Middlesex water company (MSEX)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income

35,004

33,888

32,811

33,979

34,510

32,452

30,805

26,156

22,862

22,809

20,683

21,855

22,393

22,742

24,083

22,013

21,182

20,028

19,258

19,272

18,912

18,445

17,822

16,872

16,625

16,633

16,191

16,522

15,766

14,396

13,719

12,724

12,624

13,447

0

0

0

Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization

18,150

17,232

16,895

16,442

16,199

15,780

15,912

15,752

15,206

14,846

14,157

13,619

13,587

13,532

13,149

13,207

13,187

13,087

13,090

12,833

12,437

12,191

12,116

12,191

12,002

11,858

11,716

11,448

11,478

11,232

11,014

10,747

10,468

10,432

0

0

0

Provision for Deferred Income Taxes and Investment Tax Credits

-12,830

-11,719

-11,128

-11,039

-11,160

-8,724

-6,425

789

7,044

7,944

6,565

4,627

3,255

3,553

3,504

17,981

16,487

15,753

18,654

2,888

3,054

3,130

2,486

3,175

2,861

2,915

3,144

4,044

4,156

3,959

4,152

2,666

2,404

2,098

0

0

0

Equity Portion of Allowance for Funds Used During Construction (AFUDC)

2,344

1,997

1,711

1,438

1,151

919

696

532

515

481

485

510

464

423

310

233

218

228

248

236

214

207

190

203

220

201

216

561

415

309

1,170

613

573

523

0

0

0

Cash Surrender Value of Life Insurance

-76

252

41

113

94

-27

167

155

159

209

173

171

153

101

114

24

28

76

78

134

135

108

133

184

188

226

193

173

142

151

182

96

205

92

0

0

0

Stock Compensation Expense

570

637

736

1,252

1,140

1,084

924

938

853

840

853

798

848

829

814

764

658

633

577

577

558

539

566

523

513

493

454

450

456

553

535

532

486

394

0

0

0

Changes in Assets and Liabilities:
Accounts Receivable

841

146

-137

745

12

977

1,814

1,058

1,124

656

-1,543

-955

-684

69

515

480

-1,100

48

1,483

-738

-545

-1,950

-1,753

-714

-764

-1,201

-1,056

477

-2,670

-2,441

-2,070

-2,346

-2,890

28

0

0

0

Unbilled Revenues

-238

-110

320

-499

-52

294

469

460

614

409

97

130

-161

344

540

562

352

309

564

538

881

285

434

323

-149

169

91

538

868

641

583

-126

-361

90

0

0

0

Materials & Supplies

-203

34

-3,060

-2,037

-1,262

-1,293

1,192

-55

-486

24

42

149

1,746

1,494

1,718

2,409

679

347

543

-35

73

269

150

254

167

581

536

63

-27

-620

-557

92

-866

-173

0

0

0

Prepayments

-473

-277

58

112

211

236

931

893

501

384

-225

-330

-441

-11

77

362

449

46

-245

-158

82

261

290

304

-280

-527

429

492

620

633

139

5

-157

221

0

0

0

Accounts Payable

10,140

3,981

643

1,643

2,962

5,396

7,422

1,368

2,027

1,586

1,782

5,456

2,487

5,818

1,722

664

-454

171

1,414

2,250

1,359

26

2,821

1,542

1,069

2,520

132

336

-300

-1,898

-1,547

-907

-344

-697

0

0

0

Accrued Taxes

-6,301

-6,595

-2,686

-2,310

2,863

2,812

2,937

1,563

-1,507

-967

1,249

3,698

3,233

3,259

-705

-3,061

336

178

774

2,548

1,288

816

1,339

156

18

-1,134

-16

544

1,091

1,419

-1,431

15

-1,019

-905

0

0

0

Accrued Interest

275

742

251

20

85

196

157

181

91

9

-10

-13

-7

-20

-10

-27

-36

-30

-20

-32

3

-17

-11

6

-818

196

-879

-478

363

-673

426

-58

68

30

0

0

0

Employee Benefit Plans

-688

-1,112

-1,328

-2,440

-1,500

-2,114

-1,984

-3,758

-2,570

-1,920

-1,794

-1,661

-1,558

-1,601

1,824

-860

-1,110

-129

-3,645

-1,860

-1,748

-3,243

-2,827

-3,139

-1,541

-1,140

-945

-809

76

270

-183

-636

-1,645

-1,591

0

0

0

Unearned Revenue & Advanced Service Fees

185

175

12

73

59

85

74

7

42

28

58

68

34

43

32

38

39

41

20

83

70

2

97

19

29

81

2

16

68

22

2

-123

-210

-130

0

0

0

Other Assets and Liabilities

-2,217

-866

-1,662

-3,099

-2,129

-2,589

-2,504

-1,942

-114

169

-546

-1,725

-1,630

-1,336

855

1,552

227

146

-1,589

-361

-548

138

-114

-626

-535

-832

-165

154

1,290

1,035

1,103

241

335

-539

0

0

0

NET CASH PROVIDED BY OPERATING ACTIVITIES

44,527

36,053

36,349

38,261

44,547

45,864

47,057

41,895

41,735

42,843

45,060

50,497

44,825

47,071

52,720

47,777

52,116

51,212

39,284

38,943

35,641

32,571

35,079

31,417

31,911

33,805

29,555

29,955

32,680

29,572

26,947

26,565

21,925

22,836

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
(Receipt) Release of Restricted Cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,390

-2,256

-3,739

-290

100

282

-489

-812

-323

-897

-412

180

-464

-499

-73

-3,686

-3,796

0

0

0

Investment in Joint Venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,655

0

0

0

-

-

-

-

-

-

-

-

Utility Plant Expenditures, Including AFUDC of $429 in 2020, $168 in 2019

101,948

89,125

83,796

79,415

74,407

72,094

64,649

57,513

50,735

50,301

48,399

48,429

50,280

47,375

40,622

33,238

27,560

25,773

26,110

26,737

23,316

22,596

21,278

18,363

19,739

20,080

18,277

19,226

19,651

21,578

23,801

25,097

25,107

23,562

0

0

0

NET CASH USED IN INVESTING ACTIVITIES

-101,948

-89,125

-83,796

-79,415

-74,407

-72,094

-64,649

-57,513

-50,735

-50,301

-48,399

-48,429

-50,280

-47,375

-40,623

-33,223

-27,147

-24,383

-23,779

-22,906

-22,169

-21,839

-21,228

-17,759

-19,832

-21,412

-18,785

-20,519

-21,781

-22,314

-24,602

-25,824

-21,721

-20,066

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Redemption of Long-term Debt

7,336

7,343

7,326

7,236

7,220

7,024

7,009

6,188

6,174

6,159

6,144

5,877

5,932

5,898

5,843

5,685

6,330

6,284

6,161

6,490

5,598

5,481

5,468

5,232

5,272

11,230

62,974

62,859

62,768

56,725

4,800

4,583

4,443

4,427

0

0

0

Proceeds from Issuance of Long-term Debt

77,466

78,967

95,257

29,726

26,682

22,076

13,820

13,043

11,078

11,523

11,650

11,771

11,323

8,585

5,903

4,861

4,000

7,000

12,848

10,848

15,035

12,246

4,456

4,456

4,245

4,045

59,408

59,408

59,785

60,350

5,629

6,061

4,016

3,447

0

0

0

Net Short-term Bank Borrowings

-16,000

-28,500

10,000

20,400

22,000

20,500

24,000

22,000

13,000

16,000

10,900

6,500

12,500

9,000

-4,400

-7,500

-13,000

-16,000

-12,500

-10,000

-12,500

-9,450

0

0

0

-

-

-

4,200

3,700

3,500

5,000

5,450

7,250

0

0

0

Deferred Debt Issuance Expense

0

-

-

-

-

880

948

272

247

230

138

170

155

152

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

37

0

0

0

Common Stock Issuance Expense

388

357

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted Cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,070

-153

-153

-153

-6,223

0

0

0

-

-

-

-

Repurchase of Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

0

0

0

Proceeds from Issuance of Common Stock

54,538

56,784

12,735

7,635

3,423

1,150

1,190

1,238

1,219

1,234

1,202

1,215

1,321

1,453

1,506

1,558

1,523

1,462

1,488

1,508

1,480

1,493

1,231

1,204

1,346

1,368

1,651

1,682

1,592

1,587

1,529

1,517

1,520

1,504

0

0

0

Payment of Common Dividends

16,690

16,165

15,830

15,511

15,214

14,930

14,651

14,434

14,218

14,002

13,786

13,576

13,354

13,137

12,917

12,795

12,674

12,553

12,432

12,372

12,302

12,231

12,171

12,084

12,014

11,943

11,861

11,800

11,740

11,679

11,619

11,558

11,497

11,437

0

0

0

Payment of Preferred Dividends

126

132

138

144

144

144

144

144

144

144

144

144

144

144

144

144

144

144

144

144

144

151

158

166

181

190

198

206

206

206

206

206

206

206

0

0

0

Construction Advances and Contributions-Net

6,180

4,342

5,086

5,425

5,215

4,746

3,729

2,077

1,227

1,315

1,047

673

1,842

1,007

757

703

-401

-171

411

710

-158

822

395

258

1,198

853

753

959

969

781

1,311

1,512

2,032

1,798

0

0

0

NET CASH PROVIDED BY FINANCING ACTIVITIES

103,934

93,910

98,990

39,484

33,876

25,494

19,987

17,320

5,741

9,537

4,587

392

7,401

714

-15,295

-19,099

-26,369

-26,033

-15,906

-15,334

-14,328

-12,893

-11,736

-11,579

-10,685

-10,584

-9,631

-9,171

-7,245

-7,339

-4,681

-2,297

-3,146

-2,117

0

0

0

NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRCTED CASH

46,513

40,838

51,543

-1,670

4,016

-736

2,395

1,702

-3,259

2,079

1,248

2,460

1,946

410

-3,198

-4,545

-1,400

796

-401

703

-856

-2,161

2,115

2,079

1,394

1,809

1,139

265

3,654

-81

-2,336

-1,556

-2,942

653

0

0

0

SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY:
Utility Plant received as Construction Advances and Contributions

7,587

7,770

6,182

5,596

5,156

3,835

3,568

4,711

3,403

3,778

3,460

1,175

1,207

1,439

2,036

2,622

2,566

2,441

6,423

6,682

7,320

6,598

3,649

4,015

2,823

3,176

1,511

853

1,114

1,015

0

0

0

-

-

0

0

Long-term Debt Deobligation

-

-

-

-

-

-

-

-

-

-

-

-

-

476

476

543

885

466

0

0

0

-

-

-

-

64

319

319

319

255

0

0

0

-

-

-

-

SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash Paid During the Year for:
Interest

7,663

6,938

6,952

6,803

6,577

6,113

5,931

5,733

5,660

5,616

5,547

5,486

5,445

5,430

5,463

5,557

5,629

5,702

5,671

5,658

5,662

5,745

5,839

5,886

6,741

5,743

7,136

6,956

6,282

7,537

0

0

0

-

-

0

0

Interest Capitalized

1,410

1,149

876

701

559

443

338

252

235

221

220

228

213

196

160

142

141

152

153

133

118

110

107

117

123

113

115

323

243

175

0

0

0

-

-

0

0

Income Taxes

9,526

10,339

0

0

0

-

-

-

-

2,754

3,180

3,312

5,728

5,729

4,266

3,621

1,392

1,391

3,264

4,589

5,903

5,903

5,615

6,034

5,879

7,009

6,205

4,765

3,479

2,349

0

0

0

-

-

0

0