Balance Sheet

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Year Ending Dec 2025 (Update) Year Ending Dec 2024 (Update) Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update)
Cash & Equivalents 2.80 4.23 2.39 3.83
Cash and Short Term Investments 2.80 4.23 2.39 3.83
Accounts Receivable - Trade, Gross 20.84 21.54 20.31 18.34
Provision for Doubtful Accounts -1.63 -2.70 -2.14 -2.33
Accounts Receivable - Trade, Net 19.21 18.84 18.17 16.02
Receivables - Other 0.00 69.87
Total Receivables, Net 19.21 18.84 88.04 16.02
Inventories - Raw Materials 7.55 6.72 6.97 6.18
Total Inventory 7.55 6.72 6.97 6.18
Prepaid Expenses 2.84 2.42 1.83 2.62
Unbilled Utility Revenues 9.36 10.76 9.30 8.66
Other Current Assets, Total 9.36 10.76 9.30 8.66
Total Current Assets 41.77 42.97 108.54 37.31
Construction in Progress - Gross 44.40 34.21 19.64 53.57
Other Property/Plant/Equipment - Gross 7.27 7.27 7.29 7.33
Property/Plant/Equipment, Total - Gross 51.67 41.48 26.92 60.90
Accumulated Depreciation, Total -5.30 -4.70 -4.10 -3.50
Property/Plant/Equipment, Total - Net 58.73 48.54 34.34 68.60
Utility Plant - Gross 1,377.94 1,275.59 1,214.25 1,081.87
Utility Plant Accumulated Depreciation -275.13 -254.43 -235.54 -214.89
Utility Plant, Net 1,102.81 1,021.16 978.71 866.98
Total Utility Plant, Net 1,102.81 1,021.16 978.71 866.98
Note Receivable - Long Term
Deferred Charges 1.93 2.81
Pension Benefits - Overfunded 44.33 36.86 21.78 8.69
Restricted Cash - Long Term 1.68
Other Long Term Assets 116.44 105.65 90.76 90.07
Other Long Term Assets, Total 162.44 142.50 114.47 101.56
Total Assets 1,365.74 1,255.17 1,236.05 1,074.45
Accounts Payable 31.33 28.05 27.62 24.85
Accrued Expenses 3.91 3.52 3.74 3.24
Notes Payable/Short Term Debt 28.25 23.00 42.75 55.50
Current Portion of Long Term Debt/Capital Leases 7.85 7.71 7.74 17.46
Customer Advances 0.50 1.48 1.39 1.37
Income Taxes Payable 15.99 11.98 10.54 12.16
Other Payables 6.24
Other Current Liabilities 5.97 7.16 3.82 3.29
Other Current liabilities, Total 22.46 20.61 21.98 16.82
Total Current Liabilities 93.80 82.89 103.83 117.86
Long Term Debt 378.87 352.82 358.15 290.28
Total Long Term Debt 378.87 352.82 358.15 290.28
Total Debt 414.97 383.53 408.64 363.24
Deferred Income Tax - Long Term Liability 110.48 101.24 88.74 77.78
Deferred Income Tax 110.48 101.24 88.74 77.78
Pension Benefits - Underfunded 0.00
Other Long Term Liabilities 287.22 271.33 260.26 186.12
Other Liabilities, Total 287.22 271.33 260.26 186.12
Total Liabilities 870.36 808.28 810.98 672.04
Convertible Preferred Stock – Non-Redeemable 1.34 1.64 2.08 2.08
Preferred Stock - Non Redeemable, Net 1.34 1.64 2.08 2.08
Common Stock 279.15 248.20 246.76 233.05
Common Stock, Total 279.15 248.20 246.76 233.05
Retained Earnings (Accumulated Deficit) 214.88 197.06 176.23 167.27
Total Equity 495.37 446.90 425.08 402.41
Total Liabilities & Shareholders' Equity 1,365.74 1,255.17 1,236.05 1,074.45
Shares Outstanding – Common Stock Primary Issue 18.52 17.89 17.82 17.64
Total Common Shares Outstanding 18.52 17.89 17.82 17.64
Treasury Shares – Common Primary Issue 0.00 0.00 0.00 0.00
Shares Outstanding - Preferred Issue 2 0.01 0.01 0.01 0.01
Shares Outstanding - Preferred Issue 3 0.00 0.00 0.00 0.00
Shares Outstanding - Preferred Issue 4
Shares Outstanding - Preferred Issue 5 0.00 0.01 0.01 0.01
Total Preferred Shares Outstanding 0.01 0.02 0.02 0.02
Treasury Shares - Preferred Issue 2 0.00 0.00 0.00 0.00
Treasury Shares - Preferred Issue 3 0.00 0.00 0.00 0.00
Treasury Shares - Preferred Issue 4
Treasury Shares - Preferred Issue 5 0.00 0.00 0.00 0.00
Employees 395.00 360.00 355.00 350.00
Number of Common Shareholders 1,554.00 1,631.00 1,717.00 1,751.00
Deferred Revenue - Current 0.50 1.48 1.39 1.37
Deferred Revenue - Long Term 25.52 22.63 21.31 21.38
Total Current Assets less Inventory 34.22 36.25 101.56 31.13
Quick Ratio 0.36 0.44 0.98 0.26
Current Ratio 0.45 0.52 1.05 0.32
Net Debt 413.52 380.94 408.34 361.50
Tangible Book Value 494.03 445.26 422.99 400.33
Tangible Book Value per Share 26.67 24.89 23.74 22.69
Total Long Term Debt, Supplemental 385.90 359.40 364.70 306.40
Long Term Debt Maturing within 1 Year 7.90 7.70 7.70 17.50
Long Term Debt Maturing in Year 2 7.50 7.50 7.60 7.40
Long Term Debt Maturing in Year 3 7.20 7.30 7.40 6.90
Long Term Debt Maturing in Year 4 6.70 7.00 7.20 6.70
Long Term Debt Maturing in Year 5 5.80 6.50 6.90 6.40
Long Term Debt Maturing in 2-3 Years 14.70 14.80 15.00 14.30
Long Term Debt Maturing in 4-5 Years 12.50 13.50 14.10 13.10
Long Term Debt Maturing in Year 6 & Beyond 350.80 323.40 327.90 261.50
Total Operating Leases 2.40 3.00 3.70 4.40
Operating Lease Payments Due in Year 1 0.80 0.80 0.80 0.80
Operating Lease Payments Due in Year 2 0.90 0.80 0.80 0.80
Operating Lease Payments Due in Year 3 0.90 0.90 0.90 0.80
Operating Lease Payments Due in Year 4 0.90 0.90 0.90 0.90
Operating Lease Payments Due in Year 5 0.00 0.90 0.90 0.90
Operating Lease Payments Due in 2-3 Years 1.80 1.70 1.70 1.60
Operating Lease Payments Due in 4-5 Years 0.90 1.80 1.80 1.80
Standardized Operating Lease Payments Due in Year 6 and Beyond -1.10 -1.30 -0.60 0.20
Pension Obligation - Domestic 89.05 87.50 91.85 87.79
Post-Retirement Obligation 32.03 28.20 28.00 32.91
Plan Assets - Domestic 104.02 98.65 92.35 84.83
Plan Assets - Post-Retirement 60.50 53.03 48.35 44.03
Funded Status - Domestic 14.97 11.15 0.49 -2.96
Funded Status - Post-Retirement 28.47 24.83 20.35 11.12
Accumulated Obligation - Post-Retirement
Total Funded Status 43.45 35.97 20.85 8.16
Discount Rate - Domestic 5.39 5.47 4.79 4.98
Discount Rate - Post-Retirement 5.49 5.49 4.79 4.98
Expected Rate of Return - Domestic 7.00 7.00 7.00 7.00
Expected Rate of Return - Post-Retirement 7.00 7.00 7.00 7.00
Compensation Rate - Domestic
Compensation Rate - Post-Retirement 3.00 3.00 3.00 3.00
Accrued Liabilities - Domestic -45.21 -37.74 -22.71 -14.08
Accrued Liabilities - Post-Retirement -28.47 -24.83 -20.35 -11.12
Net Assets Recognized on Balance Sheet -73.69 -62.57 -43.06 -25.20
Equity % - Domestic 51.90 31.80 58.10 53.60
Equity % - Post-Retirement 68.00 65.20 60.90 55.20
Debt Securities % - Domestic 47.50 67.90 39.60 40.90
Debt Securities % - Post-Retirement 30.00 33.00 36.10 24.70
Real Estate % - Domestic 1.60 1.60
Real Estate % - Post-Retirement
Other Investments % - Domestic 0.60 0.30 0.70 3.90
Other Investments % - Post-Retirement 2.00 1.80 3.00 20.10
Total Plan Obligations 121.08 115.70 119.85 120.70
Total Plan Assets 164.52 151.68 140.70 128.86

“Update” reflects most recent financial period displayed

In millions of USD (except for per share items)

Source: LSEG