LEASES (Tables)

12 Months Ended

Sep. 30, 2023

Leases [Abstract]

Lease, Cost

The following table presents the Company’s lease costs included in the Consolidated Statements of Operations for the fiscal year ended September 30:

(Thousands)	Income Statement Location	2023		2022		2021
Operating lease cost (1)	Operation and maintenance	$	9,336	$	9,702	$	8,182
Finance lease cost
Amortization of right-of-use assets	Depreciation and amortization	2,105		1,769		$	3,442
Interest on lease liabilities	Interest expense, net of capitalized interest	1,084		612		710
Total finance lease cost		$	3,189	$	2,381	4,152
Short-term lease cost	Operation and maintenance	—		34		543
Variable lease cost	Operation and maintenance	1,128		781		1,381
Total lease cost		$	13,653	$	12,898	$	14,258

(1)Net of capitalized costs.

The following table presents supplemental cash flow information related to leases for the fiscal year ended September 30:

(Thousands)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	8,942	$	7,417	$	6,675
Operating cash flows for finance leases	$	1,084	$	831	$	1,167
Financing cash flows for finance leases	$	7,379	$	7,145	$	8,180

Assets and Liabilities, Lessee

The following table presents the balance and classifications of the Company’s right of use assets and lease liabilities included in the Consolidated Balance Sheets for the fiscal year ended September 30:

(Thousands)	Balance Sheet Location	2023		2022
Assets
Noncurrent
Operating lease assets	Operating lease assets	$	175,740	$	168,520
Finance lease assets	Utility plant	28,248		21,913
Total lease assets		$	203,988	$	190,433
Liabilities
Current
Operating lease liabilities	Operating lease liabilities	$	4,772	$	4,562
Finance lease liabilities	Current maturities of long-term debt	8,477		6,538
Noncurrent
Operating lease liabilities	Operating lease liabilities	148,023		138,382
Finance lease liabilities	Long-term debt	22,875		23,752
Total lease liabilities		$	184,147	$	173,234

Operating Lease Liability, Maturity

The following table presents the Company’s maturities of lease liabilities as of September 30, 2023:

(Thousands)	Operating		Finance
2024	$	7,913	$	9,362
2025	7,875		7,479
2026	7,799		6,407
2027	7,743		4,083
2028	7,803		4,715
Thereafter	213,927		1,676
Total future payments	253,060		33,722
Less: interest	(100,265)		(2,370)
Total liability	$	152,795	$	31,352

Finance Lease Liability, Maturity

Contractual commitments for meter financing obligation payments, which include the most likely outcome of cash payments to the lessor, as of the fiscal years ended September 30, are as follows:

(Thousands)	2024		2025	2026	2027	2028	Thereafter	Subtotal
Lease Payments	$	9,362	7,479	6,407	4,083	4,715	1,676	$	33,722
Less: Interest component								(2,370)
Total								$	31,352

The following table presents the Company’s maturities of lease liabilities as of September 30, 2023:

(Thousands)	Operating		Finance
2024	$	7,913	$	9,362
2025	7,875		7,479
2026	7,799		6,407
2027	7,743		4,083
2028	7,803		4,715
Thereafter	213,927		1,676
Total future payments	253,060		33,722
Less: interest	(100,265)		(2,370)
Total liability	$	152,795	$	31,352