MIDDLESEX WATER COMPANY MSEX Balance Sheet

Middlesex water company (MSEX)

Balance Sheet / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
ASSETS
UTILITY PLANT:
Water Production
161,269	160,870	157,970	157,634	156,716	156,423	155,308	154,542	154,095	153,844	149,881	149,068	147,099	146,914	146,095	144,525	143,353	142,794	140,417	140,271	138,527	138,242	136,170	135,633	133,760	132,834	131,854	130,503	130,206	129,840	129,464	129,118	128,324	127,827	125,242	124,054	118,919
Transmission and Distribution
607,682	556,517	536,367	525,843	515,017	512,202	489,512	480,265	471,512	468,649	449,323	443,128	435,007	430,880	411,088	407,387	401,011	398,363	388,433	386,015	380,651	378,154	366,966	364,669	362,193	359,931	352,038	346,973	343,461	343,074	334,921	332,715	329,224	326,629	320,457	317,738	308,468
General
82,844	83,043	80,635	78,442	77,304	74,371	71,224	70,837	69,585	69,457	67,774	67,692	66,451	63,514	62,990	62,137	61,617	61,322	60,461	59,666	58,944	58,851	57,744	57,371	56,890	55,670	55,964	55,433	54,857	54,830	53,999	54,035	48,067	47,519	45,114	44,908	44,368
Construction Work in Progress
48,267	75,520	69,651	56,215	40,346	32,878	37,580	26,517	18,207	11,562	21,752	13,828	14,420	12,196	20,087	14,176	9,528	5,734	12,564	9,527	10,339	8,145	11,142	6,774	6,201	8,410	10,334	12,780	11,682	7,834	12,933	9,940	14,040	12,575	16,843	14,261	11,715
TOTAL
900,062	875,950	844,623	818,134	789,383	775,874	753,624	732,161	713,399	703,512	688,730	673,716	662,977	653,504	640,260	628,225	615,509	608,213	601,875	595,479	588,461	583,392	572,022	564,447	559,044	556,845	550,190	545,689	540,206	535,578	531,317	525,808	519,655	514,550	507,656	500,961	483,470
Less Accumulated Depreciation
173,511	170,220	166,873	163,890	160,777	157,387	154,520	151,681	149,075	146,272	143,269	140,435	138,445	135,728	133,293	131,125	129,041	126,343	124,037	121,935	120,139	117,986	115,492	113,017	111,048	110,366	107,344	104,884	102,561	100,360	98,027	95,832	93,740	92,351	90,427	88,440	84,737
UTILITY PLANT - NET
726,551	705,730	677,750	654,244	628,606	618,487	599,104	580,480	564,324	557,240	545,461	533,281	524,532	517,776	506,967	497,100	486,468	481,870	477,838	473,544	468,322	465,406	456,530	451,430	447,996	446,479	442,846	440,805	437,645	435,218	433,290	429,976	425,915	422,199	417,229	412,521	398,733
CURRENT ASSETS:
Cash and Cash Equivalents
15,419	2,230	3,151	2,990	4,986	3,705	3,579	2,673	1,994	4,937	2,701	3,689	5,592	3,879	1,453	1,229	3,646	3,469	4,651	5,774	5,046	2,673	5,052	5,071	5,902	4,834	2,937	2,992	4,508	3,025	1,798	2,727	854	3,106	4,134	4,283	2,453
Accounts Receivable, net
10,823	11,908	13,407	11,756	9,982	11,762	13,544	11,011	9,970	10,785	11,730	9,953	8,846	10,129	13,273	10,908	9,530	10,060	12,830	10,481	10,643	10,012	11,153	11,044	10,853	11,640	12,706	11,558	11,617	12,447	13,213	10,232	10,628	11,280	13,068	10,663	11,963
Unbilled Revenues
6,702	7,183	9,417	8,245	6,940	7,293	9,097	8,744	6,992	6,999	8,628	8,284	6,378	6,590	8,531	8,154	6,539	6,246	7,991	7,592	6,187	5,937	7,427	7,054	5,306	5,652	6,993	6,731	5,455	5,483	6,902	6,193	4,587	4,842	6,319	6,319	4,752
Materials and Supplies (at average cost)
5,276	5,445	5,159	5,375	5,479	5,411	5,633	4,826	4,155	4,118	4,441	4,881	4,641	4,094	4,399	4,732	2,895	2,600	2,681	2,323	2,216	2,253	2,138	2,358	2,143	1,984	1,988	2,104	1,976	1,403	1,452	2,041	2,003	2,023	2,009	1,949	2,196
Prepayments
1,790	2,367	3,577	3,917	2,263	2,644	3,519	3,805	2,052	2,408	2,588	2,912	1,551	2,024	2,813	3,242	1,992	2,035	2,736	2,880	1,543	1,989	2,981	3,038	1,461	1,728	2,691	2,734	1,741	2,255	2,262	2,242	1,121	1,622	2,123	2,237	1,401
TOTAL CURRENT ASSETS
40,010	29,133	34,711	32,283	29,650	30,815	35,372	31,059	25,163	29,247	30,088	29,719	27,008	26,716	30,469	28,265	24,602	24,410	30,889	29,050	25,635	22,864	28,751	28,565	25,665	25,838	27,315	26,119	25,297	24,613	25,627	23,435	19,193	22,873	27,653	25,451	22,765
DEFERRED CHARGES AND OTHER ASSETS:
Operating Lease Right of Use Asset
5,757	5,944	6,133	6,323	6,517	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unamortized Debt Expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,391	3,376	3,425	3,474	3,451	3,438	3,479	3,526	3,572	3,596	3,615	3,606	2,509	2,550	2,570	2,611	2,650	2,676	2,739
Preliminary Survey and Investigation Charges
2,208	2,054	2,252	2,116	5,359	5,254	5,049	4,859	4,647	4,676	3,832	3,142	2,876	2,365	2,690	2,424	2,278	2,199	2,045	2,102	2,213	2,211	2,781	2,579	4,593	4,728	5,097	5,024	5,009	5,117	5,216	5,157	5,088	5,179	5,453	5,687	7,023
Regulatory Assets
110,678	110,479	100,320	99,130	98,826	99,236	101,133	99,717	99,936	58,423	60,430	60,474	60,704	60,894	57,961	58,126	58,271	58,552	65,811	64,875	65,516	66,216	34,023	34,098	34,197	34,386	58,597	59,455	60,113	72,831	65,438	66,338	66,760	67,302	37,421	37,791	38,771
Operations Contracts, Developer and Other Receivables
-	-	-	-	-	-	439	439	439	-	789	789	789	1,139	2,793	2,868	2,902	2,921	3,241	3,260	3,300	3,313	3,587	3,605	2,844	2,744	598	598	598	1,692	1,847	2,147	4,957	5,300	4,062	4,062	4,589
Restricted Cash
37,882	44,269	53,927	1,170	1,802	1,956	1,956	3,157	778	1,460	439	439	439	439	439	439	439	439	439	455	1,596	2,573	3,438	4,937	1,886	2,473	3,091	5,362	2,634	9,019	4,053	5,838	2,518	3,260	4,552	5,911	7,056
Non-utility Assets - Net
10,393	10,370	10,306	10,322	10,203	9,989	9,651	9,598	9,567	9,478	9,276	9,252	9,253	9,131	9,410	9,389	9,254	9,199	9,236	9,292	9,264	9,197	9,254	9,259	9,482	9,440	11,299	11,076	10,825	9,182	9,638	9,106	8,485	8,182	7,511	7,455	7,122
Federal Income Tax Receivable
-	-	-	-	-	-	-	-	-	-	1,408	1,408	1,408	1,408	1,408	1,408	1,408	1,408	9,756	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,837	1,899	1,954	1,983	2,010	2,093	94	435	148	616	196	226	252	293	311	343	341	385	433	453	483	518	683	703	714	727	731	390	408	448	432	594	647	630	622	579	387
TOTAL DEFERRED CHARGES AND OTHER ASSETS
168,755	175,015	174,892	121,044	124,717	118,528	118,322	118,205	115,515	74,653	76,370	75,730	75,721	75,669	75,012	74,997	74,893	75,103	94,352	83,813	85,797	87,502	57,217	58,619	57,195	58,024	82,985	85,501	83,202	101,895	89,133	91,730	91,025	92,464	62,271	64,161	67,687
TOTAL ASSETS
935,316	909,878	887,353	807,571	782,973	767,830	752,798	729,744	705,002	661,140	651,919	638,730	627,261	620,161	612,448	600,362	585,963	581,383	603,079	586,407	579,754	575,772	542,498	538,614	530,856	530,341	553,146	552,425	546,144	561,726	548,050	545,141	536,133	537,536	507,153	502,133	489,185
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:
Common Stock, No Par Value
215,600	215,125	170,562	165,138	160,142	157,354	156,741	156,251	155,580	155,120	154,626	154,075	153,506	153,045	152,571	152,062	151,337	150,763	150,251	149,739	149,156	148,668	148,186	147,654	146,694	146,185	145,653	144,724	144,056	143,572	143,081	142,592	142,008	141,432	141,018	140,543	139,534
Retained Earnings
111,800	108,667	105,233	98,146	94,000	91,433	88,413	79,826	74,854	74,055	72,403	68,249	66,354	65,392	65,650	60,114	57,459	55,931	54,628	51,062	49,117	48,623	47,977	44,307	42,651	42,560	42,476	39,685	38,222	38,060	38,344	35,168	34,399	35,549	36,450	34,209	33,745
TOTAL COMMON EQUITY
327,400	323,792	275,795	263,284	254,142	248,787	245,154	236,077	230,434	229,175	227,029	222,324	219,860	218,437	218,221	212,176	208,796	206,694	204,879	200,801	198,273	197,291	196,163	191,961	189,345	188,745	188,129	184,409	182,278	181,632	181,425	177,760	176,407	176,981	177,468	174,752	173,279
Preferred Stock
2,084	2,084	2,084	2,433	2,433	2,433	2,433	2,433	2,433	2,433	2,433	2,435	2,436	2,436	2,436	2,436	2,436	2,436	2,436	2,436	2,436	2,436	2,436	2,435	2,859	2,886	2,886	3,353	3,353	3,353	3,353	3,353	3,353	3,353	3,353	3,353	3,362
Long-term Debt
234,789	230,777	228,272	163,574	158,422	152,851	141,083	142,129	140,061	139,045	135,806	136,429	136,156	134,538	130,853	130,955	131,445	132,908	135,240	136,065	137,811	136,039	129,170	132,231	129,034	129,798	130,596	133,504	130,528	131,467	132,410	135,079	131,729	132,167	132,641	134,709	133,844
TOTAL CAPITALIZATION
564,273	556,653	506,151	429,291	414,997	404,071	388,670	380,639	372,928	370,653	365,268	361,188	358,452	355,411	351,510	345,567	342,677	342,038	342,555	339,302	338,520	335,766	327,769	326,627	321,238	321,429	321,611	321,266	316,159	316,452	317,188	316,192	311,489	312,501	313,462	312,814	310,485
CURRENT LIABILITIES:
Current Portion of Long-term Debt
7,171	7,178	7,161	7,353	7,336	7,343	7,327	7,236	6,982	6,865	6,547	6,164	6,148	6,159	6,144	5,869	5,691	5,739	5,725	5,692	6,092	5,910	5,634	5,520	5,377	5,386	5,373	5,285	5,122	11,130	5,064	4,996	4,739	4,569	4,564	4,448	4,432
Notes Payable
33,500	20,000	58,500	59,400	49,500	48,500	48,500	39,000	27,500	28,000	24,500	17,000	14,500	12,000	13,600	10,500	2,000	3,000	18,000	18,000	15,000	19,000	30,500	28,000	27,500	28,450	30,450	27,950	27,450	27,950	27,750	25,250	23,250	24,250	24,250	20,250	17,000
Accounts Payable
24,116	23,306	20,178	18,056	13,976	19,325	19,535	16,413	11,014	13,929	12,113	15,045	8,987	12,343	10,331	9,589	6,500	6,525	8,609	8,925	6,954	6,354	7,193	6,675	5,595	6,328	4,374	5,133	4,526	3,808	4,242	4,797	4,826	5,706	5,789	5,704	6,403
Accrued Taxes
11,165	7,635	12,132	12,390	17,466	14,230	14,818	14,700	14,603	11,418	11,881	13,137	16,110	12,385	10,632	9,439	12,877	9,126	11,337	12,500	12,541	8,948	10,563	9,952	11,253	8,132	9,224	9,796	11,235	9,266	9,240	9,252	10,144	7,847	10,671	9,237	8,752
Accrued Interest
862	2,031	799	1,279	587	1,289	548	1,259	502	1,093	391	1,078	411	1,084	401	1,091	418	1,104	411	1,118	454	1,134	431	1,150	451	1,151	442	1,144	1,269	955	1,321	1,622	906	1,628	895	1,680	1,598
Unearned Revenues and Advanced Service Fees
1,210	1,211	1,048	1,047	1,025	1,036	1,036	974	966	951	962	967	922	923	904	899	890	880	872	861	851	839	852	778	781	837	755	759	752	756	753	743	684	734	751	866	864
Other
2,515	3,620	3,657	3,007	3,356	2,640	2,646	1,993	2,459	2,281	2,618	2,026	2,425	2,162	2,403	1,735	2,159	1,945	1,946	2,318	1,752	1,687	1,518	2,399	1,563	2,394	1,673	1,950	1,416	2,067	1,489	1,875	1,400	1,953	1,412	1,475	1,691
TOTAL CURRENT LIABILITIES
80,539	64,981	103,475	102,532	93,246	94,363	94,410	81,575	64,026	64,537	59,012	55,417	49,503	47,056	44,415	39,122	30,535	28,319	46,900	49,414	43,644	43,872	56,691	54,474	52,520	52,678	52,291	52,017	51,770	55,932	49,859	48,535	45,949	46,687	48,332	43,660	40,740
COMMITMENTS AND CONTINGENT LIABILITIES
-	-	-	-	-	-	0	0	0	-	-	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
DEFERRED CREDITS AND OTHER LIABILITIES:
Customer Advances for Construction
24,146	23,905	22,682	23,389	22,616	22,572	22,080	21,832	21,024	21,423	21,307	20,862	20,868	20,846	20,906	21,051	20,174	20,461	20,921	21,979	21,927	21,978	21,336	21,392	21,880	21,837	21,788	21,944	22,486	21,990	22,042	21,707	21,903	21,944	21,630	21,404	21,261
Lease Obligations
5,558	5,732	5,908	6,084	6,260	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated Deferred Income Taxes
55,580	54,408	50,947	48,617	47,869	47,270	45,790	43,706	44,536	43,160	80,250	76,312	72,989	72,825	73,389	70,927	68,950	67,702	64,103	48,171	47,736	47,306	41,254	40,420	39,754	39,110	42,315	40,920	40,622	41,776	39,974	37,753	37,421	37,022	31,112	30,136	29,691
Accumulated Deferred Investment Tax Credits
-	-	-	-	-	-	-	-	-	-	694	714	734	-	773	792	812	832	851	871	891	910	930	950	969	989	1,009	1,028	1,048	1,068	1,087	1,107	1,127	1,146	1,166	1,186	1,225
Employee Benefit Plans
34,157	34,671	27,826	29,310	29,976	30,661	33,882	35,128	36,041	36,686	33,544	34,651	35,738	36,139	34,227	35,169	36,119	36,515	43,647	44,196	45,590	45,135	18,708	20,185	20,911	21,335	42,000	44,288	43,915	54,768	48,735	51,304	50,372	51,006	26,096	28,665	28,562
Regulatory Liabilities
67,063	69,152	72,000	73,957	76,217	79,112	81,635	83,298	84,712	43,745	11,889	11,711	11,556	11,337	11,241	11,181	11,034	10,876	10,772	10,609	10,475	10,273	10,044	9,828	9,613	9,639	9,449	9,230	9,015	8,811	8,597	8,405	8,217	8,029	7,869	7,692	7,369
Other
2,500	2,546	2,567	2,612	2,530	2,730	1,199	1,250	1,250	1,315	1,348	1,378	1,410	1,443	1,487	2,094	2,006	1,597	1,638	1,659	1,234	1,277	1,322	1,337	1,347	1,348	1,348	991	972	973	977	974	997	995	617	182	154
TOTAL DEFERRED CREDITS AND OTHER LIABILITIES
189,004	190,414	181,930	183,969	185,468	182,345	184,586	185,214	187,563	146,329	149,032	145,628	143,295	142,590	142,023	141,214	139,095	137,983	141,932	127,485	127,853	126,879	93,594	94,112	94,474	94,258	117,909	118,401	118,058	129,386	121,412	121,250	120,037	120,142	88,490	89,265	88,262
CONTRIBUTIONS IN AID OF CONSTRUCTION
101,500	97,830	95,797	91,779	89,262	87,051	85,132	82,316	80,485	79,621	78,607	76,497	76,011	75,104	74,500	74,459	73,656	73,043	71,692	70,206	69,737	69,255	64,444	63,401	62,624	61,976	61,335	60,741	60,157	59,956	59,591	59,164	58,658	58,206	56,869	56,394	49,698
TOTAL CAPITALIZATION AND LIABILITIES
935,316	909,878	887,353	807,571	782,973	767,830	752,798	729,744	705,002	661,140	651,919	638,730	627,261	620,161	612,448	600,362	585,963	581,383	603,079	586,407	579,754	575,772	542,498	538,614	530,856	530,341	553,146	552,425	546,144	561,726	548,050	545,141	536,133	537,536	507,153	502,133	489,185