MIDDLESEX WATER COMPANY MSEX Income Statement

Middlesex water company (MSEX)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Operating Revenues
134,598	138,077	130,775	132,906	126,025	117,139	114,846	110,379	102,069	102,735	91,243
Operating Expenses:
Operations and Maintenance
67,980	71,570	65,490	65,864	65,167	59,129	60,748	60,458	56,634	55,481	52,348
Depreciation
16,716	15,037	13,922	12,796	12,051	11,444	10,988	10,409	9,746	9,244	8,559
Other Taxes
14,382	14,328	13,565	13,944	12,967	12,174	12,140	11,865	11,488	11,413	10,175
Total Operating Expenses
99,078	100,935	92,977	92,604	90,185	82,747	83,876	82,732	77,868	76,138	71,082
Operating Income
35,520	37,142	37,798	40,302	35,840	34,392	30,970	27,647	24,201	26,597	20,161
Other Income (Expense):
Allowance for Funds Used During Construction
3,146	1,362	702	619	380	317	314	484	821	970	1,001
Other Income (Expense), net
-654	1,630	915	-1,151	208	281	183	517	1,523	912	1,011
Other Expense
-	-	-	-	295	1,001	406	144	195	438	286
Total Other Income, net
2,492	2,992	1,617	-532	293	-403	91	857	2,149	1,444	1,726
Interest Charges
7,264	6,758	5,506	5,293	5,554	5,607	5,807	6,725	6,376	6,925	6,750
Income before Income Taxes
30,748	33,376	33,909	34,477	30,579	28,382	25,254	21,779	19,974	21,116	15,137
Income Taxes
-3,140	924	11,100	11,735	10,551	9,937	8,621	7,383	6,527	6,786	5,160
Net Income
33,888	32,452	22,809	22,742	20,028	18,445	16,633	14,396	13,447	14,330	9,977
Preferred Stock Dividend Requirements
132	144	144	144	144	151	190	206	206	207	208
Earnings Applicable to Common Stock
33,756	32,308	22,665	22,598	19,884	18,294	16,443	14,190	13,241	14,123	9,769
Earnings per share of Common Stock:
Basic
2.02	1.97	1.39	1.39	1.23	1.14	1.04	0.90	0.85	0.96	0.73
Diluted
2.01	1.96	1.38	1.38	1.22	1.13	1.03	0.90	0.84	0.96	0.72
Average Number of Common Shares Outstanding:
Basic
16,685	16,384	16,330	16,270	16,175	16,052	15,868	15,733	15,615	14,654	13,453
Diluted
16,829	16,540	16,486	16,426	16,331	16,226	16,110	15,995	15,877	14,916	13,716
Cash Dividends Paid per Common Share
-	-	-	0.80	0.77	0.76	0.75	0.74	0.73	0.72	0.71