Schedule of Other Investments |
The investments in the LLC are included in the condensed consolidated financial statements as follows:
| | | | | | | | | Balance Sheet location of Other Investments: | December 31, 2019 | | September 30, 2019 | Other Assets: | | | | MVP | $ | 49,055,748 |
| | $ | 47,055,426 |
| Southgate | 320,033 |
| | 320,033 |
| Investment in unconsolidated affiliates | $ | 49,375,781 |
| | $ | 47,375,459 |
|
| | | | | | | | | Current Liabilities: | | | | MVP | $ | 891,903 |
| | $ | 4,958,260 |
| Southgate | — |
| | 66,564 |
| Capital contributions payable | $ | 891,903 |
| | $ | 5,024,824 |
|
| | | | | | | | | | Three Months Ended | Income Statement location of Other Investments: | December 31, 2019 | | December 31, 2018 | Equity in earnings of unconsolidated affiliate | $ | 1,094,086 |
| | $ | 563,049 |
|
| | | | | | | | | | December 31, 2019 | | September 30, 2019 | Undistributed earnings, net of income taxes, of MVP in retained earnings | $ | 4,079,644 |
| | $ | 3,267,176 |
|
The change in the investment in unconsolidated affiliate is provided below: | | | | | | | | | | Three Months Ended | | December 31, 2019 | | December 31, 2018 | Cash investment | $ | 5,039,157 |
| | $ | 10,142,766 |
| Change in accrued capital calls | (4,132,921 | ) | | (6,395,680 | ) | Equity in earnings of unconsolidated affiliates | 1,094,086 |
| | 563,049 |
| Change in investment in unconsolidated affiliates | $ | 2,000,322 |
| | $ | 4,310,135 |
|
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Summary Unaudited Financial Statements - Equity Method Investment |
Summary of unaudited financial statements of Mountain Valley Pipeline are presented below. Southgate financial statements, which are accounted for under the cost method, are not included: | | | | | | | | | | Income Statements | | Three Months Ended | | December 31, 2019 | | December 31, 2018 | AFUDC | $ | 110,025,474 |
| | $ | 54,184,516 |
| Net Other Income | $ | 734,182 |
| | $ | 2,562,792 |
| Net Income | $ | 110,759,656 |
| | $ | 56,747,308 |
|
| | | | | | | | | | Balance Sheets | | December 31, 2019 | | September 30, 2019 | Assets: | | | | Current Assets | $ | 243,577,729 |
| | $ | 485,323,892 |
| Construction Work in Progress | 4,941,631,920 |
| | 4,675,267,389 |
| Other Assets | 9,923,000 |
| | 13,190,816 |
| Total Assets | $ | 5,195,132,649 |
| | $ | 5,173,782,097 |
| | | | | Liabilities and Equity: | | | | Current Liabilities | $ | 223,678,580 |
| | $ | 466,776,233 |
| Capital | 4,971,454,069 |
| | 4,707,005,864 |
| Total Liabilities and Equity | $ | 5,195,132,649 |
| | $ | 5,173,782,097 |
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