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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Operating revenues $ 1,540,973 $ 1,649,819 $ 3,024,982 $ 2,662,605
Purchased gas cost 666,211 871,378 1,404,460 1,242,541
Operation and maintenance expense 194,716 163,352 379,732 322,462
Depreciation and amortization expense 148,317 133,374 294,337 261,230
Taxes, other than income 109,091 96,583 202,629 175,379
Operating income 422,638 385,132 743,824 660,993
Other non-operating income 17,406 5,213 38,597 13,915
Interest charges 37,370 28,928 74,130 48,779
Income before income taxes 402,674 361,417 708,291 626,129
Income tax expense 45,003 36,418 78,760 51,921
Net income $ 357,671 $ 324,999 $ 629,531 $ 574,208
Basic net income per share (USD per share) $ 2.48 $ 2.37 $ 4.40 $ 4.24
Diluted net income per share (USD per share) 2.48 2.37 4.40 4.24
Cash dividends per share (USD per share) $ 0.74 $ 0.68 $ 1.48 $ 1.36
Basic weighted average shares outstanding (in shares) 143,941 136,834 142,881 135,259
Diluted weighted average shares outstanding (in shares) 143,987 137,250 142,963 135,470
Other comprehensive income (loss), net of tax        
Net unrealized holding gains (losses) on available-for-sale securities $ 134 $ (161) $ 221 $ (230)
Cash flow hedges:        
Amortization and unrealized gains (losses) on interest rate agreements (30,467) 121,884 (8,336) 76,006
Total other comprehensive income (loss) (30,333) 121,723 (8,115) 75,776
Total comprehensive income 327,338 446,722 621,416 649,984
Distribution segment        
Operating revenues 1,499,437 1,609,667 2,939,130 2,581,303
Pipeline and storage segment        
Operating revenues 41,536 40,152 85,852 81,302
Purchased gas cost        
Purchased gas cost 666,211 871,378 1,404,460 1,242,541
Operating Segments | Distribution segment        
Operating revenues 1,500,210 1,610,546 2,940,636 2,582,968
Purchased gas cost 809,023 993,854 1,690,938 1,490,653
Operation and maintenance expense 151,353 121,541 287,822 244,825
Depreciation and amortization expense 106,310 96,612 211,974 189,409
Taxes, other than income 98,200 87,236 182,822 156,281
Operating income 335,324 311,303 567,080 501,800
Other non-operating income 7,465 549 14,239 2,465
Interest charges 21,420 15,157 44,259 23,705
Income before income taxes 321,369 296,695 537,060 480,560
Income tax expense 32,895 27,844 54,118 32,138
Net income 288,474 268,851 482,942 448,422
Operating Segments | Pipeline and storage segment        
Operating revenues 184,424 163,747 371,053 326,665
Purchased gas cost 621 1,683 (237) (1,728)
Operation and maintenance expense 43,591 42,126 92,376 78,281
Depreciation and amortization expense 42,007 36,762 82,363 71,821
Taxes, other than income 10,891 9,347 19,807 19,098
Operating income 87,314 73,829 176,744 159,193
Other non-operating income 9,941 4,664 24,358 11,450
Interest charges 15,950 13,771 29,871 25,074
Income before income taxes 81,305 64,722 171,231 145,569
Income tax expense 12,108 8,574 24,642 19,783
Net income 69,197 56,148 146,589 125,786
Operating Segments | Purchased gas cost | Distribution segment        
Purchased gas cost 809,023 993,854 1,690,938 1,490,653
Operating Segments | Purchased gas cost | Pipeline and storage segment        
Purchased gas cost 621 1,683 (237) (1,728)
Intersegment eliminations        
Operating revenues (143,661) (124,474) (286,707) (247,028)
Purchased gas cost (143,433) (124,159) (286,241) (246,384)
Operation and maintenance expense (228) (315) (466) (644)
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 773 879 1,506 1,665
Intersegment eliminations | Pipeline and storage segment        
Operating revenues 142,888 123,595 285,201 245,363
Intersegment eliminations | Purchased gas cost        
Purchased gas cost $ (143,433) $ (124,159) $ (286,241) $ (246,384)