MIDDLESEX WATER COMPANY MSEX Income Statement

Middlesex water company (MSEX)

Income statement / TTM

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	Mar'11	Sep'10	Jun'10
Operating Revenues
135,669	134,598	135,128	136,072	137,598	138,077	136,265	133,726	131,821	130,775	131,127	132,747	132,458	132,906	132,023	128,883	127,824	126,025	123,207	121,222	118,746	117,139	116,453	115,069	114,981	114,846	114,504	115,572	113,871	110,379	106,600	102,918	101,619	102,069	108,354	106,221	0	0	0
Operating Expenses:
Operations and Maintenance
69,052	67,980	69,367	69,812	69,856	71,570	69,085	67,354	67,385	65,490	66,826	67,042	65,975	65,864	64,295	64,468	64,908	65,167	63,261	61,445	59,779	59,129	60,006	60,170	60,755	60,748	61,416	61,896	61,513	60,458	58,614	57,681	56,978	56,634	56,796	55,705	0	0	0
Depreciation
17,118	16,716	16,315	15,861	15,474	15,037	14,779	14,574	14,223	13,922	13,516	13,172	12,967	12,796	12,650	12,439	12,241	12,051	11,873	11,721	11,576	11,444	11,314	11,206	11,094	10,988	10,856	10,713	10,570	10,409	10,255	10,047	9,882	9,746	9,637	9,452	0	0	0
Other Taxes
14,480	14,382	14,332	14,350	14,448	14,328	14,148	13,862	13,640	13,565	13,735	13,928	13,941	13,944	13,832	13,426	13,218	12,967	12,635	12,458	12,281	12,174	12,135	12,045	12,060	12,140	12,209	12,367	12,153	11,865	11,622	11,408	11,449	11,488	11,878	11,643	0	0	0
Total Operating Expenses
100,650	99,078	100,014	100,023	99,778	100,935	98,012	95,790	95,248	92,977	94,077	94,142	92,883	92,604	90,777	90,333	90,367	90,185	87,769	85,624	83,636	82,747	83,455	83,421	83,909	83,876	84,481	84,976	84,236	82,732	80,491	79,136	78,309	77,868	78,311	76,800	0	0	0
Operating Income
35,019	35,520	35,114	36,049	37,820	37,142	38,253	37,936	36,573	37,798	37,050	38,605	39,575	40,302	41,246	38,550	37,457	35,840	35,438	35,598	35,110	34,392	32,998	31,648	31,072	30,970	30,023	30,596	29,635	27,647	26,109	23,782	23,310	24,201	30,043	29,421	0	0	0
Other Income (Expense):
Allowance for Funds Used During Construction
3,754	3,146	2,586	2,139	1,710	1,362	1,034	784	750	702	705	738	677	619	469	375	359	380	402	369	332	317	296	320	343	314	332	338	386	484	578	703	763	821	769	882	0	0	0
Other Income (Expense), net
-212	-654	212	625	1,276	1,630	1,508	1,347	1,006	915	-940	-788	-993	-1,151	491	199	217	208	320	217	309	281	210	232	97	183	218	297	422	517	828	1,481	1,558	1,523	1,290	720	0	0	0
Other Expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	560	416	406	11	14	14	144	170	186	286	195	309	256	0	0	0
Total Other Income, net
3,542	2,492	2,798	2,764	2,986	2,992	2,542	2,131	1,756	1,617	-210	-25	-298	-532	724	338	329	293	-188	-324	-406	-403	-53	-8	24	91	539	621	794	857	1,236	1,998	2,035	2,149	1,750	1,280	0	0	0
Interest Charges
7,733	7,264	6,813	6,540	6,820	6,758	6,470	6,240	5,641	5,506	5,417	5,351	5,318	5,293	5,336	5,414	5,474	5,554	5,532	5,543	5,562	5,607	5,707	5,732	5,755	5,807	6,018	6,285	6,526	6,725	6,686	6,581	6,516	6,376	6,450	6,629	0	0	0
Income before Income Taxes
30,828	30,748	31,099	32,273	33,986	33,376	34,325	33,827	32,688	33,909	31,423	33,229	33,959	34,477	36,634	33,474	32,312	30,579	29,718	29,731	29,142	28,382	27,238	25,908	25,341	25,254	24,544	24,932	23,903	21,779	20,659	19,199	18,829	19,974	25,343	24,072	0	0	0
Income Taxes
-4,176	-3,140	-1,711	-1,708	-524	924	3,521	7,671	9,826	11,100	10,739	11,374	11,566	11,735	12,552	11,462	11,130	10,551	10,460	10,458	10,230	9,937	9,415	9,036	8,716	8,621	8,353	8,410	8,137	7,383	6,940	6,475	6,205	6,527	8,209	7,657	0	0	0
Net Income
35,004	33,888	32,810	33,981	34,510	32,452	30,804	26,156	22,862	22,809	20,684	21,855	22,393	22,742	24,082	22,012	21,182	20,028	19,258	19,273	18,912	18,445	17,823	16,872	16,625	16,633	16,191	16,522	15,766	14,396	13,719	12,724	12,624	13,447	17,134	16,415	0	0	0
Preferred Stock Dividend Requirements
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	207	207	0	0	0
Earnings Applicable to Common Stock
34,878	33,756	32,672	33,837	34,366	32,308	30,660	26,012	22,718	22,665	20,540	21,711	22,249	22,598	23,938	21,868	21,038	19,884	19,114	19,129	18,768	18,294	17,665	16,706	16,444	16,443	15,993	16,316	15,560	14,190	13,513	12,518	12,418	13,241	16,927	16,208	0	0	0
Earnings per share of Common Stock:
Basic
0.44	0.46	0.67	0.49	0.40	0.42	0.75	0.53	0.27	0.32	0.47	0.33	0.27	0.20	0.54	0.36	0.29	0.29	0.41	0.31	0.22	0.23	0.42	0.29	0.20	0.20	0.36	0.28	0.20	0.17	0.39	0.23	0.11	0.12	0.33	0.23	0.17	0.37	0.31
Diluted
0.44	0.47	0.66	0.49	0.39	0.43	0.74	0.52	0.27	0.32	0.46	0.33	0.27	0.19	0.54	0.36	0.29	0.28	0.41	0.31	0.22	0.22	0.42	0.29	0.20	0.19	0.36	0.28	0.20	0.18	0.38	0.23	0.11	0.12	0.32	0.23	0.17	0.36	0.31
Average Number of Common Shares Outstanding:
Basic
17,437	17,183	16,610	16,519	16,428	16,400	16,394	16,388	16,354	16,349	16,340	16,332	16,299	32,508	16,284	16,271	16	32,332	16,202	16,149	16	16,119	16,097	16,018	15,974	15,955	15,882	15,829	15,806	15,783	15,741	15,716	15,692	31,224	15,622	15,598	15	15,518	13
Diluted
17,552	17,300	16,757	16,675	16,584	16,556	16,550	16,544	16,510	16,505	16,496	16,488	16,455	32,820	16,440	16,427	16	32,644	16,358	16,305	16	16,274	16,253	16,199	16,178	16,162	16,117	16,092	16,069	16,042	16,004	15,979	15,955	31,746	15,885	15,861	15	15,781	14
Cash Dividends Paid per Common Share
-	-	-	0.24	-	-	-	0.22	0.22	-	0.21	0.21	0.21	0.21	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.19	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18