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BUSINESS SEGMENT AND OTHER OPERATIONS DATA (Tables) | 12 Months Ended
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Sep. 30, 2013
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Information related to the Company's various business segments and other operations is detailed below:
(Thousands) |  |  |
Fiscal Years Ended September 30, | 2013 | 2012 | 2011
Operating revenues |  |  |
Natural Gas Distribution |  |  |
External customers | $ | 787,987 |  | $ | 627,713 |  | $ | 971,724 |
Clean Energy Ventures |  |  |
External customers | 11,988 |  | 2,257 |  | 862 |
Energy Services |  |  |
External customers (1) | 2,351,084 |  | 1,577,851 |  | 1,996,997 |
Intercompany | 5,494 |  | 2,760 |  | 55,306 |
Subtotal | 3,156,553 |  | 2,210,581 |  | 3,024,889 |
Retail and Other |  |  |
External customers | 47,009 |  | 41,102 |  | 39,626 |
Intercompany | 945 |  | 1,093 |  | 334 |
Eliminations | (6,439 | ) | (3,853 | ) | (55,640 | )
Total | $ | 3,198,068 |  | $ | 2,248,923 |  | $ | 3,009,209 |
Depreciation and amortization |  |  |
Natural Gas Distribution | $ | 37,999 |  | $ | 35,247 |  | $ | 33,140 |
Clean Energy Ventures | 8,477 |  | 5,680 |  | 421 |
Energy Services | 44 |  | 59 |  | 61 |
Midstream | 6 |  | 6 |  | 6 |
Subtotal | 46,526 |  | 40,992 |  | 33,628 |
Retail and Other | 786 |  | 661 |  | 742 |
Eliminations | (2 | ) | (10 | ) | — |
Total | $ | 47,310 |  | $ | 41,643 |  | $ | 34,370 |
Interest income (2) |  |  |
Natural Gas Distribution | $ | 653 |  | $ | 889 |  | $ | 1,133 |
Energy Services | 1 |  | 37 |  | 9 |
Midstream | 1,065 |  | 1,098 |  | 901 |
Subtotal | 1,719 |  | 2,024 |  | 2,043 |
Retail and Other | 2 |  | 3 |  | 43 |
Eliminations | (884 | ) | (1,001 | ) | (870 | )
Total | $ | 837 |  | $ | 1,026 |  | $ | 1,216 |
(1) | Includes sales to Canada, which accounted for 5.9 percent, 6.6 percent and 6.1 percent of total operating revenues during fiscal 2013, 2012 and 2011, respectively.
(2) | Included in other income on the Consolidated Statement of Operations.
(Thousands) |  |  |
Fiscal Years Ended September 30, | 2013 | 2012 | 2011
Interest expense, net of capitalized interest |  |  |
Natural Gas Distribution | $ | 14,995 |  | $ | 14,890 |  | $ | 14,875 |
Clean Energy Ventures | 3,387 |  | 854 |  | 84 |
Energy Services | 2,534 |  | 1,096 |  | 995 |
Midstream | 1,962 |  | 2,665 |  | 3,165 |
Subtotal | 22,878 |  | 19,505 |  | 19,119 |
Retail and Other | 1,101 |  | 1,339 |  | 504 |
Total | $ | 23,979 |  | $ | 20,844 |  | $ | 19,623 |
Income tax provision (benefit) |  |  |
Natural Gas Distribution | $ | 35,399 |  | $ | 38,135 |  | $ | 40,322 |
Clean Energy Ventures | (17,711 | ) | (32,507 | ) | (11,604 | )
Energy Services | 10,516 |  | (4,950 | ) | 3,281 |
Midstream | 4,993 |  | 4,978 |  | 4,702 |
Subtotal | 33,197 |  | 5,656 |  | 36,701 |
Retail and Other | 2,550 |  | 2,178 |  | 1,033 |
Eliminations | (172 | ) | (105 | ) | (69 | )
Total | $ | 35,575 |  | $ | 7,729 |  | $ | 37,665 |
Equity in earnings of affiliates |  |  |
Midstream | $ | 13,868 |  | $ | 14,308 |  | $ | 14,904 |
Eliminations | (3,519 | ) | (3,674 | ) | (3,065 | )
Total | $ | 10,349 |  | $ | 10,634 |  | $ | 11,839 |
Net financial earnings |  |  |
Natural Gas Distribution | $ | 73,846 |  | $ | 73,238 |  | $ | 71,322 |
Clean Energy Ventures | 10,060 |  | 19,452 |  | 6,761 |
Energy Services | 19,311 |  | 10,791 |  | 18,583 |
Midstream | 7,199 |  | 6,749 |  | 6,780 |
Subtotal | 110,416 |  | 110,230 |  | 103,446 |
Retail and Other | 3,292 |  | 2,366 |  | 3,087 |
Eliminations | (27 | ) | (179 | ) | — |
Total | $ | 113,681 |  | $ | 112,417 |  | $ | 106,533 |
Capital expenditures |  |  |
Natural Gas Distribution | $ | 137,083 |  | $ | 116,455 |  | $ | 101,993 |
Clean Energy Ventures | 59,125 |  | 89,726 |  | 71,989 |
Subtotal | 196,208 |  | 206,181 |  | 173,982 |
Retail and Other | 1,042 |  | 1,334 |  | 3,549 |
Total | $ | 197,250 |  | $ | 207,515 |  | $ | 177,531 |
Investments in equity investees |  |  |
Clean Energy Ventures | $ | — |  | $ | 8,800 |  | $ | — |
Total | $ | — |  | $ | 8,800 |  | $ | — |
Reconciliation of Consolidated Net Financial Earnings to Consolidated Net Income | A reconciliation of consolidated NFE to consolidated net income is as follows:
(Thousands) | 2013 | 2012 | 2011
Consolidated net financial earnings | $ | 113,681 |  | $ | 112,417 |  | $ | 106,533 |
Less: |  |  |
Unrealized (gain) loss from derivative instruments and related transactions, net of taxes (1) (2) | (5,956 | ) | 22,631 |  | 23,320 |
Effects of economic hedging related to natural gas inventory, net of taxes (3) | 4,828 |  | (3,093 | ) | (18,086 | )
Consolidated net income | $ | 114,809 |  | $ | 92,879 |  | $ | 101,299 |
(1) | Excludes unrealized losses related to an intercompany transaction between NJNG and NJRES that have been eliminated in consolidation of approximately $286,000, $142,000 and $130,000 for the fiscal years ended September 30, 2013, 2012 and 2011, respectively.
(2) | Amounts are net of taxes of approximately $(3.8) million, $13 million, and $13.4 million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively.
(3) | Amounts are net of taxes of approximately $2.8 million, $(1.8) million and $(10.5) million for the fiscal years ended September 30, 2013, 2012 and 2011, respectively.
Reconciliation of Assets from Segment to Consolidated | The Company's assets for the various business segments and business operations are detailed below:
(Thousands) | 2013 | 2012 | 2011
Assets at end of period |  |  |
Natural Gas Distribution | $ | 2,094,940 |  | $ | 2,005,520 |  | $ | 1,942,691 |
Clean Energy Ventures | 253,663 |  | 223,247 |  | 80,234 |
Energy Services | 468,096 |  | 347,406 |  | 400,882 |
Midstream | 153,536 |  | 157,779 |  | 159,940 |
Subtotal | 2,970,235 |  | 2,733,952 |  | 2,583,747 |
Retail and Other | 85,293 |  | 73,298 |  | 87,066 |
Intercompany assets (1) | (50,745 | ) | (37,245 | ) | (21,369 | )
Total | $ | 3,004,783 |  | $ | 2,770,005 |  | $ | 2,649,444 |
(1) | Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

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