XML 27 R15.htm IDEA: XBRL DOCUMENT v3.23.2
Business Segment Data
 6 Months Ended
Jun. 30, 2023
Business Segment Data [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  Six Months Ended
   June 30,  June 30,
Operations by Segments:  2023  2022  2023  2022
Revenues:            
Regulated  $39,909   $37,037   $74,862   $70,361 
Non – Regulated   3,056    2,875    6,398    5,885 
Inter-segment Elimination   (164)   (229)   (303)   (367)
Consolidated Revenues  $42,801   $39,683   $80,957   $75,879 
                     
Operating Income:                    
Regulated  $9,820   $9,336   $16,535   $21,043 
Non – Regulated   849    752    1,622    1,569 
Consolidated Operating Income  $10,669   $10,088   $18,157   $22,612 
                     
Net Income:                    
Regulated  $9,307   $8,314   $14,631   $19,814 
Non – Regulated   594    554    1,136    1,154 
Consolidated Net Income  $9,901   $8,868   $15,767   $20,968 
                     
Capital Expenditures:                    
Regulated  $26,114   $22,549   $50,579   $39,134 
Non – Regulated   6    163    56    209 
Total Capital Expenditures  $26,120   $22,712   $50,635   $39,343 

 

   As of   As of           
  June 30, 2023   December 31, 2022           
Assets:                    
Regulated  $1,126,436   $1,079,180           
Non – Regulated   7,677    6,999           
Inter-segment Elimination   (6,527)   (11,729)          
Consolidated Assets  $1,127,586   $1,074,450