XML 67 R35.htm IDEA: XBRL DOCUMENT v2.3.0.15
STOCK BASED COMPENSATION (Tables)
12 Months Ended
Sep. 30, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] 
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
The following table summarizes all stock-based compensation expense recognized during the following fiscal years:
(Thousands)
2011
2010
2009
Stock-based compensation expense:



Stock options
$
—

$
—

$
148

Performance shares
915

813

475

Restricted stock
1,932

1,841

2,477

Compensation expense included in Operation and Maintenance expense
2,847

2,654

3,100

Income tax benefit
(1,163
)
(1,084
)
(1,274
)
Total, net of tax
$
1,684

$
1,570

$
1,826

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following table summarizes the stock option activity for the past three fiscal years:
 
Shares

Weighted Average
Exercise Price
Outstanding at September 30, 2008
579,143

 
$24.66
 
Granted
—

 
—

 
Exercised
(245,107
)
 
$22.38
 
Forfeited
(575
)
 
$18.11
 
Outstanding at September 30, 2009
333,461

 
$26.36
 
Granted
—

 
—

 
Exercised
(68,307
)
 
$23.20
 
Forfeited
(2,026
)
 
$18.32
 
Outstanding at September 30, 2010
263,128

 
$27.24
 
Granted
—

 
—

 
Exercised
(152,448
)
 
$26.86
 
Forfeited
(917
)
 
$18.11
 
Outstanding at September 30, 2011
109,763

 
$27.84
 
Exercisable at September 30, 2011
109,763

 
$27.84
 
Exercisable at September 30, 2010
263,128

 
$27.24
 
Exercisable at September 30, 2009
333,461

 
$26.36
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table summarizes stock options outstanding and exercisable as of September 30, 2011:
 
Outstanding and Exercisable
Exercise Price Range
Number
Of Stock
Options
Weighted Average
Remaining
Contractual Term
(in years)
Weighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
(in thousands)
$20.05 - $26.00
26,638

3.3
$21.55
 
$
560

 
$26.01 - $29.00
23,250

5.5
$28.68
 
$
323

 
$29.01 - $30.37
59,875

5.6
$30.31
 
$
734

 
Total
109,763

5.0
$27.84
 
$
1,617

 
Schedule of Nonvested Share Activity [Table Text Block]
The following table summarizes the performance share activity under the 2007 Plan for the past three fiscal years:
 
Shares (1)
Weighted Average
Grant Date
Fair Value
Non-vested and outstanding at September 30, 2008
61,980

 
$31.84
 
Granted
—

 
—

 
Vested
—

 
—

 
Cancelled/forfeited
—

 
—

 
Non-vested and outstanding at September 30, 2009
61,980

 
$31.84
 
Granted
54,177

 
$30.05
 
Vested (2)
(55,905
)
 
$31.84
 
Cancelled/forfeited
(9,777
)
 
$31.04
 
Non-vested and outstanding at September 30, 2010
50,475

 
$31.07
 
Granted
56,325

 
$
26.24

 
Vested
—

 
$
—

 
Cancelled/forfeited
(773
)
 
$
29.74

 
Non-vested and outstanding at September 30, 2011
106,027

 
$
28.04

 
(1)
The number of common shares issued related to performance shares may range from zero to 150 percent of the number of shares shown in the table above based on the Company's achievement of performance goals associated with NJR total shareowner return relative to a selected peer group of companies.
(2)
The number of common shares related to performance shares earned as of September 30, 2010, was 135 percent , or 75,472 shares. The number represented on this line is the target number of 100 percent. See footnote (1) above.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
The following table summarizes the restricted stock activity under the 2007 Plan for the past three fiscal years:
 
Shares

Weighted Average
Grant Date
Fair Value
Total Fair Value of Vested Shares (in Thousands)
Non-vested and outstanding at September 30, 2008
102,801

 
$
31.80

 
 
—

 
Granted
163,211

 
$
34.00

 
 
—

 
Vested
(154,215
)
 
$
(34.49
)
 
 
$
5,592

 
Cancelled/forfeited
—

 
—

 
 
—

 
Non-vested and outstanding at September 30, 2009
111,797

 
$
31.30

 
 
—

 
Granted
24,312

 
$
36.42

 
 
—

 
Vested
(74,888
)
 
$
(31.28
)
 
 
$
2,749

 
Cancelled/forfeited
(4,856
)
 
$
(33.00
)
 
 
—

 
Non-vested and outstanding at September 30, 2010
56,365

 
$
33.40

 
 
—

 
Granted
62,149

 
$
40.74

 
 
—

 
Vested
(41,201
)
 
$
(32.29
)
 
 
$
1,723

 
Cancelled/forfeited
(216
)
 
$
(36.42
)
 
 
—

 
Non-vested and outstanding at September 30, 2011
77,097

 
$
39.90

 
 
—