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Financial Instruments (Table)
 6 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Financial instruments on the balance sheet
The following tables present the fair value and balance sheet classification of our financial instruments as of March 31, 2018 and September 30, 2017. The gross amounts of recognized assets and liabilities are netted within our unaudited Condensed Consolidated Balance Sheets to the extent that we have netting arrangements with our counterparties.
 
 
 
 
 
Balance Sheet Location
 
Assets
 
Liabilities
 
 
 
 (In thousands)
March 31, 2018
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
Interest rate contracts
Other current assets /
Other current liabilities
 
$
—

 
$
(85,948
)
Total
 
 
—

 
(85,948
)
Not Designated As Hedges:
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
602

 
(996
)
Total
 
 
602

 
(996
)
Gross Financial Instruments
 
 
602

 
(86,944
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
Contract netting
 
 
—

 
—

Net Financial Instruments
 
 
602

 
(86,944
)
Cash collateral
 
 
—

 
—

Net Assets/Liabilities from Risk Management Activities
 
 
$
602

 
$
(86,944
)
 
 
 
 
 
Balance Sheet Location
 
Assets
 
Liabilities
 
 
 
 (In thousands)
September 30, 2017
 
 
 
 
 
Designated As Hedges:
 
 
 
 
 
Interest rate contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
$
—

 
$
(112,076
)
Total
 
 
—

 
(112,076
)
Not Designated As Hedges:
 
 
 
 
 
Commodity contracts
Other current assets /
Other current liabilities
 
2,436

 
(322
)
Commodity contracts
Deferred charges and other assets /
Deferred credits and other liabilities
 
803

 
—

Total
 
 
3,239

 
(322
)
Gross Financial Instruments
 
 
3,239

 
(112,398
)
Gross Amounts Offset on Consolidated Balance Sheet:
 
 
 
 
 
Contract netting
 
 
—

 
—

Net Financial Instruments
 
 
3,239

 
(112,398
)
Cash collateral
 
 
—

 
—

Net Assets/Liabilities from Risk Management Activities
 
 
$
3,239

 
$
(112,398
)
 
Other comprehensive income from hedging table
The following table summarizes the gains and losses arising from hedging transactions that were recognized as a component of other comprehensive income (loss), net of taxes, for the three and six months ended March 31, 2018 and 2017. The amounts included in the table below exclude gains and losses arising from ineffectiveness because those amounts are immediately recognized in the income statement as incurred.
 
Three Months Ended 
 March 31
 
Six Months Ended 
 March 31
 
2018
 
2017 (1)
 
2018
 
2017 (1)
 
(In thousands)
Increase in fair value:
 
 
 
 
 
 
 
Interest rate agreements
$
21,786

 
$
4,144

 
$
20,454

 
$
95,271

Forward commodity contracts(2)
—

 
—

 
—

 
9,847

Recognition of (gains) losses in earnings due to settlements:
 
 
 
 
 
 
 
Interest rate agreements
458

 
86

 
835

 
173

Forward commodity contracts(2)
—

 
—

 
—

 
(4,865
)
Total other comprehensive income from hedging, net of tax
$
22,244

 
$
4,230

 
$
21,289

 
$
100,426


 
(1)
Utilizing an income tax rate ranging from 37 percent to 39 percent based on the effective rates in each taxing jurisdiction for the three and six-month period ended March 31, 2017.
(2)
Due to the sale of AEM, these amounts are included in income from discontinued operations.
Expected recognition in earnings of deferred gains/(losses) in AOCI table
The following amounts, net of deferred taxes, represent the expected recognition in earnings, as of March 31, 2018, of the deferred losses recorded in AOCI associated with our financial instruments, based upon the fair values of these financial instruments at the date of settlement. However, the table below does not include the expected recognition in earnings of our outstanding interest rate agreements as those instruments have not yet settled.
 
Interest Rate
Agreements
 
(In thousands)
Next twelve months
$
(1,833
)
Thereafter
(47,281
)
Total
$
(49,114
)