XML 43 R20.htm IDEA: XBRL DOCUMENT
v3.24.3

Business Segment Information | 12 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information The Company reports financial results for four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The division of the Company’s operations into reportable segments is based upon a combination of factors including differences in products and services, regulatory environment and geographic factors. The Exploration and Production segment, through Seneca, is engaged in exploration for and development of natural gas reserves in the Appalachian region of the United States. The Pipeline and Storage segment operations are regulated by the FERC for both Supply Corporation and Empire. Supply Corporation transports and stores natural gas for utilities (including Distribution Corporation), natural gas marketers, exploration and production companies (including Seneca) and pipeline companies in the northeastern United States markets. Empire transports and stores natural gas for major industrial companies, utilities (including Distribution Corporation) and power producers in New York State. Empire also transports natural gas for natural gas marketers and exploration and production companies (including Seneca) from natural gas producing areas in Pennsylvania to markets in New York and to interstate pipeline delivery points with access to additional markets in the northeastern United States and Canada. The Gathering segment is comprised of Midstream Company’s operations. Midstream Company builds, owns and operates natural gas pipeline gathering facilities in the Appalachian region and currently provides gathering services primarily to Seneca. The Utility segment operations are regulated by the NYPSC and the PaPUC and are carried out by Distribution Corporation. Distribution Corporation sells natural gas to retail customers and provides natural gas transportation services in western New York and northwestern Pennsylvania. The data presented in the tables below reflects financial information for the segments and reconciliations to consolidated amounts. The accounting policies of the segments are the same as those described in Note A — Summary of Significant Accounting Policies. Sales of products or services between segments are billed at regulated rates or at market rates, as applicable. The Company evaluates segment performance based on income before discontinued operations (when applicable). When this is not applicable, the Company evaluates performance based on net income.
| Year Ended September 30, 2024
| Exploration and Production |  | Pipeline and Storage |  | Gathering |  | Utility |  | Total Reportable Segments |  | All Other |  | Corporate and Intersegment Eliminations |  | Total Consolidated
| (Thousands)
Revenue from External Customers(1) | $ | 961,078 |  |  | $ | 271,388 |  |  | $ | 15,537 |  |  | $ | 696,807 |  |  | $ | 1,944,810 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,944,810 |
Intersegment Revenues | $ | — |  |  | $ | 141,005 |  |  | $ | 228,688 |  |  | $ | 555 |  |  | $ | 370,248 |  |  | $ | — |  |  | $ | (370,248) |  |  | $ | — |
Interest Income | $ | 2,729 |  |  | $ | 8,632 |  |  | $ | 333 |  |  | $ | 5,736 |  |  | $ | 17,430 |  |  | $ | — |  |  | $ | (8,703) |  |  | $ | 8,727 |
Interest Expense | $ | 59,799 |  |  | $ | 47,428 |  |  | $ | 14,206 |  |  | $ | 34,727 |  |  | $ | 156,160 |  |  | $ | 374 |  |  | $ | (17,839) |  |  | $ | 138,695 |
Depreciation, Depletion and Amortization | $ | 277,945 |  |  | $ | 74,530 |  |  | $ | 38,817 |  |  | $ | 65,261 |  |  | $ | 456,553 |  |  | $ | — |  |  | $ | 473 |  |  | $ | 457,026 |
Significant Non-Cash Item: Impairment of Assets | $ | 473,054 |  |  | $ | 46,075 |  |  | $ | — |  |  | $ | — |  |  | $ | 519,129 |  |  | $ | — |  |  | $ | — |  |  | $ | 519,129 |
Income Tax Expense (Benefit) | $ | (58,430) |  |  | $ | 26,045 |  |  | $ | 38,217 |  |  | $ | 3,951 |  |  | $ | 9,783 |  |  | $ | (186) |  |  | $ | 145 |  |  | $ | 9,742 |
Segment Profit: Net Income (Loss) | $ | (163,954) |  |  | $ | 79,670 |  |  | $ | 106,913 |  |  | $ | 57,089 |  |  | $ | 79,718 |  |  | $ | (617) |  |  | $ | (1,588) |  |  | $ | 77,513 |
Expenditures for Additions to Long-Lived Assets | $ | 536,349 |  |  | $ | 110,830 |  |  | $ | 109,251 |  |  | $ | 184,615 |  |  | $ | 941,045 |  |  | $ | — |  |  | $ | 970 |  |  | $ | 942,015 |
| At September 30, 2024
| (Thousands)
Segment Assets | $ | 2,644,820 |  |  | $ | 2,446,243 |  |  | $ | 987,103 |  |  | $ | 2,398,709 |  |  | $ | 8,476,875 |  |  | $ | 6,227 |  |  | $ | (163,332) |  |  | $ | 8,319,770 |
| Year Ended September 30, 2023
| Exploration and Production |  | Pipeline and Storage |  | Gathering |  | Utility |  | Total Reportable Segments |  | All Other |  | Corporate and Intersegment Elimination |  | Total Consolidated
| (Thousands)
Revenue from External Customers(1)(2) | $ | 958,455 |  |  | $ | 259,646 |  |  | $ | 13,891 |  |  | $ | 941,779 |  |  | $ | 2,173,771 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,173,771 |
Intersegment Revenues | $ | — |  |  | $ | 119,545 |  |  | $ | 216,426 |  |  | $ | 581 |  |  | $ | 336,552 |  |  | $ | — |  |  | $ | (336,552) |  |  | $ | — |
Interest Income | $ | 3,259 |  |  | $ | 7,052 |  |  | $ | 534 |  |  | $ | 6,296 |  |  | $ | 17,141 |  |  | $ | — |  |  | $ | (5,662) |  |  | $ | 11,479 |
Interest Expense | $ | 54,317 |  |  | $ | 43,499 |  |  | $ | 14,989 |  |  | $ | 34,233 |  |  | $ | 147,038 |  |  | $ | 157 |  |  | $ | (15,309) |  |  | $ | 131,886 |
Depreciation, Depletion and Amortization | $ | 241,142 |  |  | $ | 70,827 |  |  | $ | 35,725 |  |  | $ | 61,450 |  |  | $ | 409,144 |  |  | $ | — |  |  | $ | 429 |  |  | $ | 409,573 |
Income Tax Expense (Benefit) | $ | 87,796 |  |  | $ | 34,489 |  |  | $ | 36,128 |  |  | $ | 7,267 |  |  | $ | 165,680 |  |  | $ | (164) |  |  | $ | (983) |  |  | $ | 164,533 |
Segment Profit: Net Income (Loss) | $ | 232,275 |  |  | $ | 100,501 |  |  | $ | 99,724 |  |  | $ | 48,395 |  |  | $ | 480,895 |  |  | $ | (531) |  |  | $ | (3,498) |  |  | $ | 476,866 |
Expenditures for Additions to Long-Lived Assets | $ | 737,725 |  |  | $ | 141,877 |  |  | $ | 103,295 |  |  | $ | 139,922 |  |  | $ | 1,122,819 |  |  | $ | — |  |  | $ | 754 |  |  | $ | 1,123,573 |
| At September 30, 2023
| (Thousands)
Segment Assets | $ | 2,814,218 |  |  | $ | 2,427,214 |  |  | $ | 912,923 |  |  | $ | 2,247,743 |  |  | $ | 8,402,098 |  |  | $ | 4,795 |  |  | $ | (126,633) |  |  | $ | 8,280,260 |
| Year Ended September 30, 2022
| Exploration and Production |  | Pipeline and Storage |  | Gathering |  | Utility |  | Total Reportable Segments |  | All Other |  | Corporate and Intersegment Eliminations |  | Total Consolidated
| (Thousands)
Revenue from External Customers(1)(3) | $ | 1,010,464 |  |  | $ | 265,415 |  |  | $ | 12,086 |  |  | $ | 897,916 |  |  | $ | 2,185,881 |  |  | $ | — |  |  | $ | 165 |  |  | $ | 2,186,046 |
Intersegment Revenues | $ | — |  |  | $ | 111,629 |  |  | $ | 202,757 |  |  | $ | 305 |  |  | $ | 314,691 |  |  | $ | 6 |  |  | $ | (314,697) |  |  | $ | — |
Interest Income | $ | 1,929 |  |  | $ | 2,275 |  |  | $ | 198 |  |  | $ | 2,730 |  |  | $ | 7,132 |  |  | $ | 3 |  |  | $ | (1,024) |  |  | $ | 6,111 |
Interest Expense | $ | 53,401 |  |  | $ | 42,492 |  |  | $ | 16,488 |  |  | $ | 24,115 |  |  | $ | 136,496 |  |  | $ | 4 |  |  | $ | (6,143) |  |  | $ | 130,357 |
Depreciation, Depletion and Amortization | $ | 208,148 |  |  | $ | 67,701 |  |  | $ | 33,998 |  |  | $ | 59,760 |  |  | $ | 369,607 |  |  | $ | — |  |  | $ | 183 |  |  | $ | 369,790 |
Income Tax Expense (Benefit) | $ | 43,898 |  |  | $ | 35,043 |  |  | $ | 24,949 |  |  | $ | 17,165 |  |  | $ | 121,055 |  |  | $ | 3 |  |  | $ | (4,429) |  |  | $ | 116,629 |
Significant Item: Gain on Sale of Assets | $ | 12,736 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 12,736 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,736 |
Segment Profit: Net Income (Loss) | $ | 306,064 |  |  | $ | 102,557 |  |  | $ | 101,111 |  |  | $ | 68,948 |  |  | $ | 578,680 |  |  | $ | (9) |  |  | $ | (12,650) |  |  | $ | 566,021 |
Expenditures for Additions to Long-Lived Assets | $ | 565,791 |  |  | $ | 95,806 |  |  | $ | 55,546 |  |  | $ | 111,033 |  |  | $ | 828,176 |  |  | $ | — |  |  | $ | 1,212 |  |  | $ | 829,388 |
| At September 30, 2022
| (Thousands)
Segment Assets | $ | 2,507,541 |  |  | $ | 2,394,697 |  |  | $ | 878,796 |  |  | $ | 2,299,473 |  |  | $ | 8,080,507 |  |  | $ | 2,036 |  |  | $ | (186,281) |  |  | $ | 7,896,262 |
(1)All Revenue from External Customers originated in the United States. (2)Revenue from one customer of the Company’s Exploration and Production segment, exclusive of hedging losses transacted with separate parties, represented approximately $208 million of the Company’s consolidated revenue for the year ended September 30, 2023. This one customer was also a customer of the Company’s Pipeline and Storage segment, accounting for an additional $14 million of the Company’s consolidated revenue for the year ended September 30, 2023. (3)Revenues from three customers of the Company’s Exploration and Production segment, exclusive of hedging losses transacted with separate parties, represented approximately $850 million of the Company’s consolidated revenue for the year ended September 30, 2022. These three customers were also customers of the Company’s Pipeline and Storage segment, accounting for an additional $15 million of the Company’s consolidated revenue for the year ended September 30, 2022.
Geographic Information | At September 30
| 2024 |  | 2023 |  | 2022
| (Thousands)
Long-Lived Assets: |  |  |  |  |
United States | $ | 7,963,851 |  |  | $ | 7,865,832 |  |  | $ | 7,135,131 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration