Inventories and natural gas in storage

9 Months Ended

Sep. 30, 2022

Natural gas in storage for the Company's regulated operations is generally valued at lower of cost or market using the last-in, first-out method or lower of cost or net realizable value using the average cost or first-in, first-out method. The majority of all other inventories are valued at the lower of cost or net realizable value using the average cost method. The portion of the cost of natural gas in storage expected to be used within 12 months was included in inventories. Inventories on the Consolidated Balance Sheets were as follows:


	September 30, 2022		September 30, 2021		December 31, 2021
	(In thousands)
Aggregates held for resale	$	198,711	$	183,693	$	184,363
Asphalt oil	56,609		32,964		57,002
Natural gas in storage (current)	48,532		28,683		18,867
Materials and supplies	42,359		27,253		30,629
Merchandise for resale	39,198		26,639		28,501
Other	13,233		13,053		16,247
Total	$	398,642	$	312,285	$	335,609

The remainder of natural gas in storage, which largely represents the cost of gas required to maintain pressure levels for normal operating purposes, was included in noncurrent assets - other and was $47.2 million at September 30, 2022 and $47.5 million at both September 30, 2021 and December 31, 2021.