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Other Investments
 9 Months Ended
Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Other Investments Other Investments
In October 2015, Midstream acquired an initial 1% equity interest in the LLC. In November 2019, the Company's Board of Directors approved a pro-rata increase in Midstream's participation that will increase its equity interest to approximately 1.03% at the MVP's completion. Once in-service, the MVP will transport approximately 2 million decatherms of natural gas per day.

Pipeline construction has been delayed due to regulatory and legal challenges that have restricted the recent focus to maintenance and restoration activities. As a result, the projected cost is expected to range from $5.4 to $5.7 billion, with Midstream's total cash contribution expected to range from $57 to $59 million. The managing partner extended the estimated in-service date to early calendar 2021. The Company is utilizing the equity method to account for the transactions and activity of the investment in MVP and is participating in the earnings in proportion to its level of investment.

In April 2018, the LLC announced the Southgate project, which is an approximately 75 mile pipeline extending from the MVP in Virginia to delivery points in North Carolina. Midstream is a less than 1% investor in the project, which is being accounted for under the cost method. Total project cost is estimated to be nearly $500 million, of which Midstream's portion is estimated to be approximately $2.1 million. The Southgate in-service date is currently targeted for late calendar year 2021.

Funding for Midstream's investments in the LLC for both the MVP and Southgate projects is being provided through two variable rate unsecured promissory notes under a non-revolving credit agreement, maturing in December 2022, and two additional notes issued in June 2019. See Note 7 for a schedule of debt instruments.

The investments in the LLC are included in the condensed consolidated financial statements as follows:
Balance Sheet location:June 30, 2020September 30, 2019
Other Assets:
     MVP$54,494,911  $47,055,426  
     Southgate361,799  320,033  
     Investment in unconsolidated affiliates$54,856,710  $47,375,459  
Current Liabilities:
     MVP$2,388,167  $4,958,260  
     Southgate39,231  66,564  
     Capital contributions payable$2,427,398  $5,024,824  
Three Months EndedNine Months Ended
Income Statement location:June 30, 2020June 30, 2019June 30, 2020June 30, 2019
    Equity in earnings of unconsolidated affiliate$1,205,574  $777,193  $3,488,253  $2,038,417  

June 30, 2020September 30, 2019
Undistributed earnings, net of income taxes, of MVP in retained earnings$5,857,553  $3,267,176  

The change in the investment in unconsolidated affiliates is provided below:
Nine Months Ended
June 30, 2020June 30, 2019
Cash investment$6,590,424  $16,650,944  
Change in accrued capital calls(2,597,426) (3,015,078) 
Equity in earnings of unconsolidated affiliate3,488,253  2,038,417  
Change in investment in unconsolidated affiliates$7,481,251  $15,674,283  

Summary unaudited financial statements of MVP are presented below. Southgate financial statements, which are accounted for under the cost method, are not included:
Income Statements
Three Months EndedNine Months Ended
June 30, 2020June 30, 2019June 30, 2020June 30, 2019
AFUDC$120,874,005  $78,261,970  $348,654,366  $199,400,095  
Other Income (Expense), net(18,925) 1,771,678  680,682  5,055,405  
Net Income$120,855,080  $80,033,648  $349,335,048  $204,455,500  

Balance Sheets
June 30, 2020September 30, 2019
Assets:
Current Assets$265,509,949  $485,323,892  
Construction Work in Progress5,322,878,940  4,675,267,389  
Other Assets 4,597,441  13,190,816  
Total Assets$5,592,986,330  $5,173,782,097  
Liabilities and Equity:
Current Liabilities$197,319,584  $466,776,233  
Noncurrent Liabilities315,000  —  
Capital5,395,351,746  4,707,005,864  
Total Liabilities and Equity$5,592,986,330  $5,173,782,097