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Business Segment Data
 12 Months Ended
Dec. 31, 2011
Business Segment Data  
Business Segment Data

Note 8 – Business Segment Data

 

The Company has identified two reportable segments. One is the regulated business of collecting, treating and distributing water on a retail and wholesale basis to residential, commercial, industrial and fire protection customers in parts of New Jersey, Delaware and Pennsylvania. This segment also includes regulated wastewater systems in New Jersey and Delaware. The Company is subject to regulations as to its rates, services and other matters by the states of New Jersey, Delaware and Pennsylvania with respect to utility service within these states. The other segment is primarily comprised of non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware.

 

Inter-segment transactions relating to operational costs are treated as pass-through expenses. Finance charges on inter-segment loan activities are based on interest rates that are below what would normally be charged by a third party lender.

 

   (Thousands of Dollars) 
   Years Ended December 31, 
Operations by Segments:  2011   2010   2009 
Revenues:               
  Regulated  $91,729   $92,378   $80,910 
  Non – Regulated   10,805    10,937    10,857 
Inter-segment Elimination   (465)   (580)   (524)
Consolidated Revenues  $102,069   $102,735   $91,243 
                
Operating Income:               
  Regulated  $22,760   $24,815   $18,117 
  Non – Regulated   1,441    1,782    2,044 
Consolidated Operating Income  $24,201   $26,597   $20,161 
                
Depreciation:               
  Regulated  $9,601   $9,093   $8,401 
  Non – Regulated   145    151    158 
 Consolidated Depreciation  $9,746   $9,244   $8,559 
                
Other Income, Net:               
  Regulated  $1,982   $1,265   $1,565 
  Non – Regulated   896    313    337 
Inter-segment Elimination   (729)   (134)   (176)
Consolidated Other Income, Net  $2,149   $1,444   $1,726 
                
Interest Expense:               
  Regulated  $6,376   $6,925   $6,733 
  Non – Regulated   97    134    193 
Inter-segment Elimination   (97)   (134)   (176)
Consolidated Interest Charges  $6,376   $6,925   $6,750 
                
Net Income:               
  Regulated  $12,088   $13,152   $8,652 
  Non – Regulated   1,359    1,178    1,325 
Consolidated Net Income  $13,447   $14,330   $9,977 
Capital Expenditures:               
  Regulated  $23,125   $29,344   $20,104 
  Non – Regulated   437    260    24 
Total Capital Expenditures  $23,562   $29,604   $20,128 

 

   As of
December 31, 2011		   As of
December 31, 2010		 
Assets:          
  Regulated  $539,947   $486,918 
  Non – Regulated   10,325    8,116 
  Inter-segment Elimination   (12,736)   (5,849)
Consolidated Assets  $537,536   $489,185