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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Dec. 31, 2020

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Unaudited Condensed Consolidated Balance Sheets to the total amounts in the Unaudited Condensed Consolidated Statements of Cash Flows as follows:


(Thousands)	December 31, 2020		September 30, 2020		December 31, 2019		September 30, 2019
Balance Sheet
Cash and cash equivalents	$	22,358	$	117,012	$	15,666	$	2,676
Restricted cash in other noncurrent assets	$	2,431	$	2,411	$	2,519	$	1,387
Statements of Cash Flow
Cash, cash equivalents and restricted cash	$	24,789	$	119,423	$	18,185	$	4,063

Summary of Natural Gas in Storage

The following table summarizes natural gas in storage, at average cost by segment as of:


	December 31, 2020				September 30, 2020
($ in thousands)	Natural Gas in Storage			Bcf	Natural Gas in Storage			Bcf
Natural Gas Distribution		$	98,434	25.1		$	110,037	27.2
Energy Services		64,688		30.8		57,352		34.3
Storage and Transportation		47		—		115		0.02
Total		$	163,169	55.9		$	167,504	61.52

Schedule of Software Costs Included in the Consolidated Financial Statements

The following table presents the software costs included in the Unaudited Condensed Consolidated Financial Statements:


(Thousands)	December 31, 2020		September 30, 2020
Balance Sheets
Utility plant, at cost	$	13,894	$	13,452

Nonutility plant and equipment, at cost	$	330	$	316
Construction work in progress	$	2	$	—
Accumulated depreciation and amortization, utility plant	$	(517)	$	(279)
Accumulated depreciation and amortization, nonutility plant and equipment	$	(11)	$	(5)
Software costs	$	5,498	$	4,707

	Three Months Ended
	December 31,
Statements of Operations	2020		2019
Operation and maintenance (1)	$	1,924	$	1,487
Depreciation and amortization	$	253	$	—

(1)During the three months ended December 31, 2020, $77,000 was amortized into O&M. There were no amounts amortized into O&M for the three months ended December 31, 2019.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the components of accumulated other comprehensive (loss) income, net of related tax effects during the three months ended December 31, 2020 and 2019:


(Thousands)	Cash Flow Hedges		Postemployment Benefit Obligation			Total
Balance at September 30, 2020	$	(10,397)	$	(33,918)		$	(44,315)
Other comprehensive income, net of tax

Amounts reclassified from accumulated other comprehensive income, net of tax of $(112), $(245), $(357), respectively	231		812		(1)	1,043


Balance at December 31, 2020	$	(10,166)	$	(33,106)		$	(43,272)

Balance at September 30, 2019	$	—	$	(31,787)		$	(31,787)
Other comprehensive income, net of tax

Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $(217) and $(217)	—		759		(1)	759


Balance at December 31, 2019	$	—	$	(31,028)		$	(31,028)

(1)Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations.

Impact of Changes Resulting from Change in Accounting Principle

The impact of the change in accounting policy on the Unaudited Condensed Consolidated Statements of Operations during the three months ended December 31, 2019 is as follows:


	As Previously		Effect of	As
(Thousands)	Reported		Change	Adjusted
Depreciation and amortization	$	27,758	(3,121)	$	24,637
Total operating expenses	$	513,539	(3,121)	$	510,418
Operating income	$	101,497	3,121	$	104,618
Income before income taxes and equity in earnings of affiliates	$	85,713	3,121	$	88,834
Income tax (benefit) expense	$	(259)	16,730	$	16,471
Net income	$	89,361	(13,609)	$	75,752
Earnings per common share
Basic	$	0.97	(0.15)	$	0.82
Diluted	$	0.97	(0.15)	$	0.82

The cumulative effect of the change in accounting policy on the Unaudited Condensed Consolidated Balance Sheets as of September 30, 2020 is as follows:


	As Previously		Effect of	As
(Thousands)	Reported		Change	Adjusted
Assets
Nonutility plant and equipment, at cost	$	1,430,723	(322,211)	$	1,108,512
Accumulated depreciation and amortization, nonutility plant and equipment	$	(202,507)	61,945	$	(140,562)
Property, plant and equipment, net	$	3,983,035	(260,266)	$	3,722,769
Other noncurrent assets	$	78,716	6,941	$	85,657
Total noncurrent assets	$	964,435	6,941	$	971,376
Total assets	$	5,569,802	(253,325)	$	5,316,477
Capitalization
Retained earnings	$	1,148,297	(200,796)	$	947,501
Common stock equity	$	1,844,692	(200,796)	$	1,643,896
Total capitalization	$	4,104,158	(200,796)	$	3,903,362
Liabilities
Deferred income taxes	$	190,610	(52,529)	$	138,081
Total noncurrent liabilities	$	931,922	(52,529)	$	879,393
Total capitalization and liabilities	$	5,569,802	(253,325)	$	5,316,477

The impact of the change in accounting policy on the Unaudited Condensed Consolidated Statements of Cash Flows as of December 31, 2019 is as follows:


	As Previously		Effect of	As
(Thousands)	Reported		Change	Adjusted
Depreciation and amortization	$	27,758	(3,121)	$	24,637
Deferred income taxes	$	3,246	16,730	$	19,976

The impact of the change in accounting policy on the Unaudited Condensed Consolidated Statements of Common Stock Equity as of December 31, 2019 is as follows:


	As Previously		Effect of	As
(Thousands)	Reported		Change	Adjusted
Retained Earnings
Balance at September 30, 2019	$	1,075,960	(206,102)	$	869,858
Net income	$	89,361	(13,609)	$	75,752
Balance at December 30, 2019	$	1,135,475	(219,711)	$	915,764
Total
Balance at September 30, 2019	$	1,551,717	(206,102)	$	1,345,615
Net income	$	89,361	(13,609)	$	75,752
Balance at December 30, 2019	$	1,827,803	(219,711)	$	1,608,092