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BUSINESS SEGMENTS | 6 Months Ended
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Mar. 31, 2023
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 Henry’s, 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) from operations before taxes. Certain amounts in prior periods have been reclassified to conform with the current presentation. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED MARCH 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 364,231,958 | ​ | $ | — | ​ | $ | — | ​ | $ | 364,231,958
Tobacco | ​ | ​ | 110,422,414 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 110,422,414
Confectionery | ​ | ​ | 36,637,059 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 36,637,059
Health food | ​ | ​ | — | ​ | ​ | 11,348,011 | ​ | ​ | — | ​ | ​ | 11,348,011
Foodservice & other | ​ | ​ | 62,354,406 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 62,354,406
Total external revenue | ​ | ​ | 573,645,837 | ​ | ​ | 11,348,011 | ​ | ​ | — | ​ | ​ | 584,993,848
Depreciation | ​ | ​ | 1,443,546 | ​ | ​ | 260,413 | ​ | ​ | — | ​ | ​ | 1,703,959
Amortization | ​ | ​ | 103,794 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 103,794
Operating income (loss) | ​ | ​ | 8,921,673 | ​ | ​ | 171,448 | ​ | ​ | (3,765,301) | ​ | ​ | 5,327,820
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,169,541 | ​ | ​ | 2,169,541
Income (loss) from operations before taxes | ​ | ​ | 8,847,836 | ​ | ​ | 197,980 | ​ | ​ | (5,934,842) | ​ | ​ | 3,110,974
Total assets | ​ | ​ | 302,197,109 | ​ | ​ | 17,105,773 | ​ | ​ | 1,151,868 | ​ | ​ | 320,454,750
Capital expenditures | ​ | ​ | 1,167,966 | ​ | ​ | 241,909 | ​ | ​ | — | ​ | ​ | 1,409,875
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED MARCH 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 256,539,579 | ​ | $ | — | ​ | $ | — | ​ | $ | 256,539,579
Tobacco | ​ | ​ | 66,739,280 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 66,739,280
Confectionery | ​ | ​ | 22,671,755 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 22,671,755
Health food | ​ | ​ | — | ​ | ​ | 12,419,296 | ​ | ​ | — | ​ | ​ | 12,419,296
Foodservice & other | ​ | ​ | 33,518,282 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 33,518,282
Total external revenue | ​ | ​ | 379,468,896 | ​ | ​ | 12,419,296 | ​ | ​ | — | ​ | ​ | 391,888,192
Depreciation | ​ | ​ | 499,567 | ​ | ​ | 318,655 | ​ | ​ | — | ​ | ​ | 818,222
Operating income (loss) | ​ | ​ | 6,303,312 | ​ | ​ | 746,068 | ​ | ​ | (3,106,031) | ​ | ​ | 3,943,349
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 244,920 | ​ | ​ | 244,920
Income (loss) from operations before taxes | ​ | ​ | 6,334,427 | ​ | ​ | 748,572 | ​ | ​ | (3,323,612) | ​ | ​ | 3,759,387
Equity method investment earnings, net of tax | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 591,795 | ​ | ​ | 591,795
Total assets | ​ | ​ | 149,384,369 | ​ | ​ | 17,563,452 | ​ | ​ | 14,222,250 | ​ | ​ | 181,170,071
Capital expenditures | ​ | ​ | 466,703 | ​ | ​ | 187,093 | ​ | ​ | — | ​ | ​ | 653,796
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
SIX MONTHS ENDED MARCH 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 731,921,636 | ​ | $ | — | ​ | $ | — | ​ | $ | 731,921,636
Tobacco | ​ | ​ | 214,461,534 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 214,461,534
Confectionery | ​ | ​ | 69,196,055 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 69,196,055
Health food | ​ | ​ | — | ​ | ​ | 21,609,884 | ​ | ​ | — | ​ | ​ | 21,609,884
Foodservice & other | ​ | ​ | 113,794,247 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 113,794,247
Total external revenue | ​ | ​ | 1,129,373,472 | ​ | ​ | 21,609,884 | ​ | ​ | — | ​ | ​ | 1,150,983,356
Depreciation | ​ | ​ | 2,193,676 | ​ | ​ | 538,636 | ​ | ​ | — | ​ | ​ | 2,732,312
Amortization | ​ | ​ | 146,327 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 146,327
Operating income (loss) | ​ | ​ | 17,162,168 | ​ | ​ | (95,168) | ​ | ​ | (6,219,670) | ​ | ​ | 10,847,330
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,863,698 | ​ | ​ | 3,863,698
Income (loss) from operations before taxes | ​ | ​ | 17,172,664 | ​ | ​ | (44,521) | ​ | ​ | (10,083,368) | ​ | ​ | 7,044,775
Total assets | ​ | ​ | 302,197,109 | ​ | ​ | 17,105,773 | ​ | ​ | 1,151,868 | ​ | ​ | 320,454,750
Capital expenditures | ​ | ​ | 2,416,033 | ​ | ​ | 385,774 | ​ | ​ | — | ​ | ​ | 2,801,807
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
SIX MONTHS ENDED MARCH 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 535,905,970 | ​ | $ | — | ​ | $ | — | ​ | $ | 535,905,970
Tobacco | ​ | ​ | 135,807,514 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 135,807,514
Confectionery | ​ | ​ | 47,150,791 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 47,150,791
Health food | ​ | ​ | — | ​ | ​ | 24,344,501 | ​ | ​ | — | ​ | ​ | 24,344,501
Foodservice & other | ​ | ​ | 71,250,693 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 71,250,693
Total external revenue | ​ | ​ | 790,114,968 | ​ | ​ | 24,344,501 | ​ | ​ | — | ​ | ​ | 814,459,469
Depreciation | ​ | ​ | 986,332 | ​ | ​ | 616,135 | ​ | ​ | — | ​ | ​ | 1,602,467
Operating income (loss) | ​ | ​ | 13,741,978 | ​ | ​ | 1,207,653 | ​ | ​ | (7,248,604) | ​ | ​ | 7,701,027
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 567,018 | ​ | ​ | 567,018
Income (loss) from operations before taxes | ​ | ​ | 13,781,656 | ​ | ​ | 1,213,313 | ​ | ​ | (7,759,892) | ​ | ​ | 7,235,077
Equity method investment earnings, net of tax | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,362,161 | ​ | ​ | 1,362,161
Total assets | ​ | ​ | 149,384,369 | ​ | ​ | 17,563,452 | ​ | ​ | 14,222,250 | ​ | ​ | 181,170,071
Capital expenditures | ​ | ​ | 643,684 | ​ | ​ | 231,538 | ​ | ​ | — | ​ | ​ | 875,222
​ ​ ​

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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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