v3.25.2
Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Jun. 30, 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 June 30, 2025, September 30, 2024 and June 30, 2024, and the final settlement dates of the Company's open derivative contracts as of June 30, 2025, but excluding those derivatives that qualified for the NPNS exception:
Notional Amounts
(in millions)
TypeUnitsSettlements Extending ThroughJune 30, 2025September 30, 2024June 30, 2024
Commodity Price Risk:
Regulated Utility Operations
PA Gas Utility NYMEX natural gas futures and option contractsDekathermsFebruary 202615 26 14 
Non-utility Operations
LPG swapsGallonsMay 2028536 458 416 
Natural gas futures, forward, basis swap, options and pipeline contractsDekathermsMarch 2029241 325 320 
Electricity forward and futures contracts Kilowatt hoursMarch 2028791 1,113 651 
Interest Rate Risk:
Interest rate swapsEuroMarch 2026€300 €300 €300 
Interest rate swapsUSDSeptember 2028$1,446 $1,231 $1,260 
Foreign Currency Exchange Rate Risk:
Forward foreign currency exchange contractsUSDSeptember 2028$440 $389 $367 
Net investment hedge forward foreign exchange contractsEuroDecember 2026€106 €181 €181 
Schedule of Derivative Assets, Liabilities and Effects of Offsetting
The following table presents the Company’s derivative assets and liabilities by type, as well as the effects of offsetting:
June 30,
2025		September 30,
2024		June 30,
2024
Derivative assets:
Derivatives designated as hedging instruments:  
Foreign currency contracts$— $6 $12 
Interest rate contracts1 1 7 
1 7 19 
Derivatives subject to PGC and DS mechanisms:
Commodity contracts3 4 4 
Derivatives not designated as hedging instruments:  
Commodity contracts110 129 133 
Foreign currency contracts— — 6 
110 129 139 
Total derivative assets — gross114 140 162 
Gross amounts offset in the balance sheet(77)(88)(94)
Cash collateral received(21)(14)(12)
Total derivative assets — net$16 $38 $56 
Derivative liabilities:
Derivatives designated as hedging instruments:
Interest rate contracts$(14)$(22)$— 
Derivatives subject to PGC and DS mechanisms:
Commodity contracts(2)(1)(5)
Derivatives not designated as hedging instruments:
Commodity contracts(156)(151)(169)
Foreign currency contracts(25)(9)(2)
(181)(160)(171)
Total derivative liabilities — gross(197)(183)(176)
Gross amounts offset in the balance sheet77 88 94 
Cash collateral pledged38 36 32 
Total derivative liabilities — net$(82)$(59)$(50)
Schedule of Effects of Derivative Instruments on Condensed Consolidated Statements of Income and Changes in AOCI
The following tables provide information on the effects of derivative instruments on the Condensed Consolidated Statements of Income and changes in AOCI:
Three Months Ended June 30,:
Gain (Loss)
Recognized in
AOCI		Gain (Loss)
Reclassified from
AOCI into Income		Location of Gain (Loss) Reclassified from
AOCI into Income
Cash Flow Hedges:2025202420252024
Interest rate contracts$(2)$7 $2 $13 Interest expense
Net Investment Hedges:
Foreign currency contracts$(17)$2 
Gain (Loss)
Recognized in Income
Derivatives Not Designated as Hedging Instruments:20252024Location of Gain (Loss) Recognized in Income
Commodity contracts$1 $— Revenues
Commodity contracts(122)77 Cost of sales
Commodity contracts(1)— Other operating expense (income), net
Foreign currency contracts(26)1 Other non-operating income (expense), net
Total$(148)$78 
Nine Months Ended June 30,:
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$12 $2 $3 $40 Interest expense
Net Investment Hedges:
Foreign currency contracts$(10)$— 
Gain (Loss)
Recognized in Income
Derivatives Not Designated as Hedging Instruments:20252024Location of Gain (Loss) Recognized in Income
Commodity contracts$(1)$1 Revenues
Commodity contracts14 (52)Cost of sales
Commodity contracts(2)2 Other operating expense (income), net
Foreign currency contracts(10)(7)Other non-operating income (expense), net
Total$1 $(56)