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DEBT AND FINANCING ARRANGEMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Details on Long Term Debt

Details on long-term debt at March 31, 2022, March 31, 2021 and December 31, 2021 are shown in the following table:

($ millions)		March 31,								December 31,
		2022				2021				2021
Unitil Corporation:
6.33% Senior Notes, Due May 1, 2022		$	—			$	9.0			$	—
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				30.0
Unitil Energy First Mortgage Bonds:
8.49% Senior Secured Notes, Due October 14, 2024			1.5				3.0				1.5
6.96% Senior Secured Notes, Due September 1, 2028			14.0				16.0				14.0
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
3.58% Senior Secured Notes, Due September 15, 2040			27.5				27.5				27.5
4.18% Senior Secured Notes, Due November 30, 2048			30.0				30.0				30.0
Fitchburg:
6.75% Senior Notes, Due November 30, 2023			—				1.9				—
6.79% Senior Notes, Due October 15, 2025			6.0				10.0				6.0
3.52% Senior Notes, Due November 1, 2027			10.0				10.0				10.0
7.37% Senior Notes, Due January 15, 2029			8.4				9.6				9.6
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
3.78% Senior Notes, Due September 15, 2040			27.5				27.5				27.5
4.32% Senior Notes, Due November 1, 2047			15.0				15.0				15.0
Northern Utilities:
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
3.78% Senior Notes, Due September 15, 2040			40.0				40.0				40.0
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				40.0
Granite State:
3.72% Senior Notes, Due November 1, 2027			15.0				15.0				15.0
Unitil Realty Corp.:
2.64% Senior Secured Notes, Due December 18, 2030			4.4				4.7				4.5
Total Long-Term Debt			508.3				528.2				509.6
Less: Unamortized Debt Issuance Costs			3.5				3.9				3.6
Total Long-Term Debt, net of Unamortized Debt Issuance Costs			504.8				524.3				506.0
Less: Current Portion			8.2				8.5				8.2
Total Long-term Debt, Less Current Portion		$	496.6			$	515.8			$	497.8

Fair Value of Long Term Debt

($ millions)		March 31,								December 31,
		2022				2021				2021
Estimated Fair Value of Long-Term Debt		$	524.8			$	581.0			$	584.9

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 March 31 2022, March 31, 2021 and December 31, 2021:

		Revolving Credit Facility ($ millions)
		March 31,								December 31,
		2022				2021				2021
Limit		$	120.0			$	120.0			$	120.0
Short-Term Borrowings Outstanding			64.0				37.3				64.1
Available		$	56.0			$	82.7			$	55.9

Classification of the Company Lease Obligations

The balance sheet classification of the Company’s lease obligations was as follows:

		March 31,								December 31,
Lease Obligations ($ millions)		2022				2021				2021
Operating Lease Obligations:
Other Current Liabilities (current portion)		$	1.6			$	1.6			$	1.6
Other Noncurrent Liabilities (long-term portion)			3.2				3.8				3.1
Total Operating Lease Obligations		$	4.8			$	5.4			$	4.7
Capital Lease Obligations:
Other Current Liabilities (current portion)		$	0.1			$	0.2			$	0.1
Other Noncurrent Liabilities (long-term portion)			0.2				0.3				0.2
Total Capital Lease Obligations		$	0.3			$	0.5			$	0.3
Total Lease Obligations		$	5.1			$	5.9			$	5.0

Cash paid for amounts included in the measurement of operating lease obligations for the three months ended March 31, 2022 and March 31, 2021 was $0.5 million and $0.5 million, respectively, and was included in Cash Provided by Operating Activities on the Consolidated Statements of Cash Flows.

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 March 31, 2022. The payments for operating leases consist of $1.6 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 March 31, 2022. The payments for capital leases consist of $0.1 million of current capital lease obligations, which are included in Other Current Liabilities and $0.2 million of noncurrent capital lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of March 31, 2022.

Lease Payments ($000’s) Year Ending December 31,		Operating Leases				Capital Leases
Rest of 2022		$	1,340			$	111
2023			1,515				107
2024			1,186				52
2025			620				19
2026			316				—
2027-2031			121				—
Total Payments			5,098				289
Less: Interest			297				10
Amount of Lease Obligations Recorded on Consolidated Balance Sheets		$	4,801			$	279

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