FAIR VALUE (Tables)

3 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The estimated fair value of long-term debt at NJNG and NJR, including current maturities, excluding capital leases and debt issuance costs, is as follows:

(Thousands)	December 31, 2016		September 30, 2016
Carrying value (1)	$	1,082,845	$	1,082,845
Fair market value	$	1,079,431	$	1,131,077

(1) Excludes capital leases of $49 million and $42.2 million as of December 31, 2016 and September 30, 2016, respectively.

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 December 31, 2016:
Assets:
Physical commodity contracts		$	—		$	8,850		$	—	$	8,850
Financial commodity contracts		45,025			—			—		45,025
Available for sale equity securities - energy industry		64,447			—			—		64,447
Other (1)		33,614			—			—		33,614
Total assets at fair value		$	143,086		$	8,850		$	—	$	151,936
Liabilities:
Physical commodity contracts		$	—		$	7,247		$	—	$	7,247
Financial commodity contracts		87,567			—			—		87,567
Financial commodity contracts - foreign exchange		—			91			—		91
Interest rate contracts		—			2,702			—		2,702
Total liabilities at fair value		$	87,567		$	10,040		$	—	$	97,607
As of September 30, 2016:
Assets:
Physical commodity contracts		$	—		$	10,216		$	—	$	10,216
Financial commodity contracts		24,974			—			—		24,974
Financial commodity contracts - foreign exchange		—			1			—		1
Available for sale equity securities - energy industry		55,789			—			—		55,789
Other (1)		35,516			—			—		35,516
Total assets at fair value		$	116,279		$	10,217		$	—	$	126,496
Liabilities:
Physical commodity contracts		$	—		$	14,026		$	—	$	14,026
Financial commodity contracts		49,201			—			—		49,201
Financial commodity contracts - foreign exchange		—			32			—		32
Interest rate contracts		—			23,073			—		23,073
Total liabilities at fair value		$	49,201		$	37,131		$	—	$	86,332

(1) Includes various money market funds.