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Guarantor and Non-Guarantor Financial Information (Tables) | 3 Months Ended
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Dec. 31, 2015
Guarantor and Non-Guarantor Financial Information |
Schedule of Consolidated Condensed Statements of Income | CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands)
|  | Three Months Ended December 31, 2015 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 405,537 |  | $ | 82,327 |  | $ | (17 | ) | $ | 487,847 |
Operating costs and other |  | 2,705 |  | 356,751 |  | 90,122 |  | (401 | ) | 449,177 |
Operating income (loss) from continuing operations |  | (2,705 | ) | 48,786 |  | (7,795 | ) | 384 |  | 38,670 |
Other income |  | 20 |  | 656 |  | 180 |  | (384 | ) | 472 |
Interest expense |  | (62 | ) | (4,718 | ) | 256 |  | — |  | (4,524 | )
Equity in net income (loss) of subsidiaries |  | 17,549 |  | (8,197 | ) | — |  | (9,352 | ) | — |
Income (loss) from continuing operations before income taxes |  | 14,802 |  | 36,527 |  | (7,359 | ) | (9,352 | ) | 34,618 |
Income tax provision |  | (1,200 | ) | 19,227 |  | 693 |  | — |  | 18,720 |
Income (loss) from continuing operations |  | 16,002 |  | 17,300 |  | (8,052 | ) | (9,352 | ) | 15,898 |
Income from discontinued operations before income taxes |  | — |  | — |  | 104 |  | — |  | 104 |
Income tax provision |  | — |  | — |  | — |  | — |  | — |
Income from discontinued operations |  | — |  | — |  | 104 |  | — |  | 104 |
Net income (loss) |  | $ | 16,002 |  | $ | 17,300 |  | $ | (7,948 | ) | $ | (9,352 | ) | $ | 16,002 |
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands)
|  | Three Months Ended December 31, 2014, as adjusted |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 952,109 |  | $ | 108,694 |  | $ | (16 | ) | $ | 1,060,787 |
Operating costs and other |  | 3,021 |  | 629,038 |  | 99,389 |  | (1,032 | ) | 730,416 |
Operating income (loss) from continuing operations |  | (3,021 | ) | 323,071 |  | 9,305 |  | 1,016 |  | 330,371 |
Other income |  | 1 |  | 921 |  | 703 |  | (1,016 | ) | 609 |
Interest expense |  | (7 | ) | 18 |  | (601 | ) | — |  | (590 | )
Equity in net income of subsidiaries |  | 205,359 |  | 6,718 |  | — |  | (212,077 | ) | — |
Income from continuing operations before income taxes |  | 202,332 |  | 330,728 |  | 9,407 |  | (212,077 | ) | 330,390 |
Income tax provision |  | (1,276 | ) | 126,122 |  | 1,921 |  | — |  | 126,767 |
Income from continuing operations |  | 203,608 |  | 204,606 |  | 7,486 |  | (212,077 | ) | 203,623 |
Loss from discontinued operations before income taxes |  | — |  | — |  | (15 | ) | — |  | (15 | )
Income tax provision |  | — |  | — |  | — |  | — |  | — |
Loss from discontinued operations |  | — |  | — |  | (15 | ) | — |  | (15 | )
Net income |  | $ | 203,608 |  | $ | 204,606 |  | $ | 7,471 |  | $ | (212,077 | ) | $ | 203,608 |
Schedule of Consolidated Condensed Statements of Comprehensive Income | CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands)
|  | Three Months Ended December 31, 2015 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net income (loss) |  | $ | 16,002 |  | $ | 17,300 |  | $ | (7,948 | ) | $ | (9,352 | ) | $ | 16,002 |
Other comprehensive income (loss), net of income taxes: |  |  |  |  |  |  |  |  |  |  |
Unrealized depreciation on securities, net |  | — |  | (11,010 | ) | — |  | — |  | (11,010 | )
Minimum pension liability adjustments, net |  | 107 |  | 206 |  | — |  | — |  | 313 |
Other comprehensive income (loss) |  | 107 |  | (10,804 | ) | — |  | — |  | (10,697 | )
Comprehensive income (loss) |  | $ | 16,109 |  | $ | 6,496 |  | $ | (7,948 | ) | $ | (9,352 | ) | $ | 5,305 |
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands)
|  | Three Months Ended December 31, 2014, as adjusted |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net income |  | $ | 203,608 |  | $ | 204,606 |  | $ | 7,471 |  | $ | (212,077 | ) | $ | 203,608 |
Other comprehensive income (loss), net of income taxes: |  |  |  |  |  |  |  |  |  |  |
Unrealized depreciation on securities, net |  | — |  | (42,244 | ) | — |  | — |  | (42,244 | )
Minimum pension liability adjustments, net |  | 82 |  | 114 |  | — |  | — |  | 196 |
Other comprehensive income (loss) |  | 82 |  | (42,130 | ) | — |  | — |  | (42,048 | )
Comprehensive income |  | $ | 203,690 |  | $ | 162,476 |  | $ | 7,471 |  | $ | (212,077 | ) | $ | 161,560 |
Schedule of Consolidated Condensed Balance Sheets | CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands)
|  | December 31, 2015 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | (705 | ) | $ | 816,342 |  | $ | 32,593 |  | $ | — |  | $ | 848,230 |
Short-term investments |  | — |  | 47,708 |  | — |  | — |  | 47,708 |
Accounts receivable, net of reserve |  | (8 | ) | 309,127 |  | 64,782 |  | (5 | ) | 373,896 |
Inventories |  | — |  | 86,889 |  | 40,353 |  | — |  | 127,242 |
Prepaid expenses and other |  | 26,550 |  | 7,133 |  | 43,825 |  | (6,357 | ) | 71,151 |
Current assets of discontinued operations |  | — |  | — |  | 8,449 |  | — |  | 8,449 |
Total current assets |  | 25,837 |  | 1,267,199 |  | 190,002 |  | (6,362 | ) | 1,476,676 |
Investments |  | 11,748 |  | 73,528 |  | — |  | — |  | 85,276 |
Property, plant and equipment, net |  | 62,282 |  | 5,038,560 |  | 429,975 |  | — |  | 5,530,817 |
Intercompany |  | 15,821 |  | 1,233,222 |  | 253,557 |  | (1,502,600 | ) | — |
Other assets |  | 10,304 |  | 1,023 |  | 36,248 |  | (10,070 | ) | 37,505 |
Investment in subsidiaries |  | 5,631,533 |  | 219,311 |  | — |  | (5,850,844 | ) | — |
Total assets |  | $ | 5,757,525 |  | $ | 7,832,843 |  | $ | 909,782 |  | $ | (7,369,876 | ) | $ | 7,130,274 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt due within one year |  | $ | — |  | $ | 39,092 |  | $ | — |  | $ | — |  | $ | 39,092 |
Accounts payable |  | 79,879 |  | 10,922 |  | 5,646 |  | (5 | ) | 96,442 |
Accrued liabilities |  | 11,610 |  | 218,527 |  | 46,166 |  | (6,357 | ) | 269,946 |
Current liabilities of discontinued operations |  | — |  | — |  | 3,310 |  | — |  | 3,310 |
Total current liabilities |  | 91,489 |  | 268,541 |  | 55,122 |  | (6,362 | ) | 408,790 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 492,668 |  | — |  | — |  | 492,668 |
Deferred income taxes |  | — |  | 1,268,943 |  | 36,728 |  | (10,070 | ) | 1,295,601 |
Intercompany |  | 818,406 |  | 164,173 |  | 520,021 |  | (1,502,600 | ) | — |
Other |  | 17,337 |  | 24,425 |  | 56,021 |  | — |  | 97,783 |
Noncurrent liabilities of discontinued operations |  | — |  | — |  | 5,139 |  | — |  | 5,139 |
Total noncurrent liabilities |  | 835,743 |  | 1,950,209 |  | 617,909 |  | (1,512,670 | ) | 1,891,191 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock |  | 11,130 |  | 100 |  | — |  | (100 | ) | 11,130 |
Additional paid-in capital |  | 427,590 |  | 46,856 |  | 374 |  | (47,230 | ) | 427,590 |
Retained earnings |  | 4,589,597 |  | 5,574,085 |  | 236,377 |  | (5,810,462 | ) | 4,589,597 |
Accumulated other comprehensive loss |  | (12,074 | ) | (6,948 | ) | — |  | 6,948 |  | (12,074 | )
Treasury stock, at cost |  | (185,950 | ) | — |  | — |  | — |  | (185,950 | )
Total shareholders’ equity |  | 4,830,293 |  | 5,614,093 |  | 236,751 |  | (5,850,844 | ) | 4,830,293 |
Total liabilities and shareholders’ equity |  | $ | 5,757,525 |  | $ | 7,832,843 |  | $ | 909,782 |  | $ | (7,369,876 | ) | $ | 7,130,274 |
CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands)
|  | September 30, 2015, as adjusted |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | (838 | ) | $ | 693,273 |  | $ | 36,949 |  | $ | — |  | $ | 729,384 |
Short-term investments |  | — |  | 45,543 |  | — |  | — |  | 45,543 |
Accounts receivable, net of reserve |  | 152 |  | 374,383 |  | 71,418 |  | (5 | ) | 445,948 |
Inventories |  | — |  | 88,010 |  | 40,531 |  | — |  | 128,541 |
Deferred income taxes |  | 2,834 |  | 19,277 |  | — |  | (4,905 | ) | 17,206 |
Prepaid expenses and other |  | 20,018 |  | 6,713 |  | 45,647 |  | (7,903 | ) | 64,475 |
Current assets of discontinued operations |  | — |  | — |  | 8,097 |  | — |  | 8,097 |
Total current assets |  | 22,166 |  | 1,227,199 |  | 202,642 |  | (12,813 | ) | 1,439,194 |
Investments |  | 12,871 |  | 91,483 |  | — |  | — |  | 104,354 |
Property, plant and equipment, net |  | 55,902 |  | 5,063,705 |  | 443,563 |  | — |  | 5,563,170 |
Intercompany |  | 15,875 |  | 1,192,634 |  | 230,652 |  | (1,439,161 | ) | — |
Other assets |  | 8,387 |  | 1,389 |  | 38,901 |  | (8,153 | ) | 40,524 |
Investment in subsidiaries |  | 5,623,754 |  | 227,587 |  | — |  | (5,851,341 | ) | — |
Total assets |  | $ | 5,738,955 |  | $ | 7,803,997 |  | $ | 915,758 |  | $ | (7,311,468 | ) | $ | 7,147,242 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt due within one year |  | $ | — |  | $ | 39,094 |  | $ | — |  | $ | — |  | $ | 39,094 |
Accounts payable |  | 80,673 |  | 20,404 |  | 7,097 |  | (5 | ) | 108,169 |
Accrued liabilities |  | 10,688 |  | 151,721 |  | 46,251 |  | (11,103 | ) | 197,557 |
Current liabilities of discontinued operations |  | — |  | — |  | 3,377 |  | — |  | 3,377 |
Total current liabilities |  | 91,361 |  | 211,219 |  | 56,725 |  | (11,108 | ) | 348,197 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 492,443 |  | — |  | — |  | 492,443 |
Deferred income taxes |  | — |  | 1,275,428 |  | 33,546 |  | (13,058 | ) | 1,295,916 |
Intercompany |  | 733,008 |  | 186,784 |  | 516,169 |  | (1,435,961 | ) | — |
Other |  | 18,740 |  | 31,560 |  | 59,820 |  | — |  | 110,120 |
Noncurrent liabilities of discontinued operations |  | — |  | — |  | 4,720 |  | — |  | 4,720 |
Total noncurrent liabilities |  | 751,748 |  | 1,986,215 |  | 614,255 |  | (1,449,019 | ) | 1,903,199 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock |  | 11,099 |  | 100 |  | — |  | (100 | ) | 11,099 |
Additional paid-in capital |  | 420,141 |  | 45,824 |  | 349 |  | (46,173 | ) | 420,141 |
Retained earnings |  | 4,648,346 |  | 5,556,783 |  | 244,429 |  | (5,801,212 | ) | 4,648,346 |
Accumulated other comprehensive income (loss) |  | (1,377 | ) | 3,856 |  | — |  | (3,856 | ) | (1,377 | )
Treasury stock, at cost |  | (182,363 | ) | — |  | — |  | — |  | (182,363 | )
Total shareholders’ equity |  | 4,895,846 |  | 5,606,563 |  | 244,778 |  | (5,851,341 | ) | 4,895,846 |
Total liabilities and shareholders’ equity |  | $ | 5,738,955 |  | $ | 7,803,997 |  | $ | 915,758 |  | $ | (7,311,468 | ) | $ | 7,147,242 |
Schedule of Consolidated Condensed Statements of Cash Flows | CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands)
|  | Three Months Ended December 31, 2015 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | 4,381 |  | $ | 307,138 |  | $ | (3,323 | ) | $ | — |  | $ | 308,196 |
INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (9,085 | ) | (103,510 | ) | (1,875 | ) | — |  | (114,470 | )
Intercompany transfers |  | 9,085 |  | (9,085 | ) | — |  | — |  | — |
Purchase of short-term investments |  | — |  | (6,918 | ) | — |  | — |  | (6,918 | )
Proceeds from sale of short-term investments |  | — |  | 4,600 |  | — |  | — |  | 4,600 |
Proceeds from asset sales |  | — |  | 5,241 |  | 817 |  | — |  | 6,058 |
Net cash used in investing activities |  | — |  | (109,672 | ) | (1,058 | ) | — |  | (110,730 | )
FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Dividends paid |  | (74,560 | ) | — |  | — |  | — |  | (74,560 | )
Intercompany transfers |  | 74,560 |  | (74,560 | ) | — |  | — |  | — |
Debt issuance costs |  | — |  | (32 | ) | — |  | — |  | (32 | )
Exercise of stock options, net of tax withholding |  | (59 | ) | — |  | — |  | — |  | (59 | )
Tax withholdings related to net share settlements of restricted stock |  | (3,617 | ) | — |  | — |  | — |  | (3,617 | )
Excess tax benefit from stock-based compensation |  | (572 | ) | 195 |  | 25 |  | — |  | (352 | )
Net cash provided by (used in) financing activities |  | (4,248 | ) | (74,397 | ) | 25 |  | — |  | (78,620 | )
Net increase (decrease) in cash and cash equivalents |  | 133 |  | 123,069 |  | (4,356 | ) | — |  | 118,846 |
Cash and cash equivalents, beginning of period |  | (838 | ) | 693,273 |  | 36,949 |  | — |  | 729,384 |
Cash and cash equivalents, end of period |  | $ | (705 | ) | $ | 816,342 |  | $ | 32,593 |  | $ | — |  | $ | 848,230 |
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands)
|  | Three Months Ended December 31, 2014, as adjusted |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net cash provided by operating activities |  | $ | 8,699 |  | $ | 367,674 |  | $ | 16,936 |  | $ | — |  | $ | 393,309 |
INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (3,491 | ) | (341,499 | ) | (24,991 | ) | — |  | (369,981 | )
Intercompany transfers |  | 3,491 |  | (3,491 | ) | — |  | — |  | — |
Proceeds from asset sales |  | — |  | 6,285 |  | 875 |  | — |  | 7,160 |
Net cash used in investing activities |  | — |  | (338,705 | ) | (24,116 | ) | — |  | (362,821 | )
FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Dividends paid |  | (74,822 | ) | — |  | — |  | — |  | (74,822 | )
Repurchase of common stock |  | (59,654 | ) | — |  | — |  | — |  | (59,654 | )
Intercompany transfers |  | 134,476 |  | (134,476 | ) | — |  | — |  | — |
Exercise of stock options, net of tax withholding |  | (2,062 | ) | — |  | — |  | — |  | (2,062 | )
Tax withholdings related to net share settlements of restricted stock |  | (4,248 | ) | — |  | — |  | — |  | (4,248 | )
Excess tax benefit from stock-based compensation |  | 33 |  | 2,667 |  | 23 |  | — |  | 2,723 |
Net cash provided by (used in) financing activities |  | (6,277 | ) | (131,809 | ) | 23 |  | — |  | (138,063 | )
Net increase (decrease) in cash and cash equivalents |  | 2,422 |  | (102,840 | ) | (7,157 | ) | — |  | (107,575 | )
Cash and cash equivalents, beginning of period |  | (2,050 | ) | 329,655 |  | 32,702 |  | — |  | 360,307 |
Cash and cash equivalents, end of period |  | $ | 372 |  | $ | 226,815 |  | $ | 25,545 |  | $ | — |  | $ | 252,732 |

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