Inventories and natural gas in storage

6 Months Ended

Jun. 30, 2025

Natural gas in storage 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, 2025		June 30, 2024		December 31, 2024
	(In thousands)
Natural gas in storage (current)	$	14,937	$	16,363	$	40,073
Fuel stock	4,776		4,799		4,867
Total	$	19,713	$	21,162	$	44,940

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 $48.5 million, $50.1 million and $48.5 million at June 30, 2025 and 2024 and December 31, 2024, respectively.