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Note 3 - Segment Information
 3 Months Ended
Dec. 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 the LLC.

 

Information related to the Company's segments are provided below:

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

Three Months Ended December 31, 2024

            

Operating revenues

 $27,263,204  $—  $27,263,204 

Corporate and other

  —   —   26,282 

Total revenues

  27,263,204   —   27,289,486 

Depreciation and amortization

  2,843,360   —   2,843,360 

Operating income (loss)

  7,341,276   (35,188)  7,306,088 

Corporate and other

  —   —   21,933 

Total operating income (loss)

  7,341,276   (35,188)  7,328,021 

Equity in earnings

  —   854,213   854,213 

Interest expense

  1,032,409   747,521   1,779,930 

Income before income taxes

  6,781,658   72,049   6,853,707 

Corporate and other

  —   —   21,933 

Total income before income taxes

 $6,781,658  $72,049  $6,875,640 

 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

Three Months Ended December 31, 2023

            

Operating revenues

 $24,391,854  $—  $24,391,854 

Corporate and other

  —   —   27,498 

Total revenues

  24,391,854   —   24,419,352 

Depreciation and amortization

  2,697,707   —   2,697,707 

Operating income (loss)

  6,644,298   (13,403)  6,630,895 

Corporate and other

  —   —   21,142 

Total operating income (loss)

  6,644,298   (13,403)  6,652,037 

Equity in earnings

  —   1,467,835   1,467,835 

Interest expense

  968,937   667,336   1,636,273 

Income before income taxes

  5,795,734   787,534   6,583,268 

Corporate and other

  —   —   21,117 

Total income before income taxes

 $5,795,734  $787,534  $6,604,385 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

As of December 31, 2024:

            

Assets

 $297,160,045  $21,448,885  $318,608,930 

Corporate and other

  —   —   16,563,542 

Total assets

  297,160,045   21,448,885   335,172,472 

Gross additions to utility property

  5,748,177   —   5,748,177 

Gross investment in affiliates

 $—  $17,738  $17,738 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

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