Company: MSEX
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047821
Chunk: 8

Company: MIDDLESEX WATER CO
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 Production$325,756 $314,924 Transmission and Distribution918,455 855,497 General108,142 105,167 Construction Work in Progress37,444 34,209 TOTAL1,389,797 1,309,797 Less Accumulated Depreciation270,445 254,425 UTILITY PLANT - NET1,119,352 1,055,372 CURRENT ASSETS:Cash and Cash Equivalents3,384 4,226 Accounts Receivable, net of allowance for credit losses of $2,055 and $2,326 in 2025 and 2024, respectively22,738 18,842 Unbilled Revenues10,987 10,764 Materials and Supplies (at average cost)7,309 6,719 Prepayments5,184 2,422 TOTAL CURRENT ASSETS49,602 42,973 OTHER ASSETS:Operating Lease Right of Use Asset2,117 2,567 Restricted Cash1,675 — Regulatory Assets109,951 101,783 Non-utility Assets - Net12,195 11,760 Employee Benefit Plans40,468 36,856 Other6,599 3,863 TOTAL OTHER ASSETS173,005 156,829 TOTAL ASSETS$1,341,959 $1,255,174 CAPITALIZATION AND LIABILITIESCAPITALIZATION:Common Stock, No Par Value, authorized 40,000, issued 18,337 and 17,887 in 2025 and 2024, respectively$269,636 $248,202 Retained Earnings212,910 197,061 TOTAL COMMON EQUITY482,546 445,263 Preferred Stock, No Par Value; authorized 120; issued 131,352 1,635 Long-term Debt350,151 352,822 TOTAL CAPITALIZATION834,049 799,720 CURRENTCurrent Portion of Long-term Debt7,645 7,711 LIABILITIES:Notes Payable55,000 23,000 Accounts Payable28,143 28,050 Accrued Taxes15,540 11,976 Accrued Interest2,554 2,916 Unearned Revenues and Advanced Service Fees1,497 1,476 Other7,902 7,759 TOTAL CURRENT LIABILITIES