2015 Q3 Form 10-Q Financial Statement

#000035630915000057 Filed on August 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $438.3M $458.5M $688.3M
YoY Change -25.95% -33.39% -10.32%
Cost Of Revenue $343.4M $386.8M $639.1M
YoY Change -35.2% -39.48% -1.56%
Gross Profit $94.90M $71.70M $49.20M
YoY Change 53.06% 45.73% -58.41%
Gross Profit Margin 21.65% 15.64% 7.15%
Selling, General & Admin $3.100M $8.500M $9.300M
YoY Change -35.42% -8.6% 47.62%
% of Gross Profit 3.27% 11.85% 18.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.20M $15.60M $13.60M
YoY Change 18.25% 14.71% 13.33%
% of Gross Profit 17.07% 21.76% 27.64%
Operating Expenses $88.60M $467.8M $717.5M
YoY Change -2.53% -34.8% -0.42%
Operating Profit $6.257M -$9.309M -$29.21M
YoY Change -121.7% -68.13% -162.14%
Interest Expense -$6.700M $7.327M $6.507M
YoY Change 13.56% 12.6% 8.31%
% of Operating Profit -107.08%
Other Income/Expense, Net $4.000M $1.491M $10.70M
YoY Change -170.18% -86.07% 970.0%
Pretax Income $3.600M -$15.15M -$24.76M
YoY Change -108.91% -38.84% -158.64%
Income Tax $3.000M -$4.318M -$7.808M
% Of Pretax Income 83.33%
Net Earnings $4.197M -$7.460M -$14.27M
YoY Change -117.19% -47.74% -148.96%
Net Earnings / Revenue 0.96% -1.63% -2.07%
Basic Earnings Per Share $0.05 -$0.09 -$0.17
Diluted Earnings Per Share $0.05 -$0.09 -$0.17
COMMON SHARES
Basic Shares Outstanding 85.51M shares 85.45M shares 84.23M shares
Diluted Shares Outstanding 85.45M shares 84.23M shares

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.900M $70.20M $3.300M
YoY Change 122.73% 2027.27% 73.68%
Cash & Equivalents $4.928M $70.18M $3.320M
Short-Term Investments
Other Short-Term Assets $40.99M $27.47M $29.90M
YoY Change 58.18% -8.11% 68.42%
Inventory $171.0M $124.9M $228.8M
Prepaid Expenses
Receivables $150.1M $191.6M $270.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $488.2M $561.8M $695.5M
YoY Change -28.49% -19.22% -7.31%
LONG-TERM ASSETS
Property, Plant & Equipment $2.128B $2.068B $1.818B
YoY Change 12.96% 13.79% 14.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $132.0M $151.9M $152.5M
YoY Change -13.73% -0.39% -1.37%
Other Assets $61.92M $67.16M $53.96M
YoY Change 37.43% 24.47% 78.46%
Total Long-Term Assets $667.9M $578.8M $592.8M
YoY Change 12.82% -2.35% -9.59%
TOTAL ASSETS
Total Short-Term Assets $488.2M $561.8M $695.5M
Total Long-Term Assets $667.9M $578.8M $592.8M
Total Assets $3.284B $3.209B $3.106B
YoY Change 5.09% 3.32% 3.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.65M $89.53M $82.33M
YoY Change -4.19% 8.74% 63.37%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $66.35M $0.00 $174.5M
YoY Change -77.96% -100.0% -41.23%
Long-Term Debt Due $11.10M $36.00M $9.500M
YoY Change -67.83% 278.95% -86.13%
Total Short-Term Liabilities $436.1M $402.7M $682.1M
YoY Change -44.87% -40.97% -14.25%
LONG-TERM LIABILITIES
Long-Term Debt $843.6M $847.5M $626.8M
YoY Change 41.02% 35.21% 21.43%
Other Long-Term Liabilities $8.476M $8.720M $7.339M
YoY Change -1.91% 18.82% -11.45%
Total Long-Term Liabilities $897.7M $835.4M $783.9M
YoY Change 11.75% 6.57% -0.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $436.1M $402.7M $682.1M
Total Long-Term Liabilities $897.7M $835.4M $783.9M
Total Liabilities $1.334B $1.238B $1.466B
YoY Change -16.35% -15.55% -7.37%
SHAREHOLDERS EQUITY
Retained Earnings $777.7M $794.1M $718.3M
YoY Change 15.25% 10.56%
Common Stock $430.8M $432.2M $417.5M
YoY Change 3.06% 3.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $92.16M $97.69M $121.7M
YoY Change -23.85% -19.75%
Treasury Stock Shares 2.805M shares 2.935M shares 2.943M shares
Shareholders Equity $1.107B $1.123B $1.013B
YoY Change
Total Liabilities & Shareholders Equity $3.284B $3.209B $3.106B
YoY Change 3.97% 3.32% 3.83%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $4.197M -$7.460M -$14.27M
YoY Change -117.19% -47.74% -148.96%
Depreciation, Depletion And Amortization $16.20M $15.60M $13.60M
YoY Change 18.25% 14.71% 13.33%
Cash From Operating Activities $8.200M $56.20M -$6.900M
YoY Change -144.57% -914.49% -141.32%
INVESTING ACTIVITIES
Capital Expenditures -$83.70M -$61.20M -$76.70M
YoY Change 1.58% -20.21% 105.08%
Acquisitions
YoY Change
Other Investing Activities -$9.100M -$7.500M -$6.800M
YoY Change 42.19% 10.29% 38.78%
Cash From Investing Activities -$92.80M -$68.70M -$83.60M
YoY Change 4.5% -17.82% 97.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.40M -20.70M 84.30M
YoY Change -81.68% -124.56% 292.09%
NET CHANGE
Cash From Operating Activities 8.200M 56.20M -6.900M
Cash From Investing Activities -92.80M -68.70M -83.60M
Cash From Financing Activities 19.40M -20.70M 84.30M
Net Change In Cash -65.20M -33.20M -6.200M
YoY Change 4915.38% 435.48% 51.22%
FREE CASH FLOW
Cash From Operating Activities $8.200M $56.20M -$6.900M
Capital Expenditures -$83.70M -$61.20M -$76.70M
Free Cash Flow $91.90M $117.4M $69.80M
YoY Change 43.59% 68.19% 29.02%

Facts In Submission

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us-gaap Depreciation And Amortization
DepreciationAndAmortization
45164000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
39014000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45164000 USD
CY2014Q3 us-gaap Derivative Assets
DerivativeAssets
69877000 USD
CY2015Q2 us-gaap Derivative Assets
DerivativeAssets
46268000 USD
CY2014Q3 us-gaap Derivative Assets Current
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64223000 USD
CY2015Q2 us-gaap Derivative Assets Current
DerivativeAssetsCurrent
38291000 USD
CY2014Q3 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
5654000 USD
CY2015Q2 us-gaap Derivative Assets Noncurrent
DerivativeAssetsNoncurrent
7977000 USD
CY2015Q2 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
0.0326
CY2014Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
86553000 USD
CY2015Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
55404000 USD
CY2014Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
79863000 USD
CY2015Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
52989000 USD
CY2014Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
6690000 USD
CY2015Q2 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
2415000 USD
CY2014Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
39000 USD
CY2015Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
40000 USD
us-gaap Dividends Cash
DividendsCash
57517000 USD
CY2014Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
19001000 USD
CY2015Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
19269000 USD
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.98
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.08
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.96
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.05
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.282
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.243
CY2014Q3 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
277516000 USD
CY2015Q2 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
117115000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1344000 USD
CY2014Q3 us-gaap Equity Method Investments
EquityMethodInvestments
153010000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8056000 USD
CY2015Q2 us-gaap Equity Method Investments
EquityMethodInvestments
151923000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
348000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
838000 USD
CY2014Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
9437000 USD
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
50894000 USD
CY2015Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
8319000 USD
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
47272000 USD
CY2014Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
3900000 USD
CY2015Q2 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
5200000 USD
CY2014Q3 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
205901000 USD
CY2015Q2 us-gaap Gas Purchase Payable Current
GasPurchasePayableCurrent
158562000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-24763000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
223711000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-15145000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
223707000 USD
CY2014Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2681000 USD
CY2015Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3367000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9749000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-1364000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-3909000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7808000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
65377000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4318000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56693000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
12782000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
22818000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8439000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-26829000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
37575000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8566000 USD
us-gaap Increase Decrease In Allowance For Equity Funds Used During Construction
IncreaseDecreaseInAllowanceForEquityFundsUsedDuringConstruction
1154000 USD
us-gaap Increase Decrease In Allowance For Equity Funds Used During Construction
IncreaseDecreaseInAllowanceForEquityFundsUsedDuringConstruction
3371000 USD
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-4738000 USD
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-5784000 USD
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
0 USD
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-50000 USD
us-gaap Increase Decrease In Inventories
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-100021000 USD
us-gaap Increase Decrease In Inventories
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-160809000 USD
us-gaap Increase Decrease In Operating Capital
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-83223000 USD
us-gaap Increase Decrease In Operating Capital
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-88290000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
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-15735000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-22572000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
10434000 USD
us-gaap Increase Decrease In Other Noncurrent Liabilities
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34214000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-10075000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
531000 USD
us-gaap Increase Decrease In Payables To Broker Dealers
IncreaseDecreaseInPayablesToBrokerDealers
-19045000 USD
us-gaap Increase Decrease In Recoverable Refundable Gas Costs
IncreaseDecreaseInRecoverableRefundableGasCosts
-18109000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-100000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
1484000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
6507000 USD
us-gaap Interest Expense
InterestExpense
19108000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
7327000 USD
us-gaap Interest Expense
InterestExpense
21005000 USD
us-gaap Interest Paid Net
InterestPaidNet
12419000 USD
us-gaap Interest Paid Net
InterestPaidNet
14324000 USD
CY2014Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
278000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
790000 USD
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
-25000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
311000 USD
CY2014Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
153010000 USD
CY2015Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
151923000 USD
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3158804000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3208924000 USD
CY2014Q3 us-gaap Liabilities Current
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CY2015Q2 us-gaap Liabilities Current
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402665000 USD
CY2014Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
803343000 USD
CY2015Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
835426000 USD
CY2014Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
598209000 USD
CY2015Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
847521000 USD
CY2014Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
34505000 USD
CY2015Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
36032000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-182288000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-82785000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-193822000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-228946000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
376461000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
379760000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-14274000 USD
us-gaap Net Income Loss
NetIncomeLoss
166390000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-7460000 USD
us-gaap Net Income Loss
NetIncomeLoss
176763000 USD
CY2014Q3 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
27300000 USD
CY2015Q2 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
33700000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
2916203000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
2053487000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-29208000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
230028000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-9309000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
242194000 USD
CY2014Q3 us-gaap Other Assets Current
OtherAssetsCurrent
25911000 USD
CY2015Q2 us-gaap Other Assets Current
OtherAssetsCurrent
27474000 USD
CY2014Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
55724000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
67162000 USD
CY2014Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
95000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
-14000 USD
CY2015Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
6000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent
56000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
353000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
150000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-394000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-319000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
60000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-717000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
834000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
675000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-318000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
364000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-161000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-483000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-246000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-732000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-111000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-334000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-169000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-506000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
470000 USD
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
243000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
162000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-24000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
6000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
93000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
511000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
216000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-570000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-461000 USD
CY2014Q2 us-gaap Other Cost And Expense Operating
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45995000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
149291000 USD
CY2015Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
48598000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
146135000 USD
CY2014Q3 us-gaap Other Inventory
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8165000 USD
CY2015Q2 us-gaap Other Inventory
OtherInventory
7757000 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8641000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8720000 USD
CY2014Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
10952000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
12791000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
91569000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
111588000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
636000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
90381000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
96626000 USD
CY2015Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1491000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2518000 USD
CY2014Q3 us-gaap Other Receivables From Broker Dealers And Clearing Organizations
OtherReceivablesFromBrokerDealersAndClearingOrganizations
27339000 USD
CY2015Q2 us-gaap Other Receivables From Broker Dealers And Clearing Organizations
OtherReceivablesFromBrokerDealersAndClearingOrganizations
23873000 USD
us-gaap Payments For Environmental Liabilities
PaymentsForEnvironmentalLiabilities
3391000 USD
us-gaap Payments For Environmental Liabilities
PaymentsForEnvironmentalLiabilities
4745000 USD
us-gaap Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
18690000 USD
us-gaap Payments For Proceeds From Removal Costs
PaymentsForProceedsFromRemovalCosts
19114000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4387000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9045000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
52922000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
57226000 USD
CY2014Q2 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
CY2015Q2 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1049000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2313000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
3618000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
2466000 USD
CY2014Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
86674000 USD
CY2015Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
88646000 USD
CY2014Q3 us-gaap Prepaid Taxes
PrepaidTaxes
22269000 USD
CY2015Q2 us-gaap Prepaid Taxes
PrepaidTaxes
23736000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
12161000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
33659000 USD
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
10900000 USD
us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
13100000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
125000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
250000000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-191100000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-301000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
6010000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2014Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
84511000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
201276000 USD
CY2015Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
68996000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
227418000 USD
CY2014Q3 us-gaap Property Plant And Equipment Gross
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2333543000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2551281000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1884110000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2068297000 USD
CY2014Q3 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
347285000 USD
CY2015Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
455017000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1685000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2143000 USD
CY2014Q3 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
409135000 USD
CY2015Q2 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
429535000 USD
CY2014Q3 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
139624000 USD
CY2015Q2 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
152890000 USD
CY2014Q3 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
1791009000 USD
CY2015Q2 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
1874823000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-615000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1081000 USD
CY2014Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
688257000 USD
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
3146231000 USD
CY2015Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
458467000 USD
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
2295681000 USD
CY2014Q2 us-gaap Regulated Operating Revenue Gas
RegulatedOperatingRevenueGas
111383000 USD
us-gaap Regulated Operating Revenue Gas
RegulatedOperatingRevenueGas
739380000 USD
CY2015Q2 us-gaap Regulated Operating Revenue Gas
RegulatedOperatingRevenueGas
116307000 USD
us-gaap Regulated Operating Revenue Gas
RegulatedOperatingRevenueGas
699737000 USD
CY2014Q3 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
26862000 USD
CY2015Q2 us-gaap Regulatory Assets Current
RegulatoryAssetsCurrent
29623000 USD
CY2014Q3 us-gaap Regulatory Assets Noncurrent
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377575000 USD
CY2015Q2 us-gaap Regulatory Assets Noncurrent
RegulatoryAssetsNoncurrent
351763000 USD
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6072000 USD
CY2015Q2 us-gaap Regulatory Liability Current
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11284000 USD
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61326000 USD
CY2015Q2 us-gaap Regulatory Liability Noncurrent
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66233000 USD
CY2014Q2 us-gaap Related Parties Amount In Cost Of Sales
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3158000 USD
us-gaap Related Parties Amount In Cost Of Sales
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9497000 USD
CY2015Q2 us-gaap Related Parties Amount In Cost Of Sales
RelatedPartiesAmountInCostOfSales
3102000 USD
us-gaap Related Parties Amount In Cost Of Sales
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9490000 USD
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-1398000 USD
CY2015Q2 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
-1416000 USD
us-gaap Repayments Of Long Term Debt
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78964000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7227000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
674829000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
794075000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
7576000 USD
us-gaap Sale Leaseback Transaction Net Proceeds Financing Activities
SaleLeasebackTransactionNetProceedsFinancingActivities
7216000 USD
CY2014Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
301000000 USD
CY2015Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
0 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
235000 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
330000 shares
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
966166000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1123312000 USD
CY2015Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2014Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2932775 shares
CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
2935153 shares
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
121031000 USD
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
97688000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
-9559000 USD
CY2014Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
7231000 USD
CY2015Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
6707000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-45810000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
19010000 USD
CY2014Q2 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
576874000 USD
us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
2406851000 USD
CY2015Q2 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
342160000 USD
us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
1595944000 USD
CY2014Q2 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
9337000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
67380000 USD
CY2015Q2 us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
8516000 USD
us-gaap Utilities Operating Expense Other
UtilitiesOperatingExpenseOther
72671000 USD
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
768000 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1018000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84234000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
84912000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
85449000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86128000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84234000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84144000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85449000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85110000 shares
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NATURE OF THE BUSINESS</font></div><div style="line-height:120%;text-align:justify;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Jersey Resources Corporation provides regulated gas distribution services and operates certain unregulated businesses primarily through the following subsidiaries:</font></div><div style="line-height:120%;text-align:justify;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Jersey Natural Gas Company provides natural gas utility service to approximately </font><font style="font-family:inherit;font-size:10pt;">512,000</font><font style="font-family:inherit;font-size:10pt;"> retail customers in central and northern New Jersey and is subject to rate regulation by the BPU. NJNG comprises the Natural Gas Distribution segment;</font></div><div style="line-height:120%;text-align:justify;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NJR Energy Services Company comprises the Energy Services segment that maintains and transacts around a portfolio of natural gas storage and transportation capacity contracts and provides wholesale energy and energy management services;</font></div><div style="line-height:120%;text-align:justify;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NJR Clean Energy Ventures Corporation, the Company's distributed power subsidiary, comprises the Clean Energy Ventures segment and consists of the Company's capital investments in distributed power projects, including commercial and residential solar projects and onshore wind investments;</font></div><div style="line-height:120%;text-align:justify;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NJR Midstream Holdings Corporation invests in energy-related ventures through its subsidiaries, NJR Steckman Ridge Storage Company, which holds the Company's </font><font style="font-family:inherit;font-size:10pt;">50 percent</font><font style="font-family:inherit;font-size:10pt;"> combined interest in Steckman Ridge, NJNR Pipeline Company, which holds the Company's </font><font style="font-family:inherit;font-size:10pt;">5.53 percent</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in Iroquois Gas Transmission L.P</font><font style="font-family:inherit;font-size:10pt;text-align:justify;vertical-align:bottom;"> and NJR Pipeline Company, which holds the Company's </font><font style="font-family:inherit;font-size:10pt;text-align:justify;vertical-align:bottom;">20 percent</font><font style="font-family:inherit;font-size:10pt;text-align:justify;vertical-align:bottom;"> ownership interest in PennEast</font><font style="font-family:inherit;font-size:10pt;">. Steckman Ridge, Iroquois and PennEast comprise the Midstream segment; and</font></div><div style="line-height:120%;text-align:justify;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NJR Retail Holdings Corporation has </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> principal subsidiaries, NJR Home Services Company and Commercial Realty &amp; Resources Corporation. Retail Holdings and NJR Energy Corporation are included in Home Services and Other operations.</font></div></div>

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