Inventories and natural gas in storage

3 Months Ended

Mar. 31, 2022

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:


	March 31, 2022		March 31, 2021		December 31, 2021
	(In thousands)
Aggregates held for resale	$	195,489	$	180,450	$	184,363
Asphalt oil	93,816		59,853		57,002
Materials and supplies	35,967		26,481		30,629
Merchandise for resale	33,393		24,319		28,501
Natural gas in storage (current)	10,801		8,113		18,867
Other	10,850		17,521		16,247
Total	$	380,316	$	316,737	$	335,609

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 $47.5 million at March 31, 2022 and 2021, and December 31, 2021.