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BUSINESS SEGMENT AND OTHER OPERATIONS DATA (Tables) | 6 Months Ended
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Mar. 31, 2014
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:
| Three Months Ended | Six Months Ended
| March 31, | March 31,
(Thousands) | 2014 | 2013 | 2014 | 2013
Operating revenues |  |  |  |
Natural Gas Distribution |  |  |  |
External customers | $ | 394,528 |  | $ | 351,750 |  | $ | 627,997 |  | $ | 570,599 |
Energy Services |  |  |  |
External customers (1) | 1,173,835 |  | 599,362 |  | 1,807,526 |  | 1,102,997 |
Intercompany | 67,749 |  | 4,444 |  | 71,767 |  | 4,551 |
Clean Energy Ventures |  |  |  |
External customers | 2,679 |  | 1,440 |  | 4,852 |  | 4,619 |
Subtotal | 1,638,791 |  | 956,996 |  | 2,512,142 |  | 1,682,766 |
Retail and Other |  |  |  |
External customers | 8,527 |  | 8,334 |  | 17,599 |  | 18,689 |
Intercompany | 297 |  | 186 |  | 499 |  | 449 |
Eliminations | (68,046 | ) | (4,631 | ) | (72,266 | ) | (5,000 | )
Total | $ | 1,579,569 |  | $ | 960,885 |  | $ | 2,457,974 |  | $ | 1,696,904 |
Depreciation and amortization |  |  |  |
Natural Gas Distribution | $ | 9,972 |  | $ | 9,399 |  | $ | 19,807 |  | $ | 18,676 |
Energy Services | 13 |  | 11 |  | 25 |  | 22 |
Clean Energy Ventures | 2,635 |  | 2,104 |  | 5,146 |  | 3,935 |
Midstream | 2 |  | 1 |  | 3 |  | 3 |
Subtotal | 12,622 |  | 11,515 |  | 24,981 |  | 22,636 |
Retail and Other | 208 |  | 199 |  | 415 |  | 390 |
Eliminations | (2 | ) | 7 |  | (2 | ) | (2 | )
Total | $ | 12,828 |  | $ | 11,721 |  | $ | 25,394 |  | $ | 23,024 |
Interest income (2) |  |  |  |
Natural Gas Distribution | $ | 181 |  | $ | 146 |  | $ | 442 |  | $ | 313 |
Midstream | 270 |  | 263 |  | 538 |  | 534 |
Subtotal | 451 |  | 409 |  | 980 |  | 847 |
Retail and Other | — |  | 1 |  | — |  | 2 |
Eliminations | (235 | ) | (218 | ) | (468 | ) | (450 | )
Total | $ | 216 |  | $ | 192 |  | $ | 512 |  | $ | 399 |
(1) | Includes sales to Canada, which accounted for 4 percent and 6.9 percent of total operating revenues during the six months ended March 31, 2014 and 2013, respectively.
(2) | Included in other income on the Unaudited Condensed Consolidated Statements of Operations.
| Three Months Ended | Six Months Ended
| March 31, | March 31,
(Thousands) | 2014 | 2013 | 2014 | 2013
Interest expense, net of capitalized interest |  |  |  |
Natural Gas Distribution | $ | 3,888 |  | $ | 3,549 |  | $ | 7,872 |  | $ | 7,133 |
Energy Services | 661 |  | 640 |  | 1,277 |  | 1,208 |
Clean Energy Ventures | 1,249 |  | 822 |  | 2,435 |  | 1,605 |
Midstream | 377 |  | 476 |  | 775 |  | 1,067 |
Subtotal | 6,175 |  | 5,487 |  | 12,359 |  | 11,013 |
Retail and Other | 131 |  | 259 |  | 242 |  | 558 |
Total | $ | 6,306 |  | $ | 5,746 |  | $ | 12,601 |  | $ | 11,571 |
Income tax provision (benefit) |  |  |  |
Natural Gas Distribution | $ | 23,725 |  | $ | 22,794 |  | $ | 37,908 |  | $ | 37,301 |
Energy Services | 64,345 |  | (5,203 | ) | 53,072 |  | 10,961 |
Clean Energy Ventures | (17,388 | ) | (6,457 | ) | (19,432 | ) | (14,226 | )
Midstream | 1,573 |  | 1,619 |  | 2,569 |  | 2,862 |
Subtotal | 72,255 |  | 12,753 |  | 74,117 |  | 36,898 |
Retail and Other | (1,129 | ) | (906 | ) | (1,320 | ) | (1,029 | )
Eliminations | 554 |  | 218 |  | 388 |  | 176 |
Total | $ | 71,680 |  | $ | 12,065 |  | $ | 73,185 |  | $ | 36,045 |
Equity in earnings of affiliates |  |  |  |
Midstream | $ | 4,141 |  | $ | 4,469 |  | $ | 7,083 |  | $ | 7,960 |
Eliminations | (908 | ) | (939 | ) | (1,708 | ) | (1,875 | )
Total | $ | 3,233 |  | $ | 3,530 |  | $ | 5,375 |  | $ | 6,085 |
Net financial earnings (loss) |  |  |  |
Natural Gas Distribution | $ | 47,043 |  | $ | 45,917 |  | $ | 74,682 |  | $ | 71,409 |
Energy Services | 91,407 |  | 16,368 |  | 98,781 |  | 19,382 |
Clean Energy Ventures | 12,807 |  | 5,154 |  | 16,421 |  | 10,459 |
Midstream | 2,254 |  | 2,274 |  | 3,688 |  | 4,059 |
Subtotal | 153,511 |  | 69,713 |  | 193,572 |  | 105,309 |
Retail and Other | (1,576 | ) | (1,037 | ) | (1,777 | ) | (1,131 | )
Eliminations | (15 | ) | (12 | ) | (15 | ) | (21 | )
Total | $ | 151,920 |  | $ | 68,664 |  | $ | 191,780 |  | $ | 104,157 |
Capital expenditures |  |  |  |
Natural Gas Distribution | $ | 35,484 |  | $ | 31,554 |  | $ | 70,885 |  | $ | 65,699 |
Clean Energy Ventures | 20,486 |  | 9,545 |  | 45,403 |  | 24,865 |
Subtotal | 55,970 |  | 41,099 |  | 116,288 |  | 90,564 |
Retail and Other | 272 |  | 144 |  | 477 |  | 298 |
Total | $ | 56,242 |  | $ | 41,243 |  | $ | 116,765 |  | $ | 90,862 |
Reconciliation of Consolidated Net Financial Earnings to Consolidated Net Income | A reconciliation of consolidated NFE to consolidated net income is as follows:
| Three Months Ended | Six Months Ended
| March 31, | March 31,
(Thousands) | 2014 | 2013 | 2014 | 2013
Consolidated net financial earnings | $ | 151,920 |  | $ | 68,664 |  | $ | 191,780 |  | $ | 104,157 |
Less: |  |  |  |
Unrealized (gain) loss from derivative instruments and related transactions (1) | (13,256 | ) | 38,800 |  | 52,395 |  | 20,466 |
Effects of economic hedging related to natural gas inventory | (18,668 | ) | (2,117 | ) | (41,548 | ) | (22,865 | )
Tax adjustments | 10,873 |  | (13,488 | ) | 269 |  | 881 |
Consolidated net income | $ | 172,971 |  | $ | 45,469 |  | $ | 180,664 |  | $ | 105,675 |
(1) | Excludes unrealized losses related to an intercompany transaction between NJNG and NJRES that have been eliminated in consolidation of approximately $(957,000) and $(377,000) for the three months ended and $(672,000) and $(310,000) for the six months ended March 31, 2014 and 2013, respectively.
Reconciliation of Assets from Segment to Consolidated | The Company's assets for the various business segments and business operations are detailed below:
(Thousands) | March 31, 2014 | September 30, 2013
Assets at end of period: |  |
Natural Gas Distribution | $ | 2,157,317 |  | $ | 2,094,940 |
Energy Services | 546,010 |  | 468,096 |
Clean Energy Ventures | 312,258 |  | 253,663 |
Midstream | 153,050 |  | 153,536 |
Subtotal | 3,168,635 |  | 2,970,235 |
Retail and Other | 89,810 |  | 85,293 |
Intercompany assets (1) | (97,235 | ) | (50,745 | )
Total | $ | 3,161,210 |  | $ | 3,004,783 |
(1) | Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

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