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Business Segment Data
 3 Months Ended
Mar. 31, 2024
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
   March 31,
Operations by Segments:  2024  2023
Revenues:      
Regulated  $37,465   $34,953 
Non – Regulated   3,204    3,342 
Inter-segment Elimination   (145)   (139)
Consolidated Revenues  $40,524   $38,156 
           
Operating Income:          
Regulated  $8,999   $6,715 
Non – Regulated   866    775 
Consolidated Operating Income  $9,865   $7,490 
           
Net Income:          
Regulated  $10,049   $5,324 
Non – Regulated   633    544 
Consolidated Net Income  $10,682   $5,868 
           
Capital Expenditures:          
Regulated  $14,376   $24,465 
Non – Regulated   13    50 
Total Capital Expenditures  $14,389   $24,515 
           

 

   As of  As of
    March 31, 2024  December 31, 2023
Assets:          
Regulated  $1,247,041   $1,235,549 
Non – Regulated   8,264    8,068 
Inter-segment Elimination   (5,200)   (7,565)
Consolidated Assets  $1,250,105   $1,236,052