← MIDDLESEX WATER CO
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $22.7m |
$22.8m
+0.29%
|
$32.5m
+42.28%
|
$33.9m
+4.42%
|
$38.4m
+13.39%
|
$36.5m
-4.90%
|
$42.4m
+16.11%
|
$31.5m
-25.70%
|
$44.4m
+40.69%
|
$42.8m
-3.45%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | $22.6m |
$22.7m
+0.30%
|
$32.3m
+42.55%
|
$33.8m
+4.48%
|
$38.3m
+13.48%
|
$36.4m
-4.91%
|
$42.3m
+16.16%
|
$31.4m
-25.77%
|
$44.2m
+40.87%
|
$42.7m
-3.37%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | — | — | — | $42.4m | $31.5m | — | — | — | |
| Depreciation, Depletion and Amortization | $13.5m | $14.8m | $15.8m | $17.2m | $20.8m | $26.8m | $27.5m | $29.4m | $28.0m | $32.5m | $32.2m | |
| Depreciation | — | — | $15.0m | $16.7m | $18.5m | $21.1m | $23.0m | $25.2m | $24.4m | $27.1m | $32.2m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $27.5m | $29.4m | $28.0m | $32.5m | $32.2m | |
| Deferred Income Tax Expense (Benefit) | $3.6m | $7.9m | ($8.7m) | ($11.7m) | ($13.5m) | ($11.0m) | ($5.3m) | ($5.6m) | ($1.6m) | ($5.2m) | ($5.7m) | |
| Deferred Other Tax Expense (Benefit) | ($79k) | ($79k) | ($78k) | ($77k) | ($75k) | ($72k) | ($68k) | ($64k) | ($59k) | ($54k) | — | |
| Deferred Tax | — | — | — | — | — | — | ($5.3m) | ($5.6m) | ($1.6m) | ($5.2m) | ($5.7m) | |
| Share-based Payment Arrangement, Noncash Expense | $829k | $840k | $1.1m | $637k | $1.1m | $1.3m | $1.6m | $2.2m | $1.5m | $1.2m | $1.4m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | — | — | — | — | — | $371k | — | |
| Stock Compensation Expense | $829k | $840k | $1.1m | $637k | $1.1m | $1.3m | $1.6m | $2.2m | $1.5m | $1.2m | — | |
| Nonoperating Income (Expense) | ($862k) | $795k | $3.0m | $2.5m | $4.4m | $6.0m | $7.7m | $6.5m | $12.1m | $7.6m | — | |
| Other Nonoperating Income (Expense) | — | — | $1.6m | ($654k) | $363k | $3.3m | $5.4m | $4.1m | $10.8m | $5.9m | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | $1.4m | ($3.0m) | ($12.5m) | ($7.5m) | ($15.9m) | |
| Increase (Decrease) in Accounts Receivable | $69k | $656k | $977k | $146k | $2.7m | $742k | $707k | $2.2m | $670k | $371k | $700k | |
| Accounts Receivable | ($69k) | ($656k) | ($977k) | ($146k) | ($2.7m) | ($742k) | ($707k) | ($2.2m) | ($670k) | ($371k) | $700k | |
| Change In Receivables | — | — | — | — | — | — | ($2.1m) | ($2.8m) | ($2.1m) | $1.0m | $700k | |
| Changes In Account Receivables | — | — | — | — | — | — | ($707k) | ($2.2m) | ($670k) | ($371k) | $700k | |
| Change In Inventory | — | — | — | — | — | — | ($819k) | ($795k) | $253k | ($830k) | ($2.1m) | |
| Increase (Decrease) in Accounts Payable | $5.8m | $1.6m | $5.4m | $4.0m | $7.1m | ($9.3m) | $3.7m | $2.8m | $2.6m | $1.3m | ($6.4m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $7.8m | $1.7m | $3.8m | $5.7m | ($6.4m) | |
| Accrued Taxes | $3.3m | ($967k) | $2.8m | ($6.6m) | $2.5m | ($1.5m) | $3.5m | ($1.6m) | $1.4m | $4.0m | — | |
| Accrued Interest | ($20k) | $9k | $196k | $742k | $106k | ($151k) | $549k | $603k | ($222k) | $395k | — | |
| Unearned Revenue and Advanced Service Fees | — | — | — | — | — | — | $35k | $25k | $86k | ($979k) | — | |
| Change In Accrued Expense | — | — | — | — | — | — | $549k | $603k | ($222k) | $395k | $320k | |
| Increase (Decrease) in Other Operating Assets | — | — | $294k | ($110k) | ($118k) | $208k | — | — | — | — | — | |
| Other Assets and Liabilities | $1.3m | ($169k) | $2.6m | $866k | $3.7m | ($4.3m) | $454k | ($677k) | ($1.2m) | ($6.6m) | — | |
| Net Cash Provided by (Used in) Operating Activities | $47.1m |
$42.8m
-8.98%
|
$45.9m
+7.05%
|
$36.1m
-21.39%
|
$53.4m
+47.99%
|
$33.0m
-38.10%
|
$61.4m
+85.78%
|
$52.8m
-13.98%
|
$58.7m
+11.27%
|
$62.6m
+6.58%
|
$58.6m
-6.32%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | — | — | — | — | — | — | $91.3m | $90.2m | $74.6m | ($96.4m) | ($99.2m) | |
| Utility Plant Expenditures, Including AFUDC-Debt of $641 in 2025, $511 in 2024 and $975 in 2023 | — | — | — | — | — | — | — | ($90.2m) | ($74.6m) | ($96.4m) | — | |
| Capital Expenditure Reported | — | — | — | — | — | — | ($91.3m) | ($90.2m) | ($74.6m) | ($96.4m) | ($99.2m) | |
| Net Cash Provided by (Used in) Investing Activities | ($47.4m) | ($51.3m) | ($72.1m) | ($89.1m) | ($105.6m) | ($79.4m) | ($88.2m) | ($90.2m) | ($74.6m) | ($101.0m) | ($99.3m) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $5.9m | $6.2m | $7.0m | $7.3m | $7.5m | $52.7m | $7.4m | $17.5m | $7.6m | $7.3m | ($14.6m) | |
| Proceeds from Issuance of Long-term Debt | $8.6m | $11.5m | $22.1m | $79.0m | $50.3m | $86.6m | $2.7m | $75.8m | $2.3m | $33.6m | $59.2m | |
| Redemption of Long-term Debt | ($5.9m) | ($6.2m) | ($7.0m) | ($7.3m) | ($7.5m) | ($52.7m) | ($7.4m) | ($17.5m) | ($7.6m) | ($7.3m) | — | |
| Net Short-term Bank Borrowings | $9.0m | $16.0m | $20.5m | ($28.5m) | ($18.0m) | $11.0m | $42.5m | ($12.8m) | ($19.8m) | $5.2m | — | |
| Deferred Debt Issuance Expense | ($152k) | ($230k) | ($880k) | ($769k) | ($148k) | ($994k) | ($624k) | ($131k) | ($54k) | ($142k) | — | |
| Issuance Of Debt | — | — | — | — | — | — | $2.7m | $75.8m | $2.3m | $33.6m | $59.2m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $2.7m | $75.8m | $2.3m | $33.6m | $59.2m | |
| Long Term Debt Payments | — | — | — | — | — | — | ($7.4m) | ($17.5m) | ($7.6m) | ($7.3m) | ($14.6m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $37.7m | $45.6m | ($25.1m) | $31.5m | $23.5m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($4.8m) | $58.3m | ($5.3m) | $26.3m | $44.7m | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | $42.5m | ($12.8m) | ($19.8m) | $5.2m | ($21.2m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($7.4m) | ($17.5m) | ($7.6m) | ($7.3m) | ($14.6m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $619k | $1.5m | — | — | |
| Payments of Ordinary Dividends, Common Stock | $13.1m | $14.0m | $14.9m | $16.2m | $18.2m | $19.4m | $20.8m | $22.4m | $23.4m | $24.9m | ($26.2m) | |
| Proceeds from Issuance of Common Stock | $1.5m | $1.2m | $1.1m | $56.8m | $1.2m | $3.8m | $10.3m | $12.1m | $974k | $30.5m | $40.8m | |
| Common Stock Issuance Expense | — | — | — | ($357k) | ($37k) | — | ($32k) | ($10k) | $0 | ($667k) | $40.8m | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($20.8m) | ($22.4m) | ($23.4m) | ($24.9m) | ($26.1m) | |
| Common Stock Issuance | — | — | — | — | — | — | $10.3m | $12.1m | $974k | $30.5m | $40.8m | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $10.3m | $12.1m | $974k | $30.5m | $40.8m | |
| Payment of Common Dividends | ($13.1m) | ($14.0m) | ($14.9m) | ($16.2m) | ($18.2m) | ($19.4m) | ($20.8m) | ($22.4m) | ($23.4m) | ($24.9m) | — | |
| Payment of Preferred Dividends | ($144k) | ($144k) | ($144k) | ($132k) | ($120k) | ($120k) | ($120k) | ($120k) | ($109k) | ($76k) | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($20.9m) | ($22.6m) | ($23.5m) | ($25.0m) | ($26.2m) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($120k) | ($120k) | ($109k) | ($76k) | ($70k) | |
| Proceeds from (Payments for) Other Financing Activities | $1.0m | $1.3m | $4.7m | $4.3m | $8.6m | $11.2m | $659k | $1.6m | $3.3m | $2.8m | — | |
| Net Other Financing Charges | — | — | — | — | — | — | $3k | $806k | $65.4m | $1.6m | $1.8m | |
| Net Cash Provided by (Used in) Financing Activities | $714k |
$9.5m
+1235.71%
|
$25.5m
+167.32%
|
$93.9m
+268.36%
|
$16.2m
-82.78%
|
$39.5m
+144.16%
|
$27.1m
-31.24%
|
$36.0m
+32.46%
|
$17.7m
-50.70%
|
$38.6m
+117.81%
|
$39.9m
+3.43%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $4.3m | $6.4m | $5.7m | $40.8m | ($36.1m) | $3.5m | $295k | $2.4m | $4.2m | $4.5m | $3.5m | |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD | $4.3m | $6.4m | $5.7m | $46.5m | $10.4m | $3.5m | $3.5m | $2.4m | $4.2m | $4.5m | ||
| Beginning Cash Position | — | — | — | — | — | — | $3.5m | $3.8m | $2.4m | $4.2m | $4.2m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $410k | $2.1m | $5.7m | $46.5m | $10.4m | $3.5m | $295k | $2.4m | $4.2m | $4.5m | $3.5m | |
| NET CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | $410k | $2.1m | ($736k) | $40.8m | ($36.1m) | ($6.9m) | $295k | ($1.4m) | $1.8m | $249k | ||
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $5.4m | $5.6m | $6.1m | $6.9m | $7.6m | $8.5m | $9.3m | $12.8m | $14.5m | $13.5m | — | |
| Income Taxes Paid, Net | $5.7m | $2.8m | $4.7m | $10.3m | $2.5m | $3.3m | $3.2m | $3.0m | $3.2m | $1.6m | — | |
| Additional Financial Items | ||||||||||||
| Income Tax Expense (Benefit) | $11.7m | $11.1m | $924k | ($3.1m) | ($4.1m) | ($5.5m) | $3.2m | $1.0m | $6.9m | $4.8m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $14.0m | $14.3m | — | |
| Operating Costs and Expenses | — | — | — | — | — | — | — | — | $7.5m | — | — | |
| Operating Expenses | $92.3m | $92.2m | $100.9m | $99.1m | $104.2m | $109.9m | $120.3m | $127.1m | $138.7m | $140.3m | — | |
| Public Utilities, Allowance for Funds Used During Construction, Capitalized Cost of Equity | $423k | $481k | $919k | $2.0m | $2.5m | $1.5m | $1.4m | $1.5m | $743k | $977k | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $137.9m | $134.5m | $141.4m | $143.0m | $162.3m | $166.1m | $191.8m | — | — | |
| Equity Portion of Allowance for Funds Used During Construction (AFUDC) | ($423k) | ($481k) | ($919k) | ($2.0m) | ($2.5m) | ($1.5m) | ($1.4m) | ($1.5m) | ($743k) | ($977k) | — | |
| Cash Surrender Value of Life Insurance | ($101k) | ($209k) | $27k | ($252k) | ($391k) | ($136k) | $401k | ($300k) | ($308k) | ($296k) | — | |
| Unbilled Revenues | ($344k) | ($409k) | ($294k) | $110k | $118k | ($208k) | ($1.4m) | ($638k) | ($1.5m) | $1.4m | — | |
| Materials and Supplies | ($1.5m) | ($24k) | ($1.3m) | ($34k) | $333k | ($246k) | ($819k) | ($795k) | $253k | ($830k) | — | |
| Prepayments | $11k | ($384k) | ($236k) | $277k | ($519k) | $6k | $256k | $791k | ($589k) | ($421k) | — | |
| Employee Benefit Plans | ($1.6m) | ($1.9m) | ($2.1m) | ($1.1m) | ($1.4m) | ($2.6m) | ($4.3m) | ($1.3m) | ($3.7m) | ($5.4m) | — | |
| Recovered Costs Litigation Settlement | — | — | — | — | — | — | — | $0 | ($9.0m) | $0 | — | |
| Acquisition of Water Systems | — | — | — | — | — | — | — | $0 | $0 | ($4.6m) | — | |
| Proceeds from Litigation Settlement, net | — | — | — | — | — | — | — | $0 | $63.6m | $0 | — | |
| Payment of Grantee Withholding Taxes in Exchange for Restricted Stock | — | — | — | — | — | — | — | ($619k) | ($1.5m) | ($371k) | — | |
| Construction Advances and Contributions-Net | $1.0m | $1.3m | $4.7m | $4.3m | $8.6m | $11.2m | $659k | $1.6m | $3.3m | $2.8m | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $27.1m | $36.0m | $17.7m | $38.6m | $39.9m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($88.2m) | ($90.2m) | ($74.6m) | ($101.0m) | ($99.3m) | |
| Change In Account Payable | — | — | — | — | — | — | $3.7m | $2.8m | $2.6m | $1.3m | ($6.4m) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $295k | ($1.4m) | $1.8m | $249k | — | |
| Change In Income Tax Payable | — | — | — | — | — | — | $3.5m | ($1.6m) | $1.4m | $4.0m | $3.6m | |
| Change In Interest Payable | — | — | — | — | — | — | $549k | $603k | ($222k) | $395k | $320k | |
| Change In Other Working Capital | — | — | — | — | — | — | ($3.8m) | ($2.0m) | ($13.9m) | ($12.9m) | ($12.3m) | |
| Change In Payable | — | — | — | — | — | — | $7.3m | $1.1m | $4.0m | $5.3m | ($6.4m) | |
| Change In Prepaid Assets | — | — | — | — | — | — | $256k | $791k | ($589k) | ($421k) | $226k | |
| Change In Tax Payable | — | — | — | — | — | — | $3.5m | ($1.6m) | $1.4m | $4.0m | $3.6m | |
| End Cash Position | — | — | — | — | — | — | $3.8m | $2.4m | $4.2m | $4.5m | $3.5m | |
| Financing Cash Flow | — | — | — | — | — | — | $27.1m |
$36.0m
+32.46%
|
$17.7m
-50.70%
|
$38.6m
+117.81%
|
$39.9m
+3.43%
|
|
| Free Cash Flow | — | — | — | — | — | — | ($30.0m) | ($37.4m) | ($15.9m) | ($33.8m) | ($40.5m) | |
| Gain Loss On Sale Of Business | — | — | — | — | — | $0 | ($5.2m) | $0 | $0 | — | $0 | |
| Investing Cash Flow | — | — | — | — | — | — | ($88.2m) | ($90.2m) | ($74.6m) | ($101.0m) | ($99.3m) | |
| Net Business Purchase And Sale | — | — | — | — | — | $0 | $3.1m | $0 | $0 | — | $0 | |
| Other Non Cash Items | — | — | — | — | — | — | ($986k) | ($1.8m) | ($1.1m) | ($1.3m) | — | |
| Stock Based Compensation | — | — | — | — | — | — | $1.6m | $2.2m | $1.5m | $1.2m | $1.4m |