XML 90 R30.htm IDEA: XBRL DOCUMENT
v2.4.0.8

DERIVATIVE INSTRUMENTS (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table reflects the fair value of NJR's derivative assets and liabilities recognized on the Consolidated Balance Sheets as of September 30:
|  |  | Fair Value
|  |  | 2013 |  | 2012
(Thousands) | Balance Sheet Location | Asset Derivatives | Liability Derivatives | Asset Derivatives | Liability Derivatives
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
NJRES: |  |  |  |  |  |  |  |  |
Foreign currency contracts | Derivatives - current |  | $ | 16 |  |  | $ | 3 |  |  | $ | 116 |  |  | $ | 97 |
| Derivatives - noncurrent |  | — |  |  | 2 |  |  | 70 |  |  | 15 |
Fair value of derivatives designated as hedging instruments |  | $ | 16 |  |  | $ | 5 |  |  | $ | 186 |  |  | $ | 112 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
NJNG: |  |  |  |  |  |  |  |  |
Financial commodity contracts | Derivatives - current |  | $ | 3,502 |  |  | $ | 2,045 |  |  | $ | 6,203 |  |  | $ | 5,034 |
| Derivatives - noncurrent |  | 121 |  |  | 140 |  |  | 1,000 |  |  | — |
NJRES: |  |  |  |  |  |  |  |  |
Physical forward commodity contracts | Derivatives - current |  | 11,282 |  |  | 14,573 |  |  | 19,590 |  |  | 9,530 |
| Derivatives - noncurrent |  | 541 |  |  | 22 |  |  | 658 |  |  | 216 |
Financial commodity contracts | Derivatives - current |  | 38,527 |  |  | 23,769 |  |  | 22,112 |  |  | 27,779 |
| Derivatives - noncurrent |  | 2,099 |  |  | 2,294 |  |  | 600 |  |  | 2,902 |
Fair value of derivatives not designated as hedging instruments |  | $ | 56,072 |  |  | $ | 42,843 |  |  | $ | 50,163 |  |  | $ | 45,461 |
Total fair value of derivatives |  |  | $ | 56,088 |  |  | $ | 42,848 |  |  | $ | 50,349 |  |  | $ | 45,573 |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following table reflects the effect of derivative instruments on the Consolidated Statements of Operations as of September 30:
(Thousands) | Location of gain (loss) recognized in income on derivatives | Amount of gain (loss) recognized in income on derivatives
Derivatives not designated as hedging instruments: | 2013 |  | 2012 |  | 2011
NJRES: |  |  |  |  |  |
Physical commodity contracts | Operating revenues | $ | 1,117 |  |  | $ | (7,187 | ) |  | $ | 41,538 |
Physical commodity contracts | Gas purchases | (17,194 | ) |  | 12,967 |  |  | 6,474 |
Financial commodity contracts | Gas purchases | 41,183 |  |  | 81,872 |  |  | (7,008 | )
Total unrealized and realized gains (losses) | $ | 25,106 |  |  | $ | 87,652 |  |  | $ | 41,004 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table reflects the effect of derivative instruments designated as cash flow hedges on OCI as of September 30:
(Thousands) | Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) (1) | Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion) | Amount of Gain or (Loss) Recognized on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Derivatives in cash flow hedging relationships: | 2013 | 2012 | 2013 | 2012 | 2013 | 2012
Foreign currency contracts | $ | (44 | ) | $ | (90 | ) | $ | (18 | ) | $ | (102 | ) | $ | — |  | $ | — |
(1) | The settlement of foreign currency transactions over the next 12 months is expected to result in the reclassification of $13,097 from OCI into earnings. The maximum tenor is April 2015.
Schedule of Derivative Instruments | NJNG and NJRES had the following outstanding long (short) derivatives as of September 30:
|  |  | Volume (Bcf)
|  |  | 2013 | 2012
NJNG | Futures |  | 22.6 |  | 16.1 |
| Swaps | (1) | — |  | 3.4 |
NJRES | Futures |  | (64.2 | ) | (28.6 | )
| Swaps | (1) | — |  | 13.2 |
| Options |  | 1.5 |  | 4.4 |
| Physical |  | 7.3 |  | (3.5 | )
(1) | In October 2012, following the implementation of the Dodd-Frank Act, the ICE converted its cleared energy “swap” contracts to “futures” contracts and the NYMEX amended their product titles to remove the word “swap” from the titles of their “futures” and “option” contracts.
Schedule of Due to (from) Broker-Dealers and Clearing Organizations | The Company maintains separate broker margin accounts for NJNG and NJRES. The balances as of September 30, by company, are as follows:
(Thousands) | Balance Sheet Location | 2013 | 2012
NJNG | Broker margin - Current assets | $ | 213 |  | $ | 1,713 |
NJRES | Broker margin - Current assets | $ | 6,368 |  | $ | 20,216 |
Schedules of Concentration of Risk, by Risk Factor | The amounts presented below have not been reduced by any collateral received or netting and exclude accounts receivable for NJNG retail natural gas sales and services.
(Thousands) | Gross Credit Exposure
Investment grade |  | $ | 189,852 |  |
Noninvestment grade |  | 2,947 |  |
Internally-rated investment grade |  | 25,530 |  |
Internally-rated noninvestment grade |  | 9,834 |  |
Total |  | $ | 228,163 |  |

X
- Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of amounts receivable from and payable to broker-dealers and clearing organizations, including securities failed to receive, deposits received for securities loaned, amounts payable to clearing organizations related to open transactions, floor brokerage payables and payables for commodities futures accounts liquidating to an equity balance on a broker-dealer's records. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDueToFromBrokerDealersAndClearingOrganizationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6327-108592 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13531-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6351-108592 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6442-108592 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration