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BUSINESS SEGMENT AND OTHER OPERATIONS DATA (Tables) | 12 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Schedule of Business Segments and Other Operations | Information related to the Company’s various reporting segments and other operations is detailed below:
(Thousands) |  |  |
Fiscal Years Ended September 30, | 2018 | 2017 | 2016
Operating revenues |  |  |
Natural Gas Distribution |  |  |
External customers | $ | 731,865 |  | $ | 695,637 |  | $ | 594,346 |
Clean Energy Ventures |  |  |
External customers | 71,375 |  | 64,394 |  | 53,540 |
Energy Services |  |  |
External customers (1) | 2,064,477 |  | 1,462,365 |  | 1,187,754 |
Intercompany | 48,327 |  | 316 |  | 9,499 |
Subtotal | 2,916,044 |  | 2,222,712 |  | 1,845,139 |
Home Services and Other |  |  |
External customers | 47,392 |  | 46,221 |  | 45,265 |
Intercompany | 2,665 |  | 3,370 |  | 3,232 |
Eliminations | (50,992 | ) | (3,686 | ) | (12,731 | )
Total | $ | 2,915,109 |  | $ | 2,268,617 |  | $ | 1,880,905 |
Depreciation and amortization |  |  |
Natural Gas Distribution | $ | 53,208 |  | $ | 49,347 |  | $ | 47,828 |
Clean Energy Ventures | 31,877 |  | 31,834 |  | 23,971 |
Energy Services (2) | 76 |  | 63 |  | 88 |
Midstream | 6 |  | 6 |  | 6 |
Subtotal | 85,167 |  | 81,250 |  | 71,893 |
Home Services and Other | 780 |  | 798 |  | 981 |
Eliminations | (246 | ) | (207 | ) | (126 | )
Total | $ | 85,701 |  | $ | 81,841 |  | $ | 72,748 |
Interest income (3) |  |  |
Natural Gas Distribution | $ | 614 |  | $ | 555 |  | $ | 115 |
Energy Services | 240 |  | 6 |  | 98 |
Midstream | 3,374 |  | 2,195 |  | 1,524 |
Subtotal | 4,228 |  | 2,756 |  | 1,737 |
Home Services and Other | 1,476 |  | 590 |  | 397 |
Eliminations | (5,090 | ) | (1,312 | ) | (2,006 | )
Total | $ | 614 |  | $ | 2,034 |  | $ | 128 |
(1) | Includes sales to Canada, which are immaterial.
(2) | The amortization of acquired wholesale energy contracts is excluded above and is included in gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.
(3) | Included in other income, net on the Consolidated Statements of Operations.
(Thousands) |  |  |
Fiscal Years Ended September 30, | 2018 | 2017 | 2016
Interest expense, net of capitalized interest |  |  |
Natural Gas Distribution | $ | 25,299 |  | $ | 25,818 |  | $ | 19,930 |
Clean Energy Ventures | 18,320 |  | 16,263 |  | 10,304 |
Energy Services | 3,945 |  | 2,747 |  | 1,095 |
Midstream | 1,667 |  | 960 |  | 287 |
Subtotal | 49,231 |  | 45,788 |  | 31,616 |
Home Services and Other | 7 |  | 410 |  | 252 |
Eliminations | (2,952 | ) | (1,312 | ) | (824 | )
Total | $ | 46,286 |  | $ | 44,886 |  | $ | 31,044 |
Income tax (benefit) provision |  |  |
Natural Gas Distribution | $ | (1,910 | ) | $ | 43,485 |  | $ | 34,951 |
Clean Energy Ventures | (79,932 | ) | (31,161 | ) | (26,592 | )
Energy Services | 24,996 |  | (4,015 | ) | 7,030 |
Midstream | (8,548 | ) | 5,820 |  | 6,130 |
Subtotal | (65,394 | ) | 14,129 |  | 21,519 |
Home Services and Other | 11,944 |  | 3,857 |  | 1,387 |
Eliminations | (335 | ) | 357 |  | 624 |
Total | $ | (53,785 | ) | $ | 18,343 |  | $ | 23,530 |
Equity in earnings of affiliates |  |  |
Midstream | $ | 16,165 |  | $ | 17,797 |  | $ | 13,936 |
Eliminations | (3,157 | ) | (3,984 | ) | (4,421 | )
Total | $ | 13,008 |  | $ | 13,813 |  | $ | 9,515 |
Net financial earnings (loss) |  |  |
Natural Gas Distribution | $ | 84,048 |  | $ | 86,930 |  | $ | 76,104 |
Clean Energy Ventures | 75,849 |  | 24,873 |  | 28,393 |
Energy Services | 60,378 |  | 18,554 |  | 21,934 |
Midstream | 24,367 |  | 12,857 |  | 9,406 |
Subtotal | 244,642 |  | 143,214 |  | 135,837 |
Home Services and Other | (3,829 | ) | 6,811 |  | 2,882 |
Eliminations | (327 | ) | (633 | ) | (634 | )
Total | $ | 240,486 |  | $ | 149,392 |  | $ | 138,085 |
Capital expenditures |  |  |
Natural Gas Distribution | $ | 254,523 |  | $ | 176,249 |  | $ | 205,133 |
Clean Energy Ventures | 123,421 |  | 149,400 |  | 149,063 |
Midstream | 5,431 |  | — |  | — |
Subtotal | 383,375 |  | 325,649 |  | 354,196 |
Home Services and Other | 1,213 |  | 2,434 |  | 1,896 |
Total | $ | 384,588 |  | $ | 328,083 |  | $ | 356,092 |
Investments in equity investees |  |  |
Midstream | 16,151 |  | 27,070 |  | 11,176 |
Total | $ | 16,151 |  | $ | 27,070 |  | $ | 11,176 |
Reconciliation of Consolidated NFE to Consolidated Net Income | A reconciliation of consolidated NFE to consolidated net income is as follows:
(Thousands) | 2018 | 2017 | 2016
Consolidated net financial earnings | $ | 240,486 |  | $ | 149,392 |  | $ | 138,085 |
Less: |  |  |
Unrealized loss (gain) on derivative instruments and related transactions | 26,770 |  | (11,241 | ) | 46,883 |
Tax effect | (4,512 | ) | 4,062 |  | (17,018 | )
Effects of economic hedging related to natural gas inventory | (22,570 | ) | 38,470 |  | (36,816 | )
Tax effect | 7,362 |  | (13,964 | ) | 13,364 |
Consolidated net income | $ | 233,436 |  | $ | 132,065 |  | $ | 131,672 |
Schedule of Assets for Business Segments and Business Operations | The Company’s assets for the various reporting segments and business operations are detailed below:
(Thousands) | 2018 | 2017 | 2016
Assets at end of period: |  |  |
Natural Gas Distribution | $ | 2,663,054 |  | $ | 2,519,578 |  | $ | 2,517,401 |
Clean Energy Ventures (1) | 865,018 |  | 771,340 |  | 665,696 |
Energy Services | 396,852 |  | 398,277 |  | 327,626 |
Midstream | 242,069 |  | 232,806 |  | 186,259 |
Subtotal | 4,166,993 |  | 3,922,001 |  | 3,696,982 |
Home Services and Other | 114,732 |  | 114,801 |  | 109,487 |
Intercompany assets (2) | (138,061 | ) | (108,295 | ) | (87,899 | )
Total | $ | 4,143,664 |  | $ | 3,928,507 |  | $ | 3,718,570 |
(1) | Includes assets held for sale of $206.9 million for September 30, 2018.
(2) | Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

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