BUSINESS SEGMENTS

12 Months Ended

Sep. 30, 2020

BUSINESS SEGMENTS

BUSINESS SEGMENTS

13. BUSINESS SEGMENTS:

The Company has two reportable business segments: the wholesale distribution of consumer products and the retail sale of health and natural food products. The retail health food stores’ operations are aggregated to comprise the Retail Segment because such operations have similar economic characteristics, as well as similar characteristics with respect to the nature of products sold, the type and class of customers for the health food products and the methods used to sell the products. Included in the “Other” column are intercompany eliminations, and assets held and charges incurred by our holding company. The segments are evaluated on revenues, gross margins, operating income (loss), and income before taxes.

	Wholesale		Retail
	Segment		Segment		Other		Consolidated
FISCAL YEAR ENDED 2020:
External revenues:
Cigarettes	$	1,045,661,081	$	—	$	—	$	1,045,661,081
Tobacco		227,807,266		—		—		227,807,266
Confectionery		82,910,260		—		—		82,910,260
Health food		—		46,010,692		—		46,010,692
Foodservice & other		118,889,464		—		—		118,889,464
Total external revenue		1,475,268,071		46,010,692		—		1,521,278,763
Depreciation		1,791,414		1,325,035		—		3,116,449
Amortization		—		—		—		—
Operating income (loss)		17,291,306		(1,824,416)		(6,385,904)		9,080,986
Interest expense		128,672		—		1,564,579		1,693,251
Income (loss) from operations before taxes		17,207,935		(1,814,850)		(7,891,074)		7,502,011
Equity method investment earnings, net of tax		—		—		183,579		183,579
Total assets		158,292,477		19,124,233		10,584,563		188,001,273
Capital expenditures		2,071,956		1,215,364		—		3,287,320
FISCAL YEAR ENDED 2019:
External revenue:
Cigarettes	$	955,667,916	$	—	$	—	$	955,667,916
Tobacco		197,678,519		—		—		197,678,519
Confectionery		83,130,063		—		—		83,130,063
Health food		—		44,210,688		—		44,210,688
Foodservice & other		111,700,971		—		—		111,700,971
Total external revenue		1,348,177,469		44,210,688		—		1,392,388,157
Depreciation		1,569,178		1,006,746		—		2,575,924
Amortization		41,667		—		—		41,667
Operating income (loss)		17,280,500		(4,731,717)		(6,199,095)		6,349,688
Interest expense		145,980		—		1,452,884		1,598,864
Income (loss) from operations before taxes		17,186,295		(4,722,375)		(7,651,977)		4,811,943
Total assets		143,541,723		14,028,232		141,667		157,711,622
Capital expenditures		2,982,273		1,524,007		—		4,506,280