SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2015

The following table summarizes gas in storage, at average cost by company, as of September 30:



	2015				2014
($ in thousands)	Gas in Storage			Bcf	Gas in Storage			Bcf
NJRES		$	93,696	44.6		$	191,250	56.5
NJNG		70,209		21.4		86,266		21.3
Total		$	163,905	66.0		$	277,516	77.8

Schedule of Demand Charges

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)	2015		2014		2013
NJRES	$	130.6	$	122.0	$	123.0
NJNG	80.5		92.0		92.1
Total	$	211.1	$	214.0	$	215.1

Schedule of Capitalized Amounts Associated with Debt and Equity Component of AFUDC

Corresponding amounts for the debt component is recognized in interest expense and in other income for the equity component on the Consolidated Statements of Operations and include the following for the fiscal years ended September 30:



($ in thousands)	2015			2014			2013
AFUDC:
Debt	$	2,472		$	1,057		$	921
Equity	3,825			1,562			2,037
Total	$	6,297		$	2,619		$	2,958
Weighted average interest rate	4.63		%	3.30		%	1.05		%

Schedule of Sales Tax and TEFA

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)	2015		2014		2013
Sales tax	$	44.1	$	47.4	$	44.4
TEFA ⁽¹⁾	—		1.4		5.0
Total	$	44.1	$	48.8	$	49.4


(1)	TEFA was phased out in January 2014.

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	2015			2014
Distribution facilities	38 to 74 years	$	1,695,898		$	1,567,648
Transmission facilities	35 to 56 years	289,599			281,488
Storage facilities	34 to 47 years	41,669			41,669
Solar property	20 to 25 years	395,704			333,506
Wind property	25 years	137,292			42,559
All other property	5 to 35 years	62,123			66,673
Total property, plant and equipment		2,622,285			2,333,543
Accumulated depreciation and amortization		(494,024		)	(449,433		)
Property, plant and equipment, net		$	2,128,261		$	1,884,110

Summary of Customer Accounts Receivable by Company

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



(Thousands)	2015				2014
NJRES	$	107,461	69	%	$	142,566	75	%
NJNG ⁽¹⁾	41,130		26		41,281		22
NJRCEV	1,084		1		594		—
NJRHS and other	5,598		4		5,529		3
Total	$	155,273	100	%	$	189,970	100	%


(1)	Does not include unbilled revenues of $6.4 million and $7.2 million as of September 30, 2015 and 2014, respectively.

Changes in Components of Accumulated Other Comprehensive Income, Net

Accumulated Other Comprehensive Income

The following table presents the changes in the components of accumulated other comprehensive income, net of related tax effects as of September 30:



(Thousands)	Unrealized gain on available for sale securities			Net unrealized gain on derivatives				Adjustment to postemployment benefit obligation				Total
Balance at September 30, 2013	$	5,400		$	12			$	(7,033	)		$	(1,621	)
Other comprehensive income, net of tax
Other comprehensive (loss), before reclassifications, net of tax of $426, $159, $3,334, $3,919	(618		)	(273		)		(5,006		)		(5,897		)
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $(98), $(1,172), $(1,270)	—			168			⁽¹⁾	1,756			⁽²⁾	1,924
Net current-period other comprehensive (loss), net of tax of $426, $61, $2,162, $2,649	(618		)	(105		)		(3,250		)		(3,973		)
Balance at September 30, 2014	$	4,782		$	(93	)		$	(10,283	)		$	(5,594	)
Other comprehensive income, net of tax
Other comprehensive income (loss), before reclassifications, net of tax of ($1,135), $146, $4,362, $3,373	1,603			(256		)		(6,483		)		(5,136		)
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, ($202), ($674), ($876)	—			349			⁽¹⁾	987			⁽²⁾	1,336
Net current-period other comprehensive income, net of tax of ($1,135), ($56), $3,688, $2,497	1,603			93				(5,496		)		(3,800		)
Balance at September 30, 2015	$	6,385		$	—			$	(15,779	)		$	(9,394	)


(1)	Consists of realized losses related to foreign currency derivatives, which are reclassified to gas purchases on the Consolidated Statements of Operations.


(2)	Included in the computation of net periodic pension cost, a component of O&M expense on the Consolidated Statements of Operations. For more details, see Note 10. Employee Benefit Plans.