2023 Q1 Form 10-K Financial Statement

#000117494723000258 Filed on February 24, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q3
Revenue $38.11M $38.82M $47.70M
YoY Change 5.28% 14.1% 19.62%
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 $7.201M $7.340M $5.814M
YoY Change 5.51% -23.11% 33.56%
% of Gross Profit
Operating Expenses $30.67M $30.68M $31.16M
YoY Change 6.09% 10.8% 9.51%
Operating Profit $7.490M $8.147M $16.58M
YoY Change -40.19% 28.52% 45.09%
Interest Expense $2.595M -$2.793M $2.355M
YoY Change 40.27% 26.72% -212.09%
% of Operating Profit 34.65% -34.28% 14.21%
Other Income/Expense, Net $1.711M $1.204M $2.039M
YoY Change -2.56% 20.76% 174.06%
Pretax Income $6.606M $7.319M $16.26M
YoY Change -46.85% 35.34% 56.17%
Income Tax $738.0K $148.0K $1.968M
% Of Pretax Income 11.17% 2.02% 12.1%
Net Earnings $5.868M $7.169M $14.29M
YoY Change -51.5% -0.94% 24.53%
Net Earnings / Revenue 15.4% 18.47% 29.96%
Basic Earnings Per Share $0.33 $0.40 $0.81
Diluted Earnings Per Share $0.33 $0.40 $0.80
COMMON SHARES
Basic Shares Outstanding 17.64M shares 17.64M shares 17.61M shares
Diluted Shares Outstanding 17.77K shares 17.74K shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.862M $3.828M $2.908M
YoY Change 47.6% 8.35% -44.95%
Cash & Equivalents $4.862M $3.828M $2.908M
Short-Term Investments
Other Short-Term Assets $12.57M $11.28M $14.69M
YoY Change 17.27% 11.13% 12.14%
Inventory $6.559M $6.177M $5.792M
Prepaid Expenses $3.914M $2.624M $3.669M
Receivables $15.53M $16.02M $18.08M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $39.52M $37.31M $41.47M
YoY Change 20.25% 8.59% 2.23%
LONG-TERM ASSETS
Property, Plant & Equipment $957.1M $935.6M $914.9M
YoY Change 9.54% 6.16% 5.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.00K $19.00K $105.0K
YoY Change -41.79% -77.11% -99.91%
Total Long-Term Assets $1.059B $1.037B $1.023B
YoY Change 8.46% 5.22% 3.46%
TOTAL ASSETS
Total Short-Term Assets $39.52M $37.31M $41.47M
Total Long-Term Assets $1.059B $1.037B $1.023B
Total Assets $1.099B $1.074B $1.065B
YoY Change 8.85% 5.34% 3.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.62M $24.85M $25.87M
YoY Change 52.96% 17.62% 49.21%
Accrued Expenses $3.098M $3.235M $2.874M
YoY Change 16.47% 16.12% 44.13%
Deferred Revenue
YoY Change
Short-Term Debt $28.50M $55.50M $40.50M
YoY Change 90.0% 326.92% -19.0%
Long-Term Debt Due $17.45M $17.46M $7.567M
YoY Change 160.04% 159.43% 11.18%
Total Short-Term Liabilities $95.98M $117.9M $92.97M
YoY Change 60.85% 108.16% 0.51%
LONG-TERM LIABILITIES
Long-Term Debt $329.6M $290.3M $301.2M
YoY Change 7.54% -5.3% 13.04%
Other Long-Term Liabilities $837.0K $919.0K $1.004M
YoY Change -22.57% -15.38% -99.59%
Total Long-Term Liabilities $330.5M $291.2M $302.2M
YoY Change 7.44% -5.33% 13.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $95.98M $117.9M $92.97M
Total Long-Term Liabilities $330.5M $291.2M $302.2M
Total Liabilities $426.5M $409.1M $395.2M
YoY Change 16.11% 12.31% -40.59%
SHAREHOLDERS EQUITY
Retained Earnings $167.6M $167.3M $165.7M
YoY Change 9.69% 14.72%
Common Stock $235.8M $233.1M $232.4M
YoY Change 4.74% 5.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $403.4M $402.4M $400.2M
YoY Change
Total Liabilities & Shareholders Equity $1.099B $1.074B $1.065B
YoY Change 8.85% 5.34% 3.41%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $5.868M $7.169M $14.29M
YoY Change -51.5% -0.94% 24.53%
Depreciation, Depletion And Amortization $7.201M $7.340M $5.814M
YoY Change 5.51% -23.11% 33.56%
Cash From Operating Activities $15.97M $17.12M $17.38M
YoY Change 14.28% 18.97% 328.18%
INVESTING ACTIVITIES
Capital Expenditures $24.52M $25.40M $26.60M
YoY Change 47.41% -240.05% 80.37%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$24.52M -$25.40M -$26.60M
YoY Change 81.47% 40.05% 80.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.553M
YoY Change 26.47%
Cash From Financing Activities $9.579M 9.196M 7.804M
YoY Change -1458.72% 361.18% -20.21%
NET CHANGE
Cash From Operating Activities $15.97M 17.12M 17.38M
Cash From Investing Activities -$24.52M -25.40M -26.60M
Cash From Financing Activities $9.579M 9.196M 7.804M
Net Change In Cash $1.034M 920.0K -1.412M
YoY Change -532.64% -152.6% 56.02%
FREE CASH FLOW
Cash From Operating Activities $15.97M $17.12M $17.38M
Capital Expenditures $24.52M $25.40M $26.60M
Free Cash Flow -$8.545M -$8.276M -$9.216M
YoY Change 221.72% -125.45% -13.76%

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CY2021 us-gaap Allowance For Funds Used During Construction Investing Activities
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CY2020 us-gaap Allowance For Funds Used During Construction Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q4 us-gaap Common Stock Shares Outstanding
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CY2021Q4 msex Total Common Equity
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CY2021Q4 us-gaap Preferred Stock Shares Outstanding
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CY2021Q4 us-gaap Long Term Debt Noncurrent
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CY2019Q4 msex Total Common Equity
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CY2020 us-gaap Stock Issued During Period Value Other
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CY2020Q4 msex Total Common Equity
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CY2022Q4 msex Total Common Equity
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CY2022 us-gaap Nature Of Operations
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>(a) Organization</b> - Middlesex Water Company (Middlesex or the Company) is the parent company and sole shareholder of Tidewater Utilities, Inc. (Tidewater), 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"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Middlesex 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 and Delaware by the New Jersey Board of Public Utilities (NJBPU) and the Delaware Public Service Commission (DEPSC), 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"> </p>
CY2022 msex Percent Voting Interest
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CY2022 msex Commercial Operating Revenues
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CY2022 msex Nonregualted Contract Operations Revenue
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CY2022 msex Other Nonregulated Revenues
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CY2021 msex Other Nonregulated Revenues
OtherNonregulatedRevenues
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CY2020 msex Other Nonregulated Revenues
OtherNonregulatedRevenues
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CY2022 msex Inter Segment Elimination Operating Revenues
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CY2021 msex Inter Segment Elimination Operating Revenues
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CY2020 msex Inter Segment Elimination Operating Revenues
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CY2022 us-gaap Regulated And Unregulated Operating Revenue
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CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Public Utilities Property Plant And Equipment Disclosure Of Composite Depreciation Rate For Plants In Service
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CY2022 us-gaap Deferred Other Tax Expense Benefit
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CY2022Q1 msex Common Stock Subsidary Percentage
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CY2022Q1 us-gaap Cash
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CY2022 us-gaap Revenues Excluding Interest And Dividends
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CY2022 msex Dsic Rate Description
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Tidewater reset its Distribution System Improvement Charge (DSIC) rate to zero effective April 1, 2021
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Disposition Of Assets
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CY2022 msex Income Tax Reconciliation Tangible Property Repairs
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CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2022 us-gaap Income Tax Expense Benefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2021Q4 us-gaap Deferred Tax Assets Other
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2021Q4 us-gaap Deferred Tax Liabilities
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CY2021 msex Cost Of Untreated Water
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CY2022 msex Cost Of Treated Water
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CY2021 msex Cost Of Treated Water
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CY2020 msex Cost Of Treated Water
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CY2022 us-gaap Cost Of Purchased Water
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CY2021 us-gaap Cost Of Purchased Water
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CY2020 us-gaap Cost Of Purchased Water
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CY2022Q4 msex Estimated Incremental Borrowing Rate
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CY2022 msex Budgeted Construction Cost For Construction Program Year One
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CY2021 us-gaap Line Of Credit Facility Average Outstanding Amount
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CY2021 us-gaap Line Of Credit Facility Interest Rate During Period
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CY2022Q4 us-gaap Short Term Borrowings
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CY2021Q4 us-gaap Short Term Borrowings
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CY2021Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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CY2022Q4 us-gaap Lines Of Credit Current
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CY2022Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
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CY2021Q4 msex Earnings Applicable To Common Stockin Shares
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CY2022Q4 msex Additional Shares Authorized By Sec To Be Issued
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CY2022 msex Percentage Of Principal With Market Interest Rate
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CY2022Q4 us-gaap Loans Payable
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CY2022 msex Participate Rate Program
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CY2021Q4 msex Borrowed Loan
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2022 msex Convertible Preferred Stock
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CY2022 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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42429000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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17597 shares
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36543000 usd
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38425000 usd
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CY2022 msex Preferred Stock Dividends Income Statement Impacts
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CY2021 msex Preferred Stock Dividends Income Statement Impacts
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CY2020 msex Preferred Stock Dividends Income Statement Impacts
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42309000 usd
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q4 msex Earnings Applicable To Common Stockin Shares
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17492 shares
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17459 shares
CY2022 us-gaap Earnings Per Share Basic
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2.4
CY2021 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q1 us-gaap Earnings Per Share Diluted Distributed
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0.68
CY2020Q4 msex Earnings Applicable To Common Stockin Shares
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17459 shares
CY2022 us-gaap Preferred Stock Dividends Per Share Declared
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CY2021 us-gaap Preferred Stock Dividends Per Share Declared
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7
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7
CY2022 msex Convertible Dollar7 Preferred Series Stock Dividends
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67000 usd
CY2022 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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115 shares
CY2021 msex Convertible Dollar7 Preferred Series Stock Dividends
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67000 usd
CY2021 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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115 shares
CY2020 msex Convertible Dollar7 Preferred Series Stock Dividends
ConvertibleDollar7PreferredSeriesStockDividends
67000 usd
CY2020 msex Incremental Common Shares Attributable To Conversion Of Dollar7 Preferred Series Stock
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115 shares
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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42376000 usd
CY2022 msex Adjusted Earnings Applicable To Common Stockin Shares
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17712 shares
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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36490000 usd
CY2021 msex Adjusted Earnings Applicable To Common Stockin Shares
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17607 shares
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
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38372000 usd
CY2020 msex Adjusted Earnings Applicable To Common Stockin Shares
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17574 shares
CY2022 us-gaap Earnings Per Share Diluted
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2.39
CY2021 us-gaap Earnings Per Share Diluted
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2.07
CY2020 us-gaap Earnings Per Share Diluted
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2.18
CY2022 msex Carrying Amount
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CY2022Q4 us-gaap Long Term Debt Fair Value
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CY2021 msex Carrying Amount
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CY2021Q4 us-gaap Long Term Debt Fair Value
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CY2022 msex Carrying Amounts
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159100000 usd
CY2021 msex Carrying Amounts
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CY2022Q4 msex Customer Advances For Construction Work
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CY2021Q4 msex Customer Advances For Construction Work
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CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
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CY2022 msex Schedule Of Pension Plan And Other Benefits Plan
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<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif; margin-left: auto; margin-right: auto;"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="font-weight: bold"> </td> <td colspan="7" style="text-align: center; white-space: nowrap; font-weight: bold">(Thousands of Dollars)</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="border-bottom: Black 1pt solid"> </td> <td colspan="3" style="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 8.1pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 8.1pt; text-align: center"><b>Pension<br/> Plan</b></p></td><td style="font-weight: bold; border-bottom: Black 1pt solid"> </td> <td colspan="3" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Other<br/>  Benefits Plan</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Actuarial Loss (Gain)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">658</td><td style="white-space: nowrap; width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">(191</td><td style="white-space: nowrap; width: 1%; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
CY2022Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
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CY2022Q4 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years One To Three
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CY2022Q4 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years Four And Five
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CY2022 us-gaap Other Postretirement Benefits Payments
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1900000 usd
CY2022 msex Number Of Hours Required To Participate In Contribution Plan
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1000 pure
CY2022 msex Percent Of Participants Contributions Matched By Company Below One Percent Of Participants Compensation
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CY2022 msex Stock Based Compensation Remain Award Rate
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0.01 pure
CY2022 msex Percent Of Participants Contributions Matched By Company Above One Percent Of Participants Compensation
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CY2022 msex Threshold Percentage Of Participants Compensation At Which Matching Decreases
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CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
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0.06 pure
CY2022 msex Matching Contributions
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CY2021 msex Matching Contributions
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700000 usd
CY2020 msex Matching Contributions
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700000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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900000 usd
CY2022 msex Defined Contribution Plan Employer Discretionary Contribution Percent
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0.05 pure
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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700000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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300000 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2022 us-gaap Regulated And Unregulated Operating Revenue
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162434000 usd
CY2021 us-gaap Regulated And Unregulated Operating Revenue
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143141000 usd
CY2020 us-gaap Regulated And Unregulated Operating Revenue
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CY2022 us-gaap Operating Income Loss
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47333000 usd
CY2021 us-gaap Operating Income Loss
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33211000 usd
CY2020 us-gaap Operating Income Loss
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37420000 usd
CY2022 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
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23029000 usd
CY2021 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
21109000 usd
CY2020 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
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18472000 usd
CY2022 us-gaap Other Nonrecurring Income Expense
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7703000 usd
CY2021 us-gaap Other Nonrecurring Income Expense
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5958000 usd
CY2020 us-gaap Other Nonrecurring Income Expense
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CY2022 us-gaap Interest Expense
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CY2021 us-gaap Interest Expense
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CY2020 us-gaap Interest Expense
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3240000 usd
CY2021 us-gaap Income Tax Expense Benefit
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-5488000 usd
CY2020 us-gaap Income Tax Expense Benefit
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CY2022 msex Consolidated Net Income
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42429000 usd
CY2021 msex Consolidated Net Income
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36543000 usd
CY2020 msex Consolidated Net Income
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38425000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
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91335000 usd
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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79378000 usd
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
105619000 usd
CY2022Q4 us-gaap Assets
Assets
1074450000 usd
CY2021Q4 us-gaap Assets
Assets
1020015000 usd
CY2022Q1 msex Operating Revenues
OperatingRevenues
36196000 usd
CY2022Q2 msex Operating Revenues
OperatingRevenues
39683000 usd
CY2022Q3 msex Operating Revenues
OperatingRevenues
47732000 usd
CY2022Q4 msex Operating Revenues
OperatingRevenues
38823000 usd
CY2022 msex Operating Revenues
OperatingRevenues
162434000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Stock In Subsidiary Or Equity Method Investee
GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee
5232000 usd
CY2022 us-gaap Gain Loss On Sale Of Stock In Subsidiary Or Equity Method Investee
GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee
5232000 usd
CY2022Q1 msex Operating Incomein Dollars
OperatingIncomeinDollars
12523000 usd
CY2022Q2 msex Operating Incomein Dollars
OperatingIncomeinDollars
10088000 usd
CY2022Q3 msex Operating Incomein Dollars
OperatingIncomeinDollars
16575000 usd
CY2022Q4 msex Operating Incomein Dollars
OperatingIncomeinDollars
8146000 usd
CY2022 msex Operating Incomein Dollars
OperatingIncomeinDollars
47332000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
12100000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
8868000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
14291000 usd
CY2022Q4 us-gaap Profit Loss
ProfitLoss
7169000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
42428000 usd
CY2022Q1 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.69
CY2022Q2 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.5
CY2022Q3 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.81
CY2022Q2 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.5
CY2022Q3 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.81
CY2022Q4 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.4
CY2022Q4 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.4
CY2022 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
2.4
CY2022 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
2.39
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2022Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2022Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3125
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.1825
CY2021Q1 msex Operating Revenues
OperatingRevenues
32541000 usd
CY2021Q2 msex Operating Revenues
OperatingRevenues
36701000 usd
CY2021Q3 msex Operating Revenues
OperatingRevenues
39874000 usd
CY2021Q4 msex Operating Revenues
OperatingRevenues
34025000 usd
CY2021 msex Operating Revenues
OperatingRevenues
143141000 usd
CY2021Q1 msex Operating Incomein Dollars
OperatingIncomeinDollars
5634000 usd
CY2021Q2 msex Operating Incomein Dollars
OperatingIncomeinDollars
9814000 usd
CY2021Q3 msex Operating Incomein Dollars
OperatingIncomeinDollars
11424000 usd
CY2021Q4 msex Operating Incomein Dollars
OperatingIncomeinDollars
6339000 usd
CY2021 msex Operating Incomein Dollars
OperatingIncomeinDollars
33211000 usd
CY2021Q1 us-gaap Profit Loss
ProfitLoss
6907000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
10923000 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
11476000 usd
CY2021Q4 us-gaap Profit Loss
ProfitLoss
7237000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
36543000 usd
CY2021Q1 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.39
CY2021Q2 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.62
CY2021Q3 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.65
CY2021Q4 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
0.42
CY2021 us-gaap Earnings Per Share Basic Distributed
EarningsPerShareBasicDistributed
2.08
CY2021Q1 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.39
CY2021Q2 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.62
CY2021Q3 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.65
CY2021Q4 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
0.41
CY2021 us-gaap Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
2.07
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.2725
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.2725
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.2725
CY2021Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.1075
CY2022 dei Auditor Firm
AuditorFirmId
23
CY2021Q4 msex Employee Benefit Plans
EmployeeBenefitPlans
usd
CY2022Q4 us-gaap Accrued Employee Benefits Current And Noncurrent
AccruedEmployeeBenefitsCurrentAndNoncurrent
usd
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
usd
CY2021 msex Proceeds From Issuance Of Common Stock Expense
ProceedsFromIssuanceOfCommonStockExpense
usd
CY2022 msex Deobligated Principal Payments
DeobligatedPrincipalPayments
usd
CY2021 msex Non Cash Consideration For Sale Of Subsidiary
NonCashConsiderationForSaleOfSubsidiary
usd
CY2020 msex Non Cash Consideration For Sale Of Subsidiary
NonCashConsiderationForSaleOfSubsidiary
usd
CY2022 dei Amendment Flag
AmendmentFlag
false
CY2022 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2022 dei Entity Central Index Key
EntityCentralIndexKey
0000066004

Files In Submission

Name View Source Status
msex-20221231_lab.xml Edgar Link unprocessable
msex-20221231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
0001174947-23-000258-index-headers.html Edgar Link pending
0001174947-23-000258-index.html Edgar Link pending
0001174947-23-000258.txt Edgar Link pending
0001174947-23-000258-xbrl.zip Edgar Link pending
ex10-27c.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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msex-20221231.htm Edgar Link pending
msex-20221231.xsd Edgar Link pending
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