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Guarantor and Non-Guarantor Financial Information (Tables) | 6 Months Ended
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Mar. 31, 2018
Guarantor and Non-Guarantor Financial Information |
Schedule of Consolidated Condensed Statements of Operations | CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (in thousands)
|  | Three Months Ended March 31, 2018 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 515,712 |  | $ | 61,793 |  | $ | (21) |  | $ | 577,484 |
Operating costs and other |  |  | 4,209 |  |  | 503,173 |  |  | 71,601 |  |  | (246) |  |  | 578,737 |
Operating income (loss) from continuing operations |  |  | (4,209) |  |  | 12,539 |  |  | (9,808) |  |  | 225 |  |  | (1,253) |
Other income, net |  |  | 19 |  |  | 1,732 |  |  | 200 |  |  | (225) |  |  | 1,726 |
Interest expense |  |  | (138) |  |  | (4,551) |  |  | (1,339) |  |  | — |  |  | (6,028) |
Equity in net income of subsidiaries |  |  | (7,963) |  |  | (16,081) |  |  | — |  |  | 24,044 |  |  | — |
Loss from continuing operations before income taxes |  |  | (12,291) |  |  | (6,361) |  |  | (10,947) |  |  | 24,044 |  |  | (5,555) |
Income tax expense (benefit) |  |  | (411) |  |  | 1,639 |  |  | (5,150) |  |  | — |  |  | (3,922) |
Loss from continuing operations |  |  | (11,880) |  |  | (8,000) |  |  | (5,797) |  |  | 24,044 |  |  | (1,633) |
Income from discontinued operations before income taxes |  |  | — |  |  | — |  |  | 1,263 |  |  | — |  |  | 1,263 |
Income tax provision |  |  | — |  |  | — |  |  | 11,509 |  |  | — |  |  | 11,509 |
Loss from discontinued operations |  |  | — |  |  | — |  |  | (10,246) |  |  | — |  |  | (10,246) |
Net loss |  | $ | (11,880) |  | $ | (8,000) |  | $ | (16,043) |  | $ | 24,044 |  | $ | (11,879) |
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (in thousands)
|  | Three Months Ended March 31, 2017 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 367,202 |  | $ | 38,097 |  | $ | (16) |  | $ | 405,283 |
Operating costs and expenses |  |  | 3,300 |  |  | 415,544 |  |  | 52,341 |  |  | (230) |  |  | 470,955 |
Operating loss from continuing operations |  |  | (3,300) |  |  | (48,342) |  |  | (14,244) |  |  | 214 |  |  | (65,672) |
Other income (expense), net |  |  | 1 |  |  | 1,814 |  |  | (89) |  |  | (214) |  |  | 1,512 |
Interest expense |  |  | (87) |  |  | (5,148) |  |  | (849) |  |  | — |  |  | (6,084) |
Equity in net loss of subsidiaries |  |  | (46,677) |  |  | (11,118) |  |  | — |  |  | 57,795 |  |  | — |
Loss from continuing operations before income taxes |  |  | (50,063) |  |  | (62,794) |  |  | (15,182) |  |  | 57,795 |  |  | (70,244) |
Income tax benefit |  |  | (1,245) |  |  | (17,410) |  |  | (3,116) |  |  | — |  |  | (21,771) |
Loss from continuing operations |  |  | (48,818) |  |  | (45,384) |  |  | (12,066) |  |  | 57,795 |  |  | (48,473) |
Loss from discontinued operations before income taxes |  |  | — |  |  | — |  |  | (94) |  |  | — |  |  | (94) |
Income tax provision |  |  | — |  |  | — |  |  | 251 |  |  | — |  |  | 251 |
Loss from discontinued operations |  |  | — |  |  | — |  |  | (345) |  |  | — |  |  | (345) |
Net loss |  | $ | (48,818) |  | $ | (45,384) |  | $ | (12,411) |  | $ | 57,795 |  | $ | (48,818) |
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (in thousands)
|  | Six Months Ended March 31, 2018 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 1,010,718 |  | $ | 130,890 |  | $ | (37) |  | $ | 1,141,571 |
Operating costs and other |  |  | 8,387 |  |  | 984,821 |  |  | 146,547 |  |  | (451) |  |  | 1,139,304 |
Operating income (loss) from continuing operations |  |  | (8,387) |  |  | 25,897 |  |  | (15,657) |  |  | 414 |  |  | 2,267 |
Other income, net |  |  | 280 |  |  | 3,373 |  |  | 741 |  |  | (414) |  |  | 3,980 |
Interest expense |  |  | (166) |  |  | (10,251) |  |  | (1,384) |  |  | — |  |  | (11,801) |
Equity in net income of subsidiaries |  |  | 499,457 |  |  | 5,284 |  |  | — |  |  | (504,741) |  |  | — |
Income (loss) from continuing operations before income taxes |  |  | 491,184 |  |  | 24,303 |  |  | (16,300) |  |  | (504,741) |  |  | (5,554) |
Income tax expense (benefit) |  |  | 2,958 |  |  | (476,955) |  |  | (30,566) |  |  | — |  |  | (504,563) |
Income from continuing operations |  |  | 488,226 |  |  | 501,258 |  |  | 14,266 |  |  | (504,741) |  |  | 499,009 |
Income from discontinued operations before income taxes |  |  | — |  |  | — |  |  | 744 |  |  | — |  |  | 744 |
Income tax provision |  |  | — |  |  | — |  |  | 11,526 |  |  | — |  |  | 11,526 |
Loss from discontinued operations |  |  | — |  |  | — |  |  | (10,782) |  |  | — |  |  | (10,782) |
Net income |  | $ | 488,226 |  | $ | 501,258 |  | $ | 3,484 |  | $ | (504,741) |  | $ | 488,227 |
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (in thousands)
|  | Six Months Ended March 31, 2017 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Operating revenue |  | $ | — |  | $ | 664,650 |  | $ | 109,256 |  | $ | (33) |  | $ | 773,873 |
Operating costs and other |  |  | 6,760 |  |  | 755,046 |  |  | 127,364 |  |  | (461) |  |  | 888,709 |
Operating loss from continuing operations |  |  | (6,760) |  |  | (90,396) |  |  | (18,108) |  |  | 428 |  |  | (114,836) |
Other income, net |  |  | 1 |  |  | 2,833 |  |  | 483 |  |  | (428) |  |  | 2,889 |
Interest expense |  |  | (173) |  |  | (9,857) |  |  | (1,109) |  |  | — |  |  | (11,139) |
Equity in net loss of subsidiaries |  |  | (79,669) |  |  | (10,789) |  |  | — |  |  | 90,458 |  |  | — |
Loss from continuing operations before income taxes |  |  | (86,601) |  |  | (108,209) |  |  | (18,734) |  |  | 90,458 |  |  | (123,086) |
Income tax provision |  |  | (2,720) |  |  | (29,960) |  |  | (7,379) |  |  | — |  |  | (40,059) |
Loss from continuing operations |  |  | (83,881) |  |  | (78,249) |  |  | (11,355) |  |  | 90,458 |  |  | (83,027) |
Loss from discontinued operations before income taxes |  |  | — |  |  | — |  |  | (518) |  |  | — |  |  | (518) |
Income tax provision |  |  | — |  |  | — |  |  | 336 |  |  | — |  |  | 336 |
Loss from discontinued operations |  |  | — |  |  | — |  |  | (854) |  |  | — |  |  | (854) |
Net loss |  | $ | (83,881) |  | $ | (78,249) |  | $ | (12,209) |  | $ | 90,458 |  | $ | (83,881) |
Schedule of Consolidated Condensed Statements of Comprehensive Income | CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands)
|  | Three Months Ended March 31, 2018 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net loss |  | $ | (11,880) |  | $ | (8,000) |  | $ | (16,043) |  | $ | 24,044 |  | $ | (11,879) |
Other comprehensive income (loss), net of income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized depreciation on securities, net |  |  | — |  |  | (7,568) |  |  | — |  |  | — |  |  | (7,568) |
Minimum pension liability adjustments, net |  |  | 92 |  |  | 216 |  |  | — |  |  | — |  |  | 308 |
Other comprehensive income (loss) |  |  | 92 |  |  | (7,352) |  |  | — |  |  | — |  |  | (7,260) |
Comprehensive loss |  | $ | (11,788) |  | $ | (15,352) |  | $ | (16,043) |  | $ | 24,044 |  | $ | (19,139) |
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands)
|  | Three Months Ended March 31, 2017 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net loss |  | $ | (48,818) |  | $ | (45,384) |  | $ | (12,411) |  | $ | 57,795 |  | $ | (48,818) |
Other comprehensive income (loss), net of income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized depreciation on securities, net |  |  | — |  |  | (10,507) |  |  | — |  |  | — |  |  | (10,507) |
Minimum pension liability adjustments, net |  |  | 106 |  |  | 260 |  |  | — |  |  | — |  |  | 366 |
Other comprehensive income (loss) |  |  | 106 |  |  | (10,247) |  |  | — |  |  | — |  |  | (10,141) |
Comprehensive loss |  | $ | (48,712) |  | $ | (55,631) |  | $ | (12,411) |  | $ | 57,795 |  | $ | (58,959) |
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (in thousands)
|  | Six Months Ended March 31, 2018 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net income |  | $ | 488,226 |  | $ | 501,258 |  | $ | 3,484 |  | $ | (504,741) |  | $ | 488,227 |
Other comprehensive income (loss), net of income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized depreciation on securities, net |  |  | — |  |  | (8,169) |  |  | — |  |  | — |  |  | (8,169) |
Minimum pension liability adjustments, net |  |  | 194 |  |  | 454 |  |  | — |  |  | — |  |  | 648 |
Other comprehensive income (loss) |  |  | 194 |  |  | (7,715) |  |  | — |  |  | — |  |  | (7,521) |
Comprehensive income |  | $ | 488,420 |  | $ | 493,543 |  | $ | 3,484 |  | $ | (504,741) |  | $ | 480,706 |
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (in thousands)
|  | Six Months Ended March 31, 2017 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net loss |  | $ | (83,881) |  | $ | (78,249) |  | $ | (12,209) |  | $ | 90,458 |  | $ | (83,881) |
Other comprehensive income, net of income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized appreciation on securities, net |  |  | — |  |  | 1,905 |  |  | — |  |  | — |  |  | 1,905 |
Minimum pension liability adjustments, net |  |  | 212 |  |  | 520 |  |  | — |  |  | — |  |  | 732 |
Other comprehensive income |  |  | 212 |  |  | 2,425 |  |  | — |  |  | — |  |  | 2,637 |
Comprehensive loss |  | $ | (83,669) |  | $ | (75,824) |  | $ | (12,209) |  | $ | 90,458 |  | $ | (81,244) |
Schedule of Consolidated Condensed Balance Sheets | CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands)
|  | March 31, 2018 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | (787) |  | $ | 324,530 |  | $ | 11,021 |  | $ | — |  | $ | 334,764 |
Short-term investments |  |  | — |  |  | 45,270 |  |  | — |  |  | — |  |  | 45,270 |
Accounts receivable, net of reserve |  |  | 794 |  |  | 465,049 |  |  | 79,581 |  |  | (76) |  |  | 545,348 |
Inventories |  |  | — |  |  | 109,527 |  |  | 33,650 |  |  | — |  |  | 143,177 |
Prepaid expenses and other |  |  | 22,718 |  |  | 4,484 |  |  | 35,285 |  |  | (63) |  |  | 62,424 |
Current assets of discontinued operations |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total current assets |  |  | 22,725 |  |  | 948,860 |  |  | 159,537 |  |  | (139) |  |  | 1,130,983 |
Investments |  |  | 14,976 |  |  | 58,380 |  |  | — |  |  | — |  |  | 73,356 |
Property, plant and equipment, net |  |  | 47,706 |  |  | 4,527,404 |  |  | 323,415 |  |  | — |  |  | 4,898,525 |
Intercompany |  |  | 147,333 |  |  | 2,000,285 |  |  | 247,981 |  |  | (2,395,599) |  |  | — |
Goodwill |  |  | — |  |  | — |  |  | 69,496 |  |  | — |  |  | 69,496 |
Intangible assets, net of amortization |  |  | — |  |  | — |  |  | 77,001 |  |  | — |  |  | 77,001 |
Other assets |  |  | 5,166 |  |  | 1,055 |  |  | 6,210 |  |  | — |  |  | 12,431 |
Investment in subsidiaries |  |  | 5,961,792 |  |  | 188,761 |  |  | — |  |  | (6,150,553) |  |  | — |
Total assets |  | $ | 6,199,698 |  | $ | 7,724,745 |  | $ | 883,640 |  | $ | (8,546,291) |  | $ | 6,261,792 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 80,251 |  | $ | 39,878 |  | $ | 2,951 |  | $ | (68) |  | $ | 123,012 |
Accrued liabilities |  |  | 30,356 |  |  | 172,718 |  |  | 14,092 |  |  | (71) |  |  | 217,095 |
Current liabilities of discontinued operations |  |  | — |  |  | — |  |  | 78 |  |  | — |  |  | 78 |
Total current liabilities |  |  | 110,607 |  |  | 212,596 |  |  | 17,121 |  |  | (139) |  |  | 340,185 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  |  | — |  |  | 493,433 |  |  | — |  |  | — |  |  | 493,433 |
Deferred income taxes |  |  | (7,011) |  |  | 774,914 |  |  | 48,766 |  |  | — |  |  | 816,669 |
Intercompany |  |  | 1,566,255 |  |  | 252,200 |  |  | 577,044 |  |  | (2,395,499) |  |  | — |
Other |  |  | 26,694 |  |  | 42,574 |  |  | 24,393 |  |  | — |  |  | 93,661 |
Noncurrent liabilities of discontinued operations |  |  | — |  |  | — |  |  | 14,691 |  |  | — |  |  | 14,691 |
Total noncurrent liabilities |  |  | 1,585,938 |  |  | 1,563,121 |  |  | 664,894 |  |  | (2,395,499) |  |  | 1,418,454 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 11,201 |  |  | 100 |  |  | — |  |  | (100) |  |  | 11,201 |
Additional paid-in capital |  |  | 487,135 |  |  | 52,436 |  |  | 1,040 |  |  | (53,476) |  |  | 487,135 |
Retained earnings |  |  | 4,189,497 |  |  | 5,897,470 |  |  | 200,585 |  |  | (6,098,055) |  |  | 4,189,497 |
Accumulated other comprehensive income |  |  | (5,221) |  |  | (978) |  |  | — |  |  | 978 |  |  | (5,221) |
Treasury stock, at cost |  |  | (179,459) |  |  | — |  |  | — |  |  | — |  |  | (179,459) |
Total shareholders’ equity |  |  | 4,503,153 |  |  | 5,949,028 |  |  | 201,625 |  |  | (6,150,653) |  |  | 4,503,153 |
Total liabilities and shareholders’ equity |  | $ | 6,199,698 |  | $ | 7,724,745 |  | $ | 883,640 |  | $ | (8,546,291) |  | $ | 6,261,792 |
CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands)
|  | September 30, 2017 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | (587) |  | $ | 508,091 |  | $ | 13,871 |  | $ | — |  | $ | 521,375 |
Short-term investments |  |  | — |  |  | 44,491 |  |  | — |  |  | — |  |  | 44,491 |
Accounts receivable, net of reserve |  |  | 766 |  |  | 411,599 |  |  | 64,714 |  |  | (5) |  |  | 477,074 |
Inventories |  |  | — |  |  | 102,470 |  |  | 34,734 |  |  | — |  |  | 137,204 |
Prepaid expenses and other |  |  | 12,200 |  |  | 6,383 |  |  | 36,979 |  |  | (442) |  |  | 55,120 |
Current assets of discontinued operations |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total current assets |  |  | 12,379 |  |  | 1,073,034 |  |  | 150,301 |  |  | (447) |  |  | 1,235,267 |
Investments |  |  | 13,853 |  |  | 70,173 |  |  | — |  |  | — |  |  | 84,026 |
Property, plant and equipment, net |  |  | 49,851 |  |  | 4,609,144 |  |  | 342,056 |  |  | — |  |  | 5,001,051 |
Intercompany |  |  | 90,885 |  |  | 1,746,662 |  |  | 248,540 |  |  | (2,086,087) |  |  | — |
Goodwill |  |  | — |  |  | — |  |  | 51,705 |  |  | — |  |  | 51,705 |
Intangible assets, net of amortization |  |  | — |  |  | — |  |  | 50,785 |  |  | — |  |  | 50,785 |
Other assets |  |  | 4,955 |  |  | 3,839 |  |  | 8,360 |  |  | — |  |  | 17,154 |
Investment in subsidiaries |  |  | 5,470,050 |  |  | 183,382 |  |  | — |  |  | (5,653,432) |  |  | — |
Total assets |  | $ | 5,641,973 |  | $ | 7,686,234 |  | $ | 851,747 |  | $ | (7,739,966) |  | $ | 6,439,988 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 82,360 |  | $ | 48,679 |  | $ | 4,589 |  | $ | — |  | $ | 135,628 |
Accrued liabilities |  |  | 26,698 |  |  | 148,491 |  |  | 33,941 |  |  | (447) |  |  | 208,683 |
Current liabilities of discontinued operations |  |  | — |  |  | — |  |  | 74 |  |  | — |  |  | 74 |
Total current liabilities |  |  | 109,058 |  |  | 197,170 |  |  | 38,604 |  |  | (447) |  |  | 344,385 |
Noncurrent liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  |  | — |  |  | 492,902 |  |  | — |  |  | — |  |  | 492,902 |
Deferred income taxes |  |  | (11,201) |  |  | 1,286,381 |  |  | 57,509 |  |  | — |  |  | 1,332,689 |
Intercompany |  |  | 1,354,068 |  |  | 210,823 |  |  | 521,096 |  |  | (2,085,987) |  |  | — |
Other |  |  | 25,457 |  |  | 43,471 |  |  | 32,481 |  |  | — |  |  | 101,409 |
Noncurrent liabilities of discontinued operations |  |  | — |  |  | — |  |  | 4,012 |  |  | — |  |  | 4,012 |
Total noncurrent liabilities |  |  | 1,368,324 |  |  | 2,033,577 |  |  | 615,098 |  |  | (2,085,987) |  |  | 1,931,012 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 11,196 |  |  | 100 |  |  | — |  |  | (100) |  |  | 11,196 |
Additional paid-in capital |  |  | 487,248 |  |  | 52,437 |  |  | 1,039 |  |  | (53,476) |  |  | 487,248 |
Retained earnings |  |  | 3,855,686 |  |  | 5,396,212 |  |  | 197,006 |  |  | (5,593,218) |  |  | 3,855,686 |
Accumulated other comprehensive income |  |  | 2,300 |  |  | 6,738 |  |  | — |  |  | (6,738) |  |  | 2,300 |
Treasury stock, at cost |  |  | (191,839) |  |  | — |  |  | — |  |  | — |  |  | (191,839) |
Total shareholders’ equity |  |  | 4,164,591 |  |  | 5,455,487 |  |  | 198,045 |  |  | (5,653,532) |  |  | 4,164,591 |
Total liabilities and shareholders’ equity |  | $ | 5,641,973 |  | $ | 7,686,234 |  | $ | 851,747 |  | $ | (7,739,966) |  | $ | 6,439,988 |
Schedule of Consolidated Condensed Statements of Cash Flows | CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands)
|  | Six Months Ended March 31, 2018 |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net cash provided by operating activities |  | $ | 3,946 |  | $ | 192,093 |  | $ | 955 |  | $ | — |  | $ | 196,994 |
INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | (4,661) |  |  | (181,218) |  |  | (5,323) |  |  | — |  |  | (191,202) |
Purchase of short-term investments |  |  | — |  |  | (36,784) |  |  | — |  |  | — |  |  | (36,784) |
Acquisition of business, net of cash acquired |  |  | (47,886) |  |  | — |  |  | — |  |  | — |  |  | (47,886) |
Proceeds from sale of short-term investments |  |  | — |  |  | 32,020 |  |  | — |  |  | — |  |  | 32,020 |
Intercompany transfers |  |  | 52,547 |  |  | (52,547) |  |  | — |  |  | — |  |  | — |
Proceeds from asset sales |  |  | — |  |  | 16,308 |  |  | 1,518 |  |  | — |  |  | 17,826 |
Net cash used in investing activities |  |  | — |  |  | (222,221) |  |  | (3,805) |  |  | — |  |  | (226,026) |
FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany transfers |  |  | 153,433 |  |  | (153,433) |  |  | — |  |  | — |  |  | — |
Dividends paid |  |  | (153,433) |  |  | — |  |  | — |  |  | — |  |  | (153,433) |
Proceeds from stock option exercises |  |  | 1,645 |  |  | — |  |  | — |  |  | — |  |  | 1,645 |
Payments for employee taxes on net settlement of equity awards |  |  | (5,791) |  |  | — |  |  | — |  |  | — |  |  | (5,791) |
Net cash used in financing activities |  |  | (4,146) |  |  | (153,433) |  |  | — |  |  | — |  |  | (157,579) |
Net decrease in cash and cash equivalents |  |  | (200) |  |  | (183,561) |  |  | (2,850) |  |  | — |  |  | (186,611) |
Cash and cash equivalents, beginning of period |  |  | (587) |  |  | 508,091 |  |  | 13,871 |  |  | — |  |  | 521,375 |
Cash and cash equivalents, end of period |  | $ | (787) |  | $ | 324,530 |  | $ | 11,021 |  | $ | — |  | $ | 334,764 |
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (in thousands)
|  | Six Months Ended March 31, 2017, as adjusted |
|  | Guarantor/ |  | Issuer |  | Non-Guarantor |  |  |  | Total |
|  | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | (5,993) |  | $ | 148,481 |  | $ | 7,790 |  | $ | — |  | $ | 150,278 |
INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | (1,343) |  |  | (172,338) |  |  | (1,622) |  |  | — |  |  | (175,303) |
Purchase of short-term investments |  |  | — |  |  | (37,899) |  |  | — |  |  | — |  |  | (37,899) |
Proceeds from sale of short-term investments |  |  | — |  |  | 34,000 |  |  | — |  |  | — |  |  | 34,000 |
Intercompany transfers |  |  | 1,343 |  |  | (1,343) |  |  | — |  |  | — |  |  | — |
Proceeds from asset sales |  |  | — |  |  | 12,908 |  |  | 551 |  |  | — |  |  | 13,459 |
Net cash used in investing activities |  |  | — |  |  | (164,672) |  |  | (1,071) |  |  | — |  |  | (165,743) |
FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany transfers |  |  | 152,617 |  |  | (152,617) |  |  | — |  |  | — |  |  | — |
Dividends paid |  |  | (152,617) |  |  | — |  |  | — |  |  | — |  |  | (152,617) |
Proceeds from stock option exercises |  |  | 10,372 |  |  | — |  |  | — |  |  | — |  |  | 10,372 |
Payments for employee taxes on net settlement of equity awards |  |  | (6,105) |  |  | — |  |  | — |  |  | — |  |  | (6,105) |
Net cash provided by (used in) financing activities |  |  | 4,267 |  |  | (152,617) |  |  | — |  |  | — |  |  | (148,350) |
Net increase (decrease) in cash and cash equivalents |  |  | (1,726) |  |  | (168,808) |  |  | 6,719 |  |  | — |  |  | (163,815) |
Cash and cash equivalents, beginning of period |  |  | (955) |  |  | 899,028 |  |  | 7,488 |  |  | — |  |  | 905,561 |
Cash and cash equivalents, end of period |  | $ | (2,681) |  | $ | 730,220 |  | $ | 14,207 |  | $ | — |  | $ | 741,746 |

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