REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

3 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Summary of impact of adoption to our condensed consolidated statements of operations and balance sheets

		October 1, 2018
		Pre-606 Balances		606 Adjustments			Adjusted Balances
ASSETS
Current assets:
	Accounts and other receivables, net of allowance for doubtful accounts	$	1,965,000	$	(308,000	)	$	1,657,000
	Other current assets	950,000		687,000			1,637,000
LIABILITIES AND EQUITY
Current liabilities:
	Other current liabilities	54,000		359,000			413,000
Equity:
	Retained earnings	13,253,000		20,000			13,273,000

In accordance with Topic 606, the disclosure of the impact of adoption to the Company’s Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets was as shown below. There were no impacts to the oil and natural gas or land investment segments.

		Three months ended December 31, 2018
		Impact of changes in accounting policies
		As Reported			Balances without adoption of Topic 606			Effect of change increase (decrease)
Revenues:
	Contract drilling	$	1,163,000		$	741,000		$	422,000
Costs and expenses:
	Contract drilling operating	1,316,000			893,000			423,000
Loss before equity in loss of affiliates and income taxes		(4,599,000		)	(4,598,000		)	(1,000		)
Loss before income taxes		(4,678,000		)	(4,677,000		)	(1,000		)
Net loss		(4,573,000		)	(4,572,000		)	(1,000		)
Less: Net earnings attributable to non-controlling interests		27,000			27,000			—
Net loss attributable to Barnwell Industries, Inc. stockholders		$	(4,600,000	)	$	(4,599,000	)	$	(1,000	)
Basic and diluted net loss per common share attributable to Barnwell Industries, Inc. stockholders		$	(0.56	)	$	(0.56	)	$	—

		December 31, 2018
		Impact of changes in accounting policies
		As Reported		Balances without adoption of Topic 606		Effect of change increase (decrease)
ASSETS
Current assets:
	Accounts and other receivables, net of allowance for doubtful accounts	$	1,465,000	$	1,819,000	$	(354,000	)
	Other current assets	1,765,000		1,031,000		734,000
LIABILITIES AND EQUITY
Current liabilities:
	Other current liabilities	452,000		91,000		361,000
Equity:
	Retained earnings	8,673,000		8,654,000		19,000

Summary of disaggregation of revenue

The following table provides information about disaggregated revenue by revenue streams, reportable segments, geographical region, and timing of revenue recognition for the three months ended December 31, 2018.

		Three months ended December 31, 2018
		Oil and natural gas		Contract drilling		Land investment		Other		Total
Revenue streams:
	Oil	$	896,000	$	—	$	—	$	—	$	896,000
	Natural gas	162,000		—		—		—		162,000
	Natural gas liquids	174,000		—		—		—		174,000
	Drilling and pump	—		1,163,000		—		—		1,163,000
	Contingent residual payments	—		—		165,000		—		165,000
	Other	—		—		—		14,000		14,000
	Total revenues before interest income	$	1,232,000	$	1,163,000	$	165,000	$	14,000	$	2,574,000
Geographical regions:
	United States	$	—	$	1,163,000	$	165,000	$	—	$	1,328,000
	Canada	1,232,000		—		—		14,000		1,246,000
	Total revenues before interest income	$	1,232,000	$	1,163,000	$	165,000	$	14,000	$	2,574,000
Timing of revenue recognition:
	Goods transferred at a point in time	$	1,232,000	$	—	$	165,000	$	14,000	$	1,411,000
	Services transferred over time	—		1,163,000		—		—		1,163,000
	Total revenues before interest income	$	1,232,000	$	1,163,000	$	165,000	$	14,000	$	2,574,000

Summary of contract with customer, asset and liability

The following table provides information about accounts receivables, contract assets and contract liabilities from contracts with customers:

	October 1, 2018		December 31, 2018
Accounts receivables from contracts with customers	$	1,245,000	$	1,074,000
Contract assets	267,000		405,000
Contract liabilities	400,000		441,000