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REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables)
 9 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information related to the Company's various reporting segments and other operations during the three months ended June 30, 2024 and 2023, are as follows:
Segments
(Thousands)NJNGCEVESS&TSubtotalHSOElimsTotal
2024
Operating revenues
External customers$157,773 14,648 62,441 (1)24,475 $259,337 16,299 — $275,636 
Intercompany$337 — — — $337 57 (394)$— 
Depreciation and amortization$28,491 6,981 45 (2)6,239 $41,756 308 (1,157)$40,907 
Interest income (3)
$571 — 151 2,574 $3,296 386 (1,447)$2,235 
Interest expense, net of capitalized interest$14,239 7,027 3,946 5,773 $30,985 184 — $31,169 
Income tax (benefit) provision$(1,132)(2,008)(1,553)1,345 $(3,348)640 (56)$(2,764)
Equity in earnings of affiliates$— — — 782 $782 — 558 $1,340 
Net financial (loss) earnings$(6,139)(6,714)(2,244)4,140 $(10,957)881 1,177 $(8,899)
Capital expenditures$110,302 37,013 — 10,917 $158,232 252 — $158,484 
2023
Operating revenues
External customers$144,971 13,178 69,542 (1)21,435 $249,126 14,949 — $264,075 
Intercompany$337 — 630 766 $1,733 6 (1,739)$— 
Depreciation and amortization$25,825 6,672 51 (2)6,102 $38,650 227 — $38,877 
Interest income (3)
$496 — 310 1,841 $2,647 753 (1,010)$2,390 
Interest expense, net of capitalized interest$13,226 7,848 2,467 6,430 $29,971 148 — $30,119 
Income tax provision (benefit)$196 (18,237)(2,934)535 $(20,440)429 (494)$(20,505)
Equity in earnings of affiliates$— — — 377 $377 — 324 $701 
Net financial earnings (loss)$891 7,267 (1,604)2,358 $8,912 523 235 $9,670 
Capital expenditures$102,555 10,905 — 3,450 $116,910 193 — $117,103 
(1)Includes sales to Canada for the ES segment, which are immaterial.
(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.
(3)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.
Information related to the Company's various reporting segments and other operations during the nine months ended June 30, 2024 and 2023, are as follows:
Segments
(Thousands)NJNGCEVESS&TSubtotalHSOElimsTotal
2024
Operating revenues
External customers$913,729 59,268 311,846 (1)70,031 $1,354,874 45,885 — $1,400,759 
Intercompany$1,012 — (4,875)1,348 $(2,515)210 2,305 $— 
Depreciation and amortization$82,872 20,834 158 (2)18,619 $122,483 808 (2,022)$121,269 
Interest income (3)
$1,666 — 422 7,462 $9,550 1,074 (4,327)$6,297 
Interest expense, net of capitalized interest$43,840 21,656 10,585 17,574 $93,655 608 — $94,263 
Income tax provision (benefit)$34,000 (471)11,247 2,996 $47,772 1,108 5,239 $54,119 
Equity in earnings of affiliates$— — — 1,860 $1,860 — 1,878 $3,738 
Net financial earnings (loss)$152,400 (1,808)43,231 9,761 $203,584 665 (2,128)$202,121 
Capital expenditures$287,727 74,096 — 32,225 $394,048 1,738 — $395,786 
2023
Operating revenues
External customers$902,880 40,376 579,494 (1)66,452 $1,589,202 42,467 — $1,631,669 
Intercompany$1,012 — 9,190 3,474 $13,676 202 (13,878)$— 
Depreciation and amortization$76,034 18,713 170 (2)18,064 $112,981 669 — $113,650 
Interest income (3)
$1,285 — 959 4,926 $7,170 2,141 (2,726)$6,585 
Interest expense, net of capitalized interest$40,814 21,059 8,274 19,265 $89,412 459 — $89,871 
Income tax provision (benefit)$38,503 (23,079)23,046 3,074 $41,544 1,134 381 $43,059 
Equity in earnings of affiliates$— — — 2,263 $2,263 — 515 $2,778 
Net financial earnings (loss)$156,252 (5,694)72,054 11,051 $233,663 1,307 (2,706)$232,264 
Capital expenditures$277,226 68,604 — 33,291 $379,121 1,093 — $380,214 
(1)Includes sales to Canada for the ES segment, which are immaterial.
(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.
(3)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.
Schedule of Assets for Business Segments and Business Operations
The Company's assets for the various reporting segments and business operations are detailed below:
SegmentsIntercompany
(Thousands)NJNGCEVESS&TSubtotalHSO
Assets (1)
Total
June 30, 2024$4,612,429 1,166,799 100,522 1,019,064 $6,898,814 181,479 (296,172)$6,784,121 
September 30, 2023$4,414,829 1,128,577 123,775 1,011,959 $6,679,140 171,275 (312,919)$6,537,496 
(1)Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.
Schedule of Reconciliation of Consolidated NFE to Consolidated Net Income A reconciliation of consolidated NFE to consolidated net income is as follows:
Three Months EndedNine Months Ended
June 30,June 30,
(Thousands)2024202320242023
Net financial (loss) earnings$(8,899)$9,670 $202,121 $232,264 
Less:
Unrealized loss (gain) on derivative instruments and related transactions3,803 (12,970)23,860 (30,502)
Tax effect(903)3,083 (5,670)7,250 
Effects of economic hedging related to natural gas inventory(385)24,116 (19,458)36,885 
Tax effect91 (5,731)4,624 (8,766)
Gain on equity method investment— (100)— (300)
Tax effect— 24 — 74 
NFE tax adjustment69 (284)116 (77)
Net (loss) income$(11,574)$1,532 $198,649 $227,700