Business Segment Data

6 Months Ended

Jun. 30, 2022

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.

10

	(In Thousands)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
Operations by Segments:	2022			2021			2022			2021
Revenues:
Regulated	$	37,037		$	33,609		$	70,361		$	63,030
Non – Regulated		2,875			3,405			5,885			6,662
Inter-segment Elimination		(229	)		(313	)		(367	)		(450	)
Consolidated Revenues	$	39,683		$	36,701		$	75,879		$	69,242
Operating Income:
Regulated	$	9,336		$	8,711		$	21,043		$	13,427
Non – Regulated		752			1,103			1,569			2,021
Consolidated Operating Income	$	10,088		$	9,814		$	22,612		$	15,448
Net Income:
Regulated	$	8,314		$	10,108		$	19,814		$	16,347
Non – Regulated		554			815			1,154			1,481
Consolidated Net Income	$	8,868		$	10,923		$	20,968		$	17,828
Capital Expenditures:
Regulated	$	22,549		$	24,391		$	39,134		$	46,354
Non – Regulated		163			76			209			146
Total Capital Expenditures	$	22,712		$	24,467		$	39,343		$	46,500

	As of			As of
	June 30,			December 31,
	2022			2021
Assets:
Regulated	$	1,046,001		$	1,022,116
Non – Regulated		6,595			7,811
Inter-segment Elimination		(14,578	)		(9,912	)
Consolidated Assets	$	1,038,018		$	1,020,015