Shareholders' Equity

The following tables present a reconciliation of changes in stockholders' equity for the three and six months ended March 31, 2019 and 2018.



	Common stock			Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Total
	Number of Shares	Stated Value		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Total
	(In thousands, except share and per share data)
Balance, September 30, 2018	111,273,683	$	556	$	2,974,926	$	(83,647	)	$	1,878,116		$	4,769,951
Net income	—	—		—		—			157,646			157,646
Other comprehensive loss	—	—		—		(22,258		)	—			(22,258		)
Cash dividends ($0.525 per share)	—	—		—		—			(58,722		)	(58,722		)
Cumulative effect of accounting change (See Note 2)	—	—		—		(8,210		)	8,210			—
Common stock issued:
Public and other stock offerings	5,434,812	27		498,948		—			—			498,975
Stock-based compensation plans	184,464	1		2,602		—			—			2,603
Balance, December 31, 2018	116,892,959	584		3,476,476		(114,115		)	1,985,250			5,348,195
Net income	—	—		—		—			214,888			214,888
Other comprehensive loss	—	—		—		(2,695		)	—			(2,695		)
Cash dividends ($0.525 per share)	—	—		—		—			(61,606		)	(61,606		)
Common stock issued:
Public and other stock offerings	61,006	1		5,453		—			—			5,454
Stock-based compensation plans	28,938	—		3,865		—			—			3,865
Balance, March 31, 2019	116,982,903	$	585	$	3,485,794	$	(116,810	)	$	2,138,532		$	5,508,101



	Common stock			Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Total
	Number of Shares	Stated Value		Additional Paid-in Capital		Accumulated Other Comprehensive Income (Loss)			Retained Earnings			Total
	(In thousands, except share and per share data)
Balance, September 30, 2017	106,104,634	$	531	$	2,536,365	$	(105,254	)	$	1,467,024		$	3,898,666
Net income	—	—		—		—			314,132			314,132
Other comprehensive loss	—	—		—		(1,062		)	—			(1,062		)
Cash dividends ($0.485 per share)	—	—		—		—			(51,837		)	(51,837		)
Common stock issued:
Public and other stock offerings	4,621,518	22		400,737		—			—			400,759
Stock-based compensation plans	235,960	2		2,960		—			—			2,962
Balance, December 31, 2017	110,962,112	555		2,940,062		(106,316		)	1,729,319			4,563,620
Net income	—	—		—		—			178,992			178,992
Other comprehensive income	—	—		—		21,305			—			21,305
Cash dividends ($0.485 per share)	—	—		—		—			(54,054		)	(54,054		)
Common stock issued:
Public and other stock offerings	76,776	—		6,235		—			—			6,235
Stock-based compensation plans	21,440	—		5,248		—			—			5,248
Balance, March 31, 2018	111,060,328	$	555	$	2,951,545	$	(85,011	)	$	1,854,257		$	4,721,346

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

On November 13, 2018, we filed a registration statement with the Securities and Exchange Commission (SEC) to issue, from time to time, up to $3.0 billion in common stock and/or debt securities, which expires November 13, 2021. This registration statement replaced our previous registration statement that was effectively exhausted in October 2018. At March 31, 2019, approximately $1.3 billion of securities remained available for issuance under the shelf registration statement.

On November 19, 2018, 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 (including shares of common stock that may be sold pursuant to a forward sale agreement entered into concurrently with the ATM equity sales program), which expires November 13, 2021.

In February 2019, under the ATM program, we executed forward sale agreements through the ATM with various underwriters who borrowed and sold 1,670,509 shares of our common stock at a weighted average price of $95.46 per share. Under the agreements we have the ability to settle these shares before March 31, 2020 at a price based on the offering price established on the trade dates. As of March 31, 2019, no shares of common stock from these forward sale agreements had been settled. If we had settled all shares under these forward sale agreements at March 31, 2019, we would have received approximately $159.0 million, based on a net price of $95.19 per share.

As of March 31, 2019, the ATM program (including the impact of the forward sale transactions discussed above) had approximately $340 million of equity available for issuance.

On November 30, 2018, we filed a prospectus supplement under the registration statement relating to an underwriting agreement to sell 5,390,836 shares of our common stock for $500 million. After expenses, net proceeds from the offering were $494.1 million. Concurrently, we entered into separate forward sale agreements with two underwriters who borrowed and sold 2,668,464 shares of our common stock. Under the agreements we have the ability to settle these shares before March 31, 2020 at a price based on the offering price established on November 28, 2018. As of March 31, 2019, no shares of common stock were settled under the forward sale agreements. If we had settled all shares under the forward agreements at March 31, 2019, we would have received approximately $244.8 million, based on a net price of $91.75 per share.

On November 30, 2017, we filed a prospectus supplement under the previous registration statement relating to an underwriting agreement to sell 4,558,404 shares of our common stock for $400 million. After expenses, net proceeds from the offering were $395.1 million.

Accumulated Other Comprehensive Income (Loss)

We record deferred gains (losses) in AOCI related to available-for-sale debt securities and interest rate agreement cash flow hedges. Deferred gains (losses) for our available-for-sale debt securities 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⁽¹⁾			Interest Rate Agreement Cash Flow Hedges			Total
	(In thousands)
September 30, 2018	$	8,124		$	(91,771	)	$	(83,647	)
Other comprehensive income (loss) before reclassifications	97			(25,966		)	(25,869		)
Amounts reclassified from accumulated other comprehensive income	—			916			916
Net current-period other comprehensive income (loss)	97			(25,050		)	(24,953		)
Cumulative effect of accounting change (See Note 2)	(8,210		)	—			(8,210		)
March 31, 2019	$	11		$	(116,821	)	$	(116,810	)



	Available- for-Sale Securities⁽¹⁾			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	)


(1)	Available-for-sale-securities reported in fiscal 2018 include both debt and equity securities, while fiscal 2019 includes only debt securities. See Note 2 for further discussion regarding our adoption of the new accounting standard.