XML 74 R37.htm IDEA: XBRL DOCUMENT
v3.20.2

FAIR VALUE (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2020
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, excluding finance leases and debt issuance costs, is as follows (1):
(Thousands) | 2020 | 2019
NJNG (2) (3) |  |
Carrying value | $ | 1,092,845 |  | $ | 892,845 |
Fair market value | $ | 1,271,715 |  | $ | 984,129 |
NJR (4) |  |
Carrying value | $ | 1,010,000 |  | $ | 550,000 |
Fair market value | $ | 1,146,033 |  | $ | 584,735 |
(1)See Note 9. Debt f or a reconciliation to long-term and short-term debt. (2)Excludes finance leases of $74.2 million and $35.4 million as of September 30, 2020 and September 30, 2019, respectively. (3)Excludes NJNG's debt issuance costs of $9.2 million and $9 million as of September 30, 2020 and September 30, 2019, respectively. (4)Excludes NJR's debt issuance costs of $3.4 million and $2 million as of September 30, 2020 and September 30, 2019, 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 2020: |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Physical commodity contracts |  | $ | — |  |  |  | $ | 7,796 |  |  |  | $ | — |  |  | $ | 7,796 |
Financial commodity contracts |  | 18,279 |  |  |  | 500 |  |  |  | — |  |  | 18,779 |
Financial commodity contracts - foreign exchange |  | — |  |  |  | 84 |  |  |  | — |  |  | 84 |
Money market funds |  | 112,291 |  |  |  | — |  |  |  | — |  |  | 112,291 |
Other |  | 1,840 |  |  |  | — |  |  |  | — |  |  | 1,840 |
Total assets at fair value |  | $ | 132,410 |  |  |  | $ | 8,380 |  |  |  | $ | — |  |  | $ | 140,790 |
Liabilities |  |  |  |  |  |  |  |  |  |
Physical commodity contracts |  | $ | — |  |  |  | $ | 32,517 |  |  |  | $ | — |  |  | $ | 32,517 |
Financial commodity contracts |  | 14,593 |  |  |  | — |  |  |  | — |  |  | 14,593 |
Financial commodity contracts - foreign exchange |  | — |  |  |  | 107 |  |  |  | — |  |  | 107 |
Total liabilities at fair value |  | $ | 14,593 |  |  |  | $ | 32,624 |  |  |  | $ | — |  |  | $ | 47,217 |
As of September 30, 2019: |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |
Physical commodity contracts |  | $ | — |  |  |  | $ | 8,624 |  |  |  | $ | — |  |  | $ | 8,624 |
Financial commodity contracts |  | 20,028 |  |  |  | 3,876 |  |  |  | — |  |  | 23,904 |
Financial commodity contracts - foreign exchange |  | — |  |  |  | 1 |  |  |  | — |  |  | 1 |
Other (1) |  | 1,706 |  |  |  | — |  |  |  | — |  |  | 1,706 |
Total assets at fair value |  | $ | 21,734 |  |  |  | $ | 12,501 |  |  |  | $ | — |  |  | $ | 34,235 |
Liabilities |  |  |  |  |  |  |  |  |  |
Physical commodity contracts |  | $ | — |  |  |  | $ | 40,426 |  |  |  | $ | — |  |  | $ | 40,426 |
Financial commodity contracts |  | 35,732 |  |  |  | — |  |  |  | — |  |  | 35,732 |
Financial commodity contracts - foreign exchange |  | — |  |  |  | 286 |  |  |  | — |  |  | 286 |
Total liabilities at fair value |  | $ | 35,732 |  |  |  | $ | 40,712 |  |  |  | $ | — |  |  | $ | 76,444 |
(1)Includes 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration