Inventories and natural gas in storage

6 Months Ended

Jun. 30, 2014

Inventories, other than natural gas in storage for the Company's regulated operations, are stated at the lower of average cost or market value. Natural gas in storage for the Company's regulated operations is generally carried at average cost, or cost using the last-in, first-out method. The portion of the cost of natural gas in storage expected to be used within one year is included in inventories. Inventories consisted of:



	June 30, 2014		June 30, 2013		December 31, 2013
	(In thousands)
Aggregates held for resale	$	112,129	$	103,503	$	101,568
Asphalt oil	76,525		91,837		38,099
Materials and supplies	70,938		74,648		69,808
Merchandise for resale	25,507		27,330		21,720
Natural gas in storage (current)	10,903		14,287		16,417
Other	35,420		34,280		34,779
Total	$	331,422	$	345,885	$	282,391

The remainder of natural gas in storage, which largely represents the cost of gas required to maintain pressure levels for normal operating purposes, is included in other assets and was $47.4 million, $48.6 million and $48.3 million at June 30, 2014 and 2013, and December 31, 2013, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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