RGC RESOURCES INC
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 6, 2024
RGCO$22.70-4.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
| December 31, 2023 | September 30, | |
|---|---|---|
| Unaudited | 2023 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $2,864,737 | $1,512,431 |
| Accounts receivable (less allowance for credit losses of $343,304, and $155,164, respectively) | 13,158,930 | 4,194,934 |
| Materials and supplies | 1,573,190 | 1,674,462 |
| Gas in storage | 10,018,097 | 11,185,601 |
| Prepaid income taxes | 1,084,515 | 3,227,544 |
| Regulatory assets | 2,868,018 | 2,854,276 |
| Interest rate swaps | 1,123,194 | 1,533,057 |
| Other | 2,079,194 | 612,957 |
| Total current assets | 34,769,875 | 26,795,262 |
| UTILITY PROPERTY: | ||
| In service | 323,411,050 | 318,369,891 |
| Accumulated depreciation and amortization | (87,584,583) | (85,752,798) |
| In service, net | 235,826,467 | 232,617,093 |
| Construction work in progress | 14,517,366 | 14,966,458 |
| Utility property, net | 250,343,833 | 247,583,551 |
| OTHER NON-CURRENT ASSETS: | ||
| Regulatory assets | 5,350,191 | 5,389,445 |
| Investment in unconsolidated affiliates | 18,654,928 | 17,187,093 |
| Benefit plan assets | 1,743,208 | 1,901,902 |
| Deferred income taxes | 1,115,898 | 1,163,594 |
| Interest rate swaps | 2,113,007 | 3,084,398 |
| Other | 612,295 | 624,095 |
| Total other non-current assets | 29,589,527 | 29,350,527 |
| TOTAL ASSETS | $314,703,235 | $303,729,340 |
CONDENSED CONSOLIDATED BALANCE SHEETS
| December 31, 2023 | September 30, | |
|---|---|---|
| Unaudited | 2023 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Current maturities of long-term debt | $33,850,000 | $10,975,000 |
| Line-of-credit | 13,252,596 | 4,353,572 |
| Dividends payable | 2,032,679 | 1,978,400 |
| Accounts payable | 6,058,027 | 5,838,643 |
| Customer credit balances | 1,882,100 | 1,972,132 |
| Income taxes payable | 174,440 | — |
| Customer deposits | 1,646,267 | 1,476,321 |
| Accrued expenses | 2,958,931 | 4,661,722 |
| Regulatory liabilities | 2,311,025 | 1,632,716 |
| Other | 30,657 | 30,281 |
| Total current liabilities | 64,196,722 | 32,918,787 |
| LONG-TERM DEBT: | ||
| Notes payable | 102,700,000 | 126,100,000 |
| Unamortized debt issuance costs | (238,804) | (255,272) |
| Long-term debt, net | 102,461,196 | 125,844,728 |
| DEFERRED CREDITS AND OTHER NON-CURRENT LIABILITIES: | ||
| Asset retirement obligations | 10,855,794 | 10,792,831 |
| Regulatory cost of retirement obligations | 13,404,991 | 13,029,376 |
| Benefit plan liabilities | 75,637 | 47,674 |
| Deferred income taxes | 1,959,485 | 2,008,458 |
| Regulatory liabilities | 17,883,751 | 18,031,693 |
| Other | 321,056 | 323,168 |
| Total deferred credits and other non-current liabilities | 44,500,714 | 44,233,200 |
| STOCKHOLDERS’ EQUITY: | ||
| Common stock, $5 par; authorized 20,000,000 shares; issued and outstanding 10,059,621 and 10,015,254 shares, respectively | 50,298,105 | 50,076,270 |
| Preferred stock, no par, authorized 5,000,000 shares; no shares issued and outstanding | — | — |
| Capital in excess of par value | 45,047,443 | 44,430,786 |
| Retained earnings | 6,959,593 | 3,972,280 |
| Accumulated other comprehensive income | 1,239,462 | 2,253,289 |
| Total stockholders’ equity | 103,544,603 | 100,732,625 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $314,703,235 | $303,729,340 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.