Schedule of Segment Reporting Information, by Segment |
Income statements and capital expenditures by segment are shown in the following tables. | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended September 30, 2024 | | Distribution | | Pipeline and Storage | | | | Eliminations | | Consolidated | | (In thousands) | Operating revenues from external parties | $ | 3,912,134 | | | $ | 253,053 | | | | | $ | — | | | $ | 4,165,187 | | Intersegment revenues | 3,007 | | | 684,976 | | | | | (687,983) | | | — | | Total operating revenues | 3,915,141 | | | 938,029 | | | | | (687,983) | | | 4,165,187 | | Purchased gas cost | 1,620,515 | | | 146 | | | | | (686,968) | | | 933,693 | | Operation and maintenance expense | 601,370 | | | 218,782 | | | | | (1,015) | | | 819,137 | | Depreciation and amortization expense | 491,982 | | | 177,990 | | | | | — | | | 669,972 | | Taxes, other than income | 346,840 | | | 40,183 | | | | | — | | | 387,023 | | Operating income | 854,434 | | | 500,928 | | | | | — | | | 1,355,362 | | Other non-operating income | 30,106 | | | 40,940 | | | | | — | | | 71,046 | | Interest charges | 117,086 | | | 73,546 | | | | | — | | | 190,632 | | Income before income taxes | 767,454 | | | 468,322 | | | | | — | | | 1,235,776 | | Income tax expense | 96,041 | | | 96,840 | | | | | — | | | 192,881 | | Net income | $ | 671,413 | | | $ | 371,482 | | | | | $ | — | | | $ | 1,042,895 | | Capital expenditures | $ | 2,249,280 | | | $ | 687,844 | | | | | $ | — | | | $ | 2,937,124 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Year Ended September 30, 2023 | | Distribution | | Pipeline and Storage | | Eliminations | | Consolidated | | (In thousands) | Operating revenues from external parties | $ | 4,096,661 | | | $ | 178,696 | | | $ | — | | | $ | 4,275,357 | | Intersegment revenues | 3,029 | | | 606,478 | | | (609,507) | | | — | | Total operating revenues | 4,099,690 | | | 785,174 | | | (609,507) | | | 4,275,357 | | Purchased gas cost | 2,061,920 | | | (1,220) | | | (608,527) | | | 1,452,173 | | Operation and maintenance expense | 565,179 | | | 200,707 | | | (980) | | | 764,906 | | Depreciation and amortization expense | 434,721 | | | 169,606 | | | — | | | 604,327 | | Taxes, other than income | 345,244 | | | 41,560 | | | — | | | 386,804 | | | | | | | | | | Operating income | 692,626 | | | 374,521 | | | — | | | 1,067,147 | | Other non-operating income | 24,988 | | | 44,787 | | | — | | | 69,775 | | Interest charges | 77,185 | | | 60,096 | | | — | | | 137,281 | | Income before income taxes | 640,429 | | | 359,212 | | | — | | | 999,641 | | Income tax expense | 60,032 | | | 53,747 | | | — | | | 113,779 | | Net income | $ | 580,397 | | | $ | 305,465 | | | $ | — | | | $ | 885,862 | | Capital expenditures | $ | 1,927,125 | | | $ | 878,848 | | | $ | — | | | $ | 2,805,973 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Year Ended September 30, 2022 | | Distribution | | Pipeline and Storage | | Eliminations | | Consolidated | | (In thousands) | Operating revenues from external parties | $ | 4,031,936 | | | $ | 169,726 | | | $ | — | | | $ | 4,201,662 | | Intersegment revenues | 3,258 | | | 523,934 | | | (527,192) | | | — | | Total operating revenues | 4,035,194 | | | 693,660 | | | (527,192) | | | 4,201,662 | | Purchased gas cost | 2,210,302 | | | (1,583) | | | (526,063) | | | 1,682,656 | | Operation and maintenance expense | 518,443 | | | 192,847 | | | (1,129) | | | 710,161 | | Depreciation and amortization expense | 387,858 | | | 147,797 | | | — | | | 535,655 | | Taxes, other than income | 314,046 | | | 38,162 | | | — | | | 352,208 | | | | | | | | | | Operating income | 604,545 | | | 316,437 | | | — | | | 920,982 | | Other non-operating income | 6,946 | | | 26,791 | | | — | | | 33,737 | | Interest charges | 49,921 | | | 52,890 | | | — | | | 102,811 | | Income before income taxes | 561,570 | | | 290,338 | | | — | | | 851,908 | | Income tax expense | 39,593 | | | 37,917 | | | — | | | 77,510 | | Net income | $ | 521,977 | | | $ | 252,421 | | | $ | — | | | $ | 774,398 | | Capital expenditures | $ | 1,675,798 | | | $ | 768,622 | | | $ | — | | | $ | 2,444,420 | |
Balance sheet information at September 30, 2024 and 2023 by segment is presented in the following tables. | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | | Distribution | | Pipeline and Storage | | Eliminations | | Consolidated | | (In thousands) | Property, plant and equipment, net | $ | 16,372,659 | | | $ | 5,831,708 | | | $ | — | | | $ | 22,204,367 | | Total assets | $ | 24,328,877 | | | $ | 6,181,558 | | | $ | (5,315,970) | | | $ | 25,194,465 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2023 | | Distribution | | Pipeline and Storage | | Eliminations | | Consolidated | | (In thousands) | Property, plant and equipment, net | $ | 14,402,578 | | | $ | 5,204,005 | | | $ | — | | | $ | 19,606,583 | | Total assets | $ | 21,716,467 | | | $ | 5,504,972 | | | $ | (4,704,471) | | | $ | 22,516,968 | | | | | | | | | |
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Schedule of Revenue from External Customers by Products and Services |
The following table summarizes our revenues from external parties, excluding intersegment revenues, by products and services for the fiscal years ended September 30. | | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | 2022 | | (In thousands) | Distribution revenues: | | | | | | Gas sales revenues: | | | | | | Residential | $ | 2,583,681 | | | $ | 2,638,689 | | | $ | 2,492,116 | | Commercial | 1,016,675 | | | 1,112,236 | | | 1,126,189 | | Industrial | 100,596 | | | 151,970 | | | 224,632 | | Public authority and other | 52,180 | | | 62,476 | | | 66,956 | | Total gas sales revenues | 3,753,132 | | | 3,965,371 | | | 3,909,893 | | Transportation revenues | 132,608 | | | 119,371 | | | 110,905 | | Other gas revenues | 26,394 | | | 11,919 | | | 11,138 | | Total distribution revenues | 3,912,134 | | | 4,096,661 | | | 4,031,936 | | Pipeline and storage revenues | 253,053 | | | 178,696 | | | 169,726 | | Total operating revenues | $ | 4,165,187 | | | $ | 4,275,357 | | | $ | 4,201,662 | |
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