SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2013

The following table summarizes gas in storage by company as of September 30:



	2013				2012
($ in thousands)	Gas in Storage			Bcf	Gas in Storage			Bcf
NJNG		$	104,979	20.4		$	145,379	22.2
NJRES		209,498		62.3		119,814		45.5
Total		$	314,477	82.7		$	265,193	67.7

Schedule of Demand Fees

The following table summarizes the demand charges, which are net of capacity releases, and are included as a component of gas purchases on the Consolidated Statements of Operations for the fiscal years ended September 30:



(Millions)	2013		2012		2011
NJRES	$	123.0	$	129.8	$	112.3
NJNG	92.1		86.7		98.9
Total	$	215.1	$	216.5	$	211.2

Schedule of Public Utilities Allowance for Funds Used During Construction Rate

Corresponding amounts are recognized in interest expense and other income, as appropriate, on the Consolidated Statements of Operations and include the following for the fiscal years ended September 30:



($ in thousands)	2013			2012			2011
AFUDC:
Debt	$	921		$	300		$	1,020
Equity	2,037			638			2,100
Total	$	2,958		$	938		$	3,120
Weighted average interest rate	1.05		%	1.47		%	5.21		%

Schedule of Sales Tax And Assessment

Sales tax and TEFA are collected from customers and presented in both operating revenues and operating expenses on the Consolidated Statements of Operations for the fiscal years ended September 30, as follows:



(Millions)	2013		2012		2011
Sales tax	$	44.4	$	32.3	$	50.7
TEFA ⁽¹⁾	5.0		6.0		9.0
Total	$	49.4	$	38.3	$	59.7


(1)	TEFA will be phased out over a three-year period commencing January 1, 2012.

Schedule of Property, Plant and Equipment

Property, plant and equipment was comprised of the following as of September 30:



(Thousands)
Property Classifications	Estimated Useful Lives	2013			2012
Distribution facilities	38 to 74 years	$	1,421,885		$	1,352,101
Transmission facilities	35 to 56 years	273,853			248,774
Storage facilities	34 to 47 years	41,687			41,663
Solar property	20 to 25 years	232,409			181,123
All other property	5 to 35 years	85,321			82,875
Total property, plant and equipment		2,055,155			1,906,536
Accumulated depreciation and amortization		(412,039		)	(421,659		)
Property, plant and equipment, net		$	1,643,116		$	1,484,877

Summary of Accounts Receivable by Subsidiary

The following table summarizes customer accounts receivable by company as of September 30:



(Thousands)	2013				2012
NJRES	$	194,263	81	%	$	135,891	80	%
NJNG ⁽¹⁾	43,045		18		33,093		19
NJRCEV	293		—		154		—
NJRHS and other	2,680		1		1,405		1
Total	$	240,281	100	%	$	170,543	100	%


(1)	Does not include unbilled revenues of $7.4 million and $7 million as of September 30, 2013 and 2012, respectively.

Schedule of Accumulated Other Comprehensive Income (Loss)

applied the provisions of the new guidance and the information for the fiscal year ended September 30, 2013, is as follows:



(Thousands)	Unrealized gain on available for sale securities				Net unrealized gain on derivatives				Adjustment to postemployment benefit obligation				Total
Balance at September 30, 2012	$	4,921			$	51			$	(15,743	)		$	(10,771	)
Other comprehensive income, net of tax
Other comprehensive income, excluding reclassifications, net of tax of $(485), $16, $(5,124), $(5,593)	703				(28		)		7,526				8,201
Amounts reclassified from accumulated other comprehensive income, net of tax of $155, $7, $(810), $(648)	(224		)	⁽¹⁾	(11		)	⁽²⁾	1,184			⁽³⁾	949
Net current-period other comprehensive income, net of tax of $(331), $23, $(5,934), $(6,242)	479				(39		)		8,710				9,150
Balance at September 30, 2013	$	5,400			$	12			$	(7,033	)		$	(1,621	)


(1)	Reclassified to other income in the Consolidated Statements of Operations.


(2)	Reclassified to gas purchases in the Consolidated Statements of Operations.


(3)	Included in the computation of net periodic pension cost, a component of O&M expense in the Consolidated Statements of Operations.