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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Sep. 30, 2014
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) | 2014 | 2013 | 2012
Stock-based compensation expense: |  |  |
Performance share awards | $ | 2,509 |  | $ | 1,049 |  | $ | 1,276 |
Restricted and non-restricted stock | 1,664 |  | 1,081 |  | 1,362 |
Deferred retention stock | 13,643 |  | 1,326 |  | 2,733 |
Compensation expense included in operation and maintenance expense | 17,816 |  | 3,456 |  | 5,371 |
Income tax benefit | (7,278 | ) | (1,412 | ) | (2,194 | )
Total, net of tax | $ | 10,538 |  | $ | 2,044 |  | $ | 3,177 |
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, 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 |
Granted | — |  |  | — |  |
Exercised | (42,500 | ) |  | $26.26 |
Forfeited | — |  |  | — |  |
Outstanding at September 30, 2014 | 24,125 |  |  | $30.00 |
Exercisable at September 30, 2014 | 24,125 |  |  | $30.00 |
Exercisable at September 30, 2013 | 66,625 |  |  | $29.53 |
Exercisable at September 30, 2012 | 81,625 |  |  | $28.71 |
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, 2014:
| 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)
$28.65 - $30.37 | 24,125 |  | 0.6 | $30.00 |  | $ | 495 |  |
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, 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 |
Granted | 73,864 |  |  | $40.55 |
Vested (4) | (28,418 | ) |  | 47.17 |  |
Cancelled/forfeited | — |  |  | — |  |
Non-vested and outstanding at September 30, 2014 | 123,768 |  |  | $36.59 |
(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.
(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. The number represented on this line is the target number of 100 percent. See footnote (1) above.
(4) | As certified by the Company's Leadership and Compensation Committee on November 11, 2014, the number of common shares related to performance shares earned was 150 percent, or 42,627 shares, excluding accumulated dividends. The number represented on this line is the target number of 100 percent. See footnote (1) above.
Nonvested Restricted Stock Shares 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, 2011 | 77,097 |  |  | $39.90 |  |  | — |  |
Granted | 1,929 |  |  | $47.17 |  |  | — |  |
Vested | (19,680 | ) |  | $39.10 |  |  | $ | 879 |  |
Cancelled/forfeited | — |  |  | — |  |  |  | — |  |
Non-vested and outstanding at September 30, 2012 | 59,346 |  |  | $40.40 |  |  | — |  |
Granted | 2,139 |  |  | $40.62 |  |  | — |  |
Vested (1) | (19,680 | ) |  | $39.10 |  |  | $ | 888 |  |
Cancelled/forfeited | (2,550 | ) |  | $40.74 |  |  | — |  |
Non-vested and outstanding at September 30, 2013 | 39,255 |  |  | $41.05 |  |  | — |  |
Granted | 16,678 |  |  | $45.56 |  |  | — |  |
Vested (1) | (34,230 | ) |  | $40.74 |  |  | $ | 1,534 |  |
Cancelled/forfeited | (958 | ) |  | $40.74 |  |  | — |  |
Non-vested and outstanding at September 30, 2014 | 20,745 |  |  | $45.20 |  |  | — |  |
Schedule of Deferred Retention Stock Award | The following table summarizes the deferred retention stock award 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)
Outstanding at September 30, 2011 | 106,730 |  |  | $35.37 |  |  | — |  |
Granted/Vested | 49,171 |  |  | $47.17 |  |  | — |  |
Delivered | (103,903 | ) |  | $35.37 |  |  | $ | 4,787 |  |
Forfeited | (2,827 | ) |  | 35.37 |  |  |  | — |  |
Outstanding at September 30, 2012 | 49,171 |  |  | $47.17 |  |  | — |  |
Granted/Vested | 67,295 |  |  | $40.62 |  |  | — |  |
Delivered | — |  |  | — |  |  |  | — |  |
Forfeited | (4,673 | ) |  | $43.44 |  |  | — |  |
Outstanding at September 30, 2013 | 111,793 |  |  | $43.38 |  |  | — |  |
Granted/Vested | 28,985 |  |  | $45.75 |  |  | — |  |
Delivered | — |  |  | — |  |  |  | — |  |
Forfeited | (2,387 | ) |  | $42.94 |  |  | — |  |
Outstanding at September 30, 2014 | 138,391 |  |  | $43.89 |  |  | — |  |

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