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Financial Instruments (Table)
 12 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of financial instrument assets and liabilities at fair value
The following table shows the fair values of our risk management assets and liabilities by segment at September 30, 2013 and 2012:
 
Natural Gas
Distribution
 
Nonregulated
 
Total
 
(In thousands)
September 30, 2013
 
 
 
 
 
Assets from risk management activities, current(1)
$
1,837

 
$
16,262

 
$
18,099

Assets from risk management activities, noncurrent
109,354

 
—

 
109,354

Liabilities from risk management activities, current(1)
(1,543
)
 
—

 
(1,543
)
Liabilities from risk management activities, noncurrent
—

 
(6,133
)
 
(6,133
)
Net assets (liabilities)
$
109,648

 
$
10,129

 
$
119,777

September 30, 2012(3)
 
 
 
 
 
Assets from risk management activities, current(2)
$
6,934

 
$
17,773

 
$
24,707

Assets from risk management activities, noncurrent
2,283

 
—

 
2,283

Liabilities from risk management activities, current(2)
(85,366
)
 
(15
)
 
(85,381
)
Liabilities from risk management activities, noncurrent
—

 
(9,206
)
 
(9,206
)
Net assets (liabilities)
$
(76,149
)
 
$
8,552

 
$
(67,597
)

 
(1) 
Includes $24.8 million of cash held on deposit to collateralize certain financial instruments. Of this amount, $8.6 million was used to offset current risk management liabilities under master netting arrangements and the remaining $16.2 million is classified as current risk management assets.
(2) 
Includes $23.7 million of cash held on deposit to collateralize certain financial instruments. Of this amount, $5.9 million was used to offset current risk management liabilities under master netting arrangements and the remaining $17.8 million is classified as current risk management assets.
(3) 
The September 30, 2012 amounts are presented net of assets and liabilities held for sale in conjunction with the sale of our Georgia operations. At September 30, 2012, assets and liabilities held for sale included $0.1 million of current assets from risk management activities and $0.3 million of current liabilities from risk management activities.
Outstanding commodity contracts volumes table
As of September 30, 2013, we had net long/(short) commodity contracts outstanding in the following quantities:
Contract Type
 
Hedge
Designation
 
Natural
Gas
Distribution
 
Nonregulated
 
 
 
 
Quantity (MMcf)
Commodity contracts
 
Fair Value
 
—

 
(13,033
)
 
 
Cash Flow
 
—

 
31,195

 
 
Not designated
 
29,185

 
75,683

 
 
 
 
29,185

 
93,845
Financial instruments on the balance sheet
 
 
Balance Sheet Location
 
Natural
Gas
Distribution
 
Nonregulated
 
Total
 
 
 
 
 
 
(In thousands)
 
 
September 30, 2013
 
 
 
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
 
 
 
Asset Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current assets
 
$
—

 
$
9,094

 
$
9,094

Noncurrent commodity contracts
 
Deferred charges and other assets
 
107,512

 
416

 
107,928

Liability Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current liabilities
 
—

 
(12,173
)
 
(12,173
)
Noncurrent commodity contracts
 
Deferred credits and other liabilities
 
—

 
(1,639
)
 
(1,639
)
Total
 
 
 
107,512

 
(4,302
)
 
103,210

Not Designated As Hedges:
 
 
 
 
 
 
 
 
Asset Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current assets
 
1,837

 
65,388

 
67,225

Noncurrent commodity contracts
 
Deferred charges and other assets
 
1,842

 
40,982

 
42,824

Liability Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current liabilities
 
(1,543
)
 
(70,876
)
 
(72,419
)
Noncurrent commodity contracts
 
Deferred credits and other liabilities
 
—

 
(45,892
)
 
(45,892
)
Total
 
 
 
2,136

 
(10,398
)
 
(8,262
)
Total Financial Instruments
 
 
 
$
109,648

 
$
(14,700
)
 
$
94,948



 
 
Balance Sheet Location
 
Natural
Gas
Distribution
 
Nonregulated
 
Total
 
 
 
 
(In thousands)
September 30, 2012
 
 
 
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
 
 
 
Asset Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current assets
 
$
—

 
$
19,301

 
$
19,301

Noncurrent commodity contracts
 
Deferred charges and other assets
 
—

 
1,923

 
1,923

Liability Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current liabilities
 
(85,040
)
 
(23,787
)
 
(108,827
)
Noncurrent commodity contracts
 
Deferred credits and other liabilities
 
—

 
(4,999
)
 
(4,999
)
Total
 
 
 
(85,040
)
 
(7,562
)
 
(92,602
)
Not Designated As Hedges:
 
 
 
 
 
 
 
 
Asset Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current assets(1)
 
7,082

 
98,393

 
105,475

Noncurrent commodity contracts
 
Deferred charges and other assets
 
2,283

 
60,932

 
63,215

Liability Financial Instruments
 
 
 
 
 
 
 
 
Current commodity contracts
 
Other current liabilities(2)
 
(585
)
 
(99,824
)
 
(100,409
)
Noncurrent commodity contracts
 
Deferred credits and other liabilities
 
—

 
(67,062
)
 
(67,062
)
Total
 
 
 
8,780

 
(7,561
)
 
1,219

Total Financial Instruments
 
 
 
$
(76,260
)
 
$
(15,123
)
 
$
(91,383
)


(1) 
Other current assets not designated as hedges in our natural gas distribution segment include $0.1 million related to risk management assets that were classified as assets held for sale at September 30, 2012.
(2) 
Other current liabilities not designated as hedges in our natural gas distribution segment include $0.3 million related to risk management liabilities that were classified as assets held for sale at September 30, 2012.
Fair value hedges table
The impact of our nonregulated commodity contracts designated as fair value hedges and the related hedged item on our consolidated income statement for the years ended September 30, 2013, 2012 and 2011 is presented below.
 
Fiscal Year Ended September 30
 
2013
 
2012
 
2011
 
(In thousands)
Commodity contracts
$
2,165

 
$
30,266

 
$
16,552

Fair value adjustment for natural gas inventory designated as the hedged item
15,938

 
(5,797
)
 
9,824

Total decrease in purchased gas cost
$
18,103

 
$
24,469

 
$
26,376

The decrease in purchased gas cost is comprised of the following:
 
 
 
 
 
Basis ineffectiveness
$
(208
)
 
$
1,170

 
$
803

Timing ineffectiveness
18,311

 
23,299

 
25,573

 
$
18,103

 
$
24,469

 
$
26,376
Cash flow hedges table
The impact of cash flow hedges on our consolidated income statements for the years ended September 30, 2013, 2012 and 2011 is presented below. Note that this presentation does not reflect the financial impact arising from the hedged physical transaction. Therefore, this presentation is not indicative of the economic gross profit we realized when the underlying physical and financial transactions were settled.
 
Fiscal Year Ended September 30, 2013
 
Natural
Gas
Distribution
 
Regulated
Transmission
and Storage
 
Nonregulated
 
Consolidated
 
(In thousands)
Loss reclassified from AOCI for effective portion of commodity contracts
$
—

 
$
—

 
$
(10,778
)
 
$
(10,778
)
Gain arising from ineffective portion of commodity contracts
—

 
—

 
97

 
97

Total impact on purchased gas cost
—

 
—

 
(10,681
)
 
(10,681
)
Net loss on settled interest rate agreements reclassified from AOCI into interest expense
(3,489
)
 
—

 
—

 
(3,489
)
Total impact from cash flow hedges
$
(3,489
)
 
$
—

 
$
(10,681
)
 
$
(14,170
)

 
Fiscal Year Ended September 30, 2012
 
Natural
Gas
Distribution
 
Regulated
Transmission
and Storage
 
Nonregulated
 
Consolidated
 
(In thousands)
Loss reclassified from AOCI for effective portion of commodity contracts
$
—

 
$
—

 
$
(62,678
)
 
$
(62,678
)
Loss arising from ineffective portion of commodity contracts
—

 
—

 
(1,369
)
 
(1,369
)
Total impact on purchased gas cost
—

 
—

 
(64,047
)
 
(64,047
)
Net loss on settled interest rate agreements reclassified from AOCI into interest expense
(2,009
)
 
—

 
—

 
(2,009
)
Total impact from cash flow hedges
$
(2,009
)
 
$
—

 
$
(64,047
)
 
$
(66,056
)
 
 
Fiscal Year Ended September 30, 2011
 
Natural
Gas
Distribution
 
Regulated
Transmission
and Storage
 
Nonregulated
 
Consolidated
 
(In thousands)
Loss reclassified from AOCI for effective portion of commodity contracts
$
—

 
$
—

 
$
(28,430
)
 
$
(28,430
)
Loss arising from ineffective portion of commodity contracts
—

 
—

 
(1,585
)
 
(1,585
)
Total impact on purchased gas cost
—

 
—

 
(30,015
)
 
(30,015
)
Net loss on settled interest rate agreements reclassified from AOCI into interest expense
(2,455
)
 
—

 
—

 
(2,455
)
Gain on unwinding of interest rate agreement reclassified from AOCI into miscellaneous income
21,803

 
6,000

 
—

 
27,803

Total impact from cash flow hedges
$
19,348

 
$
6,000

 
$
(30,015
)
 
$
(4,667
)
Other comprehensive income from hedging table
The following table summarizes the gains and losses arising from hedging transactions that were recognized as a component of other comprehensive income (loss), net of taxes, for the years ended September 30, 2013 and 2012. The amounts included in the table below exclude gains and losses arising from ineffectiveness because these amounts are immediately recognized in the income statement as incurred.
 
Fiscal Year Ended
September 30
 
2013
 
2012
 
(In thousands)
Increase (decrease) in fair value:
 
 
 
Interest rate agreements
$
79,963

 
$
(11,458
)
Forward commodity contracts
(2,057
)
 
(30,366
)
Recognition of (gains) losses in earnings due to settlements:
 
 
 
Interest rate agreements
2,216

 
1,342

Forward commodity contracts
6,576

 
38,232

Total other comprehensive income (loss) from hedging, net of tax(1)
$
86,698

 
$
(2,250
)

 
(1) 
Utilizing an income tax rate ranging from approximately 37 percent to 39 percent based on the effective rates in each taxing jurisdiction.
Expected recognition in earnings of deferred losses in AOCI table
The following amounts, net of deferred taxes, represent the expected recognition in earnings of the deferred gains (losses) recorded in AOCI associated with our financial instruments, based upon the fair values of these financial instruments as of September 30, 2013. However, the table below does not include the expected recognition in earnings of the interest rate agreements entered into in October 2012 as those financial instruments have not yet settled.
 
Interest Rate
Agreements
 
Commodity
Contracts
 
Total
 
(In thousands)
2014
$
(2,686
)
 
$
(3,748
)
 
$
(6,434
)
2015
(804
)
 
(425
)
 
(1,229
)
2016
(634
)
 
(163
)
 
(797
)
2017
(735
)
 
(109
)
 
(844
)
2018
(936
)
 
(31
)
 
(967
)
Thereafter
(24,569
)
 
—

 
(24,569
)
Total(1) 
$
(30,364
)
 
$
(4,476
)
 
$
(34,840
)

 
(1) 
Utilizing an income tax rate ranging from approximately 37 percent to 39 percent based on the effective rates in each taxing jurisdiction.