XML 30 R12.htm IDEA: XBRL DOCUMENT v3.23.3
Note 4 - Segment Information
 12 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

4.

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 executive management 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 distribution segment of the Company generates revenue from its tariff rates and other regulatory mechanisms through which it provides for 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 MVP and Southgate projects.

 

Parent and Other - Parent and other include the unregulated activities of the Company as well as certain corporate reporting adjustments.

 

Information related to the segments of the Company are provided below:

 

  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

For the Year Ended September 30, 2023:

                

Operating revenues

 $97,325,307  $—  $114,458  $97,439,765 

Depreciation

  9,764,678   —   —   9,764,678 

Operating income (loss)

  17,827,485   (233,067)  84,062   17,678,480 

Equity in earnings

  —   2,084,990   —   2,084,990 

Interest expense

  3,216,220   2,402,585   —   5,618,805 

Income (loss) before income taxes

  15,260,605   (553,378)  83,966   14,791,193 
                 

As of September 30, 2023:

                

Total assets

 $268,664,460  $17,882,108  $17,182,772  $303,729,340 

Gross additions to utility property

  25,306,524   —   —   25,306,524 

Gross investment in affiliates

  —   2,133,534   —   2,133,534 

 

  

Gas Utility

  

Investment in Affiliates

  

Parent and Other

  

Consolidated Total

 

For the Year Ended September 30, 2022:

                

Operating revenues

 $84,035,644  $—  $129,578  $84,165,222 

Depreciation

  8,948,923   —   —   8,948,923 

Operating income (loss)

  15,104,946   (281,843)  93,572   14,916,675 

Equity in earnings

  —   73,327   —   73,327 

Impairment of investments in affiliates

  —   (55,092,303)  —   (55,092,303)

Interest expense

  3,001,926   1,496,003   —   4,497,929 

Income (loss) before income taxes

  13,547,601   (56,784,957)  94,109   (43,143,247)
                 

As of September 30, 2022:

                

Total assets

 $258,519,230  $13,838,108  $17,951,905  $290,309,243 

Gross additions to utility property

  25,461,000   —   —   25,461,000 

Gross investment in affiliates

  —   5,260,863   —   5,260,863