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COMMON STOCK EQUITY
 9 Months Ended
Jun. 30, 2017
Equity [Abstract]  
COMMON STOCK EQUITY
COMMON STOCK EQUITY

Changes in common stock equity during the nine months ended June 30, 2017, were as follows:
(Thousands)
Number of Shares
Common Stock
Premium on Common Stock
Accumulated Other Comprehensive (Loss) Income
Treasury Stock And Other
Retained Earnings
Total
Balance at September 30, 2016
86,086

$
221,654

$
215,580

 
$
(15,155
)
 
$
(81,044
)
$
825,556

$
1,166,591

Net income



 

 

168,588

168,588

Other comprehensive income



 
4,254

 


4,254

Common stock issued:
 
 
 
 
 
 
 
 
 
Incentive plan
238

595

4,977

 

 



5,572

Dividend reinvestment plan (1)
381


(1,224
)
 

 
14,996


13,772

Cash dividend declared ($.765 per share)



 

 

(66,051
)
(66,051
)
Treasury stock and other
(239
)

(28
)
 

 
(8,097
)

(8,125
)
Balance at June 30, 2017
86,466

$
222,249

$
219,305

 
$
(10,901
)
 
$
(74,145
)
$
928,093

$
1,284,601


(1)
Shares sold through the DRP are issued from treasury stock at average cost, which may differ from the actual market price paid.

NJR satisfies its external common equity requirements, if any, through issuances of its common stock, including the proceeds from stock issuances under its DRP. The DRP allows NJR, at its option, to use treasury shares or newly issued shares to raise capital. In December 2015, NJR registered 5 million shares of NJR common stock for issuance under the DRP. NJR raised $13.8 million and $12.2 million of equity through the DRP, by issuing approximately 381,000 and 368,000 shares of treasury stock, during the nine months ended June 30, 2017 and 2016, respectively.
Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the three months ended June 30, 2017 and 2016:
(Thousands)
Available for Sale Securities
Cash Flow Hedges
Postemployment Benefit Obligation
Total
Balance at March 31, 2017
$
11,121

 
$
—

 
$
(18,718
)
 
$
(7,597
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Other comprehensive (loss),before reclassifications, net of tax of $2,375, $0, $0, $2,375
(3,622
)
 
—

 
—

 
(3,622
)
Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $0, $(217), $(217)
—

 
—

 
318

 
318

Net current-period other comprehensive (loss) income, net of tax of $2,375, $0, $(217), $2,158
(3,622
)
 
—

 
318

 
(3,304
)
Balance at June 30, 2017
$
7,499

 
$
—

 
$
(18,400
)
 
$
(10,901
)
 
 
 
 
 
 
 
 
Balance as of March 31, 2016
$
14,586

 
$
5

 
$
(15,266
)
 
$
(675
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Other comprehensive (loss) income, before reclassifications, net of tax of $3,754, $(3), $0, $3,751
(5,313
)
 
5

 
—

 
(5,308
)
Amounts reclassified from accumulated other comprehensive (loss) income, net of tax of $0, $5, $(174), $(169)
—

 
(10
)
 
256

 
246

Net current-period other comprehensive (loss) income, net of tax of $3,754, $2, $(174), $3,582
(5,313
)
 
(5
)
 
256

 
(5,062
)
Balance as of June 30, 2016
$
9,273

 
$
—

 
$
(15,010
)
 
$
(5,737
)

The following table presents the changes in the components of accumulated other comprehensive income (loss), net of related tax effects during the nine months ended June 30, 2017 and 2016:
(Thousands)
Available for Sale Securities
Cash Flow Hedges
Postemployment Benefit Obligation
Total
Balance at September 30, 2016
$
4,198

 
$
—

 
$
(19,353
)
 
$
(15,155
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Other comprehensive income, before reclassifications, net of tax of $(4,273), $0, $0, $(4,273)
6,474

 
—

 
—

 
6,474

Amounts reclassified from accumulated other comprehensive (loss) income, net of tax of $2,192, $0, $(651), $1,541
(3,173
)
 
—

 
953

(2) 
(2,220
)
Net current-period other comprehensive income, net of tax of $(2,081), $0, $(651), $(2,732)
3,301

 
—

 
953

 
4,254

Balance at June 30, 2017
$
7,499

 
$
—

 
$
(18,400
)
 
$
(10,901
)
 
 
 
 
 
 
 
 
Balance as of September 30, 2015
$
6,385

 
$
—

 
$
(15,779
)
 
$
(9,394
)
Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
Other comprehensive income (loss), before reclassifications, net of tax of $(2,014), $10, $0, $(2,004)
2,888

 
(17
)
 
—

 
2,871

Amounts reclassified from accumulated other comprehensive income, net of tax of $0, $(10), $(523), $(533)
—

 
17

(1) 
769

(2) 
786

Net current-period other comprehensive income, net of tax of ($2,014), $0, $(523), $(2,537)
2,888

 
—

 
769

 
3,657

Balance as of June 30, 2016
$
9,273

 
$
—

 
$
(15,010
)
 
$
(5,737
)
(1)
Consists of realized losses related to foreign currency derivatives, which are reclassified to gas purchases on the Unaudited Condensed Consolidated Statements of Operations. Effective January 1, 2016, the Company elected not to designate its foreign currency derivatives as accounting hedges and, as a result, changes in fair value of the effective portion of the hedges are no longer recorded in OCI.
(2)
Included in the computation of net periodic pension cost, a component of operations and maintenance expense on the Unaudited Condensed Consolidated Statements of Operations.