Inventories and natural gas in storage

9 Months Ended

Sep. 30, 2013

Inventories, other than natural gas in storage for the Company's regulated operations, are stated at the lower of average cost or market value. Natural gas in storage for the Company's regulated operations is generally carried at average cost, or cost using the last-in, first-out method. The portion of the cost of natural gas in storage expected to be used within one year is included in inventories. Inventories consisted of:



	September 30, 2013		September 30, 2012		December 31, 2012
	(In thousands)
Aggregates held for resale	$	104,784	$	88,632	$	87,715
Asphalt oil	43,078		47,084		67,480
Materials and supplies	71,370		75,551		69,390
Merchandise for resale	23,713		30,827		31,172
Natural gas in storage (current)	37,689		41,091		29,030
Other	33,937		32,582		32,628
Total	$	314,571	$	315,767	$	317,415

The remainder of natural gas in storage, which largely represents the cost of gas required to maintain pressure levels for normal operating purposes, is included in other assets and was $48.6 million, $50.3 million, and $49.7 million at September 30, 2013 and 2012, and December 31, 2012, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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