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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Sep. 30, 2020
Accounting Policies [Abstract] |
Schedule of Demand Charges | The following table summarizes the demand charges, which are net of capacity releases, and are included as a component of natural gas purchases on the Consolidated Statements of Operations for the fiscal years ended September 30:
(Millions) | 2020 | 2019 | 2018
Energy Services | $ | 121.8 |  | $ | 120.4 |  | $ | 153.0 |
Natural Gas Distribution | 131.9 |  | 119.1 |  | 92.5 |
Total | $ | 253.7 |  | $ | 239.5 |  | $ | 245.5 |
Schedule of Property, Plant and Equipment | Property, plant and equipment was comprised of the following as of September 30:
(Thousands) | Estimated |  |  |
Property Classifications | Estimated Useful Lives |  | 2020 | 2019
Distribution facilities | 38 to 74 years |  | $ | 2,688,885 |  | $ | 2,419,381 |
Transmission facilities | 35 to 56 years |  | 332,947 |  | 330,912 |
Storage facilities | 34 to 47 years |  | 79,922 |  | 79,916 |
Solar property | 15 to 35 years |  | 674,930 |  | 593,867 |
Storage and transportation property | 5 to 50 years |  | 428,491 |  | 28,445 |
All other property | 5 to 35 years |  | 259,791 |  | 48,886 |
Total property, plant and equipment |  |  | 4,464,966 |  | 3,501,407 |
Accumulated depreciation and amortization |  |  | (742,197) |  | (691,774) |
Property, plant and equipment, net |  |  | $ | 3,722,769 |  | $ | 2,809,633 |
Schedule of Capitalized Amounts Associated with Debt and Equity Component of AFUDC | Capitalized and deferred interest include the following for the fiscal years ended September 30:
($ in thousands) | 2020 | 2019 | 2018
| NJNG | Adelphia Gateway | NJNG | NJNG
AFUDC: |  |  |  |
Debt | $ | 5,134 |  | $ | 1,394 |  | $ | 3,710 |  | $ | 1,979 |
Equity | 14,599 |  | 2,454 |  | 6,492 |  | 5,531 |
Total | $ | 19,733 |  | $ | 3,848 |  | $ | 10,202 |  | $ | 7,510 |
Weighted average interest rate | 6.79 | % | 8.28 | % | 6.35 | % | 5.94 | %
Schedule of Restricted Cash | The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the total amounts in the Statements of Cash Flows, as of September 30:
(Thousands) | 2020 | 2019 | 2018
Balance Sheet |  |  |
Cash and cash equivalents | $ | 117,012 |  | $ | 2,676 |  | $ | 1,458 |
Restricted cash in other noncurrent assets | $ | 2,411 |  | $ | 1,387 |  | $ | 252 |
Statements of Cash Flow |  |  |
Cash, cash equivalents and restricted cash | $ | 119,423 |  | $ | 4,063 |  | $ | 1,710 |
Summary of Gas in Storage | The following table summarizes natural gas in storage, at average cost by company, as of September 30:
| 2020 | 2019
($ in thousands) | Natural Gas in Storage | Bcf | Natural Gas in Storage | Bcf
Natural Gas Distribution |  | $ | 110,037 |  | 27.2 |  |  | $ | 117,413 |  | 27.0 |
Energy Services |  | 57,352 |  | 34.3 |  |  | 52,390 |  | 25.6 |
Storage and Transportation |  | 115 |  | 0.02 |  |  | — |  | — |
Total |  | $ | 167,504 |  | 61.52 |  |  | $ | 169,803 |  | 52.6 |
Schedule of Software Costs Included in the Consolidated Financial Statements | The following table presents the software costs included in the Consolidated Financial Statements, as of September 30:
(Thousands) | 2020 | 2019
Balance Sheets |  |
Utility plant, at cost | $ | 13,452 |  | $ | — |
Construction work in progress | $ | — |  | $ | 4,778 |
Nonutility plant and equipment, at cost | $ | 316 |  | $ | — |
Accumulated depreciation and amortization, utility plant | $ | (279) |  | $ | — |
Accumulated depreciation and amortization, nonutility plant and equipment | $ | (5) |  | $ | — |
Software costs | $ | 4,707 |  | $ | 1,702 |
Statements of Operations |  |
Operation and maintenance (1) | $ | 6,720 |  | $ | 9,062 |
Depreciation and amortization | $ | 284 |  | $ | — |
(1)During fiscal 2020, $63,000 was amortized into O&M.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The estimated future amortization expense as of September 30, is as follows:
(Thousands) |
2021 | $ | 5,101 |
2022 | $ | 2,611 |
2023 | $ | 2,271 |
2024 | $ | 77 |
Changes in Components of Accumulated Other Comprehensive Income, Net | The following table presents the changes in the components of accumulated other comprehensive income, net of related tax effects, as of September 30:
(Thousands) | Investments in Equity Securities | Cash Flow Hedges | Postemployment Benefit Obligation | Total
Balance at September 30, 2018 | $ | 3,446 |  |  | $ | — |  |  | $ | (16,056) |  |  | $ | (12,610) |
Other comprehensive income, net of tax |  |  |  |  |  |  |
Other comprehensive (loss), before reclassifications, net of tax of $0, $0, $6,557 and $6,557, respectively | — |  |  | — |  |  | (16,978) |  |  | (16,978) |
Amounts reclassified from accumulated other comprehensive (loss), net of tax of $0, $0, $(451) and $(451), respectively | — |  |  | — |  |  | 1,247 |  | (1) | 1,247 |
Net current-period other comprehensive income, net of tax of $0, $0, $6,106 and $6,106, respectively | — |  |  | — |  |  | (15,731) |  |  | (15,731) |
Reclassifications of certain income tax effects to retained earnings (2) | (3,446) |  |  | — |  |  | — |  |  | (3,446) |
Balance at September 30, 2019 | $ | — |  |  | $ | — |  |  | $ | (31,787) |  |  | $ | (31,787) |
Other comprehensive income, net of tax |  |  |  |  |  |  |
Other comprehensive (loss) income, before reclassifications, net of tax of $0, $3,203, $1,235, $4,438, respectively | — |  |  | (10,505) |  |  | (4,882) |  |  | (15,387) |
Amounts reclassified from accumulated other comprehensive loss, net of tax of $0, $(32), $(668), $(700), respectively | — |  |  | 108 |  |  | 2,751 |  | (1) | 2,859 |
Net current-period other comprehensive income, net of tax of $0, $3,171, $567, $3,738, respectively | — |  |  | (10,397) |  |  | (2,131) |  |  | (12,528) |
Balance at September 30, 2020 | $ | — |  |  | $ | (10,397) |  |  | $ | (33,918) |  |  | $ | (44,315) |
(1)Included in the computation of net periodic pension cost, a component of O&M expense on the Consolidated Statements of Operations. For more details, see Note 11. Employee Benefit Plans. (2)Due to the adoption of ASU No. 2016-01, an amendment to ASC 825, Financial Instruments. See Note 2. Summary of Significant Accounting Policies - Recently Adopted Updates to the Accounting Standards Codification section for more details.

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