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REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables)

9 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information related to the Company's various reporting segments and other business operations during the three months ended June 30, 2025 and 2024, are as follows:

			Segments
(Thousands)			NJNG			CEV			ES						S&T			Subtotal			HSO			Elims			Total
2025
Operating revenues
External customers			$	204,790		12,030			38,850						27,129			$	282,799		16,147			—			$	298,946
Intercompany			$	238		—			—						—			$	238		30			(268)			$	—
Depreciation and amortization			$	35,987		5,772			30						4,809			$	46,598		403			(1)			$	47,000
Interest income (1)			$	687		280			36						2,275			$	3,278		324			(1,262)			$	2,340
Interest expense, net of capitalized interest			$	16,184		6,629			2,893						5,741			$	31,447		247			—			$	31,694
Income tax (benefit) provision			$	2,489		(2,068)			(7,792)						1,872			$	(5,499)		687			(330)			$	(5,142)
Equity in earnings of affiliates			$	—		—			—						908			$	908		—			615			$	1,523
Net financial (loss) earnings			$	10,079		(6,857)			(3,734)						5,898			$	5,386		481			331			$	6,198
Capital expenditures			$	103,402		49,276			—						4,227			$	156,905		25			—			$	156,930
2024
Operating revenues
External customers			$	157,773		14,648			62,441						24,475			$	259,337		16,299			—			$	275,636
Intercompany			$	337		—			—						—			$	337		57			(394)			$	—
Depreciation and amortization			$	28,491		6,981			45			(2)			6,239			$	41,756		308			(1,157)			$	40,907
Interest income (1)			$	571		—			151						2,574			$	3,296		386			(1,447)			$	2,235
Interest expense, net of capitalized interest			$	14,239		7,027			3,946						5,773			$	30,985		184			—			$	31,169
Income tax provision (benefit)			$	(1,132)		(2,008)			(1,553)						1,345			$	(3,348)		640			(56)			$	(2,764)
Equity in earnings of affiliates			$	—		—			—						782			$	782		—			558			$	1,340
Net financial earnings (loss)			$	(6,139)		(6,714)			(2,244)						4,140			$	(10,957)		881			1,177			$	(8,899)
Capital expenditures			$	110,302		37,013			—						10,917			$	158,232		252			—			$	158,484

(1)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.

(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.

Information related to the Company's various reporting segments and other business operations during the nine months ended June 30, 2025 and 2024, are as follows:

			Segments
(Thousands)			NJNG			CEV			ES						S&T			Subtotal			HSO			Elims			Total
2025
Operating revenues
External customers			$	1,156,558		46,403			371,548						79,023			$	1,653,532		46,802			—			$	1,700,334
Intercompany			$	881		—			—						41			$	922		287			(1,209)			$	—
Depreciation and amortization			$	103,784		17,701			139						17,843			$	139,467		830			(1)			$	140,296
Interest income (1)			$	1,934		530			109						6,927			$	9,500		898			(3,844)			$	6,554
Interest expense, net of capitalized interest			$	50,897		18,940			10,040						17,527			$	97,404		708			—			$	98,112
Income tax provision			$	63,980		10,994			14,088						4,095			$	93,157		1,510			(832)			$	93,835
Equity in earnings of affiliates			$	—		—			—						3,030			$	3,030		—			1,345			$	4,375
Net financial earnings (loss)			$	221,518		37,315			39,400						13,905			$	312,138		418			832			$	313,388
Capital expenditures			$	306,638		117,978			—						18,289			$	442,905		598			—			$	443,503
2024
Operating revenues
External customers			$	913,729		59,268			311,846						70,031			$	1,354,874		45,885			—			$	1,400,759
Intercompany			$	1,012		—			(4,875)						1,348			$	(2,515)		210			2,305			$	—
Depreciation and amortization			$	82,872		20,834			158			(2)			18,619			$	122,483		808			(2,022)			$	121,269
Interest income (1)			$	1,666		—			422						7,462			$	9,550		1,074			(4,327)			$	6,297
Interest expense, net of capitalized interest			$	43,840		21,656			10,585						17,574			$	93,655		608			—			$	94,263
Income tax provision (benefit)			$	34,000		(471)			11,247						2,996			$	47,772		1,108			5,239			$	54,119
Equity in earnings of affiliates			$	—		—			—						1,860			$	1,860		—			1,878			$	3,738
Net financial earnings (loss)			$	152,400		(1,808)			43,231						9,761			$	203,584		665			(2,128)			$	202,121
Capital expenditures			$	287,727		74,096			—						32,225			$	394,048		1,738			—			$	395,786

(1)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.

(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.

Schedule of Assets for Business Segments and Business Operations

The Company's assets for the various reporting segments and other business operations are detailed below:

			Segments																		Intercompany
(Thousands)			NJNG			CEV			ES			S&T			Subtotal			HSO			Assets (1)			Total
June 30, 2025			$	5,039,492		1,199,871			119,101			1,026,379			$	7,384,843		127,208			(237,890)			$	7,274,161
September 30, 2024			$	4,789,835		1,157,573			108,710			1,025,457			$	7,081,575		159,444			(259,374)			$	6,981,645

(1)Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

Schedule of Reconciliation of Consolidated NFE to Consolidated Net Income

A reconciliation of consolidated NFE to consolidated net income is as follows:

			Three Months Ended						Nine Months Ended
			June 30,						June 30,
(Thousands)			2025			2024			2025			2024
Net financial earnings (loss)			$	6,198		$	(8,899)		$	313,388		$	202,121
Less:
Unrealized loss (gain) on derivative instruments and related transactions			10,766			3,803			(10,072)			23,860
Tax effect			(2,559)			(903)			2,394			(5,670)
Effects of economic hedging related to natural gas inventory			16,924			(385)			747			(19,458)
Tax effect			(4,022)			91			(178)			4,624
NFE tax adjustment			140			69			(58)			116
Net (loss) income			$	(15,051)		$	(11,574)		$	320,555		$	198,649

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