Segment Information

3 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

 We manage and review our consolidated operations through the following reportable segments:

•The distribution segment is primarily comprised of our regulated natural gas distribution and related sales operations in eight states.

•The pipeline and storage segment is comprised primarily of the pipeline and storage operations of our Atmos Pipeline-Texas division and our natural gas transmission operations in Louisiana.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies found in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023.

Income statements and capital expenditures for the three months ended December 31, 2023 and 2022 by segment are presented in the following tables:

	Three Months Ended December 31, 2023
	Distribution		Pipeline and Storage		Eliminations		Consolidated
	(In thousands)
Operating revenues from external parties	$	1,104,619	$	53,848	$	—	$	1,158,467
Intersegment revenues	719		157,321		(158,040)		—
Total operating revenues	1,105,338		211,169		(158,040)		1,158,467
Purchased gas cost	496,662		4		(157,797)		338,869
Operation and maintenance expense	127,615		38,973		(243)		166,345
Depreciation and amortization expense	119,685		44,923		—		164,608
Taxes, other than income	80,895		8,645		—		89,540
Operating income	280,481		118,624		—		399,105
Other non-operating income	5,839		12,047		—		17,886
Interest charges	34,581		17,294		—		51,875
Income before income taxes	251,739		113,377		—		365,116
Income tax expense	30,302		23,522		—		53,824
Net income	$	221,437	$	89,855	$	—	$	311,292
Capital expenditures	$	539,158	$	230,492	$	—	$	769,650

	Three Months Ended December 31, 2022
	Distribution		Pipeline and Storage		Eliminations		Consolidated
	(In thousands)
Operating revenues from external parties	$	1,439,693	$	44,316	$	—	$	1,484,009
Intersegment revenues	733		142,313		(143,046)		—
Total operating revenues	1,440,426		186,629		(143,046)		1,484,009
Purchased gas cost	881,915		(858)		(142,808)		738,249
Operation and maintenance expense	136,469		48,785		(238)		185,016
Depreciation and amortization expense	105,664		40,356		—		146,020
Taxes, other than income	84,622		8,916		—		93,538
Operating income	231,756		89,430		—		321,186
Other non-operating income	6,774		14,417		—		21,191
Interest charges	22,839		13,921		—		36,760
Income before income taxes	215,691		89,926		—		305,617
Income tax expense	21,223		12,534		—		33,757
Net income	$	194,468	$	77,392	$	—	$	271,860
Capital expenditures	$	443,544	$	352,116	$	—	$	795,660

Balance sheet information at December 31, 2023 and September 30, 2023 by segment is presented in the following tables:

	December 31, 2023
	Distribution		Pipeline and Storage		Eliminations		Consolidated
	(In thousands)
Net property, plant and equipment	$	14,907,406	$	5,412,075	$	—	$	20,319,481
Total assets	$	22,874,926	$	5,721,542	$	(4,912,225)	$	23,684,243

	September 30, 2023
	Distribution		Pipeline and Storage		Eliminations		Consolidated
	(In thousands)
Net property, plant and equipment	$	14,402,578	$	5,204,005	$	—	$	19,606,583
Total assets	$	21,716,467	$	5,504,972	$	(4,704,471)	$	22,516,968