XML 31 R17.htm IDEA: XBRL DOCUMENT

SUPPLEMENTAL PRO FORMA INFORMATION

12 Months Ended

Sep. 30, 2022

9. SUPPLEMENTAL PRO FORMA INFORMATION

At September 2021, AMCON held a minority interest of approximately 49% in Team Sledd’s outstanding equity with a carrying value of $9.4 million, and accounted for its ownership interest as an equity method investment. During fiscal 2022, the Company’s equity method investment in Team Sledd became a controlling interest. At September 2022, the Company held a controlling interest in Team Sledd of approximately 56%.

Team Sledd’s summarized financial data prior to the Control Date for the periods ended September 2022 and September 2021 was as follows:


	For the year ended September 2022		For the year ended September 2021
Sales	$	393,606,372	$	684,539,392
Gross profit		21,759,753		34,962,326
Net income before income taxes		4,498,190		8,597,997
Net income attributable to AMCON, net of tax		1,670,133		3,357,978

The following table presents unaudited supplemental pro forma information for Team Sledd from the Control Date through September 2022, which is included in the Company’s consolidated results for fiscal 2022.


Revenue	$	298,410,724
Net income available to common shareholders	$	3,220,702

The following table presents unaudited supplemental pro forma information assuming the Company acquired a 56% interest in Team Sledd on October 1, 2020. These pro forma amounts do not purport to be indicative of the actual results that would have been obtained had the acquisition occurred at that time.


	For the year ended September 2022		For the year ended September 2021
Revenue	$	2,404,404,758	$	2,356,917,973
Net income available to common shareholders	$	16,789,976	$	16,033,112