NEW JERSEY RESOURCES CORPORATION NJR Income Statement

New jersey resources corporation (NJR)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Jun'09
OPERATING REVENUES
Utility
297,220	219,623	88,626	120,782	301,420	199,965	100,476	104,538	317,064	209,787	93,173	121,362	295,546	185,556	80,998	119,206	242,536	151,606	82,233	116,307	374,703	208,727	80,035	111,383	394,528	233,469	98,366	119,022	351,750	218,849	103,552	106,764	226,023	191,374	109,651	138,149	433,248	290,676	143,122	105,130	430,706	258,475	148,826
Nonutility
342,394	395,413	390,455	314,160	564,835	611,802	546,850	438,897	701,979	495,518	443,347	336,161	438,000	355,472	388,243	274,007	331,657	292,652	356,073	342,160	638,387	615,397	511,879	576,874	1,185,041	644,936	635,329	648,447	609,135	517,170	464,918	318,357	386,898	451,037	561,250	510,020	543,739	422,476	488,396	374,764	487,640	351,071	292,226
Total operating revenues
639,614	615,036	479,081	434,942	866,255	811,767	647,326	543,435	1,019,043	705,305	536,520	457,523	733,546	541,028	469,241	393,213	574,193	444,258	438,306	458,467	1,013,090	824,124	591,914	688,257	1,579,569	878,405	733,695	767,469	960,885	736,019	568,470	425,121	612,921	642,411	670,901	648,169	976,987	713,152	631,518	479,894	918,346	609,546	441,052
OPERATING EXPENSES
Gas purchases:
Gas purchases - Related parties
1,506	1,524	1,493	2,126	2,144	2,185	2,113	2,156	2,087	2,149	2,081	2,076	2,072	2,111	2,092	2,108	2,077	2,074	3,361	3,102	3,124	3,264	3,123	3,158	3,039	3,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operation and maintenance
66,832	63,345	65,026	62,559	66,023	63,343	83,660	68,496	56,797	54,160	61,993	55,613	52,342	52,228	57,596	51,467	53,125	46,233	63,318	48,598	52,778	44,759	65,889	45,995	61,273	42,023	46,706	43,630	43,067	40,070	52,058	40,857	39,185	38,945	48,988	38,811	37,896	37,416	38,179	37,077	37,018	36,291	38,436
Regulatory rider expenses
15,330	11,742	1,778	4,136	15,391	12,632	2,054	5,542	19,604	11,769	2,533	5,216	19,893	12,601	2,097	6,360	21,215	9,628	3,108	8,516	42,692	21,463	4,784	9,337	38,211	19,832	4,403	6,258	23,774	13,982	3,529	5,835	18,443	12,543	3,726	6,518	24,304	16,698	4,949	6,160	21,184	13,673	6,280
Depreciation and amortization
30,784	27,758	24,438	23,149	22,311	21,832	21,067	20,320	22,460	21,854	21,493	20,760	20,328	19,260	19,851	18,671	17,744	16,482	16,235	15,574	15,204	14,386	13,728	13,620	12,828	12,566	12,344	11,942	11,721	11,303	10,917	10,687	10,439	9,600	8,925	8,514	8,477	8,454	8,331	8,136	7,931	7,869	7,880
Total operating expenses
544,399	513,539	486,871	438,961	789,254	723,024	665,669	580,150	840,299	629,109	564,391	439,556	593,893	499,553	426,761	421,542	480,260	384,807	432,049	467,776	930,284	655,427	620,752	717,465	1,332,557	866,181	765,624	720,469	903,916	648,828	582,776	445,032	545,232	567,193	688,547	620,987	883,785	672,889	632,004	498,680	796,334	524,161	464,822
Energy and other taxes
-	-	-	2,373	-	-	6,247	7,822	21,542	16,491	6,984	8,796	19,485	14,101	6,010	8,726	15,842	9,637	5,988	8,319	24,632	14,321	6,450	9,437	24,429	17,028	6,545	9,397	24,747	16,725	6,585	8,335	16,809	14,058	6,772	10,024	29,489	20,625	6,548	6,516	26,824	16,935	11,739
OPERATING INCOME
95,215	101,497	-7,790	-4,019	77,001	88,743	-18,343	-36,715	178,744	76,196	-27,871	17,967	139,653	41,475	42,480	-28,329	93,933	59,451	6,257	-9,309	82,806	168,697	-28,838	-29,208	247,012	12,224	-31,929	47,000	56,969	87,191	-14,306	-19,911	67,689	75,218	-17,646	27,182	93,202	40,263	-486	-18,786	122,012	85,385	-23,770
Other income, net
7,261	286	5,817	1,829	2,758	869	4,312	1,731	1,028	5,976	-2,130	3,273	5,338	3,776	2,764	2,306	2,202	1,924	4,027	1,491	1,137	-110	-5,240	10,952	712	1,127	499	1,238	2,781	265	701	551	349	527	1,321	1,176	805	445	1,800	1,311	1,028	1,119	1,179
Interest expense, net of capitalized interest
19,203	16,070	9,439	11,648	12,509	13,486	11,546	11,037	11,798	11,905	11,671	11,164	11,436	10,615	9,111	7,787	7,369	6,777	6,716	7,327	6,483	7,195	6,355	6,507	6,306	6,295	6,400	6,008	5,746	5,825	5,578	4,834	5,427	5,005	4,538	4,744	5,078	5,263	5,305	5,238	5,291	5,417	5,187
INCOME BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF AFFILIATES
83,273	85,713	-11,412	-13,838	67,250	76,126	-25,577	-46,021	167,974	70,267	-41,672	10,076	133,555	34,636	36,133	-33,810	88,766	54,598	3,568	-15,145	77,460	161,392	-40,433	-24,763	241,418	7,056	-37,830	42,230	54,004	81,631	-19,183	-24,194	62,611	70,740	-20,863	23,614	88,929	35,445	-3,991	-22,713	117,749	81,087	-27,778
Income tax benefit
-1,643	-259	-25,897	-1,941	-2,952	-6,961	-5,984	-28,534	30,901	-50,168	-1,791	-5,816	23,932	2,018	13,183	-14,190	17,815	6,722	3,031	-4,318	20,144	40,867	-13,537	-7,808	71,680	1,505	-15,767	15,297	12,065	23,980	-8,172	-11,230	11,094	16,037	-10,997	6,197	28,612	13,853	-3,374	-10,555	46,485	32,136	-12,146
Equity in earnings of affiliates
3,589	3,389	3,601	3,495	3,371	3,161	3,338	3,213	3,193	3,264	3,358	3,065	5,079	2,311	2,450	2,257	2,402	2,406	3,660	3,367	3,587	2,795	2,476	2,681	3,233	2,142	2,042	2,222	3,530	2,555	2,318	2,644	3,018	2,654	2,355	2,957	3,610	2,917	2,132	1,981	2,953	2,951	1,477
NET INCOME
88,505	89,361	18,086	-8,402	73,573	86,248	-16,255	-14,274	140,266	123,699	-36,523	18,957	114,702	34,929	25,400	-17,363	73,353	50,282	4,197	-7,460	60,903	123,320	-24,420	-14,274	172,971	7,693	-20,021	29,155	45,469	60,206	-8,693	-10,320	54,535	57,357	-7,511	20,374	63,927	24,509	1,515	-10,177	74,217	51,902	-14,155
EARNINGS PER COMMON SHARE
Basic (usd per share)
0.93	0.97	0.19	-0.09	0.83	0.97	-0.20	-0.16	1.60	1.42	-0.43	0.22	1.33	0.41	0.29	-0.20	0.85	0.59	0.04	-0.09	0.71	1.46	-0.38	-0.17	2.06	0.18	-1.85	0.70	1.09	1.44	-0.20	-0.25	1.31	1.38	-0.18	0.49	1.55	0.59	0.05	-0.25	1.79	1.25	-0.34
Diluted (usd per share)
0.92	0.97	0.19	-0.09	0.82	0.97	-0.21	-0.16	1.59	1.42	-0.42	0.22	1.32	0.40	0.30	-0.20	0.84	0.58	0.04	-0.09	0.71	1.44	-0.38	-0.17	2.04	0.18	-1.85	0.70	1.08	1.44	-0.21	-0.25	1.31	1.38	-0.18	0.49	1.54	0.59	0.05	-0.25	1.78	1.24	-0.34
DIVIDENDS DECLARED PER COMMON SHARE (usd per share)
-	-	-	-	-	-	-	-	-	-	-	0.25	0.25	0.25	-	0.24	0.24	0.24	0.23	0.23	0.23	0.22	0.01	0.21	0.21	0.42	-0.39	0.40	0.40	0.40	0.40	0.38	0.38	0.38	0.36	0.36	0.36	0.36	0.34	0.34	0.34	0.34	0.31
WEIGHTED AVERAGE SHARES OUTSTANDING
Basic (in shares)
95,584	91,911	89,985	89,600	88,836	88,547	88,277	87,888	87,595	86,996	86,517	86,408	86,275	86,084	86,067	85,960	85,834	85,675	85,415	85,449	85,328	84,552	126,379	84,234	84,158	42,021	208,172	41,608	41,789	41,695	41,605	41,560	41,509	41,434	41,423	41,381	41,352	41,280	41,184	41,239	41,418	41,615	42,049
Diluted (in shares)
95,890	92,320	90,690	89,600	89,228	88,946	90,036	87,888	87,989	87,347	87,353	87,267	87,101	86,855	87,430	85,960	86,858	86,676	87,667	85,449	86,370	85,574	128,301	84,234	84,914	42,239	209,050	41,732	41,972	41,758	41,606	41,560	41,711	41,651	41,612	41,597	41,553	41,510	41,554	41,239	41,726	42,001	42,049
Regulated
Gas purchases - Utility and Nonutility
111,563	91,814	39,629	54,861	138,117	87,649	48,737	53,080	96,586	77,602	37,798	47,124	112,445	61,320	30,295	45,700	82,374	46,665	49,847	41,562	129,281	84,263	26,085	37,875	146,449	109,488	44,238	55,708	189,040	111,321	53,011	45,916	78,301	85,630	64,528	74,385	235,001	160,449	97,501	47,665	276,104	154,950	87,169
Unregulated
Gas purchases - Utility and Nonutility
318,384	317,356	345,690	289,757	545,268	535,383	501,791	422,734	621,223	445,084	431,509	299,971	367,328	337,932	308,820	288,510	287,883	254,088	290,192	342,105	662,573	472,971	500,693	598,043	1,046,328	661,944	639,446	593,534	611,567	455,427	444,522	333,402	382,055	406,417	555,608	482,735	548,618	429,247	476,496	393,126	427,273	294,443	313,318