XML 50 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
AFFILIATIONS, DISCONTINUED OPERATIONS AND RELATED-PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Schedule of the fair value of the assets acquired and the liabilities assumed
The following table summarizes the final purchase price allocation and reflects 100% of the fair values of the assets acquired and the liabilities assumed by the Company in connection with the Transaction. Total consideration for the step acquisition of the remaining interest in the Marina Projects was $46.0 million, which represents the fair value of the Company’s interest in the Partner Projects exchanged ($31.5 million) as well as the existing value of the Marina Projects immediately prior to the exchange ($14.5 million) (in thousands):
 
 
Current assets (excluding inventory)
$
7,804

Inventory
3,154

Note Receivable Received
19,504

Fixed Assets
46,460

Intangible Assets:
 
     Identifiable Intangibles
16,950

     Goodwill
4,838

Non-Current Assets
4,783

Current Liabilities
(8,196
)
Note Payable - Affiliate
(16,986
)
Long-Term Debt, including current portion
(21,642
)
Capital Lease Payable
(10,458
)
Other Non-Current Liabilities
(181
)
          Fair Value of Consolidated Assets and Liabilities of Acquired Projects
$
46,030
Summarized operating results of the discontinued operations
Summarized operating results of the discontinued operations for the years ended December 31, were (in thousands, except per share amounts):
 
2017
 
2016
 
2015
Loss before Income Taxes:
 
 
 
 
 
Sand Mining
$
(84
)
 
$
(205
)
 
$
(422
)
Fuel Oil
(175
)
 
(179
)
 
(338
)
Income Tax Benefits
173

 
133

 
257

Loss from Discontinued Operations — Net
$
(86
)
 
$
(251
)
 
$
(503
)
Earnings Per Common Share from
 
 
 

 
 
Discontinued Operations — Net:
 
 
 

 
 
Basic and Diluted
$
—

 
$
—

 
$
(0.01
)
South Jersey Gas Company  
Related Party Transaction [Line Items]  
Schedule of Related Party Transactions
A summary of related party transactions involving SJG, excluding pass-through items, included in SJG's Operating Revenues were as follows (in thousands):

 
2017
 
2016
 
2015
Operating Revenues/Affiliates (See Note 1): 
 
 
 
 
 
SJRG
$
4,458

 
$
6,934

 
$
5,342

Marina
314

 
302

 
185

Other
86

 
83

 
417

Total Operating Revenues/Affiliates
$
4,858

 
$
7,319

 
$
5,944


Related-party transactions involving SJG, excluding pass-through items, included in SJG's Cost of Sales and Operating Expenses were as follows (in thousands):

 
2017
 
2016
 
2015
Costs of Sales/Affiliates (excluding depreciation)
 
 
 
 
 
SJRG*
$
24,337

 
$
16,306

 
$
26,090

 
 
 
 
 
 
Derivative Losses/(Gains) (See Note 1):
 
 
 
 
 
SJRG
$
—

 
$
—

 
$
64

 
 
 
 
 
 
Operations Expense/Affiliates:
 
 
 
 
 
SJI
$
22,154

 
$
20,296

 
$
14,088

Millennium
2,856

 
2,803

 
2,746

Other
(653
)
 
(198
)
 
(412
)
Total Operations Expense/Affiliates
$
24,357

 
$
22,901

 
$
16,422


*As discussed in Note 1 to the consolidated financial statements, revenues and expenses related to the energy trading activities of the wholesale energy operations at SJRG are presented on a net basis in Operating Revenues - Nonutility on the statements of consolidated income.