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Income Taxes (Tables)
 12 Months Ended
Sep. 30, 2018
Income Tax Disclosure [Abstract]  
Components Of Federal And State Income Taxes Included In The Consolidated Statements Of Income
The components of federal and state income taxes included in the Consolidated Statements of Income are as follows:
 
Year Ended September 30
 
2018
 
2017
 
2016
 
(Thousands)
Current Income Taxes —
 
 
 
 
 
Federal
$
2,025

 
$
32,034

 
$
(6,658
)
State
8,634

 
10,673

 
20,903

Deferred Income Taxes —
 
 
 
 
 
Federal
(38,927
)
 
103,046

 
(164,818
)
State
20,774

 
14,929

 
(81,976
)
 
(7,494
)
 
160,682

 
(232,549
)
Deferred Investment Tax Credit
(105
)
 
(173
)
 
(348
)
Total Income Taxes
$
(7,599
)
 
$
160,509

 
$
(232,897
)
Presented as Follows:
 
 
 
 
 
Other Income
$
(105
)
 
$
(173
)
 
$
(348
)
Income Tax Expense (Benefit)
(7,494
)
 
160,682

 
(232,549
)
Total Income Taxes
$
(7,599
)
 
$
160,509

 
$
(232,897
)
Schedule Of Income Tax Reconciliation By Applying Federal Income Tax Rate
The following is a reconciliation of this difference:
 
Year Ended September 30
 
2018
 
2017
 
2016
 
(Thousands)
U.S. Income (Loss) Before Income Taxes
$
383,922

 
$
443,991

 
$
(523,855
)
Income Tax Expense (Benefit), Computed at
U.S. Federal Statutory Rate(1)
$
94,061

 
$
155,397

 
$
(183,349
)
Impact of 2017 Tax Reform Act(2)
(112,598
)
 
—

 
—

State Income Taxes (Benefit)(3)
22,203

 
16,641

 
(39,697
)
Federal Tax Credits
(6,576
)
 
(6,679
)
 
(3,262
)
Miscellaneous
(4,689
)
 
(4,850
)
 
(6,589
)
Total Income Taxes
$
(7,599
)
 
$
160,509

 
$
(232,897
)

 
(1)
For fiscal 2018, represents the blended rate of 24.5%. Calculated as 35% for the first quarter of the fiscal year and 21% for the remaining three quarters.
(2)
Represents the remeasurement of deferred income taxes as a result of the lower U.S. corporate income tax rate including a $5.0 million estimate for the potential sequestration of AMT credit refunds and the benefit of $9.1 million as a result of the blended tax rate described above.
(3)
The state income taxes (benefit) shown above includes income tax benefits related to state enhanced oil recovery tax credits and adjustments to the estimated state effective tax rates utilized in the calculation of deferred income taxes.
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
 
2018
 
2017
 
(Thousands)
Deferred Tax Liabilities:
 
 
 
Property, Plant and Equipment
$
770,794

 
$
1,141,432

Pension and Other Post-Retirement Benefit Costs
39,541

 
79,516

Other
49,734

 
77,046

Total Deferred Tax Liabilities
860,069

 
1,297,994

Deferred Tax Assets:
 
 
 
Pension and Other Post-Retirement Benefit Costs
(62,969
)
 
(123,532
)
Tax Loss and Credit Carryforwards
(214,128
)
 
(200,344
)
Other
(75,286
)
 
(82,831
)
Total Gross Deferred Tax Assets
(352,383
)
 
(406,707
)
Valuation Allowance
5,000

 
—

Total Deferred Tax Assets
(347,383
)
 
(406,707
)
Total Net Deferred Income Taxes
$
512,686

 
$
891,287
Reconciliation Of The Change In Unrecognized Tax Benefits
The following is a reconciliation of the change in unrecognized tax benefits:
 
Year Ended September 30
 
2018
 
2017
 
2016
 
(Thousands)
Balance at Beginning of Year
$
1,251

 
$
396

 
$
5,085

Additions for Tax Positions of Prior Years
—

 
1,251

 
396

Reductions for Tax Positions of Prior Years
(788
)
 
(396
)
 
(1,314
)
Reductions Related to Settlements with Taxing Authorities
(463
)
 
—

 
(3,771
)
Balance at End of Year
$
—

 
$
1,251

 
$
396
Summary of Operating Loss and Tax Credit Carryforwards
As of September 30, 2018, the Company has the following carryforwards available:
Jurisdiction
 
Tax Attribute
 
Amount
(Thousands)
 
Expires
Federal Pre-Fiscal 2018
 
Net Operating Loss
 
$
191,006

(1)
2029-2037
Federal Post-Fiscal 2017
 
Net Operating Loss
 
58,334

 
Unlimited
Pennsylvania
 
Net Operating Loss
 
351,879

 
2029-2038
California
 
Net Operating Loss
 
191,468

 
2029-2038
Federal
 
Alternative Minimum Tax Credit
 
84,185

(2)
Unlimited
California
 
Alternative Minimum Tax Credit
 
6,983

 
Unlimited
Federal
 
Enhanced Oil Recovery Credit
 
18,160

 
2029-2038
California
 
Enhanced Oil Recovery Credit
 
7,613

 
2019-2033
Federal
 
R&D Tax Credit
 
5,876

 
2031-2037
Federal
 
Charitable Contributions
 
3,067

 
2023

 
(1)
Approximately $1.8 million of the federal Net Operating Loss carryforward is subject to certain annual limitations.
(2)
The $5.0 million estimate recorded for the potential sequestration of AMT credit refunds is not included in this amount.