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REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables) | 12 Months Ended
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Sep. 30, 2020
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, | 2020 | 2019 | 2018
Operating revenues |  |  |
Natural Gas Distribution |  |  |
External customers | $ | 729,923 |  | $ | 710,793 |  | $ | 731,865 |
Clean Energy Ventures |  |  |
External customers | 102,617 |  | 98,099 |  | 71,375 |
Energy Services |  |  |
External customers (1) | 1,029,303 |  | 1,734,553 |  | 2,064,477 |
Intercompany | 1,116 |  | 8,238 |  | 48,327 |
Storage and Transportation |  |  |
External customers (1) | 42,015 |  | — |  | — |
Intercompany | 2,713 |  | — |  | — |
Subtotal | 1,907,687 |  | 2,551,683 |  | 2,916,044 |
Home Services and Other |  |  |
External customers | 49,810 |  | 48,600 |  | 47,392 |
Intercompany | 1,207 |  | 2,302 |  | 2,665 |
Eliminations | (5,036) |  | (10,540) |  | (50,992) |
Total | $ | 1,953,668 |  | $ | 2,592,045 |  | $ | 2,915,109 |
Depreciation and amortization |  |  |
Natural Gas Distribution | $ | 71,883 |  | $ | 57,980 |  | $ | 53,208 |
Clean Energy Ventures | 25,329 |  | 22,376 |  | 22,747 |
Energy Services (2) | 123 |  | 118 |  | 76 |
Storage and Transportation | 9,293 |  | 6 |  | 6 |
Subtotal | 106,628 |  | 80,480 |  | 76,037 |
Home Services and Other | 1,032 |  | 914 |  | 780 |
Eliminations | (292) |  | (285) |  | (246) |
Total | $ | 107,368 |  | $ | 81,109 |  | $ | 76,571 |
Interest income (3) |  |  |
Natural Gas Distribution | $ | 538 |  | $ | 994 |  | $ | 614 |
Clean Energy Ventures | 240 |  | — |  | — |
Energy Services | 99 |  | 78 |  | 240 |
Storage and Transportation | 3,510 |  | 4,000 |  | 3,374 |
Subtotal | 4,387 |  | 5,072 |  | 4,228 |
Home Services and Other | 8,633 |  | 1,942 |  | 1,476 |
Eliminations | (10,061) |  | (5,391) |  | (5,090) |
Total | $ | 2,959 |  | $ | 1,623 |  | $ | 614 |
(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 natural gas purchases - nonutility on the Consolidated Statements of Operations. (3)Included in other income, net on the Consolidated Statements of Operations.
(Thousands) |  |  |
Fiscal Years Ended September 30, | 2020 | 2019 | 2018
Interest expense, net of capitalized interest |  |  |
Natural Gas Distribution | $ | 30,975 |  | $ | 26,134 |  | $ | 25,299 |
Clean Energy Ventures | 20,253 |  | 14,846 |  | 18,320 |
Energy Services | 3,276 |  | 5,205 |  | 3,945 |
Storage and Transportation | 13,124 |  | 2,185 |  | 1,667 |
Subtotal | 67,628 |  | 48,370 |  | 49,231 |
Home Services and Other | 10,327 |  | 1,535 |  | 7 |
Eliminations | (10,358) |  | (2,823) |  | (2,952) |
Total | $ | 67,597 |  | $ | 47,082 |  | $ | 46,286 |
Income tax provision (benefit) |  |  |
Natural Gas Distribution | $ | 27,021 |  | $ | 9,434 |  | $ | (1,910) |
Clean Energy Ventures | 11,034 |  | 7,270 |  | (68,379) |
Energy Services | (3,615) |  | (1,573) |  | 24,996 |
Storage and Transportation | 4,247 |  | 2,254 |  | (8,548) |
Subtotal | 38,687 |  | 17,385 |  | (53,841) |
Home Services and Other | (2,478) |  | 1,428 |  | 11,944 |
Eliminations | 285 |  | (373) |  | (335) |
Total | $ | 36,494 |  | $ | 18,440 |  | $ | (42,232) |
Equity in earnings of affiliates |  |  |
Storage and Transportation | $ | 15,903 |  | $ | 15,832 |  | $ | 16,165 |
Eliminations | (1,592) |  | (2,204) |  | (3,157) |
Total | $ | 14,311 |  | $ | 13,628 |  | $ | 13,008 |
Net financial earnings (loss) |  |  |
Natural Gas Distribution | $ | 126,902 |  | $ | 78,062 |  | $ | 84,048 |
Clean Energy Ventures | 22,111 |  | 31,903 |  | 73,426 |
Energy Services | (7,873) |  | 2,918 |  | 60,378 |
Storage and Transportation | 18,311 |  | 14,689 |  | 24,367 |
Subtotal | 159,451 |  | 127,572 |  | 242,219 |
Home Services and Other | 5,784 |  | 1,911 |  | (3,829) |
Eliminations | 98 |  | (93) |  | (327) |
Total | $ | 165,333 |  | $ | 129,390 |  | $ | 238,063 |
Capital expenditures |  |  |
Natural Gas Distribution | $ | 290,040 |  | $ | 345,004 |  | $ | 254,523 |
Clean Energy Ventures | 133,841 |  | 157,828 |  | 123,421 |
Storage and Transportation | 20,998 |  | 20,616 |  | 5,431 |
Subtotal | 444,879 |  | 523,448 |  | 383,375 |
Home Services and Other | 3,230 |  | 2,484 |  | 1,213 |
Total | $ | 448,109 |  | $ | 525,932 |  | $ | 384,588 |
Investments in equity investees |  |  |
Storage and Transportation | $ | 2,117 |  | $ | 4,102 |  | $ | 16,151 |
Total | $ | 2,117 |  | $ | 4,102 |  | $ | 16,151 |
Reconciliation of Consolidated NFE to Consolidated Net Income | A reconciliation of consolidated NFE to consolidated net income is as follows:
(Thousands) | 2020 | 2019 | 2018
Consolidated net financial earnings | $ | 165,333 |  | $ | 129,390 |  | $ | 238,063 |
Less: |  |  |
Unrealized (gain) loss on derivative instruments and related transactions | (9,644) |  | 2,881 |  | 26,770 |
Tax effect | 2,296 |  | (711) |  | (4,512) |
Effects of economic hedging related to natural gas inventory | 12,690 |  | 4,309 |  | (22,570) |
Tax effect | (3,016) |  | (1,024) |  | 7,362 |
Consolidated net income | $ | 163,007 |  | $ | 123,935 |  | $ | 231,013 |
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) | 2020 | 2019 | 2018
Assets at end of period: |  |  |
Natural Gas Distribution | $ | 3,531,477 |  | $ | 3,064,309 |  | $ | 2,663,054 |
Clean Energy Ventures (1) | 814,277 |  | 694,439 |  | 740,704 |
Energy Services | 244,836 |  | 290,847 |  | 396,852 |
Storage and Transportation | 844,799 |  | 240,955 |  | 242,069 |
Subtotal | 5,435,389 |  | 4,290,550 |  | 4,042,679 |
Home Services and Other | 138,375 |  | 104,411 |  | 114,732 |
Intercompany assets (2) | (257,287) |  | (237,019) |  | (171,107) |
Total | $ | 5,316,477 |  | $ | 4,157,942 |  | $ | 3,986,304 |
(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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