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Business Segment Data
 12 Months Ended
Dec. 31, 2021
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 and Delaware. 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 and Delaware 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:

2021

2020

2019

Revenues:

Regulated

$

131,531

$

129,851

$

123,078

Non – Regulated

12,818

12,545

12,177

Inter-segment Elimination

(1,208

)

(804

)

(657

)

Consolidated Revenues

$

143,141

$

141,592

$

134,598

 

Operating Income:

Regulated

$

29,577

$

34,043

$

31,805

Non – Regulated

3,634

3,377

3,715

Consolidated Operating Income

$

33,211

$

37,420

$

35,520

 

Depreciation:

Regulated

$

20,897

$

18,264

$

16,481

Non – Regulated

212

208

235

Consolidated Depreciation

$

21,109

$

18,472

$

16,716

 

Other Income (Expense), Net:

Regulated

$

6,112

$

4,605

$

3,018

Non – Regulated

279

130

(253

)

Inter-segment Elimination

(433

)

(356

)

(273

)

Consolidated Other Income (Expense), Net

$

5,958

$

4,379

$

2,492

 

Interest Charges:

Regulated

$

8,529

$

7,780

$

7,456

Non – Regulated

17

70

81

Inter-segment Elimination

(432

)

(357

)

(273

)

Consolidated Interest Charges

$

8,114

$

7,493

$

7,264

 

Income Taxes:

Regulated

$

(6,723

)

$

(5,139

)

$

(4,317

)

Non – Regulated

1,235

1,020

1,177

Consolidated Income Taxes

$

(5,488

)

$

(4,119

)

$

(3,140

)

 

Net Income:

Regulated

$

33,849

$

35,951

$

31,602

Non – Regulated

2,694

2,474

2,286

Consolidated Net Income

$

36,543

$

38,425

$

33,888

 

Capital Expenditures:

Regulated

$

79,195

$

105,091

$

88,858

Non – Regulated

183

528

267

Total Capital Expenditures

$

79,378

$

105,619

$

89,125

67

(Thousands of Dollars)

As of

As of

December 31,

2021

December 31,

2020

Assets:

Regulated

$

1,022,116

$

998,932

Non – Regulated

7,811

8,289

Inter-segment Elimination

(9,912

)

(30,751

)

Consolidated Assets

$

1,020,015

$

976,470