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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2025
Mar. 31, 2024
Operating revenues $ 1,950,502 $ 1,647,227 $ 3,126,501 $ 2,805,694
Purchased gas cost 779,233 624,295 1,013,281 963,164
Operation and maintenance expense 233,296 199,899 440,340 366,244
Depreciation and amortization expense 182,750 165,087 363,283 329,695
Taxes, other than income 126,284 106,956 221,178 196,496
Operating income 628,939 550,990 1,088,419 950,095
Other non-operating income 24,172 16,687 48,806 34,573
Interest charges 50,014 55,442 102,939 107,317
Income before income taxes 603,097 512,235 1,034,286 877,351
Income tax expense 117,521 80,212 196,852 134,036
Net income $ 485,576 $ 432,023 $ 837,434 $ 743,315
Basic net income per share (USD per share) $ 3.05 $ 2.85 $ 5.31 $ 4.93
Diluted net income per share (USD per share) 3.03 2.85 5.26 4.93
Cash dividends per share (USD per share) $ 0.870 $ 0.805 $ 1.74 $ 1.61
Basic weighted average shares outstanding (in shares) 159,177 151,271 157,739 150,534
Diluted weighted average shares outstanding (in shares) 160,426 151,297 159,125 150,547
Other comprehensive income (loss), net of tax        
Net unrealized holding gains (losses) on available-for-sale securities, net of tax of $20 and $(15) $ 73 $ (50) $ (65) $ 246
Cash flow hedges:        
Amortization and unrealized gains (losses) on interest rate agreements, net of tax of $(1,622) and $7,850 (5,660) 27,158 10,901 (23,074)
Total other comprehensive income (loss) (5,587) 27,108 10,836 (22,828)
Total comprehensive income 479,989 459,131 848,270 720,487
Distribution segment        
Operating revenues 1,881,742 1,588,394 2,990,311 2,693,013
Pipeline and storage segment        
Operating revenues 68,760 58,833 136,190 112,681
Operating Segments | Distribution segment        
Operating revenues 1,882,528 1,589,181 2,991,863 2,694,519
Purchased gas cost 969,037 788,643 1,391,607 1,285,305
Operation and maintenance expense 181,887 154,956 336,401 282,571
Depreciation and amortization expense 134,546 121,384 268,173 241,069
Taxes, other than income 113,340 98,008 195,916 178,903
Operating income 483,718 426,190 799,766 706,671
Other non-operating income 13,444 9,359 23,528 15,198
Interest charges 30,087 36,784 64,336 71,365
Income before income taxes 467,075 398,765 758,958 650,504
Income tax expense 86,432 56,073 138,102 86,375
Net income 380,643 342,692 620,856 564,129
Operating Segments | Pipeline and storage segment        
Operating revenues 258,999 223,487 514,389 434,656
Purchased gas cost 968 840 910 844
Operation and maintenance expense 51,662 45,196 104,454 84,169
Depreciation and amortization expense 48,204 43,703 95,110 88,626
Taxes, other than income 12,944 8,948 25,262 17,593
Operating income 145,221 124,800 288,653 243,424
Other non-operating income 10,728 7,328 25,278 19,375
Interest charges 19,927 18,658 38,603 35,952
Income before income taxes 136,022 113,470 275,328 226,847
Income tax expense 31,089 24,139 58,750 47,661
Net income 104,933 89,331 216,578 179,186
Eliminations        
Operating revenues (191,025) (165,441) (379,751) (323,481)
Purchased gas cost (190,772) (165,188) (379,236) (322,985)
Operation and maintenance expense (253) (253) (515) (496)
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
Eliminations | Distribution segment        
Operating revenues (786) (787) (1,552) (1,506)
Eliminations | Pipeline and storage segment        
Operating revenues $ (190,239) $ (164,654) $ (378,199) $ (321,975)