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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Sep. 30, 2024
PROPERTY, PLANT AND EQUIPMENT    
Utility plant, at cost $ 4,375,445 $ 4,221,395
Construction work in progress 354,197 233,295
Nonutility plant and equipment, at cost 1,793,700 1,834,956
Construction work in progress 255,674 206,869
Total property, plant and equipment 6,779,016 6,496,515
Accumulated depreciation and amortization, utility plant (852,240) (786,594)
Accumulated depreciation and amortization, nonutility plant and equipment (280,180) (306,698)
Property, plant and equipment, net 5,646,596 5,403,223
CURRENT ASSETS    
Cash and cash equivalents 931 1,017
Customer accounts receivable    
Billed 173,261 105,531
Unbilled revenues 21,909 20,094
Allowance for doubtful accounts (12,097) (8,506)
Regulatory assets 46,216 73,070
Natural gas in storage, at average cost 168,157 199,125
Materials and supplies, at average cost 43,010 38,484
Prepaid expenses 15,064 11,754
Prepaid taxes 51,484 67,066
Derivatives, at fair value 7,688 6,813
Restricted broker margin accounts 12,670 13,243
Other current assets 34,019 26,904
Total current assets 562,312 554,595
NONCURRENT ASSETS    
Investments in equity method investees 101,011 101,744
Regulatory assets 615,859 609,192
Operating lease assets 191,851 184,485
Derivatives, at fair value 5,843 806
Software costs 10,784 10,522
Deferred income taxes 22,520 20,751
Postemployment employee benefit assets 25,710 24,660
Other noncurrent assets 91,675 71,667
Total noncurrent assets 1,065,253 1,023,827
Total assets 7,274,161 6,981,645
CAPITALIZATION    
Common stock, $2.50 par value; authorized 150,000,000 shares; outstanding shares June 30, 2025 — 100,378,238; September 30, 2024 — 99,461,448 250,454 248,159
Premium on common stock 672,034 633,811
Accumulated other comprehensive loss, net of tax (6,318) (6,521)
Treasury stock at cost and other; shares June 30, 2025 — 17,273; September 30, 2024 — 16,302 23,431 26,220
Retained earnings 1,484,015 1,298,774
Common stock equity 2,423,616 2,200,443
Long-term debt 3,020,600 2,879,464
Total capitalization 5,444,216 5,079,907
CURRENT LIABILITIES    
Current maturities of long-term debt 56,050 189,006
Short-term debt 306,650 291,800
Natural gas purchases payable 63,305 57,515
Natural gas purchases payable to related parties 646 875
Deferred revenue 23,516 21,572
Accounts payable and other 138,709 169,232
Dividends payable 45,169 44,752
Accrued taxes 19,120 10,593
Regulatory liabilities 29,152 32,981
New Jersey Clean Energy Program 18,688 18,491
Derivatives, at fair value 8,162 6,271
Operating lease liabilities 6,006 4,945
Restricted broker margin accounts 0 1,146
Customers' credit balances and deposits 23,884 38,595
Total current liabilities 739,057 887,774
NONCURRENT LIABILITIES    
Deferred income taxes 414,868 358,783
Deferred investment tax credits 1,947 2,156
Deferred revenue 22,537 3,095
Derivatives, at fair value 4,618 11,490
Manufactured gas plant remediation 155,861 161,650
Postemployment employee benefit liability 72,113 64,609
Regulatory liabilities 171,688 175,847
Operating lease liabilities 168,645 159,303
Asset retirement obligations 68,265 66,698
Other noncurrent liabilities 10,346 10,333
Total noncurrent liabilities 1,090,888 1,013,964
Commitments and contingent liabilities (Note 13)
Total capitalization and liabilities 7,274,161 6,981,645
Related Party    
CURRENT LIABILITIES    
Natural gas purchases payable to related parties $ 646 $ 875