Guarantor and Non-Guarantor Financial Information (Tables)

9 Months Ended

Jun. 30, 2016

Guarantor and Non-Guarantor Financial Information

Schedule of Consolidated Condensed Statements of Operations

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(in thousands)


	Three Months Ended June 30, 2016
	Guarantor/			Issuer			Non-Guarantor						Total
	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated

Operating revenue	$	—		$	315,077		$	51,429		$	(20	)	$	366,486
Operating costs and other	3,712			314,620			61,700			(290		)	379,742

Operating income (loss) from continuing operations	(3,712		)	457			(10,271		)	270			(13,256		)

Other income, net	16			1,290			276			(270		)	1,312
Interest expense	(62		)	(5,597		)	(748		)	—			(6,407		)
Equity in net loss of subsidiaries	(18,572		)	(7,796		)	—			26,368			—

Loss from continuing operations before income taxes	(22,330		)	(11,646		)	(10,743		)	26,368			(18,351		)
Income tax provision	(1,130		)	7,230			(3,258		)	—			2,842

Loss from continuing operations	(21,200		)	(18,876		)	(7,485		)	26,368			(21,193		)

Income from discontinued operations before income taxes	—			—			2,193			—			2,193
Income tax provision	—			—			2,200			—			2,200

Loss from discontinued operations	—			—			(7		)	—			(7		)


Net loss	$	(21,200	)	$	(18,876	)	$	(7,492	)	$	26,368		$	(21,200	)

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(in thousands)


	Three Months Ended June 30, 2015, as adjusted
	Guarantor/			Issuer			Non-Guarantor						Total
	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated

Operating revenue	$	—		$	543,834		$	117,629		$	(18	)	$	661,445
Operating costs and other	3,072			423,409			100,941			(1,026		)	526,396

Operating income (loss) from continuing operations	(3,072		)	120,425			16,688			1,008			135,049

Other income (expense), net	(103		)	1,565			852			(1,007		)	1,307
Interest expense	(40		)	(4,638		)	(1,458		)	—			(6,136		)
Equity in net income of subsidiaries	92,413			13,040			—			(105,453		)	—

Income from continuing operations before income taxes	89,198			130,392			16,082			(105,452		)	130,220
Income tax provision	(1,674		)	38,941			2,054			—			39,321

Income from continuing operations	90,872			91,451			14,028			(105,452		)	90,899

Loss from discontinued operations before income taxes	—			—			(27		)	—			(27		)
Income tax provision	—			—			—			—			—

Loss from discontinued operations	—			—			(27		)	—			(27		)


Net income	$	90,872		$	91,451		$	14,001		$	(105,452	)	$	90,872

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(in thousands)


	Nine Months Ended June 30, 2016
	Guarantor/			Issuer		Non-Guarantor						Total
	Parent			Subsidiary		Subsidiaries			Eliminations			Consolidated

Operating revenue	$	—		1,103,361		$	189,216		$	(53	)	$	1,292,524
Operating costs and other	9,573			1,003,369		213,640			(1,093		)	1,225,489

Operating income (loss) from continuing operations	(9,573		)	99,992		(24,424		)	1,040			67,035

Other income (expense), net	(235		)	2,680		1,831			(1,040		)	3,236
Interest expense	(186		)	(15,587	)	(879		)	—			(16,652		)
Equity in net income (loss) of subsidiaries	22,042			(23,811	)	—			1,769			—

Income (loss) from continuing operations before income taxes	12,048			63,274		(23,472		)	1,769			53,619
Income tax provision	(3,959		)	42,114		(4,415		)	—			33,740

Income (loss) from continuing operations	16,007			21,160		(19,057		)	1,769			19,879

Income from discontinued operations before income taxes	—			—		2,241			—			2,241
Income tax provision	—			—		6,113			—			6,113

Loss from discontinued operations	—			—		(3,872		)	—			(3,872		)


Net income (loss)	$	16,007		21,160		$	(22,929	)	$	1,769		$	16,007

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

(in thousands)

	Nine Months Ended June 30, 2015, as adjusted
	Guarantor/			Issuer			Non-Guarantor						Total
	Parent			Subsidiary			Subsidiaries			Eliminations			Consolidated

Operating revenue	$	—		$	2,270,839		$	337,121		$	(58	)	$	2,607,902
Operating costs and other	9,152			1,600,530			304,566			(3,092		)	1,911,156

Operating income (loss) from continuing operations	(9,152		)	670,309			32,555			3,034			696,746

Other income (expense), net	(100		)	6,224			1,444			(3,033		)	4,535
Interest expense	(59		)	(4,741		)	(4,526		)	—			(9,326		)
Equity in net income of subsidiaries	453,478			23,131			—			(476,609		)	—

Income from continuing operations before income taxes	444,167			694,923			29,473			(476,608		)	691,955
Income tax provision	(3,856		)	243,986			3,761			—			243,891

Income from continuing operations	448,023			450,937			25,712			(476,608		)	448,064

Loss from discontinued operations before income taxes	—			—			(118		)	—			(118		)
Income tax provision	—			—			(77		)	—			(77		)

Loss from discontinued operations	—			—			(41		)	—			(41		)


Net income	$	448,023		$	450,937		$	25,671		$	(476,608	)	$	448,023

Schedule of Consolidated Condensed Statements of Comprehensive Income

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)


	Three Months Ended June 30, 2016
	Guarantor/			Issuer			Non-Guarantor					Total
	Parent			Subsidiary			Subsidiaries			Eliminations		Consolidated

Net loss	$	(21,200	)	$	(18,876	)	$	(7,492	)	$	26,368	$	(21,200	)
Other comprehensive income, net of income taxes:
Unrealized appreciation on securities, net	—			9,744			—			—		9,744
Minimum pension liability adjustments, net	107			207			—			—		314

Other comprehensive income	107			9,951			—			—		10,058

Comprehensive loss	$	(21,093	)	$	(8,925	)	$	(7,492	)	$	26,368	$	(11,142	)

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)


	Three Months Ended June 30, 2015, as adjusted
	Guarantor/		Issuer			Non-Guarantor					Total
	Parent		Subsidiary			Subsidiaries		Eliminations			Consolidated

Net income	$	90,872	$	91,451		$	14,001	$	(105,452	)	$	90,872
Other comprehensive income (loss), net of income taxes:
Unrealized depreciation on securities, net	—		(3,307		)	—		—			(3,307		)
Minimum pension liability adjustments, net	82		115			—		—			197

Other comprehensive income (loss)	82		(3,192		)	—		—			(3,110		)

Comprehensive income	$	90,954	$	88,259		$	14,001	$	(105,452	)	$	87,762

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)


	Nine Months Ended June 30, 2016
	Guarantor/		Issuer			Non-Guarantor					Total
	Parent		Subsidiary			Subsidiaries			Eliminations		Consolidated

Net income (loss)	$	16,007	21,160			$	(22,929	)	$	1,769	$	16,007
Other comprehensive income (loss), net of income taxes:
Unrealized depreciation on securities, net	—		(2,719		)	—			—		(2,719		)
Minimum pension liability adjustments, net	322		618			—			—		940

Other comprehensive income (loss)	322		(2,101		)	—			—		(1,779		)

Comprehensive income (loss)	$	16,329		19,059		$	(22,929	)	1,769		$	14,228

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

	Nine Months Ended June 30, 2015, as adjusted
	Guarantor/		Issuer			Non-Guarantor					Total
	Parent		Subsidiary			Subsidiaries		Eliminations			Consolidated

Net income	$	448,023	$	450,937		$	25,671	$	(476,608	)	$	448,023
Other comprehensive income (loss), net of income taxes:
Unrealized depreciation on securities, net	—		(46,754		)	—		—			(46,754		)
Minimum pension liability adjustments, net	246		344			—		—			590

Other comprehensive income (loss)	246		(46,410		)	—		—			(46,164		)

Comprehensive income	$	448,269	$	404,527		$	25,671	$	(476,608	)	$	401,859

Schedule of Consolidated Condensed Balance Sheets

CONSOLIDATED CONDENSED BALANCE SHEETS

(in thousands)


	June 30, 2016
	Guarantor/			Issuer		Non-Guarantor					Total
	Parent			Subsidiary		Subsidiaries		Eliminations			Consolidated

ASSETS
Current assets:
Cash and cash equivalents	$	(920	)	$	892,476	$	15,476	$	—		$	907,032
Short-term investments	—			49,565		—		—			49,565
Accounts receivable, net of reserve	39,698			269,495		42,995		(871		)	351,317
Inventories	—			88,438		40,447		—			128,885
Prepaid expenses and other	7,997			33,403		39,638		(2,017		)	79,021
Assets held for sale	—			21,772		—		—			21,772
Current assets of discontinued operations	—			—		80		—			80

Total current assets	46,775			1,355,149		138,636		(2,888		)	1,537,672

Investments	12,848			87,050		—		—			99,898
Property, plant and equipment, net	61,989			4,840,172		404,273		—			5,306,434
Intercompany	15,982			1,426,888		264,212		(1,707,082		)	—
Other assets	10,713			1,019		31,262		(10,479		)	32,515
Investment in subsidiaries	5,645,245			203,812		—		(5,849,057		)	—


Total assets	$	5,793,552		$	7,914,090	$	838,383	$	(7,569,506	)	$	6,976,519


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Long-term debt due within one year	$	—		$	39,234	$	—	$	—		$	39,234
Accounts payable	80,926			8,718		3,904		(856		)	92,692
Accrued liabilities	20,936			138,267		37,474		(2,032		)	194,645
Current liabilities of discontinued operations	—			—		38		—			38

Total current liabilities	101,862			186,219		41,416		(2,888		)	326,609

Noncurrent liabilities:
Long-term debt	—			493,150		—		—			493,150
Deferred income taxes	—			1,321,148		48,424		(11,479		)	1,358,093
Intercompany	971,750			257,947		476,285		(1,705,982		)	—
Other	18,478			28,455		46,288		—			93,221
Noncurrent liabilities of discontinued operations	—			—		3,984		—			3,984

Total noncurrent liabilities	990,228			2,100,700		574,981		(1,717,461		)	1,948,448

Shareholders’ equity:
Common stock	11,138			100		—		(100		)	11,138
Additional paid-in capital	442,883			47,372		547		(47,919		)	442,883
Retained earnings	4,438,748			5,577,943		221,439		(5,799,382		)	4,438,748
Accumulated other comprehensive loss	(3,156		)	1,756		—		(1,756		)	(3,156		)
Treasury stock, at cost	(188,151		)	—		—		—			(188,151		)

Total shareholders’ equity	4,701,462			5,627,171		221,986		(5,849,157		)	4,701,462

Total liabilities and shareholders’ equity	$	5,793,552		$	7,914,090	$	838,383	$	(7,569,506	)	$	6,976,519

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)


	Nine Months Ended June 30, 2016
	Guarantor/			Issuer			Non-Guarantor					Total
	Parent			Subsidiary			Subsidiaries			Eliminations		Consolidated

Net cash provided by (used in) operating activities	$	4,127		$	631,371		$	(20,088	)	$	—	$	615,410

INVESTING ACTIVITIES:
Capital expenditures	(15,515		)	(200,611		)	(3,423		)	—		(219,549		)
Intercompany transfers	15,515			(15,515		)	—			—		—
Purchase of short-term investments	—			(36,958		)	—			—		(36,958		)
Proceeds from sale of short-term investments	—			32,681			—			—		32,681
Proceeds from asset sales	8			10,956			1,840			—		12,804

Net cash provided by (used in) investing activities	8			(209,447		)	(1,583		)	—		(211,022		)

FINANCING ACTIVITIES:
Dividends paid	(224,040		)	—			—			—		(224,040		)
Intercompany transfers	224,040			(224,040		)	—			—		—
Debt issuance costs	—			(32		)	—			—		(32		)
Exercise of stock options, net of tax withholding	483			—			—			—		483
Tax withholdings related to net share settlements of restricted stock	(3,912		)	—			—			—		(3,912		)
Excess tax benefit from stock-based compensation	(788		)	1,351			198			—		761

Net cash provided by (used in) financing activities	(4,217		)	(222,721		)	198			—		(226,740		)

Net increase (decrease) in cash and cash equivalents	(82		)	199,203			(21,473		)	—		177,648
Cash and cash equivalents, beginning of period	(838		)	693,273			36,949			—		729,384

Cash and cash equivalents, end of period	$	(920	)	$	892,476		$	15,476		$	—	$	907,032

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(in thousands)

	Nine Months Ended June 30, 2015, as adjusted
	Guarantor/			Issuer			Non-Guarantor					Total
	Parent			Subsidiary			Subsidiaries			Eliminations		Consolidated

Net cash provided by operating activities	$	66,448		$	1,068,214		$	16,894		$	—	$	1,151,556

INVESTING ACTIVITIES:
Capital expenditures	(18,708		)	(911,844		)	(41,050		)	—		(971,602		)
Intercompany transfers	18,708			(18,708		)	—			—		—
Proceeds from asset sales	1			16,804			952			—		17,757

Net cash provided by (used in) Investing activities	1			(913,748		)	(40,098		)	—		(953,845		)

FINANCING ACTIVITIES:
Proceeds from senior notes, net of discount	—			497,125			—			—		497,125
Debt issuance costs	—			(5,202		)	—			—		(5,202		)
Proceeds on short-term debt	—			—			1,002			—		1,002
Payments on short-term debt	—			—			(1,002		)	—		(1,002		)
Net increase in bank overdraft	—			—			10,824			—		10,824
Dividends paid	(223,827		)	—			—			—		(223,827		)
Intercompany transfers	223,827			(223,827		)	—			—		—
Repurchase of common stock	(59,654		)	—			—			—		(59,654		)
Exercise of stock options, net of tax withholding	(609		)	—			—			—		(609		)
Tax withholdings related to net share settlements of restricted stock	(5,104		)	—			—			—		(5,104		)
Excess tax benefit from stock-based compensation	91			2,853			25			—		2,969

Net cash provided by (used in) financing activities	(65,276		)	270,949			10,849			—		216,522

Net increase (decrease) in cash and cash equivalents	1,173			425,415			(12,355		)	—		414,233
Cash and cash equivalents, beginning of period	(2,050		)	329,655			32,702			—		360,307

Cash and cash equivalents, end of period	$	(877	)	$	755,070		$	20,347		$	—	$	774,540