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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock-based Compensation Expense Recognized
The following table summarizes all stock-based compensation expense recognized during the following fiscal years:
(Thousands)
2015
2014
2013
Stock-based compensation expense:
 
 
 
Performance share awards
$
2,473

$
2,509

$
1,049

Restricted and non-restricted stock
1,899

1,664

1,081

Deferred retention stock
5,273

13,643

1,326

Compensation expense included in operation and maintenance expense
9,645

17,816

3,456

Income tax benefit
(3,940
)
(7,278
)
(1,412
)
Total, net of tax
$
5,705

$
10,538

$
2,044
Summary of Stock Option Activity
The following table summarizes the stock option activity for the past three fiscal years:
 
Shares
Weighted Average
Exercise Price
Outstanding at September 30, 2012
163,250

 
$14.36
 
Granted
—

 
—

 
Exercised
(30,000
)
 
$12.54
 
Forfeited
—

 
—

 
Outstanding at September 30, 2013
133,250

 
$14.77
 
Granted
—

 
—

 
Exercised
(85,000
)
 
$13.13
 
Forfeited
—

 
—

 
Outstanding at September 30, 2014
48,250

 
$15.00
 
Granted
—

 
—

 
Exercised
(48,250
)
 
$15.00
 
Forfeited
—

 
—

 
Outstanding at September 30, 2015
—

 
—

 
Exercisable at September 30, 2015
—

 
—

 
Exercisable at September 30, 2014
48,250

 
$15.00
 
Exercisable at September 30, 2013
133,250

 
$14.77
 
Summary of Performance Share Activity
The following table summarizes the performance share activity under the NJR 2007 Stock Award and Incentive Plan for the past three fiscal years:
 
Shares (1)
Weighted Average
Grant Date
Fair Value
Non-vested and outstanding at September 30, 2012
169,486

 
$16.63
 
Granted
99,808

 
$15.37
 
Vested
—

 
—

 
Cancelled/forfeited (2)
(112,650
)
 
$13.12
 
Non-vested and outstanding at September 30, 2013
156,644

 
$18.35
 
Granted
147,728

 
$20.28
 
Vested (3)
(56,836
)
 
$23.59
 
Cancelled/forfeited
—

 
—

 
Non-vested and outstanding at September 30, 2014
247,536

 
$18.30
 
Granted
102,790

 
$28.25
 
Vested (4)
(112,446
)
 
$17.10
 
Cancelled/forfeited(5)
(23,416
)
 
$17.98
 
Non-vested and outstanding at September 30, 2015
214,464

 
$23.40
 
(1)
The number of common shares issued related to certain 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.
(2)
As certified by the Company's Leadership and Compensation Committee on November 12, 2013, the number of common shares granted in fiscal 2011 related to performance shares and market condition shares earned was zero. The number represented on this line is the target number of 100 percent. See footnote (1) above.
(3)
As certified by the Company's Leadership and Compensation Committee on November 11, 2014, the number of common shares related to performance shares earned was 150 percent, or 85,254 shares, excluding accumulated dividends. The number represented on this line is the target number of 100 percent. See footnote (1) above.
(4)
As certified by the Company's Leadership and Compensation Committee on November 10, 2015, the number of common shares related to performance shares earned was 120 percent, or 112,918 shares, excluding accumulated dividends. The number represented on this line is the target number of 100 percent. See footnote (1) above. Also included in the vested number are 9,364 shares certified by the Leadership and Compensation Committee on November 11, 2014 and 8,984 shares certified by the Leadership and Compensation Committee on November 10, 2015.
(5)
As certified by the Company's Leadership and Compensation Committee on November 10, 2015, 9,364 shares were canceled due to not achieving a certain performance target. The remainder were forfeitures due to individuals departing the company.

Summary of Restricted Stock Activity
The following table summarizes the restricted stock activity under the NJR 2007 Stock Award and Incentive Plan for the past three fiscal years:
 
Shares

Weighted Average
Grant Date
Fair Value
Total Fair Value of Vested Shares (in Thousands)
Non-vested and outstanding at September 30, 2012
118,692

 
$20.20
 
 
—

 
Granted
4,278

 
$20.31
 
 
—

 
Vested
(39,359
)
 
$19.55
 
 
$
888

 
Cancelled/forfeited
(5,100
)
 
$20.37
 
 
—

 
Non-vested and outstanding at September 30, 2013
78,511

 
$20.53
 
 
—

 
Granted
33,356

 
$22.78
 
 
—

 
Vested
(68,460
)
 
$20.37
 
 
$
1,534

 
Cancelled/forfeited
(1,916
)
 
$20.37
 
 
—

 
Non-vested and outstanding at September 30, 2014
41,491

 
$22.60
 
 
—

 
Granted
61,972

 
$29.41
 
 
—

 
Vested
(18,170
)
 
$24.45
 
 
$
510

 
Cancelled/forfeited
(3,801
)
 
$26.79
 
 
—

 
Non-vested and outstanding at September 30, 2015
81,492

 
$27.17
 
 
—

 
Summary of Deferred Retention Stock Award
The following table summarizes the deferred retention stock award under the NJR 2007 Stock Award and Incentive Plan for the past three fiscal years:
 
Shares
Weighted Average
Grant Date
Fair Value
Total Fair Value of Vested Shares (in Thousands)
Outstanding at September 30, 2012
98,342

 
$23.59
 
 
—

 
Granted/Vested
134,590

 
$20.31
 
 
—

 
Delivered
—

 
—

 
 
—

 
Forfeited
(9,346
)
 
$21.72
 
 
—

 
Outstanding at September 30, 2013
223,586

 
$21.69
 
 
—

 
Granted/Vested
57,970

 
$22.88
 
 
—

 
Delivered
—

 
—

 
 
—

 
Forfeited
(4,774
)
 
$21.47
 
 
—

 
Outstanding at September 30, 2014
276,782

 
$21.95
 
 
—

 
Granted/Vested
462,790

 
$29.32
 
 
—

 
Delivered
(95,098
)
 
$23.62
 
 
$
2,519

 
Forfeited
(11,744
)
 
$24.69
 
 
—

 
Outstanding at September 30, 2015
632,730

 
$27.03
 
 
—