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FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize our financial assets and liabilities measured at fair value and indicate the level in the fair value hierarchy in which we classify the fair value measurement as of the dates indicated below:

			June 30, 2025
(in thousands)			Fair Value						Level 1						Level 2						Level 3
Assets
Short-term investments:
Corporate and municipal debt securities			$	21,128					$	—					$	21,128					$	—
Total			21,128						—						21,128						—
Long-term Investments:
Recurring fair value measurements:
Equity securities:
Non-qualified supplemental savings plan			17,436						17,436						—						—
Investment in Tamboran			22,218						22,218						—						—
Other equity securities			1,632						1,632						—						—
Debt securities:
Investment in Galileo, net			38,972						—						—						38,972
Geothermal debt securities, net			2,000						—						—						2,000
Other debt securities			250						—						—						250
Total			$	82,508					$	41,286					$	—					$	41,222

			September 30, 2024
(in thousands)			Fair Value						Level 1						Level 2						Level 3
Assets
Short-term investments:
Corporate debt securities			$	33,813					$	—					$	33,813					$	—
U.S. government and federal agency securities			53,490						53,490						—						—
Investment in ADNOC Drilling			205,616						205,616						—						—
Total			292,919						259,106						33,813						—
Long-term investments:
Recurring fair value measurements:
Equity securities:
Non-qualified supplemental savings plan			15,633						15,633						—						—
Investment in Tamboran			20,958						20,958						—						—
Debt securities:
Investment in Galileo, net			27,044						—						—						27,044
Geothermal debt securities, net			2,000						—						—						2,000
Other debt securities			4,588						4,338						—						250
Total			$	70,223					$	40,929					$	—					$	29,294

Schedule of Fair Value, Debt Security Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides quantitative information (in thousands) about our Level 3 unobservable significant inputs related to our debt security investment with Galileo at the dates included below:

June 30, 2025
Fair Value (in thousands)						Valuation Technique						Unobservable Inputs
$	38,972					Black-Scholes-Merton model						Discount rate			17.5		%
												Risk-free rate			4.0		%
												Equity volatility			95.0		%

September 30, 2024
Fair Value (in thousands)						Valuation Technique						Unobservable Inputs
$	27,044					Black-Scholes-Merton model						Discount rate			18.7		%
												Risk-free rate			3.5		%
												Equity volatility			66.0		%

Schedule of Reconciliation of Long Term Debt Securities Available For Sale, Classified as Level 3

The following table reconciles changes in the fair value of our Level 3 assets for the periods presented below:

			Three Months Ended June 30,												Nine Months Ended June 30,
(in thousands)			2025						2024						2025						2024
Assets at beginning of period			$	41,029					$	38,551					$	29,294					$	37,440
Purchases			—						—						—						250
Accrued interest			473						450						1,383						1,316
Total gains (losses):
Included in earnings			—						—						10,162						(5)
Included in other comprehensive income (loss)			(280)						—						383						—
Assets at end of period			$	41,222					$	39,001					$	41,222					$	39,001

The following table reconciles changes in the balance of our equity securities, without readily determinable fair values, including investments that have been marked to fair value on a nonrecurring basis, for the periods presented below:

			Three Months Ended June 30,												Nine Months Ended June 30,
(in millions)			2025						2024						2025						2024
Assets at beginning of period			$	45,519					$	30,152					$	30,090					$	28,232
Purchases			594						1,105						1,528						3,641
Disposals1			(27,117)						—						(27,117)						(616)
Transfer in			320						—						320						—
Total gains:
Included in earnings2			624						—						15,119						—
Assets at end of period			$	19,940					$	31,257					$	19,940					$	31,257

(1)During the three months ended June 30, 2025, we liquidated one of our geothermal equity investments for $27.1 million.

(2)The gains recorded during the three and nine months ended June 30, 2025 were attributable to the change in fair value of various geothermal equity investments as a result of disposals or observable price changes in identical or similar investments during the periods.

Schedule of Supplemental Fair Value Information about Long-Term Fixed-Rate Debt

The following information presents the supplemental fair value information for our long-term fixed-rate debt at June 30, 2025 and September 30, 2024:

			Carrying Value at June 30, 2025						Fair Value at June 30, 2025 Using Inputs Considered as:
(in thousands)									Level 1						Level 2						Level 3
Unsecured senior notes:
2027 Notes			$	347,424					$	—					$	344,943					$	—
2029 Notes			346,421						—						331,894						—
2031 Notes			546,186						—						460,944						—
2034 Notes			543,057						—						503,486						—
Unsecured term loan credit agreement:
2027 Term Loan			325,829						—						322,275						—
Secured term loan credit agreements:
2023 Oman Facility1			36,297						—						—						36,297
2024 Oman Facility1			39,622						—						—						39,622
Total long-term debt			$	2,184,836					$	—					$	1,963,542					$	75,919

(1)The secured term credit agreements are classified as nonpublic debt, meaning their value was directly negotiated between the involved parties and is not observable in the market. As a result, they are categorized as Level 3. Since this debt is nonpublic, the carrying value and the fair value of the loans are identical.

			Carrying Value at September 30, 2024						Fair Value at September 30, 2024 Using Inputs Considered as:
(in thousands)									Level 1						Level 2						Level 3
Unsecured senior notes:
2027 Notes			$	347,093					$	—					$	350,700					$	—
2029 Notes			346,297						—						345,100						—
2031 Notes			545,738						—						471,350						—
2034 Notes			543,054						—						535,700						—
Total long-term debt			$	1,782,182					$	—					$	1,702,850					$	—

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Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

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