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Revenue and Accounts Receivable | 6 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue and Accounts Receivable | Revenue and Accounts Receivable Revenue Our revenue recognition policy is fully described in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024. The following tables disaggregate our revenue from contracts with customers by customer type and segment and provide a reconciliation to total operating revenues, including intersegment revenues, for the three and six months ended March 31, 2025 and 2024.
| Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
| Distribution |  | Pipeline and Storage |  | Distribution |  | Pipeline and Storage
| (In thousands)
Gas sales revenues: |  |  |  |  |  |  |
Residential | $ | 1,308,691 |  |  | $ | — |  |  | $ | 1,065,296 |  |  | $ | — |
Commercial | 480,108 |  |  | — |  |  | 404,701 |  |  | — |
Industrial | 38,885 |  |  | — |  |  | 30,419 |  |  | — |
Public authority and other | 23,921 |  |  | — |  |  | 21,120 |  |  | — |
Total gas sales revenues | 1,851,605 |  |  | — |  |  | 1,521,536 |  |  | — |
Transportation revenues | 43,352 |  |  | 266,514 |  |  | 37,607 |  |  | 223,159 |
Miscellaneous revenues | 4,222 |  |  | 4,259 |  |  | 3,724 |  |  | 2,162 |
Revenues from contracts with customers | 1,899,179 |  |  | 270,773 |  |  | 1,562,867 |  |  | 225,321 |
Alternative revenue program revenues | (20,117) |  |  | (11,774) |  |  | 22,315 |  |  | (1,834) |
Other revenues | 3,466 |  |  | — |  |  | 3,999 |  |  | — |
Total operating revenues | $ | 1,882,528 |  |  | $ | 258,999 |  |  | $ | 1,589,181 |  |  | $ | 223,487 |
| Six Months Ended March 31, 2025 |  | Six Months Ended March 31, 2024
| Distribution |  | Pipeline and Storage |  | Distribution |  | Pipeline and Storage
| (In thousands)
Gas sales revenues: |  |  |  |  |  |  |
Residential | $ | 2,001,741 |  |  | $ | — |  |  | $ | 1,792,978 |  |  | $ | — |
Commercial | 746,162 |  |  | — |  |  | 681,954 |  |  | — |
Industrial | 65,206 |  |  | — |  |  | 58,650 |  |  | — |
Public authority and other | 36,802 |  |  | — |  |  | 35,704 |  |  | — |
Total gas sales revenues | 2,849,911 |  |  | — |  |  | 2,569,286 |  |  | — |
Transportation revenues | 80,079 |  |  | 532,543 |  |  | 71,374 |  |  | 438,464 |
Miscellaneous revenues | 7,244 |  |  | 6,923 |  |  | 6,367 |  |  | 5,204 |
Revenues from contracts with customers | 2,937,234 |  |  | 539,466 |  |  | 2,647,027 |  |  | 443,668 |
Alternative revenue program revenues | 47,219 |  |  | (25,077) |  |  | 39,716 |  |  | (9,012) |
Other revenues | 7,410 |  |  | — |  |  | 7,776 |  |  | — |
Total operating revenues | $ | 2,991,863 |  |  | $ | 514,389 |  |  | $ | 2,694,519 |  |  | $ | 434,656 |
We have alternative revenue programs in each of our segments. In our distribution segment, we have weather-normalization adjustment mechanisms that serve to mitigate the effects of weather on our revenue. In our pipeline and storage segment, APT has a regulatory mechanism that requires that we share with its tariffed customers 75% of the difference between the total non-tariffed revenues earned during a test period and a revenue benchmark established by the RRC. Other revenues includes AEK revenues (see Note 9 to the condensed consolidated financial statements) and other miscellaneous revenues. Accounts receivable and allowance for uncollectible accounts Accounts receivable arise from natural gas sales to residential, commercial, industrial, public authority, and other customers. Our accounts receivable balance includes unbilled amounts which represent a customer’s consumption of gas from the date of the last cycle billing through the last day of the month. Our policy related to the accounting for our accounts receivable and allowance for uncollectible accounts is fully described in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024. During the six months ended March 31, 2025, there were no material changes to this policy. Rollforwards of our allowance for uncollectible accounts for the three and six months ended March 31, 2025 and 2024 are presented in the table below. The allowance excludes the gas cost portion of customers’ bills for approximately 89 percent of our customers as we have the ability to collect these gas costs through our gas cost recovery mechanisms in most of our jurisdictions. In December 2023, the Mississippi Public Service Commission approved the recovery of uncollectible accounts through our purchased gas cost mechanism over a two-year period rather than through our annual filing mechanism over a one-year period. As a result of this decision, we recorded a $13.9 million reduction to bad debt expense during the first quarter of fiscal 2024. Of this amount, $9.7 million represents future recovery of customer receivables previously written off since April 2022 but not yet recovered through our rates. This amount increased our deferred gas cost regulatory asset. The remaining $4.2 million reduction represents a reversal of our allowance for uncollectible accounts for customer balances that have not yet been written off.
| Three Months Ended March 31, 2025
| (In thousands)
Beginning balance, December 31, 2024 | $ | 39,166 |
Current period provisions | 14,391 |
Write-offs charged against allowance | (4,761) |
Recoveries of amounts previously written off | 545 |
Ending balance, March 31, 2025 | $ | 49,341 |
| Three Months Ended March 31, 2024
| (In thousands)
Beginning balance, December 31, 2023 | $ | 35,406 |
Current period provisions | 12,797 |
Write-offs charged against allowance | (5,859) |
Recoveries of amounts previously written off | 361 |
Ending balance, March 31, 2024 | $ | 42,705 |
| Six Months Ended March 31, 2025
| (In thousands)
Beginning balance, September 30, 2024 | $ | 37,056 |
Current period provisions | 23,015 |
Write-offs charged against allowance | (12,209) |
Recoveries of amounts previously written off | 1,479 |
Ending balance, March 31, 2025 | $ | 49,341 |
| Six Months Ended March 31, 2024
| (In thousands)
Beginning balance, September 30, 2023 | $ | 40,840 |
Current period provisions | 19,547 |
Write-offs charged against allowance | (14,616) |
Recoveries of amounts previously written off | 1,126 |
Mississippi recovery of uncollectible accounts | (4,192) |
Ending balance, March 31, 2024 | $ | 42,705 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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