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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Assets Held for Sale and Liabilities Held for Sale
As a result, SJI has recorded the following in Assets Held for Sale and Liabilities Held for Sale on the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 (in thousands):

March 31, 2020December 31, 2019
Assets Held for Sale:
   Current Assets$—  $5,365  
   Net Utility Plant19,293  18,692  
   Net Nonutility Property, Plant & Equipment19,993  110,400  
   Goodwill59  59  
   Regulatory Assets455  415  
   Other Noncurrent Assets29  8,509  
      Total Assets Held for Sale$39,829  $143,440  
Liabilities Held for Sale:
   Current Liabilities$—  $916  
   Asset Retirement Obligations2,609  2,515  
   Regulatory Liabilities3,025  2,583  
   Other Noncurrent Liabilities170  29  
      Total Liabilities Held for Sale$5,804  $6,043  
Summarized operating results of the discontinued operations for the three months ended March 31, 2020 and 2019, were (in thousands, except per share amounts):
Three Months Ended
March 31,
 20202019
Loss before Income Taxes:  
Sand Mining$(19) $(21) 
Fuel Oil(56) (57) 
Income Tax Benefits16  16  
Loss from Discontinued Operations — Net$(59) $(62) 
Earnings Per Common Share from  
Discontinued Operations — Net:  
Basic and Diluted$—  $—  
Schedule of Asset Management Agreement Contract Purchase The total purchase price was allocated as follows (in thousands):
Natural Gas in Storage$9,685  
Intangible Asset19,200  
Profit Sharing - Other Liabilities(17,546) 
   Total Consideration$11,339