Inventories and natural gas in storage

9 Months Ended

Sep. 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:


	September 30, 2020		September 30, 2019		December 31, 2019
	(In thousands)
Aggregates held for resale	$	168,132	$	143,157	$	147,723
Asphalt oil	27,587		39,269		41,912
Materials and supplies	26,609		25,696		22,512
Merchandise for resale	21,525		23,902		22,232
Natural gas in storage (current)	27,135		32,164		22,058
Other	15,235		21,869		21,970
Total	$	286,223	$	286,057	$	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 September 30, 2020 and 2019, and December 31, 2019, respectively.