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Fair Value Measurements (Table)
 3 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair value measurements table
The following tables summarize, by level within the fair value hierarchy, our assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2016 and September 30, 2016. Assets and liabilities are categorized in their entirety based on the lowest level of input that is significant to the fair value measurement.
 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)(1)
 
Significant
Other
Unobservable
Inputs
(Level 3)
 
Netting and
Cash
Collateral(2)
 
December 31, 2016
 
(In thousands)
Assets:
 
 
 
 
 
 
 
 
 
Financial instruments
$
—

 
$
109,023

 
$
—

 
$
(94,053
)
 
$
14,970

Hedged portion of gas stored underground
76,735

 
—

 
—

 
—

 
76,735

Available-for-sale securities
 
 
 
 
 
 
 
 
 
Registered investment companies
38,836

 
—

 
—

 
—

 
38,836

Bond mutual funds
10,378

 
—

 
—

 
—

 
10,378

Bonds
—

 
31,303

 
—

 
—

 
31,303

Money market funds
—

 
1,613

 
—

 
—

 
1,613

Total available-for-sale securities
49,214

 
32,916

 
—

 
—

 
82,130

Total assets
$
125,949

 
$
141,939

 
$
—

 
$
(94,053
)
 
$
173,835

Liabilities:
 
 
 
 
 
 
 
 
 
Financial instruments
$
—

 
$
230,745

 
$
—

 
$
(107,750
)
 
$
122,995

 
Quoted
Prices in
Active
Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)(1)
 
Significant
Other
Unobservable
Inputs
(Level 3)
 
Netting and
Cash
Collateral(3)
 
September 30, 2016
 
(In thousands)
Assets:
 
 
 
 
 
 
 
 
 
Financial instruments
$
—

 
$
44,141

 
$
—

 
$
(32,515
)
 
$
11,626

Hedged portion of gas stored underground
52,578

 
—

 
—

 
—

 
52,578

Available-for-sale securities
 
 
 
 
 
 
 
 
 
Registered investment companies
38,677

 
—

 
—

 
—

 
38,677

Bonds
—

 
31,394

 
—

 
—

 
31,394

Money market funds
—

 
2,630

 
—

 
—

 
2,630

Total available-for-sale securities
38,677

 
34,024

 
—

 
—

 
72,701

Total assets
$
91,255

 
$
78,165

 
$
—

 
$
(32,515
)
 
$
136,905

Liabilities:
 
 
 
 
 
 
 
 
 
Financial instruments
$
—

 
$
323,684

 
$
—

 
$
(82,865
)
 
$
240,819


 
(1) 
Our Level 2 measurements consist of over-the-counter options and swaps which are valued using a market-based approach in which observable market prices are adjusted for criteria specific to each instrument, such as the strike price, notional amount or basis differences, municipal and corporate bonds which are valued based on the most recent available quoted market prices and money market funds which are valued at cost.
(2) 
This column reflects adjustments to our gross financial instrument assets and liabilities to reflect netting permitted under our master netting agreements and the relevant authoritative accounting literature. As of December 31, 2016, we had $13.7 million of cash held in margin accounts to collateralize certain financial instruments. Of this amount, $9.9 million was used to offset current and noncurrent risk management liabilities under master netting arrangements with the remaining $3.8 million classified as current risk management assets.
(3) 
This column reflects adjustments to our gross financial instrument assets and liabilities to reflect netting permitted under our master netting agreements and the relevant authoritative accounting literature. As of September 30, 2016, we had $50.4 million of cash held in margin accounts to collateralize certain financial instruments. Of this amount, $43.6 million was used to offset current and noncurrent risk management liabilities under master netting arrangements with the remaining $6.8 million is classified as current risk management assets.
Schedule of Available-for-sale Securities Reconciliation Table
Available-for-sale securities are comprised of the following:
 
Amortized
Cost
 
Gross
Unrealized
Gain
 
Gross
Unrealized
Loss
 
Fair
Value
 
(In thousands)
As of December 31, 2016
 
 
 
 
 
 
 
Domestic equity mutual funds
$
27,792

 
$
5,853

 
$
(903
)
 
$
32,742

Foreign equity mutual funds
5,102

 
992

 
—

 
6,094

Bond mutual funds
10,428

 
—

 
(50
)
 
10,378

Bonds
31,380

 
19

 
(96
)
 
31,303

Money market funds
1,613

 
—

 
—

 
1,613

 
$
76,315

 
$
6,864

 
$
(1,049
)
 
$
82,130

As of September 30, 2016
 
 
 
 
 
 
 
Domestic equity mutual funds
$
26,692

 
$
6,419

 
$
(590
)
 
$
32,521

Foreign equity mutual funds
4,954

 
1,202

 
—

 
6,156

Bonds
31,296

 
108

 
(10
)
 
31,394

Money market funds
2,630

 
—

 
—

 
2,630

 
$
65,572

 
$
7,729

 
$
(600
)
 
$
72,701
Other fair value measurements table
The following table presents the carrying value and fair value of our debt as of December 31, 2016 and September 30, 2016:
 
December 31, 2016
 
September 30, 2016
 
(In thousands)
Carrying Amount
$
2,585,000

 
$
2,460,000

Fair Value
$
2,788,228

 
$
2,844,990