Retirement Plan And Other Post-Retirement Benefits

6 Months Ended

Mar. 31, 2013

Retirement Plan And Other Post-Retirement Benefits [Abstract]

Retirement Plan And Other Post-Retirement Benefits

Note 8 – Retirement Plan and Other Post-Retirement Benefits

Components of Net Periodic Benefit Cost (in thousands):

Three Months Ended March 31,
					Other Post-Retirement
	Retirement Plan				Benefits
	2013		2012		2013		2012
Service Cost	$	3,961	$	3,551	$	1,176	$	1,004
Interest Cost		9,124		10,381		4,803		5,329
Expected Return on Plan Assets		(14,336)		(14,925)		(8,218)		(7,243)
Amortization of Prior Service Cost		60		67		(534)		(534)
Amortization of Transition Amount		-		-		2		3
Amortization of Losses		13,194		9,904		5,223		6,014
Net Amortization and Deferral for
Regulatory Purposes (Including
Volumetric Adjustments) (1)		1,724		2,200		6,459		5,141
Net Periodic Benefit Cost	$	13,727	$	11,178	$	8,911	$	9,714

Six Months Ended March 31,
					Other Post-Retirement
	Retirement Plan				Benefits
	2013		2012		2013		2012
Service Cost	$	7,923	$	7,101	$	2,352	$	2,008
Interest Cost		18,249		20,763		9,606		10,657
Expected Return on Plan Assets		(28,673)		(29,850)		(16,436)		(14,486)
Amortization of Prior Service Cost		119		134		(1,069)		(1,069)
Amortization of Transition Amount		-		-		4		5
Amortization of Losses		26,388		19,807		10,446		12,029
Net Amortization and Deferral for
Regulatory Purposes (Including
Volumetric Adjustments) (1)		(1,958)		399		9,162		7,274
Net Periodic Benefit Cost	$	22,048	$	18,354	$	14,065	$	16,418

⁽¹⁾The Company’s policy is to record retirement plan and other post-retirement benefit costs in the Utility segment on a volumetric basis to reflect the fact that the Utility segment experiences higher throughput of natural gas in the winter months and lower throughput of natural gas in the summer months.

Employer Contributions.  During the six months ended March 31, 2013, the Company contributed $42.0 million to its tax-qualified, noncontributory defined-benefit retirement plan (Retirement Plan) and $11.8 million to its VEBA trusts and 401(h) accounts for its other post-retirement benefits.  The Company does not plan to make any further contributions to the Retirement Plan for the remainder of 2013.  Changes in the discount rate, other actuarial assumptions, and asset performance could ultimately cause the Company to fund larger amounts to the Retirement Plan in fiscal 2013 in order to be in compliance with the Pension Protection Act of 2006 (as impacted by the Moving Ahead for Progress in the 21^st Century Act).  In July 2012, the Surface Transportation Extension Act, which is also referred to as the Moving Ahead for Progress in the 21^st Century Act (the Act), was passed by Congress and signed by the President.  The Act included pension funding stabilization provisions.  The Company is continually evaluating its future contributions in light of the provisions of the Act. For the remainder of 2013, the Company expects to contribute approximately $6.3 million to its VEBA trusts and 401(h) accounts.