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COMMON STOCK EQUITY
 6 Months Ended
Mar. 31, 2018
Equity [Abstract]  
COMMON STOCK EQUITY
8. COMMON STOCK EQUITY

Changes in common stock equity during the six months ended March 31, 2018, were as follows:
(Thousands)
Number of Shares
Common Stock
Premium on Common Stock
Accumulated Other Comprehensive (Loss) Income
Treasury Stock And Other
Retained Earnings
Total
Balance at September 30, 2017
86,556

$
222,258

$
219,696

 
$
(3,256
)
 
$
(70,039
)
$
867,984

$
1,236,643

Net income



 

 

263,965

263,965

Other comprehensive loss



 
(10,532
)
 


(10,532
)
Common stock issued:
 
 
 
 
 
 
 
 
 
Incentive plan
555

1,531

14,998

 

 



16,529

Dividend reinvestment plan (1)
242


172

 

 
9,583


9,755

Waiver discount
554

1,384

21,306

 

 


22,690

Cash dividend declared ($.545 per share)



 

 

(47,717
)
(47,717
)
Treasury stock and other
(251
)

(14
)
 

 
(23,945
)

(23,959
)
Balance at March 31, 2018
87,656

$
225,173

$
256,158

 
$
(13,788
)
 
$
(84,401
)
$
1,084,232

$
1,467,374


(1)
Shares sold through the DRP are issued from treasury stock at average cost, which may differ from the actual market price paid.
NJR satisfies its external common equity requirements, if any, through issuances of its common stock, including the proceeds from stock issuances under its DRP. The DRP allows NJR, at its option, to use treasury shares or newly issued shares to raise capital. NJR raised $9.9 million and $9.7 million of equity through the DRP, by issuing approximately 242,000 and 279,000 shares of treasury stock, during the six months ended March 31, 2018 and 2017, respectively. During the six months ended March 31, 2018, NJR raised approximately $22.7 million of equity by issuing approximately 554,000 new shares through the waiver discount feature of the DRP. NJR issued no new shares during the three months ended March 31, 2017.
Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the three months ended March 31, 2018 and 2017:
(Thousands)
Available for Sale Securities
Postemployment Benefit Obligation
Total
Balance at December 31, 2017
$
5,600

 
$
(14,060
)
 
$
(8,460
)
Other comprehensive (loss) income, net of tax
 
 
 
 
 
Other comprehensive (loss),before reclassifications, net of tax of $7,366, $0, $7,366
(20,401
)
 
—

 
(20,401
)
Amounts reclassified from accumulated other comprehensive income, net of tax of $(3,036), $(104), $(3,140)
14,801

 
272

(1) 
15,073

Net current-period other comprehensive (loss) income, net of tax of $4,330, $(104), $4,226
(5,600
)
 
272

 
(5,328
)
Balance at March 31, 2018
$
—

 
$
(13,788
)
 
$
(13,788
)
Balance at December 31, 2016
$
9,713

 
$
(19,036
)
 
$
(9,323
)
Other comprehensive income, net of tax
 
 
 
 
 
Other comprehensive income, before reclassifications, net of tax of $(1,808), $0, $(1,808)
3,054

 
—

 
3,054

Amounts reclassified from accumulated other comprehensive (loss) income, net of tax of $1,138, $(217), $921
(1,646
)
 
318

(1) 
(1,328
)
Net current-period other comprehensive income, net of tax of $(670), $(217), $(887)
1,408

 
318

 
1,726

Balance as of March 31, 2017
$
11,121

 
$
(18,718
)
 
$
(7,597
)

The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the six months ended March 31, 2018 and 2017:
(Thousands)
Available for Sale Securities
Postemployment Benefit Obligation
Total
Balance at September 30, 2017
$
11,044

 
$
(14,300
)
 
$
(3,256
)
Other comprehensive (loss) income, net of tax
 
 
 
 
 
Other comprehensive (loss), before reclassifications, net of tax of $8,217, $0, $8,217
(22,691
)
 
—

 
(22,691
)
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax of $(858), $(240), $(1,098)
11,647

 
512

(1) 
12,159

Net current-period other comprehensive (loss) income, net of tax of $7,359, $(240), $7,119
(11,044
)
 
512

 
(10,532
)
Balance at March 31, 2018
$
—

 
$
(13,788
)
 
$
(13,788
)
 
 
 
 
 
 
Balance as of September 30, 2016
$
4,198

 
$
(19,353
)
 
$
(15,155
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
Other comprehensive income, before reclassifications, net of tax of $(6,648), $0, $(6,648)
10,096

 
—

 
10,096

Amounts reclassified from accumulated other comprehensive (loss) income, net of tax of $2,192, $(434), $1,758
(3,173
)
 
635

(1) 
(2,538
)
Net current-period other comprehensive income, net of tax of $(4,456), $(434), $(4,890)
6,923

 
635

 
7,558

Balance as of March 31, 2017
$
11,121

 
$
(18,718
)
 
$
(7,597
)
(1)
Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations.