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Business Segment Data
 3 Months Ended
Mar. 31, 2023
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 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 New Jersey and Delaware 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.

   (In Thousands)
   Three Months Ended
   March 31,
Operations by Segments:  2023  2022
Revenues:      
Regulated  $34,953   $33,325 
Non – Regulated   3,342    3,009 
Inter-segment Elimination   (139)   (138)
Consolidated Revenues  $38,156   $36,196 
           
Operating Income:          
Regulated  $6,715   $11,705 
Non – Regulated   775    818 
Consolidated Operating Income  $7,490   $12,523 
           
Net Income:          
Regulated  $5,324   $11,513 
Non – Regulated   544    587 
Consolidated Net Income  $5,868   $12,100 
           
Capital Expenditures:          
Regulated  $24,465   $16,585 
Non – Regulated   50    46 
Total Capital Expenditures  $24,515   $16,631 
           

 

   As of  As of
   March 31, 2023  December 31, 2022
Assets:          
Regulated  $1,106,949   $1,079,180 
Non – Regulated   7,490    6,999 
Inter-segment Elimination   (15,524)   (11,729)
Consolidated Assets  $1,098,915   $1,074,450