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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table reflects the fair value of NJR's derivative assets and liabilities recognized on the Consolidated Balance Sheets as of September 30:
 
 
 
Fair Value
 
 
 
2013
 
2012
(Thousands)
Balance Sheet Location
Asset
Derivatives
Liability
Derivatives
Asset
Derivatives
Liability
Derivatives
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
NJRES:
 
 
 
 
 
 
 
 
 
Foreign currency contracts
Derivatives - current
 
$
16

 
$
3

 
$
116

 
$
97

 
Derivatives - noncurrent
 
—

 
2

 
70

 
15

Fair value of derivatives designated as hedging instruments
 
$
16

 
$
5

 
$
186

 
$
112

 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
NJNG:
 
 
 
 
 
 
 
 
 
Financial commodity contracts
Derivatives - current
 
$
3,502

 
$
2,045

 
$
6,203

 
$
5,034

 
Derivatives - noncurrent
 
121

 
140

 
1,000

 
—

NJRES:
 
 
 
 
 
 
 
 
 
Physical forward commodity contracts
Derivatives - current
 
11,282

 
14,573

 
19,590

 
9,530

 
Derivatives - noncurrent
 
541

 
22

 
658

 
216

Financial commodity contracts
Derivatives - current
 
38,527

 
23,769

 
22,112

 
27,779

 
Derivatives - noncurrent
 
2,099

 
2,294

 
600

 
2,902

Fair value of derivatives not designated as hedging instruments
 
$
56,072

 
$
42,843

 
$
50,163

 
$
45,461

Total fair value of derivatives
 
 
$
56,088

 
$
42,848

 
$
50,349

 
$
45,573
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table reflects the effect of derivative instruments on the Consolidated Statements of Operations as of September 30:
(Thousands)
Location of gain (loss) recognized in income on derivatives
Amount of gain (loss) recognized
in income on derivatives
Derivatives not designated as hedging instruments:
2013
 
2012
 
2011
NJRES:
 
 
 
 
 
 
Physical commodity contracts
Operating revenues
$
1,117

 
$
(7,187
)
 
$
41,538

Physical commodity contracts
Gas purchases
(17,194
)
 
12,967

 
6,474

Financial commodity contracts
Gas purchases
41,183

 
81,872

 
(7,008
)
Total unrealized and realized gains (losses)
$
25,106

 
$
87,652

 
$
41,004
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table reflects the effect of derivative instruments designated as cash flow hedges on OCI as of September 30:
(Thousands)
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) (1)
Amount of Gain or (Loss) Reclassified from OCI into Income (Effective Portion)
Amount of Gain or (Loss) Recognized on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Derivatives in cash flow hedging relationships:
2013
2012
2013
2012
2013
2012
Foreign currency contracts
$
(44
)
$
(90
)
$
(18
)
$
(102
)
$
—

$
—

(1)
The settlement of foreign currency transactions over the next 12 months is expected to result in the reclassification of $13,097 from OCI into earnings. The maximum tenor is April 2015.
Schedule of Derivative Instruments
NJNG and NJRES had the following outstanding long (short) derivatives as of September 30:
 
 
 
Volume (Bcf)
 
 
 
2013
2012
NJNG
Futures
 
22.6

16.1

 
Swaps
(1) 
—

3.4

NJRES
Futures
 
(64.2
)
(28.6
)
 
Swaps
(1) 
—

13.2

 
Options
 
1.5

4.4

 
Physical
 
7.3

(3.5
)

(1)
In October 2012, following the implementation of the Dodd-Frank Act, the ICE converted its cleared energy “swap” contracts to “futures” contracts and the NYMEX amended their product titles to remove the word “swap” from the titles of their “futures” and “option” contracts.
Schedule of Due to (from) Broker-Dealers and Clearing Organizations
The Company maintains separate broker margin accounts for NJNG and NJRES. The balances as of September 30, by company, are as follows:
(Thousands)
Balance Sheet Location
2013
2012
NJNG
Broker margin - Current assets
$
213

$
1,713

NJRES
Broker margin - Current assets
$
6,368

$
20,216
Schedules of Concentration of Risk, by Risk Factor
The amounts presented below have not been reduced by any collateral received or netting and exclude accounts receivable for NJNG retail natural gas sales and services.
(Thousands)
Gross Credit
Exposure
Investment grade
 
$
189,852

 
Noninvestment grade
 
2,947

 
Internally-rated investment grade
 
25,530

 
Internally-rated noninvestment grade
 
9,834

 
Total
 
$
228,163