PENSION AND OTHER POSTRETIREMENT BENEFITS (Tables)

6 Months Ended

Jun. 30, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of defined benefit plan disclosures

For the three and six months ended June 30, 2021 and 2020, net periodic benefit cost related to the SJI employee and officer pension and other postretirement benefit plans consisted of the following components (in thousands):

	Pension Benefits
	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Service Cost	$	1,591	$	1,688	$	3,182	$	3,375
Interest Cost	3,236		3,763		6,472		7,526
Expected Return on Plan Assets	(5,834)		(5,452)		(11,668)		(10,904)
Amortizations:
Prior Service Cost	25		26		50		53
Actuarial Loss	3,194		2,715		6,388		5,430
Net Periodic Benefit Cost	2,212		2,740		4,424		5,480
Capitalized Benefit Cost	(566)		(517)		(1,132)		(1,061)
Deferred Benefit Cost	(316)		(408)		(632)		(816)
Total Net Periodic Benefit Expense	$	1,330	$	1,815	$	2,660	$	3,603

	Other Postretirement Benefits
	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Service Cost	$	212	$	165	$	424	$	329
Interest Cost	475		608		950		1,216
Expected Return on Plan Assets	(1,436)		(1,346)		(2,872)		(2,691)
Amortizations:
Prior Service Cost	(156)		(144)		(312)		(288)
Actuarial Loss	273		193		546		385
Net Periodic Benefit Cost	(632)		(524)		(1,264)		(1,049)
Capitalized Benefit Cost	(106)		(106)		(212)		(214)
Deferred Benefit Cost	336		396		673		792
Total Net Periodic Benefit Expense	$	(402)	$	(234)	$	(803)	$	(471)