0001582244-19-000004.txt : 20190208 0001582244-19-000004.hdr.sgml : 20190208 20190208112759 ACCESSION NUMBER: 0001582244-19-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 59 CONFORMED PERIOD OF REPORT: 20181231 FILED AS OF DATE: 20190208 DATE AS OF CHANGE: 20190208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Corning Natural Gas Holding Corp CENTRAL INDEX KEY: 0001582244 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] IRS NUMBER: 463235589 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55911 FILM NUMBER: 19578594 BUSINESS ADDRESS: STREET 1: 330 WEST WILLIAM STREET CITY: CORNING STATE: NY ZIP: 14830 BUSINESS PHONE: (607) 936-3755 MAIL ADDRESS: STREET 1: 330 WEST WILLIAM STREET CITY: CORNING STATE: NY ZIP: 14830 10-Q 1 cngDec2018_10Q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

R QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2018

£ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 000-00643

CORNING NATURAL GAS HOLDING CORPORATION

(Exact name of Registrant as specified in its charter)

New York	46-3235589
(State of incorporation)	(I.R.S. Employer Identification No.)

330 West William Street, Corning, New York 14830

(Address of principal executive offices) (Zip Code)

(607) 936-3755

(Registrant’s telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes R No £

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files). Yes R No £

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “non-accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer £ Accelerated Filer £ Non-accelerated Filer £ Smaller Reporting Company R Emerging Growth Company £

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. £

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes £ No R

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

Class	Shares outstanding as of February 8, 2019
Common Stock, $.01 par value	3,032,182

PART I. FINANCIAL INFORMATION				Page

	Item 1.	Financial Statements		3

	Item2.	Management’s Discussion and Analysis of Financial		16
			Condition and Results of Operations

	Item 4.	Controls and Procedures		23


PART II. OTHER INFORMATION

	Item 1.	Legal Proceedings		24

	Item 1A.	Risk Factors		24

	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		24

	Item 3.	Defaults Upon Senior Securities		24

	Item 4.	Mine Safety Disclosures		24

	Item 5.	Other Information		24

	Item 6.	Exhibits		24


SIGNATURES				26

PART I

FINANCIAL INFORMATION

Item 1.

Financial Statements.

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets

	Unaudited
Assets	December 31, 2018		September 30, 2018

Plant:
Utility property, plant and equipment	$116,223,363		$114,559,199
Less: accumulated depreciation	(27,599,916	)	(26,966,064	)
Total plant, net	88,623,447		87,593,135

Investments:
Marketable securities at fair value	2,122,337		2,193,578
Investment in joint ventures	2,733,696		2,740,575
	4,856,033		4,934,153

Current assets:
Cash and cash equivalents	549,107		219,962
Customer accounts receivable, (net of allowance for
uncollectible accounts of $179,992 and $228,666, respectively)	5,039,937		3,350,700
Other accounts receivable	242,362		385,987
Related party receivables	289,919		208,876
Gas stored underground, at average cost	1,564,798		1,620,916
Materials and supplies inventories	2,081,183		1,818,974
Prepaid expenses	1,154,633		1,468,030
Total current assets	10,921,939		9,073,445

Regulatory and other assets:
Regulatory assets:
Unrecovered gas and electric costs	776,400		1,236,124
Deferred regulatory costs	4,221,599		4,279,839
Deferred pension	4,100,016		4,043,072
Other	578,254		583,437
Total regulatory and other assets	9,676,269		10,142,472

Total assets	$114,077,688		$111,743,205

See accompanying notes to consolidated financial statements.

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets (continued)

	Unaudited
	December 31, 2018		September 30, 2018
Liabilities and capitalization

Long-term debt, less current installments	$37,083,328		$36,975,484
Less: debt issuance costs	(284,015	)	(338,903	)
Total long-term debt	36,799,313		36,636,581

Redeemable preferred stock - Series A	5,171,265		5,166,082
(Authorized 255,500 shares. Issued and outstanding:
210,600 shares at December 31, 2018 and 210,600 shares at
September 30, 2018, less debt issuance costs of $93,735 and
$98,918, respectively)

Current liabilities:
Current portion of long-term debt	3,861,282		3,793,998
Borrowings under lines-of-credit and short-term debt	8,857,089		6,662,357
Accounts payable	2,274,924		3,247,376
Accrued expenses	405,496		410,237
Customer deposits and accrued interest	1,391,523		1,227,398
Dividends declared	484,901		483,806
Total current liabilities	17,275,215		15,825,172

Deferred credits and other liabilities:
Deferred income taxes	5,097,470		4,896,771
Regulatory liabilities	3,777,495		3,777,495
Deferred compensation	1,453,060		1,412,345
Pension costs and post-retirement benefits	6,110,346		6,016,240
Other	194,656		219,948
Total deferred credits and other liabilities	16,633,027		16,322,799

Commitments and contingencies	—		—

Temporary equity:
Redeemable convertible preferred stock - Series B
(Authorized 244,500 shares. Issued and outstanding:
244,263 shares at December 31 and September 30, 2018)	4,955,609		4,951,847

Common stockholders' equity:
Common stock ($.01 par value per share.	30,297		30,218
Authorized 4,500,000 shares. Issued and
outstanding: 3,029,678 shares at December 31, 2018
and 3,021,851 at September 30, 2018)
Additional paid-in capital	27,452,591		27,320,162
Retained earnings	5,764,774		5,399,751
Accumulated other comprehensive (loss) income	(4,403	)	90,593
Total common stockholders' equity	33,243,259		32,840,724

Total liabilities and capitalization	$114,077,688		$111,743,205

See accompanying notes to consolidated financial statements.

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited)	Three Months Ended
	December 31, 2018		December 31, 2017
Utility operating revenues:
Gas operating revenues	$7,067,078		$5,869,972
Electric operating revenues	2,400,528		1,900,570
Total utility operating revenues	9,467,606		7,770,542

Cost of Sales:
Gas purchased	2,294,669		1,456,190
Electricity purchased	977,230		621,694
Total cost of sales	3,271,899		2,077,884

Gross margin	6,195,707		5,692,658

Cost and expense:
Operating and maintenance expense	2,893,679		2,985,704
Taxes other than income taxes	924,312		837,119
Depreciation	620,364		607,700
Other deductions, net	116,495		76,169
Total costs and expenses	4,554,850		4,506,692

Utility operating income	1,640,857		1,185,966

Other income and (expense):
Interest expense	(610,990	)	(566,534	)
Other income	55,205		55,395
Investment (loss) income	(83,980	)	19,681
Loss from joint ventures	(6,879	)	(1,066	)
Rental income	12,138		12,138

Income from utility operations before income taxes	1,006,351		705,580

Income tax expense, deferred	(256,557	)	(284,943	)


Net income	749,794		420,637
Less Series B Preferred Stock Dividends	61,066		61,066
Net income attributable to common stockholders	688,728		359,571

Weighted average earnings per share-
basic	$0.23		$0.12
diluted	$0.23		$0.12

Average shares outstanding - basic	3,025,308		2,996,755
Average shares outstanding - diluted	3,318,424		2,996,755

See accompanying notes to consolidated financial statements

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Statements of Comprehensive Income
For the Three Months Ended December 31, 2018 and 2017
(Unaudited)
	2018	2017
Net Income	$749,794	$420,637
Other comprehensive income:
Net unrealized gain on debt securities available for sale
net of tax of $2,046 and $19,613, respectively	5,135	28,814
Total other comprehensive income	5,135	28,814

Total comprehensive income	$754,929	$449,451

See accompanying notes to consolidated financial statements.

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Statement of Changes in Stockholders' Equity
For the Three Months Ended December 31, 2018
(Unaudited)

	Number of Shares	Common Stock	Additional Paid in Capital	Retained Earnings		Accumulated Other Comprehensive Income (loss)		Total

Balances at September 30, 2018	3,021,851	$30,218	$27,320,162	$5,399,751		$90,593		$32,840,724

Adoption of accounting standard (See Note 1)	—	—	—	100,131		(100,131	)	—
Issuance of common stock	7,827	79	132,429	—		—		132,508
Dividends declared on common	—	—	—	(423,836	)	—		(423,836	)
Dividends declared on Preferred B
Shares	—	—	—	(61,066	)			(61,066	)


Comprehensive income:
Change in unrealized gain on debt
securities available for sale,
net of income taxes	—	—	—	—		5,135		5,135
Net income	—	—	—	749,794		—		749,794
Balances at December 31, 2018	3,029,678	$30,297	$27,452,591	$5,764,774		($4,403	)	$33,243,259

See accompanying notes to consolidated financial statements

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(Unaudited)
	Three Months Ended
	December 31, 2018		December 31, 2017
Cash flows from operating activities:
Net income	$749,794		$420,637
Adjustments to reconcile net income to net cash
Provided by operating activities:
Depreciation	620,364		607,700
Amortization of debt issuance cost	24,755		32,166
Non-cash pension expenses	235,357		195,013
Regulatory asset amortizations	114,221		96,229
Stock issued for services	89,072		44,628
Loss (gain) on sale of marketable securities	15,018		(8,847	)
Unrealized loss on investments	76,307		—
Deferred income taxes	256,557		284,943
Bad debt expense	70,000		10,001
Loss on joint ventures	6,879		1,066

Changes in assets and liabilities:
(Increase) decrease in:
Accounts receivable	(1,615,612	)	(1,753,700	)
Gas stored underground	56,118		424,055
Materials and supplies inventories	(262,209	)	191,414
Prepaid expenses	313,397		361,557
Unrecovered gas and electric costs	459,724		(549,241	)
Deferred regulatory costs	(64,155	)	308,408
Other	5,183		6,230
Increase (decrease) in:
Accounts payable	(972,452	)	51,544
Accrued expenses	(2,196	)	(33,517	)
Customer deposits and accrued interest	164,125		284,153
Deferred compensation	40,715		39,362
Deferred pension costs & post-retirement benefits	(198,195	)	(253,612	)
Other liabilities and deferred credits	(33,898	)	(126,067	)
Net cash provided by operating activities	148,869		634,122

Cash flows from investing activities:
Purchase of securities, net	(14,949	)	(30,519	)
Amount paid to related parties	(83,588	)	(3,541	)
Capital expenditures	(1,650,676	)	(1,778,640	)
Net cash used in investing activities	(1,749,213	)	(1,812,700	)

Cash flows from financing activities:
Net proceeds under (repayment of) lines-of-credit	2,194,732		(301,392	)
Debt issuance costs paid	—		(105,902	)
Dividends paid	(440,371	)	(424,287	)
Proceeds under long-term debt	1,018,465		29,000,000
Repayment of long-term debt	(843,337	)	(27,248,313	)
Net cash provided by financing activities	1,929,489		920,106
Net increase (decrease) in cash and cash equivalents	329,145		(258,472	)

Cash and cash equivalents at beginning of period	219,962		442,930

Cash and cash equivalents at end of period	$549,107		$184,458

Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$463,336		$552,749
Income taxes	$—		$12,372
Non-cash financing activities:
Dividends paid with shares	$43,436		$40,769
Number of shares issued for dividends	2,115		2,340

See accompanying notes to consolidated financial statements

CORNING NATURAL GAS HOLDING CORPORATION AND SUBSIDIARIES

Notes to Consolidated Financial Statements

(Unaudited)

Note 1 – Basis of Presentation

Corning Natural Gas Holding Corporation (“Holding Company”) was incorporated in New York in July 2013 to serve as a holding company for Corning Natural Gas Corporation (the “Gas Company” or “Corning Gas”) and its dormant subsidiary Corning Natural Gas Appliance Corporation (“Appliance Company”). Pike County Light & Power Company (“Pike”) is also a wholly-owned subsidiary of the Holding Company. The Holding Company has 50% ownership interests in our joint ventures Leatherstocking Gas Company, LLC (“Leatherstocking Gas”), its subsidiary, Leatherstocking Gas Development Corporation, and Leatherstocking Pipeline Company, LLC (“Leatherstocking Pipeline”). As used in this document, the term “the Company” refers to the consolidated operations of the Holding Company, Gas Company, Pike and Appliance Company.

The information furnished herewith reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to SEC rules and regulations, although the Holding Company believes the disclosures which are made are adequate to make the information presented not misleading.

The consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Holding Company’s latest annual report on Form 10-K for the fiscal year ended September 30, 2018 (“Annual Report”), filed on December 20, 2018. These interim consolidated financial statements are unaudited.

Our significant accounting policies are described in the notes to the Consolidated Financial Statements in the Holding Company’s Annual Report. It is important to understand that the application of generally accepted accounting principles in the United States of America involves certain assumptions, judgments and estimates that affect reported amounts of assets, liabilities, revenues and expenses. Thus, the application of these principles can have varying results from company to company.

Because our business is highly seasonal in nature, sales for each quarter of the year vary and are not comparable. Sales vary depending on seasonal variations in temperature, although the Gas Company’s weather normalization and revenue decoupling clauses approved by the New York Public Service Commission (“NYPSC”) serve to stabilize net revenue, by insulating the Gas Company, to an extent, from the effects of unusual temperature variations and conservation. Certain larger customer classes are not covered by weather normalization or revenue decoupling and weather will impact revenue from these classes. Neither Pike nor Leatherstocking have weather normalization or revenue decoupling clauses.

It is the Holding Company’s policy to reclassify amounts in the prior year financial statements to conform to the current year presentation.

Adoption of New Accounting Guidance

On October 1, 2018, we adopted Accounting Standards Update (“ASU”) 2016-01 “Financial Instruments—Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”) and Accounting Standards Codification (“ASC”) 606 – “Revenues from Contracts with Customers” (“ASC 606”).

With respect to ASU 2016-01, we reclassified net after-tax unrealized gains on equity securities of $100,131 as of October 1, 2018 from accumulated other comprehensive income to retained earnings. We continue to carry our investments in equity securities at fair value and there is no change to the asset values or total stockholders’ equity that we would have otherwise recorded. Beginning in fiscal 2019, we are including unrealized gains and losses arising from the changes in the fair values of our equity securities as a component of investment (loss) income in the Consolidated Statements of Income. ASU 2016-01 prohibited the restatement of prior year financial statements and for periods ending prior to 2018, unrealized gains and losses from the changes in fair value of available-for-sale equity securities were recorded in other comprehensive income.

We adopted ASC 606 using the modified retrospective method, whereby the cumulative effect of the adoption is required to be recorded as an adjustment to retained earnings. For the three months ended December 31, 2018, the Company recognized revenues from contracts with customers in accordance with ASC 606. The revenues recognized were equivalent to the revenues that would have been recognized had the Companies not adopted ASC 606 and had recognized all revenues in accordance with ASC 605 – Revenue Recognition (ASC 605). For the three months ended December 31, 2017, the Company recognized revenues, including revenues from contracts with customers, in accordance with ASC 605. No prior period adjustment or charge to retained earnings for cumulative impact was required as a result of the Company’s adoption of ASC 606. ASC 606 also provides for certain other disclosures which are included in Note 2.

New Accounting Pronouncements Not Yet Adopted

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (ASC Topic 842), which requires lessees to recognize substantially all leases on-balance sheet and disclose key information about leasing arrangements. The new standard establishes a right of use ("ROU") model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The new standard is effective for annual and interim periods beginning after December 15, 2018. ASU 2016-02 requires entities to adopt a modified retrospective transition method for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. The Company continues to evaluate the impact that adopting ASU 2016-02 will have on its financial statements, but does not believe it will have a material impact at this time.

Note 2 – Revenue From Contracts With Customers

The following table presents, for the three months ended December 31, 2018, revenue from contracts with customers as defined in ASC 606, as well as additional revenue from sources other than contracts with customers, disaggregated by major source.

	For the three months ended December 31, 2018
	Revenues from contracts with customers	Other revenues (a)		Total utility operating revenues
Corning Gas
Residential gas	$3,970,033	($111,373	)	$3,858,660
Commercial gas	606,705	—		606,705
Transportation	1,118,428	9,141		1,127,569
Street lights gas	129	—		129
Wholesale	764,651	—		764,651
Local production	186,274	6,854		193,128
Total Corning Gas	$6,646,220	($95,378	)	$6,550,842

Pike
Residential gas	$405,780	$7,677		$413,457
Commercial gas	102,779	—		102,779
Total Pike retail gas	508,559	7,677		516,236

Residential electric	1,188,119	22,628		1,210,747
Commercial electric	1,155,486	—		1,155,486
Electric – street lights	34,295	—		34,295
Total Pike retail electric	2,377,900	22,628		2,400,528

Total Pike	$2,886,459	$30,305		$2,916,764

Total consolidated utility operating revenue	$9,532,679	($65,073	)	$9,467,606

(a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 10.

The Gas Company records revenues from residential and commercial customers based on meters read on a cyclical basis throughout each month, while certain large industrial and utility customers’ meters are read at the end of each month. Several meters are read at the end of each month to calculate local production revenues. The Gas Company does not accrue revenue for gas delivered but not yet billed, as the NYPSC requires that such accounting must be adopted during a rate proceeding which the Gas Company has not done. The Gas Company, as part of its currently effective rate plan, has a weather normalization clause as protection against severe weather fluctuations. This affects space heating customers and is activated when degree days are 2.2% greater or less than the 30-year average. As a result, the effect on revenue fluctuations of weather related gas sales is somewhat moderated.

Pike recognizes revenues for electric and gas service on a monthly billing cycle basis. Pike does not accrue for gas and electricity delivered. Pike does not have a weather normalization clause as protection against severe weather.

In addition to weather normalization, the Gas Company has implemented a revenue decoupling mechanism (RDM). The RDM reconciles actual delivery service revenues to allowed delivery service revenues (which are based on the annual customer and volume forecasts in the last rate case) for certain residential customers. The Gas Company will refund or surcharge customers for differences between actual and allowed revenues. The shortfall or excess after the annual reconciliation will be surcharged or refunded to customers over a twelve-month period starting September 1st each year. Pike does not have a revenue decoupling mechanism as part of their rate structure.

Revenues are recorded as energy is delivered, generated or services are provided and billed to customers. Amounts billed are recorded in customer accounts receivable, with payment generally due the following month.

Note 3 - Pension and Other Post-Retirement Benefit Plans

Components of Net Periodic Benefit Cost:

	Pension Benefits Three Months Ended December 31,				Other Benefits Three Months Ended December 31,
	2018		2017			2018		2017
Service Cost	$116,453		$107,161			$4,123		$4,445
Interest Cost	258,774		240,301			11,939		12,060
Expected return on plan assets	(319,966	)	(300,205	)		—		—
Amortization of prior service cost	—		—			888		887
Amortization of net (gain) loss	212,665		242,497			(1,677	)	1,374
Net period benefit cost	$267,926		$289,754			$15,273		$18,766

December 31, 2017. The difference between the pension expense (benefit) for ratemaking purposes, and the actual pension expense has been deferred as a regulatory asset and amounted to $908,892 and $661,743 at December 31, 2018 and 2017, respectively.

The NYPSC has allowed the Gas Company to recover incremental costs associated with other post-retirement benefits through rates on a current basis. Other post-retirement benefit expense (benefit) (OPEB) for ratemaking and financial statement purposes was $15,050 for the three months ended December 31, 2018 and $11,924 for the three months ended December 31, 2017. The difference between the other post-retirement benefit expense (benefit) for ratemaking and financial statement purposes, and the amount computed above has been deferred as a regulatory asset and is not included in the prepaid cost noted above. The net period benefit costs have been included in the income statement in the operating and maintenance expense. Total pension and OPEB costs are recorded in accordance with accounting prescribed by the NYPSC.

Contributions

The Gas Company expects to contribute $711,098 to its Pension Plan. A total of $220,702 has been paid to the Pension Plan for the first three months of this fiscal year and $350,864 was paid for the three months ended December 31, 2017.

Note 4 – Financing Activities

On August 15, 2018, the Gas Company entered into a $3.6 million multiple disbursement term note with M&T which permitted draws from time to time for capital expenditures in accordance with its terms until October 31, 2018 at which time amounts outstanding under the note totaling $3.6 million converted to a ten year term loan, payable in 119 equal monthly installments with an additional final installment of unpaid principal and interest due on November 30, 2028. Before converting to a term loan, borrowings on the note had a variable interest rate of the one-month LIBOR rate plus 3% (5.26% as of September 30, 2018). After October 31, 2018, the interest rate was fixed at 4.71%. Additional terms of this note are substantially the same as those in the Gas Company’s November 2017 Credit Agreement with M&T. As of December 31, 2018, the outstanding balance of this note was approximately $3.5 million.

On December 4, 2018, Pike entered into a demand note with M&T for $510,000, payable in 364 days unless otherwise converted into a term note (“replacement term note”). The note has a fixed interest rate of 4.89%. The intent of the Company is to convert this demand note to a term loan.

We are in compliance with our financial covenant calculations as of December 31, 2018.

Note 5 - Fair Value of Financial Instruments

The Holding Company has determined the fair value of debt and other financial instruments using a valuation hierarchy. The hierarchy, which prioritizes the inputs used in measuring fair value, consists of three levels. Level 1 uses observable inputs such as quoted prices in active markets; Level 2 uses inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, which is defined as unobservable inputs in which little or no market data exists, requires the Holding Company to develop its own assumptions. The carrying amount of debt on the Consolidated Balance Sheets approximates fair value as a result of instruments bearing interest rates that approximate current market rates for similar instruments, and the carrying amounts for cash, accounts receivable and accounts payable approximate fair value due to their short-term nature. Investment assets, which fund the Holding Company’s deferred compensation plan, are valued based on Level 1 inputs.

The Holding Company has determined the fair value of certain assets through application of FASB ASC 820 “Fair Value Measurements and Disclosures”.

Fair value of assets and liabilities measured on a recurring basis at December 31, 2018 and September 30, 2018 are as follows:

Fair Value Measurements at Reporting Date Using:

	Fair Value	Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1)	Level 2	Level 3
December 31, 2018
Available-for-sale securities	$2,122,337	$2,122,337	$0	$0
September 30, 2018
Available-for-sale securities	$2,193,578	$2,193,578	$0	$0

A summary of the marketable securities at December 31, 2018 and September 30, 2018 is as follows:

	Cost Basis	Unrealized Gain	Unrealized Loss	Market Value
December 31, 2018
Cash and equivalents	$167,601	$—	$—	$167,601
Metlife stock value	37,116	—	—	37,116
Government and agency bonds	260,208	—	2,715	257,493
Corporate bonds	188,532	—	3,150	185,382
Mutual funds	22,359	—	208	22,151
Holding Company Preferred A Stock	572,875	22,915	—	595,790
Equity securities	817,850	38,954	—	856,804
Total securities	$2,066,541	$61,869	$6,073	$2,122,337

September 30, 2018
Cash and equivalents	$158,210	$—	$—	$158,210
Metlife stock value	38,197	—	—	38,197
Government and agency bonds	264,376	—	9,246	255,130
Corporate bonds	193,526	—	3,716	189,810
Mutual funds	22,359	—	292	22,067
Holding Company Preferred A Stock	572,875	—	23,144	549,731
Equity securities	813,215	167,218	—	980,433
Total securities	$2,062,758	$167,218	$36,398	$2,193,578

Realized gains included in earnings for the periods reported in investment income are as follows:

Investment Income	Three Months Ended December 31,
	2018		2017
Net gains and losses recognized during the period on investments	$(15,018	)	$8,847

Unrealized losses on equity securities included in investment income for the quarter ended December 31, 2018 were $76,307.

Financial assets and liabilities valued using level 1 inputs are based on unadjusted quoted market prices as of the close of business on the days noted within active markets.

Note 6 – Stockholders’ Equity

For the three months ended December 31, 2018, there were a total of 7,827 shares of common stock issued for $132,508. The amounts issued were for the following:

	Shares	Amount
Dividend reinvestment program (DRIP)	2,527	$43,436
Directors	3,150	48,355
Leatherstocking Gas Company	150	2,717
Officers	2,000	38,000
Total	7,827	$132,508

Shares issued to Leatherstocking Gas were used to compensate its independent director, Carl Hayden.

For the three months ended September 30, 2018, dividends were paid on October 12, 2018 to stockholders of record on September 30, 2018 in the amount of $422,740. For the quarter ended December 31, 2018, $423,836 was accrued for dividends paid on January 14, 2019 to stockholders of record on December 31, 2018.

Series A Cumulative Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14th day of April, July, October and January of each year and began October 14, 2016. For the three months ended September 30, 2018, dividends were paid on October 12, 2018 in the amount of $78,975. For the three months ended December 31, 2018, $78,975 was accrued for dividends paid on January 14, 2019. Dividends on the Series A Cumulative Preferred Stock are reported as interest expense. Series B Convertible Preferred Stock accrues cumulative dividends at a rate of 4.8% of the liquidation preference per share ($20.75) and are expected to be paid on or about the 14th day of April, July, October and January of each year and began October 14, 2016. At September 30, 2018 there was $61,066 accrued for Series B dividends paid on October 12, 2018. For the three months ended December 31, 2018, $61,066 was accrued for dividends paid on January 14, 2019. See Note 9 for additional information on the preferred stock, including its mandatory redemption provisions.

Basic earnings per share are computed by dividing income available for common stock (net income less dividends declared on Series B Preferred Stock) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.

244,263 shares of Series B Convertible Preferred Stock were excluded from the calculation of diluted earnings per share for the quarter ended December 31, 2017 because their inclusion would have been anti-dilutive.

Note 7 – Investment in Joint Ventures

The Holding Company has an interest in Leatherstocking Gas and Leatherstocking Pipeline (the Joint Venture), each of which is a joint venture with Mirabito Regulated Industries, LLC, accounted for by the equity method.

The following table represents the Holding Company’s investment activity in the Joint Ventures for the three months ended December 31, 2018 and December 31, 2017:

	2018		2017
Beginning balance in investment in joint ventures	$2,740,575		$2,707,406
Loss in joint ventures	(6,879	)	(1,066	)
Ending balance in joint ventures	$2,733,696		$2,706,340

As of and for the three months ended December 31, 2018 and 2017, the Joint Ventures financial summary is as follows:

	2018	2017
Total assets	$13,300,000	$13,300,000
Total liabilities	$7,800,000	$7,900,000
Net loss	$13,758	$2,133

Note 8 – Effective Tax Rate

Income tax expense for the three months ended December 31 is as follows:

	2018	2017
Current	$—	$—
Deferred	256,557	284,943
Total	$256,557	$284,943

Actual income tax expense differs from the expected tax expense (computed by applying the

federal corporate tax rate of 21% before income tax expense) as follows:

	2018		2017
Expected federal tax expense	$211,333		$239,876
State tax expense (net of federal)	59,126		30,923
Federal Income Sur Credit Amortization	14,679		—
Prior Period Tax Write off	(21,232	)	—
Other, net	(7,349	)	14,144
Actual tax expense	$256,557		$284,943

On December 22, 2017, the federal Tax Cuts and Jobs Act (“Tax Act”) was signed into law. The Tax Act makes significant changes to the federal tax structure, which will impact the tax liabilities of utility companies. On August 9, 2018 The NYSPSC issued an order in Case 17-M-0815 that required the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. The refund to customers began on October 1, 2018. Impacted customers will experience a decrease of 5.20% on their overall bill in the year starting October 1, 2018 and 7.83% in the year starting October 1, 2019. The amounts returned to customers will be $1,317,719 and $2,112,540 respectively. These refunds will not impact the Company’s allowed earnings. The impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

The PAPUC issued an order in Case M-2018-2641242 that require the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. Pike’s electric customers will receive a total refund of $73,923 or decrease of 0.67% on their overall bill effective October 1, 2018. No refunds were ordered for Pike’s gas operation because amounts were not material. The impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

Note 9 – Preferred Stock

The Holding Company filed a Registration Statement on Form S-1 with the Securities and Exchange Commission with respect to a subscription rights offering to its stockholders to issue up to approximately $11.0 million in preferred stock. The subscription rights were distributed on a one-for-one basis to stockholders of record as of April 14, 2016 and expired on June 20, 2016. The Form S-1 covered 2,469,861 subscription rights for the purchase of up to 140,000 shares of 6% Series A Preferred Stock and up to 360,000 shares of 4.8% Series B Preferred Stock. Each subscription right entitled the holder to purchase either: (i) one-eighth share of the 6% Series A Preferred Stock, par value $0.01 per share, for $25.00 per share, or (ii) one-sixth share of the 4.8% Series B Preferred Stock, par value $0.01 per share, for $20.75 per share, which is convertible in accordance with its terms into 1.2 shares of common stock, subject to adjustment. Of the 140,000 shares of Series A Preferred Stock available, 105,303 shares were subscribed and of the 360,000 shares of Series B Preferred Stock available, 244,263 shares were subscribed. In August of 2017 the Company privately placed an additional 105,297 shares of Series A Preferred Stock.

Series A Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14^th day of April, July, October and January of each year. The dates of record for the dividends, are March 31, June 30, September 30 and December 31, immediately preceding the relevant dividend payment date. On September 30, 2023, outstanding shares of Series A Preferred Stock will mature and be redeemed solely in cash at a redemption price equal to the liquidation preference per share plus an amount equal to all accrued but unpaid dividends subject to our having funds legally available for redemption under New York law. The dividends for the three months ended December 31, 2018 and 2017 were $82,512 and $78,975, respectively, and these are recorded as interest expense.

In accordance with ASC 480, because of the mandatory redemption feature this is treated as liability. The issuance costs are treated as debt issuance costs and will be amortized over the life of the instrument. The debt issuance costs reduce the carrying value of the liability. The amortization of the Series A Preferred Stock debt issuance costs was $5,183 and $2,538 for the three months ended December 31, 2018 and 2017, respectively.

Series B Preferred Stock accrues cumulative dividends at a rate of 4.8% of the liquidation preference per share ($20.75) and are expected to be paid on or about the 14th day of April, July, October and January of each year. The dates of record for the dividends, if any, will be March 31, June 30, September 30 and December 31, immediately preceding the relevant dividend payment date. Our president, Michael German, owns 9,000 of these shares.

Although by its terms the Series B Preferred Stock is mandatorily redeemable on September 30, 2026, in accordance with ASC 480 it is not considered mandatorily redeemable for accounting purposes as a result of the conversion feature presenting a contingency related to the redemption dates. Accordingly, this is not considered a liability. However, as a result of the decision related to conversion and not reaching redemption resting with the holder, this instrument has been classified as temporary equity in accordance with ASC 480. Upon conversion, the instrument would be reclassified as permanent equity. Dividends were $61,066 for both the three months ended December 31, 2018 and 2017. The issuance costs of approximately $120,000 reduced the initial proceeds and will be accreted until redemption or conversion. During both the three months ended December 31, 2018 and 2017 there was accretion of $3,762.

Note 10 – Regulatory Matters

On June 17, 2016, the Gas Company filed with the NYPSC a three-year plan to implement a levelized increase in revenues from gas delivery service of $3,463,287 in each year over the period June 1, 2017 through May 31, 2020, resulting in total bill impacts on customers in each year of 10.4%.

On June 15, 2017, the NYPSC, in Case 16-G-0369, issued an Order Adopting Terms of Joint Proposal and Establishing Gas Rate Plan (the “June 2017 Order”) adopting without substantive modification a Joint Proposal (the “2017 Joint Proposal”) among the Gas Company, the Staff of the Department of Public Service, and multiple intervenors (which represent large industrial customers) to resolve all issues in Case 16-G-0369. As adopted by the June 2017 Order, the 2017 Joint Proposal is a comprehensive settlement extending for three consecutive Rate Years (the twelve months ending May 31, 2018, 2019 and 2020) and permits Corning Gas to increase its base rates for gas delivery service. The new base rates under the June 2017 Order, when offset by the elimination of existing surcharges at the beginning of Rate Year 1 and levelized over the three Rate Years, result in the following incremental revenue increases over the prior Rate Year: Rate Year 1 - $1,558,553, Rate Year 2 - $1,573,706, and Rate Year 3 - $1,566,594, equating to increases of approximately 6.2%, 5.9% and 5.5%, respectively, as a percentage of total delivery revenues including gas costs. The 2017 Joint Proposal, as adopted, permits a rate of return on common equity of 9.0%, and an “Earnings Sharing Mechanism” that provides for Corning Gas to retain all earnings above 9.00% up to and including 9.50%, and for customers to retain 50% of the earnings above 9.50% up to and including 10.00%, 75% of earnings above 10.00% up to and including 10.50%, and 90% of earnings above 10.50%.

The 2017 Joint Proposal, as adopted, provides true-ups for property taxes, pension costs, plant expenditures, large customer revenue, local production revenue and continues performance metrics for safety and customer satisfaction from the prior rate case. Although the stringency of certain performance measures and the amount of certain negative revenue adjustments for failure to meet specific standards are increased, the 2017 Joint Proposal, as approved by the June 2017 Order, also provides opportunities for positive revenue adjustments for exceeding applicable standards with regard to certain measures. Because the June 2017 Order approving the 2017 Joint Proposal was issued after the June 1, 2017 commencement of Rate Year 1 of the three-year rate plan and new rates did not go into effect until July 1, 2017, the 2017 Order provided for each of the Gas Company and its customers to be placed in the same position in which they would have been if the new rates had gone into effect as of June 1, 2017. Any resulting revenue adjustments in favor of the Gas Company are deferred for future recovery, with interest. The Rate Year 2 rate increase of $1,573,706 became effective June 1, 2018.

On August 9, 2018 The NYSPSC issued an order in Case 17-M-0815 that required the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. The refund to customers began on October 1, 2018. Customers will experience an average decrease of 5.20% on their overall bill in the year starting October 1, 2018 and 7.83% in the year starting October 1, 2019. The amounts returned to customers will be $1,317,719 and $2,112,540 respectively. These refunds will not impact the Company’s allowed earnings.

In addition, the impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

The PAPUC issued an order in Case M-2018-2641242 that require the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. Pike’s electric customers will receive a refund of $73,923 or decrease of 0.67% on their overall bill effective October 1, 2018. No refunds were ordered for Pike’s gas operation because amounts were not material. The impact of the change in the Tax Act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

Total Regulatory Assets on the Accompanying Balance Sheets as of December 31, 2018 amounts to $9,098,015 compared to $9,559,035 at September 30, 2018. The Regulatory Assets include $1,544,347 at December 31, 2018 and $1,544,347 at September 30, 2018 that is subject to Deferred Accounting Petitions and $908,892 at December 31, 2018 and $845,708 at September 30, 2018 that is under regulatory audit. The remaining items in regulatory assets are either approved in rates, part of annual reconciliations approved by the NYSPSC and PAPUC or approved through various commission directives.

Note 11 – Segment Reporting

The Company’s reportable segments have been determined based upon the nature of the products and services offered, customer base, availability of discrete internal financial information, homogeneity of products, delivery channel and other factors.

The Gas Company is a gas distribution company providing gas on a commodity and transportation basis to its customers in the Southern Tier of New York State. Pike provides electricity and natural gas to Pike County, Pennsylvania. The Holding Company is the parent company of all subsidiaries and has a 50% ownership in the Leatherstocking joint ventures. The Appliance Company’s information is presented with the Holding Company as it has little activity.

The following table reflects the results of the segments consistent with the Holding Company’s internal financial reporting process. The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments for the three months ended December 31, 2018 and 2017.

As of and for the three months ended December 31, 2018

	Gas Company		Pike	Holding Company		Total Consolidated
Total electric utility revenue	$—		$2,400,528	$—		$2,400,528
Total gas utility revenue	$6,550,842		$516,236	$—		$7,067,078
Investment income	($83,980	)	$—	$—		($83,980	)
Equity investment (loss)	$—		$—	($6,879	)	($6,879	)
Net income (loss)	$601,999		$233,793	($85,998	)	$749,794
Income tax expense (benefit)	$212,478		$43,549	$530		$256,557
Interest expense	$359,386		$163,589	$88,015		$610,990
Depreciation expense	$454,695		$164,754	$915		$620,364
Amortization expense	$53,072		$77,722	$8,183		$138,977
Total assets	$84,015,010		$26,816,322	$3,246,356		$114,077,688
Capital expenditures	$1,297,208		$353,468	$—		$1,650,676

As of and for the three months ended December 31, 2017

	Gas Company	Pike	Holding Company		Total Consolidated
Total electric utility revenue	$—	$1,900,570	$—		$1,900,570
Total gas utility revenue	$5,432,840	$437,132	$—		$5,869,972
Investment income	$19,681	$—	$—		$19,681
Equity investment (loss)	$—	$—	($1,066	)	($1,066	)
Net income (loss)	$424,316	$46,962	($50,641	)	$420,637
Income tax expense (benefit)	$276,946	$39,660	($31,663	)	$284,943
Interest expense	$358,283	$129,082	$79,169		$566,534
Depreciation expense	$442,545	$164,240	$915		$607,700
Amortization expense	$47,557	$48,672	$—		$96,229
Total assets	$81,907,287	$23,138,397	$3,063,649		$108,109,333
Capital expenditures	$1,702,185	$76,455	$—		$1,778,640

Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations

Cautionary Statement Regarding Forward-Looking Statements

This report contains statements which, to the extent they are not recitations of historical facts, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (Reform Act). The words "estimate", "project", "anticipate", "expect", "intend", "believe", "could" and similar expressions are intended to identify forward-looking statements. All such forward-looking statements are intended to be subject to the safe harbor protection provided by the Reform Act. Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. As forward-looking statements, these statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the expected results. Accordingly, actual results may differ materially from those expressed in any forward-looking statements. Factors that could cause results to differ materially from our management's expectations include, but are not limited to, those listed under Item 1A - "Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended September 30, 2018, and in our Prospectus, dated April 15, 2017, forming a portion of our Registration Statement on Form S-1 (File No. 333-208943), filed with the Securities and Exchange Commission on April 25, 2016, in addition to:

*	the effect of any interruption in our supply of natural gas or electricity or a substantial increase in the price of natural gas or electricity,
*	our ability to successfully negotiate new supply agreements for natural gas as they expire, on terms favorable to us, or at all,
*	the effect on our operations of any action by the NYPSC, with respect to Corning Gas or PAPUC, with respect to Pike and our joint venture interest in Leatherstocking Gas.
*	the effect of any litigation,
*	the effect on our operations of unexpected changes in any other applicable legal or regulatory requirements,
*	the amount of natural gas produced and directed through our pipeline by producers,
*	our ability to obtain additional equity or debt financing to fund our capital expenditure plans and for general corporate purposes,
*	our successful completion of various capital projects and the use of pipelines, compressor stations and storage by customers and counterparties at levels consistent with our expectations,
*	The effect of weather on our utility infrastructure,
*	our ability to retain the services of our senior executives and other key employees,
*	our vulnerability to adverse economic and industry conditions generally and particularly the effect of those conditions on our major customers,
*	the effect of any leaks in our transportation and delivery pipelines, and
*	competition to our gas transportation business from other pipelines.

Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement in light of new information or future events.

Overview

The Holding Company’s primary business, through its subsidiaries Corning Gas and Pike, is natural gas and electricity distribution. Corning Gas serves approximately 15,000 residential, commercial, industrial and municipal customers in the Corning, Hammondsport and Virgil, New York, areas and two other gas utilities which serve the Elmira and Bath, New York, areas. It is franchised to supply gas service in all of the political subdivisions in which it operates. It also transports for a gas producer from the producer’s gathering networks. Corning Gas is under the jurisdiction of the New York Public Service Commission (“NYPSC”) which oversees and sets rates for New York gas distribution companies. In addition, Corning Gas has contracts with Corning Incorporated and Woodhull Municipal Gas Company, a small local utility, to provide maintenance service on their gas lines. Pike is an electricity and gas utility regulated by the Pennsylvania Public Utility Commission (“PAPUC”). Pike provides electric service to approximately 4,800 customers in the Townships of Westfall, Milford and the northern part of Dingman and in the Boroughs of Milford and Matamoras. Pike provides natural gas service to approximately 1,200 customers in Westfall Township and the Borough of Matamoras. All of these communities are located in Pike County, Pennsylvania. Additionally, Leatherstocking Gas distributes gas in Susquehanna and Bradford Counties, Pennsylvania, and has an application pending before the NYPSC for authority to provide gas distribution services in Broome County, New York. Leatherstocking Pipeline, an unregulated company, serves one customer in Lawton, Pennsylvania.

The market for natural gas in our traditional service territories is relatively saturated with limited growth potential. However, growth opportunities do exist in extending our mains to areas adjacent or reasonably close to areas we currently serve. In addition, the Gas Company continues to see expansion opportunities in the commercial and industrial markets. We completed a new pipeline to Marcellus Shale gas in Pennsylvania in 2009 and are transporting that gas throughout our pipeline infrastructure. In addition, the Holding Company has interests in two joint ventures, Leatherstocking Gas and Leatherstocking Pipeline (the “Joint Ventures”), to transport and provide gas to areas of the northeast currently without gas service. Through Leatherstocking Gas, we are continuing to pursue opportunities to provide natural gas to unserved areas of New York and Pennsylvania. Our electric and gas service territory in Pike County, Pennsylvania is seeing economic growth and we are experiencing customer load and revenue growth for both electric and gas. In May 2018 Corning Gas renegotiated our supply arrangement with a local gas producer.

We continue to focus on improving the efficiency of our operations and making capital investments to improve our infrastructure. Corning Gas’s infrastructure improvement program concentrates on the replacement of older distribution mains and customer service lines. In fiscal 2018 we repaired 134 leaks and replaced 9.8 miles of bare steel main and 249 bare steel services. For the first three months of fiscal 2019 we repaired 44 leaks, replaced 107 bare steel services and replaced 5.46 miles of bare steel main. At Pike we replaced approximately 100 poles and did extensive tree trimming to maintain our electric infrastructure.

We believe our key performance indicators are net income, stockholders’ equity and the safety and reliability of our systems. Net income increased by $329,157 for the three months ended December 31, 2018 compared to the three months ended December 31, 2017. Because the Holding Company’s principal operations are conducted through Corning Gas and Pike, both regulated utility companies, stockholders’ equity is an important performance indicator. The NYPSC and PAPUC allow Corning Gas, Pike and Leatherstocking Gas the opportunities to earn a just and reasonable return on stockholders’ equity as determined under applicable regulations. Stockholders’ equity is, therefore, a precursor of future earnings potential. As of December 31, 2018, compared to December 31, 2017, stockholders’ equity increased from $32,411,242 to $33,243,259. We plan to continue our focus on building stockholders’ equity. Safety and efficiency indicators include leak repair, main and service replacements and customer service metrics. Key performance indicators:

	Three Months Ended December 31,
		2018	2017
Net income		$749,794	$420,637
Stockholders' equity		$33,243,259	$32,411,242
Stockholders' equity per outstanding common share as of December 31,		$10.97	$10.80

Revenue and Margin

The demand for natural gas is directly affected by weather conditions. Significantly warmer than normal weather conditions in our service areas could reduce our earnings and cash flows as a result of lower gas sales. We partially mitigate the risk of warmer winter weather through the weather normalization and revenue decoupling mechanism (“RDM”) clauses in our NYPSC rate tariffs. These clauses allow us to surcharge customers for under recovery of revenue. Neither of these regulatory mechanisms are applicable to larger commercial customers or in Pennsylvania.

Utility operating revenues increased approximately $1.7 million during the three months ended December 31, 2018 compared to the same periods last year due primarily to increased gas prices and the rate increase at the Gas Company approved by the NYPSC in June 2017. Secondary factors for the increases include cooler weather and increased volumes.

The following table summarizes our utility operating revenue:
	Three months ended December 31,
		2018		2017
Retail electric revenue:
Residential		$1,188,119		$936,773
Commercial		1,204,062		925,066
Street lights		34,295		38,731
Total retail electric revenue		$2,426,476		$1,900,570

Retail gas revenue:
Residential		$4,375,942		$3,588,771
Commercial		709,484		562,169
Transportation		1,118,428		1,197,964
Wholesale		764,651		528,451
Total retail gas revenue		$6,968,505		$5,877,355

Total retail revenue		$9,394,981		$7,777,925

Local production		186,274		219,082
Other utility revenues		(113,649	)	(226,465	)
Total revenue		$9,467,606		$7,770,542

The following tables further summarize other utility revenues on the operating revenue table:
	Three months ended December 31,
		2018		2017
Other utility revenues:
Customer discounts forfeited		$38,221		$15,385
Reconnect fees		1,011		866
Other gas revenues (see below)		(156,239	)	(243,770	)
Surcharges		3,358		1,054
Total other utility revenues		($113,649	)	($226,465	)

		Three months ended December 31,
		2018		2017
Other gas revenues:
Delivery Rate Adjustment carrying costs		$2,125		$—
Contract customer reconciliation		9,141		(28,378	)
Monthly RDM amortizations		(201,388	)	(179,608	)
Local production revenues		6,854		(37,047	)
2017 Jobs Act federal income tax reconciliation		45,103		—
Leak backlog performance incentive		(16,986	)	—
Annual DRA reconciliation		—		1,263
All other		(1,088	)	—
Total other gas revenues		($156,239	)	($243,770	)

Gas purchases are our largest expense. Purchased gas expense increased $838,479 for the three months ended December 31, 2018, compared to the same periods last year due primarily to increased price of gas. Electricity costs increased $355,536 for the three months ended December 31, 2018, compared to the same periods last year due primarily to higher volumes as a result of cooler weather and increased price of electricity.

Gas Margin (the excess of utility gas revenues over the cost of natural gas purchased) percentage decreased 7.66% for the three months December 31, 2018 compared to the same periods last year primarily because of higher volumes and higher purchased gas costs. Electric Margin (the excess of electric revenues over the cost) percentage decreased 8.00% for the three months December 31, 2018 compared to the same periods last year primarily because of higher purchased electricity costs for the period.

	Three Months Ended December 31,
		2018	2017
Utility Gas Revenues		$7,067,078	$5,869,972
Natural Gas Purchased		2,294,669	1,456,190
Margin		$4,772,409	$4,413,782
Margin %		67.53%	75.19%

Utility Electric Revenues		$2,400,528	$1,900,570
Electricity Purchased		977,230	621,694
Margin		$1,423,298	$1,278,876
Margin %		59.29%	67.29%

Operating and Interest Expenses

Operating and maintenance expense decreased $92,025 in the first quarter of fiscal 2019 compared to the same period of fiscal 2018. This decrease results from increase in system maintenance cost offset by lower customer service and administrative and general expenses. Taxes other than income taxes increased $87,193. The increase was primarily due to property tax increases of $30,000 and Gross Receipts Tax (“GRT”) expense of $27,000, all other taxes increased by $30,193. Depreciation expense increased $12,664 for the quarter ended December 31, 2018 due to increases in utility plant in service. Other deductions, net, increased $40,326 in the three months ended December 31, 2018 compared to the same quarter in the prior year due mainly to lower miscellaneous expenses at Pike. Interest expense showed an increase of $44,456 for the quarter ended December 31, 2018 compared to the same period last year due mainly to additional interest costs associated with higher levels of outstanding debt.

Net Income

Net income increased by $329,157 for the three months ended December 31, 2018 compared to the three months ended December 31, 2017. This is mainly due to higher gas and electric operating revenues.

Liquidity and Capital Resources

The Holding Company does not have any borrowings (excluding Series A Preferred Stock that is classified as debt) at the corporate level and has no access to liquidity except through dividends and distributions from its subsidiaries as well as equity issuances. Its principal liquidity requirements are for investments in the Leatherstocking Joint Ventures to permit those companies to make the capital expenditures required to provide services to their customers and for dividend payments to the Holding Company’s stockholders.

Under the orders of the NYPSC, the Gas Company’s cost of capital is based on an equity-to-debt ratio of 48%/52%. If additional equity is required for the Gas Company to maintain that ratio when issuing new debt, the Holding Company, as the sole stockholder of the Gas Company, is the only source of such equity, through either equity or debt financings at the Holding Company level. The Gas Company and Pike rely on internally generated cash and short- and long-term debt.

The Gas Company’s internally generated cash from operating activities consists of net income, adjusted for non-cash expenses, and changes in operating assets and liabilities. Non-cash items include depreciation and amortization; gain on investment and deferred income taxes. Over or under-recovered gas costs significantly impact cash flow. In addition, there are significant year-to-year changes in regulatory assets that impact cash flow. The Gas Company’s cash flow is seasonal. Cash expenditures are the highest in the summer and fall months when we refill gas storage and conduct our construction programs. Our cash receipts are highest during the heating season. At Pike cash flow is strongest in the winter and summer when customer demand for natural gas and electricity are highest. Given year round electric sales Pike is less seasonal than the Gas Company.

On April 13, 2016, the Gas Company filed a petition in Case 16-G-0204 with the NYPSC, to defer leak repair and survey costs over and above the amounts permitted to be recovered in rates for 2015. See “Gas Company” under “Regulatory Matters” herein for additional information.

Capital expenditures are the principal use of internally generated cash flow. To fund capital expenditures, the Gas Company needs to draw on both operating cash and new debt and/or equity. In fiscal year 2019 to date, the Gas Company has spent approximately $1.7 million on projects and safety-related infrastructure improvements. This, in conjunction with our growth projects, creates liquidity pressure on the Holding Company. We anticipate that our aggressive capital construction program will continue to require the Holding Company to raise new debt and/or equity.

Cash flows from financing activities of the Gas Company consist of repayment of long-term debt, new long-term borrowing, borrowings and repayments under our lines-of-credit, quarterly dividends paid and equity issuances. For the Gas Company’s operations, it has an $8.0 million revolving line of credit with M&T Bank. Interest is a variable rate determined by the Gas Company’s funded debt to EBITDA ratio calculated ninety days after the end of each quarter added to the daily LIBOR rate with no additional collateral or covenants beyond those included in the M&T Bank term notes. See Note 4 - Financing Activities of the notes to the consolidated financial statements above for further information. The amount outstanding under this line on December 31, 2018 was $7.8 million with an interest rate of 5.1625%. The Gas Company was in compliance with all of its loan covenants as of December 31, 2018.

For Pike’s operations, it has a $2.0 million revolving line-of-credit with M&T Bank. Interest is a variable rate determined by Pike’s funded debt to EBITDA ratio calculated ninety days after the end of each quarter added to the daily LIBOR rate with no additional collateral or covenants beyond those included in the M&T Bank term notes. See Note 4 - Financing Activities of the notes to the consolidated financial statements above for further information. The amount outstanding under this line on December 31, 2018 was approximately $ -1.0 million with an interest rate of 5.3125%. Pike was in compliance with all of its loan covenants as of December 31, 2018.

The Pike M&T Bank loan, which had a balance of $10.7 million at December 31, 2018. bears interest at a fixed rate of 4.92%. Pike’s M&T Bank vehicle loan balance was $146,198 at December 31, 2018 with interest at a fixed rate of 5.83%

During this quarter, we mainly withdrew gas from storage and as of December 31, 2018, had a balance of $1,564,798 worth of gas in storage. During the next quarter, the Gas Company will also be withdrawing gas from storage to have sufficient gas to supply customers for the winter season.

As of December 31, 2018, we believe that cash flow from operating activities and borrowings under our lines-of-credit will be sufficient to satisfy our working capital and debt service requirements over the next twelve months. We believe new debt and proceeds from equity will be required to satisfy our capital expenditures to finance our internal growth needs for the next twelve months.

Off Balance Sheet Arrangements

We have no off balance sheet arrangements.

Regulatory Matters

Holding Company

On August 1, 2016, the NYPSC issued an order in Case 16-G-0200 approving the exercise of conversion rights (to common stock) of our 4.8% Series B Convertible Preferred Stock by our three holders of 10% or more of our common stock. The three holders, our President Michael German, funds controlled or with investments managed by Mario Gabelli, and the Article 6 Marital Trust under the First Amended and Restated Jerry Zucker Revocable Trust, reported on filings with the U.S. Securities and Exchange Commission that they acquired 57,936, 73,398 and 0 shares of our Series B Convertible Preferred Stock, respectively. There can be no assurance that any of such shares will actually be converted into our common stock.

The Holding Company’s primary business, through its subsidiaries Corning Gas and Pike, is regulated by the NYPSC and PAPUC, respectively, among other agencies.

Corning Gas Company

On April 13, 2016, Corning Gas filed a petition in Case 16-G-0204 with the NYPSC, to defer leak repair and survey costs over and above the amounts permitted to be recovered in rates for 2015. In this petition we requested that the incremental cost of $349,547 together with the associated income tax effect, be deferred and recovered in a manner to be established in future rate proceedings. The Company recognized this deferral in the quarter ended March 31, 2016. The petition is still pending before the NYSPSC.

On June 15, 2017, the NYPSC issued an Order Adopting Terms of Joint Proposal and Establishing Gas Rate Plan (the “June 2017 Order”) adopting the Joint Proposal without substantive modification in Case 16-G-0369.

As adopted by the June 2017 Order, the 2017 Joint Proposal defined earlier is a comprehensive settlement extending for three consecutive Rate Years (the twelve months ending May 31, 2018, 2019 and 2020) and permits Corning Gas to increase its base rates for gas delivery service. The new base rates under the June 2017 Order, when offset by the elimination of existing surcharges at the beginning of Rate Year 1 and levelized over the three Rate Years, result in the following incremental revenue increases over the prior Rate Year: Rate Year 1 - $1,558,553, Rate Year 2 - $1,573,706, and Rate Year 3 - $1,556,594, equating to increases of approximately 6.2%, 5.9% and 5.5%, respectively, as a percentage of total delivery revenues including gas costs. The 2017 Joint Proposal, as adopted, permits a rate of return on common equity of 9.0%, and an “Earnings Sharing Mechanism” that provides for Corning Gas to retain all earnings above 9.00% up to and including 9.50%, and for customers to retain (a) 50% of the earnings above 9.50% up to and including 10.00%, (b) 75% of earnings above 10.00% up to and including 10.50%, and (c) 90% of earnings above 10.50%.

The 2017 Joint Proposal provides true-ups for property taxes, pension costs, and plant additions and continues performance metrics for safety and customer satisfaction from the prior rate case. Although the stringency of certain performance measures and the amount of certain negative revenue adjustments for failure to meet specific standards are increased, the 2017 Joint Proposal, as approved by the June 2017 Order, also provides opportunities for positive revenue adjustments for exceeding applicable standards with regard to certain measures. Because the June 2017 Order approving the 2017 Joint Proposal was issued after the June 1, 2017 commencement of Rate Year 1 of the three-year rate plan and new rates did not go into effect until July 1, 2017, the June 2017 Order provides for each of the Gas Company and its customers to be placed in the same position in which they would have been if the new rates had gone into effect as of June 1, 2017. Any resulting revenue adjustments in favor of the Gas Company are deferred for future recovery, with interest. The Rate Year 2 rate increase of $1,573,706 became effective June 1, 2018.

By petition dated June 13, 2017, in Case 17-G-0346, Corning Gas requested authority under Public Service Law §69 to issue approximately $44 million of long-term debt through December 31, 2020. In its petition, Corning Gas requested permission to refinance all or a portion of its existing loans with a ten-year fixed rate loan (“Refunding Debt”). In addition, Corning Gas requested authority to issue new debt through December 31, 2020 to fund its future construction expenditures, repay short-term debt incurred to finance previous years’ construction expenditures, and to refinance its maturing debt obligations (“New Debt”). The NYSPSC, in an order issued November 17, 2017, authorized Corning Gas to issue up to $26 million for Refinancing Debt and up to $18 million for New Debt.

Pike

The acquisition of Pike was subject to the approval of the PAPUC. At its public meeting held on August 11, 2016, the PAPUC approved the Recommended Decision of the Administrative Law Judge, dated June 30, 2016, which approved the Joint Petition for Full Settlement of the Joint Application of Pike, Orange and Rockland Utilities, Inc. (“O&R”) and the Company, and the Pennsylvania Office of Consumer Advocate and the Pennsylvania Officer of Small Business Advocate (the “Settlement”). The Settlement requires Pike and the Holding Company to take a variety of actions including, among a series of other matters, hiring a general manager and other staffing of Pike, which had no employees when owned by O&R, and not filing for a rate increase prior to March 1, 2018.

On March 3, 2018 Pike experienced a major storm. Winter Storm Riley resulted in high winds and wet heavy snow, causing trees to fall to the ground, taking down numerous poles, spans of primary, secondary and service conductors, and damaging numerous pole top transformers. The cost of restoration was approximately $1.4 million. The $1.4 million is comprised of approximately $0.2 million of capital expenditures and $1.2 million of operation and maintenance repairs. On April 20, 2018 Pike filed a petition with PAPUC for permission to defer losses, for accounting and financial reporting purposes, resulting from the operation and maintenance expenses arising from severe storm damage, and to amortize such losses commencing on the date when rates are changed pursuant to the Commission's final order in Pike’s next general rate case. On June 14, 2018 in Docket P-2018-3001395 the PAPUC granted Pike’s deferral petition. On January 14, 2019 Pike filed a petition with the PAPUC requesting a Securities Certificate for issuance of additional debt in the amount of $2,732,154.

Leatherstocking Gas

On February 20, 2015, Leatherstocking Gas, pursuant to Section 68 of the Public Service Law, filed with the NYPSC for a Certificate of Public Convenience and Necessity and for approval of, and permission to exercise, franchises previously granted in the Town of Windsor (Case 15-G-0098) and Village of Windsor (Case 15-G-0099). NYPSC review of the applications is pending.

On February 27, 2015, Leatherstocking Gas, pursuant to Public Service Law Section 69, filed with the NYPSC for authority to issue long-term indebtedness in the principal amount of $2,750,000 for the purpose of financing new construction in the Town and Village of Windsor. The Commission review of the application in Case 15-G-0128 is pending.

On January 15, 2019 Leatherstocking Gas filed a petition with the PAPUC requesting a Securities Certificate for issuance of additional debt refinance in the amount of $8,748,742.

Critical Accounting Policies

Our significant accounting policies are described in the notes to the Consolidated Financial Statements in the Holding Company’s Form 10-K for the year ended September 30, 2018, filed on December 20, 2018. There have been no significant changes in our accounting policies during the three months ended December 31, 2018. The adoption of Accounting Standards Codification 606 did not impact the amount or timing of the Company’s revenues and expenses.

Item 4 - Controls and Procedures

Evaluation of Disclosure Controls and Procedures

As of December 31, 2018, the Company’s management, with the participation of the Company’s chief executive officer and chief financial officer, evaluated the effectiveness of the design and operation of the Company’s disclosure controls and procedures as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended. Based upon the Company’s evaluation, the Company’s chief executive officer and chief financial officer concluded that the Company’s disclosure controls and procedures are effective as of December 31, 2018.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that was conducted during the last fiscal quarter for the Holding Company, the Gas Company, Pike, the Appliance Company and the Joint Ventures, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II.

OTHER INFORMATION

Item 1. Legal Proceedings.

The Gas Company has lawsuits pending of the type incurred in the normal course of business. The Holding Company and the Gas Company expect that any potential losses will be covered by insurance, subject to deductibles, and will not have a material adverse impact on the Holding Company, the Gas Company or their operations or financial condition.

Item 1A. Risk Factors.

Please refer to risk factors listed under Item 1A – “Risk Factors” of the Holding Company’s Form 10-K for the fiscal year ended September 30, 2018, and in our Prospectus, dated April 15, 2017, forming a portion of our Registration Statement on Form S-1 (File No. 333-208943), filed with the Securities and Exchange Commission on April 25, 2016, for disclosure relating to certain risk factors applicable to the Company.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None

Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety Disclosures.

Not applicable

Item 5. Other Information.

None

Item 6. Exhibits.


31.1**	Certification of the Chief Executive Officer and President pursuant to 17 CFR Section 240.13a-14
31.2**	Certification of the Chief Financial Officer and Treasurer pursuant to 17 CFR Section 240.13a-14
32.1**	Certification of the Chief Executive Officer and the Chief Financial Officer pursuant to
	18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101**	The following materials from the Corning Natural Gas Holding Corporation Quarterly Report on Form
	10Q for the period ended December 31, 2018, formatted in XBRL (eXtensible Business Reporting Language):
	(i) the Consolidated Balance Sheets at December 31, 2018 and September 30, 2018,
	(ii) the Consolidated Statements of Income and Comprehensive Income for the three months
	ended December 31, 2018 and December 31, 2017.
	(iii) the Consolidated Statements of Cash Flows for the three months ended December 31, 2018
	and December 31, 2017, and
	(iv) related notes to the Condensed Consolidated Financial Statements


Filed herewith * Furnished herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CORNING NATURAL GAS HOLDING CORPORATION

Date: February 8, 2019 By: /s/ Michael I. German

Michael I. German, Chief Executive Officer and President

(Principal Executive Officer)

Date: February 8, 2019 By: /s/ Firouzeh Sarhangi

Firouzeh Sarhangi, Chief Financial Officer and Treasurer

(Principal Financial and Accounting Officer)

EX-31 2 exh31_1.htm

Exhibit 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO

17 CFR SECTION 240.13a-14(a)

I, Michael I. German, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Corning Natural Gas Holding Corporation for the period ending December 31, 2018;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 08, 2019

/s/ Michael I. German

Michael I. German, Chief Executive Officer and President

(Principal Executive Officer)

EX-31 3 exh31_2.htm

Exhibit 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO

17 CFR SECTION 240.13a-14(a)

I, Firouzeh Sarhangi, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Corning Natural Gas Holding Corporation for the period ending December 31, 2018;

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 8, 2019

/s/ Firouzeh Sarhangi

Firouzeh Sarhangi, Chief Financial Officer and Treasurer

(Principal Financial and Accounting Officer)

EX-32 4 exh32_1.htm

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the filing of the Quarterly Report of Corning Natural Gas Holding Corporation (the “Company”) on Form 10-Q for the period ending December 31, 2018 (the “Report”) with the Securities and Exchange Commission, I, Michael I. German, Chief Executive Officer and President of the Company and I, Firouzeh Sarhangi, Chief Financial Officer and Treasurer of the Company, certify pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and the information contained in the Report fairly presents, in all material respects, the financial condition and the results of operations of the Company for such period.

Dated: February 08, 2019

/s/ MICHAEL I. GERMAN

Michael I. German, Chief Executive Officer and President

(Principal Executive Officer)

/s/ FIROUZEH SARHANGI

Firouzeh Sarhangi, Chief Financial Officer and Treasurer

(Principal Financial and Accounting Officer)

EX-101.INS 5 cnig-20181231.xml 0001582244 2018-09-30 0001582244 2018-12-31 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-12-31 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-09-30 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2018-09-30 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2018-09-30 0001582244 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2018-09-30 0001582244 us-gaap:CashAndCashEquivalentsMember 2018-12-31 0001582244 cnig:CommonStockInvestmentMember 2018-12-31 0001582244 us-gaap:USTreasuryAndGovernmentMember 2018-12-31 0001582244 us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0001582244 us-gaap:EquitySecuritiesMember 2018-12-31 0001582244 us-gaap:CashAndCashEquivalentsMember 2018-09-30 0001582244 cnig:CommonStockInvestmentMember 2018-09-30 0001582244 us-gaap:USTreasuryAndGovernmentMember 2018-09-30 0001582244 us-gaap:CorporateDebtSecuritiesMember 2018-09-30 0001582244 cnig:MutualFundsMember 2018-09-30 0001582244 us-gaap:EquitySecuritiesMember 2018-09-30 0001582244 cnig:MutualFundsMember 2018-12-31 0001582244 us-gaap:PreferredStockMember 2018-12-31 0001582244 us-gaap:PreferredStockMember 2018-09-30 0001582244 cnig:GasCompanyMember 2018-10-01 2018-12-31 0001582244 cnig:PikeMember 2018-10-01 2018-12-31 0001582244 srt:ParentCompanyMember 2018-10-01 2018-12-31 0001582244 2018-10-01 2018-12-31 0001582244 us-gaap:CommonStockMember 2018-10-01 2018-12-31 0001582244 us-gaap:AdditionalPaidInCapitalMember 2018-10-01 2018-12-31 0001582244 us-gaap:RetainedEarningsMember 2018-10-01 2018-12-31 0001582244 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-10-01 2018-12-31 0001582244 us-gaap:PensionPlansDefinedBenefitMember 2018-10-01 2018-12-31 0001582244 us-gaap:OtherPensionPlansDefinedBenefitMember 2018-10-01 2018-12-31 0001582244 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-10-01 2018-12-31 0001582244 cnig:LeatherstockingGasCompanyLlcAndLeatherstockingPipelineCompanyLlcMember 2018-12-31 0001582244 cnig:GasCompanyMember 2018-12-31 0001582244 cnig:PikeMember 2018-12-31 0001582244 srt:ParentCompanyMember 2018-12-31 0001582244 cnig:SeriesACumulativePreferredStockMember 2018-10-01 2018-12-31 0001582244 2016-06-01 2016-06-17 0001582244 us-gaap:CommonStockMember 2018-09-30 0001582244 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0001582244 us-gaap:RetainedEarningsMember 2018-09-30 0001582244 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 0001582244 us-gaap:CommonStockMember 2018-12-31 0001582244 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001582244 us-gaap:RetainedEarningsMember 2018-12-31 0001582244 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001582244 cnig:SeriesACumulativePreferredStockMember 2018-12-31 0001582244 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2018-12-31 0001582244 us-gaap:PensionPlansDefinedBenefitMember 2018-12-31 0001582244 cnig:YearMayThirtyOneTwoThousandNighteenMember 2017-06-10 2017-06-15 0001582244 cnig:YearMayThirtyOneTwoThousandTwentyMember 2017-06-10 2017-06-15 0001582244 cnig:YearMayThirtyOneTwoThousandEighteenMember 2017-06-10 2017-06-15 0001582244 us-gaap:PreferredStockMember srt:MaximumMember 2018-12-31 0001582244 cnig:SeriesACumulativePreferredStockMember srt:MaximumMember 2018-12-31 0001582244 cnig:AgreementWithMandTMember 2017-11-01 2017-11-30 0001582244 us-gaap:SeriesBPreferredStockMember 2018-10-01 2018-12-31 0001582244 us-gaap:SeriesAPreferredStockMember 2018-10-01 2018-12-31 0001582244 us-gaap:SeriesAPreferredStockMember 2018-12-31 0001582244 us-gaap:SeriesBPreferredStockMember 2018-12-31 0001582244 us-gaap:SeriesBPreferredStockMember us-gaap:PresidentMember 2016-10-14 0001582244 us-gaap:SeriesBPreferredStockMember srt:MaximumMember 2018-12-31 0001582244 cnig:RatemakingAndFinancialStatementPurposesMember 2018-10-01 2018-12-31 0001582244 us-gaap:DirectorMember 2018-10-01 2018-12-31 0001582244 us-gaap:SeriesBPreferredStockMember 2017-10-01 2017-12-31 0001582244 2017-10-01 2017-12-31 0001582244 us-gaap:OilAndGasServiceMember 2018-10-01 2018-12-31 0001582244 us-gaap:ElectricDistributionMember 2018-10-01 2018-12-31 0001582244 us-gaap:SeriesAPreferredStockMember 2018-08-31 0001582244 2019-02-08 0001582244 us-gaap:OilAndGasServiceMember 2017-10-01 2017-12-31 0001582244 us-gaap:ElectricDistributionMember 2017-10-01 2017-12-31 0001582244 2017-09-30 0001582244 2017-12-31 0001582244 cnig:RatemakingAndFinancialStatementPurposesMember 2017-10-01 2017-12-31 0001582244 us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember 2017-10-01 2017-12-31 0001582244 us-gaap:PensionPlansDefinedBenefitMember 2017-12-31 0001582244 us-gaap:PensionPlansDefinedBenefitMember 2017-10-01 2017-12-31 0001582244 us-gaap:OtherPensionPlansDefinedBenefitMember 2017-10-01 2017-12-31 0001582244 cnig:GasCompanyMember 2017-10-01 2017-12-31 0001582244 cnig:AgreementWithMandTMember us-gaap:RevolvingCreditFacilityMember 2018-10-01 2018-12-31 0001582244 cnig:AgreementWithMandTMember cnig:PikeLineOfCreditMember 2018-10-01 2018-12-31 0001582244 cnig:PikeMember 2017-10-01 2017-12-31 0001582244 srt:ParentCompanyMember 2017-10-01 2017-12-31 0001582244 cnig:GasCompanyMember 2017-12-31 0001582244 cnig:PikeMember 2017-12-31 0001582244 srt:ParentCompanyMember 2017-12-31 0001582244 cnig:SeriesACumulativePreferredStockMember 2018-07-01 2018-09-30 0001582244 cnig:ResidentialGasMember 2018-10-01 2018-12-31 0001582244 cnig:CommercialGasMember 2018-10-01 2018-12-31 0001582244 cnig:TransportationMember 2018-10-01 2018-12-31 0001582244 cnig:StreetLightsGasMember 2018-10-01 2018-12-31 0001582244 cnig:WholesaleMember 2018-10-01 2018-12-31 0001582244 cnig:LocalProductionMember 2018-10-01 2018-12-31 0001582244 cnig:CorningGasMember 2018-10-01 2018-12-31 0001582244 cnig:PikeResidentialGasMember 2018-10-01 2018-12-31 0001582244 cnig:PikeCommercialGasMember 2018-10-01 2018-12-31 0001582244 cnig:PikeRetailGasMember 2018-10-01 2018-12-31 0001582244 cnig:PikeResidentialeEectricMember 2018-10-01 2018-12-31 0001582244 cnig:PikeCommercialEectricMember 2018-10-01 2018-12-31 0001582244 cnig:PikeEectricStreetLightsMember 2018-10-01 2018-12-31 0001582244 cnig:PikeRetailEectricMember 2018-10-01 2018-12-31 0001582244 cnig:AgreementWithMandTMember us-gaap:RevolvingCreditFacilityMember 2018-08-15 0001582244 cnig:AgreementWithMandTMember us-gaap:RevolvingCreditFacilityMember 2017-10-01 2018-09-30 0001582244 2018-07-01 2018-09-30 0001582244 us-gaap:SeriesBPreferredStockMember 2018-07-01 2018-09-30 0001582244 us-gaap:OfficerMember 2018-10-01 2018-12-31 0001582244 cnig:LeatherstockingGasCompanyMember 2018-10-01 2018-12-31 0001582244 cnig:DividendReinvestmentProgramMember 2018-10-01 2018-12-31 0001582244 2018-09-25 2018-10-02 0001582244 us-gaap:SubsequentEventMember 2019-09-25 2019-10-02 0001582244 2018-10-02 0001582244 us-gaap:SubsequentEventMember 2019-10-02 0001582244 cnig:PikesMember 2018-09-25 2018-10-02 0001582244 cnig:PikesMember 2018-10-02 0001582244 cnig:PikeTotalMember 2018-10-01 2018-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure

2193578

2122337

2193578

167601

37116

257493

185382

856804

158210

38197

255130

189810

22067

980433

22151

595790

549731

6662357

8857089

228666

179992

0.01

4500000

3021851

3029678

601999

233793

-85998

749794

420637

424316

46962

-50641

1297208

353468

1650676

1778640

1702185

76455

7827

111743205

114077688

84015010

26816322

3246356

108109333

81907287

23138397

3063649

16322799

16633027

0.06

0.048

0.06

454695

164754

915

620364

607700

442545

164240

915

-6879

-1066

359386

163589

88015

610990

566534

358283

129082

79169

212478

43549

530

256557

284943

276946

39660

-31663

53072

77722

8183

138977

96229

47557

48672

5135

28814

255500

210600

244500

244263

Corning Natural Gas Holding Corp 0001582244 10-Q 2018-12-31 false --09-30 Non-accelerated Filer Q1 2018

2046

19613

32840724

33243259

30218

27320162

5399751

90593

30297

27452591

5764774

-4403

3021851

3029678

3021851

3029678

132508

132429

423836

422740

61066

78975

61066

78975

61066

25.00

20.75

1018465

29000000

3032182

754929

449451

1929489

920106

98918

93735

0.50

116453

4123

107161

4445

258774

11939

240301

12060

319966

300205

888

887

-212665

1677

-242497

-1374

267926

15273

289754

18766

245000

908892

185539

661743

15050

11924

711098

220702

350864

2062758

2066541

167601

37116

260208

188532

817850

158210

38197

264376

193526

22359

813215

22359

572875

167218

61869

38954

167218

22915

36398

6073

2715

3150

9246

3716

292

208

23144

1640857

1185966

4554850

4506692

116495

76169

924312

837119

2893679

2985704

55205

55395

12138

1006351

705580

688728

359571

3318424

2996755

3025308

2996755

0.23

0.12

0.23

0.12

24755

32166

235357

195013

114221

96229

89072

44628

-15018

8847

256557

284943

70000

10001

-5183

-6230

64155

-308408

-459724

549241

-313397

-361557

262209

-191414

-56118

-424055

1615612

1753700

148869

634122

-33898

-126067

-198195

-253612

40715

39362

164125 284153

-2196

-33517

-972452

51544

-1749213

-1812700

-83588

-3541

14949

30519

105902

2194732

-301392

440371

424287

843337

27248313

219962

549107

442930

184458

12372

463336

552749

43436

40769

2115

2340

329145

-258472

3600000

0.03

0.0526

2028-11-30

3500000

3600000

510000

0.0471

0.0489

-15018

8847

9467606

7770542

7067078

2400528

5869972

1900570

3858660

606705

1127569

129

764651

193128

6550842

413457

102779

516236

1210747

1155486

34295

2400528

2916764

3271899

2077884

2294669

977230

1456190

621694

2400528 2400528 1900570 1900570 6550842 516236 7067078 5869972 5432840 437132

0.21

211333

239876

59126

30923

-7349

14144

The following table represents the Holding Company’s investment activity in the Joint Ventures for the three months ended December 31, 2018 and December 31, 2017:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1px"> </td> <td colspan="2" style="font-size: 10pt; text-align: center; border-bottom: Black 1px solid">2018</td><td style="font-size: 10pt; padding-bottom: 1px"> </td> <td colspan="2" style="font-size: 10pt; text-align: center; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Beginning balance in investment in joint ventures</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$2,740,575</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$2,707,406</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px">Loss in joint ventures</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(6,879</td><td style="padding-bottom: 1px; text-align: left">)</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(1,066</td><td style="padding-bottom: 1px; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Ending balance in joint ventures</td><td> </td> <td style="text-align: right">$2,733,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,706,340</td></tr></table>

7827

3150

2000

150

2527

132508

48355

38000

2717

43436

61066

true false

111743205

114077688

90593

-4403

5399751

5764774

27320162

27452591

30218

30297

4951847

4955609

219948

194656

6016240

6110346

1412345

1453060

4896771

5097470

15825172

17275215

483806

484901

1227398 1391523

410237

405496

3247376

2274924

3793998

3861282

5166082

5171265

36636581

36799313

338903

284015

36975484

37083328

10142472

9676269

583437

578254

4043072

4100016

4279839

4221599

1236124

776400

9073445

10921939

1468030

1154633

1818974

2081183

1620916

1564798

208876

289919

385987

242362

3350700

5039937

4934153

4856033

2740575

2733696

2707406

2706340

87593135

88623447

26966064

27599916

114559199

116223363

5135

28814

Note 7 – Investment in Joint Ventures   The Holding Company has an interest in Leatherstocking Gas and Leatherstocking Pipeline (the Joint Venture), each of which is a joint venture with Mirabito Regulated Industries, LLC, accounted for by the equity method.   The following table represents the Holding Company’s investment activity in the Joint Ventures for the three months ended December 31, 2018 and December 31, 2017:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1px"> </td> <td colspan="2" style="font-size: 10pt; text-align: center; border-bottom: Black 1px solid">2018</td><td style="font-size: 10pt; padding-bottom: 1px"> </td> <td colspan="2" style="font-size: 10pt; text-align: center; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Beginning balance in investment in joint ventures</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$2,740,575</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$2,707,406</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px">Loss in joint ventures</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(6,879</td><td style="padding-bottom: 1px; text-align: left">)</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(1,066</td><td style="padding-bottom: 1px; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Ending balance in joint ventures</td><td> </td> <td style="text-align: right">$2,733,696</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,706,340</td><td style="text-align: left"> </td></tr> </table>   As of and for the three months ended December 31, 2018 and 2017, the Joint Ventures financial summary is as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 11pt Calibri, Helvetica, Sans-Serif; margin-left: 40pt"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">2018</td><td> </td> <td colspan="2" style="text-align: center">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Total assets</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$13,300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$13,300,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: right">$7,800,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$7,900,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: right">$13,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,133</td></tr></table>

Note 10 – Regulatory Matters   On June 17, 2016, the Gas Company filed with the NYPSC a three-year plan to implement a levelized increase in revenues from gas delivery service of $3,463,287 in each year over the period June 1, 2017 through May 31, 2020, resulting in total bill impacts on customers in each year of 10.4%.   On June 15, 2017, the NYPSC, in Case 16-G-0369, issued an Order Adopting Terms of Joint Proposal and Establishing Gas Rate Plan (the “June 2017 Order”) adopting without substantive modification a Joint Proposal (the “2017 Joint Proposal”) among the Gas Company, the Staff of the Department of Public Service, and multiple intervenors (which represent large industrial customers) to resolve all issues in Case 16-G-0369. As adopted by the June 2017 Order, the 2017 Joint Proposal is a comprehensive settlement extending for three consecutive Rate Years (the twelve months ending May 31, 2018, 2019 and 2020) and permits Corning Gas to increase its base rates for gas delivery service. The new base rates under the June 2017 Order, when offset by the elimination of existing surcharges at the beginning of Rate Year 1 and levelized over the three Rate Years, result in the following incremental revenue increases over the prior Rate Year: Rate Year 1 - $1,558,553, Rate Year 2 - $1,573,706, and Rate Year 3 - $1,566,594, equating to increases of approximately 6.2%, 5.9% and 5.5%, respectively, as a percentage of total delivery revenues including gas costs. The 2017 Joint Proposal, as adopted, permits a rate of return on common equity of 9.0%, and an “Earnings Sharing Mechanism” that provides for Corning Gas to retain all earnings above 9.00% up to and including 9.50%, and for customers to retain 50% of the earnings above 9.50% up to and including 10.00%, 75% of earnings above 10.00% up to and including 10.50%, and 90% of earnings above 10.50%.   The 2017 Joint Proposal, as adopted, provides true-ups for property taxes, pension costs, plant expenditures, large customer revenue, local production revenue and continues performance metrics for safety and customer satisfaction from the prior rate case. Although the stringency of certain performance measures and the amount of certain negative revenue adjustments for failure to meet specific standards are increased, the 2017 Joint Proposal, as approved by the June 2017 Order, also provides opportunities for positive revenue adjustments for exceeding applicable standards with regard to certain measures. Because the June 2017 Order approving the 2017 Joint Proposal was issued after the June 1, 2017 commencement of Rate Year 1 of the three-year rate plan and new rates did not go into effect until July 1, 2017, the 2017 Order provided for each of the Gas Company and its customers to be placed in the same position in which they would have been if the new rates had gone into effect as of June 1, 2017. Any resulting revenue adjustments in favor of the Gas Company are deferred for future recovery, with interest. The Rate Year 2 rate increase of $1,573,706 became effective June 1, 2018.   On August 9, 2018 The NYSPSC issued an order in Case 17-M-0815 that required the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. The refund to customers began on October 1, 2018. Customers will experience an average decrease of 5.20% on their overall bill in the year starting October 1, 2018 and 7.83% in the year starting October 1, 2019. The amounts returned to customers will be $1,317,719 and $2,112,540 respectively. These refunds will not impact the Company’s allowed earnings.   In addition, the impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.   The PAPUC issued an order in Case M-2018-2641242 that require the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. Pike’s electric customers will receive a refund of $73,923 or decrease of 0.67% on their overall bill effective October 1, 2018. No refunds were ordered for Pike’s gas operation because amounts were not material. The impact of the change in the Tax Act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.   Total Regulatory Assets on the Accompanying Balance Sheets as of December 31, 2018 amounts to $9,098,015 compared to $9,559,035 at September 30, 2018. The Regulatory Assets include $1,544,347 at December 31, 2018 and $1,544,347 at September 30, 2018 that is subject to Deferred Accounting Petitions and $908,892 at December 31, 2018 and $845,708 at September 30, 2018 that is under regulatory audit. The remaining items in regulatory assets are either approved in rates, part of annual reconciliations approved by the NYSPSC and PAPUC or approved through various commission directives.

Note 1 – Basis of Presentation   Corning Natural Gas Holding Corporation (“Holding Company”) was incorporated in New York in July 2013 to serve as a holding company for Corning Natural Gas Corporation (the “Gas Company” or “Corning Gas”) and its dormant subsidiary Corning Natural Gas Appliance Corporation (“Appliance Company”). Pike County Light & Power Company (“Pike”) is also a wholly-owned subsidiary of the Holding Company. The Holding Company has 50% ownership interests in our joint ventures Leatherstocking Gas Company, LLC (“Leatherstocking Gas”), its subsidiary, Leatherstocking Gas Development Corporation, and Leatherstocking Pipeline Company, LLC (“Leatherstocking Pipeline”). As used in this document, the term “the Company” refers to the consolidated operations of the Holding Company, Gas Company, Pike and Appliance Company.   The information furnished herewith reflects all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the period. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to SEC rules and regulations, although the Holding Company believes the disclosures which are made are adequate to make the information presented not misleading.   The consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and notes thereto included in the Holding Company’s latest annual report on Form 10-K for the fiscal year ended September 30, 2018 (“Annual Report”), filed on December 20, 2018. These interim consolidated financial statements are unaudited.   Our significant accounting policies are described in the notes to the Consolidated Financial Statements in the Holding Company’s Annual Report. It is important to understand that the application of generally accepted accounting principles in the United States of America involves certain assumptions, judgments and estimates that affect reported amounts of assets, liabilities, revenues and expenses. Thus, the application of these principles can have varying results from company to company.   Because our business is highly seasonal in nature, sales for each quarter of the year vary and are not comparable. Sales vary depending on seasonal variations in temperature, although the Gas Company’s weather normalization and revenue decoupling clauses approved by the New York Public Service Commission (“NYPSC”) serve to stabilize net revenue, by insulating the Gas Company, to an extent, from the effects of unusual temperature variations and conservation. Certain larger customer classes are not covered by weather normalization or revenue decoupling and weather will impact revenue from these classes. Neither Pike nor Leatherstocking have weather normalization or revenue decoupling clauses.   It is the Holding Company’s policy to reclassify amounts in the prior year financial statements to conform to the current year presentation.   Adoption of New Accounting Guidance   On October 1, 2018, we adopted Accounting Standards Update (“ASU”) 2016-01 “Financial Instruments—Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”) and Accounting Standards Codification (“ASC”) 606 – “Revenues from Contracts with Customers” (“ASC 606”).   With respect to ASU 2016-01, we reclassified net after-tax unrealized gains on equity securities of $100,131 as of October 1, 2018 from accumulated other comprehensive income to retained earnings. We continue to carry our investments in equity securities at fair value and there is no change to the asset values or total stockholders’ equity that we would have otherwise recorded. Beginning in fiscal 2019, we are including unrealized gains and losses arising from the changes in the fair values of our equity securities as a component of investment (loss) income in the Consolidated Statements of Income. ASU 2016-01 prohibited the restatement of prior year financial statements and for periods ending prior to 2018, unrealized gains and losses from the changes in fair value of available-for-sale equity securities were recorded in other comprehensive income.   We adopted ASC 606 using the modified retrospective method, whereby the cumulative effect of the adoption is required to be recorded as an adjustment to retained earnings. For the three months ended December 31, 2018, the Company recognized revenues from contracts with customers in accordance with ASC 606. The revenues recognized were equivalent to the revenues that would have been recognized had the Companies not adopted ASC 606 and had recognized all revenues in accordance with ASC 605 – Revenue Recognition (ASC 605). For the three months ended December 31, 2017, the Company recognized revenues, including revenues from contracts with customers, in accordance with ASC 605. No prior period adjustment or charge to retained earnings for cumulative impact was required as a result of the Company’s adoption of ASC 606. ASC 606 also provides for certain other disclosures which are included in Note 2.   New Accounting Pronouncements Not Yet Adopted   In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (ASC Topic 842), which requires lessees to recognize substantially all leases on-balance sheet and disclose key information about leasing arrangements. The new standard establishes a right of use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The new standard is effective for annual and interim periods beginning after December 15, 2018.  ASU 2016-02 requires entities to adopt a modified retrospective transition method for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements.  The Company continues to evaluate the impact that adopting ASU 2016-02 will have on its financial statements, but does not believe it will have a material impact at this time.

Note 3 - Pension and Other Post-Retirement Benefit Plans   Components of Net Periodic Benefit Cost:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="5" style="text-align: center">Pension Benefits Three Months Ended December 31,</td><td> </td> <td colspan="5" style="text-align: center">Other Benefits Three Months Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2017</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 39%; text-align: left">Service Cost</td><td style="width: 3%"> </td> <td style="width: 12%; text-align: right">$116,453</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: right">$107,161</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: right">$4,123</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: right">$4,445</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest Cost</td><td> </td> <td style="text-align: right">258,774</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">240,301</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">11,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">12,060</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected return on plan assets</td><td> </td> <td style="text-align: right">(319,966</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">(300,205</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amortization of prior service cost</td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">887</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px">Amortization of net (gain) loss</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">212,665</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">242,497</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(1,677</td><td style="padding-bottom: 1px; text-align: left">)</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">1,374</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 3px">Net period benefit cost</td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$267,926</td><td style="padding-bottom: 3px; text-align: left"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$289,754</td><td style="padding-bottom: 3px; text-align: left"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$15,273</td><td style="padding-bottom: 3px; text-align: left"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$18,766</td><td style="padding-bottom: 3px; text-align: left"> </td></tr> </table>   For ratemaking and financial statement purposes, pension expense represents the amount approved by the NYPSC in the Gas Company’s most recently approved rate case. Pension expense (benefit) for ratemaking and financial statement purposes was $245,000 for the three months ended December 31, 2018 and $185,539 for the three months ended December 31, 2017. The difference between the pension expense (benefit) for ratemaking purposes, and the actual pension expense has been deferred as a regulatory asset and amounted to $908,892 and $661,743 at December 31, 2018 and 2017, respectively.   The NYPSC has allowed the Gas Company to recover incremental costs associated with other post-retirement benefits through rates on a current basis. Other post-retirement benefit expense (benefit) (OPEB) for ratemaking and financial statement purposes was $15,050 for the three months ended December 31, 2018 and $11,924 for the three months ended December 31, 2017. The difference between the other post-retirement benefit expense (benefit) for ratemaking and financial statement purposes, and the amount computed above has been deferred as a regulatory asset and is not included in the prepaid cost noted above. The net period benefit costs have been included in the income statement in the operating and maintenance expense. Total pension and OPEB costs are recorded in accordance with accounting prescribed by the NYPSC.   Contributions   The Gas Company expects to contribute $711,098 to its Pension Plan. A total of $220,702 has been paid to the Pension Plan for the first three months of this fiscal year and $350,864 was paid for the three months ended December 31, 2017

Note 4 – Financing Activities   On August 15, 2018, the Gas Company entered into a $3.6 million multiple disbursement term note with M&T which permitted draws from time to time for capital expenditures in accordance with its terms until October 31, 2018 at which time amounts outstanding under the note totaling $3.6 million converted to a ten year term loan, payable in 119 equal monthly installments with an additional final installment of unpaid principal and interest due on November 30, 2028.  Before converting to a term loan, borrowings on the note had a variable interest rate of the one-month LIBOR rate plus 3% (5.26% as of September 30, 2018).  After October 31, 2018, the interest rate was fixed at 4.71%.  Additional terms of this note are substantially the same as those in the Gas Company’s November 2017 Credit Agreement with M&T.  As of December 31, 2018, the outstanding balance of this note was approximately $3.5 million.   On December 4, 2018, Pike entered into a demand note with M&T for $510,000, payable in 364 days unless otherwise converted into a term note (“replacement term note”).  The note has a fixed interest rate of 4.89%. The intent of the Company is to convert this demand note to a term loan.   We are in compliance with our financial covenant calculations as of December 31, 2018.

Note 5 - Fair Value of Financial Instruments   The Holding Company has determined the fair value of debt and other financial instruments using a valuation hierarchy. The hierarchy, which prioritizes the inputs used in measuring fair value, consists of three levels. Level 1 uses observable inputs such as quoted prices in active markets; Level 2 uses inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, which is defined as unobservable inputs in which little or no market data exists, requires the Holding Company to develop its own assumptions. The carrying amount of debt on the Consolidated Balance Sheets approximates fair value as a result of instruments bearing interest rates that approximate current market rates for similar instruments, and the carrying amounts for cash, accounts receivable and accounts payable approximate fair value due to their short-term nature. Investment assets, which fund the Holding Company’s deferred compensation plan, are valued based on Level 1 inputs.   The Holding Company has determined the fair value of certain assets through application of FASB ASC 820 “Fair Value Measurements and Disclosures”.   Fair value of assets and liabilities measured on a recurring basis at December 31, 2018 and September 30, 2018 are as follows:   Fair Value Measurements at Reporting Date Using:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Fair Value</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1)</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Level 2</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1px">December 31, 2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Available-for-sale securities</td><td style="width: 3%"> </td> <td style="width: 9%; text-align: right">$2,122,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 17%; text-align: right">$2,122,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 9%; text-align: right">$0</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 9%; text-align: right">$0</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline">September 30, 2018</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Available-for-sale securities</td><td> </td> <td style="text-align: right">$2,193,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,193,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$0</td><td style="text-align: left"> </td></tr> </table>   A summary of the marketable securities at December 31, 2018 and September 30, 2018 is as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Cost Basis</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Unrealized Gain</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Unrealized Loss</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Market Value</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">December 31, 2018</td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 32%; text-align: left">Cash and equivalents</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$167,601</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$167,601</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Metlife stock value</td><td> </td> <td style="text-align: right">37,116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">37,116</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government and agency bonds</td><td> </td> <td style="text-align: right">260,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">2,715</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">257,493</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Corporate bonds</td><td> </td> <td style="text-align: right">188,532</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">3,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">185,382</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Mutual funds</td><td> </td> <td style="text-align: right">22,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,151</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holding Company Preferred A Stock</td><td> </td> <td style="text-align: right">572,875</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,915</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">595,790</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px">Equity securities</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">817,850</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">38,954</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">856,804</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total securities</td><td> </td> <td style="text-align: right">$2,066,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$61,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$6,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,122,337</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>September 30, 2018</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash and equivalents</td><td> </td> <td style="text-align: right">$158,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$158,210</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Metlife stock value</td><td> </td> <td style="text-align: right">38,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">38,197</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government and agency bonds</td><td> </td> <td style="text-align: right">264,376</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">9,246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">255,130</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Corporate bonds</td><td> </td> <td style="text-align: right">193,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">3,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">189,810</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Mutual funds</td><td> </td> <td style="text-align: right">22,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">292</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holding Company Preferred A Stock</td><td> </td> <td style="text-align: right">572,875</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">23,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">549,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px">Equity securities</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">813,215</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">167,218</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">980,433</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total securities</td><td> </td> <td style="text-align: right">$2,062,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$167,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$36,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,193,578</td><td style="text-align: left"> </td></tr> </table>   Realized gains included in earnings for the periods reported in investment income are as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left">Investment Income</td><td style="padding-bottom: 1px"> </td> <td colspan="5" style="text-align: center; border-bottom: Black 1px solid">Three Months Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom"> <td style="width: 57%; text-align: left">Net gains and losses recognized during the period on investments</td><td style="width: 8%"> </td> <td style="width: 15%; text-align: right">$(15,018</td><td style="width: 1%; text-align: left">)</td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$8,847</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table>   Unrealized losses on equity securities included in investment income for the quarter ended December 31, 2018 were $76,307.   Financial assets and liabilities valued using level 1 inputs are based on unadjusted quoted market prices as of the close of business on the days noted within active markets.

Note 6 – Stockholders’ Equity   For the three months ended December 31, 2018, there were a total of 7,827 shares of common stock issued for $132,508. The amounts issued were for the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">Shares</td><td> </td> <td colspan="2" style="text-align: center">Amount</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: justify">Dividend reinvestment program (DRIP)</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">2,527</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$43,436</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Directors</td><td> </td> <td style="text-align: right">3,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">48,355</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Leatherstocking Gas Company</td><td> </td> <td style="text-align: right">150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">2,717</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1px">Officers</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">2,000</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">38,000</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total</td><td> </td> <td style="text-align: right">7,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$132,508</td><td style="text-align: left"> </td></tr> </table>   Shares issued to Leatherstocking Gas were used to compensate its independent director, Carl Hayden.   For the three months ended September 30, 2018, dividends were paid on October 12, 2018 to stockholders of record on September 30, 2018 in the amount of $422,740. For the quarter ended December 31, 2018, $423,836 was accrued for dividends paid on January 14, 2019 to stockholders of record on December 31, 2018.   Series A Cumulative Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14th day of April, July, October and January of each year and began October 14, 2016. For the three months ended September 30, 2018, dividends were paid on October 12, 2018 in the amount of $78,975. For the three months ended December 31, 2018, $78,975 was accrued for dividends paid on January 14, 2019. Dividends on the Series A Cumulative Preferred Stock are reported as interest expense. Series B Convertible Preferred Stock accrues cumulative dividends at a rate of 4.8% of the liquidation preference per share ($20.75) and are expected to be paid on or about the 14th day of April, July, October and January of each year and began October 14, 2016. At September 30, 2018 there was $61,066 accrued for Series B dividends paid on October 12, 2018. For the three months ended December 31, 2018, $61,066 was accrued for dividends paid on January 14, 2019. See Note 9 for additional information on the preferred stock, including its mandatory redemption provisions.   Basic earnings per share are computed by dividing income available for common stock (net income less dividends declared on Series B Preferred Stock) by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.   244,263 shares of Series B Convertible Preferred Stock were excluded from the calculation of diluted earnings per share for the quarter ended December 31, 2017 because their inclusion would have been anti-dilutive.

Note 8 – Effective Tax Rate   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td colspan="4">Income tax expense for the three months ended December 31 is as follows:</td><td> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1px"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center">2018</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center">2017</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 66%; padding-bottom: 1px">Deferred</td><td style="width: 3%; padding-bottom: 1px"> </td> <td style="width: 13%; border-bottom: Black 1px solid; text-align: right">256,557</td><td style="width: 1%; padding-bottom: 1px; text-align: left"> </td><td style="width: 3%; padding-bottom: 1px"> </td> <td style="width: 13%; border-bottom: Black 1px solid; text-align: right">284,943</td><td style="width: 1%; padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: right">$256,557</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$284,943</td><td style="text-align: left"> </td></tr> </table>   Actual income tax expense differs from the expected tax expense (computed by applying the federal corporate tax rate of 21% before income tax expense) as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1px; width: 66%"> </td><td style="padding-bottom: 1px; width: 3%"> </td> <td style="border-bottom: Black 1px solid; text-align: center; width: 13%">2018</td><td style="padding-bottom: 1px; text-align: left; width: 1%"> </td><td style="padding-bottom: 1px; width: 3%"> </td> <td style="border-bottom: Black 1px solid; text-align: center; width: 13%">2017</td><td style="padding-bottom: 1px; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected federal tax expense</td><td> </td> <td style="text-align: right">$211,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$239,876</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State tax expense (net of federal)</td><td> </td> <td style="text-align: right">59,126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">30,923</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Federal Income Sur Credit Amortization</td><td> </td> <td style="text-align: right">14,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prior Period Tax Write off</td><td> </td> <td style="text-align: right">(21,232</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px">Other, net</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(7,349</td><td style="padding-bottom: 1px; text-align: left">)</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">14,144</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Actual tax expense</td><td> </td> <td style="text-align: right">$256,557</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$284,943</td><td style="text-align: left"> </td></tr> </table>   On December 22, 2017, the federal Tax Cuts and Jobs Act (“Tax Act”) was signed into law. The Tax Act makes significant changes to the federal tax structure, which will impact the tax liabilities of utility companies. On August 9, 2018 The NYSPSC issued an order in Case 17-M-0815 that required the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. The refund to customers began on October 1, 2018. Impacted customers will experience a decrease of 5.20% on their overall bill in the year starting October 1, 2018 and 7.83% in the year starting October 1, 2019. The amounts returned to customers will be $1,317,719 and $2,112,540 respectively. These refunds will not impact the Company’s allowed earnings. The impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.   The PAPUC issued an order in Case M-2018-2641242 that require the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. Pike’s electric customers will receive a total refund of $73,923 or decrease of 0.67% on their overall bill effective October 1, 2018. No refunds were ordered for Pike’s gas operation because amounts were not material. The impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

Note 11 – Segment Reporting   The Company’s reportable segments have been determined based upon the nature of the products and services offered, customer base, availability of discrete internal financial information, homogeneity of products, delivery channel and other factors.   The Gas Company is a gas distribution company providing gas on a commodity and transportation basis to its customers in the Southern Tier of New York State. Pike provides electricity and natural gas to Pike County, Pennsylvania. The Holding Company is the parent company of all subsidiaries and has a 50% ownership in the Leatherstocking joint ventures. The Appliance Company’s information is presented with the Holding Company as it has little activity.   The following table reflects the results of the segments consistent with the Holding Company’s internal financial reporting process. The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments for the three months ended December 31, 2018 and 2017.   As of and for the three months ended December 31, 2018   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right">Gas Company</td><td> </td> <td colspan="2" style="text-align: right">Pike</td><td> </td> <td colspan="2" style="text-align: right; white-space: nowrap">Holding Company</td><td> </td> <td colspan="2" style="text-align: right">Total Consolidated</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left">Total electric utility revenue</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 11%; text-align: right">$2,400,528</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$2,400,528</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total gas utility revenue</td><td> </td> <td style="text-align: right">$6,550,842</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$516,236</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$7,067,078</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment income</td><td> </td> <td style="text-align: right">($83,980</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($83,980</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity investment (loss)</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($6,879</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">($6,879</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: right">$601,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$233,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($85,998</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$749,794</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax expense (benefit)</td><td> </td> <td style="text-align: right">$212,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$43,549</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$256,557</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: right">$359,386</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$163,589</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$88,015</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$610,990</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation expense</td><td> </td> <td style="text-align: right">$454,695</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$164,754</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$915</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$620,364</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortization expense</td><td> </td> <td style="text-align: right">$53,072</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$77,722</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$8,183</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$138,977</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: right">$84,015,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$26,816,322</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$3,246,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$114,077,688</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Capital expenditures</td><td> </td> <td style="text-align: right">$1,297,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$353,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$1,650,676</td><td style="text-align: left"> </td></tr> </table>   As of and for the three months ended December 31, 2017   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Gas Company</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Pike</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Holding Company</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Total Consolidated</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left">Total electric utility revenue</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 11%; text-align: right">$1,900,570</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$1,900,570</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total gas utility revenue</td><td> </td> <td style="text-align: right">$5,432,840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$437,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$5,869,972</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment income</td><td> </td> <td style="text-align: right">$19,681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$19,681</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity investment (loss)</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($1,066</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">($1,066</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: right">$424,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$46,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($50,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$420,637</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax expense (benefit)</td><td> </td> <td style="text-align: right">$276,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$39,660</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($31,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$284,943</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: right">$358,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$129,082</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$79,169</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$566,534</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation expense</td><td> </td> <td style="text-align: right">$442,545</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$164,240</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$915</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$607,700</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortization expense</td><td> </td> <td style="text-align: right">$47,557</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$48,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$96,229</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: right">$81,907,287</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$23,138,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$3,063,649</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$108,109,333</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Capital expenditures</td><td> </td> <td style="text-align: right">$1,702,185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$76,455</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$1,778,640</td></tr></table>

Components of Net Periodic Benefit Cost:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="5" style="text-align: center">Pension Benefits Three Months Ended December 31,</td><td> </td> <td colspan="5" style="text-align: center">Other Benefits Three Months Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2017</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 39%; text-align: left">Service Cost</td><td style="width: 3%"> </td> <td style="width: 12%; text-align: right">$116,453</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: right">$107,161</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: right">$4,123</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 12%; text-align: right">$4,445</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest Cost</td><td> </td> <td style="text-align: right">258,774</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">240,301</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">11,939</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">12,060</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected return on plan assets</td><td> </td> <td style="text-align: right">(319,966</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">(300,205</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amortization of prior service cost</td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">888</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">887</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px">Amortization of net (gain) loss</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">212,665</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">242,497</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(1,677</td><td style="padding-bottom: 1px; text-align: left">)</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">1,374</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 3px">Net period benefit cost</td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$267,926</td><td style="padding-bottom: 3px; text-align: left"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$289,754</td><td style="padding-bottom: 3px; text-align: left"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$15,273</td><td style="padding-bottom: 3px; text-align: left"> </td><td style="padding-bottom: 3px"> </td> <td style="border-bottom: Black 3px double; text-align: right">$18,766</td></tr></table>

Fair Value Measurements at Reporting Date Using:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Fair Value</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1)</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Level 2</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Level 3</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1px">December 31, 2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td><td style="padding-bottom: 1px"> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 40%; text-align: left">Available-for-sale securities</td><td style="width: 3%"> </td> <td style="width: 9%; text-align: right">$2,122,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 17%; text-align: right">$2,122,337</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 9%; text-align: right">$0</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 9%; text-align: right">$0</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline">September 30, 2018</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Available-for-sale securities</td><td> </td> <td style="text-align: right">$2,193,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,193,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$0</td></tr></table>

A summary of the marketable securities at December 31, 2018 and September 30, 2018 is as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Cost Basis</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Unrealized Gain</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Unrealized Loss</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1px solid">Market Value</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">December 31, 2018</td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 32%; text-align: left">Cash and equivalents</td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$167,601</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 14%; text-align: right">$167,601</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Metlife stock value</td><td> </td> <td style="text-align: right">37,116</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">37,116</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government and agency bonds</td><td> </td> <td style="text-align: right">260,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">2,715</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">257,493</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Corporate bonds</td><td> </td> <td style="text-align: right">188,532</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">3,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">185,382</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Mutual funds</td><td> </td> <td style="text-align: right">22,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,151</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holding Company Preferred A Stock</td><td> </td> <td style="text-align: right">572,875</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,915</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">595,790</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px">Equity securities</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">817,850</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">38,954</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">856,804</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total securities</td><td> </td> <td style="text-align: right">$2,066,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$61,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$6,073</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,122,337</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>September 30, 2018</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cash and equivalents</td><td> </td> <td style="text-align: right">$158,210</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$158,210</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Metlife stock value</td><td> </td> <td style="text-align: right">38,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">38,197</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Government and agency bonds</td><td> </td> <td style="text-align: right">264,376</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">9,246</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">255,130</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Corporate bonds</td><td> </td> <td style="text-align: right">193,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">3,716</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">189,810</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Mutual funds</td><td> </td> <td style="text-align: right">22,359</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">292</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Holding Company Preferred A Stock</td><td> </td> <td style="text-align: right">572,875</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">23,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">549,731</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px">Equity securities</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">813,215</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">167,218</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">980,433</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total securities</td><td> </td> <td style="text-align: right">$2,062,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$167,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$36,398</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,193,578</td></tr></table>

Realized gains included in earnings for the periods reported in investment income are as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="text-align: left">Investment Income</td><td style="padding-bottom: 1px"> </td> <td colspan="5" style="text-align: center; border-bottom: Black 1px solid">Three Months Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">2018</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">2017</td></tr> <tr style="vertical-align: bottom"> <td style="width: 57%; text-align: left">Net gains and losses recognized during the period on investments</td><td style="width: 8%"> </td> <td style="width: 15%; text-align: right">$(15,018</td><td style="width: 1%; text-align: left">)</td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$8,847</td></tr></table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"><tr style="vertical-align: bottom"><td colspan="4">Income tax expense for the three months ended December 31 is as follows:</td><td> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"></td><td> </td> <td colspan="2"></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1px"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center">2018</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: center">2017</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 66%; padding-bottom: 1px">Deferred</td><td style="width: 3%; padding-bottom: 1px"> </td> <td style="width: 13%; border-bottom: Black 1px solid; text-align: right">256,557</td><td style="width: 1%; padding-bottom: 1px; text-align: left"> </td><td style="width: 3%; padding-bottom: 1px"> </td> <td style="width: 13%; border-bottom: Black 1px solid; text-align: right">284,943</td><td style="width: 1%; padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Total</td><td> </td> <td style="text-align: right">$256,557</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$284,943</td></tr></table>

Actual income tax expense differs from the expected tax expense (computed by applying the federal corporate tax rate of 21% before income tax expense) as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1px; width: 66%"> </td><td style="padding-bottom: 1px; width: 3%"> </td> <td style="border-bottom: Black 1px solid; text-align: center; width: 13%">2018</td><td style="padding-bottom: 1px; text-align: left; width: 1%"> </td><td style="padding-bottom: 1px; width: 3%"> </td> <td style="border-bottom: Black 1px solid; text-align: center; width: 13%">2017</td><td style="padding-bottom: 1px; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected federal tax expense</td><td> </td> <td style="text-align: right">$211,333</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$239,876</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State tax expense (net of federal)</td><td> </td> <td style="text-align: right">59,126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">30,923</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Federal Income Sur Credit Amortization</td><td> </td> <td style="text-align: right">14,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prior Period Tax Write off</td><td> </td> <td style="text-align: right">(21,232</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px">Other, net</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">(7,349</td><td style="padding-bottom: 1px; text-align: left">)</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">14,144</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Actual tax expense</td><td> </td> <td style="text-align: right">$256,557</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$284,943</td></tr></table>

The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments for the three months ended December 31, 2018 and 2017.   As of and for the three months ended December 31, 2018   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right">Gas Company</td><td> </td> <td colspan="2" style="text-align: right">Pike</td><td> </td> <td colspan="2" style="text-align: right; white-space: nowrap">Holding Company</td><td> </td> <td colspan="2" style="text-align: right">Total Consolidated</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left">Total electric utility revenue</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 11%; text-align: right">$2,400,528</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$2,400,528</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total gas utility revenue</td><td> </td> <td style="text-align: right">$6,550,842</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$516,236</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$7,067,078</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment income</td><td> </td> <td style="text-align: right">($83,980</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($83,980</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity investment (loss)</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($6,879</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">($6,879</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: right">$601,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$233,793</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($85,998</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$749,794</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax expense (benefit)</td><td> </td> <td style="text-align: right">$212,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$43,549</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$256,557</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: right">$359,386</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$163,589</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$88,015</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$610,990</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation expense</td><td> </td> <td style="text-align: right">$454,695</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$164,754</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$915</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$620,364</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortization expense</td><td> </td> <td style="text-align: right">$53,072</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$77,722</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$8,183</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$138,977</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: right">$84,015,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$26,816,322</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$3,246,356</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$114,077,688</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Capital expenditures</td><td> </td> <td style="text-align: right">$1,297,208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$353,468</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$1,650,676</td><td style="text-align: left"> </td></tr> </table>   As of and for the three months ended December 31, 2017   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Gas Company</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Pike</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Holding Company</td><td style="padding-bottom: 1px"> </td> <td colspan="2" style="text-align: right; border-bottom: Black 1px solid">Total Consolidated</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 30%; text-align: left">Total electric utility revenue</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 11%; text-align: right">$1,900,570</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$-</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$1,900,570</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total gas utility revenue</td><td> </td> <td style="text-align: right">$5,432,840</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$437,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$5,869,972</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Investment income</td><td> </td> <td style="text-align: right">$19,681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$19,681</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Equity investment (loss)</td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($1,066</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">($1,066</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net income (loss)</td><td> </td> <td style="text-align: right">$424,316</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$46,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($50,641</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$420,637</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax expense (benefit)</td><td> </td> <td style="text-align: right">$276,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$39,660</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($31,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$284,943</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: right">$358,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$129,082</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$79,169</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$566,534</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation expense</td><td> </td> <td style="text-align: right">$442,545</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$164,240</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$915</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$607,700</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Amortization expense</td><td> </td> <td style="text-align: right">$47,557</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$48,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$96,229</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total assets</td><td> </td> <td style="text-align: right">$81,907,287</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$23,138,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$3,063,649</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$108,109,333</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Capital expenditures</td><td> </td> <td style="text-align: right">$1,702,185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$76,455</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$1,778,640</td></tr></table>

3777495

100131

-100131

-76307

Note 2 – Revenue From Contracts With Customers   The following table presents, for the three months ended December 31, 2018, revenue from contracts with customers as defined in ASC 606, as well as additional revenue from sources other than contracts with customers, disaggregated by major source.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="8" style="text-align: center">For the three months ended December 31, 2018</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 5.4pt; padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td style="text-align: center; border-bottom: Black 1pt solid">Revenues from contracts with customers</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td style="text-align: center; border-bottom: Black 1pt solid">Other revenues (a)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td style="text-align: center; border-bottom: Black 1pt solid">Total utility operating revenues</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Corning Gas</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 43%; text-align: left; padding-left: 5.4pt">  Residential gas</td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$3,970,033</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">($111,373</td><td style="width: 1%; text-align: left">)</td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$3,858,660</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Commercial gas</td><td> </td> <td style="text-align: right">606,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">606,705</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">  Transportation</td><td> </td> <td style="text-align: right">1,118,428</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">9,141</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">1,127,569</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Street lights gas</td><td> </td> <td style="text-align: right">129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">129</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">  Wholesale</td><td> </td> <td style="text-align: right">764,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">764,651</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Local production</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">186,274</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">6,854</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">193,128</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total Corning Gas</td><td> </td> <td style="text-align: right">$6,646,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($95,378</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$6,550,842</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pike</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Residential gas</td><td> </td> <td style="text-align: right">$405,780</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$7,677</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$413,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Commercial gas</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">102,779</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">102,779</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Total Pike retail gas</td><td> </td> <td style="text-align: right">508,559</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">7,677</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">516,236</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Residential electric</td><td> </td> <td style="text-align: right">1,188,119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">1,210,747</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">  Commercial electric</td><td> </td> <td style="text-align: right">1,155,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">1,155,486</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Electric – street lights</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">34,295</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">34,295</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Total Pike retail electric</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">2,377,900</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">22,628</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">2,400,528</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total Pike</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">$2,886,459</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">$30,305</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">$2,916,764</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Total consolidated utility operating revenue</td><td> </td> <td style="text-align: right">$9,532,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($65,073</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$9,467,606</td><td style="text-align: left"> </td></tr> </table> (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 10.   The Gas Company records revenues from residential and commercial customers based on meters read on a cyclical basis throughout each month, while certain large industrial and utility customers’ meters are read at the end of each month. Several meters are read at the end of each month to calculate local production revenues. The Gas Company does not accrue revenue for gas delivered but not yet billed, as the NYPSC requires that such accounting must be adopted during a rate proceeding which the Gas Company has not done. The Gas Company, as part of its currently effective rate plan, has a weather normalization clause as protection against severe weather fluctuations. This affects space heating customers and is activated when degree days are 2.2% greater or less than the 30-year average. As a result, the effect on revenue fluctuations of weather related gas sales is somewhat moderated.   Pike recognizes revenues for electric and gas service on a monthly billing cycle basis. Pike does not accrue for gas and electricity delivered. Pike does not have a weather normalization clause as protection against severe weather.   In addition to weather normalization, the Gas Company has implemented a revenue decoupling mechanism (RDM). The RDM reconciles actual delivery service revenues to allowed delivery service revenues (which are based on the annual customer and volume forecasts in the last rate case) for certain residential customers. The Gas Company will refund or surcharge customers for differences between actual and allowed revenues. The shortfall or excess after the annual reconciliation will be surcharged or refunded to customers over a twelve-month period starting September 1st each year. Pike does not have a revenue decoupling mechanism as part of their rate structure.   Revenues are recorded as energy is delivered, generated or services are provided and billed to customers. Amounts billed are recorded in customer accounts receivable, with payment generally due the following month.

The following table presents, for the three months ended December 31, 2018, revenue from contracts with customers as defined in ASC 606, as well as additional revenue from sources other than contracts with customers, disaggregated by major source.   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="8" style="text-align: center">For the three months ended December 31, 2018</td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 5.4pt; padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td style="text-align: center; border-bottom: Black 1pt solid">Revenues from contracts with customers</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td style="text-align: center; border-bottom: Black 1pt solid">Other revenues (a)</td><td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td style="text-align: center; border-bottom: Black 1pt solid">Total utility operating revenues</td><td style="text-align: center; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Corning Gas</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 43%; text-align: left; padding-left: 5.4pt">  Residential gas</td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$3,970,033</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">($111,373</td><td style="width: 1%; text-align: left">)</td><td style="width: 3%"> </td> <td style="width: 15%; text-align: right">$3,858,660</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Commercial gas</td><td> </td> <td style="text-align: right">606,705</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">606,705</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">  Transportation</td><td> </td> <td style="text-align: right">1,118,428</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">9,141</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">1,127,569</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Street lights gas</td><td> </td> <td style="text-align: right">129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">129</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">  Wholesale</td><td> </td> <td style="text-align: right">764,651</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">764,651</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Local production</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">186,274</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">6,854</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">193,128</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total Corning Gas</td><td> </td> <td style="text-align: right">$6,646,220</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($95,378</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$6,550,842</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Pike</td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Residential gas</td><td> </td> <td style="text-align: right">$405,780</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$7,677</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$413,457</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Commercial gas</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">102,779</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">102,779</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Total Pike retail gas</td><td> </td> <td style="text-align: right">508,559</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">7,677</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">516,236</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">  Residential electric</td><td> </td> <td style="text-align: right">1,188,119</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">22,628</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">1,210,747</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">  Commercial electric</td><td> </td> <td style="text-align: right">1,155,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">1,155,486</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Electric – street lights</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">34,295</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">-</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">34,295</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1px; padding-left: 5.4pt">  Total Pike retail electric</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">2,377,900</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">22,628</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">2,400,528</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total Pike</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">$2,886,459</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">$30,305</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">$2,916,764</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Total consolidated utility operating revenue</td><td> </td> <td style="text-align: right">$9,532,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">($65,073</td><td style="text-align: left">)</td><td> </td> <td style="text-align: right">$9,467,606</td><td style="text-align: left"> </td></tr> </table> (a) Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See “Regulatory Matters” in Note 10.

As of and for the three months ended December 31, 2018 and 2017, the Joint Ventures financial summary is as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 11pt Calibri, Helvetica, Sans-Serif; margin-left: 40pt"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">2018</td><td> </td> <td colspan="2" style="text-align: center">2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: left">Total assets</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$13,300,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$13,300,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: right">$7,800,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$7,900,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: right">$13,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$2,133</td></tr></table>

100131

6195707

5692658

9532679

3970033

606705

1118428

129

764651

186274

6646220

405780

102779

508559

1188119

1155486

34295

2377900

2886459

The amounts issued were for the following:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 60%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">Shares</td><td> </td> <td colspan="2" style="text-align: center">Amount</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 66%; text-align: justify">Dividend reinvestment program (DRIP)</td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">2,527</td><td style="width: 1%; text-align: left"> </td><td style="width: 3%"> </td> <td style="width: 13%; text-align: right">$43,436</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Directors</td><td> </td> <td style="text-align: right">3,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">48,355</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Leatherstocking Gas Company</td><td> </td> <td style="text-align: right">150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">2,717</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1px">Officers</td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">2,000</td><td style="padding-bottom: 1px; text-align: left"> </td><td style="padding-bottom: 1px"> </td> <td style="border-bottom: Black 1px solid; text-align: right">38,000</td><td style="padding-bottom: 1px; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total</td><td> </td> <td style="text-align: right">7,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: right">$132,508</td><td style="text-align: left"> </td></tr></table>

256557

284943

11000000

140000

360000

2016-06-20 2016-06-20 2469861 82512 61066 61066 78975 5183 2538

0.01

25.00

20.75

105303

244263

9000

105297

120000

3762

1544347 1544347 845708 908892

-21232

14679

13758

2133

13300000

7800000

7900000

0.0520 0.0783 0.0067

1317719

2112540

73923

244263

3463287

0.104

0.059

0.055

0.062

1573706

1566594

1558553

9559035

9098015

-65073 -111373 9141 6854 -95378 7677 7677 22628 22628 30305

-83980

19681

Note 9 – Preferred Stock   The Holding Company filed a Registration Statement on Form S-1 with the Securities and Exchange Commission with respect to a subscription rights offering to its stockholders to issue up to approximately $11.0 million in preferred stock. The subscription rights were distributed on a one-for-one basis to stockholders of record as of April 14, 2016 and expired on June 20, 2016. The Form S-1 covered 2,469,861 subscription rights for the purchase of up to 140,000 shares of 6% Series A Preferred Stock and up to 360,000 shares of 4.8% Series B Preferred Stock. Each subscription right entitled the holder to purchase either: (i) one-eighth share of the 6% Series A Preferred Stock, par value $0.01 per share, for $25.00 per share, or (ii) one-sixth share of the 4.8% Series B Preferred Stock, par value $0.01 per share, for $20.75 per share, which is convertible in accordance with its terms into 1.2 shares of common stock, subject to adjustment. Of the 140,000 shares of Series A Preferred Stock available, 105,303 shares were subscribed and of the 360,000 shares of Series B Preferred Stock available, 244,263 shares were subscribed. In August of 2017 the Company privately placed an additional 105,297 shares of Series A Preferred Stock.   Series A Preferred Stock accrues cumulative dividends at a rate of 6.0% of the liquidation preference per share ($25.00) and are expected to be paid on or about the 14th day of April, July, October and January of each year. The dates of record for the dividends, are March 31, June 30, September 30 and December 31, immediately preceding the relevant dividend payment date. On September 30, 2023, outstanding shares of Series A Preferred Stock will mature and be redeemed solely in cash at a redemption price equal to the liquidation preference per share plus an amount equal to all accrued but unpaid dividends subject to our having funds legally available for redemption under New York law. The dividends for the three months ended December 31, 2018 and 2017 were $82,512 and $78,975, respectively, and these are recorded as interest expense.   In accordance with ASC 480, because of the mandatory redemption feature this is treated as liability. The issuance costs are treated as debt issuance costs and will be amortized over the life of the instrument. The debt issuance costs reduce the carrying value of the liability. The amortization of the Series A Preferred Stock debt issuance costs was $5,183 and $2,538 for the three months ended December 31, 2018 and 2017, respectively.   Series B Preferred Stock accrues cumulative dividends at a rate of 4.8% of the liquidation preference per share ($20.75) and are expected to be paid on or about the 14th day of April, July, October and January of each year. The dates of record for the dividends, if any, will be March 31, June 30, September 30 and December 31, immediately preceding the relevant dividend payment date. Our president, Michael German, owns 9,000 of these shares.   Although by its terms the Series B Preferred Stock is mandatorily redeemable on September 30, 2026, in accordance with ASC 480 it is not considered mandatorily redeemable for accounting purposes as a result of the conversion feature presenting a contingency related to the redemption dates. Accordingly, this is not considered a liability. However, as a result of the decision related to conversion and not reaching redemption resting with the holder, this instrument has been classified as temporary equity in accordance with ASC 480. Upon conversion, the instrument would be reclassified as permanent equity. Dividends were $61,066 for both the three months ended December 31, 2018 and 2017. The issuance costs of approximately $120,000 reduced the initial proceeds and will be accreted until redemption or conversion. During both the three months ended December 31, 2018 and 2017 there was accretion of $3,762.

Other revenues include revenue from alternative revenue programs, such as revenue decoupling mechanisms under New York gas rate plans and weather normalization clauses. This also reflects reductions in revenues resulting from the deferral as regulatory liabilities of the net benefits of the federal Tax Cuts and Jobs Act of 2017. See "Regulatory Matters" in Note 10.

EX-101.SCH 6 cnig-20181231.xsd 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Consolidated Balance Sheets (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Consolidated Statements of Income (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Consolidated Statements of Comprehensive Income (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000007 - Statement - Consolidated Statement of Changes in Stockholders' Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000008 - Statement - Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Revenue From Contracts With Customers link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Pension and Other Post-retirement Benefit Plans link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Financing Activities link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Fair Value of Financial Instruments link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Investment in Joint Ventures link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Effective Tax Rate link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Preferred Stock link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Regulatory Matters link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Segment Reporting link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Revenue From Contracts With Customers (Tables) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Pension and Other Post-retirement Benefit Plans (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Fair Value of Financial Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Stockholders' Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Investment in Joint Ventures (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Effective Tax Rate (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Segment Reporting (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Basis of Presentation (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Revenue From Contracts With Customers (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Pension and Other Post-retirement Benefit Plans (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Pension and Other Post-retirement Benefit Plans (Schedule of Net Period Benefit Cost (Benefit)) (Details) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Financing Activities (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Fair Value of Financial Instruments (Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Fair Value of Financial Instruments (Summary of Marketable Securities) (Details) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Fair Value of Financial Instruments (Schedule of Gains Included in Earnings) (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Stockholders' Equity (Details) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Stockholders’ Equity (Schedule of Stockholders' Equity) (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Investment in Joint Ventures (Schedule of Investment Activity) (Details) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Investment in Joint Ventures (Summary of Joint Ventures financial) (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Effective Tax Rate (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Effective Tax Rate (Schedule of Deferred and Current Income Tax Expense) (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - Effective Tax Rate (Schedule of Income Tax Reconciliation) (Details) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - Preferred Stock (Details) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - Regulatory Matters (Details) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - Segment Reporting (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 cnig-20181231_cal.xml EX-101.DEF 8 cnig-20181231_def.xml EX-101.LAB 9 cnig-20181231_lab.xml Measurement Frequency [Axis] Recurring [Member] Measurement Basis [Axis] Fair Value [Member] Fair Value, Hierarchy [Axis] Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) [Member] Level 2 [Member] Level 3 [Member] Investment Type [Axis] Cash and equivalents [Member] MetLife stock value [Member] Government and agency bonds [Member] Corporate bonds [Member] Equity Securities [Member] Mutual Funds [Member] Holding Company Preferred A Stock [Member] Financing Receivable Portfolio Segment [Axis] Gas Company [Member] Pike [Member] Holding Company [Member] Equity Components [Axis] Common Stock [Member] Additional Paid in Capital [Member] Retained Earnings [Member] Accumulated Other Comprehensive Income (loss) [Member] Retirement Plan Type [Axis] Pension Benefits [Member] Other Benefits [Member] Post-retirement Benefits [Member] Investment, Name [Axis] Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member] Class of Stock [Axis] Series A Cumulative Preferred Stock [Member] Year [Axis] Year May 31, 2019 [Member] Year May 31, 2020 [Member] Year May 31, 2018 [Member] Range [Axis] Maximum [Member] Credit Facility [Axis] Agreement with M&T [Member] Series B Preferred Stock [Member] Series A Preferred Stock [Member] Title Of Individual [Axis] Michael German [Member] Ratemaking and financial statement purposes [Member] Directors [Member] Product Or Service [Axis] Gas Operating Revenues [Member] Electric Operating Revenues [Member] Debt Instrument [Axis] Revolving Credit Facility [Member] Pike line of credit [Member] Corning Residential Gas [Member] Corning Commercial Gas [Member] Corning Transportation [Member] Corning Street Lights Gas [Member] Corning Wholesale [Member] Corning Local Production [Member] Total Corning Gas [Member] Pike Residential Gas [Member] Pike Commercial Gas [Member] Total Pike Retail Gas [Member] Pike Residential Electric [Member] Pike Commercial Electric [Member] Pike Electric - Street Lights [Member] Pike Retail Electric [Member] Officers [Member] Leatherstocking Gas Company [Member] Plan Name [Axis] Dividend reinvestment program (DRIP) [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Related Party Transaction [Axis] Pike's [Member] Total Pike [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Entity Filer Category Entity Small Business Entity Emerging Growth Company Document Fiscal Period Focus Document Fiscal Year Focus Entity Common Stock, Shares Outstanding Statement of Financial Position [Abstract] Assets Plant: Utility property, plant and equipment Less: accumulated depreciation Total plant, net Investments: Marketable securities at fair value Investment in joint ventures Total Investments Current assets: Cash and cash equivalents Customer accounts receivable, (net of allowance for uncollectible accounts of $179,992 and $228,666, respectively) Other accounts receivable Related party receivables Gas stored underground, at average cost Materials and supplies inventories Prepaid expenses Total current assets Regulatory and other assets: Regulatory assets: Unrecovered gas and electric costs Deferred regulatory costs Deferred pension Other Total regulatory and other assets Total assets Liabilities and capitalization Long-term debt, less current installments Less: debt issuance costs Total long-term debt Redeemable preferred stock - Series A (Authorized 255,500 shares. Issued and outstanding: 210,600 shares at December 31, 2018 and 210,600 shares at September 30, 2018, less debt issuance costs of $93,735 and $98,918, respectively) Current liabilities: Current portion of long-term debt Borrowings under lines-of-credit and short-term debt Accounts payable Accrued expenses Customer deposits and accrued interest Dividends declared Total current liabilities Deferred credits and other liabilities: Deferred income taxes Regulatory liabilities Deferred compensation Pension costs and post-retirement benefits Other Total deferred credits and other liabilities Commitments and contingencies Temporary equity: Redeemable convertible preferred stock - Series B (Authorized 244,500 shares. Issued and outstanding: 244,263 shares at December 31 and September 30, 2018) Common stockholders' equity: Common stock ($.01 par value per share. Authorized 4,500,000 shares. Issued and outstanding: 3,029,678 shares at December 31, 2018 and 3,021,851 at September 30, 2018) Additional paid-in capital Retained earnings Accumulated other comprehensive (loss) income Total common stockholders' equity Total liabilities and capitalization Allowance for uncollectible accounts Common stockholders' equity Redeemable preferred stock - Series A, authorized shares Redeemable preferred stock - Series A, shares issued Redeemable preferred stock - Series A, shares outstanding Less debt issuance costs Redeemable preferred stock - Series B, authorized shares Redeemable preferred stock - Series B, shares issued Redeemable preferred stock - Series B, shares outstanding Common stock, par value Common stock, authorized shares Common stock, shares issued Common stock, shares outstanding Statement [Table] Statement [Line Items] Product and Service [Axis] Utility operating revenues: Total utility operating revenues Cost of Sales: Total cost of sales Gross margin Cost and expense: Operating and maintenance expense Taxes other than income taxes Depreciation Other deductions, net Total costs and expenses Utility operating income Other income and (expense): Interest expense Other income Investment (loss) income Loss from joint ventures Rental income Income from utility operations before income taxes Income tax expense, deferred Net income Less Series B Preferred Stock Dividends Net income attributable to common stockholders Weighted average earnings per share- basic diluted Average shares outstanding - basic Average shares outstanding - diluted Income Statement [Abstract] Net income EX-101.PRE 10 cnig-20181231_pre.xml XML 11 R1.htm IDEA: XBRL DOCUMENT

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Dec. 31, 2018	Feb. 08, 2019
Document And Entity Information
Entity Registrant Name	Corning Natural Gas Holding Corp
Entity Central Index Key	0001582244
Document Type	10-Q
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2018
Entity Common Stock, Shares Outstanding		3,032,182

XML 12 R2.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Plant:
Utility property, plant and equipment	$ 116,223,363	$ 114,559,199
Less: accumulated depreciation	(27,599,916)	(26,966,064)
Total plant, net	88,623,447	87,593,135
Investments:
Marketable securities at fair value	2,122,337	2,193,578
Investment in joint ventures	2,733,696	2,740,575
Total Investments	4,856,033	4,934,153
Current assets:
Cash and cash equivalents	549,107	219,962
Customer accounts receivable, (net of allowance for uncollectible accounts of $179,992 and $228,666, respectively)	5,039,937	3,350,700
Other accounts receivable	242,362	385,987
Related party receivables	289,919	208,876
Gas stored underground, at average cost	1,564,798	1,620,916
Materials and supplies inventories	2,081,183	1,818,974
Prepaid expenses	1,154,633	1,468,030
Total current assets	10,921,939	9,073,445
Regulatory assets:
Unrecovered gas and electric costs	776,400	1,236,124
Deferred regulatory costs	4,221,599	4,279,839
Deferred pension	4,100,016	4,043,072
Other	578,254	583,437
Total regulatory and other assets	9,676,269	10,142,472
Total assets	114,077,688	111,743,205
Liabilities and capitalization
Long-term debt, less current installments	37,083,328	36,975,484
Less: debt issuance costs	(284,015)	(338,903)
Total long-term debt	36,799,313	36,636,581
Redeemable preferred stock - Series A (Authorized 255,500 shares. Issued and outstanding: 210,600 shares at December 31, 2018 and 210,600 shares at September 30, 2018, less debt issuance costs of $93,735 and $98,918, respectively)	5,171,265	5,166,082
Current liabilities:
Current portion of long-term debt	3,861,282	3,793,998
Borrowings under lines-of-credit and short-term debt	8,857,089	6,662,357
Accounts payable	2,274,924	3,247,376
Accrued expenses	405,496	410,237
Customer deposits and accrued interest	1,391,523	1,227,398
Dividends declared	484,901	483,806
Total current liabilities	17,275,215	15,825,172
Deferred credits and other liabilities:
Deferred income taxes	5,097,470	4,896,771
Regulatory liabilities	3,777,495	3,777,495
Deferred compensation	1,453,060	1,412,345
Pension costs and post-retirement benefits	6,110,346	6,016,240
Other	194,656	219,948
Total deferred credits and other liabilities	16,633,027	16,322,799
Commitments and contingencies
Temporary equity:
Redeemable convertible preferred stock - Series B (Authorized 244,500 shares. Issued and outstanding: 244,263 shares at December 31 and September 30, 2018)	4,955,609	4,951,847
Common stockholders' equity:
Common stock ($.01 par value per share. Authorized 4,500,000 shares. Issued and outstanding: 3,029,678 shares at December 31, 2018 and 3,021,851 at September 30, 2018)	30,297	30,218
Additional paid-in capital	27,452,591	27,320,162
Retained earnings	5,764,774	5,399,751
Accumulated other comprehensive (loss) income	(4,403)	90,593
Total common stockholders' equity	33,243,259	32,840,724
Total liabilities and capitalization	$ 114,077,688	$ 111,743,205

XML 13 R3.htm IDEA: XBRL DOCUMENT

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Current assets:
Allowance for uncollectible accounts	$ 179,992	$ 228,666
Common stockholders' equity
Redeemable preferred stock - Series A, authorized shares	255,500	255,500
Redeemable preferred stock - Series A, shares issued	210,600	210,600
Redeemable preferred stock - Series A, shares outstanding	210,600	210,600
Less debt issuance costs	$ 93,735	$ 98,918
Redeemable preferred stock - Series B, authorized shares	244,500	244,500
Redeemable preferred stock - Series B, shares issued	244,263	244,263
Redeemable preferred stock - Series B, shares outstanding	244,263	244,263
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	4,500,000	4,500,000
Common stock, shares issued	3,029,678	3,021,851
Common stock, shares outstanding	3,029,678	3,021,851

XML 14 R4.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
Consolidated Statements of Income (Unaudited) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Utility operating revenues:
Total utility operating revenues	$ 9,467,606	$ 7,770,542
Cost of Sales:
Total cost of sales	3,271,899	2,077,884
Gross margin	6,195,707	5,692,658
Cost and expense:
Operating and maintenance expense	2,893,679	2,985,704
Taxes other than income taxes	924,312	837,119
Depreciation	620,364	607,700
Other deductions, net	116,495	76,169
Total costs and expenses	4,554,850	4,506,692
Utility operating income	1,640,857	1,185,966
Other income and (expense):
Interest expense	(610,990)	(566,534)
Other income	55,205	55,395
Investment (loss) income	(83,980)	19,681
Loss from joint ventures	(6,879)	(1,066)
Rental income	12,138	12,138
Income from utility operations before income taxes	1,006,351	705,580
Income tax expense, deferred	(256,557)	(284,943)
Net income	749,794	420,637
Less Series B Preferred Stock Dividends	61,066	61,066
Net income attributable to common stockholders	$ 688,728	$ 359,571
Weighted average earnings per share-
basic	$ 0.23	$ 0.12
diluted	$ 0.23	$ 0.12
Average shares outstanding - basic	3,025,308	2,996,755
Average shares outstanding - diluted	3,318,424	2,996,755
Gas Operating Revenues [Member]
Utility operating revenues:
Total utility operating revenues	$ 7,067,078	$ 5,869,972
Cost of Sales:
Total cost of sales	2,294,669	1,456,190
Electric Operating Revenues [Member]
Utility operating revenues:
Total utility operating revenues	2,400,528	1,900,570
Cost of Sales:
Total cost of sales	$ 977,230	$ 621,694

XML 15 R5.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net income	$ 749,794	$ 420,637
Other comprehensive income:
Net unrealized gain on debt securities available for sale net of tax of $2,046 and $19,613, respectively	5,135	28,814
Total other comprehensive income	5,135	28,814
Total comprehensive income	$ 754,929	$ 449,451

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

XML 16 R6.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net unrealized gain (loss) on securities available for sale, tax	$ 2,046	$ 19,613

XML 17 R7.htm IDEA: XBRL DOCUMENT

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Dec. 31, 2018 - USD ($)	Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (loss) [Member]	Total
Beginning Balance at Sep. 30, 2018	$ 30,218	$ 27,320,162	$ 5,399,751	$ 90,593	$ 32,840,724
Beginning Balance shares at Sep. 30, 2018	3,021,851				3,021,851
Adoption of accounting standard (See Note 1)			100,131	(100,131)
Issuance of common stock	$ 79	132,429			132,508
Issuance of common stock, shares	7,827
Dividends declared on common			(423,836)		(423,836)
Dividends declared on Preferred B Shares			(61,066)		(61,066)
Comprehensive income:
Change in unrealized gain on debt securities available for sale, net of income taxes				5,135	5,135
Net income			749,794		749,794
Ending Balance at Dec. 31, 2018	$ 30,297	$ 27,452,591	$ 5,764,774	$ (4,403)	$ 33,243,259
Ending Balance, shares at Dec. 31, 2018	3,029,678				3,029,678

XML 18 R8.htm IDEA: XBRL DOCUMENT

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 749,794	$ 420,637
Adjustments to reconcile net income to net cash Provided by operating activities:
Depreciation	620,364	607,700
Amortization of debt issuance cost	24,755	32,166
Non-cash pension expenses	235,357	195,013
Regulatory asset amortizations	114,221	96,229
Stock issued for services	89,072	44,628
Loss (Gain) on sale of marketable securities	15,018	(8,847)
Unrealized loss on investments	76,307
Deferred income taxes	256,557	284,943
Bad debt expense	70,000	10,001
Loss on joint ventures	6,879	1,066
(Increase) decrease in:
Accounts receivable	(1,615,612)	(1,753,700)
Gas stored underground	56,118	424,055
Materials and supplies inventories	(262,209)	191,414
Prepaid expenses	313,397	361,557
Unrecovered gas and electric costs	459,724	(549,241)
Deferred regulatory costs	(64,155)	308,408
Other	5,183	6,230
Increase (decrease) in:
Accounts payable	(972,452)	51,544
Accrued expenses	(2,196)	(33,517)
Customer deposits and accrued interest	164,125	284,153
Deferred compensation	40,715	39,362
Deferred pension costs & post-retirement benefits	(198,195)	(253,612)
Other liabilities and deferred credits	(33,898)	(126,067)
Net cash provided by operating activities	148,869	634,122
Cash flows from investing activities:
Purchase of securities, net	(14,949)	(30,519)
Amount paid to related parties	(83,588)	(3,541)
Capital expenditures	(1,650,676)	(1,778,640)
Net cash used in investing activities	(1,749,213)	(1,812,700)
Cash flows from financing activities:
Net proceeds under (repayment of) lines-of-credit	2,194,732	(301,392)
Debt issuance costs paid		(105,902)
Dividends paid	(440,371)	(424,287)
Proceeds under long-term debt	1,018,465	29,000,000
Repayment of long-term debt	(843,337)	(27,248,313)
Net cash provided by financing activities	1,929,489	920,106
Net increase (decrease) in cash and cash equivalents	329,145	(258,472)
Cash and cash equivalents at beginning of period	219,962	442,930
Cash and cash equivalents at end of period	549,107	184,458
Cash paid during the period for:
Interest	463,336	552,749
Income taxes		12,372
Non-cash financing activities:
Dividends paid with shares	$ 43,436	$ 40,769
Number of shares issued for dividends	2,115	2,340

XML 19 R9.htm IDEA: XBRL DOCUMENT

Basis of Presentation

3 Months Ended

Dec. 31, 2018

Basis of Presentation [Abstract]

Basis of Presentation

Note 1 – Basis of Presentation

It is the Holding Company’s policy to reclassify amounts in the prior year financial statements to conform to the current year presentation.

Adoption of New Accounting Guidance

New Accounting Pronouncements Not Yet Adopted

In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases (ASC Topic 842), which requires lessees to recognize substantially all leases on-balance sheet and disclose key information about leasing arrangements. The new standard establishes a right of use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The new standard is effective for annual and interim periods beginning after December 15, 2018. ASU 2016-02 requires entities to adopt a modified retrospective transition method for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. The Company continues to evaluate the impact that adopting ASU 2016-02 will have on its financial statements, but does not believe it will have a material impact at this time.

XML 20 R10.htm IDEA: XBRL DOCUMENT

Revenue From Contracts With Customers

3 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue From Contracts With Customers

Note 2 – Revenue From Contracts With Customers

	For the three months ended December 31, 2018
	Revenues from contracts with customers	Other revenues (a)		Total utility operating revenues
Corning Gas
Residential gas	$3,970,033	($111,373	)	$3,858,660
Commercial gas	606,705	-		606,705
Transportation	1,118,428	9,141		1,127,569
Street lights gas	129	-		129
Wholesale	764,651	-		764,651
Local production	186,274	6,854		193,128
Total Corning Gas	$6,646,220	($95,378	)	$6,550,842

Pike
Residential gas	$405,780	$7,677		$413,457
Commercial gas	102,779	-		102,779
Total Pike retail gas	508,559	7,677		516,236

Residential electric	1,188,119	22,628		1,210,747
Commercial electric	1,155,486	-		1,155,486
Electric – street lights	34,295	-		34,295
Total Pike retail electric	2,377,900	22,628		2,400,528

Total Pike	$2,886,459	$30,305		$2,916,764

Total consolidated utility operating revenue	$9,532,679	($65,073	)	$9,467,606

XML 21 R11.htm IDEA: XBRL DOCUMENT

Pension and Other Post-retirement Benefit Plans

3 Months Ended

Dec. 31, 2018

Pension and Other Post-retirement Benefit Plans [Abstract]

Pension and Other Post-retirement Benefit Plans

Note 3 - Pension and Other Post-Retirement Benefit Plans

Components of Net Periodic Benefit Cost:

	Pension Benefits Three Months Ended December 31,				Other Benefits Three Months Ended December 31,
	2018		2017		2018		2017
Service Cost	$116,453		$107,161		$4,123		$4,445
Interest Cost	258,774		240,301		11,939		12,060
Expected return on plan assets	(319,966	)	(300,205	)	-		-
Amortization of prior service cost	-		-		888		887
Amortization of net (gain) loss	212,665		242,497		(1,677	)	1,374
Net period benefit cost	$267,926		$289,754		$15,273		$18,766

For ratemaking and financial statement purposes, pension expense represents the amount approved by the NYPSC in the Gas Company’s most recently approved rate case. Pension expense (benefit) for ratemaking and financial statement purposes was $245,000 for the three months ended December 31, 2018 and $185,539 for the three months ended December 31, 2017. The difference between the pension expense (benefit) for ratemaking purposes, and the actual pension expense has been deferred as a regulatory asset and amounted to $908,892 and $661,743 at December 31, 2018 and 2017, respectively.

Contributions

XML 22 R12.htm IDEA: XBRL DOCUMENT

Financing Activities

3 Months Ended

Dec. 31, 2018

Financing Activities [Abstract]

Financing Activities

Note 4 – Financing Activities

We are in compliance with our financial covenant calculations as of December 31, 2018.

XML 23 R13.htm IDEA: XBRL DOCUMENT

Fair Value of Financial Instruments

3 Months Ended

Dec. 31, 2018

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

Note 5 - Fair Value of Financial Instruments

The Holding Company has determined the fair value of certain assets through application of FASB ASC 820 “Fair Value Measurements and Disclosures”.

Fair value of assets and liabilities measured on a recurring basis at December 31, 2018 and September 30, 2018 are as follows:

Fair Value Measurements at Reporting Date Using:

	Fair Value	Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1)	Level 2	Level 3
December 31, 2018
Available-for-sale securities	$2,122,337	$2,122,337	$0	$0
September 30, 2018
Available-for-sale securities	$2,193,578	$2,193,578	$0	$0

A summary of the marketable securities at December 31, 2018 and September 30, 2018 is as follows:

	Cost Basis	Unrealized Gain	Unrealized Loss	Market Value
December 31, 2018
Cash and equivalents	$167,601	$-	$-	$167,601
Metlife stock value	37,116	-	-	37,116
Government and agency bonds	260,208	-	2,715	257,493
Corporate bonds	188,532	-	3,150	185,382
Mutual funds	22,359	-	208	22,151
Holding Company Preferred A Stock	572,875	22,915	-	595,790
Equity securities	817,850	38,954	-	856,804
Total securities	$2,066,541	$61,869	$6,073	$2,122,337

September 30, 2018
Cash and equivalents	$158,210	$-	$-	$158,210
Metlife stock value	38,197	-	-	38,197
Government and agency bonds	264,376	-	9,246	255,130
Corporate bonds	193,526	-	3,716	189,810
Mutual funds	22,359	-	292	22,067
Holding Company Preferred A Stock	572,875	-	23,144	549,731
Equity securities	813,215	167,218	-	980,433
Total securities	$2,062,758	$167,218	$36,398	$2,193,578

Realized gains included in earnings for the periods reported in investment income are as follows:

Unrealized losses on equity securities included in investment income for the quarter ended December 31, 2018 were $76,307.

Financial assets and liabilities valued using level 1 inputs are based on unadjusted quoted market prices as of the close of business on the days noted within active markets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 24 R14.htm IDEA: XBRL DOCUMENT

Stockholders' Equity

3 Months Ended

Dec. 31, 2018

Shareholders' Equity Note [Abstract]

Shareholders' Equity

Note 6 – Stockholders’ Equity

For the three months ended December 31, 2018, there were a total of 7,827 shares of common stock issued for $132,508. The amounts issued were for the following:

	Shares	Amount
Dividend reinvestment program (DRIP)	2,527	$43,436
Directors	3,150	48,355
Leatherstocking Gas Company	150	2,717
Officers	2,000	38,000
Total	7,827	$132,508

Shares issued to Leatherstocking Gas were used to compensate its independent director, Carl Hayden.

XML 25 R15.htm IDEA: XBRL DOCUMENT

Investment in Joint Ventures

3 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Investment in Joint Ventures

Note 7 – Investment in Joint Ventures

The following table represents the Holding Company’s investment activity in the Joint Ventures for the three months ended December 31, 2018 and December 31, 2017:

	2018		2017
Beginning balance in investment in joint ventures	$2,740,575		$2,707,406
Loss in joint ventures	(6,879	)	(1,066	)
Ending balance in joint ventures	$2,733,696		$2,706,340

As of and for the three months ended December 31, 2018 and 2017, the Joint Ventures financial summary is as follows:

	2018	2017
Total assets	$13,300,000	$13,300,000
Total liabilities	$7,800,000	$7,900,000
Net loss	$13,758	$2,133

XML 26 R16.htm IDEA: XBRL DOCUMENT

Effective Tax Rate

3 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Effective Tax Rate

Note 8 – Effective Tax Rate

Actual income tax expense differs from the expected tax expense (computed by applying the

federal corporate tax rate of 21% before income tax expense) as follows:

	2018		2017
Expected federal tax expense	$211,333		$239,876
State tax expense (net of federal)	59,126		30,923
Federal Income Sur Credit Amortization	14,679		-
Prior Period Tax Write off	(21,232	)	-
Other, net	(7,349	)	14,144
Actual tax expense	$256,557		$284,943

XML 27 R17.htm IDEA: XBRL DOCUMENT

Preferred Stock

3 Months Ended

Dec. 31, 2018

Preferred Stock [Abstract]

Preferred Stock

Note 9 – Preferred Stock

XML 28 R18.htm IDEA: XBRL DOCUMENT

Regulatory Matters

3 Months Ended

Dec. 31, 2018

Regulated Operations [Abstract]

Regulatory Matters

Note 10 – Regulatory Matters

In addition, the impact of the change in the tax act on deferred regulatory balances will be deferred until the Company’s next base rate case. The company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

The PAPUC issued an order in Case M-2018-2641242 that require the Company to return to customers the difference between the federal income tax allowance in base rates and the new statutory rate of 21%. Pike’s electric customers will receive a refund of $73,923 or decrease of 0.67% on their overall bill effective October 1, 2018. No refunds were ordered for Pike’s gas operation because amounts were not material. The impact of the change in the Tax Act on deferred regulatory balances will be deferred until the Company’s next base rate case. The Company has recorded those amounts as a Regulatory Liabilities on the Accompanying Balance Sheets.

XML 29 R19.htm IDEA: XBRL DOCUMENT

Segment Reporting

3 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Reporting

Note 11 – Segment Reporting

As of and for the three months ended December 31, 2018

	Gas Company		Pike	Holding Company		Total Consolidated
Total electric utility revenue	$-		$2,400,528	$-		$2,400,528
Total gas utility revenue	$6,550,842		$516,236	$-		$7,067,078
Investment income	($83,980	)	$-	$-		($83,980	)
Equity investment (loss)	$-		$-	($6,879	)	($6,879	)
Net income (loss)	$601,999		$233,793	($85,998	)	$749,794
Income tax expense (benefit)	$212,478		$43,549	$530		$256,557
Interest expense	$359,386		$163,589	$88,015		$610,990
Depreciation expense	$454,695		$164,754	$915		$620,364
Amortization expense	$53,072		$77,722	$8,183		$138,977
Total assets	$84,015,010		$26,816,322	$3,246,356		$114,077,688
Capital expenditures	$1,297,208		$353,468	$-		$1,650,676

As of and for the three months ended December 31, 2017

	Gas Company	Pike	Holding Company		Total Consolidated
Total electric utility revenue	$-	$1,900,570	$-		$1,900,570
Total gas utility revenue	$5,432,840	$437,132	$-		$5,869,972
Investment income	$19,681	$-	$-		$19,681
Equity investment (loss)	$-	$-	($1,066	)	($1,066	)
Net income (loss)	$424,316	$46,962	($50,641	)	$420,637
Income tax expense (benefit)	$276,946	$39,660	($31,663	)	$284,943
Interest expense	$358,283	$129,082	$79,169		$566,534
Depreciation expense	$442,545	$164,240	$915		$607,700
Amortization expense	$47,557	$48,672	$-		$96,229
Total assets	$81,907,287	$23,138,397	$3,063,649		$108,109,333
Capital expenditures	$1,702,185	$76,455	$-		$1,778,640

XML 30 R20.htm IDEA: XBRL DOCUMENT

Revenue From Contracts With Customers (Tables)

3 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of contracts with customers

	For the three months ended December 31, 2018
	Revenues from contracts with customers	Other revenues (a)		Total utility operating revenues
Corning Gas
Residential gas	$3,970,033	($111,373	)	$3,858,660
Commercial gas	606,705	-		606,705
Transportation	1,118,428	9,141		1,127,569
Street lights gas	129	-		129
Wholesale	764,651	-		764,651
Local production	186,274	6,854		193,128
Total Corning Gas	$6,646,220	($95,378	)	$6,550,842

Pike
Residential gas	$405,780	$7,677		$413,457
Commercial gas	102,779	-		102,779
Total Pike retail gas	508,559	7,677		516,236

Residential electric	1,188,119	22,628		1,210,747
Commercial electric	1,155,486	-		1,155,486
Electric – street lights	34,295	-		34,295
Total Pike retail electric	2,377,900	22,628		2,400,528

Total Pike	$2,886,459	$30,305		$2,916,764

Total consolidated utility operating revenue	$9,532,679	($65,073	)	$9,467,606

XML 31 R21.htm IDEA: XBRL DOCUMENT

Pension and Other Post-retirement Benefit Plans (Tables)

3 Months Ended

Dec. 31, 2018

Pension and Other Post-retirement Benefit Plans [Abstract]

Schedule of components of net periodic benefit cost

Components of Net Periodic Benefit Cost:

	Pension Benefits Three Months Ended December 31,				Other Benefits Three Months Ended December 31,
	2018		2017		2018		2017
Service Cost	$116,453		$107,161		$4,123		$4,445
Interest Cost	258,774		240,301		11,939		12,060
Expected return on plan assets	(319,966	)	(300,205	)	-		-
Amortization of prior service cost	-		-		888		887
Amortization of net (gain) loss	212,665		242,497		(1,677	)	1,374
Net period benefit cost	$267,926		$289,754		$15,273		$18,766

XML 32 R22.htm IDEA: XBRL DOCUMENT

Fair Value of Financial Instruments (Tables)

3 Months Ended

Dec. 31, 2018

Fair Value of Financial Instruments [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

Fair Value Measurements at Reporting Date Using:

	Fair Value	Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1)	Level 2	Level 3
December 31, 2018
Available-for-sale securities	$2,122,337	$2,122,337	$0	$0
September 30, 2018
Available-for-sale securities	$2,193,578	$2,193,578	$0	$0

Summary of Marketable Securities

A summary of the marketable securities at December 31, 2018 and September 30, 2018 is as follows:

	Cost Basis	Unrealized Gain	Unrealized Loss	Market Value
December 31, 2018
Cash and equivalents	$167,601	$-	$-	$167,601
Metlife stock value	37,116	-	-	37,116
Government and agency bonds	260,208	-	2,715	257,493
Corporate bonds	188,532	-	3,150	185,382
Mutual funds	22,359	-	208	22,151
Holding Company Preferred A Stock	572,875	22,915	-	595,790
Equity securities	817,850	38,954	-	856,804
Total securities	$2,066,541	$61,869	$6,073	$2,122,337

September 30, 2018
Cash and equivalents	$158,210	$-	$-	$158,210
Metlife stock value	38,197	-	-	38,197
Government and agency bonds	264,376	-	9,246	255,130
Corporate bonds	193,526	-	3,716	189,810
Mutual funds	22,359	-	292	22,067
Holding Company Preferred A Stock	572,875	-	23,144	549,731
Equity securities	813,215	167,218	-	980,433
Total securities	$2,062,758	$167,218	$36,398	$2,193,578

Schedule of Gains Included in Earnings

Realized gains included in earnings for the periods reported in investment income are as follows:

Investment Income	Three Months Ended December 31,
	2018		2017
Net gains and losses recognized during the period on investments	$(15,018	)	$8,847

XML 33 R23.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Tables)

3 Months Ended

Dec. 31, 2018

Shareholders' Equity Note [Abstract]

Schedule of Common Stock Issued

The amounts issued were for the following:

	Shares	Amount
Dividend reinvestment program (DRIP)	2,527	$43,436
Directors	3,150	48,355
Leatherstocking Gas Company	150	2,717
Officers	2,000	38,000
Total	7,827	$132,508

XML 34 R24.htm IDEA: XBRL DOCUMENT

Investment in Joint Ventures (Tables)

3 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Schedule of investment in joint ventures

The following table represents the Holding Company’s investment activity in the Joint Ventures for the three months ended December 31, 2018 and December 31, 2017:

	2018		2017
Beginning balance in investment in joint ventures	$2,740,575		$2,707,406
Loss in joint ventures	(6,879	)	(1,066	)
Ending balance in joint ventures	$2,733,696		$2,706,340

Schedule of Joint Ventures Financial Summary

As of and for the three months ended December 31, 2018 and 2017, the Joint Ventures financial summary is as follows:

	2018	2017
Total assets	$13,300,000	$13,300,000
Total liabilities	$7,800,000	$7,900,000
Net loss	$13,758	$2,133

XML 35 R25.htm IDEA: XBRL DOCUMENT

Effective Tax Rate (Tables)

3 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Schedule of Reconciliation of Income Tax

Actual income tax expense differs from the expected tax expense (computed by applying the

federal corporate tax rate of 21% before income tax expense) as follows:

	2018		2017
Expected federal tax expense	$211,333		$239,876
State tax expense (net of federal)	59,126		30,923
Federal Income Sur Credit Amortization	14,679		-
Prior Period Tax Write off	(21,232	)	-
Other, net	(7,349	)	14,144
Actual tax expense	$256,557		$284,943

XML 36 R26.htm IDEA: XBRL DOCUMENT

Segment Reporting (Tables)

3 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of results of the segments consistent with the Holding Company's internal financial reporting process

The following results are used in part, by management, both in evaluating the performance of, and in allocating resources to, each of the segments for the three months ended December 31, 2018 and 2017.

As of and for the three months ended December 31, 2018

	Gas Company		Pike	Holding Company		Total Consolidated
Total electric utility revenue	$-		$2,400,528	$-		$2,400,528
Total gas utility revenue	$6,550,842		$516,236	$-		$7,067,078
Investment income	($83,980	)	$-	$-		($83,980	)
Equity investment (loss)	$-		$-	($6,879	)	($6,879	)
Net income (loss)	$601,999		$233,793	($85,998	)	$749,794
Income tax expense (benefit)	$212,478		$43,549	$530		$256,557
Interest expense	$359,386		$163,589	$88,015		$610,990
Depreciation expense	$454,695		$164,754	$915		$620,364
Amortization expense	$53,072		$77,722	$8,183		$138,977
Total assets	$84,015,010		$26,816,322	$3,246,356		$114,077,688
Capital expenditures	$1,297,208		$353,468	$-		$1,650,676

As of and for the three months ended December 31, 2017

	Gas Company	Pike	Holding Company		Total Consolidated
Total electric utility revenue	$-	$1,900,570	$-		$1,900,570
Total gas utility revenue	$5,432,840	$437,132	$-		$5,869,972
Investment income	$19,681	$-	$-		$19,681
Equity investment (loss)	$-	$-	($1,066	)	($1,066	)
Net income (loss)	$424,316	$46,962	($50,641	)	$420,637
Income tax expense (benefit)	$276,946	$39,660	($31,663	)	$284,943
Interest expense	$358,283	$129,082	$79,169		$566,534
Depreciation expense	$442,545	$164,240	$915		$607,700
Amortization expense	$47,557	$48,672	$-		$96,229
Total assets	$81,907,287	$23,138,397	$3,063,649		$108,109,333
Capital expenditures	$1,702,185	$76,455	$-		$1,778,640

XML 37 R27.htm IDEA: XBRL DOCUMENT

Basis of Presentation (Details)	3 Months Ended
Basis of Presentation (Details)	Dec. 31, 2018 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unrealized gains on equity securities	$ 100,131
Leatherstocking Gas Company LLC And Leatherstocking Pipeline Company LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage of joint venture	50.00%

XML 38 R28.htm IDEA: XBRL DOCUMENT

Revenue From Contracts With Customers (Details) - USD ($)

3 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

$ 9,532,679

Other revenues

^[1]

(65,073)

Total utility operating revenues

9,467,606

$ 7,770,542

Corning Residential Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

3,970,033

Other revenues

(111,373)

Total utility operating revenues

3,858,660

Corning Commercial Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

606,705

Other revenues

Total utility operating revenues

606,705

Corning Transportation [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

1,118,428

Other revenues

9,141

Total utility operating revenues

1,127,569

Corning Street Lights Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

129

Other revenues

Total utility operating revenues

129

Corning Wholesale [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

764,651

Other revenues

Total utility operating revenues

764,651

Corning Local Production [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

186,274

Other revenues

6,854

Total utility operating revenues

193,128

Total Corning Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

6,646,220

Other revenues

(95,378)

Total utility operating revenues

6,550,842

Pike Residential Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

405,780

Other revenues

7,677

Total utility operating revenues

413,457

Pike Commercial Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

102,779

Other revenues

Total utility operating revenues

102,779

Total Pike Retail Gas [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

508,559

Other revenues

7,677

Total utility operating revenues

516,236

Pike Residential Electric [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

1,188,119

Other revenues

22,628

Total utility operating revenues

1,210,747

Pike Commercial Electric [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

1,155,486

Other revenues

Total utility operating revenues

1,155,486

Pike Electric - Street Lights [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

34,295

Other revenues

Total utility operating revenues

34,295

Pike Retail Electric [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

2,377,900

Other revenues

22,628

Total utility operating revenues

2,400,528

Total Pike [Member]

Disaggregation of Revenue [Line Items]

Revenues from contracts with customers

2,886,459

Other revenues

^[1]

30,305

Total utility operating revenues

$ 2,916,764

[1]

XML 39 R29.htm IDEA: XBRL DOCUMENT

Pension and Other Post-retirement Benefit Plans (Narrative) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Pension expense	$ 245,000	$ 185,539
Ratemaking and financial statement purposes [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension expense	908,892	661,743
Post-retirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Other post-retirement benefit expense (benefit)	15,050	11,924
Expected contributions, 2018	711,098
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions, 2018	$ 220,702	$ 350,864

XML 40 R30.htm IDEA: XBRL DOCUMENT

Pension and Other Post-retirement Benefit Plans (Schedule of Net Period Benefit Cost (Benefit)) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits [Member]
Components of net period benefit cost (benefit):
Service Cost	$ 116,453	$ 107,161
Interest Cost	258,774	240,301
Expected return on plan assets	(319,966)	(300,205)
Amortization of prior service cost
Amortization of net (gain) loss	212,665	242,497
Net period benefit cost	267,926	289,754
Other Benefits [Member]
Components of net period benefit cost (benefit):
Service Cost	4,123	4,445
Interest Cost	11,939	12,060
Expected return on plan assets
Amortization of prior service cost	888	887
Amortization of net (gain) loss	(1,677)	1,374
Net period benefit cost	$ 15,273	$ 18,766

XML 41 R31.htm IDEA: XBRL DOCUMENT

Financing Activities (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
Financing Activities (Details) - USD ($)	Nov. 30, 2017	Dec. 31, 2018	Sep. 30, 2018	Aug. 15, 2018
Debt Instrument [Line Items]
Short-term Debt		$ 8,857,089	$ 6,662,357
Agreement with M&T [Member]
Debt Instrument [Line Items]
Amount outstanding	$ 3,500,000
Agreement with M&T [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt, face amount				$ 3,600,000
Interest rate, spread on basis		3.00%	5.26%
Maturity date		Nov. 30, 2028
Amount outstanding		$ 3,600,000
Interest rate		4.71%
Agreement with M&T [Member] \| Pike line of credit [Member]
Debt Instrument [Line Items]
Amount outstanding		$ 510,000
Interest rate		4.89%

XML 42 R32.htm IDEA: XBRL DOCUMENT

Fair Value of Financial Instruments (Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 2,122,337	$ 2,193,578
Recurring [Member] \| Quoted Prices In Active Markets for Identical Assets/Liabilities (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	2,122,337	2,193,578
Recurring [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Recurring [Member] \| Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 2,122,337	$ 2,193,578

XML 43 R33.htm IDEA: XBRL DOCUMENT

Fair Value of Financial Instruments (Summary of Marketable Securities) (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Marketable Securities
Cost Basis	$ 2,066,541	$ 2,062,758
Unrealized Gain	61,869	167,218
Unrealized Loss	6,073	36,398
Market Value	2,122,337	2,193,578
Cash and equivalents [Member]
Marketable Securities
Cost Basis	167,601	158,210
Unrealized Gain
Unrealized Loss
Market Value	167,601	158,210
MetLife stock value [Member]
Marketable Securities
Cost Basis	37,116	38,197
Unrealized Gain
Unrealized Loss
Market Value	37,116	38,197
Government and agency bonds [Member]
Marketable Securities
Cost Basis	260,208	264,376
Unrealized Gain
Unrealized Loss	2,715	9,246
Market Value	257,493	255,130
Corporate bonds [Member]
Marketable Securities
Cost Basis	188,532	193,526
Unrealized Gain
Unrealized Loss	3,150	3,716
Market Value	185,382	189,810
Mutual Funds [Member]
Marketable Securities
Cost Basis	22,359	22,359
Unrealized Gain
Unrealized Loss	208	292
Market Value	22,151	22,067
Holding Company Preferred A Stock [Member]
Marketable Securities
Cost Basis	572,875	572,875
Unrealized Gain	22,915
Unrealized Loss		23,144
Market Value	595,790	549,731
Equity Securities [Member]
Marketable Securities
Cost Basis	817,850	813,215
Unrealized Gain	38,954	167,218
Unrealized Loss
Market Value	$ 856,804	$ 980,433

XML 44 R34.htm IDEA: XBRL DOCUMENT

Fair Value of Financial Instruments (Schedule of Gains Included in Earnings) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized loss on investments	$ 76,307
Gas Company [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gains and losses recognized during the period on investments	(15,018)	8,847
Unrealized loss on investments	$ 76,307

XML 45 R35.htm IDEA: XBRL DOCUMENT

Stockholders' Equity (Details) - USD ($)	3 Months Ended
Stockholders' Equity (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Issuance of common stock for services, shares	7,827
Issuance of common stock for services, value	$ 132,508
Dividends declared on common	423,836	$ 422,740
Dividends declared on Preferred shares	61,066
Series A Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares	$ 78,975	78,975
Liquidation preference per share	$ 25.00
Percentage of dividend rate on preferred shares	6.00%
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Dividends declared on Preferred shares	$ 61,066	$ 61,066
Liquidation preference per share	$ 20.75
Percentage of dividend rate on preferred shares	4.80%
Anti-dilutive shares			244,263

XML 46 R36.htm IDEA: XBRL DOCUMENT

Stockholders’ Equity (Schedule of Stockholders' Equity) (Details)	3 Months Ended
	Dec. 31, 2018 USD ($) shares
Class of Stock [Line Items]
Total \| $	$ 132,508
Total, shares \| shares	7,827
Directors [Member]
Class of Stock [Line Items]
Total \| $	$ 48,355
Total, shares \| shares	3,150
Leatherstocking Gas Company [Member]
Class of Stock [Line Items]
Total \| $	$ 2,717
Total, shares \| shares	150
Officers [Member]
Class of Stock [Line Items]
Total \| $	$ 38,000
Total, shares \| shares	2,000
Dividend reinvestment program (DRIP) [Member]
Class of Stock [Line Items]
Total \| $	$ 43,436
Total, shares \| shares	2,527

XML 47 R37.htm IDEA: XBRL DOCUMENT

Investment in Joint Ventures (Schedule of Investment Activity) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Beginning balance in investment in joint ventures	$ 2,740,575	$ 2,707,406
Loss in joint ventures	(6,879)	(1,066)
Ending balance in joint ventures	$ 2,733,696	$ 2,706,340

- Definition

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

+ References + Details

XML 48 R38.htm IDEA: XBRL DOCUMENT

Investment in Joint Ventures (Summary of Joint Ventures financial) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Total assets	$ 13,300,000	$ 13,300,000
Total liabilities	7,800,000	7,900,000
Net loss	$ 13,758	$ 2,133

XML 49 R39.htm IDEA: XBRL DOCUMENT

Effective Tax Rate (Narrative) (Details) - USD ($)	Oct. 02, 2019	Oct. 02, 2018
Percentage decrease in customer bill		5.20%
Refund amount		$ 1,317,719
Pike's [Member]
Percentage decrease in customer bill		0.67%
Refund amount		$ 73,923
Subsequent Event [Member]
Percentage decrease in customer bill	7.83%
Refund amount	$ 2,112,540

XML 50 R40.htm IDEA: XBRL DOCUMENT

Effective Tax Rate (Schedule of Deferred and Current Income Tax Expense) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Current
Deferred	256,557	284,943
Total	$ 256,557	$ 284,943

XML 51 R41.htm IDEA: XBRL DOCUMENT

Effective Tax Rate (Schedule of Income Tax Reconciliation) (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Federal corporate tax rate	21.00%	21.00%
Expected federal tax expense	$ 211,333	$ 239,876
State tax expense (net of federal)	59,126	30,923
Federal Income Sur Credit Amortization	14,679
Prior Period Tax Write off	(21,232)
Other, net	(7,349)	14,144
Total	$ 256,557	$ 284,943

XML 52 R42.htm IDEA: XBRL DOCUMENT

Preferred Stock (Details) - USD ($)	3 Months Ended
Preferred Stock (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Aug. 31, 2018	Oct. 14, 2016
Gas Company [Member]
Class of Stock [Line Items]
Dividend	$ 82,512	$ 78,975
Amortization of the Series A debt issuance costs	5,183	2,538
Holding Company Preferred A Stock [Member] \| Maximum [Member]
Class of Stock [Line Items]
Subscription rights offering	$ 11,000,000
Series A Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Dividend rate (as a percent)	6.00%
Liquidation preference per share	$ 25.00
Series A Cumulative Preferred Stock [Member] \| Maximum [Member]
Class of Stock [Line Items]
Subscription rights offering	$ 140,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Subscription rights expiration date	Jun. 20, 2016
Dividend rate (as a percent)	4.80%
Dividend	$ 61,066	61,066
Preferred stock par value per share	$ 0.01
Subscription exercise price per share	$ 20.75
Subscribed shares	244,263
Issuance costs	$ 120,000
Liquidation preference per share	$ 20.75
Accretion Expense	$ 3,762	$ 3,762
Series B Preferred Stock [Member] \| Michael German [Member]
Class of Stock [Line Items]
Subscribed shares				9,000
Series B Preferred Stock [Member] \| Maximum [Member]
Class of Stock [Line Items]
Subscription rights offering	$ 360,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Subscription rights expiration date	Jun. 20, 2016
Subscription rights covered by form s-1	$ 2,469,861
Dividend rate (as a percent)	6.00%
Preferred stock par value per share	$ 0.01
Subscription exercise price per share	$ 25.00
Subscribed shares	105,303		105,297
Liquidation preference per share	$ 25.00

XML 53 R43.htm IDEA: XBRL DOCUMENT

Regulatory Matters (Details) - USD ($)				1 Months Ended	3 Months Ended
Regulatory Matters (Details) - USD ($)	Oct. 02, 2019	Oct. 02, 2018	Jun. 15, 2017	Jun. 17, 2016	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Public Utilities, General Disclosures [Line Items]
Increase in revenues from gas delivery service				$ 3,463,287
Total bill impacts on customers, percentage				10.40%
Regulatory Assets					$ 9,098,015		$ 9,559,035
Regulatory assets under deferred accounting petitions					1,544,347		1,544,347
Regulatory assets under regulatory audit					$ 908,892		$ 845,708
Federal corporate tax rate					21.00%	21.00%
Percentage decrease in customer bill		5.20%
Refund amount		$ 1,317,719
Subsequent Event [Member]
Public Utilities, General Disclosures [Line Items]
Percentage decrease in customer bill	7.83%
Refund amount	$ 2,112,540
Pike's [Member]
Public Utilities, General Disclosures [Line Items]
Percentage decrease in customer bill		0.67%
Refund amount		$ 73,923
Year May 31, 2018 [Member]
Public Utilities, General Disclosures [Line Items]
Pro-forma equity ratios			6.20%
Incremental cost			$ 1,558,553
Year May 31, 2019 [Member]
Public Utilities, General Disclosures [Line Items]
Pro-forma equity ratios			5.90%
Incremental cost			$ 1,573,706
Year May 31, 2020 [Member]
Public Utilities, General Disclosures [Line Items]
Pro-forma equity ratios			5.50%
Incremental cost			$ 1,566,594

XML 54 R44.htm IDEA: XBRL DOCUMENT

Segment Reporting (Details) - USD ($)	3 Months Ended
Segment Reporting (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total electric utility revenue	$ 2,400,528	$ 1,900,570
Total gas utility revenue	7,067,078	5,869,972
Investment income	(83,980)	19,681
Equity investment (loss)	(6,879)	(1,066)
Net income (loss)	749,794	420,637
Income tax expense (benefit)	256,557	284,943
Interest expense	610,990	566,534
Depreciation expense	620,364	607,700
Amortization expense	138,977	96,229
Total assets	114,077,688	108,109,333	$ 111,743,205
Capital expenditures	1,650,676	1,778,640
Gas Company [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue	6,550,842	5,432,840
Investment income	(83,980)	19,681
Equity investment (loss)
Net income (loss)	601,999	424,316
Income tax expense (benefit)	212,478	276,946
Interest expense	359,386	358,283
Depreciation expense	454,695	442,545
Amortization expense	53,072	47,557
Total assets	84,015,010	81,907,287
Capital expenditures	1,297,208	1,702,185
Pike [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue	2,400,528	1,900,570
Total gas utility revenue	516,236	437,132
Investment income
Equity investment (loss)
Net income (loss)	233,793	46,962
Income tax expense (benefit)	43,549	39,660
Interest expense	163,589	129,082
Depreciation expense	164,754	164,240
Amortization expense	77,722	48,672
Total assets	26,816,322	23,138,397
Capital expenditures	353,468	76,455
Holding Company [Member]
Segment Reporting Information [Line Items]
Total electric utility revenue
Total gas utility revenue
Investment income
Equity investment (loss)	(6,879)	(1,066)
Net income (loss)	(85,998)	(50,641)
Income tax expense (benefit)	530	(31,663)
Interest expense	88,015	79,169
Depreciation expense	915	915
Amortization expense	8,183
Total assets	3,246,356	3,063,649
Capital expenditures

EXCEL 55 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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�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end XML 56 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 57 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 59 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 118 220 1 true 59 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://corninggas.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Consolidated Balance Sheets (Unaudited) Sheet http://corninggas.com/role/BalanceSheets Consolidated Balance Sheets (Unaudited) Statements 2 false false R3.htm 00000003 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical) Sheet http://corninggas.com/role/BalanceSheetsParenthetical Consolidated Balance Sheets (Unaudited) (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Consolidated Statements of Income (Unaudited) Sheet http://corninggas.com/role/Statement-ConsolidatedStatementsofIncomeandComprehensiveIncome Consolidated Statements of Income (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Consolidated Statements of Comprehensive Income (Unaudited) Sheet http://corninggas.com/role/StatementsOfIncomeAndOtherComprehensiveIncome Consolidated Statements of Comprehensive Income (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) Sheet http://corninggas.com/role/StatementsOfComprehensiveIncomeParenthetical Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) Statements 6 false false R7.htm 00000007 - Statement - Consolidated Statement of Changes in Stockholders' Equity (Unaudited) Sheet http://corninggas.com/role/StatementOfChangesInStockholdersEquity Consolidated Statement of Changes in Stockholders' Equity (Unaudited) Statements 7 false false R8.htm 00000008 - Statement - Consolidated Statements of Cash Flows (Unaudited) Sheet http://corninggas.com/role/StatementsOfCashFlows Consolidated Statements of Cash Flows (Unaudited) Statements 8 false false R9.htm 00000009 - Disclosure - Basis of Presentation Sheet http://corninggas.com/role/BasisOfPresentation Basis of Presentation Notes 9 false false R10.htm 00000010 - Disclosure - Revenue From Contracts With Customers Sheet http://corninggas.com/role/RevenueFromContractsWithCustomers Revenue From Contracts With Customers Notes 10 false false R11.htm 00000011 - Disclosure - Pension and Other Post-retirement Benefit Plans Sheet http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlans Pension and Other Post-retirement Benefit Plans Notes 11 false false R12.htm 00000012 - Disclosure - Financing Activities Sheet http://corninggas.com/role/FinancingActivities Financing Activities Notes 12 false false R13.htm 00000013 - Disclosure - Fair Value of Financial Instruments Sheet http://corninggas.com/role/FairValueOfFinancialInstruments Fair Value of Financial Instruments Notes 13 false false R14.htm 00000014 - Disclosure - Stockholders' Equity Sheet http://corninggas.com/role/ShareholdersEquity Stockholders' Equity Notes 14 false false R15.htm 00000015 - Disclosure - Investment in Joint Ventures Sheet http://corninggas.com/role/InvestmentInJointVentures Investment in Joint Ventures Notes 15 false false R16.htm 00000016 - Disclosure - Effective Tax Rate Sheet http://corninggas.com/role/EffectiveTaxRate Effective Tax Rate Notes 16 false false R17.htm 00000017 - Disclosure - Preferred Stock Sheet http://corninggas.com/role/PreferredStock Preferred Stock Notes 17 false false R18.htm 00000018 - Disclosure - Regulatory Matters Sheet http://corninggas.com/role/Disclosure-RegulatoryMatters Regulatory Matters Notes 18 false false R19.htm 00000019 - Disclosure - Segment Reporting Sheet http://corninggas.com/role/SegmentReporting Segment Reporting Notes 19 false false R20.htm 00000020 - Disclosure - Revenue From Contracts With Customers (Tables) Sheet http://corninggas.com/role/RevenueFromContractsWithCustomersTables Revenue From Contracts With Customers (Tables) Tables http://corninggas.com/role/RevenueFromContractsWithCustomers 20 false false R21.htm 00000021 - Disclosure - Pension and Other Post-retirement Benefit Plans (Tables) Sheet http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlansTables Pension and Other Post-retirement Benefit Plans (Tables) Tables http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlans 21 false false R22.htm 00000022 - Disclosure - Fair Value of Financial Instruments (Tables) Sheet http://corninggas.com/role/FairValueOfFinancialInstrumentsTables Fair Value of Financial Instruments (Tables) Tables http://corninggas.com/role/FairValueOfFinancialInstruments 22 false false R23.htm 00000023 - Disclosure - Stockholders' Equity (Tables) Sheet http://corninggas.com/role/StockholdersEquityTables Stockholders' Equity (Tables) Tables http://corninggas.com/role/ShareholdersEquity 23 false false R24.htm 00000024 - Disclosure - Investment in Joint Ventures (Tables) Sheet http://corninggas.com/role/Disclosure-InvestmentinJointVenturesTables Investment in Joint Ventures (Tables) Tables http://corninggas.com/role/InvestmentInJointVentures 24 false false R25.htm 00000025 - Disclosure - Effective Tax Rate (Tables) Sheet http://corninggas.com/role/EffectiveTaxRateTables Effective Tax Rate (Tables) Tables http://corninggas.com/role/EffectiveTaxRate 25 false false R26.htm 00000026 - Disclosure - Segment Reporting (Tables) Sheet http://corninggas.com/role/SegmentReportingTables Segment Reporting (Tables) Tables http://corninggas.com/role/SegmentReporting 26 false false R27.htm 00000027 - Disclosure - Basis of Presentation (Details) Sheet http://corninggas.com/role/BasisOfPresentationDetails Basis of Presentation (Details) Details http://corninggas.com/role/BasisOfPresentation 27 false false R28.htm 00000028 - Disclosure - Revenue From Contracts With Customers (Details) Sheet http://corninggas.com/role/RevenueFromContractsWithCustomersDetails Revenue From Contracts With Customers (Details) Details http://corninggas.com/role/RevenueFromContractsWithCustomersTables 28 false false R29.htm 00000029 - Disclosure - Pension and Other Post-retirement Benefit Plans (Narrative) (Details) Sheet http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlansNarrativeDetails Pension and Other Post-retirement Benefit Plans (Narrative) (Details) Details http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlansTables 29 false false R30.htm 00000030 - Disclosure - Pension and Other Post-retirement Benefit Plans (Schedule of Net Period Benefit Cost (Benefit)) (Details) Sheet http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlansScheduleOfNetPeriodBenefitCostBenefitDetails Pension and Other Post-retirement Benefit Plans (Schedule of Net Period Benefit Cost (Benefit)) (Details) Details http://corninggas.com/role/PensionAndOtherPost-retirementBenefitPlansTables 30 false false R31.htm 00000031 - Disclosure - Financing Activities (Details) Sheet http://corninggas.com/role/FinancingActivitiesDetails Financing Activities (Details) Details http://corninggas.com/role/FinancingActivities 31 false false R32.htm 00000032 - Disclosure - Fair Value of Financial Instruments (Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) Sheet http://corninggas.com/role/FairValueOfFinancialInstrumentsScheduleOfFairValueOfAssetsAndLiabilitiesMeasuredOnRecurringBasisDetails Fair Value of Financial Instruments (Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis) (Details) Details http://corninggas.com/role/FairValueOfFinancialInstrumentsTables 32 false false R33.htm 00000033 - Disclosure - Fair Value of Financial Instruments (Summary of Marketable Securities) (Details) Sheet http://corninggas.com/role/FairValueOfFinancialInstrumentsSummaryOfMarketableSecuritiesDetails Fair Value of Financial Instruments (Summary of Marketable Securities) (Details) Details http://corninggas.com/role/FairValueOfFinancialInstrumentsTables 33 false false R34.htm 00000034 - Disclosure - Fair Value of Financial Instruments (Schedule of Gains Included in Earnings) (Details) Sheet http://corninggas.com/role/FairValueOfFinancialInstrumentsScheduleOfGainsIncludedInEarningsDetails Fair Value of Financial Instruments (Schedule of Gains Included in Earnings) (Details) Details http://corninggas.com/role/FairValueOfFinancialInstrumentsTables 34 false false R35.htm 00000035 - Disclosure - Stockholders' Equity (Details) Sheet http://corninggas.com/role/StockholdersEquityDetails Stockholders' Equity (Details) Details http://corninggas.com/role/StockholdersEquityTables 35 false false R36.htm 00000036 - Disclosure - Stockholders??? Equity (Schedule of Stockholders' Equity) (Details) Sheet http://corninggas.com/role/StockholdersEquityScheduleOfStockholdersEquityDetails Stockholders??? Equity (Schedule of Stockholders' Equity) (Details) Details 36 false false R37.htm 00000037 - Disclosure - Investment in Joint Ventures (Schedule of Investment Activity) (Details) Sheet http://corninggas.com/role/Disclosure-InvestmentinJointVenturesScheduleofInvestmentActivityDetails Investment in Joint Ventures (Schedule of Investment Activity) (Details) Details http://corninggas.com/role/Disclosure-InvestmentinJointVenturesTables 37 false false R38.htm 00000038 - Disclosure - Investment in Joint Ventures (Summary of Joint Ventures financial) (Details) Sheet http://corninggas.com/role/InvestmentInJointVenturesSummaryOfJointVenturesFinancialDetails Investment in Joint Ventures (Summary of Joint Ventures financial) (Details) Details http://corninggas.com/role/Disclosure-InvestmentinJointVenturesTables 38 false false R39.htm 00000039 - Disclosure - Effective Tax Rate (Narrative) (Details) Sheet http://corninggas.com/role/EffectiveTaxRateNarrativeDetails Effective Tax Rate (Narrative) (Details) Details http://corninggas.com/role/EffectiveTaxRateTables 39 false false R40.htm 00000040 - Disclosure - Effective Tax Rate (Schedule of Deferred and Current Income Tax Expense) (Details) Sheet http://corninggas.com/role/EffectiveTaxRateScheduleOfDeferredAndCurrentIncomeTaxExpenseDetails Effective Tax Rate (Schedule of Deferred and Current Income Tax Expense) (Details) Details http://corninggas.com/role/EffectiveTaxRateTables 40 false false R41.htm 00000041 - Disclosure - Effective Tax Rate (Schedule of Income Tax Reconciliation) (Details) Sheet http://corninggas.com/role/EffectiveTaxRateScheduleOfIncomeTaxReconciliationDetails Effective Tax Rate (Schedule of Income Tax Reconciliation) (Details) Details http://corninggas.com/role/EffectiveTaxRateTables 41 false false R42.htm 00000042 - Disclosure - Preferred Stock (Details) Sheet http://corninggas.com/role/PreferredStockDetails Preferred Stock (Details) Details http://corninggas.com/role/PreferredStock 42 false false R43.htm 00000043 - Disclosure - Regulatory Matters (Details) Sheet http://corninggas.com/role/RegulatoryMattersDetails Regulatory Matters (Details) Details http://corninggas.com/role/Disclosure-RegulatoryMatters 43 false false R44.htm 00000044 - Disclosure - Segment Reporting (Details) Sheet http://corninggas.com/role/SegmentReportingDetails Segment Reporting (Details) Details http://corninggas.com/role/SegmentReportingTables 44 false false All Reports Book All Reports cnig-20181231.xml cnig-20181231.xsd cnig-20181231_cal.xml cnig-20181231_def.xml cnig-20181231_lab.xml cnig-20181231_pre.xml http://fasb.org/srt/2018-01-31 http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/us-gaap/2018-01-31 true true ZIP 61 0001582244-19-000004-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001582244-19-000004-xbrl.zip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
H"K6QE^#TLYAZ3!(WFU/<"H%>GF1) *FL\@+ /!(DGG>'!1#>^F<_ X'R/ MO3"91W'J==TP5;--WG$S,$#7*=R>Z6=L%9!THY"JC0?-'W=10!(OZ"2.+,/B M>]H,#,KG:.(%5W$TS2:=SY:N;BN&5G(RK:WOR,:FJ3ACW!^<4M7[K!NJ;ICV MJ##U/>ZJHMGV>/S,R)1Z?D=P3-72]"U5C>Z[1CZR.Z33H5<5V]C5WO6 2\4^ ME^-2+(>&EY1=+C9#<\>[1RK&ZDZK0?2D-3!]CU(OZ-2A&<(2]L0W+5,"U0Z_<+]X8DMS35DCPBFV]\F)0%?9%I?W1I']7H=RLWA$PNV;A%2!T9.&= M4RB)TZW9%\C[(;K'//-)WMN 3$<2-LW6VUHHQ@*WXZX6]LKNX1Q*0@T 2S>G MZ;@DZIT<5?@G=P[61@?"-'3-,90]@MOQ0!BZK>I[(>N6\J[4P+(8WU'F#.8] M,]Z3D,PV3HH??M$._+YNT8^S&<':H:J5,\;QOA%8#<-[U$%[EGXB4QRE<)UZ M:8:=;6H/]R='2ZR1[^TW %P[0G7U)NP'U>K+VEM:6&OP_6U*.U=UO=Y-:S@ M=XY];S^&[CJVM5_L\<3/KJ3]]3^"])>YE*1/ ?GKJQG\Z)VDJO-4.O<"_R;V9>D_2?! 0"/Q9.G: M"Y.3:Q+[LU^D>R^^]<-WD@+/*K](N-8)_.06/D*@_=G3J_^X37_Y?D>D610$ MT2.VFT]I'79,YC%)*#T!2^D_HP!SI_[C?ZOZ+[G.\A_>_?R7_^UHJOU+(ODE M>I+'BGR?X#/ZT_^*?/CT;_!5AEG@LRBF'Z=W,2'2/2!SET@DG)*I](%,J!XD MZ:HL(?Z2%RY_:K]#2<5?_TB/?K3] Z 5Y2??I$Z(_*J @AAB8N% M'DB,CP8%3C=1"AIR]33R*_W%M '+_$/Z-4_:D\3_-T$0Y^DO4H[M"7LS?#K_ MT42Q_%WU-1%MH$[XUU?:J]8%^"V9$$SC^D7*Z5>L^3[PX#3!RE(2!?[T50$V MOJOEO?09Y#$*'7Y9_.BPT<8#LH#%VS3NQ1VP#KSW-HZR<(HL&L7OI/CVYHVF M&+*F.[)FFC\W<5#QUIR#+>NG.A8!F3&ROR=PY# ^#@L%6/F+HH*3(/"O?U*A M\9 +C=9MR9?2?^I.^_HO57T!R!ACAO1MKS79-A39M,UURZMMB'8X3V-CH-BR MH5C#8S $4_UQYZ=D%2^V>KTUF5XRV%LVY,WENS8;A_ 6G;F M9Q&14V7%:F>VS9';M0AK!.HC&\?#R:PUW-:7Z.VG6-=ERVTG;%_A,QQ@BB7K MAM*R6_1/5(OP7YPG88U:W%A,B$TBR)3/W&:E?NQSKH7^8%6/MJ-Q.33]@-@) M"J5?_8,?DPE8W$M>Q+812JJY6$ I*&:7LQG\K#-B6JTH1$3$BH1%XJ'MF. : M+$^PS1'<@JGP.Y@C6A3F?B.5?G<51[>Q=]]Y4\W1SR%M+#" )&EP).B:R7=C M[P7 +J!?+T0: B>.;BX6A N)4YOX:$IM[R(Z]HA2;\'1U.A%77^0]H]B'Y&Q MMH?#5EA>Q7EST7J/ 9Q@/(*3U%(5?MY8]\6'!;MWC^=MP9X2_]W',,5:,7AI M\#Y+L&-59Y+^BB'#O[QM>; =JUU1I?MUQ1 M63;NQ%0Y;M ITX4WZI&DJJIMZ+5IUNO6V0JN'LV15-50;-OB^RKV!>UL,LGN M672=,@Y2-B9W..^M"$&BS?^5I)>S[]Z/C2CH*J;+Q5-Z+CDDQ#UH>X+-U08# MFN:EAV1:#(/D7O>!P.6Y$-'O2EE3=UV[7O"S;ITM(>O3NLNV#-LVM@'N;#KU M,0+D!=B2YR(\]^9^Z@6;]3JSX1"K?+>SEK=O D0/LFBV86JFJ_:&@QO?O'G' M-UW1^-KGQ7?V6K,'TK L/S-GW;+?R?T\BKWXB0FMHC$9ZS%PEK)T:C;4FN7W M;$0+PS756D5U[V6'A;L'/0%TT^+'XFP-.FZ)SS0&[$(4X9#W6Q).%KNVKB#N MVI2FCDNLIL.Z5:AXYJY!'#S/F_?4; M+GOG<-R[0V@:4:X$I_ MVV*IJJ(;UL@H-DU@* == MG =>DO@SGTRWW"[54#6=[ZG6>]EAX>YS.@Q35RQE!-!!H1ON0!B.:]E\#YEU MJVP%51]]37%MPVZ@7U? N(?.MV%!T]%,E6\4L?SBGDOWX2);LTU-;;;V6E;G M&D?220?;8&\XNJ,T=\?DW[T)"'WT"\=P^:&L:Z"@&=L])Z5T9@<--'>WJ!;H M.<^E)TQ]^$1W55/3>X/%&90+LT:VXAI5T?B&UZUOWPR,/IRCF 8_$:8/)/RT MD&VHH6N&K=MU(!K>O0$$?>P\;+7+#UWM!@3?"'PK&MBN[O*SU1I>W'?M/@:? M8ZF:H_5:ON[3W-S&-57+4ARMS5G::'&N6[O//:K:JF:9O98?3KW0+4NW3$=M MO+\ZW=W;:Q*Z9;MNK=5]1\5F84@%WV#N+(X]L!:I];C8#;LS;73'76K2VG'! MP8#M(T(<0U'-8>#ES]_6+.;:IL%W8FA^^08@]&$R6W%T76N1<.U0E-5D++# MPB5T-O>VII.B&II1;W"V?JFMP>M!,C \+*W>.*L_@,,1S'1T@U=:!EJ^EXL: M3 VC)P3+!CS[Q:'NHP)BUUC5&A;TW))?G)34 MF9R:[3JZV^0<:)B&U+Y>'S)H8$:Z79?\/8S))'H@Q?=(FRR>W'D)'7??T,^] MNP&%PU,Y+N^TU/;P]2"5;5L&GQ>R$82,I[;1F5W%U@W>^55[9??U^IB1BJNI M+L^8*]<$57+N^=.\)' K+XMA.0K?VJ?QU?W7[Q6^-G$D2D\0J(PNAK$_%:/N M-Z.!HSJNO2C_E]Z] 01]E#S%455'[PM$(4QH:M*FKA5+4]P%0AH#K\D,/-X2R>APMA*V\"X[I M.K76APUO[K]\'Y(86FUD=2<(ENFV+1UT4ZF-9EVUPL;0]'+BZV!ZVYL!5%4) M7#Z"OG:6?O+\>',_C.'J;*KU^O=O"$DOC[9I*?J6P"07X=EL1NN227*=W23^ MU/=BS+5*DFA"/ST+I[02MRS$W2Q7Q5!,VVP"=@,0QL.G5]J+KEOU4>$BH]1E M\I]F*[!/!X12EUU2K-K8KT%1NHJC.8G3)S3ZBM$%N^'_3SUM?O9G0@>-I M*58]8C$(.#M!LYQR?O42$5=QYV72!XVE\B3*OR00K)01B7]1A^;2HN?7_ES$O@AD=XL M=;+Y69:(-[F3HIGT>.?#'SZ\HEX1+CWZZ9WTQ8^]&S^-I#*H04&X"*<9]E\F MB2Q]_GPN2QXSB,B4MLBY>:)=<@BKP[BGS'OZ$G?TV)CHV)CHV)CH\-$^-B8Z M-B8Z-B9:QS?'QD3'QD3'QD1C-2;:%+#%7:ZZ&@FDYXVX^%F"9@[JO!V49 I0 M35'&JU]N5+G]$#C6]P(IR>X!EB=J1"6YSI^\"'W:ZJ5.%WB<(-.^DXQ"8=Q* MPVXZ%"MHLM&!;= LEQ7)NNX[_CK"*Z1T1!N<",R\V8^FINJRKBBRHK3+4M&5 MS3%1V(NVR;%&4.6OCW69VK*SAGI[NN5MV1T4,"%T.0SQ!6 SC$4T. RVN2Q? M]ZZPJ;K>LATU?6MM%\D&K_Y2G"F["8I157!N#B8.H"JU0$#N3HY :_KBI7"K M)95^^B+]_Y>A]%]9"'2RJ>YI,9437?M%-&#F![GWG7KF\>NO?[^Z/I<\IM"> M/!$OEN9@1DEI)/GW\X PSS&HJAWOQ:EPU+ES7'QM]@T(""0-?"7&(*QYSV)Y]R'[.FR+!HD@78H8+ZL>DM %= @.!ZDQ0T]5":Y%6?2;&@Q!:; 0^=&C^] MN#A"R1FFS!DC=.ME)-$Y[J=JG?QVHNB6*U.0?-H=#H-'EZC"2V?3:$ZICI4\ MU!YBQ@P&DZ,$M32P=#XF**G\Y*X(*M'9+!AG9A&DXOQJRB\4(+K-]/WE-^HO M/TM>L1:R:92Q %^2W<#;0QS! X;7U)\!-3 $"MRY ,GB4G25^C/UY<".NUT\ M+(Q&UZDWFR&R^(\/9.[%5,Q2@.!3)DJEO(&>3&EPC]P))X<%W>" 1,"';UB, MK S>2 'L'#["@F#8M:C@V9_Q[,%3$>RXY"%CXTXDR_MT2J$ VY22"_8JCYDM M4)8ATD #%K&;\'%F.+9IFA]ZX"7"'"O,Z$6#%^Z%A$PRN@=T:_\.YXK)74KT M]!'YE+.+\>?5\54=^K]N;A5KRL_T+SC[]WZ*E*?]I^@NH/PI)0U\=X-_Q)C, M1,%IDC6,'A@S"\DC_P/03W(ILT2:1T )ENQR>*\E!H5 I8I74+.4%4&Y*MQ'T<>=@)W* M!6U)DH03G" WX^J%[^B?% ;\IZ1*)])K539-!_Y/EZL')2W_QM:IMX@"7'VK MY]]:EFRZAHR!6(^2@=L8YA69S^/HAW\/OPR>).M4^TF6S%/W)PH"OM,\-7^B M6,[9_*P CA:&FW';T1SU;NDMP21YN:?EU0*+!1GE(]SS"5:=G$K?FSF:O9B= M!KE@*P8(905<)R9I%H?TEJ#-KHH0,WSEGBH_,3J O.+D1]$73<(NNY2C"7!" MZ"?WG!B!S0"V %I@0P;&I O\'-,V:PP<.-:D>*MW YN)BRL_2=DIG*)[G*%^I M(U'.KY."-8K3 Y_C$"Q\X32;4(E62!+W[=,T\1[CK85HV=M @@B MYW*K4BCN0;!0WRBNAS_S6 $;]Y.0W'KT!BIQX3JZ(L0SSP\P_02X]IZ 8$?) M@^J"A/K#U(NG\/:X$J;3ZH:D(#1M&@JYAQ57K!2P]KBR;4T5K!3'7V&)"/IXA:08Z"8J?2>S+QLH0T09ACX.=Z M3I,V\ AX,J6/@3!+^4NST,E1:,(>,A6!O_;@ILDE$&=*4%Z@]@1N)U[+[$:> M^O"O*)5N\3(!7 @=K@@7-1BEL%[PQ*03KZURN.1T9N*P2$):M'6HO,(B45Y< MWE!H)M2,84SIW9-\>Y3/ 5 ^$QRH*I=.<]X&T/JH+/%JHPN?.F@$5( M:GAX3#_FZ 9G(7SB3)G>446X_.,9EGE)9EPK5(. M*7*]V"W)W_=T-TJM"BVS\OH'["9("E),N>2A=UZBP726W<('DIO'<;Y3@^D: MC>72,F)6 &7)4CFW3[Z<*(YJ,G4@1N4"MPOWL]A'=FVC$H*GN&)/> 2L&MA? M/%^P(:!,DUPI9),E<>_@6;P6T#"('DNI"I/C#5B M,LO":1T(4&D]JAQ=3M((<[L*#I#.RV<>T=K&ZR?V*:0Y(>",Q*C+34G%8.:I MALH!Q<)GUCZJ/LQ>9[A1.0%0QO1<+"Q+4;%/'?VG=8]3$-"V8+BQ6R/)"4T6 ML*08@"P _M=!OMBY18)N.%6334.IJ:OTC4E!K_S7*+V8QX'?6S[UKE#THD=8 MOE".7MQ)N@#1G[?197(\)UHNXU"/OBUYF-X>R-SX0%@)N[AR]>5!_FH/RX?8 MY=&R&7 6?J35&3E;3M2]NKLZG=.6DIU2?GEA#J2-4F%*K MM&1^IF:)B4/5:QQ% A 0H"4ORI68%G0"YQ0"%B]:N&5=30<2U,2C*1 M@E+=QDOB^&M4R2/ GQ$WUPN60$7+&4T*YM2XR=7$@K7I[U&>H0V/OBAV,-A! M+3Q=U6$M)#'V<#_;W4&MJ4*8UGX\J(,<5.IVX>AU1H/M3:2BX-3)E6NZ#?GA M^6[ >7WMRHKKR KH1/1=,;N-X6/3A*]T$]UIUP2,8O8*I6!QJKXN I9?%>B' MH/>W:1BR;MCXCN8L]?HSR^LP1=F^S35=Q(%)\8A[:Q&6>?# MWL_8CJ!9")(>Q^=Y+_.1RQNV%F.')6G22 HT4 MOV(.?TKHEQN;+%RA7^%NQ7L9+?6J5BG&%OF40#22P+E>%^J9:F$;ZK" ^YW] MFK'[5S!Y_A[%?]+:L"QXPH.FXY'&& %AE\-=_LY"\^-=M1Q\^853PK845N*\ M#;P?&-[&/<3Y@.LQI]P],:7.KQ2E#RO6AIQO=H=4-4VP=\S1617TLO>)4.F=.XUR+ MJB!FP:4H#?$FFY9W,JCC^ @<\CSVPWB0RUN&95EK4P2#*7?P -9RQE/*$Q1[ MK[J[YS&\">/CC!2W)*1&SQ,^0^9IY9K]/?3Q7]A&]WZ*/YAG,79BI8K<]<=S*S7GGZYGM$F-L;5*6 >+C:BSPJ-;'3 MQ$N%<&)CJ>@A J9([J@S_@:YVZ-L H_\,PM9%*K,:%K[=A:+B%*VM3%A$>V2 MN;M4U6(9]!D^@0;+H$B^M_EP9L!X\ CU&W)Z@0:#(':'<[>^8V^ MLWY%5>E;L%1I<6B\P93D:2?^?1H[?NI=$$M0Q^' M1Z5,F%% J*E(0X+,>J014A8L+,1_@T1M%+]KY:P?/F .4E)&&L'2S.[G3'Y2 M:/Z936^K(P4G@J:!) PTC\7"V.% ('*7 %JAU&25^>QMN6 MR$UXILCM+')=X00[R>X',$Z?6* MOP@Q2#VI_(F3%ZJJ%#%BU*EOBE&CP&EW M8 \$F$KE)3CPKO#(AVB#@%J2>$$>R:;Q5KCL8@P/Y]H&E6Y(<98\D[L3F;<' M@]BG "G^GCXR)?,\,0SVL5B/.A-R[1/YDMQ3;137SC4F+I.@P?"B1^B1Z=*Y MSI*W!,IO?A9NG1(X",!%:/T%2(<&UT=A0=9S^Z3STL.Q9*321,J:B<2L330[ M4\KA_T;WJZS<\O$" M%^# ?-53H#AS6U&# A9:LJ3H@>X+2;Z_+^Z LXMCW6U#;SCF/Z3!E0F;NO54 M2NG\X#(L>Y2R5G#--7MQ.E.Y!_".C=:0TKYE=7RAG M.)?F;YE/[24*9U:Z"%^DL_!R*?U AN-?ICE75*/ 7)<)4K_/406K:]/7O]<$ M,]9%G"@J[RVI%+:+,$GCC%D@Q6'1?OD&ID&Y/%L9L_#C/*B)>5R*(JNZFH?C\L-3O:B(2=&M M]:J6BE)$K]1:"4 18*-A\R+!F,]@D?X@9>8HE?\XTI;JDU6G&%9XLP0J6 74 M8_5 &P;G@7?,Q$0_4Q%>SBT=JO'CB6)/)WC5LQSQA!N>SEUJQ7K4^ !RRLL+,J(PERY<\YTWN-K/149#_NJ:Z'Z!9<0++GJ!E4GVWS',TNZ',%1*+NU29 )>RI+!(6(U5 M+JI #,11D1*7M^.CU3,QR>VF7*C@UWD6;&X<>H72XR=RB&)VD?^;3*5ZX>*D?MG5J@<7/-D4A)Q618 ^?Q7W>LIS MB"HP<(Y-RC_*1-1":C'W>TPJKB#WJ1L^+;:*!X&>(GR:^[$7!!)7/;/DBV<_ M-1=J:9D-Q>LZ;_('?SZ5FFC.$I0:Z6ZOI;O,2=9N>R&OW@R39D0QF9.7DG+< MA%4SM'2KD:_RJIJ2?7.3]='C^)5*YKQ2*^?KUI1/3LDO.:7Y,$M?3_A!;0(W9UY#P)?ILKN:Q<%-,>"Z?X4Y\>1!GY+ M&E!H6(B5I0$$47A+ZW;@/E6U7%:?%GM0Y&)6A@AM-T6WG] @*DL""&_S8I+B MP:+4FB6DYAK"G+9="$N+=^%A6CQ+W?@%SD61#8N.4CVV5"0;-@$4ABH#EN+- M8B2L%)%%N7*MD\)0U>.RXJ7R7LKKWIW3ZNQQUIE6[1/!<8L^8T(JQX&LA1XD MU74@N*7"O&R(J4,((04CY\ZR<-A+920M[;Q$93B^' &4EZN(4U;!B8.E2@L:/(LG-)VZE=1DL(&^LQQ4TPVW'OODX8\0JR\SH&GG'[)G., _\FW$@$I MQX#V5MA%S_-=75UYMF!N B?,4PIH4O:'JZ/ &^>1C=OB"[/H/BY9%KL CYVU[8'KVTIKB[[?0_>[ MWKR]=7M7+7%@7.QX*"*,ATC'/76.U-VVCH55V#Y)6^FY?=M%;47;1;"N#'.Q MJ]L8;2.U<>!7;%FUU(.%WY!5[7"I;\B&,4)_^_WUZ[PH1M TGLB^%&RFFF8Z MLFT;K63;3W='S5!D76D_2/N!2E5E5V_O=[\GH#19L9Y5/U.AHQO=-65W14-_SL.+A@*&D61-:5=FNT4FA/!6'XH>/8GV?D!C%(9 M,"X:@$[&$_?/=2N'@L=Q1&MT[#CM!MAA"??VB3>+QP$3?]]@SL//S8VM!S'N MZCZFGM-A-+AV+:M=/G'H!#1/.-*EOV$%B*.,A(E?45 M^OT .RC(^"P]IRCZOO/0STWN^6Z\4-LHH ^U,_ B:1IE-P%I'VIFV;*K=9\R MI0]YOG:*J./*MMF=#0\64=64-;O=A_)\\'1DN\=XM WP[#1!ZT5DH'S*6\3> M>[2VAV:/+H>.65U?%L^CA.^ 6^43U(;@YCUBE[O8T':-XV#MO1?6,X:G,[_SOI.+G/^_RX(O MVD">[S%/NTOCED3 NK@5- &(I27.,?N@2I\H=)&D[ 7%6NG180Q% =@-9FB< MYND+"R_(TW680K/,=6\NKSZ^W_!HP9VEF)U.UC(;O4:GJ&8,=[!64J] G&64 M;2I0N&/(I"!F#66TX)KV8>]X"LLD+I_EZ2QV1*#=/?PIY1):_9Z_OTC;:E13 M$[YS\L(+%_._BM'TK/M)GH7&!FIXF.S%4M1RDL&JM!1DSN?) ,\43+R0\M_> MCH0OA"AJ_!ESP80E6YJFR+:B5>>3'J^\4H#_&==* M)$[2NDRB&8-^PG<9*0_R:]U49,Y M!D5:+6_Z/0'"D@*+?"*0QT,.5GA,1QB5760I-;!,R6,-*FZ*Z5BX:%S,*\K3 MGZ.0G% \I<\7[R^_%3,DLD32?Y+>F*>:]5->Y[K<2>GG6H8W30)?W,:\"SF_ M.I60,_]',?DBE8Q36_VI]JZ*MFDQ_XQ*7HH:ZANU2@6Z!ITM@:-_:'_B-69H M27,ZY^(<3HS/=+*S6Q#6= L73T(-ON8^O Q9GD6+8H(:_(_%B)-RCA-PK%EP M[(M3?RZY[EI&04C:G83/X6>\ FKU?=%/;%E6H0QZ;:IT2FOM2.MP+T^])Y0U M6!G"52B7XB$O%.!$(5]U NHX#C(IA26%!I^JE^#7\_[SCY"B $#.Y5LB#%\<]?Q2EX]02RSMC,ELZBQ=* M-- *#[&]%VAODZ(W85M3[<8ZB!9=:E'E^N3Y\=^PFKIZ-A%<\3*E$PG!EBC< M]58;?*>.%ZM]M772G1(\?+3$M6CTRG5= #I.@6>HR">Q*K M"D+%YW.5-?,M_%I5\-.\#;LE_YSTS_7">I:QQ;:%SL5E5M%=""9%, M:YC\),TO5;1-Z.!$6K8&_Y54B7;JBFYH+RLF0>FKDPP+9!/I7QEU2 DZ+F MF=6I>_&?)$U^8>]A7E3VKOP%C "T6&[-._)2J*K).FMS#E=EA&ZTZE\ED+_D M78$1 SVG$:,#;M&,[H^'%\ R7N4KUTCQC MW1 V1+&X>R@8,=S+^XJ$&E]\5]S0/"8?;E/4]2>G,CN0NBM,3=D?3%FRG4C6-NVQTR':3C5M: MW9F+0E*ZZO & :,[[R$;H';MT2YO 5;:XI2,*>Y2<4P8^[RX&W=C0<@UMB2< M,WNAT206.M,"?D=3:HVCJLN)ZPG%.IMPURRGD+W,:9B?:C3/:4WKG;G1+/D4 MP[*]+4H///W,9L%9"JU3-AH:ZM*>S$D^3#<9KTYPKQ2ONVI;N3'->\HB)3^@ M*/L=;_9W._#F"E!%N1[FT:LH!2O>JOA$=$C_AVED5TPCNZ#34XIR3+;J&5/1 MON0J&A;@+SUS,<6B?MC(AI]34?26;\^W],R;_&X=*1EN.&HQ.+7# ',QIVC7 MV;RMQ"BDZ=)-LR NQZ3P<9%M%]E)$F=^W1A*6Q'>V5*?.K[?7QM9MJY)72R) MY1,795739%UOSPX>KBQRBZ):^] Q6+$%[<5M+P_PO=1P8)MP-N?H'8O7X;0E M^JME.V()Y;YD;:9EAYW<3WG.$;"] [;',KY>U]4PY$-Y[NJR:8M6J"8N8$-5 M1PL'4*<4^>#06EF=24EV?\\-1&2N;.KRJ'?&7C8YBDRN!@>7G^S$OW7TX AH M0F,##39?5G1(?Z^:?O^&4PAE,V'IHC-\,H]#KMJRJ/5L'O;C6*J+!,^BF M[<\'\1M6)88L=0:K0F]).'F"5<+I6!X(S<+>5*)9^:*QER;;:L_^7>/#9-JR MX;9W)Q!3EJ^$[CR*YQ%-Q1Z3Y57'D4V]/5)\9'DJ4675%,W7AH7_NC/4SNU/ MS'_):,, S(<<3:YKLFZ*UMY2-!X7[^*#;5/-H5JE"B'3%Q-3K^(BN?=,ND9E M?B1*FK8F.[9PE[8FN\)I$J(=2],U9=L5J0WN !W-"B?IQZ7)EVUH[J_+G*/: MLK/B]G\FG0)!I+D]VI@=*);MI_N9(.B8ENPHPG=%W/HF92U?=I&3H%B6;!JB M=6Q_;:FR8XFFT[ZV9&5%C\#]I6^LR1,4Z!+="4E>3@K5$3!1#27\Z)AE>01L M[X#MS_75*90^T"6HFG 45=& QMBX9QJF=F1U13/_HR=)1'@&W;27 M%:8V9-T^9F6LAL>5-4,T&H&TE%7]T&2Y"&%JK+]8,4[BR/)4HLJV<,E:JN/* MCE#JRS%,?<@\KKFB):MHZ",628\YAJF?]PG09=40;:ZM:;BRK8N4K/'BPM2Z MK*W(IG@F\4W,W]<:W,3/#,UG'Z=V'44V].[CQ(YQZO5Q:DVV3=%R^%ZO.[![ M DNW9-T5#JJA&PT\SS+Z;T5A+@[236K#A(@7AW380#'>A TBPA:OV/:P:C[L M5WU9\^%#NVH3V9%4AUY&OYIA@[RU&M<>]X)N R7'+EJKF=M67'^GS:F_L,$Y M'Y?']&UW&6V0&C(L?9HKTJFLZD2>QF"^<" NFNU#;%/QB_SDF8L=S,I3@/-\ MF0BC#7"C!)N1XZBRVY"*MRGKCEZ),6SO7 FNM577SN85M&9[!>T;'*JW8F_7 M5="V-\_MV4TN4E\7;/B=1TPABP,Q4(7C7?TI8=S9:2.P^'D^"HA>@>7I;G M!?E)@O,KZ'0L5==D4W'83)EB8$?^ 'UI.?Z26FEEZWI1]F1XN\T2P&Q;@?M& MZD"GKE=TM6O*,KM8Z8PRVYX]B,6>6S^U,]\'_\&?PAD$0X&[L>=Q=!M[]]*; M#]\NKL;4L/56#1M.KB9V)^85P+\V=-G0VW,G]MH6J%.0T;Q-A;;SHB49;')J6P/,5_. M9J#@-YS4_8?J-!Q8V@>N0XQ'PN$<&4M19 F-2(YT1JFB+YC<*(R*HW=ID,69 M2EX896DD-=U-:*OE'@_V4#F[D-#IDS[8D#B$'577::ZDR !A'$C_Z3W!QR_/ MC=1N:M>*)#E;>YI; HS<$IWG#E9U,>-U$V=^ MI&K^YVM#@\O74$ZE'$H*Q!JOH(P_TV5'M]A$\H2=U:.=69KW=2/59M (Y8 M+>=]6Z?*3X5[,?#_E>&45SIKE+Z5X*37.8F9'T=Z\UHS3Q7E9U;T@J-P?\SA M'+/C?E.Q(^RW=Q-E;+(KOEDUTCMT4N)*9_/8#V3IO[+@22X9%U]8, 0\0[S) MG?1$//;%#;GU.!YG_&*5G+GR_#!^40K^['I^EL^#[%^JC: /JX69I/6,9)PZ M'1B)@E RDW)JFYV921J(D2@(R\QTEC;)Q=RW"43$YAN*9=5VL"3A\E8NS](DA0VF<]EK250H@0)$I0E56#J $\L> M!UX+4PR)3?$'/N4J$!"3* ORF;Z3219+_HR?>@)KL0GL*O0G.8(Z8GEDG M"Y76Y >))SZ-FM%?H-2B<4RF;)9/OSAFU PP#RV=B[8T"7<*R:* SPF;AX1G M<72?3U /)E3@LPG8TW8FZ!8PMD'V3CRP# J5P(^9@$'I(3TBDTAWP*;P& E! M5J?^">.C!](8N^PCX,)73JUT.7'V8RPT"[@('W#RU?P6.7! M)S66 26#?LTX2$J!_+DN59Z!U3IAT\RF;2-DK'*A]7-'[M63 MR84R^V9>'HZ[MHYDNZ/Q@+RU^-%Y!I?P4O!Y,/^G:/6+@P&TRWE(-";?QN\? MY-597U%=7X^[K.=5=V!FMTM[_>4==I M<9V4%R.Z]N%:R?=X.6-W& J:KJP*US5-5V17>U:CVC[E)S5W!UYGL70.YJ"? M2F?W$4#Q;Q9A&X>*Y(N,58HRR!'.ZC7.PH&_6-+>M&^YGN[HEH+P798PLG M8V7_,D'<+"L'=.1V\2XTLZ.C19#8Y8B+7U8YC9+&DH1LF=4YYIH%7$ 4D/,L MKS#^K^@FD8 -I3=%1%A3?L%K"CXK/U%_^9DF#"6P8I$<$7B/K+PR?QA@_).P M1_P9(!"FTN3."V\)3;_@84!N3](X ]Z/"4M$?;SS)W=@706!Y-_/O3S_ Q_D M*Z!!S\U2_,<3S8;Q0OCP5 *DS[);H(+DY@E6"-77OU]?79\7Z<4>IGS!ZIB# M=^Z!WJS:)U].%$ M*YJ$=D/21\PQX+'DO#L>.G0\?!"6QQ)MZ@UB],>?A.01".*E&>9",5@J;Q$C M%%6EA%Y2&@$KU,*4MRIC8IR![F/H3$X_5?ING&J9L4@Q\ MEE"'W<@!<.F&;@K#C2:] :0@^\+;Q64I.O:IH__4Y7&W7IO+B$SJ&#+6P/5O MB/0:+$O@9EMUZ4+8XDK59--0X+?)G.4O!$_TK4E!KQSM,$IYMBH*GJHB[81M M$9>,PJ!C/V+DR*OE*4L7"-+-A;<"X:9%"DQ,;C')!;/:;KP =SV' G H'P*< M_: 5F!".=\4GTL3#U,KO>;ITP9EW7I*G,E.6Q2+^@IB8VB=]J^#XS)\A!OG9 MA)T@ZD=]S^"4KN](O:[_94A-W.FKLZO?VZ7%EQ.:J:-9AJH96IYNY*52+C+V M(C%8UFLA-:2:Q+CR_R0UCB*84Q?[DT6! Q$,.^GJ+'/Q0S-3=;1NL:L.%Y0 M**>670D**1<2+">12I@RE6A)*'V-JE.)"6*4Q'GVZ1+ M]B@ H05RQ;+\[Q* M!J>_QU-]#UC'OA<95Q-=TT M.Y#*4J XR/^;K,S0S^4)2[>G2=I4Y(;P/$U[GB*YZ743 QB4;9@H]A*?)52G M"7>;Y!+V.LJ0_J'TW69S?MW,-$**E $@!!53;);A+ U:-I MS+@6"&66RRZ9J/X^AH#*G3\OL%FL2/QG!/PJ/<";L:T1 ^!L/@<3!<5QTX'C M&!E!F\//,#C%.BK1-7($:G<%EM>D],: Y/"8:6-EX! +Y*?RQ8]$I-<>84 MVV@@:!;D4BP7385DPTL+>!5+");(W;)93!A)E2"*B[L$>18D7+[I%4CY^K1" M VM4*2# /L" J8S)"O=>Z-T2!$A&)]$=;2Z+K;R\E.O)2+D$F2B:R90SL=L6 MK#%A3\$J419/J"DML_JC161G/2N!Z"KH'UCBJ7VQT_#K\FUYJ/< <>Z05TWA M*0BU(Z[G8'W^*1=#^1:[='"EZP_2YZ3S:M2:&749V#IT*Y_@=L..AM%C[,WI MVHL";GQL66?ZO M'5UVG9YMVL9*&!&/N40#:)C]VI]XSX>@<4U'WV![\2-#[8^A+-GIF_DWUG8- M HP0\OMKU71C7 :W%%5V7=$R-U]KNB[;KFBYX" ]3:!63TUAM+VS<=RE.]00 MSOT)]88&!F]N2$AF?CH:[305S)_!=+[!P#)TV5R1<[DO4V*P:?&"IB0*(?,O M\JYH8V=SZJ8KZXYPAJ%J >\[PO&^X\C*BHFV>X+*4A6XB Y_H/T',H_)Q&=! MSI'YWC -V7*%VTK5,F3;%&V4]FM70*;7%%FW1-)WMI;Y?&G6V/QOZK)B"^>F MM&W9UH2#RI%51S3KX[6J8^]6D72>;7ST'IU4-MH&&GAMP_^)I[E:LJ-:LBX> MT^NR9@!@IGBJH0J["8+"MYSA1?E0XF%J2- MJ61B@;@NXTPL:(_9:FMOKV>=K:;*+F9,V>TVA1 8/,MLM1%IOV]+>(?9:J9L MZ)KL&,)9Q89NRVK?QC,OT PP9<=R97
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end

Investment Income

Three Months Ended December 31,

Net gains and losses recognized during the period on investments