XML 33 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2

DEBT AND FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Details on Long Term Debt

Details on long-term debt at September 30, 2022, September 30, 2021 and December 31, 2021 are shown below:

($ millions)		September 30,								December 31,
		2022				2021				2021
Unitil Corporation:
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			12.0				14.0				14.0
8.00% Senior Secured Notes, Due May 1, 2031			13.5				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:
6.79% 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			4.3				4.5				4.5
Total Long-Term Debt			504.7				515.1				509.6
Less: Unamortized Debt Issuance Costs			3.4				3.7				3.6
Total Long-Term Debt, net of Unamortized Debt Issuance Costs			501.3				511.4				506.0
Less: Current Portion			8.2				10.1				8.2
Total Long-term Debt, Less Current Portion		$	493.1			$	501.3			$	497.8

Fair Value of Long Term Debt

($ millions)		September 30,								December 31,
		2022				2021				2021
Estimated Fair Value of Long-Term Debt		$	458.3			$	598.2			$	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 September 30, 2022 and the prior credit facility as of September 31, 2021 and December 31,

		Revolving Credit Facility ($ millions)
		September 30,								December 31,
		2022				2021				2021
Limit		$	200.0			$	120.0			$	120.0
Short-Term Borrowings Outstanding			72.0				30.5				64.1
Available		$	128.0			$	89.5			$	55.9

Classification of the Company Lease Obligations

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

		September 30,								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)			3.0				3.5				3.1
Total Operating Lease Obligations		$	4.6			$	5.1			$	4.7
Capital Lease Obligations:
Other Current Liabilities (current portion)		$	0.1			$	0.2			$	0.1
Other Noncurrent Liabilities (long-term portion)			0.1				0.2				0.2
Total Capital Lease Obligations		$	0.2			$	0.4			$	0.3
Total Lease Obligations		$	4.8			$	5.5			$	5.0

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 September 30, 2022. The payments for operating leases consist of $1.6 million of current operating lease obligations, which are included in Other Current Liabilities and $3.0 million of noncurrent operating lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of September 30, 2022. The payments for capital leases consist of $0.1 million of current capital lease obligations, which are included in Other Current Liabilities and $0.1 million of noncurrent capital lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of September 30, 2022.

Lease Payments ($000’s) Year Ending December 31,		Operating Leases				Capital Leases
Rest of 2022		$	457			$	36
2023			1,655				114
2024			1,325				59
2025			759				26
2026			456				6
2027-2031			291				3
Total Payments			4,943				244
Less: Interest			329				9
Amount of Lease Obligations Recorded on Consolidated Balance Sheets		$	4,614			$	235

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:	dtr-types: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 https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Name:	us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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:	dtr-types: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:	dtr-types: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:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration