SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Summary of Gas in Storage

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

	June 30, 2016				September 30, 2015
($ in thousands)	Gas in Storage			Bcf	Gas in Storage			Bcf
NJRES		$	110,782	64.0		$	93,696	44.6
NJNG		48,291		16.0		70,209		21.4
Total		$	159,073	80.0		$	163,905	66.0

Accounts Receivable by Subsidiary

Customer accounts receivable include outstanding billings from the following subsidiaries as of:

(Thousands)	June 30, 2016				September 30, 2015
NJRES	$	90,643	63	%	$	107,461	69	%
NJNG (1)	46,885		33		41,130		26
NJRCEV	1,714		1		1,084		1
NJRHS and other	4,835		3		5,598		4
Total	$	144,077	100	%	$	155,273	100	%

(1) Does not include unbilled revenues of $6.3 million and $6.4 million as of June 30, 2016 and September 30, 2015, respectively.

Schedule of Retrospective Application of New Accounting Standard

Accordingly, the following amounts on the Unaudited Condensed Consolidated Balance Sheets, as of September 30, 2015, have been adjusted:

(Thousands)	As Previously Reported		Effect of Change			As Adjusted
Assets
Deferred taxes (current)	$	56,296	$	(56,296	)	$	—
Total current assets	$	544,511	$	(56,296	)	$	488,215
Other noncurrent assets	$	60,300	$	1,615		$	61,915
Total noncurrent assets	$	666,266	$	1,615		$	667,881
Total assets	$	3,339,038	$	(54,681	)	$	3,284,357
Capitalization and Liabilities
Deferred income taxes	$	499,616	$	(54,681	)	$	444,935
Total noncurrent liabilities	$	952,387	$	(54,681	)	$	897,706
Total capitalization and liabilities	$	3,339,038	$	(54,681	)	$	3,284,357

In addition, the following amounts on the Unaudited Condensed Consolidated Statements of Cash Flows have been adjusted retrospectively, as of June 30, 2015:

(Thousands)	As Previously Reported			Effect of Change			As Adjusted
Cash flows from operating activities
Tax benefit from stock based compensation	$	—		$	838		$	838
Other noncurrent liabilities	$	34,214		$	2,136		$	36,350
Net cash flows provided from operating activities	$	379,760		$	2,974		$	382,734
Cash flows (used in) financing activities
Tax benefit from stock options exercised	$	838		$	(838	)	$	—
Tax withholding payments related to net settled stock compensation	$	—		$	(2,136	)	$	(2,136	)
Cash flows (used in) financing activities	$	(82,785	)	$	(2,974	)	$	(85,759	)