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Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Utility Plant $ 562,267 $ 512,993
Less accumulated depreciation (160,518) (153,614)
Net utility plant 401,749 359,379
Current Assets    
Cash and cash equivalents 10,220 9,047
Accounts receivable, net 3,830 3,233
Unbilled revenue 3,806 3,109
Taxes, prepaid expenses and other current assets 3,969 4,080
Total current assets 21,825 19,469
Other Assets    
Goodwill 6,282 9,486
Intangible assets, net 8,475 8,427
Regulatory assets 7,023 4,032
Restricted cash 2,156 2,109
Right-of-use assets, net 1,759 2,157
Other noncurrent assets 113 78
Total other assets 25,808 26,289
Total Assets 449,382 405,137
Capitalization    
Common stock, $0.01 par value, 60,000,000 shares authorized; 27,830,545 and 24,570,994 shares issued as of June 30, 2025 and December 31, 2024, respectively 273 240
Treasury stock, 357,268 and 344,978 shares at June 30, 2025 and December 31, 2024, respectively (2) (2)
Additional paid-in capital 76,469 47,366
Retained earnings 0 0
Total shareholders’ equity 76,740 47,604
Long-term debt, net 116,803 118,518
Total Capitalization 193,543 166,122
Current Liabilities    
Accounts payable 986 2,051
Customer and meter deposits 1,669 1,609
Long-term debt, current portion 3,940 3,926
Leases, current portion 892 871
Accrued expenses and other current liabilities 12,519 13,801
Total current liabilities 20,006 22,258
Other Liabilities    
Long-term lease liabilities 1,562 1,450
Deferred revenue - ICFA 22,449 21,517
Regulatory liabilities 5,360 5,386
Advances in aid of construction 145,854 126,467
Contributions in aid of construction, net 37,585 36,834
Deferred income tax liabilities, net 9,709 9,698
Other noncurrent liabilities 13,314 15,405
Total other liabilities 235,833 216,757
Commitments and contingencies (Refer to Note 16)
Total Capitalization and Liabilities $ 449,382 $ 405,137