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10-K 1 ato2015093010-k.htm FORM 10-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

(Mark One)

þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended September 30, 2015

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-10042

Atmos Energy Corporation

(Exact name of registrant as specified in its charter)

Texas and Virginia 75-1743247

(State or other jurisdiction of (IRS employer

incorporation or organization) identification no.)

Three Lincoln Centre, Suite 1800

5430 LBJ Freeway, Dallas, Texas 75240

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code:

(972) 934-9227

Securities registered pursuant to Section 12(b) of the Act:

Name of Each Exchange

Title of Each Class on Which Registered

Common stock, No Par Value New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No þ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.45) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer þ Accelerated filer ¨ Non-accelerated filer ¨ Smaller reporting company ¨

(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ¨ No þ

The aggregate market value of the common voting stock held by non-affiliates of the registrant as of the last business day of the registrant’s most recently completed second fiscal quarter, March 31, 2015, was $5,500,632,050.

As of October 30, 2015, the registrant had 101,506,645 shares of common stock outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s Definitive Proxy Statement to be filed for the Annual Meeting of Shareholders on February 3, 2016 are incorporated by reference into Part III of this report.

TABLE OF CONTENTS

Page
Glossary of Key Terms3
Part I
Item 1.Business4
Item 1A.Risk Factors13
Item 1B.Unresolved Staff Comments17
Item 2.Properties17
Item 3.Legal Proceedings19
Item 4.Mine Safety Disclosures19
Part II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities19
Item 6.Selected Financial Data21
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations22
Item 7A.Quantitative and Qualitative Disclosures About Market Risk41
Item 8.Financial Statements and Supplementary Data43
Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure97
Item 9A.Controls and Procedures97
Item 9B.Other Information99
Part III
Item 10.Directors, Executive Officers and Corporate Governance99
Item 11.Executive Compensation100
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters100
Item 13.Certain Relationships and Related Transactions, and Director Independence100
Item 14.Principal Accountant Fees and Services100
Part IV
Item 15.Exhibits and Financial Statement Schedules100

GLOSSARY OF KEY TERMS

AECAtmos Energy Corporation
AEHAtmos Energy Holdings, Inc.
AEMAtmos Energy Marketing, LLC
AOCIAccumulated Other Comprehensive Income
APSAtmos Pipeline and Storage, LLC
ATOTrading symbol for Atmos Energy Corporation common stock on the New York Stock Exchange
BcfBillion cubic feet
CFTCCommodity Futures Trading Commission
COSOCommittee of Sponsoring Organizations of the Treadway Commission
ERISAEmployee Retirement Income Security Act of 1974
FASBFinancial Accounting Standards Board
FERCFederal Energy Regulatory Commission
FitchFitch Ratings, Ltd.
GAAPGenerally Accepted Accounting Principles
GRIPGas Reliability Infrastructure Program
GSRSGas System Reliability Surcharge
KPSCKentucky Public Service Commission
LTIP1998 Long-Term Incentive Plan
McfThousand cubic feet
MDWQMaximum daily withdrawal quantity
Mid-Tex CitiesRepresents all incorporated cities other than Dallas, or approximately 80 percent of the Mid-Tex Division’s customers, with whom a settlement agreement was reached during the fiscal 2008 second quarter.
MMcfMillion cubic feet
Moody’sMoody’s Investor Service, Inc.
NYMEXNew York Mercantile Exchange, Inc.
NYSENew York Stock Exchange
PAPPension Account Plan
PPAPension Protection Act of 2006
RRCRailroad Commission of Texas
RRMRate Review Mechanism
RSCRate Stabilization Clause
S&PStandard & Poor’s Corporation
SECUnited States Securities and Exchange Commission
SRFStable Rate Filing
WNAWeather Normalization Adjustment

PART I

The terms “we,” “our,” “us”, “Atmos Energy” and the “Company” refer to Atmos Energy Corporation and its subsidiaries, unless the context suggests otherwise.

Next: Item 1. Business.