Company: MSEX
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047821
Chunk: 25

Company: MIDDLESEX WATER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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Table of Contents

(In Thousands)Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Operation by Segments (continued)Interest Charges:Regulated$4,377 $3,557 $11,031 $10,963 Non – Regulated— — — — Inter-segment Elimination(177)(146)(496)(242)Consolidated Interest Charges$4,200 $3,411 $10,535 $10,721 Income Taxes:Regulated$1,116 $1,457 $3,074 $5,497 Non – Regulated$315 282 $927 905 Consolidated Income Taxes$1,431 $1,739 $4,001 $6,402 Net Income:Regulated$13,335 $13,697 $32,289 $33,576 Non – Regulated$623 622 $1,928 1,971 Consolidated Net Income$13,958 $14,319 $34,217 $35,547 Capital Expenditures:Regulated$20,785 $20,743 $71,334 $49,444 Non – Regulated222 — $308 36 Total Capital Expenditures$21,007 $20,743 $71,642 $49,480 (Thousands of Dollars)As ofSeptember 30,2025As ofDecember 31,2024Assets:Regulated1,351,268 $1,264,472 Non – Regulated7,679 7,671 Inter-segment Elimination(16,988)(16,969)Consolidated Assets$1,341,959 $1,255,174 

Note 6 – Short-term Borrowings

The Company maintains lines of credit aggregating $148.0 million.(Millions)As of September 30, 2025Line of CreditOutstandingAvailableMaximumCredit TypeExpiration DateBank of America$10.0 $50.0 $60.0 UncommittedJuly 31, 2026PNC Bank28.2 $39.8 68.0 CommittedJanuary 31, 2027CoBank, ACB16.8 3.2 20.0 CommittedMay 20,