Discontinued Operations

12 Months Ended

Sep. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On April 1, 2013, we completed the sale of substantially all of our regulated distribution assets and certain related nonregulated assets located in Georgia to Liberty Energy (Georgia) Corp., an affiliate of Algonquin Power & Utilities Corp. for a cash price of approximately $153 million, pursuant to an asset purchase agreement executed on August 8, 2012. In connection with the sale, we recognized a pre-tax gain of approximately $8.2 million.

As required under generally accepted accounting principles, the operating results of our Georgia operations for the year ended September 30, 2013 have been aggregated and reported on the consolidated statements of income as income from discontinued operations, net of income tax. Expenses related to general corporate overhead and interest expense allocated to their operations are not included in discontinued operations.

The following table presents statement of income data related to discontinued operations in our Georgia service area for the year ended September 30, 2013.

	Year Ended September 30, 2013
	(In thousands)
Operating revenues	$	37,962
Purchased gas cost	21,464
Gross profit	16,498
Operating expenses	5,858
Operating income	10,640
Other nonoperating income	548
Income from discontinued operations before income taxes	11,188
Income tax expense	3,986
Income from discontinued operations	7,202
Gain on sale of discontinued operations, net of tax	5,294
Net income from discontinued operations	$	12,496