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Note 15 - Segment Information | 6 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
15. | Segment Information
Operating segments are defined as components of an enterprise for which separate financial information is available and is evaluated regularly by the Company's chief operating decision maker in deciding how to allocate resources and assess performance. The Company uses operating income and equity in earnings to assess segment performance. Intersegment transactions are recorded at cost. The reportable segments disclosed herein are defined as follows: Gas Utility - The natural gas segment of the Company generates revenue from its tariff rates and other regulatory mechanisms through which it provides the sale and distribution of natural gas to its residential, commercial and industrial customers. Investment in Affiliates - The investment in affiliates segment reflects the income generated through the activities of the Company's investment in the LLC. Parent and Other - The category parent and other includes the unregulated activities of the Company as well as certain corporate eliminations. Information related to the segments of the Company are provided below:
|  | Three Months Ended March 31, 2022 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 29,499,219 |  |  | $ | — |  |  | $ | 30,464 |  |  | $ | 29,529,683 |
Depreciation |  |  | 2,268,704 |  |  |  | — |  |  |  | — |  |  |  | 2,268,704 |
Operating income (loss) |  |  | 7,528,839 |  |  |  | (108,987 | ) |  |  | 23,536 |  |  |  | 7,443,388 |
Equity in earnings (loss) |  |  | — |  |  |  | (445 | ) |  |  | — |  |  |  | (445 | )
Impairment of investments in affiliates |  |  | — |  |  |  | (39,822,213 | ) |  |  | — |  |  |  | (39,822,213 | )
Interest expense |  |  | 751,038 |  |  |  | 352,806 |  |  |  | — |  |  |  | 1,103,844 |
Income (loss) before income taxes |  |  | 7,117,202 |  |  |  | (40,279,495 | ) |  |  | 23,689 |  |  |  | (33,138,604 | )
|  | Three Months Ended March 31, 2021 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 28,221,274 |  |  | $ | — |  |  | $ | 32,388 |  |  | $ | 28,253,662 |
Depreciation |  |  | 2,128,304 |  |  |  | — |  |  |  | — |  |  |  | 2,128,304 |
Operating income (loss) |  |  | 7,175,532 |  |  |  | (102,295 | ) |  |  | 26,189 |  |  |  | 7,099,426 |
Equity in earnings (loss) |  |  | — |  |  |  | (3,797 | ) |  |  | — |  |  |  | (3,797 | )
Interest expense |  |  | 707,532 |  |  |  | 300,232 |  |  |  | — |  |  |  | 1,007,764 |
Income (loss) before income taxes |  |  | 6,750,004 |  |  |  | (400,880 | ) |  |  | 26,289 |  |  |  | 6,375,413 |
|  | Six Months Ended March 31, 2022 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 52,730,874 |  |  | $ | — |  |  | $ | 61,889 |  |  | $ | 52,792,763 |
Depreciation |  |  | 4,539,398 |  |  |  | — |  |  |  | — |  |  |  | 4,539,398 |
Operating income (loss) |  |  | 12,933,155 |  |  |  | (160,547 | ) |  |  | 49,203 |  |  |  | 12,821,811 |
Equity in earnings |  |  | — |  |  |  | 71,682 |  |  |  | — |  |  |  | 71,682 |
Impairment of investments in affiliates |  |  | — |  |  |  | (39,822,213 | ) |  |  | — |  |  |  | (39,822,213 | )
Interest expense |  |  | 1,515,901 |  |  |  | 692,799 |  |  |  | — |  |  |  | 2,208,700 |
Income (loss) before income taxes |  |  | 12,076,384 |  |  |  | (40,596,376 | ) |  |  | 49,521 |  |  |  | (28,470,471 | )
|  | Six Months Ended March 31, 2021 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 47,704,774 |  |  | $ | — |  |  | $ | 65,905 |  |  | $ | 47,770,679 |
Depreciation |  |  | 4,281,702 |  |  |  | — |  |  |  | — |  |  |  | 4,281,702 |
Operating income (loss) |  |  | 12,788,574 |  |  |  | (153,142 | ) |  |  | 45,381 |  |  |  | 12,680,813 |
Equity in earnings |  |  | — |  |  |  | 1,352,886 |  |  |  | — |  |  |  | 1,352,886 |
Interest expense |  |  | 1,411,862 |  |  |  | 615,731 |  |  |  | — |  |  |  | 2,027,593 |
Income before income taxes |  |  | 11,986,004 |  |  |  | 592,045 |  |  |  | 45,631 |  |  |  | 12,623,680 |
|  | March 31, 2022 |
|  | Gas Utility |  |  | Investment in Affiliates(1) |  |  | Parent and Other |  |  | Consolidated Total |
Total assets |  | $ | 240,934,602 |  |  | $ | 27,465,020 |  |  | $ | 19,958,863 |  |  | $ | 288,358,485 |
(1) Decrease in total assets resulted from the MVP and Southgate impairment. See Note 6 for additional information.
|  | September 30, 2021 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Total assets |  | $ | 231,737,427 |  |  | $ | 65,686,376 |  |  | $ | 12,685,390 |  |  | $ | 310,109,193 |

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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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