Shareholders' Equity

6 Months Ended

Mar. 31, 2021

Shareholders' EquityThe following tables present a reconciliation of changes in stockholders' equity for the three and six months ended March 31, 2021 and 2020.


	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, 2020	125,882,477	$	629	$	4,377,149	$	(57,589)	$	2,471,014	$	6,791,203
Net income	—	—		—		—		217,678		217,678
Other comprehensive income	—	—		—		60,121		—		60,121


Cash dividends ($0.625 per share)	—	—		—		—		(79,023)		(79,023)

Common stock issued:
Public and other stock offerings	2,126,118	11		219,998		—		—		220,009
Stock-based compensation plans	144,366	1		3,167		—		—		3,168
Balance, December 31, 2020	128,152,961	641		4,600,314		2,532		2,609,669		7,213,156
Net income	—	—		—		—		296,754		296,754
Other comprehensive income	—	—		—		137,939		—		137,939


Cash dividends ($0.625 per share)	—	—		—		—		(80,325)		(80,325)

Common stock issued:
Public and other stock offerings	2,498,026	12		248,948		—		—		248,960
Stock-based compensation plans	16,122	—		4,441		—		—		4,441
Balance, March 31, 2021	130,667,109	$	653	$	4,853,703	$	140,471	$	2,826,098	$	7,820,925


	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
Net income	—	—		—		—		239,646		239,646
Other comprehensive income	—	—		—		890		—		890


Cash dividends ($0.575 per share)	—	—		—		—		(70,520)		(70,520)

Common stock issued:
Public and other stock offerings	38,662	1		3,095		—		—		3,096
Stock-based compensation plans	7,660	—		3,528		—		—		3,528
Balance, March 31, 2020	122,308,725	$	612	$	3,986,187	$	(112,641)	$	2,430,257	$	6,304,415

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

On February 11, 2020, we filed a shelf registration statement with the Securities and Exchange Commission (SEC) that allows us to issue up to $4.0 billion in common stock and/or debt securities, which expires February 11, 2023. At March 31, 2021, approximately $200 million of securities were available for issuance under the shelf registration statement.

During the six months ended March 31, 2021, we executed forward sales under our ATM equity sales program with various forward sellers who borrowed and sold 2,472,912 shares of our common stock at an aggregate price of $238.6 million. During the six months ended March 31, 2021, we also settled forward sale agreements with respect to 4,537,669 shares that had

been borrowed and sold by various forward sellers under the ATM program for net proceeds of $460.7 million. As of March 31, 2021, approximately $313 million of equity was available for issuance under the ATM program. Additionally, we had $115.6 million in available proceeds, based on a net price of $90.96 per share, from outstanding forward sale agreements, available through June 30, 2022.

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, 2020	$	238	$	(57,827)	$	(57,589)
Other comprehensive income (loss) before reclassifications	(129)		195,906		195,777
Amounts reclassified from accumulated other comprehensive income	—		2,283		2,283
Net current-period other comprehensive income (loss)	(129)		198,189		198,060

March 31, 2021	$	109	$	140,362	$	140,471


	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	(163)		—		(163)
Amounts reclassified from accumulated other comprehensive income	(1)		2,106		2,105
Net current-period other comprehensive income (loss)	(164)		2,106		1,942

March 31, 2020	$	(32)	$	(112,609)	$	(112,641)