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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Sep. 30, 2022
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) | 2022 | 2021 | 2020
Energy Services | $ | 95.4 |  | $ | 120.5 |  | $ | 121.8 |
Natural Gas Distribution | 170.3 |  | 123.2 |  | 131.9 |
Total | $ | 265.7 |  | $ | 243.7 |  | $ | 253.7 |
Schedule of Property, Plant and Equipment | Property, plant and equipment was comprised of the following as of September 30:
(Thousands) | Estimated |  |  |
Property Classifications | Useful Lives |  | 2022 | 2021
Distribution facilities | 10 to 54 years |  | $ | 2,797,936 |  | $ | 2,558,651 |
Transmission facilities | 28 to 42 years |  | 649,241 |  | 643,942 |
Storage facilities | 35 to 86 years |  | 85,449 |  | 79,892 |
Solar property | 20 to 35 years |  | 710,224 |  | 675,376 |
Storage and transportation property | 5 to 50 years |  | 850,186 |  | 433,678 |
All other property | 5 to 40 years |  | 60,914 |  | 57,968 |
Construction work in progress |  |  | 361,766 |  | 547,542 |
Total property, plant and equipment |  |  | 5,515,716 |  | 4,997,049 |
Accumulated depreciation and amortization |  |  | (865,790) |  | (783,536) |
Property, plant and equipment, net |  |  | $ | 4,649,926 |  | $ | 4,213,513 |
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) | 2022 | 2021 | 2020
AFUDC: | NJNG | Adelphia Gateway | NJNG | Adelphia Gateway | NJNG | Adelphia Gateway
Debt | $ | 1,648 |  | $ | 4,019 |  | $ | 5,648 |  | $ | 2,101 |  | $ | 5,134 |  | $ | 1,394 |
Equity | 4,169 |  | 7,074 |  | 16,605 |  | 3,698 |  | 14,599 |  | 2,454 |
Total | $ | 5,817 |  | $ | 11,093 |  | $ | 22,253 |  | $ | 5,799 |  | $ | 19,733 |  | $ | 3,848 |
Weighted average interest rate | 4.91 | % | 8.28 | % | 5.97 | % | 8.28 | % | 6.79 | % | 8.28 | %
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 Consolidated Statements of Cash Flows, as of September 30:
(Thousands) | 2022 | 2021 | 2020
Balance Sheet |  |  |
Cash and cash equivalents | $ | 1,107 |  | $ | 4,749 |  | $ | 117,012 |
Restricted cash in other noncurrent assets | $ | 345 |  | $ | 1,294 |  | $ | 2,411 |
Statements of Cash Flow |  |  |
Cash, cash equivalents and restricted cash | $ | 1,452 |  | $ | 6,043 |  | $ | 119,423 |
Schedule of Gas in Storage | The following table summarizes natural gas in storage, at average cost by company, as of September 30:
| 2022 | 2021
($ in thousands) | Natural Gas in Storage | Bcf | Natural Gas in Storage | Bcf
Natural Gas Distribution |  | $ | 191,175 |  | 29.0 |  |  | $ | 115,824 |  | 27.6 |
Energy Services |  | 82,469 |  | 10.8 |  |  | 77,782 |  | 18.8 |
Total |  | $ | 273,644 |  | 39.8 |  |  | $ | 193,606 |  | 46.4 |
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) | 2022 | 2021
Balance Sheets |  |
Utility plant, at cost | $ | 40,437 |  | $ | 16,543 |
Construction work in progress | $ | 14,381 |  | $ | 7,801 |
Nonutility plant and equipment, at cost | $ | 344 |  | $ | 338 |
Construction work in progress | $ | — |  | $ | 8 |
Accumulated depreciation and amortization, utility plant | $ | (3,361) |  | $ | (1,333) |
Accumulated depreciation and amortization, nonutility plant and equipment | $ | (25) |  | $ | (29) |
Software costs | $ | 6,120 |  | $ | 5,582 |
Statements of Operations |  |
Operation and maintenance (1) | $ | 11,141 |  | $ | 9,141 |
Depreciation and amortization | $ | 2,024 |  | $ | 1,078 |
(1)During fiscal 2022 and 2021, $452,000 and 447,000, respectively, was amortized from software costs 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) |
2023 | $ | 2,271 |
2024 | $ | 77 |
2025 | $ | — |
2026 | $ | — |
2027 | $ | — |
Schedule of Accumulated Other Comprehensive Loss | The following table presents the changes in the components of accumulated other comprehensive income, net of related tax effects, as of September 30:
(Thousands) | Cash Flow Hedges | Postemployment Benefit Obligation | Total
Balance at September 30, 2020 | $ | (10,397) |  |  | $ | (33,918) |  |  | $ | (44,315) |
Other comprehensive income, net of tax |  |  |  |  |
Other comprehensive income, before reclassifications, net of tax of $0, $(1,618) and $(1,618), respectively | — |  |  | 5,494 |  |  | 5,494 |
Amounts reclassified from accumulated other comprehensive income, net of tax of $(350), $(957) and $(1,307), respectively | 1,021 |  |  | 3,272 |  | (1) | 4,293 |
Net current-period other comprehensive income, net of tax of $(350), $(2,575) and $(2,925), respectively | 1,021 |  |  | 8,766 |  |  | 9,787 |
Balance at September 30, 2021 | $ | (9,376) |  |  | $ | (25,152) |  |  | $ | (34,528) |
Other comprehensive income, net of tax |  |  |  |  |
Other comprehensive income, before reclassifications, net of tax of $0, $(7,727) and $(7,727), respectively | — |  |  | 25,580 |  |  | 25,580 |
Amounts reclassified from accumulated other comprehensive income, net of tax of $(317), $(930) and $(1,247), respectively | 1,054 |  |  | 3,068 |  | (1) | 4,122 |
Net current-period other comprehensive income, net of tax of $(317), $(8,657) and $(8,974), respectively | 1,054 |  |  | 28,648 |  |  | 29,702 |
Balance at September 30, 2022 | $ | (8,322) |  |  | $ | 3,496 |  |  | $ | (4,826) |
(1)Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Consolidated Statements of Operations. For more details, see Note 11. Employee Benefit Plans.

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