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Business Segment Data

12 Months Ended

Dec. 31, 2018

Segment Reporting [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:		2018				2017				2016
Revenues:
Regulated		$	121,901			$	115,454			$	118,017
Non – Regulated			16,778				15,912				15,388
Inter-segment Elimination			(602	)			(591	)			(499	)
Consolidated Revenues		$	138,077			$	130,775			$	132,906
Operating Income:
Regulated		$	34,127			$	35,130			$	37,871
Non – Regulated			3,015				2,668				2,431
Consolidated Operating Income		$	37,142			$	37,798			$	40,302
Depreciation:
Regulated		$	14,846			$	13,732			$	12,606
Non – Regulated			191				190				190
Consolidated Depreciation		$	15,037			$	13,922			$	12,796
Other Income (Expense), Net:
Regulated		$	3,284			$	2,020			$	1,109
Non – Regulated			119				64				(1,308	)
Inter-segment Elimination			(411	)			(467	)			(333	)
Consolidated Other Income (Expense), Net		$	2,992			$	1,617			$	(532	)
Interest Expense:
Regulated		$	7,060			$	5,855			$	5,293
Non – Regulated			109				118				89
Inter-segment Elimination			(411	)			(467	)			(89	)
Consolidated Interest Charges		$	6,758			$	5,506			$	5,293
Income Taxes:
Regulated		$	(54	)		$	9,848			$	11,091
Non – Regulated			978				1,252				644
Consolidated Income Taxes		$	924			$	11,100			$	11,735
Net Income:
Regulated		$	30,405			$	21,447			$	22,353
Non – Regulated			2,047				1,362				389
Consolidated Net Income		$	32,452			$	22,809			$	22,742
Capital Expenditures:
Regulated		$	71,493			$	50,078			$	47,189
Non – Regulated			601				223				186
Total Capital Expenditures		$	72,094			$	50,301			$	47,375
		(Thousands of Dollars)
		As of December 31, 2018				As of December 31, 2017
Assets:
Regulated		$	764,749			$	661,816
Non – Regulated			8,994				7,093
Inter-segment Elimination			(5,913	)			(7,769	)
Consolidated Assets		$	767,830			$	661,140

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- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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