XML 62 R71.htm IDEA: XBRL DOCUMENT v2.4.0.8
STOCK-BASED COMPENSATION (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation $ 2,130 $ 2,638 $ 2,847
Income tax benefit (870) (1,078) (1,163)
Total, net of tax 1,260 1,560 1,684
Deferred compensation related to unvested restricted and performance shares 2,000    
Deferred compensation related to unvested performance shares, period 2 years    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]      
Beginning, Shares 81,625 109,763 263,128
Granted, Shares 0 0 0
Exercised, Shares (15,000) (28,138) (152,448)
Forfeited, Shares 0 0 (917)
Ending, Shares 66,625 81,625 109,763
Beginning, Weighted Average Exercise Price (in usd per share) $ 28.71 $ 27.84 $ 27.24
Granted, Weighted Average Exercise Price (in usd per share) $ 0.00 $ 0.00 $ 0.00
Exercised, Weighted Average Exercise Price (in usd per share) $ 25.08 $ 25.30 $ 26.86
Forfeited, Weighted Average Exercise Price (in usd per share) $ 0.00 $ 0.00 $ 18.11
Ending, Weighted Average Exercise Price (in usd per share) $ 29.53 $ 28.71 $ 27.84
Options, Oustanding and Exercisable 66,625 81,625 109,763
Options, Outstanding and Exercisable, Weighted Average Remaining Contractual Term (in years) 1 year 5 months 25 days    
Options, Outstanding and Exercisable, Weighted Average Exercise Price (in usd per share) $ 29.53 $ 28.71 $ 27.84
Options, Outstanding and Exercisable, Aggregate Intrinsic Value 1,968    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Beginning, Weighted Average Grant Date Fair Value (in usd per share) $ 33.26 $ 28.04 $ 31.07
Granted, Weighted Average Grant Date Fair Value (in usd per share) $ 30.74 $ 47.17 $ 26.24
Vested, Weighted Average Grant Date Fair Value (in usd per share) $ 0.00 $ 30.08 $ 0.00
Cancelled/forfeited, Weighted Average Grant Date Fair Value (in usd per share) $ 26.24 $ 0.00 $ 29.74
Ending, Weighted Average Grant Date Fair Value (in usd per share) $ 36.70 $ 33.26 $ 28.04
Operation and Maintenance [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 2,100 2,600 2,800
Performance Shares [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 1,049 1,276 915
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Beginning, Shares 84,743 [1] 106,027 [1] 50,475 [1]
Vested, Shares 0 [1] (49,702) [1] 0 [1],[2]
Cancelled/forfeited, shares (56,325) [1] 0 [1] (773) [1]
Ending, Shares 78,322 [1] 84,743 [1] 106,027 [1]
Percent of awards to common stock, target 100.00%    
Performance Shares, Market Condition Award [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares   28,418 [1] 56,325 [1]
Percent of awards to common stock 70.00%    
Number of common shared issued 19,095    
Performance Shares, Subject to Performance Conditions [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Deferred compensation related to unvested restricted and performance shares 1,500    
Deferred compensation related to unvested performance shares, period 2 years    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares 49,904 [1]    
Percent of awards to common stock 68.80%    
Number of common shared issued 15,427    
Restricted Stock [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation 1,081 1,362 1,932
Deferred compensation related to unvested restricted and performance shares 452    
Deferred compensation related to unvested performance shares, period 2 years    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Beginning, Shares 59,346 77,097 56,365
Granted, Shares 69,434 51,100 62,149
Vested, Shares (86,975) [3] (68,851) [3] (41,201)
Cancelled/forfeited, shares (2,550) 0 (216)
Ending, Shares 39,255 59,346 77,097
Beginning, Weighted Average Grant Date Fair Value (in usd per share) $ 40.40 $ 39.90 $ 33.40
Granted, Weighted Average Grant Date Fair Value (in usd per share) $ 40.62 $ 47.17 $ 40.74
Vested, Weighted Average Grant Date Fair Value (in usd per share) $ 40.28 $ 44.86 $ 32.29
Cancelled/forfeited, Weighted Average Grant Date Fair Value (in usd per share) $ 40.74 $ 0.00 $ 36.42
Ending, Weighted Average Grant Date Fair Value (in usd per share) $ 41.05 $ 40.40 $ 39.90
Vested, Total Fair Value of Vested Shares (dollars) 3,622 3,198 1,723
Shares forfeited in period, previously granted and vested 4,673 4,673  
Restricted Stock [Member] | Scheduled to Vest Immediately [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares 67,295 49,171  
Restricted Stock [Member] | Vesting October 2015 [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares 2,139    
Restricted Stock [Member] | Vesting October 2014 [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares   1,929  
Restricted Stock [Member] | Vesting in Three Equal Annual Installments, The First Occuring on October 15, 2011 [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares     36,614
Restricted Stock [Member] | All Scheduled to Vest on November 17, 2013 [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Granted, Shares     25,535
Minimum [Member] | Performance Shares [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Percent of awards to common stock 0.00%    
Maximum [Member] | Performance Shares [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Percent of awards to common stock 150.00%    
Range 1 [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]      
Options, Oustanding and Exercisable 17,250    
Options, Outstanding and Exercisable, Weighted Average Remaining Contractual Term (in years) 1 year 2 months 27 days    
Options, Outstanding and Exercisable, Weighted Average Exercise Price (in usd per share) $ 27.75    
Options, Outstanding and Exercisable, Aggregate Intrinsic Value 479    
Options, Outstanding and Exercisable, Lower Exercie Price Range (in usd per share) $ 25.12    
Options, Outstanding and Exercisable, Upper Exercie Price Range (in usd per share) $ 28.65    
Range 2 [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]      
Options, Oustanding and Exercisable 49,375    
Options, Outstanding and Exercisable, Weighted Average Remaining Contractual Term (in years) 1 year 6 months 26 days    
Options, Outstanding and Exercisable, Weighted Average Exercise Price (in usd per share) $ 30.15    
Options, Outstanding and Exercisable, Aggregate Intrinsic Value $ 1,489    
Options, Outstanding and Exercisable, Lower Exercie Price Range (in usd per share) $ 28.66    
Options, Outstanding and Exercisable, Upper Exercie Price Range (in usd per share) $ 30.37    
Employee [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares available for future issuance 1,669,541    
Director [Member]
     
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares available for future issuance 44,976    
[1] The number of common shares issued related to performance shares may range from zero to 150 percent of the number of shares shown in the table above based on the Company's achievement of performance goals associated with NJR total shareowner return relative to a selected peer group of companies.
[2] As certified by the Company's Leadership and Compensation Committee on November 13, 2012, the number of common shares related to performance shares and market condition shares earned was 68.8 percent , or 15,427 shares and 70 percent, or 19,095 shares, respectively. The number represented on this line is the target number of 100 percent. See footnote (1) above.
[3] A total of 4,673 previously granted and vested deferred restricted shares were forfeited prior to distribution due to non compliance with the terms of the agreement.