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LEGAL PROCEEDINGS | 9 Months Ended
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Sep. 30, 2025
LEGAL PROCEEDINGS [Abstract] |
LEGAL PROCEEDINGS | NOTE 15 - LEGAL PROCEEDINGS Periodically, we are involved in other proceedings or litigation arising in the ordinary course of business. We do not believe that the ultimate resolution of these matters will materially affect our business, financial position or results of operations. However, we cannot ensure that we will prevail in any litigation and, regardless of the outcome, may incur significant litigation expense and may have significant diversion of management attention. Several of the water systems of Artesian Resources’ subsidiaries are claimants in four multi-district litigation, or MDL, class action settlements designed to resolve claims for per- and polyfluoroalkyl substances, or PFAS, contamination in Public Water Systems’ Drinking Water, as those terms are defined in the respective Agreements (the “Settlements”), which are with four groups of settling defendants on behalf of: (1) the 3M Company (“3M”); (2) E.I. Du Pont de Nemours and Company (n/k/a Eidp, Inc.), DuPont de Nemours Inc., The Chemours Company, The Chemours Company FC, LLC, and Corteva, Inc. (collectively, “DuPont”); (3) Tyco Fire Products LP and Chemguard, Inc. (collectively, “the Tyco Defendants”); and (4) BASF Corporation (“BASF”). Claims Forms have been submitted on behalf of Artesian Resources’ eligible systems in each of the Settlements. In October 2025, the Company received its first payment from 3M in the amount of $2.3 million with an anticipated total net settlement of approximately $12.6 million to be paid over 8 years. DuPont settlement payments to claimants began on or about October 15, 2025. Although the Company has not yet received its first payment, it expects to soon receive approximately $1.3 million, equal to approximately 95% of its total DuPont settlement award. The Company anticipates receiving the balance of the 3M settlement award, the Dupont settlement award and additional settlement payments from the other MDL lawsuit defendants. The current projected payment timeline for the Tyco Defendants and BASF settlements is December 2025; however, that timeline is heavily dependent on timely resolution of claim deficiencies by claimants and the outcome of the quality control review process. The settlement proceeds are intended to reimburse the Company for past and future capital investments or operations and maintenance expenses related to PFAS water contamination to its water systems. The DEPSC will review and approve the regulatory treatment for the settlement funds received to date as well as future settlement funds. It is expected that the funds will be returned to customers through regulatory mechanisms as determined by the DEPSC. On September 15, 2025, Artesian Water was served as a third-party defendant in a third-party complaint filed by Metra Industries, Inc., in the Superior Court of the State of Delaware. The litigation arises from a contractual dispute related to a water main renewal project and asserts a claim against us in the total amount of $3.4 million comprised mainly of $2.7 million in unabsorbed office overhead as well as $0.1 million in end-of-job direct costs and $0.6 million in change orders. While we plan to defend the claim vigorously, it is possible that we could incur a loss; however, any loss is not estimable at this time.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/450/tableOfContent + Details
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