SEC Company Response from ATMOS ENERGY CORP (ATO) (CIK 0000731802) (ATO) — Jan 27, 2020
ATMOS ENERGY CORP (ATO) (CIK 0000731802)
Date: Jan. 27, 2020 · CIK: 0000731802 · Accession: 0000731802-20-000002
AI Filing Summary & Sentiment
File numbers found in text: 001-10042
Referenced dates: January 21, 2020
Letter
Division of Corporation Finance Office of Energy & Transportation Re: Atmos Energy Corporation Form 10-K for the Fiscal Year Ended September 30, 2019 Filed November 12, 2019 File No. 001-10042
Dear Mr. Rodriguez:
We are responding to your letter dated January 21, 2020, commenting on our most recent Form 10-K filed with the Commission on November 12, 2019. We have repeated your comments from such letter below, followed by our response to the comments in bold print. We intend to comply with the comments in all future filings, as applicable.
Form 10-K for the Fiscal Year Ended September 30, 2019
Selected Financial Data, page 21
1. Please label “Contribution Margin” as a non-GAAP measure and present the disclosures and reconciliation required by Item 10(e)(1)(i) of Regulation S-K.
The Company respectfully acknowledges the Staff’s comment. The Company has decided to transition away from using contribution margin when discussing our financial results in future filings. As such, the Company will remove references to contribution margin when discussing our financial results in all future Form 10-K and 10-Q filings and in all future earnings releases furnished as exhibits to Form 8-K filings, beginning with our earnings release and Form 10-Q for the three months ended December 31, 2019.
Mr. Gus Rodriguez
U.S. Securities and Exchange Commission
January 27, 2020
Page 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Non-GAAP Financial Measures, page 25.
2. Please present a reconciliation for your contribution margin non-GAAP measure. In doing so, reconcile this measure to the most directly comparable GAAP measure of gross margin. If you do not believe gross margin that includes depreciation and amortization is the most directly comparable GAAP measure, please tell us why in your response. Refer to Item 10(e)(1)(i)(B) of Regulation S-K.
The Company respectfully acknowledges the Staff’s comment. The Company has decided to transition away from using contribution margin when discussing our financial results in future filings. As such, the Company will remove references to contribution margin when discussing our financial results in all future Form 10-K and 10-Q filings and in all future earnings releases furnished as exhibits to Form 8-K filings, beginning with our earnings release and Form 10-Q for the three months ended December 31, 2019.
Mr. Gus Rodriguez
U.S. Securities and Exchange Commission
January 27, 2020
Page 3
If you have any questions or comments on this letter, please direct them to our Controller, Richard M. Thomas at (972) 855-3748, or in his absence, to me at (972) 855-3214. Thank you for your attention.
Sincerely,
/s/ CHRISTOPHER T. FORSYTHE
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January 27, 2020
By: EDGAR Transmission - Correspondence Filing
Mr. Gus Rodriguez
Accounting Branch Chief
Division of Corporation Finance
Office of Energy & Transportation
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549
Re: Atmos Energy Corporation
Form 10-K for the Fiscal Year Ended September 30, 2019
Filed November 12, 2019
File No. 001-10042
Dear Mr. Rodriguez:
We are responding to your letter dated January 21, 2020, commenting on our most recent Form 10-K filed with the Commission on November 12, 2019. We have repeated your comments from such letter below, followed by our response to the comments in bold print. We intend to comply with the comments in all future filings, as applicable.
Form 10-K for the Fiscal Year Ended September 30, 2019
Selected Financial Data, page 21
1. Please label “Contribution Margin” as a non-GAAP measure and present the disclosures and reconciliation required by Item 10(e)(1)(i) of Regulation S-K.
The Company respectfully acknowledges the Staff’s comment. The Company has decided to transition away from using contribution margin when discussing our financial results in future filings. As such, the Company will remove references to contribution margin when discussing our financial results in all future Form 10-K and 10-Q filings and in all future earnings releases furnished as exhibits to Form 8-K filings, beginning with our earnings release and Form 10-Q for the three months ended December 31, 2019.
Mr. Gus Rodriguez
U.S. Securities and Exchange Commission
January 27, 2020
Page 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Non-GAAP Financial Measures, page 25.
2. Please present a reconciliation for your contribution margin non-GAAP measure. In doing so, reconcile this measure to the most directly comparable GAAP measure of gross margin. If you do not believe gross margin that includes depreciation and amortization is the most directly comparable GAAP measure, please tell us why in your response. Refer to Item 10(e)(1)(i)(B) of Regulation S-K.
The Company respectfully acknowledges the Staff’s comment. The Company has decided to transition away from using contribution margin when discussing our financial results in future filings. As such, the Company will remove references to contribution margin when discussing our financial results in all future Form 10-K and 10-Q filings and in all future earnings releases furnished as exhibits to Form 8-K filings, beginning with our earnings release and Form 10-Q for the three months ended December 31, 2019.
Mr. Gus Rodriguez
U.S. Securities and Exchange Commission
January 27, 2020
Page 3
If you have any questions or comments on this letter, please direct them to our Controller, Richard M. Thomas at (972) 855-3748, or in his absence, to me at (972) 855-3214. Thank you for your attention.
Sincerely,
/s/ CHRISTOPHER T. FORSYTHE
Christopher T. Forsythe
Senior Vice President and
Chief Financial Officer
cc: Ms. Yong Kim
U.S. Securities and Exchange Commission