Note 4 — Inventories

Inventories comprise the following:



	December 31, 2015		September 30, 2015		December 31, 2014
Gas Utility natural gas	$	35,923	$	37,510	$	72,442
Materials, supplies and other	13,442		14,206		12,987
Total inventories	$	49,365	$	51,716	$	85,429

At December 31, 2015, UGI Utilities is a party to two principal storage contract administrative agreements (“SCAAs”) having terms of three years. One of the SCAAs is with UGI Energy Services, LLC (“Energy Services”), a second-tier, wholly owned subsidiary of UGI (see Note 11) and one of the SCAAs is with a non-affiliate. Pursuant to SCAAs, UGI Utilities has, among other things, released certain storage and transportation contracts for the terms of the SCAAs. UGI Utilities also transferred certain associated storage inventories upon commencement of the SCAAs, will receive a transfer of storage inventories at the end of the SCAAs, and makes payments associated with refilling storage inventories during the terms of the SCAAs. The historical cost of natural gas storage inventories released under the SCAAs, which represents a portion of Gas Utility’s total natural gas storage inventories, and any exchange receivable (representing amounts of natural gas inventories used by the other parties to the agreement but not yet replenished for which UGI Utilities has the rights), are included in the caption “Gas Utility natural gas” in the table above.

The carrying value of gas storage inventories released under the SCAAs at December 31, 2015, September 30, 2015 and December 31, 2014, comprising 8.9 billion cubic feet (“bcf”), 9.0 bcf and 9.9 bcf of natural gas, was $22,061, $22,694 and $41,937, respectively. At December 31, 2015, September 30, 2015 and December 31, 2014, UGI Utilities held a total of $15,100, $17,700 and $17,600, respectively, of security deposits from its SCAA counterparties. These amounts are included in other current liabilities on the Condensed Consolidated Balance Sheets.

For additional information related to the SCAAs with Energy Services, see Note 11.