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REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables) | 6 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Information related to the Company's various reporting segments and other operations is detailed below:
| Three Months Ended | Six Months Ended
| March 31, | March 31,
(Thousands) | 2020 | 2019 | 2020 | 2019
Operating revenues |  |  |  |
Natural Gas Distribution |  |  |  |
External customers | $ | 297,220 |  | $ | 301,420 |  | $ | 516,843 |  | $ | 501,385 |
Clean Energy Ventures |  |  |  |
External customers | 5,995 |  | 11,360 |  | 12,207 |  | 26,257 |
Energy Services |  |  |  |
External customers (1) | 313,959 |  | 541,794 |  | 682,263 |  | 1,126,754 |
Intercompany | (258 | ) | 6,031 |  | 1,853 |  | 8,338 |
Midstream |  |  |  |
External customers | 10,401 |  | — |  | 18,806 |  | — |
Intercompany | 675 |  | — |  | 1,342 |  | — |
Subtotal | 627,992 |  | 860,605 |  | 1,233,314 |  | 1,662,734 |
Home Services and Other |  |  |  |
External customers | 12,039 |  | 11,681 |  | 24,531 |  | 23,626 |
Intercompany | 326 |  | 652 |  | 741 |  | 1,197 |
Eliminations | (743 | ) | (6,683 | ) | (3,936 | ) | (9,535 | )
Total | $ | 639,614 |  | $ | 866,255 |  | $ | 1,254,650 |  | $ | 1,678,022 |
Depreciation and amortization |  |  |  |
Natural Gas Distribution | $ | 18,100 |  | $ | 13,972 |  | $ | 34,917 |  | $ | 27,868 |
Clean Energy Ventures | 9,871 |  | 8,091 |  | 19,308 |  | 16,014 |
Energy Services (2) | 27 |  | 25 |  | 56 |  | 52 |
Midstream | 2,397 |  | 2 |  | 4,078 |  | 3 |
Subtotal | 30,395 |  | 22,090 |  | 58,359 |  | 43,937 |
Home Services and Other | 250 |  | 222 |  | 496 |  | 443 |
Eliminations | 139 |  | (1 | ) | (313 | ) | (237 | )
Total | $ | 30,784 |  | $ | 22,311 |  | $ | 58,542 |  | $ | 44,143 |
Interest income (3) |  |  |  |
Natural Gas Distribution | $ | 136 |  | $ | 181 |  | $ | 243 |  | $ | 380 |
Energy Services | 52 |  | 14 |  | 89 |  | 14 |
Midstream | 2,085 |  | 945 |  | 2,782 |  | 2,001 |
Subtotal | 2,273 |  | 1,140 |  | 3,114 |  | 2,395 |
Home Services and Other | 208 |  | 669 |  | 699 |  | 1,105 |
Eliminations | (760 | ) | (1,390 | ) | (1,906 | ) | (2,882 | )
Total | $ | 1,721 |  | $ | 419 |  | $ | 1,907 |  | $ | 618 |
(1) | Includes sales to Canada for the Energy Services segment, 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 Unaudited Condensed Consolidated Statements of Operations.
| Three Months Ended | Six Months Ended
| March 31, | March 31,
(Thousands) | 2020 | 2019 | 2020 | 2019
Interest expense, net of capitalized interest |  |  |  |
Natural Gas Distribution | $ | 7,473 |  | $ | 5,762 |  | $ | 15,305 |  | $ | 11,865 |
Clean Energy Ventures | 4,835 |  | 4,657 |  | 9,327 |  | 10,085 |
Energy Services | 937 |  | 1,624 |  | 2,163 |  | 3,511 |
Midstream | 5,621 |  | 565 |  | 8,443 |  | 1,108 |
Subtotal | 18,866 |  | 12,608 |  | 35,238 |  | 26,569 |
Home Services and Other | 565 |  | 611 |  | 837 |  | 1,003 |
Eliminations | (228 | ) | (710 | ) | (802 | ) | (1,577 | )
Total | $ | 19,203 |  | $ | 12,509 |  | $ | 35,273 |  | $ | 25,995 |
Income tax provision (benefit) |  |  |  |
Natural Gas Distribution | $ | 19,702 |  | $ | 12,266 |  | $ | 28,337 |  | $ | 18,096 |
Clean Energy Ventures | (22,061 | ) | (14,042 | ) | (42,625 | ) | (37,246 | )
Energy Services | (2,449 | ) | (1,388 | ) | 8,303 |  | 8,256 |
Midstream | 1,105 |  | 1,219 |  | 1,807 |  | 2,181 |
Subtotal | (3,703 | ) | (1,945 | ) | (4,178 | ) | (8,713 | )
Home Services and Other | 1,956 |  | (659 | ) | 2,175 |  | (851 | )
Eliminations | 104 |  | (348 | ) | 101 |  | (349 | )
Total | $ | (1,643 | ) | $ | (2,952 | ) | $ | (1,902 | ) | $ | (9,913 | )
Equity in earnings of affiliates |  |  |  |
Midstream | $ | 3,921 |  | $ | 3,998 |  | $ | 7,585 |  | $ | 7,799 |
Eliminations | (332 | ) | (627 | ) | (607 | ) | (1,267 | )
Total | $ | 3,589 |  | $ | 3,371 |  | $ | 6,978 |  | $ | 6,532 |
Net financial earnings (loss) |  |  |  |
Natural Gas Distribution | $ | 86,336 |  | $ | 68,546 |  | $ | 130,192 |  | $ | 100,259 |
Clean Energy Ventures | 15,990 |  | 21,730 |  | 11,074 |  | 31,935 |
Energy Services | 313 |  | 19,304 |  | (2,598 | ) | 27,674 |
Midstream | 4,258 |  | 4,498 |  | 7,262 |  | 8,149 |
Subtotal | 106,897 |  | 114,078 |  | 145,930 |  | 168,017 |
Home Services and Other | 148 |  | (1,581 | ) | 1,257 |  | (1,505 | )
Eliminations | (109 | ) | (80 | ) | 154 |  | (2 | )
Total | $ | 106,936 |  | $ | 112,417 |  | $ | 147,341 |  | $ | 166,510 |
Capital expenditures |  |  |  |
Natural Gas Distribution | $ | 72,042 |  | $ | 79,341 |  | $ | 149,839 |  | $ | 139,096 |
Clean Energy Ventures | 24,087 |  | 20,394 |  | 69,786 |  | 52,520 |
Midstream | 5,148 |  | (1,689 | ) | 7,709 |  | — |
Subtotal | 101,277 |  | 98,046 |  | 227,334 |  | 191,616 |
Home Services and Other | (111 | ) | 5,055 |  | 15 |  | 5,786 |
Total | $ | 101,166 |  | $ | 103,101 |  | $ | 227,349 |  | $ | 197,402 |
Investments in equity investees |  |  |  |
Midstream | $ | 757 |  | $ | 1,457 |  | $ | 1,266 |  | $ | 1,457 |
Total | $ | 757 |  | $ | 1,457 |  | $ | 1,266 |  | $ | 1,457 |
Reconciliation of Consolidated NFE to Consolidated Net Income | A reconciliation of consolidated NFE to consolidated net income is as follows:
| Three Months Ended | Six Months Ended
| March 31, | March 31,
(Thousands) | 2020 | 2019 | 2020 | 2019
Net financial earnings | $ | 106,936 |  | $ | 112,417 |  | $ | 147,341 |  | $ | 166,510 |
Less: |  |  |  |
Unrealized (gain) loss on derivative instruments and related transactions | (3,773 | ) | 10,226 |  | (45,539 | ) | (707 | )
Tax effect | 897 |  | (2,435 | ) | 10,828 |  | 149 |
Effects of economic hedging related to natural gas inventory | 14,622 |  | 22,367 |  | 5,735 |  | 756 |
Tax effect | (3,475 | ) | (5,316 | ) | (1,363 | ) | (180 | )
NFE tax adjustment | 10,160 |  | 14,002 |  | (186 | ) | 6,671 |
Net income | $ | 88,505 |  | $ | 73,573 |  | $ | 177,866 |  | $ | 159,821 |
Reconciliation of Assets from Segment to Consolidated | The Company's assets for the various business segments and business operations are detailed below:
(Thousands) | March 31, 2020 | September 30, 2019
Assets at end of period: |  |
Natural Gas Distribution | $ | 3,243,556 |  | $ | 3,064,309 |
Clean Energy Ventures | 969,545 |  | 864,323 |
Energy Services | 208,562 |  | 290,847 |
Midstream | 808,760 |  | 240,955 |
Subtotal | 5,230,423 |  | 4,460,434 |
Home Services and Other | 134,113 |  | 104,411 |
Intercompany assets (1) | (209,337 | ) | (191,860 | )
Total | $ | 5,155,199 |  | $ | 4,372,985 |
(1) Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

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