Inventories and natural gas in storage

6 Months Ended

Jun. 30, 2020

Natural gas in storage for the Company's regulated operations is generally valued at lower of cost or market using the last-in, first-out method or lower of cost or net realizable value using the average cost or first-in, first-out method. The majority of all other inventories are valued at the lower of cost or net realizable value using the average cost method. The portion of the cost of natural gas in storage expected to be used within 12 months was included in inventories. Inventories on the Consolidated Balance Sheets were as follows:


	June 30, 2020		June 30, 2019		December 31, 2019
	(In thousands)
Aggregates held for resale	$	165,357	$	147,030	$	147,723
Asphalt oil	57,207		80,418		41,912
Materials and supplies	27,805		28,746		22,512
Merchandise for resale	22,974		27,167		22,232
Natural gas in storage (current)	11,776		15,841		22,058
Other	17,718		26,742		21,970
Total	$	302,837	$	325,944	$	278,407

The remainder of natural gas in storage, which largely represents the cost of gas required to maintain pressure levels for normal operating purposes, was included in noncurrent assets - other and was $48.3 million, $48.2 million and $48.4 million at June 30, 2020 and 2019, and December 31, 2019, respectively.