XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.23.2

FAIR VALUE (Tables) | 9 Months Ended
--- | ---
Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Fair Value, by Balance Sheet Grouping | The estimated fair value of long-term debt, including current maturities, excluding natural gas meter finance arrangements, debt issuance costs and solar asset financing obligations, is as follows:
(Thousands) | June 30, 2023 | September 30, 2022
Carrying value (1) (2) (3) | $ | 2,537,845 |  | $ | 2,362,845 |
Fair market value | $ | 2,177,799 |  | $ | 1,946,356 |
(1)Excludes the sale leasebacks of natural gas meters of $33.3 million and $30.3 million as of June 30, 2023 and September 30, 2022, respectively. The fair value of certain sale leasebacks of natural gas meters amounted to $22.2 million and $15.7 million as of June 30, 2023 and September 30, 2022, respectively. (2)Excludes NJNG's debt issuance costs of $9.7 million and $9.5 million as of June 30, 2023 and September 30, 2022, respectively. (3)Excludes NJR's debt issuance costs of $3.8 million as of both June 30, 2023 and September 30, 2022.
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, 2023 |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |
Physical commodity contracts |  | $ | — |  |  |  | $ | 7,287 |  |  |  | $ | — |  |  | $ | 7,287 |
Financial commodity contracts |  | 26,704 |  |  |  | — |  |  |  | — |  |  | 26,704 |
Money market funds |  | 131 |  |  |  | — |  |  |  | — |  |  | 131 |
Other |  | 2,651 |  |  |  | — |  |  |  | — |  |  | 2,651 |
Total assets at fair value |  | $ | 29,486 |  |  |  | $ | 7,287 |  |  |  | $ | — |  |  | $ | 36,773 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Physical commodity contracts |  | $ | — |  |  |  | $ | 26,220 |  |  |  | $ | — |  |  | $ | 26,220 |
Financial commodity contracts |  | 4,600 |  |  |  | — |  |  |  | — |  |  | 4,600 |
Total liabilities at fair value |  | $ | 4,600 |  |  |  | $ | 26,220 |  |  |  | $ | — |  |  | $ | 30,820 |
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 -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration