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BUSINESS SEGMENTS | 9 Months Ended
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Jun. 30, 2022
BUSINESS SEGMENTS |
BUSINESS SEGMENTS | 10. BUSINESS SEGMENTS ​ The Company has two reportable business segments: the wholesale distribution of consumer products which includes Team Sledd, and the retail sale of health and natural food products. The aggregation of the Company’s business operations into these business segments was based on a range of considerations including but not limited to the characteristics of each business, similarities in the nature and type of products sold, customer classes, methods used to sell the products and economic profiles. Included in the “Other” column are intercompany eliminations, equity method investment earnings, net of tax and assets held and charges incurred and income earned by our holding company. The segments are evaluated on revenues, gross margins, operating income (loss), and income (loss) before taxes. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED JUNE 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 364,771,496 | ​ | $ | — | ​ | $ | — | ​ | $ | 364,771,496
Tobacco | ​ | ​ | 93,957,495 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 93,957,495
Confectionery | ​ | ​ | 32,541,090 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 32,541,090
Health food | ​ | ​ | — | ​ | ​ | 11,350,797 | ​ | ​ | — | ​ | ​ | 11,350,797
Foodservice & other | ​ | ​ | 47,963,274 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 47,963,274
Total external revenue | ​ | ​ | 539,233,355 | ​ | ​ | 11,350,797 | ​ | ​ | — | ​ | ​ | 550,584,152
Depreciation | ​ | ​ | 602,770 | ​ | ​ | 281,376 | ​ | ​ | — | ​ | ​ | 884,146
Amortization | ​ | ​ | 28,355 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 28,355
Operating income (loss) | ​ | ​ | 9,432,660 | ​ | ​ | 241,225 | ​ | ​ | (2,772,099) | ​ | ​ | 6,901,786
Interest expense | ​ | ​ | 320,103 | ​ | ​ | — | ​ | ​ | 335,708 | ​ | ​ | 655,811
Income (loss) from operations before taxes | ​ | ​ | 9,094,511 | ​ | ​ | 256,392 | ​ | ​ | (687,676) | ​ | ​ | 8,663,227
Equity method investment earnings, net of tax | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 307,973 | ​ | ​ | 307,973
Total assets | ​ | ​ | 278,824,259 | ​ | ​ | 18,656,853 | ​ | ​ | 814,291 | ​ | ​ | 298,295,403
Capital expenditures | ​ | ​ | 12,074,922 | ​ | ​ | 985,835 | ​ | ​ | — | ​ | ​ | 13,060,757
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED JUNE 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 294,690,427 | ​ | $ | — | ​ | $ | — | ​ | $ | 294,690,427
Tobacco | ​ | ​ | 68,525,147 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 68,525,147
Confectionery | ​ | ​ | 25,703,325 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25,703,325
Health food | ​ | ​ | — | ​ | ​ | 11,745,769 | ​ | ​ | — | ​ | ​ | 11,745,769
Foodservice & other | ​ | ​ | 37,648,362 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 37,648,362
Total external revenue | ​ | ​ | 426,567,261 | ​ | ​ | 11,745,769 | ​ | ​ | — | ​ | ​ | 438,313,030
Depreciation | ​ | ​ | 445,831 | ​ | ​ | 295,349 | ​ | ​ | — | ​ | ​ | 741,180
Operating income (loss) | ​ | ​ | 6,349,783 | ​ | ​ | 621,421 | ​ | ​ | (2,671,795) | ​ | ​ | 4,299,409
Interest expense | ​ | ​ | 56,924 | ​ | ​ | — | ​ | ​ | 273,005 | ​ | ​ | 329,929
Income (loss) from operations before taxes | ​ | ​ | 6,304,328 | ​ | ​ | 624,447 | ​ | ​ | (2,915,858) | ​ | ​ | 4,012,917
Equity method investment earnings, net of tax | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 754,293 | ​ | ​ | 754,293
Total assets | ​ | ​ | 159,766,283 | ​ | ​ | 17,140,050 | ​ | ​ | 11,874,597 | ​ | ​ | 188,780,930
Capital expenditures | ​ | ​ | 384,429 | ​ | ​ | 133,732 | ​ | ​ | — | ​ | ​ | 518,161
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
NINE MONTHS ENDED JUNE 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 900,677,466 | ​ | $ | — | ​ | $ | — | ​ | $ | 900,677,466
Tobacco | ​ | ​ | 229,765,009 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 229,765,009
Confectionery | ​ | ​ | 79,691,881 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 79,691,881
Health food | ​ | ​ | — | ​ | ​ | 35,695,298 | ​ | ​ | — | ​ | ​ | 35,695,298
Foodservice & other | ​ | ​ | 119,213,967 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 119,213,967
Total external revenue | ​ | ​ | 1,329,348,323 | ​ | ​ | 35,695,298 | ​ | ​ | — | ​ | ​ | 1,365,043,621
Depreciation | ​ | ​ | 1,589,102 | ​ | ​ | 897,511 | ​ | ​ | — | ​ | ​ | 2,486,613
Amortization | ​ | ​ | 28,355 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 28,355
Operating income (loss) | ​ | ​ | 23,174,638 | ​ | ​ | 1,448,878 | ​ | ​ | (10,020,703) | ​ | ​ | 14,602,813
Interest expense | ​ | ​ | 428,665 | ​ | ​ | — | ​ | ​ | 794,164 | ​ | ​ | 1,222,829
Income (loss) from operations before taxes | ​ | ​ | 22,767,606 | ​ | ​ | 1,469,705 | ​ | ​ | (8,339,007) | ​ | ​ | 15,898,304
Equity method investment earnings, net of tax | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,670,133 | ​ | ​ | 1,670,133
Total assets | ​ | ​ | 278,824,259 | ​ | ​ | 18,656,853 | ​ | ​ | 814,291 | ​ | ​ | 298,295,403
Capital expenditures | ​ | ​ | 12,718,606 | ​ | ​ | 1,217,373 | ​ | ​ | — | ​ | ​ | 13,935,979
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
NINE MONTHS ENDED JUNE 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 826,838,177 | ​ | $ | — | ​ | $ | — | ​ | $ | 826,838,177
Tobacco | ​ | ​ | 194,802,459 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 194,802,459
Confectionery | ​ | ​ | 65,769,418 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 65,769,418
Health food | ​ | ​ | — | ​ | ​ | 35,199,199 | ​ | ​ | — | ​ | ​ | 35,199,199
Foodservice & other | ​ | ​ | 98,962,041 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 98,962,041
Total external revenue | ​ | ​ | 1,186,372,095 | ​ | ​ | 35,199,199 | ​ | ​ | — | ​ | ​ | 1,221,571,294
Depreciation | ​ | ​ | 1,405,528 | ​ | ​ | 889,862 | ​ | ​ | — | ​ | ​ | 2,295,390
Operating income (loss) | ​ | ​ | 16,569,154 | ​ | ​ | 1,167,737 | ​ | ​ | (6,178,910) | ​ | ​ | 11,557,981
Interest expense | ​ | ​ | 144,569 | ​ | ​ | — | ​ | ​ | 872,333 | ​ | ​ | 1,016,902
Income (loss) from operations before taxes | ​ | ​ | 16,499,529 | ​ | ​ | 1,176,481 | ​ | ​ | (6,965,406) | ​ | ​ | 10,710,604
Equity method investment earnings, net of tax | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,403,124 | ​ | ​ | 1,403,124
Total assets | ​ | ​ | 159,766,283 | ​ | ​ | 17,140,050 | ​ | ​ | 11,874,597 | ​ | ​ | 188,780,930
Capital expenditures | ​ | ​ | 977,860 | ​ | ​ | 277,098 | ​ | ​ | — | ​ | ​ | 1,254,958
​

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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