2024 Q1 Form 10-K Financial Statement

#000117494724000281 Filed on March 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $40.49M $38.60M $46.69M
YoY Change 6.26% -0.57% -2.11%
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 $5.979M $6.648M $6.376M
YoY Change -16.97% -9.43% 9.67%
% of Gross Profit
Operating Expenses $30.66M $30.36M $33.89M
YoY Change -0.02% -1.03% 8.78%
Operating Profit $9.865M $8.242M $12.82M
YoY Change 31.71% 1.17% -22.64%
Interest Expense $3.269M -$3.779M $3.518M
YoY Change 25.97% 35.3% 49.38%
% of Operating Profit 33.14% -45.85% 27.44%
Other Income/Expense, Net $5.365M $1.201M $1.432M
YoY Change 213.56% -0.25% -29.77%
Pretax Income $11.96M $5.665M $10.74M
YoY Change 81.06% -22.6% -33.97%
Income Tax $1.279M -$102.0K $746.0K
% Of Pretax Income 10.69% -1.8% 6.95%
Net Earnings $10.68M $5.765M $9.990M
YoY Change 82.04% -19.58% -30.1%
Net Earnings / Revenue 26.38% 14.93% 21.4%
Basic Earnings Per Share $0.60 $0.32 $0.56
Diluted Earnings Per Share $0.59 $0.32 $0.56
COMMON SHARES
Basic Shares Outstanding 17.82M shares 17.81M shares 17.75M shares
Diluted Shares Outstanding 17.93M shares 17.87M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.855M $2.390M $3.000M
YoY Change -41.28% -37.57% 3.16%
Cash & Equivalents $2.855M $2.390M $2.970M
Short-Term Investments
Other Short-Term Assets $15.68M $11.13M $14.20M
YoY Change 24.73% -1.36% -3.34%
Inventory $7.072M $6.972M $6.400M
Prepaid Expenses $4.371M $1.833M $2.918M
Receivables $15.73M $18.17M $18.99M
Other Receivables $69.87M $69.87M $93.20M
Total Short-Term Assets $111.2M $108.5M $135.8M
YoY Change 181.4% 190.93% 227.36%
LONG-TERM ASSETS
Property, Plant & Equipment $1.024B $1.013B $1.000B
YoY Change 7.0% 8.28% 9.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $39.00K $62.00K $51.00K
YoY Change 0.0% 226.32% -51.43%
Total Long-Term Assets $1.139B $1.128B $1.108B
YoY Change 7.5% 8.71% 8.25%
TOTAL ASSETS
Total Short-Term Assets $111.2M $108.5M $135.8M
Total Long-Term Assets $1.139B $1.128B $1.108B
Total Assets $1.250B $1.236B $1.243B
YoY Change 13.76% 15.04% 16.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.24M $27.62M $28.60M
YoY Change -15.86% 11.15% 10.56%
Accrued Expenses $2.650M $3.138M $3.100M
YoY Change -14.46% -3.0% 7.86%
Deferred Revenue $1.390M
YoY Change
Short-Term Debt $58.00M $42.80M $42.30M
YoY Change 103.51% -22.88% 4.44%
Long-Term Debt Due $363.6M $7.740M $7.444M
YoY Change 1983.91% -55.68% -1.63%
Total Short-Term Liabilities $117.2M $103.8M $121.3M
YoY Change 22.07% -11.9% 30.48%
LONG-TERM LIABILITIES
Long-Term Debt $357.0M $358.2M $354.3M
YoY Change 8.29% 23.38% 17.61%
Other Long-Term Liabilities $498.0K $592.0K $681.0K
YoY Change -40.5% -35.58% -32.17%
Total Long-Term Liabilities $357.5M $358.7M $355.0M
YoY Change 8.17% 23.2% 17.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $117.2M $103.8M $121.3M
Total Long-Term Liabilities $357.5M $358.7M $355.0M
Total Liabilities $474.6M $462.6M $476.3M
YoY Change 11.29% 13.08% 20.51%
SHAREHOLDERS EQUITY
Retained Earnings $181.1M $176.2M $176.3M
YoY Change 8.08% 5.35% 6.45%
Common Stock $246.6M $246.8M $243.3M
YoY Change 4.58% 5.88% 4.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $427.7M $423.0M $419.6M
YoY Change
Total Liabilities & Shareholders Equity $1.250B $1.236B $1.243B
YoY Change 13.76% 15.04% 16.79%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $10.68M $5.765M $9.990M
YoY Change 82.04% -19.58% -30.1%
Depreciation, Depletion And Amortization $5.979M $6.648M $6.376M
YoY Change -16.97% -9.43% 9.67%
Cash From Operating Activities $6.652M $12.79M $10.70M
YoY Change -58.35% -25.28% -38.43%
INVESTING ACTIVITIES
Capital Expenditures $14.39M $17.11M $22.43M
YoY Change -41.31% -32.63% -15.66%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$14.39M -$17.11M -$22.43M
YoY Change -41.31% -32.63% -15.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.539M
YoY Change -0.9%
Cash From Financing Activities $8.202M 3.729M 10.33M
YoY Change -14.38% -59.45% 32.37%
NET CHANGE
Cash From Operating Activities $6.652M 12.79M 10.70M
Cash From Investing Activities -$14.39M -17.11M -22.43M
Cash From Financing Activities $8.202M 3.729M 10.33M
Net Change In Cash $465.0K -588.0K -1.400M
YoY Change -55.03% -163.91% -0.85%
FREE CASH FLOW
Cash From Operating Activities $6.652M $12.79M $10.70M
Capital Expenditures $14.39M $17.11M $22.43M
Free Cash Flow -$7.737M -$4.317M -$11.73M
YoY Change -9.46% -47.84% 27.28%

Facts In Submission

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IncreaseDecreaseinUnbilledRevenues
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IncreaseDecreaseinUnbilledRevenues
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CY2021 msex Increase Decreasein Unbilled Revenues
IncreaseDecreaseinUnbilledRevenues
208000 usd
CY2023 us-gaap Increase Decrease In Raw Materials Packaging Materials And Supplies Inventories
IncreaseDecreaseInRawMaterialsPackagingMaterialsAndSuppliesInventories
795000 usd
CY2022 us-gaap Increase Decrease In Raw Materials Packaging Materials And Supplies Inventories
IncreaseDecreaseInRawMaterialsPackagingMaterialsAndSuppliesInventories
819000 usd
CY2021 us-gaap Increase Decrease In Raw Materials Packaging Materials And Supplies Inventories
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246000 usd
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CY2021 us-gaap Increase Decrease In Prepaid Expense
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603000 usd
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549000 usd
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295000 usd
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2023Q4 us-gaap Stockholders Equity
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CY2021 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2021 us-gaap Dividends Common Stock Cash
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CY2022 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2022Q4 us-gaap Stockholders Equity
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CY2023 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
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CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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StockIssuedDuringPeriodValueOther
360000 usd
CY2023 us-gaap Dividends Common Stock Cash
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CY2023 us-gaap Dividends Preferred Stock Cash
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2023 msex Percentage Of Voting Interest
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0.50 pure
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RegulatedOperatingRevenueOther
806000 usd
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RegulatedOperatingRevenueOther
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UnregulatedOperatingRevenue
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CY2023 msex Percentage Of Voting Interest
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0.50 pure
CY2023 msex Percentage Of Operating Revenues
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0.93 pure
CY2023 msex Percentage Of Total Assets
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0.99 pure
CY2023 msex Industrial Operating Revenues
IndustrialOperatingRevenues
11586000 usd
CY2022 msex Industrial Operating Revenues
IndustrialOperatingRevenues
11152000 usd
CY2021 msex Industrial Operating Revenues
IndustrialOperatingRevenues
8990000 usd
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FireProtectionOperatingRevenues
12582000 usd
CY2023 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
19117000 usd
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WholesaleMunicipalRevenue
18769000 usd
CY2021 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
14590000 usd
CY2023 msex Nonregulated Contract Operations Revenue
NonregulatedContractOperationsRevenue
12320000 usd
CY2023 msex Percentage Of Operating Revenues
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0.93 pure
CY2023 msex Percentage Of Total Assets
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2023 us-gaap Provision For Doubtful Accounts
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CY2022 us-gaap Provision For Doubtful Accounts
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CY2021 us-gaap Provision For Doubtful Accounts
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CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2023 msex Residential Operating Revenues
ResidentialOperatingRevenues
86581000 usd
CY2022 msex Residential Operating Revenues
ResidentialOperatingRevenues
84950000 usd
CY2021 msex Residential Operating Revenues
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CY2023 msex Commercial Operating Revenues
CommercialOperatingRevenues
23945000 usd
CY2022 msex Commercial Operating Revenues
CommercialOperatingRevenues
22689000 usd
CY2021 msex Commercial Operating Revenues
CommercialOperatingRevenues
16715000 usd
CY2023 msex Residential Operating Revenues
ResidentialOperatingRevenues
86581000 usd
CY2022 msex Residential Operating Revenues
ResidentialOperatingRevenues
84950000 usd
CY2021 msex Residential Operating Revenues
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CY2023 msex Commercial Operating Revenues
CommercialOperatingRevenues
23945000 usd
CY2022 msex Commercial Operating Revenues
CommercialOperatingRevenues
22689000 usd
CY2021 msex Commercial Operating Revenues
CommercialOperatingRevenues
16715000 usd
CY2023 msex Industrial Operating Revenues
IndustrialOperatingRevenues
11586000 usd
CY2022 msex Industrial Operating Revenues
IndustrialOperatingRevenues
11152000 usd
CY2021 msex Industrial Operating Revenues
IndustrialOperatingRevenues
8990000 usd
CY2023 msex Fire Protection Operating Revenues
FireProtectionOperatingRevenues
12582000 usd
CY2022 msex Fire Protection Operating Revenues
FireProtectionOperatingRevenues
12726000 usd
CY2021 msex Fire Protection Operating Revenues
FireProtectionOperatingRevenues
12608000 usd
CY2023 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
19117000 usd
CY2022 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
18769000 usd
CY2021 msex Wholesale Municipal Revenue
WholesaleMunicipalRevenue
14590000 usd
CY2023 msex Nonregulated Contract Operations Revenue
NonregulatedContractOperationsRevenue
12320000 usd
CY2022 msex Nonregulated Contract Operations Revenue
NonregulatedContractOperationsRevenue
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CY2021 msex Nonregulated Contract Operations Revenue
NonregulatedContractOperationsRevenue
12391000 usd
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2021 us-gaap Regulated Operating Revenue Other
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CY2023 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
453000 usd
CY2022 us-gaap Unregulated Operating Revenue
UnregulatedOperatingRevenue
440000 usd
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CY2023 msex Inter Segment Elimination Operating Revenues
InterSegmentEliminationOperatingRevenues
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CY2022 msex Inter Segment Elimination Operating Revenues
InterSegmentEliminationOperatingRevenues
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CY2021 msex Inter Segment Elimination Operating Revenues
InterSegmentEliminationOperatingRevenues
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CY2023 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
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CY2022 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
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CY2021 us-gaap Regulated And Unregulated Operating Revenue
RegulatedAndUnregulatedOperatingRevenue
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CY2021 msex Nonregulated Contract Operations Revenue
NonregulatedContractOperationsRevenue
12391000 usd
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1296000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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IncomeTaxReconciliationNondeductibleExpenseOther
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CY2023 msex Inter Segment Elimination Operating Revenues
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CY2022 msex Inter Segment Elimination Operating Revenues
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CY2023 us-gaap Regulated And Unregulated Operating Revenue
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>(q) Use of Estimates</b> - 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>
CY2023 msex Obligation To Pay Percentage
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CY2023Q4 msex Base Rate Amount
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CY2021Q4 us-gaap Public Utilities Approved Rate Increase Decrease Amount
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CY2024Q1 msex Distribution System Improvement Charge Rate
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CY2022Q3 msex Effective Percentage Of Service Rendered
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CY2021Q1 us-gaap Public Utilities Approved Rate Increase Decrease Amount
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CY2023Q1 msex Threshold Percentage Increased In Capital Expenditure
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CY2023 msex Percentag Of Consumer Price Index
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CY2023Q4 us-gaap Regulatory Assets
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CY2022Q4 us-gaap Regulatory Assets
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LegalFees
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>(q) Use of Estimates</b> - 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>
CY2023 msex Obligation To Pay Percentage
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0.30 pure
CY2023 us-gaap Proceeds From Fees Received
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CY2023 msex Base Rate Amount
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CY2023 us-gaap Public Utilities Approved Return On Equity Percentage
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CY2023Q4 msex Distribution System Improvement Charge Rate
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CY2023Q4 msex Base Rate Amount
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5500000 usd
CY2021Q4 us-gaap Public Utilities Approved Rate Increase Decrease Amount
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27700000 usd
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CY2024Q1 msex Distribution System Improvement Charge Rate
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CY2022Q3 msex Effective Percentage Of Service Rendered
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CY2021Q1 us-gaap Public Utilities Approved Rate Increase Decrease Amount
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CY2023Q1 msex Threshold Percentage Increased In Capital Expenditure
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CY2023 msex Percentag Of Consumer Price Index
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CY2023Q4 us-gaap Regulatory Assets
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CY2022Q4 us-gaap Regulatory Liabilities
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
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CY2022 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
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CY2021 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
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CY2023 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
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CY2022 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
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CY2022Q4 us-gaap Regulatory Liabilities
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6839000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
9590000 usd
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
6521000 usd
CY2023 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
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CY2022 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
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CY2021 us-gaap Income Tax Reconciliation Disposition Of Assets
IncomeTaxReconciliationDispositionOfAssets
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CY2023 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
-5475000 usd
CY2022 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
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CY2021 msex Income Tax Reconciliation Tangible Property Repairs
IncomeTaxReconciliationTangiblePropertyRepairs
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CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1117000 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1296000 usd
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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IncomeTaxReconciliationNondeductibleExpenseOther
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IncomeTaxReconciliationNondeductibleExpenseOther
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1041000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Current Federal Tax Expense Benefit
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CY2023 us-gaap Current State And Local Tax Expense Benefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2023 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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CY2022Q4 us-gaap Employee Related Liabilities Current
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CY2022Q4 msex Deferred Tax Liabilities Investment Tax Credits
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CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
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CY2023Q4 us-gaap Deferred Tax Liabilities
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CY2022Q4 us-gaap Deferred Tax Liabilities
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77783000 usd
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DeferredTaxLiabilitiesUtilityPlantRelated
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CY2023 msex Cost Of Untreated Water
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CY2022 msex Cost Of Untreated Water
CostOfUntreatedWater
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CY2021 msex Cost Of Untreated Water
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CY2023 msex Cost Of Treated Water
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5300000 usd
CY2022 msex Cost Of Treated Water
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CY2023 us-gaap Cost Of Purchased Water
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8500000 usd
CY2022 us-gaap Cost Of Purchased Water
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7100000 usd
CY2023Q4 msex Estimated Incremental Borrowing Rate
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0.0403 pure
CY2023 us-gaap Operating Lease Lease Income Lease Payments
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CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
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CY2022Q4 msex Right Of Use Asset At Lease Inception
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CY2022Q4 msex Operating Lease Right Of Use Asset Accumulated Amortization
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2024Q4 msex Budgeted Construction Cost
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CY2025Q4 msex Budgeted Construction Cost
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CY2026Q4 msex Budgeted Construction Cost
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CY2026Q4 msex Estimatedobligationexpenditure
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CY2023 msex Cost Of Untreated Water
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CY2022 msex Cost Of Untreated Water
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CY2021 msex Cost Of Untreated Water
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CY2023 msex Cost Of Treated 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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CY2023 us-gaap Cost Of Purchased Water
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8500000 usd
CY2022 us-gaap Cost Of Purchased Water
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CY2021 us-gaap Cost Of Purchased Water
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CY2023Q4 msex Estimated Incremental Borrowing Rate
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CY2023 us-gaap Operating Lease Lease Income Lease Payments
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CY2022 us-gaap Operating Lease Lease Income Lease Payments
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CY2021 us-gaap Operating Lease Lease Income Lease Payments
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CY2023Q4 msex Right Of Use Asset At Lease Inception
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7300000 usd
CY2022Q4 msex Right Of Use Asset At Lease Inception
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CY2023Q4 msex Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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CY2024Q4 msex Budgeted Construction Cost
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CY2025Q4 msex Budgeted Construction Cost
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CY2026Q4 msex Budgeted Construction Cost
BudgetedConstructionCost
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CY2026Q4 msex Estimatedobligationexpenditure
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CY2023 us-gaap Line Of Credit Facility Average Outstanding Amount
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CY2023 us-gaap Line Of Credit Facility Average Outstanding Amount
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CY2022 us-gaap Line Of Credit Facility Average Outstanding Amount
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CY2023 us-gaap Line Of Credit Facility Interest Rate During Period
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CY2022 us-gaap Line Of Credit Facility Interest Rate During Period
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CY2023Q4 us-gaap Short Term Borrowings
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CY2022Q4 us-gaap Short Term Borrowings
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CY2023Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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CY2022Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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CY2023Q4 us-gaap Lines Of Credit Current
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CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
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CY2023Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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CY2023Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2023Q1 msex Percentage Of Discount Purchase Of Common Stock In Investment Plan
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CY2023Q2 us-gaap Common Stock Shares Authorized
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CY2023Q4 msex Additional Shares Authorized By Sec To Be Issued
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2023Q2 msex Borrowed Loan
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2023 msex Convertible Preferred Stock
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CY2023 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Line Of Credit Facility Average Outstanding Amount
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CY2023 us-gaap Line Of Credit Facility Interest Rate During Period
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CY2023Q4 us-gaap Short Term Borrowings
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CY2022Q4 us-gaap Short Term Borrowings
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CY2023Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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CY2022Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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CY2023Q4 us-gaap Lines Of Credit Current
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CY2023Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
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CY2023Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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CY2023Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2023Q1 msex Percentage Of Discount Purchase Of Common Stock In Investment Plan
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CY2023Q2 us-gaap Common Stock Shares Authorized
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CY2023Q4 msex Additional Shares Authorized By Sec To Be Issued
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2023Q2 msex Borrowed Loan
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2023 msex Convertible Preferred Stock
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CY2023 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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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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CY2021 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q4 msex Earnings Applicable To Common Stock
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q4 msex Earnings Applicable To Common Stock
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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 Stock
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CY2023 us-gaap Earnings Per Share Basic
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CY2022 us-gaap Earnings Per Share Basic
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CY2021 us-gaap Earnings Per Share Basic
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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31404000 usd
CY2023Q4 msex Earnings Applicable To Common Stock
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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42309000 usd
CY2022Q4 msex Earnings Applicable To Common Stock
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023 us-gaap Preferred Stock Dividends Per Share Declared
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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
CY2023 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2023Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
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CY2022 us-gaap Convertible Preferred Dividends Net Of Tax
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67000 usd
CY2022Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
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CY2021 us-gaap Convertible Preferred Dividends Net Of Tax
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2023 msex Adjusted Earnings Applicable To Common Stock
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
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42376000 usd
CY2022 msex Adjusted Earnings Applicable To Common Stock
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CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2023 us-gaap Earnings Per Share Diluted
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CY2022 us-gaap Earnings Per Share Diluted
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CY2021 us-gaap Earnings Per Share Diluted
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Long Term Debt Fair Value
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Long Term Debt Fair Value
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CY2023Q4 us-gaap Fair Value Option Ineligible Items Aggregate Carrying Amount
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CY2022Q4 us-gaap Fair Value Option Ineligible Items Aggregate Carrying Amount
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CY2023Q4 msex Customer Advances For Construction Work
CustomerAdvancesForConstructionWork
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CY2022Q4 msex Customer Advances For Construction Work
CustomerAdvancesForConstructionWork
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CY2023Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
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83700000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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17597 shares
CY2021 us-gaap Income Loss Including Portion Attributable To Noncontrolling Interest
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36543000 usd
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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17492 shares
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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31404000 usd
CY2023Q4 msex Earnings Applicable To Common Stock
EarningsApplicableToCommonStock
17732 shares
CY2022Q4 msex Earnings Applicable To Common Stock
EarningsApplicableToCommonStock
17597 shares
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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36423000 usd
CY2021Q4 msex Earnings Applicable To Common Stock
EarningsApplicableToCommonStock
17492 shares
CY2023 us-gaap Earnings Per Share Basic
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1.77
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
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31404000 usd
CY2023Q4 msex Earnings Applicable To Common Stock
EarningsApplicableToCommonStock
17732 shares
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
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42309000 usd
CY2022Q4 msex Earnings Applicable To Common Stock
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17597 shares
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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36423000 usd
CY2021Q4 msex Earnings Applicable To Common Stock
EarningsApplicableToCommonStock
17492 shares
CY2023 us-gaap Preferred Stock Dividends Per Share Declared
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CY2022 us-gaap Preferred Stock Dividends Per Share Declared
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7
CY2021 us-gaap Preferred Stock Dividends Per Share Declared
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7
CY2023 us-gaap Convertible Preferred Dividends Net Of Tax
ConvertiblePreferredDividendsNetOfTax
67000 usd
CY2023Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
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115 shares
CY2022 us-gaap Convertible Preferred Dividends Net Of Tax
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67000 usd
CY2022Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
115 shares
CY2021 us-gaap Convertible Preferred Dividends Net Of Tax
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67000 usd
CY2021Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
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115 shares
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
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31471000 usd
CY2023 msex Adjusted Earnings Applicable To Common Stock
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17847 shares
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
42376000 usd
CY2022 msex Adjusted Earnings Applicable To Common Stock
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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 Stock
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CY2023 us-gaap Earnings Per Share Diluted
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1.76
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.39
CY2021 us-gaap Earnings Per Share Diluted
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2.07
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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133374000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
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131745000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022Q4 us-gaap Long Term Debt Fair Value
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138756000 usd
CY2023Q4 us-gaap Fair Value Option Ineligible Items Aggregate Carrying Amount
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231300000 usd
CY2022Q4 us-gaap Fair Value Option Ineligible Items Aggregate Carrying Amount
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159100000 usd
CY2023Q4 msex Customer Advances For Construction Work
CustomerAdvancesForConstructionWork
21300000 usd
CY2022Q4 msex Customer Advances For Construction Work
CustomerAdvancesForConstructionWork
21400000 usd
CY2023Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
83700000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
79400000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
79400000 usd
CY2023Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
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0.075 pure
CY2023Q4 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years One To Three
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0.005 pure
CY2023Q4 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years Four And Five
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0.045 pure
CY2023Q4 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedNextFiscalYear
0.075 pure
CY2023Q4 msex Increase Decrease In Annual Rate Per Capita Cost Of Covered Healthcare Benefits Years One To Three
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0.005 pure
CY2023 msex Number Of Hours Required To Participate In Contribution Plan
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1000 pure
CY2023 msex Percent Of Participants Contributions Matched By Company Below One Percent Of Participants Compensation
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1 pure
CY2023 msex Stock Based Compensation Remain Award Rate
StockBasedCompensationRemainAwardRate
0.01 pure
CY2023 msex Percent Of Participants Contributions Matched By Company Above One Percent Of Participants Compensation
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0.50 pure
CY2023 msex Threshold Percentage Of Participants Compensation At Which Matching Decreases
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0.01 pure
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
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0.06 pure
CY2023 msex Matching Contributions
MatchingContributions
800000 usd
CY2022 msex Matching Contributions
MatchingContributions
700000 usd
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
900000 usd
CY2023 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.05 pure
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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