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FAIR VALUE (Tables)

9 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The estimated fair value of long-term debt, including current maturities, excluding finance leases, debt issuance costs and solar asset financing obligations, is as follows:

(Thousands)			June 30, 2021			September 30, 2020
Carrying value (1) (2) (3)			$	2,102,845		$	2,102,845
Fair market value			$	2,343,730		$	2,417,748

(1)Excludes finance leases of $21.4 million and $74.2 million as of June 30, 2021 and September 30, 2020, respectively.

(2)Excludes NJNG's debt issuance costs of $9.2 million as of both June 30, 2021 and September 30, 2020.

(3)Excludes NJR's debt issuance costs of $3.2 million and $3.4 million as of June 30, 2021 and September 30, 2020, respectively.

Schedule of Fair Value Assets and Liabilities Measured 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 June 30, 2021:
Assets:
Physical commodity contracts						$	—								$	4,820								$	—					$	4,820
Financial commodity contracts						15,496									—									—						15,496
Financial commodity contracts - foreign exchange						—									258									—						258
Money market funds						41									—									—						41
Other						1,818									—									—						1,818
Total assets at fair value						$	17,355								$	5,078								$	—					$	22,433
Liabilities:
Physical commodity contracts						$	—								$	35,622								$	—					$	35,622
Financial commodity contracts						22,732									269									—						23,001
Financial commodity contracts - foreign exchange						—									79									—						79
Total liabilities at fair value						$	22,732								$	35,970								$	—					$	58,702

			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, 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

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

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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

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