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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Dec. 31, 2016
Accounting Policies [Abstract] |
Summary of Gas in Storage | The following table summarizes gas in storage, at average cost by company as of:
| December 31, 2016 | September 30, 2016
($ in thousands) | Gas in Storage |  | Bcf | Gas in Storage |  | Bcf
NJRES |  | $ | 163,393 |  | 62.9 |  |  | $ | 130,493 |  | 62.0 |
NJNG |  | 56,704 |  | 15.9 |  |  | 75,758 |  | 21.3 |
Total |  | $ | 220,097 |  | 78.8 |  |  | $ | 206,251 |  | 83.3 |
Accounts Receivable by Subsidiary | Customer accounts receivable include outstanding billings from the following subsidiaries as of:
(Thousands) | December 31, 2016 |  | September 30, 2016
NJRES | $ | 173,708 |  | 69 | % |  | $ | 102,884 |  | 72 | %
NJNG (1) | 71,404 |  | 28 |  |  | 30,951 |  | 22 |
NJRCEV | 2,121 |  | 1 |  |  | 1,807 |  | 1 |
NJRHS and other | 5,522 |  | 2 |  |  | 7,016 |  | 5 |
Total | $ | 252,755 |  | 100 | % |  | $ | 142,658 |  | 100 | %
(1) | Does not include unbilled revenues of $47.6 million and $5.7 million as of December 31, 2016 and September 30, 2016, respectively.
Schedule of Retrospective Application of New Accounting Standard | In addition, the following amounts on the Unaudited Condensed Consolidated Financial Statements have been adjusted retrospectively, for the three months ended December 31, 2015:
(Thousands) | As Previously Reported |  | Effect of Change |  | As Adjusted
Statements of Operations |  |  |  |  |
Income tax provision | $ | 8,357 |  |  | $ | (1,635 | ) |  | $ | 6,722 |
Net income | $ | 48,647 |  |  | $ | 1,635 |  |  | $ | 50,282 |
Earnings per common share |  |  |  |  |
Basic | $ | 0.57 |  |  | $ | 0.02 |  |  | $ | 0.59 |
Diluted | $ | 0.56 |  |  | $ | 0.02 |  |  | $ | 0.58 |
Cash flows (used in) operating activities |  |  |  |  |
Net income | $ | 48,647 |  |  | $ | 1,635 |  |  | $ | 50,282 |
Tax benefit from stock based compensation | $ | — |  |  | $ | 1,635 |  |  | $ | 1,635 |
Other noncurrent liabilities | $ | 4,401 |  |  | $ | (228 | ) |  | $ | 4,173 |
Net cash flows (used in) operating activities | $ | (39,216 | ) |  | $ | 3,042 |  |  | $ | (36,174 | )
Cash flows from financing activities |  |  |  |  |
Tax withholding payments related to net settled stock compensation | $ | — |  |  | $ | (3,042 | ) |  | $ | (3,042 | )
Cash flows from financing activities | $ | 131,356 |  |  | $ | (3,042 | ) |  | $ | 128,314 |
In addition, the following amounts on the Unaudited Condensed Consolidated Balance sheets have been adjusted, retrospectively, as of September 30, 2016.
(Thousands) | As Previously Reported |  | Effect of Change |  | As Adjusted
Assets |  |  |  |  |
Other noncurrent assets | $ | 68,708 |  |  | $ | (8,512 | ) |  | $ | 60,196 |
Total noncurrent assets | $ | 712,166 |  |  | $ | (8,512 | ) |  | $ | 703,654 |
Total assets | $ | 3,727,082 |  |  | $ | (8,512 | ) |  | $ | 3,718,570 |
Capitalization and Liabilities |  |  |  |  |
Long-term debt | $ | 1,063,550 |  |  | $ | (8,512 | ) |  | $ | 1,055,038 |
Total capitalization | $ | 2,230,141 |  |  | $ | (8,512 | ) |  | $ | 2,221,629 |
Total capitalization and liabilities | $ | 3,727,082 |  |  | $ | (8,512 | ) |  | $ | 3,718,570 |

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