Capitalization

6 Months Ended

Mar. 31, 2022

Capitalization, Long-term Debt and Equity [Abstract]

Summary of Changes in Common Stock Equity


	Common Stock			Paid In Capital		Earnings Reinvested in the Business		Accumulated Other Comprehensive Income (Loss)
	Shares	Amount
	(Thousands, except per share amounts)
Balance at January 1, 2022	91,437	$	91,437	$	1,013,821	$	1,281,963	$	(277,026)
Net Income Available for Common Stock						167,328
Dividends Declared on Common Stock ($0.455 Per Share)						(41,608)

Other Comprehensive Loss, Net of Tax								(377,228)
Share-Based Payment Expense (1)				4,692

Common Stock Issued Under Stock and Benefit Plans	12	12		271
Balance at March 31, 2022	91,449	$	91,449	$	1,018,784	$	1,407,683	$	(654,254)

Balance at October 1, 2021	91,182	$	91,182	$	1,017,446	$	1,191,175	$	(513,597)
Net Income Available for Common Stock						299,720
Dividends Declared on Common Stock ($0.91 Per Share)						(83,212)

Other Comprehensive Loss, Net of Tax								(140,657)
Share-Based Payment Expense (1)				9,732

Common Stock Issued (Repurchased) Under Stock and Benefit Plans	267	267		(8,394)
Balance at March 31, 2022	91,449	$	91,449	$	1,018,784	$	1,407,683	$	(654,254)

Balance at January 1, 2021	91,153	$	91,153	$	1,004,369	$	1,028,844	$	(79,741)
Net Income Available for Common Stock						112,436
Dividends Declared on Common Stock ($0.445 Per Share)						(40,562)

Other Comprehensive Loss, Net of Tax								(22,247)
Share-Based Payment Expense (1)				4,283

Common Stock Issued Under Stock and Benefit Plans	11	11		423
Balance at March 31, 2021	91,164	$	91,164	$	1,009,075	$	1,100,718	$	(101,988)

Balance at October 1, 2020	90,955	$	90,955	$	1,004,158	$	991,630	$	(114,757)
Net Income Available for Common Stock						190,210
Dividends Declared on Common Stock ($0.89 Per Share)						(81,122)



Other Comprehensive Income, Net of Tax								12,769
Share-Based Payment Expense (1)				7,779

Common Stock Issued (Repurchased) Under Stock and Benefit Plans	209	209		(2,862)
Balance at March 31, 2021	91,164	$	91,164	$	1,009,075	$	1,100,718	$	(101,988)

(1)Paid in Capital includes compensation costs associated with performance shares and/or restricted stock awards. The expense is included within Net Income Available For Common Stock, net of tax benefits.

Common Stock. During the six months ended March 31, 2022, the Company issued 25,251 original issue shares of common stock as a result of SARs exercises, 110,839 original issue shares of common stock for restricted stock units that vested and 265,607 original issue shares of common stock for performance shares that vested. The Company also issued 15,479 original issue shares of common stock to the non-employee directors of the Company who receive compensation under the Company’s 2009 Non-Employee Director Equity Compensation Plan, including the reinvestment of dividends for certain non-employee directors who elected to defer their shares pursuant to the dividend reinvestment feature of the Company's Deferred Compensation Plan for Directors and Officers during the six months ended March 31, 2022. Holders of stock-based compensation awards will often tender shares of common stock to the Company for payment of applicable withholding taxes. During the six months ended March 31, 2022, 149,499 shares of common stock were tendered to the Company for such

purposes. The Company considers all shares tendered as cancelled shares restored to the status of authorized but unissued shares, in accordance with New Jersey law.

Current Portion of Long-Term Debt. Current Portion of Long-Term Debt at March 31, 2022 consists of $500.0 million of 3.75% notes and $49.0 million of 7.395% notes that mature in March 2023. None of the Company's long-term debt as of September 30, 2021 had a maturity date within the following twelve-month period.

Short-Term Borrowings and Debt Restrictions. On February 28, 2022, the Company entered into a Credit Agreement (the "Credit Agreement") with a syndicate of twelve banks. The Credit Agreement replaces the previous Fourth Amended and Restated Credit Agreement and 364-Day Credit Agreement. The Credit Agreement provides a $1.0 billion unsecured committed revolving credit facility with an initial maturity date of February 26, 2027.

On May 3, 2022, the Company entered into an amendment to the Credit Agreement with the same twelve banks under the initial Credit Agreement. This amendment modifies the definition of consolidated capitalization, for purposes of calculating the debt to capitalization ratio under the Credit Agreement, to exclude, beginning with the quarter ending June 30, 2022, all unrealized gains or losses on commodity-related derivative financial instruments and up to $10 million in unrealized gains or losses on other derivative financial instruments included in Accumulated Other Comprehensive Income (Loss) within Total Comprehensive Shareholders' Equity on the Company’s balance sheet.