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Retirement Plan And Other Post-Retirement Benefits (Tables)
 12 Months Ended
Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Benefit Obligations, Plan Assets And Funded Status
Reconciliations of the Benefit Obligations, Plan Assets and Funded Status, as well as the components of Net Periodic Benefit Cost and the Weighted Average Assumptions of the Retirement Plan and other post-retirement benefits are shown in the tables below. The date used to measure the Benefit Obligations, Plan Assets and Funded Status is September 30 for fiscal years 2017, 2016 and 2015.
 
Retirement Plan
 
Other Post-Retirement Benefits
 
Year Ended September 30
 
Year Ended September 30
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
(Thousands)
Change in Benefit Obligation
 
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at Beginning of Period
$
1,097,421

 
$
1,026,190

 
$
999,499

 
$
526,138

 
$
464,987

 
$
465,583

Service Cost
11,969

 
11,710

 
12,047

 
2,449

 
2,331

 
2,693

Interest Cost
38,383

 
42,315

 
41,217

 
19,007

 
20,386

 
19,285

Plan Participants’ Contributions
—

 
—

 
—

 
2,717

 
2,558

 
2,242

Retiree Drug Subsidy Receipts
—

 
—

 
—

 
1,553

 
1,925

 
1,338

Amendments(1)
—

 
—

 
7,752

 
—

 
—

 
—

Actuarial (Gain) Loss
(32,466
)
 
76,309

 
23,426

 
(62,215
)
 
60,402

 
(1,575
)
Benefits Paid
(60,481
)
 
(59,103
)
 
(57,751
)
 
(27,030
)
 
(26,451
)
 
(24,579
)
Benefit Obligation at End of Period
$
1,054,826

 
$
1,097,421

 
$
1,026,190

 
$
462,619

 
$
526,138

 
$
464,987

Change in Plan Assets
 
 
 
 
 
 
 
 
 
 
 
Fair Value of Assets at Beginning of Period
$
869,775

 
$
834,870

 
$
869,791

 
$
494,320

 
$
477,959

 
$
497,601

Actual Return on Plan Assets
84,279

 
87,008

 
(13,370
)
 
40,157

 
37,415

 
534

Employer Contributions
17,146

 
7,000

 
36,200

 
3,853

 
2,839

 
2,161

Plan Participants’ Contributions
—

 
—

 
—

 
2,717

 
2,558

 
2,242

Benefits Paid
(60,481
)
 
(59,103
)
 
(57,751
)
 
(27,030
)
 
(26,451
)
 
(24,579
)
Fair Value of Assets at End of Period
$
910,719

 
$
869,775

 
$
834,870

 
$
514,017

 
$
494,320

 
$
477,959

Net Amount Recognized at End of Period (Funded Status)
$
(144,107
)
 
$
(227,646
)
 
$
(191,320
)
 
$
51,398

 
$
(31,818
)
 
$
12,972

Amounts Recognized in the Balance Sheets Consist of:
 
 
 
 
 
 
 
 
 
 
 
Non-Current Liabilities
$
(144,107
)
 
$
(227,646
)
 
$
(191,320
)
 
$
(4,972
)
 
$
(49,467
)
 
$
(11,487
)
Non-Current Assets
—

 
—

 
—

 
56,370

 
17,649

 
24,459

Net Amount Recognized at End of Period
$
(144,107
)
 
$
(227,646
)
 
$
(191,320
)
 
$
51,398

 
$
(31,818
)
 
$
12,972

Accumulated Benefit Obligation
$
1,010,179

 
$
1,039,408

 
$
968,984

 
N/A

 
N/A

 
N/A

Weighted Average Assumptions Used to Determine Benefit Obligation at September 30
 
 
 
 
 
 
 
 
 
 
 
Discount Rate
3.77
%
 
3.60
%
 
4.25
%
 
3.81
%
 
3.70
%
 
4.50
%
Rate of Compensation Increase
4.70
%
 
4.70
%
 
4.75
%
 
4.70
%
 
4.70
%
 
4.75
%
 
Retirement Plan
 
Other Post-Retirement Benefits
 
Year Ended September 30
 
Year Ended September 30
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
(Thousands)
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
Service Cost
$
11,969

 
$
11,710

 
$
12,047

 
$
2,449

 
$
2,331

 
$
2,693

Interest Cost
38,383

 
42,315

 
41,217

 
19,007

 
20,386

 
19,285

Expected Return on Plan Assets
(59,718
)
 
(59,369
)
 
(59,615
)
 
(31,458
)
 
(31,535
)
 
(34,089
)
Amortization of Prior Service Cost (Credit)
1,058

 
1,234

 
183

 
(429
)
 
(912
)
 
(1,913
)
Recognition of Actuarial Loss(2)
42,687

 
32,248

 
36,129

 
18,415

 
5,530

 
4,148

Net Amortization and Deferral for Regulatory Purposes
469

 
3,957

 
7,739

 
6,108

 
17,123

 
20,322

Net Periodic Benefit Cost
$
34,848

 
$
32,095

 
$
37,700

 
$
14,092

 
$
12,923

 
$
10,446

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost at September 30
 
 
 
 
 
 
 
 
 
 
 
Discount Rate
3.60
%
 
4.25
%
 
4.25
%
 
3.70
%
 
4.50
%
 
4.25
%
Expected Return on Plan Assets
7.00
%
 
7.25
%
 
7.50
%
 
6.50
%
 
6.75
%
 
7.00
%
Rate of Compensation Increase
4.75
%
 
4.75
%
 
4.75
%
 
4.75
%
 
4.75
%
 
4.75
%
 
(1)
In fiscal 2015, the Company passed an amendment which updated the mortality table used in the Retirement Plan's definition of "actuarially equivalent" effective July 1, 2015. This increased the benefit obligation of the Retirement Plan.
(2)
Distribution Corporation’s New York jurisdiction calculates the amortization of the actuarial loss on a vintage year basis over 10 years, as mandated by the NYPSC. All the other subsidiaries of the Company utilize the corridor approach.
Schedule Of Cumulative Amounts Recognized In AOCI (Loss) And Regulatory Assets And Liabilities
The cumulative amounts recognized in accumulated other comprehensive income (loss), regulatory assets, and regulatory liabilities through fiscal 2017, the changes in such amounts during 2017, as well as the amounts expected to be recognized in net periodic benefit cost in fiscal 2018 are presented in the table below:
 
Retirement
Plan
 
Other
Post-Retirement
Benefits
 
Non-Qualified
Benefit Plans
 
(Thousands)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities(1)
 
 
 
 
 
Net Actuarial Loss
$
(203,887
)
 
$
(19,578
)
 
$
(24,332
)
Prior Service (Cost) Credit
(6,133
)
 
3,687

 
—

Net Amount Recognized
$
(210,020
)
 
$
(15,891
)
 
$
(24,332
)
Changes to Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities Recognized During Fiscal 2017(1)
 
 
 
 
 
Decrease (Increase) in Actuarial Loss, excluding amortization(2)
$
57,028

 
$
70,915

 
$
(1,351
)
Change due to Amortization of Actuarial Loss
42,687

 
18,415

 
4,059

Prior Service (Cost) Credit
1,058

 
(429
)
 
—

Net Change
$
100,773

 
$
88,901

 
$
2,708

Amounts Expected to be Recognized in Net Periodic Benefit Cost in the Next Fiscal Year(1)
 
 
 
 
 
Net Actuarial Loss
$
(37,205
)
 
$
(10,558
)
 
$
(3,549
)
Prior Service (Cost) Credit
(938
)
 
429

 
—

Net Amount Expected to be Recognized
$
(38,143
)
 
$
(10,129
)
 
$
(3,549
)
 
(1)
Amounts presented are shown before recognizing deferred taxes.
(2)
Amounts presented include the impact of actuarial gains/losses related to return on assets, as well as the Actuarial (Gain) Loss amounts presented in the Change in Benefit Obligation.
Schedule Of Expected Benefit Payments
The estimated gross other post-retirement benefit payments and gross amount of Medicare Part D prescription drug subsidy receipts are as follows (dollars in thousands):

 
Benefit Payments
 
Subsidy Receipts
2018
$
26,483

 
$
(1,910
)
2019
$
27,456

 
$
(2,074
)
2020
$
28,359

 
$
(2,225
)
2021
$
29,173

 
$
(2,369
)
2022
$
29,757

 
$
(2,515
)
2023 through 2027
$
152,957

 
$
(14,271
)
Schedule Of Health Care Cost Trend Rates
Assumed health care cost trend rates as of September 30 were:
 
2017
 
 
2016
 
 
2015
 
Rate of Medical Cost Increase for Pre Age 65 Participants
5.67
%
(1)
 
5.75
%
(1)
 
6.93
%
(2)
Rate of Medical Cost Increase for Post Age 65 Participants
4.75
%
(1)
 
4.75
%
(1)
 
6.68
%
(2)
Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits
8.45
%
(1)
 
9.00
%
(1)
 
7.17
%
(2)
Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement
4.75
%
(1)
 
4.75
%
(1)
 
6.68
%
(2)
Annual Rate of Increase in the Per Capita Medicare Part D Subsidy
7.33
%
(1)
 
7.20
%
(1)
 
6.65
%
(2)
 
(1)
It was assumed that this rate would gradually decline to 4.5% by 2039.
(2)
It was assumed that this rate would gradually decline to 4.5% by 2028.
Retirement Plan [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Fair Value Of Plan Assets
 
Total Fair
 Value Amounts at
September 30, 2017
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV(7)
Retirement Plan Investments
 
 
 
 
 
 
 
 
 
Domestic Equities(1)
$
290,716

 
$
209,421

 
$
—

 
$
—

 
$
81,295

International Equities(2)
123,069

 
—

 
—

 
—

 
123,069

Global Equities(3)
121,008

 
—

 
—

 
—

 
121,008

Domestic Fixed Income(4)
348,501

 
1,664

 
346,837

 
—

 
—

International Fixed Income(5)
422

 
422

 
—

 
—

 
—

Global Fixed Income(6)
75,428

 
—

 
—

 
—

 
75,428

Real Estate
3,391

 
—

 
—

 
3,391

 
—

Cash Held in Collective Trust Funds
26,058

 
—

 
—

 
—

 
26,058

Total Retirement Plan Investments
988,593

 
211,507

 
346,837

 
3,391

 
426,858

401(h) Investments
(64,728
)
 
(14,026
)
 
(23,001
)
 
(225
)
 
(27,476
)
Total Retirement Plan Investments (excluding 401(h) Investments)
$
923,865

 
$
197,481

 
$
323,836

 
$
3,166

 
$
399,382

Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash
(13,146
)
 
 
 
 
 
 
 
 
Total Retirement Plan Assets
$
910,719

 
 
 
 
 
 
 
 
 
 
Total Fair 
Value
Amounts at
September 30, 2016
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV(7)
Retirement Plan Investments
 
 
 
 
 
 
 
 
 
Domestic Equities(1)
$
256,796

 
$
188,253

 
$
—

 
$
—

 
$
68,543

International Equities(2)
104,592

 
—

 
—

 
—

 
104,592

Global Equities(3)
120,025

 
—

 
—

 
—

 
120,025

Domestic Fixed Income(4)
342,442

 
1,647

 
340,795

 
—

 
—

International Fixed Income(5)
744

 
407

 
337

 
—

 
—

Global Fixed Income(6)
81,146

 
—

 
—

 
—

 
81,146

Real Estate
2,970

 
—

 
—

 
2,970

 
—

Cash Held in Collective Trust Funds
24,812

 
—

 
—

 
—

 
24,812

Total Retirement Plan Investments
933,527

 
190,307

 
341,132

 
2,970

 
399,118

401(h) Investments
(58,707
)
 
(12,025
)
 
(21,555
)
 
(188
)
 
(24,939
)
Total Retirement Plan Investments (excluding 401(h) Investments)
$
874,820

 
$
178,282

 
$
319,577

 
$
2,782

 
$
374,179

Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash
(5,045
)
 
 
 
 
 
 
 
 
Total Retirement Plan Assets
$
869,775

 
 
 
 
 
 
 
 
 
(1)
Domestic Equities include mostly collective trust funds, common stock, and exchange traded funds.
(2)
International Equities are comprised of collective trust funds.
(3)
Global Equities are comprised of collective trust funds.
(4)
Domestic Fixed Income securities include mostly collective trust funds, corporate/government bonds and mortgages, and exchange traded funds.
(5)
International Fixed Income securities are comprised mostly of an exchange traded fund.
(6)
Global Fixed Income securities are comprised of a collective trust fund.
(7)
Reflects the adoption of the new authoritative guidance related to investments measured at the net asset value (NAV) practical expedient.
Schedule Of Significant Unobservable Input Changes In Plan Assets
 
 
Retirement Plan Level 3 Assets
(Thousands)
 
 
Hedge
Funds
 
Real
Estate
 
Excluding
401(h)
Investments
 
Total
 
 
 
Balance at September 30, 2015
$
26,490

 
$
4,724

 
$
(1,885
)
 
$
29,329

 
Realized Gains/(Losses)
5,878

 
—

 
(354
)
 
5,524

 
Unrealized Gains/(Losses)
(5,445
)
 
(404
)
 
344

 
(5,505
)
 
Sales
(26,923
)
 
(1,350
)
 
1,707

 
(26,566
)
 
Balance at September 30, 2016
—

 
2,970


(188
)

2,782

 
Unrealized Gains/(Losses)
—

 
421

 
(37
)
 
384

 
Balance at September 30, 2017
$
—

 
$
3,391

 
$
(225
)
 
$
3,166
Other Post-Retirement Benefit Plans [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Fair Value Of Plan Assets
 
Total Fair
 Value
Amounts at
September 30, 2017
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV(1)
Other Post-Retirement Benefit Assets held in VEBA Trusts
 
 
 
 
 
 
 
 
 
Collective Trust Funds — Domestic Equities
$
130,864

 
$
—

 
$
—

 
$
—

 
$
130,864

Collective Trust Funds — International Equities
52,063

 
—

 
—

 
—

 
52,063

Exchange Traded Funds — Fixed Income
256,099

 
256,099

 
—

 
—

 
—

Cash Held in Collective Trust Funds
9,569

 
—

 
—

 
—

 
9,569

Total VEBA Trust Investments
448,595

 
256,099

 
—

 
—

 
192,496

401(h) Investments
64,728

 
14,026

 
23,001

 
225

 
27,476

Total Investments (including 401(h) Investments)
$
513,323

 
$
270,125

 
$
23,001

 
$
225

 
$
219,972

Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative)
694

 
 
 
 
 
 
 
 
Total Other Post-Retirement Benefit Assets
$
514,017

 
 
 
 
 
 
 
 
 
 
Total Fair
 Value
Amounts at
September 30, 2016
 
Level 1
 
Level 2
 
Level 3
 
Measured at NAV(1)
Other Post-Retirement Benefit Assets held in VEBA Trusts
 
 
 
 
 
 
 
 
 
Collective Trust Funds — Domestic Equities
$
139,617

 
$
—

 
$
—

 
$
—

 
$
139,617

Collective Trust Funds — International Equities
51,488

 
—

 
—

 
—

 
51,488

Exchange Traded Funds — Fixed Income
230,761

 
230,761

 
—

 
—

 
—

Cash Held in Collective Trust Funds
13,176

 
—

 
—

 
—

 
13,176

Total VEBA Trust Investments
435,042

 
230,761

 
—

 
—

 
204,281

401(h) Investments
58,707

 
12,025

 
21,555

 
188

 
24,939

Total Investments (including 401(h) Investments)
$
493,749

 
$
242,786

 
$
21,555

 
$
188

 
$
229,220

Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative)
571

 
 
 
 
 
 
 
 
Total Other Post-Retirement Benefit Assets
$
494,320

 
 
 
 
 
 
 
 

 
(1)
Reflects the adoption of the new authoritative guidance related to investments measured at the net asset value (NAV) practical expedient.
Schedule Of Significant Unobservable Input Changes In Plan Assets
 
 
Other Post-Retirement Benefit Level 3 Assets
(Thousands)
 
 
401(h)
Investments
 
 
Balance at September 30, 2015
 
$
1,885

Realized Gains/(Losses)
 
354

Unrealized Gains/(Losses)
 
(344
)
Sales
 
(1,707
)
Balance at September 30, 2016
 
188

Unrealized Gains/(Losses)
 
37

Balance at September 30, 2017
 
$
225