Fair Value Measurements (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize, by level within the fair value hierarchy,

our assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2023 and 2022. As required under authoritative accounting literature, assets and liabilities are categorized in their entirety based on the lowest level of input that is significant to the fair value measurement.


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)(1)		Significant Other Unobservable Inputs (Level 3)		Netting and Cash Collateral		September 30, 2023
	(In thousands)
Assets:
Financial instruments	$	—	$	385,664	$	—	$	—	$	385,664

Debt and equity securities
Registered investment companies	26,685		—		—		—		26,685
Bond mutual funds	37,573		—		—		—		37,573
Bonds (2)	—		35,507		—		—		35,507
Money market funds	—		4,837		—		—		4,837
Total debt and equity securities	64,258		40,344		—		—		104,602
Total assets	$	64,258	$	426,008	$	—	$	—	$	490,266
Liabilities:
Financial instruments	$	—	$	15,408	$	—	$	—	$	15,408


	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)(1)		Significant Other Unobservable Inputs (Level 3)		Netting and Cash Collateral		September 30, 2022
	(In thousands)
Assets:
Financial instruments	$	—	$	381,991	$	—	$	—	$	381,991

Debt and equity securities
Registered investment companies	26,367		—		—		—		26,367
Bond mutual funds	32,367		—		—		—		32,367
Bonds (2)	—		33,433		—		—		33,433
Money market funds	—		3,845		—		—		3,845
Total debt and equity securities	58,734		37,278		—		—		96,012
Total assets	$	58,734	$	419,269	$	—	$	—	$	478,003
Liabilities:
Financial instruments	$	—	$	4,129	$	—	$	—	$	4,129

(1)Our Level 2 measurements consist of over-the-counter options and swaps, which are valued using a market-based approach in which observable market prices are adjusted for criteria specific to each instrument, such as the strike price, notional amount or basis differences, municipal and corporate bonds, which are valued based on the most recent available quoted market prices and money market funds which are valued at cost.

(2)Our investments in bonds are considered available-for-sale debt securities in accordance with current accounting guidance.

Schedule of Carrying Value and Fair Value of Our Long-term Debt

The following table presents the carrying value and fair value of our long-term debt, excluding finances leases, debt issuance costs and original issue premium or discount, as of September 30, 2023:


	September 30, 2023
	(In thousands)
Carrying Amount	$	6,560,000
Fair Value	$	5,402,591