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These excerpts taken from the VVC 10-K filed Feb 19, 2009. Revenues—Revenue
is recognized in the period the gas is delivered to customers or services are
rendered. Revenues are derived principally from sales of gas and
related services to commercial and industrial companies, municipalities, local
distribution companies and other marketing companies. The concentration of
credit risk in the gas industry affects Holdings’ overall exposure to credit
risk because customers may be similarly affected by changes in economic and
other conditions. Holdings has not experienced significant credit losses on
receivables from such sales.
Deferred
revenue at September 30, 2008 and 2007 consists of revenue related to
advance payments from IGC for services to be provided during the heating season.
Revenue deferred at year end will be recognized when the services are delivered.
All deferred revenue as of September 30, 2008 will be recognized during
2009 and 2010.
Revenues—Revenue is recognized in the period the gas is delivered to customers or services are rendered. Revenues are derived principally from sales of gas and related services to commercial and industrial companies, municipalities, local distribution companies and other marketing companies. The concentration of credit risk in the gas industry affects Holdings’ overall exposure to credit risk because customers may be similarly affected by changes in economic and other conditions. Holdings has not experienced significant credit losses on receivables from such sales. Deferred revenue at September 30, 2008 and 2007 consists of revenue related to advance payments from IGC for services to be provided during the heating season. Revenue deferred at year end will be recognized when the services are delivered. All deferred revenue as of September 30, 2008 will be recognized during 2009 and 2010. This excerpt taken from the VVC DEF 14A filed Mar 19, 2008. L. Revenues
Revenues are recorded as products and services are delivered to customers. To more closely match revenues and expenses, the Company records revenues for all gas and electricity delivered to customers but not billed at the end of the accounting period.
This excerpt taken from the VVC DEF 14A filed Mar 20, 2007. K. Revenues
Revenues are recorded as products and services are delivered to customers. To more closely match revenues and expenses, the Company records revenues for all gas and electricity delivered to customers but not billed at the end of the accounting period.
This excerpt taken from the VVC DEF 14A filed Mar 14, 2006. K. Revenues
Revenues are recorded as products and services are delivered to customers. To more closely match revenues and expenses, the Company records revenues for all gas and electricity delivered to customers but not billed at the end of the accounting period.
This excerpt taken from the VVC DEF 14A filed Mar 22, 2005. J. Revenues
Revenues are recorded as products and services are delivered to customers. To more closely match revenues and expenses, the Company records revenues for all gas and electricity delivered to customers but not billed at the end of the accounting period.
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