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FAIR VALUE (Tables)

12 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Estimated Fair Value of Long-term Debt

As of September 30, the estimated fair value of long-term debt at NJNG and NJR, including current maturities and excluding capital leases, is as follows:

(Thousands)	2016			2015
NJNG
Carrying value (1)	$	707,845		$	582,845
Fair market value	$	731,615		$	584,240
NJR
Carrying value	$	375,000		$	225,000
Fair market value	$	399,462		$	233,079

(1) Excludes capital leases of $42.2 million and $46.9 million as of September 30, 2016 and 2015, respectively.

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized as follows:

	Quoted Prices in Active Markets for Identical Assets					Significant Other Observable Inputs					Significant Unobservable Inputs
(Thousands)	(Level 1)					(Level 2)					(Level 3)					Total
As of September 30, 2016:
Assets
Physical commodity contracts		$	—				$	10,216				$	—			$	10,216
Financial commodity contracts		24,974					—					—				24,974
Financial commodity contracts - foreign exchange		—					1					—				1
Available for sale equity securities - energy industry		55,789					—					—				55,789
Other (1)		35,516					—					—				35,516
Total assets at fair value		$	116,279				$	10,217				$	—			$	126,496
Liabilities
Physical commodity contracts		$	—				$	14,026				$	—			$	14,026
Financial commodity contracts		49,201					—					—				49,201
Financial commodity contracts - foreign exchange		—					32					—				32
Interest rate contracts		—					23,073					—				23,073
Total liabilities at fair value		$	49,201				$	37,131				$	—			$	86,332
As of September 30, 2015:
Assets
Physical commodity contracts		$	—				$	6,572				$	—			$	6,572
Financial commodity contracts		38,515					—					—				38,515
Available for sale equity securities - energy industry		59,475					—					—				59,475
Other (1)		1,572					—					—				1,572
Total assets at fair value		$	99,562				$	6,572				$	—			$	106,134
Liabilities
Physical commodity contracts		$	—				$	9,281				$	—			$	9,281
Financial commodity contracts		24,821					—					—				24,821
Interest rate contracts		—					4,228					—				4,228
Total liabilities at fair value		$	24,821				$	13,509				$	—			$	38,330

(1) Includes various money market funds.

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=73719730&loc=d3e13467-108611

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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