CONNECTICUT WATER SERVICE INC / CT, 10-Q filed on 8/8/2014
Quarterly Report
Document and Entity Information
6 Months Ended
Jun. 30, 2014
Jul. 31, 2014
Entities [Table]
 
 
Entity Registrant Name
CONNECTICUT WATER SERVICE INC / CT 
 
Entity Central Index Key
0000276209 
 
Current Fiscal Year End Date
--12-31 
 
Entity Filer Category
Accelerated Filer 
 
Document Type
10-Q 
 
Document Period End Date
Jun. 30, 2014 
 
Document Fiscal Year Focus
2014 
 
Document Fiscal Period Focus
Q2 
 
Amendment Flag
false 
 
Entity Common Stock, Shares Outstanding
 
11,099,574 
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
ASSETS
 
 
Utility Plant
$ 653,429 
$ 639,704 
Construction Work in Progress
16,014 
12,066 
Gross Utility Plant
669,443 
651,770 
Accumulated Provision for Depreciation
(185,605)
(179,894)
Net Utility Plant
483,838 
471,876 
Other Property and Investments
7,752 
7,388 
Cash and Cash Equivalents
10,593 
18,371 
Accounts Receivable (Less Allowance, 2014 - $1,147; 2013 - $1,127)
12,132 
12,340 
Accrued Unbilled Revenues
8,595 
7,624 
Materials and Supplies
1,645 
1,633 
Prepayments and Other Current Assets
9,262 
6,928 
Total Current Assets
42,227 
46,896 
Restricted Cash
4,384 
5,777 
Unamortized Debt Issuance Expense
6,566 
6,841 
Unrecovered Income Taxes - Regulatory Asset
50,309 
47,135 
Pension Benefits - Regulatory Asset
2,585 
3,085 
Post-Retirement Benefits Other Than Pension - Regulatory Asset
1,433 
1,288 
Goodwill
31,685 
31,685 
Deferred Charges and Other Costs
9,736 
8,840 
Total Regulatory and Other Long-Term Assets
106,698 
104,651 
Total Assets
640,515 
630,811 
CAPITALIZATION AND LIABILITIES
 
 
Common Stock Without Par Value: Authorized - 25,000,000 Shares - Issued and Outstanding: 2014 - 11,097,506; 2013 - 11,038,232
139,826 
138,591 
Retained Earnings (Accumulated Deficit)
64,259 
59,277 
Accumulated Other Comprehensive Loss
45 
(115)
Common Stockholders' Equity
204,130 
197,753 
Preferred Stock
772 
772 
Long-Term Debt
173,916 
175,042 
Total Capitalization
378,818 
373,567 
Debt, Current
4,234 
4,121 
Accounts Payable and Accrued Expenses
9,249 
10,846 
Accrued Interest
741 
753 
Customer Refund Liability, Current
6,275 
4,650 
Other Current Liabilities
2,364 
2,359 
Total Current Liabilities
22,863 
22,729 
Advances for Construction
28,018 
28,718 
Deferred Federal and State Income Taxes
49,941 
47,470 
Unfunded Future Income Taxes
49,897 
46,723 
Long-Term Compensation Arrangements
22,059 
20,651 
Unamortized Investment Tax Credits
1,376 
1,414 
Refund to Customers - Regulatory Liability
4,650 
7,749 
Other Long-Term Liabilities
1,013 
1,018 
Total Long-Term Liabilities
156,954 
153,743 
Contributions in Aid of Construction
81,880 
80,772 
Commitments and Contingencies
0 
0 
Total Capitalization and Liabilities
$ 640,515 
$ 630,811 
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Issued
11,097,506 
11,038,232 
Outstanding
11,097,506 
11,038,232 
ASSETS
 
 
Allowance
$ 1,147 
$ 1,127 
Capitalization, Long-term Debt and Equity [Abstract]
 
 
Common Stock, No Par Value
$ 0 
$ 0 
Common Stock, Shares Authorized
25,000,000 
25,000,000 
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Income Statement [Abstract]
 
 
 
 
Operating Revenues
$ 25,459 
$ 22,545 
$ 45,719 
$ 42,274 
Operating Expenses
 
 
 
 
Operation and Maintenance
10,503 
10,357 
21,170 
20,735 
Depreciation
2,838 
2,600 
5,646 
5,304 
Income Taxes
1,840 
2,519 
2,334 
3,647 
Taxes Other Than Income Taxes
2,001 
1,810 
4,388 
3,970 
Total Operating Expenses
17,182 
17,286 
33,538 
33,656 
Net Operating Revenues
8,277 
5,259 
12,181 
8,618 
Other Utility Income, Net of Taxes
202 
179 
387 
385 
Total Utility Operating Income
8,479 
5,438 
12,568 
9,003 
Other Income (Deductions), Net of Taxes
 
 
 
 
Non-Water Sales Earnings
398 
376 
831 
762 
Allowance for Funds Used During Construction
169 
76 
267 
130 
Other
51 
(111)
69 
(172)
Total Other Income, Net of Taxes
618 
341 
1,167 
720 
Interest and Debt Expense
 
 
 
 
Interest on Long-Term Debt
1,768 
1,791 
3,519 
3,578 
Other Interest Charges
(164)
(157)
(322)
(700)
Amortization of Debt Expense
3 
(165)
62 
(78)
Total Interest and Debt Expense
1,607 
1,469 
3,259 
2,800 
Net Income
7,490 
4,310 
10,476 
6,923 
Preferred Stock Dividend Requirement
10 
10 
19 
19 
Net Income Applicable to Common Stock
$ 7,480 
$ 4,300 
$ 10,457 
$ 6,904 
Weighted Average Common Shares Outstanding:
 
 
 
 
Basic (in shares)
10,886,883 
10,818,883 
10,877,883 
10,811,100 
Diluted (in shares)
11,085,061 
10,988,813 
11,073,258 
10,976,812 
Earnings Per Common Share:
 
 
 
 
Basic (in dollars per share)
$ 0.69 
$ 0.40 
$ 0.96 
$ 0.64 
Diluted (in dollars per share)
$ 0.67 
$ 0.39 
$ 0.94 
$ 0.63 
Dividends Per Common Share (in dollars per share)
$ 0.2475 
$ 0.2425 
$ 0.4950 
$ 0.4850 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Statement of Comprehensive Income [Abstract]
 
 
 
 
Net Income
$ 7,490 
$ 4,310 
$ 10,476 
$ 6,923 
Other Comprehensive Income, net of tax
 
 
 
 
Qualified Cash Flow Hedging Instrument Expense, net of tax benefit of $0 and $0 for three months ended June 30, 2014 and 2013, respectively, and $0 and $0 for six months ended June 30, 2014 and 2013, respectively
0 
1 
0 
1 
Reclassification to Pension and Post-Retirement Benefits Other Than Pension, net of tax (expense) of $(13) and $(61) for the three months ended June 30, 2014 and 2013, respectively, and $(26) and $(45) for six months ended June 30, 2014 and 2013, respectively
61 
92 
122 
67 
Unrealized (loss) gain on investments, net of tax (expense) of $(26) and $(3) for the three months ended June 30, 2014 and 2013, respectively, and $(24) and $(35) for six months ended June 30, 2014 and 2013, respectively
41 
5 
38 
53 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
102 
98 
160 
121 
Comprehensive Income
$ 7,592 
$ 4,408 
$ 10,636 
$ 7,044 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Other Comprehensive Income, net of tax
 
 
 
 
Qualified Cash Flow Hedging Instrument Expense, net of tax benefitof
$ 0 
$ 0 
$ 0 
$ 0 
Reclassification to Pension and Post-Retirement Benefits Plans, net of tax (expense) benefit of
(13)
(61)
(26)
(45)
Unrealized Investment loss, net of tax expense of
$ (26)
$ (3)
$ (24)
$ (35)
CONSOLIDATED STATEMENTS OF RETAINED EARNINGS (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Balance at Beginning of Period
$ 59,519 
$ 51,756 
$ 59,277 
$ 51,804 
Net Income
7,490 
4,310 
10,476 
6,923 
Retained Earnings before Dividends
67,009 
56,066 
69,753 
58,727 
Dividends Declared:
 
 
 
 
Cumulative Preferred, Class A, $0.20 per share for the three months ended June 30, 2014 and 2013, respectively, and $0.40 for the six months ended June 30, 2014 and 2013, respectively
10 
10 
19 
19 
Common Stock - 2014 $0.2475 per share; 2013 $0.2425 per share for the three months ended June 30, 2014 and 2013, respectively, and $0.495 and $0.485 for the six months ended June 30, 2014 and 2013, respectively
2,740 
2,661 
5,475 
5,313 
Total Dividends Declared
2,750 
2,671 
5,494 
5,332 
Balance at End of Period
64,259 
53,395 
64,259 
53,395 
Series A Voting
 
 
 
 
Dividends Declared:
 
 
 
 
Cumulative Preferred, Class A, $0.20 per share for the three months ended June 30, 2014 and 2013, respectively, and $0.40 for the six months ended June 30, 2014 and 2013, respectively
3 
3 
6 
6 
Cumulative Preferred Stock
 
 
 
 
Dividends Declared:
 
 
 
 
Cumulative Preferred, Class A, $0.20 per share for the three months ended June 30, 2014 and 2013, respectively, and $0.40 for the six months ended June 30, 2014 and 2013, respectively
$ 7 
$ 7 
$ 13 
$ 13 
CONSOLIDATED STATEMENTS OF RETAINED EARNINGS (Parenthetical)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Dividends Declared:
 
 
 
 
Common Stock (in dollars per share)
$ 0.2475 
$ 0.2425 
$ 0.4950 
$ 0.4850 
Cumulative Preferred Stock
 
 
 
 
Dividends Declared:
 
 
 
 
Preferred Stock (in dollars per share)
$ 0.225 
$ 0.225 
$ 0.450 
$ 0.450 
Series A Voting
 
 
 
 
Dividends Declared:
 
 
 
 
Preferred Stock (in dollars per share)
$ 0.20 
$ 0.20 
$ 0.40 
$ 0.40 
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating Activities:
 
 
Net Income
$ 10,476 
$ 6,923 
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
 
 
Deferred Revenues
(2,673)
119 
Provision for Deferred Income Taxes and Investment Tax Credits, Net
2,433 
3,485 
Allowance for Funds Used During Construction
(267)
(130)
Depreciation (including $500 and $265 in 2014 and 2013 charged to other accounts)
6,146 
5,569 
Change in Assets and Liabilities:
 
 
Decrease in Accounts Receivable and Accrued Unbilled Revenues
(763)
(1,652)
Increase in Prepayments and Other Current Assets
(2,346)
(673)
Decrease in Other Non-Current Items
554 
1,416 
Decrease in Accounts Payable, Accrued Expenses and Other Current Liabilities
(10)
(1,715)
Total Adjustments
3,074 
6,419 
Net Cash and Cash Equivalents Provided by Operating Activities
13,550 
13,342 
Investing Activities:
 
 
Net Additions to Utility Plant Used in Continuing Operations
(17,458)
(13,673)
Release of restricted cash
1,395 
1,295 
Net Cash and Cash Equivalents Used in Investing Activities
(16,063)
(12,378)
Financing Activities:
 
 
Proceeds from Interim Bank Loans
0 
134 
Repayment of Interim Bank Loans
0 
(1,660)
Proceeds from Issuance of Common Stock
886 
797 
Proceeds from Issuance of Long-term Debt
0 
14,550 
Costs to Issue Long-Term Debt and Common Stock
0 
(31)
Repayment of Long-Term Debt Including Current Portion
(793)
(15,269)
Advances from Others for Construction
136 
245 
Cash Dividends Paid
(5,494)
(5,332)
Net Cash and Cash Equivalents (Used in) Provided by Financing Activities
(5,265)
(6,566)
Net (Decrease) Increase in Cash and Cash Equivalents
(7,778)
(5,602)
Cash and Cash Equivalents at Beginning of Period
18,371 
13,150 
Cash and Cash Equivalents at End of Year
10,593 
7,548 
Non-Cash Investing and Financing Activities:
 
 
Non-Cash Contributed Utility Plant
412 
346 
Short-term Investment of Bond Proceeds Held in Restricted Cash
4,384 
9,937 
Cash Paid for:
 
 
Interest
3,313 
3,118 
State and Federal Income Taxes
$ 1,135 
$ 1,500 
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
 
 
Depreciation charged to other accounts
$ 500 
$ 265 
Basis of Preparation of Financials
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
1.
Basis of Preparation of Financials

The condensed consolidated financial statements included herein have been prepared by Connecticut Water Service, Inc. (the “Company”) and its wholly-owned subsidiaries, pursuant to the rules and regulations of the Securities and Exchange Commission and reflect all adjustments that are of a normal recurring nature which are, in the opinion of management, necessary to a fair statement of the results for interim periods.  Certain information and footnote disclosures have been omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.  The Company’s primary operating subsidiaries are: The Connecticut Water Company (“Connecticut Water”) and The Maine Water Company (“Maine Water”). The Biddeford & Saco Water Company (“BSWC”) was merged with and into Maine Water, with Maine Water remaining as the surviving entity, effective January 1, 2014. The Condensed Consolidated Balance Sheet at December 31, 2013 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.  It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and the notes thereto included in the Company’s latest Annual Report on Form 10-K for the year ended December 31, 2013 (the “10-K”) and as updated in the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2014.

Certain reclassifications have been made to the 2013 Condensed Consolidated Statement of Cash Flows to conform previously reported data to the current presentation.

The results for interim periods are not necessarily indicative of results to be expected for the year since the consolidated earnings are subject to seasonal factors.

Regulatory Matters

The rates we charge our Connecticut water customers are established under the jurisdiction of and are approved by the Connecticut Public Utilities Regulatory Authority (“PURA”).  It is our policy to seek rate relief as necessary to enable us to achieve an adequate rate of return.  Connecticut Water’s allowed return on equity and return on rate base, effective June 30, 2014 are 9.75% and 7.32%, respectively.

On January 25, 2013, Connecticut Water filed a Water Infrastructure Conservation Adjustment (“WICA”) application with the PURA requesting an additional 1.08% surcharge to customer bills related to approximately $6.5 million spending on WICA projects. This application also reduced the surcharge by 0.09% for the prior year reconciliation adjustment which expired April 1, 2013.  On January 30, 2013, Connecticut Water filed for a 0.10% reconciliation adjustment for the 2012 shortfall in WICA, to become effective April 1, 2013.  On March 25, 2013, the PURA approved an additional 1.06% surcharge, effective April 1, 2013. Additionally, on March 27, 2013, the PURA approved a 0.10% reconciliation adjustment, effective April 1, 2013. As of April 1, 2013, Connecticut Water's cumulative WICA surcharge was 6.80%.

On July 25, 2013, Connecticut Water filed a WICA application with the PURA requesting an additional 1.09% surcharge to customers' bills, representing approximately $5.6 million in WICA related projects. On September 18, 2013 the PURA approved the 1.09% surcharge with the new rates becoming effective on October 1, 2013. As of October 1, 2013, the cumulative WICA surcharge was 7.89%.

Effective April 1, 2014, in accordance with a settlement agreement with the Office of the Consumer Counsel of the State of Connecticut and the Office of the Attorney General for the State of Connecticut, discussed below, Connecticut Water's cumulative WICA surcharge of 7.89% was rolled into base rates charged to customers.

On July 29, 2014, Connecticut Water filed a WICA application with the PURA requesting a 1.59% surcharge to customers' bills, representing approximately $12.7 million in WICA related projects. Connecticut Water expects the PURA to issue a decision on the WICA application during the third quarter of 2014 with the new rates becoming effective on October 1, 2014.

On June 5, 2013, the Connecticut's General Assembly passed Public Act 13-78, “An Act Concerning Water Infrastructure and Conservation, Municipal Reporting Requirements and Unpaid Utility Accounts at Multi-Family Dwellings” (“PA 13-78”), which authorized a Water Revenue Adjustment (“WRA”) to reconcile actual water demands with the demands projected in the last general rate case and allows companies to adjust rates as necessary to recover the revenues approved by PURA in the last general rate case. The WRA removes the financial disincentive for water utilities to develop and implement effective water conservation programs. The WRA allows water companies to defer on the balance sheet, as a regulatory asset or liability, for later collection from or crediting to customers the amount by which actual revenues deviate from the revenues allowed in the most recent general rate proceedings, including WICA proceedings. Additionally, PA 13-78 raised the cap for WICA charges to 10%, from 7.5%, between general rate cases and expands the eligible projects to include energy conservation projects, improvements required to comply with streamflow regulations, and improvements to acquired systems.

On June 28, 2013, Connecticut Water entered into a settlement agreement with the Office of the Consumer Counsel of the State of Connecticut and the Office of the Attorney General for the State of Connecticut (the “Settlement Agreement”), whereby Connecticut Water would adjust the water rates charged to its customers effective April 1, 2014 in accordance with the elements of the Settlement Agreement (the “Connecticut Water Rate Reduction Plan”). On July 1, 2013, Connecticut Water submitted an application to the PURA seeking formal approval of the Settlement Agreement.

The Settlement Agreement contemplates that Connecticut Water would adopt regulations issued by the Internal Revenue Service (“IRS”) that allows the Company to adopt an alternative method for determining how expenditures related to tangible property can be treated for federal tax purposes for tax years beginning on or after January 1, 2012.  This tax accounting method change treats certain expenditures that the Company historically capitalized for tax purposes, as a deductible repair expense on its tax return.  The adoption of the tax accounting method change allows Connecticut Water to record a favorable “catch up adjustment” on the Company's consolidated 2012 federal tax return which was filed in September 2013. The Company filed for a tax refund of approximately $13.6 million by carrying back the net operating loss generated from this adjustment.

The Settlement Agreement includes, as a result of negotiated compromise of the parties' respective positions, the following key elements related to the Connecticut Water Rate Reduction Plan:

1)    Connecticut Water crediting its water customers with the amount of the catch up adjustment plus the amount by which 2012 federal income taxes are reduced by the repair deduction (the deduction amount filed on the Company's 2012 federal tax return was approximately $45 million) that would be offset in whole or in part by an anticipated rate increase arising from the WRA authorized by the State of Connecticut in Public Act No. 13-78 with any associated net change in rates reflected on Connecticut Water customers' bills as of April 1, 2014;

2)    Resetting Connecticut Water's adjustment under Connecticut's WICA mechanism to zero by integrating the present WICA surcharge of 7.89% into Connecticut Water's base rates; and

3)    Connecticut Water agreeing not to file for a general rate increase (except under extraordinary circumstances outside Connecticut Water's control) for new rates to be effective any sooner than October 1, 2015.

In the Settlement Agreement, the parties also requested that PURA approve an accounting treatment for Connecticut Water to: 1) allow for the deferral of the tax refund described above and a credit of the tax benefit to customers over a proposed two-year period through a credit on water bills issued which started on April 1, 2014 and 2) as discussed above, use the WRA to defer on the balance sheet as a regulatory asset or liability, for later collection from or crediting to customers of the amount by which actual revenues deviate from the revenues allowed in Connecticut Water's most recent general rate proceedings, including WICA proceedings.

On August 30, 2013, the PURA issued a final decision approving the Settlement Agreement. Connecticut Water began to issue a credit on customers' bills of approximately 8.5% on April 1, 2014, related to the repair deduction. Additionally, Connecticut Water began adding an approximate 4.5% surcharge to customer bills related to the WRA for a net surcredit of approximately 4.0%.

Connecticut Water's allowed revenues for the six months ended June 30, 2014, as approved by PURA during our 2010 general rate case and including subsequently approved WICA surcharges, are approximately $35.6 million. Through normal billing for the six months ended June 30, 2014, revenue for Connecticut Water would have been approximately $32.8 million had the WRA not been implemented. As a result of the implementation of the WRA, Connecticut Water recorded $2.8 million in additional revenue for the six months ended June 30, 2014. As of June 30, 2014, the Company has $6.1 million in deferred revenues as a regulatory asset to be recovered from customers found on the "Prepayments and Other Current Assets" and "Deferred Charges and Other Costs" lines on the Condensed Consolidated Balance Sheet.

The rates we charge our Maine water customers are established under the jurisdiction of and are approved by the Maine Public Utility Commission (“MPUC”). It is our policy to seek rate relief as necessary to enable us to achieve an adequate rate of return.  Maine Water’s average allowed return on equity and return on rate base, effective June 30, 2014 were 9.50% and 7.96%, respectively.

In April 2013, Maine Water filed for rate increases in three of its divisions, totaling approximately $94,000 in additional revenue, driven primarily by declining consumption and small expense increases. On July 9, 2013, the MPUC approved rate increases totaling $88,000 for these divisions, to be effective July 1, 2013. In June 2013, Maine Water filed for rate increases in three additional divisions, totaling approximately $554,000 in additional revenue, driven primarily by capital expenditures, declining consumption and small expense increases. Two of these cases were approved by the MPUC with additional annual revenue of $90,000 effective November 1, 2013. The remaining case was approved by the MPUC during the first quarter of 2014 and approved an annual increase of $340,000, effective March 25, 2014.

Effective June 2013, a Water Infrastructure Charge (“WISC”) became available in Maine that allows for expedited recovery of investment in water system infrastructure replacement, both treatment and distribution. Because the MPUC sets rates for Maine Water on a division-by-division basis, the WISC must be implemented in the same manner. To date in 2014, Maine Water has implemented a WISC in two of its divisions with expected annual revenue totaling $120,000, with plans to implement additional WISCs in most of the remaining divisions by the end of 2014. Additionally, Maine Water currently intends to file for a general rate increase for its BSWC division in the third quarter of 2014.
Pension and Other Post-Retirement Benefits
Pension and Other Post-Retirement Benefits
2.
Pension and Other Post-Retirement Benefits

The following tables set forth the components of pension and other post-retirement benefit costs for the three and six months ended June 30, 2014 and 2013.

Pension Benefits
Components of Net Periodic Cost (in thousands):
 
Three Months
 
Six Months
Period ended June 30,
2014
 
2013
 
2014
 
2013
Service Cost
$
488

 
$
513

 
$
976

 
$
1,100

Interest Cost
763

 
651

 
1,526

 
1,306

Expected Return on Plan Assets
(889
)
 
(727
)
 
(1,778
)
 
(1,473
)
Amortization of:
 

 
 

 
 
 
 
Prior Service Cost
18

 
19

 
36

 
37

Net Recognized Loss
273

 
540

 
546

 
1,031

Net Periodic Benefit Cost
$
653

 
$
996

 
$
1,306

 
$
2,001



The Company plans to make a contribution to its defined benefit pension plan of $3,426,000 in 2014 for the 2013 plan year, as allowed by the current funding status.

Post-Retirement Benefits Other Than Pension (PBOP)
Components of Net Periodic Cost (in thousands):
 
Three Months
 
Six Months
Period ended June 30,
2014
 
2013
 
2014
 
2013
Service Cost
$
154

 
$
176

 
$
308

 
$
337

Interest Cost
160

 
129

 
320

 
254

Expected Return on Plan Assets
(77
)
 
(70
)
 
(154
)
 
(145
)
Other
56

 
56

 
112

 
112

Amortization of:
 

 
 

 
 
 
 
Prior Service Credit
(201
)
 
(202
)
 
(402
)
 
(403
)
Recognized Net Loss
68

 
118

 
136

 
215

Net Periodic Benefit Cost
$
160

 
$
207

 
$
320

 
$
370

Earnings per Share
Earnings per Share
3.
Earnings per Share

Earnings per weighted average common share are calculated by dividing net income applicable to common stock by the weighted average number of shares of common stock outstanding during the respective periods as detailed below (diluted shares include the effect of stock awards):

Three months ended June 30,
2014
 
2013
Common Shares Outstanding End of Period:
11,097,506

 
11,001,715

Weighted Average Shares Outstanding (Days Outstanding Basis):
 

 
 

Basic
10,886,883

 
10,818,883

Diluted
11,085,061

 
10,988,813

 
 
 
 
Basic Earnings per Share
$
0.69

 
$
0.40

Dilutive Effect of Stock Awards
(0.02
)
 
(0.01
)
Diluted Earnings per Share
$
0.67

 
$
0.39

 
 
 
 
Six Months ended June 30,
 
 
 
Weighted Average Shares Outstanding (Days Outstanding Basis):
 
 
 
Basic
10,877,883

 
10,811,100

Diluted
11,073,258

 
10,976,812

 
 
 
 
Basic Earnings per Share
$
0.96

 
$
0.64

Dilutive Effect of Stock Awards
(0.02
)
 
(0.01
)
Diluted Earnings per Share
$
0.94

 
$
0.63



Total unrecognized compensation expense for all stock awards was approximately $1.5 million as of June 30, 2014 and will be recognized over a weighted average period of 1.5 years.
New Accounting Pronouncements
New Accounting Pronouncements
4.
New Accounting Pronouncements

In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carry-forward, a Similar Tax Loss, or a Tax Credit Carry-forward Exists.” ASU No. 2013-11 requires an entity to present an unrecognized tax benefit as a reduction of a deferred tax asset for a net operating loss carry-forward, or similar tax loss or tax credit carry-forward, rather than as a liability when (1) the uncertain tax position would reduce the Net Operating Loss or other carry-forward under the tax law of the applicable jurisdiction and (2) the entity intends to use the deferred tax asset for that purpose. This ASU was effective prospectively for fiscal years beginning after December 15, 2013. The adoption of this guidance did not materially impact our consolidated financial position.

In January 2014, the FASB issued ASU No. 2014-05, “Service Concession Arrangements.” The ASU clarifies that an operating entity should not account for a services concession arrangement with a public-sector grantor as a lease if: (1) the grantor controls or has the ability to modify or approve the services the operating entity must provide, to whom it must provide them, and at what price and (2) the grantor controls any residual interest in the infrastructure at the end of the arrangement. In addition, the infrastructure used in a service concession arrangement would not be recognized as property, plant and equipment of the operating entity. The ASU is to be applied on a modified retrospective basis to service concession arrangements outstanding upon adoption and will be effective for the Company beginning January 1, 2015. The Company is currently assessing the impact of this standard on its consolidated financial statements and footnote disclosures, but does not expect that the adoption of this guidance will materially impact our consolidated financial position.

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which amends its guidance related to revenue recognition. ASU 2014-09 requires an entity to recognize revenue as performance obligations are met, in order to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration the entity is entitled to receive for those goods or services. The following steps are applied in the updated guidance: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. ASU 2014-09 is effective for public companies for fiscal years, and interim periods within those years, beginning after December 15, 2016, and can be adopted either retrospectively to each prior reporting period presented or as a cumulative-effect adjustment as of the date of adoption, however early adoption is not permitted. The Company is currently determining its implementation approach and assessing the impact that this guidance may have on our consolidated financial position.

In June 2014, the FASB issued ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” ASU No. 2014-12 requires that a performance target that affects vesting and that can be achieved after the requisite service period be treated as a performance condition. As such, the performance target that affects vesting should not be reflected in estimating that fair value of the award at the grant date. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which service has been rendered. If the performance target becomes probable of being achieved before the end of the service period, the remaining unrecognized compensation cost for which requisite service has not yet been rendered is recognized prospectively over the remaining service period. The total amount of compensation cost recognized during and after the service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Company is currently assessing the impact of this standard on its consolidated financial statements and footnote disclosures, but does not expect that the adoption of this guidance will materially impact our consolidated financial position.
Accumulated Other Comprehensive Income (Loss) (Notes)
Comprehensive Income (Loss) Note [Text Block]
5.
Accumulated Other Comprehensive Income

The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the three months ended June 30, 2014 and 2013 is as follows (in thousands):
Three Months Ended June 30, 2014
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
—

 
$
256

 
$
(313
)
 
$
(57
)
Other Comprehensive Income Before Reclassification
 
—

 
41

 
—

 
41

Amounts Reclassified from AOCI
 
—

 
—

 
61

 
61

Net current-period Other Comprehensive Income
 
—

 
41

 
61

 
102

Ending Balance
 
$
—

 
$
297

 
$
(252
)
 
$
45

 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2013
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
(41
)
 
$
117

 
$
(1,381
)
 
$
(1,305
)
Other Comprehensive Income Before Reclassification
 
—

 
4

 
—

 
4

Amounts Reclassified from AOCI
 
1

 
1

 
92

 
94

Net current-period Other Comprehensive Income
 
1

 
5

 
92

 
98

Ending Balance
 
$
(40
)
 
$
122

 
$
(1,289
)
 
$
(1,207
)
 
 
 
 
 
 
 
 
 
(a) All amounts shown are net of tax. Amounts in parentheses indicate loss.

The changes in AOCI by component, net of tax, for the six months ended June 30, 2014 and 2013 is as follows (in thousands):
Six Months Ended June 30, 2014
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
—

 
$
259

 
$
(374
)
 
$
(115
)
Other Comprehensive Income Before Reclassification
 
—

 
27

 
—

 
27

Amounts Reclassified from AOCI
 
—

 
11

 
122

 
133

Net current-period Other Comprehensive Income
 
—

 
38

 
122

 
160

Ending Balance
 
$
—

 
$
297

 
$
(252
)
 
$
45

 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2013
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
(41
)
 
$
69

 
$
(1,356
)
 
$
(1,328
)
Other Comprehensive Income Before Reclassification
 
—

 
41

 
—

 
41

Amounts Reclassified from AOCI
 
1

 
12

 
67

 
80

Net current-period Other Comprehensive Income
 
1

 
53

 
67

 
121

Ending Balance
 
$
(40
)
 
$
122

 
$
(1,289
)
 
$
(1,207
)
 
 
 
 
 
 
 
 
 
(a) All amounts shown are net of tax. Amounts in parentheses indicate loss.

The following table sets forth the amounts reclassified from AOCI by component and the affected line item on the Condensed Consolidated Statement of Income for the three months ended June 30, 2014 and 2013 (in thousands):
Details about Other AOCI Components
 
Amounts Reclassified from AOCI Three Months Ended June 30, 2014(a)
 
Amounts Reclassified from AOCI Three Months Ended June 30, 2013(a)
 
Affected Line Items on Income Statement
Amortization of Cash Flow Hedging Instrument
 
$
—

 
$
1

 
Other Income
Tax benefit
 
—

 
—

 
Other Income
 
 
—

 
1

 
 
 
 
 
 
 
 
 
Realized Gains on Investments
 
$
—

 
$
3

 
Other Income
Tax expense
 
—

 
(2
)
 
Other Income
 
 
—

 
1

 
 
 
 
 
 
 
 
 
Amortization of Recognized Net Gain from Defined Benefit Items
 
74

 
120

 
Other Income (b)
Tax expense
 
(13
)
 
(28
)
 
Other Income
 
 
61

 
92

 
 
 
 
 
 
 
 
 
Total Reclassifications for the period, net of tax
 
$
61

 
$
94

 
 
 
 
 
 
 
 
 
(a) Amounts in parentheses indicate loss/expense.
(b) Included in computation of net periodic pension cost (see Note 2 for additional details).


The following table sets forth the amounts reclassified from AOCI by component and the affected line item on the Condensed Consolidated Statement of Income for the six months ended June 30, 2014 and 2013 (in thousands):
Details about Other AOCI Components
 
Amounts Reclassified from AOCI Six Months Ended June 30, 2014(a)
 
Amounts Reclassified from AOCI Six Months Ended June 30, 2013(a)
 
Affected Line Items on Income Statement
Amortization of Cash Flow Hedging Instrument
 
—

 
1

 
Other Income
Tax benefit
 
—

 
—

 
Other Income
 
 
—

 
1

 
 
 
 
 
 
 
 
 
Realized Gains on Investments
 
$
18

 
$
21

 
Other Income
Tax expense
 
(7
)
 
(9
)
 
Other Income
 
 
11

 
12

 
 
 
 
 
 
 
 
 
Amortization of Recognized Net Gain from Defined Benefit Items
 
148

 
112

 
Other Income (b)
Tax expense
 
(26
)
 
(45
)
 
Other Income
 
 
122

 
67

 
 
 
 
 
 
 
 
 
Total Reclassifications for the period, net of tax
 
$
133

 
$
80

 
 
 
 
 
 
 
 
 
(a) Amounts in parentheses indicate loss/expense.
(b) Included in computation of net periodic pension cost (see Note 2 for additional details).
Long-Term Debt
Long-Term Debt
Long-Term Debt

Long-Term Debt at June 30, 2014 and December 31, 2013 consisted of the following (in thousands):
 
2014
 
2013
Connecticut Water Service, Inc.:
 
 
 
4.09%
 
Term Loan Note
$
15,948

 
$
16,420

The Connecticut Water Company:
 
 
 
Var.
 
2004 Series Variable Rate, Due 2029
12,500

 
12,500

Var.
 
2004 Series A, Due 2028
5,000

 
5,000

Var.
 
2004 Series B, Due 2028
4,550

 
4,550

5.10%
 
2009 A Series, Due 2039
19,950

 
19,950

5.00%
 
2011 A Series, Due 2021
23,571

 
23,602

3.16%
 
CoBank Note Payable, Due 2020
8,000

 
8,000

3.51%
 
CoBank Note Payable, Due 2022
14,795

 
14,795

4.29%
 
CoBank Note Payable, Due 2028
17,020

 
17,020

4.72%
 
CoBank Note Payable, Due 2032
14,795

 
14,795

4.75%
 
CoBank Note Payable, Due 2033
14,550

 
14,550

Total The Connecticut Water Company
134,731

 
134,762

The Maine Water Company:
 
 
 
8.95%
 
1994 Series G, Due 2024
9,000

 
9,000

2.68%
 
1999 Series J, Due 2019
424

 
474

0.00%
 
2001 Series K, Due 2031
697

 
739

2.58%
 
2002 Series L, Due 2022
83

 
90

1.53%
 
2003 Series M, Due 2023
381

 
401

1.73%
 
2004 Series N, Due 2024
451

 
451

0.00%
 
2004 Series O, Due 2034
133

 
140

1.76%
 
2006 Series P, Due 2026
431

 
451

1.57%
 
2009 Series R, Due 2029
237

 
242

0.00%
 
2009 Series S, Due 2029
695

 
717

0.00%
 
2009 Series T, Due 2029
1,949

 
2,012

0.00%
 
2012 Series U, Due 2042
166

 
171

1.00%
 
2013 Series V, Due 2033
1,385

 
1,410

2.52%
 
CoBank Note Payable, Due 2017
1,965

 
1,965

6.45%
 
BSWC Series M, Due 2014
2,700

 
2,700

7.72%
 
BSWC Series L, Due 2018
2,250

 
2,250

2.40%
 
BSWC Series N, Due 2022
1,251

 
1,297

1.86%
 
BSWC Series O, Due 2025
862

 
862

2.23%
 
BSWC Series P, Due 2028
1,354

 
1,354

Various
 
Various Capital Leases
55

 
70

Total The Maine Water Company
26,469

 
26,796

Add:  Acquisition Fair Value Adjustment
1,002

 
1,185

Less:  Current Portion
(4,234
)
 
(4,121
)
Total Long-Term Debt
$
173,916

 
$
175,042



There are no mandatory sinking fund payments required on Connecticut Water’s outstanding Water Facilities Revenue Bonds.  However, certain fixed rate Unsecured Water Facilities Revenue Refinancing Bonds provide for an estate redemption right whereby the estate of deceased bondholders or surviving joint owners may submit bonds to the Trustee for redemption at par, subject to a $25,000 per individual holder and a 3% annual aggregate limitation.

On March 5, 2013, Connecticut Water and CoBank, ACB (“CoBank”) entered into a Promissory Note and Single Advance Term Loan Supplement to an existing Master Loan Agreement (the “Note”) in which CoBank agreed to make an additional Loan to Connecticut Water in an aggregate principal amount of up to $14,550,000, with a maturity date of March 4, 2033. Additionally, the Company entered into an Amendment to the Guarantee dated March 5, 2013 (the “Guarantee Amendment”), pursuant to which the Company agreed to guarantee the payment of certain of Connecticut Water's obligations under the Note pursuant to the same terms of the Guarantee. Connecticut Water used substantially all of the proceeds of the Loans to refinance the 2007 A Series bonds then outstanding.

On June 3, 2013, Maine Water completed the issuance of $1,409,888 aggregate principal amount of its First Mortgage Bonds, Series V, 1.0% due April 1, 2033 (the “Bonds”). The Bonds were issued by Maine Water to the Maine Municipal Bond Bank (the “Bank”) and the proceeds of the issuance were loaned (the “Loan”) by the Bank to Maine Water pursuant to a Loan Agreement by and between Maine Water and the Bank dated as of June 3, 2013. The proceeds of the Loan are being used by Maine Water to fund various water facilities projects.

Financial Covenants – The Company and its subsidiaries are required to comply with certain covenants in connection with various long term loan agreements.  The most restrictive of these covenants is to maintain a consolidated debt to capitalization ratio of not more than 60%. Additionally, Maine Water has restrictions on cash dividends paid based on restricted net assets. The Company and its subsidiaries were in compliance with all covenants at June 30, 2014.
Fair Value Disclosures
Fair Value Disclosures
Fair Value Disclosures

FASB Accounting Standards Codification ("ASC") 820, Fair Value Measurements and Disclosures (“FASB ASC 820”) provides enhanced guidance for using fair value to measure assets and liabilities and expands disclosure with respect to fair value measurements.

FASB ASC 820 establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs).  The hierarchy consists of three broad levels, as follows:

Level 1 – Quoted market prices in active markets for identical assets or liabilities.
Level 2 – Inputs other than Level 1 that are either directly or indirectly observable.
Level 3 – Unobservable inputs developed using the Company’s estimates and assumptions, which reflect those that the Company believes market participants would use.

The following table summarizes our financial instruments measured at fair value on a recurring basis within the fair value hierarchy as of June 30, 2014 (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Asset Type:
 
 
 
 
 
 
 
Company Owned Life Insurance
$
—

 
$
2,948

 
$
—

 
$
2,948

Money Market Fund
27

 
—

 
—

 
27

Mutual Funds:
 

 
 

 
 

 
 

Equity Funds (1)
1,546

 
—

 
—

 
1,546

Total
$
1,573

 
$
2,948

 
$
—

 
$
4,521


The following table summarizes our financial instruments measured at fair value on a recurring basis within the fair value hierarchy as of December 31, 2013 (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Asset Type:
 
 
 
 
 
 
 
Company Owned Life Insurance
$
—

 
$
2,843

 
$
—

 
$
2,843

Money Market Fund
62

 
—

 
—

 
62

Mutual Funds:
 

 
 

 
 

 
 

Equity Funds (1)
1,528

 
—

 
—

 
1,528

Total
$
1,590

 
$
2,843

 
$
—

 
$
4,433

(1)
Mutual funds consist primarily of equity securities and are presented on the Other Property and Investments line item of the Company's Condensed Consolidated Balance Sheets.

The fair value of Company Owned Life Insurance is based on the cash surrender value of the contracts. These contracts are based principally on a referenced pool of investment funds that actively redeem shares and are observable and measurable and are presented on the Other Property and Investments line item of the Company's Condensed Consolidated Balance Sheets.

The following methods and assumptions were used to estimate the fair value of each of the following financial instruments, which are not recorded at fair value on the financial statements.

Cash and cash equivalents – Cash equivalents consist of highly liquid instruments with original maturities at the time of purchase of three months or less.  The carrying amount approximates fair value.  Under the fair value hierarchy the fair value of cash and cash equivalents is classified as a Level 1 measurement.

Restricted Cash – As part of the Connecticut Water’s December 2011 and Maine Water's June 2013 bond offerings, the Company recorded unused proceeds from this bond issuance as restricted cash as the funds can only be used for certain capital expenditures.  The Company expects to use the remainder of the proceeds during 2014, as the approved capital expenditures are completed.  The carrying amount approximates fair value.  Under the fair value hierarchy the fair value of restricted cash is classified as a Level 1 measurement.

Long-Term Debt – The fair value of the Company's fixed rate long-term debt is based upon borrowing rates currently available to the Company.  As of June 30, 2014 and December 31, 2013, the estimated fair value of the Company's long-term debt was $186,526,000 and $178,526,000, respectively, as compared to the carrying amounts of $173,916,000 and $175,042,000, respectively. The estimated fair value of long term debt was calculated using a discounted cash flow model that uses comparable interest rates and yield curve data based on the A-rated MMD (Municipal Market Data) Index which is the benchmark of current municipal bond yields. Under the fair value hierarchy, the fair value of long term debt is classified as a Level 2 measurement.

Advances for Construction – Customer advances for construction have a carrying amount of $28,018,000 and $28,718,000 at June 30, 2014 and December 31, 2013, respectively. Their relative fair values cannot be accurately estimated since future refund payments depend on several variables, including new customer connections, customer consumption levels and future rate increases.

The fair values shown above have been reported to meet the disclosure requirements of FASB ASC 825, “Financial Instruments” (“FASB ASC 825”) and do not purport to represent the amounts at which those obligations would be settled.
Segment Reporting
Segment Reporting
Segment Reporting

The Company operates principally in three business segments: Water Activities, Real Estate Transactions, and Services and Rentals. Financial data for the segments is as follows (in thousands):
Three Months Ended June 30, 2014
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
25,810

 
$
8,837

 
$
1,745

 
$
7,092

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
1,476

 
655

 
257

 
398

Total
 
$
27,286

 
$
9,492

 
$
2,002

 
$
7,490

Three Months Ended June 30, 2013
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
22,854

 
$
6,379

 
$
2,445

 
$
3,934

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
1,477

 
634

 
258

 
376

Total
 
$
24,331

 
$
7,013

 
$
2,703

 
$
4,310

Six Months Ended June 30, 2014
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
46,430

 
$
11,755

 
$
2,110

 
$
9,645

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
2,888

 
1,365

 
534

 
831

Total
 
$
49,318

 
$
13,120

 
$
2,644

 
$
10,476

Six Months Ended June 30, 2013
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
42,982

 
$
9,929

 
$
3,768

 
$
6,161

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
2,866

 
1,287

 
525

 
762

Total
 
$
45,848

 
$
11,216

 
$
4,293

 
$
6,923



The revenues shown in Water Activities above consisted of revenues from water customers of $25,459,000 and $22,545,000 for the three months ended June 30, 2014 and 2013, respectively.  Additionally, there were revenues associated with utility plant leased to others of $351,000 and $309,000 for the three months ended June 30, 2014 and 2013, respectively. The revenues from water customers for the three months ended June 30, 2014 include $2,686,000 in revenues related to the implementation of the WRA. There were no such revenues for the three months ended June 30, 2013, since the Company implemented the WRA in the period ended September 30, 2013. The revenues shown in Water Activities above consisted of revenues from water customers of $45,719,000 and $42,274,000 for the six months ended June 30, 2014 and 2013, respectively.  Additionally, there were revenues associated with utility plant leased to others of $711,000 and $708,000 for the six months ended June 30, 2014 and 2013, respectively. The revenues from water customers for the six months ended June 30, 2014 include $2,793,000 in revenues related to the implementation of the WRA. There were no such revenues for the six months ended June 30, 2013, since the Company implemented the WRA in the period ended September 30, 2013.

The Company owns various small, discrete parcels of land that are no longer required for water supply purposes.  From time to time, the Company may sell or donate these parcels, depending on various factors, including the current market for land, the amount of tax benefits received for donations and the Company’s ability to use any benefits received from donations.

Assets by segment (in thousands):
 
June 30,
2014
 
December 31,
2013
Total Plant and Other Investments:
 
 
 
Water Activities
$
490,848

 
$
478,560

Non-Water
744

 
704

 
491,592

 
479,264

Other Assets:
 
 
 
Water Activities
138,052

 
136,246

Non-Water
10,871

 
15,301

 
148,923

 
151,547

Total Assets
$
640,515

 
$
630,811

Income Tax Expense
Income Taxes
Income Taxes

FASB ASC 740 Income Taxes (“FASB ASC 740”) addresses the determination of how tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under FASB ASC 740, the Company must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution.

On June 11, 2013, the Company was notified by the Connecticut Department of Revenue Services that its state tax filings for the years 2009 through 2011 would be reviewed beginning in the fourth quarter of 2013.  The Company is also aware that certain of its peers have been challenged on certain tax credits associated with fixed capital investment and believes that this may be a focus of the State's review.  While the Company firmly believes that all fixed capital investment credits are appropriate and conservatively measured, the Company believes, based on recent activities by taxing authorities, that it is more likely than not that the Company's fixed capital investment credits claimed in prior years may be challenged and ultimately disallowed. Through June 30, 2014, the Company has recorded, as required by FASB ASC 740, a provision of $2.0 million, or 100% of the credits recorded for transmission and distribution projects that would be subject to disallowance.

On the 2012 Federal tax return, filed in September 2013, Connecticut Water filed a change in accounting method to adopt the IRS' temporary tangible property regulations.  This method change allowed the Company to take a current year deduction for expenses that were previously capitalized for tax purposes. Since the filing of the 2012 tax return, the IRS has issued final regulations.  On February 11, 2014, the Company was notified by the IRS that its Federal tax filing for the 2012 would be reviewed. This review, which is still ongoing, began in the first quarter of 2014. While the Company believes that the deduction taken on its tax return is appropriate, the methodology for determining the deduction could be challenged by the taxing authorities.  Through June 30, 2014, the Company has recorded, as required by FASB ASC 740, a provision of $3.2 million for a portion of the benefit that is not being returned to customers resulting from any possible tax authority challenge.

From time to time, the Company may be assessed interest and penalties by taxing authorities.  In those cases, the charges would appear on the Other line item within the Other Income (Deductions), Net of Taxes section of the Company's Condensed Consolidated Statements of Income.  There were no such charges for the six months ended June 30, 2014 and 2013.  Additionally, there were no accruals relating to interest or penalties as of June 30, 2014 and December 31, 2013.  The Company remains subject to examination by federal authorities for the 2010 through 2012 tax years; and the state authorities for the 2009 through 2012 tax years.

The Company is currently engaged in an analysis to determine the amount of expenditures related to tangible property that will be reflected on its 2014 Federal Tax Return to be filed in September 2015.  As a result, through the second quarter of 2014, the Company has estimated the portion of its infrastructure investment that will qualify as a repair deduction for 2014 and has reflected that deduction in its effective tax rate at 75% of the expected $15 million of infrastructure improvement.  Consistent with other differences between book and tax expenditures, the Company is required to flow-through any timing differences not required by the Internal Revenue Service to be normalized.

The Company’s effective income tax rate for the three months ended June 30, 2014 and 2013 was 21.1% and 38.6%, respectively.  The Company's effective tax rate, excluding discrete items booked during the quarter, was 14.8% for the three months ended June 30, 2014. These discrete items included an adjustment related to the recording of the provision for the repair deduction. The statutory income tax rates during each period were 41%.  In determining its annual estimated effective tax rate for interim periods, the Company reflects its estimated permanent and flow-through tax differences for the taxable year, including the basis difference for the adoption of the tangible property regulations in the current year.

The Company’s effective income tax rate for the six months ended June 30, 2014 and 2013 was 20.2% and 38.3%, respectively.  The Company's effective tax rate, excluding discrete items booked during the quarter, was 17.1% for the six months ended June 30, 2014. These discrete items included an adjustment related to the recording in the first quarter of 2014, of a tax benefit associated with the amortization of the fair value of debt in connection with the purchases of Maine Water and BSWC, and the recording of the provision for the repair deduction. The statutory income tax rates during each period were 41%. In determining its annual estimated effective tax rate for interim periods, the Company reflects its estimated permanent and flow-through tax differences for the taxable year, including the basis difference for the adoption of the tangible property regulations in the current year.
Lines of Credit
Lines of Credit
Lines of Credit

The Company entered into a $15 million line of credit agreement with CoBank, that is currently scheduled to expire on July 1, 2016.  The Company maintains an additional line of credit of $20 million with RBS Citizens, N.A., with an expiration date of June 30, 2015.  As of June 30, 2014, the total lines of credit available to the Company was $35.0 million.  The Company did not have any Interim Bank Loans Payable at June 30, 2014 and December 31, 2013, respectively. As of June 30, 2014, the Company had $35.0 million in unused lines of credit.  Interest expense charged on lines of credit will fluctuate based on market interest rates.
Pension and Other Post-Retirement Benefits Pension and Post-Retirement Benefits (Tables)
Schedule of Net Benefit Costs [Table Text Block] 
Pension Benefits
Components of Net Periodic Cost (in thousands):
 
Three Months
 
Six Months
Period ended June 30,
2014
 
2013
 
2014
 
2013
Service Cost
$
488

 
$
513

 
$
976

 
$
1,100

Interest Cost
763

 
651

 
1,526

 
1,306

Expected Return on Plan Assets
(889
)
 
(727
)
 
(1,778
)
 
(1,473
)
Amortization of:
 

 
 

 
 
 
 
Prior Service Cost
18

 
19

 
36

 
37

Net Recognized Loss
273

 
540

 
546

 
1,031

Net Periodic Benefit Cost
$
653

 
$
996

 
$
1,306

 
$
2,001

schedule of post retirement benefits other than pension costs [Table Text Block] 
Post-Retirement Benefits Other Than Pension (PBOP)
Components of Net Periodic Cost (in thousands):
 
Three Months
 
Six Months
Period ended June 30,
2014
 
2013
 
2014
 
2013
Service Cost
$
154

 
$
176

 
$
308

 
$
337

Interest Cost
160

 
129

 
320

 
254

Expected Return on Plan Assets
(77
)
 
(70
)
 
(154
)
 
(145
)
Other
56

 
56

 
112

 
112

Amortization of:
 

 
 

 
 
 
 
Prior Service Credit
(201
)
 
(202
)
 
(402
)
 
(403
)
Recognized Net Loss
68

 
118

 
136

 
215

Net Periodic Benefit Cost
$
160

 
$
207

 
$
320

 
$
370

Earnings per Share Earnings per Share (Tables)
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Earnings per weighted average common share are calculated by dividing net income applicable to common stock by the weighted average number of shares of common stock outstanding during the respective periods as detailed below (diluted shares include the effect of stock awards):

Three months ended June 30,
2014
 
2013
Common Shares Outstanding End of Period:
11,097,506

 
11,001,715

Weighted Average Shares Outstanding (Days Outstanding Basis):
 

 
 

Basic
10,886,883

 
10,818,883

Diluted
11,085,061

 
10,988,813

 
 
 
 
Basic Earnings per Share
$
0.69

 
$
0.40

Dilutive Effect of Stock Awards
(0.02
)
 
(0.01
)
Diluted Earnings per Share
$
0.67

 
$
0.39

 
 
 
 
Six Months ended June 30,
 
 
 
Weighted Average Shares Outstanding (Days Outstanding Basis):
 
 
 
Basic
10,877,883

 
10,811,100

Diluted
11,073,258

 
10,976,812

 
 
 
 
Basic Earnings per Share
$
0.96

 
$
0.64

Dilutive Effect of Stock Awards
(0.02
)
 
(0.01
)
Diluted Earnings per Share
$
0.94

 
$
0.63

Accumulated Other Comprehensive Income (Loss) (Tables)
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The changes in Accumulated Other Comprehensive Income (“AOCI”) by component, net of tax, for the three months ended June 30, 2014 and 2013 is as follows (in thousands):
Three Months Ended June 30, 2014
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
—

 
$
256

 
$
(313
)
 
$
(57
)
Other Comprehensive Income Before Reclassification
 
—

 
41

 
—

 
41

Amounts Reclassified from AOCI
 
—

 
—

 
61

 
61

Net current-period Other Comprehensive Income
 
—

 
41

 
61

 
102

Ending Balance
 
$
—

 
$
297

 
$
(252
)
 
$
45

 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2013
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
(41
)
 
$
117

 
$
(1,381
)
 
$
(1,305
)
Other Comprehensive Income Before Reclassification
 
—

 
4

 
—

 
4

Amounts Reclassified from AOCI
 
1

 
1

 
92

 
94

Net current-period Other Comprehensive Income
 
1

 
5

 
92

 
98

Ending Balance
 
$
(40
)
 
$
122

 
$
(1,289
)
 
$
(1,207
)
 
 
 
 
 
 
 
 
 
(a) All amounts shown are net of tax. Amounts in parentheses indicate loss.

The changes in AOCI by component, net of tax, for the six months ended June 30, 2014 and 2013 is as follows (in thousands):
Six Months Ended June 30, 2014
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
—

 
$
259

 
$
(374
)
 
$
(115
)
Other Comprehensive Income Before Reclassification
 
—

 
27

 
—

 
27

Amounts Reclassified from AOCI
 
—

 
11

 
122

 
133

Net current-period Other Comprehensive Income
 
—

 
38

 
122

 
160

Ending Balance
 
$
—

 
$
297

 
$
(252
)
 
$
45

 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2013
 
Interest Rate Swap
 
Unrealized Gains on Investments
 
Defined Benefit Items
 
Total
Beginning Balance (a)
 
$
(41
)
 
$
69

 
$
(1,356
)
 
$
(1,328
)
Other Comprehensive Income Before Reclassification
 
—

 
41

 
—

 
41

Amounts Reclassified from AOCI
 
1

 
12

 
67

 
80

Net current-period Other Comprehensive Income
 
1

 
53

 
67

 
121

Ending Balance
 
$
(40
)
 
$
122

 
$
(1,289
)
 
$
(1,207
)
 
 
 
 
 
 
 
 
 
(a) All amounts shown are net of tax. Amounts in parentheses indicate loss.

The following table sets forth the amounts reclassified from AOCI by component and the affected line item on the Condensed Consolidated Statement of Income for the three months ended June 30, 2014 and 2013 (in thousands):
Details about Other AOCI Components
 
Amounts Reclassified from AOCI Three Months Ended June 30, 2014(a)
 
Amounts Reclassified from AOCI Three Months Ended June 30, 2013(a)
 
Affected Line Items on Income Statement
Amortization of Cash Flow Hedging Instrument
 
$
—

 
$
1

 
Other Income
Tax benefit
 
—

 
—

 
Other Income
 
 
—

 
1

 
 
 
 
 
 
 
 
 
Realized Gains on Investments
 
$
—

 
$
3

 
Other Income
Tax expense
 
—

 
(2
)
 
Other Income
 
 
—

 
1

 
 
 
 
 
 
 
 
 
Amortization of Recognized Net Gain from Defined Benefit Items
 
74

 
120

 
Other Income (b)
Tax expense
 
(13
)
 
(28
)
 
Other Income
 
 
61

 
92

 
 
 
 
 
 
 
 
 
Total Reclassifications for the period, net of tax
 
$
61

 
$
94

 
 
 
 
 
 
 
 
 
(a) Amounts in parentheses indicate loss/expense.
(b) Included in computation of net periodic pension cost (see Note 2 for additional details).


The following table sets forth the amounts reclassified from AOCI by component and the affected line item on the Condensed Consolidated Statement of Income for the six months ended June 30, 2014 and 2013 (in thousands):
Details about Other AOCI Components
 
Amounts Reclassified from AOCI Six Months Ended June 30, 2014(a)
 
Amounts Reclassified from AOCI Six Months Ended June 30, 2013(a)
 
Affected Line Items on Income Statement
Amortization of Cash Flow Hedging Instrument
 
—

 
1

 
Other Income
Tax benefit
 
—

 
—

 
Other Income
 
 
—

 
1

 
 
 
 
 
 
 
 
 
Realized Gains on Investments
 
$
18

 
$
21

 
Other Income
Tax expense
 
(7
)
 
(9
)
 
Other Income
 
 
11

 
12

 
 
 
 
 
 
 
 
 
Amortization of Recognized Net Gain from Defined Benefit Items
 
148

 
112

 
Other Income (b)
Tax expense
 
(26
)
 
(45
)
 
Other Income
 
 
122

 
67

 
 
 
 
 
 
 
 
 
Total Reclassifications for the period, net of tax
 
$
133

 
$
80

 
 
 
 
 
 
 
 
 
(a) Amounts in parentheses indicate loss/expense.
(b) Included in computation of net periodic pension cost (see Note 2 for additional details).
Long-Term Debt Long-Term Debt (Tables)
Schedule of Long-term Debt Instruments [Table Text Block]
Long-Term Debt at June 30, 2014 and December 31, 2013 consisted of the following (in thousands):
 
2014
 
2013
Connecticut Water Service, Inc.:
 
 
 
4.09%
 
Term Loan Note
$
15,948

 
$
16,420

The Connecticut Water Company:
 
 
 
Var.
 
2004 Series Variable Rate, Due 2029
12,500

 
12,500

Var.
 
2004 Series A, Due 2028
5,000

 
5,000

Var.
 
2004 Series B, Due 2028
4,550

 
4,550

5.10%
 
2009 A Series, Due 2039
19,950

 
19,950

5.00%
 
2011 A Series, Due 2021
23,571

 
23,602

3.16%
 
CoBank Note Payable, Due 2020
8,000

 
8,000

3.51%
 
CoBank Note Payable, Due 2022
14,795

 
14,795

4.29%
 
CoBank Note Payable, Due 2028
17,020

 
17,020

4.72%
 
CoBank Note Payable, Due 2032
14,795

 
14,795

4.75%
 
CoBank Note Payable, Due 2033
14,550

 
14,550

Total The Connecticut Water Company
134,731

 
134,762

The Maine Water Company:
 
 
 
8.95%
 
1994 Series G, Due 2024
9,000

 
9,000

2.68%
 
1999 Series J, Due 2019
424

 
474

0.00%
 
2001 Series K, Due 2031
697

 
739

2.58%
 
2002 Series L, Due 2022
83

 
90

1.53%
 
2003 Series M, Due 2023
381

 
401

1.73%
 
2004 Series N, Due 2024
451

 
451

0.00%
 
2004 Series O, Due 2034
133

 
140

1.76%
 
2006 Series P, Due 2026
431

 
451

1.57%
 
2009 Series R, Due 2029
237

 
242

0.00%
 
2009 Series S, Due 2029
695

 
717

0.00%
 
2009 Series T, Due 2029
1,949

 
2,012

0.00%
 
2012 Series U, Due 2042
166

 
171

1.00%
 
2013 Series V, Due 2033
1,385

 
1,410

2.52%
 
CoBank Note Payable, Due 2017
1,965

 
1,965

6.45%
 
BSWC Series M, Due 2014
2,700

 
2,700

7.72%
 
BSWC Series L, Due 2018
2,250

 
2,250

2.40%
 
BSWC Series N, Due 2022
1,251

 
1,297

1.86%
 
BSWC Series O, Due 2025
862

 
862

2.23%
 
BSWC Series P, Due 2028
1,354

 
1,354

Various
 
Various Capital Leases
55

 
70

Total The Maine Water Company
26,469

 
26,796

Add:  Acquisition Fair Value Adjustment
1,002

 
1,185

Less:  Current Portion
(4,234
)
 
(4,121
)
Total Long-Term Debt
$
173,916

 
$
175,042

Fair Value Disclosures Fair Value Disclosures (Tables)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following table summarizes our financial instruments measured at fair value on a recurring basis within the fair value hierarchy as of June 30, 2014 (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Asset Type:
 
 
 
 
 
 
 
Company Owned Life Insurance
$
—

 
$
2,948

 
$
—

 
$
2,948

Money Market Fund
27

 
—

 
—

 
27

Mutual Funds:
 

 
 

 
 

 
 

Equity Funds (1)
1,546

 
—

 
—

 
1,546

Total
$
1,573

 
$
2,948

 
$
—

 
$
4,521


The following table summarizes our financial instruments measured at fair value on a recurring basis within the fair value hierarchy as of December 31, 2013 (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Asset Type:
 
 
 
 
 
 
 
Company Owned Life Insurance
$
—

 
$
2,843

 
$
—

 
$
2,843

Money Market Fund
62

 
—

 
—

 
62

Mutual Funds:
 

 
 

 
 

 
 

Equity Funds (1)
1,528

 
—

 
—

 
1,528

Total
$
1,590

 
$
2,843

 
$
—

 
$
4,433

(1)
Mutual funds consist primarily of equity securities and are presented on the Other Property and Investments line item of the Company's Condensed Consolidated Balance Sheets.
Segment Reporting Segment Reporting (Tables)
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] 
Financial data for the segments is as follows (in thousands):
Three Months Ended June 30, 2014
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
25,810

 
$
8,837

 
$
1,745

 
$
7,092

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
1,476

 
655

 
257

 
398

Total
 
$
27,286

 
$
9,492

 
$
2,002

 
$
7,490

Three Months Ended June 30, 2013
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
22,854

 
$
6,379

 
$
2,445

 
$
3,934

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
1,477

 
634

 
258

 
376

Total
 
$
24,331

 
$
7,013

 
$
2,703

 
$
4,310

Six Months Ended June 30, 2014
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
46,430

 
$
11,755

 
$
2,110

 
$
9,645

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
2,888

 
1,365

 
534

 
831

Total
 
$
49,318

 
$
13,120

 
$
2,644

 
$
10,476

Six Months Ended June 30, 2013
Segment
 
Revenues
 
Pre-Tax Income
 
Income Tax Expense
 
Net Income
Water Activities
 
$
42,982

 
$
9,929

 
$
3,768

 
$
6,161

Real Estate Transactions
 
—

 
—

 
—

 
—

Services and Rentals
 
2,866

 
1,287

 
525

 
762

Total
 
$
45,848

 
$
11,216

 
$
4,293

 
$
6,923



Reconciliation of Assets from Segment to Consolidated [Table Text Block] 
Assets by segment (in thousands):
 
June 30,
2014
 
December 31,
2013
Total Plant and Other Investments:
 
 
 
Water Activities
$
490,848

 
$
478,560

Non-Water
744

 
704

 
491,592

 
479,264

Other Assets:
 
 
 
Water Activities
138,052

 
136,246

Non-Water
10,871

 
15,301

 
148,923

 
151,547

Total Assets
$
640,515

 
$
630,811

Basis of Preparation of Financials In text details (Details)
Jun. 30, 2014
Rate
Maine Water Company [Member]
 
Allowed Rate of Return on Equity
9.50% 
Allowed Return on Rate Base
7.96% 
The Connecticut Water Company [Member]
 
Allowed Rate of Return on Equity
9.75% 
Allowed Return on Rate Base
7.32% 
Pension and Other Post-Retirement Benefits Pension Benefit Cost (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Pension Plans, Defined Benefit [Member]
 
 
 
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
 
 
 
 
Defined Benefit Plan, Service Cost
$ 488 
$ 513 
$ 976 
$ 1,100 
Defined Benefit Plan, Interest Cost
763 
651 
1,526 
1,306 
Defined Benefit Plan, Expected Return on Plan Assets
(889)
(727)
(1,778)
(1,473)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
18 
19 
36 
37 
Defined Benefit Plan, Amortization of Gains (Losses)
273 
540 
546 
1,031 
Defined Benefit Plan, Net Periodic Benefit Cost
653 
996 
1,306 
2,001 
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
 
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
 
 
 
 
Defined Benefit Plan, Service Cost
154 
176 
308 
337 
Defined Benefit Plan, Interest Cost
160 
129 
320 
254 
Defined Benefit Plan, Expected Return on Plan Assets
(77)
(70)
(154)
(145)
Defined benefit plan amortization of regulatory assets
56 
56 
112 
112 
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
(201)
(202)
(402)
(403)
Defined Benefit Plan, Amortization of Gains (Losses)
68 
118 
136 
215 
Defined Benefit Plan, Net Periodic Benefit Cost
$ 160 
$ 207 
$ 320 
$ 370 
Pension and Other Post-Retirement Benefits In Text Linking (Details) (Pension Plans, Defined Benefit [Member], USD $)
6 Months Ended
Jun. 30, 2014
Pension Plans, Defined Benefit [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year
$ 3,426,000 
Earnings per Share Earnings per Share (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
 
 
Common Stock, Shares, Outstanding
11,097,506 
11,001,715 
11,097,506 
11,001,715 
11,038,232 
Weighted Average Number of Shares Outstanding, Basic
10,886,883 
10,818,883 
10,877,883 
10,811,100 
 
Diluted (in shares)
11,085,061 
10,988,813 
11,073,258 
10,976,812 
 
Basic (in dollars per share)
$ 0.69 
$ 0.40 
$ 0.96 
$ 0.64 
 
Incremental Common Shares Attributal To Share Based Payements Arrangements
$ (0.02)
$ (0.01)
$ (0.02)
$ (0.01)
 
Earnings Per Share, Diluted
$ 0.67 
$ 0.39 
$ 0.94 
$ 0.63 
 
Earnings per Share EPS in Text Tagging (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
 
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition
1 year 5 months 25 days 
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized
$ 1.5 
Accumulated Other Comprehensive Income (Loss) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2013
Dec. 31, 2012
Amounts Recognized in Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, before Tax
$ 0 
$ 1 
$ 0 
$ 1 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax
0 
0 
0 
0 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax
0 
1 
0 
1 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, before Tax
0 
3 
18 
21 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Tax
0 
(2)
(7)
(9)
 
 
 
 
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax
0 
(40)
0 
(40)
0 
0 
(41)
(41)
Accumulated Other Comprehensive Loss
45 
(1,207)
45 
(1,207)
(57)
(115)
(1,305)
(1,328)
Other Comprehensive Income Loss Derivatives Before Reclassification Adjustments Net Of Tax
0 
0 
0 
0 
 
 
 
 
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax
0 
1 
0 
1 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax
0 
1 
11 
12 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax
74 
120 
148 
112 
 
 
 
 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax
(13)
(28)
(26)
(45)
 
 
 
 
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax
297 
122 
297 
122 
256 
259 
117 
69 
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax
(252)
(1,289)
(252)
(1,289)
(313)
(374)
(1,381)
(1,356)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax
41 
4 
27 
41 
 
 
 
 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax
0 
0 
0 
0 
 
 
 
 
Total Other Comprehensive Income Before Reclassification, Net of Tax
41 
4 
27 
41 
 
 
 
 
Other Comprehensive Income Loss Reclassification Adjustment Derivatives Included In Net Income Net Of Tax
0 
1 
0 
1 
 
 
 
 
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Net of Tax
61 
92 
122 
67 
 
 
 
 
Total Amounts Reclassified From AOCI, Net of Tax
61 
94 
133 
80 
 
 
 
 
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax
41 
5 
38 
53 
 
 
 
 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax
61 
92 
122 
67 
 
 
 
 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
$ 102 
$ 98 
$ 160 
$ 121 
 
 
 
 
Long-Term Debt Long-Term Debt (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
$ 173,916 
$ 175,042 
Long-term Debt, Current Maturities
(4,234)
(4,121)
Long-term Debt
173,916 
175,042 
Connecticut Water Service Term Loan Note and Supplement A [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
15,948 
16,420 
Subsidiaries [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Current Maturities
(134,731)
(134,762)
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series Issued 2004, Due 2029 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
12,500 
12,500 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2004 Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
5,000 
5,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series B Issued 2004 Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
4,550 
4,550 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2009, Due 2039 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
19,950 
19,950 
Subsidiaries [Member] |
CoBank Note Payable, Due 2020 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
8,000 
8,000 
Subsidiaries [Member] |
CoBank Note Payable Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
14,795 
14,795 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2011 Due 2021 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
23,571 
23,602 
Subsidiaries [Member] |
CoBank Note Payable Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
17,020 
17,020 
Subsidiaries [Member] |
CoBank Note Payable Due 2032 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
14,795 
14,795 
Subsidiaries [Member] |
CoBank Note Payable, Due 2033 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
14,550 
14,550 
Subsidiaries [Member] |
Maine Water Company Series G [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
9,000 
9,000 
Subsidiaries [Member] |
Maine Water Company Series J [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
424 
474 
Maine Water Company [Member] |
Maine Water Company Series K [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
697 
739 
Maine Water Company [Member] |
Maine Water Company Series L [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
83 
90 
Maine Water Company [Member] |
Maine Water Company Series M [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
381 
401 
Maine Water Company [Member] |
Maine Water Company Series N [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
451 
451 
Maine Water Company [Member] |
Maine Water Company Series O [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
133 
140 
Maine Water Company [Member] |
Maine Water Company Series P [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
431 
451 
Maine Water Company [Member] |
Maine Water Company Series R [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
237 
242 
Maine Water Company [Member] |
Maine Water Company Series S [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
695 
717 
Maine Water Company [Member] |
Maine Water Company Series T [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,949 
2,012 
Maine Water Company [Member] |
Fair Value Adjustment of Long-Term Debt Assume [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,002 
1,185 
Maine Water Company [Member] |
2012 Series U, Due 2042 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
166 
171 
Maine Water Company [Member] |
2013 Series V, Due 2033 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,385 
1,410 
Maine Water Company [Member] |
CoBank Note Payable, Due 2017 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Current Maturities
(1,965)
(1,965)
Biddeford & Saco Water Company [Member] |
Series M, Due 2014 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
2,700 
2,700 
Biddeford & Saco Water Company [Member] |
Series L, Due 2018 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
2,250 
2,250 
Biddeford & Saco Water Company [Member] |
Series N, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,251 
1,297 
Biddeford & Saco Water Company [Member] |
Series O, Due 2025 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
862 
862 
Biddeford & Saco Water Company [Member] |
Series P, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,354 
1,354 
Biddeford & Saco Water Company [Member] |
Long Term Capital Leases [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
55 
70 
Biddeford and Saco [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Current Maturities
$ (26,469)
$ (26,796)
Long-Term Debt Long-Term Debt Parenthetical (Details)
Jun. 30, 2014
Dec. 31, 2013
Connecticut Water Service Term Loan Note and Supplement A [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.09% 
4.09% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2009, Due 2039 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.10% 
5.10% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2011 Due 2021 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
Subsidiaries [Member] |
CoBank Note Payable, Due 2020 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
3.16% 
3.16% 
Subsidiaries [Member] |
CoBank Note Payable Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
3.51% 
3.51% 
Subsidiaries [Member] |
CoBank Note Payable Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.29% 
4.29% 
Subsidiaries [Member] |
CoBank Note Payable Due 2032 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.72% 
4.72% 
Subsidiaries [Member] |
CoBank Note Payable, Due 2033 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.75% 
4.75% 
Maine Water Company [Member] |
Maine Water Company Series G [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
8.95% 
8.95% 
Maine Water Company [Member] |
Maine Water Company Series J [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.68% 
2.68% 
Maine Water Company [Member] |
Maine Water Company Series K [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
0.00% 
0.00% 
Maine Water Company [Member] |
Maine Water Company Series L [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.58% 
2.58% 
Maine Water Company [Member] |
Maine Water Company Series M [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
1.53% 
1.53% 
Maine Water Company [Member] |
Maine Water Company Series N [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
1.73% 
1.73% 
Maine Water Company [Member] |
Maine Water Company Series O [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
0.00% 
0.00% 
Maine Water Company [Member] |
Maine Water Company Series P [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
1.76% 
1.76% 
Maine Water Company [Member] |
Maine Water Company Series R [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
1.57% 
1.57% 
Maine Water Company [Member] |
Maine Water Company Series S [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
0.00% 
0.00% 
Maine Water Company [Member] |
Maine Water Company Series T [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
0.00% 
0.00% 
Maine Water Company [Member] |
2012 Series U, Due 2042 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
0.00% 
0.00% 
Maine Water Company [Member] |
2013 Series V, Due 2033 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
1.00% 
1.00% 
Maine Water Company [Member] |
CoBank Note Payable, Due 2017 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
3.00% 
3.00% 
Biddeford & Saco Water Company [Member] |
Series M, Due 2014 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
6.45% 
6.45% 
Biddeford & Saco Water Company [Member] |
Series L, Due 2018 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
7.72% 
7.72% 
Biddeford & Saco Water Company [Member] |
Series N, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.40% 
2.40% 
Biddeford & Saco Water Company [Member] |
Series O, Due 2025 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
1.86% 
1.86% 
Biddeford & Saco Water Company [Member] |
Series P, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.23% 
2.23% 
Long-Term Debt Long-Term Debt in Text (Details) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Debt Instrument [Line Items]
 
 
 
Long-term Debt, Current Maturities
$ 4,234,000 
 
$ 4,121,000 
Proceeds from Issuance of Long-term Debt
0 
14,550,000 
 
Monetary Limit of Deceased Bond Holders Redemption per Year
25,000 
 
 
Percent Limit of Deceased Bond Holders Redemption per Year
3.00% 
 
 
Subsidiaries [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Long-term Debt, Current Maturities
$ 134,731,000 
 
$ 134,762,000 
Fair Value Disclosures Fair Value of Financial Instruments (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
$ 4,521 
$ 4,433 
Fair Value, Inputs, Level 1 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
1,573 
1,590 
Fair Value, Inputs, Level 2 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
2,948 
2,843 
Fair Value, Inputs, Level 3 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
0 
0 
Cash Surrender Value [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
2,948 
2,843 
Cash Surrender Value [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
0 
0 
Cash Surrender Value [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
2,948 
2,843 
Cash Surrender Value [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
0 
0 
Money Market Funds [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
27 
62 
Money Market Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
27 
62 
Money Market Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
0 
0 
Money Market Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
0 
0 
Equity Funds [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
1,546 
1,528 
Equity Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
1,546 
1,528 
Equity Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
0 
0 
Equity Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
$ 0 
$ 0 
Fair Value Disclosures In Text Tagging (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Long-term Debt, Fair Value
$ 186,526 
$ 178,526 
Long-term Debt
173,916 
175,042 
Advances for Construction
$ 28,018 
$ 28,718 
Segment Reporting Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
$ 27,286 
$ 24,331 
$ 49,318 
$ 45,848 
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest
9,492 
7,013 
13,120 
11,216 
Income Tax Expense (Benefit), Continuing Operations
2,002 
2,703 
2,644 
4,293 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
7,490 
4,310 
10,476 
6,923 
Water Activities [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
25,810 
22,854 
46,430 
42,982 
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest
8,837 
6,379 
11,755 
9,929 
Income Tax Expense (Benefit), Continuing Operations
1,745 
2,445 
2,110 
3,768 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
7,092 
3,934 
9,645 
6,161 
Real Estate Transactions [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
0 
0 
0 
0 
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest
0 
0 
0 
0 
Income Tax Expense (Benefit), Continuing Operations
0 
0 
0 
0 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
0 
0 
0 
0 
Services and Rentals [Member]
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
Revenues
1,476 
1,477 
2,888 
2,866 
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest
655 
634 
1,365 
1,287 
Income Tax Expense (Benefit), Continuing Operations
257 
258 
534 
525 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
$ 398 
$ 376 
$ 831 
$ 762 
Segment Reporting Segment Reporting Textual Information (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Segment Reporting Information [Line Items]
 
 
 
 
Operating Revenues
$ 25,459,000 
$ 22,545,000 
$ 45,719,000 
$ 42,274,000 
Regulated Operating Revenue, Other
351,000 
309,000 
711,000 
708,000 
Water Revenue Adjustment
$ 2,686,000 
 
$ 2,793,000 
 
Segment Reporting Assets by Segment (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]
 
 
Total Plant and Other Investments
$ 491,592 
$ 479,264 
Other Assets
148,923 
151,547 
Assets
640,515 
630,811 
Water Activities [Member]
 
 
Segment Reporting Information [Line Items]
 
 
Total Plant and Other Investments
490,848 
478,560 
Other Assets
138,052 
136,246 
Services and Rentals and Real Estate Combine [Member]
 
 
Segment Reporting Information [Line Items]
 
 
Total Plant and Other Investments
744 
704 
Other Assets
$ 10,871 
$ 15,301 
Income Tax Expense Income Tax Expense (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Rate
Jun. 30, 2013
Rate
Jun. 30, 2014
Rate
Jun. 30, 2013
Rate
Operating Loss Carryforwards [Line Items]
 
 
 
 
Reserve Against Fixed Capital Investment Credits Claimed in Prior Years
 
 
$ 2,000,000 
 
Effective Income Tax Rate, Continuing Operations
21.10% 
38.60% 
20.20% 
38.30% 
Effective Tax Rate Excluding Reserve Against Fixed Capital Investment Credits Claimed in Prior Years
14.80% 
 
17.10% 
 
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate
41.00% 
 
41.00% 
 
Lines of Credit Lines of Credit (Details) (USD $)
In Millions, unless otherwise specified
Jun. 30, 2014
Short-term Debt [Line Items]
 
Line of Credit Facility, Current Borrowing Capacity
$ 35 
Line of Credit Facility, Remaining Borrowing Capacity
35.0 
CTWS Line of Credit A [Member]
 
Short-term Debt [Line Items]
 
Line of Credit Facility, Current Borrowing Capacity
15 
CTWS Line of Credit B [Member]
 
Short-term Debt [Line Items]
 
Line of Credit Facility, Current Borrowing Capacity
$ 20