NATIONAL FUEL GAS CO, 10-K filed on 11/21/2014
Annual Report
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
Sep. 30, 2014 
 
 
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 Income And Earnings Reinvested In The Business (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
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 Comprehensive Income (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 
Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 Accounting Policies
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
Comprehensive Loss Components
 
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss for the
Year Ended
September 30, 2014
 
Affected Line Item in the Statement Where Net Income is Presented
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
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
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
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 Short-Term Borrowings
Capitalization And Short-Term Borrowings
Capitalization and Short-Term Borrowings
Summary of Changes in Common Stock Equity
 
 
 
Common Stock
 
Paid In
Capital
 
Earnings
Reinvested
in the
Business
 
Accumulated
Other
Comprehensive
Income
(Loss)
Shares
 
Amount
 
 
(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
Shares Subject
to Option
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(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

 
1.80
 
$
16,039

Option shares exercisable at September 30, 2014
482,000

 
$
36.71

 
1.80
 
$
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
Shares Subject
To Option
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(In thousands)
Outstanding at September 30, 2013
2,002,704

 
$
46.73

 
 
 
 
Granted in 2014
—

 
$
—

 
 
 
 
Exercised in 2014
(209,222
)
 
$
34.90

 
 
 
 
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
Restricted
Share Awards
 
Weighted Average
Fair Value per
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
Restricted
Stock Units
 
Weighted Average
Fair Value per
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
Restricted Stock Units
 
Weighted Average
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
Performance
Shares
 
Weighted Average
Fair Value per
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
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
Adjustments(1)
 
Total(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
Adjustments(1)
 
Total(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,
2013
 
(Gains)/Losses
Realized and
Included in
Earnings
 
Gains/(Losses)
Unrealized and
Included in Other
Comprehensive
 Income (Loss)
 
Transfer
In/(Out) of
Level 3
 
September 30,
2014
 
(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,
2012
 
(Gains)/Losses
Realized and
Included in
Earnings
 
Gains/(Losses)
Unrealized and
Included in Other
Comprehensive
 Income (Loss)
 
Transfer
In/(Out) of
Level 3
 
September 30,
2013
 
(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
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
Amount
 
2014 Fair
Value
 
2013 Carrying
Amount
 
2013 Fair
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
Flow Hedging
Relationships
 
Amount of
Derivative Gain or
(Loss) Recognized
in Other
Comprehensive
Income (Loss) on
the Consolidated
Statement of
Comprehensive
Income (Loss)
(Effective Portion)
for the Year Ended
September 30,
 
Location 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)
 
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)
for the Year Ended
September 30,
 
Location of
Derivative Gain or (Loss) Recognized
in the Consolidated
Statement of Income
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
 
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,
 
 
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
(Loss) on Derivative
Recognized in the
Consolidated
Statement of Income
for the Year Ended
September 30, 2014
 
Amount of Gain  or
(Loss) on Hedged Item
Recognized in the
Consolidated
Statement of Income
for the Year Ended
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 Benefits
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
%
 
3.50
%
 
4.25
%
 
4.75
%
 
3.50
%
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
%
 
3.50
%
 
4.50
%
 
4.75
%
 
3.50
%
 
4.50
%
Expected Return on Plan Assets
8.00
%
 
8.00
%
 
8.25
%
 
8.00
%
 
8.00
%
 
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
Plan
 
Other
Post-Retirement
Benefits
 
Non-Qualified
Benefit Plans
 
(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
7.10
%
(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)
 
(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
Amounts at
September 30, 2014
 
Level 1
 
Level 2
 
Level 3
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
Amounts at
September 30, 2013
 
Level 1
 
Level 2
 
Level 3
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
Amounts at
September 30, 2014
 
Level 1
 
Level 2
 
Level 3
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
Amounts at
September 30, 2013
 
Level 1
 
Level 2
 
Level 3
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
Funds
 
Real
Estate
 
Excluding
401(h)
Investments
 
Total
 
 
 
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
Trust
Investments
 
Including
401(h)
Investments
 
Other
Post-Retirement
Benefit
Investments
 
Real
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
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
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
and
Production
 
Pipeline
and
Storage
 
Gathering
 
Utility
 
Energy
Marketing
 
Total
Reportable
Segments
 
All
Other
 
Corporate
and
Intersegment
Eliminations
 
Total
Consolidated
 
(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
and
Production
 
Pipeline
and
Storage
 
Gathering
 
Utility
 
Energy
Marketing
 
Total
Reportable
Segments
 
All
Other
 
Corporate
and
Intersegment
Elimination
 
Total
Consolidated
 
(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
and
Production
 
Pipeline
and
Storage
 
Gathering
 
Utility
 
Energy
Marketing
 
Total
Reportable
Segments
 
All
Other
 
Corporate
and
Intersegment
Eliminations
 
Total
Consolidated
 
(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
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
Revenues
 
Operating
Income
 
Net  Income
Available for
Common Stock
 
Earnings per
Common Share
 
 
Basic
 
Diluted
 
 
(Thousands, except per common share amounts)
 
2014
 
 
 
 
 
 
 
 
 
 
9/30/2014
$
366,623

 
$
102,004

 
$
57,431

 
$
0.68

 
$
0.68

 
6/30/2014
$
440,144

 
$
127,013

 
$
64,520

  
$
0.77

 
$
0.76

 
3/31/2014
$
756,242

 
$
180,075

 
$
95,210

(1)
$
1.14

 
$
1.12

 
12/31/2013
$
550,072

 
$
160,581

 
$
82,252

  
$
0.98

 
$
0.97

 
2013
 
 
 
 
 
 
 
 
 
 
9/30/2013
$
338,863

 
$
96,636

 
$
47,842

(2)
$
0.57

 
$
0.57

 
6/30/2013
$
440,008

 
$
127,004

 
$
58,495

  
$
0.70

 
$
0.69

 
3/31/2013
$
597,826

 
$
162,991

 
$
85,720

  
$
1.03

 
$
1.02

 
12/31/2012
$
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.
Supplementary Information For 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)
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
as of
September 30,
2014
 
Year Costs Incurred
 
 
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
Region
 
West
Coast
Region
 
Total
Company
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
Region
 
West
Coast
Region
 
Total
Company
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 Accounts
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 Accounting Policies (Policy)
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
Comprehensive Loss Components
 
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss for the
Year Ended
September 30, 2014
 
Affected Line Item in the Statement Where Net Income is Presented
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 Accounting Policies (Tables)
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
Comprehensive Loss Components
 
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss for the
Year Ended
September 30, 2014
 
Affected Line Item in the Statement Where Net Income is Presented
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 (Tables)
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)
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)
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 Short-Term Borrowings (Tables)
Summary Of Changes In Common Stock Equity 
Summary of Changes in Common Stock Equity
 
 
 
Common Stock
 
Paid In
Capital
 
Earnings
Reinvested
in the
Business
 
Accumulated
Other
Comprehensive
Income
(Loss)
Shares
 
Amount
 
 
(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
Shares Subject
to Option
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(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

 
1.80
 
$
16,039

Option shares exercisable at September 30, 2014
482,000

 
$
36.71

 
1.80
 
$
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
Shares Subject
To Option
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(In thousands)
Outstanding at September 30, 2013
2,002,704

 
$
46.73

 
 
 
 
Granted in 2014
—

 
$
—

 
 
 
 
Exercised in 2014
(209,222
)
 
$
34.90

 
 
 
 
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
Restricted
Share Awards
 
Weighted Average
Fair Value per
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
Restricted
Stock Units
 
Weighted Average
Fair Value per
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
Restricted Stock Units
 
Weighted Average
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
Performance
Shares
 
Weighted Average
Fair Value per
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.
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
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)
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
Adjustments(1)
 
Total(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
Adjustments(1)
 
Total(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,
2013
 
(Gains)/Losses
Realized and
Included in
Earnings
 
Gains/(Losses)
Unrealized and
Included in Other
Comprehensive
 Income (Loss)
 
Transfer
In/(Out) of
Level 3
 
September 30,
2014
 
(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,
2012
 
(Gains)/Losses
Realized and
Included in
Earnings
 
Gains/(Losses)
Unrealized and
Included in Other
Comprehensive
 Income (Loss)
 
Transfer
In/(Out) of
Level 3
 
September 30,
2013
 
(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)
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
Amount
 
2014 Fair
Value
 
2013 Carrying
Amount
 
2013 Fair
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
Flow Hedging
Relationships
 
Amount of
Derivative Gain or
(Loss) Recognized
in Other
Comprehensive
Income (Loss) on
the Consolidated
Statement of
Comprehensive
Income (Loss)
(Effective Portion)
for the Year Ended
September 30,
 
Location 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)
 
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)
for the Year Ended
September 30,
 
Location of
Derivative Gain or (Loss) Recognized
in the Consolidated
Statement of Income
(Ineffective Portion
and Amount
Excluded from
Effectiveness Testing)
 
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,
 
 
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
(Loss) on Derivative
Recognized in the
Consolidated
Statement of Income
for the Year Ended
September 30, 2014
 
Amount of Gain  or
(Loss) on Hedged Item
Recognized in the
Consolidated
Statement of Income
for the Year Ended
September 30, 2014
 
 
 
 
(In thousands)
Commodity Contracts
 
Operating Revenues
 
$
696

 
$
(696
)
Commodity Contracts
 
Purchased Gas
 
(574
)
 
574

 
 
 
 
$
122

 
$
(122
)
Retirement Plan And Other Post-Retirement Benefits (Tables)
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
%
 
3.50
%
 
4.25
%
 
4.75
%
 
3.50
%
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
%
 
3.50
%
 
4.50
%
 
4.75
%
 
3.50
%
 
4.50
%
Expected Return on Plan Assets
8.00
%
 
8.00
%
 
8.25
%
 
8.00
%
 
8.00
%
 
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
Plan
 
Other
Post-Retirement
Benefits
 
Non-Qualified
Benefit Plans
 
(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
7.10
%
(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)
 
(1)
It was assumed that this rate would gradually decline to 4.5% by 2028.
Schedule Of Fair Value Of Plan Assets 
 
Total Fair Value
Amounts at
September 30, 2014
 
Level 1
 
Level 2
 
Level 3
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
Amounts at
September 30, 2013
 
Level 1
 
Level 2
 
Level 3
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
Trust
Investments
 
Including
401(h)
Investments
 
Other
Post-Retirement
Benefit
Investments
 
Real
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

Schedule Of Fair Value Of Plan Assets 
 
Total Fair Value
Amounts at
September 30, 2014
 
Level 1
 
Level 2
 
Level 3
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
Amounts at
September 30, 2013
 
Level 1
 
Level 2
 
Level 3
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
Funds
 
Real
Estate
 
Excluding
401(h)
Investments
 
Total
 
 
 
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 (Tables)
Segment Information By Segment 
 
Year Ended September 30, 2014
 
Exploration
and
Production
 
Pipeline
and
Storage
 
Gathering
 
Utility
 
Energy
Marketing
 
Total
Reportable
Segments
 
All
Other
 
Corporate
and
Intersegment
Eliminations
 
Total
Consolidated
 
(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
and
Production
 
Pipeline
and
Storage
 
Gathering
 
Utility
 
Energy
Marketing
 
Total
Reportable
Segments
 
All
Other
 
Corporate
and
Intersegment
Elimination
 
Total
Consolidated
 
(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
and
Production
 
Pipeline
and
Storage
 
Gathering
 
Utility
 
Energy
Marketing
 
Total
Reportable
Segments
 
All
Other
 
Corporate
and
Intersegment
Eliminations
 
Total
Consolidated
 
(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 (Tables)
Schedule Of Quarterly Financial Information
 
Quarter Ended
Operating
Revenues
 
Operating
Income
 
Net  Income
Available for
Common Stock
 
Earnings per
Common Share
 
 
Basic
 
Diluted
 
 
(Thousands, except per common share amounts)
 
2014
 
 
 
 
 
 
 
 
 
 
9/30/2014
$
366,623

 
$
102,004

 
$
57,431

 
$
0.68

 
$
0.68

 
6/30/2014
$
440,144

 
$
127,013

 
$
64,520

  
$
0.77

 
$
0.76

 
3/31/2014
$
756,242

 
$
180,075

 
$
95,210

(1)
$
1.14

 
$
1.12

 
12/31/2013
$
550,072

 
$
160,581

 
$
82,252

  
$
0.98

 
$
0.97

 
2013
 
 
 
 
 
 
 
 
 
 
9/30/2013
$
338,863

 
$
96,636

 
$
47,842

(2)
$
0.57

 
$
0.57

 
6/30/2013
$
440,008

 
$
127,004

 
$
58,495

  
$
0.70

 
$
0.69

 
3/31/2013
$
597,826

 
$
162,991

 
$
85,720

  
$
1.03

 
$
1.02

 
12/31/2012
$
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.
Supplementary Information For Oil And Gas Producing Activities (Tables)
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
as of
September 30,
2014
 
Year Costs Incurred
 
 
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
Region
 
West
Coast
Region
 
Total
Company
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
Region
 
West
Coast
Region
 
Total
Company
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 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 Accounting Policies (Schedule Of Depreciable Plant By Segment) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 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 
Summary Of Significant Accounting Policies (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 Accounting Policies Summary Of Significant Accounting Policies (Reclassification Out of Accumulated Other Comprehensive Loss) (Details) (USD $)
In Thousands, unless otherwise specified
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
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)
 
 
Summary Of Significant Accounting Policies (Components Of Other Current Assets) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 
Summary Of Significant Accounting Policies (Schedule Of Other Accruals And Current Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Regulatory Matters [Line Items]
 
 
Authorized Increase In Distribution Corporation's Pipeline Replacement Spending
$ 8.2 
 
Allowed Rate Of Return On Equity
9.10% 
 
Rate proceeding refund provision pre tax
 
$ 7.5 
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 Assets And Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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
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 Federal And State Income Taxes Included In The Consolidated Statements Of Income) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 Income Tax Reconciliation By Applying Federal Income Tax Rate) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 Components Of Deferred Tax Liabilities And Assets) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 The Change In Unrecognized Tax Benefits) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 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
Stock Options And SARs [Member]
Sep. 30, 2014
Stock Options [Member]
Sep. 30, 2013
Stock Options [Member]
Sep. 30, 2012
Stock Options [Member]
Sep. 30, 2014
Stock Appreciation Rights (SARs) [Member]
Sep. 30, 2013
Stock Appreciation Rights (SARs) [Member]
Sep. 30, 2012
Stock Appreciation Rights (SARs) [Member]
Sep. 30, 2014
Stock Appreciation Right [Member]
Sep. 30, 2013
Stock Appreciation Right [Member]
Sep. 30, 2012
Stock Appreciation Right [Member]
Sep. 30, 2014
Restricted Share Awards [Member]
Sep. 30, 2013
Restricted Share Awards [Member]
Sep. 30, 2012
Restricted Share Awards [Member]
Sep. 30, 2014
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2013
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2012
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2013
Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2012
Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
Performance Shares [Member]
Sep. 30, 2013
Performance Shares [Member]
Sep. 30, 2012
Performance Shares [Member]
Sep. 30, 2014
Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
Restricted Stock [Member]
Mar. 31, 2013
5.25% Notes Due March 2013 [Member]
Feb. 15, 2013
3.75% Notes Due In March 1, 2023 [Member]
Sep. 30, 2014
Indenture From 1974 [Member]
Sep. 30, 2014
Commercial Paper [Member]
Sep. 30, 2014
2015 [Member]
Restricted Share Awards [Member]
Sep. 30, 2014
2015 [Member]
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
2016 [Member]
Restricted Share Awards [Member]
Sep. 30, 2014
2016 [Member]
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
2016 [Member]
Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
2017 [Member]
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
2017 [Member]
Performance Shares [Member]
Sep. 30, 2014
2018 [Member]
Restricted Share Awards [Member]
Sep. 30, 2014
2018 [Member]
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
2019 [Member]
Non-Performance Based Restricted Stock Units (RSUs) [Member]
Sep. 30, 2014
2021 [Member]
Restricted Share Awards [Member]
Sep. 30, 2014
Board Of Directors [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
Jul. 31, 2018 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 
 
 
 
$ 0.00 
 
$ 55.09 
$ 65.24 
$ 51.11 
$ 47.10 
$ 0.00 
$ 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
750,000,000.0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial paper, outstanding
85,600,000 
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average interest rate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.31% 
 
 
 
 
 
 
 
 
 
 
 
 
Line of Credit Facility, Expiration Date
Jan. 06, 2017 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 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)
Capitalization And Short-Term Borrowings (Schedule Of Share-Based Compensation For Stock Options And Share Awards) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
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
$ 0.00 
 
 
Weighted Average Exercise Price, Exercised
$ 31.71 
 
 
Weighted Average Exercise Price, Forfeited
$ 0.00 
 
 
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
$ 0.00 
 
 
Weighted Average Fair Value per Award Granted
$ 67.16 
 
 
Weighted Average Fair Value per Award Vested
$ 0.00 
 
 
Weighted Average Fair Value per Award Forfeited
$ 67.16 
 
 
Weighted Average Fair Value per Award, End of Year
$ 67.16 
$ 0.00 
 
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
$ 0.00 
 
 
Weighted Average Exercise Price, Exercised
$ 34.90 
 
 
Weighted Average Exercise Price, Forfeited
$ 0.00 
 
 
Weighted Average Exercise Price, Cancelled
$ 0.00 
 
 
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 
$ 11.20 
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
$ 0.00 
 
$ 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
$ 0.00 
$ 49.51 
 
Weighted Average Fair Value per Award Vested
$ 0.00 
 
 
Weighted Average Fair Value per Award Forfeited
$ 48.49 
 
 
Weighted Average Fair Value per Award, End of Year
$ 49.61 
$ 49.51 
 
Capitalization And Short-Term Borrowings (Weighted Average Assumptions Used In Estimating Fair Value) (Details)
12 Months Ended
Sep. 30, 2014
Performance Shares [Member]
Sep. 30, 2013
Stock Appreciation Rights (SARs) [Member]
Sep. 30, 2012
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 Short-Term Borrowings (Schedule Of Long-Term Debt) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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% 
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)
 
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
Fair Value Measurements (Fair Value Measurements Using Unobservable Inputs (Level 3)) (Details) (Derivative Financial Instruments [Member], USD $)
In Thousands, unless otherwise specified
12 Months Ended
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
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 
 
Financial Instruments (Long-Term Debt) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
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 Of Derivatives Financial Instruments Designated And Qualifying As Cash Flow Hedges On The Statements Of Financial Performance) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 (Schedule Of Derivatives And Hedged Items In Fair Value Hedging Relationships) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 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 Post-Retirement Benefits (Schedule Of Benefit Obligations, Plan Assets And Funded Status) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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% 
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Cumulative Amounts Recognized In AOCI (Loss) And Regulatory Assets And Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Expected Benefit Payments) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
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 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% 
 
 
Retirement Plan And Other Post-Retirement Benefits (Schedule Of Fair Value Of Plan Assets) (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2011
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)
 
 
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 (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 30, 2014
Site Contingency [Line Items]
 
Estimated minimum liability for environmental remediation
$ 14.0 
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
16.0 
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
21.0 
Contract commitments second year
5.0 
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
24.0 
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 (Narrative) (Details) (USD $)
In Thousands, unless otherwise specified
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
segment
Sep. 30, 2013
Sep. 30, 2012
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 
 
 
Business Segment Information (Segment Information By Segment) (Details) (USD $)
In Thousands, unless otherwise specified
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
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)
Business Segment Information (Schedule Of Long-Lived Assets, By Geographical Areas) (Details) (United States [Member], USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2012
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 (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 
 
 
 
 
 
 
Supplementary Information For Oil And Gas Producing Activities (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 30, 2014
ft3
Sep. 30, 2013
ft3
Sep. 30, 2012
ft3
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2009
Reserve Quantities [Line Items]
 
 
 
 
 
 
Amount spent for developing proved undeveloped reserves
$ 179.9 
$ 148.5 
$ 216.6 
 
 
 
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 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 
Supplementary Information For Oil And Gas Producing Activities (Summary Of Capitalized Costs Of Unproved Properties Excluded From Amortization) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2014
Capitalized Costs Of Unproved Properties Cumulative Balance [Member]
Sep. 30, 2011
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 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 
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 
Supplementary Information For Oil And Gas Producing Activities (Proved Developed And Undeveloped Oil And Gas Reserve Quantities) (Details)
12 Months Ended
Sep. 30, 2014
MMcf
Sep. 30, 2013
MMcf
Sep. 30, 2012
MMcf
Sep. 30, 2011
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% 
 
 
 
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 $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2011
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 Oil And Gas Producing Activities (Principal Sources Of Change In The Standardized Measure Of Discounted Future Net Cash Flows) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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 Accounts (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
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