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Business Segment Data
 12 Months Ended
Dec. 31, 2014
Business Segment Data [Abstract]  
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:   2014   2013   2012
Revenues:                        
   Regulated   $ 103,556     $ 100,910     $ 98,021  
   Non – Regulated     14,143       14,463       12,851  
Inter-segment Elimination     (560 )      (527 )     (493 )
Consolidated Revenues   $ 117,139     $ 114,846     $ 110,379  
                         
Operating Income:                        
   Regulated   $ 32,000     $ 28,744     $ 25,944  
   Non – Regulated     2,392       2,226       1,703  
Consolidated Operating Income   $ 34,392     $ 30,970     $ 27,647  
                         
Depreciation:                        
   Regulated   $ 11,262     $ 10,807     $ 10,241  
   Non – Regulated     182       181       168  
 Consolidated Depreciation   $ 11,444     $ 10,988     $ 10,409  
                         
Other Income (Expense), Net:                        
   Regulated   $ 157     $ 828     $ 1,489  
   Non – Regulated     (75 )      (14 )     94  
Inter-segment Elimination     (485 )      (723 )     (726 )
Consolidated Other Income (Expense), Net   $ (403 )    $ 91     $ 857  
                         
Interest Expense:                        
   Regulated   $ 5,607     $ 5,807     $ 6,725  
   Non – Regulated     91       97       96  
Inter-segment Elimination      (91 )      (97 )     (96 )
Consolidated Interest Charges   $ 5,607     $ 5,807     $ 6,725  
                         
Income Taxes:                        
   Regulated   $ 8,907     $ 7,635     $ 6,579  
   Non – Regulated     1,030       986       804  
Consolidated Income Taxes   $ 9,937     $ 8,621     $ 7,383  
                         
Net Income:                        
   Regulated   $ 17,249     $ 15,504     $ 13,500  
   Non – Regulated     1,196       1,129       896  
Consolidated Net Income   $ 18,445     $ 16,633     $ 14,396  
                         
Capital Expenditures:                        
   Regulated   $ 22,498     $ 19,894     $ 21,149  
   Non – Regulated     98       186       429  
Total Capital Expenditures   $ 22,596     $ 20,080     $ 21,578  

 

(Thousands of Dollars)
    As of
December 31, 2014		   As of
December 31, 2013		  
Assets:                  
Regulated   $ 574,854     $ 529,381    
Non – Regulated     7,252       8,887    
   Inter-segment Elimination     (6,334 )      (7,927 )  
Consolidated Assets   $ 575,772     $ 530,341