v3.26.1
Capitalization
 6 Months Ended
Mar. 31, 2026
Capitalization, Long-Term Debt and Equity [Abstract]  
Capitalization Capitalization
Summary of Changes in Common Stock Equity
 Common StockPaid In
Capital		Earnings
Reinvested
in the
Business		Accumulated
Other
Comprehensive
Income (Loss)
SharesAmount
 (Thousands)
Balance at January 1, 202695,017 $95,017 $1,382,593 $2,143,340 $(32,990)
Net Income Available for Common Stock247,668 
Dividends Declared on Common Stock ($0.535 Per Share)
(50,840)
Other Comprehensive Income, Net of Tax34,101 
Share-Based Payment Expense (1)
5,118 
Common Stock Issued from Sale of Common Stock— — (172)
Common Stock Issued Under Stock and Benefit Plans10 10 654 
Balance at March 31, 202695,027 $95,027 $1,388,193 $2,340,168 $1,111 
Balance at October 1, 202590,379 $90,379 $1,050,918 $2,012,529 $(59,222)
Net Income Available for Common Stock429,313 
Dividends Declared on Common Stock ($1.07 Per Share)
(101,674)
Other Comprehensive Income, Net of Tax60,333 
Share-Based Payment Expense (1)
8,545 
Common Stock Issued from Sale of Common Stock4,403 4,403 334,000 
Common Stock Issued (Repurchased) Under Stock and Benefit Plans245 245 (5,270)
Balance at March 31, 202695,027 $95,027 $1,388,193 $2,340,168 $1,111 
Balance at January 1, 202590,613 $90,613 $1,039,705 $1,698,648 $(76,153)
Net Income Available for Common Stock216,358 
Dividends Declared on Common Stock ($0.515 Per Share)
(46,555)
Other Comprehensive Loss, Net of Tax(146,822)
Share-Based Payment Expense (1)
5,135 
Common Stock Issued Under Stock and Benefit Plans11 11 604 
Share Repurchases Under Repurchase Plan(226)(226)(2,622)(13,085)
Balance at March 31, 202590,398 $90,398 $1,042,822 $1,855,366 $(222,975)
Balance at October 1, 202491,006 $91,006 $1,045,487 $1,727,326 $(15,476)
Net Income Available for Common Stock261,344 
Dividends Declared on Common Stock ($1.03 Per Share)
(93,226)
Other Comprehensive Loss, Net of Tax(207,499)
Share-Based Payment Expense (1)
9,225 
Common Stock Issued (Repurchased) Under Stock and Benefit Plans
167 167 (2,906)
Share Repurchases Under Repurchase Plan(775)(775)(8,984)(40,078)
Balance at March 31, 202590,398 $90,398 $1,042,822 $1,855,366 $(222,975)

(1)Paid in Capital includes compensation costs associated with performance shares and/or restricted stock awards. The expense is included within Net Income Available For Common Stock, net of tax benefits.
Common Stock.  Common stock share activity during the six months ended March 31, 2026 consisted of the following items:
Six Months Ended March 31, 2026
Vesting of Restricted Stock Units140,395 
Vesting of Performance Shares167,241 
Issuance of Common Stock Pursuant to the Company's Non-Employee Director Equity
Compensation Plan and Deferred Compensation Plan for Directors and Officers
16,353 
Shares Tendered to Pay Withholding Taxes on Stock-Based Compensation Awards (1)
(78,150)
Common Stock Issued Under Stock and Benefit Plans245,839 
Common Stock Issued from Sale of Common Stock4,402,513 
Total Common Stock Issued During the Six Months Ended March 31, 20264,648,352 
(1)    The Company considers all shares tendered as cancelled shares restored to the status of authorized but unissued shares, in accordance with New Jersey law.

    On December 17, 2025, the Company completed the issuance and sale, in a private placement, of 4,402,513 shares of the Company's common stock, par value $1.00 per share, at a price of $79.50 per share. After deducting placement fees, the net proceeds to the Company amounted to $338.4 million. Refer to Note 2 – Pending Acquisition for further discussion.

Short-Term Borrowings. On March 27, 2026, the Company entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with PNC Bank, National Association, as administrative agent and lender, and 12 additional lenders. The Credit Agreement provides a $1.3 billion unsecured committed revolving credit facility with an initial maturity date of March 27, 2031. The Credit Agreement amended and restated that certain credit agreement, dated as of February 28, 2022, among the Company, JPMorgan Chase Bank, N. A., as administrative agent, and the lenders party thereto.

Delayed Draw Term Loan. On February 14, 2024, the Company entered into a Term Loan Agreement (the “Term Loan Agreement”) with six lenders, all of which were then lenders under the Company's prior primary revolving credit agreement. The Term Loan Agreement provided a $300.0 million unsecured committed delayed draw term loan facility with a maturity date of February 14, 2026, and the Company had the ability to select interest periods of one, three or six months for borrowings. Borrowings under the Term Loan Agreement bore interest at a rate equal to SOFR for the applicable interest period, plus an adjustment of 0.10%, plus a spread of 1.375%. On January 22, 2026, the Company repaid all outstanding obligations under the Term Loan Agreement, and the agreement was terminated.
 
Current Portion of Long-Term Debt. The Current Portion of Long-Term Debt at March 31, 2026 consisted of $300.0 million of 5.50% notes with a maturity date in October 2026. The Current Portion of Long-Term Debt at September 30, 2025 consisted of a $300.0 million long-term delayed draw term loan with a maturity date in February 2026 that was repaid in January 2026.