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BUSINESS SEGMENTS | 6 Months Ended
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Mar. 31, 2024
BUSINESS SEGMENTS |
BUSINESS SEGMENTS | 9. BUSINESS SEGMENTS ​ The Company has two reportable business segments: the wholesale distribution of consumer products which includes Team Sledd and Henry’s (the Wholesale Segment), and the retail sale of health and natural food products (the Retail Segment). 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 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. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED MARCH 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 367,878,538 | ​ | $ | — | ​ | $ | — | ​ | $ | 367,878,538
Tobacco | ​ | ​ | 114,832,151 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 114,832,151
Confectionery | ​ | ​ | 37,862,439 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 37,862,439
Health food | ​ | ​ | — | ​ | ​ | 11,224,329 | ​ | ​ | — | ​ | ​ | 11,224,329
Foodservice & other | ​ | ​ | 70,079,849 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 70,079,849
Total external revenue | ​ | ​ | 590,652,977 | ​ | ​ | 11,224,329 | ​ | ​ | — | ​ | ​ | 601,877,306
Depreciation | ​ | ​ | 1,940,843 | ​ | ​ | 214,121 | ​ | ​ | — | ​ | ​ | 2,154,964
Amortization | ​ | ​ | 134,426 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 134,426
Operating income (loss) | ​ | ​ | 5,813,354 | ​ | ​ | 456,722 | ​ | ​ | (2,926,413) | ​ | ​ | 3,343,663
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,247,737 | ​ | ​ | 2,247,737
Income (loss) from operations before taxes | ​ | ​ | 5,843,163 | ​ | ​ | 483,530 | ​ | ​ | (5,174,150) | ​ | ​ | 1,152,543
Total assets | ​ | ​ | 318,821,274 | ​ | ​ | 16,312,547 | ​ | ​ | 1,023,048 | ​ | ​ | 336,156,869
Capital expenditures (1) | ​ | ​ | 14,230,776 | ​ | ​ | 726,494 | ​ | ​ | — | ​ | ​ | 14,957,270
​ (1) Includes $10.0 million purchase of a distribution facility in Colorado City, Colorado. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
SIX MONTHS ENDED MARCH 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 763,547,247 | ​ | $ | — | ​ | $ | — | ​ | $ | 763,547,247
Tobacco | ​ | ​ | 236,183,852 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 236,183,852
Confectionery | ​ | ​ | 77,905,569 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 77,905,569
Health food | ​ | ​ | — | ​ | ​ | 21,913,758 | ​ | ​ | — | ​ | ​ | 21,913,758
Foodservice & other | ​ | ​ | 147,285,954 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 147,285,954
Total external revenue | ​ | ​ | 1,224,922,622 | ​ | ​ | 21,913,758 | ​ | ​ | — | ​ | ​ | 1,246,836,380
Depreciation | ​ | ​ | 3,796,589 | ​ | ​ | 443,118 | ​ | ​ | — | ​ | ​ | 4,239,707
Amortization | ​ | ​ | 268,851 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 268,851
Operating income (loss) | ​ | ​ | 12,783,479 | ​ | ​ | 440,246 | ​ | ​ | (6,056,985) | ​ | ​ | 7,166,740
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,559,250 | ​ | ​ | 4,559,250
Income (loss) from operations before taxes | ​ | ​ | 12,618,261 | ​ | ​ | 1,025,478 | ​ | ​ | (10,616,235) | ​ | ​ | 3,027,504
Total assets | ​ | ​ | 318,821,274 | ​ | ​ | 16,312,547 | ​ | ​ | 1,023,048 | ​ | ​ | 336,156,869
Capital expenditures (1) | ​ | ​ | 17,211,107 | ​ | ​ | 1,025,663 | ​ | ​ | — | ​ | ​ | 18,236,770
​ (1) Includes $10.0 million purchase of a distribution facility in Colorado City, Colorado. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​

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