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REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables)
 6 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information related to the Company's various reporting segments and other operations during the three months ended March 31, 2024 and 2023, are as follows:
Segments
(Thousands)NJNGCEVESS&TSubtotalHSOElimsTotal
2024
Operating revenues
External customers$462,863 9,325 148,604 (1)22,369 $643,161 14,752 — $657,913 
Intercompany$338 — (3,742)673 $(2,731)153 2,578 $— 
Depreciation and amortization$27,464 6,931 56 (2)6,218 $40,669 271 (865)$40,075 
Interest income (3)
$517 — 143 2,518 $3,178 332 (1,474)$2,036 
Interest expense, net of capitalized interest$14,850 7,182 3,513 5,868 $31,413 208 — $31,621 
Income tax provision (benefit)$24,476 (1,594)5,289 619 $28,790 520 4,637 $33,947 
Equity in earnings of affiliates$— — — 85 $85 — 653 $738 
Net financial earnings (loss)$107,095 (5,616)37,644 1,981 $141,104 384 (2,912)$138,576 
Capital expenditures$97,710 11,317 — 13,523 $122,550 130 — $122,680 
2023
Operating revenues
External customers$400,500 14,406 196,553 (1)19,303 $630,762 13,265 — $644,027 
Intercompany$338 — 177 1,584 $2,099 183 (2,282)$— 
Depreciation and amortization$25,319 6,465 62 (2)6,020 $37,866 224 — $38,090 
Interest income (3)
$376 — 380 1,684 $2,440 734 (938)$2,236 
Interest expense, net of capitalized interest$13,879 7,316 2,749 6,128 $30,072 189 — $30,261 
Income tax provision (benefit)$23,924 (3,005)5,916 596 $27,431 488 2,667 $30,586 
Equity in earnings of affiliates$— — — 977 $977 — 154 $1,131 
Net financial earnings (loss)$100,697 (9,379)21,125 2,450 $114,893 813 (3,396)$112,310 
Capital expenditures$92,600 13,706 — 10,122 $116,428 760 — $117,188 
(1)Includes sales to Canada for the ES segment, which are immaterial.
(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.
(3)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.
Information related to the Company's various reporting segments and other operations during the six months ended March 31, 2024 and 2023, are as follows:
Segments
(Thousands)NJNGCEVESS&TSubtotalHSOElimsTotal
2024
Operating revenues
External customers$755,956 44,620 249,405 (1)45,556 $1,095,537 29,586 — $1,125,123 
Intercompany$675 — (4,875)1,348 $(2,852)153 2,699 $— 
Depreciation and amortization$54,381 13,853 113 (2)12,380 $80,727 500 (865)$80,362 
Interest income (3)
$1,095 — 271 4,888 $6,254 688 (2,880)$4,062 
Interest expense, net of capitalized interest$29,601 14,629 6,639 11,801 $62,670 424 — $63,094 
Income tax provision$35,132 1,537 12,800 1,651 $51,120 468 5,295 $56,883 
Equity in earnings of affiliates$— — — 1,078 $1,078 — 1,320 $2,398 
Net financial earnings (loss)$158,539 4,906 45,475 5,621 $214,541 (216)(3,305)$211,020 
Capital expenditures$177,425 37,083 — 21,308 $235,816 1,486 — $237,302 
2023
Operating revenues
External customers$757,909 27,198 509,952 (1)45,017 $1,340,076 27,518 — $1,367,594 
Intercompany$675 — 8,560 2,708 $11,943 196 (12,139)$— 
Depreciation and amortization$50,209 12,041 119 (2)11,962 $74,331 442 — $74,773 
Interest income (3)
$789 — 649 3,085 $4,523 1,388 (1,716)$4,195 
Interest expense, net of capitalized interest$27,588 13,211 5,807 12,835 $59,441 311 — $59,752 
Income tax provision (benefit)$38,307 (4,842)25,980 2,539 $61,984 705 875 $63,564 
Equity in earnings of affiliates$— — — 1,886 $1,886 — 191 $2,077 
Net financial earnings (loss)$155,361 (12,961)73,658 8,693 $224,751 784 (2,941)$222,594 
Capital expenditures$174,671 57,699 — 29,841 $262,211 900 — $263,111 
(1)Includes sales to Canada for the ES segment, which are immaterial.
(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.
(3)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.
Schedule of Assets for Business Segments and Business Operations
The Company's assets for the various reporting segments and business operations are detailed below:
SegmentsIntercompany
(Thousands)NJNGCEVESS&TSubtotalHSO
Assets (1)
Total
March 31, 2024$4,527,458 1,124,392 104,094 1,012,899 $6,768,843 171,594 (293,060)$6,647,377 
September 30, 2023$4,414,829 1,128,577 123,775 1,011,959 $6,679,140 171,275 (312,919)$6,537,496 
(1)Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.
Schedule of Reconciliation of Consolidated NFE to Consolidated Net Income A reconciliation of consolidated NFE to consolidated net income is as follows:
Three Months EndedSix Months Ended
March 31,March 31,
(Thousands)2024202320242023
Net financial earnings$138,576 $112,310 $211,020 $222,594 
Less:
Unrealized loss (gain) on derivative instruments and related transactions25,457 13,971 20,057 (17,532)
Tax effect(6,049)(3,320)(4,767)4,167 
Effects of economic hedging related to natural gas inventory(2,845)(11,203)(19,073)12,769 
Tax effect676 2,662 4,533 (3,035)
Gain on equity method investment— (200)— (200)
Tax effect— 50 — 50 
NFE tax adjustment525 103 47 207 
Net income$120,812 $110,247 $210,223 $226,168