REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables)

6 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Information related to the Company's various reporting segments and other operations is detailed below:

	Three Months Ended				Six Months Ended
	March 31,				March 31,
(Thousands)	2023		2022		2023		2022
Operating revenues
Natural Gas Distribution
External customers	$	400,500	$	463,474	$	757,909	$	737,909
Intercompany	338		338		675		675
Clean Energy Ventures
External customers	14,406		11,827		27,198		22,010
Energy Services
External customers (1)	196,553		411,069		509,952		776,857
Intercompany	177		1,576		8,560		5,032
Storage and Transportation
External customers	19,303		12,805		45,017		24,389
Intercompany	1,584		537		2,708		1,096
Subtotal	632,861		901,626		1,352,019		1,567,968
Home Services and Other
External customers	13,265		13,141		27,518		26,993
Intercompany	183		81		196		180
Eliminations	(2,282)		(2,532)		(12,139)		(6,983)
Total	$	644,027	$	912,316	$	1,367,594	$	1,588,158
Depreciation and amortization
Natural Gas Distribution	$	25,319	$	23,344	$	50,209	$	46,237
Clean Energy Ventures	6,465		5,311		12,041		10,544
Energy Services (2)	62		32		119		60
Storage and Transportation	6,020		2,571		11,962		4,704
Subtotal	37,866		31,258		74,331		61,545
Home Services and Other	224		203		442		407
Eliminations	—		(26)		—		(124)
Total	$	38,090	$	31,435	$	74,773	$	61,828
Interest income (3)
Natural Gas Distribution	$	376	$	191	$	789	$	384
Energy Services	380		—		649		—
Storage and Transportation	1,684		381		3,085		758
Subtotal	2,440		572		4,523		1,142
Home Services and Other	734		147		1,388		302
Eliminations	(938)		(231)		(1,716)		(455)
Total	$	2,236	$	488	$	4,195	$	989

(1)Includes sales to Canada for the Energy Services segment, which are immaterial.

(2)The amortization of acquired wholesale energy contracts is excluded above and is included in natural gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.

(3)Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.

	Three Months Ended				Six Months Ended
	March 31,				March 31,
(Thousands)	2023		2022		2023		2022
Interest expense, net of capitalized interest
Natural Gas Distribution	$	13,879	$	10,764	$	27,588	$	21,759
Clean Energy Ventures	7,316		5,395		13,211		10,822
Energy Services	2,749		795		5,807		1,470
Storage and Transportation	6,128		1,847		12,835		3,983
Subtotal	30,072		18,801		59,441		38,034
Home Services and Other	189		125		311		369
Total	$	30,261	$	18,926	$	59,752	$	38,403
Income tax provision (benefit)
Natural Gas Distribution	$	23,924	$	29,689	$	38,307	$	42,893
Clean Energy Ventures	(3,005)		(1,952)		(4,842)		(3,998)
Energy Services	5,916		(790)		25,980		19,715
Storage and Transportation	596		714		2,539		1,057
Subtotal	27,431		27,661		61,984		59,667
Home Services and Other	488		256		705		502
Eliminations	2,667		893		875		(552)
Total	$	30,586	$	28,810	$	63,564	$	59,617
Equity in earnings of affiliates
Storage and Transportation	$	977	$	1,256	$	1,886	$	2,312
Eliminations	154		(487)		191		(968)
Total	$	1,131	$	769	$	2,077	$	1,344
Net financial earnings (loss)
Natural Gas Distribution	$	100,697	$	102,783	$	155,361	$	153,863
Clean Energy Ventures	(9,379)		(6,491)		(12,961)		(13,312)
Energy Services	21,125		29,940		73,658		47,507
Storage and Transportation	2,450		4,625		8,693		7,587
Subtotal	114,893		130,857		224,751		195,645
Home Services and Other	813		451		784		898
Eliminations	(3,396)		(1,102)		(2,941)		(567)
Total	$	112,310	$	130,206	$	222,594	$	195,976
Capital expenditures
Natural Gas Distribution	$	92,600	$	52,000	$	174,671	$	125,464
Clean Energy Ventures	13,706		41,176		57,699		66,556
Storage and Transportation	10,122		43,673		29,841		109,048
Subtotal	116,428		136,849		262,211		301,068
Home Services and Other	760		163		900		242
Total	$	117,188	$	137,012	$	263,111	$	301,310
Return of capital from equity investees
Storage and Transportation	$	—	$	(4,000)	$	—	$	(4,000)
Total	$	—	$	(4,000)	$	—	$	(4,000)

Schedule of Assets for Business Segments and Business Operations

The Company's assets for the various reporting segments and business operations are detailed below:

(Thousands)	March 31, 2023		September 30, 2022
Assets at end of period:
Natural Gas Distribution	$	4,194,970	$	4,030,686
Clean Energy Ventures	1,056,744		1,015,065
Energy Services	167,876		333,064
Storage and Transportation	1,007,694		999,520
Subtotal	6,427,284		6,378,335
Home Services and Other	153,914		159,068
Intercompany assets (1)	(285,065)		(275,987)
Total	$	6,296,133	$	6,261,416

(1)Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.

Reconciliation of Consolidated NFE to Consolidated Net Income

A reconciliation of consolidated NFE to consolidated net income is as follows:

	Three Months Ended				Six Months Ended
	March 31,				March 31,
(Thousands)	2023		2022		2023		2022
Net financial earnings	$	112,310	$	130,206	$	222,594	$	195,976
Less:
Unrealized loss (gain) on derivative instruments and related transactions	13,971		42,022		(17,532)		(40,169)
Tax effect	(3,320)		(9,980)		4,167		9,556
Effects of economic hedging related to natural gas inventory	(11,203)		1,155		12,769		24,732
Tax effect	2,662		(274)		(3,035)		(5,877)
Gain on equity method investment	(200)		—		(200)		—
Tax effect	50		—		50		—
NFE tax adjustment	103		1,248		207		387
Net income	$	110,247	$	96,035	$	226,168	$	207,347