FAIR VALUE (Tables)

9 Months Ended

Jun. 30, 2015

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


(1)	Excludes capital leases of $50.7 million and $49.9 million as of June 30, 2015 and September 30, 2014, respectively.

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 June 30, 2015:
Assets:
Physical forward commodity contracts		$	—		$	11,965		$	—	$	11,965
Financial derivative contracts - natural gas		31,398			—			—		31,398
Interest rate contracts		—			2,905			—		2,905
Available for sale equity securities - energy industry⁽¹⁾		9,892			—			—		9,892
Other ⁽²⁾		47,513			—			—		47,513
Total assets at fair value		$	88,803		$	14,870		$	—	$	103,673
Liabilities:
Physical forward commodity contracts		$	—		$	16,900		$	—	$	16,900
Financial commodity contracts - natural gas		38,504			—			—		38,504
Total liabilities at fair value		$	38,504		$	16,900		$	—	$	55,404
As of September 30, 2014:
Assets:
Physical forward commodity contracts		$	—		$	15,426		$	—	$	15,426
Financial derivative contracts - natural gas		54,451			—			—		54,451
Available for sale equity securities - energy industry⁽¹⁾		10,672			—			—		10,672
Other ⁽²⁾		1,299			—			—		1,299
Total assets at fair value		$	66,422		$	15,426		$	—	$	81,848
Liabilities:
Physical forward commodity contracts		$	—		$	30,910		$	—	$	30,910
Financial commodity contracts - natural gas		55,488			—			—		55,488
Financial commodity contracts - foreign exchange		—			155			—		155
Total liabilities at fair value		$	55,488		$	31,065		$	—	$	86,553


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


(2)	Includes various money market funds in Level 1.