XML 35 R21.htm IDEA: XBRL DOCUMENT
v3.20.2

DEBT AND FINANCING ARRANGEMENTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Details on Long Term Debt | Details on long-term debt at June 30, 2020, June 30, 2019 and December 31, 2019 are shown below:
($ millions) |  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 2019 |
Unitil Corporation: |  |  |  |  |  |  |  |  |  |  |  |
6.33% Senior Notes, Due May 1, 2022 |  | $ | 20.0 |  |  | $ | 20.0 |  |  | $ | 20.0 |
3.70% Senior Notes, Due August 1, 2026 |  |  | 30.0 |  |  |  | 30.0 |  |  |  | 30.0 |
3.43% Senior Notes, Due December 18, 2029 |  |  | 30.0 |  |  |  | — |  |  |  | 30.0 |
Unitil Energy First Mortgage Bonds: |  |  |  |  |  |  |  |  |  |  |  |
5.24% Senior Secured Notes, Due March 2, 2020 |  |  | — |  |  |  | 5.0 |  |  |  | 5.0 |
8.49% Senior Secured Notes, Due October 14, 2024 |  |  | 4.5 |  |  |  | 6.0 |  |  |  | 4.5 |
6.96% Senior Secured Notes, Due September 1, 2028 |  |  | 18.0 |  |  |  | 20.0 |  |  |  | 18.0 |
8.00% Senior Secured Notes, Due May 1, 2031 |  |  | 15.0 |  |  |  | 15.0 |  |  |  | 15.0 |
6.32% Senior Secured Notes, Due September 15, 2036 |  |  | 15.0 |  |  |  | 15.0 |  |  |  | 15.0 |
4.18% Senior Secured Notes, Due November 30, 2048 |  |  | 30.0 |  |  |  | 30.0 |  |  |  | 30.0 |
Fitchburg: |  |  |  |  |  |  |  |  |  |  |  |
6.75% Senior Notes, Due November 30, 2023 |  |  | 3.8 |  |  |  | 5.7 |  |  |  | 3.8 |
6.79% Senior Notes, Due October 15, 2025 |  |  | 10.0 |  |  |  | 10.0 |  |  |  | 10.0 |
3.52% Senior Notes, Due November 1, 2027 |  |  | 10.0 |  |  |  | 10.0 |  |  |  | 10.0 |
7.37% Senior Notes, Due January 15, 2029 |  |  | 10.8 |  |  |  | 12.0 |  |  |  | 12.0 |
5.90% Senior Notes, Due December 15, 2030 |  |  | 15.0 |  |  |  | 15.0 |  |  |  | 15.0 |
7.98% Senior Notes, Due June 1, 2031 |  |  | 14.0 |  |  |  | 14.0 |  |  |  | 14.0 |
4.32% Senior Notes, Due November 1, 2047 |  |  | 15.0 |  |  |  | 15.0 |  |  |  | 15.0 |
Northern Utilities: |  |  |  |  |  |  |  |  |  |  |  |
5.29% Senior Notes, Due March 2, 2020 |  |  | — |  |  |  | 8.2 |  |  |  | 8.2 |
3.52% Senior Notes, Due November 1, 2027 |  |  | 20.0 |  |  |  | 20.0 |  |  |  | 20.0 |
7.72% Senior Notes, Due December 3, 2038 |  |  | 50.0 |  |  |  | 50.0 |  |  |  | 50.0 |
4.42% Senior Notes, Due October 15, 2044 |  |  | 50.0 |  |  |  | 50.0 |  |  |  | 50.0 |
4.32% Senior Notes, Due November 1, 2047 |  |  | 30.0 |  |  |  | 30.0 |  |  |  | 30.0 |
4.04% Senior Notes, Due September 12, 2049 |  |  | 40.0 |  |  |  | — |  |  |  | 40.0 |
Granite State: |  |  |  |  |  |  |  |  |  |  |  |
3.72% Senior Notes, Due November 1, 2027 |  |  | 15.0 |  |  |  | 15.0 |  |  |  | 15.0 |
Total Long-Term Debt |  |  | 446.1 |  |  |  | 395.9 |  |  |  | 460.5 |
Less: Unamortized Debt Issuance Costs |  |  | 3.4 |  |  |  | 3.3 |  |  |  | 3.5 |
Total Long-Term Debt, net of Unamortized Debt Issuance Costs |  |  | 442.7 |  |  |  | 392.6 |  |  |  | 457.0 |
Less: Current Portion |  |  | 6.3 |  |  |  | 19.5 |  |  |  | 19.5 |
Total Long-term Debt, Less Current Portion |  | $ | 436.4 |  |  | $ | 373.1 |  |  | $ | 437.5 |
Fair Value of Long Term Debt |
($ millions) |  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 2019 |
Estimated Fair Value of Long-Term Debt |  | $ | 516.6 |  |  | $ | 430.6 |  |  | $ | 518.7 |
Borrowing Limits Amounts Outstanding and Amounts Available under Credit Facility | The following table details the borrowing limits, amounts outstanding and amounts available under the Credit Facility as of June 30 2020, June 30, 2019 and December 31, 2019:
|  | Revolving Credit Facility ($ millions) |
|  | June 30, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 2019 |
Limit |  | $ | 120.0 |  |  | $ | 120.0 |  |  | $ | 120.0 |
Short-Term Borrowings Outstanding |  |  | 74.9 |  |  |  | 64.8 |  |  |  | 58.6 |
Letter of Credit Outstanding |  |  | 0.1 |  |  |  | — |  |  |  | 0.1 |
Available |  | $ | 45.0 |  |  | $ | 55.2 |  |  | $ | 61.3 |
Classification of the Company Lease Obligations | The balance sheet classification of the Company’s lease obligations was as follows:
|  | June 30, |  |  | December 31, |
Lease Obligations ($ millions) |  | 2020 |  |  | 2019 |  |  | 2019 |
Operating Lease Obligations: |  |  |  |  |  |  |  |  |  |  |  |
Other Current Liabilities (current portion) |  | $ | 1.3 |  |  | $ | 1.0 |  |  | $ | 1.2 |
Other Noncurrent Liabilities (long-term portion) |  |  | 3.2 |  |  |  | 2.6 |  |  |  | 2.8 |
Total Operating Lease Obligations |  | $ | 4.5 |  |  | $ | 3.6 |  |  | $ | 4.0 |
Capital Lease Obligations: |  |  |  |  |  |  |  |  |  |  |  |
Other Current Liabilities (current portion) |  | $ | 0.2 |  |  | $ | 0.2 |  |  | $ | 0.2 |
Other Noncurrent Liabilities (long-term portion) |  |  | 0.3 |  |  |  | 0.2 |  |  |  | 0.3 |
Total Capital Lease Obligations |  | $ | 0.5 |  |  | $ | 0.4 |  |  | $ | 0.5 |
Total Lease Obligations |  | $ | 5.0 |  |  | $ | 4.0 |  |  | $ | 4.5 |
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 June 30, 2020. The payments for capital leases consist of $0.2 million of current capital lease obligations, which are included in Other Current Liabilities and $0.3 million of noncurrent capital lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of June 30, 2020. The payments for operating leases consist of $1.3 million of current operating lease obligations, which are included in Other Current Liabilities and $3.2 million of noncurrent operating lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of June 30, 2020.
Lease Payments ($000’s) |  | Operating |  |  | Capital |
Year Ending December 31, |  | Leases |  |  | Leases |
Rest of 2020 |  | $ | 795 |  |  | $ | 138 |
2021 |  |  | 1,448 |  |  |  | 194 |
2022 |  |  | 1,169 |  |  |  | 130 |
2023 |  |  | 873 |  |  |  | 88 |
2024 |  |  | 544 |  |  |  | 33 |
2025-2029 |  |  | 140 |  |  |  | — |
Total Payments |  |  | 4,969 |  |  |  | 583 |
Less: Interest |  |  | 436 |  |  |  | 34 |
Amount of Lease Obligations Recorded on Consolidated Balance Sheets |  | $ | 4,533 |  |  | $ | 549 |

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://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -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=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + 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 Capital Leases Obligations [Table Text Block] + References No definition available. + Details
Name: | utl_ScheduleOfCapitalLeasesObligationsTableTextBlock
Namespace Prefix: | utl_
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