LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of long-term debt

A schedule of our long-term debt as of December 31, including current maturities, is as follows (in thousands):

			2016			2015
Long-Term Debt (A):
First Mortgage Bonds: (B)
5.437	%	Series due 2016 (C)	—			10,000
4.60	%	Series due 2016 (C)	—			17,000
4.657	%	Series due 2017	15,000			15,000
7.97	%	Series due 2018	10,000			10,000
7.125	%	Series due 2018	20,000			20,000
5.587	%	Series due 2019	10,000			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)	8,182			9,091
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	45,000			45,000
4.01	%	Series due 2030 (I)	50,000			50,000
4.23	%	Series due 2030	30,000			30,000
3.74	%	Series due 2032	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
Series A 2006 Tax-Exempt First Mortgage Bonds
Variable Rate, due 2036 (J)			24,900			24,900
Variable Rate Bank Term Facility, due 2017 (K)			200,000			139,000
Total Long-Term Debt Outstanding (L)			645,082			611,991
Less Current Maturities			(215,909		)	(27,909		)
Long-Term Debt (L)			$	429,173		$	584,082

(A) Long-term debt maturities for the succeeding five years are as follows (in thousands): 2017, $215,909; 2018, $38,909; 2019, $18,909; 2020, $17,909; 2021, $27,909.

(B) Our First Mortgage dated October 1, 1947, as supplemented, securing the First Mortgage Bonds constitutes a direct first mortgage lien on substantially all utility plant. In January 2017, the First Mortgage was amended and restated in its entirety (see Note 17).

(C) In July 2016, SJG retired $17.0 million aggregate principal amount of 4.6% Medium Term Notes (MTN's) at maturity. In August 2016, SJG retired $10.0 million aggregate principal amount of 5.437% MTN's at maturity.

(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 toward the principal amount of 3.63% MTN's annually, 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 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.

(I) SJG has $50.0 million of 4.01% MTN's with several due dates, as follows: $8.0 million each due November 2018 and 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) These variable rate demand bonds bear interest at a floating rate that resets weekly. The interest rate as of December 31, 2016 was 0.74%. Liquidity support on these bonds is provided under a separate letter of credit facility that expires in August 2018. These bonds contain no financial covenants.

(K) SJG had a $200.0 million multiple-draw term facility offered by a syndicate of banks which was set to expire in June 2017. This facility bore interest at a floating rate based on LIBOR plus a spread determined by SJG's credit ratings. As of December 31, 2015, SJG had borrowed an aggregate $139.0 million under this facility at an average interest rate of 1.17% and the proceeds were used to pay down short-term debt. In January 2016, SJG issued an additional $61.0 million of long-term debt at an average interest rate of 1.41% under this facility. As such, the total outstanding amount under this facility as of December 31, 2016 is $200.0 million, which is classified in current portion of long-term debt on the balance sheets as it is due within one year. In January 2017, this term facility was paid in full (see Note 17).        

(L) Total Long-Term Debt in the table above does not include unamortized debt issuance costs of $6.0 million and $6.6 million for the years ended December 31, 2016 and 2015, respectively, which were reclassified to Long-Term Debt on the balance sheets to conform to ASU 2015-03 (see Note 1).