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Note 3 - Segment Information | 12 Months Ended
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Sep. 30, 2025
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 is evaluated regularly by the Company's executive management in deciding how to allocate resources and assess performance. The Company has two reportable segments based on the nature of their activities and 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 the LLC. In order to reconcile to net income as disclosed in the consolidated statements of income, "Corporate and other" rows are included below associated with certain unallocated expenses that represent corporate reporting adjustments. The accounting policies of the reported segments are the same as those described within Note 1. Information is routinely presented to the CODM, the Company's President and Chief Executive Officer, in a manner that makes significant elements of profitability and cash flows of each segment easily discernible. The CODM evaluates the performance of the reportable segments based on the Gas Utility's operating income (loss) and the Investment in Affiliates' equity in earnings, as well as cash flows, and uses these measures to evaluate segment performance and allocate resources, primarily during the annual budget and forecasting processes. The CODM regularly reviews variances between budgeted and actual results in assessing earnings, operational performance, and allocating resources including personnel and capital allocations that affect each reportable segment. When the CODM reviews balance sheet information, it is at a consolidated level. Intersegment transactions are recorded at cost. Information related to the reportable segments of the Company are provided below:
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Consolidated Total |
For the Year Ended September 30, 2025: |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 95,231,943 |  |  | $ | — |  |  | $ | 95,231,943 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 102,269 |
Total revenues |  |  | 95,231,943 |  |  |  | — |  |  |  | 95,334,212 |
Cost of gas - utility |  |  | 42,550,954 |  |  |  | — |  |  |  | 42,550,954 |
Operations and maintenance |  |  | 19,729,415 |  |  |  | 181,995 |  |  |  | 19,911,410 |
Taxes other than income taxes |  |  | 2,931,367 |  |  |  | 2,420 |  |  |  | 2,933,787 |
Depreciation and amortization |  |  | 11,470,641 |  |  |  | — |  |  |  | 11,470,641 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 19,919 |
Total operating income (loss) |  |  | 18,549,566 |  |  |  | (184,415 | ) |  |  | 18,447,501 |
Equity in earnings |  |  | — |  |  |  | 3,234,632 |  |  |  | 3,234,632 |
Interest expense |  |  | 3,706,152 |  |  |  | 2,837,359 |  |  |  | 6,543,511 |
Income before income taxes |  |  | 17,072,877 |  |  |  | 216,278 |  |  |  | 17,289,155 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 82,350 |
Total income before income taxes |  | $ | 17,072,877 |  |  | $ | 216,278 |  |  | $ | 17,371,505 |
As of September 30, 2025: |  |  |  |  |  |  |  |  |  |  |  |
Assets |  | $ | 291,571,159 |  |  | $ | 21,679,154 |  |  | $ | 313,250,313 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 16,589,253 |
Total assets |  |  | 291,571,159 |  |  |  | 21,679,154 |  |  |  | 329,839,566 |
Gross additions to utility property |  |  | 20,730,140 |  |  |  | — |  |  |  | 20,730,140 |
Gross investment in affiliates |  | $ | — |  |  | $ | 76,385 |  |  | $ | 76,385 |
|  | Gas Utility |  |  | Investment in Affiliates |  |  | Consolidated Total |
For the Year Ended September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 84,533,101 |  |  | $ | — |  |  | $ | 84,533,101 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 108,131 |
Total revenues |  |  | 84,533,101 |  |  |  | — |  |  |  | 84,641,232 |
Cost of gas - utility |  |  | 35,967,987 |  |  |  | — |  |  | $ | 35,967,987 |
Operations and maintenance |  |  | 18,215,354 |  |  |  | 133,486 |  |  | $ | 18,348,840 |
Taxes other than income taxes |  |  | 2,701,186 |  |  |  | 3,354 |  |  | $ | 2,704,540 |
Depreciation and amortization |  |  | 10,518,094 |  |  |  | — |  |  |  | 10,518,094 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 20,011 |
Total operating income (loss) |  |  | 17,130,480 |  |  |  | (136,840 | ) |  |  | 17,081,760 |
Equity in earnings |  |  | — |  |  |  | 3,851,871 |  |  |  | 3,851,871 |
Interest expense |  |  | 3,700,674 |  |  |  | 2,804,211 |  |  |  | 6,504,885 |
Income before income taxes |  |  | 14,459,009 |  |  |  | 910,490 |  |  |  | 15,369,499 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 88,008 |
Total income before income taxes |  | $ | 14,459,009 |  |  | $ | 910,490 |  |  | $ | 15,457,507 |
As of September 30, 2024: |  |  |  |  |  |  |  |  |  |  |  |
Assets |  | $ | 280,508,989 |  |  | $ | 21,324,361 |  |  | $ | 301,833,350 |
Corporate and other |  |  | — |  |  |  | — |  |  |  | 18,865,873 |
Total assets |  |  | 280,508,989 |  |  |  | 21,324,361 |  |  |  | 320,699,223 |
Gross additions to utility property |  |  | 22,094,406 |  |  |  | — |  |  |  | 22,094,406 |
Gross investment in affiliates |  | $ | — |  |  | $ | 18,258 |  |  | $ | 18,258 |

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- Definition The entire disclosure for reporting segments including data and tables. 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