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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues $ 492,995 $ 485,738 $ 2,346,223 $ 2,458,165
Purchased gas cost 26,072 31,326 640,823 845,167
Operation and maintenance expense 149,460 164,545 449,529 452,572
Depreciation and amortization expense 107,104 97,700 318,082 290,537
Taxes, other than income 71,324 69,965 214,535 213,546
Operating income 139,035 122,202 723,254 656,343
Other non-operating income 7,235 1,645 9,133 (1,846)
Interest charges 19,580 19,592 68,980 74,390
Income before income taxes 126,690 104,255 663,407 580,107
Income tax expense 8,899 23,789 127,297 127,107
Net income $ 117,791 $ 80,466 $ 536,110 $ 453,000
Basic net income per share (USD per share) $ 0.96 $ 0.68 $ 4.38 $ 3.89
Diluted net income per share (USD per share) 0.96 0.68 4.37 3.88
Cash dividends per share (USD per share) $ 0.575 $ 0.525 $ 1.725 $ 1.575
Basic weighted average shares outstanding (in shares) 123,026 118,075 122,352 116,485
Diluted weighted average shares outstanding (in shares) 123,032 118,430 122,463 116,673
Other comprehensive income (loss), net of tax        
Net unrealized holding gains on available-for-sale securities, net of tax $ 364 $ 94 $ 200 $ 191
Cash flow hedges:        
Amortization and unrealized gain (loss) on interest rate agreements, net of tax (4,450) 1,053 (2,344) (23,997)
Total other comprehensive income (loss) (4,086) 1,147 (2,144) (23,806)
Total comprehensive income 113,705 81,613 533,966 429,194
Distribution segment        
Operating revenues 434,650 444,287 2,194,786 2,339,660
Pipeline and storage segment        
Operating revenues 58,345 41,451 151,437 118,505
Operating Segments | Distribution segment        
Operating revenues 435,308 444,944 2,196,817 2,341,668
Purchased gas cost 126,093 139,518 942,586 1,147,598
Operation and maintenance expense 107,537 123,998 337,740 347,386
Depreciation and amortization expense 77,187 70,611 229,526 210,224
Taxes, other than income 61,980 62,134 190,636 189,377
Operating income 62,511 48,683 496,329 447,083
Other non-operating income 5,167 3,005 1,930 1,791
Interest charges 7,969 10,597 35,128 44,703
Income before income taxes 59,709 41,091 463,131 404,171
Income tax expense 810 8,693 87,411 85,195
Net income 58,899 32,398 375,720 318,976
Operating Segments | Pipeline and storage segment        
Operating revenues 158,008 149,198 452,421 419,318
Purchased gas cost (11) (96) 290 (544)
Operation and maintenance expense 42,234 40,855 112,751 106,120
Depreciation and amortization expense 29,917 27,089 88,556 80,313
Taxes, other than income 9,344 7,831 23,899 24,169
Operating income 76,524 73,519 226,925 209,260
Other non-operating income 2,068 (1,360) 7,203 (3,637)
Interest charges 11,611 8,995 33,852 29,687
Income before income taxes 66,981 63,164 200,276 175,936
Income tax expense 8,089 15,096 39,886 41,912
Net income 58,892 48,068 160,390 134,024
Intersegment eliminations        
Operating revenues (100,321) (108,404) (303,015) (302,821)
Purchased gas cost (100,010) (108,096) (302,053) (301,887)
Operation and maintenance expense (311) (308) (962) (934)
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 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 658 657 2,031 2,008
Intersegment eliminations | Pipeline and storage segment        
Operating revenues 99,663 107,747 300,984 300,813
Purchased gas cost        
Purchased gas cost 26,072 31,326 640,823 845,167
Purchased gas cost | Operating Segments | Distribution segment        
Purchased gas cost 126,093 139,518 942,586 1,147,598
Purchased gas cost | Operating Segments | Pipeline and storage segment        
Purchased gas cost (11) (96) 290 (544)
Purchased gas cost | Intersegment eliminations        
Purchased gas cost $ (100,010) $ (108,096) $ (302,053) $ (301,887)