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Shareholders' Equity
 3 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Shareholders' Equity and Accumulated Other Comprehensive Income Shareholders' Equity

The following tables present a reconciliation of changes in stockholders' equity for the three months ended December 31, 2019 and 2018.
 
Common stock
 
Additional
Paid-in
Capital
 
Accumulated
Other
Comprehensive Income
(Loss)
 
Retained
Earnings
 
Total
 
Number of
Shares
 
Stated
Value
 
 
(In thousands, except share and per share data)
Balance, September 30, 2019
119,338,925

 
$
597

 
$
3,712,194

 
$
(114,583
)
 
$
2,152,015

 
$
5,750,223

Net income
—

 
—

 
—

 
—

 
178,673

 
178,673

Other comprehensive income
—

 
—

 
—

 
1,052

 
—

 
1,052

Cash dividends ($0.575 per share)
—

 
—

 
—

 
—

 
(69,557
)
 
(69,557
)
Common stock issued:
 
 
 
 
 
 
 
 
 
 
 
Public and other stock offerings
2,758,929

 
13

 
263,259

 
—

 
—

 
263,272

Stock-based compensation plans
164,549

 
1

 
4,111

 
—

 
—

 
4,112

Balance, December 31, 2019
122,262,403

 
$
611

 
$
3,979,564

 
$
(113,531
)
 
$
2,261,131

 
$
6,127,775


 
Common stock
 
Additional
Paid-in
Capital
 
Accumulated
Other
Comprehensive Income
(Loss)
 
Retained
Earnings
 
Total
 
Number of
Shares
 
Stated
Value
 
 
(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
—

 
—

 
—

 
(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


Shelf Registration, At-the-Market Equity Sales Program and Equity Issuances
We have a shelf registration statement on file with the Securities and Exchange Commission (SEC) that allows us to issue up to $3.0 billion in common stock and/or debt securities. At December 31, 2019, approximately $0.5 billion of securities remained available for issuance under the shelf registration statement, which expires November 13, 2021.
We also have an at-the-market (ATM) equity sales program that allows us to 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 in connection with the ATM equity sales program), which expires November 13, 2021. During the three months ended December 31, 2019, we executed forward sales under the ATM with various forward sellers who borrowed and sold 339,574 shares of our common stock for $36.8 million. Additionally, during the three months ended December 31, 2019, we settled 2,234,871 shares that had been sold during fiscal 2019 under the ATM for net proceeds of $214.6 million. As of December 31, 2019, the ATM program had approximately $38 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 forward sellers who borrowed and sold 2,668,464 shares of our common stock for $247.5 million. During the three months ended December 31, 2019, we settled the remaining 485,189 shares under these agreements for net proceeds of $44.4 million.
If we had settled all shares that remain available under our various forward sale agreements as of December 31, 2019, we would have received proceeds of $239.6 million, based on a net price of $106.51 per share.
The following table presents information relevant to the forward sales during the first quarter of fiscal 2020.
 
 
Maturity
 
 
 
 
 
September 30, 2020
 
March 31, 2020
 
Total
 
 
Shares
Price(1)
 
Shares
Price(1)
 
Shares
Price(1)
Available Balance
September 30, 2019
 
2,474,162

 
 
2,155,698

 
 
4,629,860

 
Q1 Issuance
 
339,574

$
107.40

 
—

$
—

 
339,574

$
107.40

Q1 Settlement
 
(564,362
)
$
100.21

 
(2,155,698
)
$
93.88

 
(2,720,060
)
$
95.22

Available Balance
December 31, 2019
 
2,249,374

 
 
—

 
 
2,249,374

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Issued price as disclosed is calculated as the weighted average price for activity occurring during the quarter.

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
 
Interest Rate
Agreement
Cash Flow
Hedges
 
Total
 
(In thousands)
September 30, 2019
$
132

 
$
(114,715
)
 
$
(114,583
)
Other comprehensive loss before reclassifications
(1
)
 
—

 
(1
)
Amounts reclassified from accumulated other comprehensive income
—

 
1,053

 
1,053

Net current-period other comprehensive income (loss)
(1
)
 
1,053

 
1,052

December 31, 2019
$
131

 
$
(113,662
)
 
$
(113,531
)

 
 
Available-
for-Sale
Securities
 
Interest Rate
Agreement
Cash Flow
Hedges
 
Total
 
(In thousands)
September 30, 2018
$
8,124

 
$
(91,771
)
 
$
(83,647
)
Other comprehensive loss before reclassifications
—

 
(22,716
)
 
(22,716
)
Amounts reclassified from accumulated other comprehensive income
—

 
458

 
458

Net current-period other comprehensive loss
—

 
(22,258
)
 
(22,258
)
Cumulative effect of accounting change
(8,210
)
 
—

 
(8,210
)
December 31, 2018
$
(86
)
 
$
(114,029
)
 
$
(114,115
)