v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Sep. 30, 2025
PROPERTY, PLANT AND EQUIPMENT    
Utility plant, at cost $ 4,767,029 $ 4,434,220
Construction work in progress 378,763 395,943
Nonutility plant and equipment, at cost 2,123,940 1,972,811
Construction work in progress 216,606 151,404
Total property, plant and equipment 7,486,338 6,954,378
Accumulated depreciation and amortization, utility plant (919,587) (850,757)
Accumulated depreciation and amortization, nonutility plant and equipment (331,544) (293,522)
Property, plant and equipment, net 6,235,207 5,810,099
CURRENT ASSETS    
Cash and cash equivalents 33,955 591
Customer accounts receivable    
Billed 190,779 109,366
Unbilled revenues 27,689 24,194
Allowance for doubtful accounts (16,503) (11,371)
Regulatory assets 32,229 48,898
Natural gas in storage, at average cost 152,941 215,836
Materials and supplies, at average cost 47,302 43,420
Prepaid expenses 16,263 10,848
Prepaid taxes 75,334 67,143
Derivatives, at fair value 6,697 12,514
Restricted broker margin accounts 8,918 8,920
Other current assets 43,762 39,517
Total current assets 619,366 569,876
NONCURRENT ASSETS    
Investments in equity method investees 101,381 101,243
Regulatory assets 650,105 672,518
Operating lease assets 198,383 185,596
Derivatives, at fair value 1,908 2,319
Deferred income taxes 21,292 20,821
Postemployment employee benefit assets 44,150 40,813
Notes receivable 42,500 42,500
Other noncurrent assets 99,129 121,839
Total noncurrent assets 1,169,885 1,198,800
Total assets 8,024,458 7,578,775
CAPITALIZATION    
Common stock, $2.50 par value; authorized 150,000,000 shares; outstanding shares June 30, 2026 — 101,410,957; September 30, 2025 — 100,478,590 253,039 250,705
Premium on common stock 722,614 676,635
Accumulated other comprehensive loss, net of tax (10,690) (11,463)
Treasury stock at cost and other; shares June 30, 2026 — 18,922; September 30, 2025 — 17,273 19,867 24,422
Retained earnings 1,658,630 1,451,367
Common stock equity 2,643,460 2,391,666
Long-term debt 3,200,089 3,250,387
Total capitalization 5,843,549 5,642,053
CURRENT LIABILITIES    
Current maturities of long-term debt 282,881 158,192
Short-term debt 220,000 195,600
Natural gas purchases payable 69,280 62,593
Natural gas purchases payable to related parties 640 641
Deferred revenue 20,101 22,605
Accounts payable and other 166,676 204,478
Dividends payable 48,065 47,719
Accrued taxes 15,921 11,722
Regulatory liabilities 70,082 12,884
New Jersey Clean Energy Program 14,588 17,171
Derivatives, at fair value 6,084 7,620
Operating lease liabilities 5,534 4,388
Restricted broker margin accounts 653 3,949
Customers' credit balances and deposits 16,207 31,297
Total current liabilities 936,712 780,859
NONCURRENT LIABILITIES    
Deferred income taxes 496,791 438,411
Deferred investment tax credits 1,669 1,878
Deferred revenue 37,023 17,580
Derivatives, at fair value 4,397 4,283
Manufactured gas plant remediation 165,170 166,990
Postemployment employee benefit liability 110,803 108,830
Regulatory liabilities 167,403 171,177
Operating lease liabilities 171,504 159,131
Asset retirement obligations 78,503 76,507
Other noncurrent liabilities 10,934 11,076
Total noncurrent liabilities 1,244,197 1,155,863
Commitments and contingent liabilities (Note 13)
Total capitalization and liabilities 8,024,458 7,578,775
Software, In-Development, Internally Developed, and Purchased    
NONCURRENT ASSETS    
Software costs 11,037 11,151
Related Party    
CURRENT LIABILITIES    
Natural gas purchases payable to related parties $ 640 $ 641