Inventories and natural gas in storage

9 Months Ended

Sep. 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:



	September 30, 2014		September 30, 2013		December 31, 2013
	(In thousands)
Aggregates held for resale	$	106,623	$	104,784	$	101,568
Asphalt oil	33,551		43,078		38,099
Materials and supplies	71,515		71,370		69,808
Merchandise for resale	24,566		23,713		21,720
Natural gas in storage (current)	29,979		37,689		16,417
Other	36,471		33,937		34,779
Total	$	302,705	$	314,571	$	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 September 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.

+ References+ Details