MIDDLESEX WATER CO

For the period ended Sep 30, 2024. Filed Oct 31, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Oct 31, 2024

MSEX$59.50-0.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Balance Sheets

September 30, · December 31,
ASSETS · 2024 · 2023
UTILITY PLANT:	Water Production		$310,661		$303,791
	Transmission and Distribution		837,233		809,862
	General		104,103		100,593
	Construction Work in Progress		34,995		19,636
	TOTAL		1,286,992		1,233,882
	Less Accumulated Depreciation		249,266		235,540
	UTILITY PLANT - NET		1,037,726		998,342
CURRENT ASSETS:	Cash and Cash Equivalents		6,344		2,390
	Accounts Receivable, net of allowance for credit losses of $2,424 and $2,137, respectively in 2024 and 2023		22,703		18,172
	Litigation Settlement Receivable		—		69,872
	Unbilled Revenues		13,418		9,297
	Materials and Supplies (at average cost)		6,550		6,972
	Prepayments		3,131		1,833
	TOTAL CURRENT ASSETS		52,146		108,536
OTHER ASSETS:	Operating Lease Right of Use Asset		2,718		3,185
	Preliminary Survey and Investigation Charges		2,018		1,932
	Regulatory Assets		96,302		90,694
	Non-utility Assets - Net		11,854		11,584
	Employee Benefit Plans		26,851		21,779
	TOTAL OTHER ASSETS		139,743		129,174
	TOTAL ASSETS		$1,229,615		$1,236,052
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:	Common Stock, No Par Value		$247,576		$246,764
	Retained Earnings		194,359		176,227
	TOTAL COMMON EQUITY		441,935		422,991
	Preferred Stock		1,889		2,084
	Long-term Debt		352,282		358,153
	TOTAL CAPITALIZATION		796,106		783,228
CURRENT	Current Portion of Long-term Debt		7,745		7,740
LIABILITIES:	Notes Payable		17,500		42,750
	Accounts Payable		32,355		27,618
	Litigation Settlement Payable		—		6,237
	Accrued Taxes		13,408		10,535
	Accrued Interest		2,396		3,138
	Unearned Revenues and Advanced Service Fees		1,555		1,390
	Other		4,953		4,421
	TOTAL CURRENT LIABILITIES		79,912		103,829
COMMITMENTS AND CONTINGENT LIABILITIES (Note 7)
OTHER LIABILITIES:	Customer Advances for Construction		21,542		21,313
	Lease Obligations		2,589		3,063
	Accumulated Deferred Income Taxes		95,413		88,736
	Regulatory Liabilities		53,920		113,021
	Other		437		592
	TOTAL OTHER LIABILITIES		173,901		226,725
CONTRIBUTIONS IN AID OF CONSTRUCTION		179,696		122,270
	TOTAL CAPITALIZATION AND LIABILITIES		$1,229,615		$1,236,052

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.