MIDDLESEX WATER CO
For the period ended Jun 30, 2025. Filed Jul 31, 2025.
View on SEC.govAbout 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.
Jun 30, 2025 · Filed Jul 31, 2025
MSEX$58.77-1.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net Income | $20,258 | $21,228 |
| Adjustments to Reconcile Net Income to | ||
| Net Cash Provided by Operating Activities: | ||
| Depreciation and Amortization | 15,457 | 13,008 |
| Provision for Deferred Income Taxes and Investment Tax Credits | (3,084) | 1,722 |
| Equity Portion of Allowance for Funds Used During Construction (AFUDC) | (468) | (253) |
| Cash Surrender Value of Life Insurance | (149) | (199) |
| Stock Compensation Expense | 958 | 1,072 |
| Changes in Assets and Liabilities: | ||
| Accounts Receivable | (2,046) | (2,001) |
| Unbilled Revenues | (2,337) | (3,233) |
| Materials & Supplies | (204) | 495 |
| Prepayments | (3,616) | (2,092) |
| Accounts Payable | 8,326 | (2,396) |
| Accrued Taxes | 3,395 | 3,706 |
| Accrued Interest | 154 | 114 |
| Employee Benefit Plans | (2,699) | (4,457) |
| Unearned Revenue & Advanced Service Fees | 365 | 299 |
| Recovered Costs-Environmental Litigation Settlement | — | (8,003) |
| Other Assets and Liabilities | (2,224) | (1,131) |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 32,086 | 17,879 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Utility Plant Expenditures, Including AFUDC-Debt of $318 in 2025 and $180 in 2024 | (50,635) | (28,737) |
| Acquisition of Water Systems | (4,607) | — |
| NET CASH USED IN INVESTING ACTIVITIES | (55,242) | (28,737) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Redemption of Long-term Debt | (2,707) | (2,493) |
| Proceeds from Issuance of Long-term Debt | 886 | 561 |
| Net Short-term Bank Borrowings | 32,200 | 29,500 |
| Deferred Debt Issuance Expense | — | (41) |
| Payment of Grantee Withholding Taxes in Exchange for Restricted Stock | (379) | (1,328) |
| Proceeds from Issuance of Common Stock | 4,054 | 505 |
| Common Stock Issuance Expense | (431) | — |
| Payment of Common Dividends | (12,182) | (11,531) |
| Payment of Preferred Dividends | (41) | (60) |
| Construction Advances and Contributions-Net | 1,765 | 1,380 |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 23,165 | 16,493 |
| NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 9 | 5,635 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | 4,226 | 2,390 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD | $4,235 | $8,025 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY: | ||
| Utility Plant received as Construction Advances and Contributions | $4,865 | $4,461 |
| Accrued Payables for Utility Plant | $2,918 | $4,520 |
| Conversion of Preferred Stock into Common Stock | $283 | $— |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: | ||
| Cash Paid During the Period for: | ||
| Interest | $6,363 | $7,417 |
| Interest Capitalized | $318 | $180 |
| Income Taxes | $610 | $752 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.