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1. | Basis of Preparation of Financials |
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2. | Pension and Other Post-Retirement Benefits |
Three Months | Nine Months | ||||||||||||||
Period ended September 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 474 | $ | 538 | $ | 1,421 | $ | 1,614 | |||||||
Interest Cost | 803 | 778 | 2,409 | 2,335 | |||||||||||
Expected Return on Plan Assets | (1,020 | ) | (961 | ) | (3,060 | ) | (2,885 | ) | |||||||
Amortization of: | |||||||||||||||
Prior Service Cost | 4 | 4 | 12 | 12 | |||||||||||
Net Recognized Loss | 512 | 744 | 1,537 | 2,234 | |||||||||||
Net Periodic Benefit Cost | $ | 773 | $ | 1,103 | $ | 2,319 | $ | 3,310 |
Three Months | Nine Months | ||||||||||||||
Period ended September 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 94 | $ | 114 | $ | 282 | $ | 343 | |||||||
Interest Cost | 135 | 141 | 406 | 423 | |||||||||||
Expected Return on Plan Assets | (86 | ) | (81 | ) | (256 | ) | (243 | ) | |||||||
Other | 57 | 57 | 169 | 169 | |||||||||||
Amortization of: | |||||||||||||||
Prior Service Credit | (100 | ) | (142 | ) | (300 | ) | (428 | ) | |||||||
Recognized Net Loss | 8 | 97 | 27 | 290 | |||||||||||
Net Periodic Benefit Cost | $ | 108 | $ | 186 | $ | 328 | $ | 554 |
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4. | Recently Adopted and New Accounting Pronouncements |
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5. | Accumulated Other Comprehensive Income |
Three months ended September 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 187 | $ | (1,057 | ) | $ | (870 | ) | ||||
Other Comprehensive Income Before Reclassification | 46 | — | 46 | |||||||||
Amounts Reclassified from AOCI | — | 39 | 39 | |||||||||
Net current-period Other Comprehensive Income | 46 | 39 | 85 | |||||||||
Ending Balance | $ | 233 | $ | (1,018 | ) | $ | (785 | ) | ||||
Three months ended September 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 250 | $ | (1,832 | ) | $ | (1,582 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (70 | ) | — | (70 | ) | |||||||
Amounts Reclassified from AOCI | — | 48 | 48 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (70 | ) | 48 | (22 | ) | |||||||
Ending Balance | $ | 180 | $ | (1,784 | ) | $ | (1,604 | ) | ||||
Nine months ended September 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 200 | $ | (1,135 | ) | $ | (935 | ) | ||||
Other Comprehensive Income Before Reclassification | 23 | — | 23 | |||||||||
Amounts Reclassified from AOCI | 10 | 117 | 127 | |||||||||
Net current-period Other Comprehensive Income | 33 | 117 | 150 | |||||||||
Ending Balance | $ | 233 | $ | (1,018 | ) | $ | (785 | ) | ||||
Nine months ended September 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 298 | $ | (1,901 | ) | $ | (1,603 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (193 | ) | (65 | ) | (258 | ) | ||||||
Amounts Reclassified from AOCI | 75 | 182 | 257 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (118 | ) | 117 | (1 | ) | |||||||
Ending Balance | $ | 180 | $ | (1,784 | ) | $ | (1,604 | ) | ||||
(a) All amounts shown are net of tax. Amounts in parentheses indicate loss. |
Details about Other AOCI Components | Amounts Reclassified from AOCI Three Months Ended September 30, 2016(a) | Amounts Reclassified from AOCI Three Months Ended September 30, 2015(a) | Affected Line Items on Income Statement | |||||||
Realized Gains on Investments | $ | — | $ | — | Other Income | |||||
Tax expense | — | — | Other Income | |||||||
— | — | |||||||||
Amortization of Recognized Net Gain from Defined Benefit Items | 64 | 79 | Other Income (b) | |||||||
Tax expense | (25 | ) | (31 | ) | Other Income | |||||
39 | 48 | |||||||||
Total Reclassifications for the period, net of tax | $ | 39 | $ | 48 | ||||||
Details about Other AOCI Components | Amounts Reclassified from AOCI Nine Months Ended September 30, 2016(a) | Amounts Reclassified from AOCI Nine Months Ended September 30, 2015(a) | Affected Line Items on Income Statement | |||||||
Realized Gains on Investments | $ | 17 | $ | 128 | Other Income | |||||
Tax expense | (7 | ) | (53 | ) | Other Income | |||||
10 | 75 | |||||||||
Amortization of Recognized Net Gain from Defined Benefit Items | 192 | 275 | Other Income (b) | |||||||
Tax expense | (75 | ) | (93 | ) | Other Income | |||||
117 | 182 | |||||||||
Total Reclassifications for the period, net of tax | $ | 127 | $ | 257 | ||||||
(a) Amounts in parentheses indicate loss/expense. | ||||||||||
(b) Included in computation of net periodic pension cost (see Note 2 for additional details). |
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Long-Term Debt |
2016 | 2015 | ||||||||
Connecticut Water Service, Inc.: | |||||||||
4.09% | Term Loan Note | $ | 13,700 | $ | 14,472 | ||||
The Connecticut Water Company: | |||||||||
Var. | 2004 Series Variable Rate, Due 2029 | 12,500 | 12,500 | ||||||
Var. | 2004 Series A, Due 2028 | 5,000 | 5,000 | ||||||
Var. | 2004 Series B, Due 2028 | 4,550 | 4,550 | ||||||
5.10% | 2009 A Series, Due 2039 | — | 19,930 | ||||||
5.00% | 2011 A Series, Due 2021 | 23,163 | 23,303 | ||||||
3.16% | CoBank Note Payable, Due 2020 | 8,000 | 8,000 | ||||||
3.51% | CoBank Note Payable, Due 2022 | 14,795 | 14,795 | ||||||
4.29% | CoBank Note Payable, Due 2028 | 17,020 | 17,020 | ||||||
4.72% | CoBank Note Payable, Due 2032 | 14,795 | 14,795 | ||||||
4.75% | CoBank Note Payable, Due 2033 | 14,550 | 14,550 | ||||||
4.36% | CoBank Note Payable, Due June 2036 | 30,000 | — | ||||||
4.04% | CoBank Note Payable, Due July 2036 | 19,930 | — | ||||||
Total The Connecticut Water Company | 164,303 | 134,443 | |||||||
The Maine Water Company: | |||||||||
8.95% | 1994 Series G, Due 2024 | 8,100 | 8,100 | ||||||
2.68% | 1999 Series J, Due 2019 | 254 | 339 | ||||||
0.00% | 2001 Series K, Due 2031 | 615 | 656 | ||||||
2.58% | 2002 Series L, Due 2022 | 68 | 75 | ||||||
1.53% | 2003 Series M, Due 2023 | 341 | 361 | ||||||
1.73% | 2004 Series N, Due 2024 | 371 | 401 | ||||||
0.00% | 2004 Series O, Due 2034 | 120 | 127 | ||||||
1.76% | 2006 Series P, Due 2026 | 391 | 411 | ||||||
1.57% | 2009 Series R, Due 2029 | 217 | 227 | ||||||
0.00% | 2009 Series S, Due 2029 | 582 | 628 | ||||||
0.00% | 2009 Series T, Due 2029 | 1,634 | 1,760 | ||||||
0.00% | 2012 Series U, Due 2042 | 154 | 160 | ||||||
1.00% | 2013 Series V, Due 2033 | 1,335 | 1,360 | ||||||
2.52% | CoBank Note Payable, Due 2017 | 1,965 | 1,965 | ||||||
4.24% | CoBank Note Payable, Due 2024 | 4,500 | 4,500 | ||||||
7.72% | Series L, Due 2018 | 2,250 | 2,250 | ||||||
2.40% | Series N, Due 2022 | 1,101 | 1,176 | ||||||
1.86% | Series O, Due 2025 | 790 | 830 | ||||||
2.23% | Series P, Due 2028 | 1,294 | 1,324 | ||||||
0.01% | Series Q, Due 2035 | 1,771 | 1,864 | ||||||
1.00% | Series R, Due 2025 | 2,250 | 2,488 | ||||||
Various | Various Capital Leases | 9 | 17 | ||||||
Total The Maine Water Company | 30,112 | 31,019 | |||||||
Add: Acquisition Fair Value Adjustment | 381 | 562 | |||||||
Less: Current Portion | (2,883 | ) | (2,842 | ) | |||||
Less: Unamortized Debt Issuance Expense | (5,458 | ) | (5,786 | ) | |||||
Total Long-Term Debt | $ | 200,155 | $ | 171,868 |
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Fair Value Disclosures |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Asset Type: | |||||||||||||||
Company Owned Life Insurance | $ | — | $ | 3,078 | $ | — | $ | 3,078 | |||||||
Money Market Fund | 69 | — | — | 69 | |||||||||||
Mutual Funds: | |||||||||||||||
Equity Funds (1) | 1,447 | — | — | 1,447 | |||||||||||
Fixed Income Funds (2) | 467 | — | — | 467 | |||||||||||
Total | $ | 1,983 | $ | 3,078 | $ | — | $ | 5,061 |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Asset Type: | |||||||||||||||
Company Owned Life Insurance | $ | — | $ | 2,909 | $ | — | $ | 2,909 | |||||||
Money Market Fund | 122 | — | — | 122 | |||||||||||
Mutual Funds: | |||||||||||||||
Equity Funds (1) | 1,441 | — | — | 1,441 | |||||||||||
Fixed Income Funds (2) | 485 | — | — | 485 | |||||||||||
Total | $ | 2,048 | $ | 2,909 | $ | — | $ | 4,957 |
(1) | Mutual funds consist primarily of equity securities and are presented on the Other Property and Investments line item of the Company’s Condensed Consolidated Balance Sheets. |
(2) | Mutual funds consist primarily of fixed income securities and are presented on the Other Property and Investments line item of the Company’s Condensed Consolidated Balance Sheets. |
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Segment Reporting |
Three months ended September 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 29,791 | $ | 10,529 | $ | 1,177 | $ | 9,352 | ||||||||
Real Estate Transactions | 8 | 4 | 2 | 2 | ||||||||||||
Services and Rentals | 1,419 | 573 | 392 | 181 | ||||||||||||
Total | $ | 31,218 | $ | 11,106 | $ | 1,571 | $ | 9,535 |
Three months ended September 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income (Loss) | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 28,920 | $ | 9,337 | $ | 1,229 | $ | 8,108 | ||||||||
Real Estate Transactions | 6 | (9 | ) | (360 | ) | 351 | ||||||||||
Services and Rentals | 1,573 | 479 | 183 | 296 | ||||||||||||
Total | $ | 30,499 | $ | 9,807 | $ | 1,052 | $ | 8,755 |
Nine months ended September 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 78,022 | $ | 23,652 | $ | 2,010 | $ | 21,642 | ||||||||
Real Estate Transactions | 8 | 4 | 2 | 2 | ||||||||||||
Services and Rentals | 3,862 | 1,673 | 691 | 982 | ||||||||||||
Total | $ | 81,892 | $ | 25,329 | $ | 2,703 | $ | 22,626 |
Nine months ended September 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income (Loss) | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 76,227 | $ | 19,722 | $ | 580 | $ | 19,142 | ||||||||
Real Estate Transactions | 6 | (9 | ) | (360 | ) | 351 | ||||||||||
Services and Rentals | 4,398 | 1,674 | 634 | 1,040 | ||||||||||||
Total | $ | 80,631 | $ | 21,387 | $ | 854 | $ | 20,533 |
September 30, 2016 | December 31, 2015 | ||||||
Total Plant and Other Investments: | |||||||
Water Operations | $ | 591,682 | $ | 553,773 | |||
Non-Water | 960 | 637 | |||||
592,642 | 554,410 | ||||||
Other Assets: | |||||||
Water Operations | 174,115 | 154,090 | |||||
Non-Water | 3,069 | 2,215 | |||||
177,184 | 156,305 | ||||||
Total Assets | $ | 769,826 | $ | 710,715 |
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Income Taxes |
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Lines of Credit |
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Three Months | Nine Months | ||||||||||||||
Period ended September 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 474 | $ | 538 | $ | 1,421 | $ | 1,614 | |||||||
Interest Cost | 803 | 778 | 2,409 | 2,335 | |||||||||||
Expected Return on Plan Assets | (1,020 | ) | (961 | ) | (3,060 | ) | (2,885 | ) | |||||||
Amortization of: | |||||||||||||||
Prior Service Cost | 4 | 4 | 12 | 12 | |||||||||||
Net Recognized Loss | 512 | 744 | 1,537 | 2,234 | |||||||||||
Net Periodic Benefit Cost | $ | 773 | $ | 1,103 | $ | 2,319 | $ | 3,310 |
Three Months | Nine Months | ||||||||||||||
Period ended September 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 94 | $ | 114 | $ | 282 | $ | 343 | |||||||
Interest Cost | 135 | 141 | 406 | 423 | |||||||||||
Expected Return on Plan Assets | (86 | ) | (81 | ) | (256 | ) | (243 | ) | |||||||
Other | 57 | 57 | 169 | 169 | |||||||||||
Amortization of: | |||||||||||||||
Prior Service Credit | (100 | ) | (142 | ) | (300 | ) | (428 | ) | |||||||
Recognized Net Loss | 8 | 97 | 27 | 290 | |||||||||||
Net Periodic Benefit Cost | $ | 108 | $ | 186 | $ | 328 | $ | 554 |
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Three months ended September 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 187 | $ | (1,057 | ) | $ | (870 | ) | ||||
Other Comprehensive Income Before Reclassification | 46 | — | 46 | |||||||||
Amounts Reclassified from AOCI | — | 39 | 39 | |||||||||
Net current-period Other Comprehensive Income | 46 | 39 | 85 | |||||||||
Ending Balance | $ | 233 | $ | (1,018 | ) | $ | (785 | ) | ||||
Three months ended September 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 250 | $ | (1,832 | ) | $ | (1,582 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (70 | ) | — | (70 | ) | |||||||
Amounts Reclassified from AOCI | — | 48 | 48 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (70 | ) | 48 | (22 | ) | |||||||
Ending Balance | $ | 180 | $ | (1,784 | ) | $ | (1,604 | ) | ||||
Nine months ended September 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 200 | $ | (1,135 | ) | $ | (935 | ) | ||||
Other Comprehensive Income Before Reclassification | 23 | — | 23 | |||||||||
Amounts Reclassified from AOCI | 10 | 117 | 127 | |||||||||
Net current-period Other Comprehensive Income | 33 | 117 | 150 | |||||||||
Ending Balance | $ | 233 | $ | (1,018 | ) | $ | (785 | ) | ||||
Nine months ended September 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 298 | $ | (1,901 | ) | $ | (1,603 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (193 | ) | (65 | ) | (258 | ) | ||||||
Amounts Reclassified from AOCI | 75 | 182 | 257 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (118 | ) | 117 | (1 | ) | |||||||
Ending Balance | $ | 180 | $ | (1,784 | ) | $ | (1,604 | ) | ||||
(a) All amounts shown are net of tax. Amounts in parentheses indicate loss. |
Details about Other AOCI Components | Amounts Reclassified from AOCI Three Months Ended September 30, 2016(a) | Amounts Reclassified from AOCI Three Months Ended September 30, 2015(a) | Affected Line Items on Income Statement | |||||||
Realized Gains on Investments | $ | — | $ | — | Other Income | |||||
Tax expense | — | — | Other Income | |||||||
— | — | |||||||||
Amortization of Recognized Net Gain from Defined Benefit Items | 64 | 79 | Other Income (b) | |||||||
Tax expense | (25 | ) | (31 | ) | Other Income | |||||
39 | 48 | |||||||||
Total Reclassifications for the period, net of tax | $ | 39 | $ | 48 | ||||||
Details about Other AOCI Components | Amounts Reclassified from AOCI Nine Months Ended September 30, 2016(a) | Amounts Reclassified from AOCI Nine Months Ended September 30, 2015(a) | Affected Line Items on Income Statement | |||||||
Realized Gains on Investments | $ | 17 | $ | 128 | Other Income | |||||
Tax expense | (7 | ) | (53 | ) | Other Income | |||||
10 | 75 | |||||||||
Amortization of Recognized Net Gain from Defined Benefit Items | 192 | 275 | Other Income (b) | |||||||
Tax expense | (75 | ) | (93 | ) | Other Income | |||||
117 | 182 | |||||||||
Total Reclassifications for the period, net of tax | $ | 127 | $ | 257 | ||||||
(a) Amounts in parentheses indicate loss/expense. | ||||||||||
(b) Included in computation of net periodic pension cost (see Note 2 for additional details). |
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2016 | 2015 | ||||||||
Connecticut Water Service, Inc.: | |||||||||
4.09% | Term Loan Note | $ | 13,700 | $ | 14,472 | ||||
The Connecticut Water Company: | |||||||||
Var. | 2004 Series Variable Rate, Due 2029 | 12,500 | 12,500 | ||||||
Var. | 2004 Series A, Due 2028 | 5,000 | 5,000 | ||||||
Var. | 2004 Series B, Due 2028 | 4,550 | 4,550 | ||||||
5.10% | 2009 A Series, Due 2039 | — | 19,930 | ||||||
5.00% | 2011 A Series, Due 2021 | 23,163 | 23,303 | ||||||
3.16% | CoBank Note Payable, Due 2020 | 8,000 | 8,000 | ||||||
3.51% | CoBank Note Payable, Due 2022 | 14,795 | 14,795 | ||||||
4.29% | CoBank Note Payable, Due 2028 | 17,020 | 17,020 | ||||||
4.72% | CoBank Note Payable, Due 2032 | 14,795 | 14,795 | ||||||
4.75% | CoBank Note Payable, Due 2033 | 14,550 | 14,550 | ||||||
4.36% | CoBank Note Payable, Due June 2036 | 30,000 | — | ||||||
4.04% | CoBank Note Payable, Due July 2036 | 19,930 | — | ||||||
Total The Connecticut Water Company | 164,303 | 134,443 | |||||||
The Maine Water Company: | |||||||||
8.95% | 1994 Series G, Due 2024 | 8,100 | 8,100 | ||||||
2.68% | 1999 Series J, Due 2019 | 254 | 339 | ||||||
0.00% | 2001 Series K, Due 2031 | 615 | 656 | ||||||
2.58% | 2002 Series L, Due 2022 | 68 | 75 | ||||||
1.53% | 2003 Series M, Due 2023 | 341 | 361 | ||||||
1.73% | 2004 Series N, Due 2024 | 371 | 401 | ||||||
0.00% | 2004 Series O, Due 2034 | 120 | 127 | ||||||
1.76% | 2006 Series P, Due 2026 | 391 | 411 | ||||||
1.57% | 2009 Series R, Due 2029 | 217 | 227 | ||||||
0.00% | 2009 Series S, Due 2029 | 582 | 628 | ||||||
0.00% | 2009 Series T, Due 2029 | 1,634 | 1,760 | ||||||
0.00% | 2012 Series U, Due 2042 | 154 | 160 | ||||||
1.00% | 2013 Series V, Due 2033 | 1,335 | 1,360 | ||||||
2.52% | CoBank Note Payable, Due 2017 | 1,965 | 1,965 | ||||||
4.24% | CoBank Note Payable, Due 2024 | 4,500 | 4,500 | ||||||
7.72% | Series L, Due 2018 | 2,250 | 2,250 | ||||||
2.40% | Series N, Due 2022 | 1,101 | 1,176 | ||||||
1.86% | Series O, Due 2025 | 790 | 830 | ||||||
2.23% | Series P, Due 2028 | 1,294 | 1,324 | ||||||
0.01% | Series Q, Due 2035 | 1,771 | 1,864 | ||||||
1.00% | Series R, Due 2025 | 2,250 | 2,488 | ||||||
Various | Various Capital Leases | 9 | 17 | ||||||
Total The Maine Water Company | 30,112 | 31,019 | |||||||
Add: Acquisition Fair Value Adjustment | 381 | 562 | |||||||
Less: Current Portion | (2,883 | ) | (2,842 | ) | |||||
Less: Unamortized Debt Issuance Expense | (5,458 | ) | (5,786 | ) | |||||
Total Long-Term Debt | $ | 200,155 | $ | 171,868 |
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Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Asset Type: | |||||||||||||||
Company Owned Life Insurance | $ | — | $ | 3,078 | $ | — | $ | 3,078 | |||||||
Money Market Fund | 69 | — | — | 69 | |||||||||||
Mutual Funds: | |||||||||||||||
Equity Funds (1) | 1,447 | — | — | 1,447 | |||||||||||
Fixed Income Funds (2) | 467 | — | — | 467 | |||||||||||
Total | $ | 1,983 | $ | 3,078 | $ | — | $ | 5,061 |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Asset Type: | |||||||||||||||
Company Owned Life Insurance | $ | — | $ | 2,909 | $ | — | $ | 2,909 | |||||||
Money Market Fund | 122 | — | — | 122 | |||||||||||
Mutual Funds: | |||||||||||||||
Equity Funds (1) | 1,441 | — | — | 1,441 | |||||||||||
Fixed Income Funds (2) | 485 | — | — | 485 | |||||||||||
Total | $ | 2,048 | $ | 2,909 | $ | — | $ | 4,957 |
(1) | Mutual funds consist primarily of equity securities and are presented on the Other Property and Investments line item of the Company’s Condensed Consolidated Balance Sheets. |
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Three months ended September 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 29,791 | $ | 10,529 | $ | 1,177 | $ | 9,352 | ||||||||
Real Estate Transactions | 8 | 4 | 2 | 2 | ||||||||||||
Services and Rentals | 1,419 | 573 | 392 | 181 | ||||||||||||
Total | $ | 31,218 | $ | 11,106 | $ | 1,571 | $ | 9,535 |
Three months ended September 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income (Loss) | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 28,920 | $ | 9,337 | $ | 1,229 | $ | 8,108 | ||||||||
Real Estate Transactions | 6 | (9 | ) | (360 | ) | 351 | ||||||||||
Services and Rentals | 1,573 | 479 | 183 | 296 | ||||||||||||
Total | $ | 30,499 | $ | 9,807 | $ | 1,052 | $ | 8,755 |
Nine months ended September 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 78,022 | $ | 23,652 | $ | 2,010 | $ | 21,642 | ||||||||
Real Estate Transactions | 8 | 4 | 2 | 2 | ||||||||||||
Services and Rentals | 3,862 | 1,673 | 691 | 982 | ||||||||||||
Total | $ | 81,892 | $ | 25,329 | $ | 2,703 | $ | 22,626 |
Nine months ended September 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income (Loss) | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 76,227 | $ | 19,722 | $ | 580 | $ | 19,142 | ||||||||
Real Estate Transactions | 6 | (9 | ) | (360 | ) | 351 | ||||||||||
Services and Rentals | 4,398 | 1,674 | 634 | 1,040 | ||||||||||||
Total | $ | 80,631 | $ | 21,387 | $ | 854 | $ | 20,533 |
September 30, 2016 | December 31, 2015 | ||||||
Total Plant and Other Investments: | |||||||
Water Operations | $ | 591,682 | $ | 553,773 | |||
Non-Water | 960 | 637 | |||||
592,642 | 554,410 | ||||||
Other Assets: | |||||||
Water Operations | 174,115 | 154,090 | |||||
Non-Water | 3,069 | 2,215 | |||||
177,184 | 156,305 | ||||||
Total Assets | $ | 769,826 | $ | 710,715 |
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