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Retirement Plan And Other Post-Retirement Benefits (Tables)
 12 Months Ended
Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Benefit Obligations, Plan Assets And Funded Status
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 2019, 2018 and 2017.
 
Retirement Plan
 
Other Post-Retirement Benefits
 
Year Ended September 30
 
Year Ended September 30
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
(Thousands)
Change in Benefit Obligation
 
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at Beginning of Period
$
985,690

 
$
1,054,826

 
$
1,097,421

 
$
435,986

 
$
462,619

 
$
526,138

Service Cost
8,482

 
9,921

 
11,969

 
1,519

 
1,830

 
2,449

Interest Cost
38,378

 
33,006

 
38,383

 
17,145

 
14,801

 
19,007

Plan Participants’ Contributions
—

 
—

 
—

 
2,930

 
2,894

 
2,717

Retiree Drug Subsidy Receipts
—

 
—

 
—

 
1,855

 
1,545

 
1,553

Actuarial (Gain) Loss
127,748

 
(50,218
)
 
(32,466
)
 
34,401

 
(21,039
)
 
(62,215
)
Benefits Paid
(62,673
)
 
(61,845
)
 
(60,481
)
 
(25,673
)
 
(26,664
)
 
(27,030
)
Benefit Obligation at End of Period
$
1,097,625

 
$
985,690

 
$
1,054,826

 
$
468,163

 
$
435,986

 
$
462,619

Change in Plan Assets
 
 
 
 
 
 
 
 
 
 
 
Fair Value of Assets at Beginning of Period
$
924,506

 
$
910,719

 
$
869,775

 
$
513,800

 
$
514,017

 
$
494,320

Actual Return on Plan Assets
77,401

 
42,652

 
84,279

 
30,006

 
20,657

 
40,157

Employer Contributions
29,215

 
32,980

 
17,146

 
3,064

 
2,896

 
3,853

Plan Participants’ Contributions
—

 
—

 
—

 
2,930

 
2,894

 
2,717

Benefits Paid
(62,673
)
 
(61,845
)
 
(60,481
)
 
(25,673
)
 
(26,664
)
 
(27,030
)
Fair Value of Assets at End of Period
$
968,449

 
$
924,506

 
$
910,719

 
$
524,127

 
$
513,800

 
$
514,017

Net Amount Recognized at End of Period (Funded Status)
$
(129,176
)
 
$
(61,184
)
 
$
(144,107
)
 
$
55,964

 
$
77,814

 
$
51,398

Amounts Recognized in the Balance Sheets Consist of:
 
 
 
 
 
 
 
 
 
 
 
Non-Current Liabilities
$
(129,176
)
 
$
(61,184
)
 
$
(144,107
)
 
$
(4,553
)
 
$
(4,919
)
 
$
(4,972
)
Non-Current Assets
—

 
—

 
—

 
60,517

 
82,733

 
56,370

Net Amount Recognized at End of Period
$
(129,176
)
 
$
(61,184
)
 
$
(144,107
)
 
$
55,964

 
$
77,814

 
$
51,398

Accumulated Benefit Obligation
$
1,053,914

 
$
946,763

 
$
1,010,179

 
N/A

 
N/A

 
N/A

Weighted Average Assumptions Used to Determine Benefit Obligation at September 30
 
 
 
 
 
 
 
 
 
 
 
Discount Rate
3.15
%
 
4.30
%
 
3.77
%
 
3.17
%
 
4.31
%
 
3.81
%
Rate of Compensation Increase
4.70
%
 
4.70
%
 
4.70
%
 
4.70
%
 
4.70
%
 
4.70
%
 
Retirement Plan
 
Other Post-Retirement Benefits
 
Year Ended September 30
 
Year Ended September 30
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
(Thousands)
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
Service Cost
$
8,482

 
$
9,921

 
$
11,969

 
$
1,519

 
$
1,830

 
$
2,449

Interest Cost
38,378

 
33,006

 
38,383

 
17,145

 
14,801

 
19,007

Expected Return on Plan Assets
(62,368
)
 
(61,715
)
 
(59,718
)
 
(30,157
)
 
(31,482
)
 
(31,458
)
Amortization of Prior Service Cost (Credit)
826

 
938

 
1,058

 
(429
)
 
(429
)
 
(429
)
Recognition of Actuarial Loss(1)
32,096

 
37,205

 
42,687

 
5,962

 
10,558

 
18,415

Net Amortization and Deferral for Regulatory Purposes
2,493

 
9,027

 
469

 
16,481

 
15,028

 
6,108

Net Periodic Benefit Cost
$
19,907

 
$
28,382

 
$
34,848

 
$
10,521

 
$
10,306

 
$
14,092

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost at September 30
 
 
 
 
 
 
 
 
 
 
 
Effective Discount Rate for Benefit Obligations
4.30
%
 
3.77
%
 
3.60
%
 
4.31
%
 
3.81
%
 
3.70
%
Effective Rate for Interest on Benefit Obligations
4.03
%
 
3.23
%
 
3.60
%
 
4.05
%
 
3.29
%
 
3.70
%
Effective Discount Rate for Service Cost
4.40
%
 
4.00
%
 
3.60
%
 
4.43
%
 
4.10
%
 
3.70
%
Effective Rate for Interest on Service Cost
4.29
%
 
3.73
%
 
3.60
%
 
4.39
%
 
3.98
%
 
3.70
%
Expected Return on Plan Assets
6.75
%
 
7.00
%
 
7.00
%
 
6.00
%
 
6.25
%
 
6.50
%
Rate of Compensation Increase
4.70
%
 
4.70
%
 
4.70
%
 
4.70
%
 
4.70
%
 
4.70
%
 
(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
The cumulative amounts recognized in accumulated other comprehensive income (loss), regulatory assets, and regulatory liabilities through fiscal 2019, the changes in such amounts during 2019, as well as the amounts expected to be recognized in net periodic benefit cost in fiscal 2020 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
$
(216,146
)
 
$
(27,398
)
 
$
(33,477
)
Prior Service (Cost) Credit
(4,370
)
 
2,829

 
—

Net Amount Recognized
$
(220,516
)
 
$
(24,569
)
 
$
(33,477
)
Changes to Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities Recognized During Fiscal 2019(1)
 
 
 
 
 
Increase in Actuarial Loss, excluding amortization(2)
$
(112,715
)
 
$
(34,553
)
 
$
(14,217
)
Change due to Amortization of Actuarial Loss
32,096

 
5,962

 
3,558

Prior Service (Cost) Credit
826

 
(429
)
 
—

Net Change
$
(79,793
)
 
$
(29,020
)
 
$
(10,659
)
Amounts Expected to be Recognized in Net Periodic
Benefit Cost in the Next Fiscal Year(1)
 
 
 
 
 
Net Actuarial Loss
$
(39,384
)
 
$
(535
)
 
$
(5,341
)
Prior Service (Cost) Credit
(729
)
 
429

 
—

Net Amount Expected to be Recognized
$
(40,113
)
 
$
(106
)
 
$
(5,341
)
 
(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
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
2020
$
27,998

 
$
(1,901
)
2021
$
28,711

 
$
(2,025
)
2022
$
29,142

 
$
(2,147
)
2023
$
29,478

 
$
(2,264
)
2024
$
29,631

 
$
(2,372
)
2025 through 2029
$
147,138

 
$
(12,960
)
Schedule Of Health Care Cost Trend Rates
Assumed health care cost trend rates as of September 30 were:
 
2019
 
 
2018
 
 
2017
 
Rate of Medical Cost Increase for Pre Age 65 Participants
5.50
%
(1)
 
5.59
%
(1)
 
5.67
%
(1)
Rate of Medical Cost Increase for Post Age 65 Participants
4.75
%
(1)
 
4.75
%
(1)
 
4.75
%
(1)
Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits
7.35
%
(1)
 
7.89
%
(1)
 
8.45
%
(1)
Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement
4.75
%
(1)
 
4.75
%
(1)
 
4.75
%
(1)
Annual Rate of Increase in the Per Capita Medicare Part D Subsidy
6.84
%
(1)
 
7.18
%
(1)
 
7.33
%
(1)
 
(1)
It was assumed that this rate would gradually decline to 4.5% by 2039.
Retirement Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Fair Value Of Plan Assets
 
At September 30, 2019
 
Total
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Measured
at NAV(7)
Retirement Plan Investments
 
 
 
 
 
 
 
 
 
Domestic Equities(1)
$
175,812

 
$
114,324

 
$
—

 
$
—

 
$
61,488

International Equities(2)
81,631

 
—

 
—

 
—

 
81,631

Global Equities(3)
70,095

 
—

 
—

 
—

 
70,095

Domestic Fixed Income(4)
493,839

 
1,784

 
439,255

 
—

 
52,800

International Fixed Income(5)
17,744

 
—

 
17,744

 
—

 
—

Global Fixed Income(6)
75,329

 
—

 
—

 
—

 
75,329

Real Estate
107,764

 
—

 
—

 
3,154

 
104,610

Cash Held in Collective Trust Funds
18,310

 
—

 
—

 
—

 
18,310

Total Retirement Plan Investments
1,040,524

 
116,108

 
456,999

 
3,154

 
464,263

401(h) Investments
(73,688
)
 
(8,205
)
 
(32,295
)
 
(223
)
 
(32,965
)
Total Retirement Plan Investments (excluding 401(h) Investments)
$
966,836

 
$
107,903

 
$
424,704

 
$
2,931

 
$
431,298

Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash
1,613

 
 
 
 
 
 
 
 
Total Retirement Plan Assets
$
968,449

 
 
 
 
 
 
 
 
 
At September 30, 2018
 
Total
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Measured
at NAV(7)
Retirement Plan Investments
 
 
 
 
 
 
 
 
 
Domestic Equities(1)
$
223,300

 
$
139,885

 
$
—

 
$
—

 
$
83,415

International Equities(2)
100,832

 
—

 
—

 
—

 
100,832

Global Equities(3)
85,942

 
—

 
—

 
—

 
85,942

Domestic Fixed Income(4)
434,392

 
1,640

 
382,348

 
—

 
50,404

International Fixed Income(5)
416

 
416

 
—

 
—

 
—

Global Fixed Income(6)
72,382

 
—

 
—

 
—

 
72,382

Real Estate
53,878

 
—

 
—

 
3,194

 
50,684

Cash Held in Collective Trust Funds
26,191

 
—

 
—

 
—

 
26,191

Total Retirement Plan Investments
997,333

 
141,941

 
382,348

 
3,194

 
469,850

401(h) Investments
(67,817
)
 
(9,695
)
 
(26,114
)
 
(218
)
 
(31,790
)
Total Retirement Plan Investments (excluding 401(h) Investments)
$
929,516

 
$
132,246

 
$
356,234

 
$
2,976

 
$
438,060

Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash
(5,010
)
 
 
 
 
 
 
 
 
Total Retirement Plan Assets
$
924,506

 
 
 
 
 
 
 
 
 
(1)
Domestic Equities include mostly collective trust funds, common stock, and exchange traded funds.
(2)
International Equities are comprised of collective trust funds.
(3)
Global Equities are comprised of collective trust funds.
(4)
Domestic Fixed Income securities include mostly collective trust funds, corporate/government bonds and mortgages, and exchange traded funds.
(5)
International Fixed Income securities are comprised mostly of corporate/government bonds.
(6)
Global Fixed Income securities are comprised of a collective trust fund.
(7)
Reflects the authoritative guidance related to investments measured at net asset value (NAV).
Schedule Of Significant Unobservable Input Changes In Plan Assets
 
 
Retirement Plan Level 3 Assets
(Thousands)
 
 
Real
Estate
 
Excluding
401(h)
Investments
 
Total
 
 
 
Balance at September 30, 2017
$
3,391

 
$
(225
)
 
$
3,166

 
Unrealized Gains/(Losses)
188

 
(19
)
 
169

 
Sales
(385
)
 
26

 
(359
)
 
Balance at September 30, 2018
3,194


(218
)

2,976

 
Unrealized Gains/(Losses)
(37
)
 
(5
)
 
(42
)
 
Sales
(3
)
 
—

 
(3
)
 
Balance at September 30, 2019
$
3,154

 
$
(223
)
 
$
2,931
Other Post-Retirement Benefit Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Fair Value Of Plan Assets
 
At September 30, 2019
 
Total
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Measured
at NAV(1)
Other Post-Retirement Benefit Assets held in VEBA Trusts
 
 
 
 
 
 
 
 
 
Collective Trust Funds — Global Equities
$
167,966

 
$
—

 
$
—

 
$
—

 
$
167,966

Exchange Traded Funds — Fixed Income
275,296

 
275,296

 
—

 
—

 
—

Cash Held in Collective Trust Funds
8,229

 
—

 
—

 
—

 
8,229

Total VEBA Trust Investments
451,491

 
275,296

 
—

 
—

 
176,195

401(h) Investments
73,688

 
8,205

 
32,295

 
223

 
32,965

Total Investments (including 401(h) Investments)
$
525,179

 
$
283,501

 
$
32,295

 
$
223

 
$
209,160

Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative)
(1,052
)
 
 
 
 
 
 
 
 
Total Other Post-Retirement Benefit Assets
$
524,127

 
 
 
 
 
 
 
 
 
At September 30, 2018
 
Total
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
Measured
at NAV(1)
Other Post-Retirement Benefit Assets held in VEBA Trusts
 
 
 
 
 
 
 
 
 
Collective Trust Funds — Domestic Equities
$
125,295

 
$
—

 
$
—

 
$
—

 
$
125,295

Collective Trust Funds — International Equities
47,245

 
—

 
—

 
—

 
47,245

Exchange Traded Funds — Fixed Income
265,667

 
265,667

 
—

 
—

 
—

Cash Held in Collective Trust Funds
7,894

 
—

 
—

 
—

 
7,894

Total VEBA Trust Investments
446,101

 
265,667

 
—

 
—

 
180,434

401(h) Investments
67,817

 
9,695

 
26,114

 
218

 
31,790

Total Investments (including 401(h) Investments)
$
513,918

 
$
275,362

 
$
26,114

 
$
218

 
$
212,224

Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative)
(118
)
 
 
 
 
 
 
 
 
Total Other Post-Retirement Benefit Assets
$
513,800

 
 
 
 
 
 
 
 

 
(1)
Reflects the authoritative guidance related to investments measured at net asset value (NAV).
Schedule Of Significant Unobservable Input Changes In Plan Assets
 
Other Post-Retirement Benefit Level 3 Assets
(Thousands)
 
401(h)
Investments
 
Balance at September 30, 2017
$
225

Unrealized Gains/(Losses)
19

Sales
(26
)
Balance at September 30, 2018
218

Unrealized Gains/(Losses)
5

Sales
—

Balance at September 30, 2019
$
223