FAIR VALUE (Tables)

3 Months Ended

Dec. 31, 2012

The estimated fair value of long-term debt, including current maturities and excluding capital leases, is as follows:



(Thousands)	December 31, 2012		September 30, 2012
Carrying value	$	479,845	$	479,845
Fair market value	$	527,371	$	530,056

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized as follows:



	Quoted Prices in Active Markets for Identical Assets			Significant Other Observable Inputs			Significant Unobservable Inputs
(Thousands)	(Level 1)			(Level 2)			(Level 3)			Total
As of December 31, 2012:
Assets:
Physical forward commodity contracts		$	—		$	13,500		$	—	$	13,500
Financial derivative contracts - natural gas		32,192			201			—		32,393
Financial derivative contracts - foreign exchange		—			128			—		128
Available for sale equity securities - energy industry⁽¹⁾		10,469			—			—		10,469
Other ⁽²⁾		211			—			—		211
Total assets at fair value		$	42,872		$	13,829		$	—	$	56,701
Liabilities:
Physical forward commodity contracts		$	—		$	10,450		$	—	$	10,450
Financial derivative contracts - natural gas		13,175			664			—		13,839
Financial derivative contracts - foreign exchange		—			71			—		71
Other		—			—			—		—
Total liabilities at fair value		$	13,175		$	11,185		$	—	$	24,360

As of September 30, 2012:
Assets:
Physical forward commodity contracts		$	—		$	20,248		$	—	$	20,248
Financial derivative contracts - natural gas		14,270			15,645			—		29,915
Financial derivative contracts - foreign exchange		—			186			—		186
Available for sale equity securities - energy industry⁽¹⁾		11,009			—			—		11,009
Other ⁽²⁾		30			—			—		30
Total assets at fair value		$	25,309		$	36,079		$	—	$	61,388
Liabilities:
Physical forward commodity contracts		$	—		$	9,746		$	—	$	9,746
Financial derivative contracts - natural gas		16,922			18,793			—		35,715
Financial derivative contracts - foreign exchange		—			112			—		112
Other		—			—			—		—
Total liabilities at fair value		$	16,922		$	28,651		$	—	$	45,573


(1)	Included in Other noncurrent assets on the Unaudited Condensed Consolidated Balance Sheets.


(2)	Includes various money market funds.

Fair Value Level 2 To Level 1 Transfers

A summary of transfers between Level 1 and Level 2 is as follows:



(Thousands)
Transfers out of Level 2 into Level 1	December 31, 2012
Assets:
Financial derivative contracts - natural gas	$	19,564
Liabilities:
Financial derivative contracts - natural gas	(8,766		)
Total	$	10,798

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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