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Guarantor and Non-Guarantor Financial Information (Tables) | 3 Months Ended
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Dec. 31, 2016
Guarantor and Non-Guarantor Financial Information |
Schedule of Consolidated Condensed Statements of Operations | CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (in thousands)
|  | Three Months Ended December 31, 2016 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 297,448 |  | $ | 71,159 |  | $ | (17 | ) | $ | 368,590 |
Operating costs and other |  | 3,460 |  | 339,502 |  | 75,023 |  | (231 | ) | 417,754 |
Operating income (loss) from continuing operations |  | (3,460 | ) | (42,054 | ) | (3,864 | ) | 214 |  | (49,164 | )
Other income, net |  | — |  | 1,019 |  | 572 |  | (214 | ) | 1,377 |
Interest expense |  | (86 | ) | (4,709 | ) | (260 | ) | — |  | (5,055 | )
Equity in net income (loss) of subsidiaries |  | (32,992 | ) | 329 |  | — |  | 32,663 |  | — |
Income (loss) from continuing operations before income taxes |  | (36,538 | ) | (45,415 | ) | (3,552 | ) | 32,663 |  | (52,842 | )
Income tax provision |  | (1,475 | ) | (12,550 | ) | (4,263 | ) | — |  | (18,288 | )
Income (loss) from continuing operations |  | (35,063 | ) | (32,865 | ) | 711 |  | 32,663 |  | (34,554 | )
Income (loss) from discontinued operations before income taxes |  | — |  | — |  | (424 | ) | — |  | (424 | )
Income tax provision |  | — |  | — |  | 85 |  | — |  | 85 |
Loss from discontinued operations |  | — |  | — |  | (509 | ) | — |  | (509 | )
Net income (loss) |  | $ | (35,063 | ) | $ | (32,865 | ) | $ | 202 |  | $ | 32,663 |  | $ | (35,063 | )
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, net |  | 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 |
Schedule of Consolidated Condensed Statements of Comprehensive Income | CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands)
|  | Three Months Ended December 31, 2016 |
|  | Guarantor/ |  | Issuer |  | Non- Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net income (loss) |  | $ | (35,063 | ) | $ | (32,865 | ) | $ | 202 |  | $ | 32,663 |  | $ | (35,063 | )
Other comprehensive income (loss), net of income taxes: |  |  |  |  |  |  |  |  |  |  |
Unrealized (appreciation) depreciation on securities, net |  | — |  | 12,412 |  | — |  | — |  | 12,412 |
Minimum pension liability adjustments, net |  | 106 |  | 260 |  | — |  | — |  | 366 |
Other comprehensive income (loss) |  | 106 |  | 12,672 |  | — |  | — |  | 12,778 |
Comprehensive income (loss) |  | $ | (34,957 | ) | $ | (20,193 | ) | $ | 202 |  | $ | 32,663 |  | $ | (22,285 | )
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 |
Schedule of Consolidated Condensed Balance Sheets | CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands)
|  | December 31, 2016 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 8,722 |  | $ | 811,046 |  | $ | 6,125 |  | $ | — |  | $ | 825,893 |
Short-term investments |  | — |  | 45,263 |  | — |  | — |  | 45,263 |
Accounts receivable, net of reserve |  | 3,392 |  | 285,285 |  | 39,373 |  | (1,279 | ) | 326,771 |
Inventories |  | — |  | 90,061 |  | 36,021 |  | — |  | 126,082 |
Prepaid expenses and other |  | 12,019 |  | 10,422 |  | 53,770 |  | (285 | ) | 75,926 |
Assets held for sale |  | — |  | 18,452 |  | 26,845 |  | — |  | 45,297 |
Current assets of discontinued operations |  | — |  | — |  | 51 |  | — |  | 51 |
Total current assets |  | 24,133 |  | 1,260,529 |  | 162,185 |  | (1,564 | ) | 1,445,283 |
Investments |  | 13,411 |  | 91,766 |  | — |  | — |  | 105,177 |
Property, plant and equipment, net |  | 56,028 |  | 4,691,273 |  | 355,378 |  | — |  | 5,102,679 |
Intercompany |  | 16,161 |  | 1,495,780 |  | 260,554 |  | (1,772,495 | ) | — |
Other assets |  | 234 |  | 6,814 |  | 17,450 |  | — |  | 24,498 |
Investment in subsidiaries |  | 5,563,500 |  | 208,864 |  | — |  | (5,772,364 | ) | — |
Total assets |  | $ | 5,673,467 |  | $ | 7,755,026 |  | $ | 795,567 |  | $ | (7,546,423 | ) | $ | 6,677,637 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 79,896 |  | $ | 26,861 |  | $ | 6,155 |  | $ | (1,274 | ) | $ | 111,638 |
Accrued liabilities |  | 19,660 |  | 126,784 |  | 28,767 |  | (291 | ) | 174,920 |
Current liabilities of discontinued operations |  | — |  | — |  | 70 |  | — |  | 70 |
Total current liabilities |  | 99,556 |  | 153,645 |  | 34,992 |  | (1,565 | ) | 286,628 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 492,110 |  | — |  | — |  | 492,110 |
Deferred income taxes |  | (4,081 | ) | 1,308,141 |  | 28,209 |  | — |  | 1,332,269 |
Intercompany |  | 1,081,580 |  | 215,050 |  | 475,765 |  | (1,772,395 | ) | — |
Other |  | 20,497 |  | 39,335 |  | 26,527 |  | — |  | 86,359 |
Noncurrent liabilities of discontinued operations |  | — |  | — |  | 4,356 |  | — |  | 4,356 |
Total noncurrent liabilities |  | 1,097,996 |  | 2,054,636 |  | 534,857 |  | (1,772,395 | ) | 1,915,094 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock |  | 11,188 |  | 100 |  | — |  | (100 | ) | 11,188 |
Additional paid-in capital |  | 463,859 |  | 51,638 |  | 954 |  | (52,592 | ) | 463,859 |
Retained earnings |  | 4,178,235 |  | 5,477,241 |  | 224,764 |  | (5,702,005 | ) | 4,178,235 |
Accumulated other comprehensive loss |  | 12,574 |  | 17,766 |  | — |  | (17,766 | ) | 12,574 |
Treasury stock, at cost |  | (189,941 | ) | — |  | — |  | — |  | (189,941 | )
Total shareholders’ equity |  | 4,475,915 |  | 5,546,745 |  | 225,718 |  | (5,772,463 | ) | 4,475,915 |
Total liabilities and shareholders’ equity |  | $ | 5,673,467 |  | $ | 7,755,026 |  | $ | 795,567 |  | $ | (7,546,423 | ) | $ | 6,677,637 |
CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands)
|  | September 30, 2016 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | (955 | ) | $ | 899,028 |  | $ | 7,488 |  | $ | — |  | $ | 905,561 |
Short-term investments |  | — |  | 44,148 |  | — |  | — |  | 44,148 |
Accounts receivable, net of reserve |  | 2 |  | 325,325 |  | 51,121 |  | (1,279 | ) | 375,169 |
Inventories |  | — |  | 87,946 |  | 36,379 |  | — |  | 124,325 |
Prepaid expenses and other |  | 6,928 |  | 20,625 |  | 71,753 |  | (21,239 | ) | 78,067 |
Assets held for sale |  | — |  | 18,471 |  | 26,881 |  | — |  | 45,352 |
Current assets of discontinued operations |  | — |  | — |  | 64 |  | — |  | 64 |
Total current assets |  | 5,975 |  | 1,395,543 |  | 193,686 |  | (22,518 | ) | 1,572,686 |
Investments |  | 13,431 |  | 71,524 |  | — |  | — |  | 84,955 |
Property, plant and equipment, net |  | 59,173 |  | 4,716,736 |  | 368,824 |  | — |  | 5,144,733 |
Intercompany |  | 16,147 |  | 1,399,323 |  | 260,939 |  | (1,676,409 | ) | — |
Other assets |  | 233 |  | 267 |  | 29,145 |  | — |  | 29,645 |
Investment in subsidiaries |  | 5,579,713 |  | 208,118 |  | — |  | (5,787,831 | ) | — |
Total assets |  | $ | 5,674,672 |  | $ | 7,791,511 |  | $ | 852,594 |  | $ | (7,486,758 | ) | $ | 6,832,019 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 80,000 |  | $ | 10,868 |  | $ | 5,828 |  | $ | (1,274 | ) | $ | 95,422 |
Accrued liabilities |  | 1,822 |  | 176,985 |  | 35,598 |  | 20,234 |  | 234,639 |
Current liabilities of discontinued operations |  | — |  | — |  | 59 |  | — |  | 59 |
Total current liabilities |  | 81,822 |  | 187,853 |  | 41,485 |  | 18,960 |  | 330,120 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 491,847 |  | — |  | — |  | 491,847 |
Deferred income taxes |  | (5,930 | ) | 1,303,324 |  | 45,062 |  | — |  | 1,342,456 |
Intercompany |  | 1,016,673 |  | 209,276 |  | 491,838 |  | (1,717,787 | ) | — |
Other |  | 21,182 |  | 36,379 |  | 45,220 |  | — |  | 102,781 |
Noncurrent liabilities of discontinued operations |  | — |  | — |  | 3,890 |  | — |  | 3,890 |
Total noncurrent liabilities |  | 1,031,925 |  | 2,040,826 |  | 586,010 |  | (1,717,787 | ) | 1,940,974 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |
Common stock |  | 11,140 |  | 100 |  | — |  | (100 | ) | 11,140 |
Additional paid-in capital |  | 448,452 |  | 47,533 |  | 549 |  | (48,082 | ) | 448,452 |
Retained earnings |  | 4,289,807 |  | 5,510,105 |  | 224,550 |  | (5,734,655 | ) | 4,289,807 |
Accumulated other comprehensive income (loss) |  | (204 | ) | 5,094 |  | — |  | (5,094 | ) | (204 | )
Treasury stock, at cost |  | (188,270 | ) | — |  | — |  | — |  | (188,270 | )
Total shareholders’ equity |  | 4,560,925 |  | 5,562,832 |  | 225,099 |  | (5,787,931 | ) | 4,560,925 |
Total liabilities and shareholders’ equity |  | $ | 5,674,672 |  | $ | 7,791,511 |  | $ | 852,594 |  | $ | (7,486,758 | ) | $ | 6,832,019 |
Schedule of Consolidated Condensed Statements of Cash Flows | CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands)
|  | Three Months Ended December 31, 2016 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | 5,900 |  | $ | 65,679 |  | $ | (911 | ) | $ | — |  | $ | 70,668 |
INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | (607 | ) | (80,556 | ) | (964 | ) | — |  | (82,127 | )
Purchase of short-term investments |  | — |  | (15,025 | ) | — |  | — |  | (15,025 | )
Proceeds from sales of short-term investments |  | — |  | 13,900 |  | — |  | — |  | 13,900 |
Intercompany transfers |  | 607 |  | (607 | ) | — |  | — |  | — |
Proceeds from asset sales |  | — |  | 1,102 |  | 107 |  | — |  | 1,209 |
Net cash used in investing activities |  | — |  | (81,186 | ) | (857 | ) | — |  | (82,043 | )
FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |
Intercompany transfers |  | 76,176 |  | (76,176 | ) | — |  | — |  | — |
Dividends paid |  | (76,176 | ) | — |  | — |  | — |  | (76,176 | )
Exercise of stock options, net of tax withholding |  | 9,827 |  | — |  | — |  | — |  | 9,827 |
Tax withholdings related to net share settlements of restricted stock |  | (5,647 | ) | — |  | — |  | — |  | (5,647 | )
Excess tax benefit from stock-based compensation |  | (403 | ) | 3,701 |  | 405 |  | — |  | 3,703 |
Net cash provided by (used in) financing activities |  | 3,777 |  | (72,475 | ) | 405 |  | — |  | (68,293 | )
Net increase (decrease) in cash and cash equivalents |  | 9,677 |  | (87,982 | ) | (1,363 | ) | — |  | (79,668 | )
Cash and cash equivalents, beginning of period |  | (955 | ) | 899,028 |  | 7,488 |  | — |  | 905,561 |
Cash and cash equivalents, end of period |  | $ | 8,722 |  | $ | 811,046 |  | $ | 6,125 |  | $ | — |  | $ | 825,893 |
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 sales 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 |

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