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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
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
 
 
—