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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Significant Accounting Policies [Abstract]

Utility Plant

The following remaining lives are used for financial reporting purposes:

		December 31								Approximate range
Utility Plant Asset Category		2021				2020				of remaining lives
Mains and accessories		$	242,160			$	212,164			11 – 85 years
Services, meters and hydrants			87,164				80,590			17 – 51 years
Operations structures, reservoirs and water tanks			73,462				65,617			9 – 57 years
Pumping and treatment equipment			37,209				34,163			5 – 30 years
Office, transportation and operating equipment			16,856				15,520			2 – 21 years
Land and other non-depreciable assets			3,714				3,478				–
Utility plant in service			460,565				411,532
Construction work in progress			25,185				27,138				–
Total Utility Plant		$	485,750			$	438,670

Regulatory Assets and Liabilities

Regulatory assets and liabilities are comprised of the following:

		December 31								Remaining Recovery
		2021				2020				Periods
Assets
Income taxes		$	33,255			$	28,200			Various
Unrealized swap losses			2,054				2,700			1 – 8 years
Utility plant retirement costs			7,245				5,968			5 years
Customer-owned lead service line replacements			1,161				1,081			Various
Income taxes on customers’ advances for construction and contributions in aid of construction			1,545				1,815			Various
Service life study expenses			3				8			1 year
Rate case filing expenses			17				121			1 year
		$	45,280			$	39,893
Liabilities
Excess accumulated deferred income taxes on accelerated depreciation		$	13,644			$	13,826			Various
Postretirement benefits			11,870				25			Not yet known
Income taxes			8,314				8,706			Various
IRS TPR catch-up deduction			3,153				3,412			12 years
		$	36,981			$	25,969

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- Definition

Tabular disclosure of public utility physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, deprecation expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 980
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84167750&loc=d3e42232-110370

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13(b))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit.

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