DEBT (Tables)

12 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The following table presents the long-term debt of the Company as of September 30:

(Thousands)			2018			2017
NJNG
First mortgage bonds:		Maturity date:
5.60%	Series LL	May 15, 2018	$	—		$	125,000
Variable	Series MM	September 1, 2027	9,545			9,545
Variable	Series NN	August 1, 2035	41,000			41,000
Variable	Series OO	August 1, 2041	46,500			46,500
3.15%	Series PP	April 15, 2028	50,000			50,000
3.58%	Series QQ	March 13, 2024	70,000			70,000
4.61%	Series RR	March 13, 2044	55,000			55,000
2.82%	Series SS	April 15, 2025	50,000			50,000
3.66%	Series TT	April 15, 2045	100,000			100,000
3.63%	Series UU	June 21, 2046	125,000			125,000
4.01%	Series VV	May 11, 2048	125,000			—
Capital lease obligation-buildings		June 1, 2021	8,749			11,617
Capital lease obligation-meters		Various dates	27,188			28,042
Less: Debt issuance costs			(6,515		)	(6,262		)
Less: Current maturities of long-term debt			(9,502		)	(135,800		)
Total NJNG long-term debt			691,965			569,642
NJR
2.51%	Unsecured senior notes	September 15, 2018	—			25,000
3.25%	Unsecured senior notes	September 17, 2022	50,000			50,000
3.48%	Unsecured senior notes	November 7, 2024	100,000			100,000
3.20%	Unsecured senior notes	August 18, 2023	50,000			50,000
3.54%	Unsecured senior notes	August 18, 2026	100,000			100,000
3.96%	Unsecured senior notes	June 8, 2028	100,000			—
Variable	Term loan	August 16, 2019	100,000			100,000
Less: Debt issuance costs			(1,136		)	(770		)
Less: Current maturities of long-term debt			(100,000		)	(25,000		)
Total NJR long-term debt			398,864			399,230
Clean Energy Ventures
Solar asset financing obligation		Various dates	103,923			32,790
Less: Current maturities of long-term debt			(14,133		)	(4,582		)
Total Clean Energy Ventures long-term debt			89,790			28,208
Total long-term debt			$	1,180,619		$	997,080

Schedule of Long-term Debt Redemption Requirements

Annual long-term debt redemption requirements, excluding capital leases, debt issuance costs and solar asset financing obligations, as of September 30, are as follows:

(Thousands)	NJNG		NJR
2019	$	—	$	100,000
2020	$	—	$	—
2021	$	—	$	—
2022	$	—	$	50,000
2023	$	—	$	50,000
Thereafter	$	672,045	$	300,000

Schedule of Contractual Commitments for Capital Lease Payments

Contractual commitments for capital lease payments, as of the fiscal years ended September 30, are as follows:

(Thousands)	Lease Payments
2019		$	10,932
2020		7,989
2021		9,236
2022		3,775
2023		2,393
Thereafter		5,245
Subtotal		39,570
Less: Interest component		(3,633		)
Total		$	35,937

Contractual commitments for solar sale-leaseback lease payments, as of the fiscal years ended September 30, are as follows:

(Thousands)	Lease Payments
2019		$	9,794
2020		7,830
2021		7,803
2022		7,802
2023		7,878
Thereafter		38,303
Subtotal		79,410
Less: Interest component		(26,728		)
Total		$	52,682

Summary of Short-Term Bank Facilities

A summary of NJR’s and NJNG’s short-term bank facilities as of September 30, are as follows:

(Thousands)	2018			2017
NJR
Bank revolving credit facilities:(1)	$	425,000		$	425,000
Notes outstanding at end of period	$	87,950		$	255,000
Weighted average interest rate at end of period	3.07		%	2.14		%
Amount available at end of period (2)	$	322,144		$	156,601
NJNG
Bank revolving credit facilities: (3)	$	250,000		$	250,000
Commercial paper outstanding at end of period	$	64,000		$	11,000
Weighted average interest rate at end of period	2.18		%	1.13		%
Amount available at end of period (4)	$	185,269		$	238,269

(1) Committed credit facilities, which require commitment fees of .075 percent on the unused amounts.

(2) Letters of credit outstanding total $14.9 million and $13.4 million as of September 30, 2018 and 2017, respectively, which reduces amount available by the same amount.

(3) Committed credit facilities, which require commitment fees of .075 percent on the unused amounts.

(4) Letters of credit outstanding total $731,000 as of September 30, 2018 and 2017, which reduces amount available by the same amount.