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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Sep. 30, 2023
PROPERTY, PLANT AND EQUIPMENT    
Utility plant, at cost $ 4,221,395 $ 3,843,037
Construction work in progress 233,295 237,428
Nonutility plant and equipment, at cost 1,834,956 1,767,306
Construction work in progress 206,869 142,768
Total property, plant and equipment 6,496,515 5,990,539
Accumulated depreciation and amortization, utility plant (786,594) (714,087)
Accumulated depreciation and amortization, nonutility plant and equipment (306,698) (254,397)
Property, plant and equipment, net 5,403,223 5,022,055
CURRENT ASSETS    
Cash and cash equivalents 1,017 954
Customer accounts receivable:    
Billed 105,531 97,540
Unbilled revenues 20,094 19,100
Allowance for doubtful accounts (8,506) (11,036)
Regulatory assets 73,070 73,587
Natural gas in storage, at average cost 199,125 199,501
Materials and supplies, at average cost 38,484 27,022
Prepaid expenses 11,754 9,741
Prepaid taxes 67,066 43,046
Derivatives, at fair value 6,813 30,755
Restricted broker margin accounts 13,243 20,796
Other current assets 26,904 21,071
Total current assets 554,595 532,077
NONCURRENT ASSETS    
Investments in equity method investees 101,744 104,134
Regulatory assets 609,192 584,830
Operating lease assets 184,485 175,740
Derivatives, at fair value 806 1,564
Software costs 10,522 8,375
Deferred income taxes 20,751 28,383
Postemployment employee benefit assets 24,660 18,684
Other noncurrent assets 71,667 61,654
Total noncurrent assets 1,023,827 983,364
Total assets 6,981,645 6,537,496
CAPITALIZATION    
Common stock, $2.50 par value; authorized 150,000,000 shares; outstanding shares September 30, 2024 — 99,461,448; September 30, 2023 — 97,584,455 248,159 243,458
Premium on common stock 633,811 558,654
Accumulated other comprehensive loss, net of tax (6,521) (9,959)
Treasury stock at cost and other; shares September 30, 2024 — 16,302; September 30, 2023 — 13,041 26,220 20,748
Retained earnings 1,298,774 1,177,834
Common stock equity 2,200,443 1,990,735
Long-term debt 2,879,464 2,768,017
Total capitalization 5,079,907 4,758,752
CURRENT LIABILITIES    
Current maturities of long-term debt 189,006 116,155
Short-term debt 291,800 252,100
Natural gas purchases payable 57,515 51,277
Deferred revenue 21,572 61,404
Accounts payable and other 169,232 151,790
Dividends payable 44,752 40,981
Accrued taxes 10,593 10,090
Regulatory liabilities 32,981 32,287
New Jersey Clean Energy Program 18,491 15,804
Derivatives, at fair value 6,271 16,145
Restricted broker margin accounts 1,146 8,029
Operating lease liabilities 4,945 4,772
Customers’ credit balances and deposits 38,595 44,910
Total current liabilities 887,774 806,603
NONCURRENT LIABILITIES    
Deferred income taxes 358,783 285,427
Deferred investment tax credits 2,156 2,434
Deferred revenue 3,095 659
Derivatives, at fair value 11,490 7,967
Manufactured gas plant remediation 161,650 169,390
Postemployment employee benefit liabilities 64,609 102,528
Regulatory liabilities 175,847 180,458
Operating lease liabilities 159,303 148,023
Asset retirement obligations 66,698 61,993
Other noncurrent liabilities 10,333 13,262
Total noncurrent liabilities 1,013,964 972,141
Commitments and contingent liabilities (Note 14)
Total capitalization and liabilities 6,981,645 6,537,496
Related Party    
CURRENT LIABILITIES    
Natural gas purchases payable to related parties $ 875 $ 859