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DEBT | 9 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
DEBT | 9. DEBT NJR and NJNG finance working capital requirements and capital expenditures through various short-term debt and long-term financing arrangements, including a commercial paper program and committed unsecured credit facilities. Credit Facilities and Short-term Debt A summary of NJR's credit facility and NJNG's commercial paper program and credit facility are as follows:
|  |  | At end of period |
(Thousands) | As of date | Total borrowing capacity | Loans outstanding | Weighted average interest rate | Remaining borrowing capacity | Expiration dates
NJR bank revolving credit facility (1) |  |  |  |  |  |  |  |
June 30, 2025 | $ | 575,000 |  | $ | 199,950 |  |  | 5.56 | % |  |  | $ | 353,668 |  | (2) | August 2029
September 30, 2024 | $ | 575,000 |  | $ | 236,700 |  |  | 6.23 | % |  |  | $ | 325,951 |  | (2) | August 2029
NJNG bank revolving credit facility (3) |  |  |  |  |  |  |
June 30, 2025 | $ | 250,000 |  | $ | 106,700 |  |  | 4.61 | % |  |  | $ | 142,569 |  | (4) | August 2029
September 30, 2024 | $ | 250,000 |  | $ | 55,100 |  |  | 4.98 | % |  |  | $ | 194,169 |  | (4) | August 2029
(1)Committed credit facility, which requires commitment fees of 0.10% on the unused amount. (2)Letters of credit outstanding total approximately $21.4M and $12.3M as of June 30, 2025 and September 30, 2024, respectively, which reduces the amount available by the same amount. (3)Committed credit facility, which requires commitment fees of 0.075% on the unused amount. (4)Letters of credit outstanding total approximately $0.7M as of both June 30, 2025 and September 30, 2024, which reduces the amount available by the same amount. Amounts available under credit facilities are reduced by bank or commercial paper borrowings, as applicable, and any outstanding letters of credit. Neither NJNG nor the results of its operations are obligated or pledged to support the NJR Credit Facility. Long-term Debt NJR On November 7, 2024, NJR entered into a Note Purchase Agreement under which NJR issued $100M senior notes at a fixed interest rate of 5.55%, maturing on November 7, 2034. NJNG On April 15, 2025, NJNG's 10-year 2.82% $50M senior notes matured. NJNG received approximately $11.7M and $8.8M during the nine months ended June 30, 2025 and 2024, respectively, in connection with the sale leaseback of its natural gas meters. NJNG records the sale leaseback as a financing obligation for accounting purposes that is paid over the term of the arrangement and has the option to purchase the meters back at fair value upon expiration of the lease. Clean Energy Ventures CEV received proceeds of approximately $100.3M and $24.4M during the nine months ended June 30, 2025 and 2024, respectively, in connection with the sale leaseback of commercial solar assets. CEV records the sale leaseback as a financing obligation for accounting purposes and continues to operate the solar assets, including related expenses, retains the revenue generated from RECs and energy sales, and has the option to repurchase the assets sold or renew the lease at the end of the lease term.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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