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Employee Benefit Plans (Tables)

12 Months Ended

Oct. 31, 2012

Employee Benefit Plans Disclosure [Abstract]

The funding to the DCR plan accounts for the years ended October 31, 2012 and 2011, and the amounts recorded as liabilities for these deferred compensation plans as of October 31, 2012 and 2011 are presented below.

In thousands		2012		2011

Funding	$	422	$	352
Liability:
Current		160		52
Noncurrent		2,412		1,766

Term Life Insurance Premiums

The cost of these premiums is presented below.

In thousands		2012		2011		2010

Term life policies of certain officers at the vice president
level and above	$	43	$	56	$	57
Officers and director-level employees		25		24		24

Reconciliation Of Changes In The Plan's Benefit Obligations And Fair Value Of Assets; Statement Of The Funded Status And The Amounts Reflected In The Consolidated Balance Sheets

A reconciliation of changes in the plans' benefit obligations and fair value of assets for the years ended October 31, 2012 and 2011, and a statement of the funded status and the amounts reflected in the Consolidated Balance Sheets for the years ended October 31, 2012 and 2011 are presented below.

	Qualified Pension				Nonqualified Pension				Other Benefits
In thousands	2012		2011		2012		2011		2012		2011

Accumulated benefit obligation at year end	$	245,361	$	205,159	$	5,569	$	5,219		N/A		N/A

Change in projected benefit obligation:
Obligation at beginning of year	$	236,632	$	211,003	$	5,219	$	5,039	$	31,900	$	31,919
Service cost		9,573		8,508		39		45		1,387		1,398
Interest cost		10,640		11,024		203		209		1,347		1,495
Plan amendments		-		-		-		290		-		-
Actuarial (gain) loss		54,852		16,896		629		130		2,630		(327)
Participant contributions		-		-		-		-		788		898
Administrative expenses		(420)		(391)		-		-		-		-
Benefit payments		(17,950)		(10,408)		(521)		(494)		(3,222)		(3,483)
Obligation at end of year		293,327		236,632		5,569		5,219		34,830		31,900

Change in fair value of plan assets:
Fair value at beginning of year		259,511		228,345		-		-		22,045		21,636
Actual return on plan assets		31,196		19,965		-		-		1,972		792
Employer contributions		-		22,000		521		494		2,080		2,202
Participant contributions		-		-		-		-		788		898
Administrative expenses		(420)		(391)		-		-		-		-
Benefit payments		(17,950)		(10,408)		(521)		(494)		(3,222)		(3,483)
Fair value at end of year		272,337		259,511		-		-		23,663		22,045
Funded status at year end - (under) over	$	(20,990)	$	22,879	$	(5,569)	$	(5,219)	$	(11,167)	$	(9,855)

Noncurrent assets	$	-	$	22,879	$	-	$	-	$	-	$	-
Current liabilities		-		-		(502)		(517)		-		-
Noncurrent liabilities		(20,990)		-		(5,067)		(4,702)		(11,167)		(9,855)
Net amount recognized	$	(20,990)	$	22,879	$	(5,569)	$	(5,219)	$	(11,167)	$	(9,855)

Amounts Not Yet Recognized as a Component
of Cost and Recognized in a Deferred
Regulatory Account:
Unrecognized transition obligation	$	-	$	-	$	-	$	-	$	(667)	$	(1,334)
Unrecognized prior service (cost) credit		19,441		21,638		(277)		(358)		-		-
Unrecognized actuarial loss		(137,633)		(99,653)		(1,521)		(941)		(2,633)		(424)
Regulatory asset		(118,192)		(78,015)		(1,798)		(1,299)		(3,300)		(1,758)
Cumulative employer contributions in
excess of cost		97,202		100,894		(3,771)		(3,920)		(7,867)		(8,097)
Net amount recognized	$	(20,990)	$	22,879	$	(5,569)	$	(5,219)	$	(11,167)	$	(9,855)

Components Of Net Periodic Benefit Cost

Net periodic benefit cost for the years ended October 31, 2012, 2011 and 2010 includes the following components.

	Qualified Pension						Nonqualified Pension						Other Benefits
In thousands	2012		2011		2010		2012		2011		2010		2012		2011		2010

Service cost	$	9,573	$	8,508	$	8,069	$	39	$	45	$	38	$	1,387	$	1,398	$	1,337
Interest cost		10,640		11,024		10,898		203		209		243		1,347		1,495		1,906
Expected return on plan
assets		(20,289)		(20,608)		(18,773)		-		-		-		(1,551)		(1,534)		(1,381)
Amortization of transition
obligation		-		-		-		-		-		-		667		667		667
Amortization of prior
service cost (credit)		(2,198)		(2,198)		(2,198)		81		20		20		-		-		-
Amortization of net loss		5,966		3,547		1,998		49		41		9		-		-		236
Net periodic benefit
(income) cost		3,692		273		(6)		372		315		310		1,850		2,026		2,765
Other changes in plan
assets and benefit
obligation recognized
through regulatory asset
or liability:
Prior service cost		-		-		-		-		290		-		-		-		-
Net loss (gain)		43,945		17,539		(6,587)		629		130		420		2,209		415		(5,229)
Amounts recognized as a
component of net periodic
benefit cost:
Transition obligation		-		-		-		-		-		-		(667)		(667)		(667)
Amortization of net loss		(5,966)		(3,547)		(1,998)		(49)		(41)		(9)		-		-		(236)
Prior service (cost) credit		2,198		2,198		2,198		(81)		(20)		(20)		-		-		-
Total recognized in
regulatory asset (liability)		40,177		16,190		(6,387)		499		359		391		1,542		(252)		(6,132)
Total recognized in net
periodic benefit cost and
regulatory asset (liability)	$	43,869	$	16,463	$	(6,393)	$	871	$	674	$	701	$	3,392	$	1,774	$	(3,367)

Amortization Recorded As A Regulatory Asset Or Liability Expected Refunds For Defined Benefit Plans

The 2013 estimated amortization of the following items, which are recorded as a regulatory asset or liability instead of accumulated OCI discussed above, and expected refunds for our plans are as follows.

In thousands	Qualified Pension		Nonqualified Pension		Other Benefits

Amortization of transition obligation	$	-	$	-	$	667
Amortization of unrecognized prior service cost (credit)		(2,198)		81		-
Amortization of unrecognized actuarial loss		10,982		161		-
Refunds expected		-		-		-

Benefit Obligation Benchmark Discount Rate

As of October 31, 2012, the benchmark by plan was as follows.

Pension plan		3.51%
NCNG SERP		2.90%
Directors' SERP		3.08%
Piedmont SERP		2.32%
OPEB		3.34%

The Weighted Average Assumptions Used To Determine The Benefit Obligation and Net Periodic Benefit Cost

The weighted average assumptions used in the measurement of the benefit obligation as of October 31, 2012 and 2011 are presented below.

	Qualified Pension		Nonqualified Pension		Other Benefits
	2012	2011	2012	2011	2012	2011

Discount rate	3.51%	4.67%	2.95%	4.10%	3.34%	4.36%
Rate of compensation increase	3.76%	3.78%	N/A	N/A	N/A	N/A

The weighted average assumptions used to determine the net periodic benefit cost as of October 31, 2012, 2011 and 2010 are presented below.

	Qualified Pension			Nonqualified Pension
	2012	2011	2010	2012	2011	2010

Discount rate	4.67%	5.47%	5.99%	4.10%	4.37%	5.28%
Expected long-term rate of return on plan assets	8.00%	8.00%	8.00%	N/A	N/A	N/A
Rate of compensation increase	3.78%	3.87%	3.92%	N/A	N/A	N/A

	Other Benefits
	2012	2011	2010

Discount rate	4.36%	4.85%	5.58%
Expected long-term rate of return on plan assets	8.00%	8.00%	8.00%
Rate of compensation increase	N/A	N/A	N/A

Anticipated Employer Contribution To Benefit Plans

We anticipate that we will contribute the following amounts to our plans in 2013.

In thousands

Qualified pension plan	$	20,000
Nonqualified pension plans		502
MPP plan		695
OPEB plan		1,500

Expected Benefit Payments For The Next Ten Years

Benefit payments, which reflect expected future service, as appropriate, are expected to be paid for the next ten years ending October 31 as follows.

	Qualified		Nonqualified		Other
In thousands	Pension		Pension		Benefits

2013	$	25,080	$	502	$	2,002
2014		15,035		476		2,129
2015		15,325		484		2,209
2016		15,099		456		2,261
2017		16,101		430		2,354
2018 - 2022		101,130		1,988		12,861

Assumed Health Care Cost Trend Rates

The assumed health care cost trend rates used in measuring the accumulated OPEB obligation for the medical plans for all participants as of October 31, 2012 and 2011 are presented below.

	2012	2011

Health care cost trend rate assumed for next year	7.50%	7.70%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2027	2027

Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A change of 1% would have the following effects.

In thousands	1% Increase		1% Decrease

Effect on total of service and interest cost components of net periodic
postretirement health care benefit cost for the year ended October 31, 2012	$	33	$	(34)
Effect on the health care cost component of the accumulated postretirement
benefit obligation as of October 31, 2012		677		(701)

Redemption Limitations, Restrictions and Notice Requirements

As stated above, some of our investments for the qualified pension plan have redemption limitations, restrictions and notice requirements which are further explained below.

			Redemptions
	Redemption		Notice
Investment	Frequency	Other Redemption Restrictions	Period

Common trust fund -	Monthly	None	30 days
International growth

Hedge fund of funds	Quarterly	Redeemed in whole or part but not less than the minimum redemption amount for each currency. Redemption within one year of purchase is subject to 1.5% redemption fee. Redeemed on "first in first out" basis. None of our investment is subject to the redemption fee. Fund's Board of Directors may limit or suspend share redemptions until a further notification ending suspension. No such notification has been received as of October 31, 2012.	65 days

Private equity fund of funds	Limited	Investors have only very limited withdrawal rights for specific legal or regulatory reasons. Any transfer of interest will be subject to approval.	(1)

Commodities fund of funds	Monthly	Redemption within one year of purchase is subject to 1% redemption fee. None of our investment is subject to the redemption fee. If 95% or more of the balance is requested, 95% of the balance will be paid within 30 days. Any outstanding balance or interest owed will be paid after the annual audit is complete.	35 days

(1) The investment cannot be redeemed. We receive distributions only through the liquidation of the underlying assets. The assets are expected to be liquidated over the next 10 to 12 years.

The Qualified Pension And The OPEB Plan's Asset Allocations By Level Within The Fair Value Hierarchy

The qualified pension plan's asset allocations by level within the fair value hierarchy at October 31, 2012 and 2011 are presented below.

	Qualified Pension Plan as of October 31, 2012
			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable		Total
	Markets		Inputs		Inputs		Carrying		% of
In thousands	(Level 1)		(Level 2)		(Level 3)		Value		Total

Cash and cash equivalents	$	5,346	$	-	$	-	$	5,346	2%
Fixed Income Securities:									45%
U.S. treasuries		-		17,544		-		17,544	6%
Long duration bonds		-		63,565		-		63,565	23%
Corporate bonds		-		26,368		-		26,368	10%
High yield bonds		13,777		-		-		13,777	5%
Collateralized mortgage
obligations		-		1,513		-		1,513	1%
Municipals		-		345		-		345	-\%
Derivatives		(3)		(86)		-		(89)	-\%
Equity Securities:									36%
Large cap core index		10,260		-		-		10,260	4%
Large cap value		10,427		-		-		10,427	4%
Large cap growth		15,252		-		-		15,252	6%
Small cap value		26,335		-		-		26,335	10%
International value		14,376		-		-		14,376	5%
Common trust fund - International
growth		-		18,678		-		18,678	7%
Real Estate:									6%
Global REIT		16,252		-		-		16,252	6%
Other Investments:									11%
Hedge fund of funds		-		16,995		-		16,995	6%
Private equity fund of funds		-		-		3,522		3,522	1%
Commodities fund of funds		-		11,871		-		11,871	4%
Total assets at fair value	$	112,022	$	156,793	$	3,522	$	272,337	100%
Percent of fair value hierarchy		41%		58%		1%		100%

	Qualified Pension Plan as of October 31, 2011
				Significant
		Quoted Prices		Other		Significant
		in Active		Observable		Unobservable		Total
		Markets		Inputs		Inputs		Carrying	% of
In thousands		(Level 1)		(Level 2)		(Level 3)		Value	Total

Cash and cash equivalents	$	5,891	$	2	$	-	$	5,893	2%
Fixed Income Securities:									45%
U.S. treasuries		-		11,109		-		11,109	4%
Long duration bonds		66,824		-		-		66,824	26%
Corporate bonds		-		24,383		-		24,383	9%
High yield bonds		12,504		-		-		12,504	5%
Collateralized mortgage
obligations		-		1,448		-		1,448	1%
Municipals		-		324		-		324	-\%
Derivatives		(25)		437		-		412	-\%
Equity Securities:									35%
Large cap core index		11,206		-		-		11,206	4%
Large cap value		8,623		-		-		8,623	3%
Large cap growth		15,897		-		-		15,897	6%
Small cap value		23,827		-		-		23,827	9%
International value		13,770		-		-		13,770	6%
Common trust fund - International
growth		18,057		-		-		18,057	7%
Real Estate:									6%
Global REIT		14,909		-		-		14,909	6%
Other Investments:									12%
Hedge fund of funds		-		10,089		6,207		16,296	6%
Private equity fund of funds		-		-		1,925		1,925	1%
Commodities fund of funds		-		3,632		8,472		12,104	5%
Total assets at fair value	$	191,483	$	51,424	$	16,604	$	259,511	100%
Percent of fair value hierarchy		74%		20%		6%		100%

	Other Benefits as of October 31, 2012
			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable		Total
	Markets		Inputs		Inputs		Carrying		% of
In thousands	(Level 1)		(Level 2)		(Level 3)		Value		Total

Cash and cash equivalents	$	926	$	-	$	-	$	926	4%
Fixed Income Securities:									46%
U.S. treasuries		2,345		-		-		2,345	10%
Corporate bonds / Asset-backed
securities		8,474		-		-		8,474	36%
Equity Securities:									45%
Large cap value		1,221		-		-		1,221	5%
Large cap growth		1,149		-		-		1,149	5%
Small cap value		1,177		-		-		1,177	5%
Small cap growth		1,155		-		-		1,155	5%
Large cap index		2,148		-		-		2,148	9%
International blend		3,907		-		-		3,907	16%
Real Estate:									5%
Global REIT		1,161		-		-		1,161	5%
Total assets at fair value	$	23,663	$	-	$	-	$	23,663	100%
Percent of fair value hierarchy		100%		-\%		-\%		100%

	Other Benefits as of October 31, 2011
			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable		Total
	Markets		Inputs		Inputs		Carrying		% of
In thousands	(Level 1)		(Level 2)		(Level 3)		Value		Total

Cash and cash equivalents	$	1,011	$	-	$	-	$	1,011	5%
Fixed Income Securities:									45%
U.S. treasuries		2,162		-		-		2,162	10%
Corporate bonds / Asset-backed
securities		7,790		-		-		7,790	35%
Equity Securities:									45%
Large cap value		1,108		-		-		1,108	5%
Large cap growth		1,107		-		-		1,107	5%
Small cap value		1,092		-		-		1,092	5%
Small cap growth		1,131		-		-		1,131	5%
Large cap index		1,996		-		-		1,996	9%
International blend		3,557		-		-		3,557	16%
Real Estate:									5%
Global REIT		1,091		-		-		1,091	5%
Total assets at fair value	$	22,045	$	-	$	-	$	22,045	100%
Percent of fair value hierarchy		100%		-\%		-\%		100%

Level 3 Qualified Pension Plan Reconciliation

During the period, we transferred amounts from Level 3 to Level 2 for our investments in the hedge fund of funds and the commodities fund of funds because inputs became more observable. Long duration bonds and the common trust fund – international growth investments were classified as Level 1 assets as of October 31, 2011 and as Level 2 assets at October 31, 2012 due to changes in observable inputs. The following is a reconciliation of the assets in the qualified pension plan that are classified as Level 3 in the fair value hierarchy.

			Private
	Hedge Fund		Equity Fund		Commodities
In thousands	of Funds		of Funds		Fund of Funds			Total

Balance, October 31, 2010	$	5,196	$	580	$	-	$	5,776
Actual return on plan assets:
Relating to assets still held at the reporting date		(1,236)		66		(488)		(1,658)
Relating to assets sold during the period		-		-		-		-
Purchases, sales and settlements (net)		2,247		1,279		8,960		12,486
Transfer in/out of Level 3		-		-		-		-
Balance, October 31, 2011		6,207		1,925		8,472		16,604
Actual return on plan assets:
Relating to assets still held at the reporting date		-		13		-		13
Relating to assets sold during the period		-		145		-		145
Purchases, sales and settlements (net)		-		1,439		-		1,439
Transfer in/out of Level 3		(6,207)		-		(8,472)		(14,679)
Balance, October 31, 2012	$	-	$	3,522	$	-	$	3,522

401(K) Matching Contributions

For the years ended October 31, 2012, 2011 and 2010, we made matching contributions to participant accounts as follows.

In thousands	2012		2011		2010

401(k) matching contributions	$	5,400	$	5,203	$	5,269