XML 85 R35.htm IDEA: XBRL DOCUMENT
v2.4.0.8

STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following table summarizes all stock-based compensation expense recognized during the following fiscal years:
(Thousands) | 2013 | 2012 | 2011
Stock-based compensation expense: |  |  |
Performance shares | $ | 1,049 |  | $ | 1,276 |  | $ | 915 |
Restricted stock | 1,081 |  | 1,362 |  | 1,932 |
Compensation expense included in operation and maintenance expense | 2,130 |  | 2,638 |  | 2,847 |
Income tax benefit | (870 | ) | (1,078 | ) | (1,163 | )
Total, net of tax | $ | 1,260 |  | $ | 1,560 |  | $ | 1,684 |
Schedule of Share-based Compensation, Stock Options, Activity | The following table summarizes the stock option activity for the past three fiscal years:
| Shares | Weighted Average Exercise Price
Outstanding at September 30, 2010 | 263,128 |  |  | $27.24 |
Granted | — |  |  | — |  |
Exercised | (152,448 | ) |  | $26.86 |
Forfeited | (917 | ) |  | $18.11 |
Outstanding at September 30, 2011 | 109,763 |  |  | $27.84 |
Granted | — |  |  | — |  |
Exercised | (28,138 | ) |  | $25.30 |
Forfeited | — |  |  | — |  |
Outstanding at September 30, 2012 | 81,625 |  |  | $28.71 |
Granted | — |  |  | — |  |
Exercised | (15,000 | ) |  | $25.08 |
Forfeited | — |  |  | — |  |
Outstanding at September 30, 2013 | 66,625 |  |  | $29.53 |
Exercisable at September 30, 2013 | 66,625 |  |  | $29.53 |
Exercisable at September 30, 2012 | 81,625 |  |  | $28.71 |
Exercisable at September 30, 2011 | 109,763 |  |  | $27.84 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | The following table summarizes stock options outstanding and exercisable as of September 30, 2013:
| Outstanding and Exercisable
Exercise Price Range | Number Of Stock Options | Weighted Average Remaining Contractual Term (in years) | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands)
$25.12 - $28.65 | 17,250 |  | 1.2 | $27.75 |  | $ | 479 |  |
$28.66 - $30.37 | 49,375 |  | 1.6 | $30.15 |  | $ | 1,489 |  |
Total | 66,625 |  | 1.5 | $29.53 |  | $ | 1,968 |  |
Schedule of Nonvested Share Activity | The following table summarizes the performance share activity under the NJR 2007 Stock Award and Incentive Plan for the past three fiscal years:
| Shares (1) | Weighted Average Grant Date Fair Value
Non-vested and outstanding at September 30, 2010 | 50,475 |  |  | $31.07 |
Granted | 56,325 |  |  | $26.24 |
Vested | — |  |  | — |  |
Cancelled/forfeited | (773 | ) |  | $29.74 |
Non-vested and outstanding at September 30, 2011 | 106,027 |  |  | $28.04 |
Granted | 28,418 |  |  | $47.17 |
Vested (2) | (49,702 | ) |  | $30.08 |
Cancelled/forfeited | — |  |  | — |  |
Non-vested and outstanding at September 30, 2012 | 84,743 |  |  | $33.26 |
Granted | 49,904 |  |  | $30.74 |
Vested | — |  |  | — |  |
Cancelled/forfeited (3) | (56,325 | ) |  | $26.24 |
Non-vested and outstanding at September 30, 2013 | 78,322 |  |  | $36.70 |
(1) | The number of common shares issued related to performance shares may range from zero to 150 percent of the number of shares shown in the table above based on the Company's achievement of performance goals associated with NJR total shareowner return relative to a selected peer group of companies.
(2) | As certified by the Company's Leadership and Compensation Committee on November 13, 2012, the number of common shares related to performance shares and market condition shares earned was 68.8 percent , or 15,427 shares and 70 percent, or 19,095 shares, respectively. The number represented on this line is the target number of 100 percent. See footnote (1) above.
(3) | As certified by the Company's Leadership and Compensation Committee on November 12, 2013, the number of common shares granted in fiscal 2011 related to performance shares and market condition shares earned was zero percent. The number represented on this line is the target number of 100 percent. See footnote (1) above.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following table summarizes the restricted stock activity under the NJR 2007 Stock Award and Incentive Plan for the past three fiscal years:
| Shares |  | Weighted Average Grant Date Fair Value | Total Fair Value of Vested Shares (in Thousands)
Non-vested and outstanding at September 30, 2010 | 56,365 |  |  | $33.40 |  |  | — |  |
Granted | 62,149 |  |  | $40.74 |  |  | — |  |
Vested | (41,201 | ) |  | $(32.29) |  |  | $ | 1,723 |  |
Cancelled/forfeited | (216 | ) |  | $(36.42) |  |  | — |  |
Non-vested and outstanding at September 30, 2011 | 77,097 |  |  | $39.90 |  |  | — |  |
Granted | 51,100 |  |  | $47.17 |  |  | — |  |
Vested (1) | (68,851 | ) |  | $(44.86) |  |  | $ | 3,198 |  |
Cancelled/forfeited | — |  |  | — |  |  |  | — |  |
Non-vested and outstanding at September 30, 2012 | 59,346 |  |  | $40.40 |  |  |  |
Granted | 69,434 |  |  | $40.62 |  |  |  |
Vested (1) | (86,975 | ) |  | $(40.28) |  |  | $ | 3,622 |  |
Cancelled/forfeited | (2,550 | ) |  | $(40.74) |  |  |  |
Non-vested and outstanding at September 30, 2013 | 39,255 |  |  | $41.05 |  |  |  |
(1) | A total of 4,673 previously granted and vested deferred restricted shares were forfeited prior to distribution due to non compliance with the terms of the agreement.

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

X
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration