Financial Instruments & Related Fair Value (Tables)

9 Months Ended

Jul. 31, 2016

Financial Instruments And Related Fair Value [Abstract]

Assets And Liabilities Measured And Recorded At Fair Value On Recurring Basis

Recurring Fair Value Measurements as of July 31, 2016
In thousands	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Effects of Netting and Cash Collateral Receivables / Payables		Total Carrying Value
Assets:
Derivatives - gas purchase options held for utility operations	$	4,231	$	—	$	—	$	—	$	4,231
Debt and equity securities held as trading securities:
Money markets	605		—		—		—		605
Mutual funds	4,807		—		—		—		4,807
Total fair value assets	$	9,643	$	—	$	—	$	—	$	9,643
Liabilities:
Derivatives - gas supply contracts held for utility operations	$	—	$	—	$	182,900	$	—	$	182,900

Recurring Fair Value Measurements as of October 31, 2015
In thousands	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Effects of Netting and Cash Collateral Receivables / Payables		Total Carrying Value
Assets:
Derivatives - gas purchase options held for utility operations	$	1,343	$	—	$	—	$	—	$	1,343
Debt and equity securities held as trading securities:
Money markets	516		—		—		—		516
Mutual funds	4,386		—		—		—		4,386
Total fair value assets	$	6,245	$	—	$	—	$	—	$	6,245

The following table sets forth, by level of the fair value hierarchy, our financial and nonfinancial assets and liabilities that were accounted for at fair value on a recurring basis as of July 31, 2016 and October 31, 2015.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following is a reconciliation of the gas supply derivative liabilities that are classified as Level 3 in the fair value hierarchy for the three months and nine months ended July 31, 2016.

In thousands	Three Months		Nine Months
Gas supply derivative liabilities, beginning balance	$	164,900	$	—
Realized and unrealized losses:
Recorded to regulatory assets *	18,000		182,900
Purchases, sales and settlements (net)	—		—
Transfer in/out of Level 3	—		—
Gas supply derivative liabilities, ending balance	$	182,900	$	182,900
* Included are the actual costs recorded in "Cost of Gas" in the Condensed Consolidated Statements of Operations and Comprehensive Income due to the confidential nature of contract pricing.

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table presents the impact that our gas purchase options not designated as hedging instruments under derivative accounting standards would have had on the Condensed Consolidated Statements of Operations and Comprehensive Income for the three months and nine months ended July 31, 2016 and 2015, absent the regulatory treatment under our approved PGA procedures.

	Amount of Loss Recognized on Derivative Instruments and Deferred Under PGA Procedures												Location of Loss Recognized through PGA Procedures
	Three Months Ended   July 31						Nine Months Ended   July 31
In thousands	2016			2015			2016			2015
Gas purchase options	$	(886	)	$	(1,007	)	$	(4,428	)	$	(3,296	)	Cost of Gas

The following table presents the fair value and balance sheet classification of our gas purchase options and gas supply derivative contracts for natural gas as of July 31, 2016 and October 31, 2015.

Fair Value of Derivative Instruments
	July 31,		October 31,
In thousands	2016		2015
Derivatives Not Designated as Hedging Instruments under Derivative Accounting Standards:
Financial Asset Instruments:
Current Assets – Gas purchase derivative assets	$	4,231	$	1,343
Nonfinancial Liability Instruments:
Current Liabilities – Gas supply derivative liabilities	33,300
Noncurrent Liabilities – Gas supply derivative liabilities	149,600

Fair Value By Balance Sheet Grouping

The principal and fair value of our long-term debt, including the current portion, which is classified within Level 2, are shown below.

In thousands	Principal		Fair Value
As of July 31, 2016	$	1,835,000	$	2,131,778
As of October 31, 2015	1,575,000		1,720,586