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Shareholders' Equity | 9 Months Ended
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Jun. 30, 2022
Equity [Abstract] |
Shareholders' Equity | Shareholders' EquityThe following tables present a reconciliation of changes in stockholders' equity for the three and nine months ended June 30, 2022 and 2021.
| Common stock |  | Additional Paid-in Capital |  | Accumulated Other Comprehensive Income (Loss) |  | Retained Earnings |  | Total
| Number of Shares |  | Stated Value |
| (In thousands, except share and per share data)
Balance, September 30, 2021 | 132,419,754 |  |  | $ | 662 |  |  | $ | 5,023,751 |  |  | $ | 69,803 |  |  | $ | 2,812,673 |  |  | $ | 7,906,889 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 249,209 |  |  | 249,209 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | (45,947) |  |  | — |  |  | (45,947) |
Cash dividends ($0.68 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (90,411) |  |  | (90,411) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 2,730,115 |  |  | 13 |  |  | 265,848 |  |  | — |  |  | — |  |  | 265,861 |
Stock-based compensation plans | 275,212 |  |  | 2 |  |  | 3,942 |  |  | — |  |  | — |  |  | 3,944 |
Balance, December 31, 2021 | 135,425,081 |  |  | 677 |  |  | 5,293,541 |  |  | 23,856 |  |  | 2,971,471 |  |  | 8,289,545 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 324,999 |  |  | 324,999 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 121,723 |  |  | — |  |  | 121,723 |
Cash dividends ($0.68 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (93,533) |  |  | (93,533) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 3,509,116 |  |  | 18 |  |  | 336,451 |  |  | — |  |  | — |  |  | 336,469 |
Stock-based compensation plans | 77,832 |  |  | — |  |  | 4,028 |  |  | — |  |  | — |  |  | 4,028 |
Balance, March 31, 2022 | 139,012,029 |  |  | 695 |  |  | 5,634,020 |  |  | 145,579 |  |  | 3,202,937 |  |  | 8,983,231 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 128,547 |  |  | 128,547 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 159,631 |  |  | — |  |  | 159,631 |
Cash dividends ($0.68 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (95,312) |  |  | (95,312) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 801,952 |  |  | 4 |  |  | 84,656 |  |  | — |  |  | — |  |  | 84,660 |
Stock-based compensation plans | 74,775 |  |  | — |  |  | 7,414 |  |  | — |  |  | — |  |  | 7,414 |
Balance, June 30, 2022 | 139,888,756 |  |  | $ | 699 |  |  | $ | 5,726,090 |  |  | $ | 305,210 |  |  | $ | 3,236,172 |  |  | $ | 9,268,171 |
| Common stock |  | Additional Paid-in Capital |  | Accumulated Other Comprehensive Income (Loss) |  | Retained Earnings |  | Total
| Number of Shares |  | Stated Value |
| (In thousands, except share and per share data)
Balance, September 30, 2020 | 125,882,477 |  |  | $ | 629 |  |  | $ | 4,377,149 |  |  | $ | (57,589) |  |  | $ | 2,471,014 |  |  | $ | 6,791,203 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 217,678 |  |  | 217,678 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 60,121 |  |  | — |  |  | 60,121 |
Cash dividends ($0.625 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (79,023) |  |  | (79,023) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 2,126,118 |  |  | 11 |  |  | 219,998 |  |  | — |  |  | — |  |  | 220,009 |
Stock-based compensation plans | 144,366 |  |  | 1 |  |  | 3,167 |  |  | — |  |  | — |  |  | 3,168 |
Balance, December 31, 2020 | 128,152,961 |  |  | 641 |  |  | 4,600,314 |  |  | 2,532 |  |  | 2,609,669 |  |  | 7,213,156 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 296,754 |  |  | 296,754 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 137,939 |  |  | — |  |  | 137,939 |
Cash dividends ($0.625 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (80,325) |  |  | (80,325) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 2,498,026 |  |  | 12 |  |  | 248,948 |  |  | — |  |  | — |  |  | 248,960 |
Stock-based compensation plans | 16,122 |  |  | — |  |  | 4,441 |  |  | — |  |  | — |  |  | 4,441 |
Balance, March 31, 2021 | 130,667,109 |  |  | 653 |  |  | 4,853,703 |  |  | 140,471 |  |  | 2,826,098 |  |  | 7,820,925 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 102,411 |  |  | 102,411 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | (79,232) |  |  | — |  |  | (79,232) |
Cash dividends ($0.625 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (81,912) |  |  | (81,912) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 39,078 |  |  | 1 |  |  | 3,829 |  |  | — |  |  | — |  |  | 3,830 |
Stock-based compensation plans | 80,852 |  |  | — |  |  | 7,736 |  |  | — |  |  | — |  |  | 7,736 |
Balance, June 30, 2021 | 130,787,039 |  |  | $ | 654 |  |  | $ | 4,865,268 |  |  | $ | 61,239 |  |  | $ | 2,846,597 |  |  | $ | 7,773,758 |
Shelf Registration, At-the-Market Equity Sales Program and Equity Issuances We have a shelf registration statement with the Securities and Exchange Commission (SEC) that allows us to issue up to $5.0 billion in common stock and/or debt securities through June 29, 2024. As of the date of this report, $2.2 billion of securities were available for issuance under this shelf registration statement. On March 23, 2022, we filed a prospectus supplement under the shelf registration statement relating to an at-the-market (ATM) equity sales program under which we may issue and sell shares of our common stock up to an aggregate offering price of $1.0 billion through June 29, 2024 (including shares of common stock that may be sold pursuant to forward sale agreements entered into concurrently with the ATM equity sales program). This ATM equity sales program replaced our previous ATM equity sales program, filed on June 29, 2021, which was exhausted during our second fiscal quarter. During the nine months ended June 30, 2022, we executed forward sales under our ATM equity sales program with various forward sellers who borrowed and sold 10,308,214 shares of our common stock at an aggregate price of $1.1 billion. During the nine months ended June 30, 2022, we also settled forward sale agreements with respect to 6,932,722 shares that had been borrowed and sold by various forward sellers under the ATM program for net proceeds of $675.3 million. As of June 30, 2022, $663.0 million of equity was available for issuance under our existing ATM program. Additionally, we had $700.9 million in available proceeds from outstanding forward sale agreements, as detailed below.
Maturity |  | Shares Available |  | Net Proceeds Available (In thousands) |  |  | Forward Price
September 29, 2023 |  | 5,527,318 |  |  | $ | 595,261 |  |  |  | $ | 107.69 |
December 29, 2023 |  | 919,898 |  |  | 105,634 |  |  |  | $ | 114.83 |
Total |  | 6,447,216 |  |  | $ | 700,895 |  |  |  | $ | 108.71 |
Accumulated Other Comprehensive Income (Loss) We record deferred gains (losses) in AOCI related to available-for-sale debt securities and interest rate agreement cash flow hedges. Deferred gains (losses) for our available-for-sale debt securities are recognized in earnings upon settlement, while deferred gains (losses) related to our interest rate agreement cash flow hedges are recognized in earnings on a straight-line basis over the life of the related financing. The following tables provide the components of our accumulated other comprehensive income (loss) balances, net of the related tax effects allocated to each component of other comprehensive income (loss).
| Available- for-Sale Securities |  | Interest Rate Agreement Cash Flow Hedges |  |  |  | Total
| (In thousands)
September 30, 2021 | $ | 47 |  |  | $ | 69,756 |  |  |  |  | $ | 69,803 |
Other comprehensive income (loss) before reclassifications | (336) |  |  | 233,511 |  |  |  |  | 233,175 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | 2,232 |  |  |  |  | 2,232 |
Net current-period other comprehensive income (loss) | (336) |  |  | 235,743 |  |  |  |  | 235,407 |
June 30, 2022 | $ | (289) |  |  | $ | 305,499 |  |  |  |  | $ | 305,210 |
| Available- for-Sale Securities |  | Interest Rate Agreement Cash Flow Hedges |  |  |  | Total
| (In thousands)
September 30, 2020 | $ | 238 |  |  | $ | (57,827) |  |  |  |  | $ | (57,589) |
Other comprehensive income (loss) before reclassifications | (165) |  |  | 115,568 |  |  |  |  | 115,403 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | 3,425 |  |  |  |  | 3,425 |
Net current-period other comprehensive income (loss) | (165) |  |  | 118,993 |  |  |  |  | 118,828 |
June 30, 2021 | $ | 73 |  |  | $ | 61,166 |  |  |  |  | $ | 61,239 |

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