XML 50 R33.htm IDEA: XBRL DOCUMENT  v2.3.0.11
BUSINESS SEGMENT AND OTHER OPERATIONS DATA (Tables)
 9 Months Ended
Jun. 30, 2011
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Information related to the Company's various business segments and other operations is detailed below:
 
Three Months Ended
Nine Months Ended
 
June 30,
June 30,
(Thousands)
2011
2010
2011
2010
Operating revenues
 
 
 
 
Natural Gas Distribution
 
 
 
 
External customers
$
138,149


$
105,130


$
862,073


$
794,311


Intercompany
—


—


—


8,047


Energy Services








External customers
498,834


364,776


1,449,252


1,193,912


Intercompany
1,579


24


55,010


13,254


Clean Energy Ventures
328


—


328


—


Segment subtotal
638,890


469,930


2,366,663


2,009,524


Retail and Other
10,951


10,058


26,903


19,803


Eliminations
(1,672
)
(94
)
(55,258
)
(21,541
)
Total
$
648,169


$
479,894


$
2,338,308


$
2,007,786


Depreciation and amortization








Natural Gas Distribution
$
8,192


$
7,939


$
24,650


$
23,321


Energy Services
15


37


46


136


Midstream Assets
1


1


4


4


Clean Energy Ventures
115


—


143


—


Segment subtotal
8,323


7,977


24,843


23,461


Retail and Other
191


159


602


475


Total
$
8,514


$
8,136


$
25,445


$
23,936


Interest income (1)








Natural Gas Distribution
$
304


$
608


$
844


$
1,508


Energy Services
1


7


9


11


Midstream Assets
225


227


677


658


Segment subtotal
530


842


1,530


2,177


Retail and Other
1


(4
)
2


3


Eliminations
(220
)
(216
)
(658
)
(642
)
Total
$
311


$
622


$
874


$
1,538


(1)
Included in other income in the Unaudited Condensed Consolidated Statement of Operations.
 
Three Months Ended
Nine Months Ended
 
June 30,
June 30,
(Thousands)
2011
2010
2011
2010
Interest expense, net of capitalized interest
 
 
 
 
Natural Gas Distribution
$
3,630


$
4,139


$
11,454


$
12,545


Energy Services
193


425


792


917


Midstream Assets
803


380


2,428


2,037


Clean Energy Ventures
14


—


21


—


Segment subtotal
4,640


4,944


14,695


15,499


Retail and Other
104


294


390


447


Total
$
4,744


$
5,238


$
15,085


$
15,946


Income tax provision (benefit)








Natural Gas Distribution
$
3,283


$
2,081


$
44,162


$
41,326


Energy Services
1,949


(13,316
)
8,632


25,506


Midstream Assets
1,281


1,173


3,951


3,073


Clean Energy Ventures
(898
)
—


(7,608
)
—


Segment subtotal
5,615


(10,062
)
49,137


69,905


Retail and Other
605


269


(439
)
(1,751
)
Eliminations
(23
)
(762
)
(36
)
(88
)
Total
$
6,197


$
(10,555
)
$
48,662


$
68,066


Equity in earnings of affiliates








Midstream Assets
$
3,891


$
2,538


$
11,871


$
10,261


Segment subtotal
3,891


2,538


11,871


10,261


Eliminations
(934
)
(557
)
(2,387
)
(2,376
)
Total
$
2,957


$
1,981


$
9,484


$
7,885


Net financial earnings (loss)








Natural Gas Distribution
$
5,979


$
6,109


$
74,375


$
70,087


Energy Services
213


3,336


19,381


29,347


Midstream Assets
1,847


1,828


5,705


5,218


Clean Energy Ventures
259


—


5,484


—


Segment subtotal
8,298


11,273


104,945


104,652


Retail and Other
1,401


314


913


(1,641
)
Total
$
9,699


$
11,587


$
105,858


$
103,011


Capital expenditures








Natural Gas Distribution
$
30,783


$
23,778


$
77,969


$
55,948


Clean Energy Ventures
7,040


—


16,977


—


Segment subtotal
37,823


23,778


94,946


55,948


Retail and Other
1,012


367


2,975


460


Total
$
38,835


$
24,145


$
97,921


$
56,408


Investments in equity method investees








Midstream Assets
$
—


$
—


$
—


$
4,300


Total
$
—


$
—


$
—


$
4,300
Reconciliation of Consolidated Net Financial Earnings to Consolidated Net Income [Text Block]
A reconciliation of consolidated net financial earnings to consolidated net income is as follows:
 
Three Months Ended
Nine Months Ended
 
June 30,
June 30,
(Thousands)
2011
2010
2011
2010
Consolidated net financial earnings
$
9,699


$
11,587


$
105,858


$
103,011


Less:








Unrealized (gain) loss from derivative instruments and related transactions, net of taxes (1)
(2,875
)
15,886


33,835


3,936


Effects of economic hedging related to natural gas inventory, net of taxes
(7,800
)
5,878


(36,787
)
(16,867
)
Consolidated net income (loss)
$
20,374


$
(10,177
)
$
108,810


$
115,942


(1)
Excludes unrealized losses (gains) related to an intercompany transaction between NJNG and NJRES that have been eliminated in consolidation of $42,000 and $16,000 for the three months ended and $74,000 and $144,000 for the nine months ended June 30, 2011 and 2010, respectively.
Reconciliation of Assets from Segment to Consolidated [Text Block]
The Company's assets for the various business segments and business operations are detailed below:
(Thousands)
June 30, 2011
September 30, 2010
Assets at end of period:




Natural Gas Distribution
$
1,906,403


$
1,904,545


Energy Services
442,980


432,380


Midstream Assets
162,516


159,882


Clean Energy Ventures
17,728


—


Segment subtotal
2,529,627


2,496,807


Retail and Other
72,598


85,864


Intercompany assets (1)
(28,269
)
(19,538
)
Total
$
2,573,956


$
2,563,133


(1)
Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.