Discontinued Operations

12 Months Ended

Sep. 30, 2012

Discontinued Operations [Abstract]

Discontinued Operations

Note J — Discontinued Operations

On September 1, 2010, the Company sold its landfill gas operations in the states of Ohio, Michigan, Kentucky, Missouri, Maryland and Indiana. Those operations consisted of short distance landfill gas pipeline companies engaged in the purchase, sale and transportation of landfill gas. The Company’s landfill gas operations were maintained under the Company’s wholly-owned subsidiary, Horizon LFG. The Company received approximately $38.0 million of proceeds from the sale. The sale resulted in the recognition of a gain of approximately $6.3 million, net of tax, during the fourth quarter of 2010. The decision to sell was based on progressing the Company’s strategy of divesting its smaller, non-core assets in order to focus on its core businesses, including the development of the Marcellus Shale and the construction of key pipeline infrastructure projects throughout the Appalachian region. As a result of the decision to sell the landfill gas operations, the Company began presenting these operations as discontinued operations during the fourth quarter of 2010.

The following is selected financial information of the discontinued operations for the sale of the Company’s landfill gas operations:

	Year Ended September 30,  2010
	(Thousands)
Operating Revenues...........................................................................................................................................................	$ 9,919
Operating Expenses............................................................................................................................................................	8,933
Operating Income.................................................................................................................................................................	986
Other Income..........................................................................................................................................................................	4
Interest Income.....................................................................................................................................................................	2
Interest Expense...................................................................................................................................................................	29
Income before Income Taxes.........................................................................................................................................	963
Income Tax Expense...........................................................................................................................................................	493
Income from Discontinued Operations.......................................................................................................................	470
Gain on Disposal, Net of Taxes of $4,024...............................................................................................................	6,310
Income from Discontinued Operations.......................................................................................................................	$ 6,780