v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Sep. 30, 2025
PROPERTY, PLANT AND EQUIPMENT    
Utility plant, at cost $ 4,576,735 $ 4,434,220
Construction work in progress 449,255 395,943
Nonutility plant and equipment, at cost 1,998,803 1,972,811
Construction work in progress 278,050 151,404
Total property, plant and equipment 7,302,843 6,954,378
Accumulated depreciation and amortization, utility plant (900,176) (850,757)
Accumulated depreciation and amortization, nonutility plant and equipment (318,586) (293,522)
Property, plant and equipment, net 6,084,081 5,810,099
CURRENT ASSETS    
Cash and cash equivalents 125,284 591
Customer accounts receivable    
Billed 291,052 109,366
Unbilled revenues 79,011 24,194
Allowance for doubtful accounts (12,474) (11,371)
Regulatory assets 31,954 48,898
Natural gas in storage, at average cost 60,534 215,836
Materials and supplies, at average cost 45,283 43,420
Prepaid expenses 19,451 10,848
Prepaid taxes 26,498 67,143
Derivatives, at fair value 9,530 12,514
Restricted broker margin accounts 8,811 8,920
Other current assets 45,350 39,517
Total current assets 730,284 569,876
NONCURRENT ASSETS    
Investments in equity method investees 102,778 101,243
Regulatory assets 619,754 672,518
Operating lease assets 188,223 185,596
Derivatives, at fair value 1,721 2,319
Software costs 11,195 11,151
Deferred income taxes 20,860 20,821
Postemployment employee benefit assets 43,037 40,813
Notes receivable 42,500 42,500
Other noncurrent assets 98,822 121,839
Total noncurrent assets 1,128,890 1,198,800
Total assets 7,943,255 7,578,775
CAPITALIZATION    
Common stock, $2.50 par value; authorized 150,000,000 shares; outstanding shares March 31, 2026 — 100,861,916; September 30, 2025 — 100,478,590 251,667 250,705
Premium on common stock 693,465 676,635
Accumulated other comprehensive loss, net of tax (10,947) (11,463)
Treasury stock at cost and other; shares March 31, 2026 — 18,922; September 30, 2025 — 17,273 17,366 24,422
Retained earnings 1,697,006 1,451,367
Common stock equity 2,648,557 2,391,666
Long-term debt 3,281,739 3,250,387
Total capitalization 5,930,296 5,642,053
CURRENT LIABILITIES    
Current maturities of long-term debt 164,595 158,192
Short-term debt 150,000 195,600
Natural gas purchases payable 75,807 62,593
Natural gas purchases payable to related parties 641 641
Deferred revenue 21,138 22,605
Accounts payable and other 169,989 204,478
Dividends payable 47,908 47,719
Accrued taxes 30,328 11,722
Regulatory liabilities 72,350 12,884
New Jersey Clean Energy Program 6,930 17,171
Derivatives, at fair value 8,117 7,620
Operating lease liabilities 5,168 4,388
Restricted broker margin accounts 1,111 3,949
Customers' credit balances and deposits 22,944 31,297
Total current liabilities 777,026 780,859
NONCURRENT LIABILITIES    
Deferred income taxes 490,779 438,411
Deferred investment tax credits 1,739 1,878
Deferred revenue 41,980 17,580
Derivatives, at fair value 5,267 4,283
Manufactured gas plant remediation 166,110 166,990
Postemployment employee benefit liability 110,023 108,830
Regulatory liabilities 168,990 171,177
Operating lease liabilities 163,048 159,131
Asset retirement obligations 77,541 76,507
Other noncurrent liabilities 10,456 11,076
Total noncurrent liabilities 1,235,933 1,155,863
Commitments and contingent liabilities (Note 13)
Total capitalization and liabilities 7,943,255 7,578,775
Related Party    
CURRENT LIABILITIES    
Natural gas purchases payable to related parties $ 641 $ 641