XML 72 R23.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Debt and Financing Arrangements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Fair Value of Long Term Debt |
Estimated Fair Value of Long-Term Debt (millions) |  | December 31, |
|  | 2014 |  |  | 2013 |
Estimated Fair Value of Long-Term Debt |  | $ | 380.6 |  |  | $ | 327.3 |
Details on Long Term Debt | Details on long-term debt at December 31, 2014 and 2013 are shown below:
Long-Term Debt (millions) |  | December 31, |
| 2014 |  |  | 2013 |
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 |  |  | 15.2 |  |  |  | 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 |
4.42% Senior Notes, Due October 15, 2044 |  |  | 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 |  |  | 1.7 |  |  |  | 2.3 |
Total Long-Term Debt |  |  | 332.9 |  |  |  | 287.3 |
Less: Current Portion |  |  | 4.0 |  |  |  | 2.5 |
Total Long-Term Debt, Less Current Portion |  | $ | 328.9 |  |  | $ | 284.8 |
Summary of Interest Expense and Interest Income | A summary of interest expense and interest income is provided in the following table:
Interest Expense, net (millions) |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Interest Expense |  |  |  |  |  |  |  |  |  |  |  |
Long-Term Debt |  | $ | 20.5 |  |  | $ | 20.2 |  |  | $ | 20.3 |
Short-Term Debt |  |  | 1.1 |  |  |  | 1.2 |  |  |  | 1.5 |
Regulatory Liabilities |  |  | 0.6 |  |  |  | 0.6 |  |  |  | 0.5 |
Subtotal Interest Expense |  |  | 22.2 |  |  |  | 22.0 |  |  |  | 22.3 |
Interest Income |  |  |  |  |  |  |  |  |  |  |  |
Regulatory Assets |  |  | (0.6 | ) |  |  | (2.3 | ) |  |  | (3.4 | )
AFUDC(1) and Other |  |  | (0.7 | ) |  |  | (0.9 | ) |  |  | (0.8 | )
Subtotal Interest Income |  |  | (1.3 | ) |  |  | (3.2 | ) |  |  | (4.2 | )
Total Interest Expense, net |  | $ | 20.9 |  |  | $ | 18.8 |  |  | $ | 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, 2014 and December 31, 2013:
Revolving Credit Facility (millions) |
|  | December 31, |
|  | 2014 |  |  | 2013 |
Limit |  | $ | 120.0 |  |  | $ | 120.0 |
Outstanding |  | $ | 29.3 |  |  | $ | 60.2 |
Available |  | $ | 90.7 |  |  | $ | 59.8 |
Future Operating Lease Payment Obligations and Future Minimum Lease Payments under Capital Leases | The following table is a schedule of future operating lease payment obligations and future minimum lease payments under capital leases as of December 31, 2014. The payments for capital leases consist of $0.4 million included in Other Current Liabilities and $7.5 million of noncurrent Capital Lease Obligations on the Company’s Consolidated Balance Sheets as of December 31, 2014. The $7.5 million of noncurrent Capital Lease Obligations includes $6.9 million under a master lease agreement for the financing of the construction and installation of a customer information system, including software and equipment, with a maximum availability of $15 million. The customer information system is expected to be placed in service at the end of 2015 at which point the final term of the lease will be determined.
Year Ending December 31, (000’s) |  | Operating Leases |  |  | Capital Leases |
2015 |  | $ | 1,277 |  |  | $ | 471 |
2016 |  |  | 1,090 |  |  |  | 7,256 |
2017 |  |  | 810 |  |  |  | 154 |
2018 |  |  | 460 |  |  |  | 39 |
2019 |  |  | 123 |  |  |  | 3 |
2020 – 2024 |  |  | 75 |  |  |  | — |
Total Payments |  | $ | 3,835 |  |  | $ | 7,923 |

X
- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
Name: | us-gaap_InterestIncomeAndInterestExpenseDisclosureTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Future Minimum Payments For Obligations Table [Text Block] + References No definition available. + Details
Name: | utl_ScheduleOfFutureMinimumPaymentsForObligationsTableTextBlock
Namespace Prefix: | utl_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration