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Note 3 - Segment Information | 6 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
3. | Segment Information
Operating segments are defined as components of an enterprise for which separate financial information is available and 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 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 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 Company's segments are provided below:
|  | Three Months Ended March 31, 2024 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 32,632,331 |  |  | $ | — |  |  | $ | 27,045 |  |  | $ | 32,659,376 |
Depreciation |  |  | 2,697,707 |  |  |  | — |  |  |  | — |  |  |  | 2,697,707 |
Operating income (loss) |  |  | 8,666,010 |  |  |  | (55,285 | ) |  |  | 18,984 |  |  |  | 8,629,709 |
Equity in earnings |  |  | — |  |  |  | 1,229,384 |  |  |  | — |  |  |  | 1,229,384 |
Interest expense |  |  | 911,804 |  |  |  | 654,809 |  |  |  | — |  |  |  | 1,566,613 |
Income before income taxes |  |  | 7,844,299 |  |  |  | 518,705 |  |  |  | 18,963 |  |  |  | 8,381,967 |
|  | Three Months Ended March 31, 2023 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 38,000,977 |  |  | $ | — |  |  | $ | 28,680 |  |  | $ | 38,029,657 |
Depreciation |  |  | 2,419,541 |  |  |  | — |  |  |  | — |  |  |  | 2,419,541 |
Operating income (loss) |  |  | 9,627,320 |  |  |  | (58,747 | ) |  |  | 22,849 |  |  |  | 9,591,422 |
Equity in earnings |  |  | — |  |  |  | 2,867 |  |  |  | — |  |  |  | 2,867 |
Interest expense |  |  | 810,346 |  |  |  | 585,516 |  |  |  | — |  |  |  | 1,395,862 |
Income (loss) before income taxes |  |  | 8,939,360 |  |  |  | (641,933 | ) |  |  | 22,824 |  |  |  | 8,320,251 |
|  | Six Months Ended March 31, 2024 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 57,024,185 |  |  | $ | — |  |  | $ | 54,543 |  |  | $ | 57,078,728 |
Depreciation |  |  | 5,395,414 |  |  |  | — |  |  |  | — |  |  |  | 5,395,414 |
Operating income (loss) |  |  | 15,310,308 |  |  |  | (68,688 | ) |  |  | 40,126 |  |  |  | 15,281,746 |
Equity in earnings |  |  | — |  |  |  | 2,697,219 |  |  |  | — |  |  |  | 2,697,219 |
Interest expense |  |  | 1,880,741 |  |  |  | 1,322,145 |  |  |  | — |  |  |  | 3,202,886 |
Income before income taxes |  |  | 13,640,033 |  |  |  | 1,306,239 |  |  |  | 40,080 |  |  |  | 14,986,352 |
|  | Six Months Ended March 31, 2023 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Operating revenues |  | $ | 71,253,744 |  |  | $ | — |  |  | $ | 58,248 |  |  | $ | 71,311,992 |
Depreciation |  |  | 4,839,082 |  |  |  | — |  |  |  | — |  |  |  | 4,839,082 |
Operating income (loss) |  |  | 15,194,665 |  |  |  | (105,451 | ) |  |  | 46,693 |  |  |  | 15,135,907 |
Equity in earnings |  |  | — |  |  |  | 4,099 |  |  |  | — |  |  |  | 4,099 |
Interest expense |  |  | 1,632,912 |  |  |  | 1,132,114 |  |  |  | — |  |  |  | 2,765,026 |
Income (loss) before income taxes |  |  | 13,759,315 |  |  |  | (1,234,548 | ) |  |  | 46,643 |  |  |  | 12,571,410 |
|  | March 31, 2024 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Total assets |  | $ | 271,487,651 |  |  | $ | 20,181,544 |  |  | $ | 21,690,335 |  |  | $ | 313,359,530 |
|  | September 30, 2023 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Parent and Other |  |  | Consolidated Total |
Total assets |  | $ | 268,664,460 |  |  | $ | 17,882,108 |  |  | $ | 17,182,772 |  |  | $ | 303,729,340 |

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