2020 Form 10-K Financial Statement

#000117494721000198 Filed on February 25, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019 Q3
Revenue $141.6M $32.74M $37.77M
YoY Change 5.2% -1.59% -2.44%
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 $20.84M $4.370M $4.246M
YoY Change 20.93% 8.17% 7.49%
% of Gross Profit
Operating Expenses $104.2M $25.18M $25.79M
YoY Change 5.14% -3.6% -0.04%
Operating Profit $37.42M $7.559M $11.98M
YoY Change 5.35% 5.68% -7.24%
Interest Expense $7.493M -$2.280M $1.996M
YoY Change 3.15% 24.59% -216.05%
% of Operating Profit 20.02% -30.16% 16.66%
Other Income/Expense, Net $4.379M $610.0K $867.0K
YoY Change 75.72% -32.97% 4.46%
Pretax Income $34.31M $5.880M $10.85M
YoY Change 11.57% -5.62% -9.78%
Income Tax -$4.119M -$2.190M -$265.0K
% Of Pretax Income -12.01% -37.24% -2.44%
Net Earnings $38.43M $8.071M $11.12M
YoY Change 13.39% 15.42% -9.53%
Net Earnings / Revenue 27.14% 24.65% 29.44%
Basic Earnings Per Share $2.19 $0.46 $0.67
Diluted Earnings Per Share $2.18 $0.46 $0.67
COMMON SHARES
Basic Shares Outstanding 17.46M shares 16.61M shares
Diluted Shares Outstanding 17.57M shares 16.76M shares

Balance Sheet

Concept 2020 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.500M $2.200M $3.200M
YoY Change 104.55% -40.54% -11.11%
Cash & Equivalents $4.500M $2.230M $3.200M
Short-Term Investments
Other Short-Term Assets $10.00M $9.600M $13.00M
YoY Change 4.17% -3.03% 3.17%
Inventory $5.100M $5.400M $5.200M
Prepaid Expenses $2.367M
Receivables $14.60M $11.91M $13.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.10M $29.13M $34.70M
YoY Change 17.18% -5.41% -1.98%
LONG-TERM ASSETS
Property, Plant & Equipment $813.0M $722.0M $694.2M
YoY Change 12.6% 14.88% 14.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $129.3M $1.899M $158.5M
YoY Change -18.53% -98.25% 46.49%
Total Long-Term Assets $942.4M $880.7M $852.7M
YoY Change 6.99% 19.5% 18.86%
TOTAL ASSETS
Total Short-Term Assets $34.10M $29.13M $34.70M
Total Long-Term Assets $942.4M $880.7M $852.7M
Total Assets $976.5M $909.9M $887.4M
YoY Change 7.32% 18.5% 17.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.40M $23.31M $20.20M
YoY Change 30.47% 20.76% 3.59%
Accrued Expenses $2.800M $2.700M $1.500M
YoY Change 3.7% 107.69% 200.0%
Deferred Revenue
YoY Change
Short-Term Debt $2.000M $20.00M $58.50M
YoY Change -90.0% -58.76% 20.62%
Long-Term Debt Due $7.300M $7.178M $7.200M
YoY Change 1.39% -2.25% -1.37%
Total Short-Term Liabilities $56.80M $64.98M $103.5M
YoY Change -12.62% -31.16% 9.64%
LONG-TERM LIABILITIES
Long-Term Debt $273.2M $230.8M $228.3M
YoY Change 18.37% 50.98% 61.8%
Other Long-Term Liabilities $236.8M $2.546M $226.8M
YoY Change 1.28% -98.85% 1.3%
Total Long-Term Liabilities $510.0M $233.3M $455.1M
YoY Change 9.77% 52.65% 24.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.80M $64.98M $103.5M
Total Long-Term Liabilities $510.0M $233.3M $455.1M
Total Liabilities $628.2M $298.3M $609.5M
YoY Change 7.57% -42.26% 20.65%
SHAREHOLDERS EQUITY
Retained Earnings $108.7M
YoY Change 18.85%
Common Stock $215.1M
YoY Change 36.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $348.3M $325.9M $277.9M
YoY Change
Total Liabilities & Shareholders Equity $976.5M $909.9M $887.4M
YoY Change 7.32% 18.5% 17.88%

Cashflow Statement

Concept 2020 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $38.43M $8.071M $11.12M
YoY Change 13.39% 15.42% -9.53%
Depreciation, Depletion And Amortization $20.84M $4.370M $4.246M
YoY Change 20.93% 8.17% 7.49%
Cash From Operating Activities $53.36M $12.70M $11.73M
YoY Change 47.99% -2.31% -14.0%
INVESTING ACTIVITIES
Capital Expenditures -$105.6M -$27.91M $25.52M
YoY Change 18.5% 23.66% -220.73%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$105.6M -$27.91M -$25.52M
YoY Change 18.51% 23.66% 20.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.230M
YoY Change -97.83%
Debt Paid & Issued, Net $7.472M
YoY Change 1.76%
Cash From Financing Activities $16.17M 4.620M 66.71M
YoY Change -82.78% -52.37% 826.53%
NET CHANGE
Cash From Operating Activities $53.36M 12.70M 11.73M
Cash From Investing Activities -$105.6M -27.91M -25.52M
Cash From Financing Activities $16.17M 4.620M 66.71M
Net Change In Cash -$36.10M -10.59M 52.92M
YoY Change -188.39% -8246.15% -17740.0%
FREE CASH FLOW
Cash From Operating Activities $53.36M $12.70M $11.73M
Capital Expenditures -$105.6M -$27.91M $25.52M
Free Cash Flow $159.0M $40.61M -$13.79M
YoY Change 26.99% 14.17% -139.65%

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106000 USD
CY2020 us-gaap Increase Decrease In Pension And Postretirement Obligations
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-105619000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2020 us-gaap Repayments Of Long Term Debt
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7472000 USD
CY2019 us-gaap Repayments Of Long Term Debt
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7343000 USD
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
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50316000 USD
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
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78967000 USD
CY2020 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2020 us-gaap Payments Of Debt Issuance Costs
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148000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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46499000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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5661000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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6397000 USD
CY2019Q4 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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190414000 USD
CY2019Q4 us-gaap Contributions In Aid Of Construction
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97830000 USD
CY2019Q4 us-gaap Liabilities And Stockholders Equity
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CY2018 us-gaap Net Income Loss
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32452000 USD
CY2019 us-gaap Depreciation Depletion And Amortization
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17232000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15780000 USD
CY2019Q4 msex Total Common Equity
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323792000 USD
CY2019Q4 us-gaap Preferred Stock Value
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2084000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
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230777000 USD
CY2019Q4 us-gaap Capitalization Longterm Debt And Equity
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556653000 USD
CY2019Q4 us-gaap Other Long Term Debt Current
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7178000 USD
CY2019Q4 us-gaap Notes Payable Current
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20000000 USD
CY2020Q4 us-gaap Accounts Payable Current
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30443000 USD
CY2019Q4 us-gaap Accounts Payable Current
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23306000 USD
CY2019Q4 us-gaap Accrued Income Taxes Current
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7635000 USD
CY2019Q4 us-gaap Interest Payable Current
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2031000 USD
CY2019Q4 msex Unearned Revenues And Advanced Service Fees
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1211000 USD
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3620000 USD
CY2019Q4 us-gaap Liabilities Current
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64981000 USD
CY2019Q4 msex Construction Advances
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23905000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
5732000 USD
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
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61297000 USD
CY2019Q4 us-gaap Deferred Income Tax Liabilities Net
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54408000 USD
CY2019Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
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34671000 USD
CY2019Q4 us-gaap Regulatory Liability Noncurrent
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69152000 USD
CY2019Q4 us-gaap Other Liabilities Noncurrent
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2546000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
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-8724000 USD
CY2018 us-gaap Public Utilities Allowance For Funds Used During Construction Capitalized Cost Of Equity
PublicUtilitiesAllowanceForFundsUsedDuringConstructionCapitalizedCostOfEquity
919000 USD
CY2018 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
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-27000 USD
CY2018 us-gaap Share Based Compensation
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1084000 USD
CY2018 us-gaap Increase Decrease In Accounts Receivable
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977000 USD
CY2018 us-gaap Increase Decrease In Other Operating Assets
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294000 USD
CY2018 us-gaap Increase Decrease In Raw Materials Packaging Materials And Supplies Inventories
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1293000 USD
CY2018 us-gaap Increase Decrease In Prepaid Expense
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236000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
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5396000 USD
CY2019 us-gaap Increase Decrease In Accrued Taxes Payable
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-6595000 USD
CY2018 us-gaap Increase Decrease In Pension And Postretirement Obligations
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-2114000 USD
CY2020 msex Change In Deferred Revenue
ChangeInDeferredRevenue
44000 USD
CY2019 msex Change In Deferred Revenue
ChangeInDeferredRevenue
175000 USD
CY2018 msex Change In Deferred Revenue
ChangeInDeferredRevenue
85000 USD
CY2020 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3696000 USD
CY2019 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-866000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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53355000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
45864000 USD
CY2018 us-gaap Allowance For Funds Used During Construction Investing Activities
AllowanceForFundsUsedDuringConstructionInvestingActivities
443000 USD
CY2018 us-gaap Payments To Acquire Water And Waste Water Systems
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72094000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-72094000 USD
CY2018 us-gaap Repayments Of Long Term Debt
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7024000 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
22076000 USD
CY2020 msex Proceeds From Premium Issuance Of Longterm Debt
ProceedsFromPremiumIssuanceOfLongtermDebt
USD
CY2019 msex Proceeds From Premium Issuance Of Longterm Debt
ProceedsFromPremiumIssuanceOfLongtermDebt
7083000 USD
CY2018 msex Proceeds From Premium Issuance Of Longterm Debt
ProceedsFromPremiumIssuanceOfLongtermDebt
USD
CY2019 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-28500000 USD
CY2018 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
20500000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
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769000 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
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880000 USD
CY2020 us-gaap Payments Of Stock Issuance Costs
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37000 USD
CY2019 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
357000 USD
CY2018 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1230000 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
56784000 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1150000 USD
CY2020 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
18178000 USD
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
16165000 USD
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
14930000 USD
CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
120000 USD
CY2019 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
132000 USD
CY2018 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
144000 USD
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
8578000 USD
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
4342000 USD
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
4746000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16169000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
93910000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
25494000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-36095000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
40838000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-736000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10404000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46499000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5661000 USD
CY2020 us-gaap Contribution Of Property
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5080000 USD
CY2019 us-gaap Contribution Of Property
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7770000 USD
CY2018 us-gaap Contribution Of Property
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3835000 USD
CY2020 msex Deobligated Principal Payments
DeobligatedPrincipalPayments
258000 USD
CY2019 msex Deobligated Principal Payments
DeobligatedPrincipalPayments
130000 USD
CY2018 msex Deobligated Principal Payments
DeobligatedPrincipalPayments
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CY2020 us-gaap Interest Paid Net
InterestPaidNet
7644000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
6938000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
6113000 USD
CY2020 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1513000 USD
CY2019 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1149000 USD
CY2018 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
443000 USD
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2509000 USD
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10339000 USD
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4689000 USD
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17473000 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
17434000 shares
CY2020Q4 us-gaap Common Stock Value
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217451000 USD
CY2019Q4 us-gaap Common Stock Value
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215125000 USD
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
128757000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
108667000 USD
CY2020Q4 msex Total Common Equity
TotalCommonEquity
346208000 USD
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
120000 shares
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
120000 shares
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
20000 shares
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
20000 shares
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
2084000 USD
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
2084000 USD
CY2020Q4 us-gaap Long Term Debt
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277241000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
234397000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Premium
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7669000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
8064000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4411000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4506000 USD
CY2020Q4 us-gaap Long Term Debt Current
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7255000 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
7178000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
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273244000 USD
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
230777000 USD
CY2017Q4 msex Total Common Equity
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229175000 USD
CY2018 us-gaap Net Income Loss
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32452000 USD
CY2018 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1150000 USD
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
975000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
147000 USD
CY2018 us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
38000 USD
CY2018 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.911
CY2018 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14930000 USD
CY2018 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
144000 USD
CY2018Q4 msex Total Common Equity
TotalCommonEquity
248787000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
33888000 USD
CY2019 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
12738000 USD
CY2019 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
907000 USD
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
196000 USD
CY2019 us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
466000 USD
CY2019 msex Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
8.00
CY2019 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
350000 USD
CY2019 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
44046000 USD
CY2019 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.976
CY2019 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
16165000 USD
CY2019 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
132000 USD
CY2019 us-gaap Stockholders Equity Other
StockholdersEquityOther
357000 USD
CY2019Q4 msex Total Common Equity
TotalCommonEquity
323792000 USD
CY2020 us-gaap Net Income Loss
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38425000 USD
CY2020 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1230000 USD
CY2020 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
851000 USD
CY2020 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
245000 USD
CY2020 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.041
CY2020 us-gaap Dividends Common Stock Cash
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18178000 USD
CY2020 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
120000 USD
CY2020 us-gaap Stockholders Equity Other
StockholdersEquityOther
37000 USD
CY2020Q4 msex Total Common Equity
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346208000 USD
CY2020 us-gaap Nature Of Operations
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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">(a) Organization</span> - 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-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; ">Middlesex Water Company has operated as a water utility in New Jersey since 1897 and in Delaware, through our wholly-owned subsidiary, Tidewater, since 1992. 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. 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>
CY2020 msex Percent Voting Interest
PercentVotingInterest
0.50 pure
CY2020 msex Percent Of Operating Revenues
PercentOfOperatingRevenues
0.91 pure
CY2020 msex Percent Of Total Assets
PercentOfTotalAssets
0.99 pure
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2100000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1400000 USD
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1100000 USD
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1000000.0 USD
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
800000 USD
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
500000 USD
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
600000 USD
CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
700000 USD
CY2020 msex Commercial Operating Revenues
CommercialOperatingRevenues
15448000 USD
CY2020 msex Industrial Operating Revenues
IndustrialOperatingRevenues
9512000 USD
CY2018 msex Residential Commercial Industrial And Fire Protection Revenue
ResidentialCommercialIndustrialAndFireProtectionRevenue
12099000 USD
CY2019 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
14319000 USD
CY2018 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
14655000 USD
CY2018 msex Nonregualted Contract Operations Revenue
NonregualtedContractOperationsRevenue
16374000 USD
CY2020 msex Other Nonregulated Revenues
OtherNonregulatedRevenues
415000 USD
CY2020 msex Inter Segment Elimination Operating Revenues
InterSegmentEliminationOperatingRevenues
-804000 USD
CY2019 msex Inter Segment Elimination Operating Revenues
InterSegmentEliminationOperatingRevenues
-657000 USD
CY2020 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
141592000 USD
CY2019 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
134598000 USD
CY2018 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
138077000 USD
CY2020 us-gaap Use Of Estimates
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<p style="font-family:Times New Roman, Times, serif; font-size:10pt; text-align:justify; margin-top:11pt; margin-bottom:0pt; "> <span style="font-weight:bold; ">(q) Use of Estimates</span> - 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. </p>
CY2020 msex Adoption Of Right Of Use Asset
AdoptionOfRightOfUseAsset
6700000 USD
CY2020 msex Adoption Of Lease Liability
AdoptionOfLeaseLiability
7100000 USD
CY2020Q4 us-gaap Amount Of Embedded Regulatory Asset
AmountOfEmbeddedRegulatoryAsset
400000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1173000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1207000 USD
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
-33000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
188000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
49000 USD
CY2019Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.0335 pure
CY2020Q4 us-gaap Regulatory Assets
RegulatoryAssets
118144000 USD
CY2019Q4 us-gaap Regulatory Assets
RegulatoryAssets
110479000 USD
CY2020Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
31000000.0 USD
CY2019Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
31500000 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
7204000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6457000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
7009000 USD
CY2020 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
-1356000 USD
CY2019 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
-802000 USD
CY2018 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
422000 USD
CY2020 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
-11298000 USD
CY2019 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
-10156000 USD
CY2018 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
-7763000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1364000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4119000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3140000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
924000 USD
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
37420000 USD
CY2019 us-gaap Operating Income Loss
OperatingIncomeLoss
35520000 USD
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
37142000 USD
CY2020 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
18472000 USD
CY2019 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
16716000 USD
CY2018 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
15037000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
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-4281000 USD
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2020 msex Cost Of Treated Water
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CY2019 msex Cost Of Treated Water
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CY2020 us-gaap Cost Of Purchased Water
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CY2018 us-gaap Cost Of Purchased Water
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CY2019Q4 us-gaap Guaranty Liabilities
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CY2020Q4 msex Right Of Use Asset At Lease Inception
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CY2019Q4 msex Right Of Use Asset At Lease Inception
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CY2019Q4 msex Right Of Use Assets Accumulated Amortization
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CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2020Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2020Q4 msex Reduce Line Of Credit
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CY2020Q4 msex Additional Shares Authorized By Sec To Be Issued
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CY2019 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2020 msex Convertible Dollar7 Preferred Series Stock Dividends
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CY2019 msex Convertible Dollar7 Preferred Series Stock Dividends
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CY2018 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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87600000 USD
CY2020 msex Threshold Percentage Of Participants Compensation At Which Matching Decreases
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
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CY2020 us-gaap Number Of Reportable Segments
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CY2020 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years One To Three
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CY2020 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years Four And Five
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0.045 pure
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CY2020 msex Percent Of Participants Contributions Matched By Company Below One Percent Of Participants Compensation
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CY2020 msex Percent Of Participants Contributions Matched By Company Above One Percent Of Participants Compensation
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CY2018 us-gaap Interest Expense
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CY2020 us-gaap Income Tax Expense Benefit
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CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2020Q4 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2020Q4 us-gaap Assets
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CY2020 us-gaap Regulated And Unregulated Operating Revenue
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CY2020Q2 us-gaap Operating Income Loss
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CY2020Q3 us-gaap Operating Income Loss
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CY2020Q4 us-gaap Operating Income Loss
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CY2020 us-gaap Operating Income Loss
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CY2020Q1 us-gaap Net Income Loss
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CY2020Q2 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
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CY2020Q4 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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CY2020Q1 us-gaap Earnings Per Share Basic
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CY2020Q3 us-gaap Earnings Per Share Basic
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CY2020 us-gaap Earnings Per Share Basic
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CY2020Q1 us-gaap Earnings Per Share Diluted
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CY2020Q3 us-gaap Earnings Per Share Diluted
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CY2020Q4 us-gaap Earnings Per Share Diluted
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0.47
CY2020 us-gaap Earnings Per Share Diluted
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2.18
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2019Q2 us-gaap Operating Income Loss
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CY2019Q4 us-gaap Operating Income Loss
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CY2019 us-gaap Operating Income Loss
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CY2019Q1 us-gaap Net Income Loss
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CY2019Q2 us-gaap Net Income Loss
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CY2019Q3 us-gaap Net Income Loss
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CY2019Q4 us-gaap Net Income Loss
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CY2019 us-gaap Net Income Loss
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33888000 USD
CY2019Q1 us-gaap Earnings Per Share Basic
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0.40
CY2019Q2 us-gaap Earnings Per Share Basic
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0.49
CY2019Q3 us-gaap Earnings Per Share Basic
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0.67
CY2019Q4 us-gaap Earnings Per Share Basic
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0.46
CY2019 us-gaap Earnings Per Share Basic
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2.02
CY2019Q1 us-gaap Earnings Per Share Diluted
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CY2019Q2 us-gaap Earnings Per Share Diluted
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0.49
CY2019Q3 us-gaap Earnings Per Share Diluted
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0.67
CY2019Q4 us-gaap Earnings Per Share Diluted
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0.46
CY2019 us-gaap Earnings Per Share Diluted
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2.01
CY2019Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2019Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2019Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2019Q4 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2019Q1 msex High Common Stock Price
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CY2019Q1 msex Low Common Stock Price
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CY2019Q2 msex High Common Stock Price
HighCommonStockPrice
63.68
CY2019Q2 msex Low Common Stock Price
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52.51
CY2019Q3 msex High Common Stock Price
HighCommonStockPrice
66.10
CY2019Q3 msex Low Common Stock Price
LowCommonStockPrice
55.30
CY2019Q4 msex High Common Stock Price
HighCommonStockPrice
67.69
CY2019Q4 msex Low Common Stock Price
LowCommonStockPrice
58.75

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