Inventories and natural gas in storage

3 Months Ended

Mar. 31, 2021

Natural gas in storage for the Company's regulated operations is generally valued at lower of cost or market using the last-in, first-out method or lower of cost or net realizable value using the average cost or first-in, first-out method. The majority of all other inventories are valued at the lower of cost or net realizable value using the average cost method. The portion of the cost of natural gas in storage expected to be used within 12 months was included in inventories. Inventories on the Consolidated Balance Sheets were as follows:


	March 31, 2021		March 31, 2020		December 31, 2020
	(In thousands)
Aggregates held for resale	$	180,450	$	155,976	$	175,782
Asphalt oil	59,853		73,842		28,238
Materials and supplies	26,481		26,293		25,142
Merchandise for resale	24,319		23,109		21,087
Natural gas in storage (current)	8,113		7,872		21,919
Other	17,521		18,866		18,999
Total	$	316,737	$	305,958	$	291,167

The remainder of natural gas in storage, which largely represents the cost of gas required to maintain pressure levels for normal operating purposes, was included in noncurrent assets - other and was $47.5 million at March 31, 2021 and December 31, 2020, and $48.3 million at March 31, 2020.