Company: ATO
Filing Date: 2025-11-14
Form Type: 10-K
Source: 0000731802-25-000056
Chunk: 116

Company: ATMOS ENERGY CORP
Filing Date: 2025-11-14
Form: 10-K
Item: Item 8
Chunk 116
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, interests in commingled pension trust funds, other investment assets, and cash and cash equivalents. Investments in equity securities are diversified among the market’s various subsectors in an effort to diversify risk and maximize returns. Fixed income securities are invested in investment grade securities. Cash equivalents are invested in securities that either are short term (less than 180 days) or readily convertible to cash with modest risk.The following table presents asset allocation information for the Master Trust as of September 30, 2025 and 2024. TargetedAllocation  RangeActualAllocationSeptember 30Security Class20252024Domestic equities35%-55%43.6%42.8%International equities10%-20%15.5%15.8%Fixed income5%-45%24.3%22.3%Company stock0%-15%14.0%16.7%Other assets0%-20%2.6%2.4%At September 30, 2025 and 2024, the Pension Plan held 506,700 and 716,700 shares of our common stock which represented 14.0 percent and 16.7 percent of total Pension Plan assets. These shares generated dividend income for the Pension Plan of approximately $1.9 million and $2.3 million during fiscal 2025 and 2024.Our Pension Plan expenses and liabilities are determined on an actuarial basis and are affected by numerous assumptions and estimates including the market value of plan assets, estimates of the expected return on plan assets, and assumed discount rates and demographic data. We review the estimates and assumptions underlying our Pension Plan annually based upon a September 30 measurement date. The development of our assumptions is fully described in our significant accounting policies in Note 2 to the consolidated financial statements. The actuarial assumptions used to determine the pension asset for the Pension Plan was determined as of September 30, 2025 and 2024 and the actuarial assumptions used to determine the net periodic pension cost for the Pension Plan was determined as of September 30, 2024, 2023, and 2022. Additional assumptions are presented in the following table: PensionAssetPension Cost 20252024202520242023Discount rate5.45 %5.02 %5.02 %6.10 %5.66 %Rate of compensation increase3.50 %3.50 %3.50 %3.50 %3.