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Employee Benefit Plans (Tables)

12 Months Ended

Oct. 31, 2013

Employee Benefit Plans Disclosure [Abstract]

The funding to the DCR plan accounts for the years ended October 31, 2013 and 2012, and the amounts recorded as liabilities for these deferred compensation plans as of October 31, 2013 and 2012 are presented below.

In thousands		2013		2012

Funding	$	434	$	422
Liability:
Current		199		160
Noncurrent		3,328		2,412

Term Life Insurance Premiums

The cost of these premiums is presented below.

In thousands		2013		2012		2011

Term life policies of certain officers at the vice president
level and above	$	27	$	43	$	56
Officers and director-level employees		28		25		24

Reconciliation Of Changes In The Plans' 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, 2013 and 2012, and a statement of the funded status and the amounts reflected in the Consolidated Balance Sheets for the years ended October 31, 2013 and 2012 are presented below.

	Qualified Pension				Nonqualified Pension				Other Benefits
In thousands	2013		2012		2013		2012		2013		2012

Accumulated benefit obligation at year end	$	230,175	$	245,361	$	4,736	$	5,569		N/A		N/A

Change in projected benefit obligation:
Obligation at beginning of year	$	293,327	$	236,632	$	5,569	$	5,219	$	34,830	$	31,900
Service cost		12,005		9,573		-		39		1,327		1,387
Interest cost		9,946		10,640		157		203		1,130		1,347
Actuarial (gain) loss		(24,859)		54,852		(540)		629		(1,094)		2,630
Participant contributions		-		-		-		-		641		788
Administrative expenses		(534)		(420)		-		-		-		-
Benefit payments		(17,482)		(17,950)		(450)		(521)		(3,156)		(3,222)
Obligation at end of year		272,403		293,327		4,736		5,569		33,678		34,830

Change in fair value of plan assets:
Fair value at beginning of year		272,337		259,511		-		-		23,663		22,045
Actual return on plan assets		26,340		31,196		-		-		2,848		1,972
Employer contributions		20,000		-		450		521		1,965		2,080
Participant contributions		-		-		-		-		641		788
Administrative expenses		(534)		(420)		-		-		-		-
Benefit payments		(17,482)		(17,950)		(450)		(521)		(3,156)		(3,222)
Fair value at end of year		300,661		272,337		-		-		25,961		23,663
Funded status at year end - (under) over	$	28,258	$	(20,990)	$	(4,736)	$	(5,569)	$	(7,717)	$	(11,167)

Noncurrent assets	$	28,258	$	-	$	-	$	-	$	-	$	-
Current liabilities		-		-		(445)		(502)		-		-
Noncurrent liabilities		-		(20,990)		(4,291)		(5,067)		(7,717)		(11,167)
Net amount recognized	$	28,258	$	(20,990)	$	(4,736)	$	(5,569)	$	(7,717)	$	(11,167)

Amounts Not Yet Recognized as a Component
of Cost and Recognized in a Deferred
Regulatory Account:
Unrecognized transition obligation	$	-	$	-	$	-	$	-	$	-	$	(667)
Unrecognized prior service (cost) credit		17,243		19,441		(196)		(277)		-		-
Unrecognized actuarial loss		(96,338)		(137,633)		(820)		(1,521)		(354)		(2,633)
Regulatory asset		(79,095)		(118,192)		(1,016)		(1,798)		(354)		(3,300)
Cumulative employer contributions in
excess of cost		107,353		97,202		(3,720)		(3,771)		(7,363)		(7,867)
Net amount recognized	$	28,258	$	(20,990)	$	(4,736)	$	(5,569)	$	(7,717)	$	(11,167)

Components Of Net Periodic Benefit Cost

Net periodic benefit cost for the years ended October 31, 2013, 2012 and 2011 includes the following components.

	Qualified Pension						Nonqualified Pension						Other Benefits
In thousands	2013		2012		2011		2013		2012		2011		2013		2012		2011

Service cost	$	12,005	$	9,573	$	8,508	$	-	$	39	$	45	$	1,327	$	1,387	$	1,398
Interest cost		9,946		10,640		11,024		157		203		209		1,130		1,347		1,495
Expected return on plan
assets		(21,105)		(20,289)		(20,608)		-		-		-		(1,663)		(1,551)		(1,534)
Amortization of transition
obligation		-		-		-		-		-		-		667		667		667
Amortization of prior
service cost (credit)		(2,198)		(2,198)		(2,198)		81		81		20		-		-		-
Amortization of net loss		11,202		5,966		3,547		161		49		41		-		-		-
Net periodic benefit cost		9,850		3,692		273		399		372		315		1,461		1,850		2,026
Other changes in plan
assets and benefit
obligation recognized
through regulatory asset
or liability:
Prior service cost		-		-		-		-		-		290		-		-		-
Net loss (gain)		(30,094)		43,945		17,539		(540)		629		130		(2,278)		2,209		415
Amounts recognized as a
component of net periodic
benefit cost:
Transition obligation		-		-		-		-		-		-		(667)		(667)		(667)
Amortization of net loss		(11,202)		(5,966)		(3,547)		(161)		(49)		(41)		-		-		-
Prior service (cost) credit		2,198		2,198		2,198		(81)		(81)		(20)		-		-		-
Total recognized in
regulatory asset (liability)		(39,098)		40,177		16,190		(782)		499		359		(2,945)		1,542		(252)
Total recognized in net
periodic benefit cost and
regulatory asset (liability)	$	(29,248)	$	43,869	$	16,463	$	(383)	$	871	$	674	$	(1,484)	$	3,392	$	1,774

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

The 2014 estimated amortization of the following items for our plans, which are recorded as a regulatory asset or liability instead of accumulated OCIL discussed above, are as follows.

In thousands	Qualified Pension		Nonqualified Pension		Other Benefits

Amortization of unrecognized prior service cost (credit)	$	(2,198)	$	81	$	-
Amortization of unrecognized actuarial loss		7,138		47		-

Benefit Obligation Benchmark Discount Rate

As of October 31, 2013, the benchmark by plan was as follows.

Pension plan		4.55%
NCNG SERP		3.89%
Directors' SERP		4.09%
Piedmont SERP		3.31%
OPEB		4.44%

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, 2013 and 2012 are presented below.

	Qualified Pension		Nonqualified Pension		Other Benefits
	2013	2012	2013	2012	2013	2012

Discount rate	4.55%	3.51%	3.98%	2.95%	4.44%	3.34%
Rate of compensation increase	3.72%	3.76%	N/A	N/A	N/A	N/A

The weighted average assumptions used to determine the net periodic benefit cost as of October 31, 2013, 2012 and 2011 are presented below.

	Qualified Pension			Nonqualified Pension
	2013	2012	2011	2013	2012	2011

Discount rate	3.51%	4.67%	5.47%	2.95%	4.10%	4.37%
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	3.76%	3.78%	3.87%	N/A	N/A	N/A

	Other Benefits
	2013	2012	2011

Discount rate	3.34%	4.36%	4.85%
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 2014.

In thousands

Qualified pension plan *	$	20,000
Nonqualified pension plans		444
MPP plan		885
OPEB plan		1,500

* Funded in November 2013.

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

2014	$	25,918	$	444	$	2,140
2015		16,918		458		2,262
2016		15,169		434		2,322
2017		16,154		410		2,417
2018		18,672		383		2,507
2019 - 2023		106,226		1,890		13,640

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, 2013 and 2012 are presented below.

	2013	2012

Health care cost trend rate assumed for next year	7.40%	7.50%
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, 2013	$	21	$	(27)
Effect on the health care cost component of the accumulated postretirement
benefit obligation as of October 31, 2013		690		(699)

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

Common trust fund -	Daily	None	5 days
International value

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, 2013.	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, 2013 and 2012 are presented below.

	Qualified Pension Plan as of October 31, 2013
			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	$	5,566	$	156	$	-	$	5,722	2%
Fixed Income Securities:									38%
U.S. treasuries		-		24,078		-		24,078	8%
Long duration bonds		-		34,041		-		34,041	11%
Corporate bonds		-		42,701		-		42,701	14%
High yield bonds		14,680		-		-		14,680	5%
Collateralized mortgage
obligations		-		1,098		-		1,098	-%
Municipals		-		-		-		-	-%
Derivatives		6		(17)		-		(11)	-%
Equity Securities:									43%
Large cap core index		12,023		-		-		12,023	4%
Large cap value		16,908		-		-		16,908	6%
Large cap growth		17,823		-		-		17,823	6%
Small cap value		30,831		-		-		30,831	10%
Common trust fund - International
value		-		24,460		-		24,460	8%
Common trust fund - International
growth		-		27,270		-		27,270	9%
Real Estate:									5%
Global REIT		15,042		-		-		15,042	5%
Other Investments:									12%
Hedge fund of funds		-		18,571		-		18,571	6%
Private equity fund of funds		-		-		4,659		4,659	2%
Commodities fund of funds		-		10,765		-		10,765	4%
Total assets at fair value	$	112,879	$	183,123	$	4,659	$	300,661	100%
Percent of fair value hierarchy		37%		61%		2%		100%

	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%

	Other Benefits as of October 31, 2013
			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	$	982	$	-	$	-	$	982	4%
Fixed Income Securities:									46%
U.S. treasuries		2,582		-		-		2,582	10%
Corporate bonds / Other fixed
income securities		9,232		-		-		9,232	36%
Equity Securities:									45%
Large cap value		1,327		-		-		1,327	5%
Large cap growth		1,352		-		-		1,352	5%
Small cap value		1,331		-		-		1,331	5%
Small cap growth		1,313		-		-		1,313	5%
Large cap index		2,384		-		-		2,384	9%
International blend		4,206		-		-		4,206	16%
Real Estate:									5%
Global REIT		1,252		-		-		1,252	5%
Total assets at fair value	$	25,961	$	-	$	-	$	25,961	100%
Percent of fair value hierarchy		100%		-%		-%		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 / Other fixed
income 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%

Level 3 Qualified Pension Plan Reconciliation

In 2012, 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. The international value fund that was classified as a Level 1 asset as of October 31, 2012 was sold, and the proceeds were invested in the common trust fund – international value during fiscal year 2013. 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, 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
Actual return on plan assets:
Relating to assets still held at the reporting date		-		116		-		116
Relating to assets sold during the period		-		61		-		61
Purchases, sales and settlements (net)		-		960		-		960
Transfer in/out of Level 3		-		-		-		-
Balance, October 31, 2013	$	-	$	4,659	$	-	$	4,659

401(K) Matching Contributions

For the years ended October 31, 2013, 2012 and 2011, we made matching contributions to participant accounts as follows.

In thousands	2013		2012		2011

401(k) matching contributions	$	5,688	$	5,400	$	5,203