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3. Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2011

Goodwill And Intangible Assets Disclosure Abstract

Goodwill and intangible assets were comprised of the following as of September 30, 2011 and 2010:

	September 30
	2011		2010
		(In thousands)

Goodwill	$	740,000	$	739,314
Intangible assets		207		834

Total	$	740,207	$	740,148

The following presents our goodwill balance allocated by segment and changes in the balance for the fiscal year ended September 30, 2011:

	Natural		Regulated
	Gas		Transmission
	Distribution		and Storage		Nonregulated		Total
	(In thousands)

Balance as of September 30, 2010	$	572,262	$	132,341	$	34,711	$	739,314
Deferred tax adjustments on prior acquisitions⁽¹⁾		646		40		-		686
Balance as of September 30, 2011	$	572,908	$	132,381	$	34,711	$	740,000

(1) During the preparation of the fiscal 2011 tax provision, we adjusted certain deferred taxes recorded in connection with acquisitions completed in fiscal 2001 and fiscal 2004, which resulted in an increase to goodwill and net deferred tax liabilities of $0.7 million.

Information regarding our intangible assets is reflected in the following table. As of September 30, 2011 and 2010, we had no intangible assets with indefinite lives.


		September 30, 2011						September 30, 2010
	Useful Life (Years)		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
		(In thousands)

Customer contracts	10	$	6,926	$	(6,719)	$	207	$	6,926	$	(6,092)	$	834

The following table presents actual amortization expense recognized during 2011 and an estimate of future amortization expense based upon our intangible assets at September 30, 2011.

Amortization expense (in thousands):
Actual for the fiscal year ending September 30, 2011	$	627
Estimated for the fiscal year ending:
September 30, 2012	$	43
September 30, 2013		43
September 30, 2014		43
September 30, 2015		43
September 30, 2016		35

- Definition

Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.

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