Inventories and natural gas in storage

3 Months Ended

Mar. 31, 2014

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:



	March 31, 2014		March 31, 2013		December 31, 2013
	(In thousands)
Aggregates held for resale	$	104,106	$	98,120	$	101,568
Asphalt oil	66,292		94,332		38,099
Materials and supplies	68,809		75,868		69,808
Merchandise for resale	22,463		24,342		21,720
Natural gas in storage (current)	6,129		12,811		16,417
Other	33,533		29,399		34,779
Total	$	301,332	$	334,872	$	282,391

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 $47.4 million, $49.6 million, and $48.3 million at March 31, 2014 and 2013, and December 31, 2013, 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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