Business Segments We have three reportable business segments, regulated utility, regulated non-utility activities and unregulated non-utility activities. Our segments are identified based on products and services, regulatory environments and our current corporate organization and business decision-making activities. The regulated utility segment is the gas distribution business, where we include the operations of merchandising and its related service work and home service agreements, with activities conducted by the parent company. Although the operations of our regulated utility segment are located in three states under the jurisdiction of individual state regulatory commissions, the operations are managed as one unit having similar economic and risk characteristics within one company. Prior to this fiscal year ended October 31, 2014, we aggregated the regulated non-utility activities and unregulated non-utility activities into one segment, the non-utility activities segment. These activities shared a majority of characteristics that permitted aggregation under relevant accounting guidance. Based on this accounting guidance, the unaggregated operating activities individually have never met the quantitative thresholds for separate disclosure. In September 2014 with the formation of ACP and our equity membership in the venture, our current and future commitment to fund construction of regulated pipelines through our equity method investments became more significant and, as a result, we have changed our segment presentation to separately disclose our non-utility activities into regulated non-utility and unregulated non-utility activities. The effect on our company's risk profile of regulation versus non-regulation of our equity method investments and management s view that this segmentation will provide disclosures that will help users of our financial statements to better understand how management assesses organizational performance and makes decisions about the allocation of resources were key factors in our deci