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BUSINESS SEGMENT AND OTHER OPERATIONS DATA (Tables)
 9 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information related to the Company's various business segments and other operations is detailed below:
 
Three Months Ended
Nine Months Ended
 
June 30,
June 30,
(Thousands)
2013
2012
2013
2012
Operating revenues
 
 
 
 
Natural Gas Distribution
 
 
 
 
External customers
$
119,022

$
106,764

$
689,621

$
524,161

Clean Energy Ventures
 
 
 
 
External customers
2,563

370

7,182

1,277

Energy Services
 
 
 
 
External customers
632,414

306,273

1,735,411

1,126,435

Intercompany
1,119

(32
)
5,670

2,816

Segment subtotal
755,118

413,375

2,437,884

1,654,689

Retail and Other
 
 
 
 
External customers
13,470

11,714

32,159

28,580

Intercompany
234

278

683

720

Eliminations
(1,353
)
(246
)
(6,353
)
(3,536
)
Total
$
767,469

$
425,121

$
2,464,373

$
1,680,453

Depreciation and amortization
 
 
 
 
Natural Gas Distribution
$
9,537

$
8,860

$
28,213

$
26,241

Clean Energy Ventures
2,196

1,632

6,131

3,953

Energy Services
10

16

32

48

Midstream Investments
2

1

5

4

Segment subtotal
11,745

10,509

34,381

30,246

Retail and Other
196

178

586

480

Eliminations
1

—

(1
)
—

Total
$
11,942

$
10,687

$
34,966

$
30,726

Interest income (1)
 
 
 
 
Natural Gas Distribution
$
146

$
223

$
459

$
683

Energy Services
—

10

—

36

Midstream Investments
265

267

799

800

Segment subtotal
411

500

1,258

1,519

Retail and Other
(1
)
1

1

2

Eliminations
(217
)
(248
)
(667
)
(751
)
Total
$
193

$
253

$
592

$
770

(1)
Included in other income on the Unaudited Condensed Consolidated Statements of Operations.

 
Three Months Ended
Nine Months Ended
 
June 30,
June 30,
(Thousands)
2013
2012
2013
2012
Interest expense, net of capitalized interest
 
 
 
 
Natural Gas Distribution
$
3,796

$
3,717

$
10,929

$
11,167

Clean Energy Ventures
870

190

2,475

530

Energy Services
615

214

1,823

729

Midstream Investments
466

653

1,533

2,050

Segment subtotal
5,747

4,774

16,760

14,476

Retail and Other
261

60

819

790

Total
$
6,008

$
4,834

$
17,579

$
15,266

Income tax provision (benefit)
 
 
 
 
Natural Gas Distribution
$
1,788

$
1,114

$
39,089

$
43,726

Clean Energy Ventures
(1,477
)
(3,013
)
(15,703
)
(30,010
)
Energy Services
12,945

(11,511
)
23,906

(2,108
)
Midstream Investments
1,073

1,126

3,935

3,750

Segment subtotal
14,329

(12,284
)
51,227

15,358

Retail and Other
1,378

1,056

349

685

Eliminations
(410
)
(2
)
(234
)
(142
)
Total
$
15,297

$
(11,230
)
$
51,342

$
15,901

Equity in earnings of affiliates
 
 
 
 
Midstream Investments
$
3,052

$
3,547

$
11,012

$
11,129

Eliminations
(830
)
(903
)
(2,705
)
(2,813
)
Total
$
2,222

$
2,644

$
8,307

$
8,316

Net financial earnings (loss)
 
 
 
 
Natural Gas Distribution
$
5,528

$
7,545

$
76,937

$
78,455

Clean Energy Ventures
(1,381
)
(1,157
)
9,078

20,802

Energy Services
2,097

(5,425
)
21,479

18,061

Midstream Investments
1,541

1,634

5,600

5,438

Segment subtotal
7,785

2,597

113,094

122,756

Retail and Other
1,944

1,549

813

860

Eliminations
9

(16
)
(12
)
(52
)
Total
$
9,738

$
4,130

$
113,895

$
123,564

Capital expenditures
 
 
 
 
Natural Gas Distribution
$
29,141

$
33,405

$
94,840

$
82,550

Clean Energy Ventures
14,891

13,457

39,756

75,243

Segment subtotal
44,032

46,862

134,596

157,793

Retail and Other
234

109

532

568

Total
$
44,266

$
46,971

$
135,128

$
158,361
Reconciliation of Consolidated Net Financial Earnings to Consolidated Net Income
A reconciliation of consolidated net financial earnings to consolidated net income is as follows:
 
Three Months Ended
Nine Months Ended
 
June 30,
June 30,
(Thousands)
2013
2012
2013
2012
Consolidated net financial earnings
$
9,738

$
4,130

$
113,895

$
123,564

Less:
 
 
 
 
Unrealized (gain) loss from derivative instruments and related transactions, net of taxes (1) (2)
(27,915
)
20,834

(14,975
)
11,126

Effects of economic hedging related to natural gas inventory, net of taxes (3)
8,498

(6,384
)
(5,960
)
10,866

Consolidated net income (loss)
$
29,155

$
(10,320
)
$
134,830

$
101,572


(1)
Excludes unrealized losses (gains) related to an intercompany transaction between NJNG and NJRES that have been eliminated in consolidation of approximately $708,000 and $(20,000) for the three months ended and $398,000 and $177,000 for the nine months ended June 30, 2013 and 2012, respectively.
(2)
Amounts are net of taxes of approximately $(17.1) million and $12.1 million, for the three months ended and $(9.2) million and $6.3 million for the nine months ended June 30, 2013 and 2012, respectively.
(3)
Amounts are net of taxes of approximately $4.9 million and $(3.7) million for the three months ended and $(3.5) million and $6.3 million for the nine months ended June 30, 2013 and 2012, respectively.
Reconciliation of Assets from Segment to Consolidated
The Company's assets for the various business segments and business operations are detailed below:
(Thousands)
June 30,
2013
September 30,
2012
Assets at end of period:
 
 
Natural Gas Distribution
$
2,062,913

$
2,005,520

Clean Energy Ventures
253,680

223,247

Energy Services
497,941

347,406

Midstream Investments
156,135

157,779

Segment subtotal
2,970,669

2,733,952

Retail and Other
86,920

73,298

Eliminations (1)
(66,394
)
(37,245
)
Total
$
2,991,195

$
2,770,005

(1)
Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.