Fair Value Measurements (Tables)

3 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Recurring Fair Value Measures Of Assets And Liabilities

Recurring Fair Value Measures	At fair value as of December 31, 2011
(Thousands of Dollars)	Level 1	Level 2	Level 3	Total

Assets:
Cash Equivalents – Money Market Mutual Funds	$ 180,312	$ -	$ -	$ 180,312
Derivative Financial Instruments:
Over the Counter Swaps – Gas	-	106,115	-	106,115
Other Investments:
Balanced Equity Mutual Fund	21,696	-	-	21,696
Common Stock – Financial Services Industry	4,197	-	-	4,197
Other Common Stock	272	-	-	272
Hedging Collateral Deposits	25,118	-	-	25,118
Total	$231,595	$ 106,115	$ -	$ 337,710

Liabilities:
Derivative Financial Instruments:
Commodity Futures Contracts - Gas	$ 3,516	$ -	$ -	$ 3,516
Over the Counter Swaps – Oil	-	-	54,773	54,773
Over the Counter Swaps – Gas	-	(10,079)	-	(10,079)
Total	$ 3,516	$ (10,079)	$ 54,773	$ 48,210

Total Net Assets/(Liabilities)	$228,079	$ 116,194	$ (54,773)	$ 289,500


Recurring Fair Value Measures	At fair value as of September 30, 2011
(Thousands of Dollars)	Level 1	Level 2	Level 3	Total

Assets:
Cash Equivalents – Money Market Mutual Funds	$ 32,444	$ -	$ -	$ 32,444
Derivative Financial Instruments:
Over the Counter Swaps – Gas	-	75,113	-	75,113
Over the Counter Swaps – Oil	-	-	972	972
Other Investments:
Balanced Equity Mutual Fund	19,882	-	-	19,882
Common Stock – Financial Services Industry	4,478	-	-	4,478
Other Common Stock	226	-	-	226
Hedging Collateral Deposits	19,701	-	-	19,701
Total	$76,731	$ 75,113	$ 972	$ 152,816

Liabilities:
Derivative Financial Instruments:
Commodity Futures Contracts – Gas	$ 3,292	$ -	$ -	$ 3,292
Over the Counter Swaps – Oil	-	-	6,382	6,382
Total	$ 3,292	$ -	$ 6,382	$ 9,674

Total Net Assets/(Liabilities)	$ 73,439	$ 75,113	$ (5,410)	$ 143,142

Fair Value Measurements Using Unobservable Inputs (Level 3)


Fair Value Measurements Using Unobservable Inputs (Level 3)
(Dollars in thousands)		Total Gains/Losses
	October 1, 2011	Gains/Losses Realized and Included in Earnings	Gains/Losses Unrealized and Included in Other Comprehensive Income	Transfer In/Out of Level 3	December 31, 2011

Derivative Financial Instruments⁽²⁾	$(5,410)	$12,612⁽¹⁾	$(61,975)	$ -	$(54,773)

⁽¹⁾Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the three months ended December 31, 2011.

⁽²⁾Derivative Financial Instruments are shown on a net basis.


Fair Value Measurements Using Unobservable Inputs (Level 3)
(Dollars in thousands)		Total Gains/Losses
	October 1, 2010	Gains/Losses Realized and Included in Earnings	Gains/Losses Unrealized and Included in Other Comprehensive Income	Transfer In/Out of Level 3	December 31, 2010

Derivative Financial Instruments⁽²⁾	$(16,483)	$3,602⁽¹⁾	$(24,526)	$ -	$(37,407)

⁽¹⁾Amounts are reported in Operating Revenues in the Consolidated Statement of Income for the three months ended December 31, 2010.

⁽²⁾Derivative Financial Instruments are shown on a net basis.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 33

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 6

-Footnote 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258

+ Details