Inventories and natural gas in storage

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories and natural gas in storage

Inventories and natural gas in storage

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, 2024		September 30, 2023		December 31, 2023
	(In thousands)
Natural gas in storage (current)	$	40,770	$	29,821	$	39,377
Merchandise for resale	38,311		36,815		34,955
Materials and supplies	6,264		7,824		5,460
Other	6,544		5,775		7,600
Total	$	91,889	$	80,235	$	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 September 30, 2024 and 2023 and December 31, 2023, respectively.