Retirement Plan And Other Post-Retirement Benefits (Tables)

12 Months Ended

Sep. 30, 2021

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 components of net periodic benefit cost other than service cost are presented in Other Income (Deductions) on the Consolidated Statements of Income. The date used to measure the Benefit Obligations, Plan Assets and Funded Status is September 30 for fiscal years 2021, 2020 and 2019.

	Retirement Plan									Other Post-Retirement Benefits
	Year Ended September 30									Year Ended September 30
	2021			2020			2019			2021			2020			2019
	(Thousands)
Change in Benefit Obligation
Benefit Obligation at Beginning of Period	$	1,139,105		$	1,097,625		$	985,690		$	476,722		$	468,163		$	435,986
Service Cost	9,865			9,318			8,482			1,602			1,609			1,519
Interest Cost	21,686			29,930			38,378			9,303			12,913			17,145
Plan Participants’ Contributions	—			—			—			3,216			3,058			2,930
Retiree Drug Subsidy Receipts	—			—			—			1,244			1,411			1,855
Actuarial (Gain) Loss	(8,141)			65,908			127,748			(34,729)			16,396			34,401
Benefits Paid	(64,059)			(63,676)			(62,673)			(26,145)			(26,828)			(25,673)
Benefit Obligation at End of Period	$	1,098,456		$	1,139,105		$	1,097,625		$	431,213		$	476,722		$	468,163
Change in Plan Assets
Fair Value of Assets at Beginning of Period	$	1,016,796		$	968,449		$	924,506		$	547,885		$	524,127		$	513,800
Actual Return on Plan Assets	122,992			87,402			77,401			47,541			44,448			30,006
Employer Contributions	20,000			24,621			29,215			3,068			3,080			3,064
Plan Participants’ Contributions	—			—			—			3,216			3,058			2,930
Benefits Paid	(64,059)			(63,676)			(62,673)			(26,145)			(26,828)			(25,673)
Fair Value of Assets at End of Period	$	1,095,729		$	1,016,796		$	968,449		$	575,565		$	547,885		$	524,127
Net Amount Recognized at End of Period (Funded Status)	$	(2,727)		$	(122,309)		$	(129,176)		$	144,352		$	71,163		$	55,964
Amounts Recognized in the Balance Sheets Consist of:
Non-Current Liabilities	$	(2,727)		$	(122,309)		$	(129,176)		$	(4,799)		$	(4,872)		$	(4,553)
Non-Current Assets	—			—			—			149,151			76,035			60,517
Net Amount Recognized at End of Period	$	(2,727)		$	(122,309)		$	(129,176)		$	144,352		$	71,163		$	55,964
Accumulated Benefit Obligation	$	1,060,659		$	1,096,427		$	1,053,914		N/A			N/A			N/A
Weighted Average Assumptions Used to Determine Benefit Obligation at September 30
Discount Rate	2.75		%	2.66		%	3.15		%	2.76		%	2.71		%	3.17		%
Rate of Compensation Increase	4.70		%	4.70		%	4.70		%	4.70		%	4.70		%	4.70		%

	Retirement Plan									Other Post-Retirement Benefits
	Year Ended September 30									Year Ended September 30
	2021			2020			2019			2021			2020			2019
	(Thousands)
Components of Net Periodic Benefit Cost
Service Cost	$	9,865		$	9,318		$	8,482		$	1,602		$	1,609		$	1,519
Interest Cost	21,686			29,930			38,378			9,303			12,913			17,145
Expected Return on Plan Assets	(58,148)			(60,063)			(62,368)			(28,964)			(29,232)			(30,157)
Amortization of Prior Service Cost (Credit)	631			729			826			(429)			(429)			(429)
Recognition of Actuarial Loss(1)	36,814			39,384			32,096			849			535			5,962
Net Amortization and Deferral for Regulatory Purposes	14,063			5,359			2,493			28,010			25,596			16,481
Net Periodic Benefit Cost	$	24,911		$	24,657		$	19,907		$	10,371		$	10,992		$	10,521
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost at September 30
Effective Discount Rate for Benefit Obligations	2.66		%	3.15		%	4.30		%	2.71		%	3.17		%	4.31		%
Effective Rate for Interest on Benefit Obligations	1.96		%	2.81		%	4.03		%	2.01		%	2.84		%	4.05		%
Effective Discount Rate for Service Cost	3.01		%	3.31		%	4.40		%	3.20		%	3.39		%	4.43		%
Effective Rate for Interest on Service Cost	2.60		%	3.12		%	4.29		%	2.98		%	3.30		%	4.39		%
Expected Return on Plan Assets	6.00		%	6.40		%	6.75		%	5.40		%	5.70		%	6.00		%
Rate of Compensation Increase	4.70		%	4.70		%	4.70		%	4.70		%	4.70		%	4.70		%

(1)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 2021, as well as the changes in such amounts during 2021, 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 Gain (Loss)	$	(105,532)	$	26,112	$	(33,241)
Prior Service (Cost) Credit	(3,009)		1,972		—
Net Amount Recognized	$	(108,541)	$	28,084	$	(33,241)
Changes to Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities Recognized During Fiscal 2021(1)
Decrease (Increase) in Actuarial Loss, excluding amortization(2)	$	72,985	$	53,307	$	(5,029)
Change due to Amortization of Actuarial Loss	36,814		849		5,852
Prior Service (Cost) Credit	631		(429)		—
Net Change	$	110,430	$	53,727	$	823

(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
2022	$	27,230	$	(1,900)
2023	$	27,442	$	(2,006)
2024	$	27,601	$	(2,111)
2025	$	27,691	$	(2,201)
2026	$	27,643	$	(2,289)
2027 through 2031	$	134,674	$	(12,253)

Schedule Of Health Care Cost Trend Rates

Assumed health care cost trend rates as of September 30 were:

	2021			2020			2019
Rate of Medical Cost Increase for Pre Age 65 Participants	5.38	%	(1)	5.42	%	(2)	5.50	%	(2)
Rate of Medical Cost Increase for Post Age 65 Participants	4.84	%	(1)	4.75	%	(2)	4.75	%	(2)
Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits	6.53	%	(1)	6.80	%	(2)	7.35	%	(2)
Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement	4.84	%	(1)	4.75	%	(2)	4.75	%	(2)
Annual Rate of Increase in the Per Capita Medicare Part D Subsidy	6.15	%	(1)	6.20	%	(2)	6.84	%	(2)

(1)It was assumed that this rate would gradually decline to 4% by 2046.

(2)It was assumed that this rate would gradually decline to 4.5% by 2039.

Retirement Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Fair Value Of Plan Assets

	At September 30, 2021
	Total Fair Value		Level 1		Level 2		Level 3		Measured at NAV(7)
Retirement Plan Investments
Domestic Equities(1)	$	56,511	$	146	$	—	$	—	$	56,365
International Equities(2)	28,917		—		—		—		28,917
Global Equities(3)	95,865		—		—		—		95,865
Domestic Fixed Income(4)	818,361		1,447		758,417		—		58,497
International Fixed Income(5)	13,773		—		13,773		—		—
Global Fixed Income(6)	42,454		—		—		—		42,454
Real Estate	119,451		—		—		319		119,132
Cash Held in Collective Trust Funds	27,471		—		—		—		27,471
Total Retirement Plan Investments	1,202,803		1,593		772,190		319		428,701
401(h) Investments	(90,429)		(121)		(58,840)		(24)		(31,444)
Total Retirement Plan Investments (excluding 401(h) Investments)	$	1,112,374	$	1,472	$	713,350	$	295	$	397,257
Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash	(16,645)
Total Retirement Plan Assets	$	1,095,729

	At September 30, 2020
	Total Fair Value		Level 1		Level 2		Level 3		Measured at NAV(7)
Retirement Plan Investments
Domestic Equities(1)	$	188,939	$	118,124	$	—	$	—	$	70,815
International Equities(2)	94,603		—		—		—		94,603
Global Equities(3)	77,736		—		—		—		77,736
Domestic Fixed Income(4)	512,693		2,000		457,381		—		53,312
International Fixed Income(5)	20,201		—		20,201		—		—
Global Fixed Income(6)	79,595		—		—		—		79,595
Real Estate	106,167		—		—		471		105,696
Cash Held in Collective Trust Funds	18,023		—		—		—		18,023
Total Retirement Plan Investments	1,097,957		120,124		477,582		471		499,780
401(h) Investments	(80,511)		(8,809)		(35,021)		(35)		(36,646)
Total Retirement Plan Investments (excluding 401(h) Investments)	$	1,017,446	$	111,315	$	442,561	$	436	$	463,134
Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash	(650)
Total Retirement Plan Assets	$	1,016,796

(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 corporate/government bonds.

(6)Global Fixed Income securities are comprised of a collective trust fund.

(7)Reflects the authoritative guidance related to investments measured at net asset value (NAV).

Schedule Of Significant Unobservable Input Changes In Plan Assets

	Retirement Plan Level 3 Assets (Thousands)
	Real Estate		Excluding 401(h) Investments		Total
Balance at September 30, 2019	$	3,154	$	(223)	$	2,931
Unrealized Gains/(Losses)	(2,683)		188		(2,495)
Sales	—		—		—
Balance at September 30, 2020	471		(35)		436
Unrealized Gains/(Losses)	(152)		11		(141)
Sales	—		—		—
Balance at September 30, 2021	$	319	$	(24)	$	295

Other Post-Retirement Benefit Plans [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Fair Value Of Plan Assets

	At September 30, 2021
	Total Fair Value		Level 1		Level 2		Level 3		Measured at NAV(1)
Other Post-Retirement Benefit Assets held in VEBA Trusts
Collective Trust Funds — Global Equities	$	165,226	$	—	$	—	$	—	$	165,226
Exchange Traded Funds — Fixed Income	313,392		313,392		—		—		—
Cash Held in Collective Trust Funds	9,700		—		—		—		9,700
Total VEBA Trust Investments	488,318		313,392		—		—		174,926
401(h) Investments	90,429		121		58,840		24		31,444
Total Investments (including 401(h) Investments)	$	578,747	$	313,513	$	58,840	$	24	$	206,370
Miscellaneous Accruals (including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative)	(3,182)
Total Other Post-Retirement Benefit Assets	$	575,565

	At September 30, 2020
	Total Fair Value		Level 1		Level 2		Level 3		Measured at NAV(1)
Other Post-Retirement Benefit Assets held in VEBA Trusts
Collective Trust Funds — Global Equities	$	153,923	$	—	$	—	$	—	$	153,923
Exchange Traded Funds — Fixed Income	301,290		301,290		—		—		—
Cash Held in Collective Trust Funds	13,841		—		—		—		13,841
Total VEBA Trust Investments	469,054		301,290		—		—		167,764
401(h) Investments	80,511		8,809		35,021		35		36,646
Total Investments (including 401(h) Investments)	$	549,565	$	310,099	$	35,021	$	35	$	204,410
Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative)	(1,680)
Total Other Post-Retirement Benefit Assets	$	547,885

(1)Reflects the authoritative guidance related to investments measured at net asset value (NAV).

Schedule Of Significant Unobservable Input Changes In Plan Assets

	Other Post-Retirement Benefit Level 3 Assets (Thousands)
	401(h) Investments
Balance at September 30, 2019	$	223
Unrealized Gains/(Losses)	(188)
Sales	—
Balance at September 30, 2020	35
Unrealized Gains/(Losses)	(11)
Sales	—
Balance at September 30, 2021	$	24