Guarantor and Non-Guarantor Financial Information (Tables)

3 Months Ended

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