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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating revenues $ 701,549 $ 662,733 $ 3,507,243 $ 3,687,715
Purchased gas cost (2,593) 44,550 960,571 1,449,010
Operation and maintenance expense 211,309 195,049 577,553 574,781
Depreciation and amortization expense 166,827 150,726 496,522 445,063
Taxes, other than income 105,739 103,155 302,235 305,784
Operating income 220,267 169,253 1,170,362 913,077
Other non-operating income 19,898 16,170 54,471 54,767
Interest charges 41,160 31,334 148,477 105,464
Income before income taxes 199,005 154,089 1,076,356 862,380
Income tax expense 33,441 16,282 167,477 95,042
Net income $ 165,564 $ 137,807 $ 908,879 $ 767,338
Basic net income per share (USD per share) $ 1.08 $ 0.94 $ 6.00 $ 5.33
Diluted net income per share (USD per share) 1.08 0.94 6.00 5.33
Cash dividends per share (USD per share) $ 0.805 $ 0.740 $ 2.415 $ 2.220
Basic weighted average shares outstanding (in shares) 153,309 146,051 151,459 143,938
Diluted weighted average shares outstanding (in shares) 153,396 146,067 151,497 143,998
Other comprehensive income (loss), net of tax        
Net unrealized holding gains (losses) on available-for-sale securities, net of tax $ (4) $ (121) $ 242 $ 100
Cash flow hedges:        
Amortization and unrealized gains (losses) on interest rate agreements, net of tax 14,436 43,527 (8,638) 35,191
Total other comprehensive income (loss) 14,432 43,406 (8,396) 35,291
Total comprehensive income 179,996 181,213 900,483 802,629
Distribution segment        
Operating revenues 632,446 615,259 3,325,459 3,554,389
Pipeline and storage segment        
Operating revenues 69,103 47,474 181,784 133,326
Operating Segments | Distribution segment        
Operating revenues 633,211 616,067 3,327,730 3,556,703
Purchased gas cost 179,510 206,048 1,464,815 1,896,986
Operation and maintenance expense 153,140 138,351 435,711 426,173
Depreciation and amortization expense 122,912 107,809 363,981 319,783
Taxes, other than income 94,527 92,180 273,430 275,002
Operating income 83,122 71,679 789,793 638,759
Other non-operating income 11,452 6,695 26,650 20,934
Interest charges 22,550 16,146 93,915 60,405
Income before income taxes 72,024 62,228 722,528 599,288
Income tax expense 6,175 2,589 92,550 56,707
Net income 65,849 59,639 629,978 542,581
Operating Segments | Pipeline and storage segment        
Operating revenues 250,680 208,225 685,336 579,278
Purchased gas cost (19) (194) 825 (431)
Operation and maintenance expense 58,427 56,953 142,596 149,329
Depreciation and amortization expense 43,915 42,917 132,541 125,280
Taxes, other than income 11,212 10,975 28,805 30,782
Operating income 137,145 97,574 380,569 274,318
Other non-operating income 8,446 9,475 27,821 33,833
Interest charges 18,610 15,188 54,562 45,059
Income before income taxes 126,981 91,861 353,828 263,092
Income tax expense 27,266 13,693 74,927 38,335
Net income 99,715 78,168 278,901 224,757
Intersegment eliminations        
Operating revenues (182,342) (161,559) (505,823) (448,266)
Purchased gas cost (182,084) (161,304) (505,069) (447,545)
Operation and maintenance expense (258) (255) (754) (721)
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 (765) (808) (2,271) (2,314)
Intersegment eliminations | Pipeline and storage segment        
Operating revenues $ (181,577) $ (160,751) $ (503,552) $ (445,952)