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Note 11 - Other Comprehensive Income (Loss)

6 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

11.

Other Comprehensive Income (Loss)

A summary of other comprehensive income and loss is provided below:

						Tax
		Before-Tax				(Expense)				Net-of-Tax
		Amount				or Benefit				Amount
Three Months Ended March 31, 2024
Interest rate swaps:
Unrealized gains		$	802,399			$	(206,537	)		$	595,862
Transfer of realized gains to interest expense			(533,706	)			137,376				(396,330	)
Net interest rate swaps			268,693				(69,161	)			199,532
Defined benefit plans:
Amortization of net actuarial losses			16,015				(4,122	)			11,893
Other comprehensive income		$	284,708			$	(73,283	)		$	211,425
Three Months Ended March 31, 2023
Interest rate swaps:
Unrealized losses		$	(260,544	)		$	67,065			$	(193,479	)
Transfer of realized gains to interest expense			(419,712	)			108,034				(311,678	)
Net interest rate swaps			(680,256	)			175,099				(505,157	)
Defined benefit plans:
Amortization of net actuarial losses			19,703				(5,072	)			14,631
Other comprehensive loss		$	(660,553	)		$	170,027			$	(490,526	)

RGC RESOURCES, INC. AND SUBSIDIARIES

						Tax
		Before-Tax				(Expense)				Net-of-Tax
		Amount				or Benefit				Amount
Six Months Ended March 31, 2024
Interest rate swaps:
Unrealized losses		$	(33,672	)		$	8,668			$	(25,004	)
Transfer of realized gains to interest expense			(1,078,889	)			277,705				(801,184	)
Net interest rate swaps			(1,112,561	)			286,373				(826,188	)
Defined benefit plans:
Amortization of net actuarial losses			32,030				(8,244	)			23,786
Other comprehensive loss		$	(1,080,531	)		$	278,129			$	(802,402	)
Six Months Ended March 31, 2023
Interest rate swaps:
Unrealized losses		$	(216,597	)		$	55,754			$	(160,843	)
Transfer of realized gains to interest expense			(710,491	)			182,879				(527,612	)
Net interest rate swaps			(927,088	)			238,633				(688,455	)
Defined benefit plans:
Amortization of net actuarial losses			39,406				(10,144	)			29,262
Other comprehensive loss		$	(887,682	)		$	228,489			$	(659,193	)

The amortization of actuarial gains and losses, reflected in the preceding table, relate to the unregulated operations of the Company. Actuarial gains and losses attributable to the regulated operations are included as a regulatory asset. See Note 13 for a schedule of regulatory assets. The amortization of actual gains and losses is recognized as a component of net periodic pension and postretirement benefit costs under other income, net in the condensed consolidated statements of income.

Reconciliation of Accumulated Other Comprehensive Income (Loss)

										Accumulated
										Other
		Interest Rate				Defined Benefit				Comprehensive
		Swaps				Plans				Income (Loss)
Balance at September 30, 2023		$	3,428,922			$	(1,175,633	)		$	2,253,289
Other comprehensive income (loss)			(826,188	)			23,786				(802,402	)
Balance at March 31, 2024		$	2,602,734			$	(1,151,847	)		$	1,450,887

RGC RESOURCES, INC. AND SUBSIDIARIES