INVESTMENTS IN EQUITY INVESTEES (Tables)

12 Months Ended

Sep. 30, 2022

Investments, All Other Investments [Abstract]

Schedule of Equity Method Investments

As of September 30, the Company’s investments in equity method investees includes the following:

(Thousands)	2022		2021
Steckman Ridge (1)	$	106,571	$	109,050
PennEast	—		5,479
Total	$	106,571	$	114,529

(1)Includes loans with a total outstanding principal balance of $70.4 million for both fiscal 2022 and 2021, which accrue interest at a variable rate that resets quarterly and are due October 1, 2023.

The following is the summarized financial information for Steckman Ridge and PennEast for fiscal years ended September 30:

(Thousands)	2022		2021		2020
Steckman Ridge
Operating revenues	$	19,812	$	21,847	$	28,814
Gross profit	$	11,349	$	13,350	$	20,537
Income from continuing operations	$	8,686	$	11,483	$	16,926
Net income	$	8,686	$	11,483	$	16,926
Net income attributable to NJR	$	4,343	$	5,741	$	8,463
Current assets	$	28,609	$	14,786
Noncurrent assets	$	198,052	$	202,670
Current liabilities	$	23,618	$	9,738
Noncurrent liabilities	$	140,810	$	140,810
PennEast
Operating revenues	$	—	$	—	$	—
Gross profit	$	—	$	—	$	—
Income from continuing operations	$	(3,778)	$	(406,305)	$	34,376
Net (loss) income	$	(3,778)	$	(406,305)	$	34,376
Net (loss) income attributable to NJR	$	(756)	$	(81,261)	$	6,875
Current assets	$	1,801	$	822
Noncurrent assets	$	—	$	44,998
Current liabilities	$	82	$	248
Noncurrent liabilities	$	500	$	500