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Financial Instruments (Table)
 9 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial instruments on the balance sheet
 
 
 
 
 
Balance Sheet Location
 
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
 
 
8,790

 
(292,171
)
Not Designated As Hedges:
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
21,186

 
(18,812
)
Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
14,165

 
(12,701
)
Total
 
 
35,351

 
(31,513
)
Gross Financial Instruments
 
 
44,141

 
(323,684
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
Contract netting
 
 
(39,290
)
 
39,290

Net Financial Instruments
 
 
4,851

 
(284,394
)
Cash collateral
 
 
6,775

 
43,575

Net Assets/Liabilities from Risk Management Activities
 
 
$
11,626

 
$
(240,819
)
 
The following tables present the fair value and balance sheet classification of our financial instruments as of June 30, 2017 and September 30, 2016. The gross amounts of recognized assets and liabilities are netted within our unaudited Condensed Consolidated Balance Sheets to the extent that we have netting arrangements with the counterparties.
 
 
 
 
 
Balance Sheet Location
 
Assets
 
Liabilities
 
 
 
 (In thousands)
June 30, 2017
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
Interest rate contracts
Deferred credits and other liabilities
 
—

 
(108,860
)
Total
 
 
—

 
(108,860
)
Not Designated As Hedges:
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
2,960

 
(230
)
Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
268

 
(282
)
Total
 
 
3,228

 
(512
)
Gross Financial Instruments
 
 
3,228

 
(109,372
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
Contract netting
 
 
—

 
—

Net Financial Instruments
 
 
3,228

 
(109,372
)
Cash collateral
 
 
—

 
—

Net Assets/Liabilities from Risk Management Activities
 
 
$
3,228

 
$
(109,372
)
Fair value hedges table
The impact of our natural gas marketing segment commodity contracts designated as fair value hedges and the related hedged item on the results of discontinued operations on our condensed consolidated income statement for the three and nine months ended June 30, 2017 and 2016 is presented below.
 
Three Months Ended 
 June 30
 
Nine Months Ended 
 June 30
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Commodity contracts
$
—

 
$
(22,146
)
 
$
(9,567
)
 
$
(11,808
)
Fair value adjustment for natural gas inventory designated as the hedged item
—

 
35,630

 
12,858

 
29,852

Total decrease in purchased gas cost reflected in income from discontinued operations
$
—

 
$
13,484

 
$
3,291

 
$
18,044

The decrease in purchased gas cost reflected in income from discontinued operations is comprised of the following:
 
 
 
 
 
 
 
Basis ineffectiveness
$
—

 
$
(684
)
 
$
(597
)
 
$
(1,490
)
Timing ineffectiveness
—

 
14,168

 
3,888

 
19,534

 
$
—

 
$
13,484

 
$
3,291

 
$
18,044
Cash flow hedges
The impact of our interest rate and natural gas marketing segment cash flow hedges on our condensed consolidated income statements for the three and nine months ended June 30, 2017 and 2016 is presented below.
 
Three Months Ended 
 June 30
 
Nine Months Ended 
 June 30
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
 
 
 
 
Loss reclassified from AOCI for effective portion of natural gas marketing commodity contracts
$
—

 
$
(12,347
)
 
$
(2,612
)
 
$
(48,015
)
Gain arising from ineffective portion of natural gas marketing commodity contracts
—

 
66

 
111

 
84

Gain on discontinuance of cash flow hedging of natural gas marketing commodity contracts reclassified from AOCI
—

 
—

 
10,579

 
—

Total impact on purchased gas cost reflected in income from discontinued operations
—

 
(12,281
)
 
8,078

 
(47,931
)
Net loss on settled interest rate agreements reclassified from AOCI into interest expense
(177
)
 
(137
)
 
(450
)
 
(410
)
Total Impact from Cash Flow Hedges
$
(177
)
 
$
(12,418
)
 
$
7,628

 
$
(48,341
)
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 three and nine months ended June 30, 2017 and 2016. The amounts included in the table below exclude gains and losses arising from ineffectiveness because those amounts are immediately recognized in the income statement as incurred.
 
Three Months Ended 
 June 30
 
Nine Months Ended 
 June 30
 
2017
 
2016
 
2017
 
2016
 
(In thousands)
Increase (decrease) in fair value:
 
 
 
 
 
 
 
Interest rate agreements
$
(18,669
)
 
$
(39,337
)
 
$
76,602

 
$
(88,345
)
Forward commodity contracts
—

 
10,573

 
9,847

 
(8,612
)
Recognition of (gains) losses in earnings due to settlements:
 
 
 
 
 
 
 
Interest rate agreements
113

 
87

 
286

 
260

Forward commodity contracts
—

 
7,532

 
(4,865
)
 
29,290

Total other comprehensive income (loss) from hedging, net of tax(1)
$
(18,556
)
 
$
(21,145
)
 
$
81,870

 
$
(67,407
)

 
(1)
Utilizing an income tax rate ranging from 37 percent to 39 percent based on the effective rates in each taxing jurisdiction.
Expected recognition in earnings of deferred gains/(losses) in AOCI table
The following amounts, net of deferred taxes, represent the expected recognition in earnings of the deferred losses recorded in AOCI associated with our financial instruments, based upon the fair values of these financial instruments as of June 30, 2017. However, the table below does not include the expected recognition in earnings of our outstanding interest rate agreements as those instruments have not yet settled.
 
Interest Rate
Agreements
 
(In thousands)
Next twelve months
$
(1,509
)
Thereafter
(40,001
)
Total(1) 
$
(41,510
)

 
(1)
Utilizing an income tax rate of 37 percent