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Business Segment Data
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Business Segment Data

Note 5 – 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 New Jersey, Delaware and Pennsylvania with respect to utility services 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.

10

(In Thousands)

Three Months Ended

Six Months Ended

June 30,

June 30,

Operations by Segments:

2020

2019

2020

2019

Revenues:

Regulated

$

32,289

$

30,444

$

61,226

$

58,342

Non – Regulated

3,180

3,087

6,141

6,012

Inter-segment Elimination

(192

)

(138

)

(321

)

(264

)

Consolidated Revenues

$

35,277

$

33,393

$

67,046

$

64,090

 

Operating Income:

Regulated

$

8,639

$

7,903

$

14,480

$

13,936

Non – Regulated

746

1,047

1,432

2,041

Consolidated Operating Income

$

9,385

$

8,950

$

15,912

$

15,977

 

Net Income:

Regulated

$

9,192

$

7,423

$

16,371

$

13,290

Non – Regulated

521

723

1,010

1,406

Consolidated Net Income

$

9,713

$

8,146

$

17,381

$

14,696

 

Capital Expenditures:

Regulated

$

19,913

$

23,268

$

44,882

$

35,561

Non – Regulated

357

106

535

137

Total Capital Expenditures

$

20,270

$

23,374

$

45,417

$

35,698

As of

As of

June 30,

December 31,

2020

2019

Assets:

Regulated

$

953,703

$

910,081

Non – Regulated

10,150

9,686

Inter-segment Elimination

(12,983

)

(9,889

)

Consolidated Assets

$

950,870

$

909,878