XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts Related to Open Derivative Contracts | The following table summarizes by derivative type the gross notional amounts related to open derivative contracts and the final settlement date of the Company's open derivative transactions as of December 31, 2016, September 30, 2016 and December 31, 2015, and the final settlement date of the Company's open derivative transactions as of December 31, 2016, excluding those derivatives that qualified for the NPNS exception:
|  |  |  |  |  | Notional Amounts (in millions)
Type |  | Units |  | Settlements Extending Through |  | December 31, 2016 |  | September 30, 2016 |  | December 31, 2015
Commodity Price Risk: |  |  |  |  |  |  |  |  |  |
Regulated Utility Operations |  |  |  |  |  |  |  |  |  |
Gas Utility NYMEX natural gas futures and option contracts |  | Dekatherms |  | September 2017 |  | 11.7 |  |  | 18.4 |  |  | 12.4 |
Electric Utility forward electricity purchase contracts |  | Kilowatt hours |  | N/A |  | — |  |  | — |  |  | 55.9 |
FTRs |  | Kilowatt hours |  | May 2017 |  | 36.2 |  |  | 58.3 |  |  | 172.6 |
Non-utility operations |  |  |  |  |  |  |  |  |  |
LPG swaps & options |  | Gallons |  | September 2019 |  | 325.9 |  |  | 396.9 |  |  | 481.9 |
Natural gas futures, forward and pipeline contracts |  | Dekatherms |  | December 2020 |  | 70.2 |  |  | 71.1 |  |  | 104.9 |
Natural gas basis swap contracts |  | Dekatherms |  | December 2020 |  | 120.1 |  |  | 118.3 |  |  | 86.1 |
NYMEX natural gas storage |  | Dekatherms |  | April 2017 |  | 1.3 |  |  | 1.9 |  |  | 1.6 |
NYMEX propane storage |  | Gallons |  | N/A |  | — |  |  | — |  |  | 1.8 |
Electricity long forward and futures contracts |  | Kilowatt hours |  | January 2020 |  | 685.5 |  |  | 761.2 |  |  | 547.8 |
Electricity short forward and futures contracts |  | Kilowatt hours |  | January 2020 |  | 352.5 |  |  | 264.6 |  |  | 252.9 |
FTRs |  | Kilowatt hours |  | N/A |  | — |  |  | — |  |  | 51.1 |
Interest Rate Risk: |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | Euro |  | October 2020 |  | € | 645.8 |  |  | € | 645.8 |  |  | € | 645.8 |
IRPAs |  | USD |  | N/A |  | $ | — |  |  | $ | — |  |  | $ | 290.0 |
Foreign Currency Exchange Rate Risk: |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  | USD |  | September 2020 |  | $ | 416.7 |  |  | $ | 314.3 |  |  | $ | 280.5 |
Cross-currency swaps |  | USD |  | September 2018 |  | $ | 59.1 |  |  | $ | 59.1 |  |  | $ | 59.1 |
Schedule of Derivative Assets, Liabilities and the Effects of Offsetting | The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting, as of December 31, 2016, September 30, 2016 and December 31, 2015:
|  | December 31, 2016 |  | September 30, 2016 |  | December 31, 2015
Derivative assets: |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign currency contracts |  | $ | 24.6 |  |  | $ | 17.8 |  |  | $ | 25.4 |
Cross-currency contracts |  | 3.5 |  |  | — |  |  | 1.9 |
Interest rate contracts |  | — |  |  | — |  |  | 0.6 |
|  | 28.1 |  |  | 17.8 |  |  | 27.9 |
Derivatives subject to PGC and DS mechanisms: |  |  |  |  |  |
Commodity contracts |  | 6.9 |  |  | 4.5 |  |  | 0.2 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Commodity contracts |  | 117.6 |  |  | 50.4 |  |  | 30.3 |
Foreign currency contracts |  | 1.4 |  |  | — |  |  | — |
|  | 119.0 |  |  | 50.4 |  |  | 30.3 |
Total derivative assets — gross |  | 154.0 |  |  | 72.7 |  |  | 58.4 |
Gross amounts offset in the balance sheet |  | (35.7 | ) |  | (35.0 | ) |  | (15.6 | )
Cash collateral received |  | (7.1 | ) |  | (0.3 | ) |  | — |
Total derivative assets — net |  | $ | 111.2 |  |  | $ | 37.4 |  |  | $ | 42.8 |
Derivative liabilities: |  |  |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign currency contracts |  | $ | — |  |  | $ | (2.4 | ) |  | $ | — |
Cross-currency contracts |  | — |  |  | (0.5 | ) |  | — |
Interest rate contracts |  | (2.8 | ) |  | (3.9 | ) |  | (9.8 | )
|  | (2.8 | ) |  | (6.8 | ) |  | (9.8 | )
Derivatives subject to PGC and DS mechanisms: |  |  |  |  |  |
Commodity contracts |  | (0.3 | ) |  | (0.5 | ) |  | (6.3 | )
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Commodity contracts |  | (65.2 | ) |  | (98.1 | ) |  | (161.7 | )
Foreign currency contracts |  | (0.2 | ) |  | — |  |  | — |
|  | (65.4 | ) |  | (98.1 | ) |  | (161.7 | )
Total derivative liabilities — gross |  | (68.5 | ) |  | (105.4 | ) |  | (177.8 | )
Gross amounts offset in the balance sheet |  | 35.7 |  |  | 35.0 |  |  | 15.6 |
Cash collateral pledged |  | — |  |  | — |  |  | 5.5 |
Total derivative liabilities — net |  | $ | (32.8 | ) |  | $ | (70.4 | ) |  | $ | (156.7 | )
Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI and Noncontrolling Interest | The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI for the three months ended December 31, 2016 and 2015:
Three Months Ended December 31,: |  |  |  |  |  |  |  |  |  |
|  | Gain (Loss) Recognized in AOCI |  | Gain (Loss) Reclassified from AOCI into Income |  | Location of Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges: |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Foreign currency contracts |  | 17.2 |  |  | 5.4 |  |  | 7.9 |  |  | 9.1 |  |  | Cost of sales
Cross-currency contracts |  | (0.1 | ) |  | — |  |  | (0.3 | ) |  | — |  |  | Interest expense/other operating income, net
Interest rate contracts |  | 1.2 |  |  | 5.6 |  |  | (1.0 | ) |  | (0.6 | ) |  | Interest expense
Total |  | $ | 18.3 |  |  | $ | 11.0 |  |  | $ | 6.6 |  |  | $ | 8.5 |  |  |
|  | Gain (Loss) Recognized in Income |  | Location of Gain (Loss) Recognized in Income |  |
Derivatives Not Designated as Hedging Instruments: |  | 2016 |  | 2015 |  |  |
Commodity contracts |  | $ | 108.5 |  |  | $ | (46.2 | ) |  | Cost of sales |  |
Commodity contracts |  | 0.1 |  |  | 1.6 |  |  | Revenues |  |
Commodity contracts |  | (0.1 | ) |  | (0.1 | ) |  | Operating and administrative expenses |  |
Foreign currency contracts |  | 1.3 |  |  | — |  |  | Gains on foreign currency contracts, net |  |
Total |  | $ | 109.8 |  |  | $ | (44.7 | ) |  |  |  |  |  |

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

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration