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SEGMENT INFORMATION | 6 Months Ended
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Feb. 28, 2023
SEGMENT INFORMATION |
SEGMENT INFORMATION | NOTE 12 – SEGMENT INFORMATION The Company reports two operating segments which meet segment disclosure requirements, the water and wastewater resource development segment and the land development segment. The single-family rentals, although not currently material to operations and not a required segment disclosure, is presented within the operating segment information below for informational purposes. The water and wastewater resource development segment includes providing water and wastewater services to customers, which water is provided by the Company using water rights owned or controlled by the Company, and developing, operating, and maintaining infrastructure to divert, treat and distribute that water and collect, treat and reuse reclaimed wastewater. The land development segment includes all activities necessary to develop and sell finished lots, which for the three and six months ended February 28, 2023 and 2022, was done exclusively at the Company’s Sky Ranch Master Planned Community. The single-family rental business includes the monthly rental fees received from the renters under the non-cancellable annual leases. The tables below present the measure of profit and assets used to assess the performance of the two required segments and the single-family rentals that the Company believes will become a segment for the periods presented:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended February 28, 2023
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue |  | $ | 1,445 |  | $ | 1,514 | ​ | $ | 31 |  | $ | 2,990
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 659 | ​ |  | 262 | ​ |  | 19 | ​ |  | 940
Depreciation and depletion | ​ |  | 461 | ​ |  | — | ​ |  | — | ​ |  | 461
Total cost of revenue | ​ |  | 1,120 | ​ |  | 262 | ​ |  | 19 | ​ |  | 1,401
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment profit | ​ | $ | 325 | ​ | $ | 1,252 | ​ | $ | 12 | ​ | $ | 1,589
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended February 28, 2022
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue | ​ | $ | 2,809 | ​ | $ | 1,829 | ​ | $ | 26 | ​ | $ | 4,664
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 810 | ​ |  | 341 | ​ |  | 4 | ​ |  | 1,155
Depreciation and depletion | ​ |  | 352 | ​ |  | — | ​ |  | — | ​ |  | 352
Total cost of revenue | ​ |  | 1,162 | ​ |  | 341 | ​ |  | 4 | ​ |  | 1,507
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment profit | ​ | $ | 1,647 | ​ | $ | 1,488 | ​ | $ | 22 | ​ | $ | 3,157
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended February 28, 2023
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue |  | $ | 2,239 |  | $ | 2,035 | ​ | $ | 56 |  | $ | 4,330
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 1,382 | ​ |  | 477 | ​ |  | 29 | ​ |  | 1,888
Depreciation and depletion | ​ |  | 839 | ​ |  | — | ​ |  | — | ​ |  | 839
Total cost of revenue | ​ |  | 2,221 | ​ |  | 477 | ​ |  | 29 | ​ |  | 2,727
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment (loss) profit | ​ | $ | 18 | ​ | $ | 1,558 | ​ | $ | 27 | ​ | $ | 1,603
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended February 28, 2022
(In thousands) |  | Water and wastewater resource development |  | Land development | ​ | Single-family rental |  | Total
Total revenue | ​ | $ | 3,880 | ​ | $ | 5,022 | ​ | $ | 34 | ​ | $ | 8,936
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue | ​ |  | 1,306 | ​ |  | 872 | ​ |  | 7 | ​ |  | 2,185
Depreciation and depletion | ​ |  | 706 | ​ |  | — | ​ |  | — | ​ |  | 706
Total cost of revenue | ​ |  | 2,012 | ​ |  | 872 | ​ |  | 7 | ​ |  | 2,891
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment profit | ​ | $ | 1,868 | ​ | $ | 4,150 | ​ | $ | 27 | ​ | $ | 6,045
​ The following table summarizes the Company’s total assets by segment. The assets consist of water rights and water and wastewater systems in the Company’s water and wastewater resource development segment; land, land development costs and deposits in the Company’s land development segment; and the cost of the homes in the single-family rental line. The Company’s other assets (Corporate) primarily consist of cash, cash equivalents, restricted cash, equipment, and related party notes receivables. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) |  | February 28, 2023 |  | August 31, 2022
Water and wastewater resource development | ​ | $ | 63,349 | ​ | $ | 63,064
Land development | ​ | ​ | 30,276 | ​ | ​ | 25,522
Single-family rental | ​ | ​ | 3,688 | ​ | ​ | 1,715
Corporate | ​ | ​ | 28,101 | ​ | ​ | 38,928
Total assets | ​ | $ | 125,414 | ​ | $ | 129,229
​

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- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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