Company: ATO
Filing Date: 2025-11-14
Form Type: 10-K
Source: 0000731802-25-000056
Chunk: 120

Company: ATMOS ENERGY CORP
Filing Date: 2025-11-14
Form: 10-K
Item: Item 8
Chunk 120
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9, we adopted a new defined benefit Supplemental Executive Retirement Plan (the 2009 SERP), for corporate officers or any other employees selected at the discretion of the Board. Under the 2009 SERP, a nominal account has been established for each participant, to which the Company contributes at the end of each calendar year an amount equal to ten percent (25 percent for members of the Management Committee appointed on or after January 1, 2016) of the total of each participant’s base salary and cash incentive compensation earned during each prior calendar year, beginning December 31, 2009. The benefits vest after three years of service and attainment of age 55 and earn interest credits at the same annual rate as the Company’s Pension Plan.During fiscal 2024, we recognized settlement charges of $1.5 million and paid $9.6 million in lump sums in relation to the retirement of certain executives.  During fiscal 2023, we recognized a settlement charge of $1.0 million and paid a $5.6 million lump sum in relation to the retirements of certain executives.We review the estimates and assumptions underlying our Supplemental Plans annually based upon a September 30 measurement date using the same techniques as our Pension Plan. The actuarial assumptions used to determine the pension liability for the Supplemental Plans were determined as of September 30, 2025 and 2024 and the actuarial assumptions used to determine the net periodic pension cost for the Supplemental Plans were determined as of September 30, 2024, 2023, and 2022. These assumptions are presented in the following table: PensionLiabilityPension Cost 20252024202520242023Discount rate (1)5.14 %4.92 %4.92 %5.85 %5.50 %Rate of compensation increase3.50 %3.50 %3.50 %3.50 %3.50 %Interest crediting rate (2)4.69 %4.69 %4.69 %4.69 %4.69 % (1)    Reflects a weighted average discount rate for pension cost for fiscal 2024 and 2023 due to the settlements during the year. (2)    The interest crediting rate assumption for the development of the fiscal 2025 pension liability is 4.73% for calendar year 2026, then