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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
Summary of Gas in Storage
The following table summarizes gas in storage, at average cost by company as of:
 
March 31,
2017
September 30,
2016
($ in thousands)
Gas in Storage
 
Bcf
Gas in Storage
 
Bcf
NJRES
 
$
128,281

46.4

 
$
130,493

62.0

NJNG
 
15,233

4.3

 
75,758

21.3

Total
 
$
143,514

50.7

 
$
206,251

83.3
Accounts Receivable by Subsidiary
Customer accounts receivable include outstanding billings from the following subsidiaries as of:
(Thousands)
March 31,
2017
 
September 30,
2016
NJRES
$
135,199

56
%
 
$
102,884

72
%
NJNG (1)
100,449

41

 
30,951

22

NJRCEV
2,405

1

 
1,807

1

NJRHS and other
4,645

2

 
7,016

5

Total
$
242,698

100
%
 
$
142,658

100
%
(1)
Does not include unbilled revenues of $42.7 million and $5.7 million as of March 31, 2017 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 during the three and six months ended March 31, 2016:
(Thousands)
As Previously Reported
 
Effect of Change
 
As Adjusted
Three Months Ended
 
 
 
 
 
Statements of Operations
 
 
 
 
 
Income tax provision
$
17,840

 
$
(25
)
 
$
17,815

Net income
$
73,328

 
$
25

 
$
73,353

Earnings per common share
 
 
 
 
 
Basic
$
0.85

 
$
—

 
$
0.85

Diluted
$
0.84

 
$
—

 
$
0.84

Six Months Ended
 
 
 
 
 
Statements of Operations
 
 
 
 
 
Income tax provision
$
26,197

 
$
(1,660
)
 
$
24,537

Net income
$
121,975

 
$
1,660

 
$
123,635

Earnings per common share
 
 
 
 
 
Basic
$
1.42

 
$
0.02

 
$
1.44

Diluted
$
1.41

 
$
0.01

 
$
1.42

Cash flows from operating activities
 
 
 
 
 
Net income
$
121,975

 
$
1,660

 
$
123,635

Tax benefit from stock based compensation
$
—

 
$
1,660

 
$
1,660

Other noncurrent liabilities
$
2,302

 
$
(139
)
 
$
2,163

Net cash flows from operating activities
$
114,824

 
$
3,181

 
$
118,005

Cash flows from financing activities
 
 
 
 
 
Tax withholding payments related to net settled stock compensation
$
—

 
$
(3,181
)
 
$
(3,181
)
Cash flows from financing activities
$
53,547

 
$
(3,181
)
 
$
50,366

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