XML 62 R14.htm IDEA: XBRL DOCUMENT
v2.4.0.6

DEBT | 6 Months Ended
--- | ---
Mar. 31, 2013
Debt Disclosure [Abstract] |
DEBT | DEBT NJR and NJNG finance working capital requirements and capital expenditures through the issuance of various long-term debt and other financing arrangements, including unsecured credit and private placement debt shelf facilities. Amounts available under credit facilities are reduced by bank or commercial paper borrowings, as applicable, and any outstanding letters of credit. Neither NJNG nor the results of its operations are obligated or pledged to support the NJR credit or debt shelf facilities. A summary of NJR's and NJNG's debt shelf and credit facilities are as follows:
(Thousands) | March 31, 2013 |  | September 30, 2012 |  | Maturity Dates
NJNG |  |  |  |  |
Bank credit facility dedicated to EDA Bonds (1) (2) | $ | 100,000 |  |  | $ | 100,000 |  |  | August 2015
Bank credit facilities (1) | $ | 250,000 |  |  | $ | 200,000 |  |  | August 2014
Amount outstanding at end of period | $ | 107,500 |  |  | $ | 135,000 |  |  |
Weighted average interest rate at end of period | 0.17 | % |  | 0.18 | % |  |
Amount available at end of period | $ | 142,500 |  |  | $ | 65,000 |  |  |
NJR |  |  |  |  |
Debt shelf facilities (3) (4) | $ | 175,000 |  |  | $ | 175,000 |  |  | Various
Amount outstanding at end of period | $ | 100,000 |  |  | $ | 100,000 |  |  |
Weighted average interest rate at end of period | 2.74 | % |  | 2.74 | % |  |
Amount available at end of period | $ | 75,000 |  |  | $ | 75,000 |  |  |
Bank credit facilities (1) | $ | 325,000 |  |  | $ | 325,000 |  |  | August 2017
Amount outstanding at end of period | $ | 180,600 |  |  | $ | 144,800 |  |  |
Weighted average interest rate at end of period | 1.15 | % |  | 1.16 | % |  |
Amount available at end of period (5) | $ | 125,510 |  |  | $ | 166,339 |  |  |
(1) | Committed credit facilities, which require commitment fees on the unused amounts.
(2) | There were no borrowings outstanding as of March 31, 2013 and September 30, 2012, respectively.
(3) | Uncommitted, long-term debt shelf facilities, which require no commitment fees on the unused amounts.
(4) | NJR's ability to issue debt under the $100 million and $75 million debt shelf facilities expires May 2013 and June 2014, respectively.
(5) | Letters of credit outstanding total $18.9 million and $13.9 million as of March 31, 2013 and September 30, 2012, respectively, which reduces amount available.
NJNG NJNG received $7.1 million and $6.5 million in December 2012 and 2011, respectively, in connection with the sale-leaseback of its natural gas meters. NJNG records a capital lease obligation that is paid over the term of the lease and has the option to purchase the meters back at fair value upon expiration of the lease. On October 4, 2012, the BPU approved a petition filed by NJNG requesting authorization over a three-year period to issue medium-term debt with a maturity of not more than 30 years, renew its revolving credit facility expiring August 2014, renew its credit facility supporting NJNG's obligations with respect to bonds issued by the New Jersey Economic Development Authority, enter into interest rate risk management transactions and increase the size of its meter leasing program on a permanent basis. On November 30, 2012, NJNG utilized the accordion option available under its committed revolving syndicated credit facility to increase the amount of credit available from $200 million to $250 million. On April 15, 2013, NJNG issued $50 million of 3.15 percent senior secured notes due April 15, 2028 (Notes) in the private placement market pursuant to a note purchase agreement entered into on February 8, 2013. Interest is payable on the Notes semi-annually. The proceeds from the Notes were used to refinance short-term debt and will fund capital expenditure requirements.

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

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration