XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.25.1

Shareholders' Equity | 6 Months Ended
--- | ---
Mar. 31, 2025
Equity [Abstract] |
Shareholders' Equity | Shareholders' Equity The following tables present a reconciliation of changes in stockholders' equity for the three and six months ended March 31, 2025 and 2024.
| 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, 2024 | 155,258,845 |  |  | $ | 776 |  |  | $ | 7,474,559 |  |  | $ | 465,715 |  |  | $ | 4,216,619 |  |  | $ | 12,157,669 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 351,858 |  |  | 351,858 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 16,423 |  |  | — |  |  | 16,423 |
Cash dividends ($0.87 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (135,453) |  |  | (135,453) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 3,329,358 |  |  | 17 |  |  | 383,520 |  |  | — |  |  | — |  |  | 383,537 |
Stock-based compensation plans | 137,862 |  |  | 1 |  |  | 6,446 |  |  | — |  |  | — |  |  | 6,447 |
Balance, December 31, 2024 | 158,726,065 |  |  | 794 |  |  | 7,864,525 |  |  | 482,138 |  |  | 4,433,024 |  |  | 12,780,481 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 485,576 |  |  | 485,576 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | (5,587) |  |  | — |  |  | (5,587) |
Cash dividends ($0.87 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (138,416) |  |  | (138,416) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 26,367 |  |  | — |  |  | 3,841 |  |  | — |  |  | — |  |  | 3,841 |
Stock-based compensation plans | 82,691 |  |  | — |  |  | 12,070 |  |  | — |  |  | — |  |  | 12,070 |
Balance, March 31, 2025 | 158,835,123 |  |  | $ | 794 |  |  | $ | 7,880,436 |  |  | $ | 476,551 |  |  | $ | 4,780,184 |  |  | $ | 13,137,965 |
| 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, 2023 | 148,492,783 |  |  | $ | 742 |  |  | $ | 6,684,120 |  |  | $ | 518,528 |  |  | $ | 3,666,674 |  |  | $ | 10,870,064 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 311,292 |  |  | 311,292 |
Other comprehensive loss | — |  |  | — |  |  | — |  |  | (49,936) |  |  | — |  |  | (49,936) |
Cash dividends ($0.805 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (119,898) |  |  | (119,898) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 2,177,864 |  |  | 11 |  |  | 257,757 |  |  | — |  |  | — |  |  | 257,768 |
Stock-based compensation plans | 163,750 |  |  | 1 |  |  | 3,918 |  |  | — |  |  | — |  |  | 3,919 |
Balance, December 31, 2023 | 150,834,397 |  |  | 754 |  |  | 6,945,795 |  |  | 468,592 |  |  | 3,858,068 |  |  | 11,273,209 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 432,023 |  |  | 432,023 |
Other comprehensive income | — |  |  | — |  |  | — |  |  | 27,108 |  |  | — |  |  | 27,108 |
Cash dividends ($0.805 per share) | — |  |  | — |  |  | — |  |  | — |  |  | (121,667) |  |  | (121,667) |
Common stock issued: |  |  |  |  |  |  |  |  |  |  |
Public and other stock offerings | 34,687 |  |  | — |  |  | 4,025 |  |  | — |  |  | — |  |  | 4,025 |
Stock-based compensation plans | 5,468 |  |  | — |  |  | 3,941 |  |  | — |  |  | — |  |  | 3,941 |
Balance, March 31, 2024 | 150,874,552 |  |  | $ | 754 |  |  | $ | 6,953,761 |  |  | $ | 495,700 |  |  | $ | 4,168,424 |  |  | $ | 11,618,639 |
Shelf Registration, At-the-Market Equity Sales Program and Equity Issuances On December 3, 2024, we filed a shelf registration statement with the Securities and Exchange Commission (SEC) that allows us to issue up to $8.0 billion in common stock and/or debt securities, which expires December 3, 2027. At March 31, 2025, $6.3 billion of securities were available for issuance under this shelf registration statement. On December 3, 2024, 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 $1.7 billion through December 3, 2027 (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 May 8, 2024. During the six months ended March 31, 2025, we executed forward sales under our ATM equity sales program with various forward sellers who borrowed and sold 4,609,043 shares of our common stock at an aggregate price of $658.2 million. During the six months ended March 31, 2025, we also settled forward sale agreements with respect to 3,300,904 shares that had been borrowed and sold by various forward sellers under the ATM program for net proceeds of $379.5 million. As of March 31, 2025, $1.0 billion of equity was available for issuance under our existing ATM program. Additionally, we had $1.7 billion in available proceeds from outstanding forward sale agreements, as detailed below.
Maturity |  | Shares Available |  | Net Proceeds Available (In thousands) |  |  | Forward Price
June 30, 2025 |  | 630,514 |  |  | $ | 73,406 |  |  |  | $ | 116.42 |
September 30, 2025 |  | 815,655 |  |  | 96,313 |  |  |  | $ | 118.08 |
December 31, 2025 |  | 2,344,567 |  |  | 297,650 |  |  |  | $ | 126.95 |
March 31, 2026 |  | 3,627,033 |  |  | 463,284 |  |  |  | $ | 127.73 |
June 30, 2026 |  | 669,043 |  |  | 89,150 |  |  |  | $ | 133.25 |
December 31, 2026 |  | 3,392,352 |  |  | 472,749 |  |  |  | $ | 139.36 |
March 31, 2027 |  | 1,119,095 |  |  | $ | 167,073 |  |  |  | $ | 149.29 |
Total |  | 12,598,259 |  |  | $ | 1,659,625 |  |  |  | $ | 131.73 |
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, 2024 | $ | 213 |  |  | $ | 465,502 |  |  |  |  | $ | 465,715 |
Other comprehensive income (loss) before reclassifications | (65) |  |  | 18,041 |  |  |  |  | 17,976 |
Amounts reclassified from accumulated other comprehensive income | — |  |  | (7,140) |  |  |  |  | (7,140) |
Net current-period other comprehensive income (loss) | (65) |  |  | 10,901 |  |  |  |  | 10,836 |
March 31, 2025 | $ | 148 |  |  | $ | 476,403 |  |  |  |  | $ | 476,551 |
| Available- for-Sale Securities |  | Interest Rate Agreement Cash Flow Hedges |  |  |  | Total
| (In thousands)
September 30, 2023 | $ | (369) |  |  | $ | 518,897 |  |  |  |  | $ | 518,528 |
Other comprehensive income (loss) before reclassifications | 246 |  |  | (18,091) |  |  |  |  | (17,845) |
Amounts reclassified from accumulated other comprehensive income | — |  |  | (4,983) |  |  |  |  | (4,983) |
Net current-period other comprehensive income (loss) | 246 |  |  | (23,074) |  |  |  |  | (22,828) |
March 31, 2024 | $ | (123) |  |  | $ | 495,823 |  |  |  |  | $ | 495,700 |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration