Item 1. Business
General
The registrant, South Jersey Industries, Inc. (the Company), a New Jersey corporation, was formed in 1969 for the purpose of owning and holding all of the outstanding common stock of South Jersey Gas Company (South Jersey Gas or SJG), a public utility, and acquiring and developing nonutility lines of business. Energy & Minerals, Inc. (EMI), a wholly-owned subsidiary of the Company, was formed in 1977 to own, finance and further develop certain nonutility businesses. Through a subsidiary, EMI is engaged in the mining, processing and marketing of construction, commercial, industrial and other specialty sands and gravels. South Jersey Energy Company (SJE), a wholly-owned subsidiary of the Company, provides services for the acquisition and transportation of natural gas for commercial and industrial users. R&T Group, Inc. (R&T), a wholly-owned subsidiary of the Company, was formed in 1989 to own, finance and further develop certain utility construction, general construction and environmental remediation businesses. R&T engages in these businesses through several operating subsidiaries.
Financial Information About Industry Segments
Information regarding Industry Segments is incorporated by reference to Note 2 on page 16 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Description of Business
The Company is engaged in the business of operating, through subsidiaries, various business enterprises. The Company's most significant subsidiary is SJG.
SJG, a New Jersey corporation, is an operating public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use in an area of approximately 2,500 square miles in the southern part of New Jersey. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas purchased directly from producers or suppliers by some of its customers.
SJG's service territory includes 112 municipalities throughout Atlantic, Cape May, Cumberland and Salem Counties and portions of Burlington, Camden and Gloucester Counties, with an estimated permanent population of 1,007,000.
SJG serves 241,406 residential, commercial and industrial customers (at December 31, 1994) in southern New Jersey. Gas sales and transportation for 1994 amounted to 74,042,000 Mcf (thousand cubic feet), of which 49,968,000 Mcf was firm sales and transportation, 7,234,000 Mcf was interruptible sales and transportation and 16,840,000 Mcf was off system sales. The breakdown of firm sales includes 39.1% residential, 18.6% commercial, 10.8% cogeneration and electric generation, 2.7% industrial and other, and 28.8% transportation. At year-end 1994, SJG served 224,394 residential customers, 16,615 commercial customers and 397 industrial customers. This includes 1994 net additions of 5,910 residential customers, 409 commercial customers and 20 industrial customers.
Under a five-year agreement executed in 1990 with Atlantic Electric, an electric utility serving southern New Jersey, SJG supplies natural gas to Atlantic Electric's combustion turbine facility in Cumberland County. This gas service is being provided under the terms of a firm electric service tariff approved by the New Jersey Board of Public Utilities (BPU) on a demand/commodity basis. In 1994, 3.6 Bcf (billion cubic feet) was delivered under this agreement.
SJG serviced eight cogeneration facilities in 1994. Combined sales and transportation of natural gas to such customers amounted to approximately 8.7 Bcf in 1994.
During 1994, SJG began making wholesale gas sales for resale to gas marketers for ultimate delivery to end users. These "off-system" sales were made possible through the issuance by the Federal Energy Regulatory Commission (FERC) of Orders No. 547 and 636. Order No. 547 issued a blanket certificate of public convenience and necessity authorizing all parties, which are not interstate pipelines, to make FERC jurisdictional gas sales for resale at negotiated rates, while Order No. 636 allowed SJG to deliver gas at delivery points on the interstate pipeline system other than its own city gate stations. During 1994, off-system sales amounted to 16.8 Bcf. Gas supply utilized to make said sales was gas available in excess of the requirements of on-system jurisdictional customers.
Supplies of natural gas available to SJG that are in excess of the quantity required by those customers who use gas as their sole source of fuel (firm customers) make possible the sale of gas on an interruptible basis to commercial and industrial customers whose equipment is capable of using natural gas or other fuels, such as fuel oil and propane. The term "interruptible" is used in the sense that deliveries of natural gas may be terminated by SJG at any time if this action is necessary to meet the needs of customers purchasing gas under firm rate tariffs. Usage by interruptible customers, including off-system customers, in 1994 amounted to approximately 24.1 Bcf. (Approximately 32.5 percent of the total volume of gas delivered).
No material part of SJG business is dependent upon a single customer or a few customers.
The majority of the SJG residential customers reside in the northern and western portions of its service territory in Burlington, Camden, Salem and Gloucester counties. Approximately 50 percent of new customers reside in this section of the service territory, which includes the residential suburbs of Wilmington and Philadelphia. The franchise area to the east is centered on Atlantic City and the neighboring resort communities in Atlantic and Cape May counties, which experience large population increases in the summer months. The impact of the casino gaming industry on the Atlantic City area has resulted in the creation of new jobs and the expansion of the residential and commercial infrastructure necessary to support a developing year-round economy. Atlantic City is experiencing a second wave of development as a result of casino gaming. The centerpiece of this development is the new $254 million dollar multi-purpose convention center, accompanied with a planned billion dollar hotel and entertainment complex. These facilities will be used to attract large conventions as well as making Atlantic City into a family resort on a year around basis. The convention center is expected to be in operation as early as 1996.
Manufacturers or processors of sand, glass, farm products, paints, chemicals and petroleum products are located in the western and southern sectors of the service territory. New commercial establishments and high technology industrial parks and complexes are part of the economic growth of this area.
SJG's service area includes parts of the Pinelands region, a largely undeveloped area in the heart of southern New Jersey. Future construction in this area is expected to be limited by statute and by a master plan adopted by the New Jersey Pinelands Commission; however, in terms of potential growth, significant portions of SJG's service area are not affected by these limitations.
As a public utility, SJG is subject to regulation by the BPU. Additionally, the Natural Gas Policy Act, which was enacted in November 1978, contains provisions for Federal regulation of certain aspects of SJG's business. SJG is affected by Federal regulation with respect to transportation and pricing policies applicable to its natural gas supplies from Transcontinental Gas Pipeline Corporation (Transco), SJG's major supplier, and Columbia Gas Transmission Corporation (Columbia), since such services are provided under rates and terms established under the jurisdiction of the FERC.
Retail sales by SJG are made under rate schedules within a tariff filed with and subject to the jurisdiction of the BPU. These rate schedules provide primarily for either block rates or demand/commodity rate structures. The tariff contains provisions permitting SJG to pass on to customers increases and decreases in the cost of purchased gas supplies. The tariff also contains provisions permitting the recovery of environmental remediation costs associated with former gas plant sites and for the adjustment of revenues due to the impact of degree day fluctuations as prescribed in SJG's tariff structure.
Revenue requirements for ratemaking purposes are established on the basis of firm and interruptible sales projections. In December 1994, the BPU granted SJG a rate increase of $12.07 million based on an overall rate of return of 9.51% including an 11.5% return on equity. As part of this rate increase, SJG is allowed to retain the first $4.0 million of base revenues generated by interruptible and off-system sales and 20% of base revenues generated by such sales above that level until it realizes an 11.5% return on equity. Additional information on regulatory affairs is incorporated by reference to Note 1 on page 14 and Note 9 on pages 17 and 18 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
SJE, a New Jersey corporation, is a wholly owned non-regulated subsidiary of the Company and is engaged in providing services for the acquisition and transportation of natural gas for industrial and commercial users.
EMI, a New Jersey corporation, is a holding company that owns all of the outstanding common stock of The Morie Company, Inc. (Morie Company), and an inactive company, South Jersey Fuel, Inc. (Fuel Company).
Morie Company, a New Jersey corporation, is engaged in the mining, processing and marketing of a broad range of industrial and commercial sands and gravels. Its principal products are glass sand used for manufacturing cookware, containers and flat glass, foundry sand used as the core and molding medium in iron and steel foundries, and construction sand and gravels. Morie Company also produces sandblasting sands, filter sands and gravels, well gravels, special sand mixes for athletic tracks and golf courses, resin-coated sands, clay products and a wide variety of specialty products, including ready-mix concrete and specially processed silica for the electronics industry.
Total customers of Morie Company number in the thousands, and no single customer accounts for as much as 10% of annual sales. Tonnage sales in 1994 were approximately 12.8% higher than 1993, and Morie Company attributes this increase to the improving economy as well as additional customers and new products. Keen competition and railroad deregulation are factors affecting
prices on a delivered basis. All Morie Company facilities are in good operating condition and, along with ample high-quality mineral reserves, are capable of handling expanding markets and of supporting increased market share.
Fuel Company, a New Jersey corporation, sold its operating assets in November 1985 and is no longer in the business of distributing petroleum products.
R&T, a New Jersey corporation, is a holding company that owns all the common stock of R and T Castellini Company, Inc. (Castellini Company), S.W. Downer, Jr. Company, Inc. (Downer Company), Onshore Construction Company, Inc. (Onshore), Cape Atlantic Crane Co., Inc. (Cape Atlantic) and, beginning in 1993, R & T Castellini Construction Company, Inc. (R & T Construction). In 1994, approximately 45% of R&T net sales related to competitive-bid work performed for SJG. No other customer accounted for as much as 10% of R&T's consolidated revenues in 1994.
Castellini Company, a New Jersey corporation, is engaged in the installation of gas, water and sewer lines, plant maintenance, site work and environmental cleanup and remediation.
Downer Company, a New Jersey corporation, is engaged in the installation of gas, water and sewer lines, plant maintenance, site work and environmental cleanup and remediation.
Onshore, a New Jersey corporation, is principally engaged in the installation of large diameter pipe, sewerage plants, bridges, dams and other heavy construction projects.
Cape Atlantic, a New Jersey corporation, is principally engaged in the rental of cranes.
R & T Construction, a Delaware Corporation, is engaged in the installation of gas, water and sewer lines, plant maintenance, site work and environmental cleanup and remediation.
In 1994, the Company made no public announcement of, or otherwise made public information about, a new product or industry segment that would require the investment of a material amount of the assets of the Company or which otherwise was material.
Raw Materials
South Jersey Gas Pipeline Supply
SJG has direct connections to two interstate pipelines, Transco and Columbia. During 1994, services provided to SJG from these pipelines along with same provided by CNG Transmission Corporation (CNG) were subject to changes as directed by FERC when it issued its Order No. 636 "Pipeline Service Obligations and Revisions to Regulations Governing Self-Implemented Transportation Under Part 284 of the Commission's Regulations" issued on April 8, 1992. This order required significant alterations in the structure of interstate natural gas pipeline services.
Order No. 636 and its companion series of orders (636-A and 636-B) were intended by the FERC to complete the transition to a competitive natural gas industry initiated by the Natural Gas Policy Act of 1978 whereby all natural gas suppliers are able to compete for gas purchases on an equal footing.
The pipeline suppliers mentioned above filed Order No. 636 compliance filings late in 1992 and also submitted revised compliance filings during 1993. In these compliance filings each pipeline was required to submit a comprehensive explanation as to how it intended to implement the restructuring of its pipeline system services.
The FERC subsequently approved these revised compliance filings in time for the pipelines to implement the provisions of Order No. 636 in advance of the 1993-94 winter heating season.
Transco
Transco, during 1991, unbundled its sales and transportation services as a result of a FERC approved settlement that was negotiated with its customers. At that time SJG replaced its Commodity and Demand (CD) gas purchase contract with Transco with a Firm Transportation (FT) service and a gas purchase agreement (FS service). The FS service is a FERC approved service that provides a guaranteed supply of up to 111,869 Mcf per day of gas and gives the Company the option to buy gas from other suppliers to be transported under the firm transportation capacity if such supplies are available at lower costs. The initial term of the FS agreement extends through March 31, 2001.
On December 1, 1994, the Company entered into an NS Service Agreement (Negotiated Sales Service) with Transco Gas Marketing Company (TGMC) as agent for TRANSCO. Under the terms and provisions of the NS Service Agreement, the Company has contract quantity of 30,000 Mcf per day.
The NS service has a limited swing capability whereby prior to the nomination deadline for the first of the month, the Company must inform TGMC of the estimated quantity (up to 30,000 Mcf per day) it intends to purchase under the NS service for the month. The Company is then obligated to take a minimum 55 percent of the daily quantity it nominates multiplied times the number of days in the month. If the Company takes on any day during the month a quantity in excess of 81,869 Mcf under its FS Service Agreement, it will forfeit the NS Demand Credit of $.09 per Mcf for that portion taken above 81,869 Mcf multiplied times the number of days in the month. The daily quantity taken under a combination of NS service and FS service cannot exceed 111,869 Mcf per day.
On May 14, 1993, in response to Transco's compliance filing, the FERC issued an order in Transco's Order No. 636 restructuring proceeding. In said order, the FERC required, among other things, that Transco unbundle that portion of its Eminence Storage Field (approximately 3.1 billion cubic feet (Bcf)), previously reserved for use by Transco in rendering "swing supply" service to its sales (FS) customers. The FERC also directed that Transco should make its unbundled Eminence Storage Service (ESS) capacity available on a priority basis to its existing FS customers and SJG was allocated 316,177 Mcf of this storage capacity. Through subsequent expansions of the Eminence Storage Field, Transco has increased the Company's allocation of ESS storage capacity to 480,535 Mcf in December 1993 and to 633,829 Mcf in December 1994.
In addition to FS and NS service, SJG has a ten-year gas supply agreement with Vastar Gas Marketing (Vastar - formerly Arco Natural Gas) for delivery to its service territory by way of Transco FT service.
Since the 1992-93 winter season, SJG began receiving delivery of up to 24,700 Mcf per day of gas under a firm transportation agreement that was entered into with Transco as part of the Texas Gas-CNG Transmission-Transco project that was developed to provide additional firm pipeline capacity to deliver gas to the U.S. Northeast under Transco's Rate Schedule FT-NT. The gas source that is available for transportation on the Transco-CNG Transmission- Texas Gas pipeline capacity is purchased from Amerada Hess under a 15 year gas supply agreement.
Additionally, SJG has a winter season peaking transportation service on the Transco system which is available for the period December 1 through the last day of February of each year. SJG's maximum daily entitlement under this service is 2,900 Mcf per day. SJG can transport third party gas via said service and has contracted with Amerada Hess for a long-term firm gas supply to fill its capacity during each winter season.
Columbia
As part of its FERC Order No. 636 restructuring, Columbia unbundled its traditional sales service from its firm transportation service and as such has eliminated its previous long term sales service under Rate Schedule CDS. SJG previously held a CDS sales agreement with Columbia which provided for a maximum daily sales entitlement of 33,816 Mcf per day. As a result of Columbia's restructuring, SJG has been assigned an equivalent 33,816 Mcf per day of firm transportation capacity on both Columbia and its affiliate Columbia Gulf Transmission Company (Columbia Gulf).
As a result of the above, in 1993, SJG entered into long-term gas purchase agreements with Vastar, Texaco Natural Gas (formerly Texaco Gas Marketing) and Union Pacific Fuels for a total of 33,816 Mcf of gas per day to fill this firm pipeline capacity on the Columbia and Columbia Gulf pipeline systems.
Additionally during 1993, 483,092 Mcf of storage capacity previously rendered to SJG under Columbia's Rate Schedule WS was converted to storage service rendered under Rate Schedule FSS on a one-for-one basis.
On July 31, 1991, Columbia and its parent, Columbia Gas Systems, Inc. filed for Chapter 11 bankruptcy protection. Columbia has stated to its customers that it would fulfil all contractual obligations pending reorganization. To date Columbia has met all contractual obligations and it is anticipated this will be the case in the future.
On January 18, 1994 Columbia filed a reorganization plan with the U.S. Bankruptcy Court for the District of Delaware. An order on this filing is still pending.
CNG
As part of its Order No. 636 restructuring, CNG has abandoned gas sales service under its Rate Schedule SCQ. SJG previously had an SCQ Service Agreement with CNG which provided for the delivery of 9,662 Mcf per day to Transco at Leidy, PA for ultimate delivery to the Company during the period November 16 through March 31 of each winter season. As a result of Order No. 636 CNG has replaced the 9,662 Mcf per day of SCQ sales service with 5,357 Mcf per day of Firm Transportation (FT) service from various Appalachian aggregation points located in Pennsylvania and West Virginia and 408,670 Mcf of storage capacity with 4,305 Mcf per day of storage withdrawal demand in CNG's GSS Storage Service. In 1993, to facilitate the utilization of these new services, SJG entered into separate gas sales and capacity management agreements with CNG Energy Services (formerly CNG Gas Services Corporation), a non-jurisdictional affiliate of CNG. Through these agreements SJG has assigned to CNG Energy Services its pipeline FT and storage entitlements on the CNG pipeline system for use to provide SJG with up to 9,662 Mcf per day of gas during the winter seasons, November 16 through March 31 of each year.
Peak-Day Supply
SJG plans for a winter season peak-day demand on the basis of an average daily temperature of 5 degrees F. Gas demand on such a design day was estimated for the 1994-95 winter season to be 373,741 Mcf versus a design day supply of
400,521 Mcf. On January 19, 1994, SJG experienced its highest peak-day demand of 366,382 Mcf with an average temperature of 2.68 degrees F.
Storage Services
In addition to its normal gas suppliers, SJG has nine storage services that are capable of storing 11.7 Bcf of gas and provide a total daily delivery capacity of 111,526 Mcf. While these storage services do not represent an additional source of gas, they do provide SJG with flexibility to acquire gas during periods of low demand and store it until it is needed during winter heating seasons and other times of high demand.
SJG has the following contracts for gas storage service:
Contract Term Storage Capacity
1972 - 1995 1,362,980 Mcf 1980 - 1998 4,257,135 Mcf Year-to-Year 137,813 Mcf Year-to-Year 207,770 Mcf (1) 1984 - 1995 1,182,609 Mcf 1987 - 2002 500,000 Mcf 1988 - 2008 1,307,400 Mcf 1989 - 2009 1,099,346 Mcf 1990 - 2005 1,705,000 Mcf
(1) Contract is for storage of liquefied natural gas; the amount shown is natural gas equivalent.
Supplemental Gas Supplies
In 1994, SJG injected 310,946 Mcf of vaporized liquefied natural gas (LNG) into its distribution system from its McKee City, New Jersey LNG facility. This LNG was obtained through a long-term LNG purchase agreement with Distrigas of Massachusetts Corporation and from gas liquefaction service that was provided by Transco.
SJG's three propane-air vaporization plants enable it to augment natural gas supplies during periods of peak demand by vaporizing liquid propane and mixing the vaporized propane with air to form a gas that is compatible with natural gas. During 1994, 17,908 Mcf of propane-air gas was utilized by SJG.
Gas Prices
During 1994 SJG purchased and had delivered to it approximately 55.3 Bcf of natural gas for distribution to its customers in New Jersey. Of this total, 41.4 Bcf was transported on the Transco pipeline system and 13.9 Bcf was transported on the Columbia pipeline system.
The Company's average cost of gas purchased in 1994 was $3.09 per Mcf, which unit cost includes all demand and commodity charges.
Energy & Minerals, Inc.
Morie Company
Morie Company obtains substantially all of the materials which it processes from its owned or leased properties in New Jersey, Tennessee, Georgia and Alabama. (See Item 2.
Item 2. Properties
The principal property of SJG consists of its gas transmission and distribution systems that include mains, service connections and meters. The transmission facilities carry the gas from the connections with Transco and Columbia to SJG's distribution systems for delivery to customers. As of December 31, 1994, there were approximately 343 miles of mains in the transmission systems and 4,476 miles of mains in the distribution systems.
SJG owns office and service buildings, including its corporate headquarters, at eight locations in the territory, a liquefied natural gas storage and vaporization facility, and three propane-air vaporization plants. Also, SJG owns a bus parking lot in Atlantic City, N.J.
As of December 31, 1994, the SJG utility plant had a gross book value of $506,409,713 and a net book value, after accumulated depreciation, of $370,298,124. In 1994, $36,247,958 was spent on additions to utility plant and there were retirements of property having an aggregate gross book cost of $3,537,268. Construction expenditures for 1995 are currently expected to approximate $31.2 million.
Virtually all of the SJG transmission pipeline, distribution mains and service connections are in streets or highways or on the property of others. The SJG transmission and distribution systems are maintained under franchises or permits or rights-of-way, many of which are perpetual. The SJG properties (other than property specifically excluded) are subject to a lien of mortgage under which its first mortgage bonds are outstanding. Such properties are well- maintained and in good operating condition.
EMI owns two properties in Atlantic City, N.J., one of which includes commercial space that is being rented to others. EMI also owns and rents to others two commercial properties in Millville, N.J., one of which is rented to Morie Company.
Morie Company owns eleven plants, seven of which are located in New Jersey, two in Tennessee, one in Georgia and one in Alabama. The Morie Company owns approximately 6,000 acres of land and leases approximately 4,800 acres of land. The combined acreage includes approximately 1,450 acres of mineable reserves. The mineral leases typically grant the right to mine sand and gravel for an initial period with several renewal options. The mineral leases typically provide for a royalty per ton mined and sold. Morie Company estimates its proven reserves of sand at approximately 130,800,000 tons of raw aggregates which may be profitably extracted and processed, based on present methods of operation and prevailing prices. Reserves have been estimated on the basis of laboratory and field analyses of samples produced by techniques such as split spoon, core drillings and excavating experience on the sites.
R&T operating companies share land and buildings at two principal locations used for administrative operations and housing facilities for vehicles, heavy equipment and supplies.
The Company owns approximately 139 acres of land in Folsom, New Jersey, approximately 9.29 acres of land in Linwood, New Jersey, and an office building in Chester, Pennsylvania.
Item 3.
Item 3. Legal Proceedings
The Company is not aware of any pending or potential legal proceedings that it believes will have a material effect on its operations or consolidated financial position. Reference is made to Note 9 on pages 17 and 18 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Item 4.
Item 4. Submission Of Matters To A Vote of Security Holders
No matter was submitted to a vote of security holders during the fourth quarter of the 1994 fiscal year.
Item 4 - A. Executive Officers (Other Than Directors) of the Registrant
Name Age Positions with the Company
Gerald S. Levitt 50 Vice President
George L. Baulig 52 Secretary and Assistant Treasurer
Richard B. Tonielli 55 Treasurer
There is no family relationship among the officers of the registrant.
Gerald S. Levitt was elected Vice President of the Company and Senior Vice President of South Jersey Gas effective November 1, 1983. He has served as Chief Financial Officer of the Company since October 1, 1989. He was elected Executive Vice President of South Jersey Gas on November 1, 1986. Mr. Levitt was Vice President of EMI from November 1983 to November 1986. Mr. Levitt is also a member of the Board of Directors of Morie Company.
Richard B. Tonielli was elected Treasurer of the Company effective September 1981. He has served as Senior Vice President, Finance since April 1, 1988 and he has served in other officer positions of South Jersey Gas since 1983. Mr. Tonielli serves as Vice President and Treasurer of EMI (September 1981 to date) and Treasurer of R&T Group, Inc. (October 1989 to date).
George L. Baulig was elected Secretary and Assistant Treasurer of the Company, South Jersey Gas and EMI effective November 1, 1980. Mr. Baulig is also Secretary of R&T Group, Inc. (October 1989 to date), South Jersey Energy Company and Morie Company.
Executive officers of the Company are elected annually and serve at the pleasure of the Board of Directors.
PART II
Item 5.
Item 5. Market for the Registrant's Common Stock and Related Stockholder Matters
Information required by this Item is incorporated by reference to Note 6 on page 17 and the bottom of page 22 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Item 6.
Item 6. Selected Financial Data
Information required by this Item is incorporated by reference to page 1 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Item 7.
Item 7. Management's Discussion and Analysis of Results of Operations and Financial Condition
Information required by this Item is incorporated by reference to pages 19, 20 and 21 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Item 8.
Item 8. Financial Statements and Supplementary Data
Information required by this Item is incorporated by reference to pages 10 through 19 and page 22 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant
Information required by this Item relating to the directors of the Company is incorporated by reference to pages 2 through 6 of the Company's definitive Proxy Statement, dated March 8, 1995, filed with the Commission, File number 1-6364, in connection with the Company's 1995 Annual Meeting of Shareholders. Information required by this Item relating to the executive officers (other than Directors) of the Company is set forth in Item 4 - A of this report.
Item 11.
Item 11. Executive Compensation
Information required by this Item is incorporated by reference to pages 5 through 10 (except for the Report of the Compensation/Pension Committee on pages 9 and 10, and the Stock Performance Graph on page 10, which are not so incorporated) of the Company's definitive Proxy Statement, dated March 8, 1995, filed with the Commission, File number 1-6364, in connection with the Company's 1995 Annual Meeting of Shareholders.
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Information required by this Item is incorporated by reference to pages 2 through 6 of the Company's definitive Proxy Statement, dated March 8, 1995, filed with the Commission, File number 1-6364, in connection with the Company's 1995 Annual Meeting of Shareholders.
Item 13.
Item 13. Certain Relationships and Related Transactions
Information required by this Item is incorporated by reference to page 6 of the company's definitive Proxy Statement, dated March 8, 1995, filed with the Commission, File number 1-6364, in connection with the Company's 1995 Annual Meeting of Shareholders.
PART IV
Item 14.
Item 14. Exhibits, Financial Statement Schedule, and Reports on Form 8-K.
(a) Listed below are all financial statements and schedules filed as part of this report:
1 - The consolidated financial statements and notes to consolidated financial statements together with the report thereon of Deloitte & Touche LLP, dated February 15, 1995, are incorporated herein by reference to pages 10 through 19 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
2 - Supplementary Financial Information Page(s)
Information regarding selected quarterly financial data is incorporated herein by reference to page 22 of the Company's Annual Report to Shareholders for the year ended December 31, 1994, which Annual Report is attached to this report. See Item 14(c)(13).
Supplemental Schedules as of December 31, 1994, 1993 and 1992 and for the three years ended December 31, 1994, 1993, and 1992:
The Independent Auditors' Report of Deloitte & Touche LLP, Auditors of the Company 25
Schedule II - Valuation and Qualifying Accounts 26
(All Schedules, other than that listed above, are omitted because the information called for is included in the financial statements filed or because they are not applicable or are not required. Separate financial statements are not presented because all consolidated subsidiaries are wholly-owned.)
3 - See Item 14(c)(13)
(b) No reports on Form 8-K have been filed by the Company during the quarter ended December 31, 1994.
(c) List of Exhibits (Exhibit Number is in Accordance with the Exhibit Table in Item 601 of Regulation S-K)
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(3)(a)(i) Certificate of Incorporation (4)(a) Form S-2 of the Company, as amended (2-91515) through April 19, 1984.
(3)(a)(ii) Amendment to Certificate of (4)(e)(1) Form S-3 Incorporation relating to (33-1320) two-for-one stock split effective as of April 28, 1987.
(3)(a)(iii) Amendment to Certificate of (4)(e)(2) Form S-3 Incorporation relating to (33-1320) director and officer liability.
(3)(b) Bylaws of the Company as amended and restated through April 20, 1995 (filed herewith).
(4)(a) Form of Stock Certificate (4)(a) Form 10-K for common stock. for 1985 (1-6364)
(4)(b)(i) First Mortgage Indenture (4)(b)(i) Form 10-K dated October 1, 1947. for 1987 (1-6364)
(4)(b)(vii) Form of South Jersey Gas (4)(b)(vii) Form 10-K Company First Mortgage for 1980 Bond, 8-1/4% Series due 1996. (1-6364)
(4)(b)(viii) Form of South Jersey Gas (4)(b)(viii) Form 10-K Company First Mortgage for 1980 Bond, 8-1/4% Series due 1998. (1-6364)
(4)(b)(x) Twelfth Supplemental Inden- 5(b) Form S-7 ture, dated as of June 1, (2-68038) 1980.
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(4)(b)(xii) Fifteenth Supplemental (4)(b)(xiii) Form 10-K Indenture, dated July for 1986 1, 1986, 9.2% Series (1-6364) due 1998.
(4)(b)(xiv) Sixteenth Supplemental (4)(b)(xv) Form 10-Q Indenture dated as of for quarter April 1, 1988, 10-1/4% ended Series due 2008. March 31, 1988 (1-6364)
(4)(b)(xv) Seventeenth Supplemental (4)(b)(xv) Form 10-K Indenture dated as of for 1989 May 1, 1989. (1-6364)
(4)(b)(xvi) Eighteenth Supplemental (4)(e) Form S-3 Indenture, dated as of (33-36581) March 1, 1990.
(4)(b)(xvii) Nineteenth Supplemental (4)(b)(xvii) Form 10-K Indenture, dated as of for 1992 April 1, 1992. (1-6364)
(4)(b)(xviii) Twentieth Supplemental (4)(b)(xviii) Form 10-K Indenture, dated as of for 1993 June 1, 1993. (1-6364)
(4)(c) Indenture dated as of January 31, 1995; 8.60% Debenture Notes due February 1, 2010 (filed herewith).
(9) None
(10)(d) Gas storage agreement (GSS) (10)(d) Form 10-K between South Jersey Gas for 1993 Company and Transco, (1-6364) dated October 1, 1993.
(10)(e) Gas storage agreement (S-2) (5)(h) Form S-7 between South Jersey Gas (2-56223) Company and Transco, dated December 16, 1953.
(10)(f) Gas storage agreement (LG-A) (5)(f) Form S-7 between South Jersey Gas (2-56223) Company and Transco, dated June 3, 1974.
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(10)(h) Gas storage agreement (WSS) (10)(h) Form 10-K between South Jersey Gas for 1991 Company and Transco, dated (1-6364) August 1, 1991.
(10)(i) Gas storage agreement (LSS) (10)(i) Form 10-K between South Jersey Gas for 1993 Company and Transco, (1-6364) dated October 1, 1993.
(10)(i)(a) Gas storage agreement (10)(i)(a) Form 10-K (SS-1) between South Jersey for 1988 Gas Company and Transco, (1-6364) dated May 10, 1987 (effective April 1, 1988).
(10)(i)(b) Gas storage agreement (10)(i)(b) Form 10-K (ESS) between South Jersey for 1993 Gas Company and Transco, (1-6364) dated November 1, 1993.
(10)(i)(c) Gas transportation service (10)(i)(c) Form 10-K agreement between South for 1989 Jersey Gas Company and (1-6364) Transco, dated April 1, 1986.
(10)(i)(e) Service agreement (FS) (10)(i)(e) Form 10-K between South Jersey Gas for 1991 Company and Transco, dated (1-6364) August 1, 1991.
(10)(i)(f) Service agreement (FT) (10)(i)(f) Form 10-K between South Jersey Gas for 1991 Company and Transco, dated (1-6364) February 1, 1992.
(10)(i)(g) Service agreement (10)(i)(g) Form 10-K (Incremental FT) for 1991 between South Jersey Gas Company (1-6364) and Transco, dated August 1, 1991.
(10)(i)(i) Gas storage agreement (SS-2) (10)(i)(i) Form 10-K between South Jersey Gas for 1991 company and Transco, dated (1-6364) July 25, 1990.
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(10)(i)(j) Gas Transportation Service (10)(i)(j) Form 10-K Agreement between South for 1993 Jersey Gas Company and (1-6364) Transco, dated December 20, 1991.
(10)(i)(k) Amendment to Gas (10)(i)(k) Form 10-K Transportation Agreement, for 1993 dated December 20, 1991 (1-6364) between South Jersey Gas Company and Transco, dated October 5, 1993.
(10)(j)(a) Gas Transportation Service (10)(j)(a) Form 10-K Agreement (FTS) between South for 1989 Jersey Gas Company and (1-6364) Equitable Gas Company, dated November 1, 1986.
(10)(k)(h) Gas Transportation Service (10)(k)(h) Form 10-K Agreement (TF) between for 1993 South Jersey Gas Company (1-6364) CNG Transmission Corporation dated October 1, 1993.
(10)(k)(i) Gas purchase agreement (10)(k)(i) Form 10-K between South Jersey Gas for 1989 Company and ARCO Gas Market- (1-6364) ing, Inc., dated March 5, 1990.
(10)(k)(k) Gas Transportation Service (10)(k)(k) Form 10-K Agreement (FTS 1) between for 1993 South Jersey Gas Company and (1-6364) Columbia Gulf Transmission Company, dated November 1, 1993.
(10)(k)(l) Assignment Agreement (10)(k)(i) Form 10-K capacity and service rights for 1993 (FTS-2) between South Jersey (1-6364) Gas Company and Columbia Gulf Transmission Company, dated November 1, 1993.
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(10)(k)(m) FTS Service Agreement (10)(k)(m) Form 10-K No. 39556 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(n) FTS Service Agreement (10)(k)(n) Form 10-K No. 38099 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(o) NTS Service Agreement (10)(k)(o) Form 10-K No. 39305 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(p) FSS Service Agreement (10)(k)(p) Form 10-K No. 38130 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(q) SST Service Agreement (10)(k)(q) Form 10-K No. 38086 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(r) NS (Negotiated Sales) Service Agreement dated December 1, 1994 between South Jersey Gas Company and Transco Gas Marketing Company as agent for Transcontinental Gas Pipe Line (filed herewith).
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(10)(l) Deferred Payment Plan for Directors of South Jersey Industries, Inc., South Jersey Gas Company, Energy & Minerals, Inc., R&T Group, Inc. and South Jersey Energy Company as amended and restated October 21, 1994 (filed herewith).
(10)(l)(a) Form of Deferred Compen- (10)(j)(a) Form 10-K sation Agreement between for 1980 the Company and/or a sub- (1-6364) sidiary and eleven of its officers.
(10)(l)(b) Schedule of Deferred Com- (10)(l)(b) Form 10-K pensation Agreements. for 1992 (1-6364)
(10)(l)(c) Supplemental Executive (10)(l)(c) Form 10-K Retirement Program, as for 1992 amended and restated ef- (1-6364) fective September 1, 1991, and form of Agreement between certain Company or subsidiary Company officers.
(10)(l)(d) Form of Officer Employment Agreement between certain officers and either the Company or its Subsidiaries (filed herewith).
(10)(l)(e) Schedule of Officer Employment Agreements (filed herewith).
(10)(l)(f) Officer Severance Benefit (10)(l)(g) Form 10-K Program for all officers. for 1985 (1-6364)
(10)(l)(g) Discretionary Incentive (10(l)(h) Form 10-K Bonus Program for all for 1985 officers and management (1-6364) employees.
(10)(l)(h) The 1987 Stock Option and (10)(l)(i) Form 10-K Stock Appreciation Rights for 1987 Plan including Form of (1-6364) Agreement.
Exhibit Incorporated by Reference From Number Exhibit Reference Document
(10)(p) Retirement Plan for Non- (10)(p) Form 10-K employee Members of the for 1988 Board of Directors. (1-6364)
(10)(q) Executive Employment Agreement dated June 17, 1994 between the Company and William F. Ryan, President and Chief Executive Officer (filed herewith).
(11) Not Applicable
(12) Calculation of Ratio of Earnings to Fixed Charges (Before Federal Income Taxes) (filed herewith).
(13) The Annual Report to Shareholders of the Company for the year ended December 31, 1994 is filed as an exhibit hereto solely to the extent portions are specifically incorporated by reference herein.
(16) Not Applicable
(18) Not Applicable
(21) Subsidiaries of the Registrant (filed herewith).
(22) None
(23) Independent Auditors' Consent (filed herewith).
(24) Power of Attorney (filed herewith).
(27) Financial Data Schedule (Submitted only in electronic format to the Securities and Exchange Commission.
(99) None
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SOUTH JERSEY INDUSTRIES, INC.
BY /s/ G. S. Levitt G. S. Levitt, Vice President
Date March 27, 1995
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
Signature Title Date
/s/ William F. Ryan President and Director March 27, 1995 (William F. Ryan) (Principal Executive Officer)
/s/ G. S. Levitt Vice President March 27, 1995 (G. S. Levitt) (Principal Financial Officer)
/s/ Richard B. Tonielli Treasurer (Principal March 27, 1995 (Richard B. Tonielli) Accounting Officer)
/s/ Frank L. Bradley, Jr. Director March 27, 1995 (Frank L. Bradley, Jr.)
/s/ Richard L. Dunham Director March 27, 1995 (Richard L. Dunham)
/s/ W. Cary Edwards Director March 27, 1995 (W. Cary Edwards)
/s/ Thomas L. Glenn, Jr. Director March 27, 1995 (Thomas L. Glenn, Jr.)
/s/ Vincent E. Hoyer Director March 27, 1995 (Vincent E. Hoyer)
/s/ Herman D. James Director March 27, 1995 (Herman D. James)
/s/ Marilyn Ware Lewis Director March 27, 1995 (Marilyn Ware Lewis)
/s/ Clarence D. McCormick Director March 27, 1995 (Clarence D. McCormick)
/s/ Peter M. Mitchell Director March 27, 1995 (Peter M. Mitchell)
/s/ Jackson Neall Director March 27, 1995 (Jackson Neall)
/s/ Shirli M. Vioni Director March 27, 1995 (Shirli M. Vioni)
INDEPENDENT AUDITORS' REPORT
South Jersey Industries, Inc.:
We have audited the consolidated financial statements of South Jersey Industries, Inc. and its subsidiaries as of December 31, 1994 and 1993 and for each of the three years in the period ended December 31, 1994 and have issued our report thereon dated February 15, 1995, which report includes an explanatory paragraph as to the Company changing its method of accounting for income taxes, effective January 1, 1993, to conform with Statement of Financial Standards No. 109 and its method of accounting for postretirement benefits other than pensions, effective January 1, 1993, to conform with Statement of Financial Accounting Standards No. 106; such financial statements and report are included in your 1994 Annual Report to Shareholders and are incorporated herein by reference. Our audits also included the financial statement schedule of South Jersey Industries, Inc. and its subsidiaries, listed in Item 14. This financial statement schedule is the responsibility of the Company's management. Our responsibility is to express an opinion based on our audits. In our opinion, such financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly in all material respects the information set forth therein.
DELOITTE & TOUCHE LLP Philadelphia, Pennsylvania February 15, 1995
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(3)(a)(i) Certificate of Incorporation (4)(a) Form S-2 of the Company, as amended (2-91515) through April 19, 1984.
(3)(a)(ii) Amendment to Certificate of (4)(e)(1) Form S-3 Incorporation relating to (33-1320) two-for-one stock split effective as of April 28, 1987.
(3)(a)(iii) Amendment to Certificate of (4)(e)(2) Form S-3 Incorporation relating to (33-1320) director and officer liability.
(3)(b) Bylaws of the Company as amended and restated through April 20, 1995 (filed herewith).
(4)(a) Form of Stock Certificate (4)(a) Form 10-K for common stock. for 1985 (1-6364)
(4)(b)(i) First Mortgage Indenture (4)(b)(i) Form 10-K dated October 1, 1947. for 1987 (1-6364)
(4)(b)(vii) Form of South Jersey Gas (4)(b)(vii) Form 10-K Company First Mortgage for 1980 Bond, 8-1/4% Series due 1996. (1-6364)
(4)(b)(viii) Form of South Jersey Gas (4)(b)(viii) Form 10-K Company First Mortgage for 1980 Bond, 8-1/4% Series due 1998. (1-6364)
(4)(b)(x) Twelfth Supplemental Inden- 5(b) Form S-7 ture, dated as of June 1, (2-68038) 1980.
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(4)(b)(xii) Fifteenth Supplemental (4)(b)(xiii) Form 10-K Indenture, dated July for 1986 1, 1986, 9.2% Series (1-6364) due 1998.
(4)(b)(xiv) Sixteenth Supplemental (4)(b)(xv) Form 10-Q Indenture dated as of for quarter April 1, 1988, 10-1/4% ended Series due 2008. March 31, 1988 (1-6364)
(4)(b)(xv) Seventeenth Supplemental (4)(b)(xv) Form 10-K Indenture dated as of for 1989 May 1, 1989. (1-6364)
(4)(b)(xvi) Eighteenth Supplemental (4)(e) Form S-3 Indenture, dated as of (33-36581) March 1, 1990.
(4)(b)(xvii) Nineteenth Supplemental (4)(b)(xvii) Form 10-K Indenture, dated as of for 1992 April 1, 1992. (1-6364)
(4)(b)(xviii) Twentieth Supplemental (4)(b)(xviii) Form 10-K Indenture, dated as of for 1993 June 1, 1993. (1-6364)
(4)(c) Indenture dated as of January 31, 1995; 8.60% Debenture Notes due February 1, 2010 (filed herewith).
(9) None
(10)(d) Gas storage agreement (GSS) (10)(d) Form 10-K between South Jersey Gas for 1993 Company and Transco, (1-6364) dated October 1, 1993.
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(10)(e) Gas storage agreement (S-2) (5)(h) Form S-7 between South Jersey Gas (2-56223) Company and Transco, dated December 16, 1953.
(10)(f) Gas storage agreement (LG-A) (5)(f) Form S-7 between South Jersey Gas (2-56223) Company and Transco, dated June 3, 1974.
(10)(h) Gas storage agreement (WSS) (10)(h) Form 10-K between South Jersey Gas for 1991 Company and Transco, dated (1-6364) August 1, 1991.
(10)(i) Gas storage agreement (LSS) (10)(i) Form 10-K between South Jersey Gas for 1993 Company and Transco, (1-6364) dated October 1, 1993.
(10)(i)(a) Gas storage agreement (10)(i)(a) Form 10-K (SS-1) between South Jersey for 1988 Gas Company and Transco, (1-6364) dated May 10, 1987 (effective April 1, 1988).
(10)(i)(b) Gas storage agreement (10)(i)(b) Form 10-K (ESS) between South Jersey for 1993 Gas Company and Transco, (1-6364) dated November 1, 1993.
(10)(i)(c) Gas transportation service (10)(i)(c) Form 10-K agreement between South for 1989 Jersey Gas Company and (1-6364) Transco, dated April 1, 1986.
(10)(i)(e) Service agreement (FS) (10)(i)(e) Form 10-K between South Jersey Gas for 1991 Company and Transco, dated (1-6364) August 1, 1991.
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(10)(i)(f) Service agreement (FT) (10)(i)(f) Form 10-K between South Jersey Gas for 1991 Company and Transco, dated (1-6364) February 1, 1992.
(10)(i)(g) Service agreement (10)(i)(g) Form 10-K (Incremental FT) for 1991 between South Jersey Gas Company (1-6364) and Transco, dated August 1, 1991.
(10)(i)(i) Gas storage agreement (SS-2) (10)(i)(i) Form 10-K between South Jersey Gas for 1991 company and Transco, dated (1-6364) July 25, 1990.
(10)(i)(j) Gas Transportation Service (10)(i)(j) Form 10-K Agreement between South for 1993 Jersey Gas Company and (1-6364) Transco, dated December 20, 1991.
(10)(i)(k) Amendment to Gas (10)(i)(k) Form 10-K Transportation Agreement, for 1993 dated December 20, 1991 (1-6364) between South Jersey Gas Company and Transco, dated October 5, 1993.
(10)(j)(a) Gas Transportation Service (10)(j)(a) Form 10-K Agreement (FTS) between South for 1989 Jersey Gas Company and (1-6364) Equitable Gas Company, dated November 1, 1986.
(10)(k)(h) Gas Transportation Service (10)(k)(h) Form 10-K Agreement (TF) between for 1993 South Jersey Gas Company (1-6364) CNG Transmission Corporation dated October 1, 1993.
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(10)(k)(i) Gas purchase agreement (10)(k)(i) Form 10-K between South Jersey Gas for 1989 Company and ARCO Gas Market- (1-6364) ing, Inc., dated March 5, 1990.
(10)(k)(k) Gas Transportation Service (10)(k)(k) Form 10-K Agreement (FTS 1) between for 1993 South Jersey Gas Company and (1-6364) Columbia Gulf Transmission Company, dated November 1, 1993.
(10)(k)(l) Assignment Agreement (10)(k)(i) Form 10-K capacity and service rights for 1993 (FTS-2) between South Jersey (1-6364) Gas Company and Columbia Gulf Transmission Company, dated November 1, 1993.
(10)(k)(m) FTS Service Agreement (10)(k)(m) Form 10-K No. 39556 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(n) FTS Service Agreement (10)(k)(n) Form 10-K No. 38099 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(o) NTS Service Agreement (10)(k)(o) Form 10-K No. 39305 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(10)(k)(p) FSS Service Agreement (10)(k)(p) Form 10-K No. 38130 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(q) SST Service Agreement (10)(k)(q) Form 10-K No. 38086 between South for 1993 Jersey Gas Company and (1-6364) Columbia Gas Transmission Corporation, dated November 1, 1993.
(10)(k)(r) NS (Negotiated Sales) Service Agreement dated December 1, 1994 between South Jersey Gas Company and Transco Gas Marketing Company as agent for Transcontinental Gas Pipe Line (filed herewith).
(10)(l) Deferred Payment Plan for Directors of South Jersey Industries, Inc., South Jersey Gas Company, Energy & Minerals, Inc., R&T Group, Inc. and South Jersey Energy Company as amended and restated October 21, 1994 (filed herewith).
(10)(l)(a) Form of Deferred Compen- (10)(j)(a) Form 10-K sation Agreement between for 1980 the Company and/or a sub- (1-6364) sidiary and eleven of its officers.
(10)(l)(b) Schedule of Deferred Com- (10)(l)(b) Form 10-K pensation Agreements. for 1992 (1-6364)
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(10)(l)(c) Supplemental Executive (10)(l)(c) Form 10-K Retirement Program, as for 1992 amended and restated ef- (1-6364) fective September 1, 1991, and form of Agreement between certain Company or subsidiary Company officers.
(10)(l)(d) Form of Officer Employment Agreement between certain officers and either the Company or its Subsidiaries (filed herewith).
(10)(l)(e) Schedule of Officer Employment Agreements (filed herewith).
(10)(l)(f) Officer Severance Benefit (10)(l)(g) Form 10-K Program for all officers. for 1985 (1-6364)
(10)(l)(g) Discretionary Incentive (10(l)(h) Form 10-K Bonus Program for all for 1985 officers and management (1-6364) employees.
(10)(l)(h) The 1987 Stock Option and (10)(l)(i) Form 10-K Stock Appreciation Rights for 1987 Plan including Form of (1-6364) Agreement.
(10)(p) Retirement Plan for Non- (10)(p) Form 10-K employee Members of the for 1988 Board of Directors. (1-6364)
(10)(q) Executive Employment Agreement dated June 17, 1994 between the Company and William F. Ryan, President and Chief Executive Officer (filed herewith).
SOUTH JERSEY INDUSTRIES, INC. NUMBER ONE SOUTH JERSEY PLAZA ROUTE 54 FOLSOM, NEW JERSEY 08037 FORM 10-K FYE 12/31/94
EXHIBIT INDEX Incorporated by Reference From Reference Reference Number Description of Exhibit Exhibit Document
(11) Not Applicable
(12) Calculation of Ratio of Earnings to Fixed Charges (Before Federal Income Taxes) (filed herewith).
(13) The Annual Report to Shareholders of the Company for the year ended December 31, 1994 is filed as an exhibit hereto solely to the extent portions are specifically incorporated by reference herein.
(16) Not Applicable
(18) Not Applicable
(21) Subsidiaries of the Registrant (filed herewith).
(22) None
(23) Independent Auditors' Consent (filed herewith).
(24) Power of Attorney (filed herewith).
(27) Financial Data Schedule (Submitted only in electronic format to the Securities and Exchange Commission.
(99) None