Inventories and natural gas in storage

3 Months Ended

Mar. 31, 2024

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, 2024		March 31, 2023		December 31, 2023
	(In thousands)
Merchandise for resale	38,280		29,934		34,955
Natural gas in storage (current)	9,309		8,662		39,377
Materials and supplies	$	3,636	$	7,064	$	5,460
Other	6,204		6,959		7,600
Total	$	57,429	$	52,619	$	87,392

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 $50.1 million, $47.4 million and $48.5 million at March 31, 2024 and 2023 and December 31, 2023, respectively.