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FAIR VALUE (Tables)
 12 Months Ended
Sep. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value, by Balance Sheet Grouping
he estimated fair value of long-term debt at NJNG and NJR, including current maturities and excluding capital leases, as applicable, is as follows:
(Thousands)
2013
2012
NJNG
 
 
Carrying value
$
379,845

$
329,845

Fair market value
$
397,175

$
364,394

NJR
 
 
Carrying value
$
150,000

$
150,000

Fair market value
$
159,343

$
165,662
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are summarized as follows:
 
Quoted Prices in Active Markets for Identical Assets
Significant Other Observable Inputs
Significant
Unobservable
Inputs
 
(Thousands)
(Level 1)
(Level 2)
(Level 3)
Total
As of September 30, 2013:
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
Physical forward commodity contracts
 
$
—

 
 
$
11,823

 
 
$
—

 
$
11,823

Financial derivative contracts - natural gas
 
44,249

 
 
—

 
 
—

 
44,249

Financial commodity contracts - foreign exchange
 
—

 
 
16

 
 
—

 
16

Available for sale equity securities - energy industry (1)
 
11,716

 
 
—

 
 
—

 
11,716

Other (2)
 
1,129

 
 
—

 
 
—

 
1,129

Total assets at fair value
 
$
57,094

 
 
$
11,839

 
 
$
—

 
$
68,933

Liabilities
 
 
 
 
 
 
 
 
 
 
Physical forward commodity contracts
 
$
—

 
 
$
14,595

 
 
$
—

 
$
14,595

Financial commodity contracts - natural gas
 
28,248

 
 
—

 
 
—

 
28,248

Financial commodity contracts - foreign exchange
 
—

 
 
5

 
 
—

 
5

Other
 
—

 
 
—

 
 
—

 
—

Total liabilities at fair value
 
$
28,248

 
 
$
14,600

 
 
$
—

 
$
42,848

 
 
 
 
 
 
 
 
 
 
 
As of September 30, 2012:
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
Physical forward commodity contracts
 
$
—

 
 
$
20,248

 
 
$
—

 
$
20,248

Financial derivative contracts - natural gas
 
14,270

 
 
15,645

 
 
—

 
29,915

Financial commodity contracts - foreign exchange
 
—

 
 
186

 
 
—

 
186

Available for sale equity securities - energy industry (1)
 
11,009

 
 
—

 
 
—

 
11,009

Other (2)
 
30

 
 
—

 
 
—

 
30

Total assets at fair value
 
$
25,309

 
 
$
36,079

 
 
$
—

 
$
61,388

Liabilities
 
 
 
 
 
 
 
 
 
 
Physical forward commodity contracts
 
$
—

 
 
$
9,746

 
 
$
—

 
$
9,746

Financial derivative contracts - natural gas
 
16,922

 
 
18,793

 
 
—

 
35,715

Financial commodity contracts - foreign exchange
 
—

 
 
112

 
 
—

 
112

Other
 
—

 
 
—

 
 
—

 
—

Total liabilities at fair value
 
$
16,922

 
 
$
28,651

 
 
$
—

 
$
45,573

(1)
Included in other noncurrent assets on the Consolidated Balance Sheets.
(2)
Includes various money market funds in Level 1.