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Note 10 - Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Sep. 30, 2024

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

		*September 30, 2024*								*September 30, 2023*
Gas Marketing		*Notional (MMBtu millions)*				*Maximum Term (Months)*				*Notional (MMBtu millions)*				*Maximum Term (Months)*
Natural gas futures purchased		56.0				48				61.3				51
Natural gas options purchased, net		3.8				15				4.9				15
Natural gas basis swaps purchased		32.4				39				44.1				51

Gas Utility
Natural gas futures purchased		34.6				12				66.5				24

September 30, 2024

September 30, 2023

Notional (MMBtu millions)

Maximum Term (Months)

Notional (MMBtu millions)

Maximum Term (Months)

Natural gas futures purchased

34.6

12

66.5

24

Derivative Instruments, Gain (Loss) [Table Text Block]

*Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income*
		*Location of Gain (Loss)*
		*Recorded in Income*		*2024*				*2023*				*2022*
*Derivatives in Cash Flow Hedging Relationships*
Portion of (loss) gain recognized in OCI on derivatives:
Interest rate swaps				$	(15.9	)		$	20.1			$	56.7
Portion of gain reclassified from AOCI to income:
Interest rate swaps		Interest Expense		$	11.1			$	2.4			$	1.2

Derivatives Not Designated as Hedging Instruments*
(Loss) gain recognized in income on derivatives:
Gas / diesel futures		Other Income (Expense), Net		$	(0.3	)		$	0.3			$	—
Natural gas commodity contracts		Operating Expenses: Natural Gas			12.5				18.0				52.6
NYMEX / ICE natural gas contracts		Operating Expenses: Natural Gas			(16.3	)			(35.0	)			43.3
Total				$	(4.1	)		$	(16.7	)		$	95.9

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

*Fair Value of Derivative Instruments in the Consolidated Balance Sheets*
		Derivative Assets*						Derivative Liabilities*
September 30, 2024		*Balance Sheet Location*		*Fair Value*				*Balance Sheet Location*		*Fair Value*
Derivatives designated as hedging instruments
Other: Interest rate swaps		Current Assets: Other		$	0.8			Current Liabilities: Other		$	1.5
Subtotal					0.8						1.5

*Derivatives not designated as hedging instruments*
Gas Utility:
Natural gas contracts		Current Assets: Other			3.4			Current Liabilities: Other			13.6
Gas Marketing:
NYMEX / ICE natural gas contracts		Current Assets: Other			6.2			Current Liabilities: Other			13.7
		Deferred Charges and Other Assets: Other			0.8			Deferred Credits and Other Liabilities: Other			4.0
Natural gas commodity		Current Assets: Other			42.1			Current Liabilities: Other			19.8
		Deferred Charges and Other Assets: Other			3.9			Deferred Credits and Other Liabilities: Other			4.7
Subtotal					56.4						55.8
Total derivatives				$	57.2					$	57.3

September 30, 2023
Derivatives designated as hedging instruments
Other: Interest rate swaps		Current Assets: Other		$	44.2			Current Liabilities: Other		$	—
Subtotal					44.2						—

Derivatives not designated as hedging instruments
Gas Utility:
Natural gas contracts		Current Assets: Other			6.3			Current Liabilities: Other			50.8
Gasoline and heating oil contracts		Current Assets: Other			0.1						—
Gas Marketing:
NYMEX / ICE natural gas contracts		Current Assets: Other		8.0				Current Liabilities: Other			16.0
		Deferred Charges and Other Assets: Other			2.1			Deferred Credits and Other Liabilities: Other			5.7
Natural gas commodity		Current Assets: Other			31.2			Current Liabilities: Other			20.1
		Deferred Charges and Other Assets: Other			5.5			Deferred Credits and Other Liabilities: Other			7.6
Subtotal					53.2						100.2
Total derivatives				$	97.4					$	100.2

*Fair Value of Derivative Instruments in the Balance Sheets*
		Derivative Assets*						Derivative Liabilities*
September 30, 2024		*Balance Sheet Location*		*Fair Value*				*Balance Sheet Location*		*Fair Value*
*Derivatives not designated as hedging instruments*
Natural gas contracts		Current Assets: Other		$	3.4			Current Liabilities: Other		$	13.6
Total derivatives				$	3.4					$	13.6

September 30, 2023
*Derivatives not designated as hedging instruments*
Natural gas contracts		Current Assets: Other		$	6.3			Current Liabilities: Other		$	50.8
Gasoline and heating oil contracts		Current Assets: Other			0.1						—
Total derivatives				$	6.4					$	50.8

Derivative Instrument Reconciliation [Table Text Block]

		*2024*				*2023*
Fair value of derivative assets presented above		$	57.2			$	97.4
Fair value of cash margin receivable offset with derivatives			11.1				49.3
Netting of assets and liabilities with the same counterparty			(25.0	)			(69.4	)
Total		$	43.3			$	77.3
Derivative Instrument Assets, per Consolidated Balance Sheets:
Current Assets: Other		$	39.5			$	71.8
Deferred Charges and Other Assets: Other			3.8				5.5
Total		$	43.3			$	77.3

Fair value of derivative liabilities presented above		$	57.3			$	100.2
Netting of assets and liabilities with the same counterparty			(25.0	)			(69.4	)
Total		$	32.3			$	30.8
Derivative Instrument Liabilities, per Consolidated Balance Sheets:
Current Liabilities: Other		$	27.6			$	23.2
Deferred Credits and Other Liabilities: Other			4.7				7.6
Total		$	32.3			$	30.8

		*2024*				*2023*
Fair value of derivative assets presented above		$	3.4			$	6.4
Fair value of cash margin receivable offset with derivatives			0.4				37.6
Netting of assets and liabilities with the same counterparty			(3.8	)			(44.0	)
Total		$	—			$	—

Fair value of derivative liabilities presented above		$	13.6			$	50.8
Netting of assets and liabilities with the same counterparty			(3.8	)			(44.0	)
Total			9.8			$	6.8

Derivative Instrument Liabilities, per Balance Sheets:
Derivative instrument liabilities		$	9.8			$	6.8
Total		$	9.8			$	6.8

Interest Rate Swap [Member]

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Period Originated		*Contract Hedge Term (Years)*				*Notional Amount*				*Fixed Interest Rate*				*Fiscal 2024 Mark-to-Market (Loss) Gain*
Quarter 3, fiscal 2023			10			$	25.0				3.018	%		$	(1.2	)
Quarter 1, fiscal 2024			10				25.0				3.400	%			—
Quarter 1, fiscal 2024			10				25.0				3.525	%			(0.2	)
Quarter 1, fiscal 2024			10				25.0				3.535	%			(0.2	)
Quarter 1, fiscal 2024			10				25.0				3.450	%			(0.1	)
Quarter 4, fiscal 2024			10				25.0				3.541	%			(0.3	)
Quarter 4, fiscal 2024			10				25.0				3.552	%			(0.3	)
Quarter 4, fiscal 2024			10				25.0				3.426	%			(0.1	)
Quarter 4, fiscal 2024			10				25.0				3.577	%			(0.3	)
Quarter 4, fiscal 2024			10				25.0				3.450	%			(0.1	)
Quarter 4, fiscal 2024			10				25.0				3.350	%			0.1
						$	275.0							$	(2.7	)

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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