v3.26.1
Note 3 - Segment Information
9 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

3.

Segment Information

 

Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the Company's executive management in deciding how to allocate resources and assess performance.  The Company has two reportable segments based on the nature of their activities and are defined as follows:

 

Gas Utility - The natural gas segment of the Company generates revenue from its tariff rates and other regulatory mechanisms through which it provides the sale and distribution of natural gas to its residential, commercial and industrial customers.

 

Investment in Affiliates - The investment in affiliates segment reflects the income generated through the activities of the Company's investment in the LLC.

 

In order to reconcile to net income as disclosed in the consolidated statements of income, "Corporate and other" rows are included below associated with certain unallocated expenses that represent corporate reporting adjustments.

 

The accounting policies of the reported segments are the same as those described in Note 1 to the consolidated financial statements contained in the Company's Form 10-K for the year ended  September 30, 2025.  Information is routinely presented to the CODM, the Company's President and Chief Executive Officer, in a manner that makes significant elements of profitability and cash flows of each segment easily discernible.  The CODM evaluates the performance of the reportable segments based on the Gas Utility's operating income (loss) and the Investment in Affiliates' equity in earnings, as well as cash flows, and uses these measures to evaluate segment performance and allocate resources, primarily during the annual budget and forecasting processes.  The CODM regularly reviews variances between budgeted and actual results in assessing earnings, operational performance, and allocating resources including personnel and capital allocations that affect each reportable segment.  When the CODM reviews balance sheet information, it is at the consolidated level.  Intersegment transactions are recorded at cost.

 

Information related to the Company's segments are provided below:

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

Three Months Ended June 30, 2026

            

Operating revenues

 $17,082,066  $  $17,082,066 

Corporate and other

        23,327 

Total revenues

  17,082,066      17,105,393 

Cost of gas - utility

  6,902,067      6,902,067 

Operations and maintenance

  5,098,310   23,690   5,122,000 

Taxes other than income taxes

  832,890   237   833,127 

Depreciation and amortization

  3,071,105      3,071,105 

Corporate and other

        4,825 

Total operating income (loss)

  1,177,694   (23,927)  1,172,269 

Equity in earnings

     764,178   764,178 

Interest expense

  927,062   624,688   1,551,750 

Income before income taxes

  561,001   134,160   695,161 

Corporate and other

        18,502 

Total income before income taxes

 $561,001  $134,160  $713,663 

 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

Three Months Ended June 30, 2025

            

Operating revenues

 $17,239,550  $  $17,239,550 

Corporate and other

        25,065 

Total revenues

  17,239,550      17,264,615 

Cost of gas - utility

  7,816,181      7,816,181 

Operations and maintenance

  4,544,554   43,118   4,587,672 

Taxes other than income taxes

  749,494   573   750,067 

Depreciation and amortization

  2,909,344      2,909,344 

Corporate and other

        4,791 

Total operating income (loss)

  1,219,977   (43,691)  1,196,560 

Equity in earnings

     772,082   772,082 

Interest expense

  822,022   690,732   1,512,754 

Income before income taxes

  640,938   38,676   679,614 

Corporate and other

        20,274 

Total income before income taxes

 $640,938  $38,676  $699,888 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

Nine Months Ended June 30, 2026

            

Operating revenues

 $92,750,085  $  $92,750,085 

Corporate and other

        72,785 

Total revenues

  92,750,085      92,822,870 

Cost of gas - utility

  46,095,234      46,095,234 

Operations and maintenance

  15,873,629   89,818   15,963,447 

Taxes other than income taxes

  2,528,121   1,634   2,529,755 

Depreciation and amortization

  9,213,315      9,213,315 

Corporate and other

        14,563 

Total operating income (loss)

  19,039,786   (91,452)  19,006,556 

Equity in earnings

     2,495,239   2,495,239 

Interest expense

  2,959,096   1,849,642   4,808,738 

Income before income taxes

  17,538,625   622,586   18,161,211 

Corporate and other

        58,222 

Total income before income taxes

 $17,538,625  $622,586  $18,219,433 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

Nine Months Ended June 30, 2025

            

Operating revenues

 $80,938,690  $  $80,938,690 

Corporate and other

        77,508 

Total revenues

  80,938,690      81,016,198 

Cost of gas - utility

  36,581,043      36,581,043 

Operations and maintenance

  14,484,248   115,286   14,599,534 

Taxes other than income taxes

  2,285,255   1,813   2,287,068 

Depreciation and amortization

  8,609,472      8,609,472 

Corporate and other

        14,558 

Total operating income (loss)

  18,978,672   (117,099)  18,924,523 

Equity in earnings

     2,427,470   2,427,470 

Interest expense

  2,796,978   2,125,981   4,922,959 

Income before income taxes

  17,360,579   186,474   17,547,053 

Corporate and other

        62,950 

Total income before income taxes

 $17,360,579  $186,474  $17,610,003 

 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

As of June 30, 2026:

            

Assets

 $301,324,252  $23,280,379  $324,604,631 

Corporate and other

        15,054,500 

Total assets

  301,324,252   23,280,379   339,659,131 

Gross additions to utility property

  16,074,186      16,074,186 

Gross investment in affiliates

 $  $1,015,960  $1,015,960 

 

  

Gas Utility

  

Investment in Affiliates

  

Consolidated Total

 

As of September 30, 2025:

            

Assets

 $291,571,159  $21,679,154  $313,250,313 

Corporate and other

        16,589,253 

Total assets

  291,571,159   21,679,154   329,839,566 

Gross additions to utility property

  20,730,140      20,730,140 

Gross investment in affiliates

 $  $76,385  $76,385