v3.25.1
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Mar. 31, 2025
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 at March 31, 2025, September 30, 2024 and March 31, 2024, and the final settlement dates of the Company's open derivative contracts as of March 31, 2025, but excluding those derivatives that qualified for the NPNS exception:
Notional Amounts
(in millions)
TypeUnitsSettlements Extending ThroughMarch 31, 2025September 30, 2024March 31, 2024
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contractsDekathermsFebruary 202618 26 13 
Non-utility Operations
LPG swapsGallonsSeptember 2027414 458 425 
Natural gas futures, forward, basis swap, options and pipeline contractsDekathermsMarch 2029266 325 339 
Electricity forward and futures contracts Kilowatt hoursDecember 2027842 1,113 544 
Interest Rate Risk:
Interest rate swapsEuroMarch 2026€300 €300 €300 
Interest rate swapsUSDSeptember 2027$1,224 $1,231 $1,263 
Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contractsUSDSeptember 2027$202 $389 $240 
Net investment hedge forward foreign exchange contractsEuroDecember 2026€181 €181 €256 
Schedule of Derivative Assets, Liabilities and Effects of Offsetting
The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting:
March 31,
2025		September 30,
2024		March 31,
2024
Derivative assets:
Derivatives designated as hedging instruments:  
Foreign currency contracts$12 $6 $11 
Interest rate contracts1 1 11 
13 7 22 
Derivatives subject to PGC and DS mechanisms:
Commodity contracts19 4 8 
Derivatives not designated as hedging instruments:  
Commodity contracts222 129 138 
Foreign currency contracts2 — 5 
224 129 143 
Total derivative assets — gross256 140 173 
Gross amounts offset in the balance sheet(138)(88)(111)
Cash collateral received(45)(14)(6)
Total derivative assets — net$73 $38 $56 
Derivative liabilities:
Derivatives designated as hedging instruments:
Interest rate contracts$(11)$(22)$(3)
Derivatives subject to PGC and DS mechanisms:
Commodity contracts— (1)(14)
Derivatives not designated as hedging instruments:
Commodity contracts(159)(151)(208)
Foreign currency contracts(1)(9)(1)
(160)(160)(209)
Total derivative liabilities — gross(171)(183)(226)
Gross amounts offset in the balance sheet138 88 111 
Cash collateral pledged— 36 56 
Total derivative liabilities — net$(33)$(59)$(59)
Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI
The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI:
Three Months Ended March 31,:
Gain (Loss)
Recognized in
AOCI		Gain (Loss)
Reclassified from
AOCI into Income		Location of Gain (Loss) Reclassified from
AOCI into Income
Cash Flow Hedges:2025202420252024
Interest rate contracts$(6)$17 $(1)$14 Interest expense
Net Investment Hedges:
Foreign currency contracts$(6)$8 
Gain (Loss)
Recognized in Income
Derivatives Not Designated as Hedging Instruments:20252024Location of Gain (Loss) Recognized in Income
Commodity contracts$(1)$(1)Revenues
Commodity contracts67 26 Cost of sales
Commodity contracts— (1)Other operating expense (income), net
Foreign currency contracts(9)8 Other non-operating income (expense), net
Total$57 $32 
Six Months Ended March 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:2025202420252024
Interest rate contracts$14 $(5)$1 $27 Interest expense
Net Investment Hedges:
Foreign currency contracts$7 $(2)
Gain (Loss)
Recognized in Income
Derivatives Not Designated as Hedging Instruments:20252024Location of Gain (Loss) Recognized in Income
Commodity contracts$(2)$1 Revenues
Commodity contracts136 (129)Cost of sales
Commodity contracts(1)2 Other operating expense (income), net
Foreign currency contracts16 (8)Other non-operating income (expense), net
Total$149 $(134)