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Segment Information
 12 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
As of September 30, 2025, we manage and review our consolidated operations through the following two reportable segments:
•The distribution segment is comprised of our regulated natural gas distribution and related sales operations in eight states.
•The pipeline and storage segment is comprised primarily of the regulated pipeline and storage operations of our Atmos Pipeline-Texas division and our natural gas transmission operations in Louisiana.
Our determination of reportable segments considers the strategic operating units under which we manage sales of various products and services to customers. Although our distribution segment operations are geographically dispersed, they are aggregated and reported as a single segment as each natural gas distribution division has similar economic characteristics. In
addition, because the pipeline and storage operations of our Atmos Pipeline-Texas division and our natural gas transmission operations in Louisiana have similar economic characteristics, they have been aggregated and reported as a single segment.
The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on net income or loss of the respective operating units. We allocate interest and pension expense to the pipeline and storage segment; however, there is no debt or pension liability recorded on the pipeline and storage segment balance sheet. All material intercompany transactions have been eliminated; however, we have not eliminated intercompany profits when such amounts are probable of recovery under the affiliates’ rate regulation process. Income taxes are allocated to each segment as if each segment’s income taxes were calculated on a separate return basis.
Our Chief Operating Decision Maker (CODM), the Chief Executive Officer, evaluates performance for each reportable segment based on net income, which is used to help inform the allocation of resources as part of the Company's process for budgeting and monitoring financial performance.
Income statement information and capital expenditures by segment are shown in the following tables.
 Year Ended September 30, 2025
 DistributionPipeline and StorageTotal of Reportable Segments
 (In thousands)
Operating revenues from external parties$4,422,355 $280,400 $4,702,755 
Intersegment revenues3,042 784,900 787,942 
Total operating revenues4,425,397 1,065,300 5,490,697 
Operation and maintenance expense644,924 229,986 874,910 
Depreciation and amortization expense (2)
543,840 190,905 734,745 
Interest charges (2)
99,226 72,452 171,678 
Income tax expense (2)
150,961 128,319 279,280 
Other segment items (1)
2,239,665 (8,335)2,231,330 
Net income (2)
$746,781 $451,973 $1,198,754 
Capital expenditures (2)
$2,662,703 $898,696 $3,561,399 
Reconciliation to consolidated total operating revenues:
Total operating revenues of reportable segments$5,490,697 
Elimination of intersegment revenues(787,942)
Consolidated total operating revenues$4,702,755 
 Year Ended September 30, 2024
 DistributionPipeline and StorageTotal of Reportable Segments
 (In thousands)
Operating revenues from external parties$3,912,134 $253,053 $4,165,187 
Intersegment revenues3,007 684,976 687,983 
Total operating revenues3,915,141 938,029 4,853,170 
Operation and maintenance expense589,864 218,571 808,435 
Depreciation and amortization expense (2)
491,982 177,990 669,972 
Interest charges (2)
117,086 73,546 190,632 
Income tax expense (2)
96,041 96,840 192,881 
Other segment items (1)
1,948,755 (400)1,948,355 
Net income (2)
$671,413 $371,482 $1,042,895 
Capital expenditures (2)
$2,249,280 $687,844 $2,937,124 
Reconciliation to consolidated total operating revenues:
Total operating revenues of reportable segments$4,853,170 
Elimination of intersegment revenues(687,983)
Consolidated total operating revenues$4,165,187 

 Year Ended September 30, 2023
 DistributionPipeline and StorageTotal of Reportable Segments
 (In thousands)
Operating revenues from external parties$4,096,661 $178,696 $4,275,357 
Intersegment revenues3,029 606,478 609,507 
Total operating revenues4,099,690 785,174 4,884,864 
Operation and maintenance expense543,078 200,580 743,658 
Depreciation and amortization expense (2)
434,721 169,606 604,327 
Interest charges (2)
77,185 60,096 137,281 
Income tax expense (2)
60,032 53,747 113,779 
Other segment items (1)
2,404,277 (4,320)2,399,957 
Net income (2)
$580,397 $305,465 $885,862 
Capital expenditures (2)
$1,927,125 $878,848 $2,805,973 
Reconciliation to consolidated total operating revenues:
Total operating revenues of reportable segments$4,884,864 
Elimination of intersegment revenues(609,507)
Consolidated total operating revenues$4,275,357 
(1)Other segment items consist of purchased gas cost, bad debt expense, taxes other than income taxes, the equity component of AFUDC, community support spending, and other segment income or expense deemed insignificant which are used to reach net income, our measurement of segment profit or loss.
(2)The totals of reportable segments for these items reconcile to consolidated totals.
The following table summarizes our revenues from external parties, excluding intersegment revenues, by products and services for the fiscal years ended September 30.
202520242023
 (In thousands)
Distribution revenues:
Gas sales revenues:
Residential$2,916,245 $2,583,681 $2,638,689 
Commercial1,154,591 1,016,675 1,112,236 
Industrial122,576 100,596 151,970 
Public authority and other52,606 52,180 62,476 
Total gas sales revenues4,246,018 3,753,132 3,965,371 
Transportation revenues149,853 132,608 119,371 
Other gas revenues26,484 26,394 11,919 
Total distribution revenues4,422,355 3,912,134 4,096,661 
Pipeline and storage revenues280,400 253,053 178,696 
Total operating revenues$4,702,755 $4,165,187 $4,275,357 

Balance sheet information at September 30, 2025 and 2024 by segment is presented in the following tables.
 September 30, 2025
 DistributionPipeline and StorageTotal of Reportable Segments
 (In thousands)
Property, plant and equipment, net (1)
$18,765,128 $6,527,862 $25,292,990 
Total assets$27,296,805 $6,896,646 $34,193,451 
Reconciliation to consolidated assets:
Total assets of reportable segments$34,193,451 
Elimination of intersegment assets(5,943,929)
Consolidated total assets$28,249,522 

 September 30, 2024
 DistributionPipeline and StorageTotal of Reportable Segments
 (In thousands)
Property, plant and equipment, net (1)
$16,372,659 $5,831,708 $22,204,367 
Total assets$24,328,877 $6,181,558 $30,510,435 
Reconciliation to consolidated assets:
Total assets of reportable segments$30,510,435 
Elimination of intersegment assets(5,315,970)
Consolidated total assets$25,194,465 
(1)The total of reportable segments for this item reconciles to consolidated total.