Business Segment Data

12 Months Ended

Dec. 31, 2020

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:	2020			2019			2018
Revenues:
Regulated	$	129,851		$	123,078		$	121,901
Non – Regulated		12,545			12,177			16,778
Inter-segment Elimination		(804	)		(657	)		(602	)
Consolidated Revenues	$	141,592		$	134,598		$	138,077
Operating Income:
Regulated	$	34,043		$	31,805		$	34,127
Non – Regulated		3,377			3,715			3,015
Consolidated Operating Income	$	37,420		$	35,520		$	37,142
Depreciation:
Regulated	$	18,264		$	16,481		$	14,846
Non – Regulated		208			235			191
Consolidated Depreciation	$	18,472		$	16,716		$	15,037
Other Income (Expense), Net:
Regulated	$	4,605		$	3,018		$	3,284
Non – Regulated		130			(253	)		119
Inter-segment Elimination		(356	)		(273	)		(411	)
Consolidated Other Income (Expense), Net	$	4,379		$	2,492		$	2,992
Interest Charges:
Regulated	$	7,780		$	7,456		$	7,060
Non – Regulated		70			81			109
Inter-segment Elimination		(357	)		(273	)		(411	)
Consolidated Interest Charges	$	7,493		$	7,264		$	6,758
Income Taxes:
Regulated	$	(5,139	)	$	(4,317	)	$	(54	)
Non – Regulated		1,020			1,177			978
Consolidated Income Taxes	$	(4,119	)	$	(3,140	)	$	924
Net Income:
Regulated	$	35,951		$	31,602		$	30,405
Non – Regulated		2,474			2,286			2,047
Consolidated Net Income	$	38,425		$	33,888		$	32,452
Capital Expenditures:
Regulated	$	105,091		$	88,858		$	71,493
Non – Regulated		528			267			601
Total Capital Expenditures	$	105,619		$	89,125		$	72,094

66

	(Thousands of Dollars)
	As of			As of
	December 31, 2020			December 31, 2019
Assets:
Regulated	$	998,932		$	910,081
Non – Regulated		8,289			9,686
Inter-segment Elimination		(30,751	)		(9,889	)
Consolidated Assets	$	976,470		$	909,878