DEBT (Tables)

12 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

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

(Thousands)			2024	2023
NJNG
First mortgage bonds:		Maturity date:
Series OO	3.00%	August 1, 2041	46,500	46,500
Series PP	3.15%	April 15, 2028	50,000	50,000
Series QQ	3.58%	March 13, 2024	—	70,000
Series RR	4.61%	March 13, 2044	55,000	55,000
Series SS	2.82%	April 15, 2025	50,000	50,000
Series TT	3.66%	April 15, 2045	100,000	100,000
Series UU	3.63%	June 21, 2046	125,000	125,000
Series VV	4.01%	May 11, 2048	125,000	125,000
Series WW	3.50%	April 1, 2042	10,300	10,300
Series XX	3.38%	April 1, 2038	10,500	10,500
Series YY	2.45%	April 1, 2059	15,000	15,000
Series ZZ	3.76%	July 17, 2049	100,000	100,000
Series AAA	3.86%	July 17, 2059	85,000	85,000
Series BBB	2.75%	August 1, 2039	9,545	9,545
Series CCC	3.00%	August 1, 2043	41,000	41,000
Series DDD	3.13%	June 30, 2050	50,000	50,000
Series EEE	3.13%	July 23, 2050	50,000	50,000
Series FFF	3.33%	July 23, 2060	25,000	25,000
Series GGG	2.87%	September 1, 2050	25,000	25,000
Series HHH	2.97%	September 1, 2060	50,000	50,000
Series III	2.97%	October 30, 2051	50,000	50,000
Series JJJ	3.07%	October 28, 2061	50,000	50,000
Series LLL	4.37%	May 27, 2037	50,000	50,000
Series MMM	4.71%	May 27, 2052	50,000	50,000
Series NNN	5.47%	October 24, 2052	125,000	125,000
Series OOO	5.56%	September 28, 2033	50,000	50,000
Series PPP	5.85%	October 30, 2053	50,000	—
Series QQQ	5.82%	June 26, 2054	125,000	—
Series RRR	5.49%	September 30, 2034	75,000	—
Meter financing obligation		Various dates	31,574	31,352
Less: Debt issuance costs			(10,899)	(9,770)
Less: Current maturities of long-term debt			(58,649)	(78,477)
Total NJNG long-term debt			1,609,871	1,410,950

NJR			2024		2023
First mortgage bonds:		Maturity date:
Unsecured senior notes	3.48%	November 7, 2024	100,000		100,000
Unsecured senior notes	3.54%	August 18, 2026	100,000		100,000
Unsecured senior notes	3.96%	June 8, 2028	100,000		100,000
Unsecured senior notes	3.29%	July 17, 2029	150,000		150,000
Unsecured senior notes	3.50%	July 23, 2030	130,000		130,000
Unsecured senior notes	3.60%	July 23, 2032	130,000		130,000
Unsecured senior notes	3.13%	September 1, 2031	120,000		120,000
Unsecured senior notes	3.25%	September 1, 2033	80,000		80,000
Unsecured senior notes	4.38%	June 23, 2027	110,000		110,000
Unsecured senior notes	3.64%	September 19, 2034	50,000		50,000
Unsecured senior notes	6.14%	December 15, 2032	50,000		50,000
Less: Debt issuance costs			(3,011)		(3,656)
Less: Current maturities of long-term debt			(100,000)		—
Total NJR long-term debt			1,016,989		1,116,344
CEV
Solar asset financing obligation		Various dates	282,962		278,401
Less: Current maturities of long-term debt			(30,358)		(37,678)
Total CEV long-term debt			252,604		240,723
Total long-term debt			$	2,879,464	$	2,768,017

Schedule of Long-term Debt Redemption Requirements

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

(Thousands)	2025		2026		2027		2028		2029		Thereafter
NJR	$	100,000	$	100,000	$	110,000	$	100,000	$	150,000	$	560,000
NJNG	$	50,000	$	—	$	—	$	50,000	$	—	$	1,547,845

Finance Lease Liability, Maturity

Contractual commitments for meter sale leaseback arrangements, which represent the most likely outcome of cash payments, as of the fiscal years ended September 30, are as follows:

(Thousands)	2025		2026	2027	2028	2029	Thereafter	Subtotal
Future payments	$	9,665	7,906	5,579	6,211	3,171	1,852	$	34,384
Less: Interest component								(2,810)
Total								$	31,574

The following table presents the Company’s maturities of lease liabilities as of September 30, 2024:

(Thousands)	Operating		Finance
2025	$	8,408	$	8,169
2026	8,852		6,411
2027	8,834		4,083
2028	8,925		4,715
2029	8,994		1,676
Thereafter	233,942		—
Total future payments	277,955		25,054
Less: interest	(113,707)		(1,494)
Total liability	$	164,248	$	23,560

Schedule of Contractual Commitments for Finance Lease Payments

Contractual commitments for the solar sale leaseback arrangements, which represent the most likely outcome of cash payments, as of the fiscal years ended September 30, are as follows:

(Thousands)	2025		2026	2027	2028	2029	Thereafter	Subtotal
Future payments	$	57,184	20,396	22,907	34,293	81,586	32,610	$	248,976
Less: Interest component								(43,234)
Total								$	205,742

Schedule of Line of Credit Facilities

The following table summarizes NJR’s credit facility and NJNG’s commercial paper program and credit facility as of September 30:

				At end of period
(Thousands)	As of date	Total borrowing capacity		Loans outstanding		Weighted average interest rate			Remaining borrowing capacity				Expiration dates
NJR bank revolving credit facility (1)
2024		$	575,000	$	236,700		6.23	%		$	325,951	(2)	August 2029
2023		$	650,000	$	217,300		6.53	%		$	426,967	(2)	September 2027
NJNG bank revolving credit facility (3)
2024		$	250,000	$	55,100		4.98	%		$	194,169	(4)	August 2029
2023		$	250,000	$	34,800		5.48	%		$	214,469	(4)	September 2027

(1)Committed credit facility, which requires commitment fees of 0.10% on the unused amount.

(2)Letters of credit outstanding total approximately $12.3M and $5.7M as of September 30, 2024 and 2023, respectively, which reduces the amount available by the same amount.

(3)Committed credit facility, which requires commitment fees of 0.075% on the unused amount.

(4)Letters of credit outstanding total approximately $0.7M at both September 30, 2024 and 2023, which reduces the amount available by the same amount.