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Note 3 - Segment Information
 6 Months Ended
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