Property, Plant and Equipment

12 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 11 — Property, Plant and Equipment

Property, plant and equipment comprise the following at September 30:

	2025		2024		Estimated Useful Life
Utility:
Distribution	$	6,024	$	5,595
Transmission	134		125
General and other	746		706
Work in process	130		94
Total utility	7,034		6,520
Non-utility:
Land	202		172
Buildings and improvements	445		429		10 - 40 years
Transportation equipment	242		233		3 - 10 years
Equipment, primarily cylinders and tanks	4,052		3,985		5 - 30 years
Electric generation	48		48		25 - 40 years
Pipeline and related assets	1,710		1,598		25 - 40 years
Other	467		430		1 - 12 years
Work in process	150		258
Total non-utility	7,316		7,153
Total property, plant and equipment	$	14,350	$	13,673

The average composite depreciation rates at our Gas Utility and Electric Utility were as follows:

	2025		2024		2023
Regulated natural gas utilities	2.5	%	2.6	%	2.4	%
Electric utility	2.4	%	2.5	%	2.3	%

Depreciation expense totaled $507, $496 and $476 for Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively.