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SEGMENT AND GEOGRAPHIC INFORMATION | 12 Months Ended
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Sep. 30, 2011
SEGMENT AND GEOGRAPHIC INFORMATION |
SEGMENT AND GEOGRAPHIC INFORMATION |
12. SEGMENT AND GEOGRAPHIC INFORMATION Barnwell operates four segments: 1) exploring for, developing, producing and selling oil and natural gas in Canada (oil and natural gas); 2) investing in land interests in Hawaii (land investment); 3) drilling wells and installing and repairing water pumping systems in Hawaii (contract drilling); and 4) developing homes for sale in Hawaii (residential real estate). The following table presents certain financial information related to Barnwell’s reporting segments. All revenues reported are from external customers with no intersegment sales or transfers.
|  | Year ended September 30, |
|  | 2011 |  |  |  | 2010 |
Revenues: |  |  |  |  |  |  |
Oil and natural gas |  | $ | 30,228,000 |  |  |  | $ | 28,879,000 |
Land investment |  | 3,742,000 |  |  |  | 5,844,000 |
Contract drilling |  | 3,855,000 |  |  |  | 6,517,000 |
Other |  | 596,000 |  |  |  | 611,000 |
Total before interest income |  | 38,421,000 |  |  |  | 41,851,000 |
Interest income |  | 39,000 |  |  |  | 21,000 |
Total revenues |  | $ | 38,460,000 |  |  |  | $ | 41,872,000 |
Depletion, depreciation, and amortization: |  |  |  |  |  |  |
Oil and natural gas |  | $ | 9,469,000 |  |  |  | $ | 8,735,000 |
Contract drilling |  | 560,000 |  |  |  | 480,000 |
Other |  | 98,000 |  |  |  | 87,000 |
Total depletion, depreciation, and amortization |  | $ | 10,127,000 |  |  |  | $ | 9,302,000 |
Reduction of carrying value of assets: |  |  |  |  |  |  |
Land investment |  | $ | 689,000 |  |  |  | $ | 1,578,000 |
Residential real estate |  | 418,000 |  |  |  | 571,000 |
Other |  | 121,000 |  |  |  | - |
Total reduction of carrying value of assets |  | $ | 1,228,000 |  |  |  | $ | 2,149,000 |
Operating profit (before general and administrative expenses): |  |  |  |  |  |  |
Oil and natural gas |  | $ | 9,355,000 |  |  |  | $ | 9,941,000 |
Land investment |  | 3,053,000 |  |  |  | 4,266,000 |
Contract drilling |  | (587,000 | ) |  |  | 437,000 |
Residential real estate |  | (418,000 | ) |  |  | (571,000 | )
Other |  | 377,000 |  |  |  | 524,000 |
Total operating profit |  | 11,780,000 |  |  |  | 14,597,000 |
General and administrative expenses |  | (9,025,000 | ) |  |  | (8,331,000 | )
Interest expense |  | (1,088,000 | ) |  |  | (1,225,000 | )
Interest income |  | 39,000 |  |  |  | 21,000 |
Earnings before income taxes |  | $ | 1,706,000 |  |  |  | $ | 5,062,000 |
Capital Expenditures:
|  | Year ended September 30, |
|  | 2011 |  |  |  | 2010 |
Oil and natural gas |  | $ | 13,299,000 |  |  |  | $ | 5,485,000 |
Contract drilling |  | 186,000 |  |  |  | 1,027,000 |
Other |  | 1,919,000 |  |  |  | 220,000 |
Total |  | $ | 15,404,000 |  |  |  | $ | 6,732,000 |
Assets By Segment:
|  | September 30, |
|  | 2011 |  |  |  | 2010 |
Oil and natural gas (1) |  | $ | 54,454,000 |  | 62% |  |  |  | $ | 52,021,000 |  | 58% |
Land investment (2) |  | 2,869,000 |  | 3% |  |  |  | 3,558,000 |  | 4% |
Contract drilling (2) |  | 3,660,000 |  | 4% |  |  |  | 4,514,000 |  | 5% |
Residential real estate (2) |  | 12,640,000 |  | 14% |  |  |  | 13,058,000 |  | 15% |
Other: |  |  |  |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash |  | 9,834,000 |  | 11% |  |  |  | 10,892,000 |  | 12% |
Corporate and other |  | 5,315,000 |  | 6% |  |  |  | 5,845,000 |  | 6% |
Total |  | $ | 88,772,000 |  | 100% |  |  |  | $ | 89,888,000 |  | 100% |
(1) Primarily located in the province of Alberta, Canada. (2) Located in Hawaii. Long-Lived Assets By Geographic Area:
|  | September 30, |
|  | 2011 |  |  |  | 2010 |
United States |  | $ | 9,911,000 |  | 17% |  |  |  | $ | 9,268,000 |  | 17% |
Canada |  | 49,331,000 |  | 83% |  |  |  | 46,253,000 |  | 83% |
Total |  | $ | 59,242,000 |  | 100% |  |  |  | $ | 55,521,000 |  | 100% |
Revenue By Geographic Area:
|  | Year ended September 30, |
|  | 2011 |  |  |  | 2010 |
United States |  | $ | 7,640,000 |  |  |  | $ | 12,413,000 |
Canada |  | 30,781,000 |  |  |  | 29,438,000 |
Total (excluding interest income) |  | $ | 38,421,000 |  |  |  | $ | 41,851,000

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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