2023 Q2 Form 10-Q Financial Statement

#000035630923000037 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $264.1M $384.4M
YoY Change -52.19% -57.86%
Cost Of Revenue $120.1M $318.5M
YoY Change -69.43% -49.06%
Gross Profit $143.9M $325.5M
YoY Change -9.7% 13.42%
Gross Profit Margin 54.51% 84.68%
Selling, General & Admin $6.120M $25.73M
YoY Change -43.78% -24.33%
% of Gross Profit 4.25% 7.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.88M $38.09M
YoY Change 18.27% 21.17%
% of Gross Profit 27.01% 11.7%
Operating Expenses $139.2M $160.3M
YoY Change 7.41% 8.24%
Operating Profit $4.734M $165.2M
YoY Change -84.12% 18.94%
Interest Expense -$30.12M $30.26M
YoY Change -240.67% 59.89%
% of Operating Profit -636.23% 18.32%
Other Income/Expense, Net $5.711M $4.779M
YoY Change 33.19% 15.8%
Pretax Income -$19.67M $139.7M
YoY Change -255.08% 12.59%
Income Tax -$20.51M $30.59M
% Of Pretax Income 21.89%
Net Earnings $1.532M $110.2M
YoY Change -88.26% 14.8%
Net Earnings / Revenue 0.58% 28.68%
Basic Earnings Per Share $0.02 $1.14
Diluted Earnings Per Share $0.02 $1.13
COMMON SHARES
Basic Shares Outstanding 96.96M shares 96.89M shares
Diluted Shares Outstanding 97.89M shares 97.56M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $511.0K $27.10M
YoY Change -98.15% 94.84%
Cash & Equivalents $511.0K $27.10M
Short-Term Investments
Other Short-Term Assets $24.24M $22.82M
YoY Change 10.45% -0.15%
Inventory $185.9M $108.5M
Prepaid Expenses
Receivables $97.96M $183.0M
Other Receivables $15.00M $14.90M
Total Short-Term Assets $520.4M $616.0M
YoY Change -29.69% 10.78%
LONG-TERM ASSETS
Property, Plant & Equipment $5.057B $4.991B
YoY Change 7.35% 8.07%
Goodwill
YoY Change
Intangibles $567.0K $1.065M
YoY Change -80.4% -69.09%
Long-Term Investments $104.4M $105.1M
YoY Change -3.53% -4.41%
Other Assets $67.16M $72.75M
YoY Change 15.29% 21.99%
Total Long-Term Assets $5.792B $5.680B
YoY Change 6.83% 6.89%
TOTAL ASSETS
Total Short-Term Assets $520.4M $616.0M
Total Long-Term Assets $5.792B $5.680B
Total Assets $6.313B $6.296B
YoY Change 2.45% 7.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $122.2M $121.8M
YoY Change -5.56% -1.13%
Accrued Expenses $5.273M $5.308M
YoY Change 7.77% 8.82%
Deferred Revenue $42.47M $41.25M
YoY Change -7.78% -23.77%
Short-Term Debt $145.2M $187.7M
YoY Change -60.79% -37.91%
Long-Term Debt Due $162.3M $152.2M
YoY Change 556.94% 520.13%
Total Short-Term Liabilities $669.0M $711.5M
YoY Change -31.0% -19.35%
LONG-TERM LIABILITIES
Long-Term Debt $2.729B $2.642B
YoY Change 8.08% 13.92%
Other Long-Term Liabilities $11.21M $11.17M
YoY Change 27.2% 40.13%
Total Long-Term Liabilities $919.7M $941.6M
YoY Change 2.28% 6.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $669.0M $711.5M
Total Long-Term Liabilities $919.7M $941.6M
Total Liabilities $1.589B $1.653B
YoY Change -14.98% -6.41%
SHAREHOLDERS EQUITY
Retained Earnings $1.182B $1.218B
YoY Change 12.49% 13.61%
Common Stock $798.0M $771.7M
YoY Change 4.97% 1.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.995B $2.001B
YoY Change
Total Liabilities & Shareholders Equity $6.313B $6.296B
YoY Change 2.45% 7.26%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $1.532M $110.2M
YoY Change -88.26% 14.8%
Depreciation, Depletion And Amortization $38.88M $38.09M
YoY Change 18.27% 21.17%
Cash From Operating Activities $44.78M $432.1M
YoY Change -147.35% 17.45%
INVESTING ACTIVITIES
Capital Expenditures $105.1M $107.8M
YoY Change -181.53% -183.47%
Acquisitions
YoY Change
Other Investing Activities -$11.30M -$8.415M
YoY Change 23.36% 128.54%
Cash From Investing Activities -$116.4M -$116.2M
YoY Change -15.69% -12.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 45.13M -291.2M
YoY Change -81.62% 30.92%
NET CHANGE
Cash From Operating Activities 44.78M 432.1M
Cash From Investing Activities -116.4M -116.2M
Cash From Financing Activities 45.13M -291.2M
Net Change In Cash -26.54M 24.69M
YoY Change -307.43% 95.21%
FREE CASH FLOW
Cash From Operating Activities $44.78M $432.1M
Capital Expenditures $105.1M $107.8M
Free Cash Flow -$60.36M $324.3M
YoY Change -275.59% -34.74%

Facts In Submission

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Assets
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-439000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
2000836000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
1630862000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
111312000 usd
CY2021Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1030000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7502000 usd
CY2021Q4 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
3678000 usd
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3625
CY2021Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
34787000 usd
CY2021Q4 njr Stockholders Equity Treasury Stock Activity And Other
StockholdersEquityTreasuryStockActivityAndOther
2619000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
1716978000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
96035000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1031000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1307000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
3721000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3325
CY2022Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
34827000 usd
CY2022Q1 njr Stockholders Equity Treasury Stock Activity And Other
StockholdersEquityTreasuryStockActivityAndOther
-42000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
1784287000 usd
us-gaap Nature Of Operations
NatureOfOperations
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1. NATURE OF THE BUSINESS</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company provides regulated natural gas distribution services, transmission and storage services and operates certain unregulated businesses primarily through the following:</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NJNG provides natural gas utility service to approximately 574,500 customers throughout Burlington, Middlesex, Monmouth, Morris, Ocean and Sussex counties in New Jersey and is subject to rate regulation by the BPU. NJNG comprises the Natural Gas Distribution segment.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NJRCEV, the Company's clean energy subsidiary, comprises the Clean Energy Ventures segment and invests in, owns and operates clean energy projects, including commercial and residential solar installations located in New Jersey, Connecticut, Rhode Island and New York.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NJRES comprises the Energy Services segment. Energy Services maintains and transacts around a portfolio of natural gas transportation and storage capacity contracts and provides physical wholesale energy, retail energy and energy management services in the U.S. and Canada.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">NJR Midstream Holdings Corporation, which comprises the Storage and Transportation segment, invests in energy-related ventures through its subsidiaries. The Company operates natural gas storage and transmission assets through the wholly-owned subsidiaries of Leaf River and Adelphia Gateway, and is subject to rate regulation by FERC. The Company holds a 50 percent combined ownership interest in Steckman Ridge, located in Pennsylvania which are accounted for under the equity method of accounting and 20 percent ownership interest in PennEast, which ceased operations in fiscal 2022. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NJR Retail Holdings Corporation has one principal subsidiary, NJRHS, which provides heating, central air conditioning, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey. NJRHS is included in Home Services and Other Operations.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires the Company to make estimates that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingencies during the reporting period. On a quarterly basis or more frequently whenever events or changes in circumstances indicate a need, the Company evaluates its estimates, including those related to the calculation of the fair value of derivative instruments, debt, equity method investments, unbilled revenues, allowance for doubtful accounts, provisions for depreciation and amortization, long-lived assets, regulatory assets and liabilities, income taxes, pensions and other postemployment benefits, contingencies related to environmental matters and litigation. Asset retirement obligations are evaluated periodically as required. The Company’s estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has legal, regulatory and environmental proceedings during the normal course of business that can result in loss contingencies. When evaluating the potential for a loss, the Company will establish a reserve if a loss is probable and can be reasonably estimated, in which case it is the Company’s policy to accrue the full amount of such estimates. Where the information is sufficient only to establish a range of probable liability, and no point within the range is more likely than any other, it is the Company’s policy to accrue the lower end of the range. In the normal course of business, estimated amounts are subsequently adjusted to actual results that may differ from estimates.</span></div>
CY2021Q3 njr Number Of Megawatts
NumberOfMegawatts
5 megawatt
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-609000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27095000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1107000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13906000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
461000 usd
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
345000 usd
CY2022Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1294000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27556000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1452000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15200000 usd
CY2022Q1 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
312000 usd
CY2023Q1 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
35700000 usd
CY2022Q3 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
34700000 usd
CY2023Q1 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
84916000 usd
CY2023Q1 njr Energy Related Inventory Natural Gasin Storage Bcf
EnergyRelatedInventoryNaturalGasinStorageBCF
18300000 bcf
CY2022Q3 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
273644000 usd
CY2022Q3 njr Energy Related Inventory Natural Gasin Storage Bcf
EnergyRelatedInventoryNaturalGasinStorageBCF
39800000 bcf
CY2022Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-1031000 usd
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
184000 usd
CY2023Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
6980000 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
6120000 usd
CY2023Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
148000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
261000 usd
CY2022Q1 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
113000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
225000 usd
CY2023Q1 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
93000 usd
CY2023Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-305000 usd
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
624000 usd
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-2061000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
384433000 usd
CY2023Q1 njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
27270000 usd
CY2023Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
232501000 usd
CY2023Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
259594000 usd
CY2023Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
644027000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
432643000 usd
CY2022Q1 njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
2504000 usd
CY2022Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
478745000 usd
CY2022Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
479673000 usd
CY2022Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
912316000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
748984000 usd
njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
23805000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
603365000 usd
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
618610000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1367594000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
716733000 usd
njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
13158000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
863299000 usd
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
871425000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1588158000 usd
CY2023Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
259594000 usd
CY2023Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
644027000 usd
CY2022Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
479673000 usd
CY2022Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
912316000 usd
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
618610000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1367594000 usd
us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
871425000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1588158000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
33246000 usd
njr Contract With Customer Increase Decrease For Contract Liability
ContractWithCustomerIncreaseDecreaseForContractLiability
-7725000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
25521000 usd
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32586000 usd
njr Contract With Customer Increase Decrease For Contract Liability
ContractWithCustomerIncreaseDecreaseForContractLiability
-12302000 usd
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
20284000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
25521000 usd
CY2023Q1 njr Contract With Customer Assets Liabilities Net
ContractWithCustomerAssetsLiabilitiesNet
214972000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
33246000 usd
CY2022Q3 njr Contract With Customer Assets Liabilities Net
ContractWithCustomerAssetsLiabilitiesNet
202820000 usd
CY2021Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
92000000 usd
us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
181505000 usd
CY2023Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
955000 usd
CY2022Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
161000 usd
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
35200000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
30300000 usd
CY2021Q2 njr Equity Method Investment Other Than Temporary Impairment Net Of Tax
EquityMethodInvestmentOtherThanTemporaryImpairmentNetOfTax
74500000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
110247000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
96035000 usd
us-gaap Net Income Loss
NetIncomeLoss
226168000 usd
us-gaap Net Income Loss
NetIncomeLoss
207347000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96893000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96068000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96689000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96006000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.16
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96893000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96068000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96689000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96006000 shares
CY2023Q1 njr Incremental Common Shares Attributableto Other Dilutive Effect
IncrementalCommonSharesAttributabletoOtherDilutiveEffect
663000 shares
CY2022Q1 njr Incremental Common Shares Attributableto Other Dilutive Effect
IncrementalCommonSharesAttributabletoOtherDilutiveEffect
448000 shares
njr Incremental Common Shares Attributableto Other Dilutive Effect
IncrementalCommonSharesAttributabletoOtherDilutiveEffect
657000 shares
njr Incremental Common Shares Attributableto Other Dilutive Effect
IncrementalCommonSharesAttributabletoOtherDilutiveEffect
474000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97556000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96516000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97346000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96480000 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.15
njr Effective Income Tax Rate Reconciliation Forecasted Percent
EffectiveIncomeTaxRateReconciliationForecastedPercent
0.221
njr Effective Income Tax Rate Reconciliation Forecasted Percent
EffectiveIncomeTaxRateReconciliationForecastedPercent
0.223
njr Effective Income Tax Rate Reconciliation Discrete Adjustments Amount
EffectiveIncomeTaxRateReconciliationDiscreteAdjustmentsAmount
-554000 usd
njr Effective Income Tax Rate Reconciliation Discrete Adjustments Amount
EffectiveIncomeTaxRateReconciliationDiscreteAdjustmentsAmount
-166000 usd
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.219
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.223
CY2023Q1 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
171600000 usd
CY2022Q3 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
211800000 usd
njr Operating Loss Carryforward Expiration Terms
OperatingLossCarryforwardExpirationTerms
P20Y
CY2023Q1 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
56400000 usd
CY2022Q3 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
56600000 usd
CY2023Q1 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
16800000 usd
CY2022Q3 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
17200000 usd
CY2020Q4 njr Investment Tax Credit Solar Property Percentage
InvestmentTaxCreditSolarPropertyPercentage
0.26
CY2021Q4 njr Investment Tax Credit Solar Property Percentage
InvestmentTaxCreditSolarPropertyPercentage
0.26
CY2022Q4 njr Investment Tax Credit Solar Property Percentage
InvestmentTaxCreditSolarPropertyPercentage
0.26
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2307000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2915000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
4724000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
5034000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
540000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
457000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1025000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
853000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
298000 usd
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
104000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
533000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
184000 usd
CY2023Q1 njr Finance Lease Cost
FinanceLeaseCost
838000 usd
CY2022Q1 njr Finance Lease Cost
FinanceLeaseCost
561000 usd
njr Finance Lease Cost
FinanceLeaseCost
1558000 usd
njr Finance Lease Cost
FinanceLeaseCost
1037000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
12000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
272000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
172000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
495000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
363000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
3417000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
3660000 usd
us-gaap Lease Cost
LeaseCost
6777000 usd
us-gaap Lease Cost
LeaseCost
6457000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3652000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
3557000 usd
njr Current Charges Recoverable Through Bgss
CurrentChargesRecoverableThroughBgss
186400000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
533000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
404000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3577000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3947000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
287000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
407000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
17000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
825000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
165783000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
168520000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
29328000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
21913000 usd
CY2023Q1 njr Lease Rightof Use Asset
LeaseRightofUseAsset
195111000 usd
CY2022Q3 njr Lease Rightof Use Asset
LeaseRightofUseAsset
190433000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5308000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4562000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
8773000 usd
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
6538000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
136789000 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
138382000 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
26380000 usd
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
23752000 usd
CY2023Q1 njr Lease Liability
LeaseLiability
177250000 usd
CY2022Q3 njr Lease Liability
LeaseLiability
173234000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P29Y1M6D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P29Y2M12D
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.032
CY2022Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.032
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y
CY2023Q1 us-gaap Recorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
RecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
172673000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
263349000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
236524000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
183406000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
162271000 usd
CY2023Q1 njr Purchase Obligation To Be Paid After Year Four
PurchaseObligationToBePaidAfterYearFour
1098435000 usd
CY2023Q1 us-gaap Accrued Environmental Loss Contingencies Noncurrent
AccruedEnvironmentalLossContingenciesNoncurrent
124500000 usd
njr Site Contingency Recoveryfrom Third Partyof Environmental Remediation Cost Period
SiteContingencyRecoveryfromThirdPartyofEnvironmentalRemediationCostPeriod
P7Y
CY2023Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
644027000 usd
CY2022Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
912316000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1367594000 usd
us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1588158000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
38090000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31435000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
74773000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61828000 usd
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
2236000 usd
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
488000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
4195000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
989000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
30261000 usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
18926000 usd
us-gaap Interest Expense
InterestExpense
59752000 usd
us-gaap Interest Expense
InterestExpense
38403000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30586000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28810000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
63564000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
59617000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1131000 usd
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
769000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2077000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1344000 usd
CY2023Q1 njr Net Financial Earnings Loss
NetFinancialEarningsLoss
112310000 usd
CY2022Q1 njr Net Financial Earnings Loss
NetFinancialEarningsLoss
130206000 usd
njr Net Financial Earnings Loss
NetFinancialEarningsLoss
222594000 usd
njr Net Financial Earnings Loss
NetFinancialEarningsLoss
195976000 usd
CY2023Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
117188000 usd
CY2022Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
137012000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
263111000 usd
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
301310000 usd
CY2023Q1 njr Proceeds From Other Equity Investments
ProceedsFromOtherEquityInvestments
0 usd
CY2022Q1 njr Proceeds From Other Equity Investments
ProceedsFromOtherEquityInvestments
4000000 usd
njr Proceeds From Other Equity Investments
ProceedsFromOtherEquityInvestments
0 usd
njr Proceeds From Other Equity Investments
ProceedsFromOtherEquityInvestments
4000000 usd
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
17532000 usd
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
40169000 usd
CY2023Q1 us-gaap Assets
Assets
6296133000 usd
CY2022Q3 us-gaap Assets
Assets
6261416000 usd
CY2023Q1 njr Net Financial Earnings Loss
NetFinancialEarningsLoss
112310000 usd
CY2022Q1 njr Net Financial Earnings Loss
NetFinancialEarningsLoss
130206000 usd
njr Net Financial Earnings Loss
NetFinancialEarningsLoss
222594000 usd
njr Net Financial Earnings Loss
NetFinancialEarningsLoss
195976000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-13971000 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-42022000 usd
CY2023Q1 njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
-3320000 usd
CY2022Q1 njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
-9980000 usd
njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
4167000 usd
njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
9556000 usd
CY2023Q1 njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
11203000 usd
CY2022Q1 njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
-1155000 usd
njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
-12769000 usd
njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
-24732000 usd
CY2023Q1 njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
2662000 usd
CY2022Q1 njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
-274000 usd
njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
-3035000 usd
njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
-5877000 usd
CY2023Q1 njr Equity Method Investment Proceed Gain On Investment
EquityMethodInvestmentProceedGainOnInvestment
-200000 usd
CY2022Q1 njr Equity Method Investment Proceed Gain On Investment
EquityMethodInvestmentProceedGainOnInvestment
0 usd
njr Equity Method Investment Proceed Gain On Investment
EquityMethodInvestmentProceedGainOnInvestment
-200000 usd
njr Equity Method Investment Proceed Gain On Investment
EquityMethodInvestmentProceedGainOnInvestment
0 usd
CY2023Q1 njr Equity Method Investment Proceed On Investment Tax
EquityMethodInvestmentProceedOnInvestmentTax
50000 usd
CY2022Q1 njr Equity Method Investment Proceed On Investment Tax
EquityMethodInvestmentProceedOnInvestmentTax
0 usd
njr Equity Method Investment Proceed On Investment Tax
EquityMethodInvestmentProceedOnInvestmentTax
50000 usd
njr Equity Method Investment Proceed On Investment Tax
EquityMethodInvestmentProceedOnInvestmentTax
0 usd
CY2023Q1 njr Income Tax Expense Benefiton Financial Earnings Loss
IncomeTaxExpenseBenefitonFinancialEarningsLoss
103000 usd
CY2022Q1 njr Income Tax Expense Benefiton Financial Earnings Loss
IncomeTaxExpenseBenefitonFinancialEarningsLoss
1248000 usd
njr Income Tax Expense Benefiton Financial Earnings Loss
IncomeTaxExpenseBenefitonFinancialEarningsLoss
207000 usd
njr Income Tax Expense Benefiton Financial Earnings Loss
IncomeTaxExpenseBenefitonFinancialEarningsLoss
387000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
110247000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
96035000 usd
us-gaap Net Income Loss
NetIncomeLoss
226168000 usd
us-gaap Net Income Loss
NetIncomeLoss
207347000 usd
CY2023Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1770000 usd
CY2022Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1883000 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3597000 usd
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3729000 usd
CY2023Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
856000 usd
CY2022Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
851000 usd
njr Numberof Asset Management Agreement
NumberofAssetManagementAgreement
1 lease

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