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1. | Basis of Preparation of Financials |
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2. | Pension and Other Post-Retirement Benefits |
Three Months | Six Months | ||||||||||||||
Period ended June 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 426 | $ | 506 | $ | 947 | $ | 1,076 | |||||||
Interest Cost | 812 | 786 | 1,606 | 1,557 | |||||||||||
Expected Return on Plan Assets | (1,061 | ) | (958 | ) | (2,040 | ) | (1,924 | ) | |||||||
Amortization of: | |||||||||||||||
Prior Service Cost | 4 | 4 | 8 | 8 | |||||||||||
Net Recognized Loss | 514 | 799 | 1,025 | 1,490 | |||||||||||
Net Periodic Benefit Cost | $ | 695 | $ | 1,137 | $ | 1,546 | $ | 2,207 |
Three Months | Six Months | ||||||||||||||
Period ended June 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 85 | $ | 77 | $ | 188 | $ | 229 | |||||||
Interest Cost | 135 | 135 | 271 | 282 | |||||||||||
Expected Return on Plan Assets | (85 | ) | (81 | ) | (170 | ) | (162 | ) | |||||||
Other | 56 | 56 | 112 | 112 | |||||||||||
Amortization of: | |||||||||||||||
Prior Service Credit | (100 | ) | (144 | ) | (200 | ) | (286 | ) | |||||||
Recognized Net Loss | 11 | 83 | 19 | 193 | |||||||||||
Net Periodic Benefit Cost | $ | 102 | $ | 126 | $ | 220 | $ | 368 |
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4. | Recently Adopted and New Accounting Pronouncements |
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5. | Accumulated Other Comprehensive Income |
Three months ended June 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 185 | $ | (1,100 | ) | $ | (915 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (8 | ) | — | (8 | ) | |||||||
Amounts Reclassified from AOCI | 10 | 43 | 53 | |||||||||
Net current-period Other Comprehensive (Loss) Income | 2 | 43 | 45 | |||||||||
Ending Balance | $ | 187 | $ | (1,057 | ) | $ | (870 | ) | ||||
Three months ended June 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 312 | $ | (1,804 | ) | $ | (1,492 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (137 | ) | (65 | ) | (202 | ) | ||||||
Amounts Reclassified from AOCI | 75 | 37 | 112 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (62 | ) | (28 | ) | (90 | ) | ||||||
Ending Balance | $ | 250 | $ | (1,832 | ) | $ | (1,582 | ) | ||||
Six months ended June 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 200 | $ | (1,135 | ) | $ | (935 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (23 | ) | — | (23 | ) | |||||||
Amounts Reclassified from AOCI | 10 | 78 | 88 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (13 | ) | 78 | 65 | ||||||||
Ending Balance | $ | 187 | $ | (1,057 | ) | $ | (870 | ) | ||||
Six months ended June 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 298 | $ | (1,901 | ) | $ | (1,603 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (123 | ) | (65 | ) | (188 | ) | ||||||
Amounts Reclassified from AOCI | 75 | 134 | 209 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (48 | ) | 69 | 21 | ||||||||
Ending Balance | $ | 250 | $ | (1,832 | ) | $ | (1,582 | ) | ||||
(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 June 30, 2016(a) | Amounts Reclassified from AOCI Three Months Ended June 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 | 71 | 61 | Other Income (b) | |||||||
Tax expense | (28 | ) | (24 | ) | Other Income | |||||
43 | 37 | |||||||||
Total Reclassifications for the period, net of tax | $ | 53 | $ | 112 | ||||||
Details about Other AOCI Components | Amounts Reclassified from AOCI Six Months Ended June 30, 2016(a) | Amounts Reclassified from AOCI Six Months Ended June 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 | 128 | 196 | Other Income (b) | |||||||
Tax expense | (50 | ) | (62 | ) | Other Income | |||||
78 | 134 | |||||||||
Total Reclassifications for the period, net of tax | $ | 88 | $ | 209 | ||||||
(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 | $ | 13,960 | $ | 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 | 19,930 | ||||||
5.00% | 2011 A Series, Due 2021 | 23,210 | 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 2036 | 30,000 | — | ||||||
Total The Connecticut Water Company | 164,350 | 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 | 401 | 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 | 605 | 628 | ||||||
0.00% | 2009 Series T, Due 2029 | 1,697 | 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 | 830 | 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 | 2,488 | 2,488 | ||||||
Various | Various Capital Leases | 12 | 17 | ||||||
Total The Maine Water Company | 30,509 | 31,019 | |||||||
Add: Acquisition Fair Value Adjustment | 442 | 562 | |||||||
Less: Current Portion | (2,862 | ) | (2,842 | ) | |||||
Less: Unamortized Debt Issuance Expense | (5,538 | ) | (5,786 | ) | |||||
Total Long-Term Debt | $ | 200,861 | $ | 171,868 |
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Fair Value Disclosures |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Asset Type: | |||||||||||||||
Company Owned Life Insurance | $ | — | $ | 2,989 | $ | — | $ | 2,989 | |||||||
Money Market Fund | 123 | — | — | 123 | |||||||||||
Mutual Funds: | |||||||||||||||
Equity Funds (1) | 1,364 | — | — | 1,364 | |||||||||||
Fixed Income Funds (2) | 469 | — | — | 469 | |||||||||||
Total | $ | 1,956 | $ | 2,989 | $ | — | $ | 4,945 |
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 June 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 26,376 | $ | 10,173 | $ | 636 | $ | 9,537 | ||||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 1,212 | 563 | 157 | 406 | ||||||||||||
Total | $ | 27,588 | $ | 10,736 | $ | 793 | $ | 9,943 |
Three months ended June 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 26,967 | $ | 8,698 | $ | 398 | $ | 8,300 | ||||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 1,463 | 566 | 191 | 375 | ||||||||||||
Total | $ | 28,430 | $ | 9,264 | $ | 589 | $ | 8,675 |
Six months ended June 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 48,231 | $ | 13,123 | $ | 833 | $ | 12,290 | ||||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 2,443 | 1,100 | 299 | 801 | ||||||||||||
Total | $ | 50,674 | $ | 14,223 | $ | 1,132 | $ | 13,091 |
Six months ended June 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 47,307 | $ | 10,385 | $ | (649 | ) | $ | 11,034 | |||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 2,825 | 1,195 | 451 | 744 | ||||||||||||
Total | $ | 50,132 | $ | 11,580 | $ | (198 | ) | $ | 11,778 |
June 30, 2016 | December 31, 2015 | ||||||
Total Plant and Other Investments: | |||||||
Water Operations | $ | 576,175 | $ | 553,773 | |||
Non-Water | 962 | 637 | |||||
577,137 | 554,410 | ||||||
Other Assets: | |||||||
Water Operations | 164,204 | 154,090 | |||||
Non-Water | 3,900 | 2,215 | |||||
168,104 | 156,305 | ||||||
Total Assets | $ | 745,241 | $ | 710,715 |
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Income Taxes |
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Lines of Credit |
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Three Months | Six Months | ||||||||||||||
Period ended June 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 426 | $ | 506 | $ | 947 | $ | 1,076 | |||||||
Interest Cost | 812 | 786 | 1,606 | 1,557 | |||||||||||
Expected Return on Plan Assets | (1,061 | ) | (958 | ) | (2,040 | ) | (1,924 | ) | |||||||
Amortization of: | |||||||||||||||
Prior Service Cost | 4 | 4 | 8 | 8 | |||||||||||
Net Recognized Loss | 514 | 799 | 1,025 | 1,490 | |||||||||||
Net Periodic Benefit Cost | $ | 695 | $ | 1,137 | $ | 1,546 | $ | 2,207 |
Three Months | Six Months | ||||||||||||||
Period ended June 30, | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service Cost | $ | 85 | $ | 77 | $ | 188 | $ | 229 | |||||||
Interest Cost | 135 | 135 | 271 | 282 | |||||||||||
Expected Return on Plan Assets | (85 | ) | (81 | ) | (170 | ) | (162 | ) | |||||||
Other | 56 | 56 | 112 | 112 | |||||||||||
Amortization of: | |||||||||||||||
Prior Service Credit | (100 | ) | (144 | ) | (200 | ) | (286 | ) | |||||||
Recognized Net Loss | 11 | 83 | 19 | 193 | |||||||||||
Net Periodic Benefit Cost | $ | 102 | $ | 126 | $ | 220 | $ | 368 |
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Three months ended June 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 185 | $ | (1,100 | ) | $ | (915 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (8 | ) | — | (8 | ) | |||||||
Amounts Reclassified from AOCI | 10 | 43 | 53 | |||||||||
Net current-period Other Comprehensive (Loss) Income | 2 | 43 | 45 | |||||||||
Ending Balance | $ | 187 | $ | (1,057 | ) | $ | (870 | ) | ||||
Three months ended June 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 312 | $ | (1,804 | ) | $ | (1,492 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (137 | ) | (65 | ) | (202 | ) | ||||||
Amounts Reclassified from AOCI | 75 | 37 | 112 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (62 | ) | (28 | ) | (90 | ) | ||||||
Ending Balance | $ | 250 | $ | (1,832 | ) | $ | (1,582 | ) | ||||
Six months ended June 30, 2016 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 200 | $ | (1,135 | ) | $ | (935 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (23 | ) | — | (23 | ) | |||||||
Amounts Reclassified from AOCI | 10 | 78 | 88 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (13 | ) | 78 | 65 | ||||||||
Ending Balance | $ | 187 | $ | (1,057 | ) | $ | (870 | ) | ||||
Six months ended June 30, 2015 | Unrealized Gains on Investments | Defined Benefit Items | Total | |||||||||
Beginning Balance (a) | $ | 298 | $ | (1,901 | ) | $ | (1,603 | ) | ||||
Other Comprehensive (Loss) Income Before Reclassification | (123 | ) | (65 | ) | (188 | ) | ||||||
Amounts Reclassified from AOCI | 75 | 134 | 209 | |||||||||
Net current-period Other Comprehensive (Loss) Income | (48 | ) | 69 | 21 | ||||||||
Ending Balance | $ | 250 | $ | (1,832 | ) | $ | (1,582 | ) | ||||
(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 June 30, 2016(a) | Amounts Reclassified from AOCI Three Months Ended June 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 | 71 | 61 | Other Income (b) | |||||||
Tax expense | (28 | ) | (24 | ) | Other Income | |||||
43 | 37 | |||||||||
Total Reclassifications for the period, net of tax | $ | 53 | $ | 112 | ||||||
Details about Other AOCI Components | Amounts Reclassified from AOCI Six Months Ended June 30, 2016(a) | Amounts Reclassified from AOCI Six Months Ended June 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 | 128 | 196 | Other Income (b) | |||||||
Tax expense | (50 | ) | (62 | ) | Other Income | |||||
78 | 134 | |||||||||
Total Reclassifications for the period, net of tax | $ | 88 | $ | 209 | ||||||
(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 | $ | 13,960 | $ | 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 | 19,930 | ||||||
5.00% | 2011 A Series, Due 2021 | 23,210 | 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 2036 | 30,000 | — | ||||||
Total The Connecticut Water Company | 164,350 | 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 | 401 | 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 | 605 | 628 | ||||||
0.00% | 2009 Series T, Due 2029 | 1,697 | 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 | 830 | 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 | 2,488 | 2,488 | ||||||
Various | Various Capital Leases | 12 | 17 | ||||||
Total The Maine Water Company | 30,509 | 31,019 | |||||||
Add: Acquisition Fair Value Adjustment | 442 | 562 | |||||||
Less: Current Portion | (2,862 | ) | (2,842 | ) | |||||
Less: Unamortized Debt Issuance Expense | (5,538 | ) | (5,786 | ) | |||||
Total Long-Term Debt | $ | 200,861 | $ | 171,868 |
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Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Asset Type: | |||||||||||||||
Company Owned Life Insurance | $ | — | $ | 2,989 | $ | — | $ | 2,989 | |||||||
Money Market Fund | 123 | — | — | 123 | |||||||||||
Mutual Funds: | |||||||||||||||
Equity Funds (1) | 1,364 | — | — | 1,364 | |||||||||||
Fixed Income Funds (2) | 469 | — | — | 469 | |||||||||||
Total | $ | 1,956 | $ | 2,989 | $ | — | $ | 4,945 |
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 June 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 26,376 | $ | 10,173 | $ | 636 | $ | 9,537 | ||||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 1,212 | 563 | 157 | 406 | ||||||||||||
Total | $ | 27,588 | $ | 10,736 | $ | 793 | $ | 9,943 |
Three months ended June 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 26,967 | $ | 8,698 | $ | 398 | $ | 8,300 | ||||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 1,463 | 566 | 191 | 375 | ||||||||||||
Total | $ | 28,430 | $ | 9,264 | $ | 589 | $ | 8,675 |
Six months ended June 30, 2016 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense | Net Income | ||||||||||||
Water Operations | $ | 48,231 | $ | 13,123 | $ | 833 | $ | 12,290 | ||||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 2,443 | 1,100 | 299 | 801 | ||||||||||||
Total | $ | 50,674 | $ | 14,223 | $ | 1,132 | $ | 13,091 |
Six months ended June 30, 2015 | ||||||||||||||||
Segment | Revenues | Pre-Tax Income | Income Tax Expense(Benefit) | Net Income | ||||||||||||
Water Operations | $ | 47,307 | $ | 10,385 | $ | (649 | ) | $ | 11,034 | |||||||
Real Estate Transactions | — | — | — | — | ||||||||||||
Services and Rentals | 2,825 | 1,195 | 451 | 744 | ||||||||||||
Total | $ | 50,132 | $ | 11,580 | $ | (198 | ) | $ | 11,778 |
June 30, 2016 | December 31, 2015 | ||||||
Total Plant and Other Investments: | |||||||
Water Operations | $ | 576,175 | $ | 553,773 | |||
Non-Water | 962 | 637 | |||||
577,137 | 554,410 | ||||||
Other Assets: | |||||||
Water Operations | 164,204 | 154,090 | |||||
Non-Water | 3,900 | 2,215 | |||||
168,104 | 156,305 | ||||||
Total Assets | $ | 745,241 | $ | 710,715 |
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