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BUSINESS SEGMENT AND OTHER OPERATIONS DATA (Tables)
 6 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

Information related to the Company's various business segments and other operations is detailed below:
 
Three Months Ended
Six Months Ended
 
March 31,
March 31,
(Thousands)
2013
2012
2013
2012
Operating revenues
 
 
 
 
Natural Gas Distribution
 
 
 
 
External customers
$
351,750

$
226,023

$
570,599

$
417,397

Clean Energy Ventures
 
 
 
 
External customers
1,440

527

4,619

907

Energy Services
 
 
 
 
External customers
599,362

378,356

1,102,997

820,162

Intercompany
4,444

2,654

4,551

2,848

Segment subtotal
956,996

607,560

1,682,766

1,241,314

Retail and Other
 
 
 
 
External customers
8,334

8,014

18,689

16,866

Intercompany
186

263

449

442

Eliminations
(4,631
)
(2,916
)
(5,000
)
(3,290
)
Total
$
960,885

$
612,921

$
1,696,904

$
1,255,332

Depreciation and amortization
 
 
 
 
Natural Gas Distribution
$
9,399

$
8,749

$
18,676

$
17,381

Clean Energy Ventures
2,104

1,511

3,935

2,321

Energy Services
11

16

22

32

Energy Holdings
1

2

3

3

Segment subtotal
11,515

10,278

22,636

19,737

Retail and Other
199

161

390

302

Eliminations
7

—

(2
)
—

Total
$
11,721

$
10,439

$
23,024

$
20,039

Interest income (1)
 
 
 
 
Natural Gas Distribution
$
146

$
214

$
313

$
460

Energy Services
—

(5
)
—

26

Energy Holdings
263

285

534

533

Segment subtotal
409

494

847

1,019

Retail and Other
1

1

2

1

Eliminations
(218
)
(268
)
(450
)
(503
)
Total
$
192

$
227

$
399

$
517

(1)
Included in other income on the Unaudited Condensed Consolidated Statements of Operations.

 
Three Months Ended
Six Months Ended
 
March 31,
March 31,
(Thousands)
2013
2012
2013
2012
Interest expense, net of capitalized interest
 
 
 
 
Natural Gas Distribution
$
3,549

$
3,713

$
7,133

$
7,450

Clean Energy Ventures
822

198

1,605

340

Energy Services
640

245

1,208

515

Energy Holdings
476

683

1,067

1,397

Segment subtotal
5,487

4,839

11,013

9,702

Retail and Other
259

588

558

730

Total
$
5,746

$
5,427

$
11,571

$
10,432

Income tax provision (benefit)
 
 
 
 
Natural Gas Distribution
$
22,794

$
27,016

$
37,301

$
42,612

Clean Energy Ventures
(6,457
)
(14,826
)
(14,226
)
(26,997
)
Energy Services
(5,203
)
(2,105
)
10,961

9,403

Energy Holdings
1,619

1,393

2,862

2,624

Segment subtotal
12,753

11,478

36,898

27,642

Retail and Other
(906
)
(312
)
(1,029
)
(371
)
Eliminations
218

(72
)
176

(140
)
Total
$
12,065

$
11,094

$
36,045

$
27,131

Equity in earnings of affiliates
 
 
 
 
Energy Holdings
$
4,469

$
3,967

$
7,960

$
7,582

Eliminations
(939
)
(949
)
(1,875
)
(1,910
)
Total
$
3,530

$
3,018

$
6,085

$
5,672

Net financial earnings (loss)
 
 
 
 
Natural Gas Distribution
$
45,917

$
44,936

$
71,409

$
70,910

Clean Energy Ventures
5,154

11,862

10,459

21,959

Energy Services
16,368

15,871

19,382

23,486

Energy Holdings
2,274

2,021

4,059

3,804

Segment subtotal
69,713

74,690

105,309

120,159

Retail and Other
(1,037
)
(543
)
(1,131
)
(689
)
Eliminations
(12
)
(21
)
(21
)
(36
)
Total
$
68,664

$
74,126

$
104,157

$
119,434

Capital expenditures
 
 
 
 
Natural Gas Distribution
$
31,554

$
27,427

$
65,699

$
49,145

Clean Energy Ventures
9,545

14,175

24,865

61,786

Segment subtotal
41,099

41,602

90,564

110,931

Retail and Other
144

370

298

459

Total
$
41,243

$
41,972

$
90,862

$
111,390
Reconciliation of Consolidated Net Financial Earnings to Consolidated Net Income
A reconciliation of consolidated net financial earnings to consolidated net income is as follows:
 
Three Months Ended
Six Months Ended
 
March 31,
March 31,
(Thousands)
2013
2012
2013
2012
Consolidated net financial earnings
$
68,664

$
74,126

$
104,157

$
119,434

Less:
 
 
 
 
Unrealized loss (gain) from derivative instruments and related transactions, net of taxes (1) (2)
24,534

7,664

12,940

(9,708
)
Effects of economic hedging related to natural gas inventory, net of taxes (3)
(1,339
)
11,927

(14,458
)
17,250

Consolidated net income
$
45,469

$
54,535

$
105,675

$
111,892


(1)
Excludes unrealized (gains) losses related to an intercompany transaction between NJNG and NJRES that have been eliminated in consolidation of approximately $(377,000) and $79,000 for the three months ended and $(310,000) and $197,000 for the six months ended March 31, 2013 and 2012, respectively.
(2)
Includes taxes of approximately $14.7 million and $4.4 million, for the three months ended and $7.9 million and $(5.9) million for the six months ended March 31, 2013 and 2012, respectively.
(3)
Includes taxes of approximately $(778,000) and $6.9 million for the three months ended and $(8.4) million and $10 million for the six months ended March 31, 2013 and 2012, respectively.
Reconciliation of Assets from Segment to Consolidated
The Company's assets for the various business segments and business operations are detailed below:
(Thousands)
March 31,
2013
September 30,
2012
Assets at end of period:
 
 
Natural Gas Distribution
$
2,048,349

$
2,005,520

Clean Energy Ventures
243,616

223,247

Energy Services
466,565

347,406

Energy Holdings
155,908

157,779

Segment subtotal
2,914,438

2,733,952

Retail and Other
71,293

73,298

Eliminations (1)
(44,073
)
(37,245
)
Total
$
2,941,658

$
2,770,005

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