Guarantor and Non-Guarantor Financial Information (Tables)

3 Months Ended

Dec. 31, 2016

Guarantor and Non-Guarantor Financial Information

Schedule of Consolidated Condensed Statements of Operations

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(in thousands)

	Three Months Ended December 31, 2016
	Guarantor/			Issuer			Non-Guarantor						Total
	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated
Operating revenue	$	—		$	297,448		$	71,159		$	(17	)	$	368,590
Operating costs and other	3,460			339,502			75,023			(231		)	417,754
Operating income (loss) from continuing operations	(3,460		)	(42,054		)	(3,864		)	214			(49,164		)
Other income, net	—			1,019			572			(214		)	1,377
Interest expense	(86		)	(4,709		)	(260		)	—			(5,055		)
Equity in net income (loss) of subsidiaries	(32,992		)	329			—			32,663			—
Income (loss) from continuing operations before income taxes	(36,538		)	(45,415		)	(3,552		)	32,663			(52,842		)
Income tax provision	(1,475		)	(12,550		)	(4,263		)	—			(18,288		)
Income (loss) from continuing operations	(35,063		)	(32,865		)	711			32,663			(34,554		)
Income (loss) from discontinued operations before income taxes	—			—			(424		)	—			(424		)
Income tax provision	—			—			85			—			85
Loss from discontinued operations	—			—			(509		)	—			(509		)
Net income (loss)	$	(35,063	)	$	(32,865	)	$	202		$	32,663		$	(35,063	)

CONSOLIDATED CONDENSED STATEMENTS OF INCOME

(in thousands)

	Three Months Ended December 31, 2015
	Guarantor/			Issuer			Non- Guarantor						Total
	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated
Operating revenue	$	—		$	405,537		$	82,327		$	(17	)	$	487,847
Operating costs and other	2,705			356,751			90,122			(401		)	449,177
Operating income (loss) from continuing operations	(2,705		)	48,786			(7,795		)	384			38,670
Other income, net	20			656			180			(384		)	472
Interest expense	(62		)	(4,718		)	256			—			(4,524		)
Equity in net income (loss) of subsidiaries	17,549			(8,197		)	—			(9,352		)	—
Income (loss) from continuing operations before income taxes	14,802			36,527			(7,359		)	(9,352		)	34,618
Income tax provision	(1,200		)	19,227			693			—			18,720
Income (loss) from continuing operations	16,002			17,300			(8,052		)	(9,352		)	15,898
Income from discontinued operations before income taxes	—			—			104			—			104
Income tax provision	—			—			—			—			—
Income from discontinued operations	—			—			104			—			104
Net income (loss)	$	16,002		$	17,300		$	(7,948	)	$	(9,352	)	$	16,002

Schedule of Consolidated Condensed Statements of Comprehensive Income

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(in thousands)

	Three Months Ended December 31, 2016
	Guarantor/			Issuer			Non- Guarantor				Total
	Parent			Subsidiary			Subsidiaries		Eliminations		Consolidated
Net income (loss)	$	(35,063	)	$	(32,865	)	$	202	$	32,663	$	(35,063	)
Other comprehensive income (loss), net of income taxes:
Unrealized (appreciation) depreciation on securities, net	—			12,412			—		—		12,412
Minimum pension liability adjustments, net	106			260			—		—		366
Other comprehensive income (loss)	106			12,672			—		—		12,778
Comprehensive income (loss)	$	(34,957	)	$	(20,193	)	$	202	$	32,663	$	(22,285	)

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

	Three Months Ended December 31, 2015
	Guarantor/		Issuer			Non-Guarantor						Total
	Parent		Subsidiary			Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	16,002	$	17,300		$	(7,948	)	$	(9,352	)	$	16,002
Other comprehensive income (loss), net of income taxes:
Unrealized depreciation on securities, net	—		(11,010		)	—			—			(11,010		)
Minimum pension liability adjustments, net	107		206			—			—			313
Other comprehensive income (loss)	107		(10,804		)	—			—			(10,697		)
Comprehensive income (loss)	$	16,109	$	6,496		$	(7,948	)	$	(9,352	)	$	5,305

Schedule of Consolidated Condensed Balance Sheets

CONSOLIDATED CONDENSED BALANCE SHEETS

(in thousands)

	December 31, 2016
	Guarantor/			Issuer		Non-Guarantor					Total
	Parent			Subsidiary		Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	8,722		$	811,046	$	6,125	$	—		$	825,893
Short-term investments	—			45,263		—		—			45,263
Accounts receivable, net of reserve	3,392			285,285		39,373		(1,279		)	326,771
Inventories	—			90,061		36,021		—			126,082
Prepaid expenses and other	12,019			10,422		53,770		(285		)	75,926
Assets held for sale	—			18,452		26,845		—			45,297
Current assets of discontinued operations	—			—		51		—			51
Total current assets	24,133			1,260,529		162,185		(1,564		)	1,445,283
Investments	13,411			91,766		—		—			105,177
Property, plant and equipment, net	56,028			4,691,273		355,378		—			5,102,679
Intercompany	16,161			1,495,780		260,554		(1,772,495		)	—
Other assets	234			6,814		17,450		—			24,498
Investment in subsidiaries	5,563,500			208,864		—		(5,772,364		)	—
Total assets	$	5,673,467		$	7,755,026	$	795,567	$	(7,546,423	)	$	6,677,637
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	79,896		$	26,861	$	6,155	$	(1,274	)	$	111,638
Accrued liabilities	19,660			126,784		28,767		(291		)	174,920
Current liabilities of discontinued operations	—			—		70		—			70
Total current liabilities	99,556			153,645		34,992		(1,565		)	286,628
Noncurrent liabilities:
Long-term debt	—			492,110		—		—			492,110
Deferred income taxes	(4,081		)	1,308,141		28,209		—			1,332,269
Intercompany	1,081,580			215,050		475,765		(1,772,395		)	—
Other	20,497			39,335		26,527		—			86,359
Noncurrent liabilities of discontinued operations	—			—		4,356		—			4,356
Total noncurrent liabilities	1,097,996			2,054,636		534,857		(1,772,395		)	1,915,094
Shareholders’ equity:
Common stock	11,188			100		—		(100		)	11,188
Additional paid-in capital	463,859			51,638		954		(52,592		)	463,859
Retained earnings	4,178,235			5,477,241		224,764		(5,702,005		)	4,178,235
Accumulated other comprehensive loss	12,574			17,766		—		(17,766		)	12,574
Treasury stock, at cost	(189,941		)	—		—		—			(189,941		)
Total shareholders’ equity	4,475,915			5,546,745		225,718		(5,772,463		)	4,475,915
Total liabilities and shareholders’ equity	$	5,673,467		$	7,755,026	$	795,567	$	(7,546,423	)	$	6,677,637

CONSOLIDATED CONDENSED BALANCE SHEETS

(in thousands)

	September 30, 2016
	Guarantor/			Issuer		Non-Guarantor					Total
	Parent			Subsidiary		Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	(955	)	$	899,028	$	7,488	$	—		$	905,561
Short-term investments	—			44,148		—		—			44,148
Accounts receivable, net of reserve	2			325,325		51,121		(1,279		)	375,169
Inventories	—			87,946		36,379		—			124,325
Prepaid expenses and other	6,928			20,625		71,753		(21,239		)	78,067
Assets held for sale	—			18,471		26,881		—			45,352
Current assets of discontinued operations	—			—		64		—			64
Total current assets	5,975			1,395,543		193,686		(22,518		)	1,572,686
Investments	13,431			71,524		—		—			84,955
Property, plant and equipment, net	59,173			4,716,736		368,824		—			5,144,733
Intercompany	16,147			1,399,323		260,939		(1,676,409		)	—
Other assets	233			267		29,145		—			29,645
Investment in subsidiaries	5,579,713			208,118		—		(5,787,831		)	—
Total assets	$	5,674,672		$	7,791,511	$	852,594	$	(7,486,758	)	$	6,832,019
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	80,000		$	10,868	$	5,828	$	(1,274	)	$	95,422
Accrued liabilities	1,822			176,985		35,598		20,234			234,639
Current liabilities of discontinued operations	—			—		59		—			59
Total current liabilities	81,822			187,853		41,485		18,960			330,120
Noncurrent liabilities:
Long-term debt	—			491,847		—		—			491,847
Deferred income taxes	(5,930		)	1,303,324		45,062		—			1,342,456
Intercompany	1,016,673			209,276		491,838		(1,717,787		)	—
Other	21,182			36,379		45,220		—			102,781
Noncurrent liabilities of discontinued operations	—			—		3,890		—			3,890
Total noncurrent liabilities	1,031,925			2,040,826		586,010		(1,717,787		)	1,940,974
Shareholders’ equity:
Common stock	11,140			100		—		(100		)	11,140
Additional paid-in capital	448,452			47,533		549		(48,082		)	448,452
Retained earnings	4,289,807			5,510,105		224,550		(5,734,655		)	4,289,807
Accumulated other comprehensive income (loss)	(204		)	5,094		—		(5,094		)	(204		)
Treasury stock, at cost	(188,270		)	—		—		—			(188,270		)
Total shareholders’ equity	4,560,925			5,562,832		225,099		(5,787,931		)	4,560,925
Total liabilities and shareholders’ equity	$	5,674,672		$	7,791,511	$	852,594	$	(7,486,758	)	$	6,832,019

Schedule of Consolidated Condensed Statements of Cash Flows

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended December 31, 2016
	Guarantor/			Issuer			Non-Guarantor					Total
	Parent			Subsidiary			Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	5,900		$	65,679		$	(911	)	$	—	$	70,668
INVESTING ACTIVITIES:
Capital expenditures	(607		)	(80,556		)	(964		)	—		(82,127		)
Purchase of short-term investments	—			(15,025		)	—			—		(15,025		)
Proceeds from sales of short-term investments	—			13,900			—			—		13,900
Intercompany transfers	607			(607		)	—			—		—
Proceeds from asset sales	—			1,102			107			—		1,209
Net cash used in investing activities	—			(81,186		)	(857		)	—		(82,043		)
FINANCING ACTIVITIES:
Intercompany transfers	76,176			(76,176		)	—			—		—
Dividends paid	(76,176		)	—			—			—		(76,176		)
Exercise of stock options, net of tax withholding	9,827			—			—			—		9,827
Tax withholdings related to net share settlements of restricted stock	(5,647		)	—			—			—		(5,647		)
Excess tax benefit from stock-based compensation	(403		)	3,701			405			—		3,703
Net cash provided by (used in) financing activities	3,777			(72,475		)	405			—		(68,293		)
Net increase (decrease) in cash and cash equivalents	9,677			(87,982		)	(1,363		)	—		(79,668		)
Cash and cash equivalents, beginning of period	(955		)	899,028			7,488			—		905,561
Cash and cash equivalents, end of period	$	8,722		$	811,046		$	6,125		$	—	$	825,893

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(in thousands)

	Three Months Ended December 31, 2015
	Guarantor/			Issuer			Non-Guarantor					Total
	Parent			Subsidiary			Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	4,381		$	307,138		$	(3,323	)	$	—	$	308,196
INVESTING ACTIVITIES:
Capital expenditures	(9,085		)	(103,510		)	(1,875		)	—		(114,470		)
Intercompany transfers	9,085			(9,085		)	—			—		—
Purchase of short-term investments	—			(6,918		)	—			—		(6,918		)
Proceeds from sales of short-term investments	—			4,600			—			—		4,600
Proceeds from asset sales	—			5,241			817			—		6,058
Net cash used in investing activities	—			(109,672		)	(1,058		)	—		(110,730		)
FINANCING ACTIVITIES:
Dividends paid	(74,560		)	—			—			—		(74,560		)
Intercompany transfers	74,560			(74,560		)	—			—		—
Debt issuance costs	—			(32		)	—			—		(32		)
Exercise of stock options, net of tax withholding	(59		)	—			—			—		(59		)
Tax withholdings related to net share settlements of restricted stock	(3,617		)	—			—			—		(3,617		)
Excess tax benefit from stock-based compensation	(572		)	195			25			—		(352		)
Net cash provided by (used in) financing activities	(4,248		)	(74,397		)	25			—		(78,620		)
Net increase (decrease) in cash and cash equivalents	133			123,069			(4,356		)	—		118,846
Cash and cash equivalents, beginning of period	(838		)	693,273			36,949			—		729,384
Cash and cash equivalents, end of period	$	(705	)	$	816,342		$	32,593		$	—	$	848,230