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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 1,198,754 $ 1,042,895 $ 885,862
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 734,745 669,972 604,327
Deferred income taxes 268,606 172,707 108,215
Stock-based compensation 12,731 10,709 10,178
Amortization of debt issuance costs (14,962) (6,882) 3,639
Equity component of AFUDC (75,425) (58,234) (64,019)
Other 11,003 1,546 (591)
Changes in assets and liabilities:      
(Increase) decrease in accounts receivable (1,417) (40,909) 46,859
(Increase) decrease in gas stored underground (2,248) 76,322 112,111
Decrease in Winter Storm Uri current regulatory asset (see Note 10) 0 0 2,021,889
(Increase) decrease in other current assets 19,517 17,138 (36,041)
Increase in deferred charges and other assets (211,286) (195,369) (172,586)
Increase (decrease) in accounts payable and accrued liabilities 31,558 (4,563) (132,575)
Increase (decrease) in other current liabilities 31,406 (10,287) 30,687
Increase in deferred credits and other liabilities 46,474 58,701 41,788
Net cash provided by operating activities 2,049,456 1,733,746 3,459,743
CASH FLOWS USED IN INVESTING ACTIVITIES      
Capital expenditures (3,561,399) (2,937,124) (2,805,973)
Purchases of debt and equity securities (34,323) (19,734) (46,789)
Proceeds from sale of debt and equity securities 7,267 5,977 25,134
Maturities of debt securities 22,801 12,050 13,340
Other, net 4,372 16,062 19,008
Net cash used in investing activities (3,561,282) (2,922,769) (2,795,280)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in short-term debt 0 (241,933) 56,966
Proceeds from issuance of long-term debt, net of premium/discount 1,143,447 1,240,204 797,258
Proceeds from issuance of securitized long-term debt by AEK 0 0 95,000
Net proceeds from equity offering 698,462 749,987 806,949
Issuance of common stock through stock purchase and employee retirement plans 15,277 15,084 15,395
Settlement of interest rate swaps 122,874 231,138 171,145
Proceeds from term loan 0 0 2,020,000
Repayment of term loan 0 0 (2,020,000)
Repayment of long-term debt 0 0 (2,200,000)
Repayment of securitized long-term debt by AEK (8,075) (9,922) 0
Cash dividends paid (553,761) (492,950) (430,345)
Debt issuance costs (10,384) (11,844) (7,864)
Securitized debt issuance costs 0 0 (1,273)
Other (1,067) (1,133) 0
Net cash provided by (used in) financing activities 1,406,773 1,478,631 (696,769)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents (105,053) 289,608 (32,306)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of year 308,856 19,248 51,554
Cash and cash equivalents and restricted cash and cash equivalents at end of year $ 203,803 $ 308,856 $ 19,248