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Financial Instruments (Table)
 12 Months Ended
Sep. 30, 2017
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 risk management assets and liabilities at September 30, 2017 and 2016. Risk management assets and liabilities associated with our former natural gas marketing operations have been classified as held for sale at September 30, 2016. These risk management assets and liabilities are presented in Note 15.
 
September 30
 
2017
 
2016
 
(In thousands)
 
 
 
 
Assets from risk management activities, current
$
2,436

 
$
3,029

Assets from risk management activities, noncurrent
803

 
1,822

Liabilities from risk management activities, current(1)
(322
)
 
(56,771
)
Liabilities from risk management activities, noncurrent(1)
(112,076
)
 
(184,048
)
Net assets (liabilities)
$
(109,159
)
 
$
(235,968
)

 
(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
Financial instruments on the balance sheet
 
 
 
 
 
Balance Sheet Location
 
Assets
 
Liabilities
 
 
 
 (In thousands)
September 30, 2016
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
Commodity contracts
Current assets of disposal group classified as held for sale / Current liabilities of disposal group classified as held for sale
 
$
6,612

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

 
(68,481
)
Commodity contracts
Noncurrent assets of disposal group classified as held for sale / Noncurrent liabilities of disposal group classified as held for sale
 
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
 
3,029

 
—

Commodity contracts
Current assets of disposal group classified as held for sale / Current liabilities of disposal group classified as held for sale

 
18,157

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

 
—

Commodity contracts
Noncurrent assets of disposal group classified as held for sale / Noncurrent liabilities of disposal group classified as held for sale
 
12,343

 
(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 September 30, 2017 and 2016. 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.
 
 
 
 
 
Balance Sheet Location
 
Assets
 
Liabilities
 
 
 
 (In thousands)
September 30, 2017
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
Interest rate contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
$
—

 
$
(112,076
)
Total
 
 
—

 
(112,076
)
Not Designated As Hedges:
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
2,436

 
(322
)
Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
803

 
—

Total
 
 
3,239

 
(322
)
Gross Financial Instruments
 
 
3,239

 
(112,398
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
Contract netting
 
 
—

 
—

Net Financial Instruments
 
 
3,239

 
(112,398
)
Cash collateral
 
 
—

 
—

Net Assets/Liabilities from Risk Management Activities
 
 
$
3,239

 
$
(112,398
)
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 consolidated income statement for the years ended September 30, 2017, 2016 and 2015 is presented below.
 
Fiscal Year Ended September 30
 
2017
 
2016
 
2015
 
(In thousands)
Commodity contracts
$
(9,567
)
 
$
3,516

 
$
10,311

Fair value adjustment for natural gas inventory designated as the hedged item
12,858

 
18,079

 
(9,768
)
Total decrease in purchased gas cost reflected in income from discontinued operations
$
3,291

 
$
21,595

 
$
543

The decrease in purchased gas cost reflected in income from discontinued operations is comprised of the following:
 
 
 
 
 
Basis ineffectiveness
$
(597
)
 
$
(1,390
)
 
$
811

Timing ineffectiveness
3,888

 
22,985

 
(268
)
 
$
3,291

 
$
21,595

 
$
543
Cash flow hedges table
The impact of cash flow hedges on our consolidated income statements for the years ended September 30, 2017, 2016 and 2015 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
 
2017
 
2016
 
2015
 
(In thousands)
Loss reclassified from AOCI for effective portion of natural gas marketing commodity contracts
$
(2,612
)
 
$
(52,651
)
 
$
(41,716
)
Gain (loss) arising from ineffective portion of natural gas marketing commodity contracts
111

 
(19
)
 
(325
)
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
8,078

 
(52,670
)
 
(42,041
)
Net loss on settled interest rate agreements reclassified from AOCI into interest expense
(1,043
)
 
(546
)
 
(853
)
Total impact from cash flow hedges
$
7,035

 
$
(53,216
)
 
$
(42,894
)

 
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, 2017 and 2016. 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
 
2017
 
2016
 
(In thousands)
Increase (decrease) in fair value:
 
 
 
Interest rate agreements
$
74,560

 
$
(99,029
)
Forward commodity contracts
9,847

 
(11,662
)
Recognition of (gains) losses in earnings due to settlements:
 
 
 
Interest rate agreements
662

 
347

Forward commodity contracts
(4,865
)
 
32,117

Total other comprehensive income (loss) from hedging, net of tax(1)
$
80,204

 
$
(78,227
)

 
(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, 2017. 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
 
(In thousands)
2018
$
(1,509
)
2019
(1,533
)
2020
(1,557
)
2021
(1,557
)
2022
(1,557
)
Thereafter
(33,420
)
Total(1) 
$
(41,133
)

 
(1)
Utilizing an income tax rate of 37 percent.