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DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
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Jun. 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 Unaudited Condensed Consolidated Balance Sheets as of:
|  |  | Fair Value
|  |  | June 30, 2013 |  | September 30, 2012
(Thousands) | Balance Sheet Location | Asset Derivatives | Liability Derivatives | Asset Derivatives | Liability Derivatives
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
NJRES: |  |  |  |  |  |  |  |  |
Foreign currency contracts | Derivatives - current |  | $ | 51 |  |  | $ | 17 |  |  | $ | 116 |  |  | $ | 97 |
| Derivatives - noncurrent |  | — |  |  | 23 |  |  | 70 |  |  | 15 |
Fair value of derivatives designated as hedging instruments |  | $ | 51 |  |  | $ | 40 |  |  | $ | 186 |  |  | $ | 112 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
NJNG: |  |  |  |  |  |  |  |  |
Financial derivative contracts | Derivatives - current |  | $ | 4,496 |  |  | $ | 3,305 |  |  | $ | 6,203 |  |  | $ | 5,034 |
| Derivatives - noncurrent |  | — |  |  | 386 |  |  | 1,000 |  |  | — |
NJRES: |  |  |  |  |  |  |  |  |
Physical forward commodity contracts | Derivatives - current |  | 8,296 |  |  | 10,119 |  |  | 19,590 |  |  | 9,530 |
| Derivatives - noncurrent |  | 320 |  |  | 16 |  |  | 658 |  |  | 216 |
Financial derivative contracts | Derivatives - current |  | 52,635 |  |  | 22,770 |  |  | 22,112 |  |  | 27,779 |
| Derivatives - noncurrent |  | 1,400 |  |  | 3,691 |  |  | 600 |  |  | 2,902 |
Fair value of derivatives not designated as hedging instruments |  | $ | 67,147 |  |  | $ | 40,287 |  |  | $ | 50,163 |  |  | $ | 45,461 |
Total fair value of derivatives |  |  | $ | 67,198 |  |  | $ | 40,327 |  |  | $ | 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 Unaudited Condensed Consolidated Statements of Operations as of:
(Thousands) | Location of gain (loss) recognized in income on derivatives | Amount of gain (loss) recognized in income on derivatives
|  | Three Months Ended | Nine Months Ended
|  | June 30, | June 30,
Derivatives not designated as hedging instruments: | 2013 |  | 2012 | 2013 |  | 2012
NJRES: |  |  |  |  |  |  |
Physical commodity contracts | Operating revenues | $ | 3,595 |  |  | $ | (2,860 | ) | $ | (4,264 | ) |  | $ | (6,023 | )
Physical commodity contracts | Gas purchases | (8,809 | ) |  | 8,155 |  | (6,253 | ) |  | 12,546 |
Financial derivative contracts | Gas purchases | 39,601 |  |  | (9,717 | ) | 38,134 |  |  | 93,248 |
Total unrealized and realized gains (losses) | $ | 34,387 |  |  | $ | (4,422 | ) | $ | 27,617 |  |  | $ | 99,771 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following tables reflect the effect of derivative instruments designated as cash flow hedges on OCI as of:
(Thousands) | Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) | 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)
| Three Months Ended | Three Months Ended | Three Months Ended
| June 30, | June 30, | June 30,
Derivatives in cash flow hedging relationships: | 2013 | 2012 | 2013 | 2012 | 2013 | 2012
Foreign currency contracts | $ | (14 | ) | $ | 12 |  | $ | (21 | ) | $ | (35 | ) | $ | — |  | $ | — |
(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)
| Nine Months Ended | Nine Months Ended | Nine Months Ended
| June 30, | June 30, | June 30,
Derivatives in cash flow hedging relationships: | 2013 | 2012 | 2013 | 2012 | 2013 | 2012
Foreign currency contracts | $ | (85 | ) | $ | (63 | ) | $ | 23 |  | $ | (70 | ) | $ | — |  | $ | — |
(1) | The settlement of foreign currency transactions over the next twelve months is expected to result in the reclassification of $33,000 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:
|  |  | Volume (Bcf)
|  |  | June 30, 2013 | September 30, 2012
NJNG | Futures |  | 17.0 |  | 16.1 |
| Swaps | (1) | — |  | 3.4 |
| Options |  | 0.7 |  | — |
NJRES | Futures |  | (50.2 | ) | (28.6 | )
| Swaps | (1) | — |  | 13.2 |
| Options |  | — |  | 4.4 |
| Physical |  | 22.1 |  | (3.5 | )
(1) | In October 2012, following the implementation of th e Dodd-Frank Wall Street Reform and Consumer Protection Act, the Intercontinental Exchange (ICE) converted its cleared energy “swap” contracts to “futures” contracts an d the New York Mercantile Exchange (NYMEX) amended their p roduct 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 by company, are as follows:
(Thousands) | Balance Sheet Location | June 30, 2013 | September 30, 2012
NJNG | Broker margin - Current assets | $ | 1,350 |  | $ | 1,713 |
NJRES | Broker margin - Current assets | $ | — |  | $ | 20,216 |
NJRES | Broker margin - Current liabilities | $ | 6,181 |  | $ | — |
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 |  | $ | 199,972 |  |
Noninvestment grade |  | 5,679 |  |
Internally rated investment grade |  | 34,692 |  |
Internally rated noninvestment grade |  | 4,461 |  |
Total |  | $ | 244,804 |  |

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- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -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. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -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. Reference 3: 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 Reference 4: 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 + Details
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- 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 Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -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. Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -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
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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Audit and Accounting Guide (AAG) -Number AAG-BRD -Paragraph 24 -IssueDate 2006-05-01 -Chapter 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
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- 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 20 -URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6404-108592 Reference 2: 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 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=7491637&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=7491637&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 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 94-6 -Paragraph 21, 22, 23, 24, 25 -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
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