XML 47 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Schedule I
12 Months Ended
Dec. 31, 2011
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule I
SCHEDULE I - SOUTH JERSEY INDUSTRIES, INC.
STATEMENTS OF INCOME
(In Thousands)

 
 
2011
 
2010
 
2009
 
 
 

 
 

 
 

Operating Revenues
 
$
13,117

 
$
11,306

 
$
10,238

 
 
 
 
 
 
 
Operating Expenses:
 
 
 
 
 
 
   Operations
 
12,390

 
10,091

 
9,005

   Depreciation
 
160

 
143

 
135

   Energy and Other Taxes
 
611

 
269

 
258

      Total Operating Expenses
 
13,161

 
10,503

 
9,398

 
 
 
 
 
 
 
      Operating (Loss) Income
 
(44
)
 
803

 
840

 
 
 
 
 
 
 
Other Income:
 
 
 
 
 
 
   Equity in Earnings of Subsidiaries
 
89,859

 
67,285

 
58,531

   Other
 
2,688

 
333

 
(22
)
 
 
 
 
 
 
 

      Total Other Income
 
92,547

 
67,618

 
58,509

 
 
 
 
 
 
 
   Interest Charges
 
2,648

 
1,093

 
775

   Income Taxes
 
(4
)
 
43

 
42

 
 
 
 
 
 
 
      Income from Continuing Operations
 
89,859

 
67,285

 
58,532

 
 
 
 
 
 
 
   Equity in Undistributed Earnings of Discontinued Subsidiaries
 
(568
)
 
(633
)
 
(427
)
 
 
 
 
 
 
 
      Net Income
 
$
89,291

 
$
66,652

 
$
58,105


See South Jersey Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements under Item 8.
 
SCHEDULE I - SOUTH JERSEY INDUSTRIES, INC.
STATEMENTS OF COMPREHENSIVE INCOME
(In Thousands)
 
 
 
2011
 
2010
 
2009
 
 
 

 
 

 
 

Net Income
 
$
89,291

 
$
66,652

 
$
58,105

Other Comprehensive (Loss) Income  - Net of Tax*
 
 
 
 
 
 
   Postretirement Liability Adjustment
 
(5,667
)
 
(3,302
)
 
1,208

   Unrealized (Loss) Gain on Available-for-Sale Securities
 
(360
)
 
339

 
533

   Unrealized (Loss) Gain on Derivatives
 
(599
)
 
620

 
2,989

Total Other Comprehensive (Loss) Income  - Net of Tax*
 
(6,626
)
 
(2,343
)
 
4,730

 
 
 
 
 
 
 
Comprehensive Income
 
$
82,665

 
$
64,309

 
$
62,835

 
*  Determined using a combined statutory tax rate of 41%

See South Jersey Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements under Item 8.

SCHEDULE I - SOUTH JERSEY INDUSTRIES, INC.
STATEMENTS OF RETAINED EARNINGS
(In Thousands)

 
 
2011
 
2010
 
2009
 
 
 

 
 

 
 

Retained Earnings - Beginning
 
$
297,473

 
$
271,505

 
$
249,973

Net Income
 
89,291

 
66,652

 
58,105

 
 
386,764

 
338,157

 
308,078

 
 
 
 
 
 
 
Dividends Declared - Common Stock
 
(45,087
)
 
(40,684
)
 
(36,573
)
 
 
 
 
 
 
 
Retained Earnings - Ending
 
$
341,677

 
$
297,473

 
$
271,505


See South Jersey Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements under Item 8.
 
SCHEDULE I - SOUTH JERSEY INDUSTRIES, INC.
STATEMENTS OF CASH FLOWS
FOR THE TWELVE MONTHS ENDED DECEMBER 31,
(In Thousands)

 
 
2011
 
2010
 
2009
 
 
 
 
 
 
 
CASH PROVIDED BY OPERATING ACTIVITIES
 
$
14,179

 
$
46,965

 
$
13,650

 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Repayment from (Advances to) Associated Companies
 
22,957

 
(107,799
)
 
39,030

Capital Expenditures
 
(299
)
 
(163
)
 
(53
)
Purchase of Company Owned Life Insurance
 
(4,628
)
 
(4,354
)
 
(4,444
)
 
 
 
 
 
 
 
Net Cash Provided by (Used In) Investing Activities
 
18,030

 
(112,316
)
 
34,533

 
 
 
 
 
 
 

CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 

 
 
 
 
 
 
 

Net Borrowing from (Repayments of)  Lines of Credits
 
3,013

 
104,587

 
(10,800
)
Dividends on Common Stock
 
(44,975
)
 
(40,478
)
 
(36,426
)
Proceeds from Sale of Common Stock
 
13,436

 

 

 
 
 
 
 
 
 
Net Cash (Used in) Provided by Financing Activities
 
(28,526
)
 
64,109

 
(47,226
)
 
 
 
 
 
 
 
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
 
3,683

 
(1,242
)
 
957

 
 
 
 
 
 
 
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
 
377

 
1,619

 
662

 
 
 
 
 
 
 
CASH AND CASH EQUIVALENTS AT END OF YEAR
 
$
4,060

 
$
377

 
$
1,619


Dividends received from subsidiaries amounted to $12.7 million, $45.9 million, and $10.0 million, in 2011 2010, and 2009 respectively.

See South Jersey Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements under Item 8.

SCHEDULE I - SOUTH JERSEY INDUSTRIES, INC.
BALANCE SHEETS
(In Thousands)
 
 
 
 
 
 
 
2011
 
2010
Assets
 
 
 
 
 
 
 
 
 
Property Plant and Equipment:
 
 
 
 
Nonutility Property, Plant and Equipment, at cost
 
$
894

 
$
859

Accumulated Depreciation
 
(508
)
 
(615
)
 
 
 

 
 

Property, Plant and Equipment - Net
 
386

 
244

 
 
 

 
 
Investments:
 
 

 
 
Investments in Subsidiaries
 
680,304

 
609,281

Available-for-Sale Securities
 
22

 
19

 
 
 

 
 

Total Investments
 
680,326

 
609,300

 
 
 

 
 
Current Assets:
 
 

 
 
Cash and Cash Equivalents
 
4,060

 
377

Receivable from Associated Companies
 
115,113

 
138,022

Accounts Receivable
 
30

 
20

Other
 
3,094

 
1,914

 
 
 

 
 

Total Current Assets
 
122,297

 
140,333

 
 
 

 
 

Other Noncurrent Assets
 
24,006

 
17,557

 
 
 

 
 

Total Assets
 
$
827,015

 
$
767,434

 
 
 

 
 

Capitalization and Liabilities
 
 

 
 
 
 
 

 
 
Equity:
 
 

 
 
Common Stock SJI
 
 

 
 
Par Value $1.25 a share
 
 

 
 
Authorized - 60,000,000 shares
 
 

 
 
Outstanding - 30,212,453 (2011) shares and 29,872,825 (2010)
 
$
37,765

 
$
37,341

Premium on Common Stock
 
273,303

 
257,274

Treasury Stock (at par)
 
(193
)
 
(179
)
Accumulated Other Comprehensive Loss
 
(28,438
)
 
(21,812
)
Retained Earnings
 
341,677

 
297,473

 
 
 

 
 

Total Equity
 
624,114

 
570,097

 
 
 

 
 

Current Liabilities:
 
 

 
 

Notes Payable - Banks
 
194,800

 
191,787

Payable to Associated Companies
 
244

 
195

Accounts Payable
 
695

 
243

Other Current Liabilities
 
1,794

 
1,523

 
 
 

 
 

Total Current Liabilities
 
197,533

 
193,748

 
 
 

 
 

Other Noncurrent Liabilities
 
5,368

 
3,589

 
 
 

 
 

Total Capitalization and Liabilities
 
$
827,015

 
$
767,434

 
See South Jersey Industries, Inc. and Subsidiaries Notes to Consolidated Financial Statements under Item 8.