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Long-Term Debt, Credit Arrangements, Leases and Guarantees (Tables)

12 Months Ended

Dec. 31, 2012

Estimated Fair Value of Long-Term Debt

(millions)		December 31,
		2012				2011
Estimated Fair Value of Long- Term Debt		$	349.7			$	338.7

Details on Long Term Debt

Details on long-term debt at December 31, 2012 and 2011 are shown below:

		December 31,
Long-Term Debt (millions)		2012				2011
Unitil Corporation Senior Notes:
6.33% Notes, Due May 1, 2022		$	20.0			$	20.0
Unitil Energy First Mortgage Bonds:
5.24% Series, Due March 2, 2020			15.0				15.0
8.49% Series, Due October 14, 2024			15.0				15.0
6.96% Series, Due September 1, 2028			20.0				20.0
8.00% Series, Due May 1, 2031			15.0				15.0
6.32% Series, Due September 15, 2036			15.0				15.0
Fitchburg Long-Term Notes:
6.75% Notes, Due November 30, 2023			19.0				19.0
7.37% Notes, Due January 15, 2029			12.0				12.0
7.98% Notes, Due June 1, 2031			14.0				14.0
6.79% Notes, Due October 15, 2025			10.0				10.0
5.90% Notes, Due December 15, 2030			15.0				15.0
Northern Utilities Senior Notes:
6.95% Senior Notes, Series A, Due December 3, 2018			30.0				30.0
5.29% Senior Notes, Due March 2, 2020			25.0				25.0
7.72% Senior Notes, Series B, Due December 3, 2038			50.0				50.0
Granite State Senior Notes:
7.15% Senior Notes, Due December 15, 2018			10.0				10.0
Unitil Realty Corp. Senior Secured Notes:
8.00% Notes, Due August 1, 2017			2.8				3.3
Total Long-Term Debt			287.8				288.3
Less: Current Portion			0.5				0.5
Total Long-Term Debt, Less Current Portion		$	287.3			$	287.8

Summary of Interest Expense and Interest Income

summary of interest expense and interest income is provided in the following table:

Interest Expense, net (millions)
		2012				2011				2010
Interest Expense
Long-term Debt		$	20.3			$	20.3			$	20.0
Short-term Debt			1.5				1.7				1.7
Regulatory Liabilities			0.5				—				0.3
Subtotal Interest Expense			22.3				22.0				22.0
Interest Income
Regulatory Assets			(3.4	)			(1.1	)			(3.5	)
AFUDC(1) and Other			(0.8	)			(0.5	)			(0.4	)
Subtotal Interest Income			(4.2	)			(1.6	)			(3.9	)
Total Interest Expense, net		$	18.1			$	20.4			$	18.1

⁽¹⁾  AFUDC—Allowance for Funds Used During Construction

Borrowing Limits, Amounts Outstanding and Amounts Available Under Revolving Credit Facility

The following table details the borrowing limits, amounts outstanding and amounts available under the revolving credit facility as of December 31, 2012 and December 31, 2011:

Revolving Credit Facility (millions)
		December 31,
		2012				2011
Limit		$	60.0			$	115.0
Outstanding		$	49.4			$	87.9
Available		$	10.6			$	27.1

Future Operating Lease Payment Obligations and Future Minimum Lease Payments under Capital Leases

The following is a schedule of future operating lease payment obligations and future minimum lease payments under capital leases as of December 31, 2012:

Year Ending December 31, (000’s)		Operating Leases				Capital Leases
2013		$	997			$	628
2014			804				300
2015			668				82
2016			479				—
2017			198				—
2018 – 2022			50				—
Total Payments		$	3,196			$	1,010

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