2014 Form 10-K Financial Statement

#000117494715000337 Filed on March 05, 2015

View on sec.gov

Income Statement

Concept 2014 2013 Q4 2013 Q3
Revenue $117.1M $27.42M $31.29M
YoY Change 2.0% 1.26% -3.29%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.19M $3.030M $3.120M
YoY Change 2.81% 5.21% 9.09%
% of Gross Profit
Operating Expenses $82.75M $20.76M $21.02M
YoY Change -1.35% -2.81% -2.3%
Operating Profit $34.39M $6.664M $10.27M
YoY Change 11.05%
Interest Expense $5.607M -$1.570M $1.541M
YoY Change -3.44% -11.8% -185.14%
% of Operating Profit 16.3% -23.56% 15.0%
Other Income/Expense, Net -$403.0K -$250.0K $130.0K
YoY Change -542.86% -219.05% -38.1%
Pretax Income $28.38M $4.850M $8.859M
YoY Change 12.39% 17.15% -4.23%
Income Tax $9.937M $1.680M $3.052M
% Of Pretax Income 35.01% 34.64% 34.45%
Net Earnings $18.45M $3.168M $5.807M
YoY Change 10.89% 16.04% -5.42%
Net Earnings / Revenue 15.75% 11.55% 18.56%
Basic Earnings Per Share $1.14 $0.20 $0.36
Diluted Earnings Per Share $1.13 $0.19 $0.36
COMMON SHARES
Basic Shares Outstanding 16.05M shares 15.88M shares
Diluted Shares Outstanding 16.23M shares 16.12M shares

Balance Sheet

Concept 2014 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.700M $4.800M $2.900M
YoY Change -43.75% 60.0% 61.11%
Cash & Equivalents $2.700M $4.834M $2.937M
Short-Term Investments
Other Short-Term Assets $7.900M $7.400M $9.700M
YoY Change 6.76% -5.13% 5.43%
Inventory $2.300M $2.000M $2.000M
Prepaid Expenses $1.728M
Receivables $10.00M $11.64M $12.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.90M $25.84M $27.30M
YoY Change -11.24% 5.03% 6.64%
LONG-TERM ASSETS
Property, Plant & Equipment $474.6M $456.0M $454.1M
YoY Change 4.08% 2.61% 2.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $75.00M $727.0K $71.70M
YoY Change 63.76% -99.22% -9.81%
Total Long-Term Assets $552.9M $58.02M $525.8M
YoY Change 9.59% -89.2% 0.63%
TOTAL ASSETS
Total Short-Term Assets $22.90M $25.84M $27.30M
Total Long-Term Assets $552.9M $58.02M $525.8M
Total Assets $575.8M $530.3M $553.1M
YoY Change 8.58% -5.58% 0.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.400M $6.328M $4.400M
YoY Change 1.59% 66.53% 4.76%
Accrued Expenses $1.100M $1.200M $400.0K
YoY Change -8.33% 20.0% -69.23%
Deferred Revenue
YoY Change
Short-Term Debt $19.00M $28.50M $30.50M
YoY Change -33.33% 1.79% 9.71%
Long-Term Debt Due $5.900M $5.386M $5.400M
YoY Change 9.26% -51.48% 5.88%
Total Short-Term Liabilities $43.90M $52.68M $52.30M
YoY Change -16.7% -5.76% 4.81%
LONG-TERM LIABILITIES
Long-Term Debt $136.0M $129.8M $130.6M
YoY Change 4.78% -1.29% -1.36%
Other Long-Term Liabilities $147.9M $1.348M $135.9M
YoY Change 27.39% -99.08% -2.86%
Total Long-Term Liabilities $283.9M $94.26M $266.5M
YoY Change 15.45% -66.09% -2.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $43.90M $52.68M $52.30M
Total Long-Term Liabilities $283.9M $94.26M $266.5M
Total Liabilities $376.0M $146.9M $362.1M
YoY Change 11.01% -60.99% -0.33%
SHAREHOLDERS EQUITY
Retained Earnings $42.56M
YoY Change
Common Stock $146.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $199.7M $321.4M $191.0M
YoY Change
Total Liabilities & Shareholders Equity $575.8M $530.3M $553.1M
YoY Change 8.58% -5.58% 0.91%

Cashflow Statement

Concept 2014 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $18.45M $3.168M $5.807M
YoY Change 10.89% 16.04% -5.42%
Depreciation, Depletion And Amortization $12.19M $3.030M $3.120M
YoY Change 2.81% 5.21% 9.09%
Cash From Operating Activities $32.57M $12.64M $4.970M
YoY Change -3.67% 50.66% -7.45%
INVESTING ACTIVITIES
Capital Expenditures -$22.60M -$5.490M -$4.370M
YoY Change 12.55% 48.78% -17.86%
Acquisitions
YoY Change
Other Investing Activities $760.0K $240.0K $2.070M
YoY Change -157.14% -77.14% 60.47%
Cash From Investing Activities -$21.84M -$5.260M -$2.290M
YoY Change 2.01% 100.0% -43.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.493M
YoY Change 9.14%
Debt Paid & Issued, Net $5.481M
YoY Change -51.19%
Cash From Financing Activities -12.89M -5.480M -2.730M
YoY Change 21.83% 20.97% 20.26%
NET CHANGE
Cash From Operating Activities 32.57M 12.64M 4.970M
Cash From Investing Activities -21.84M -5.260M -2.290M
Cash From Financing Activities -12.89M -5.480M -2.730M
Net Change In Cash -2.160M 1.900M -50.00K
YoY Change -218.68% 54.47% -94.62%
FREE CASH FLOW
Cash From Operating Activities $32.57M $12.64M $4.970M
Capital Expenditures -$22.60M -$5.490M -$4.370M
Free Cash Flow $55.17M $18.13M $9.340M
YoY Change 2.38% 50.08% -12.63%

Facts In Submission

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CY2012 us-gaap Proceeds From Repayments Of Short Term Debt
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21779000 USD
CY2014 us-gaap Income Tax Expense Benefit
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9937000 USD
CY2012 us-gaap Income Tax Expense Benefit
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CY2013 us-gaap Earnings Per Share Basic
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1.04
CY2012 us-gaap Earnings Per Share Basic
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CY2013 us-gaap Earnings Per Share Diluted
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CY2014 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
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CY2013 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
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226000 USD
CY2012 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
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151000 USD
CY2014 us-gaap Share Based Compensation
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539000 USD
CY2013 us-gaap Share Based Compensation
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CY2012 us-gaap Share Based Compensation
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553000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
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CY2014 us-gaap Increase Decrease In Unbilled Receivables
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169000 USD
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641000 USD
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141000 USD
CY2014 msex Premium On Longterm Debt
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CY2013 msex Premium On Longterm Debt
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CY2012 msex Premium On Longterm Debt
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2236000 USD
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CY2012 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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CY2012 us-gaap Proceeds From Issuance Of Common Stock
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190000 USD
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CY2012 us-gaap Proceeds From Contribution In Aid Of Construction
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CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2014 us-gaap Contribution Of Property
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CY2014Q4 us-gaap Preferred Stock Shares Authorized
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467000 USD
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CY2014 msex Conversion Of Convertible Preferred Stock Value Per Share
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CY2014 us-gaap Dividends Preferred Stock Cash
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151000 USD
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0.5 pure
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CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable
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600000 USD
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CY2012 us-gaap Current State And Local Tax Expense Benefit
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CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2014 us-gaap Use Of Estimates
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><strong><font style="font-size: 10pt;">(p)</font></strong><font style="font-size: 10pt;"> </font><strong><font style="font-size: 10pt;">Use of Estimates</font></strong><font style="font-size: 10pt;"> - Conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts in the financial statements. Actual results could differ from those estimates.</font></div>
CY2014 us-gaap Nature Of Operations
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;"><strong>(a)</strong> <strong>Organization</strong> - Middlesex Water Company (Middlesex) is the parent company and sole shareholder of Tidewater Utilities, Inc. (Tidewater), Tidewater Environmental Services, Inc. (TESI), Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively, Pinelands), Utility Service Affiliates, Inc. (USA), Utility Service Affiliates (Perth Amboy) Inc. (USA-PA) and Twin Lakes Utilities, Inc. (Twin Lakes). Southern Shores Water Company, LLC (Southern Shores) and White Marsh Environmental Systems, Inc. (White Marsh) are wholly-owned subsidiaries of Tidewater.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;">Middlesex Water Company has operated as a water utility in New Jersey since <font>1897</font>, in Delaware, through our wholly-owned subsidiary, Tidewater, since <font>1992</font> and in Pennsylvania, through our wholly-owned subsidiary, Twin Lakes, since <font>2009</font>. We are in the business of collecting, treating, distributing and selling water for domestic, commercial, municipal, industrial and fire protection purposes. We also operate New Jersey municipal water, wastewater and storm water systems under contract and provide unregulated water and wastewater services in New Jersey and Delaware through our subsidiaries. We also have an investment in a joint venture, Ridgewood Green RME, LLC, that owns and operates facilities which optimize the production of electricity at the Village of Ridgewood, New Jersey wastewater treatment plant and other municipal facilities. Our rates charged to customers for water and wastewater services, the quality of services we provide and certain other matters are regulated in New Jersey, Delaware and Pennsylvania by the New Jersey Board of Public Utilities (NJBPU), Delaware Public Service Commission (DEPSC) and Pennsylvania Public Utilities Commission (PAPUC), respectively. Our USA, USA-PA and White Marsh subsidiaries are not regulated utilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;">Certain reclassifications have been made to the prior year financial statements to conform with current period presentation. The reclassifications are immaterial to the overall presentation of our consolidated financial statements.</p> </div>
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600000 USD
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900000 USD
CY2012 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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600000 USD
CY2012 us-gaap Provision For Doubtful Accounts
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700000 USD
CY2013 us-gaap Provision For Doubtful Accounts
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8638000 USD
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-572000 USD
CY2013 us-gaap Income Tax Reconciliation Disposition Of Assets
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-527000 USD
CY2012 us-gaap Income Tax Reconciliation Disposition Of Assets
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-442000 USD
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191000 USD
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
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139000 USD
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
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206000 USD
CY2014 us-gaap Deferred Other Tax Expense Benefit
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-79000 USD
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-79000 USD
CY2012 us-gaap Deferred Other Tax Expense Benefit
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-79000 USD
CY2014Q4 msex Deferred Tax Liabilities Utility Plant Related
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43996000 USD
CY2013Q4 msex Deferred Tax Liabilities Utility Plant Related
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41912000 USD
CY2014Q4 msex Deferred Tax Assets Customer Advances
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3570000 USD
CY2013Q4 msex Deferred Tax Assets Customer Advances
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3598000 USD
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7223000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Other
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1121000 USD
CY2014Q4 msex Deferred Tax Liabilities Investment Tax Credits
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910000 USD
CY2013Q4 msex Deferred Tax Liabilities Investment Tax Credits
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989000 USD
CY2014Q4 us-gaap Deferred Tax Assets Other
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343000 USD
CY2014Q4 us-gaap Income Tax Receivable
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6800000 USD
CY2014 msex Cost Of Treated Water
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2400000 USD
CY2013 msex Cost Of Treated Water
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2400000 USD
CY2012 msex Cost Of Treated Water
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2400000 USD
CY2014 msex Cost Of Untreated Water
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3100000 USD
CY2013 msex Cost Of Untreated Water
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3200000 USD
CY2012 us-gaap Cost Of Purchased Water
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5500000 USD
CY2014 msex Budgeted Construction Cost For Construction Program Year One
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33900000 USD
CY2014 msex Budgeted Construction Cost For Construction Program Year Two
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33100000 USD
CY2012 msex Cost Of Untreated Water
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3100000 USD
CY2014 us-gaap Cost Of Purchased Water
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5500000 USD
CY2013 us-gaap Cost Of Purchased Water
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5600000 USD
CY2014 us-gaap Significant Supply Commitment Description
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USA-PA operates the City of Perth Amboy, NJ's water and wastewater systems under a 20-year agreement, which expires in 2018. In connection with the agreement with Perth Amboy, USA-PA entered into a 20-year subcontract with a wastewater operating company
CY2013Q4 us-gaap Guaranty Liabilities
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400000 USD
CY2014 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
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CY2013 us-gaap Line Of Credit Facility Maximum Monthend Outstanding Amount
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60000000 USD
CY2014 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
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33500000 USD
CY2013 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
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30500000 USD
CY2014 us-gaap Line Of Credit Facility Average Outstanding Amount
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27400000 USD
CY2013 us-gaap Line Of Credit Facility Average Outstanding Amount
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27700000 USD
CY2014Q4 us-gaap Short Term Borrowings
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19000000 USD
CY2013Q4 us-gaap Short Term Borrowings
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28500000 USD
CY2014 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0141 pure
CY2013 us-gaap Line Of Credit Facility Interest Rate During Period
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0.0141 pure
CY2014Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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0.0117 pure
CY2013Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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0.0147 pure
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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5900000 USD
CY2014 msex Convertible Dollar7 Preferred Series Stock Dividends
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74000 USD
CY2014 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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133000 shares
CY2013 msex Convertible Dollar7 Preferred Series Stock Dividends
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97000 USD
CY2013 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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166000 shares
CY2012 msex Convertible Dollar7 Preferred Series Stock Dividends
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97000 USD
CY2012 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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166000 shares
CY2014 msex Convertible Dollar8 Preferred Series Stock Dividends
ConvertibleDollar8PreferredSeriesStockDividends
24000 USD
CY2014 msex Incremental Common Shares Attributable To Conversion Of Dollar8 Preferred Series Stock
IncrementalCommonSharesAttributableToConversionOfDollar8PreferredSeriesStock
41000 shares
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6100000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6200000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
6300000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
6300000 USD
CY2014Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0399 pure
CY2013Q4 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0423 pure
CY2013 msex Convertible Dollar8 Preferred Series Stock Dividends
ConvertibleDollar8PreferredSeriesStockDividends
40000 USD
CY2013 msex Incremental Common Shares Attributable To Conversion Of Dollar8 Preferred Series Stock
IncrementalCommonSharesAttributableToConversionOfDollar8PreferredSeriesStock
76000 shares
CY2012 msex Convertible Dollar8 Preferred Series Stock Dividends
ConvertibleDollar8PreferredSeriesStockDividends
56000 USD
CY2012 msex Incremental Common Shares Attributable To Conversion Of Dollar8 Preferred Series Stock
IncrementalCommonSharesAttributableToConversionOfDollar8PreferredSeriesStock
96000 shares
CY2014 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
18392000 USD
CY2013 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16580000 USD
CY2012 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14343000 USD
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2014Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
50800000 USD
CY2013Q4 us-gaap Other Long Term Debt
OtherLongTermDebt
45000000 USD
CY2014Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
61900000 USD
CY2013Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
47500000 USD
CY2013Q1 msex Decrease In Pension And Other Postretirement Defined Benefit Plans Liabilities
DecreaseInPensionAndOtherPostretirementDefinedBenefitPlansLiabilities
10200000 USD
CY2014 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed For Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedForNextFiscalYear
0.090 pure
CY2014 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years One To Three
IncreaseDecreaseInAnnualRatePerCapitaCostOfCoveredHealthcareBenefitsYearsOneToThree
0.010 pure
CY2014 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years Four And Five
IncreaseDecreaseInAnnualRatePerCapitaCostOfCoveredHealthcareBenefitsYearsFourAndFive
0.005 pure
CY2014 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
DefinedBenefitPlanUltimateHealthCareCostTrendRate
0.05 pure
CY2014 msex Number Of Hours Required To Participate In Contribution Plan
NumberOfHoursRequiredToParticipateInContributionPlan
1000
CY2014 msex Percent Of Participants Contributions Matched By Company Below One Percent Of Participants Compensation
PercentOfParticipantsContributionsMatchedByCompanyBelowOnePercentOfParticipantsCompensation
1.00 pure
CY2014 msex Percent Of Participants Contributions Matched By Company Above One Percent Of Participants Compensation
PercentOfParticipantsContributionsMatchedByCompanyAboveOnePercentOfParticipantsCompensation
0.50 pure
CY2014 msex Threshold Percentage Of Participants Compensation At Which Matching Decreases
ThresholdPercentageOfParticipantsCompensationAtWhichMatchingDecreases
0.01 pure
CY2014 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06 pure
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
8058000 USD
CY2013Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
27421000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5865000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8171000 USD
CY2014 msex Matching Contributions
MatchingContributions
600000 USD
CY2014 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 USD
CY2014 msex Defined Contribution Plan Employer Discretionary Contribution Percent
DefinedContributionPlanEmployerDiscretionaryContributionPercent
0.050 pure
CY2013 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 USD
CY2012 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000 USD
CY2014 msex Escrow Account Maintained For2008 Restricted Stock Plan
EscrowAccountMaintainedFor2008RestrictedStockPlan
100000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
300000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
200000 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
500000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
500000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
300000 USD
CY2012 msex Matching Contributions
MatchingContributions
500000 USD
CY2013 msex Matching Contributions
MatchingContributions
500000 USD
CY2014 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-403000 USD
CY2013 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
91000 USD
CY2012 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
857000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
3169000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
4728000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
6758000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
3790000 USD
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2013Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
27038000 USD
CY2013Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
29102000 USD
CY2013Q3 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
31285000 USD
CY2014 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2014Q1 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
27173000 USD
CY2014Q2 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
29190000 USD
CY2014Q3 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
32669000 USD
CY2014Q4 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
28107000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
5967000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8747000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
11620000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10270000 USD
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
6664000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
3177000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
4481000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
5807000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
3168000 USD
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2014 dei Entity Registrant Name
EntityRegistrantName
MIDDLESEX WATER CO
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0000066004
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2014Q2 dei Entity Public Float
EntityPublicFloat
334100263 USD
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16129050 shares
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY

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