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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Operating revenues $ 977,665 $ 1,094,645 $ 1,853,228 $ 1,972,427
Purchased gas cost 317,883 471,676 614,751 813,841
Operation and maintenance expense 147,824 149,427 300,069 288,027
Depreciation and amortization expense 105,916 96,772 210,978 192,837
Taxes, other than income 74,604 79,093 143,211 143,581
Operating income 331,438 297,677 584,219 534,141
Other non-operating income (expense) (2,989) 4,232 1,898 (3,491)
Interest charges 22,171 26,949 49,400 54,798
Income before income taxes 306,278 274,960 536,717 475,852
Income tax expense 66,632 60,072 118,398 103,318
Net income $ 239,646 $ 214,888 $ 418,319 $ 372,534
Basic net income per share (USD per share) $ 1.95 $ 1.83 $ 3.43 $ 3.22
Diluted net income per share (USD per share) 1.95 1.82 3.42 3.21
Cash dividends per share (USD per share) $ 0.575 $ 0.525 $ 1.15 $ 1.05
Basic weighted average shares outstanding (in shares) 122,916 117,581 122,015 115,690
Diluted weighted average shares outstanding (in shares) 122,997 117,756 122,179 115,794
Other comprehensive income (loss), net of tax        
Net unrealized holding gains (losses) on available-for-sale securities, net of tax of $(49) and $29 $ (163) $ 97 $ (164) $ 97
Cash flow hedges:        
Amortization and unrealized loss on interest rate agreements, net of tax of $623 and $(7,405) 1,053 (2,792) 2,106 (25,050)
Total other comprehensive income (loss) 890 (2,695) 1,942 (24,953)
Total comprehensive income 240,536 212,193 420,261 347,581
Distribution segment        
Operating revenues 932,296 1,057,192 1,760,136 1,895,373
Pipeline and storage segment        
Operating revenues 45,369 37,453 93,092 77,054
Operating Segments | Distribution segment        
Operating revenues 933,005 1,057,889 1,761,509 1,896,724
Purchased gas cost 418,935 570,348 816,493 1,008,080
Operation and maintenance expense 115,851 117,621 230,203 223,388
Depreciation and amortization expense 76,265 69,904 152,339 139,613
Taxes, other than income 68,413 71,053 128,656 127,243
Operating income 253,541 228,963 433,818 398,400
Other non-operating income (expense) (5,191) 5,263 (3,237) (1,214)
Interest charges 10,797 15,896 27,159 34,106
Income before income taxes 237,553 218,330 403,422 363,080
Income tax expense 50,489 46,137 86,601 76,502
Net income 187,064 172,193 316,821 286,578
Operating Segments | Pipeline and storage segment        
Operating revenues 146,237 135,650 294,413 270,120
Purchased gas cost 202 (90) 301 (448)
Operation and maintenance expense 32,296 32,118 70,517 65,265
Depreciation and amortization expense 29,651 26,868 58,639 53,224
Taxes, other than income 6,191 8,040 14,555 16,338
Operating income 77,897 68,714 150,401 135,741
Other non-operating income (expense) 2,202 (1,031) 5,135 (2,277)
Interest charges 11,374 11,053 22,241 20,692
Income before income taxes 68,725 56,630 133,295 112,772
Income tax expense 16,143 13,935 31,797 26,816
Net income 52,582 42,695 101,498 85,956
Intersegment eliminations        
Operating revenues (101,577) (98,894) (202,694) (194,417)
Purchased gas cost (101,254) (98,582) (202,043) (193,791)
Operation and maintenance expense (323) (312) (651) (626)
Depreciation and amortization expense 0 0 0 0
Taxes, other than income 0 0 0 0
Operating income 0 0 0 0
Other non-operating income (expense) 0 0 0 0
Interest charges 0 0 0 0
Income before income taxes 0 0 0 0
Income tax expense 0 0 0 0
Net income 0 0 0 0
Intersegment eliminations | Distribution segment        
Operating revenues 709 697 1,373 1,351
Intersegment eliminations | Pipeline and storage segment        
Operating revenues 100,868 98,197 201,321 193,066
Natural Gas, US Regulated        
Purchased gas cost 317,883 471,676 614,751 813,841
Natural Gas, US Regulated | Operating Segments | Distribution segment        
Purchased gas cost 418,935 570,348 816,493 1,008,080
Natural Gas, US Regulated | Operating Segments | Pipeline and storage segment        
Purchased gas cost 202 (90) 301 (448)
Natural Gas, US Regulated | Intersegment eliminations        
Purchased gas cost $ (101,254) $ (98,582) $ (202,043) $ (193,791)