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DEBT | 6 Months Ended
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Mar. 31, 2015
Debt Disclosure [Abstract] |
DEBT | DEBT NJR and NJNG finance working capital requirements and capital expenditures through various short-term debt and long-term financing arrangements, including a commercial paper program, committed unsecured credit facilities and private placement debt shelf facilities. Credit Facilities A summary of NJR's credit facility and NJNG's commercial paper program and credit facility are as follows:
(Thousands) | March 31, 2015 |  | September 30, 2014 |  | Expiration Dates
NJR |  |  |  |  |
Bank revolving credit facilities (1) | $ | 425,000 |  |  | $ | 425,000 |  |  | August 2017
Notes outstanding at end of period | $ | — |  |  | $ | 148,000 |  |  |
Weighted average interest rate at end of period | — | % |  | 1.08 | % |  |
Amount available at end of period (2) | $ | 417,345 |  |  | $ | 256,484 |  |  |
Bank revolving credit facilities (3) | $ | 100,000 |  |  | $ | — |  |  | October 2015
Amount available at end of period | $ | 100,000 |  |  | $ | — |  |  |
NJNG |  |  |  |  |
Bank revolving credit facilities (1) | $ | 250,000 |  |  | $ | 250,000 |  |  | May 2019
Commercial paper outstanding at end of period | $ | 146,000 |  |  | $ | 153,000 |  |  |
Weighted average interest rate at end of period | 0.18 | % |  | 0.12 | % |  |
Amount available at end of period (4) | $ | 103,269 |  |  | $ | 96,269 |  |  |
(1) | Committed credit facilities, which require commitment fees on the unused amounts.
(2) | Letters of credit outstanding total $7.7 million and $20.5 million as of March 31, 2015 and September 30, 2014, respectively, which reduces amount available by the same amount.
(3) | Uncommitted credit facilities, which require no commitment fees.
(4) | Letters of credit outstanding total $731,000 and $731,000 as of March 31, 2015 and September 30, 2014, respectively, which reduces the amount available by the same amount.
On October 24, 2014, NJR entered into a $100 million uncommitted line of credit agreement, with Santander Bank, N.A., expiring on October 24, 2015. 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. NJR Long-term Debt Under the Prudential Facility, as of March 31, 2015, NJR had $50 million in notes outstanding at 3.25 percent due on September 17, 2022, and on November 7, 2014, an additional $100 million in notes at 3.48 percent was issued and is due on November 7, 2024. On September 26, 2013, NJR entered into an unsecured, uncommitted $100 million private placement shelf note agreement allowing NJR to issue senior notes during a three-year issuance period ending September 26, 2016. As of March 31, 2015, $100 million remains available for borrowing under this facility. As of March 31, 2015, NJR had two series of notes outstanding under an unsecured, uncommitted private placement shelf note agreement, which expired in May 2013, in the amounts of $25 million at 1.94 percent, which will mature on September 15, 2015 and $25 million at 2.51 percent, which will mature on September 15, 2018. NJNG Long-term Debt On April 15, 2015, NJNG issued $50 million of 2.82 percent senior notes due April 15, 2025, and $100 million of 3.66 percent senior notes due April 15, 2045, secured by FMB in the private placement market pursuant to a note purchase agreement entered into on February 12, 2015. The proceeds of the notes will be used for general corporate purposes, to refinance or retire debt and to fund capital expenditure requirements. On March 13, 2014, NJNG issued $70 million of 3.58 percent senior notes due March 13, 2024, and $55 million of 4.61 percent senior notes due March 13, 2044, secured by FMB in the private placement market pursuant to a note purchase agreement entered into on February 7, 2014. NJNG received $7.2 million and $7.6 million in December 2014 and 2013, 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.

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- 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 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: 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 3: 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 + Details
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