Shareholders' Equity

Shelf Registration, At-the-Market Equity Sales Program and Equity Issuance

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 expires March 28, 2019. At March 31, 2018, approximately $1.2 billion of securities remained available for issuance under the shelf registration statement.

On November 14, 2017, we filed a prospectus supplement under the registration statement relating to an at-the-market (ATM) equity sales program under which we may issue and sell shares of our common stock up to an aggregate offering price of $500 million, which expires March 28, 2019. During the six months ended March 31, 2018, no shares of common stock were sold under the ATM program.

On November 30, 2017, we filed a prospectus supplement under the registration statement relating to an underwriting agreement to sell 4,558,404 shares of our common stock. We received aggregate gross proceeds of $400 million and received net proceeds, after expenses, of $395.1 million from the offering.

Accumulated Other Comprehensive Income (Loss)

We record deferred gains (losses) in AOCI related to available-for-sale securities, interest rate cash flow hedges and prior to the sale of Atmos Energy Marketing, LLC (AEM) on January 3, 2017, 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 (loss):



	Available- for-Sale Securities			Interest Rate Agreement Cash Flow Hedges			Total
	(In thousands)
September 30, 2017	$	7,048		$	(112,302	)	$	(105,254	)
Other comprehensive income (loss) before reclassifications	(167		)	20,454			20,287
Amounts reclassified from accumulated other comprehensive income	(879		)	835			(44		)
Net current-period other comprehensive income (loss)	(1,046		)	21,289			20,243
March 31, 2018	$	6,002		$	(91,013	)	$	(85,011	)



	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 before reclassifications	634		95,271			9,847			105,752
Amounts reclassified from accumulated other comprehensive income	68		173			(4,865		)	(4,624		)
Net current-period other comprehensive income	702		95,444			4,982			101,128
March 31, 2017	$	5,186	$	(92,080	)	$	—		$	(86,894	)

The following tables detail reclassifications out of AOCI for the three and six months ended March 31, 2018 and 2017. Amounts in parentheses below indicate decreases to net income in the statement of income:



	Three Months Ended March 31, 2018
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	$	1,139		Operation and maintenance expense
	1,139			Total before tax
	(260		)	Tax expense
	$	879		Net of tax
Cash flow hedges
Interest rate agreements	$	(593	)	Interest charges
	(593		)	Total before tax
	135			Tax benefit
	$	(458	)	Net of tax
Total reclassifications	$	421		Net of tax



	Three Months Ended March 31, 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	$	(107	)	Operation and maintenance expense
	(107		)	Total before tax
	39			Tax benefit
	$	(68	)	Net of tax
Cash flow hedges
Interest rate agreements	$	(136	)	Interest charges
	(136		)	Total before tax
	50			Tax benefit
	$	(86	)	Net of tax
Total reclassifications	$	(154	)	Net of tax



	Six Months Ended March 31, 2018
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	$	1,139		Operation and maintenance expense
	1,139			Total before tax
	(260		)	Tax expense
	$	879		Net of tax
Cash flow hedges
Interest rate agreements	$	(1,187	)	Interest charges
	(1,187		)	Total before tax
	352			Tax benefit
	$	(835	)	Net of tax
Total reclassifications	$	44		Net of tax



	Six Months Ended March 31, 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	$	(107	)	Operation and maintenance expense
	(107		)	Total before tax
	39			Tax benefit
	$	(68	)	Net of tax
Cash flow hedges
Interest rate agreements	$	(273	)	Interest charges
Commodity contracts	7,967			Purchased gas cost⁽¹⁾
	7,694			Total before tax
	(3,002		)	Tax expense
	$	4,692		Net of tax
Total reclassifications	$	4,624		Net of tax


(1)	Amount is presented as part of income from discontinued operations in the condensed consolidated statement of income.