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BUSINESS SEGMENTS

12 Months Ended

Sep. 30, 2019

BUSINESS SEGMENTS

BUSINESS SEGMENTS

11. BUSINESS SEGMENTS:

The Company has two reportable business segments: the wholesale distribution of consumer products and the retail sale of health and natural food products. The retail health food stores’ operations are aggregated to comprise the Retail Segment because such operations have similar economic characteristics, as well as similar characteristics with respect to the nature of products sold, the type and class of customers for the health food products and the methods used to sell the products. Included in the “Other” column are intercompany eliminations, and assets held and charges incurred by our holding company. The segments are evaluated on revenues, gross margins, operating income (loss), and income before taxes.

		Wholesale			Retail
		Segment			Segment			Other			Consolidated
FISCAL YEAR ENDED 2019:
External revenues:
Cigarettes		$	955,667,916		$	—		$	—		$	955,667,916
Tobacco			197,678,519			—			—			197,678,519
Confectionery			83,130,063			—			—			83,130,063
Health food			—			44,210,688			—			44,210,688
Foodservice & other			111,700,971			—			—			111,700,971
Total external revenue			1,348,177,469			44,210,688			—			1,392,388,157
Depreciation			1,569,178			1,006,746			—			2,575,924
Amortization			41,667			—			—			41,667
Operating income (loss)			17,280,500			(4,731,717)			(6,199,095)			6,349,688
Interest expense			145,980			—			1,452,884			1,598,864
Income (loss) from operations before taxes			17,186,295			(4,722,375)			(7,651,977)			4,811,943
Total assets			143,541,723			14,028,232			141,667			157,711,622
Capital expenditures			2,982,273			1,524,007			—			4,506,280
FISCAL YEAR ENDED 2018:
External revenue:
Cigarettes		$	933,920,414		$	—		$	—		$	933,920,414
Tobacco			172,904,744			—			—			172,904,744
Confectionery			78,915,899			—			—			78,915,899
Health food			—			29,572,602			—			29,572,602
Foodservice & other			106,992,999			—			—			106,992,999
Total external revenue			1,292,734,056			29,572,602			—			1,322,306,658
Depreciation			1,338,476			900,295			—			2,238,771
Amortization			79,375			—			—			79,375
Operating income (loss)			15,000,101			(3,144,133)			(5,937,027)			5,918,941
Interest expense			91,276			—			1,103,097			1,194,373
Income (loss) from operations before taxes			14,950,647			(3,134,613)			(7,037,424)			4,778,610
Total assets			125,152,820			14,639,962			161,372			139,954,154
Capital expenditures			3,163,272			1,537,727			—			4,700,999

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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