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v3.25.2

DEBT AND FINANCING ARRANGEMENTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Details on Long Term Debt | Details on long-term debt at June 30, 2025, June 30, 2024 and December 31, 2024 are shown below.
(millions) |  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |  |  | 2024 |
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 |
5.99% Senior Notes, Due August 21, 2034 |  |  | 20.0 |  |  |  | — |  |  |  | 20.0 |
Unitil Energy First Mortgage Bonds: |  |  |  |  |  |  |  |  |
6.96% Senior Secured Notes, Due September 1, 2028 |  |  | 8.0 |  |  |  | 10.0 |  |  |  | 8.0 |
8.00% Senior Secured Notes, Due May 1, 2031 |  |  | 9.0 |  |  |  | 10.5 |  |  |  | 10.5 |
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 |
5.69% Senior Secured Notes, Due August 21, 2054 |  |  | 40.0 |  |  |  | — |  |  |  | 40.0 |
Fitchburg: |  |  |  |  |  |  |  |  |
3.52% Senior Notes, Due November 1, 2027 |  |  | 10.0 |  |  |  | 10.0 |  |  |  | 10.0 |
7.37% Senior Notes, Due January 15, 2029 |  |  | 4.8 |  |  |  | 6.0 |  |  |  | 6.0 |
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 |
5.70% Senior Notes, Due July 2, 2033 |  |  | 12.0 |  |  |  | 12.0 |  |  |  | 12.0 |
5.54% Senior Notes, Due August 21, 2034 |  |  | 12.5 |  |  |  | — |  |  |  | 12.5 |
3.78% Senior Notes, Due September 15, 2040 |  |  | 27.5 |  |  |  | 27.5 |  |  |  | 27.5 |
5.99% Senior Notes, Due August 21, 2044 |  |  | 12.5 |  |  |  | — |  |  |  | 12.5 |
4.32% Senior Notes, Due November 1, 2047 |  |  | 15.0 |  |  |  | 15.0 |  |  |  | 15.0 |
5.96% Senior Notes, Due July 2, 2053 |  |  | 13.0 |  |  |  | 13.0 |  |  |  | 13.0 |
Northern Utilities: |  |  |  |  |  |  |  |  |
3.52% Senior Notes, Due November 1, 2027 |  |  | 20.0 |  |  |  | 20.0 |  |  |  | 20.0 |
5.54% Senior Notes, Due August 21, 2034 |  |  | 25.0 |  |  |  | — |  |  |  | 25.0 |
7.72% Senior Notes, Due December 3, 2038 |  |  | 50.0 |  |  |  | 50.0 |  |  |  | 50.0 |
5.74% Senior Notes, Due August 21, 2039 |  |  | 15.0 |  |  |  | — |  |  |  | 15.0 |
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 |
5.74% Senior Notes, Due August 21, 2034 |  |  | 10.0 |  |  |  | — |  |  |  | 10.0 |
Unitil Realty Corp.: |  |  |  |  |  |  |  |  |
2.64% Senior Secured Notes, Due December 18, 2030 |  |  | 3.7 |  |  |  | 3.9 |  |  |  | 3.8 |
Total Long-Term Debt |  |  | 644.5 |  |  |  | 514.4 |  |  |  | 647.3 |
Less: Unamortized Debt Issuance Costs |  |  | 3.8 |  |  |  | 3.1 |  |  |  | 4.0 |
Total Long-Term Debt, net of Unamortized Debt Issuance Costs |  |  | 640.7 |  |  |  | 511.3 |  |  |  | 643.3 |
Less: Current Portion |  |  | 4.9 |  |  |  | 4.9 |  |  |  | 4.9 |
Total Long-term Debt, Less Current Portion |  | $ | 635.8 |  |  | $ | 506.4 |  |  | $ | 638.4 |
Fair Value of Long Term Debt |
(millions) |  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |  |  | 2024 |
Estimated Fair Value of Long-Term Debt |  | $ | 579.7 |  |  | $ | 462.7 |  |  | $ | 598.9 |
Borrowing Limits Amounts Outstanding and Amounts Available under Credit Facility |
|  | Revolving Credit Facility (millions) |
|  | June 30, |  |  | December 31, |
|  | 2025 |  |  | 2024 |  |  | 2024 |
Limit |  | $ | 275.0 |  |  | $ | 200.0 |  |  | $ | 200.0 |
Short-Term Borrowings Outstanding |  |  | 171.4 |  |  |  | 157.8 |  |  |  | 105.8 |
Available |  | $ | 103.6 |  |  | $ | 42.2 |  |  | $ | 94.2 |
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) |  | 2025 |  |  | 2024 |  |  | 2024 |
Operating Lease Obligations: |  |  |  |  |  |  |  |  |
Operating Lease Obligations (current portion) |  | $ | 1.7 |  |  | $ | 1.7 |  |  | $ | 1.8 |
Operating Lease Obligations (long-term portion) |  |  | 4.0 |  |  |  | 3.4 |  |  |  | 4.9 |
Total Operating Lease Obligations |  |  | 5.7 |  |  |  | 5.1 |  |  |  | 6.7 |
Capital Lease Obligations: |  |  |  |  |  |  |  |  |
Other Current Liabilities (current portion) |  |  | 0.1 |  |  |  | 0.1 |  |  |  | 0.1 |
Other Noncurrent Liabilities (long-term portion) |  |  | 0.3 |  |  |  | 0.3 |  |  |  | 0.4 |
Total Capital Lease Obligations |  |  | 0.4 |  |  |  | 0.4 |  |  |  | 0.5 |
Total Lease Obligations |  | $ | 6.1 |  |  | $ | 5.5 |  |  | $ | 7.2 |
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, 2025. The payments for operating leases consist of $1.7 million of current Operating Lease Obligations and $4.0 million of noncurrent Operating Lease Obligations on the Company’s Consolidated Balance Sheets as of June 30, 2025. The payments for capital leases consist of $0.1 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, 2025.
Lease Payments ($000’s) |  | Operating |  |  | Capital |
Year Ending December 31, |  | Leases |  |  | Leases |
Rest of 2025 |  | $ | 1,617 |  |  | $ | 123 |
2026 |  |  | 1,219 |  |  |  | 105 |
2027 |  |  | 1,533 |  |  |  | 131 |
2028 |  |  | 971 |  |  |  | 45 |
2029 |  |  | 641 |  |  |  | 22 |
2030 - 2034 |  |  | 409 |  |  |  | — |
Total Payments |  |  | 6,390 |  |  |  | 426 |
Less: Interest |  |  | 663 |  |  |  | 33 |
Amount of Lease Obligations Recorded on Consolidated Balance Sheets |  | $ | 5,727 |  |  | $ | 393 |

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