Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts Related to Open Derivative Contracts

The following table summarizes by derivative type the gross notional amounts related to open derivative contracts at March 31, 2023, September 30, 2022 and March 31, 2022, and the final settlement dates of the Company's open derivative contracts as of March 31, 2023, but excluding those derivatives that qualified for the NPNS exception:

			Notional Amounts (in millions)
Type	Units	Settlements Extending Through	March 31, 2023		September 30, 2022		March 31, 2022
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contracts	Dekatherms	February 2024	12		19		11
Non-utility Operations
LPG swaps	Gallons	September 2025	691		874		622
Natural gas futures, forward, basis swap, options and pipeline contracts (a)	Dekatherms	October 2027	366		363		346
Electricity forward and futures contracts	Kilowatt hours	December 2026	1,890		2,446		3,098
Interest Rate Risk:
Interest rate swaps	Euro	March 2026	€	300	€	300	€	300
Interest rate swaps	USD	September 2026	$	1,277	$	1,358	$	1,414
Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contracts	USD	August 2025	$	285	$	465	$	274
Net investment hedge forward foreign exchange contracts	Euro	December 2026	€	331	€	411	€	486

(a)September 30, 2022 includes amounts held-for-sale associated with the October 2022 sale of the U.K. energy marketing business (see Note 5).

Schedule of Derivative Assets, Liabilities and Effects of Offsetting

The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting:

	March 31, 2023		September 30, 2022		March 31, 2022
Derivative assets:
Derivatives designated as hedging instruments:
Foreign currency contracts	$	9	$	57	$	18
Interest rate contracts	25		66		31
	34		123		49
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	19		31		38
Derivatives not designated as hedging instruments:
Commodity contracts (a)	355		2,202		1,931
Foreign currency contracts	14		62		17
	369		2,264		1,948
Total derivative assets — gross	422		2,418		2,035
Gross amounts offset in the balance sheet	(190)		(295)		(215)
Cash collateral received	(55)		(398)		(603)
Total derivative assets — net	$	177	$	1,725	$	1,217
Derivative liabilities:
Derivatives designated as hedging instruments:
Interest rate contracts	(21)		—		(1)
Derivatives subject to PGC and DS mechanisms:
Commodity contracts	(36)		(26)		(17)
Derivatives not designated as hedging instruments:
Commodity contracts (a)	(396)		(487)		(304)
Foreign currency contracts	(4)		(2)		(2)
	(400)		(489)		(306)
Total derivative liabilities — gross	(457)		(515)		(324)
Gross amounts offset in the balance sheet	190		295		215
Cash collateral pledged	102		7		—
Total derivative liabilities — net	$	(165)	$	(213)	$	(109)

(a)September 30, 2022 includes derivative assets and liabilities held-for-sale associated with the October 2022 sale of the U.K. energy marketing business (see Note 5).

Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI

The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI:

Three Months Ended March 31,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2023		2022		2023		2022
Interest rate contracts	$	(21)	$	36	$	7	$	(7)	Interest expense
Net Investment Hedges:
Foreign currency contracts	$	(1)	$	11
	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2023		2022		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	6	$	(7)	Revenues
Commodity contracts	(343)		599		Cost of sales
Commodity contracts	2		—		Other operating income, net
Foreign currency contracts	(2)		7		Other non-operating income (expense), net
Total	$	(337)	$	599
Six Months Ended March 31,:
	Gain (Loss) Recognized in AOCI				Gain (Loss) Reclassified from AOCI into Income				Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges:	2023		2022		2023		2022
Interest rate contracts	$	(17)	$	48	$	14	$	(13)	Interest expense
Net Investment Hedges:
Foreign currency contracts	$	(24)	$	11
	Gain (Loss) Recognized in Income
Derivatives Not Designated as Hedging Instruments:	2023		2022		Location of Gain (Loss) Recognized in Income
Commodity contracts	$	10	$	1	Revenues
Commodity contracts	(1,669)		326		Cost of sales
Commodity contracts	5		—		Other operating income, net
Foreign currency contracts	(34)		15		Other non-operating income (expense), net
Total	$	(1,688)	$	342