Business Segment Data

12 Months Ended

Dec. 31, 2016

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, 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 the states of New Jersey, Delaware and Pennsylvania 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:	2016			2015			2014
Revenues:
Regulated	$	118,017		$	111,247		$	103,556
Non – Regulated		15,388			15,238			14,143
Inter-segment Elimination		(499	)		(460	)		(560	)
Consolidated Revenues	$	132.906		$	126,025		$	117,139
Operating Income:
Regulated	$	38,201		$	33,603		$	32,000
Non – Regulated		2,431			2,237			2,392
Consolidated Operating Income	$	40,632		$	35,840		$	34,392
Depreciation:
Regulated	$	12,606		$	11,874		$	11,262
Non – Regulated		190			177			182
Consolidated Depreciation	$	12,796		$	12,051		$	11,444
Other Income (Expense), Net:
Regulated	$	779		$	619		$	157
Non – Regulated		(1,308	)		20			(75	)
Inter-segment Elimination		(333	)		(346	)		(485	)
Consolidated Other Income (Expense), Net	$	(862	)	$	293		$	(403	)
Interest Expense:
Regulated	$	5,293		$	5,554		$	5,607
Non – Regulated		89			89			91
Inter-segment Elimination		(89	)		(89	)		(91	)
Consolidated Interest Charges	$	5,293		$	5,554		$	5,607
Income Taxes:
Regulated	$	11,091		$	9,522		$	8,907
Non – Regulated		644			1,029			1,030
Consolidated Income Taxes	$	11,735		$	10,551		$	9,937
Net Income:
Regulated	$	22,353		$	18,889		$	17,249
Non – Regulated		389			1,139			1,196
Consolidated Net Income	$	22,742		$	20,028		$	18,445
Capital Expenditures:
Regulated	$	47,189		$	25,706		$	22,498
Non – Regulated		186			67			98
Total Capital Expenditures	$	47,375		$	25, 773		$	22,596

	(Thousands of Dollars)
	As of December 31, 2016			As of December 31, 2015
Assets:
Regulated	$	619,915		$	581,321
Non – Regulated		6,245			6,436
Inter-segment Elimination		(5,999	)		(6,374	)
Consolidated Assets	$	620,161		$	581,383