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BUSINESS SEGMENTS | 9 Months Ended
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Jun. 30, 2024
BUSINESS SEGMENTS |
BUSINESS SEGMENTS | 10. BUSINESS SEGMENTS ​ The Company has two reportable business segments: the wholesale distribution of consumer products (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 JUNE 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 440,843,958 | ​ | $ | — | ​ | $ | — | ​ | $ | 440,843,958
Tobacco | ​ | ​ | 130,898,477 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 130,898,477
Confectionery | ​ | ​ | 48,595,576 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 48,595,576
Health food | ​ | ​ | — | ​ | ​ | 10,195,162 | ​ | ​ | — | ​ | ​ | 10,195,162
Foodservice & other | ​ | ​ | 87,319,120 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 87,319,120
Total external revenue | ​ | ​ | 707,657,131 | ​ | ​ | 10,195,162 | ​ | ​ | — | ​ | ​ | 717,852,293
Depreciation | ​ | ​ | 2,041,507 | ​ | ​ | 239,226 | ​ | ​ | — | ​ | ​ | 2,280,733
Amortization | ​ | ​ | 134,425 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 134,425
Operating income (loss) | ​ | ​ | 9,333,724 | ​ | ​ | (65,363) | ​ | ​ | (3,645,741) | ​ | ​ | 5,622,620
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,903,925 | ​ | ​ | 2,903,925
Income (loss) from operations before taxes | ​ | ​ | 8,994,641 | ​ | ​ | (40,702) | ​ | ​ | (6,549,665) | ​ | ​ | 2,404,274
Total assets | ​ | ​ | 382,254,911 | ​ | ​ | 17,098,132 | ​ | ​ | 1,250,912 | ​ | ​ | 400,603,955
Capital expenditures | ​ | ​ | 4,959,809 | ​ | ​ | 664,555 | ​ | ​ | — | ​ | ​ | 5,624,364
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
THREE MONTHS ENDED JUNE 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 429,431,319 | ​ | $ | — | ​ | $ | — | ​ | $ | 429,431,319
Tobacco | ​ | ​ | 124,894,734 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 124,894,734
Confectionery | ​ | ​ | 46,624,371 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 46,624,371
Health food | ​ | ​ | — | ​ | ​ | 10,745,108 | ​ | ​ | — | ​ | ​ | 10,745,108
Foodservice & other | ​ | ​ | 84,793,895 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 84,793,895
Total external revenue | ​ | ​ | 685,744,319 | ​ | ​ | 10,745,108 | ​ | ​ | — | ​ | ​ | 696,489,427
Depreciation | ​ | ​ | 1,690,452 | ​ | ​ | 278,552 | ​ | ​ | — | ​ | ​ | 1,969,004
Amortization | ​ | ​ | 134,425 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 134,425
Operating income (loss) | ​ | ​ | 11,772,692 | ​ | ​ | (297,795) | ​ | ​ | (3,564,070) | ​ | ​ | 7,910,827
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,385,842 | ​ | ​ | 2,385,842
Income (loss) from operations before taxes | ​ | ​ | 11,148,619 | ​ | ​ | 559,473 | ​ | ​ | (5,949,913) | ​ | ​ | 5,758,179
Total assets | ​ | ​ | 349,564,773 | ​ | ​ | 18,008,597 | ​ | ​ | 1,133,985 | ​ | ​ | 368,707,355
Capital expenditures | ​ | ​ | 5,082,997 | ​ | ​ | 405,694 | ​ | ​ | — | ​ | ​ | 5,488,691
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
NINE MONTHS ENDED JUNE 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 1,204,391,205 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,204,391,205
Tobacco | ​ | ​ | 367,082,329 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 367,082,329
Confectionery | ​ | ​ | 126,501,145 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 126,501,145
Health food | ​ | ​ | — | ​ | ​ | 32,108,920 | ​ | ​ | — | ​ | ​ | 32,108,920
Foodservice & other | ​ | ​ | 234,605,074 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 234,605,074
Total external revenue | ​ | ​ | 1,932,579,753 | ​ | ​ | 32,108,920 | ​ | ​ | — | ​ | ​ | 1,964,688,673
Depreciation | ​ | ​ | 5,838,096 | ​ | ​ | 682,344 | ​ | ​ | — | ​ | ​ | 6,520,440
Amortization | ​ | ​ | 403,276 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 403,276
Operating income (loss) | ​ | ​ | 22,117,203 | ​ | ​ | 374,883 | ​ | ​ | (9,702,725) | ​ | ​ | 12,789,361
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,463,175 | ​ | ​ | 7,463,175
Income (loss) from operations before taxes | ​ | ​ | 21,612,902 | ​ | ​ | 984,776 | ​ | ​ | (17,165,899) | ​ | ​ | 5,431,779
Total assets | ​ | ​ | 382,254,911 | ​ | ​ | 17,098,132 | ​ | ​ | 1,250,912 | ​ | ​ | 400,603,955
Capital expenditures (1) | ​ | ​ | 22,170,916 | ​ | ​ | 1,690,218 | ​ | ​ | — | ​ | ​ | 23,861,134
​ (1) Includes $10.0 million purchase of a distribution facility in Colorado City, Colorado. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Wholesale | ​ | Retail | ​ | ​ | ​ | ​
​ |  | Segment |  | Segment |  | Other |  | Consolidated
NINE MONTHS ENDED JUNE 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
External revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cigarettes | ​ | $ | 1,161,352,954 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,161,352,954
Tobacco | ​ | ​ | 339,356,268 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 339,356,268
Confectionery | ​ | ​ | 115,820,426 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 115,820,426
Health food | ​ | ​ | — | ​ | ​ | 32,354,992 | ​ | ​ | — | ​ | ​ | 32,354,992
Foodservice & other | ​ | ​ | 198,588,142 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 198,588,142
Total external revenue | ​ | ​ | 1,815,117,790 | ​ | ​ | 32,354,992 | ​ | ​ | — | ​ | ​ | 1,847,472,782
Depreciation | ​ | ​ | 3,884,128 | ​ | ​ | 817,188 | ​ | ​ | — | ​ | ​ | 4,701,316
Amortization | ​ | ​ | 280,752 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 280,752
Operating income (loss) | ​ | ​ | 28,934,860 | ​ | ​ | (392,963) | ​ | ​ | (9,783,740) | ​ | ​ | 18,758,157
Interest expense | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 6,249,540 | ​ | ​ | 6,249,540
Income (loss) from operations before taxes | ​ | ​ | 28,321,283 | ​ | ​ | 514,952 | ​ | ​ | (16,033,281) | ​ | ​ | 12,802,954
Total assets | ​ | ​ | 349,564,773 | ​ | ​ | 18,008,597 | ​ | ​ | 1,133,985 | ​ | ​ | 368,707,355
Capital expenditures | ​ | ​ | 7,499,029 | ​ | ​ | 791,468 | ​ | ​ | — | ​ | ​ | 8,290,497
​

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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