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FAIR VALUE (Tables)

3 Months Ended

Dec. 31, 2022

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)			December 31, 2022			September 30, 2022
Carrying value (1) (2) (3)			$	2,537,845		$	2,362,845
Fair market value			$	2,153,688		$	1,946,356

(1)Excludes finance leases of $37.0 million and $30.3 million as of December 31, 2022 and September 30, 2022, respectively.

(2)Excludes NJNG's debt issuance costs of $10.0 million and $9.5 million as of December 31, 2022 and September 30, 2022, respectively.

(3)Excludes NJR's debt issuance costs of $4.2 million and $3.8 million as of December 31, 2022 and September 30, 2022, 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 December 31, 2022:
Assets:
Physical commodity contracts						$	—								$	8,605								$	—					$	8,605
Financial commodity contracts						39,518									—									—						39,518
Money market funds						82									—									—						82
Other						2,720									—									—						2,720
Total assets at fair value						$	42,320								$	8,605								$	—					$	50,925
Liabilities:
Physical commodity contracts						$	—								$	29,932								$	—					$	29,932
Financial commodity contracts						41,649									—									—						41,649
Total liabilities at fair value						$	41,649								$	29,932								$	—					$	71,581

			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, 2022:
Assets:
Physical commodity contracts						$	—								$	10,485								$	—					$	10,485
Financial commodity contracts						20,517									—									—						20,517
Financial commodity contracts - foreign exchange						—									18									—						18
Money market funds						59									—									—						59
Other						1,884									—									—						1,884
Total assets at fair value						$	22,460								$	10,503								$	—					$	32,963
Liabilities:
Physical commodity contracts						$	—								$	30,623								$	—					$	30,623
Financial commodity contracts						33,231									168									—						33,399
Financial commodity contracts - foreign exchange						—									17									—						17
Total liabilities at fair value						$	33,231								$	30,808								$	—					$	64,039

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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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