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Financial Instruments (Table)
 12 Months Ended
Sep. 30, 2016
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 distribution risk management assets and liabilities at September 30, 2016 and 2015. Natural gas marketing's risk management assets and liabilities have been classified as held for sale at September 30, 2016 and 2015 related to the divestiture of our natural gas marketing business. These risk management assets and liabilities are detailed in Note 15.
 
Distribution
 
(In thousands)
September 30, 2016
 
Assets from risk management activities, current
$
3,029

Assets from risk management activities, noncurrent
1,822

Liabilities from risk management activities, current(1)
(56,771
)
Liabilities from risk management activities, noncurrent(1)
(184,048
)
Net assets (liabilities)
$
(235,968
)
September 30, 2015
 
Assets from risk management activities, current
$
378

Assets from risk management activities, noncurrent
368

Liabilities from risk management activities, current
(9,568
)
Liabilities from risk management activities, noncurrent
(110,539
)
Net assets (liabilities)
$
(119,361
)

 
(1) 
Includes $25.7 million of cash held on deposit to collateralize certain distribution financial instruments, which were used to offset current and noncurrent risk management liabilities.
Outstanding commodity contracts volumes table
As of September 30, 2016, we had net long/(short) commodity contracts outstanding in the following quantities:
Contract Type
 
Hedge
Designation
 
Distribution
 
Natural Gas Marketing
 
 
 
 
Quantity (MMcf)
Commodity contracts
 
Fair Value
 
—

 
(19,395
)
 
 
Cash Flow
 
—

 
39,278

 
 
Not designated
 
18,595

 
71,147

 
 
 
 
18,595

 
91,030
Financial instruments on the balance sheet
The following tables present the fair value and balance sheet classification of our financial instruments as of September 30, 2016 and 2015. The gross amounts of recognized assets and liabilities are netted within our Consolidated Balance Sheets to the extent that we have netting arrangements with the counterparties.
 
 
 
Distribution
 
Natural Gas Marketing
 
Balance Sheet Location (1)
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
 
 
 (In thousands)
September 30, 2016
 
 
 
 
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
$
—

 
$
—

 
$
6,612

 
$
(21,903
)
Interest rate contracts
Other current assets /
Other current liabilities
 
—

 
(68,481
)
 
—

 
—

Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
—

 
—

 
2,178

 
(3,779
)
Interest rate contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
—

 
(198,008
)
 
—

 
—

Total
 
 
—

 
(266,489
)
 
8,790

 
(25,682
)
Not Designated As Hedges:
 
 
 
 
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
3,029

 
—

 
18,157

 
(18,812
)
Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
1,822

 
—

 
12,343

 
(12,701
)
Total
 
 
4,851

 
—

 
30,500

 
(31,513
)
Gross Financial Instruments
 
 
4,851

 
(266,489
)
 
39,290

 
(57,195
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
 
 
 
 
Contract netting
 
 
—

 
—

 
(39,290
)
 
39,290

Net Financial Instruments
 
 
4,851

 
(266,489
)
 
—

 
(17,905
)
Cash collateral
 
 
—

 
25,670

 
6,775

 
17,905

Net Assets/Liabilities from Risk Management Activities
 
 
$
4,851

 
$
(240,819
)
 
$
6,775

 
$
—


 
(1) 
Natural gas marketing's risk management assets and liabilities have been classified as held for sale at September 30, 2016 related to the divestiture of our natural gas marketing business.
 
 
 
Distribution
 
Natural Gas Marketing
 
Balance Sheet Location (1)
 
Assets
 
Liabilities
 
Assets
 
Liabilities
 
 
 
 (In thousands)
September 30, 2015
 
 
 
 
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
$
—

 
$
—

 
$
11,680

 
$
(36,067
)
Interest rate contracts
Other current assets /
Other current liabilities
 
—

 
—

 
—

 
—

Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
—

 
—

 
126

 
(9,918
)
Interest rate contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
—

 
(110,539
)
 
—

 
—

Total
 
 
—

 
(110,539
)
 
11,806

 
(45,985
)
Not Designated As Hedges:
 
 
 
 
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
378

 
(9,568
)
 
65,239

 
(65,780
)
Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
368

 
—

 
14,318

 
(14,218
)
Total
 
 
746

 
(9,568
)
 
79,557

 
(79,998
)
Gross Financial Instruments
 
 
746

 
(120,107
)
 
91,363

 
(125,983
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
 
 
 
 
Contract netting
 
 
—

 
—

 
(91,363
)
 
91,363

Net Financial Instruments
 
 
746

 
(120,107
)
 
—

 
(34,620
)
Cash collateral
 
 
—

 
—

 
8,854

 
34,620

Net Assets/Liabilities from Risk Management Activities
 
 
$
746

 
$
(120,107
)
 
$
8,854

 
$
—



(1) 
Natural gas marketing's risk management assets and liabilities have been classified as held for sale at September 30, 2015 related to the divestiture of our natural gas marketing business.
Fair value hedges table
The impact of our natural gas marketing commodity contracts designated as fair value hedges and the related hedged item on the results of discontinued operations on our consolidated income statement for the years ended September 30, 2016, 2015 and 2014 is presented below.
 
Fiscal Year Ended September 30
 
2016
 
2015
 
2014
 
(In thousands)
Commodity contracts
$
3,516

 
$
10,311

 
$
(792
)
Fair value adjustment for natural gas inventory designated as the hedged item
18,079

 
(9,768
)
 
2,486

Total decrease in purchased gas cost reflected in income from discontinued operations
$
21,595

 
$
543

 
$
1,694

The decrease in purchased gas cost reflected in income from discontinued operations is comprised of the following:
 
 
 
 
 
Basis ineffectiveness
$
(1,390
)
 
$
811

 
$
(919
)
Timing ineffectiveness
22,985

 
(268
)
 
2,613

 
$
21,595

 
$
543

 
$
1,694
Cash flow hedges table
The impact of cash flow hedges on our consolidated income statements for the years ended September 30, 2016, 2015 and 2014 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
 
2016
 
2015
 
2014
 
(In thousands)
Gain (loss) reclassified from AOCI for effective portion of natural gas marketing commodity contracts
$
(52,651
)
 
$
(41,716
)
 
$
8,365

Gain (loss) arising from ineffective portion of natural gas marketing commodity contracts
(19
)
 
(325
)
 
198

Total impact on purchased gas cost reflected in income from discontinued operations
(52,670
)
 
(42,041
)
 
8,563

Net loss on settled distribution interest rate agreements reclassified from AOCI into interest expense
(546
)
 
(853
)
 
(4,230
)
Total impact from cash flow hedges
$
(53,216
)
 
$
(42,894
)
 
$
4,333
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, 2016 and 2015. 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
 
2016
 
2015
 
(In thousands)
Decrease in fair value:
 
 
 
Interest rate agreements
$
(99,029
)
 
$
(71,003
)
Forward commodity contracts
(11,662
)
 
(49,211
)
Recognition of losses in earnings due to settlements:
 
 
 
Interest rate agreements
347

 
542

Forward commodity contracts
32,117

 
25,448

Total other comprehensive income (loss) from hedging, net of tax(1)
$
(78,227
)
 
$
(94,224
)

 
(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, 2016. However, the table below does not include the expected recognition in earnings of our outstanding interest rate agreements as those financial instruments have not yet settled.
 
Interest Rate
Agreements
 
Commodity
Contracts
 
Total
 
(In thousands)
2017
$
(447
)
 
$
(3,983
)
 
$
(4,430
)
2018
(649
)
 
(561
)
 
(1,210
)
2019
(673
)
 
(414
)
 
(1,087
)
2020
(698
)
 
(26
)
 
(724
)
2021
(698
)
 
2

 
(696
)
Thereafter
(15,139
)
 
—

 
(15,139
)
Total(1) 
$
(18,304
)
 
$
(4,982
)
 
$
(23,286
)

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