2023 Q4 Form 10-K Financial Statement

#000035630923000083 Filed on November 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023
Revenue $321.2M $331.3M $1.112B
YoY Change -11.89% -56.72% -7.29%
Cost Of Revenue $177.5M $124.0M $978.9M
YoY Change -57.37% -76.51% -49.77%
Gross Profit $289.7M $207.3M $984.1M
YoY Change -5.69% -12.78% 2.83%
Gross Profit Margin 90.21% 62.57% 88.54%
Selling, General & Admin $21.93M $5.800M $75.70M
YoY Change 4.97% -4.42% -10.71%
% of Gross Profit 7.57% 2.8% 7.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.29M $39.20M $152.9M
YoY Change 9.82% 13.46% 18.33%
% of Gross Profit 13.9% 18.91% 15.54%
Operating Expenses $153.9M $143.0M $577.1M
YoY Change 14.49% -8.78% 4.82%
Operating Profit $135.8M $64.30M $407.0M
YoY Change -21.4% -20.53% 0.13%
Interest Expense $31.47M -$33.10M $123.0M
YoY Change 6.72% 27.23% 43.32%
% of Operating Profit 23.17% -51.48% 30.22%
Other Income/Expense, Net $6.341M $10.90M $26.08M
YoY Change 36.22% 11.86% 16.99%
Pretax Income $110.7M $42.10M $310.1M
YoY Change -25.19% -34.86% -9.59%
Income Tax $22.94M $6.200M $49.28M
% Of Pretax Income 20.72% 14.73% 15.89%
Net Earnings $89.41M $37.00M $264.7M
YoY Change -22.87% -32.14% -3.71%
Net Earnings / Revenue 27.84% 11.17% 23.82%
Basic Earnings Per Share $0.91 $2.73
Diluted Earnings Per Share $0.91 $0.38 $2.71
COMMON SHARES
Basic Shares Outstanding 97.71M shares 97.56M shares 97.03M shares
Diluted Shares Outstanding 98.56M shares 97.63M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.739M $1.000M $1.000M
YoY Change 13.79% -9.67% -9.67%
Cash & Equivalents $2.739M $954.0K $1.000M
Short-Term Investments
Other Short-Term Assets $23.86M $21.07M $203.0M
YoY Change -5.61% -5.38% -16.66%
Inventory $224.6M $226.5M $226.5M
Prepaid Expenses
Receivables $161.6M $86.50M $86.50M
Other Receivables $15.60M $15.10M $15.10M
Total Short-Term Assets $677.0M $532.1M $532.1M
YoY Change -33.1% -29.63% -29.62%
LONG-TERM ASSETS
Property, Plant & Equipment $5.272B $5.198B $5.198B
YoY Change 7.26% 7.87% 7.87%
Goodwill
YoY Change
Intangibles $77.00K
YoY Change -96.72%
Long-Term Investments $103.3M $104.1M $104.1M
YoY Change -2.74% -2.29% -2.32%
Other Assets $62.68M $61.58M $656.0M
YoY Change -8.73% -4.96% 22.13%
Total Long-Term Assets $6.072B $6.005B $6.005B
YoY Change 8.46% 9.08% 9.08%
TOTAL ASSETS
Total Short-Term Assets $677.0M $532.1M $532.1M
Total Long-Term Assets $6.072B $6.005B $6.005B
Total Assets $6.749B $6.537B $6.538B
YoY Change 2.1% 4.41% 4.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $105.6M $151.8M $203.9M
YoY Change -4.39% -3.06% -48.05%
Accrued Expenses $4.798M $4.800M $4.800M
YoY Change 2.94% 5.22% 5.22%
Deferred Revenue $118.5M $61.40M
YoY Change 199.65% 72.74%
Short-Term Debt $268.7M $252.1M $252.1M
YoY Change -42.16% -40.54% -40.54%
Long-Term Debt Due $219.6M $116.2M $116.2M
YoY Change 174.14% 54.79% 54.79%
Total Short-Term Liabilities $962.0M $806.6M $806.6M
YoY Change -9.77% -26.95% -26.95%
LONG-TERM LIABILITIES
Long-Term Debt $2.739B $2.768B $2.768B
YoY Change 1.79% 11.37% 11.37%
Other Long-Term Liabilities $13.18M $13.26M $684.3M
YoY Change 16.5% 45.88% 11.63%
Total Long-Term Liabilities $981.8M $972.1M $3.452B
YoY Change 5.55% 13.75% 11.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $962.0M $806.6M $806.6M
Total Long-Term Liabilities $981.8M $972.1M $3.452B
Total Liabilities $1.944B $1.779B $4.547B
YoY Change -2.63% -9.19% 2.31%
SHAREHOLDERS EQUITY
Retained Earnings $1.226B $1.178B
YoY Change 7.01% 10.33%
Common Stock $827.6M $802.1M
YoY Change 7.52% 5.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.066B $1.991B $1.991B
YoY Change
Total Liabilities & Shareholders Equity $6.749B $6.537B $6.538B
YoY Change 2.1% 4.41% 4.41%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023
OPERATING ACTIVITIES
Net Income $89.41M $37.00M $264.7M
YoY Change -22.87% -32.14% -3.71%
Depreciation, Depletion And Amortization $40.29M $39.20M $152.9M
YoY Change 9.82% 13.46% 18.33%
Cash From Operating Activities $46.42M $91.10M $479.0M
YoY Change -152.18% 3.99% 48.07%
INVESTING ACTIVITIES
Capital Expenditures $105.6M $148.9M $500.4M
YoY Change -23.77% -202.05% -189.5%
Acquisitions
YoY Change
Other Investing Activities -$8.147M -$11.60M -$38.30M
YoY Change 16.92% 18.78% 21.67%
Cash From Investing Activities -$113.8M -$160.4M -$538.6M
YoY Change -21.83% 3.04% -8.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $69.29M 69.90M $59.70M
YoY Change -70.63% 68.34% -77.26%
NET CHANGE
Cash From Operating Activities $46.42M 91.10M $479.0M
Cash From Investing Activities -$113.8M -160.4M -$538.6M
Cash From Financing Activities $69.29M 69.90M $59.70M
Net Change In Cash $1.912M 600.0K $65.00K
YoY Change 35.03% -102.26% -101.42%
FREE CASH FLOW
Cash From Operating Activities $46.42M $91.10M $479.0M
Capital Expenditures $105.6M $148.9M $500.4M
Free Cash Flow -$59.23M -$57.80M -$21.41M
YoY Change -73.97% -124.75% -102.43%

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33802000 usd
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206053000 usd
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28383000 usd
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CY2023Q3 us-gaap Assets
Assets
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CY2022Q3 us-gaap Assets
Assets
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31090000 usd
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CommissionsPayableToBrokerDealersAndClearingOrganizations
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CY2022Q3 us-gaap Asset Retirement Obligations Noncurrent
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CY2023Q3 us-gaap Liabilities Noncurrent
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CY2023Q3 us-gaap Commitments And Contingencies
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CY2022Q3 us-gaap Commitments And Contingencies
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CY2021 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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26526000 usd
CY2021Q3 njr Number Of Megawatts
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CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2022 us-gaap Net Income Loss
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29702000 usd
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2022 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2022 us-gaap Common Stock Dividends Per Share Declared
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StockholdersEquityTreasuryStockActivityAndOther
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2023 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5168000 usd
CY2023 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
15034000 usd
CY2023 njr Stock Issued During Period Value Dividend Reinvestment Plan Waiver Discount
StockIssuedDuringPeriodValueDividendReinvestmentPlanWaiverDiscount
42807000 usd
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.59
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
154418000 usd
CY2023 njr Stockholders Equity Treasury Stock Activity And Other
StockholdersEquityTreasuryStockActivityAndOther
-5343000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
1990735000 usd
CY2023 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:115%">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:22.5pt"><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 576,000 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:115%">NJRCEV, the Company’s clean energy subsidiary, comprises the CEV segment and invests in, owns and operates clean energy projects, including commercial and residential solar installations located in New Jersey, Rhode Island, New York, Connecticut, Michigan and Indiana.</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 ES segment. ES 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:120%">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 and is subject to rate regulation by FERC. The Company holds a 50% combined ownership interest in Steckman Ridge, located in Pennsylvania, which is accounted for under the equity method of accounting, and 20% 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 HSO operations.</span></div>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify;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, lease liabilities, 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. ARO 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>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.
CY2023 njr Demand Fees
DemandFees
258000000.0 usd
CY2022 njr Demand Fees
DemandFees
265700000 usd
CY2021 njr Demand Fees
DemandFees
243700000 usd
CY2023 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService
0.0268
CY2022 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService
0.0266
CY2021 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
PublicUtilitiesPropertyPlantAndEquipmentDisclosureOfCompositeDepreciationRateForPlantsInService
0.0242
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
152900000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
129200000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
111400000 usd
CY2023Q3 njr Public Utilities And Other Property Plantand Equipment Gross
PublicUtilitiesAndOtherPropertyPlantandEquipmentGross
5990539000 usd
CY2022Q3 njr Public Utilities And Other Property Plantand Equipment Gross
PublicUtilitiesAndOtherPropertyPlantandEquipmentGross
5515716000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
968484000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
865790000 usd
CY2023Q3 njr Public Utilities And Other Property Plantand Equipment Net
PublicUtilitiesAndOtherPropertyPlantandEquipmentNet
5022055000 usd
CY2022Q3 njr Public Utilities And Other Property Plantand Equipment Net
PublicUtilitiesAndOtherPropertyPlantandEquipmentNet
4649926000 usd
CY2023 njr Sbc Interest Rate
SBCInterestRate
0.0479
CY2022 njr Sbc Interest Rate
SBCInterestRate
0.0385
CY2021 njr Sbc Interest Rate
SBCInterestRate
0.0168
CY2023 njr Deferred Interest
DeferredInterest
1800000 usd
CY2022 njr Deferred Interest
DeferredInterest
900000 usd
CY2021 njr Deferred Interest
DeferredInterest
300000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
954000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1107000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4749000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
563000 usd
CY2022Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
345000 usd
CY2021Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1294000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1517000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1452000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6043000 usd
CY2023Q3 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
39000000 usd
CY2022Q3 us-gaap Notes And Loans Receivable Gross Noncurrent
NotesAndLoansReceivableGrossNoncurrent
34700000 usd
CY2023Q3 us-gaap Energy Related Inventory Natural Gas In Storage
EnergyRelatedInventoryNaturalGasInStorage
199501000 usd
CY2023Q3 njr Energy Related Inventory Natural Gasin Storage Bcf
EnergyRelatedInventoryNaturalGasinStorageBCF
43700000 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
CY2023 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
200000 usd
CY2022 us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
200000 usd
CY2023Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
8375000 usd
CY2022Q3 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
6120000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
500000 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
500000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
100000 usd
CY2023 njr Future Accretion Year Four
FutureAccretionYearFour
3597000 usd
CY2023 njr Future Accretion Year Five
FutureAccretionYearFive
3781000 usd
CY2023 njr Future Accretion
FutureAccretion
17189000 usd
CY2023 njr Defined Benefit Plan Numberof Plans
DefinedBenefitPlanNumberofPlans
2 plan
CY2023 njr Defined Benefit Plan Numberof Medicaland Life Insurance Plans
DefinedBenefitPlanNumberofMedicalandLifeInsurancePlans
2 plan
CY2023 njr Future Accretion Year One
FutureAccretionYearOne
3114000 usd
CY2023 njr Future Accretion Year Two
FutureAccretionYearTwo
3268000 usd
CY2023 njr Future Accretion Year Three
FutureAccretionYearThree
3429000 usd
CY2023 us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
OtherComprehensiveIncomeLossBeforeReclassificationsTax
-1922000 usd
CY2023 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-6350000 usd
CY2023 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
366000 usd
CY2023 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-1217000 usd
CY2023 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-1556000 usd
CY2023 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-5133000 usd
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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%">Reclassification</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%">Certain prior period amounts have been reclassified to conform to the current period presentation. Deferred income taxes and postemployment employee benefit assets previously classified within other noncurrent assets on the Consolidated Balance Sheets have been reclassified to their own category.</span></div>
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1111520000 usd
CY2023 njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
27257000 usd
CY2023 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
834387000 usd
CY2023 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
851474000 usd
CY2023 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1962994000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1198985000 usd
CY2022 njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
11259000 usd
CY2022 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1695829000 usd
CY2022 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1706994000 usd
CY2022 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
2905979000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
852105000 usd
CY2021 njr Alternative Revenue Programs Revenue
AlternativeRevenueProgramsRevenue
-7282000 usd
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1311364000 usd
CY2021 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1304508000 usd
CY2021 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
2156613000 usd
CY2023 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
851474000 usd
CY2023 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
1962994000 usd
CY2022 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1706994000 usd
CY2022 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
2905979000 usd
CY2021 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
1304508000 usd
CY2021 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
2156613000 usd
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
32586000 usd
CY2022 njr Contractwith Customer Increase Decreasefor Contract Liability
ContractwithCustomerIncreaseDecreaseforContractLiability
660000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
33246000 usd
CY2023 njr Contractwith Customer Increase Decreasefor Contract Liability
ContractwithCustomerIncreaseDecreaseforContractLiability
11664000 usd
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
44910000 usd
CY2023Q3 njr Contractwith Customer Assets Liabilities Net
ContractwithCustomerAssetsLiabilitiesNet
71730000 usd
CY2022Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
222297000 usd
CY2022Q3 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
13769000 usd
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
33246000 usd
CY2022Q3 njr Contractwith Customer Assets Liabilities Net
ContractwithCustomerAssetsLiabilitiesNet
202820000 usd
CY2023 njr Public Utilities Numberof Interim Filings During Each Fiscal Year
PublicUtilitiesNumberofInterimFilingsDuringEachFiscalYear
2 filing
CY2023 njr Public Utilities Numberof Days Noticefor Refund
PublicUtilitiesNumberofDaysNoticeforRefund
P5D
CY2023 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
164500000 usd
CY2023Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
100000 usd
CY2022Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
200000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
31400000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
30300000 usd
CY2021Q2 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
92000000 usd
CY2021Q2 njr Equity Method Investment Other Than Temporary Impairment Net Of Tax
EquityMethodInvestmentOtherThanTemporaryImpairmentNetOfTax
74500000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
264724000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
274922000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
117890000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97028000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96100000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96227000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.73
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.86
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.23
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97028000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96100000 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96227000 shares
CY2023 njr Incremental Common Shares Attributable To Other Dilutive Effect
IncrementalCommonSharesAttributableToOtherDilutiveEffect
599000 shares
CY2022 njr Incremental Common Shares Attributable To Other Dilutive Effect
IncrementalCommonSharesAttributableToOtherDilutiveEffect
388000 shares
CY2021 njr Incremental Common Shares Attributable To Other Dilutive Effect
IncrementalCommonSharesAttributableToOtherDilutiveEffect
333000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97627000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96488000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96560000 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.71
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.85
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2768017000 usd
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2485402000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2774527 shares
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14716000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14827000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7149000 usd
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3563000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3624000 usd
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1613000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
11153000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
11203000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5536000 usd
CY2023 njr Share Based Payment Arrangement Delivered Shares Expense Tax Benefit
ShareBasedPaymentArrangementDeliveredSharesExpenseTaxBenefit
600000 usd
CY2022 njr Share Based Payment Arrangement Delivered Shares Expense Tax Benefit
ShareBasedPaymentArrangementDeliveredSharesExpenseTaxBenefit
100000 usd
CY2021 njr Share Based Payment Arrangement Delivered Shares Expense Tax Benefit
ShareBasedPaymentArrangementDeliveredSharesExpenseTaxBenefit
200000 usd
CY2023Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
552896000 usd
CY2022Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
516853000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
257044000 usd
CY2022Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
236000000 usd
CY2023 njr Defined Benefit Plan Numberof Plans
DefinedBenefitPlanNumberofPlans
2 plan
CY2023 njr Defined Benefit Plan Required Lengthof Service
DefinedBenefitPlanRequiredLengthofService
P1Y
CY2023 njr Defined Benefit Plan Benefits Basis Period
DefinedBenefitPlanBenefitsBasisPeriod
P60M
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
22241000 usd
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
295852000 usd
CY2022Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
280853000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
487294000 usd
CY2022Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
468115000 usd
CY2023Q3 njr Deferred Tax Liabilities Remediation Costs
DeferredTaxLiabilitiesRemediationCosts
18532000 usd
CY2022Q3 njr Deferred Tax Liabilities Remediation Costs
DeferredTaxLiabilitiesRemediationCosts
18490000 usd
CY2023Q3 us-gaap Defined Benefit Plan Plan Assets Target Allocation Percentage
DefinedBenefitPlanPlanAssetsTargetAllocationPercentage
1
CY2023Q3 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1
CY2022Q3 us-gaap Defined Benefit Plan Weighted Average Asset Allocations
DefinedBenefitPlanWeightedAverageAssetAllocations
1
CY2023 njr Defined Contribution Plan Company Match Of Employee Contribution
DefinedContributionPlanCompanyMatchOfEmployeeContribution
0.85
CY2023 njr Defined Contribution Plan Maximum Employer Contribution By Percentage Of Employee Salary
DefinedContributionPlanMaximumEmployerContributionByPercentageOfEmployeeSalary
0.06
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
5900000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
5500000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
5100000 usd
CY2023 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
2100000 usd
CY2022 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
2400000 usd
CY2021 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
2100000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
28325000 usd
CY2022Q3 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
19176000 usd
CY2023Q3 njr Deferred Tax Liabilities Conservation Incentive Plan
DeferredTaxLiabilitiesConservationIncentivePlan
14075000 usd
CY2022Q3 njr Deferred Tax Liabilities Conservation Incentive Plan
DeferredTaxLiabilitiesConservationIncentivePlan
6457000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
4670000 usd
CY2022Q3 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
4615000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
13393000 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4238000 usd
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
651000 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7716000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2104000 usd
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1703000 usd
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q3 us-gaap Finance Lease Liability Payments Due
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CY2023Q3 us-gaap Purchase Obligation Due In Fifth Year
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CY2023Q3 us-gaap Purchase Obligation Due After Fifth Year
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CY2022 us-gaap Investment Income Interest
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CY2022 us-gaap Interest Expense
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CY2022 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Income Loss From Equity Method Investments
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CY2022 njr Net Financial Earnings Loss
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CY2022 us-gaap Segment Expenditure Addition To Long Lived Assets
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CY2022 njr Proceeds From Other Equity Investments
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CY2021 us-gaap Regulated And Unregulated Operating Revenue
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CY2021 us-gaap Investment Income Interest
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CY2021 us-gaap Interest Expense
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Payments To Acquire Equity Method Investments
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CY2023Q3 us-gaap Assets
Assets
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CY2022Q3 us-gaap Assets
Assets
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CY2021Q3 us-gaap Assets
Assets
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CY2023 njr Net Financial Earnings Loss
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CY2022 njr Net Financial Earnings Loss
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CY2021 njr Net Financial Earnings Loss
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CY2023 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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CY2022 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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CY2021 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
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CY2023 njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
9050000 usd
CY2022 njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
14248000 usd
CY2021 njr Unrealized Gain Losson Derivativesand Commodity Contracts Tax
UnrealizedGainLossonDerivativesandCommodityContractsTax
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CY2023 njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
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CY2022 njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
-19939000 usd
CY2021 njr Increase Decreasein Economic Hedging Relatedto Natural Gas Inventory Before Taxes
IncreaseDecreaseinEconomicHedgingRelatedtoNaturalGasInventoryBeforeTaxes
42405000 usd
CY2023 njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
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CY2022 njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
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CY2021 njr Effectsof Economic Hedging Relatedto Natural Gas Inventory Tax
EffectsofEconomicHedgingRelatedtoNaturalGasInventoryTax
10078000 usd
CY2023 njr Equity Method Investment Proceed Impairment On Investment
EquityMethodInvestmentProceedImpairmentOnInvestment
-300000 usd
CY2022 njr Equity Method Investment Proceed Impairment On Investment
EquityMethodInvestmentProceedImpairmentOnInvestment
-5521000 usd
CY2021 njr Equity Method Investment Proceed Impairment On Investment
EquityMethodInvestmentProceedImpairmentOnInvestment
92000000 usd
CY2023 njr Equity Method Investment Proceed Impairment On Investment Tax
EquityMethodInvestmentProceedImpairmentOnInvestmentTax
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EquityMethodInvestmentProceedImpairmentOnInvestmentTax
1377000 usd
CY2021 njr Equity Method Investment Proceed Impairment On Investment Tax
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-11167000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
264724000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
274922000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
117890000 usd
CY2023 njr Numberof Asset Management Agreement
NumberofAssetManagementAgreement
1 lease
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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