Shelf Registration

On March 28, 2016, we filed a registration statement with the Securities and Exchange Commission (SEC) that originally permitted us to issue, from time to time, up to $2.5 billion in common stock and/or debt securities, which replaced our registration statement that expired on March 28, 2016. At September 30, 2017, $1.6 billion of securities remain available for issuance under the shelf registration statement.

At-the-Market Equity Sales Program

On March 28, 2016, we entered into an at-the-market (ATM) equity distribution agreement (the Agreement) with Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. in their capacity as agents and/or as principals (Agents). Under the terms of the Agreement, we were permitted to issue and sell, through any of the Agents, shares of our common stock, up to an aggregate offering price of $200 million, through the period ended March 28, 2019. During fiscal 2017, we sold 1,303,494 shares of common stock under the ATM program for $100.0 million and received net proceeds of $98.8 million. During fiscal 2016, we sold 1,360,756 shares of common stock under the ATM program for $100.0 million and received net proceeds of $98.6 million. The shares were issued pursuant to our shelf registration statement filed with the SEC on March 28, 2016. At September 30, 2017, substantially all shares had been issued under our ATM program.

1998 Long-Term Incentive Plan

In August 1998, the Board of Directors approved and adopted the 1998 Long-Term Incentive Plan (LTIP), which became effective in October 1998 after approval by our shareholders. The LTIP is a comprehensive, long-term incentive compensation plan providing for discretionary awards of incentive stock options, non-qualified stock options, stock appreciation rights, bonus stock, time-lapse restricted stock, time-lapse restricted stock units, performance-based restricted stock units and stock units to certain employees and non-employee directors of the Company and our subsidiaries. The objectives of this plan include attracting and retaining the best available personnel, providing for additional performance incentives and promoting our success by providing employees with the opportunity to acquire our common stock.

As of September 30, 2015, we were authorized to grant awards for up to a maximum of 8.7 million shares of common stock under this plan subject to certain adjustment provisions. In February 2016, our shareholders voted to increase the number of authorized LTIP shares by 2.5 million shares and to extend the term of the plan for an additional five years, through September 2021. On March 29, 2016, we filed with the SEC a registration statement on Form S-8 to register the additional 2.5 million shares; we also listed such shares with the New York Stock Exchange. As of September 30, 2017, we were authorized to grant awards for up to a maximum of 11.2 million shares of common stock under this plan subject to certain adjustment provisions.

Accumulated Other Comprehensive Income (Loss)

We record deferred gains (losses) in accumulated other comprehensive income (AOCI) related to available-for-sale securities, interest rate agreement cash flow hedges and commodity contract cash flow hedges. Deferred gains (losses) for our available-for-sale securities and commodity contract cash flow hedges are recognized in earnings upon settlement, while deferred gains (losses) related to our interest rate agreement cash flow hedges are recognized in earnings as they are amortized. The following tables provide the components of our accumulated other comprehensive income (loss) balances, net of the related tax effects allocated to each component of other comprehensive income.



	Available- for-Sale Securities		Interest Rate Agreement Cash Flow Hedges			Commodity Contracts Cash Flow Hedges			Total
	(In thousands)
September 30, 2016	$	4,484	$	(187,524	)	$	(4,982	)	$	(188,022	)
Other comprehensive income (loss) before reclassifications	2,502		74,560			9,847			86,909
Amounts reclassified from accumulated other comprehensive income	62		662			(4,865		)	(4,141		)
Net current-period other comprehensive income	2,564		75,222			4,982			82,768
September 30, 2017	$	7,048	$	(112,302	)	$	—		$	(105,254	)



	Available- for-Sale Securities			Interest Rate Agreement Cash Flow Hedges			Commodity Contracts Cash Flow Hedges			Total
	(In thousands)
September 30, 2015	$	4,949		$	(88,842	)	$	(25,437	)	$	(109,330	)
Other comprehensive income (loss) before reclassifications	(263		)	(99,029		)	(11,662		)	(110,954		)
Amounts reclassified from accumulated other comprehensive income	(202		)	347			32,117			32,262
Net current-period other comprehensive income (loss)	(465		)	(98,682		)	20,455			(78,692		)
September 30, 2016	$	4,484		$	(187,524	)	$	(4,982	)	$	(188,022	)

The following tables detail reclassifications out of AOCI for the fiscal years ended September 30, 2017 and 2016. Amounts in parentheses below indicate decreases to net income in the statement of income.



	Fiscal Year Ended September 30, 2017
Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement of Income
	(In thousands)
Available-for-sale securities	$	(97	)	Operation and maintenance expense
	(97		)	Total before tax
	35			Tax benefit
	$	(62	)	Net of tax
Cash flow hedges
Interest rate agreements	$	(1,043	)	Interest charges
Commodity contracts	7,967			Purchased gas cost⁽¹⁾
	6,924			Total before tax
	(2,721		)	Tax expense
	$	4,203		Net of tax
Total reclassifications	$	4,141		Net of tax



	Fiscal Year Ended September 30, 2016
Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement of Income
	(In thousands)
Available-for-sale securities	$	318		Operation and maintenance expense
	318			Total before tax
	(116		)	Tax expense
	$	202		Net of tax
Cash flow hedges
Interest rate agreements	$	(546	)	Interest charges
Commodity contracts	(52,651		)	Purchased gas cost⁽¹⁾
	(53,197		)	Total before tax
	20,733			Tax benefit
	$	(32,464	)	Net of tax
Total reclassifications	$	(32,262	)	Net of tax


(1)	Amounts are presented as part of income from discontinued operations on the consolidated statements of income.