September 30, 2014 | ||||||||||||||||
Balance at October 1, 2013 | $ | 30,722 | $ | 6,337 | $ | (56,293 | ) | $ | (19,234 | ) | ||||||
Other Comprehensive Gains and Losses Before Reclassifications | 4,805 | 2,465 | (5,560 | ) | 1,710 | |||||||||||
Amounts Reclassified From Other Comprehensive Loss | 8,132 | (420 | ) | 5,833 | 13,545 | |||||||||||
Balance at September 30, 2014 | $ | 43,659 | $ | 8,382 | $ | (56,020 | ) | $ | (3,979 | ) | ||||||
The amounts included in accumulated other comprehensive income (loss) related to the funded status of the Company’s pension and other post-retirement benefit plans consist of prior service costs and accumulated losses. The total amount for prior service credit was $0.2 million and $0.3 million at September 30, 2014 and 2013, respectively. The total amount for accumulated losses was $56.2 million and $56.6 million at September 30, 2014 and 2013, respectively. | ||||||||||||||||
Reclassifications Out Of Accumulated Other Comprehensive Loss | ' | |||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Loss | ||||||||||||||||
The details about the reclassification adjustments out of accumulated other comprehensive loss for the year ended September 30, 2014 are as follows (amounts in parentheses indicate debits to the income statement) (in thousands): | ||||||||||||||||
Details About Accumulated Other | Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss for the | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||||||
Comprehensive Loss Components | Year Ended | |||||||||||||||
30-Sep-14 | ||||||||||||||||
Gains (Losses) on Derivative Financial Instrument Cash Flow Hedges: | ||||||||||||||||
Commodity Contracts | ($14,880 | ) | Operating Revenues | |||||||||||||
Commodity Contracts | (2,767 | ) | Purchased Gas | |||||||||||||
Gains (Losses) on Securities Available for Sale | 662 | Other Income | ||||||||||||||
Amortization of Prior Year Funded Status of the Pension and Other Post-Retirement Benefit Plans: | ||||||||||||||||
Prior Service Credit | 131 | -1 | ||||||||||||||
Net Actuarial Loss | (9,334 | ) | -1 | |||||||||||||
(26,188 | ) | Total Before Income Tax | ||||||||||||||
12,643 | Income Tax Expense | |||||||||||||||
($13,545 | ) | Net of Tax | ||||||||||||||
-1 | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost. Refer to Note H — Retirement Plan and Other Post-Retirement Benefits for additional details. | |||||||||||||||
Gas Stored Underground - Current | ' | |||||||||||||||
Gas Stored Underground — Current | ||||||||||||||||
In the Utility segment, gas stored underground — current in the amount of $25.3 million is carried at lower of cost or market, on a LIFO method. Based upon the average price of spot market gas purchased in September 2014, including transportation costs, the current cost of replacing this inventory of gas stored underground — current exceeded the amount stated on a LIFO basis by approximately $33.2 million at September 30, 2014. All other gas stored underground — current, which is in the Energy Marketing segment, is carried at an average cost method, subject to lower of cost or market adjustments. | ||||||||||||||||
Unamortized Debt Expense | ' | |||||||||||||||
Unamortized Debt Expense | ||||||||||||||||
Costs associated with the issuance of debt by the Company are deferred and amortized over the lives of the related debt. | ||||||||||||||||
Costs associated with the reacquisition of debt related to rate-regulated subsidiaries are deferred and amortized over the remaining life of the issue or the life of the replacement debt in order to match regulatory treatment. At September 30, 2014, the remaining weighted average amortization period for such costs was approximately 5 years. | ||||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
The Company and its subsidiaries file a consolidated federal income tax return. State tax returns are filed on a combined or separate basis depending on the applicable laws in the jurisdictions where tax returns are filed. Investment tax credit, prior to its repeal in 1986, was deferred and is being amortized over the estimated useful lives of the related property, as required by regulatory authorities having jurisdiction. | ||||||||||||||||
The Company reports a liability or a reduction of deferred tax assets for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest relating to uncertain tax positions in Other Interest Expense and penalties in Other Income. | ||||||||||||||||
Consolidated Statements Of Cash Flows | ' | |||||||||||||||
Consolidated Statement of Cash Flows | ||||||||||||||||
For purposes of the Consolidated Statement of Cash Flows, the Company considers all highly liquid debt instruments purchased with a maturity of generally three months or less to be cash equivalents. | ||||||||||||||||
Hedging Collateral Deposits | ' | |||||||||||||||
Hedging Collateral Deposits | ||||||||||||||||
This is an account title for cash held in margin accounts funded by the Company to serve as collateral for hedging positions. In accordance with its accounting policy, the Company does not offset hedging collateral deposits paid or received against related derivative financial instrument liability or asset balances. | ||||||||||||||||
Other Current Assets | ' | |||||||||||||||
Other Current Assets | ||||||||||||||||
The components of the Company’s Other Current Assets are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Prepayments | $ | 10,079 | $ | 10,605 | ||||||||||||
Prepaid Property and Other Taxes | 13,743 | 13,079 | ||||||||||||||
Federal Income Taxes Receivable | 8,211 | 1,122 | ||||||||||||||
State Income Taxes Receivable | — | 3,275 | ||||||||||||||
Fair Values of Firm Commitments | — | 1,829 | ||||||||||||||
Regulatory Assets | 22,719 | 26,995 | ||||||||||||||
$ | 54,752 | $ | 56,905 | |||||||||||||
Other Accruals And Current Liabilities | ' | |||||||||||||||
Other Accruals and Current Liabilities | ||||||||||||||||
The components of the Company’s Other Accruals and Current Liabilities are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Accrued Capital Expenditures | $ | 80,348 | $ | 41,100 | ||||||||||||
Regulatory Liabilities | 18,072 | 20,013 | ||||||||||||||
State Income Taxes Payable | 5,798 | — | ||||||||||||||
Other | 32,454 | 22,833 | ||||||||||||||
$ | 136,672 | $ | 83,946 | |||||||||||||
Customer Advances | ' | |||||||||||||||
Customer Advances | ||||||||||||||||
The Company’s Utility and Energy Marketing segments have balanced billing programs whereby customers pay their estimated annual usage in equal installments over a twelve-month period. Monthly payments under the balanced billing programs are typically higher than current month usage during the summer months. During the winter months, monthly payments under the balanced billing programs are typically lower than current month usage. | ||||||||||||||||
Customer Security Deposits | ' | |||||||||||||||
Customer Security Deposits | ||||||||||||||||
The Company, in its Utility, Pipeline and Storage, and Energy Marketing segments, often times requires security deposits from marketers, producers, pipeline companies, and commercial and industrial customers before providing services to such customers. | ||||||||||||||||
Earnings Per Common Share | ' | |||||||||||||||
Earnings Per Common Share | ||||||||||||||||
Basic earnings per common share is computed by dividing income available for common stock by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For purposes of determining earnings per common share, the only potentially dilutive securities the Company has outstanding are stock options, SARs, restricted stock units and performance shares. The diluted weighted average shares outstanding shown on the Consolidated Statements of Income reflects the potential dilution as a result of these securities as determined using the Treasury Stock Method. Stock options, SARs, restricted stock units and performance shares that are antidilutive are excluded from the calculation of diluted earnings per common share. | ||||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||
Stock-Based Compensation | ||||||||||||||||
The Company has various stock option and stock award plans which provide or provided for the issuance of one or more of the following to key employees: incentive stock options, nonqualified stock options, SARs, restricted stock, restricted stock units, performance units or performance shares. The Company follows authoritative guidance which requires the measurement and recognition of compensation cost at fair value for all share-based payments. Stock options and SARs under all plans have exercise prices equal to the average market price of Company common stock on the date of grant, and generally no stock option or SAR is exercisable less than one year or more than ten years after the date of each grant. The Company has chosen the Black-Scholes-Merton closed form model to calculate the compensation expense associated with stock options and SARs. | ||||||||||||||||
Restricted stock is subject to restrictions on vesting and transferability. Restricted stock awards entitle the participants to full dividend and voting rights. The market value of restricted stock on the date of the award is recorded as compensation expense over the vesting period. Certificates for shares of restricted stock awarded under the Company’s stock option and stock award plans are held by the Company during the periods in which the restrictions on vesting are effective. Restrictions on restricted stock awards generally lapse ratably over a period of not more than ten years after the date of each grant. Restricted stock units also are subject to restrictions on vesting and transferability. Restricted stock units, both performance and non-performance based, represent the right to receive shares of common stock of the Company (or the equivalent value in cash or a combination of cash and shares of common stock of the Company, as determined by the Company) at the end of a specified time period. The performance based and non-performance based restricted stock units do not entitle the participants to dividend and voting rights. The accounting for performance based and non-performance based restricted stock units is the same as the accounting for restricted share awards, except that the fair value at the date of grant of the restricted stock units (represented by the market value of Company common stock on the date of the award) must be reduced by the present value of forgone dividends over the vesting term of the award. The fair value of restricted stock units on the date of award is recorded as compensation expense over the vesting period. | ||||||||||||||||
Performance shares are an award constituting units denominated in common stock of the Company, the number of which may be adjusted over a performance cycle based upon the extent to which performance goals have been satisfied. Earned performance shares may be distributed in the form of shares of common stock of the Company, an equivalent value in cash or a combination of cash and shares of common stock of the Company, as determined by the Company. The performance shares do not entitle the participant to receive dividends during the vesting period. For performance shares based on a return on capital goal, the fair value at the date of grant of the performance shares is determined by multiplying the expected number of performance shares to be issued by the market value of Company common stock on the date of grant reduced by the present value of forgone dividends. For performance shares based on a total shareholder return goal, the Company uses the Monte Carlo simulation technique to estimate the fair value price at the date of grant. | ||||||||||||||||
New Authoritative Accounting And Financial Reporting Guidance | ' | |||||||||||||||
New Authoritative Accounting and Financial Reporting Guidance | ||||||||||||||||
In May 2014, the FASB issued authoritative guidance regarding revenue recognition. The authoritative guidance provides a single, comprehensive revenue recognition model for all contracts with customers to improve comparability. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. This authoritative guidance will be effective as of the Company's first quarter of fiscal 2018 and early adoption is not permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements and disclosures. | ||||||||||||||||
In June 2014, the FASB issued authoritative guidance regarding accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the employee has completed the requisite service period. This authoritative guidance requires that such performance targets that affect vesting be treated as performance conditions, meaning that the performance target should not be factored in the calculation of the award at the grant date. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. This authoritative guidance will be effective as of the Company's first quarter of fiscal 2017, with early adoption permitted. The Company is currently evaluating the impact that adoption of this guidance will have on its consolidated financial statements. |
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Schedule Of Depreciable Plant By Segment | ' | |||||||||||||||
The following is a summary of depreciable plant by segment: | ||||||||||||||||
As of September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Exploration and Production | $ | 3,996,834 | $ | 3,437,767 | ||||||||||||
Pipeline and Storage | 1,609,593 | 1,547,192 | ||||||||||||||
Gathering | 239,507 | 130,082 | ||||||||||||||
Utility | 1,833,104 | 1,778,140 | ||||||||||||||
Energy Marketing | 3,366 | 3,460 | ||||||||||||||
All Other and Corporate | 108,986 | 109,690 | ||||||||||||||
$ | 7,791,390 | $ | 7,006,331 | |||||||||||||
Average Depreciation Depletion And Amortization Rates | ' | |||||||||||||||
Average depreciation, depletion and amortization rates are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Exploration and Production, per Mcfe(1) | $ | 1.85 | $ | 2.02 | $ | 2.25 | ||||||||||
Pipeline and Storage | 2.4 | % | 2.5 | % | 2.9 | % | ||||||||||
Gathering | 3.3 | % | 3.7 | % | 3.3 | % | ||||||||||
Utility | 2.6 | % | 2.6 | % | 2.6 | % | ||||||||||
Energy Marketing | 5.8 | % | 3.9 | % | 3.6 | % | ||||||||||
All Other and Corporate | 0.9 | % | 1.3 | % | 1.1 | % | ||||||||||
-1 | Amounts include depletion of oil and gas producing properties as well as depreciation of fixed assets. As disclosed in Note M — Supplementary Information for Oil and Gas Producing Properties, depletion of oil and gas producing properties amounted to $1.82, $1.98 and $2.19 per Mcfe of production in 2014, 2013 and 2012, respectively. | |||||||||||||||
Components Of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||
The components of Accumulated Other Comprehensive Income (Loss) and changes for the year ended September 30, 2014, net of related tax effect, are as follows (amounts in parentheses indicate debits) (in thousands): | ||||||||||||||||
Gains and Losses on Derivative Financial Instruments | Gains and Losses on Securities Available for Sale | Funded Status of the Pension and Other Post-Retirement Benefit Plans | Total | |||||||||||||
Year Ended September 30, 2014 | ||||||||||||||||
Balance at October 1, 2013 | $ | 30,722 | $ | 6,337 | $ | (56,293 | ) | $ | (19,234 | ) | ||||||
Other Comprehensive Gains and Losses Before Reclassifications | 4,805 | 2,465 | (5,560 | ) | 1,710 | |||||||||||
Amounts Reclassified From Other Comprehensive Loss | 8,132 | (420 | ) | 5,833 | 13,545 | |||||||||||
Balance at September 30, 2014 | $ | 43,659 | $ | 8,382 | $ | (56,020 | ) | $ | (3,979 | ) | ||||||
Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Loss | ' | |||||||||||||||
The details about the reclassification adjustments out of accumulated other comprehensive loss for the year ended September 30, 2014 are as follows (amounts in parentheses indicate debits to the income statement) (in thousands): | ||||||||||||||||
Details About Accumulated Other | Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss for the | Affected Line Item in the Statement Where Net Income is Presented | ||||||||||||||
Comprehensive Loss Components | Year Ended | |||||||||||||||
30-Sep-14 | ||||||||||||||||
Gains (Losses) on Derivative Financial Instrument Cash Flow Hedges: | ||||||||||||||||
Commodity Contracts | ($14,880 | ) | Operating Revenues | |||||||||||||
Commodity Contracts | (2,767 | ) | Purchased Gas | |||||||||||||
Gains (Losses) on Securities Available for Sale | 662 | Other Income | ||||||||||||||
Amortization of Prior Year Funded Status of the Pension and Other Post-Retirement Benefit Plans: | ||||||||||||||||
Prior Service Credit | 131 | -1 | ||||||||||||||
Net Actuarial Loss | (9,334 | ) | -1 | |||||||||||||
(26,188 | ) | Total Before Income Tax | ||||||||||||||
12,643 | Income Tax Expense | |||||||||||||||
($13,545 | ) | Net of Tax | ||||||||||||||
-1 | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost. Refer to Note H — Retirement Plan and Other Post-Retirement Benefits for additional details. | |||||||||||||||
Schedule Of Other Current Assets | ' | |||||||||||||||
The components of the Company’s Other Current Assets are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Prepayments | $ | 10,079 | $ | 10,605 | ||||||||||||
Prepaid Property and Other Taxes | 13,743 | 13,079 | ||||||||||||||
Federal Income Taxes Receivable | 8,211 | 1,122 | ||||||||||||||
State Income Taxes Receivable | — | 3,275 | ||||||||||||||
Fair Values of Firm Commitments | — | 1,829 | ||||||||||||||
Regulatory Assets | 22,719 | 26,995 | ||||||||||||||
$ | 54,752 | $ | 56,905 | |||||||||||||
Schedule of Other Accruals And Current Liabilities | ' | |||||||||||||||
The components of the Company’s Other Accruals and Current Liabilities are as follows: | ||||||||||||||||
Year Ended September 30 | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(Thousands) | ||||||||||||||||
Accrued Capital Expenditures | $ | 80,348 | $ | 41,100 | ||||||||||||
Regulatory Liabilities | 18,072 | 20,013 | ||||||||||||||
State Income Taxes Payable | 5,798 | — | ||||||||||||||
Other | 32,454 | 22,833 | ||||||||||||||
$ | 136,672 | $ | 83,946 | |||||||||||||
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||||||
Schedule Of Change In Asset Retirement Obligation | ' | |||||||||||
A reconciliation of the Company’s asset retirement obligations are shown below: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
Balance at Beginning of Year | $ | 119,511 | $ | 119,246 | $ | 75,731 | ||||||
Liabilities Incurred and Revisions of Estimates | (2,496 | ) | (4,796 | ) | 41,653 | |||||||
Liabilities Settled | (6,955 | ) | (1,744 | ) | (2,997 | ) | ||||||
Accretion Expense | 7,653 | 6,805 | 4,859 | |||||||||
Balance at End of Year | $ | 117,713 | $ | 119,511 | $ | 119,246 | ||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Regulatory Assets and Liabilities, Other Disclosures [Abstract] | ' | |||||||
Schedule Of Regulatory Assets And Liabilities | ' | |||||||
The Company has recorded the following regulatory assets and liabilities: | ||||||||
At September 30 | ||||||||
2014 | 2013 | |||||||
(Thousands) | ||||||||
Regulatory Assets(1): | ||||||||
Pension Costs(2) (Note H) | $ | 164,804 | $ | 187,181 | ||||
Post-Retirement Benefit Costs(2) (Note H) | 17,128 | 29,838 | ||||||
Recoverable Future Taxes (Note D) | 163,485 | 163,355 | ||||||
Environmental Site Remediation Costs(2) (Note I) | 25,645 | 18,104 | ||||||
NYPSC Assessment(3) | 12,730 | 13,169 | ||||||
Asset Retirement Obligations(2) (Note B) | 12,006 | 11,837 | ||||||
Unamortized Debt Expense (Note A) | 2,747 | 3,276 | ||||||
Other(4) | 14,842 | 19,434 | ||||||
Total Regulatory Assets | 413,387 | 446,194 | ||||||
Less: Amounts Included in Other Current Assets | (22,719 | ) | (26,995 | ) | ||||
Total Long-Term Regulatory Assets | $ | 390,668 | $ | 419,199 | ||||
At September 30 | ||||||||
2014 | 2013 | |||||||
(Thousands) | ||||||||
Regulatory Liabilities: | ||||||||
Cost of Removal Regulatory Liability | $ | 173,199 | $ | 157,622 | ||||
Taxes Refundable to Customers (Note D) | 91,736 | 85,655 | ||||||
Post-Retirement Benefit Costs (Note H) | 53,650 | 37,923 | ||||||
Amounts Payable to Customers (See Regulatory Mechanisms in Note A) | 33,745 | 12,828 | ||||||
Off-System Sales and Capacity Release Credits(5) | 12,805 | 10,228 | ||||||
Other(6) | 32,769 | 33,411 | ||||||
Total Regulatory Liabilities | 397,904 | 337,667 | ||||||
Less: Amounts included in Current and Accrued Liabilities | (51,817 | ) | (32,841 | ) | ||||
Total Long-Term Regulatory Liabilities | $ | 346,087 | $ | 304,826 | ||||
-1 | The Company recovers the cost of its regulatory assets but generally does not earn a return on them. There are a few exceptions to this rule. For example, the Company does earn a return on Unrecovered Purchased Gas Costs and, in the New York jurisdiction of its Utility segment, earns a return, within certain parameters, on the excess of cumulative funding to the pension plan over the cumulative amount collected in rates. | |||||||
-2 | Included in Other Regulatory Assets on the Consolidated Balance Sheets. | |||||||
-3 | Amounts are included in Other Current Assets on the Consolidated Balance Sheets at September 30, 2014 and September 30, 2013 since such amounts are expected to be recovered from ratepayers in the next 12 months. | |||||||
-4 | $9,989 and $13,826 are included in Other Current Assets on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively, since such amounts are expected to be recovered from ratepayers in the next 12 months. $4,853 and $5,608 are included in Other Regulatory Assets on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively. | |||||||
-5 | Amounts are included in Other Accruals and Current Liabilities on the Consolidated Balance Sheets at September 30, 2014 and September 30, 2013 since such amounts are expected to be passed back to ratepayers in the next 12 months. | |||||||
-6 | $5,267 and $9,785 are included in Other Accruals and Current Liabilities on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively, since such amounts are expected to be recovered from ratepayers in the next 12 months. $27,502 and $23,626 are included in Other Regulatory Liabilities on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components Of Federal And State Income Taxes Included In The Consolidated Statements Of Income | ' | |||||||||||
The components of federal and state income taxes included in the Consolidated Statements of Income are as follows: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
Current Income Taxes — | ||||||||||||
Federal | $ | 34,579 | $ | (632 | ) | $ | (8 | ) | ||||
State | 12,620 | 5,503 | 6,412 | |||||||||
Deferred Income Taxes — | ||||||||||||
Federal | 116,143 | 130,318 | 111,176 | |||||||||
State | 26,272 | 37,569 | 32,974 | |||||||||
189,614 | 172,758 | 150,554 | ||||||||||
Deferred Investment Tax Credit | (434 | ) | (426 | ) | (581 | ) | ||||||
Total Income Taxes | $ | 189,180 | $ | 172,332 | $ | 149,973 | ||||||
Presented as Follows: | ||||||||||||
Other Income | $ | (434 | ) | $ | (426 | ) | $ | (581 | ) | |||
Income Tax Expense | 189,614 | 172,758 | 150,554 | |||||||||
Total Income Taxes | $ | 189,180 | $ | 172,332 | $ | 149,973 | ||||||
Schedule Of Income Tax Reconciliation By Applying Federal Income Tax Rate | ' | |||||||||||
The following is a reconciliation of this difference: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
U.S. Income Before Income Taxes | $ | 488,593 | $ | 432,333 | $ | 370,050 | ||||||
Income Tax Expense, Computed at U.S. Federal Statutory Rate of 35% | $ | 171,008 | $ | 151,317 | $ | 129,518 | ||||||
Increase (Reduction) in Taxes Resulting from: | ||||||||||||
State Income Taxes | 25,280 | 27,997 | 25,601 | |||||||||
Miscellaneous | (7,108 | ) | (6,982 | ) | (5,146 | ) | ||||||
Total Income Taxes | $ | 189,180 | $ | 172,332 | $ | 149,973 | ||||||
Significant Components Of Deferred Tax Liabilities And Assets | ' | |||||||||||
Significant components of the Company’s deferred tax liabilities and assets were as follows: | ||||||||||||
At September 30 | ||||||||||||
2014 | 2013 | |||||||||||
(Thousands) | ||||||||||||
Deferred Tax Liabilities: | ||||||||||||
Property, Plant and Equipment | $ | 1,614,515 | $ | 1,504,187 | ||||||||
Pension and Other Post-Retirement Benefit Costs | 113,248 | 124,021 | ||||||||||
Other | 87,935 | 75,419 | ||||||||||
Total Deferred Tax Liabilities | 1,815,698 | 1,703,627 | ||||||||||
Deferred Tax Assets: | ||||||||||||
Pension and Other Post-Retirement Benefit Costs | (124,452 | ) | (130,256 | ) | ||||||||
Tax Loss and Credit Carryforwards | (171,423 | ) | (215,262 | ) | ||||||||
Other | (103,863 | ) | (90,461 | ) | ||||||||
Total Deferred Tax Assets | (399,738 | ) | (435,979 | ) | ||||||||
Total Net Deferred Income Taxes | $ | 1,415,960 | $ | 1,267,648 | ||||||||
Presented as Follows: | ||||||||||||
Deferred Tax Liability/(Asset) — Current | $ | (40,323 | ) | $ | (79,359 | ) | ||||||
Deferred Tax Liability — Non-Current | 1,456,283 | 1,347,007 | ||||||||||
Total Net Deferred Income Taxes | $ | 1,415,960 | $ | 1,267,648 | ||||||||
Reconciliation Of The Change In Unrecognized Tax Benefits | ' | |||||||||||
The following is a reconciliation of the change in unrecognized tax benefits: | ||||||||||||
Year Ended September 30 | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(Thousands) | ||||||||||||
Balance at Beginning of Year | $ | 2,001 | $ | 11,170 | $ | 7,766 | ||||||
Additions for Tax Positions Related to Current Year | — | 700 | 1,600 | |||||||||
Additions for Tax Positions of Prior Years | 2,447 | 164 | 2,751 | |||||||||
Reductions for Tax Positions of Prior Years | (1,301 | ) | (10,033 | ) | (947 | ) | ||||||
Balance at End of Year | $ | 3,147 | $ | 2,001 | $ | 11,170 | ||||||
Capitalization_And_ShortTerm_B1
Capitalization And Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||||||
Summary Of Changes In Common Stock Equity | ' | ||||||||||||||||||
Summary of Changes in Common Stock Equity | |||||||||||||||||||
Paid In | Earnings | Accumulated | |||||||||||||||||
Common Stock | Capital | Reinvested | Other | ||||||||||||||||
in the | Comprehensive | ||||||||||||||||||
Business | Income | ||||||||||||||||||
Shares | Amount | (Loss) | |||||||||||||||||
(Thousands, except per share amounts) | |||||||||||||||||||
Balance at September 30, 2011 | 82,813 | $ | 82,813 | $ | 650,749 | $ | 1,206,022 | $ | (47,699 | ) | |||||||||
Net Income Available for Common Stock | 220,077 | ||||||||||||||||||
Dividends Declared on Common Stock ($1.44 Per Share) | (119,815 | ) | |||||||||||||||||
Other Comprehensive Loss, Net of Tax | (51,321 | ) | |||||||||||||||||
Share-Based Payment Expense(2) | 7,156 | ||||||||||||||||||
Common Stock Issued Under Stock and Benefit Plans(1) | 517 | 517 | 11,596 | ||||||||||||||||
Balance at September 30, 2012 | 83,330 | 83,330 | 669,501 | 1,306,284 | (99,020 | ) | |||||||||||||
Net Income Available for Common Stock | 260,001 | ||||||||||||||||||
Dividends Declared on Common Stock ($1.48 Per Share) | (123,668 | ) | |||||||||||||||||
Other Comprehensive Income, Net of Tax | 79,786 | ||||||||||||||||||
Share-Based Payment Expense(2) | 11,537 | ||||||||||||||||||
Common Stock Issued Under Stock and Benefit Plans(1) | 332 | 332 | 6,646 | ||||||||||||||||
Balance at September 30, 2013 | 83,662 | 83,662 | 687,684 | 1,442,617 | (19,234 | ) | |||||||||||||
Net Income Available for Common Stock | 299,413 | ||||||||||||||||||
Dividends Declared on Common Stock ($1.52 Per Share) | (127,669 | ) | |||||||||||||||||
Other Comprehensive Income, Net of Tax | 15,255 | ||||||||||||||||||
Share-Based Payment Expense(2) | 10,654 | ||||||||||||||||||
Common Stock Issued Under Stock and Benefit Plans(1) | 495 | 495 | 17,806 | ||||||||||||||||
Balance at September 30, 2014 | 84,157 | $ | 84,157 | $ | 716,144 | $ | 1,614,361 | -3 | $ | (3,979 | ) | ||||||||
-1 | Paid in Capital includes tax benefits of $4.6 million, $0.7 million and $1.0 million for September 30, 2014, 2013 and 2012, respectively, related to stock-based compensation. | ||||||||||||||||||
-2 | Paid in Capital includes compensation costs associated with stock option, SARs, performance share and/or restricted stock awards. The expense is included within Net Income Available For Common Stock, net of tax benefits. | ||||||||||||||||||
-3 | The availability of consolidated earnings reinvested in the business for dividends payable in cash is limited under terms of the indentures covering long-term debt. At September 30, 2014, $1.5 billion of accumulated earnings was free of such limitations. | ||||||||||||||||||
Schedule Of Share-Based Compensation For Stock Options | ' | ||||||||||||||||||
Transactions involving option shares for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||
Shares Subject | Average | Average | Intrinsic | ||||||||||||||||
to Option | Exercise Price | Remaining | Value | ||||||||||||||||
Contractual | |||||||||||||||||||
Life (Years) | |||||||||||||||||||
(In thousands) | |||||||||||||||||||
Outstanding at September 30, 2013 | 803,500 | $ | 34.71 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Exercised in 2014 | (321,500 | ) | $ | 31.71 | |||||||||||||||
Forfeited in 2014 | — | $ | — | ||||||||||||||||
Outstanding at September 30, 2014 | 482,000 | $ | 36.71 | 1.8 | $ | 16,039 | |||||||||||||
Option shares exercisable at September 30, 2014 | 482,000 | $ | 36.71 | 1.8 | $ | 16,039 | |||||||||||||
Option shares available for future grant at September 30, 2014(1) | 712,232 | ||||||||||||||||||
-1 | Includes shares available for SARs, restricted stock and performance share grants. | ||||||||||||||||||
Schedule Of Share-Based Compensation For SARs | ' | ||||||||||||||||||
Transactions involving SARs for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||||
Shares Subject | Average | Average | Intrinsic | ||||||||||||||||
To Option | Exercise Price | Remaining | Value | ||||||||||||||||
Contractual | |||||||||||||||||||
Life (Years) | |||||||||||||||||||
(In thousands) | |||||||||||||||||||
Outstanding at September 30, 2013 | 2,002,704 | $ | 46.73 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Exercised in 2014 | (209,222 | ) | $ | 34.9 | |||||||||||||||
Forfeited in 2014 | — | $ | — | ||||||||||||||||
Canceled in 2014 | — | $ | — | ||||||||||||||||
Outstanding at September 30, 2014 | 1,793,482 | $ | 48.11 | 5.93 | $ | 39,246 | |||||||||||||
SARs exercisable at September 30, 2014 | 1,434,023 | $ | 46.65 | 5.45 | $ | 33,466 | |||||||||||||
Schedule Of Share-Based Compensation For Restricted Share Awards | ' | ||||||||||||||||||
Transactions involving restricted share awards for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted Average | ||||||||||||||||||
Restricted | Fair Value per | ||||||||||||||||||
Share Awards | Award | ||||||||||||||||||
Outstanding at September 30, 2013 | 127,453 | $ | 51.69 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Vested in 2014 | (34,601 | ) | $ | 58.17 | |||||||||||||||
Forfeited in 2014 | (3,334 | ) | $ | 55.09 | |||||||||||||||
Outstanding at September 30, 2014 | 89,518 | $ | 49.05 | ||||||||||||||||
Schedule Of Share-Based Compensation For Non-Performance Based Restricted Stock Units | ' | ||||||||||||||||||
Transactions involving non-performance based restricted stock units for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted Average | ||||||||||||||||||
Restricted | Fair Value per | ||||||||||||||||||
Stock Units | Award | ||||||||||||||||||
Outstanding at September 30, 2013 | 143,500 | $ | 51.53 | ||||||||||||||||
Granted in 2014 | 82,151 | $ | 65.24 | ||||||||||||||||
Vested in 2014 | (12,432 | ) | $ | 60.54 | |||||||||||||||
Forfeited in 2014 | (8,700 | ) | $ | 54.53 | |||||||||||||||
Outstanding at September 30, 2014 | 204,519 | $ | 56.36 | ||||||||||||||||
Schedule Of Share-Based Compensation For Performance Based Restricted Stock Units | ' | ||||||||||||||||||
Transactions involving performance based restricted stock units for all plans are summarized as follows: | |||||||||||||||||||
Number of Performance Based | Weighted Average | ||||||||||||||||||
Restricted Stock Units | Fair Value per | ||||||||||||||||||
Award | |||||||||||||||||||
Outstanding at September 30, 2013 | 255,604 | $ | 49.51 | ||||||||||||||||
Granted in 2014 | — | $ | — | ||||||||||||||||
Vested in 2014 | — | $ | — | ||||||||||||||||
Forfeited in 2014 | (21,728 | ) | $ | 48.49 | |||||||||||||||
Outstanding at September 30, 2014 | 233,876 | $ | 49.61 | ||||||||||||||||
Schedule of Share-based Compensation for Performance Shares | ' | ||||||||||||||||||
Transactions involving performance shares for all plans are summarized as follows: | |||||||||||||||||||
Number of | Weighted Average | ||||||||||||||||||
Performance | Fair Value per | ||||||||||||||||||
Shares | Award | ||||||||||||||||||
Outstanding at September 30, 2013 | — | $ | — | ||||||||||||||||
Granted in 2014 | 116,090 | $ | 67.16 | ||||||||||||||||
Vested in 2014 | — | $ | — | ||||||||||||||||
Forfeited in 2014 | (17,624 | ) | $ | 67.16 | |||||||||||||||
Outstanding at September 30, 2014 | 98,466 | $ | 67.16 | ||||||||||||||||
Schedule Of Long-Term Debt | ' | ||||||||||||||||||
The outstanding long-term debt is as follows: | |||||||||||||||||||
At September 30 | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
(Thousands) | |||||||||||||||||||
Medium-Term Notes(1): | |||||||||||||||||||
7.4% due March 2023 to June 2025 | $ | 99,000 | $ | 99,000 | |||||||||||||||
Notes(1)(3): | |||||||||||||||||||
3.75% to 8.75% due April 2018 to March 2023 | 1,550,000 | 1,550,000 | |||||||||||||||||
Total Long-Term Debt | 1,649,000 | 1,649,000 | |||||||||||||||||
Less Current Portion(2) | — | — | |||||||||||||||||
$ | 1,649,000 | $ | 1,649,000 | ||||||||||||||||
-1 | The Medium-Term Notes and Notes are unsecured. | ||||||||||||||||||
-2 | None of the Company’s long-term debt at September 30, 2014 and 2013 will mature within the following twelve-month period. | ||||||||||||||||||
-3 | The holders of these notes may require the Company to repurchase their notes at a price equal to 101% of the principal amount in the event of both a change in control and a ratings downgrade to a rating below investment grade. | ||||||||||||||||||
Performance Shares [Member] | ' | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||||||
Schedule of Weighted Average Assumptions Used in Estimating Fair Value | ' | ||||||||||||||||||
The following assumptions were used in estimating the fair value of the TSR performance shares at the date of grant: | |||||||||||||||||||
Year Ended September 30 | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Risk-Free Interest Rate | 0.62 | % | N/A | N/A | |||||||||||||||
Remaining Term at Date of Grant (Years) | 2.78 | N/A | N/A | ||||||||||||||||
Expected Volatility | 28.3 | % | N/A | N/A | |||||||||||||||
Expected Dividend Yield (Quarterly) | N/A | N/A | N/A | ||||||||||||||||
Stock Appreciation Rights (SARs) [Member] | ' | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ||||||||||||||||||
Schedule of Weighted Average Assumptions Used in Estimating Fair Value | ' | ||||||||||||||||||
The following weighted average assumptions were used in estimating the fair value of SARs at the date of grant: | |||||||||||||||||||
Year Ended September 30 | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Risk-Free Interest Rate | N/A | 1.55 | % | 1.59 | % | ||||||||||||||
Expected Life (Years) | N/A | 8.25 | 8.25 | ||||||||||||||||
Expected Volatility | N/A | 25.61 | % | 24.97 | % | ||||||||||||||
Expected Dividend Yield (Quarterly) | N/A | 0.69 | % | 0.64 | % |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||||||
The following table sets forth, by level within the fair value hierarchy, the Company’s financial assets and liabilities (as applicable) that were accounted for at fair value on a recurring basis as of September 30, 2014 and 2013. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The fair value presentation for over the counter swaps has been changed to combine gas and oil swaps at both September 30, 2014 and September 30, 2013. In the September 30, 2013 Form 10-K, gas swaps were reported separately from oil swaps. This change in presentation was made because a significant number of the counterparties enter into both gas and oil swap agreements with the Company. | ||||||||||||||||||||
At Fair Value as of September 30, 2014 | ||||||||||||||||||||
Recurring Fair Value Measures | Level 1 | Level 2 | Level 3 | Netting | Total(1) | |||||||||||||||
Adjustments(1) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Cash Equivalents — Money Market Mutual Funds | $ | 23,794 | $ | — | $ | — | $ | — | $ | 23,794 | ||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | 2,725 | — | — | (1,987 | ) | 738 | ||||||||||||||
Over the Counter Swaps — Gas and Oil | — | 75,951 | 1,368 | (5,451 | ) | 71,868 | ||||||||||||||
Other Investments: | ||||||||||||||||||||
Balanced Equity Mutual Fund | 35,331 | — | — | — | 35,331 | |||||||||||||||
Common Stock — Financial Services Industry | 6,629 | — | — | — | 6,629 | |||||||||||||||
Other Common Stock | 455 | — | — | — | 455 | |||||||||||||||
Hedging Collateral Deposits | 2,734 | — | — | — | 2,734 | |||||||||||||||
Total | $ | 71,668 | $ | 75,951 | $ | 1,368 | $ | (7,438 | ) | $ | 141,549 | |||||||||
Liabilities: | ||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | $ | 2,674 | $ | — | $ | — | $ | (1,987 | ) | $ | 687 | |||||||||
Over the Counter Swaps — Gas and Oil | — | 5,523 | — | (5,451 | ) | 72 | ||||||||||||||
Total | $ | 2,674 | $ | 5,523 | $ | — | $ | (7,438 | ) | $ | 759 | |||||||||
Total Net Assets/(Liabilities) | $ | 68,994 | $ | 70,428 | $ | 1,368 | $ | — | $ | 140,790 | ||||||||||
At Fair Value as of September 30, 2013 | ||||||||||||||||||||
Recurring Fair Value Measures | Level 1 | Level 2 | Level 3 | Netting | Total(1) | |||||||||||||||
Adjustments(1) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Cash Equivalents — Money Market Mutual Funds | $ | 51,332 | $ | — | $ | — | $ | — | $ | 51,332 | ||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | 2,552 | — | — | (1,641 | ) | 911 | ||||||||||||||
Over the Counter Swaps — Gas and Oil | — | 57,070 | — | (9,003 | ) | 48,067 | ||||||||||||||
Other Investments: | ||||||||||||||||||||
Balanced Equity Mutual Fund | 31,813 | — | — | — | 31,813 | |||||||||||||||
Common Stock — Financial Services Industry | 6,544 | — | — | — | 6,544 | |||||||||||||||
Other Common Stock | 330 | — | — | — | 330 | |||||||||||||||
Hedging Collateral Deposits | 1,094 | — | — | — | 1,094 | |||||||||||||||
Total | $ | 93,665 | $ | 57,070 | $ | — | $ | (10,644 | ) | $ | 140,091 | |||||||||
Liabilities: | ||||||||||||||||||||
Derivative Financial Instruments: | ||||||||||||||||||||
Commodity Futures Contracts — Gas | $ | 1,641 | $ | — | $ | — | $ | (1,641 | ) | $ | — | |||||||||
Over the Counter Swaps — Gas and Oil | — | 4,452 | 5,190 | (9,003 | ) | 639 | ||||||||||||||
Total | $ | 1,641 | $ | 4,452 | $ | 5,190 | $ | (10,644 | ) | $ | 639 | |||||||||
Total Net Assets/(Liabilities) | $ | 92,024 | $ | 52,618 | $ | (5,190 | ) | $ | — | $ | 139,452 | |||||||||
-1 | Netting Adjustments represent the impact of legally-enforceable master netting arrangements that allow the Company to net gain and loss positions held with the same counterparties. The net asset or net liability for each counterparty is recorded as an asset or liability on the Company’s balance sheet. | |||||||||||||||||||
Fair Value Measurements Using Unobservable Inputs (Level 3) | ' | |||||||||||||||||||
All settlements of the derivative financial instruments are reflected in the Gains/Losses Realized and Included in Earnings column of the tables below (amounts in parentheses indicate credits in the derivative asset/liability accounts). | ||||||||||||||||||||
Fair Value Measurements Using Unobservable Inputs (Level 3) | ||||||||||||||||||||
Total Gains/Losses | ||||||||||||||||||||
October 1, | (Gains)/Losses | Gains/(Losses) | Transfer | September 30, | ||||||||||||||||
2013 | Realized and | Unrealized and | In/(Out) of | 2014 | ||||||||||||||||
Included in | Included in Other | Level 3 | ||||||||||||||||||
Earnings | Comprehensive | |||||||||||||||||||
Income (Loss) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Derivative Financial Instruments(2) | $ | (5,190 | ) | $ | 2,217 | -1 | $ | 4,341 | $ | — | $ | 1,368 | ||||||||
-1 | Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the year ended September 30, 2014. | |||||||||||||||||||
-2 | Derivative Financial Instruments are shown on a net basis. | |||||||||||||||||||
Total Gains/Losses | ||||||||||||||||||||
October 1, | (Gains)/Losses | Gains/(Losses) | Transfer | September 30, | ||||||||||||||||
2012 | Realized and | Unrealized and | In/(Out) of | 2013 | ||||||||||||||||
Included in | Included in Other | Level 3 | ||||||||||||||||||
Earnings | Comprehensive | |||||||||||||||||||
Income (Loss) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Derivative Financial Instruments(2) | $ | (19,664 | ) | $ | 13,408 | -1 | $ | 1,066 | $ | — | $ | (5,190 | ) | |||||||
-1 | Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the year ended September 30, 2013. | |||||||||||||||||||
-2 | Derivative Financial Instruments are shown on a net basis. |
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Financial Instruments, Owned, at Fair Value [Abstract] | ' | ||||||||||||||||||||||||||||
Long-Term Debt | ' | ||||||||||||||||||||||||||||
Based on these criteria, the fair market value of long-term debt, including current portion, was as follows: | |||||||||||||||||||||||||||||
At September 30 | |||||||||||||||||||||||||||||
2014 Carrying | 2014 Fair | 2013 Carrying | 2013 Fair | ||||||||||||||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||||||||||||||
(Thousands) | |||||||||||||||||||||||||||||
Long-Term Debt | $ | 1,649,000 | $ | 1,775,715 | $ | 1,649,000 | $ | 1,767,519 | |||||||||||||||||||||
Schedule Of Derivatives Financial Instruments Designated And Qualifying As Cash Flow Hedges On The Statements Of Financial Performance | ' | ||||||||||||||||||||||||||||
The Effect of Derivative Financial Instruments on the Statement of Financial Performance for the | |||||||||||||||||||||||||||||
Year Ended September 30, 2014 and 2013 (Dollar Amounts in Thousands) | |||||||||||||||||||||||||||||
Derivatives in Cash | Amount of | Location of | Amount of | Location of | Derivative Gain or (Loss) Recognized in the Consolidated Statement of Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) for the Year Ended September 30, | ||||||||||||||||||||||||
Flow Hedging | Derivative Gain or | Derivative Gain or (Loss) Reclassified | Derivative Gain or | Derivative Gain or (Loss) Recognized | |||||||||||||||||||||||||
Relationships | (Loss) Recognized | from Accumulated | (Loss) Reclassified | in the Consolidated | |||||||||||||||||||||||||
in Other | Other Comprehensive | from Accumulated | Statement of Income | ||||||||||||||||||||||||||
Comprehensive | Income (Loss) on | Other | (Ineffective Portion | ||||||||||||||||||||||||||
Income (Loss) on | the Consolidated | Comprehensive | and Amount | ||||||||||||||||||||||||||
the Consolidated | Balance Sheet into | Income (Loss) on | Excluded from | ||||||||||||||||||||||||||
Statement of | the Consolidated | the Consolidated | Effectiveness Testing) | ||||||||||||||||||||||||||
Comprehensive | Statement of Income | Balance Sheet into | |||||||||||||||||||||||||||
Income (Loss) | (Effective Portion) | the Consolidated | |||||||||||||||||||||||||||
(Effective Portion) | Statement of Income | ||||||||||||||||||||||||||||
for the Year Ended | (Effective Portion) | ||||||||||||||||||||||||||||
September 30, | for the Year Ended | ||||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Commodity Contracts | $ | 9,763 | $ | 87,813 | Operating Revenue | $ | (14,880 | ) | $ | 36,949 | Operating Revenue | $ | 624 | $ | (2,045 | ) | |||||||||||||
Commodity Contracts | $ | (4,429 | ) | $ | 3,977 | Purchased Gas | $ | (2,767 | ) | $ | (920 | ) | Not Applicable | $ | — | $ | — | ||||||||||||
Total | $ | 5,334 | $ | 91,790 | $ | (17,647 | ) | $ | 36,029 | $ | 624 | $ | (2,045 | ) | |||||||||||||||
Schedule Of Derivatives And Hedged Items In Fair Value Hedging Relationships | ' | ||||||||||||||||||||||||||||
For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting gain or loss on the hedged item attributable to the hedged risk completely offset each other in current earnings, as shown below. | |||||||||||||||||||||||||||||
Derivatives in Fair Value Hedging Relationships | Location of Gain or (Loss) on Derivative and Hedged Item Recognized in the Consolidated Statement of Income | Amount of Gain or | Amount of Gain or | ||||||||||||||||||||||||||
(Loss) on Derivative | (Loss) on Hedged Item | ||||||||||||||||||||||||||||
Recognized in the | Recognized in the | ||||||||||||||||||||||||||||
Consolidated | Consolidated | ||||||||||||||||||||||||||||
Statement of Income | Statement of Income | ||||||||||||||||||||||||||||
for the Year Ended | for the Year Ended | ||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2014 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commodity Contracts | Operating Revenues | $ | 696 | $ | (696 | ) | |||||||||||||||||||||||
Commodity Contracts | Purchased Gas | (574 | ) | 574 | |||||||||||||||||||||||||
$ | 122 | $ | (122 | ) | |||||||||||||||||||||||||
Retirement_Plan_And_Other_Post1
Retirement Plan And Other Post-Retirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||||||||||
Schedule Of Benefit Obligations, Plan Assets And Funded Status | ' | |||||||||||||||||||||||
Retirement Plan | Other Post-Retirement Benefits | |||||||||||||||||||||||
Year Ended September 30 | Year Ended September 30 | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Change in Benefit Obligation | ||||||||||||||||||||||||
Benefit Obligation at Beginning of Period | $ | 946,305 | $ | 1,070,744 | $ | 949,777 | $ | 460,634 | $ | 561,263 | $ | 485,452 | ||||||||||||
Service Cost | 11,987 | 15,846 | 14,202 | 2,939 | 4,705 | 4,016 | ||||||||||||||||||
Interest Cost | 43,574 | 36,498 | 41,526 | 21,308 | 19,212 | 21,315 | ||||||||||||||||||
Plan Participants’ Contributions | — | — | — | 2,265 | 2,141 | 1,956 | ||||||||||||||||||
Retiree Drug Subsidy Receipts | — | — | — | 1,419 | 1,526 | 1,528 | ||||||||||||||||||
Actuarial (Gain) Loss | 53,887 | (121,631 | ) | 120,338 | 1,087 | (104,455 | ) | 71,708 | ||||||||||||||||
Benefits Paid | (56,254 | ) | (55,152 | ) | (55,099 | ) | (24,069 | ) | (23,758 | ) | (24,712 | ) | ||||||||||||
Benefit Obligation at End of Period | $ | 999,499 | $ | 946,305 | $ | 1,070,744 | $ | 465,583 | $ | 460,634 | $ | 561,263 | ||||||||||||
Change in Plan Assets | ||||||||||||||||||||||||
Fair Value of Assets at Beginning of Period | $ | 799,307 | $ | 701,676 | $ | 601,719 | $ | 472,392 | $ | 414,134 | $ | 351,990 | ||||||||||||
Actual Return on Plan Assets | 93,238 | 98,783 | 111,034 | 44,898 | 61,715 | 63,552 | ||||||||||||||||||
Employer Contributions | 33,500 | 54,000 | 44,022 | 2,115 | 18,160 | 21,348 | ||||||||||||||||||
Plan Participants’ Contributions | — | — | — | 2,265 | 2,141 | 1,956 | ||||||||||||||||||
Benefits Paid | (56,254 | ) | (55,152 | ) | (55,099 | ) | (24,069 | ) | (23,758 | ) | (24,712 | ) | ||||||||||||
Fair Value of Assets at End of Period | $ | 869,791 | $ | 799,307 | $ | 701,676 | $ | 497,601 | $ | 472,392 | $ | 414,134 | ||||||||||||
Net Amount Recognized at End of Period (Funded Status) | $ | (129,708 | ) | $ | (146,998 | ) | $ | (369,068 | ) | $ | 32,018 | $ | 11,758 | $ | (147,129 | ) | ||||||||
Amounts Recognized in the Balance Sheets Consist of: | ||||||||||||||||||||||||
Non-Current Liabilities | $ | (129,708 | ) | $ | (146,998 | ) | $ | (369,068 | ) | $ | (4,494 | ) | $ | (11,016 | ) | $ | (147,129 | ) | ||||||
Non-Current Assets | — | — | — | 36,512 | 22,774 | — | ||||||||||||||||||
Net Amount Recognized at End of Period | $ | (129,708 | ) | $ | (146,998 | ) | $ | (369,068 | ) | $ | 32,018 | $ | 11,758 | $ | (147,129 | ) | ||||||||
Accumulated Benefit Obligation | $ | 940,068 | $ | 886,942 | $ | 986,223 | N/A | N/A | N/A | |||||||||||||||
Weighted Average Assumptions Used to Determine Benefit Obligation at September 30 | ||||||||||||||||||||||||
Discount Rate | 4.25 | % | 4.75 | % | 3.5 | % | 4.25 | % | 4.75 | % | 3.5 | % | ||||||||||||
Rate of Compensation Increase | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | ||||||||||||
Retirement Plan | Other Post-Retirement Benefits | |||||||||||||||||||||||
Year Ended September 30 | Year Ended September 30 | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Components of Net Periodic Benefit Cost | ||||||||||||||||||||||||
Service Cost | $ | 11,987 | $ | 15,846 | $ | 14,202 | $ | 2,939 | $ | 4,705 | $ | 4,016 | ||||||||||||
Interest Cost | 43,574 | 36,498 | 41,526 | 21,308 | 19,212 | 21,315 | ||||||||||||||||||
Expected Return on Plan Assets | (59,974 | ) | (57,346 | ) | (59,701 | ) | (37,424 | ) | (32,872 | ) | (28,971 | ) | ||||||||||||
Amortization of Prior Service Cost (Credit) | 210 | 238 | 269 | (2,138 | ) | (2,138 | ) | (2,138 | ) | |||||||||||||||
Amortization of Transition Amount | — | — | — | — | 8 | 10 | ||||||||||||||||||
Recognition of Actuarial Loss(1) | 36,007 | 52,776 | 39,615 | 2,645 | 20,892 | 24,057 | ||||||||||||||||||
Net Amortization and Deferral for Regulatory Purposes | 8,151 | (10,406 | ) | (6,900 | ) | 23,263 | 11,844 | 6,162 | ||||||||||||||||
Net Periodic Benefit Cost | $ | 39,955 | $ | 37,606 | $ | 29,011 | $ | 10,593 | $ | 21,651 | $ | 24,451 | ||||||||||||
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost at September 30 | ||||||||||||||||||||||||
Discount Rate | 4.75 | % | 3.5 | % | 4.5 | % | 4.75 | % | 3.5 | % | 4.5 | % | ||||||||||||
Expected Return on Plan Assets | 8 | % | 8 | % | 8.25 | % | 8 | % | 8 | % | 8.25 | % | ||||||||||||
Rate of Compensation Increase | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | 4.75 | % | ||||||||||||
-1 | Distribution Corporation’s New York jurisdiction calculates the amortization of the actuarial loss on a vintage year basis over 10 years, as mandated by the NYPSC. All the other subsidiaries of the Company utilize the corridor approach. | |||||||||||||||||||||||
Schedule Of Cumulative Amounts Recognized In AOCI (Loss) And Regulatory Assets And Liabilities | ' | |||||||||||||||||||||||
Retirement | Other | Non-Qualified | ||||||||||||||||||||||
Plan | Post-Retirement | Benefit Plans | ||||||||||||||||||||||
Benefits | ||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities(1) | ||||||||||||||||||||||||
Net Actuarial Loss | $ | (226,897 | ) | $ | (32,082 | ) | $ | (23,532 | ) | |||||||||||||||
Prior Service (Cost) Credit | (856 | ) | 6,940 | — | ||||||||||||||||||||
Net Amount Recognized | $ | (227,753 | ) | $ | (25,142 | ) | $ | (23,532 | ) | |||||||||||||||
Changes to Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities Recognized During Fiscal 2014(1) | ||||||||||||||||||||||||
Decrease (Increase) in Actuarial Loss, excluding amortization(2) | $ | (20,622 | ) | $ | 6,387 | $ | (5,424 | ) | ||||||||||||||||
Change due to Amortization of Actuarial Loss | 36,007 | 2,645 | 3,008 | |||||||||||||||||||||
Prior Service (Cost) Credit | 210 | (2,138 | ) | — | ||||||||||||||||||||
Net Change | $ | 15,595 | $ | 6,894 | $ | (2,416 | ) | |||||||||||||||||
Amounts Expected to be Recognized in Net Periodic Benefit Cost in the Next Fiscal Year(1) | ||||||||||||||||||||||||
Net Actuarial Loss | $ | (36,129 | ) | $ | (4,148 | ) | $ | (2,925 | ) | |||||||||||||||
Prior Service (Cost) Credit | (183 | ) | 1,913 | — | ||||||||||||||||||||
Net Amount Expected to be Recognized | $ | (36,312 | ) | $ | (2,235 | ) | $ | (2,925 | ) | |||||||||||||||
-1 | Amounts presented are shown before recognizing deferred taxes. | |||||||||||||||||||||||
-2 | Amounts presented include the impact of actuarial gains/losses related to return on assets, as well as the Actuarial (Gain) Loss amounts presented in the Change in Benefit Obligation. | |||||||||||||||||||||||
Schedule Of Expected Benefit Payments | ' | |||||||||||||||||||||||
Benefit Payments | Subsidy Receipts | |||||||||||||||||||||||
2015 | $ | 25,594 | $ | (1,955 | ) | |||||||||||||||||||
2016 | $ | 26,909 | $ | (2,143 | ) | |||||||||||||||||||
2017 | $ | 28,113 | $ | (2,323 | ) | |||||||||||||||||||
2018 | $ | 29,226 | $ | (2,511 | ) | |||||||||||||||||||
2019 | $ | 30,173 | $ | (2,708 | ) | |||||||||||||||||||
2020 through 2024 | $ | 163,470 | $ | (16,104 | ) | |||||||||||||||||||
Schedule Of Health Care Cost Trend Rates | ' | |||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Rate of Increase for Pre Age 65 Participants | 7.1 | % | -1 | 7.28 | % | -1 | 7.46 | % | -1 | |||||||||||||||
Rate of Increase for Post Age 65 Participants | 6.73 | % | -1 | 6.78 | % | -1 | 6.84 | % | -1 | |||||||||||||||
Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits | 7.47 | % | -1 | 7.78 | % | -1 | 8.08 | % | -1 | |||||||||||||||
Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement | 6.73 | % | -1 | 6.78 | % | -1 | 6.84 | % | -1 | |||||||||||||||
Annual Rate of Increase in the Per Capita Medicare Part D Subsidy | 6.79 | % | -1 | 7.03 | % | -1 | 7.13 | % | -1 | |||||||||||||||
-1 | It was assumed that this rate would gradually decline to 4.5% by 2028. | |||||||||||||||||||||||
Other Post-Retirement Benefit Plans [Member] | ' | |||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||||||||||
Schedule Of Fair Value Of Plan Assets | ' | |||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Other Post-Retirement Benefit Assets held in VEBA Trusts | ||||||||||||||||||||||||
Collective Trust Funds — Domestic Equities | $ | 148,219 | $ | — | $ | 148,219 | $ | — | ||||||||||||||||
Collective Trust Funds — International Equities | 54,881 | — | 54,881 | — | ||||||||||||||||||||
Exchange Traded Funds — Fixed Income | 236,513 | 236,513 | — | — | ||||||||||||||||||||
Cash Held in Collective Trust Funds | 6,412 | — | 6,412 | — | ||||||||||||||||||||
Total VEBA Trust Investments | 446,025 | 236,513 | 209,512 | — | ||||||||||||||||||||
401(h) Investments | 54,921 | 14,105 | 37,907 | 2,909 | ||||||||||||||||||||
Total Investments (including 401(h) Investments) | $ | 500,946 | $ | 250,618 | $ | 247,419 | $ | 2,909 | ||||||||||||||||
Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative) | (3,345 | ) | ||||||||||||||||||||||
Total Other Post-Retirement Benefit Assets | $ | 497,601 | ||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Other Post-Retirement Benefit Assets held in VEBA Trusts | ||||||||||||||||||||||||
Collective Trust Funds — Domestic Equities | $ | 205,623 | $ | — | $ | 205,623 | $ | — | ||||||||||||||||
Collective Trust Funds — International Equities | 87,613 | — | 87,613 | — | ||||||||||||||||||||
Exchange Traded Funds — Fixed Income | 122,558 | 122,558 | — | — | ||||||||||||||||||||
Real Estate | 55 | — | — | 55 | ||||||||||||||||||||
Cash Held in Collective Trust Funds | 11,678 | — | 11,678 | — | ||||||||||||||||||||
Total VEBA Trust Investments | 427,527 | 122,558 | 304,914 | 55 | ||||||||||||||||||||
401(h) Investments | 49,453 | 20,141 | 26,706 | 2,606 | ||||||||||||||||||||
Total Investments (including 401(h) Investments) | $ | 476,980 | $ | 142,699 | $ | 331,620 | $ | 2,661 | ||||||||||||||||
Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative) | (4,588 | ) | ||||||||||||||||||||||
Total Other Post-Retirement Benefit Assets | $ | 472,392 | ||||||||||||||||||||||
Schedule Of Significant Unobservable Input Changes In Plan Assets | ' | |||||||||||||||||||||||
Other Post-Retirement Benefit Level 3 Assets | ||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
VEBA | Including | Other | ||||||||||||||||||||||
Trust | 401(h) | Post-Retirement | ||||||||||||||||||||||
Investments | Investments | Benefit | ||||||||||||||||||||||
Real | Investments | |||||||||||||||||||||||
Estate | ||||||||||||||||||||||||
Balance at September 30, 2012 | $ | 1,305 | $ | 2,680 | $ | 3,985 | ||||||||||||||||||
Realized Gains/(Losses) | 940 | (4 | ) | 936 | ||||||||||||||||||||
Unrealized Gains/(Losses) | 385 | 156 | 541 | |||||||||||||||||||||
Purchases | — | 11 | 11 | |||||||||||||||||||||
Sales | (2,575 | ) | (237 | ) | (2,812 | ) | ||||||||||||||||||
Balance at September 30, 2013 | 55 | 2,606 | 2,661 | |||||||||||||||||||||
Realized Gains/(Losses) | (40 | ) | 4 | (36 | ) | |||||||||||||||||||
Unrealized Gains/(Losses) | — | 239 | 239 | |||||||||||||||||||||
Purchases | — | 65 | 65 | |||||||||||||||||||||
Sales | (15 | ) | (5 | ) | (20 | ) | ||||||||||||||||||
Balance at September 30, 2014 | $ | — | $ | 2,909 | $ | 2,909 | ||||||||||||||||||
Retirement Plan [Member] | ' | |||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ' | |||||||||||||||||||||||
Schedule Of Fair Value Of Plan Assets | ' | |||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Retirement Plan Investments | ||||||||||||||||||||||||
Domestic Equities(1) | $ | 268,649 | $ | 171,979 | $ | 96,670 | $ | — | ||||||||||||||||
International Equities(2) | 80,957 | 1,969 | 78,988 | — | ||||||||||||||||||||
Global Equities(3) | 104,238 | — | 104,238 | — | ||||||||||||||||||||
Domestic Fixed Income(4) | 299,494 | 63,187 | 236,307 | — | ||||||||||||||||||||
International Fixed Income(5) | 1,240 | 508 | 732 | — | ||||||||||||||||||||
Global Fixed Income(6) | 93,704 | — | 93,704 | — | ||||||||||||||||||||
Hedge Fund Investments | 45,213 | — | — | 45,213 | ||||||||||||||||||||
Real Estate | 3,792 | — | — | 3,792 | ||||||||||||||||||||
Cash and Cash Equivalents | 33,544 | — | 33,544 | — | ||||||||||||||||||||
Total Retirement Plan Investments | 930,831 | 237,643 | 644,183 | 49,005 | ||||||||||||||||||||
401(h) Investments | (54,921 | ) | (14,105 | ) | (37,907 | ) | (2,909 | ) | ||||||||||||||||
Total Retirement Plan Investments (excluding 401(h) Investments) | $ | 875,910 | $ | 223,538 | $ | 606,276 | $ | 46,096 | ||||||||||||||||
Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash | (6,119 | ) | ||||||||||||||||||||||
Total Retirement Plan Assets | $ | 869,791 | ||||||||||||||||||||||
Total Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
Amounts at | ||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||
Retirement Plan Investments | ||||||||||||||||||||||||
Domestic Equities(1) | $ | 402,107 | $ | 271,071 | $ | 131,036 | $ | — | ||||||||||||||||
International Equities(2) | 103,028 | 2,355 | 100,673 | — | ||||||||||||||||||||
Global Equities(3) | 25,325 | — | 25,325 | — | ||||||||||||||||||||
Domestic Fixed Income(4) | 163,750 | 71,185 | 92,565 | — | ||||||||||||||||||||
International Fixed Income(5) | 2,762 | 1,318 | 1,444 | — | ||||||||||||||||||||
Global Fixed Income(6) | 88,084 | — | 88,084 | — | ||||||||||||||||||||
Hedge Fund Investments | 42,027 | — | — | 42,027 | ||||||||||||||||||||
Real Estate | 2,723 | — | — | 2,723 | ||||||||||||||||||||
Cash and Cash Equivalents | 22,694 | — | 22,694 | — | ||||||||||||||||||||
Total Retirement Plan Investments | 852,500 | 345,929 | 461,821 | 44,750 | ||||||||||||||||||||
401(h) Investments | (49,453 | ) | (20,141 | ) | (26,706 | ) | (2,606 | ) | ||||||||||||||||
Total Retirement Plan Investments (excluding 401(h) Investments) | $ | 803,047 | $ | 325,788 | $ | 435,115 | $ | 42,144 | ||||||||||||||||
Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash | (3,740 | ) | ||||||||||||||||||||||
Total Retirement Plan Assets | $ | 799,307 | ||||||||||||||||||||||
-1 | Domestic Equities include mostly collective trust funds, common stock, and exchange traded funds. | |||||||||||||||||||||||
-2 | International Equities include mostly collective trust funds and common stock. | |||||||||||||||||||||||
-3 | Global Equities are comprised of a collective trust fund. | |||||||||||||||||||||||
-4 | Domestic Fixed Income securities include mostly collective trust funds, corporate/government bonds and mortgages, and exchange traded funds. | |||||||||||||||||||||||
-5 | International Fixed Income securities include mostly collective trust funds and exchange traded funds. | |||||||||||||||||||||||
-6 | Global Fixed Income securities are comprised of a collective trust fund. | |||||||||||||||||||||||
Schedule Of Significant Unobservable Input Changes In Plan Assets | ' | |||||||||||||||||||||||
Retirement Plan Level 3 Assets | ||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||
Hedge | Real | Excluding | Total | |||||||||||||||||||||
Funds | Estate | 401(h) | ||||||||||||||||||||||
Investments | ||||||||||||||||||||||||
Balance at September 30, 2012 | $ | 39,956 | $ | 6,170 | $ | (2,680 | ) | $ | 43,446 | |||||||||||||||
Realized Gains/(Losses) | — | (73 | ) | 4 | (69 | ) | ||||||||||||||||||
Unrealized Gains/(Losses) | 2,071 | 515 | (156 | ) | 2,430 | |||||||||||||||||||
Purchases | — | 188 | (11 | ) | 177 | |||||||||||||||||||
Sales | — | (4,077 | ) | 237 | (3,840 | ) | ||||||||||||||||||
Balance at September 30, 2013 | 42,027 | 2,723 | (2,606 | ) | 42,144 | |||||||||||||||||||
Realized Gains/(Losses) | — | 62 | (4 | ) | 58 | |||||||||||||||||||
Unrealized Gains/(Losses) | 3,186 | (10 | ) | (239 | ) | 2,937 | ||||||||||||||||||
Purchases | — | 1,111 | (65 | ) | 1,046 | |||||||||||||||||||
Sales | — | (94 | ) | 5 | (89 | ) | ||||||||||||||||||
Balance at September 30, 2014 | $ | 45,213 | $ | 3,792 | $ | (2,909 | ) | $ | 46,096 | |||||||||||||||
Business_Segment_Information_T
Business Segment Information (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Segment Information By Segment | ' | |||||||||||||||||||||||||||||||||||
Year Ended September 30, 2014 | ||||||||||||||||||||||||||||||||||||
Exploration | Pipeline | Gathering | Utility | Energy | Total | All | Corporate | Total | ||||||||||||||||||||||||||||
and | and | Marketing | Reportable | Other | and | Consolidated | ||||||||||||||||||||||||||||||
Production | Storage | Segments | Intersegment | |||||||||||||||||||||||||||||||||
Eliminations | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Revenue from External Customers(1) | $ | 804,096 | $ | 200,664 | $ | 673 | $ | 831,156 | $ | 271,993 | $ | 2,108,582 | $ | 3,532 | $ | 967 | $ | 2,113,081 | ||||||||||||||||||
Intersegment Revenues | $ | — | $ | 83,744 | $ | 69,937 | $ | 18,462 | $ | 1,159 | $ | 173,302 | $ | — | $ | (173,302 | ) | $ | — | |||||||||||||||||
Interest Income | $ | 1,909 | $ | 284 | $ | 120 | $ | 3,010 | $ | 173 | $ | 5,496 | $ | 106 | $ | (1,432 | ) | $ | 4,170 | |||||||||||||||||
Interest Expense | $ | 42,232 | $ | 26,428 | $ | 1,726 | $ | 27,693 | $ | 31 | $ | 98,110 | $ | 6 | $ | (3,839 | ) | $ | 94,277 | |||||||||||||||||
Depreciation, Depletion and Amortization | $ | 296,210 | $ | 36,642 | $ | 6,116 | $ | 43,594 | $ | 197 | $ | 382,759 | $ | 344 | $ | 678 | $ | 383,781 | ||||||||||||||||||
Income Tax Expense (Benefit) | $ | 81,370 | $ | 47,100 | $ | 23,636 | $ | 33,918 | $ | 3,761 | $ | 189,785 | $ | 822 | $ | (993 | ) | $ | 189,614 | |||||||||||||||||
Segment Profit: Net Income (Loss) | $ | 121,569 | $ | 77,559 | $ | 32,709 | $ | 64,059 | $ | 6,631 | $ | 302,527 | $ | 1,160 | $ | (4,274 | ) | $ | 299,413 | |||||||||||||||||
Expenditures for Additions to Long-Lived Assets | $ | 602,705 | $ | 139,821 | $ | 137,799 | $ | 88,810 | $ | 264 | $ | 969,399 | $ | 274 | $ | 234 | $ | 969,907 | ||||||||||||||||||
At September 30, 2014 | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Segment Assets | $ | 3,100,514 | $ | 1,367,181 | $ | 326,662 | $ | 1,862,850 | $ | 76,238 | $ | 6,733,445 | $ | 86,460 | $ | (80,308 | ) | $ | 6,739,597 | |||||||||||||||||
Year Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Exploration | Pipeline | Gathering | Utility | Energy | Total | All | Corporate | Total | ||||||||||||||||||||||||||||
and | and | Marketing | Reportable | Other | and | Consolidated | ||||||||||||||||||||||||||||||
Production | Storage | Segments | Intersegment | |||||||||||||||||||||||||||||||||
Elimination | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Revenue from External Customers(1) | $ | 702,937 | $ | 178,184 | $ | 1,324 | $ | 730,319 | $ | 211,990 | $ | 1,824,754 | $ | 3,910 | $ | 887 | $ | 1,829,551 | ||||||||||||||||||
Intersegment Revenues | $ | — | $ | 89,424 | $ | 33,457 | $ | 16,020 | $ | 1,384 | $ | 140,285 | $ | — | $ | (140,285 | ) | $ | — | |||||||||||||||||
Interest Income | $ | 1,501 | $ | 193 | $ | 55 | $ | 3,417 | $ | 169 | $ | 5,335 | $ | 115 | $ | (1,115 | ) | $ | 4,335 | |||||||||||||||||
Interest Expense | $ | 39,745 | $ | 26,248 | $ | 2,283 | $ | 29,076 | $ | 36 | $ | 97,388 | $ | 2 | $ | (3,279 | ) | $ | 94,111 | |||||||||||||||||
Depreciation, Depletion and Amortization | $ | 243,431 | $ | 35,156 | $ | 3,945 | $ | 42,729 | $ | 123 | $ | 325,384 | $ | 577 | $ | 799 | $ | 326,760 | ||||||||||||||||||
Income Tax Expense (Benefit) | $ | 95,317 | $ | 38,626 | $ | 10,287 | $ | 31,065 | $ | 2,450 | $ | 177,745 | $ | 529 | $ | (5,516 | ) | $ | 172,758 | |||||||||||||||||
Segment Profit: Net Income (Loss) | $ | 115,391 | $ | 63,245 | $ | 13,321 | $ | 65,686 | $ | 4,589 | $ | 262,232 | $ | 894 | $ | (3,125 | ) | $ | 260,001 | |||||||||||||||||
Expenditures for Additions to Long-Lived Assets | $ | 533,129 | $ | 56,144 | $ | 54,792 | $ | 71,970 | $ | 595 | $ | 716,630 | $ | 307 | $ | 160 | $ | 717,097 | ||||||||||||||||||
At September 30, 2013 | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Segment Assets | $ | 2,746,233 | $ | 1,246,027 | $ | 203,323 | $ | 1,870,587 | $ | 67,267 | $ | 6,133,437 | $ | 95,793 | $ | (10,883 | ) | $ | 6,218,347 | |||||||||||||||||
Year Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Exploration | Pipeline | Gathering | Utility | Energy | Total | All | Corporate | Total | ||||||||||||||||||||||||||||
and | and | Marketing | Reportable | Other | and | Consolidated | ||||||||||||||||||||||||||||||
Production | Storage | Segments | Intersegment | |||||||||||||||||||||||||||||||||
Eliminations | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Revenue from External Customers(1) | $ | 558,180 | $ | 172,312 | $ | 704 | $ | 704,518 | $ | 186,579 | $ | 1,622,293 | $ | 3,603 | $ | 957 | $ | 1,626,853 | ||||||||||||||||||
Intersegment Revenues | $ | — | $ | 86,963 | $ | 16,771 | $ | 14,604 | $ | 1,425 | $ | 119,763 | $ | — | $ | (119,763 | ) | $ | — | |||||||||||||||||
Interest Income | $ | 1,493 | $ | 199 | $ | 1 | $ | 2,765 | $ | 188 | $ | 4,646 | $ | 174 | $ | (1,131 | ) | $ | 3,689 | |||||||||||||||||
Interest Expense | $ | 29,243 | $ | 25,603 | $ | 1,444 | $ | 33,181 | $ | 41 | $ | 89,512 | $ | 294 | $ | (3,566 | ) | $ | 86,240 | |||||||||||||||||
Depreciation, Depletion and Amortization | $ | 187,624 | $ | 38,182 | $ | 1,691 | $ | 42,757 | $ | 90 | $ | 270,344 | $ | 400 | $ | 786 | $ | 271,530 | ||||||||||||||||||
Income Tax Expense (Benefit) | $ | 79,050 | $ | 37,655 | $ | 4,825 | $ | 29,110 | $ | 1,933 | $ | 152,573 | $ | (490 | ) | $ | (1,529 | ) | $ | 150,554 | ||||||||||||||||
Segment Profit: Net Income (Loss) | $ | 96,498 | $ | 60,527 | $ | 6,855 | $ | 58,590 | $ | 4,169 | $ | 226,639 | $ | 13 | $ | (6,575 | ) | $ | 220,077 | |||||||||||||||||
Expenditures for Additions to Long-Lived Assets | $ | 693,810 | $ | 144,167 | $ | 80,012 | $ | 58,284 | $ | 770 | $ | 977,043 | $ | 5 | $ | 346 | $ | 977,394 | ||||||||||||||||||
At September 30, 2012 | ||||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Segment Assets | $ | 2,367,485 | $ | 1,243,862 | $ | 116,756 | $ | 2,070,413 | $ | 61,968 | $ | 5,860,484 | $ | 93,178 | $ | (18,520 | ) | $ | 5,935,142 | |||||||||||||||||
-1 | All Revenue from External Customers originated in the United States. | |||||||||||||||||||||||||||||||||||
Schedule Of Long-Lived Assets, By Geographical Areas | ' | |||||||||||||||||||||||||||||||||||
Geographic Information | At September 30 | |||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
(Thousands) | ||||||||||||||||||||||||||||||||||||
Long-Lived Assets: | ||||||||||||||||||||||||||||||||||||
United States | $ | 6,362,265 | $ | 5,769,670 | $ | 5,579,566 | ||||||||||||||||||||||||||||||
Quarterly_Financial_Data_Table
Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule Of Quarterly Financial Information | ' | ||||||||||||||||||||
Quarter Ended | Operating | Operating | Net Income | Earnings per | |||||||||||||||||
Revenues | Income | Available for | Common Share | ||||||||||||||||||
Common Stock | Basic | Diluted | |||||||||||||||||||
(Thousands, except per common share amounts) | |||||||||||||||||||||
2014 | |||||||||||||||||||||
9/30/14 | $ | 366,623 | $ | 102,004 | $ | 57,431 | $ | 0.68 | $ | 0.68 | |||||||||||
6/30/14 | $ | 440,144 | $ | 127,013 | $ | 64,520 | $ | 0.77 | $ | 0.76 | |||||||||||
3/31/14 | $ | 756,242 | $ | 180,075 | $ | 95,210 | -1 | $ | 1.14 | $ | 1.12 | ||||||||||
12/31/13 | $ | 550,072 | $ | 160,581 | $ | 82,252 | $ | 0.98 | $ | 0.97 | |||||||||||
2013 | |||||||||||||||||||||
9/30/13 | $ | 338,863 | $ | 96,636 | $ | 47,842 | -2 | $ | 0.57 | $ | 0.57 | ||||||||||
6/30/13 | $ | 440,008 | $ | 127,004 | $ | 58,495 | $ | 0.7 | $ | 0.69 | |||||||||||
3/31/13 | $ | 597,826 | $ | 162,991 | $ | 85,720 | $ | 1.03 | $ | 1.02 | |||||||||||
12/31/12 | $ | 452,854 | $ | 131,207 | $ | 67,944 | $ | 0.81 | $ | 0.81 | |||||||||||
-1 | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | ||||||||||||||||||||
-2 | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. |
Market_For_Common_Stock_And_Re1
Market For Common Stock And Related Shareholder Matters (Tables) | 12 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Market For Common Stock And Related Shareholder Matters [Abstract] | ' | |||||||||||
Schedule Of Price Ranges And Dividends Declared | ' | |||||||||||
The quarterly price ranges (based on intra-day prices) and quarterly dividends declared for the fiscal years ended September 30, 2014 and 2013, are shown below: | ||||||||||||
Price Range | Dividends | |||||||||||
Quarter Ended | High | Low | Declared | |||||||||
2014 | ||||||||||||
9/30/14 | $ | 78.79 | $ | 65.29 | $ | 0.385 | ||||||
6/30/14 | $ | 78.46 | $ | 68.5 | $ | 0.385 | ||||||
3/31/14 | $ | 77.05 | $ | 68.12 | $ | 0.375 | ||||||
12/31/13 | $ | 72.53 | $ | 65.23 | $ | 0.375 | ||||||
2013 | ||||||||||||
9/30/13 | $ | 69.27 | $ | 57.52 | $ | 0.375 | ||||||
6/30/13 | $ | 64.58 | $ | 56.8 | $ | 0.375 | ||||||
3/31/13 | $ | 61.44 | $ | 48.51 | $ | 0.365 | ||||||
12/31/12 | $ | 55.66 | $ | 49 | $ | 0.365 | ||||||
Supplementary_Information_For_1
Supplementary Information For Oil And Gas Producing Activities (Tables) | 12 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] | ' | |||||||||||||||||||
Capitalized Costs Relating To Oil And Gas Producing Activities | ' | |||||||||||||||||||
Capitalized Costs Relating to Oil and Gas Producing Activities | ||||||||||||||||||||
At September 30 | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
(Thousands) | ||||||||||||||||||||
Proved Properties(1) | $ | 3,941,143 | $ | 3,393,612 | ||||||||||||||||
Unproved Properties | 141,719 | 106,085 | ||||||||||||||||||
4,082,862 | 3,499,697 | |||||||||||||||||||
Less — Accumulated Depreciation, Depletion and Amortization | 1,211,610 | 919,989 | ||||||||||||||||||
$ | 2,871,252 | $ | 2,579,708 | |||||||||||||||||
-1 | Includes asset retirement costs of $75.7 million and $80.6 million at September 30, 2014 and 2013, respectively. | |||||||||||||||||||
Summary Of Capitalized Costs Of Unproved Properties Excluded From Amortization | ' | |||||||||||||||||||
Following is a summary of costs excluded from amortization at September 30, 2014: | ||||||||||||||||||||
Total | Year Costs Incurred | |||||||||||||||||||
as of | ||||||||||||||||||||
September 30, | ||||||||||||||||||||
2014 | 2014 | 2013 | 2012 | Prior | ||||||||||||||||
(Thousands) | ||||||||||||||||||||
Acquisition Costs | $ | 61,712 | $ | 7,057 | $ | 905 | $ | 5,585 | $ | 48,165 | ||||||||||
Development Costs | 42,362 | 39,339 | 677 | 1,405 | 941 | |||||||||||||||
Exploration Costs | 36,882 | 36,882 | — | — | — | |||||||||||||||
Capitalized Interest | 763 | 763 | — | — | — | |||||||||||||||
$ | 141,719 | $ | 84,041 | $ | 1,582 | $ | 6,990 | $ | 49,106 | |||||||||||
Costs Incurred In Oil And Gas Property Acquisition, Exploration And Development Activities | ' | |||||||||||||||||||
Costs Incurred in Oil and Gas Property Acquisition, Exploration and Development Activities | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Property Acquisition Costs: | ||||||||||||||||||||
Proved | $ | 18,213 | $ | 7,575 | $ | 13,095 | ||||||||||||||
Unproved | 7,884 | 9,274 | 13,867 | |||||||||||||||||
Exploration Costs(1) | 71,850 | 49,483 | 84,624 | |||||||||||||||||
Development Costs(2) | 490,164 | 460,554 | 576,397 | |||||||||||||||||
Asset Retirement Costs | (4,946 | ) | 37,546 | 10,344 | ||||||||||||||||
$ | 583,165 | $ | 564,432 | $ | 698,327 | |||||||||||||||
-1 | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.4 million and $1.0 million, respectively. | |||||||||||||||||||
-2 | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.7 million and $2.0 million, respectively. | |||||||||||||||||||
Results Of Operations For Producing Activities | ' | |||||||||||||||||||
Results of Operations for Producing Activities | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands, except per Mcfe amounts) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Operating Revenues: | ||||||||||||||||||||
Natural Gas (includes revenues from sales to affiliates of $1 for all years presented and transfers to operations of $2,145, $612 and $0, respectively) | $ | 515,080 | $ | 371,311 | $ | 181,544 | ||||||||||||||
Oil, Condensate and Other Liquids | 298,179 | 291,762 | 307,018 | |||||||||||||||||
Total Operating Revenues(1) | 813,259 | 663,073 | 488,562 | |||||||||||||||||
Production/Lifting Costs | 165,534 | 119,243 | 83,361 | |||||||||||||||||
Franchise/Ad Valorem Taxes | 20,765 | 17,200 | 23,620 | |||||||||||||||||
Accretion Expense | 6,192 | 3,929 | 3,084 | |||||||||||||||||
Depreciation, Depletion and Amortization ($1.82, $1.98 and $2.19 per Mcfe of production) | 291,651 | 238,467 | 182,759 | |||||||||||||||||
Income Tax Expense | 140,484 | 120,431 | 81,904 | |||||||||||||||||
Results of Operations for Producing Activities (excluding corporate overheads and interest charges) | $ | 188,633 | $ | 163,803 | $ | 113,834 | ||||||||||||||
-1 | Exclusive of hedging gains and losses. See further discussion in Note G — Financial Instruments. | |||||||||||||||||||
Proved Developed And Undeveloped Oil And Gas Reserve Quantities | ' | |||||||||||||||||||
Gas MMcf | ||||||||||||||||||||
U. S. | ||||||||||||||||||||
Appalachian | West | Total | ||||||||||||||||||
Region | Coast | Company | ||||||||||||||||||
Region | ||||||||||||||||||||
Proved Developed and Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 606,606 | 68,316 | 674,922 | |||||||||||||||||
Extensions and Discoveries | 435,460 | -1 | 638 | 436,098 | ||||||||||||||||
Revisions of Previous Estimates | (53,992 | ) | (2,463 | ) | (56,455 | ) | ||||||||||||||
Production | (62,663 | ) | -2 | (3,468 | ) | (66,131 | ) | |||||||||||||
September 30, 2012 | 925,411 | 63,023 | 988,434 | |||||||||||||||||
Extensions and Discoveries | 360,922 | -1 | 702 | 361,624 | ||||||||||||||||
Revisions of Previous Estimates | 53,038 | 112 | 53,150 | |||||||||||||||||
Production | (100,633 | ) | -2 | (3,060 | ) | (103,693 | ) | |||||||||||||
September 30, 2013 | 1,238,738 | 60,777 | 1,299,515 | |||||||||||||||||
Extensions and Discoveries | 446,821 | -1 | — | 446,821 | ||||||||||||||||
Revisions of Previous Estimates | 43,690 | 1,358 | 45,048 | |||||||||||||||||
Production | (139,097 | ) | -2 | (3,210 | ) | (142,307 | ) | |||||||||||||
Purchases of Minerals in Place | 33,986 | — | 33,986 | |||||||||||||||||
Sale of Minerals in Place | (76 | ) | (103 | ) | (179 | ) | ||||||||||||||
September 30, 2014 | 1,624,062 | 58,822 | 1,682,884 | |||||||||||||||||
Proved Developed Reserves: | ||||||||||||||||||||
September 30, 2011 | 350,458 | 63,965 | 414,423 | |||||||||||||||||
September 30, 2012 | 544,560 | 59,923 | 604,483 | |||||||||||||||||
September 30, 2013 | 807,055 | 59,862 | 866,917 | |||||||||||||||||
September 30, 2014 | 1,119,901 | 57,907 | 1,177,808 | |||||||||||||||||
Proved Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 256,148 | 4,351 | 260,499 | |||||||||||||||||
September 30, 2012 | 380,851 | 3,100 | 383,951 | |||||||||||||||||
September 30, 2013 | 431,683 | 915 | 432,598 | |||||||||||||||||
September 30, 2014 | 504,161 | 915 | 505,076 | |||||||||||||||||
-1 | Extensions and discoveries include 435 Bcf (during 2012), 355 Bcf (during 2013) and 442 Bcf (during 2014), of Marcellus Shale gas in the Appalachian Region. | |||||||||||||||||||
-2 | Production includes 55,812 MMcf (during 2012), 93,999 MMcf (during 2013) and 131,590 MMcf (during 2014), from Marcellus Shale fields (which exceed 15% of total reserves). | |||||||||||||||||||
Oil Mbbl | ||||||||||||||||||||
U. S. | ||||||||||||||||||||
Appalachian | West | Total | ||||||||||||||||||
Region | Coast | Company | ||||||||||||||||||
Region | ||||||||||||||||||||
Proved Developed and Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 279 | 43,066 | 43,345 | |||||||||||||||||
Extensions and Discoveries | 28 | 1,229 | 1,257 | |||||||||||||||||
Revisions of Previous Estimates | 35 | 1,095 | 1,130 | |||||||||||||||||
Production | (36 | ) | (2,834 | ) | (2,870 | ) | ||||||||||||||
September 30, 2012 | 306 | 42,556 | 42,862 | |||||||||||||||||
Extensions and Discoveries | — | 2,443 | 2,443 | |||||||||||||||||
Revisions of Previous Estimates | 5 | (881 | ) | (876 | ) | |||||||||||||||
Production | (28 | ) | (2,803 | ) | (2,831 | ) | ||||||||||||||
September 30, 2013 | 283 | 41,315 | 41,598 | |||||||||||||||||
Extensions and Discoveries | 18 | 1,521 | 1,539 | |||||||||||||||||
Revisions of Previous Estimates | (17 | ) | (1,677 | ) | (1,694 | ) | ||||||||||||||
Production | (31 | ) | (3,005 | ) | (3,036 | ) | ||||||||||||||
Purchases of Minerals in Place | — | 83 | 83 | |||||||||||||||||
Sales of Minerals in Place | — | (13 | ) | (13 | ) | |||||||||||||||
September 30, 2014 | 253 | 38,224 | 38,477 | |||||||||||||||||
Proved Developed Reserves: | ||||||||||||||||||||
September 30, 2011 | 274 | 37,306 | 37,580 | |||||||||||||||||
September 30, 2012 | 306 | 38,138 | 38,444 | |||||||||||||||||
September 30, 2013 | 283 | 38,082 | 38,365 | |||||||||||||||||
September 30, 2014 | 253 | 37,002 | 37,255 | |||||||||||||||||
Proved Undeveloped Reserves: | ||||||||||||||||||||
September 30, 2011 | 5 | 5,760 | 5,765 | |||||||||||||||||
September 30, 2012 | — | 4,418 | 4,418 | |||||||||||||||||
September 30, 2013 | — | 3,233 | 3,233 | |||||||||||||||||
September 30, 2014 | — | 1,222 | 1,222 | |||||||||||||||||
Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves | ' | |||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Future Cash Inflows | $ | 10,001,545 | $ | 8,943,942 | $ | 7,373,129 | ||||||||||||||
Less: | ||||||||||||||||||||
Future Production Costs | 2,795,657 | 2,334,393 | 1,919,530 | |||||||||||||||||
Future Development Costs | 790,033 | 749,876 | 619,573 | |||||||||||||||||
Future Income Tax Expense at Applicable Statutory Rate | 2,434,370 | 2,113,101 | 1,812,055 | |||||||||||||||||
Future Net Cash Flows | 3,981,485 | 3,746,572 | 3,021,971 | |||||||||||||||||
Less: | ||||||||||||||||||||
10% Annual Discount for Estimated Timing of Cash Flows | 1,914,607 | 1,780,206 | 1,552,180 | |||||||||||||||||
Standardized Measure of Discounted Future Net Cash Flows | $ | 2,066,878 | $ | 1,966,366 | $ | 1,469,791 | ||||||||||||||
Principal Sources Of Change In The Standardized Measure Of Discounted Future Net Cash Flows | ' | |||||||||||||||||||
The principal sources of change in the standardized measure of discounted future net cash flows were as follows: | ||||||||||||||||||||
Year Ended September 30 | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
(Thousands) | ||||||||||||||||||||
United States | ||||||||||||||||||||
Standardized Measure of Discounted Future | ||||||||||||||||||||
Net Cash Flows at Beginning of Year | $ | 1,966,366 | $ | 1,469,791 | $ | 1,524,157 | ||||||||||||||
Sales, Net of Production Costs | (626,960 | ) | (526,630 | ) | (381,581 | ) | ||||||||||||||
Net Changes in Prices, Net of Production Costs | (38,723 | ) | 339,655 | (385,019 | ) | |||||||||||||||
Extensions and Discoveries | 381,008 | 390,255 | 224,474 | |||||||||||||||||
Changes in Estimated Future Development Costs | 68,731 | 6,117 | 29,627 | |||||||||||||||||
Purchases of Minerals in Place | 34,705 | — | — | |||||||||||||||||
Sales of Minerals in Place | (691 | ) | — | — | ||||||||||||||||
Previously Estimated Development Costs Incurred | 179,502 | 148,535 | 252,967 | |||||||||||||||||
Net Change in Income Taxes at Applicable Statutory Rate | (231,807 | ) | (130,574 | ) | (19,280 | ) | ||||||||||||||
Revisions of Previous Quantity Estimates | 55,184 | 34,864 | 103,472 | |||||||||||||||||
Accretion of Discount and Other | 279,563 | 234,353 | 120,974 | |||||||||||||||||
Standardized Measure of Discounted Future Net Cash Flows at End of Year | $ | 2,066,878 | $ | 1,966,366 | $ | 1,469,791 | ||||||||||||||
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Full cost ceiling test discount factor | 10.00% | ' | ' |
Increase (decrease) estimated future net cash flows | ($33,600,000) | $71,600,000 | $128,400,000 |
Amount full cost ceiling exceeds book value of oil and gas properties | 148,400,000 | ' | ' |
Goodwill | 5,476,000 | 5,476,000 | ' |
Prior service credit | 200,000 | 300,000 | ' |
Gas stored underground - current | 39,422,000 | 51,484,000 | ' |
Customer Advances | 19,005,000 | 21,959,000 | ' |
Customer Security Deposits | 15,761,000 | 16,183,000 | ' |
Antidilutive securities | 1,007 | 181,418 | 844,872 |
Accumulated Losses [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Accumulated losses | 56,200,000 | 56,600,000 | ' |
Unamortized Debt Expense [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Regulated Reacquisition of Debt Cost Weighted Average Amortization Period | '5 years | ' | ' |
Amount Exceeds LIFO Basis [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Gas stored underground - current | 33,200,000 | ' | ' |
LIFO Method [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Gas stored underground - current | $25,300,000 | ' | ' |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies (Schedule Of Depreciable Plant By Segment) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | $7,791,390 | $7,006,331 |
Utility [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | 1,833,104 | 1,778,140 |
Pipeline And Storage [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | 1,609,593 | 1,547,192 |
Exploration And Production [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | 3,996,834 | 3,437,767 |
Energy Marketing [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | 3,366 | 3,460 |
Gathering [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | 239,507 | 130,082 |
All Other And Corporate [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Depreciable plant | $108,986 | $109,690 |
Summary_Of_Significant_Account5
Summary Of Significant Accounting Policies (Average Depreciation Depletion And Amortization Rates) (Details) (USD $) | 12 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Exploration And Production [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation depletion and amortization rate per Mcfe | $1.85 | [1] | $2.02 | [1] | $2.25 | [1] |
Utility [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Average depreciation, depletion and amortization rates | 2.60% | 2.60% | 2.60% | |||
Pipeline And Storage [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Average depreciation, depletion and amortization rates | 2.40% | 2.50% | 2.90% | |||
Energy Marketing [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Average depreciation, depletion and amortization rates | 5.80% | 3.90% | 3.60% | |||
Gathering [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Average depreciation, depletion and amortization rates | 3.30% | 3.70% | 3.30% | |||
All Other And Corporate [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Average depreciation, depletion and amortization rates | 0.90% | 1.30% | 1.10% | |||
Oil And Gas Producing Properties [Member] | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | |||
Depreciation depletion and amortization rate per Mcfe | $1.82 | $1.98 | $2.19 | |||
[1] | Amounts include depletion of oil and gas producing properties as well as depreciation of fixed assets. As disclosed in Note M — Supplementary Information for Oil and Gas Producing Properties, depletion of oil and gas producing properties amounted to $1.82, $1.98 and $2.19 per Mcfe of production in 2014, 2013 and 2012, respectively. |
Summary_Of_Significant_Account6
Summary Of Significant Accounting Policies (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | ($19,234) |
Other Comprehensive Gains and Losses Before Reclassifications | 1,710 |
Amounts Reclassified From Other Comprehensive Loss | 13,545 |
Ending balance | -3,979 |
Gains and Losses on Derivative Financial Instruments [Member] | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | 30,722 |
Other Comprehensive Gains and Losses Before Reclassifications | 4,805 |
Amounts Reclassified From Other Comprehensive Loss | 8,132 |
Ending balance | 43,659 |
Gains And Losses On Securities Available For Sale [Member] | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | 6,337 |
Other Comprehensive Gains and Losses Before Reclassifications | 2,465 |
Amounts Reclassified From Other Comprehensive Loss | -420 |
Ending balance | 8,382 |
Funded Status of the Pension and Other Post-Retirement Benefit Plans [Member] | ' |
Accumulated Other Comprehensive Income [Roll Forward] | ' |
Beginning balance | -56,293 |
Other Comprehensive Gains and Losses Before Reclassifications | -5,560 |
Amounts Reclassified From Other Comprehensive Loss | 5,833 |
Ending balance | ($56,020) |
Summary_Of_Significant_Account7
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Reclassification Out of Accumulated Other Comprehensive Loss) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Revenues | $366,623 | $440,144 | $756,242 | $550,072 | $338,863 | $440,008 | $597,826 | $452,854 | $2,113,081 | $1,829,551 | $1,626,853 | |||
Purchased Gas | ' | ' | ' | ' | ' | ' | ' | ' | -605,838 | -460,432 | -415,589 | |||
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | 9,461 | 4,697 | 5,133 | |||
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | 489,027 | 432,759 | 370,631 | |||
Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | -189,614 | -172,758 | -150,554 | |||
Net Income Available for Common Stock | 57,431 | 64,520 | 95,210 | [1] | 82,252 | 47,842 | [2] | 58,495 | 85,720 | 67,944 | 299,413 | 260,001 | 220,077 | |
Amount Of Gain Or (Loss) Reclassified From Accumulated Other Comprehensive Loss [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | -26,188 | ' | ' | |||
Income Tax Expense | ' | ' | ' | ' | ' | ' | ' | ' | 12,643 | ' | ' | |||
Net Income Available for Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | -13,545 | ' | ' | |||
Amount Of Gain Or (Loss) Reclassified From Accumulated Other Comprehensive Loss [Member] | Gains and Losses on Securities Available for Sale [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | 662 | ' | ' | |||
Amount Of Gain Or (Loss) Reclassified From Accumulated Other Comprehensive Loss [Member] | Amortization of Prior Year Funded Status of Pension and Other Post-Retirement Benefit Plans [Member] | Prior Service Credit [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net periodic benefit cost | ' | ' | ' | ' | ' | ' | ' | ' | 131 | [3] | ' | ' | ||
Amount Of Gain Or (Loss) Reclassified From Accumulated Other Comprehensive Loss [Member] | Amortization of Prior Year Funded Status of Pension and Other Post-Retirement Benefit Plans [Member] | Net Actuarial Loss [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Net periodic benefit cost | ' | ' | ' | ' | ' | ' | ' | ' | -9,334 | [3] | ' | ' | ||
Amount Of Gain Or (Loss) Reclassified From Accumulated Other Comprehensive Loss [Member] | Commodity Contract [Member] | Gains and Losses on Derivative Financial Instruments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Operating Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -14,880 | ' | ' | |||
Purchased Gas | ' | ' | ' | ' | ' | ' | ' | ' | ($2,767) | ' | ' | |||
[1] | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | |||||||||||||
[2] | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. | |||||||||||||
[3] | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost. Refer to Note H — Retirement Plan and Other Post-Retirement Benefits for additional details. |
Summary_Of_Significant_Account8
Summary Of Significant Accounting Policies (Components Of Other Current Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ||
Prepayments | $10,079 | $10,605 | ||
Prepaid Property and Other Taxes | 13,743 | 13,079 | ||
Fair Values of Firm Commitments | 0 | 1,829 | ||
Regulatory Assets | 22,719 | [1] | 26,995 | [1] |
Other Current Assets | 54,752 | 56,905 | ||
Federal [Member] | ' | ' | ||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ||
Income Taxes Receivable | 8,211 | 1,122 | ||
State [Member] | ' | ' | ||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ||
Income Taxes Receivable | $0 | $3,275 | ||
[1] | The Company recovers the cost of its regulatory assets but generally does not earn a return on them. There are a few exceptions to this rule. For example, the Company does earn a return on Unrecovered Purchased Gas Costs and, in the New York jurisdiction of its Utility segment, earns a return, within certain parameters, on the excess of cumulative funding to the pension plan over the cumulative amount collected in rates. |
Summary_Of_Significant_Account9
Summary Of Significant Accounting Policies (Schedule Of Other Accruals And Current Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Regulatory Liability | $51,817 | $32,841 |
Other Accruals and Current Liabilities | 136,672 | 83,946 |
Accrued Capital Expenditures [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Other | 80,348 | 41,100 |
Regulatory Liabilities [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Regulatory Liability | 18,072 | 20,013 |
Other Accruals [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Other | 32,454 | 22,833 |
State [Member] | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' |
Income Taxes Payable | $5,798 | $0 |
Asset_Retirement_Obligations_D
Asset Retirement Obligations (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ' |
Balance at Beginning of Year | $119,511 | $119,246 | $75,731 |
Liabilities Incurred and Revisions of Estimates | -2,496 | -4,796 | 41,653 |
Liabilities Settled | -6,955 | -1,744 | -2,997 |
Accretion Expense | 7,653 | 6,805 | 4,859 |
Balance at End of Year | $117,713 | $119,511 | $119,246 |
Regulatory_Matters_Narrative_D
Regulatory Matters (Narrative) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Regulatory Matters [Line Items] | ' | ' |
Authorized Increase In Distribution Corporation's Pipeline Replacement Spending | $8.20 | ' |
Allowed Rate Of Return On Equity | 9.10% | ' |
Rate proceeding refund provision pre tax | ' | $7.50 |
Maximum [Member] | ' | ' |
Regulatory Matters [Line Items] | ' | ' |
Allowed Rate Of Return On Equity Range | 10.50% | ' |
Minimum [Member] | ' | ' |
Regulatory Matters [Line Items] | ' | ' |
Allowed Rate Of Return On Equity Range | 9.50% | ' |
Shareholder Allocation [Member] | Nine Point Five Percent To Ten Point Five Percent Rate Of Return On Equity [Member] | ' | ' |
Regulatory Matters [Line Items] | ' | ' |
Earnings Sharing Mechanism Allocation Of Earnings | 50.00% | ' |
Shareholder Allocation [Member] | Above10.5 Percent Rate Of Return On Equity [Member] | ' | ' |
Regulatory Matters [Line Items] | ' | ' |
Earnings Sharing Mechanism Allocation Of Earnings | 20.00% | ' |
Deferred For Benefit Of Customers [Member] | Nine Point Five Percent To Ten Point Five Percent Rate Of Return On Equity [Member] | ' | ' |
Regulatory Matters [Line Items] | ' | ' |
Earnings Sharing Mechanism Allocation Of Earnings | 50.00% | ' |
Deferred For Benefit Of Customers [Member] | Above10.5 Percent Rate Of Return On Equity [Member] | ' | ' |
Regulatory Matters [Line Items] | ' | ' |
Earnings Sharing Mechanism Allocation Of Earnings | 80.00% | ' |
Regulatory_Matters_Schedule_Of
Regulatory Matters (Schedule Of Regulatory Assets And Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | $413,387 | [1] | $446,194 | [1] |
Less: Amounts Included in Other Current Assets | -22,719 | [1] | -26,995 | [1] |
Total Long-Term Regulatory Assets | 224,436 | 252,568 | ||
Total Regulatory Liabilities | 397,904 | 337,667 | ||
Less: Amounts Included in Current and Accrued Liabilities | -51,817 | -32,841 | ||
Total Long-Term Regulatory Liabilities | 81,152 | 61,549 | ||
Cost Of Removal Regulatory Liability [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Liabilities | 173,199 | 157,622 | ||
Taxes Refundable To Customers [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Liabilities | 91,736 | 85,655 | ||
Post-Retirement Benefit Costs [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Liabilities | 53,650 | 37,923 | ||
Amounts Payable To Customers [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Liabilities | 33,745 | 12,828 | ||
Off-System Sales And Capacity Release Credits [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Liabilities | 12,805 | [2] | 10,228 | [2] |
Other Accruals and Current Liabilities [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Less: Amounts Included in Current and Accrued Liabilities | -5,267 | -9,785 | ||
Other Regulatory Liabilities [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Liabilities | 32,769 | [3] | 33,411 | [3] |
Total Long-Term Regulatory Liabilities | 27,502 | 23,626 | ||
Non-Current Regulatory Liabilities [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Long-Term Regulatory Liabilities | 346,087 | 304,826 | ||
Pension Costs Asset [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 164,804 | [1],[4] | 187,181 | [1],[4] |
Post-Retirement Benefit Costs [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 17,128 | [1],[4] | 29,838 | [1],[4] |
Recoverable Future Taxes [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 163,485 | [1] | 163,355 | [1] |
Environmental Site Remediation Costs [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 25,645 | [1],[4] | 18,104 | [1],[4] |
NYPSC Assessment [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 12,730 | [1],[5] | 13,169 | [1],[5] |
Asset Retirement Obligations [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 12,006 | [1],[4] | 11,837 | [1],[4] |
Unamortized Debt Expense [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 2,747 | [1] | 3,276 | [1] |
Other Regulatory Assets [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Regulatory Assets | 14,842 | [1],[6] | 19,434 | [1],[6] |
Total Long-Term Regulatory Assets | 4,853 | 5,608 | ||
Other Current Assets [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Less: Amounts Included in Other Current Assets | -9,989 | -13,826 | ||
Long-Term Regulatory Assets [Member] | ' | ' | ||
Regulatory Assets And Liabilities [Line Items] | ' | ' | ||
Total Long-Term Regulatory Assets | $390,668 | [1] | $419,199 | [1] |
[1] | The Company recovers the cost of its regulatory assets but generally does not earn a return on them. There are a few exceptions to this rule. For example, the Company does earn a return on Unrecovered Purchased Gas Costs and, in the New York jurisdiction of its Utility segment, earns a return, within certain parameters, on the excess of cumulative funding to the pension plan over the cumulative amount collected in rates. | |||
[2] | Amounts are included in Other Accruals and Current Liabilities on the Consolidated Balance Sheets at September 30, 2014 and September 30, 2013 since such amounts are expected to be passed back to ratepayers in the next 12 months. | |||
[3] | $5,267 and $9,785 are included in Other Accruals and Current Liabilities on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively, since such amounts are expected to be recovered from ratepayers in the next 12 months. $27,502 and $23,626 are included in Other Regulatory Liabilities on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively. | |||
[4] | Included in Other Regulatory Assets on the Consolidated Balance Sheets. | |||
[5] | Amounts are included in Other Current Assets on the Consolidated Balance Sheets at September 30, 2014 and September 30, 2013 since such amounts are expected to be recovered from ratepayers in the next 12 months. | |||
[6] | $9,989 and $13,826 are included in Other Current Assets on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively, since such amounts are expected to be recovered from ratepayers in the next 12 months. $4,853 and $5,608 are included in Other Regulatory Assets on the Consolidated Balance Sheets at September 30, 2014 and 2013, respectively. |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Taxes [Line Items] | ' | ' | ' |
Tax benefit recorded from exercise of stock options | $4,600,000 | $700,000 | $1,000,000 |
Tax benefit not realized due to tax loss carryforwards | 34,200,000 | 34,200,000 | ' |
Taxes Refundable to Customers | 91,736,000 | 85,655,000 | ' |
Recoverable Future Taxes | 163,485,000 | 163,355,000 | ' |
Tax Credit Carryforwards | 36,000,000 | ' | ' |
Federal net operating loss, certain annual limitations | 10,000,000 | ' | ' |
Federal net operating loss, excess tax deductions related to stock based compensation | 87,000,000 | ' | ' |
Tax benefit from change in enacted rate | -26,272,000 | -37,569,000 | -32,974,000 |
Deferred Income Taxes [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Taxes Refundable to Customers | 91,736,000 | 85,655,000 | ' |
Recoverable Future Taxes | 163,485,000 | 163,355,000 | ' |
Regulatory liabilities | 52,600,000 | 52,600,000 | ' |
Regulatory assets | 85,300,000 | 82,500,000 | ' |
Pennsylvania [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss | 297,000,000 | ' | ' |
California [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss | 183,000,000 | ' | ' |
New York [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss | 103,000,000 | ' | ' |
Federal [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Net operating loss | 367,000,000 | ' | ' |
State Tax Law Change [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Tax benefit from change in enacted rate | $2,800,000 | ' | ' |
New York [Member] | State and Local Jurisdiction [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Corporate Tax Rate | 7.10% | ' | ' |
Effective January 1, 2016 [Member] | New York [Member] | State and Local Jurisdiction [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Corporate Tax Rate | 6.50% | ' | ' |
Income_Taxes_Components_Of_Fed
Income Taxes (Components Of Federal And State Income Taxes Included In The Consolidated Statements Of Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Current Income Taxes [Abstract] | ' | ' | ' |
Federal | $34,579 | ($632) | ($8) |
State | 12,620 | 5,503 | 6,412 |
Deferred Income Taxes [Abstract] | ' | ' | ' |
Federal | 116,143 | 130,318 | 111,176 |
State | 26,272 | 37,569 | 32,974 |
Income Tax Expense | 189,614 | 172,758 | 150,554 |
Deferred Investment Tax Credit | -434 | -426 | -581 |
Total Income Taxes | 189,180 | 172,332 | 149,973 |
Presented as Follows [Abstract] | ' | ' | ' |
Other Income | -434 | -426 | -581 |
Income Tax Expense | $189,614 | $172,758 | $150,554 |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Tax Reconciliation By Applying Federal Income Tax Rate) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. Income Before Income Taxes | $488,593 | $432,333 | $370,050 |
Income Tax Expense, Computed at U.S. Federal Statutory Rate of 35% | 171,008 | 151,317 | 129,518 |
Increase (Reduction) in Taxes Resulting from State Income Taxes | 25,280 | 27,997 | 25,601 |
Increase (Reduction) in Taxes Resulting From Miscellaneous | -7,108 | -6,982 | -5,146 |
Total Income Taxes | $189,180 | $172,332 | $149,973 |
Federal Statutory Rate | 35.00% | 35.00% | 35.00% |
Income_Taxes_Significant_Compo
Income Taxes (Significant Components Of Deferred Tax Liabilities And Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Property, Plant and Equipment | $1,614,515 | $1,504,187 |
Pension and Other Post-Retirement Benefit Costs | 113,248 | 124,021 |
Other | 87,935 | 75,419 |
Total Deferred Tax Liabilities | 1,815,698 | 1,703,627 |
Pension and Other Post-Retirement Benefit Costs | -124,452 | -130,256 |
Tax Loss Carryforwards | -171,423 | -215,262 |
Other | -103,863 | -90,461 |
Total Deferred Tax Assets | -399,738 | -435,979 |
Total Net Deferred Income Taxes | 1,415,960 | 1,267,648 |
Deferred Tax Liability/(Asset) - Current | -40,323 | -79,359 |
Deferred Tax Liability - Non-Current | $1,456,283 | $1,347,007 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of The Change In Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Balance at Beginning of Year | $2,001 | $11,170 | $7,766 |
Additions for Tax Positions Related to Current Year | 0 | 700 | 1,600 |
Additions for Tax Positions of Prior Years | 2,447 | 164 | 2,751 |
Reductions for Tax Positions of Prior Years | -1,301 | -10,033 | -947 |
Balance at End of Year | $3,147 | $2,001 | $11,170 |
Capitalization_And_ShortTerm_B2
Capitalization And Short-Term Borrowings (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2013 | Feb. 15, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Stock Options And SARs [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Right [Member] | Stock Appreciation Right [Member] | Stock Appreciation Right [Member] | Restricted Share Awards [Member] | Restricted Share Awards [Member] | Restricted Share Awards [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Performance Based Restricted Stock Units (RSUs) [Member] | Performance Based Restricted Stock Units (RSUs) [Member] | Performance Based Restricted Stock Units (RSUs) [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock [Member] | 5.25% Notes Due March 2013 [Member] | 3.75% Notes Due In March 1, 2023 [Member] | Indenture From 1974 [Member] | Commercial Paper [Member] | 2015 [Member] | 2015 [Member] | 2016 [Member] | 2016 [Member] | 2016 [Member] | 2017 [Member] | 2017 [Member] | 2018 [Member] | 2018 [Member] | 2019 [Member] | 2021 [Member] | Board Of Directors [Member] | ||||
Restricted Share Awards [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Restricted Share Awards [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Performance Based Restricted Stock Units (RSUs) [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Performance Shares [Member] | Restricted Share Awards [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Non-Performance Based Restricted Stock Units (RSUs) [Member] | Restricted Share Awards [Member] | |||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue shares of common stock for the Direct Stock Purchase and Dividend Reinvestment Plan | 93,731 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued for 401(k) plans | 69,729 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares issued due to stock option and SARs exercises | -321,500 | ' | ' | 433,602 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,432 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,412 |
Shares tendered | 126,321 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Forfeited | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 3,334 | ' | ' | 8,700 | ' | ' | 21,728 | ' | ' | 17,624 | ' | ' | ' | 3,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting power | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of assets or earning power that are sold or transferred | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity redemption price per share | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Voting power percentage to redeem rights | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rights expiration date | 31-Jul-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-Based Payment Expense | $10,500,000 | $11,500,000 | $7,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit related to stock-based compensation expense | 4,300,000 | 4,600,000 | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized stock-based compensation costs | 100,000 | 100,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit realized from exercise of stock-based compensation | 3,100,000 | 3,600,000 | 14,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit recorded from exercise of stock-based compensation | 4,600,000 | 700,000 | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options, exercises in period, total intrinsic value | ' | ' | ' | ' | 13,700,000 | 11,600,000 | 13,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Stock Options Exercised | ' | ' | ' | ' | 7,400,000 | 2,600,000 | 7,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Granted | ' | ' | ' | ' | ' | ' | ' | 0 | 412,970 | 166,000 | ' | ' | ' | 0 | 0 | 41,525 | 82,151 | 44,200 | 68,450 | 0 | 255,604 | 0 | 116,090 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Fair Value per Award Granted | ' | ' | ' | ' | ' | ' | ' | ' | $10.66 | $11.20 | ' | ' | ' | $0 | ' | $55.09 | $65.24 | $51.11 | $47.10 | $0 | $49.51 | ' | $67.16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of SAR's exercised | ' | ' | ' | ' | ' | ' | ' | 8,400,000 | 800,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Awards Vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 323,188 | 287,168 | 435,169 | 34,601 | ' | ' | 12,432 | ' | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity instruments other than options, vested in period, total fair value | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | 3,600,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | 1,300,000 | ' | ' | 5,400,000 | ' | ' | 3,100,000 | ' | ' | 4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense recognized weighted average period | ' | ' | ' | ' | ' | ' | ' | '8 months 0 days | ' | ' | ' | ' | ' | '2 years 8 months 6 days | ' | ' | '1 year 8 months 15 days | ' | ' | '1 year 0 months | ' | ' | '1 year 6 months 0 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested stock-based compensation lapse | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,518 | 49,340 | 5,000 | 61,534 | 233,876 | 59,893 | 98,466 | 35,000 | 22,967 | 10,785 | 20,000 | ' |
Carrying Amount | 1,649,000,000 | 1,649,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Long-Term Debt issued under 1974 Indenture | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.25% | 3.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amounts of long-term debt maturing in 2015 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amounts of long-term debt maturing in 2016 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amounts of long-term debt maturing in 2017 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amounts of long-term debt maturing in 2018 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amounts of long-term debt maturing in 2019 | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amounts of long-term debt maturing after 2019 | 1,099,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial paper available | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | 750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial paper, outstanding | 85,600,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.31% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Expiration Date | 6-Jan-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term notes payable outstanding | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Committed credit facility debt to capitalization ratio | 0.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt to capitalization ratio | 0.42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional borrowing | 2,740,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum debt increase under existing indenture covenants | 1,920,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregated indebtedness | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from issuance of long-term debt | 0 | 495,415,000 | 496,085,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 495,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current portion of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock par value | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Committed credit facility, outstanding amount | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalization_And_ShortTerm_B3
Capitalization And Short-Term Borrowings (Summary Of Changes In Common Stock Equity) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||||
Schedule of Capitalization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Beginning balance (shares) | ' | ' | ' | 83,661,969 | ' | ' | ' | ' | 83,661,969 | ' | ' | ||||||
Beginning balance | ' | ' | ' | $687,684,000 | ' | ' | ' | ' | $687,684,000 | ' | ' | ||||||
Balance at Beginning of Year | ' | ' | ' | 1,442,617,000 | ' | ' | ' | 1,306,284,000 | 1,442,617,000 | 1,306,284,000 | 1,206,022,000 | ||||||
Beginning balance | ' | ' | ' | -19,234,000 | ' | ' | ' | ' | -19,234,000 | ' | ' | ||||||
Net Income Available for Common Stock | 57,431,000 | 64,520,000 | 95,210,000 | [1] | 82,252,000 | 47,842,000 | [2] | 58,495,000 | 85,720,000 | 67,944,000 | 299,413,000 | 260,001,000 | 220,077,000 | ||||
Dividends Declared on Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | -127,669,000 | -123,668,000 | -119,815,000 | ||||||
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 15,255,000 | 79,786,000 | -51,321,000 | ||||||
Share-Based Payment Expense | ' | ' | ' | ' | ' | ' | ' | ' | 10,500,000 | 11,500,000 | 7,200,000 | ||||||
Ending balance (Shares) | 84,157,220 | ' | ' | ' | 83,661,969 | ' | ' | ' | 84,157,220 | 83,661,969 | ' | ||||||
Ending balance | 716,144,000 | ' | ' | ' | 687,684,000 | ' | ' | ' | 716,144,000 | 687,684,000 | ' | ||||||
Balance at End of Year | 1,614,361,000 | ' | ' | ' | 1,442,617,000 | ' | ' | ' | 1,614,361,000 | 1,442,617,000 | 1,306,284,000 | ||||||
Ending balance | -3,979,000 | ' | ' | ' | -19,234,000 | ' | ' | ' | -3,979,000 | -19,234,000 | ' | ||||||
Tax benefits related to stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 4,641,000 | 675,000 | 985,000 | ||||||
Dividend per share | ' | ' | ' | ' | ' | ' | ' | ' | $1.52 | $1.48 | $1.44 | ||||||
Accumulated earnings free from limitations | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | 1,500,000,000 | ' | ' | ||||||
Common Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Schedule of Capitalization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Beginning balance (shares) | ' | ' | ' | 83,662,000 | ' | ' | ' | 83,330,000 | 83,662,000 | 83,330,000 | 82,813,000 | ||||||
Beginning balance (value) | ' | ' | ' | 83,662,000 | ' | ' | ' | 83,330,000 | 83,662,000 | 83,330,000 | 82,813,000 | ||||||
Common Stock Issued Under Stock and Benefit Plans (Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 495,000 | [3] | 332,000 | [3] | 517,000 | [3] | |||
Common Stock Issued Under Stock and Benefit Plans (Value) | ' | ' | ' | ' | ' | ' | ' | ' | 495,000 | [3] | 332,000 | [3] | 517,000 | [3] | |||
Ending balance (Shares) | 84,157,000 | ' | ' | ' | 83,662,000 | ' | ' | ' | 84,157,000 | 83,662,000 | 83,330,000 | ||||||
Ending balance (Value) | 84,157,000 | ' | ' | ' | 83,662,000 | ' | ' | ' | 84,157,000 | 83,662,000 | 83,330,000 | ||||||
Paid In Capital [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Schedule of Capitalization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Beginning balance | ' | ' | ' | 687,684,000 | ' | ' | ' | 669,501,000 | 687,684,000 | 669,501,000 | 650,749,000 | ||||||
Share-Based Payment Expense | ' | ' | ' | ' | ' | ' | ' | ' | 10,654,000 | [4] | 11,537,000 | [4] | 7,156,000 | [4] | |||
Common Stock Issued Under Stock and Benefit Plans (Value) | ' | ' | ' | ' | ' | ' | ' | ' | 17,806,000 | [3] | 6,646,000 | [3] | 11,596,000 | [3] | |||
Ending balance | 716,144,000 | ' | ' | ' | 687,684,000 | ' | ' | ' | 716,144,000 | 687,684,000 | 669,501,000 | ||||||
Earnings Reinvested In The Business [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Schedule of Capitalization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Balance at Beginning of Year | ' | ' | ' | 1,442,617,000 | ' | ' | ' | 1,306,284,000 | 1,442,617,000 | 1,306,284,000 | 1,206,022,000 | ||||||
Net Income Available for Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | 299,413,000 | 260,001,000 | 220,077,000 | ||||||
Dividends Declared on Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | -127,669,000 | -123,668,000 | -119,815,000 | ||||||
Balance at End of Year | 1,614,361,000 | [5] | ' | ' | ' | 1,442,617,000 | ' | ' | ' | 1,614,361,000 | [5] | 1,442,617,000 | 1,306,284,000 | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Schedule of Capitalization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Beginning balance | ' | ' | ' | -19,234,000 | ' | ' | ' | -99,020,000 | -19,234,000 | -99,020,000 | -47,699,000 | ||||||
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | ' | ' | ' | ' | ' | 15,255,000 | 79,786,000 | -51,321,000 | ||||||
Ending balance | ($3,979,000) | ' | ' | ' | ($19,234,000) | ' | ' | ' | ($3,979,000) | ($19,234,000) | ($99,020,000) | ||||||
[1] | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | ||||||||||||||||
[2] | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. | ||||||||||||||||
[3] | Paid in Capital includes tax benefits of $4.6 million, $0.7 million and $1.0 million for September 30, 2014, 2013 and 2012, respectively, related to stock-based compensation. | ||||||||||||||||
[4] | Paid in Capital includes compensation costs associated with stock option, SARs, performance share and/or restricted stock awards. The expense is included within Net Income Available For Common Stock, net of tax benefits. | ||||||||||||||||
[5] | The availability of consolidated earnings reinvested in the business for dividends payable in cash is limited under terms of the indentures covering long-term debt. At September 30, 2014, $1.5 billion of accumulated earnings was free of such limitations. |
Capitalization_And_ShortTerm_B4
Capitalization And Short-Term Borrowings (Schedule Of Share-Based Compensation For Stock Options And Share Awards) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Schedule of Capitalization [Line Items] | ' | ' | ' | |
Number of Shares Outstanding, Beginning of Year | 803,500 | ' | ' | |
Number of Shares Granted | 0 | ' | ' | |
Number of Shares Exercised | -321,500 | ' | ' | |
Number of Shares Forfeited | 0 | ' | ' | |
Number of Shares Outstanding, End of Year | 482,000 | ' | ' | |
Number of Option shares exercisable | 482,000 | ' | ' | |
Number of Shares Subject to Option, Option shares available for future grant | 712,232 | [1] | ' | ' |
Weighted Average Exercise Price, Outstanding Beginning of Year | $34.71 | ' | ' | |
Weighted Average Exercise Price, Granted | $0 | ' | ' | |
Weighted Average Exercise Price, Exercised | $31.71 | ' | ' | |
Weighted Average Exercise Price, Forfeited | $0 | ' | ' | |
Weighted Average Exercise Price, Outstanding End of Year | $36.71 | ' | ' | |
Weighted Average Exercise Price, Option shares exercisable | $36.71 | ' | ' | |
Weighted Average Remaining Contractual Life, Outstanding | '1 year 9 months 20 days | ' | ' | |
Weighted Average Remaining Contractual Life, Option shares exercisable | '1 year 9 months 20 days | ' | ' | |
Aggregate Intrinsic Value Outstanding | $16,039 | ' | ' | |
Aggregate Intrinsic Value, Option Shares exercisable | 16,039 | ' | ' | |
Performance Shares [Member] | ' | ' | ' | |
Schedule of Capitalization [Line Items] | ' | ' | ' | |
Number of Shares Outstanding, Beginning of Year | 0 | ' | ' | |
Number of Shares Granted | 116,090 | 0 | 0 | |
Number of Awards Vested | 0 | ' | ' | |
Number of Shares Forfeited | -17,624 | ' | ' | |
Number of Shares Outstanding, End of Year | 98,466 | 0 | ' | |
Weighted Average Fair Value per Award, Beginning of Year | $0 | ' | ' | |
Weighted Average Fair Value per Award Granted | $67.16 | ' | ' | |
Weighted Average Fair Value per Award Vested | $0 | ' | ' | |
Weighted Average Fair Value per Award Forfeited | $67.16 | ' | ' | |
Weighted Average Fair Value per Award, End of Year | $67.16 | $0 | ' | |
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' | |
Schedule of Capitalization [Line Items] | ' | ' | ' | |
Number of Shares Outstanding, Beginning of Year | 2,002,704 | ' | ' | |
Number of Shares Granted | 0 | 412,970 | 166,000 | |
Number of Shares Exercised | -209,222 | ' | ' | |
Number of Shares Forfeited | 0 | ' | ' | |
Number of Shares Cancelled | 0 | ' | ' | |
Number of Shares Outstanding, End of Year | 1,793,482 | 2,002,704 | ' | |
Number of SARs exercisable | 1,434,023 | ' | ' | |
Weighted Average Exercise Price, Outstanding Beginning of Year | $48.11 | $46.73 | ' | |
Weighted Average Exercise Price, Granted | $0 | ' | ' | |
Weighted Average Exercise Price, Exercised | $34.90 | ' | ' | |
Weighted Average Exercise Price, Forfeited | $0 | ' | ' | |
Weighted Average Exercise Price, Cancelled | $0 | ' | ' | |
Weighted Average Exercise Price, Outstanding End of Year | $48.11 | $46.73 | ' | |
Weighted Average Exercise Price, SARs exercisable | $46.65 | ' | ' | |
Weighted Average Remaining Contractual Life, Outstanding | '5 years 11 months 4 days | ' | ' | |
Weighted Average Remaining Contractual Life, SARs exercisable | '5 years 5 months 13 days | ' | ' | |
Aggregate Intrinsic Value Outstanding | 39,246 | ' | ' | |
Aggregate Intrinsic Value, SARs exercisable | $33,466 | ' | ' | |
Weighted Average Fair Value per Award Granted | ' | $10.66 | 11.2 | |
[1] | Includes shares available for SARs, restricted stock and performance share grants. |
Capitalization_And_ShortTerm_B5
Capitalization And Short-Term Borrowings (Schedule Of Share-Based Compensation For Restricted Stock Units) (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Restricted Share Awards [Member] | ' | ' | ' |
Schedule of Capitalization [Line Items] | ' | ' | ' |
Number of Shares Outstanding, Beginning of Year | 127,453 | ' | ' |
Number of Shares Granted | 0 | 0 | 41,525 |
Number of Awards Vested | -34,601 | ' | ' |
Number of Shares Forfeited | -3,334 | ' | ' |
Number of Shares Outstanding, End of Year | 89,518 | 127,453 | ' |
Weighted Average Fair Value per Award, Beginning of Year | $51.69 | ' | ' |
Weighted Average Fair Value per Award Granted | $0 | ' | $55.09 |
Weighted Average Fair Value per Award Vested | $58.17 | ' | ' |
Weighted Average Fair Value per Award Forfeited | $55.09 | ' | ' |
Weighted Average Fair Value per Award, End of Year | $49.05 | $51.69 | ' |
Non-Performance Based Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Schedule of Capitalization [Line Items] | ' | ' | ' |
Number of Shares Outstanding, Beginning of Year | 143,500 | ' | ' |
Number of Shares Granted | 82,151 | 44,200 | 68,450 |
Number of Awards Vested | -12,432 | ' | ' |
Number of Shares Forfeited | -8,700 | ' | ' |
Number of Shares Outstanding, End of Year | 204,519 | 143,500 | ' |
Weighted Average Fair Value per Award, Beginning of Year | $51.53 | ' | ' |
Weighted Average Fair Value per Award Granted | $65.24 | $51.11 | $47.10 |
Weighted Average Fair Value per Award Vested | $60.54 | ' | ' |
Weighted Average Fair Value per Award Forfeited | $54.53 | ' | ' |
Weighted Average Fair Value per Award, End of Year | $56.36 | $51.53 | ' |
Performance Based Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Schedule of Capitalization [Line Items] | ' | ' | ' |
Number of Shares Outstanding, Beginning of Year | 255,604 | ' | ' |
Number of Shares Granted | 0 | 255,604 | 0 |
Number of Awards Vested | 0 | ' | ' |
Number of Shares Forfeited | -21,728 | ' | ' |
Number of Shares Outstanding, End of Year | 233,876 | 255,604 | ' |
Weighted Average Fair Value per Award, Beginning of Year | $49.51 | ' | ' |
Weighted Average Fair Value per Award Granted | $0 | $49.51 | ' |
Weighted Average Fair Value per Award Vested | $0 | ' | ' |
Weighted Average Fair Value per Award Forfeited | $48.49 | ' | ' |
Weighted Average Fair Value per Award, End of Year | $49.61 | $49.51 | ' |
Capitalization_And_ShortTerm_B6
Capitalization And Short-Term Borrowings (Weighted Average Assumptions Used In Estimating Fair Value) (Details) | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |
Performance Shares [Member] | Stock Appreciation Rights (SARs) [Member] | Stock Appreciation Rights (SARs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Risk Free Interest Rate | 0.62% | 1.55% | 1.59% |
Expected Life (Years) | ' | '8 years 3 months | '8 years 3 months |
Remaining Term at Date of Grant (Years) | '2 years 9 months 12 days | ' | ' |
Expected Volatility | 28.30% | 25.61% | 24.97% |
Expected Dividend Yield (Quarterly) | ' | 0.69% | 0.64% |
Capitalization_And_ShortTerm_B7
Capitalization And Short-Term Borrowings (Schedule Of Long-Term Debt) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | ||
Debt Instrument [Line Items] | ' | ' | ||
Total Long-Term Debt | $1,649,000 | $1,649,000 | ||
Less Current Portion | 0 | [1] | 0 | [1] |
Long-term debt, excluding current portion | 1,649,000 | 1,649,000 | ||
7.4% Due March 2023 To June 2025 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt interest rate, minimum | 7.40% | ' | ||
Medium-Term Notes | 99,000 | [2] | 99,000 | [2] |
3.75% To 8.75% Due April 2018 To March 2023 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt interest rate, minimum | 3.75% | ' | ||
Debt interest rate, maximum | 8.75% | ' | ||
Notes | $1,550,000 | [2],[3] | $1,550,000 | [2],[3] |
Percentage of principal amount | 101.00% | 101.00% | ||
[1] | None of the Company’s long-term debt at September 30, 2014 and 2013 will mature within the following twelve-month period. | |||
[2] | The Medium-Term Notes and Notes are unsecured. | |||
[3] | The holders of these notes may require the Company to repurchase their notes at a price equal to 101% of the principal amount in the event of both a change in control and a ratings downgrade to a rating below investment grade. |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Hedging collateral deposits | $2,734,000 | [1] | $1,094,000 | [1] |
Assumed 12 month Midway Sunset Oil comparison to NYMEX | 98.20% | ' | ||
Assumed 12 month minimum Midway Sunset Oil comparison to NYMEX | 95.30% | ' | ||
Assumed 12 month maximum Midway Sunset Oil comparison to NYMEX | 100.60% | ' | ||
Fair value measured on recurring basis, net | 140,790,000 | [1] | 139,452,000 | [1] |
Benefit assets transferred | 0 | 0 | ||
Derivative Financial Instruments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Benefit assets transferred | 0 | 0 | ||
Sales of Derivative Financial Instruments | 0 | 0 | ||
Purchases of Derivative Financial Instruments | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Hedging collateral deposits | 2,734,000 | 1,094,000 | ||
Fair value measured on recurring basis, net | 68,994,000 | 92,024,000 | ||
Fair Value, Inputs, Level 1 [Member] | Futures [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Hedging collateral deposits | 2,700,000 | 1,100,000 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Hedging collateral deposits | 0 | 0 | ||
Fair value measured on recurring basis, net | 1,368,000 | -5,190,000 | ||
Fair Value, Inputs, Level 3 [Member] | Over The Counter Swaps - Oil [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value measured on recurring basis, net | 1,400,000 | ' | ||
Lower [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Midway Sunset Oil Comparison to NYMEX Sensitivity percentage points | 10.00% | ' | ||
Lower [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value of crude oil price swap sensitivity | 2,600,000 | ' | ||
Higher [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Midway Sunset Oil Comparison to NYMEX Sensitivity percentage points | 10.00% | ' | ||
Higher [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value of crude oil price swap sensitivity | ($1,200,000) | ' | ||
[1] | Netting Adjustments represent the impact of legally-enforceable master netting arrangements that allow the Company to net gain and loss positions held with the same counterparties. The net asset or net liability for each counterparty is recorded as an asset or liability on the Company’s balance sheet. |
Fair_Value_Measurements_Recurr
Fair Value Measurements (Recurring Fair Value Measures Of Assets And Liabilities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Cash Equivalents - Money Market Mutual Funds | $23,794,000 | [1] | $51,332,000 | [1] |
Hedging Collateral Deposits | 2,734,000 | [1] | 1,094,000 | [1] |
Total Assets | 141,549,000 | [1] | 140,091,000 | [1] |
Total Liabilities | 759,000 | [1] | 639,000 | [1] |
Total Net Assets/(Liabilities) | 140,790,000 | [1] | 139,452,000 | [1] |
Commodity Futures Contracts - Gas [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 738,000 | [1] | 911,000 | [1] |
Derivative Financial Instruments | 687,000 | [1] | 0 | [1] |
Over Counter Swaps Gas And Oil [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 71,868,000 | [1] | 48,067,000 | [1] |
Derivative Financial Instruments | 72,000 | [1] | 639,000 | [1] |
Balanced Equity Mutual Fund [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 35,331,000 | [1] | 31,813,000 | [1] |
Common Stock - Financial Services Industry [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 6,629,000 | [1] | 6,544,000 | [1] |
Other Common Stock [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 455,000 | [1] | 330,000 | [1] |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Cash Equivalents - Money Market Mutual Funds | 23,794,000 | 51,332,000 | ||
Hedging Collateral Deposits | 2,734,000 | 1,094,000 | ||
Total Assets | 71,668,000 | 93,665,000 | ||
Total Liabilities | 2,674,000 | 1,641,000 | ||
Total Net Assets/(Liabilities) | 68,994,000 | 92,024,000 | ||
Fair Value, Inputs, Level 1 [Member] | Commodity Futures Contracts - Gas [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 2,725,000 | 2,552,000 | ||
Derivative Financial Instruments | 2,674,000 | 1,641,000 | ||
Fair Value, Inputs, Level 1 [Member] | Over Counter Swaps Gas And Oil [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 0 | 0 | ||
Derivative Financial Instruments | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | Balanced Equity Mutual Fund [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 35,331,000 | 31,813,000 | ||
Fair Value, Inputs, Level 1 [Member] | Common Stock - Financial Services Industry [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 6,629,000 | 6,544,000 | ||
Fair Value, Inputs, Level 1 [Member] | Other Common Stock [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 455,000 | 330,000 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Cash Equivalents - Money Market Mutual Funds | 0 | 0 | ||
Hedging Collateral Deposits | 0 | 0 | ||
Total Assets | 75,951,000 | 57,070,000 | ||
Total Liabilities | 5,523,000 | 4,452,000 | ||
Total Net Assets/(Liabilities) | 70,428,000 | 52,618,000 | ||
Fair Value, Inputs, Level 2 [Member] | Commodity Futures Contracts - Gas [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 0 | 0 | ||
Derivative Financial Instruments | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Over Counter Swaps Gas And Oil [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 75,951,000 | 57,070,000 | ||
Derivative Financial Instruments | 5,523,000 | 4,452,000 | ||
Fair Value, Inputs, Level 2 [Member] | Balanced Equity Mutual Fund [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Common Stock - Financial Services Industry [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | Other Common Stock [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Cash Equivalents - Money Market Mutual Funds | 0 | 0 | ||
Hedging Collateral Deposits | 0 | 0 | ||
Total Assets | 1,368,000 | 0 | ||
Total Liabilities | 0 | 5,190,000 | ||
Total Net Assets/(Liabilities) | 1,368,000 | -5,190,000 | ||
Fair Value, Inputs, Level 3 [Member] | Commodity Futures Contracts - Gas [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 0 | 0 | ||
Derivative Financial Instruments | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Over Counter Swaps Gas And Oil [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | 1,368,000 | 0 | ||
Derivative Financial Instruments | 0 | 5,190,000 | ||
Fair Value, Inputs, Level 3 [Member] | Balanced Equity Mutual Fund [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Common Stock - Financial Services Industry [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | Other Common Stock [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | 0 | ||
Netting Adjustments [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Cash Equivalents - Money Market Mutual Funds | 0 | [1] | 0 | [1] |
Hedging Collateral Deposits | 0 | [1] | 0 | [1] |
Total Assets | -7,438,000 | [1] | -10,644,000 | [1] |
Total Liabilities | -7,438,000 | [1] | -10,644,000 | [1] |
Total Net Assets/(Liabilities) | 0 | [1] | 0 | [1] |
Netting Adjustments [Member] | Commodity Futures Contracts - Gas [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | -1,987,000 | [1] | -1,641,000 | [1] |
Derivative Financial Instruments | -1,987,000 | [1] | -1,641,000 | [1] |
Netting Adjustments [Member] | Over Counter Swaps Gas And Oil [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative Financial Instruments | -5,451,000 | [1] | -9,003,000 | [1] |
Derivative Financial Instruments | -5,451,000 | [1] | -9,003,000 | [1] |
Netting Adjustments [Member] | Balanced Equity Mutual Fund [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | [1] | 0 | [1] |
Netting Adjustments [Member] | Common Stock - Financial Services Industry [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | 0 | [1] | 0 | [1] |
Netting Adjustments [Member] | Other Common Stock [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Other Investments | $0 | [1] | $0 | [1] |
[1] | Netting Adjustments represent the impact of legally-enforceable master netting arrangements that allow the Company to net gain and loss positions held with the same counterparties. The net asset or net liability for each counterparty is recorded as an asset or liability on the Company’s balance sheet. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value Measurements Using Unobservable Inputs (Level 3)) (Details) (Derivative Financial Instruments [Member], USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | ||
Derivative Financial Instruments [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Balance, Beginning of Year | ($5,190) | [1] | ($19,664) | [1] |
Total Gains/Losses, Realized and Included in Earnings | 2,217 | [1],[2] | 13,408 | [1],[3] |
Total Gains/Losses, Unrealized and Included in Other Comprehensive Income (Loss) | 4,341 | [1] | 1,066 | [1] |
Transfer In/(Out) of Level 3 | 0 | [1] | 0 | [1] |
Balance, End of Year | $1,368 | [1] | ($5,190) | [1] |
[1] | Derivative Financial Instruments are shown on a net basis. | |||
[2] | Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the year ended September 30, 2014. | |||
[3] | Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the year ended September 30, 2013. |
Financial_Instruments_Narrativ
Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Cash Surrender Value of Life Insurance | $44,400,000 | $57,600,000 | ||
Net hedging gains (losses) in accumulated other comprehensive income (loss) | 76,100,000 | ' | ||
After tax net hedging gains (losses) in accumulated other comprehensive income (loss) | 43,700,000 | ' | ||
Pre-tax Net hedging gains (losses) reclassified within twelve months | 41,100,000 | ' | ||
After tax Net hedging gains (losses) reclassified within twelve months | 23,600,000 | ' | ||
Pre-Tax Net Hedging Gain (Losses) Reclassified After Twelve Months | 35,000,000 | ' | ||
After Tax Net Hedging Gains (Losses) Reclassified After Twelve Months | 20,100,000 | ' | ||
Number of counterparties in which the company holds over-the-counter swap positions | 16 | ' | ||
Number of counterparties in net gain position | 14 | ' | ||
Collateral Received from Counterparties by the Company | 0 | ' | ||
Fair market value of derivative asset with a credit-risk related contingency | 60,100,000 | ' | ||
Fair market value of derivative liability with a credit-risk related contingency | 100,000 | ' | ||
Hedging collateral deposits | 2,734,000 | [1] | 1,094,000 | [1] |
Equity Mutual Fund [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Fair value | 35,300,000 | 31,800,000 | ||
Gross unrealized gain | 8,400,000 | 5,700,000 | ||
Insurance Company Stock [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Fair value | 6,600,000 | 6,500,000 | ||
Gross unrealized gain | 4,500,000 | 4,100,000 | ||
Over-The-Counter Swap Position [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Credit risk exposure per counterparty | 5,100,000 | ' | ||
Maximum credit risk exposure per counterparty | 18,700,000 | ' | ||
Hedging collateral deposits | 0 | ' | ||
Over-The-Counter Swap Position [Member] | Credit Risk Related Contingency Feature [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Number of counterparties with a common credit-risk related contingency | 11 | ' | ||
Fixed Price Purchase Commitments MMCf [Member] | Energy Marketing [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk fair value hedge derivatives, natural gas | 200 | ' | ||
Exchange-Traded Futures Contracts [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Hedging collateral deposits | 2,700,000 | ' | ||
Fair Value Hedges MMCf [Member] | Energy Marketing [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk fair value hedge derivatives, natural gas | 16,100 | ' | ||
Fixed Price Sales Commitments MMCf [Member] | Energy Marketing [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk fair value hedge derivatives, natural gas | 15,800 | ' | ||
Fixed Price Commitments Related To Withdrawal Of Storage Gas MMCf [Member] | Energy Marketing [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk fair value hedge derivatives, natural gas | 100 | ' | ||
Over The Counter Swaps - Oil [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Derivative loss | ($100,000) | ($3,700,000) | ||
Cash Flow Hedges Short Position [Member] | Natural Gas MMCf [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk cash flow hedge derivatives, natural gas | 212,100 | ' | ||
Cash Flow Hedges Short Position [Member] | Crude Oil Bbls [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk cash flow hedge derivative, crude oil | 3,285,000 | ' | ||
Cash Flow Hedges Long Position [Member] | Natural Gas MMCf [Member] | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ||
Nonmonetary notional amount of price risk cash flow hedge derivatives, natural gas | 3,300 | ' | ||
[1] | Netting Adjustments represent the impact of legally-enforceable master netting arrangements that allow the Company to net gain and loss positions held with the same counterparties. The net asset or net liability for each counterparty is recorded as an asset or liability on the Company’s balance sheet. |
Financial_Instruments_LongTerm
Financial Instruments (Long-Term Debt) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financial Instruments, Owned, at Fair Value [Abstract] | ' | ' |
Carrying Amount | $1,649,000 | $1,649,000 |
Fair Value | $1,775,715 | $1,767,519 |
Financial_Instruments_Schedule
Financial Instruments (Schedule Of Derivatives Financial Instruments Designated And Qualifying As Cash Flow Hedges On The Statements Of Financial Performance) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Derivative Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on the Consolidated Statement of Comprehensive Income (Loss) (Effective Portion) | $5,334 | $91,790 | ($7,248) |
Amount of Derivative Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) on the Consolidated Balance Sheet into the Consolidated Statement of Income (Effective Portion) | -17,647 | 36,029 | ' |
Derivative Gain or (Loss) Recognized in the Consolidated Statement of Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 624 | -2,045 | ' |
Operating Revenues [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Derivative Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on the Consolidated Statement of Comprehensive Income (Loss) (Effective Portion) | 9,763 | 87,813 | ' |
Amount of Derivative Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) on the Consolidated Balance Sheet into the Consolidated Statement of Income (Effective Portion) | -14,880 | 36,949 | ' |
Derivative Gain or (Loss) Recognized in the Consolidated Statement of Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 624 | -2,045 | ' |
Purchased Gas [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Amount of Derivative Gain or (Loss) Recognized in Other Comprehensive Income (Loss) on the Consolidated Statement of Comprehensive Income (Loss) (Effective Portion) | -4,429 | 3,977 | ' |
Amount of Derivative Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) on the Consolidated Balance Sheet into the Consolidated Statement of Income (Effective Portion) | -2,767 | -920 | ' |
Derivative Gain or (Loss) Recognized in the Consolidated Statement of Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) | $0 | $0 | ' |
Financial_Instruments_Schedule1
Financial Instruments (Schedule Of Derivatives And Hedged Items In Fair Value Hedging Relationships) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Derivative Instruments, Gain (Loss) [Line Items] | ' |
Amount of Gain or (Loss) on Derivative Recognized in the Consolidated Statement of Income | $122 |
Amount of Gain or (Loss) on Hedged Item Recognized in the Consolidated Statement of Income | -122 |
Operating Revenues [Member] | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' |
Amount of Gain or (Loss) on Derivative Recognized in the Consolidated Statement of Income | 696 |
Amount of Gain or (Loss) on Hedged Item Recognized in the Consolidated Statement of Income | -696 |
Purchased Gas [Member] | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' |
Amount of Gain or (Loss) on Derivative Recognized in the Consolidated Statement of Income | -574 |
Amount of Gain or (Loss) on Hedged Item Recognized in the Consolidated Statement of Income | $574 |
Retirement_Plan_And_Other_Post2
Retirement Plan And Other Post-Retirement Benefits (Narrative) (Details) (USD $) | 12 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Decrease to accumulated other comprehensive loss | ($27,105,000) | ($132,024,000) | $86,676,000 | ' |
Expected future benefit payments in year one | 59,400,000 | ' | ' | ' |
Expected future benefit payments in year two | 60,400,000 | ' | ' | ' |
Expected future benefit payments in year three | 61,300,000 | ' | ' | ' |
Expected future benefit payments in year four | 62,200,000 | ' | ' | ' |
Expected future benefit payments in year five | 62,900,000 | ' | ' | ' |
Expected future benefit payments in five years thereafter | 326,200,000 | ' | ' | ' |
Effect of one percentage point increase on accumulated postretirement benefit obligation | 53,000,000 | ' | ' | ' |
Effect of one percentage point increase on service and interest cost components | 3,300,000 | ' | ' | ' |
Effect of one percentage point decrease on accumulated postretirement benefit obligation | 44,600,000 | ' | ' | ' |
Effect of one percentage point decrease on service and interest cost components | 2,800,000 | ' | ' | ' |
Benefit assets transferred | 0 | 0 | ' | ' |
Benefit assets transferred in/out of Level 3 | 0 | 0 | ' | ' |
Retirement Savings Account [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Costs Recognized | 1,900,000 | 1,200,000 | 900,000 | ' |
Tax-Deferred Savings Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Costs Recognized | 5,200,000 | 4,400,000 | 4,300,000 | ' |
Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Net periodic benefit cost | 39,955,000 | 37,606,000 | 29,011,000 | ' |
Accumulated benefit obligation | 940,068,000 | 886,942,000 | 986,223,000 | ' |
Benefit obligation | 999,499,000 | 946,305,000 | 1,070,744,000 | 949,777,000 |
Discount rate | 4.25% | 4.75% | 3.50% | ' |
Rate of compensation increase | 4.75% | 4.75% | 4.75% | ' |
Employer Contributions | 33,500,000 | 54,000,000 | 44,022,000 | ' |
Expected long term rate of return on plan assets | 8.00% | 8.00% | 8.25% | ' |
Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Net periodic benefit cost | 10,593,000 | 21,651,000 | 24,451,000 | ' |
Benefit obligation | 465,583,000 | 460,634,000 | 561,263,000 | 485,452,000 |
Discount rate | 4.25% | 4.75% | 3.50% | ' |
Rate of compensation increase | 4.75% | 4.75% | 4.75% | ' |
Employer Contributions | 2,115,000 | 18,160,000 | 21,348,000 | ' |
Expected future benefit payments in year one | 25,594,000 | ' | ' | ' |
Expected future benefit payments in year two | 26,909,000 | ' | ' | ' |
Expected future benefit payments in year three | 28,113,000 | ' | ' | ' |
Expected future benefit payments in year four | 29,226,000 | ' | ' | ' |
Expected future benefit payments in year five | 30,173,000 | ' | ' | ' |
Expected future benefit payments in five years thereafter | 163,470,000 | ' | ' | ' |
Expected long term rate of return on plan assets | 8.00% | 8.00% | 8.25% | ' |
Non-Qualified Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Net periodic benefit cost | 7,500,000 | 9,600,000 | 9,100,000 | ' |
Accumulated benefit obligation | 65,700,000 | 57,200,000 | 54,500,000 | ' |
Benefit obligation | 85,500,000 | 77,100,000 | 88,500,000 | ' |
Discount rate | 3.50% | 3.75% | 2.50% | ' |
Rate of compensation increase | 7.50% | 7.75% | 7.75% | ' |
VEBA Trusts And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Employer Contributions | 2,000,000 | ' | ' | ' |
Other Than Veba Trust And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Employer Contributions | 100,000 | ' | ' | ' |
Retirement Plan And Other Post-Retirement Benefit Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Discount rate | 4.25% | ' | ' | ' |
Non-Qualified Benefit Plans, Other Post-Retirement Benefit Plan And Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Decrease in other regulatory assets | 19,200,000 | ' | ' | ' |
Decrease to accumulated other comprehensive loss | 900,000 | ' | ' | ' |
Equity Securities [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Target allocation, minimum | 40.00% | ' | ' | ' |
Target allocation, maximum | 60.00% | ' | ' | ' |
Equity Securities [Member] | VEBA Trusts And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Target allocation, minimum | 40.00% | ' | ' | ' |
Target allocation, maximum | 60.00% | ' | ' | ' |
Fixed Income Funds [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Target allocation, minimum | 35.00% | ' | ' | ' |
Target allocation, maximum | 55.00% | ' | ' | ' |
Fixed Income Funds [Member] | VEBA Trusts And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Target allocation, minimum | 40.00% | ' | ' | ' |
Target allocation, maximum | 60.00% | ' | ' | ' |
Other Securities [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Target allocation, minimum | 5.00% | ' | ' | ' |
Target allocation, maximum | 20.00% | ' | ' | ' |
Other Securities [Member] | VEBA Trusts And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Target allocation, minimum | 0.00% | ' | ' | ' |
Target allocation, maximum | 15.00% | ' | ' | ' |
Actuarial Experience [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Increase (decrease) in benefit obligation | 200,000 | ' | ' | ' |
Actuarial Experience [Member] | Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Increase (decrease) in benefit obligation | -25,300,000 | -28,600,000 | 6,100,000 | ' |
Discount Rate Change [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Increase (decrease) in benefit obligation | 53,700,000 | -147,900,000 | 118,800,000 | ' |
Discount Rate Change [Member] | Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Increase (decrease) in benefit obligation | 26,400,000 | -75,900,000 | 65,600,000 | ' |
Minimum [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Estimated future employer contributions in next fiscal year | 15,000,000 | ' | ' | ' |
Minimum [Member] | VEBA Trusts And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Estimated future employer contributions in next fiscal year | 2,000,000 | ' | ' | ' |
Maximum [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Estimated future employer contributions in next fiscal year | 25,000,000 | ' | ' | ' |
Maximum [Member] | VEBA Trusts And 401(h) Accounts [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Estimated future employer contributions in next fiscal year | $5,000,000 | ' | ' | ' |
Effective Fiscal 2015 [Member] | Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Expected long term rate of return on plan assets | 7.50% | ' | ' | ' |
Effective Fiscal 2015 [Member] | Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Expected long term rate of return on plan assets | 7.00% | ' | ' | ' |
Retirement_Plan_And_Other_Post3
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Benefit Obligations, Plan Assets And Funded Status) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |||
Non-Current Assets | $36,512 | $22,774 | ' | |||
Amortization period | '10 years | ' | ' | |||
Retirement Plan [Member] | ' | ' | ' | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |||
Benefit Obligation at Beginning of Period | 946,305 | 1,070,744 | 949,777 | |||
Service Cost | 11,987 | 15,846 | 14,202 | |||
Interest Cost | 43,574 | 36,498 | 41,526 | |||
Plan Participants' Contributions | 0 | 0 | 0 | |||
Retiree Drug Subsidy Receipts | 0 | 0 | 0 | |||
Actuarial (Gain) Loss | 53,887 | -121,631 | 120,338 | |||
Benefits Paid | -56,254 | -55,152 | -55,099 | |||
Benefit Obligation at End of Period | 999,499 | 946,305 | 1,070,744 | |||
Fair Value of Assets at Beginning of Period | 799,307 | 701,676 | 601,719 | |||
Actual Return on Plan Assets | 93,238 | 98,783 | 111,034 | |||
Employer Contributions | 33,500 | 54,000 | 44,022 | |||
Fair Value of Assets at End of Period | 869,791 | 799,307 | 701,676 | |||
Net Amount Recognized at End of Period (Funded Status) | -129,708 | -146,998 | -369,068 | |||
Non-Current Liabilities | -129,708 | -146,998 | -369,068 | |||
Non-Current Assets | 0 | 0 | 0 | |||
Accumulated Benefit Obligation | 940,068 | 886,942 | 986,223 | |||
Discount Rate | 4.25% | 4.75% | 3.50% | |||
Rate of Compensation Increase | 4.75% | 4.75% | 4.75% | |||
Expected Return on Plan Assets | -59,974 | -57,346 | -59,701 | |||
Amortization of Prior Service Cost (Credit) | 210 | 238 | 269 | |||
Amortization of Transition Amount | 0 | 0 | 0 | |||
Recognition of Actuarial Loss | 36,007 | [1] | 52,776 | [1] | 39,615 | [1] |
Net Amortization and Deferral for Regulatory Purposes | 8,151 | -10,406 | -6,900 | |||
Net Periodic Benefit Cost | 39,955 | 37,606 | 29,011 | |||
Discount Rate | 4.75% | 3.50% | 4.50% | |||
Expected Return on Plan Assets | 8.00% | 8.00% | 8.25% | |||
Rate of Compensation Increase | 4.75% | 4.75% | 4.75% | |||
Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | |||
Benefit Obligation at Beginning of Period | 460,634 | 561,263 | 485,452 | |||
Service Cost | 2,939 | 4,705 | 4,016 | |||
Interest Cost | 21,308 | 19,212 | 21,315 | |||
Plan Participants' Contributions | 2,265 | 2,141 | 1,956 | |||
Retiree Drug Subsidy Receipts | 1,419 | 1,526 | 1,528 | |||
Actuarial (Gain) Loss | 1,087 | -104,455 | 71,708 | |||
Benefits Paid | -24,069 | -23,758 | -24,712 | |||
Benefit Obligation at End of Period | 465,583 | 460,634 | 561,263 | |||
Fair Value of Assets at Beginning of Period | 472,392 | 414,134 | 351,990 | |||
Actual Return on Plan Assets | 44,898 | 61,715 | 63,552 | |||
Employer Contributions | 2,115 | 18,160 | 21,348 | |||
Fair Value of Assets at End of Period | 497,601 | 472,392 | 414,134 | |||
Net Amount Recognized at End of Period (Funded Status) | 32,018 | 11,758 | -147,129 | |||
Non-Current Liabilities | -4,494 | -11,016 | -147,129 | |||
Non-Current Assets | 36,512 | 22,774 | 0 | |||
Discount Rate | 4.25% | 4.75% | 3.50% | |||
Rate of Compensation Increase | 4.75% | 4.75% | 4.75% | |||
Expected Return on Plan Assets | -37,424 | -32,872 | -28,971 | |||
Amortization of Prior Service Cost (Credit) | -2,138 | -2,138 | -2,138 | |||
Amortization of Transition Amount | 0 | 8 | 10 | |||
Recognition of Actuarial Loss | 2,645 | [1] | 20,892 | [1] | 24,057 | [1] |
Net Amortization and Deferral for Regulatory Purposes | 23,263 | 11,844 | 6,162 | |||
Net Periodic Benefit Cost | $10,593 | $21,651 | $24,451 | |||
Discount Rate | 4.75% | 3.50% | 4.50% | |||
Expected Return on Plan Assets | 8.00% | 8.00% | 8.25% | |||
Rate of Compensation Increase | 4.75% | 4.75% | 4.75% | |||
[1] | Distribution Corporation’s New York jurisdiction calculates the amortization of the actuarial loss on a vintage year basis over 10 years, as mandated by the NYPSC. All the other subsidiaries of the Company utilize the corridor approach. |
Retirement_Plan_And_Other_Post4
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Cumulative Amounts Recognized In AOCI (Loss) And Regulatory Assets And Liabilities) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | |
Retirement Plan [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Net Actuarial Loss | ($226,897) | [1] |
Prior Service (Cost) Credit | -856 | [1] |
Net Amount Recognized | -227,753 | [1] |
Decrease (Increase) in Actuarial Loss, excluding amortization | -20,622 | [1],[2] |
Change due to Amortization of Actuarial Loss | 36,007 | [1] |
Prior Service (Cost) Credit | 210 | [1] |
Net Change | 15,595 | [1] |
Net Actuarial Loss | -36,129 | [1] |
Prior Service (Cost) Credit | -183 | [1] |
Net Amount Expected to be Recognized | -36,312 | [1] |
Other Post-Retirement Benefit Plans [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Net Actuarial Loss | -32,082 | [1] |
Prior Service (Cost) Credit | 6,940 | [1] |
Net Amount Recognized | -25,142 | [1] |
Decrease (Increase) in Actuarial Loss, excluding amortization | 6,387 | [1],[2] |
Change due to Amortization of Actuarial Loss | 2,645 | [1] |
Prior Service (Cost) Credit | -2,138 | [1] |
Net Change | 6,894 | [1] |
Net Actuarial Loss | -4,148 | [1] |
Prior Service (Cost) Credit | 1,913 | [1] |
Net Amount Expected to be Recognized | -2,235 | [1] |
Non Qualified Benefit Plans [Member] | ' | |
Defined Benefit Plan Disclosure [Line Items] | ' | |
Net Actuarial Loss | -23,532 | [1] |
Prior Service (Cost) Credit | 0 | [1] |
Net Amount Recognized | -23,532 | [1] |
Decrease (Increase) in Actuarial Loss, excluding amortization | -5,424 | [1],[2] |
Change due to Amortization of Actuarial Loss | 3,008 | [1] |
Prior Service (Cost) Credit | 0 | [1] |
Net Change | -2,416 | [1] |
Net Actuarial Loss | -2,925 | [1] |
Prior Service (Cost) Credit | 0 | [1] |
Net Amount Expected to be Recognized | ($2,925) | [1] |
[1] | Amounts presented are shown before recognizing deferred taxes. | |
[2] | Amounts presented include the impact of actuarial gains/losses related to return on assets, as well as the Actuarial (Gain) Loss amounts presented in the Change in Benefit Obligation. |
Retirement_Plan_And_Other_Post5
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Expected Benefit Payments) (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 - Benefit Payments | $59,400 |
2016 - Benefit Payments | 60,400 |
2017 - Benefit Payments | 61,300 |
2018 - Benefit Payments | 62,200 |
2019 - Benefit Payments | 62,900 |
2020 through 2024 - Benefit Payments | 326,200 |
Other Post-Retirement Benefit Plans [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 - Benefit Payments | 25,594 |
2015 - Subsidy Receipts | -1,955 |
2016 - Benefit Payments | 26,909 |
2016 - Subsidy Receipts | -2,143 |
2017 - Benefit Payments | 28,113 |
2017 - Subsidy Receipts | -2,323 |
2018 - Benefit Payments | 29,226 |
2018 - Subsidy Receipts | -2,511 |
2019 - Benefit Payments | 30,173 |
2019 - Subsidy Receipts | -2,708 |
2020 through 2024 - Benefit Payments | 163,470 |
2020 through 2024 - Subsidy Receipts | ($16,104) |
Retirement_Plan_And_Other_Post6
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Health Care Cost Trend Rates) (Details) | 12 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | |||
Rate of Increase for Pre Age 65 Participants | 7.10% | [1] | 7.28% | [1] | 7.46% | [1] |
Rate of Increase for Post Age 65 Participants | 6.73% | [1] | 6.78% | [1] | 6.84% | [1] |
Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits | 7.47% | [1] | 7.78% | [1] | 8.08% | [1] |
Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement | 6.73% | [1] | 6.78% | [1] | 6.84% | [1] |
Annual Rate of Increase in the Per Capita Medicare Part D Subsidy | 6.79% | [1] | 7.03% | [1] | 7.13% | [1] |
Ultimate health care trend rate by 2028 | 4.50% | ' | ' | |||
[1] | It was assumed that this rate would gradually decline to 4.5% by 2028. |
Retirement_Plan_And_Other_Post7
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Fair Value Of Plan Assets) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Retirement Plan [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | $869,791 | $799,307 | $701,676 | $601,719 | ||
Retirement Plan [Member] | Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 268,649 | [1] | 402,107 | [1] | ' | ' |
Retirement Plan [Member] | International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 80,957 | [2] | 103,028 | [2] | ' | ' |
Retirement Plan [Member] | Global Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 104,238 | [3] | 25,325 | [3] | ' | ' |
Retirement Plan [Member] | Domestic Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 299,494 | [4] | 163,750 | [4] | ' | ' |
Retirement Plan [Member] | International Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 1,240 | [5] | 2,762 | [5] | ' | ' |
Retirement Plan [Member] | Global Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 93,704 | [6] | 88,084 | [6] | ' | ' |
Retirement Plan [Member] | Hedge Funds Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 45,213 | 42,027 | ' | ' | ||
Retirement Plan [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 3,792 | 2,723 | ' | ' | ||
Retirement Plan [Member] | Cash And Cash Equivalents [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 33,544 | 22,694 | ' | ' | ||
Retirement Plan [Member] | Retirement Plan Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 930,831 | 852,500 | ' | ' | ||
Retirement Plan [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | -54,921 | -49,453 | ' | ' | ||
Retirement Plan [Member] | Total Retirement Plan Investments Excluding 401 H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 875,910 | 803,047 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 497,601 | 472,392 | 414,134 | 351,990 | ||
Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 148,219 | 205,623 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 54,881 | 87,613 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | Exchange Traded Funds Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 236,513 | 122,558 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | ' | 55 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | Cash Held In Collective Trust Funds [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 6,412 | 11,678 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | Total VEBA Trust Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 446,025 | 427,527 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 54,921 | 49,453 | ' | ' | ||
Other Post-Retirement Benefit Plans [Member] | Total Investments Including 401H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 500,946 | 476,980 | ' | ' | ||
Other Post-Retirement Benefit Assets [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 497,601 | 472,392 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 171,979 | [1] | 271,071 | [1] | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 1,969 | [2] | 2,355 | [2] | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Global Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [3] | 0 | [3] | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Domestic Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 63,187 | [4] | 71,185 | [4] | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | International Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 508 | [5] | 1,318 | [5] | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Global Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [6] | 0 | [6] | ' | ' |
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Hedge Funds Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Cash And Cash Equivalents [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Retirement Plan Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 237,643 | 345,929 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | -14,105 | -20,141 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Retirement Plan [Member] | Total Retirement Plan Investments Excluding 401 H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 223,538 | 325,788 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Exchange Traded Funds Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 236,513 | 122,558 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | ' | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Cash Held In Collective Trust Funds [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Total VEBA Trust Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 236,513 | 122,558 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 14,105 | 20,141 | ' | ' | ||
Fair Value, Inputs, Level 1 [Member] | Other Post-Retirement Benefit Plans [Member] | Total Investments Including 401H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 250,618 | 142,699 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 96,670 | [1] | 131,036 | [1] | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 78,988 | [2] | 100,673 | [2] | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Global Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 104,238 | [3] | 25,325 | [3] | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Domestic Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 236,307 | [4] | 92,565 | [4] | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | International Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 732 | [5] | 1,444 | [5] | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Global Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 93,704 | [6] | 88,084 | [6] | ' | ' |
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Hedge Funds Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Cash And Cash Equivalents [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 33,544 | 22,694 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Retirement Plan Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 644,183 | 461,821 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | -37,907 | -26,706 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Retirement Plan [Member] | Total Retirement Plan Investments Excluding 401 H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 606,276 | 435,115 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 148,219 | 205,623 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 54,881 | 87,613 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Exchange Traded Funds Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | ' | 0 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Cash Held In Collective Trust Funds [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 6,412 | 11,678 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Total VEBA Trust Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 209,512 | 304,914 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 37,907 | 26,706 | ' | ' | ||
Fair Value, Inputs, Level 2 [Member] | Other Post-Retirement Benefit Plans [Member] | Total Investments Including 401H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 247,419 | 331,620 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [1] | 0 | [1] | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [2] | 0 | [2] | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Global Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [3] | 0 | [3] | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Domestic Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [4] | 0 | [4] | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | International Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [5] | 0 | [5] | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Global Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | [6] | 0 | [6] | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Hedge Funds Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 45,213 | 42,027 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 3,792 | 2,723 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Cash And Cash Equivalents [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Retirement Plan Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 49,005 | 44,750 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | -2,909 | -2,606 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Retirement Plan [Member] | Total Retirement Plan Investments Excluding 401 H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 46,096 | 42,144 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds Domestic Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Collective Trust Funds International Equities [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Exchange Traded Funds Fixed Income [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Real Estate [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | ' | 55 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Cash Held In Collective Trust Funds [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 0 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Total VEBA Trust Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 0 | 55 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | 401(h) Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 2,909 | 2,606 | ' | ' | ||
Fair Value, Inputs, Level 3 [Member] | Other Post-Retirement Benefit Plans [Member] | Total Investments Including 401H Investments [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | 2,909 | 2,661 | ' | ' | ||
Miscellaneous Accruals Including Currentand Deferred Taxes Claims Incurred But Not Reported Administrative [Member] | Other Post-Retirement Benefit Plans [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | -3,345 | -4,588 | ' | ' | ||
Miscellaneous Accruals, Interest Receivables, And Non-Interest Cash [Member] | Retirement Plan [Member] | ' | ' | ' | ' | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ||
Fair Value of Investments | ($6,119) | ($3,740) | ' | ' | ||
[1] | Domestic Equities include mostly collective trust funds, common stock, and exchange traded funds. | |||||
[2] | International Equities include mostly collective trust funds and common stock. | |||||
[3] | Global Equities are comprised of a collective trust fund. | |||||
[4] | Domestic Fixed Income securities include mostly collective trust funds, corporate/government bonds and mortgages, and exchange traded funds. | |||||
[5] | International Fixed Income securities include mostly collective trust funds and exchange traded funds. | |||||
[6] | Global Fixed Income securities are comprised of a collective trust fund. |
Retirement_Plan_And_Other_Post8
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Significant Unobservable Input Changes In Plan Assets) (Details) (USD $) | 12 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Retirement Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | $42,144,000 | $43,446,000 |
Realized Gains/(Losses) | 58,000 | -69,000 |
Unrealized Gains/(Losses) | 2,937,000 | 2,430,000 |
Purchases | 1,046,000 | 177,000 |
Sales | -89,000 | -3,840,000 |
Balance, End of Year | 46,096,000 | 42,144,000 |
Other Post-Retirement Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | 2,661,000 | 3,985,000 |
Realized Gains/(Losses) | -36,000 | 936,000 |
Unrealized Gains/(Losses) | 239,000 | 541,000 |
Purchases | 65,000 | 11,000 |
Sales | -20,000 | -2,812,000 |
Balance, End of Year | 2,909,000 | 2,661,000 |
Hedge Funds Investments [Member] | Retirement Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | 42,027,000 | 39,956,000 |
Realized Gains/(Losses) | 0 | 0 |
Unrealized Gains/(Losses) | 3,186,000 | 2,071,000 |
Purchases | 0 | 0 |
Sales | 0 | 0 |
Balance, End of Year | 45,213,000 | 42,027,000 |
Real Estate [Member] | Retirement Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | 2,723,000 | 6,170,000 |
Realized Gains/(Losses) | 62,000 | -73,000 |
Unrealized Gains/(Losses) | -10,000 | 515,000 |
Purchases | 1,111,000 | 188,000 |
Sales | -94,000 | -4,077,000 |
Balance, End of Year | 3,792,000 | 2,723,000 |
Excluding 401(h) Investments [Member] | Retirement Plan [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | -2,606,000 | -2,680,000 |
Realized Gains/(Losses) | -4,000 | 4,000 |
Unrealized Gains/(Losses) | -239,000 | -156,000 |
Purchases | -65,000 | -11,000 |
Sales | 5,000 | 237,000 |
Balance, End of Year | -2,909,000 | -2,606,000 |
VEBA Investments [Member] | Other Post-Retirement Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | 55,000 | 1,305,000 |
Realized Gains/(Losses) | -40,000 | 940,000 |
Unrealized Gains/(Losses) | 0 | 385,000 |
Purchases | 0 | 0 |
Sales | -15,000 | -2,575,000 |
Balance, End of Year | 0 | 55,000 |
Including 401(h) Investments [Member] | Other Post-Retirement Benefit Plans [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Balance, Beginning of Year | 2,606,000 | 2,680,000 |
Realized Gains/(Losses) | 4,000 | -4,000 |
Unrealized Gains/(Losses) | 239,000 | 156,000 |
Purchases | 65,000 | 11,000 |
Sales | -5,000 | -237,000 |
Balance, End of Year | $2,909,000 | $2,606,000 |
Commitments_And_Contingencies_
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
Site Contingency [Line Items] | ' |
Estimated minimum liability for environmental remediation | 14 |
Future purchase obligation first year | 263.8 |
Future purchase obligation second year | 66.7 |
Future purchase obligation third year | 91.8 |
Future purchase obligation fourth year | 91.8 |
Future purchase obligation fifth year | 82.1 |
Future purchase obligation thereafter year | 845.1 |
Operating lease commitment first year | 16 |
Operating lease commitment second year | 5.8 |
Operating lease commitment third year | 5.7 |
Operating lease commitment fourth year | 5.6 |
Operating lease commitment fifth year | 5.3 |
Operating lease commitment thereafter year | 2.4 |
Mainframe Replacement Project [Member] | ' |
Site Contingency [Line Items] | ' |
Contract commitments first year | 21 |
Contract commitments second year | 5 |
Former Manufactured Gas Plant Site [Member] | ' |
Site Contingency [Line Items] | ' |
Estimated minimum liability for environmental remediation | 12.6 |
Environmental Site Remediation Costs [Member] | ' |
Site Contingency [Line Items] | ' |
Rate recovery period | '13 years |
Exploration And Production [Member] | ' |
Site Contingency [Line Items] | ' |
Contract commitments first year | 95.3 |
Contract commitments second year | 24 |
Contract commitments third year | 0.2 |
Pipeline And Storage And Gathering Segments [Member] | ' |
Site Contingency [Line Items] | ' |
Contract commitments first year | 103.9 |
Contract commitments second year | 0.5 |
Business_Segment_Information_N
Business Segment Information (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||
segment | |||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ||
Segment Profit: Net Income (Loss) | $57,431 | $64,520 | $95,210 | [1] | $82,252 | $47,842 | [2] | $58,495 | $85,720 | $67,944 | $299,413 | $260,001 | $220,077 |
Energy Marketing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,631 | 4,589 | 4,169 | ||
Energy Marketing [Member] | Unbilled Revenues [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Revenue from External Customers | ' | ' | ' | ' | ' | ' | ' | ' | 8,500 | ' | ' | ||
Energy Marketing [Member] | Margin [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | $600 | ' | ' | ||
[1] | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | ||||||||||||
[2] | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. |
Business_Segment_Information_S
Business Segment Information (Segment Information By Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | $4,170 | $4,335 | $3,689 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 94,277 | 94,111 | 86,240 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 383,781 | 326,760 | 271,530 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 189,614 | 172,758 | 150,554 | |||||
Segment Profit: Net Income (Loss) | 57,431 | 64,520 | 95,210 | [1] | 82,252 | 47,842 | [2] | 58,495 | 85,720 | 67,944 | 299,413 | 260,001 | 220,077 | |||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 969,907 | 717,097 | 977,394 | |||||
Segment Assets | 6,739,597 | ' | ' | ' | 6,218,347 | ' | ' | ' | 6,739,597 | 6,218,347 | 5,935,142 | |||||
Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 3,010 | 3,417 | 2,765 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 27,693 | 29,076 | 33,181 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 43,594 | 42,729 | 42,757 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 33,918 | 31,065 | 29,110 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 64,059 | 65,686 | 58,590 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 88,810 | 71,970 | 58,284 | |||||
Segment Assets | 1,862,850 | ' | ' | ' | 1,870,587 | ' | ' | ' | 1,862,850 | 1,870,587 | 2,070,413 | |||||
Pipeline And Storage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 284 | 193 | 199 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 26,428 | 26,248 | 25,603 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 36,642 | 35,156 | 38,182 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 47,100 | 38,626 | 37,655 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 77,559 | 63,245 | 60,527 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 139,821 | 56,144 | 144,167 | |||||
Segment Assets | 1,367,181 | ' | ' | ' | 1,246,027 | ' | ' | ' | 1,367,181 | 1,246,027 | 1,243,862 | |||||
Exploration And Production [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 1,909 | 1,501 | 1,493 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 42,232 | 39,745 | 29,243 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 296,210 | 243,431 | 187,624 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 81,370 | 95,317 | 79,050 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 121,569 | 115,391 | 96,498 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 602,705 | 533,129 | 693,810 | |||||
Segment Assets | 3,100,514 | ' | ' | ' | 2,746,233 | ' | ' | ' | 3,100,514 | 2,746,233 | 2,367,485 | |||||
Energy Marketing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 173 | 169 | 188 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 31 | 36 | 41 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 197 | 123 | 90 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 3,761 | 2,450 | 1,933 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,631 | 4,589 | 4,169 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 264 | 595 | 770 | |||||
Segment Assets | 76,238 | ' | ' | ' | 67,267 | ' | ' | ' | 76,238 | 67,267 | 61,968 | |||||
Gathering [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 120 | 55 | 1 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,726 | 2,283 | 1,444 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6,116 | 3,945 | 1,691 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 23,636 | 10,287 | 4,825 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 32,709 | 13,321 | 6,855 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 137,799 | 54,792 | 80,012 | |||||
Segment Assets | 326,662 | ' | ' | ' | 203,323 | ' | ' | ' | 326,662 | 203,323 | 116,756 | |||||
Total Reportable Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 5,496 | 5,335 | 4,646 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 98,110 | 97,388 | 89,512 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 382,759 | 325,384 | 270,344 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 189,785 | 177,745 | 152,573 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 302,527 | 262,232 | 226,639 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 969,399 | 716,630 | 977,043 | |||||
Segment Assets | 6,733,445 | ' | ' | ' | 6,133,437 | ' | ' | ' | 6,733,445 | 6,133,437 | 5,860,484 | |||||
All Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | 106 | 115 | 174 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 2 | 294 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 344 | 577 | 400 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 822 | 529 | -490 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,160 | 894 | 13 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 274 | 307 | 5 | |||||
Segment Assets | 86,460 | ' | ' | ' | 95,793 | ' | ' | ' | 86,460 | 95,793 | 93,178 | |||||
Corporate And Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | -1,432 | -1,115 | -1,131 | |||||
Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | -3,839 | -3,279 | -3,566 | |||||
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | 678 | 799 | 786 | |||||
Income Tax Expense (Benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -993 | -5,516 | -1,529 | |||||
Segment Profit: Net Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | -4,274 | -3,125 | -6,575 | |||||
Expenditures for Additions to Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | 234 | 160 | 346 | |||||
Segment Assets | -80,308 | ' | ' | ' | -10,883 | ' | ' | ' | -80,308 | -10,883 | -18,520 | |||||
Revenue From External Customers [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 2,113,081 | [3] | 1,829,551 | [3] | 1,626,853 | [3] | ||
Revenue From External Customers [Member] | Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 831,156 | [3] | 730,319 | [3] | 704,518 | [3] | ||
Revenue From External Customers [Member] | Pipeline And Storage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 200,664 | [3] | 178,184 | [3] | 172,312 | [3] | ||
Revenue From External Customers [Member] | Exploration And Production [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 804,096 | [3] | 702,937 | [3] | 558,180 | [3] | ||
Revenue From External Customers [Member] | Energy Marketing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 271,993 | [3] | 211,990 | [3] | 186,579 | [3] | ||
Revenue From External Customers [Member] | Gathering [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 673 | [3] | 1,324 | [3] | 704 | [3] | ||
Revenue From External Customers [Member] | Total Reportable Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 2,108,582 | [3] | 1,824,754 | [3] | 1,622,293 | [3] | ||
Revenue From External Customers [Member] | All Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 3,532 | [3] | 3,910 | [3] | 3,603 | [3] | ||
Revenue From External Customers [Member] | Corporate And Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 967 | [3] | 887 | [3] | 957 | [3] | ||
Intersegment Revenues [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Intersegment Revenues [Member] | Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 18,462 | 16,020 | 14,604 | |||||
Intersegment Revenues [Member] | Pipeline And Storage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 83,744 | 89,424 | 86,963 | |||||
Intersegment Revenues [Member] | Exploration And Production [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Intersegment Revenues [Member] | Energy Marketing [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,159 | 1,384 | 1,425 | |||||
Intersegment Revenues [Member] | Gathering [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 69,937 | 33,457 | 16,771 | |||||
Intersegment Revenues [Member] | Total Reportable Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 173,302 | 140,285 | 119,763 | |||||
Intersegment Revenues [Member] | All Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||||
Intersegment Revenues [Member] | Corporate And Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ($173,302) | ($140,285) | ($119,763) | |||||
[1] | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | |||||||||||||||
[2] | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. | |||||||||||||||
[3] | All Revenue from External Customers originated in the United States. |
Business_Segment_Information_S1
Business Segment Information (Schedule Of Long-Lived Assets, By Geographical Areas) (Details) (United States [Member], USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
United States [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Long-Lived Assets | $6,362,265 | $5,769,670 | $5,579,566 |
Quarterly_Financial_Data_Sched
Quarterly Financial Data (Schedule Of Quarterly Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Operating Revenues | $366,623,000 | $440,144,000 | $756,242,000 | $550,072,000 | $338,863,000 | $440,008,000 | $597,826,000 | $452,854,000 | $2,113,081,000 | $1,829,551,000 | $1,626,853,000 | ||
Operating Income | 102,004,000 | 127,013,000 | 180,075,000 | 160,581,000 | 96,636,000 | 127,004,000 | 162,991,000 | 131,207,000 | 569,673,000 | 517,838,000 | 448,049,000 | ||
Net Income Available for Common Stock | 57,431,000 | 64,520,000 | 95,210,000 | [1] | 82,252,000 | 47,842,000 | [2] | 58,495,000 | 85,720,000 | 67,944,000 | 299,413,000 | 260,001,000 | 220,077,000 |
Earnings per Common Share, Basic | $0.68 | $0.77 | $1.14 | $0.98 | $0.57 | $0.70 | $1.03 | $0.81 | $3.57 | $3.11 | $2.65 | ||
Earnings per Common Share, Diluted | $0.68 | $0.76 | $1.12 | $0.97 | $0.57 | $0.69 | $1.02 | $0.81 | $3.52 | $3.08 | $2.63 | ||
Corporate Category [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Death Benefit Gain on Life Insurance Proceeds | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' | ||
Utility [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net Income Available for Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | 64,059,000 | 65,686,000 | 58,590,000 | ||
Rate proceeding refund provision | ' | ' | ' | ' | $4,700,000 | ' | ' | ' | ' | ' | ' | ||
[1] | Includes $3.6 million of income associated with a death benefit gain on life insurance proceeds recorded in the Corporate category. | ||||||||||||
[2] | Includes a $4.7 million refund provision recorded in the Utility segment related to various issues raised in Distribution Corporation’s rate proceeding in New York. |
Market_For_Common_Stock_And_Re2
Market For Common Stock And Related Shareholder Matters (Price Ranges And Dividends Declared) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | |
entity | |||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common stock shareholders | ' | ' | ' | ' | ' | ' | ' | ' | 12,654 |
Dividends Declared | $0.39 | $0.39 | $0.38 | $0.38 | $0.38 | $0.38 | $0.37 | $0.37 | ' |
High [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price Range | $78.79 | $78.46 | $77.05 | $72.53 | $69.27 | $64.58 | $61.44 | $55.66 | 78.79 |
Low [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Price Range | $65.29 | $68.50 | $68.12 | $65.23 | $57.52 | $56.80 | $48.51 | $49 | 65.29 |
Supplementary_Information_For_2
Supplementary Information For Oil And Gas Producing Activities (Narrative) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010 | Sep. 30, 2009 |
ft3 | ft3 | ft3 | ||||
Reserve Quantities [Line Items] | ' | ' | ' | ' | ' | ' |
Amount spent for developing proved undeveloped reserves | $179.90 | $148.50 | $216.60 | ' | ' | ' |
Increase in Proved undeveloped (PUD) reserve | 60,000,000,000 | 42,000,000,000 | ' | ' | ' | ' |
Percentage of PUD reserves to the total proved reserves | 27.00% | 29.00% | 33.00% | ' | ' | ' |
New PUD reserve additions | 290,000,000,000 | 221,000,000,000 | ' | ' | ' | ' |
Proved Undeveloped Reserves, Acquired | 20,000,000,000 | ' | ' | ' | ' | ' |
Proved Undeveloped Reserve (Volume) | 512,000,000,000 | 452,000,000,000 | 410,000,000,000 | ' | ' | ' |
PUD conversions to developed reserves | 229,000,000,000 | 160,000,000,000 | ' | ' | ' | ' |
Proved Undeveloped Reserves, Removed | 33,000,000,000 | ' | ' | ' | ' | ' |
PUD revisions | 12,000,000,000 | -19,000,000,000 | ' | ' | ' | ' |
Investment made to convert proved undeveloped reserves to developed reserves | 180 | 149 | ' | ' | ' | ' |
Percentage of PUD reserves booked | ' | 51.00% | 39.00% | 33.00% | 47.00% | 19.00% |
Conversion of undeveloped proved reserves to developed proved reserves | 229,000,000,000 | 160,000,000,000 | ' | ' | ' | ' |
Arbitrary discount rate | 10.00% | ' | ' | ' | ' | ' |
West Coast Region [Member] | ' | ' | ' | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' | ' | ' | ' |
Proved Undeveloped Reserves, Removed | 9,000,000,000 | ' | ' | ' | ' | ' |
Midway Sunset [Member] | ' | ' | ' | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' | ' | ' | ' |
Proved Undeveloped Reserves, Removed | 1,501 | ' | ' | ' | ' | ' |
Marcellus Shale Fields [Member] | ' | ' | ' | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' | ' | ' | ' |
New PUD reserve additions | 288,000,000,000 | 219,000,000,000 | ' | ' | ' | ' |
Proved Undeveloped Reserve (Volume) | 504,000,000,000 | 432,000,000,000 | 381,000,000,000 | ' | ' | ' |
Proved Undeveloped Reserves, Removed | 24,000,000,000 | ' | ' | ' | ' | ' |
Total PUD Reserve Additions Estimated In 2015 [Member] | ' | ' | ' | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' | ' | ' | ' |
Amount to be spent on developing proved undeveloped reserves | $239 | ' | ' | ' | ' | ' |
Conversion Of Undeveloped Proved Reserves To Developed Proved Reserves Including Revisions [Member] | ' | ' | ' | ' | ' | ' |
Reserve Quantities [Line Items] | ' | ' | ' | ' | ' | ' |
Conversion of undeveloped proved reserves to developed proved reserves | 248,000,000,000 | 171,000,000,000 | ' | ' | ' | ' |
Supplementary_Information_For_3
Supplementary Information For Oil And Gas Producing Activities (Capitalized Costs Relating To Oil And Gas Producing Activities) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | ||
Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] | ' | ' | ||
Proved Properties | $3,941,143,000 | [1] | $3,393,612,000 | [1] |
Unproved Properties | 141,719,000 | 106,085,000 | ||
Capitalized Costs, Oil and Gas Producing Activities, Gross, Total | 4,082,862,000 | 3,499,697,000 | ||
Less - Accumulated Depreciation, Depletion and Amortization | 1,211,610,000 | 919,989,000 | ||
Capitalized Costs Oil And Gas Producing Activities Net | 2,871,252,000 | 2,579,708,000 | ||
Asset retirement costs | $75,700,000 | $80,600,000 | ||
[1] | Includes asset retirement costs of $75.7 million and $80.6 million at September 30, 2014 and 2013, respectively. |
Supplementary_Information_For_4
Supplementary Information For Oil And Gas Producing Activities (Summary Of Capitalized Costs Of Unproved Properties Excluded From Amortization) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2014 | Sep. 30, 2011 |
Capitalized Costs Of Unproved Properties Cumulative Balance [Member] | Costs Incurred Prior To Fiscal 2012 [Member] | ||||
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items] | ' | ' | ' | ' | ' |
Acquisition Costs | $7,057 | $905 | $5,585 | $61,712 | $48,165 |
Development Costs | 39,339 | 677 | 1,405 | 42,362 | 941 |
Exploration Costs | 36,882 | 0 | 0 | 36,882 | 0 |
Capitalized Interest | 763 | 0 | 0 | 763 | 0 |
Capitalized Costs of Unproved Properties Excluded from Amortization, Total | $84,041 | $1,582 | $6,990 | $141,719 | $49,106 |
Supplementary_Information_For_5
Supplementary Information For Oil And Gas Producing Activities (Costs Incurred In Oil And Gas Property Acquisition, Exploration And Development Activities) (Details) (USD $) | 12 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] | ' | ' | ' | |||
Proved | $18,213,000 | $7,575,000 | $13,095,000 | |||
Unproved | 7,884,000 | 9,274,000 | 13,867,000 | |||
Exploration Costs | 71,850,000 | [1] | 49,483,000 | [1] | 84,624,000 | [1] |
Development Costs | 490,164,000 | [2] | 460,554,000 | [2] | 576,397,000 | [2] |
Asset Retirement Costs | -4,946,000 | 37,546,000 | 10,344,000 | |||
Total Property Acquisition Costs | 583,165,000 | 564,432,000 | 698,327,000 | |||
Capitalized interest included in exploration costs | 700,000 | 400,000 | 1,000,000 | |||
Capitalized interest included in development costs | $700,000 | $700,000 | $2,000,000 | |||
[1] | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.4 million and $1.0 million, respectively. | |||||
[2] | Amounts for 2014, 2013 and 2012 include capitalized interest of $0.7 million, $0.7 million and $2.0 million, respectively. |
Supplementary_Information_For_6
Supplementary Information For Oil And Gas Producing Activities (Results Of Operations For Producing Activities) (Details) (USD $) | 12 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Operating Revenues | $813,259,000 | [1] | $663,073,000 | [1] | $488,562,000 | [1] |
Production/Lifting Costs | 165,534,000 | 119,243,000 | 83,361,000 | |||
Franchise/Ad Valorem Taxes | 20,765,000 | 17,200,000 | 23,620,000 | |||
Accretion Expense | 6,192,000 | 3,929,000 | 3,084,000 | |||
Depreciation, Depletion and Amortization ($1.82, $1.98 and $2.19 per Mcfe of production) | 291,651,000 | 238,467,000 | 182,759,000 | |||
Income Tax Expense | 140,484,000 | 120,431,000 | 81,904,000 | |||
Results of Operations for Producing Activities (excluding corporate overheads and interest charges) | 188,633,000 | 163,803,000 | 113,834,000 | |||
Revenues from sales to affiliates | 1,000 | 1,000 | 1,000 | |||
Depreciation, Depletion and Amortization, per Mcfe of Production | 1.82 | 1.98 | 2.19 | |||
Results of Operations, Sales or Transfers to Entity's Other Operations | 2,145,000 | 612,000 | 0 | |||
Natural Gas [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Natural Gas (includes revenues from sales to affiliates of $1 for all years presented and transfers to operations of $2,145, $612 and $0, respectively) | 515,080,000 | 371,311,000 | 181,544,000 | |||
Oil, Condensate And Other Liquids [Member] | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | |||
Operating Revenues | $298,179,000 | $291,762,000 | $307,018,000 | |||
[1] | Exclusive of hedging gains and losses. See further discussion in Note G — Financial Instruments. |
Supplementary_Information_For_7
Supplementary Information For Oil And Gas Producing Activities (Proved Developed And Undeveloped Oil And Gas Reserve Quantities) (Details) | 12 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | ||||
MMcf | MMcf | MMcf | MMcf | ||||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Undeveloped Reserve (Volume) | 512,000,000,000 | 452,000,000,000 | 410,000,000,000 | ' | |||
Natural Gas (Mmcf) [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 1,299,515 | 988,434 | 674,922 | ' | |||
Extensions and Discoveries | 446,821 | 361,624 | 436,098 | ' | |||
Revisions of Previous Estimates | 45,048 | 53,150 | -56,455 | ' | |||
Production Volume | -142,307 | -103,693 | -66,131 | ' | |||
Purchases of Minerals in Place | 33,986 | ' | ' | ' | |||
Sales of Minerals in Place | -179 | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 1,682,884 | 1,299,515 | 988,434 | ' | |||
Proved Developed Reserves (Volume) | 1,177,808 | 866,917 | 604,483 | 414,423 | |||
Proved Undeveloped Reserve (Volume) | 505,076 | 432,598 | 383,951 | 260,499 | |||
Oil Mbbl [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 41,598 | 42,862 | 43,345 | ' | |||
Extensions and Discoveries | 1,539 | 2,443 | 1,257 | ' | |||
Revisions of Previous Estimates | -1,694 | -876 | 1,130 | ' | |||
Production Volume | -3,036 | -2,831 | -2,870 | ' | |||
Purchases of Minerals in Place | 83 | ' | ' | ' | |||
Sales of Minerals in Place | -13 | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 38,477 | 41,598 | 42,862 | ' | |||
Proved Developed Reserves (Volume) | 37,255 | 38,365 | 38,444 | 37,580 | |||
Proved Undeveloped Reserve (Volume) | 1,222 | 3,233 | 4,418 | 5,765 | |||
West Coast Region [Member] | Natural Gas (Mmcf) [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 60,777 | 63,023 | 68,316 | ' | |||
Extensions and Discoveries | 0 | 702 | 638 | ' | |||
Revisions of Previous Estimates | 1,358 | 112 | -2,463 | ' | |||
Production Volume | -3,210 | -3,060 | -3,468 | ' | |||
Purchases of Minerals in Place | 0 | ' | ' | ' | |||
Sales of Minerals in Place | -103 | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 58,822 | 60,777 | 63,023 | ' | |||
Proved Developed Reserves (Volume) | 57,907 | 59,862 | 59,923 | 63,965 | |||
Proved Undeveloped Reserve (Volume) | 915 | 915 | 3,100 | 4,351 | |||
West Coast Region [Member] | Oil Mbbl [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 41,315 | 42,556 | 43,066 | ' | |||
Extensions and Discoveries | 1,521 | 2,443 | 1,229 | ' | |||
Revisions of Previous Estimates | -1,677 | -881 | 1,095 | ' | |||
Production Volume | -3,005 | -2,803 | -2,834 | ' | |||
Purchases of Minerals in Place | 83 | ' | ' | ' | |||
Sales of Minerals in Place | -13 | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 38,224 | 41,315 | 42,556 | ' | |||
Proved Developed Reserves (Volume) | 37,002 | 38,082 | 38,138 | 37,306 | |||
Proved Undeveloped Reserve (Volume) | 1,222 | 3,233 | 4,418 | 5,760 | |||
Appalachian Region [Member] | Natural Gas (Mmcf) [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 1,238,738 | 925,411 | 606,606 | ' | |||
Extensions and Discoveries | 446,821 | [1] | 360,922 | [1] | 435,460 | [1] | ' |
Revisions of Previous Estimates | 43,690 | 53,038 | -53,992 | ' | |||
Production Volume | -139,097 | [2] | -100,633 | [2] | -62,663 | [2] | ' |
Purchases of Minerals in Place | 33,986 | ' | ' | ' | |||
Sales of Minerals in Place | -76 | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 1,624,062 | 1,238,738 | 925,411 | ' | |||
Proved Developed Reserves (Volume) | 1,119,901 | 807,055 | 544,560 | 350,458 | |||
Proved Undeveloped Reserve (Volume) | 504,161 | 431,683 | 380,851 | 256,148 | |||
Appalachian Region [Member] | Oil Mbbl [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 283 | 306 | 279 | ' | |||
Extensions and Discoveries | 18 | 0 | 28 | ' | |||
Revisions of Previous Estimates | -17 | 5 | 35 | ' | |||
Production Volume | -31 | -28 | -36 | ' | |||
Purchases of Minerals in Place | 0 | ' | ' | ' | |||
Sales of Minerals in Place | 0 | ' | ' | ' | |||
Proved Developed and Undeveloped Reserves | 253 | 283 | 306 | ' | |||
Proved Developed Reserves (Volume) | 253 | 283 | 306 | 274 | |||
Proved Undeveloped Reserve (Volume) | 0 | 0 | 0 | 5 | |||
Marcellus Shale Fields [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Proved Undeveloped Reserve (Volume) | 504,000,000,000 | 432,000,000,000 | 381,000,000,000 | ' | |||
Marcellus Shale Fields [Member] | Natural Gas (Mmcf) [Member] | ' | ' | ' | ' | |||
Reserve Quantities [Line Items] | ' | ' | ' | ' | |||
Extensions and Discoveries | 442,000 | 355,000 | 435,000 | ' | |||
Production Volume | 131,590 | 93,999 | 55,812 | ' | |||
Percentage exceeding total reserve of production in proved developed and undeveloped reserves | 15.00% | ' | ' | ' | |||
[1] | Extensions and discoveries include 435 Bcf (during 2012), 355 Bcf (during 2013) and 442 Bcf (during 2014), of Marcellus Shale gas in the Appalachian Region. | ||||||
[2] | Production includes 55,812 MMcf (during 2012), 93,999 MMcf (during 2013) and 131,590 MMcf (during 2014), from Marcellus Shale fields (which exceed 15% of total reserves). |
Supplementary_Information_For_8
Supplementary Information For Oil And Gas Producing Activities (Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Oil And Gas Reserves) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] | ' | ' | ' | ' |
Future Cash Inflows | $10,001,545 | $8,943,942 | $7,373,129 | ' |
Future Production Costs | 2,795,657 | 2,334,393 | 1,919,530 | ' |
Future Development Costs | 790,033 | 749,876 | 619,573 | ' |
Future Income Tax Expense at Applicable Statutory Rate | 2,434,370 | 2,113,101 | 1,812,055 | ' |
Future Net Cash Flows | 3,981,485 | 3,746,572 | 3,021,971 | ' |
10% Annual Discount for Estimated Timing of Cash Flows | 1,914,607 | 1,780,206 | 1,552,180 | ' |
Standardized Measure of Discounted Future Net Cash Flows | $2,066,878 | $1,966,366 | $1,469,791 | $1,524,157 |
Supplementary_Information_For_9
Supplementary Information For Oil And Gas Producing Activities (Principal Sources Of Change In The Standardized Measure Of Discounted Future Net Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Supplementary Information For Oil And Gas Producing Activities Unaudited [Abstract] | ' | ' | ' |
Standardized Measure of Discounted Future Net Cash Flows at Beginning of Year | $1,966,366 | $1,469,791 | $1,524,157 |
Sales, Net of Production Costs | -626,960 | -526,630 | -381,581 |
Net Changes in Prices, Net of Production Costs | -38,723 | 339,655 | -385,019 |
Extensions and Discoveries | 381,008 | 390,255 | 224,474 |
Changes in Estimated Future Development Costs | 68,731 | 6,117 | 29,627 |
Purchases of Minerals in Place | 34,705 | 0 | 0 |
Sales of Minerals in Place | -691 | 0 | 0 |
Previously Estimated Development Costs Incurred | 179,502 | 148,535 | 252,967 |
Net Change in Income Taxes at Applicable Statutory Rate | -231,807 | -130,574 | -19,280 |
Revisions of Previous Quantity Estimates | 55,184 | 34,864 | 103,472 |
Accretion of Discount and Other | 279,563 | 234,353 | 120,974 |
Standardized Measure of Discounted Future Net Cash Flows at End of Year | $2,066,878 | $1,966,366 | $1,469,791 |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Valuation and Qualifying Accounts [Abstract] | ' | ' | ' | |||
Balance at Beginning of Period | $27,144 | $30,317 | $31,039 | |||
Additions Charged to Costs and Expenses | 10,856 | 5,568 | 9,183 | |||
Additions Charged to Other Accounts | 3,241 | [1] | 2,390 | [1] | 1,946 | [1] |
Deductions | 9,430 | [2] | 11,131 | [2] | 11,851 | [2] |
Balance at End of Period | $31,811 | $27,144 | $30,317 | |||
[1] | Represents the discount on accounts receivable purchased in accordance with the Utility segment’s 2005 New York rate agreement. | |||||
[2] | Amounts represent net accounts receivable written-off. |