Operating segments are defined as components of an enterprise for which separate financial information is available and is evaluated regularly by the Company's chief operating decision maker in deciding how to allocate resources and assess performance. The Company uses operating income and equity in earnings to assess segment performance.

Gas Utility - The natural gas segment of the Company generates revenue from its tariff rates and other regulatory mechanisms through which it provides the sale and distribution of natural gas to its residential, commercial and industrial customers.

Investment in Affiliates - The investment in affiliates segment reflects the income generated through the activities of the Company's investment in the MVP and Southgate projects.

Parent and Other - The category parent and other includes the unregulated activities of the Company as well as certain corporate eliminations.


	Three Months Ended June 30, 2020
	Gas Utility		Investment in Affiliates		Parent and Other		Consolidated Total
Operating revenues	$	10,856,453	$	—	$	215,465	$	11,071,918
Depreciation	1,988,505		—		—		1,988,505
Operating income (loss)	1,291,678		(55,097)		99,082		1,335,663
Equity in earnings	—		1,205,574		—		1,205,574
Interest expense	667,702		318,501		—		986,203
Income before income taxes	674,351		834,054		99,185		1,607,590


	Three Months Ended June 30, 2019
	Gas Utility		Investment in Affiliates		Parent and Other		Consolidated Total
Operating revenues	$	11,534,948	$	—	$	148,002	$	11,682,950
Depreciation	1,905,475		—		—		1,905,475
Operating income (loss)	1,629,681		(51,896)		59,272		1,637,057
Equity in earnings	—		777,193		—		777,193
Interest expense	604,863		320,835		—		925,698
Income before income taxes	1,016,963		406,246		59,376		1,482,585


	Nine Months Ended June 30, 2020
	Gas Utility		Investment in Affiliates		Parent and Other		Consolidated Total
Operating revenues	$	52,757,778	$	—	$	537,324	$	53,295,102
Depreciation	5,965,226		—		—		5,965,226
Operating income (loss)	13,321,691		(163,214)		258,781		13,417,258
Equity in earnings	—		3,488,253		—		3,488,253
Interest expense	2,048,552		1,061,129		—		3,109,681
Income before income taxes	11,795,644		2,269,106		259,171		14,323,921


	Nine Months Ended June 30, 2019
	Gas Utility		Investment in Affiliates		Parent and Other		Consolidated Total
Operating revenues	$	57,630,278	$	—	$	544,378	$	58,174,656
Depreciation	5,716,425		—		—		5,716,425
Operating income (loss)	11,014,558		(125,177)		215,381		11,104,762
Equity in earnings	—		2,038,417		—		2,038,417
Interest expense	1,766,611		868,518		—		2,635,129
Income before income taxes	9,485,089		1,048,922		215,667		10,749,678