BUSINESS SEGMENTS

12 Months Ended

Sep. 30, 2021

BUSINESS SEGMENTS

BUSINESS SEGMENTS

12. 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, equity method investment earnings, net of tax and assets held and charges incurred and income earned by our holding company. The segments are evaluated on revenues, gross margins, operating income (loss), and income (loss) before taxes.

	Wholesale		Retail
	Segment		Segment		Other		Consolidated
FISCAL YEAR ENDED 2021:
External revenues:
Cigarettes	$	1,130,297,314	$	—	$	—	$	1,130,297,314
Tobacco		264,453,836		—		—		264,453,836
Confectionery		92,353,240		—		—		92,353,240
Health food		—		47,321,449		—		47,321,449
Foodservice & other		137,952,742		—		—		137,952,742
Total external revenue		1,625,057,132		47,321,449		—		1,672,378,581
Depreciation		1,905,270		1,187,747		—		3,093,017
Operating income (loss)		24,477,037		1,797,250		(8,449,668)		17,824,619
Interest expense		199,392		—		1,140,168		1,339,560
Income (loss) from operations before taxes		24,354,719		1,809,130		(9,475,562)		16,688,287
Equity method investment earnings, net of tax		—		—		3,357,978		3,357,978
Total assets		157,038,710		18,179,614		13,192,805		188,411,129
Capital expenditures		1,251,617		402,514		—		1,654,131
FISCAL YEAR ENDED 2020:
External revenue:
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
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