Revenue and Accounts Receivable

3 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue and Accounts Receivable

Revenue and Accounts Receivable

Revenue

Our revenue recognition policy is fully described in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025. The following tables disaggregate our revenue from contracts with customers by customer type and segment and provide a reconciliation to total operating revenues, including intersegment revenues, for the three months ended December 31, 2025 and 2024.

	Three Months Ended December 31, 2025				Three Months Ended December 31, 2024
	Distribution		Pipeline and Storage		Distribution		Pipeline and Storage
	(In thousands)
Gas sales revenues:
Residential	$	780,412	$	—	$	693,050	$	—
Commercial	315,565		—		266,054		—
Industrial	32,861		—		26,321		—
Public authority and other	10,077		—		12,881		—
Total gas sales revenues	1,138,915		—		998,306		—
Transportation revenues	41,478		317,403		36,727		266,029
Miscellaneous revenues	2,838		2,630		3,022		2,664
Revenues from contracts with customers	1,183,231		320,033		1,038,055		268,693
Alternative revenue program revenues	71,832		(33,400)		67,336		(13,303)
Other revenues	3,763		—		3,944		—
Total operating revenues	$	1,258,826	$	286,633	$	1,109,335	$	255,390

We have alternative revenue programs in each of our segments. In our distribution segment, we have weather-normalization adjustment mechanisms that serve to mitigate the effects of weather on our revenue. In our pipeline and storage segment, APT has a regulatory mechanism that requires that we share with its tariffed customers 75% of the difference between the total non-tariffed revenues earned during a test period and a revenue benchmark established by the RRC. Other revenues includes AEK revenues (see Note 9 to the condensed consolidated financial statements) and other miscellaneous revenues.

Accounts receivable and allowance for uncollectible accounts

Accounts receivable arise from natural gas sales to residential, commercial, industrial, public authority, and other customers. Our accounts receivable balance includes unbilled amounts which represent a customer’s consumption of gas from the date of the last cycle billing through the last day of the month. Our policy related to the accounting for our accounts receivable and allowance for uncollectible accounts is fully described in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025. During the three months ended December 31, 2025, there were no material changes to this policy. Rollforwards of our allowance for uncollectible accounts for the three months ended December 31, 2025 and 2024 are presented in the table below. The allowance excludes the gas cost portion of customers’ bills for approximately 89 percent of our customers as we have the ability to collect these gas costs through our gas cost recovery mechanisms in most of our jurisdictions.

	Three Months Ended December 31, 2025
	(In thousands)
Beginning balance, September 30, 2025	$	45,259
Current period provisions	7,424
Write-offs charged against allowance	(8,591)
Recoveries of amounts previously written off	1,008
Ending balance, December 31, 2025	$	45,100

	Three Months Ended December 31, 2024
	(In thousands)
Beginning balance, September 30, 2024	$	37,056
Current period provisions	8,623
Write-offs charged against allowance	(7,447)
Recoveries of amounts previously written off	934
Ending balance, December 31, 2024	$	39,166