RGC RESOURCES INC
For the period ended Sep 30, 2024. Filed Dec 5, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Dec 5, 2024
RGCO$23.65+2.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
AS OFSeptember 30, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $894,185 | $1,512,431 |
| Accounts receivable, net | 4,483,739 | 4,194,934 |
| Inventories | 1,799,631 | 1,674,462 |
| Gas in storage | 8,491,490 | 11,185,601 |
| Prepaid income taxes | 2,362,069 | 3,227,544 |
| Regulatory assets | 5,103,910 | 2,854,276 |
| Interest rate swaps | 871,026 | 1,533,057 |
| Other | 1,066,251 | 612,957 |
| Total current assets | 25,072,301 | 26,795,262 |
| UTILITY PROPERTY: | ||
| In service | 345,864,008 | 318,369,891 |
| Accumulated depreciation and amortization | (92,462,376) | (85,752,798) |
| In service, net | 253,401,632 | 232,617,093 |
| Construction work in progress | 8,639,822 | 14,966,458 |
| Utility property, net | 262,041,454 | 247,583,551 |
| OTHER NON-CURRENT ASSETS: | ||
| Regulatory assets | 4,445,044 | 5,389,445 |
| Investment in unconsolidated affiliates | 21,057,222 | 17,187,093 |
| Benefit plan assets | 5,416,536 | 1,901,902 |
| Deferred income taxes | 771,746 | 1,163,594 |
| Interest rate swaps | 1,191,526 | 3,084,398 |
| Other | 703,394 | 624,095 |
| Total other non-current assets | 33,585,468 | 29,350,527 |
| TOTAL ASSETS | $320,699,223 | $303,729,340 |
(Continued)
RGC RESOURCES, INC. AND SUBSIDIARIES
AS OFSeptember 30, 2024 AND 2023
| 2024 | 2023 | |
|---|---|---|
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Current maturities of long-term debt | $800,000 | $10,975,000 |
| Line-of-credit | 11,166,181 | 4,353,572 |
| Dividends payable | 2,050,286 | 1,978,400 |
| Accounts payable | 5,429,703 | 5,838,643 |
| Customer credit balances | 1,915,859 | 1,972,132 |
| Customer deposits | 1,488,113 | 1,476,321 |
| Accrued expenses | 4,988,281 | 4,661,722 |
| Regulatory liabilities | 834,278 | 1,632,716 |
| Other | 25,729 | 30,281 |
| Total current liabilities | 28,698,430 | 32,918,787 |
| LONG-TERM DEBT: | ||
| Notes payable | 136,955,000 | 126,100,000 |
| Unamortized debt issuance costs | (282,092) | (255,272) |
| Long-term debt, net | 136,672,908 | 125,844,728 |
| DEFERRED CREDITS AND OTHER NON-CURRENT LIABILITIES: | ||
| Asset retirement obligations | 11,142,095 | 10,792,831 |
| Regulatory cost of retirement obligations | 14,409,847 | 13,029,376 |
| Benefit plan liabilities | 113,600 | 47,674 |
| Deferred income taxes | 1,890,562 | 2,008,458 |
| Regulatory liabilities | 19,326,567 | 18,031,693 |
| Other | 308,439 | 323,168 |
| Total deferred credits and other non-current liabilities | 47,191,110 | 44,233,200 |
| COMMITMENTS AND CONTINGENCIES (Note 14) | ||
| STOCKHOLDERS' EQUITY: | ||
| Common stock, $5 par value; authorized 20,000,000 shares; issued and outstanding 10,249,899 and 10,015,254 shares in 2024 and 2023, respectively | 51,249,495 | 50,076,270 |
| Preferred stock, no par; authorized 5,000,000 shares; no shares issued and outstanding in 2024 and 2023 | — | — |
| Capital in excess of par value | 47,988,270 | 44,430,786 |
| Retained earnings | 7,572,439 | 3,972,280 |
| Accumulated other comprehensive income | 1,326,571 | 2,253,289 |
| Total stockholders’ equity | 108,136,775 | 100,732,625 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $320,699,223 | $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.