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REPORTING SEGMENT AND OTHER OPERATIONS DATA (Tables)
 6 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Information related to the Company's various reporting segments and other operations is detailed below:
 
Three Months Ended
Six Months Ended
 
March 31,
March 31,
(Thousands)
2019
2018
2019
2018
Operating revenues
 
 
 
 
Natural Gas Distribution
 
 
 
 
External customers
$
301,420

$
317,064

$
501,385

$
526,851

Clean Energy Ventures
 
 
 
 
External customers
11,360

12,866

26,257

26,862

Energy Services
 
 
 
 
External customers (1)
541,794

681,475

1,126,754

1,153,646

Intercompany
6,031

43,838

8,338

49,648

Subtotal
860,605

1,055,243

1,662,734

1,757,007

Home Services and Other
 
 
 
 
External customers
11,681

7,638

23,626

16,989

Intercompany
652

623

1,197

1,229

Eliminations
(6,683
)
(44,461
)
(9,535
)
(50,877
)
Total
$
866,255

$
1,019,043

$
1,678,022

$
1,724,348

Depreciation and amortization
 
 
 
 
Natural Gas Distribution
$
13,972

$
13,353

$
27,868

$
26,136

Clean Energy Ventures
8,091

8,928

16,014

17,863

Energy Services (2)
25

15

52

29

Midstream
2

2

3

3

Subtotal
22,090

22,298

43,937

44,031

Home Services and Other
222

189

443

377

Eliminations
(1
)
(27
)
(237
)
(94
)
Total
$
22,311

$
22,460

$
44,143

$
44,314

Interest income (3)
 
 
 
 
Natural Gas Distribution
$
181

$
131

$
380

$
250

Energy Services
14

106

14

106

Midstream
945

771

2,001

1,435

Subtotal
1,140

1,008

2,395

1,791

Home Services and Other
669

354

1,105

558

Eliminations
(1,390
)
(1,168
)
(2,882
)
(2,099
)
Total
$
419

$
194

$
618

$
250

(1)
Includes sales to Canada, which are immaterial.
(2)
The amortization of acquired wholesale energy contracts is excluded above and is included in gas purchases - nonutility on the Unaudited Condensed Consolidated Statements of Operations.
(3)
Included in other income, net on the Unaudited Condensed Consolidated Statements of Operations.
 
Three Months Ended
Six Months Ended
 
March 31,
March 31,
(Thousands)
2019
2018
2019
2018
Interest expense, net of capitalized interest
 
 
 
 
Natural Gas Distribution
$
5,762

$
6,523

$
11,865

$
13,059

Clean Energy Ventures
4,657

4,344

10,085

8,552

Energy Services
1,624

1,203

3,511

2,460

Midstream
565

385

1,108

694

Subtotal
12,608

12,455

26,569

24,765

Home Services and Other
611

21

1,003

111

Eliminations
(710
)
(678
)
(1,577
)
(1,173
)
Total
$
12,509

$
11,798

$
25,995

$
23,703

Income tax provision (benefit)
 
 
 
 
Natural Gas Distribution
$
12,266

$
17,991

$
18,096

$
29,695

Clean Energy Ventures
(14,042
)
(12,722
)
(37,246
)
(86,710
)
Energy Services
(1,388
)
23,965

8,256

37,708

Midstream
1,219

3,131

2,181

(9,712
)
Subtotal
(1,945
)
32,365

(8,713
)
(29,019
)
Home Services and Other
(659
)
(1,281
)
(851
)
10,417

Eliminations
(348
)
(183
)
(349
)
(665
)
Total
$
(2,952
)
$
30,901

$
(9,913
)
$
(19,267
)
Equity in earnings of affiliates
 
 
 
 
Midstream
$
3,998

$
4,068

$
7,799

$
8,197

Eliminations
(627
)
(875
)
(1,267
)
(1,740
)
Total
$
3,371

$
3,193

$
6,532

$
6,457

Net financial earnings (loss)
 
 
 
 
Natural Gas Distribution
$
68,546

$
60,442

$
100,259

$
94,551

Clean Energy Ventures
21,730

10,051

31,935

81,301

Energy Services
19,304

72,832

27,674

93,106

Midstream
4,498

1,315

8,149

18,826

Subtotal
114,078

144,640

168,017

287,784

Home Services and Other
(1,581
)
(2,488
)
(1,505
)
(10,204
)
Eliminations
(80
)
(90
)
(2
)
(185
)
Total
$
112,417

$
142,062

$
166,510

$
277,395

Capital expenditures
 
 
 
 
Natural Gas Distribution
$
79,341

$
55,397

$
139,096

$
102,787

Clean Energy Ventures
20,394

40,605

52,520

58,992

Midstream
(1,689
)
—

—

—

Subtotal
98,046

96,002

191,616

161,779

Home Services and Other
5,055

1,846

5,786

3,159

Total
$
103,101

$
97,848

$
197,402

$
164,938

Investments in equity investees
 
 
 
 
Midstream
$
1,457

$
3,975

$
1,457

$
11,177

Total
$
1,457

$
3,975

$
1,457

$
11,177
Reconciliation of Consolidated NFE to Consolidated Net Income
A reconciliation of consolidated NFE to consolidated net income is as follows:
 
Three Months Ended
Six Months Ended
 
March 31,
March 31,
(Thousands)
2019
2018
2019
2018
Net financial earnings (1)
$
112,417

$
142,062

$
166,510

$
277,395

Less:
 
 
 
 
Unrealized loss (gain) on derivative instruments and related transactions
10,226

(11,608
)
(707
)
23,246

Tax effect
(2,435
)
4,716

149

(3,343
)
Effects of economic hedging related to natural gas inventory
22,367

6,125

756

(19,262
)
Tax effect
(5,316
)
(1,715
)
(180
)
6,529

NFE tax adjustment
14,002

4,278

6,671

6,260

Net income (1)
$
73,573

$
140,266

$
159,821

$
263,965


(1)
Includes income tax benefit related to the Tax Act of $967,000 and $58.5 million, for the three and six months ended March 31, 2018, respectively.
Reconciliation of Assets from Segment to Consolidated
The Company's assets for the various business segments and business operations are detailed below:
(Thousands)
March 31,
2019
September 30,
2018
Assets at end of period:
 
 
Natural Gas Distribution
$
2,790,221

$
2,663,054

Clean Energy Ventures (1)
721,162

865,018

Energy Services
320,476

396,852

Midstream
218,557

242,069

Subtotal
4,050,416

4,166,993

Home Services and Other
195,381

114,732

Intercompany assets (2)
(155,824
)
(138,061
)
Total
$
4,089,973

$
4,143,664

(1)
Includes assets held for sale of $206.9 million for September 30, 2018.
(2)
Consists of transactions between subsidiaries that are eliminated and reclassified in consolidation.