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ACCOUNTS RECEIVABLE | 9 Months Ended
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Sep. 30, 2022
ACCOUNTS RECEIVABLE [Abstract] |
ACCOUNTS RECEIVABLE | NOTE 4 – ACCOUNTS RECEIVABLE Accounts receivable are recorded at the invoiced amounts. As set forth in a settlement agreement, Artesian Water will receive reimbursements from the Delaware Sand and Gravel Remedial Trust, or Trust, for Artesian Water’s past capital and operating costs, totaling approximately $10.0 million, related to the treatment costs associated with the release of contaminants from the Delaware Sand & Gravel Landfill Superfund Site, or Site, in groundwater that Artesian Water uses for public potable water supply. Approximately $2.5 million was paid in August 2022. The remaining $7.5 million is due in three equal installments no later than August of each year from 2023 through 2025. An allowance for doubtful accounts is calculated as a percentage of total associated revenues based upon historical trends and adjusted for current conditions. We mitigate our exposure to credit losses by discontinuing services in the event of non-payment; accordingly, the related allowance for doubtful accounts and associated bad debt expense has not been significant. The following table summarizes the changes in the Company’s accounts receivable balance:
|  | September 30, |  |  | December 31, |
In thousands |  | 2022 |  |  | 2021 |
Customer accounts receivable – water |  | $ | 7,110 |  |  | $ | 5,986 |
Customer accounts receivable – wastewater |  |  | 470 |  |  |  | 1,326 |
Settlement agreement receivable |  |  | 7,510 |  |  |  | — |
Miscellaneous accounts receivable |  |  | 329 |  |  |  | 202 |
Developer receivable |  |  | 1,778 |  |  |  | 1,282 |
|  |  | 17,197 |  |  |  | 8,796 |
Less: Long-term portion of settlement agreement receivable (included in other deferred assets) |  |  | 4,991 |  |  |  | — |
Less allowance for doubtful accounts |  |  | 486 |  |  |  | 429 |
Net accounts receivable |  | $ | 11,720 |  |  | $ | 8,367 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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