XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Fair Value of Financial Assets and Liabilities | 6 Months Ended
--- | ---
Jun. 30, 2020
Fair Value Disclosures [Abstract] |
Fair Value of Financial Assets and Liabilities | Fair Value of Financial Assets and Liabilities The accounting guidance for fair value measurements and disclosures provides a single definition of fair value and requires certain disclosures about assets and liabilities measured at fair value. A hierarchical framework for disclosing the observability of the inputs utilized in measuring assets and liabilities at fair value is established by this guidance. The three levels in the hierarchy are as follows: Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2 - Inputs to the valuation methodology include: •Quoted market prices for similar assets or liabilities in active markets; •Quoted prices for identical or similar assets or liabilities in inactive markets; •Inputs other than quoted prices that are observable for the asset or liability; and •Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Specific valuation methods include the following: Accounts receivable and accounts payable carrying amounts approximated the fair value because of the short-term maturity of the instruments. Long-term debt fair values were estimated using the published quoted market price, if available, or the discounted cash flow analysis, based on the current rates available using a risk-free rate (a U.S. Treasury securities yield curve) plus a risk premium of 1.83%. Advances for construction fair values were estimated using broker quotes from companies that frequently purchase these investments.
| June 30, 2020 |  |  |  |  |  |  |  |
|  |  | Fair Value |  |  |  |  |  |
| Cost |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Long-term debt, including current maturities, net | $ | 807,129 |  |  | — |  |  | $ | 979,858 |  |  | — |  |  | $ | 979,858 |
Advances for construction | 195,056 |  |  | — |  |  | 82,041 |  |  | — |  |  | 82,041 |
Total | $ | 1,002,185 |  |  | $ | — |  |  | $ | 1,061,899 |  |  | $ | — |  |  | $ | 1,061,899 |
| December 31, 2019 |  |  |  |  |  |  |  |
|  |  | Fair Value |  |  |  |  |  |
| Cost |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Long-term debt, including current maturities, net | $ | 808,622 |  |  | $ | — |  |  | $ | 873,454 |  |  | $ | — |  |  | $ | 873,454 |
Advances for construction | 191,062 |  |  | — |  |  | 79,550 |  |  | — |  |  | 79,550 |
Total | $ | 999,684 |  |  | — |  |  | $ | 953,004 |  |  | $ | — |  |  | $ | 953,004 |

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration