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Pay vs Performance Disclosure
 12 Months Ended
Sep. 30, 2023
USD ($)
$ / shares
Sep. 30, 2022
USD ($)
$ / shares
Sep. 30, 2021
USD ($)
$ / shares
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

Pay versus performance

 

In accordance with rules adopted by the Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we are providing the following disclosure regarding executive compensation for our principal executive office (“PEO”) and Non-PEO NEOs and Company performance for the fiscal years listed below.

 

Refer to the CD&A starting on page 33 for a complete description of how executive compensation relates to Company performance and how the compensation and human resources committee makes its decisions.

 

Pay versus performance table

 

               Value of initial fixed $100
investment based on:		      Company-
selected
measure:
net
economic
earnings
per share		   
Year  Summary
compensation
table total for
PEO		(1)  Compensation
actually paid to
PEO		(2)  Average
summary
compensation
table total for
non-PEO NEOs		(1)  Average
summary
compensation
actually paid to
non-PEO NEOs		(2)  Cumulative
total
shareholder
return		  Peer group
cumulative
total
shareholder
return		(3)  Net income
 (in millions)		  (4) 
2023  $5,213,657  $4,157,434  $1,544,483  $1,300,871  $120.06  $108.98  $217.5  $4.06  
2022  4,974,714  2,925,723  1,453,601  1,032,923  126.54  117.20  220.8  3.86  
2021  5,568,741  8,136,308  1,640,443  2,207,882  119.39  111.01  271.7  4.86  

(1) In all years, Ms. Sitherwood was our PEO and our Non-PEO NEOs were Messrs. Rasche, Lindsey, Darrell and Geiselhart.
(3) The peer group TSR in this table utilizes the S&P 500 Utilities Index (“S&P Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in the 2023 Annual Report on Form 10-K. The comparison assumes $100 was invested for the period starting September 30, 2020, through the end of the listed year in the Company and in the S&P Index, respectively. All dollar values assume reinvestment of the pre-tax value of dividends paid by companies, where applicable, included in the S&P Index. Historical stock performance is not necessarily indicative of future stock performance.
(4) Net economic earnings per share performance summarized above is based on our average basic net economic earnings per share over a period of three years. Net economic earnings exclude from net income the after-tax impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisitions, divestiture and restructuring activities, and the largely non-cash impacts of impairments and other non-recurring or unusual items, such as certain regulatory, legislative or GAAP standard-setting actions.

(2) The amounts shown for Compensation Actually Paid (CAP) have been calculated in accordance with SEC rules and do not reflect compensation actually earned, realized or received by the Company’s NEOs. These amounts reflect the “Summary compensation table” total with certain adjustments as described in the tables below. The following tables set forth the adjustments made during each year represented in the table above to arrive at CAP for our PEO and non-PEO NEOs during fiscal years 2021-2023.

 

  Adjustments to determine CAP for PEO  2021   2022   2023 
  Summary compensation table (SCT) total  $5,568,741   $4,974,714   $5,213,657 
  Adjustments to arrive at CAP:               
  Deduction for change in pension values reported in the SCT   (229,249)   (290,486)   (244,567)
  Increase for “Service Cost” for Pension Plans   160,743    160,975    150,094 
  Increase for “Prior Service Cost” for Pension Plans   –    –    – 
  Deduction for stock awards amounts reported in the SCT   (2,847,634)   (2,605,078)   (2,943,525)
  Fair value of current year equity awards at year-end   3,767,937    2,392,873    2,091,975 
  Change in value of prior years’ awards unvested at year-end   1,605,477    (1,582,072)   (240,693)
  Change in value of prior years’ awards that vested during current year   110,293    (125,203)   130,493 
  Deduction of value of prior years’ awards that were forfeited during year   –    –    – 
  Total adjustments   2,567,567    (2,048,991)   (1,056,223)
  CAP total  $8,136,308   $2,925,723   $4,157,434 

 

  Adjustments to determine average CAP for non-PEO NEOs  2021   2022   2023 
  Summary compensation table (SCT) total  $1,640,443   $1,453,601   $1,544,483 
  Adjustments to arrive at CAP:               
  Deduction for change in pension values reported in the SCT   (80,645)   (48,755)   (83,333)
  Increase for “Service Cost” for Pension Plans   59,216    57,153    54,739 
  Increase for “Prior Service Cost” for Pension Plans   (5,807)   –    – 
  Deduction for stock awards amounts reported in the SCT   (636,711)   (594,473)   (657,440)
  Fair value of current year equity awards at year-end   842,486    546,067    467,218 
  Change in value of prior years’ awards unvested at year-end   360,423    (352,064)   (53,590)
  Change in value of prior years’ awards that vested during current year   28,479    (28,606)   80,767 
  Deduction of value of prior years’ awards that were forfeited during year   –    –    – 
  Total adjustments   567,439    (420,678)   (243,611)
  CAP total  $2,207,882   $1,032,923   $1,300,871 

(3) The peer group TSR in this table utilizes the S&P 500 Utilities Index (“S&P Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in the 2023 Annual Report on Form 10-K. The comparison assumes $100 was invested for the period starting September 30, 2020, through the end of the listed year in the Company and in the S&P Index, respectively. All dollar values assume reinvestment of the pre-tax value of dividends paid by companies, where applicable, included in the S&P Index. Historical stock performance is not necessarily indicative of future stock performance.
(4) Net economic earnings per share performance summarized above is based on our average basic net economic earnings per share over a period of three years. Net economic earnings exclude from net income the after-tax impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisitions, divestiture and restructuring activities, and the largely non-cash impacts of impairments and other non-recurring or unusual items, such as certain regulatory, legislative or GAAP standard-setting actions.
    
Company Selected Measure Name Net economic earnings per share    
Named Executive Officers, Footnote [Text Block]

(1) In all years, Ms. Sitherwood was our PEO and our Non-PEO NEOs were Messrs. Rasche, Lindsey, Darrell and Geiselhart.
(3) The peer group TSR in this table utilizes the S&P 500 Utilities Index (“S&P Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in the 2023 Annual Report on Form 10-K. The comparison assumes $100 was invested for the period starting September 30, 2020, through the end of the listed year in the Company and in the S&P Index, respectively. All dollar values assume reinvestment of the pre-tax value of dividends paid by companies, where applicable, included in the S&P Index. Historical stock performance is not necessarily indicative of future stock performance.
(4) Net economic earnings per share performance summarized above is based on our average basic net economic earnings per share over a period of three years. Net economic earnings exclude from net income the after-tax impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisitions, divestiture and restructuring activities, and the largely non-cash impacts of impairments and other non-recurring or unusual items, such as certain regulatory, legislative or GAAP standard-setting actions.
    
PEO Total Compensation Amount [1] $ 5,213,657 $ 4,974,714 $ 5,568,741
PEO Actually Paid Compensation Amount $ 4,157,434 2,925,723 8,136,308
Adjustment To PEO Compensation, Footnote [Text Block]

 

  Adjustments to determine CAP for PEO  2021   2022   2023 
  Summary compensation table (SCT) total  $5,568,741   $4,974,714   $5,213,657 
  Adjustments to arrive at CAP:               
  Deduction for change in pension values reported in the SCT   (229,249)   (290,486)   (244,567)
  Increase for “Service Cost” for Pension Plans   160,743    160,975    150,094 
  Increase for “Prior Service Cost” for Pension Plans   –    –    – 
  Deduction for stock awards amounts reported in the SCT   (2,847,634)   (2,605,078)   (2,943,525)
  Fair value of current year equity awards at year-end   3,767,937    2,392,873    2,091,975 
  Change in value of prior years’ awards unvested at year-end   1,605,477    (1,582,072)   (240,693)
  Change in value of prior years’ awards that vested during current year   110,293    (125,203)   130,493 
  Deduction of value of prior years’ awards that were forfeited during year   –    –    – 
  Total adjustments   2,567,567    (2,048,991)   (1,056,223)
  CAP total  $8,136,308   $2,925,723   $4,157,434 
    
Non-PEO NEO Average Total Compensation Amount [1] $ 1,544,483 1,453,601 1,640,443
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,300,871 1,032,923 2,207,882
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

  Adjustments to determine average CAP for non-PEO NEOs  2021   2022   2023 
  Summary compensation table (SCT) total  $1,640,443   $1,453,601   $1,544,483 
  Adjustments to arrive at CAP:               
  Deduction for change in pension values reported in the SCT   (80,645)   (48,755)   (83,333)
  Increase for “Service Cost” for Pension Plans   59,216    57,153    54,739 
  Increase for “Prior Service Cost” for Pension Plans   (5,807)   –    – 
  Deduction for stock awards amounts reported in the SCT   (636,711)   (594,473)   (657,440)
  Fair value of current year equity awards at year-end   842,486    546,067    467,218 
  Change in value of prior years’ awards unvested at year-end   360,423    (352,064)   (53,590)
  Change in value of prior years’ awards that vested during current year   28,479    (28,606)   80,767 
  Deduction of value of prior years’ awards that were forfeited during year   –    –    – 
  Total adjustments   567,439    (420,678)   (243,611)
  CAP total  $2,207,882   $1,032,923   $1,300,871 
    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

The following graph compares the PEO and average non-PEO NEOs’ compensation actually paid versus the Company’s cumulative TSR:

 

    
Compensation Actually Paid vs. Net Income [Text Block]

The following graph compares the PEO and average non-PEO NEOs’ compensation actually paid versus the Company’s net income:

 

    
Compensation Actually Paid vs. Company Selected Measure [Text Block]

The following graph compares the PEO and average non-PEO NEOs’ compensation actually paid versus the Company’s NEEPS (non-GAAP):

 

    
Tabular List [Table Text Block]

Financial performance measures

 

In our assessment, the most important financial performance measures used to link compensation actually paid to our NEOs in 2023, as calculated in accordance with the SEC rules, to our performance were:

 

• Adjusted operating income
• NEEPS
• Relative TSR
    
Total Shareholder Return Amount $ 120.06 126.54 119.39
Peer Group Total Shareholder Return Amount [2] 108.98 117.20 111.01
Net Income (Loss) Attributable to Parent $ 217,500,000 $ 220,800,000 $ 271,700,000
Company Selected Measure Amount | $ / shares [3] 4.06 3.86 4.86
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted operating income    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name NEEPS    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Relative TSR    
PEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (1,056,223) $ (2,048,991) $ 2,567,567
PEO [Member] | Deduction for change in pension values reported in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (244,567) (290,486) (229,249)
PEO [Member] | Increase for “Service Cost” for Pension Plans      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 150,094 160,975 160,743
PEO [Member] | Increase for “Prior Service Cost” for Pension Plans      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
PEO [Member] | Deduction for stock awards amounts reported in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,943,525) (2,605,078) (2,847,634)
PEO [Member] | Fair value of current year equity awards at year-end      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,091,975 2,392,873 3,767,937
PEO [Member] | Change in value of prior years’ awards unvested at year-end      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (240,693) (1,582,072) 1,605,477
PEO [Member] | Change in value of prior years’ awards that vested during current year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 130,493 (125,203) 110,293
PEO [Member] | Deduction of value of prior years’ awards that were forfeited during year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
PEO [Member] | Ms. Sitherwood      
Pay vs Performance Disclosure [Table]      
PEO Name Ms. Sitherwood Ms. Sitherwood Ms. Sitherwood
Non-PEO NEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (243,611) $ (420,678) $ 567,439
Non-PEO NEO [Member] | Deduction for change in pension values reported in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (83,333) (48,755) (80,645)
Non-PEO NEO [Member] | Increase for “Service Cost” for Pension Plans      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 54,739 57,153 59,216
Non-PEO NEO [Member] | Increase for “Prior Service Cost” for Pension Plans      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (5,807)
Non-PEO NEO [Member] | Deduction for stock awards amounts reported in the SCT      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (657,440) (594,473) (636,711)
Non-PEO NEO [Member] | Fair value of current year equity awards at year-end      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 467,218 546,067 842,486
Non-PEO NEO [Member] | Change in value of prior years’ awards unvested at year-end      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (53,590) (352,064) 360,423
Non-PEO NEO [Member] | Change in value of prior years’ awards that vested during current year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 80,767 (28,606) 28,479
Non-PEO NEO [Member] | Deduction of value of prior years’ awards that were forfeited during year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount
Non-PEO NEO [Member] | Rasche      
Pay vs Performance Disclosure [Table]      
PEO Name Rasche Rasche Rasche
Non-PEO NEO [Member] | Lindsey      
Pay vs Performance Disclosure [Table]      
PEO Name Lindsey Lindsey Lindsey
Non-PEO NEO [Member] | Darrell      
Pay vs Performance Disclosure [Table]      
PEO Name Darrell Darrell Darrell
Non-PEO NEO [Member] | Geiselhart      
Pay vs Performance Disclosure [Table]      
PEO Name Geiselhart Geiselhart Geiselhart
[1] In all years, Ms. Sitherwood was our PEO and our Non-PEO NEOs were Messrs. Rasche, Lindsey, Darrell and Geiselhart.
[2] The peer group TSR in this table utilizes the S&P 500 Utilities Index (“S&P Index”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in the 2023 Annual Report on Form 10-K. The comparison assumes $100 was invested for the period starting September 30, 2020, through the end of the listed year in the Company and in the S&P Index, respectively. All dollar values assume reinvestment of the pre-tax value of dividends paid by companies, where applicable, included in the S&P Index. Historical stock performance is not necessarily indicative of future stock performance.
[3] Net economic earnings per share performance summarized above is based on our average basic net economic earnings per share over a period of three years. Net economic earnings exclude from net income the after-tax impacts of fair value accounting and timing adjustments associated with energy-related transactions, the impacts of acquisitions, divestiture and restructuring activities, and the largely non-cash impacts of impairments and other non-recurring or unusual items, such as certain regulatory, legislative or GAAP standard-setting actions.