Capitalization

3 Months Ended

Dec. 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 October 1, 2022	91,478	$	91,478	$	1,027,066	$	1,587,085	$	(625,733)
Net Income Available for Common Stock						169,689
Dividends Declared on Common Stock ($0.475 Per Share)						(43,598)

Other Comprehensive Income, Net of Tax								331,987
Share-Based Payment Expense (1)				5,118

Common Stock Issued (Repurchased) Under Stock and Benefit Plans	309	309		(6,545)
Balance at December 31, 2022	91,787	$	91,787	$	1,025,639	$	1,713,176	$	(293,746)











Balance at October 1, 2021	91,182	$	91,182	$	1,017,446	$	1,191,175	$	(513,597)
Net Income Available for Common Stock						132,392
Dividends Declared on Common Stock ($0.455 Per Share)						(41,604)

Other Comprehensive Income, Net of Tax								236,571
Share-Based Payment Expense (1)				5,039

Common Stock Issued (Repurchased) Under Stock and Benefit Plans	255	255		(8,664)
Balance at December 31, 2021	91,437	$	91,437	$	1,013,821	$	1,281,963	$	(277,026)

(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 three months ended December 31, 2022, the Company issued 12,055 original issue shares of common stock as a result of SARs exercises, 113,531 original issue shares of common stock for restricted stock units that vested and 278,687 original issue shares of common stock for performance shares that vested. The Company also issued 7,230 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 three months ended December 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 three months ended December 31, 2022, 102,761 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.

Short-Term Borrowings. On June 30, 2022, the Company entered into a new 364-Day Credit Agreement (the "364-Day Credit Agreement") with a syndicate of five banks, all of which are also lenders under the Credit Agreement. The 364-Day Credit Agreement provides an additional $250.0 million unsecured committed delayed draw term loan credit facility with a maturity date of June 29, 2023. The Company elected to draw $250.0 million under the facility on October 27, 2022. The Company is using the proceeds for general corporate purposes, which included the redemption in November 2022 of $150.0 million of the Company's outstanding long-term debt maturing in March 2023.

Current Portion of Long-Term Debt. The Current Portion of Long-Term Debt at December 31, 2022 consists of $350.0 million of 3.75% notes and $49.0 million of 7.395% notes that mature in March 2023. The Current Portion of Long-Term Debt at September 30, 2022 consisted of $500.0 million of 3.75% notes and $49.0 million of 7.395% notes. The Company redeemed $150.0 million of the 3.75% notes on November 25, 2022 using a portion of the proceeds from short-term borrowings, as discussed above.