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INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
INCOME TAXES [Abstract] |
Components of Income Tax Expense |
Components of Income Tax Expense |  |
In thousands | For the Year Ended December 31, |
State income taxes |  | 2012 |  |  | 2011 |  |  | 2010 |
Current |  | $ | 145 |  |  | $ | 106 |  |  | $ | 127 |
Deferred |  |  | 1,312 |  |  |  | 994 |  |  |  | 984 |
Total state income tax expense |  | $ | 1,457 |  |  | $ | 1,100 |  |  | $ | 1,111 |
| For the Year Ended December 31, |
Federal income taxes |  |  | 2012 |  |  |  | 2011 |  |  |  | 2010 |
Current |  | $ | 1,795 |  |  | $ | --- |  |  | $ | 823 |
Deferred |  |  | 3,364 |  |  |  | 3,554 |  |  |  | 3,148 |
Total federal income tax expense |  | $ | 5,159 |  |  | $ | 3,554 |  |  | $ | 3,971 |
Reconciliation of Effective Tax Rate |
Reconciliation of effective tax rate:
| For the Year Ended December 31, |
In thousands |  | 2012 |  | 2012 |  | 2011 |  | 2011 |  | 2010 |  | 2010 |
|  | Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent |
Reconciliation of effective tax Rate |  |  |  |  |  |  |  |  |  |  |  |  |
Income before federal and state income taxes | $ | 16,460 | % | 100.0 | $ | 11,401 | % | 100.0 | $ | 12,702 | % | 100.0 |
Amount computed at statutory rate |  | 5,596 |  | 34.0 |  | 3,876 |  | 34.0 |  | 4,319 |  | 34.0 |
Reconciling items |  |  |  |  |  |  |  |  |  |  |  |  |
State income tax-net of federal tax benefit |  | 952 |  | 5.8 |  | 711 |  | 6.2 |  | 726 |  | 5.7 |
Other |  | 68 |  | 0.4 |  | 67 |  | 0.6 |  | 37 |  | 0.3 |
Total income tax expense and effective rate | $ | 6,616 | % | 40.2 | $ | 4,654 | % | 40.8 | $ | 5,082 | % | 40.0 |
Deferred Income Taxes | Deferred income taxes at December 31, 2012, 2011, and 2010 were comprised of the following:
|  | For the Year Ended December 31, |
In thousands |  | 2012 |  |  | 2011 |  |  | 2010 |
Deferred tax assets related to: |  |  |  |  |  |  |  |  |
Federal alternative minimum tax credit carry-forwards |  | $ | 5,031 |  |  | $ | 3,688 |  |  | $ | 3,775 |
Federal and state operating loss carry-forwards |  |  | 481 |  |  |  | 3,077 |  |  |  | 2,521 |
Bad debt allowance |  |  | 96 |  |  |  | 127 |  |  |  | 132 |
Valuation allowance |  |  | (57 | ) |  |  | (53 | ) |  |  | (45 | )
Stock options |  |  | 294 |  |  |  | 251 |  |  |  | --- |
Other |  |  | 326 |  |  |  | 344 |  |  |  | 196 |
Total deferred tax assets |  | $ | 6,171 |  |  | $ | 7,434 |  |  | $ | 6,579 |
Deferred tax liabilities related to: |  |  |  |  |  |  |  |  |  |  |  |
Property plant and equipment basis differences |  | $ | (51,687 | ) |  | $ | (48,681 | ) |  | $ | (43,767 | )
Expenses of rate proceedings |  |  | (53 | ) |  |  | (144 | ) |  |  | (18 | )
Property taxes |  |  | (496 | ) |  |  | (494 | ) |  |  | (470 | )
Other |  |  | (651 | ) |  |  | (619 | ) |  |  | (341 | )
Total deferred tax liabilities |  | $ | (52,887 | ) |  | $ | (49,938 | ) |  | $ | (44,596 | )
Net deferred tax liability |  | $ | (46,716 | ) |  | $ | (42,504 | ) |  | $ | (38,017 | )
Deferred taxes, which are classified into a net current and non-current balance, are presented in the balance sheet as follows: |
Current deferred tax liability |  | $ | (837 | ) |  | $ | (772 | ) |  | $ | (459 | )
Non-current deferred tax liability |  |  | (45,879 | ) |  |  | (41,732 | ) |  |  | (37,558 | )
Net deferred tax liability |  | $ | (46,716 | ) |  | $ | (42,504 | ) |  | $ | (38,017 | )
Schedule of Valuation Allowance |
Schedule of Valuation Allowance |  |  |  |
|  | Additions |  |
| Balance at Beginning Of Period | Charged to Costs and Expenses | Deductions | Balance at End of Period
In thousands |  |  |  |
Classification |  |  |  |
For the Year Ended December 31, 2012 Valuation allowance for deferred tax assets | $53 | $4 | --- | $57
For the Year Ended December 31, 2011 Valuation allowance for deferred tax assets | $45 | $8 | --- | $53
For the Year Ended December 31, 2010 Valuation allowance for deferred tax assets | $37 | $8 | --- | $45

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