MIDDLESEX WATER CO

For the period ended Mar 31, 2025. Filed May 1, 2025.

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.

Mar 31, 2025 · Filed May 1, 2025

MSEX$58.77-1.2%Stored close · as of Nov 10, 2026

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Contents

Item 1. Condensed Consolidated Balance Sheets

March 31, · December 31,
ASSETS · 2025 · 2024
UTILITY PLANT:	Water Production		$320,230		$314,924
	Transmission and Distribution		872,447		855,497
	General		106,395		105,167
	Construction Work in Progress		32,196		34,209
	TOTAL		1,331,268		1,309,797
	Less Accumulated Depreciation		259,278		254,425
	UTILITY PLANT - NET		1,071,990		1,055,372
CURRENT ASSETS:	Cash and Cash Equivalents		2,657		4,226
	Accounts Receivable, net of allowance for credit losses of $2,163 and $2,695 in 2025 and 2024, respectively		20,121		18,842
	Unbilled Revenues		10,284		10,764
	Materials and Supplies (at average cost)		7,031		6,719
	Prepayments		6,405		2,422
	TOTAL CURRENT ASSETS		46,498		42,973
OTHER ASSETS:	Operating Lease Right of Use Asset		2,417		2,567
	Regulatory Assets		102,688		101,783
	Non-utility Assets - Net		11,872		11,760
	Employee Benefit Plans		38,039		36,856
	Other		5,457		3,863
	TOTAL OTHER ASSETS		160,473		156,829
	TOTAL ASSETS		$1,278,961		$1,255,174
CAPITALIZATION AND LIABILITIES
CAPITALIZATION:	Common Stock, No Par Value, authorized 40,000, issued 17,894 and 17,887 in 2025 and 2024, respectively		$248,611		$248,202
	Retained Earnings		200,437		197,061
	TOTAL COMMON EQUITY		449,048		445,263
	Preferred Stock, No Par Valaue; authorized 120; issued 16		1,614		1,635
	Long-term Debt		351,258		352,822
	TOTAL CAPITALIZATION		801,920		799,720
CURRENT	Current Portion of Long-term Debt		7,720		7,711
LIABILITIES:	Notes Payable		34,000		23,000
	Accounts Payable		31,500		28,050
	Accrued Taxes		17,444		11,976
	Accrued Interest		2,455		2,916
	Unearned Revenues and Advanced Service Fees		1,535		1,476
	Other		6,566		7,759
	TOTAL CURRENT LIABILITIES		101,220		82,888
COMMITMENTS AND CONTINGENT LIABILITIES (Note 7)
OTHER LIABILITIES:	Advances for Construction		22,679		22,629
	Lease Obligations		2,270		2,432
	Accumulated Deferred Income Taxes		103,632		101,235
	Regulatory Liabilities		63,884		64,557
	Other		308		344
	TOTAL OTHER LIABILITIES		192,773		191,197
CONTRIBUTIONS IN AID OF CONSTRUCTION		183,048		181,369
	TOTAL CAPITALIZATION AND LIABILITIES		$1,278,961		$1,255,174

ContentsView on SEC.gov

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