Segment Reporting

3 Months Ended

Mar. 31, 2012

Notes To Financial Statements [Abstract]

7. Segment Reporting

The Company operates principally in three business segments: Water Activities, Real Estate Transactions, and Services and Rentals. Results of operations for the three months ended March 31, 2012 include the results of Maine Water. Financial data for the segments is as follows (in thousands):

Three Months Ended March 31, 2012
Segment	Revenues		Pre-Tax Income		Income Tax Expense		Net Income
Water Activities	$	18,889	$	2,485	$	925	$	1,560
Real Estate Transactions		--		--		--		--
Services and Rentals		1,335		591		241		350
Total	$	20,224	$	3,076	$	1,166	$	1,910

Three Months Ended March 31, 2011
Segment	Revenues		Pre-Tax Income		Income Tax Expense		Net Income
Water Activities	$	16,323	$	3,257	$	1,182	$	2,075
Real Estate Transactions		--		--		--		--
Services and Rentals		1,167		329		136		193
Total	$	17,490	$	3,586	$	1,318	$	2,268

The revenues shown in Water Activities above consist of revenues from water customers of $18,540,000 and $15,989,000 for the three months ended March 31, 2012 and 2011, respectively. Additionally, there were revenues associated with utility plant leased to others of $349,000 and $334,000 for the three months ended March 31, 2012 and 2011, respectively.

The Company owns various small, discrete parcels of land that are no longer required for water supply purposes. From time to time, the Company may sell or donate these parcels, depending on various factors, including the current market for land, the amount of tax benefits received for donations and the Company’s ability to use any benefits received from donations. During the three months ended March 31, 2012 and 2011, the Company did not engage in any such transactions.

Assets by segment (in thousands):

	March 31, 2012		December 31, 2011
Total Plant and Other Investments:
Water Activities	$	418,159	$	364,955
Non-Water		662		635
		418,821		365,590
Other Assets:
Water Activities		107,990		96,996
Non-Water		21,142		2,245
		129,132		99,241
Total Assets	$	547,953	$	464,831