LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Related Party Transaction [Line Items]

Schedule of Long-term Debt

Outstanding Long-Term Debt at December 31 consisted of the following:

		2019		2018
Long-Term Debt (A):
SJG:
First Mortgage Bonds: (B)
5.587%	Series due 2019 (C)	—		10,000
3.00%	Series due 2024 (D)	50,000		50,000
3.03%	Series due 2024 (E)	35,000		35,000
3.63%	Series due 2025 (F)	5,455		6,364
4.84%	Series due 2026 (G)	15,000		15,000
4.93%	Series due 2026 (H)	45,000		45,000
4.03%	Series due 2027 (H)	45,000		45,000
4.01%	Series due 2030 (I)	34,000		42,000
4.23%	Series due 2030	30,000		30,000
3.74%	Series due 2032 (J)	35,000		35,000
5.55%	Series due 2033	32,000		32,000
6.213%	Series due 2034	10,000		10,000
5.45%	Series due 2035	10,000		10,000
3.00%	Series due 2047	200,000		200,000
Series A 2006 Bonds at variable rates due 2036 (K)		24,900		24,900
SJG Term Loan (L)		400,000		310,000
Total SJG Long-Term Debt Outstanding (T)		$	971,355	$	900,264
Less SJG Current Maturities		(417,909)		(18,909)
Total SJG Long-Term Debt (T)		$	553,446	$	881,355
SJI:
3.30%	Series due 2019 (M)	—		60,000
3.30%	Series due 2019 (M)	—		30,000
3.30%	Series due 2019 (M)	—		50,000
3.71%	Series C 2012 Notes due 2022	35,000		35,000
3.47%	Series due 2024	25,000		25,000
3.71%	Series due 2027	25,000		25,000
3.57%	Series 2017A-2 due 2025	25,000		25,000
3.81%	Series 2017B-2 due 2028	25,000		25,000
3.43%	Series 2018A due 2021	90,000		90,000
4.07%	Series 2018B due 2028	80,000		80,000
4.17%	Series 2018C due 2030	80,000		80,000
5.625%	Junior Subordinated Notes due 2079 (N)	200,000		$	—
Series Notes at variable rates due 2019 (M)		—		40,000
Series Notes at variable rates due 2019 (M)		—		60,000
South Jersey Industries Term Loan at variable rates due 2020 (O)		50,000		50,000
Convertible Equity Units (M, P)		287,500		287,500
Series 2018D Notes at variable rates due 2019 (Q)		—		475,000
ETG:
First Mortgage Bonds
4.02%	Series 2018A-1 due 2028 (R)	50,000		50,000
4.22%	Series 2018A-2 due 2033 (R)	55,000		55,000
4.29%	Series 2018A-3 due 2038 (R)	150,000		150,000

4.37%	Series 2018A-4 due 2048 (R)	200,000		200,000
4.52%	Series 2018A-5 due 2058 (R)	75,000		75,000
2.84%	Series 2019 A-1 due 2029 (S)	40,000		—
2.84%	Series 2019 A-2 due 2029 (S)	35,000		—
2.94%	Series 2019 A-3 due 2031 (S)	25,000		—
2.94%	Series 2019 A-4 due 2031 (S)	45,000		—
Total SJI Consolidated Long-Term Debt Outstanding (T)		$	2,568,855	$	2,867,764
Less SJI Consolidated Current Maturities		(467,909)		(733,909)
Total SJI Consolidated Long-Term Debt (T)		$	2,100,946	$	2,133,855

(A) Long-term debt maturities for SJI for the succeeding five years are as follows (in thousands): 2020: $467,909; 2021: $405,409; 2022: $66,084; 2023: $40,084; and 2024: $65,084. Long-term debt maturities for SJG for the succeeding five years are as follows (in thousands): 2020: $417,909; 2021: $27,909; 2022: $31,084; 2023: $40,084; and 2024: $40,084. Regarding the debt that is due within one year, the Company has intentions to either pay down or refinance this debt, see Note 1.

(B) SJG has a First Mortgage Indenture, which provides for the issuance by SJG of bonds, notes or other securities that are secured by a lien on substantially all of the operating properties and franchises of SJG.

(C) In 2019, SJG retired $10.0 million of 5.587% MTN's.

(D)SJG has $50.0 million of 3.00% MTN's, with $10.0 million due annually beginning September 2020 with the final payment due September 2024.

(E)SJG has $35.0 million of 3.03% MTN's, with $7.0 million due annually beginning November 2020 with the final payment due November 2024.

(F)SJG pays $0.9 million annually toward the principal amount of 3.63% MTN's, with the final payment to be made December 2025. As such, $0.9 million of the total outstanding amount on this debt is classified in current portion of long-term debt on the consolidated balance sheets as it is due within one year.

(G)SJG has $15.0 million of 4.84% MTN's, with $2.5 million due annually beginning March 2021 with the final payment due March 2026.

(H)SJG has $45.0 million of 4.93% MTN's, with $7.5 million due annually beginning June 2021 with the final payment due June 2026. SJG also has $45.0 million of 4.03% MTN's, with $9.0 million due annually beginning in December 2023 with the final payment due in December 2027.

(I) SJG initially entered into $42.0 million of 4.01% MTN's with several due dates, as follows: $8.0 million paid November 2019; $2.0 million due November 2025; $3.0 million due November 2026; $8.0 million due November 2027; and $7.0 million each due November 2028, 2029 and 2030.

(J) SJG has $35.0 million of 3.74% MTN's, with $3.175 million due annually beginning April 2022 with final payment due April 2032.

(K) These variable rate demand bonds bear interest at a floating rate that resets weekly. The interest rate as of December 31, 2019 was 1.05%. Liquidity support on these bonds is provided under a separate letter of credit facility that expires in August 2021. These bonds contain no financial covenants.

(L) In October 2018, SJG entered into an unsecured, $400.0 million term loan credit agreement (the “Credit Agreement”), which is syndicated among eight banks. Under the Credit Agreement, the Company had the ability to borrow up to an aggregate of $400.0 million from time to time until October 26, 2019. All loans under the Credit Agreement become due and payable on April 26, 2020. As of December 31, 2018, SJG borrowed $310.0 million under this agreement and, during 2019, borrowed the remaining $90.0 million, resulting in total borrowings of $400.0 million as of December 31, 2019, which is recorded in current portion of long-term debt on the consolidated balance sheets.

(M) SJI paid off the following: $60.0 million principal amount outstanding on its 3.30% Senior Notes, Series 2014A-1; $40.0 million principal amount outstanding on its Floating Rate Senior Notes, Series 2014B-1; $30.0 million principal amount outstanding on its 3.30% Senior Notes, Series 2014A-2; $50.0 million principal amount outstanding on its 3.30% Senior Notes, Series 2014A-3; and $60.0 million principal amount outstanding on its Floating Rate Senior Notes, Series 2014B-2.

(N) SJI offered and sold $200.0 million aggregate principal amount of the Company's 5.625% Junior Subordinated Notes due 2079. The total net cash proceeds, inclusive of a debt discount of $5.3 million, were $194.7 million.

(O) At December 31, 2019, the floating rate on this Term Loan was 2.88%.

(P) In April 2018, SJI completed a public offering of Equity Units for gross proceeds of $287.5 million (see Note 6). As of December 31, 2019, these Equity Units were not converted into equity.

(Q) In 2019, SJI repaid $475.0 million aggregate principal amount outstanding on its Floating Rate Senior Notes, Series 2018D.

(R) In December 2018, ETG issued $530.0 million aggregate principal amount of its First Mortgage Bonds, Series 2018A, which were issued in five Tranches as shown in the table above. These bonds were issued under that First Mortgage Indenture dated as of July 2, 2018 between ETG and a Trustee, as supplemented by that First Supplement dated as of December 20, 2018, pursuant to a BPA dated as of December 20, 2018 between ETG and the purchasers named therein. The proceeds from the sale of these bonds were used to repay short-term indebtedness under a previous $530.0 million, 364-day term loan credit agreement dated as of June 26, 2018 among ETG (Borrower), SJI (Guarantor), the lenders party thereto and Bank of America, N.A., as Administrative Agent. Prior to repayment, the term loans bore interest at a variable base rate or a variable LIBOR at the election of the Company.

(S) ETG entered into a Bond Purchase Agreement and issued First Mortgage Bonds, Series 2019A-1 through Series 2019A-4, in the aggregate principal amount of $145.0 million.

(T) Total SJI consolidated Long-Term Debt in the table above does not include unamortized debt issuance costs of $25.5 million and $27.0 million as of December 31, 2019 and 2018, respectively, nor does it include $5.3 million of unamortized debt discounts as of December 31, 2019. Total SJG Long-Term Debt in the table above does not include unamortized debt issuance costs of $6.3 million and $6.8 million as of December 31, 2019 and 2018, respectively.

South Jersey Gas Company

Related Party Transaction [Line Items]

Schedule of Long-term Debt

Outstanding Long-Term Debt at December 31 consisted of the following:

		2019		2018
Long-Term Debt (A):
SJG:
First Mortgage Bonds: (B)
5.587%	Series due 2019 (C)	—		10,000
3.00%	Series due 2024 (D)	50,000		50,000
3.03%	Series due 2024 (E)	35,000		35,000
3.63%	Series due 2025 (F)	5,455		6,364
4.84%	Series due 2026 (G)	15,000		15,000
4.93%	Series due 2026 (H)	45,000		45,000
4.03%	Series due 2027 (H)	45,000		45,000
4.01%	Series due 2030 (I)	34,000		42,000
4.23%	Series due 2030	30,000		30,000
3.74%	Series due 2032 (J)	35,000		35,000
5.55%	Series due 2033	32,000		32,000
6.213%	Series due 2034	10,000		10,000
5.45%	Series due 2035	10,000		10,000
3.00%	Series due 2047	200,000		200,000
Series A 2006 Bonds at variable rates due 2036 (K)		24,900		24,900
SJG Term Loan (L)		400,000		310,000
Total SJG Long-Term Debt Outstanding (T)		$	971,355	$	900,264
Less SJG Current Maturities		(417,909)		(18,909)
Total SJG Long-Term Debt (T)		$	553,446	$	881,355
SJI:
3.30%	Series due 2019 (M)	—		60,000
3.30%	Series due 2019 (M)	—		30,000
3.30%	Series due 2019 (M)	—		50,000
3.71%	Series C 2012 Notes due 2022	35,000		35,000
3.47%	Series due 2024	25,000		25,000
3.71%	Series due 2027	25,000		25,000
3.57%	Series 2017A-2 due 2025	25,000		25,000
3.81%	Series 2017B-2 due 2028	25,000		25,000
3.43%	Series 2018A due 2021	90,000		90,000
4.07%	Series 2018B due 2028	80,000		80,000
4.17%	Series 2018C due 2030	80,000		80,000
5.625%	Junior Subordinated Notes due 2079 (N)	200,000		$	—
Series Notes at variable rates due 2019 (M)		—		40,000
Series Notes at variable rates due 2019 (M)		—		60,000
South Jersey Industries Term Loan at variable rates due 2020 (O)		50,000		50,000
Convertible Equity Units (M, P)		287,500		287,500
Series 2018D Notes at variable rates due 2019 (Q)		—		475,000
ETG:
First Mortgage Bonds
4.02%	Series 2018A-1 due 2028 (R)	50,000		50,000
4.22%	Series 2018A-2 due 2033 (R)	55,000		55,000
4.29%	Series 2018A-3 due 2038 (R)	150,000		150,000

4.37%	Series 2018A-4 due 2048 (R)	200,000		200,000
4.52%	Series 2018A-5 due 2058 (R)	75,000		75,000
2.84%	Series 2019 A-1 due 2029 (S)	40,000		—
2.84%	Series 2019 A-2 due 2029 (S)	35,000		—
2.94%	Series 2019 A-3 due 2031 (S)	25,000		—
2.94%	Series 2019 A-4 due 2031 (S)	45,000		—
Total SJI Consolidated Long-Term Debt Outstanding (T)		$	2,568,855	$	2,867,764
Less SJI Consolidated Current Maturities		(467,909)		(733,909)
Total SJI Consolidated Long-Term Debt (T)		$	2,100,946	$	2,133,855

(A) Long-term debt maturities for SJI for the succeeding five years are as follows (in thousands): 2020: $467,909; 2021: $405,409; 2022: $66,084; 2023: $40,084; and 2024: $65,084. Long-term debt maturities for SJG for the succeeding five years are as follows (in thousands): 2020: $417,909; 2021: $27,909; 2022: $31,084; 2023: $40,084; and 2024: $40,084. Regarding the debt that is due within one year, the Company has intentions to either pay down or refinance this debt, see Note 1.

(B) SJG has a First Mortgage Indenture, which provides for the issuance by SJG of bonds, notes or other securities that are secured by a lien on substantially all of the operating properties and franchises of SJG.

(C) In 2019, SJG retired $10.0 million of 5.587% MTN's.

(D)SJG has $50.0 million of 3.00% MTN's, with $10.0 million due annually beginning September 2020 with the final payment due September 2024.

(E)SJG has $35.0 million of 3.03% MTN's, with $7.0 million due annually beginning November 2020 with the final payment due November 2024.

(F)SJG pays $0.9 million annually toward the principal amount of 3.63% MTN's, with the final payment to be made December 2025. As such, $0.9 million of the total outstanding amount on this debt is classified in current portion of long-term debt on the consolidated balance sheets as it is due within one year.

(G)SJG has $15.0 million of 4.84% MTN's, with $2.5 million due annually beginning March 2021 with the final payment due March 2026.

(H)SJG has $45.0 million of 4.93% MTN's, with $7.5 million due annually beginning June 2021 with the final payment due June 2026. SJG also has $45.0 million of 4.03% MTN's, with $9.0 million due annually beginning in December 2023 with the final payment due in December 2027.

(I) SJG initially entered into $42.0 million of 4.01% MTN's with several due dates, as follows: $8.0 million paid November 2019; $2.0 million due November 2025; $3.0 million due November 2026; $8.0 million due November 2027; and $7.0 million each due November 2028, 2029 and 2030.

(J) SJG has $35.0 million of 3.74% MTN's, with $3.175 million due annually beginning April 2022 with final payment due April 2032.

(K) These variable rate demand bonds bear interest at a floating rate that resets weekly. The interest rate as of December 31, 2019 was 1.05%. Liquidity support on these bonds is provided under a separate letter of credit facility that expires in August 2021. These bonds contain no financial covenants.

(L) In October 2018, SJG entered into an unsecured, $400.0 million term loan credit agreement (the “Credit Agreement”), which is syndicated among eight banks. Under the Credit Agreement, the Company had the ability to borrow up to an aggregate of $400.0 million from time to time until October 26, 2019. All loans under the Credit Agreement become due and payable on April 26, 2020. As of December 31, 2018, SJG borrowed $310.0 million under this agreement and, during 2019, borrowed the remaining $90.0 million, resulting in total borrowings of $400.0 million as of December 31, 2019, which is recorded in current portion of long-term debt on the consolidated balance sheets.

(M) SJI paid off the following: $60.0 million principal amount outstanding on its 3.30% Senior Notes, Series 2014A-1; $40.0 million principal amount outstanding on its Floating Rate Senior Notes, Series 2014B-1; $30.0 million principal amount outstanding on its 3.30% Senior Notes, Series 2014A-2; $50.0 million principal amount outstanding on its 3.30% Senior Notes, Series 2014A-3; and $60.0 million principal amount outstanding on its Floating Rate Senior Notes, Series 2014B-2.

(N) SJI offered and sold $200.0 million aggregate principal amount of the Company's 5.625% Junior Subordinated Notes due 2079. The total net cash proceeds, inclusive of a debt discount of $5.3 million, were $194.7 million.

(O) At December 31, 2019, the floating rate on this Term Loan was 2.88%.

(P) In April 2018, SJI completed a public offering of Equity Units for gross proceeds of $287.5 million (see Note 6). As of December 31, 2019, these Equity Units were not converted into equity.

(Q) In 2019, SJI repaid $475.0 million aggregate principal amount outstanding on its Floating Rate Senior Notes, Series 2018D.

(R) In December 2018, ETG issued $530.0 million aggregate principal amount of its First Mortgage Bonds, Series 2018A, which were issued in five Tranches as shown in the table above. These bonds were issued under that First Mortgage Indenture dated as of July 2, 2018 between ETG and a Trustee, as supplemented by that First Supplement dated as of December 20, 2018, pursuant to a BPA dated as of December 20, 2018 between ETG and the purchasers named therein. The proceeds from the sale of these bonds were used to repay short-term indebtedness under a previous $530.0 million, 364-day term loan credit agreement dated as of June 26, 2018 among ETG (Borrower), SJI (Guarantor), the lenders party thereto and Bank of America, N.A., as Administrative Agent. Prior to repayment, the term loans bore interest at a variable base rate or a variable LIBOR at the election of the Company.

(S) ETG entered into a Bond Purchase Agreement and issued First Mortgage Bonds, Series 2019A-1 through Series 2019A-4, in the aggregate principal amount of $145.0 million.

(T) Total SJI consolidated Long-Term Debt in the table above does not include unamortized debt issuance costs of $25.5 million and $27.0 million as of December 31, 2019 and 2018, respectively, nor does it include $5.3 million of unamortized debt discounts as of December 31, 2019. Total SJG Long-Term Debt in the table above does not include unamortized debt issuance costs of $6.3 million and $6.8 million as of December 31, 2019 and 2018, respectively.