CONNECTICUT WATER SERVICE INC / CT, 10-K filed on 3/18/2013
Annual Report
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2012
Mar. 1, 2013
Jun. 30, 2012
Document and Enity Information [Abstract]
 
 
 
Entity Registrant Name
CONNECTICUT WATER SERVICE INC / CT 
 
 
Entity Central Index Key
0000276209 
 
 
Current Fiscal Year End Date
--12-31 
 
 
Entity Well-known Seasoned Issuer
No 
 
 
Entity Voluntary Filers
No 
 
 
Entity Current Reporting Status
Yes 
 
 
Entity Filer Category
Accelerated Filer 
 
 
Entity Public Float
 
 
$ 245,575,484 
Document Type
10-K 
 
 
Document Period End Date
Dec. 31, 2012 
 
 
Document Fiscal Year Focus
2012 
 
 
Document Fiscal Period Focus
FY 
 
 
Amendment Flag
false 
 
 
Entity Common Stock, Shares Outstanding
 
10,970,895 
 
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
ASSETS
 
 
Utility Plant
$ 611,787 
$ 487,540 
Construction Work in Progress
7,734 
6,160 
Gross Utility Plant
619,521 
493,700 
Accumulated Provision for Depreciation
(171,610)
(133,673)
Net Utility Plant
447,911 
360,027 
Other Property and Investments
6,394 
5,563 
Cash and Cash Equivalents
13,150 
1,012 
Accounts Receivable (Less Allowance, 2012 - $976; 2011 - $1,088)
11,526 
8,436 
Accrued Unbilled Revenues
7,233 
6,477 
Materials and Supplies
1,629 
1,126 
Prepayments and Other Current Assets
2,824 
1,830 
Total Current Assets
36,362 
18,881 
Restricted Cash
9,820 
15,930 
Unamortized Debt Issuance Expense
7,411 
7,296 
Unrecovered Income Taxes - Regulatory Asset
9,871 
7,355 
Pension Benefits - Regulatory Asset
18,319 
13,862 
Post-Retirement Benefits Other Than Pension - Regulatory Asset
3,022 
3,967 
Goodwill
31,685 
3,608 
Deferred Charges and Other Costs
8,180 
6,442 
Total Regulatory and Other Long-Term Assets
88,308 
58,460 
Total Assets
578,975 
442,931 
CAPITALIZATION AND LIABILITIES
 
 
Common Stock Without Par Value: Authorized - 25,000,000 Shares - Issued and Outstanding: 2012 - 8,848,848; 2011 - 8,755,398
134,873 
72,345 
Retained Earnings (Accumulated Deficit)
51,804 
46,669 
Accumulated Other Comprehensive Loss
(1,328)
(825)
Common Stockholders' Equity
185,349 
118,189 
Preferred Stock
772 
772 
Long-Term Debt
178,475 
135,256 
Total Capitalization
364,596 
254,217 
Debt, Current
1,304 
0 
Interim Bank Loans Payable
1,660 
21,372 
Accounts Payable and Accrued Expenses
10,016 
7,166 
Accrued Taxes
0 
302 
Accrued Interest
889 
1,002 
Other Current Liabilities
2,008 
586 
Total Current Liabilities
15,877 
30,428 
Advances for Construction
31,030 
32,517 
Contributions in Aid of Construction
77,372 
60,679 
Deferred Federal and State Income Taxes
40,869 
31,075 
Unfunded Future Income Taxes
8,992 
7,355 
Long-Term Compensation Arrangements
36,430 
25,232 
Unamortized Investment Tax Credits
1,490 
1,313 
Other Long-Term Liabilities
2,319 
115 
Total Long-Term Liabilities
198,502 
158,286 
Commitments and Contingencies
   
   
Total Capitalization and Liabilities
$ 578,975 
$ 442,931 
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Common Stock, Shares, Outstanding
10,939,486 
8,755,398 
8,676,849 
8,573,744 
CONSOLIDATED BALANCE SHEETS (Parentheticals)
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Common Stock, Shares, Outstanding
10,939,486 
8,755,398 
8,676,849 
8,573,744 
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating Revenues
$ 83,838 
$ 69,402 
$ 66,408 
Operating Expenses
 
 
 
Operation and Maintenance
40,326 
32,662 
33,105 
Depreciation
9,782 
7,773 
7,088 
Income Taxes
6,422 
6,966 
5,323 
Taxes Other Than Income Taxes
7,699 
6,441 
6,271 
Organizational Review Charge
0 
0 
786 
Total Operating Expenses
64,229 
53,842 
52,573 
Net Operating Revenues
19,609 
15,560 
13,835 
Other Utility Income, Net of Taxes
812 
847 
742 
Total Utility Operating Income
20,421 
16,407 
14,577 
Other Income (Deductions), Net of Taxes
 
 
 
Gain (Loss) on Real Estate Transactions
951 
176 
230 
Non-Water Sales Earnings
1,424 
1,001 
899 
Allowance for Funds Used During Construction
238 
188 
171 
Other
(813)
(798)
(226)
Total Other Income, Net of Taxes
1,800 
567 
1,074 
Interest and Debt Expense
 
 
 
Interest on Long-Term Debt
7,612 
4,602 
4,628 
Other Interest Charges
575 
651 
784 
Amortization of Debt Expense
394 
421 
441 
Total Interest and Debt Expense
8,581 
5,674 
5,853 
Net Income
13,640 
11,300 
9,798 
Preferred Stock Dividend Requirement
38 
38 
38 
Net Income Applicable to Common Stock
13,602 
11,262 
9,760 
Weighted Average Common Shares Outstanding:
 
 
 
Basic (in shares)
8,763,000 
8,610,000 
8,532,000 
Diluted (in shares)
8,900,000 
8,720,000 
8,633,000 
Earnings Per Common Share:
 
 
 
Basic (in dollars per share)
$ 1.55 
$ 1.31 
$ 1.14 
Diluted (in dollars per share)
$ 1.53 
$ 1.29 
$ 1.13 
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent
3 
3 
3 
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent
(566)
(361)
16 
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax
60 
(31)
47 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
(503)
(389)
66 
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
$ 13,099 
$ 10,873 
$ 9,826 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net Income
$ 1,593 
$ 5,974 
$ 4,163 
$ 1,910 
$ 1,828 
$ 3,734 
$ 3,470 
$ 2,268 
$ 13,640 
$ 11,300 
$ 9,798 
Other Comprehensive Income, net of tax
 
 
 
 
 
 
 
 
 
 
 
Qualified Cash Flow Hedging Instrument Expense, net of tax benefit of $1 for three months ended September 30, 2012 and 2011 and $1 for nine months ended September 30, 2012 and 2011
 
 
 
 
 
 
 
 
3 
3 
3 
Reclassification to Pension and Post-Retirement Benefits Other Than Pension, net of tax benfit of $15 and $3 for the three months ended September 30, 2012 and 2011 and $46 and $8 for the nine months ended September 30, 2012 and 2011
 
 
 
 
 
 
 
 
(566)
(361)
16 
Unrealized gain (loss) on investments, net of tax (expense) benefit of $(20) and $49 for the three months ended September 30, 2012 and 2011 and $(41) and $50 for the nine months ended September 30, 2012 and 2011
 
 
 
 
 
 
 
 
60 
(31)
47 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
 
 
 
 
 
 
 
 
(503)
(389)
66 
Comprehensive Income
 
 
 
 
 
 
 
 
$ 13,099 
$ 10,873 
$ 9,826 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Other Comprehensive Income, net of tax
 
 
 
Qualified Cash Flow Hedging Instrument Expense, net of tax (benefit) expense of
$ 1,000 
$ 1,000 
$ 1,000 
Reclassification to Pension and Post-Retirement Benefits Plans, net of tax (benefit) expense of
(389,000)
(231,000)
12,000 
Unrealized Investment loss, net of tax expense (benefit) of
$ 40,000 
$ 31,000 
$ 30,000 
CONSOLIDATED STATEMENTS OF RETAINED EARNINGS (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Balance at Beginning of Period
 
 
 
$ 46,669 
 
 
 
$ 43,603 
$ 46,669 
$ 43,603 
$ 41,785 
Net Income
1,593 
5,974 
4,163 
1,910 
1,828 
3,734 
3,470 
2,268 
13,640 
11,300 
9,798 
Dividends Declared:
 
 
 
 
 
 
 
 
 
 
 
Cumulative Preferred, Class A, $0.20 per share
 
 
 
 
 
 
 
 
38 
38 
38 
Common Stock - 2012 $0.2375 per share; 2011 $0.2325 per share
 
 
 
 
 
 
 
 
8,467 
8,196 
7,942 
Total Dividends Declared
 
 
 
 
 
 
 
 
8,505 
8,234 
7,980 
Balance at End of Period
51,804 
 
 
 
46,669 
 
 
 
51,804 
46,669 
43,603 
Series A Voting
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared:
 
 
 
 
 
 
 
 
 
 
 
Cumulative Preferred, Class A, $0.20 per share
 
 
 
 
 
 
 
 
12 
12 
12 
Cumulative Preferred Stock
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared:
 
 
 
 
 
 
 
 
 
 
 
Cumulative Preferred, Class A, $0.20 per share
 
 
 
 
 
 
 
 
$ 26 
$ 26 
$ 26 
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Stock Issued During Period, Value, Acquisitions
$ 12,012 
$ 0 
$ 0 
Operating Activities:
 
 
 
Net Income
13,640 
11,300 
9,798 
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
 
 
 
Deferred Revenues
239 
239 
239 
Allowance for Funds Used During Construction
(239)
(188)
(171)
Depreciation (including $330 and $604 in 2012 and 2011 charged to other accounts)
10,052 
8,585 
7,894 
Gain (Loss) on Sale of Properties
(951)
(176)
(230)
Change in Assets and Liabilities:
 
 
 
Increase in Accounts Receivable and Accrued Unbilled Revenues
(1,333)
1,566 
(4,561)
Increase in Prepayments and Other Current Assets
(24)
40 
(380)
Decrease in Other Non-Current Items
5,645 
2,681 
968 
Increase in Accounts Payable, Accrued Expenses and Other Current Liabilities
166 
138 
1,272 
Increase in Deferred Income Taxes and Investment Tax Credits, Net
(826)
2,164 
1,938 
Total Adjustments
12,729 
15,049 
6,969 
Net Cash and Cash Equivalents Provided by Operating Activities
26,369 
26,349 
16,767 
Investing Activities:
 
 
 
Company Financed Additions to Utility Plant
(24,653)
(22,858)
(26,240)
Advances from Others for Construction
(1,041)
(966)
(281)
Net Additions to Utility Plant Used in Continuing Operations
(25,694)
(23,824)
(26,521)
Purchase of Customer Contracts
0 
0 
900 
Purchase of water systems, net of cash acquired
(35,754)
(216)
(297)
Proceeds from Sale of Land Held-for-investment
1,450 
0 
0 
Release of restricted cash
6,117 
1,226 
11,460 
Net Cash and Cash Equivalents Used in Investing Activities
(53,881)
(22,814)
(16,258)
Financing Activities:
 
 
 
Proceeds from Interim Bank Loans
1,660 
21,372 
26,342 
Repayment of Interim Bank Loans
(21,372)
(26,342)
(25,000)
Proceeds from Issuance of Common Stock
51,101 
1,346 
1,358 
Proceeds from Issuance of Long-term Debt
92,840 
8,061 
0 
Proceeds from the Exercise of Stock Options
631 
146 
287 
Costs to Issue Long-Term Debt and Common Stock
(2,316)
(380)
(2)
Repayment of Long-Term Debt Including Current Portion
(75,430)
(410)
(280)
Advances from Others for Construction
1,041 
966 
281 
Cash Dividends Paid
(8,505)
(8,234)
(7,980)
Net Cash and Cash Equivalents (Used in) Provided by Financing Activities
39,650 
(3,475)
(4,994)
Net Increase in Cash and Cash Equivalents
12,138 
60 
(4,485)
Cash and Cash Equivalents at Beginning of Period
1,012 
952 
5,437 
Cash and Cash Equivalents at End of Year
13,150 
1,012 
952 
Non-Cash Investing and Financing Activities:
 
 
 
Non-Cash Contributed Utility Plant
1,089 
334 
707 
Short-term Investment of Bond Proceeds Held in Restricted Cash
9,820 
15,930 
1,226 
Cash Paid for:
 
 
 
Interest
8,488 
5,432 
5,478 
State and Federal Income Taxes
$ 6,161 
$ 5,347 
$ 3,814 
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Depreciation charged to other accounts
$ 270 
$ 812 
$ 806 
CONSOLIDATED STATEMETS OF INCOME (Parentheticals) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Qualified Cash Flow Hedging Instrument Expense, net of tax (benefit) expense of
$ 1,000 
$ 1,000 
$ 1,000 
Reclassification to Pension and Post-Retirement Benefits Plans, net of tax (benefit) expense of
(389,000)
(231,000)
12,000 
Unrealized Investment loss, net of tax expense (benefit) of
$ 40,000 
$ 31,000 
$ 30,000 
Summary of Significant Accounting Policies
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]
NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION – The consolidated financial statements include the operations of Connecticut Water Service, Inc. (the “Company”), an investor-owned holding company and its wholly-owned subsidiaries, including:

The Connecticut Water Company (“Connecticut Water”)
The Maine Water Company (“Maine Water”)
The Biddeford & Saco Water Company (“BSWC”)
Chester Realty, Inc. (“Chester Realty”)
New England Water Utility Services, Inc. (“NEWUS”)
Barnstable Holding Company (“Barnstable Holding”)

As of December 31, 2012, Connecticut Water, Maine Water and BSWC were our regulated public water utility companies (collectively the “Regulated Companies”), which served 121,791 customers in 76 towns throughout Connecticut and Maine.

Chester Realty is a real estate company whose net profits from rental of property are included in the Other Income (Deductions), Net of Taxes section of the Consolidated Statements of Income in the Non-Water Sales Earnings category.

NEWUS is engaged in water-related services, including the Linebacker® program, emergency drinking water, pool water and contract operations.  Its earnings are included in the Non-Water Sales Earnings category of the Consolidated Statements of Income.

The Company has evaluated all subsequent events through the date the financial statements were issued.

Intercompany accounts and transactions have been eliminated.

Certain reclassifications have been made to conform previously reported data to the current presentation. In addition to these reclassifications, the prior year financial statements have been revised to adjust the unfunded future income taxes related to plant and pension and other postretirement benefits. The adjustment was recorded to the prior year consolidated balance sheet which resulted in a decrease to the unfunded future income taxes by $21.9 million and a decrease to the associated unrecovered income taxes - regulatory asset by $21.9 million.

PUBLIC UTILITY REGULATION – Connecticut Water is subject to regulation for rates and other matters by the Connecticut Public Utility Regulatory Authority (“PURA”), formerly the Department of Public Utility Control and follows accounting policies prescribed by the PURA.  Maine Water and BSWC are subject to regulation for rates and other matters by the Maine Public Utilities Commission ("MPUC"). The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which includes the provisions of Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 980 “Regulated Operations” (“FASB ASC 980”).  FASB ASC 980 requires cost-based, rate-regulated enterprises, such as Connecticut Water, to reflect the impact of regulatory decisions in their financial statements. The state regulators, through the rate regulation process, can create regulatory assets that result when costs are allowed for ratemaking purposes in a period after the period in which the costs would be charged to expense by an unregulated enterprise.  The balance sheets include regulatory assets and liabilities as appropriate, primarily related to income taxes and post-retirement benefit costs.  In accordance with FASB ASC 980, costs which benefit future periods, such as tank painting, are expensed over the periods they benefit. The Company believes, based on current regulatory circumstances, that the regulatory assets recorded are likely to be recovered and that its use of regulatory accounting is appropriate and in accordance with the provisions of FASB ASC 980.

Regulatory assets and liabilities are comprised of the following:

(in thousands)
December 31,
 
2012
 
2011
Assets:

 

Pension and postretirement benefits
$
21,341

 
$
17,829

Unrecovered income taxes and other
9,871

 
7,355

Deferred revenue (included in deferred charges)
3,644

 
3,883

Other (included in deferred charges)
3,151

 
2,464

Total regulatory assets
$
38,007

 
$
31,531

Liabilities:
 

 
 

Other (included in other current liabilities)
$
499

 
$
—

Unamortized Investment Tax Credits
1,490

 
1,313

Unfunded future income taxes and other
11,215

 
7,355

Total regulatory liabilities
$
13,204

 
$
8,668



Pension and postretirement benefits include costs in excess of amounts funded.  The Company believes these costs will be recoverable in future years, through rates, as funding is required and has recorded regulatory assets for those costs.  The recovery period is dependent on contributions made to the plans and the discount rate used to value the obligations.

Certain items giving rise to deferred state income taxes, as well as a portion of deferred federal income taxes related primarily to differences between book and tax depreciation expense, are recognized for ratemaking purposes on a cash or flow-through basis and will be recovered in rates in future years as they reverse.

Deferred revenue represents a portion of the rate increase granted in Connecticut Water’s 2007 rate decision.  The regulator’s decision required the Company to defer for future collection, beginning in 2008, a portion of the increase.

Regulatory liabilities include deferred investment tax credits.  These liabilities will be given back to customers in rates as tax deductions occur in the future.

USE OF ESTIMATES – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.

REVENUES – The Company’s accounting policies regarding revenue recognition by segment are as follows:

Water Activities – Most of our water customers are billed quarterly, with the exception of larger commercial and industrial customers, as well as public and private fire protection customers who are billed monthly.  Most customers, except fire protection customers, are metered.  Revenues from metered customers are based on their water usage multiplied by approved, regulated rates and are earned when water is delivered.  Public fire protection revenues are based on the length of the water main, and number of hydrants in service and are earned on a monthly basis.  Private fire protection charges are based on the diameter of the connection to the water main.  Our Regulated Companies accrue an estimate for metered customers for the amount of revenues earned relating to water delivered but unbilled at the end of each quarter, which is reflected as Accrued Unbilled Revenues in the accompanying balance sheets.

Real Estate Transactions – Revenues are recorded when a sale or other transaction has been completed and title to the real estate has been transferred. Upon completion of any real estate transaction, the Company no longer has any continuing involvement in the property.

Services and Rentals – Revenues are recorded when the Company has delivered the services called for by contractual obligation.

UTILITY PLANT – Utility plant is stated at the original cost of such property when first devoted to public service.  Utility plant accounts are charged with the cost of improvements and replacements of property including an Allowance for Funds Used During Construction.  Retired or disposed of depreciable plant is charged to accumulated provision for depreciation together with any costs applicable to retirement, less any salvage received.  Maintenance of utility plant is charged to expense.  Accounting policies relating to other areas of utility plant are listed below:

Allowance For Funds Used During Construction – Allowance for Funds Used During Construction (AFUDC) is the cost of debt and equity funds used to finance the construction of utility plant. The amount shown on the Consolidated Statements of Income relates to the equity portion.  The debt portion is included as an offset to Other Interest Charges.  Generally, utility plant under construction is not recognized as part of rate base for ratemaking purposes until facilities are placed into service, and accordingly, AFUDC is charged to the construction cost of utility plant.  Capitalized AFUDC, which does not represent current cash income, is recovered through rates over the service lives of the facilities.

Our Regulated Companies’ allowed rate of return on rate base is used to calculate its AFUDC.

Customers’ Advances For Construction, Contributed Plant and Contributions In Aid Of Construction –Under the terms of construction contracts with real estate developers and others, the Regulated Companies periodically receive either advances for the costs of new main installations or title to the main after it is constructed and financed by the developer.  Refunds are made, without interest, as services are connected to the main, over periods not exceeding fifteen years and not in excess of the original advance.  Unrefunded balances, at the end of the contract period, are credited to contributions in aid of construction (CIAC) and are no longer refundable.

Utility Plant is added in two ways.  The majority of the Company’s plant additions occur from direct investment of Company funds that originated through operating activities or financings.  The Company manages the construction of these plant additions.  These plant additions are part of the Company’s depreciable utility plant and are generally part of rate base.  The Company’s rate base is a key component of how its regulated rates are set, and is recovered through the depreciation component of the Company’s rates.  The second way in which plant additions occur are through developer advances and contributions.  Under this scenario either the developer funds the additions through payments to the Company, who in turn manages the construction of the project, or the developer pays for the plant construction directly and contributes the asset to the Company after it is complete.  Plant additions that are financed by a developer, either directly or indirectly, are excluded from the Company’s rate base and not recovered through the rates process, and are also not depreciated.

The components that comprise Net Additions to Utility Plant during the last three years ending December 31 are as follows:

(in thousands)
2012
 
2011
 
2010
Additions to Utility Plant:

 

 

Company Financed
$
24,653

 
$
22,858

 
$
26,240

Allowance for Funds Used During Construction
239

 
188

 
171

Subtotal – Utility Plant Increase to Rate Base
24,892

 
23,046

 
26,411

Advances from Others for Construction
1,041

 
966

 
281

Net Additions to Utility Plant
$
25,933

 
$
24,012

 
$
26,692



Depreciation – Depreciation is computed on a straight-line basis at various rates as approved by the state regulator on a company by company basis.  Depreciation allows the Company to recover the investment in utility plant over its useful life.  The overall consolidated company depreciation rate, based on the average balances of depreciable property, was 2.0%, 1.8%, and 1.7% for 2012, 2011, and 2010, respectively.

INCOME TAXES – The Company provides income tax expense for its utility operations in accordance with the regulatory accounting policies of the applicable jurisdictions.  The Company's income tax provision is calculated on a separate return basis. The Connecticut PURA requires the flow-through method of accounting for most state tax temporary differences as well as for certain federal temporary differences. The MPUC requires the flow-through method of accounting for most state temporary differences and normalized accounting for most federal temporary differences.

The Company computed deferred tax liabilities for all temporary book-tax differences using the liability method prescribed in FASB ASC 740 “Income Taxes” (“FASB ASC 740”).  Under the liability method, deferred income taxes are recognized at currently enacted income tax rates to reflect the tax effect of temporary differences between the financial reporting and tax bases of assets and liabilities.  Such temporary differences are the result of provisions in the income tax law that either require or permit certain items to be reported on the income tax return in a different period than they are reported in the financial statements.  Deferred tax liabilities that have not been reflected in tax expense due to regulatory treatment are reflected as Unfunded Future Income Taxes, and are expected to be recoverable in future years’ rates.

The Company believes that deferred income tax assets will be realized in the future.  The majority of unfunded future income taxes relate to deferred state income taxes regarding book to tax depreciation differences.

Deferred Federal Income Taxes consist primarily of amounts that have been provided for accelerated depreciation subsequent to 1981, as required by federal income tax regulations.  Deferred taxes have also been provided for temporary differences in the recognition of certain expenses for tax and financial statement purposes as allowed by PURA ratemaking policies.

MUNICIPAL TAXES – Municipal taxes are reflected as Taxes Other than Income Taxes and are generally expensed over the twelve-month period beginning on July 1 following the lien date, corresponding with the period in which the municipal services are provided.

STOCK OPTIONS – In the past, the Company issued stock options to certain employees; but has not done so since 2003.  For more information regarding stock based compensation, see Note 13, Stock Based Compensation Plans.

UNAMORTIZED DEBT ISSUANCE EXPENSE – The issuance costs of long-term debt, including the remaining balance of issuance costs on long-term debt issues that have been refinanced prior to maturity, and related call premiums, are amortized over the respective lives of the outstanding debt, as approved by the PURA and the MPUC.

GOODWILL – As part of the purchase of regulated water companies, the Company recorded goodwill of $31.7 million representing the amount of the purchase price over net book value of the assets acquired.  The Company accounts for goodwill in accordance with Accounting Standards Codification 350 “Intangibles – Goodwill and Other” (“FASB ASC 350”). For a roll forward of the Company's goodwill balance, see Note 15.

As part of FASB ASC 350, the Company is required to perform an annual goodwill impairment test, which we perform as of December 31 each year. We update the test between the annual testing if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. The analysis of a potential impairment of goodwill requires a two step process. Step one of the test involves comparing the fair value of a reporting unit with its carrying value, including goodwill. If the carrying value of a reporting unit exceeds the reporting unit's fair value, step two must be performed to determine the amount, if any, of goodwill impairment loss. If the carrying value is less than fair value, further testing for goodwill impairment is not performed.

Step two of the goodwill impairment test involves comparing the implied fair value of the reporting unit's goodwill against the carrying value of the goodwill. In step two, determining the implied fair value of goodwill requires the valuation of a reporting unit's identifiable tangible and intangible assets and liabilities as if the reporting unit had been acquired in a business combination on the testing date. The difference between the fair value of the entire reporting unit as determined in step one and the net fair value of all identifiable assets and liabilities represents the implied fair value of the goodwill. The goodwill impairment charge, if any, would be the difference between the carrying amount of goodwill and the implied fair value of goodwill upon the completion of step two.

In performing the annual goodwill impairment test, for purposes of the step one analysis, the Company bases the determination of the fair value of its reporting unit on the income approach, which estimates the fair value based on discounted future cash flows. Based on the completion of step one of the annual impairment analysis, management determined that the fair value of the Water Activities reporting unit was greater than its carrying value.

We may be required to recognize an impairment of goodwill in the future due to market conditions or other factors that are beyond our control and unrelated to our performance. Those market events could include a decline in the forecasted results in our business plan, significant adverse rate case results, changes in capital investment budgets or changes in interest rates that could permanently impair the fair value of a reporting unit. Recognition of impairments of a significant portion of goodwill would negatively impact our reported results of operation and total capitalization, the effects of which could be material and could make it more difficult to maintain our credit ratings, secure financing on favorable terms, maintain compliance with debt covenants and meet expectations of our regulators.

EARNINGS PER SHARE – The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share for the years ended December 31:

Years ended December 31,
2012
 
2011
 
2010
Numerator (in thousands)

 

 

Basic Net Income Applicable to Common Stock
$
13,602

 
$
11,262

 
$
9,760

Diluted Net Income Applicable to Common Stock
$
13,602

 
$
11,262

 
$
9,760

Denominator (in thousands)
 

 
 

 
 

Basic Weighted Average Shares Outstanding
8,763

 
8,610

 
8,532

Dilutive Effect of Stock Awards
137

 
110

 
101

Diluted Weighted Average Shares Outstanding
8,900

 
8,720

 
8,633

Earnings per Share
 

 
 

 
 

Basic Earnings per Share
$
1.55

 
$
1.31

 
$
1.14

Dilutive Effect of Stock Awards
0.02

 
0.02

 
0.01

Diluted Earnings per Share
$
1.53

 
$
1.29

 
$
1.13



NEW ACCOUNTING PRONOUNCEMENTS – In February 2013, the FASB issued updated accounting guidance to improve the reporting of reclassifications out of accumulated other comprehensive income (“AOCI”). The update requires an entity to present information about the amounts reclassified from AOCI in their financial statements in either a single note or parenthetically on the face of the financial statements. The updated guidance is effective prospectively for reporting periods beginning after December 15, 2012. The Company will adopt the provisions of the updated guidance for its quarterly reporting period beginning January 1, 2013, and the Company does not expect the adoption of the revised guidance to have an impact on the Company's consolidated results of operations or consolidated financial position.
In May 2011, the FASB issued updated accounting guidance related to fair value measurements and disclosures that result in common fair value measurements and disclosures between U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards. This new guidance amends current fair value measurement and disclosure guidance to increase transparency around valuation inputs and investment categorization. This guidance is effective for interim and annual periods beginning on January 1, 2012 and is required to be applied prospectively. The adoption of this guidance in the first quarter of 2012 did not have a significant impact on the Company's consolidated results of operations or consolidated financial position.
Income Tax Expense
Income Taxes
NOTE 2:  INCOME TAX EXPENSE

Under ASC 740, we 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. From time to time, the Company is assessed interest and penalties by taxing authorities.  In those cases, the charges would appear on the Other line item on the Income Statement.  There were no such charges for the years ending December 31, 2012, 2011, and 2010.  Additionally, there were no accruals relating to interest, penalties, or uncertain tax positions as of December 31, 2012 and 2011.  The Company remains subject to examination by federal authorities for the 2010 and 2011 tax years, and the state authorities for the 2009 through 2011 tax years.  The Internal Revenue Service commenced an examination of the Company’s federal income tax return for the 2009 tax year during the second quarter of 2011.  The Company received notification in December of 2011 that no change will be made to the 2009 federal tax liability.

Income Tax Expense for the years ended December 31, is comprised of the following:

(in thousands)
 
2012
 
2011
 
2010
Federal Classified as Operating Expense
 
$
6,103

 
$
6,709

 
$
5,513

Federal Classified as Other Utility Income
 
427

 
424

 
368

Federal Classified as Other Income
 
 

 
 

 
 

Land Sales and Donations
 
477

 
(176
)
 
(230
)
Non-Water Sales
 
748

 
558

 
487

Other
 
(900
)
 
(276
)
 
(257
)
Total Federal Income Tax Expense
 
6,855

 
7,239

 
5,881

State Classified as Operating Expense
 
319

 
257

 
(190
)
State Classified as Other Utility Income
 
121

 
112

 
97

State Classified as Other Income
 
 

 
 

 
 

Land Sales and Donations
 
(97
)
 
—

 
—

Non-Water Sales
 
180

 
143

 
120

Other
 
(47
)
 
(75
)
 
(43
)
Total State Income Tax Expense
 
476

 
437

 
(16
)
Total Income Tax Expense
 
$
7,331

 
$
7,676

 
$
5,865



The components of the Federal and State income tax provisions are:

(in thousands)
 
2012
 
2011
 
2010
Current Income Taxes
 
 
 
 
 
 
Federal
 
$
4,747

 
$
5,002

 
$
3,902

State
 
511

 
428

 
338

Total Current
 
5,258

 
5,430

 
4,240

Deferred Income Taxes, Net
 
 

 
 

 
 

Federal
 
 

 
 

 
 

Investment Tax Credit
 
(71
)
 
(63
)
 
(61
)
Deferred Revenue
 
(77
)
 
(75
)
 
(75
)
Land Donations
 
29

 
392

 
201

Depreciation
 
2,411

 
1,990

 
1,909

Other
 
(184
)
 
(7
)
 
5

Total Federal
 
2,108

 
2,237

 
1,979

State
 
 

 
 

 
 

Land Donations
 
(83
)
 
—

 
—

Other
 
48

 
9

 
(354
)
Total State
 
(35
)
 
9

 
(354
)
Total Deferred Income Taxes
 
2,073

 
2,246

 
1,625

Total Income Tax
 
$
7,331

 
$
7,676

 
$
5,865



Deferred income tax (assets) and liabilities are categorized as follows on the Consolidated Balance Sheets:

(in thousands)
 
2012
 
2011
Unrecovered Income Taxes
 
$
(9,871
)
 
$
(7,355
)
Deferred Federal and State Income Taxes
 
40,869

 
31,075

Unfunded Future Income Taxes
 
8,992

 
7,355

Unamortized Investment Tax Credits
 
1,490

 
1,313

Other
 
(207
)
 
(185
)
Net Deferred Income Tax Liability
 
$
41,273

 
$
32,203



Net deferred income tax liability increased from December 31, 2011 to December 31, 2012 due to the current year tax effects of temporary differences mostly related to accelerated depreciations, and from the purchase of Maine Water and BSWC.

Deferred income tax (assets) and liabilities are comprised of the following:

(in thousands)
 
2012
 
2011
Tax Credit Carryforward (1)
 
$
(2,487
)
 
$
(2,533
)
Prepaid Income Taxes on CIAC
 
(66
)
 
4

Net Operating Loss Carryforwards (2)
 
(385
)
 
—

Other Comprehensive Income
 
(842
)
 
(486
)
Accelerated Depreciation
 
46,379

 
34,548

Unamortized Investment Tax Credits
 
1,490

 
1,313

Other
 
(2,816
)
 
(643
)
Net Deferred Income Tax Liability
 
$
41,273

 
$
32,203



(1)
State tax credit carry-forwards expire beginning in 2013 and ending in 2037.
(2)
Net operating loss carry-forwards expire beginning 2029 and ending in 2032.

The calculation of Pre-Tax Income is as follows:

(in thousands)
 
2012
 
2011
 
2010
Pre-Tax Income
 
 
 
 
 
 
Net Income
 
$
13,640

 
$
11,300

 
$
9,798

Income Taxes
 
7,331

 
7,676

 
5,865

Total Pre-Tax Income
 
$
20,971

 
$
18,976

 
$
15,663



In accordance with required regulatory treatment, deferred income taxes are not provided for certain timing differences. This treatment, along with other items, causes differences between the statutory income tax rate and the effective income tax rate.  The differences between the effective income tax rate recorded by the Company and the statutory federal tax rate are as follows:

 
 
2012
 
2011
 
2010
Federal Statutory Tax Rate
 
35.0
 %
 
34.0
 %
 
34.0
 %
Tax Effect Differences:
 
 

 
 

 
 

State Income Taxes Net of Federal Benefit
 
1.3
 %
 
1.5
 %
 
—
 %
Property Related Items
 
(0.1
)%
 
1.0
 %
 
—
 %
Charitable Contributions – Land Donation (Net of Valuation Allowance)
 
(0.3
)%
 
(0.9
)%
 
(1.5
)%
Pension Costs
 
1.6
 %
 
3.5
 %
 
1.8
 %
Unamortized Debt Expense
 
(2.6
)%
 
0.4
 %
 
0.5
 %
Other
 
0.1
 %
 
1.0
 %
 
2.6
 %
Effective Income Tax Rate
 
35.0
 %
 
40.5
 %
 
37.4
 %


In 2010, State Income Taxes Net of Federal Benefit was offset by additional generation of state credit recognized in the adjustment of prior year income taxes. In the fourth quarter of 2012, five bonds were refinanced allowing for the tax deduction of the associated debt issuance costs creating a decrease in the effective tax rate related to unamortized debt expense.
Common Stock
Common stock
NOTE 3:  COMMON STOCK

The Company has 25,000,000 authorized shares of common stock, no par value.  A summary of the changes in the common stock accounts for the period January 1, 2010 through December 31, 2012, appears below:

(in thousands, except share data)
Shares
 
Issuance Amount
 
Expense
 
Total
Balance, January 1, 2010
8,573,744

 
$
68,896

 
$
(1,610
)
 
$
67,286

Stock and equivalents issued through Performance Stock Program, Net of Forfeitures
31,282

 
1,077

 
—

 
1,077

Dividend Reinvestment Plan
57,749

 
1,358

 
—

 
1,358

Stock Options Exercised and Expensed
14,074

 
305

 
(2
)
 
303

Balance, December 31, 2010
8,676,849

 
$
71,636

 
$
(1,612
)
 
$
70,024

Stock and equivalents issued through Performance Stock Program, Net of Forfeitures
20,210

 
824

 
—

 
824

Dividend Reinvestment Plan
52,668

 
1,346

 
—

 
1,346

Stock Options Exercised and Expensed
5,671

 
152

 
(1
)
 
151

Balance, December 31, 2011
8,755,398

 
$
73,958

 
$
(1,613
)
 
$
72,345

Stock and equivalents issued through Performance Stock Program, Net of Forfeitures
34,301

 
1,213

 
—

 
1,213

Dividend Reinvestment Plan
50,048

 
1,486

 
—

 
1,486

Stock Options Exercised and Expensed
23,235

 
665

 
(3
)
 
662

Shares issued to acquire BSWC
380,254

 
12,012

 
(154
)
 
11,858

Shares issued in stock offering
1,696,250

 
49,615

 
(2,306
)
 
47,309

Balance, December 31, 2012 (1)
10,939,486

 
$
138,949

 
$
(4,076
)
 
$
134,873



(1)
Includes 43,315 restricted shares and 140,235 common stock equivalent shares issued through the Performance Stock Programs through December 31, 2012.

The Company may not pay any dividends on its common stock unless full cumulative dividends to the preceding dividend date for all outstanding shares of Preferred Stock of the Company have been paid or set aside for payment.  All such Preferred Stock dividends have been paid.
Retained Earnings
12 Months Ended
Dec. 31, 2012
Notes To Financial Statements [Abstract]
 
Retained Earnings
NOTE 4:  RETAINED EARNINGSThe summary of the changes in Retained Earnings for the period January 1, 2010 through December 31, 2012, appears below:(in thousands, except per share data) 2012 2011 2010Balance, beginning of year $46,669 $43,603 $41,785Net Income 13,640 11,300 9,798Sub-total 60,309 54,903 51,583Dividends declared:      Cumulative Preferred Stock, Series A, $0.80 per share 12 12 12Cumulative Preferred Stock, Series $0.90, $0.90 per share 26 26 26Common Stock:      $0.96, $0.94 and $0.92 per Common Share in 2012, 2011 and 2010, respectively 8,467 8,196 7,942Total Dividends Declared 8,505 8,234 7,980Balance, end of year $51,804 $46,669 $43,603 
Organizational Review
12 Months Ended
Dec. 31, 2012
Notes To Financial Statements [Abstract]
 
Organizational Review
NOTE 5:  2010 ORGANIZATIONAL REVIEWAs part of a broader organizational review to improve operating efficiencies, in 2010 Connecticut Water determined that a targeted reduction in workforce was appropriate.  During the third quarter of 2010, Connecticut Water terminated the employment of approximately 15 full time employees.  As a result of this action, Connecticut Water paid approximately $583,000 representing termination benefits, including severance payments and payments for accrued vacation.  All severance agreements were signed by the effected employees.  In addition to costs associated with severance, Connecticut Water also incurred approximately $122,000 related to employee benefits, including extension of medical benefits and the accelerated vesting of certain share based compensation and $81,000 related to outsourcing and legal fees.  Costs associated with this organizational review appear on the line “Organizational Review Charge” on the Consolidated Statements of Income and are considered part of Water Activities segment.  As of December 31, 2010, all payments related to the organizational review had been made. 
Fair Value Disclosures
Fair Value Disclosures
NOTE 6:  FAIR VALUE OF FINANCIAL INSTRUMENTS

FASB 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 December 31, 2012.  These instruments are included in Other Property and Investments on the Company’s Consolidated Balance Sheets:

(in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Asset Type:
 
 
 
 
 
 
 
Company owned life insurance
$
—

 
$
2,538

 
$
—

 
$
2,538

Money Market Fund
28

 
—

 
—

 
28

Mutual Funds:
 

 
 

 
 

 
 

Equity Funds (1)
1,046

 
—

 
—

 
1,046

Total
$
1,074

 
$
2,538

 
$
—

 
$
3,612


The following table summarizes our financial instruments measured at fair value on a recurring basis within the fair value hierarchy as of December 31, 2011.  These instruments are included in Other Property and Investments on the Company’s Consolidated Balance Sheets:

(in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Asset Type:
 
 
 
 
 
 
 
Company owned life insurance
$
—

 
$
2,269

 
$
—

 
$
2,269

Money Market Fund
28

 
—

 
—

 
28

Mutual Funds:
 

 
 

 
 

 
 

Equity Funds (1)
852

 
—

 
—

 
852

Total
$
880

 
$
2,269

 
$
—

 
$
3,149


(1)
Mutual funds consisting primarily of equity securities.

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.

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

RESTRICTED CASH – As part of the December 2011 bond offerings, described in Note 7 to the Notes to the Consolidated Financial Statements, the Company recorded unused proceeds from these bond issuances as restricted cash as the funds can only be used for certain capital expenditures.  The Company expects to use the remainder of the 2011 proceeds during 2013, as the approved capital expenditures are completed.  The carrying amount approximates fair value.

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 and similar marketable securities.  As of December 31, 2012 and 2011, the estimated fair value of the Company's long-term debt was $194,900,000 and $135,084,000, respectively, as compared to the carrying amounts of $178,475,000 and $135,256,000, respectively. Under the fair value hierarchy, long-term debt has been categorized as Level 2 because the valuations are calculated using models which utilize active trading market data which the Company can corroborate.

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.
Long-Term Debt
Long-Term Debt
NOTE 7:  LONG-TERM DEBT

Long-Term Debt at December 31, consisted of the following:

 
2012
 
2011
Connecticut Water Service, Inc.:
 
 
 
4.09%
 
Term Loan Note and Supplement A
$
17,337

 
$
—

The Connecticut Water Company:
 
 
 
Unsecured Water Facilities Revenue Bonds
 
 
 
5.05%
 
1998 Series A, Due 2028
—

 
9,550

5.125%
 
1998 Series B, Due 2028
—

 
7,495

4.40%
 
2003A Series, Due 2020
—

 
8,000

5.00%
 
2003C Series, Due 2022
—

 
14,795

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

5.00%
 
2005 A Series, Due 2040
—

 
14,805

5.00%
 
2007 A Series, Due 2037
14,550

 
14,570

5.10%
 
2009 A Series, Due 2039
19,950

 
20,000

5.00%
 
2011 A Series, Due 2021
23,797

 
23,991

3.16%
 
CoBank Note Payable, Due 2020
8,000

 
—

3.51%
 
CoBank Note Payable, Due 2022
14,795

 
—

4.29%
 
CoBank Note Payable, Due 2028
17,020

 
—

4.72%
 
CoBank Note Payable, Due 2032
14,795

 
—

Total The Connecticut Water Company
134,957

 
135,256

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

 
—

2.68%
 
1999 Series J, Due 2019
524

 
—

0.00%
 
2001 Series K, Due 2031
780

 
—

2.58%
 
2002 Series L, Due 2022
98

 
—

1.53%
 
2003 Series M, Due 2023
421

 
—

1.73%
 
2004 Series N, Due 2024
471

 
—

0.00%
 
2004 Series O, Due 2034
147

 
—

1.76%
 
2006 Series P, Due 2026
471

 
—

1.57%
 
2009 Series R, Due 2029
247

 
—

0.00%
 
2009 Series S, Due 2029
762

 
—

0.00%
 
2009 Series T, Due 2029
2,137

 
—

0.00%
 
2012 Series U, Due 2042
177

 
—

2.52%
 
CoBank Note Payable, Due 2017
1,965

 
—

Total The Maine Water Company
17,200

 
—

The Biddeford & Saco Water Company
 
 
 
6.45%
 
Series M, Due 2014
2,700

 
—

7.72%
 
Series L, Due 2018
2,250

 
—

2.40%
 
Series N, Due 2022
1,297

 
—

1.86%
 
Series O, Due 2025
862

 
—

2.23%
 
Series P, Due 2028
1,354

 
—

Various
 
Various Capital Leases
126

 
—

Total The Biddeford & Saco Water Company
8,589

 
—

Add:  Acquisition Fair Value Adjustment
1,696

 
—

Less:  Current Portion
(1,304
)
 
—

Total Long-Term Debt
$
178,475

 
$
135,256


The Company's required principal payments for the years 2013 through 2017 are as follows:

2013
 
$
1,304

2014
 
$
4,103

2015
 
$
2,442

2016
 
$
2,486

2017
 
$
4,501



In December 2011, Connecticut Water borrowed $22.05 million through the issuance of Water Facilities Revenue Bonds by the Connecticut Development Authority (Authority).  The Company received approximately $24,000,000 in cash in exchange for the issuance of bonds with an aggregate principal amount of $22,050,000 with a maturity date of December 20, 2021 and a 5% coupon.  The Company recorded a bond premium in connection with this transaction and will amortize that premium over the life of the bond.  The proceeds from the sale of the bonds will be used to finance construction and installation of various capital improvements to the Company’s existing water system.

There are no mandatory sinking fund payments required on Connecticut Water’s outstanding Unsecured Water Facilities Revenue Refinancing 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.

Financial Covenants – The Company is 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%. The Company is in compliance with all covenants at December 31, 2012.
Preferred Stock
12 Months Ended
Dec. 31, 2012
Notes To Financial Statements [Abstract]
 
Preferred Stock
NOTE 8:  PREFERRED STOCKThe Company’s Preferred Stock at December 31, consisted of the following:(in thousands, except share data) 2012 2011Connecticut Water Service, Inc.    Cumulative Series A Voting, $20 Par Value; Authorized, Issued and Outstanding 15,000 Shares $300 $300Cumulative Series $0.90 Non-Voting, $16 Par Value; Authorized 50,000 Shares, Issued and Outstanding 29,499 472 472Total Preferred Stock $772 $772All or any part of any series of either class of the Company's issued Preferred Stock may be called for redemption by the Company at any time.  The per share redemption prices of the Series A and Series $0.90 Preferred Stock, if called by the Company, are $21.00 and $16.00, respectively.The Company is authorized to issue 400,000 shares of an additional class of Preferred Stock, $25 par value, the general preferences, voting powers, restrictions and qualifications of which are similar to the Company's existing Preferred Stock.  No shares of the $25 par value Preferred Stock have been issued.The Company is also authorized to issue 1,000,000 shares of $1 par value Preference Stock, junior to the Company's existing Preferred Stock in rights to dividends and upon liquidation of the Company.  150,000 of such shares have been designated as “Series A Junior Participating Preference Stock”. 
Lines of Credit
Lines of Credit
NOTE 9:  BANK LINES OF CREDIT

On June 30, 2009, the Company entered into a $15 million line of credit agreement with CoBank, ACB, which was amended in May 2010, July 2011 and September 2012 and is currently scheduled to mature on July 1, 2014.  On October 12, 2012, the Company increased an additional line of credit from $15 million to $20 million, and extended its expiration date to June 30, 2014.  Due to the acquisition of BSWC, the total lines of credit available to the Company increased to $37.25 million, due to BSWC's $2.25 million line of credit expiring June 30, 2013.  Interim Bank Loans Payable at December 31, 2012 and 2011 was approximately $1.7 million and $21.4 million, respectively, and represents the outstanding aggregate balances on these lines of credit.  As of December 31, 2012, the Company had $35.55 million in unused lines of credit.  Interest expense charged on interim bank loans will fluctuate based on market interest rates.

At December 31, 2012 and 2011, the weighted average interest rates on these short-term borrowings outstanding were 2.04% and 2.19%, respectively.
Utility Plant
Utility Plant
The components of utility plant and equipment at December 31, were as follows:

(in thousands)
2012
 
2011
Land
$
12,512

 
$
10,623

Source of supply
33,627

 
29,687

Pumping
35,337

 
30,653

Water treatment
75,684

 
56,799

Transmission and distribution
411,923

 
325,174

General
47,444

 
39,619

Held for future use
437

 
472

Acquisition Adjustment
(5,177
)
 
(5,487
)
Total
$
611,787

 
$
487,540

NOTE 10:  UTILITY PLANT

The components of utility plant and equipment at December 31, were as follows:

(in thousands)
2012
 
2011
Land
$
12,512

 
$
10,623

Source of supply
33,627

 
29,687

Pumping
35,337

 
30,653

Water treatment
75,684

 
56,799

Transmission and distribution
411,923

 
325,174

General
47,444

 
39,619

Held for future use
437

 
472

Acquisition Adjustment
(5,177
)
 
(5,487
)
Total
$
611,787

 
$
487,540



The amounts of depreciable utility plant at December 31, 2012 and 2011 included in total utility plant were $559,109,000 and $437,241,000, respectively.  Non-depreciable plant is primarily funded through CIAC.
Taxes Other than Income Taxes
12 Months Ended
Dec. 31, 2012
Notes To Financial Statements [Abstract]
 
Taxes Other Than Income Taxes
NOTE 11:  TAXES OTHER THAN INCOME TAXESTaxes Other than Income Taxes consist of the following:(in thousands) 2012 2011 2010Municipal Property Taxes $6,567 $5,529 $5,293Payroll Taxes 1,132 912 978Total Taxes Other than Income Taxes $7,699 $6,441 $6,271 
Pension and Other Post-Retirement Benefits
Pension and Other Post-Retirement Benefits
NOTE 12:  LONG-TERM COMPENSATION ARRANGEMENTS

The Company has accrued for the following long-term compensation arrangements as of December 31, 2012 and 2011:

(in thousands)
2012
 
2011
Defined Benefit Pension Plan
$
22,139

 
$
12,319

Post Retirement Benefit Other than Pension
6,243

 
6,431

Supplemental Executive Retirement Plan
6,224

 
4,843

Deferred Compensation
1,639

 
1,411

Other Long-Term Compensation
185

 
228

Total Long-Term Compensation Arrangements
$
36,430

 
$
25,232



Investment Strategy – The Corporate Finance and Investment Committee (the Committee) reviews and approves the investment strategy of the investments made on behalf of various pension and post-retirement benefit plans existing under the Company and certain of its subsidiaries.  The Company uses a variety of mutual funds, managed by different fund managers, to achieve its investment goals.  The Committee wants to ensure that the plans establish a target mix that is expected to achieve investment objectives, by assuring a broad diversification of investment assets among investment types, while avoiding short-term changes to the target asset mix, unless unusual market conditions make such a move appropriate to reduce risk.

The targeted asset allocation ratios for those plans as set by the Committee at December 31, 2012 and 2011:


2012
 
2011
Equity
65
%
 
65
%
Fixed Income
35
%
 
35
%
Total
100
%
 
100
%


The Committee recognizes that a variation of up to 5% in either direction from its targeted asset allocation mix is acceptable due to market fluctuations.

Our expected long-term rate of return on the various benefit plan assets is based upon the plan’s expected asset allocation, expected returns on various classes of plan assets as well as historical returns.  The expected long-term rate of return on the Company’s pension plan assets is 7.25%.

PENSION
Defined Benefit Plan – The Company and certain of its subsidiaries have a noncontributory defined benefit pension plan covering qualified employees.  In general, the Company’s policy is to fund accrued pension costs as permitted by federal income tax and Employee Retirement Income Security Act of 1974 regulations.  The Company amortizes actuarial gains and losses over the average remaining service period of active participants, without regard to a specified corridor of a percentage of the greater of the obligation or market-related value of assets.  A contribution of $585,000 was made in 2012 for the 2011 plan year.  The Company expects to make a contribution of $2,490,000 in 2013 for the 2012 plan year.

The Company has amended its pension plan to exclude employees hired after January 1, 2009.

The Company's pension plan was amended by the Board of Directors in 2012 primarily to admit current Maine Water and former Aqua Maine employees to participate under the terms and provisions in effect for Aqua Maine upon the purchase of Maine Water by the Company.

The following tables set forth the benefit obligation and fair value of the assets of the Company’s retirement plans at December 31, the latest valuation date:

Pension Benefits (in thousands)
2012
 
2011
Change in benefit obligation:
 
 
 
Benefit obligation, beginning of year
$
49,102

 
$
40,758

Service cost
2,020

 
1,523

Interest cost
2,570

 
2,134

Actuarial loss (gain)
14,494

 
5,878

Benefits paid
(1,685
)
 
(1,191
)
Benefit obligation, end of year
$
66,501

 
$
49,102

Change in plan assets:
 

 
 

Fair value, beginning of year
$
36,783

 
$
36,990

Actual return on plan assets
9,723

 
(216
)
Employer contributions
585

 
1,200

Benefits paid
(1,685
)
 
(1,191
)
Fair value, end of year
$
45,406

 
$
36,783

Funded Status
$
(21,095
)
 
$
(12,319
)
Amount Recognized in Consolidated Balance Sheets Consisted of:
 

 
 

Non-current asset
$
—

 
$
—

Current liability
—

 
—

Non-current liability
(21,095
)
 
(12,319
)
Net amount recognized
$
(21,095
)
 
$
(12,319
)


The accumulated benefit obligation for all defined benefit pension plans was approximately $56,967,000 and $41,855,000 at December 31, 2012 and 2011, respectively.

Weighted-average assumptions used to determine benefit obligations at December 31:
2012
 
2011
Discount rate
4.05
%
 
4.60
%
Rate of compensation increase
3.50
%
 
3.50
%

Weighted-average assumptions used to determine net periodic cost for years ended December 31:
2012
 
2011
 
2010
Discount rate
4.60
%
 
5.50
%
 
5.95
%
Expected long-term return on plan assets
7.25
%
 
7.25
%
 
8.00
%
Rate of compensation increase
3.50
%
 
3.50
%
 
4.50
%


Prior to the year ended December 31, 2007, the Company used Moody’s AA Corporate Bond Yields when selecting its Discount Rate for each of the pension plan.  Beginning with the year ended December 31, 2007, in an attempt to move away from generic yield curves and indices, the Company used a spot yield curve that attempts to mimic expected benefit payments.  Through December 31, 2010, the Company based its discount rate assumption on a single rate on the Citigroup Pension Discount Curve that approximated present value of the plan’s payment streams.  Beginning with the year ended December 31, 2011, the Company began to use the Citigroup Above Median AA Pension Discount Curve under the assumption it would more closely replicate the yields of bonds if the Company were to pick individual issuances that matched estimated payment streams of the plans.

The following table shows the components of periodic benefit costs:

Pension Benefits (in thousands)
2012
 
2011
 
2010
Components of net periodic benefit costs
 
 
 
 
 
Service cost
$
2,020

 
$
1,523

 
$
1,668

Interest cost
2,570

 
2,134

 
2,175

Expected return on plan assets
(2,693
)
 
(2,456
)
 
(2,507
)
Amortization of:
 

 
 

 
 

Net transition obligation
—

 
2

 
2

Prior service cost
74

 
69

 
69

Net loss
1,753

 
687

 
602

Net Periodic Pension Benefit Costs
$
3,724

 
$
1,959

 
$
2,009



The following table shows the other changes in plan assets and benefit obligations recognized as a regulatory asset:

Pension Benefits (in thousands)
2012
 
2011
Change in net loss (gain)
$
6,254

 
$
8,550

Change in prior service cost
14

 
—

Amortization of transition obligation
—

 
(2
)
Amortization of prior service cost
(74
)
 
(69
)
Amortization of net loss
(1,753
)
 
(687
)
Total recognized to Regulatory Asset
$
4,441

 
$
7,792



Amounts Recognized as a Regulatory Asset at December 31: (in thousands)
2012
 
2011
Transition obligation
$
—

 
$
—

Prior service cost
249

 
309

Net loss
18,069

 
13,553

Total Recognized as a Regulatory Asset
$
18,318

 
$
13,862



Amounts Recognized in Other Comprehensive Income at December 31: (in thousands)
2012
 
2011
 
2010
Transition obligation
$
—

 
$
—

 
$
—

Prior service cost
—

 
—

 
—

Net loss
538

 
554

 
327

Total Recognized in Other Comprehensive Income
$
538

 
$
554

 
$
327



Estimated Net Periodic Benefit Cost Amortizations for the periods January 1 - December 31,: (in thousands)
2013
Amortization of transition obligation
$
—

Amortization of prior service cost
74

Amortization of net loss
1,964

Total Estimated Net Periodic Benefit Cost Amortizations
$
2,038



Plan Assets
The Company’s pension plan weighted-average asset allocations at December 31, 2012 and 2011 by asset category were as follows:

 
2012
 
2011
Equity
64
%
 
66
%
Fixed Income
36
%
 
34
%
Total
100
%
 
100
%


See Note 6 for discussion on how fair value is determined.  The fair values of the Company’s pension plan assets at December 31, 2012 were as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:

 

 

Money Market Fund
$
483

 
$
—

 
$
—

Mutual Funds:


 


 


Fixed Income Funds (1)
15,769

 
—

 
—

Equity Funds (2)
29,154

 
—

 
—

Total
$
45,406

 
$
—

 
$
—


The fair values of the Company’s pension plan assets at December 31, 2011 were as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:

 

 

Money Market Fund
$
172

 
$
—

 
$
—

Mutual Funds:


 


 


Fixed Income Funds (1)
12,491

 
—

 
—

Equity Funds (2)
24,120

 
—

 
—

Total
$
36,783

 
$
—

 
$
—



(1)
Mutual funds consisting primarily of fixed income securities.
(2)
Mutual funds consisting primarily of equity securities.

The Plan’s expected future benefit payments are:

(in thousands)

2013
$
2,701

2014
2,880

2015
3,383

2016
3,723

2017
3,831

Years 2018 – 2022
25,124



BSWC provides its employees with its employees with a pension plan. For the period of December 10, 2012 through December 31, 2012, BSWC's net periodic benefit credit was $4,000. BSWC's projected benefit obligation at December 31, 2012 was $4,076,000, with plan assets totaling $2,985,000. BSWC utilized a discount rate of 4.25% to determine its benefit obligation at December 31, 2012. It also assumed an 8.5% expected return on plan assets.

POST-RETIREMENT BENEFITS OTHER THAN PENSION (PBOP) – In addition to providing pension benefits, Connecticut Water and Maine Water, provide certain medical, dental and life insurance benefits to retired employees partially funded by a 501(c)(9) Voluntary Employee Beneficiary Association Trust.  Substantially all of their employees may become eligible for these benefits if they retire on or after age 55 with 10 years of service.  The contribution for calendar years 2012 and 2011 was $22,000 and $235,000, respectively.

The Company has amended its PBOP to exclude employees hired after January 1, 2009.  In addition, effective April 1, 2009, the Company will no longer provide prescription drug coverage for its retirees age 65 and over.  Those retirees, who are entitled to Medicare coverage, will continue to receive the current non-prescription medical coverage.

On May 16, 2011, the Company notified participants in the PBOP plan of an amendment that would limit the life-time benefits of participants to $100,000, effective July 1, 2011.  As of the date of the notice, May 16, 2011, the Company and its actuary began to account for the change in life-time benefits.  The change in benefits resulted in a decrease in PBOP expense of approximately $488,000 from May 16 through December 31, 2011.

In January 2012, the Board of Directors of the Company amended its PBOP plan to include former Aqua Maine and current Maine Water employees to participate in a benefit equal to that provided by Aqua Maine.

The Company amortizes actuarial gains and losses over the average remaining service period of active participants, without regard to a specified corridor of a percentage of the greater of the obligation or market-related value of assets.  Connecticut Water has elected to recognize the transition obligation on a delayed basis over a period equal to the plan participants' 21.6 years of average future service.

Another subsidiary company, Barnstable Water, also provides certain health care benefits to eligible retired employees. Barnstable Water employees became eligible for these benefits if they retired on or after age 65 with at least 15 years of service.  Post-65 medical coverage is provided for retired employees up to a maximum coverage of $500 per quarter. Barnstable Water’s PBOP currently is not funded.  Barnstable Water no longer has any employees; therefore, no new participants will be entering Barnstable Water’s PBOP.  The tables below do not include Barnstable Water’s PBOP.  Barnstable Water’s PBOP had a Benefit Obligation of $54,000 and $54,000 at December 31, 2012 and 2011, respectively.  Additionally, this plan did not hold any assets as of December 31, 2012 and 2011.  Barnstable Water’s PBOP’s net periodic benefit costs were less than $1,000 in 2012 and 2011.

The following tables set forth the benefit obligation and fair value of the assets of Connecticut Water and Maine Water’s post-retirement health care benefits at December 31, the latest valuation date:

PBOP Benefits (in thousands)
2012
 
2011
Change in benefit obligation:
 
 
 
Benefit obligation, beginning of year
$
12,842

 
$
13,443

Service cost
548

 
599

Interest cost
538

 
623

Plan participant contributions
93

 
85

Plan amendments
—

 
(2,433
)
Actuarial (gain) loss
(275
)
 
901

Benefits paid
(424
)
 
(376
)
Benefit obligation, end of year
$
13,322

 
$
12,842

Change in plan assets:
 

 
 

Fair value, beginning of year
$
6,465

 
$
6,475

Actual return on plan assets
977

 
46

Employer contributions
22

 
235

Plan participant contributions
93

 
85

Benefits paid
(424
)
 
(376
)
Fair value, end of year
$
7,133

 
$
6,465

Funded Status
$
(6,189
)
 
$
(6,377
)
Amount Recognized in Consolidated Balance Sheets Consisted of:
 

 
 

Non-current asset
$
—

 
$
—

Current liability
—

 
—

Non-current liability
(6,189
)
 
(6,377
)
Net amount recognized
$
(6,189
)
 
$
(6,377
)


Weighted-average assumptions used to determine benefit obligations at December 31:
2012
 
2011
Discount rate
3.80
%
 
4.40
%
 
Weighted-average assumptions used to determine net periodic cost for years ended December 31:
2012
 
2011
 
2010
Discount rate
4.40
%
 
5.35
%
 
5.80
%
Expected long-term return on plan assets
4.50
%
 
4.50
%
 
5.00
%


Prior to the year ended December 31, 2007, the Company used Moody’s AA Corporate Bond Yields when selecting its Discount Rate for each of the PBOP.  Beginning with the year ended December 31, 2007, in an attempt to move away from generic yield curves and indices, the Company used a spot yield curve that attempts to mimic expected benefit payments.  Through December 31, 2010, the Company based its discount rate assumption on a single rate on the Citigroup Pension Discount Curve that approximated present value of the plan’s payment streams.  Beginning with the year ended December 31, 2011, the Company began to use the Citigroup Above Median AA Pension Discount Curve under the assumption it would more closely replicate the yields of bonds if the Company were to pick individual issuances that matched estimated payment streams of the plans.

The following table shows the components of periodic benefit costs:

PBOP Benefits (in thousands)
2012
 
2011
 
2010
Components of net periodic benefit costs
 
 
 
 
 
Service cost
$
548

 
$
599

 
$
567

Interest cost
538

 
623

 
574

Expected return on plan assets
(269
)
 
(267
)
 
(306
)
Other
225

 
225

 
225

Amortization of:
 

 
 

 
 

Prior service cost
(806
)
 
(665
)
 
(406
)
Recognized net loss
615

 
613

 
329

Net Periodic Post Retirement Benefit Costs
$
851

 
$
1,128

 
$
983



The following table shows the other changes in plan assets and benefit obligations recognized as a regulatory asset:

PBOP Benefits (in thousands)
2012
 
2011
Change in net loss (gain)
$
(1,028
)
 
$
1,123

Change in transition credit
(10
)
 
(2,433
)
Amortization of transition obligation
—

 
—

Amortization of prior service credit
806

 
665

Amortization of net loss
(615
)
 
(613
)
Total recognized to Regulatory Asset
$
(847
)
 
$
(1,258
)


Amounts Recognized as a Regulatory Asset at December 31: (in thousands)
2012
 
2011
Transition obligation
$
—

 
$
—

Prior service cost
(2,766
)
 
(3,563
)
Net (gain) loss
4,590

 
6,234

Total Recognized as a Regulatory Asset
$
1,824

 
$
2,671



There were no other changes in plan assets and benefit obligations recognized as a regulatory asset.

Estimated Benefit Cost Amortizations for the periods January 1 - December 31,: (in thousands)
2013
Amortization of transition obligation
$
—

Amortization of prior service cost
(806
)
Amortization of net loss (gain)
394

Total Estimated Net Periodic Benefit Cost Amortizations
$
(412
)


Assumed health care cost trend rates at December 31:
2012
 
2011
 
Medical
 
Dental
 
Medical
 
Dental
Health care cost trend rate assumed for next year (1)
10.0
%
 
10.0
%
 
10.0
%
 
10.0
%
Rate to which the cost trend rate is assumed to decline
5.0
%
 
5.0
%
 
5.0
%
 
5.0
%
Year that the rate reaches the ultimate trend rate
2023

 
2023

 
2022

 
2022



(1) – Zero percent trend rate from 2011 to 2012.

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans.  A one-percentage-point change in assumed health care cost trend rates would have the following effects on Connecticut Water and Maine Water’s plan and would have no impact on the Barnstable Water plan:

(in thousands)
1 Percentage-Point

Increase
 
Decrease
Effect on total of service and interest cost components
$
70

 
$
(66
)
Effect on post-retirement benefit obligation
$
957

 
$
(893
)


Plan Assets
Connecticut Water and Maine Water’s other post-retirement benefit plan weighted-average asset allocations at December 31, 2012 and 2011 by asset category were as follows:

 
2012
 
2011
Equity
65
%
 
63
%
Fixed Income
35
%
 
37
%
Total
100
%
 
100
%


See Note 6 for discussion on how fair value is determined.  The fair value of the Company’s PBOP assets at December 31, 2012 are as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:
 
 
 
 
 
Money Market
$
116

 
$
—

 
$
—

Mutual Funds:
 

 
 

 
 

Fixed Income Funds (1)
2,379

 
—

 
—

Equity Funds (2)
4,638

 
—

 
—

Total
$
7,133

 
$
—

 
$
—


The fair value of the Company’s PBOP assets at December 31, 2011 are as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:
 
 
 
 
 
Money Market
$
160

 
$
—

 
$
—

Mutual Funds:
 

 
 

 
 

Fixed Income Funds (1)
2,234

 
—

 
—

Equity Funds (2)
4,071

 
—

 
—

Total
$
6,465

 
$
—

 
$
—



(1)
Mutual funds consisting primarily of fixed income securities.
(2)
Mutual funds consisting primarily of equity securities.

Cash Flows
The Company contributed $22,000 to its other post-retirement benefit plan in 2012 for plan year 2012.  The Company expects to make a contribution of approximately $850,000 in 2013 for plan year 2013.

Expected future benefit payments are:

(in thousands)
 
2013
$
354

2014
382

2015
414

2016
44

2017
505

Years 2018 – 2022
3,363



SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) – The Company and certain of its subsidiaries provide additional pension benefits to senior management through supplemental executive retirement contracts.  At December 31, 2012 and 2011, the actuarial present values of the projected benefit obligation of these contracts were $5,887,000 and $4,495,000, respectively.  Expense associated with these contracts was approximately $634,000 for 2012, $409,000 for 2011, and $423,000 for 2010 and is reflected in Other Income (Deductions) in the Statements of Income.

Included in Other Property and Investments at December 31, 2012 and 2011 is $3,612,000 and $3,149,000 of investments purchased by the Company to fund these obligations, primarily consisting of life insurance contracts.  The remaining assets are carried at fair value and are considered Level 1 within the fair value hierarchy as outlined under FASB ASC 820 and are included in the table shown in Note 6.

SAVINGS PLAN (401(k)) – The Company and certain of its subsidiaries maintain an employee savings plan which allows participants to contribute from 1% to 50% of pre-tax compensation plus for those aged 50 years and older, catch-up contributions as allowed by law.  Effective January 1, 2009, the Company changed its 401(k) plan to meet the requirements of a special IRS safe harbor.  Under the provisions of this safe harbor plan, the Company will make an automatic contribution of 3% of compensation for all eligible employees, even if employees do not make their own contributions.  For employees hired after January 1, 2009 and ineligible to participate in the Company’s pension plan, the Company will contribute an additional 1.5% of compensation.  Prior to January 1, 2009, the Company matches 50 cents for each dollar contributed by the employee up to 4% of the employee’s compensation.  The savings plan was amended by the Board of Directors in January 2012 to admit eligible Maine Water employees. The Company contribution charged to expense in 2012, 2011, and 2010 was $485,000, $419,000, and $446,000, respectively.

The Plan creates the possibility for an “incentive bonus” contribution to the 401(k) plan tied to the attainment of a specific goal or goals to be identified each year.  If the specific goal or goals are attained by the end of the year, all eligible employees, except officers and certain key employees, may receive up to an additional 1% of their annual base salary as a direct contribution to their 401(k) account. No incentive bonus was awarded in 2012, 2011 or 2010.
Stock Based Compensation Plans
Stock Based Compensation Plans
NOTE 13: STOCK BASED COMPENSATION PLANS

The Company follows FASB ASC 718, “Compensation – Stock Compensation” (“FASB ASC 718”) to account for all share-based payments to employees.

For purposes of calculating the fair value of each stock grant at the date of grant, the Company used the Black Scholes Option Pricing model.  Options begin to become exercisable one year from the date of grant. Vesting periods range from one to five years.  The maximum term ranges from five to ten years.

The Company’s 2004 Performance Stock Program (2004 PSP), approved by shareholders in 2004, authorizes the issuance of up to 700,000 shares of Company Common Stock.  As of December 31, 2012, there were 456,094 shares available for grant.  There are four forms of awards under the 2004 PSP.  Stock options are one form of award.  The Company has not issued any stock options since 2003, and does not anticipate issuing any for the foreseeable future.  The other three forms of award which the Company has continued to issue are:  Restricted Stock, Performance Shares and Cash Units.

Under the original Plan (1994 PSP) there were 700,000 shares authorized and 219,876 shares available for payment of dividend equivalents on shares already awarded under the 1994 PSP as performance shares at December 31, 2012.

Under the 2004 PSP and 1994 PSP (collectively, the PSPs), restricted shares of Common Stock, common stock equivalents or cash units may be awarded annually to officers and key employees.  Based upon the occurrence of certain events, including the achievement of goals established by the Compensation Committee, the restrictions on the stock can be removed.  Amounts charged to expense on account of restricted shares of Common Stock, common stock equivalents or cash units pursuant to the PSPs were $1,544,000, $945,000, and $1,190,000, for 2012, 2011, and 2010, respectively.

STOCK OPTIONS – The Company determined the fair value of each stock grant at the date of grant by using the Black Scholes Option Pricing model.  Options began to become exercisable one year from the date of grant.  Vesting periods ranged from one to five years.  The maximum term ranged from five to ten years.

No stock options were awarded or issued during 2012, 2011, and 2010.

 
2012
 
2011
 
2010
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
Options:
 
 
 
 
 
 
 
 
 
 
 
Outstanding, beginning of year
30,979

 
$
27.63

 
53,674

 
$
27.54

 
77,388

 
$
26.24

Forfeited
—

 
—

 
(17,024
)
 
27.95

 
(9,640
)
 
27.54

Exercised
(23,235
)
 
27.16

 
(5,671
)
 
25.78

 
(14,074
)
 
20.42

Outstanding, end of year
7,744

 
$
29.05

 
30,979

 
$
27.63

 
53,674

 
$
27.54

Exercisable, end of year
7,744

 
$
29.05

 
30,979

 
$
27.63

 
53,674

 
$
27.54



The intrinsic value of options exercised during the year ended December 31, 2012 was $82,000.  The following table summarizes the price ranges of the options outstanding and options exercisable as of December 31, 2012:

 
Options Outstanding and Exercisable
 
Shares
 
Weighted Average Remaining Contractual Life (years)
 
Weighted Average Exercise Price
Range of prices:
 
 
 
 
 
$18.00 - $23.99
—

 
—

 
—

$24.00 - $26.99
—

 
—

 
—

$27.00 - $29.99
7,744

 
0.9

 
29.05

 
7,744

 
0.9

 
$
29.05



The intrinsic value of exercisable options as of December 31, 2012 was approximately $4,000.  The weighted average remaining contractual term of exercisable options as of December 31, 2012 was approximately 0.9 years.

RESTRICTED STOCK AND COMMON STOCK EQUIVALENTS – The Company has granted restricted shares of Common Stock and Performance Shares to key members of management under the 2004 PSP.  These Common Stock share awards provide the grantee with the dividend rights of a shareholder, but not the right to sell or otherwise transfer the shares during the restriction period.  Restricted shares also have the voting rights of a shareholder, while the Performance Shares do not. The value of these restricted shares is based on the market price of the Company’s Common Stock on the date of grant and compensation expense is recorded on a straight-line basis over the awards’ vesting periods.

RESTRICTED STOCK (Non-Performance-Based Awards) – The following tables summarize the non-performance-based restricted stock amounts and activity for the years ended December 31, 2012 and 2011:

 
2012
 
2011
 
Number of Shares
 
Grant Date Weighted Average Fair Value
 
Number of Shares
 
Grant Date Weighted Average Fair Value
Non-vested at beginning of year
900

 
$
19.69

 
4,079

 
$
25.43

Granted
—

 
—

 
—

 
—

Vested
(900
)
 
19.69

 
(3,179
)
 
27.70

Forfeited
—

 
—

 
—

 
—

Non-vested at end of year
—

 
$
—

 
900

 
$
19.69



The restricted stock shares began vesting during 2007.  There were no forfeitures during 2012 or 2011.

Total stock-based compensation recorded in the statement of income related to the non-performance-based restricted stock awards was $0, $78,000, and $109,000 during the years ended December 31, 2012, 2011, and 2010, respectively.  The Compensation Committee of the Board of Directors may approve retirement of key employees that trigger accelerating vesting.

As of December 31, 2011, all costs related to non-performance-based restricted stock had been expensed.

RESTRICTED STOCK AND COMMON STOCK EQUIVALENTS (Performance-Based) – The following tables summarize the performance-based restricted stock amounts and activity for the years ended December 31, 2012 and 2011:

 
2012
 
2011
 
Number of Shares
 
Grant Date Weighted Average Fair Value
 
Number of Shares
 
Grant Date Weighted Average Fair Value
Non-vested at beginning of year
36,105

 
$
25.59

 
48,074

 
$
23.57

Granted
27,703

 
29.22

 
23,391

 
25.65

Vested
(21,274
)
 
24.86

 
(24,323
)
 
22.95

Forfeited
(357
)
 
25.65

 
(11,037
)
 
22.75

Non-vested at end of year
42,177

 
$
28.34

 
36,105

 
$
25.59



Total stock based compensation recorded in the Consolidated Statements of Income related to performance-based restricted stock awards was $1,544,000, $867,000, and $1,080,000 for the year ended December 31, 2012, 2011, and 2010, respectively.

The Company is estimating a forfeiture rate of 30%.  Upon meeting specific performance targets, approximately 12,000 shares, reduced for actual performance targets achieved in 2012, will begin vesting in the first quarter of 2013 and the remaining earned shares will vest over three years.  The cost is being recognized ratably over the vesting period.  The aggregate intrinsic value of performance-based restricted stock as of December 31, 2012 was $798,000.
Segment Reporting
Segment Reporting
NOTE 14: SEGMENT REPORTING

Our Company operates principally in three segments: water activities, real estate transactions, and services and rentals.  The water segment is comprised of our core regulated water activities to supply water to our customers.  Our real estate transactions segment involves selling or donating for income tax benefits our limited excess real estate holdings.  Our services and rentals segment provides services on a contract basis and also leases certain of our properties to third parties.  The accounting policies of each reportable segment are the same as those described in the summary of significant accounting policies.

Financial data for reportable segments is as follows:

(in thousands)
Revenues
 
Depreciation
 
Other Operating Expenses
 
Other Income (Deductions)
 
Interest Expense (net of AFUDC)
 
Income Taxes
 
Net Income (Loss)
For the year ended December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Water Activities
$
85,325

 
$
9,782

 
$
48,153

 
$
(1,760
)
 
$
8,343

 
$
6,022

 
$
11,265

Real Estate Transactions
1,450

 
—

 
119

 
—

 
—

 
380

 
951

Services and Rentals
5,786

 
7

 
3,439

 
—

 
(13
)
 
929

 
1,424

Total
$
92,561

 
$
9,789

 
$
51,711

 
$
(1,760
)
 
$
8,330

 
$
7,331

 
$
13,640

For the year ended December 31, 2011
 

 
 

 
 

 
 

 
 

 
 

 
 

Water Activities
$
70,892

 
$
7,773

 
$
39,211

 
$
(1,148
)
 
$
5,486

 
$
7,151

 
$
10,123

Real Estate Transactions
—

 
—

 
—

 
—

 
—

 
(176
)
 
176

Services and Rentals
4,682

 
7

 
3,014

 
—

 
(41
)
 
701

 
1,001

Total
$
75,574

 
$
7,780

 
$
42,225

 
$
(1,148
)
 
$
5,445

 
$
7,676

 
$
11,300

For the year ended December 31, 2010
 

 
 

 
 

 
 

 
 

 
 

 
 

Water Activities
$
67,753

 
$
7,088

 
$
40,301

 
$
(525
)
 
$
5,682

 
$
5,488

 
$
8,669

Real Estate Transactions
—

 
—

 
—

 
—

 
—

 
(230
)
 
230

Services and Rentals
5,074

 
7

 
3,618

 
—

 
(57
)
 
607

 
899

Total
$
72,827

 
$
7,095

 
$
43,919

 
$
(525
)
 
$
5,625

 
$
5,865

 
$
9,798


The Revenues shown in Water Activities above consist of revenues from water customers of $83,838,000, $69,402,000 and $66,408,000 in the years 2012, 2011, and 2010, respectively.  Additionally, there were revenues associated with utility plant leased to others of $1,487,000, $1,490,000 and $1,345,000 in the years 2012, 2011, and 2010, respectively which are reflected in Other Utility Income, Net of Taxes on the consolidated statements of income.

The table below shows assets by segment:

At December 31 (in thousands):
2012
 
2011
Total Plant and Other Investments:

 

Water
$
453,625

 
$
364,955

Non-Water
680

 
635

Total Plant and Other Investments
454,305

 
365,590

Other Assets:


 


Water
118,020

 
75,096

Non-Water
6,650

 
2,245

Total Other Assets
124,670

 
77,341

Total Assets
$
578,975

 
$
442,931

Commitments and Contingencies
Commitments and Contingencies
NOTE 16:  COMMITMENTS AND CONTINGENCIES

Security – Investment in security-related improvements is a continuing process and management believes that the costs associated with any such improvements will be eligible for recovery in future rate proceedings.

Reverse Privatization – Our Regulated Companies derive their rights and franchises to operate from state laws that are subject to alteration, amendment or repeal, and do not grant permanent exclusive rights to our service areas.  Our franchises are free from burdensome restrictions, are unlimited as to time, and authorize us to sell potable water in all towns we now serve.  There is the possibility that states could revoke our franchises and allow a governmental entity to take over some or all of our systems.  From time to time such legislation is contemplated.

Environmental and Water Quality Regulation – The Company is subject to environmental and water quality regulations.  Costs to comply with environmental and water quality regulations are substantial.  We are presently in compliance with current regulations, but the regulations are subject to change at any time.  The costs to comply with future changes in state or federal regulations, which could require us to modify current filtration facilities and/or construct new ones, or to replace any reduction of the safe yield from any of our current sources of supply, could be substantial.

Legal Proceedings – We are involved in various legal proceedings from time to time. Although the results of legal proceedings cannot be predicted with certainty, there are no pending legal proceedings to which we, or any of our subsidiaries are a party, or to which any of our properties is subject, that presents a reasonable likelihood of a material adverse impact on the Company’s financial condition, results of operations or cash flows.

Rate Relief – Connecticut Water is a regulated public utility, which provides water services to its customers.  The rates that regulated companies charge their water customers are subject to the jurisdiction of the regulatory authority of the PURA.  Connecticut Water’s allowed rate of return on equity and return on rate base are currently 9.75% and 7.32%, respectively. Maine Water’s average allowed return on equity and return on rate base, as of December 31, 2012 were 10.00% and 8.31%, respectively.  BSWC’s allowed return on equity, as of December 31, 2012 was 10.00%.

In 2007, the State of Connecticut adopted legislation which permits regulated water companies to recapture money spent on eligible infrastructure improvements without a full rate case proceeding.  The PURA may authorize regulated water companies to use a rate adjustment mechanism, such as a Water Infrastructure and Conservation Adjustment (WICA), for eligible projects completed and in service for the benefit of the customers.  Regulated water companies may only charge customers such an adjustment to the extent allowed by the PURA based on a water company’s infrastructure assessment report, as approved by the PURA and upon semiannual filings which reflect plant additions consistent with such report. Similarly, the Maine Legislature is currently in the process of formalizing a Temporary Surcharge for Infrastructure Replacement and Repairs, a WICA-like mechanism that will allow for expedited recovery of infrastructure improvements. The Company expects that our Regulated Companies in the State of Maine will be able to take advantage of the surcharge in late 2013 or early 2014.

Land Dispositions – The Company and its subsidiaries own additional parcels of land in Connecticut and Maine, which may be suitable in the future for disposition, either by sale or by donation to municipalities, other local governments or private charitable entities.  These additional parcels would include certain Class I and II parcels previously identified for long term conservation by the Connecticut Department of Energy and Environmental Protection (DEEP), which have restrictions on development and resale based on provisions of the Connecticut General Statutes.

Capital Expenditures – The Company has received approval from its Board of Directors to spend $31.3 million on capital expenditures in 2013, in part due to increased spending primarily for infrastructure improvements.
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)
NOTE 17:  QUARTERLY FINANCIAL DATA (Unaudited)

Selected quarterly financial data for the years ended December 31, 2012 and 2011 appears below (in thousands, except for per share data):


First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter

2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Operating Revenues
$
18,540

 
$
15,989

 
$
21,348

 
$
17,359

 
$
24,461

 
$
20,628

 
$
19,489

 
$
15,426

Total Utility Operating Income
3,727

 
3,538

 
5,199

 
4,580

 
7,961

 
5,054

 
3,534

 
3,235

Net Income
1,910

 
2,268

 
4,163

 
3,470

 
5,974

 
3,734

 
1,593

 
1,828

Basic Earnings per Common Share
0.22

 
0.26

 
0.48

 
0.41

 
0.69

 
0.43

 
0.16

 
0.21

Diluted Earnings per Common Share
0.22

 
0.26

 
0.47

 
0.40

 
0.67

 
0.42

 
0.16

 
0.21

Summary of Significant Accounting Policies (Policies)
New Accounting Pronouncements, Policy [Policy Text Block] 
NEW ACCOUNTING PRONOUNCEMENTS – In February 2013, the FASB issued updated accounting guidance to improve the reporting of reclassifications out of accumulated other comprehensive income (“AOCI”). The update requires an entity to present information about the amounts reclassified from AOCI in their financial statements in either a single note or parenthetically on the face of the financial statements. The updated guidance is effective prospectively for reporting periods beginning after December 15, 2012. The Company will adopt the provisions of the updated guidance for its quarterly reporting period beginning January 1, 2013, and the Company does not expect the adoption of the revised guidance to have an impact on the Company's consolidated results of operations or consolidated financial position.
In May 2011, the FASB issued updated accounting guidance related to fair value measurements and disclosures that result in common fair value measurements and disclosures between U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards. This new guidance amends current fair value measurement and disclosure guidance to increase transparency around valuation inputs and investment categorization. This guidance is effective for interim and annual periods beginning on January 1, 2012 and is required to be applied prospectively. The adoption of this guidance in the first quarter of 2012 did not have a significant impact on the Company's consolidated results of operations or consolidated financial position.
Business Description and Basis of Presentation [Text Block] 
BASIS OF PRESENTATION – The consolidated financial statements include the operations of Connecticut Water Service, Inc. (the “Company”), an investor-owned holding company and its wholly-owned subsidiaries, including:

The Connecticut Water Company (“Connecticut Water”)
The Maine Water Company (“Maine Water”)
The Biddeford & Saco Water Company (“BSWC”)
Chester Realty, Inc. (“Chester Realty”)
New England Water Utility Services, Inc. (“NEWUS”)
Barnstable Holding Company (“Barnstable Holding”)

As of December 31, 2012, Connecticut Water, Maine Water and BSWC were our regulated public water utility companies (collectively the “Regulated Companies”), which served 121,791 customers in 76 towns throughout Connecticut and Maine.

Chester Realty is a real estate company whose net profits from rental of property are included in the Other Income (Deductions), Net of Taxes section of the Consolidated Statements of Income in the Non-Water Sales Earnings category.

NEWUS is engaged in water-related services, including the Linebacker® program, emergency drinking water, pool water and contract operations.  Its earnings are included in the Non-Water Sales Earnings category of the Consolidated Statements of Income.

The Company has evaluated all subsequent events through the date the financial statements were issued.

Intercompany accounts and transactions have been eliminated.

Certain reclassifications have been made to conform previously reported data to the current presentation. In addition to these reclassifications, the prior year financial statements have been revised to adjust the unfunded future income taxes related to plant and pension and other postretirement benefits. The adjustment was recorded to the prior year consolidated balance sheet which resulted in a decrease to the unfunded future income taxes by $21.9 million and a decrease to the associated unrecovered income taxes - regulatory asset by $21.9 million.

Income Tax, Policy [Policy Text Block] 
INCOME TAXES – The Company provides income tax expense for its utility operations in accordance with the regulatory accounting policies of the applicable jurisdictions.  The Company's income tax provision is calculated on a separate return basis. The Connecticut PURA requires the flow-through method of accounting for most state tax temporary differences as well as for certain federal temporary differences. The MPUC requires the flow-through method of accounting for most state temporary differences and normalized accounting for most federal temporary differences.

The Company computed deferred tax liabilities for all temporary book-tax differences using the liability method prescribed in FASB ASC 740 “Income Taxes” (“FASB ASC 740”).  Under the liability method, deferred income taxes are recognized at currently enacted income tax rates to reflect the tax effect of temporary differences between the financial reporting and tax bases of assets and liabilities.  Such temporary differences are the result of provisions in the income tax law that either require or permit certain items to be reported on the income tax return in a different period than they are reported in the financial statements.  Deferred tax liabilities that have not been reflected in tax expense due to regulatory treatment are reflected as Unfunded Future Income Taxes, and are expected to be recoverable in future years’ rates.

The Company believes that deferred income tax assets will be realized in the future.  The majority of unfunded future income taxes relate to deferred state income taxes regarding book to tax depreciation differences.

Deferred Federal Income Taxes consist primarily of amounts that have been provided for accelerated depreciation subsequent to 1981, as required by federal income tax regulations.  Deferred taxes have also been provided for temporary differences in the recognition of certain expenses for tax and financial statement purposes as allowed by PURA ratemaking policies.
Public Utilities, Policy [Policy Text Block] 
PUBLIC UTILITY REGULATION – Connecticut Water is subject to regulation for rates and other matters by the Connecticut Public Utility Regulatory Authority (“PURA”), formerly the Department of Public Utility Control and follows accounting policies prescribed by the PURA.  Maine Water and BSWC are subject to regulation for rates and other matters by the Maine Public Utilities Commission ("MPUC"). The Company prepares its financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”), which includes the provisions of Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 980 “Regulated Operations” (“FASB ASC 980”).  FASB ASC 980 requires cost-based, rate-regulated enterprises, such as Connecticut Water, to reflect the impact of regulatory decisions in their financial statements. The state regulators, through the rate regulation process, can create regulatory assets that result when costs are allowed for ratemaking purposes in a period after the period in which the costs would be charged to expense by an unregulated enterprise.  The balance sheets include regulatory assets and liabilities as appropriate, primarily related to income taxes and post-retirement benefit costs.  In accordance with FASB ASC 980, costs which benefit future periods, such as tank painting, are expensed over the periods they benefit. The Company believes, based on current regulatory circumstances, that the regulatory assets recorded are likely to be recovered and that its use of regulatory accounting is appropriate and in accordance with the provisions of FASB ASC 980.

Regulatory assets and liabilities are comprised of the following:

(in thousands)
December 31,
 
2012
 
2011
Assets:

 

Pension and postretirement benefits
$
21,341

 
$
17,829

Unrecovered income taxes and other
9,871

 
7,355

Deferred revenue (included in deferred charges)
3,644

 
3,883

Other (included in deferred charges)
3,151

 
2,464

Total regulatory assets
$
38,007

 
$
31,531

Liabilities:
 

 
 

Other (included in other current liabilities)
$
499

 
$
—

Unamortized Investment Tax Credits
1,490

 
1,313

Unfunded future income taxes and other
11,215

 
7,355

Total regulatory liabilities
$
13,204

 
$
8,668



Pension and postretirement benefits include costs in excess of amounts funded.  The Company believes these costs will be recoverable in future years, through rates, as funding is required and has recorded regulatory assets for those costs.  The recovery period is dependent on contributions made to the plans and the discount rate used to value the obligations.

Certain items giving rise to deferred state income taxes, as well as a portion of deferred federal income taxes related primarily to differences between book and tax depreciation expense, are recognized for ratemaking purposes on a cash or flow-through basis and will be recovered in rates in future years as they reverse.

Deferred revenue represents a portion of the rate increase granted in Connecticut Water’s 2007 rate decision.  The regulator’s decision required the Company to defer for future collection, beginning in 2008, a portion of the increase.

Regulatory liabilities include deferred investment tax credits.  These liabilities will be given back to customers in rates as tax deductions occur in the future.
Use of Estimates, Policy [Policy Text Block] 
USE OF ESTIMATES – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates.
Utility, Revenue and Expense Recognition, Policy [Policy Text Block] 
REVENUES – The Company’s accounting policies regarding revenue recognition by segment are as follows:

Water Activities – Most of our water customers are billed quarterly, with the exception of larger commercial and industrial customers, as well as public and private fire protection customers who are billed monthly.  Most customers, except fire protection customers, are metered.  Revenues from metered customers are based on their water usage multiplied by approved, regulated rates and are earned when water is delivered.  Public fire protection revenues are based on the length of the water main, and number of hydrants in service and are earned on a monthly basis.  Private fire protection charges are based on the diameter of the connection to the water main.  Our Regulated Companies accrue an estimate for metered customers for the amount of revenues earned relating to water delivered but unbilled at the end of each quarter, which is reflected as Accrued Unbilled Revenues in the accompanying balance sheets.

Real Estate Transactions – Revenues are recorded when a sale or other transaction has been completed and title to the real estate has been transferred. Upon completion of any real estate transaction, the Company no longer has any continuing involvement in the property.

Services and Rentals – Revenues are recorded when the Company has delivered the services called for by contractual obligation.

Property, Plant and Equipment, Policy [Policy Text Block] 
UTILITY PLANT – Utility plant is stated at the original cost of such property when first devoted to public service.  Utility plant accounts are charged with the cost of improvements and replacements of property including an Allowance for Funds Used During Construction.  Retired or disposed of depreciable plant is charged to accumulated provision for depreciation together with any costs applicable to retirement, less any salvage received.  Maintenance of utility plant is charged to expense.  Accounting policies relating to other areas of utility plant are listed below:

Allowance For Funds Used During Construction – Allowance for Funds Used During Construction (AFUDC) is the cost of debt and equity funds used to finance the construction of utility plant. The amount shown on the Consolidated Statements of Income relates to the equity portion.  The debt portion is included as an offset to Other Interest Charges.  Generally, utility plant under construction is not recognized as part of rate base for ratemaking purposes until facilities are placed into service, and accordingly, AFUDC is charged to the construction cost of utility plant.  Capitalized AFUDC, which does not represent current cash income, is recovered through rates over the service lives of the facilities.

Our Regulated Companies’ allowed rate of return on rate base is used to calculate its AFUDC.

Customers’ Advances For Construction, Contributed Plant and Contributions In Aid Of Construction –Under the terms of construction contracts with real estate developers and others, the Regulated Companies periodically receive either advances for the costs of new main installations or title to the main after it is constructed and financed by the developer.  Refunds are made, without interest, as services are connected to the main, over periods not exceeding fifteen years and not in excess of the original advance.  Unrefunded balances, at the end of the contract period, are credited to contributions in aid of construction (CIAC) and are no longer refundable.

Utility Plant is added in two ways.  The majority of the Company’s plant additions occur from direct investment of Company funds that originated through operating activities or financings.  The Company manages the construction of these plant additions.  These plant additions are part of the Company’s depreciable utility plant and are generally part of rate base.  The Company’s rate base is a key component of how its regulated rates are set, and is recovered through the depreciation component of the Company’s rates.  The second way in which plant additions occur are through developer advances and contributions.  Under this scenario either the developer funds the additions through payments to the Company, who in turn manages the construction of the project, or the developer pays for the plant construction directly and contributes the asset to the Company after it is complete.  Plant additions that are financed by a developer, either directly or indirectly, are excluded from the Company’s rate base and not recovered through the rates process, and are also not depreciated.

The components that comprise Net Additions to Utility Plant during the last three years ending December 31 are as follows:

(in thousands)
2012
 
2011
 
2010
Additions to Utility Plant:

 

 

Company Financed
$
24,653

 
$
22,858

 
$
26,240

Allowance for Funds Used During Construction
239

 
188

 
171

Subtotal – Utility Plant Increase to Rate Base
24,892

 
23,046

 
26,411

Advances from Others for Construction
1,041

 
966

 
281

Net Additions to Utility Plant
$
25,933

 
$
24,012

 
$
26,692



Depreciation – Depreciation is computed on a straight-line basis at various rates as approved by the state regulator on a company by company basis.  Depreciation allows the Company to recover the investment in utility plant over its useful life.  The overall consolidated company depreciation rate, based on the average balances of depreciable property, was 2.0%, 1.8%, and 1.7% for 2012, 2011, and 2010, respectively.
Municipal Taxes [Policy Text Block] 
MUNICIPAL TAXES – Municipal taxes are reflected as Taxes Other than Income Taxes and are generally expensed over the twelve-month period beginning on July 1 following the lien date, corresponding with the period in which the municipal services are provided.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] 
STOCK OPTIONS – In the past, the Company issued stock options to certain employees; but has not done so since 2003.  For more information regarding stock based compensation, see Note 13, Stock Based Compensation Plans.
Unamortized Debt Expense [Policy Text Block] 
UNAMORTIZED DEBT ISSUANCE EXPENSE – The issuance costs of long-term debt, including the remaining balance of issuance costs on long-term debt issues that have been refinanced prior to maturity, and related call premiums, are amortized over the respective lives of the outstanding debt, as approved by the PURA and the MPUC.
Goodwill and Intangible Assets, Policy [Policy Text Block] 
GOODWILL – As part of the purchase of regulated water companies, the Company recorded goodwill of $31.7 million representing the amount of the purchase price over net book value of the assets acquired.  The Company accounts for goodwill in accordance with Accounting Standards Codification 350 “Intangibles – Goodwill and Other” (“FASB ASC 350”). For a roll forward of the Company's goodwill balance, see Note 15.

As part of FASB ASC 350, the Company is required to perform an annual goodwill impairment test, which we perform as of December 31 each year. We update the test between the annual testing if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. The analysis of a potential impairment of goodwill requires a two step process. Step one of the test involves comparing the fair value of a reporting unit with its carrying value, including goodwill. If the carrying value of a reporting unit exceeds the reporting unit's fair value, step two must be performed to determine the amount, if any, of goodwill impairment loss. If the carrying value is less than fair value, further testing for goodwill impairment is not performed.

Step two of the goodwill impairment test involves comparing the implied fair value of the reporting unit's goodwill against the carrying value of the goodwill. In step two, determining the implied fair value of goodwill requires the valuation of a reporting unit's identifiable tangible and intangible assets and liabilities as if the reporting unit had been acquired in a business combination on the testing date. The difference between the fair value of the entire reporting unit as determined in step one and the net fair value of all identifiable assets and liabilities represents the implied fair value of the goodwill. The goodwill impairment charge, if any, would be the difference between the carrying amount of goodwill and the implied fair value of goodwill upon the completion of step two.

In performing the annual goodwill impairment test, for purposes of the step one analysis, the Company bases the determination of the fair value of its reporting unit on the income approach, which estimates the fair value based on discounted future cash flows. Based on the completion of step one of the annual impairment analysis, management determined that the fair value of the Water Activities reporting unit was greater than its carrying value.

We may be required to recognize an impairment of goodwill in the future due to market conditions or other factors that are beyond our control and unrelated to our performance. Those market events could include a decline in the forecasted results in our business plan, significant adverse rate case results, changes in capital investment budgets or changes in interest rates that could permanently impair the fair value of a reporting unit. Recognition of impairments of a significant portion of goodwill would negatively impact our reported results of operation and total capitalization, the effects of which could be material and could make it more difficult to maintain our credit ratings, secure financing on favorable terms, maintain compliance with debt covenants and meet expectations of our regulators.
Summary of Significant Accounting Policies (Tables)
Schedule of Regulatory Assets and Liabilities [Text Block] 
Regulatory assets and liabilities are comprised of the following:

(in thousands)
December 31,
 
2012
 
2011
Assets:

 

Pension and postretirement benefits
$
21,341

 
$
17,829

Unrecovered income taxes and other
9,871

 
7,355

Deferred revenue (included in deferred charges)
3,644

 
3,883

Other (included in deferred charges)
3,151

 
2,464

Total regulatory assets
$
38,007

 
$
31,531

Liabilities:
 

 
 

Other (included in other current liabilities)
$
499

 
$
—

Unamortized Investment Tax Credits
1,490

 
1,313

Unfunded future income taxes and other
11,215

 
7,355

Total regulatory liabilities
$
13,204

 
$
8,668

Components of Addition to Net Utility Plant [Table Text Block] 
The components that comprise Net Additions to Utility Plant during the last three years ending December 31 are as follows:

(in thousands)
2012
 
2011
 
2010
Additions to Utility Plant:

 

 

Company Financed
$
24,653

 
$
22,858

 
$
26,240

Allowance for Funds Used During Construction
239

 
188

 
171

Subtotal – Utility Plant Increase to Rate Base
24,892

 
23,046

 
26,411

Advances from Others for Construction
1,041

 
966

 
281

Net Additions to Utility Plant
$
25,933

 
$
24,012

 
$
26,692

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] 
EARNINGS PER SHARE – The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share for the years ended December 31:

Years ended December 31,
2012
 
2011
 
2010
Numerator (in thousands)

 

 

Basic Net Income Applicable to Common Stock
$
13,602

 
$
11,262

 
$
9,760

Diluted Net Income Applicable to Common Stock
$
13,602

 
$
11,262

 
$
9,760

Denominator (in thousands)
 

 
 

 
 

Basic Weighted Average Shares Outstanding
8,763

 
8,610

 
8,532

Dilutive Effect of Stock Awards
137

 
110

 
101

Diluted Weighted Average Shares Outstanding
8,900

 
8,720

 
8,633

Earnings per Share
 

 
 

 
 

Basic Earnings per Share
$
1.55

 
$
1.31

 
$
1.14

Dilutive Effect of Stock Awards
0.02

 
0.02

 
0.01

Diluted Earnings per Share
$
1.53

 
$
1.29

 
$
1.13

Income Tax Expense (Tables)
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] 
Income Tax Expense for the years ended December 31, is comprised of the following:

(in thousands)
 
2012
 
2011
 
2010
Federal Classified as Operating Expense
 
$
6,103

 
$
6,709

 
$
5,513

Federal Classified as Other Utility Income
 
427

 
424

 
368

Federal Classified as Other Income
 
 

 
 

 
 

Land Sales and Donations
 
477

 
(176
)
 
(230
)
Non-Water Sales
 
748

 
558

 
487

Other
 
(900
)
 
(276
)
 
(257
)
Total Federal Income Tax Expense
 
6,855

 
7,239

 
5,881

State Classified as Operating Expense
 
319

 
257

 
(190
)
State Classified as Other Utility Income
 
121

 
112

 
97

State Classified as Other Income
 
 

 
 

 
 

Land Sales and Donations
 
(97
)
 
—

 
—

Non-Water Sales
 
180

 
143

 
120

Other
 
(47
)
 
(75
)
 
(43
)
Total State Income Tax Expense
 
476

 
437

 
(16
)
Total Income Tax Expense
 
$
7,331

 
$
7,676

 
$
5,865

The components of the Federal and State income tax provisions are:

(in thousands)
 
2012
 
2011
 
2010
Current Income Taxes
 
 
 
 
 
 
Federal
 
$
4,747

 
$
5,002

 
$
3,902

State
 
511

 
428

 
338

Total Current
 
5,258

 
5,430

 
4,240

Deferred Income Taxes, Net
 
 

 
 

 
 

Federal
 
 

 
 

 
 

Investment Tax Credit
 
(71
)
 
(63
)
 
(61
)
Deferred Revenue
 
(77
)
 
(75
)
 
(75
)
Land Donations
 
29

 
392

 
201

Depreciation
 
2,411

 
1,990

 
1,909

Other
 
(184
)
 
(7
)
 
5

Total Federal
 
2,108

 
2,237

 
1,979

State
 
 

 
 

 
 

Land Donations
 
(83
)
 
—

 
—

Other
 
48

 
9

 
(354
)
Total State
 
(35
)
 
9

 
(354
)
Total Deferred Income Taxes
 
2,073

 
2,246

 
1,625

Total Income Tax
 
$
7,331

 
$
7,676

 
$
5,865

Deferred Tax (Assets) Liabilities on Consolidated Balance Sheets [Table Text Block] 
Deferred income tax (assets) and liabilities are categorized as follows on the Consolidated Balance Sheets:

(in thousands)
 
2012
 
2011
Unrecovered Income Taxes
 
$
(9,871
)
 
$
(7,355
)
Deferred Federal and State Income Taxes
 
40,869

 
31,075

Unfunded Future Income Taxes
 
8,992

 
7,355

Unamortized Investment Tax Credits
 
1,490

 
1,313

Other
 
(207
)
 
(185
)
Net Deferred Income Tax Liability
 
$
41,273

 
$
32,203

Components of Deferred Tax (Assets) Liabilities [Table Text Block] 
Deferred income tax (assets) and liabilities are comprised of the following:

(in thousands)
 
2012
 
2011
Tax Credit Carryforward (1)
 
$
(2,487
)
 
$
(2,533
)
Prepaid Income Taxes on CIAC
 
(66
)
 
4

Net Operating Loss Carryforwards (2)
 
(385
)
 
—

Other Comprehensive Income
 
(842
)
 
(486
)
Accelerated Depreciation
 
46,379

 
34,548

Unamortized Investment Tax Credits
 
1,490

 
1,313

Other
 
(2,816
)
 
(643
)
Net Deferred Income Tax Liability
 
$
41,273

 
$
32,203

Calculation of Pre-Tax Income [Table Text Block] 
The calculation of Pre-Tax Income is as follows:

(in thousands)
 
2012
 
2011
 
2010
Pre-Tax Income
 
 
 
 
 
 
Net Income
 
$
13,640

 
$
11,300

 
$
9,798

Income Taxes
 
7,331

 
7,676

 
5,865

Total Pre-Tax Income
 
$
20,971

 
$
18,976

 
$
15,663

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] 
The differences between the effective income tax rate recorded by the Company and the statutory federal tax rate are as follows:

 
 
2012
 
2011
 
2010
Federal Statutory Tax Rate
 
35.0
 %
 
34.0
 %
 
34.0
 %
Tax Effect Differences:
 
 

 
 

 
 

State Income Taxes Net of Federal Benefit
 
1.3
 %
 
1.5
 %
 
—
 %
Property Related Items
 
(0.1
)%
 
1.0
 %
 
—
 %
Charitable Contributions – Land Donation (Net of Valuation Allowance)
 
(0.3
)%
 
(0.9
)%
 
(1.5
)%
Pension Costs
 
1.6
 %
 
3.5
 %
 
1.8
 %
Unamortized Debt Expense
 
(2.6
)%
 
0.4
 %
 
0.5
 %
Other
 
0.1
 %
 
1.0
 %
 
2.6
 %
Effective Income Tax Rate
 
35.0
 %
 
40.5
 %
 
37.4
 %
Common Stock (Tables)
Schedule of Stockholders Equity [Table Text Block]
A summary of the changes in the common stock accounts for the period January 1, 2010 through December 31, 2012, appears below:

(in thousands, except share data)
Shares
 
Issuance Amount
 
Expense
 
Total
Balance, January 1, 2010
8,573,744

 
$
68,896

 
$
(1,610
)
 
$
67,286

Stock and equivalents issued through Performance Stock Program, Net of Forfeitures
31,282

 
1,077

 
—

 
1,077

Dividend Reinvestment Plan
57,749

 
1,358

 
—

 
1,358

Stock Options Exercised and Expensed
14,074

 
305

 
(2
)
 
303

Balance, December 31, 2010
8,676,849

 
$
71,636

 
$
(1,612
)
 
$
70,024

Stock and equivalents issued through Performance Stock Program, Net of Forfeitures
20,210

 
824

 
—

 
824

Dividend Reinvestment Plan
52,668

 
1,346

 
—

 
1,346

Stock Options Exercised and Expensed
5,671

 
152

 
(1
)
 
151

Balance, December 31, 2011
8,755,398

 
$
73,958

 
$
(1,613
)
 
$
72,345

Stock and equivalents issued through Performance Stock Program, Net of Forfeitures
34,301

 
1,213

 
—

 
1,213

Dividend Reinvestment Plan
50,048

 
1,486

 
—

 
1,486

Stock Options Exercised and Expensed
23,235

 
665

 
(3
)
 
662

Shares issued to acquire BSWC
380,254

 
12,012

 
(154
)
 
11,858

Shares issued in stock offering
1,696,250

 
49,615

 
(2,306
)
 
47,309

Balance, December 31, 2012 (1)
10,939,486

 
$
138,949

 
$
(4,076
)
 
$
134,873

Retained Earnings (Tables)
Retained Earnings [Table Text Block]
The summary of the changes in Retained Earnings for the period January 1, 2010 through December 31, 2012, appears below:

(in thousands, except per share data)
 
2012
 
2011
 
2010
Balance, beginning of year
 
$
46,669

 
$
43,603

 
$
41,785

Net Income
 
13,640

 
11,300

 
9,798

Sub-total
 
60,309

 
54,903

 
51,583

Dividends declared:
 
 
 
 
 
 
Cumulative Preferred Stock, Series A, $0.80 per share
 
12

 
12

 
12

Cumulative Preferred Stock, Series $0.90, $0.90 per share
 
26

 
26

 
26

Common Stock:
 
 
 
 
 
 
$0.96, $0.94 and $0.92 per Common Share in 2012, 2011 and 2010, respectively
 
8,467

 
8,196

 
7,942

Total Dividends Declared
 
8,505

 
8,234

 
7,980

Balance, end of year
 
$
51,804

 
$
46,669

 
$
43,603

Long-Term Debt Long-Term Debt (Tables)
Schedule of Maturities of Long-term Debt [Table Text Block]
The Company's required principal payments for the years 2013 through 2017 are as follows:

2013
 
$
1,304

2014
 
$
4,103

2015
 
$
2,442

2016
 
$
2,486

2017
 
$
4,501

Utility Plant Components of Utitlity Plant (Tables)
Utility Plant
The components of utility plant and equipment at December 31, were as follows:

(in thousands)
2012
 
2011
Land
$
12,512

 
$
10,623

Source of supply
33,627

 
29,687

Pumping
35,337

 
30,653

Water treatment
75,684

 
56,799

Transmission and distribution
411,923

 
325,174

General
47,444

 
39,619

Held for future use
437

 
472

Acquisition Adjustment
(5,177
)
 
(5,487
)
Total
$
611,787

 
$
487,540

NOTE 10:  UTILITY PLANT

The components of utility plant and equipment at December 31, were as follows:

(in thousands)
2012
 
2011
Land
$
12,512

 
$
10,623

Source of supply
33,627

 
29,687

Pumping
35,337

 
30,653

Water treatment
75,684

 
56,799

Transmission and distribution
411,923

 
325,174

General
47,444

 
39,619

Held for future use
437

 
472

Acquisition Adjustment
(5,177
)
 
(5,487
)
Total
$
611,787

 
$
487,540



The amounts of depreciable utility plant at December 31, 2012 and 2011 included in total utility plant were $559,109,000 and $437,241,000, respectively.  Non-depreciable plant is primarily funded through CIAC.
Taxes Other than Income Taxes Taxes Other Than Income Taxes (Tables)
Taxes Other Than Income Taxes [Table Text Block]
Taxes Other than Income Taxes consist of the following:

(in thousands)
 
2012
 
2011
 
2010
Municipal Property Taxes
 
$
6,567

 
$
5,529

 
$
5,293

Payroll Taxes
 
1,132

 
912

 
978

Total Taxes Other than Income Taxes
 
$
7,699

 
$
6,441

 
$
6,271

Pension and Other Post-Retirement Benefits Pension and Post-Retirement Benefits (Tables)
3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2012
Pension and Other Post-Retirement Benefits [Abstract]
 
 
Schedule of Net Benefit Costs [Table Text Block]
 
Text Block 
Components of Long-Term Compensation Arrangements [Table Text Block]
 
Text Block 
Target Asset Allocation [Table Text Block]
 
Text Block 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
 
Text Block 
Schedule of Assumptions Used [Table Text Block]
 
Text Block 
Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Liability [Table Text Block]
 
Text Block 
Amounts Recognized as Regulatory Asset [Table Text Block]
 
Text Block 
Amounts Recognized in Other Comprehensive Income [Table Text Block]
 
Text Block 
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block]
 
Text Block 
Acutal Asset Allocation [Table Text Block]
Text Block 
Text Block 
Fair Value of Benefit Plan Assets [Table Text Block]
 
Text Block 
Schedule of Expected Benefit Payments [Table Text Block]
 
Text Block 
Schedule of Health Care Cost Trend Rates [Table Text Block]
 
Text Block 
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
 
Text Block 
Schedule of Net Benefit Costs [Table Text Block] 
The following table shows the components of periodic benefit costs:

PBOP Benefits (in thousands)
2012
 
2011
 
2010
Components of net periodic benefit costs
 
 
 
 
 
Service cost
$
548

 
$
599

 
$
567

Interest cost
538

 
623

 
574

Expected return on plan assets
(269
)
 
(267
)
 
(306
)
Other
225

 
225

 
225

Amortization of:
 

 
 

 
 

Prior service cost
(806
)
 
(665
)
 
(406
)
Recognized net loss
615

 
613

 
329

Net Periodic Post Retirement Benefit Costs
$
851

 
$
1,128

 
$
983

The following table shows the components of periodic benefit costs:

Pension Benefits (in thousands)
2012
 
2011
 
2010
Components of net periodic benefit costs
 
 
 
 
 
Service cost
$
2,020

 
$
1,523

 
$
1,668

Interest cost
2,570

 
2,134

 
2,175

Expected return on plan assets
(2,693
)
 
(2,456
)
 
(2,507
)
Amortization of:
 

 
 

 
 

Net transition obligation
—

 
2

 
2

Prior service cost
74

 
69

 
69

Net loss
1,753

 
687

 
602

Net Periodic Pension Benefit Costs
$
3,724

 
$
1,959

 
$
2,009

Components of Long-Term Compensation Arrangements [Table Text Block] 
The Company has accrued for the following long-term compensation arrangements as of December 31, 2012 and 2011:

(in thousands)
2012
 
2011
Defined Benefit Pension Plan
$
22,139

 
$
12,319

Post Retirement Benefit Other than Pension
6,243

 
6,431

Supplemental Executive Retirement Plan
6,224

 
4,843

Deferred Compensation
1,639

 
1,411

Other Long-Term Compensation
185

 
228

Total Long-Term Compensation Arrangements
$
36,430

 
$
25,232

Target Asset Allocation [Table Text Block] 
The targeted asset allocation ratios for those plans as set by the Committee at December 31, 2012 and 2011:


2012
 
2011
Equity
65
%
 
65
%
Fixed Income
35
%
 
35
%
Total
100
%
 
100
%
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] 
The following tables set forth the benefit obligation and fair value of the assets of the Company’s retirement plans at December 31, the latest valuation date:

Pension Benefits (in thousands)
2012
 
2011
Change in benefit obligation:
 
 
 
Benefit obligation, beginning of year
$
49,102

 
$
40,758

Service cost
2,020

 
1,523

Interest cost
2,570

 
2,134

Actuarial loss (gain)
14,494

 
5,878

Benefits paid
(1,685
)
 
(1,191
)
Benefit obligation, end of year
$
66,501

 
$
49,102

Change in plan assets:
 

 
 

Fair value, beginning of year
$
36,783

 
$
36,990

Actual return on plan assets
9,723

 
(216
)
Employer contributions
585

 
1,200

Benefits paid
(1,685
)
 
(1,191
)
Fair value, end of year
$
45,406

 
$
36,783

Funded Status
$
(21,095
)
 
$
(12,319
)
Amount Recognized in Consolidated Balance Sheets Consisted of:
 

 
 

Non-current asset
$
—

 
$
—

Current liability
—

 
—

Non-current liability
(21,095
)
 
(12,319
)
Net amount recognized
$
(21,095
)
 
$
(12,319
)
The following tables set forth the benefit obligation and fair value of the assets of Connecticut Water and Maine Water’s post-retirement health care benefits at December 31, the latest valuation date:

PBOP Benefits (in thousands)
2012
 
2011
Change in benefit obligation:
 
 
 
Benefit obligation, beginning of year
$
12,842

 
$
13,443

Service cost
548

 
599

Interest cost
538

 
623

Plan participant contributions
93

 
85

Plan amendments
—

 
(2,433
)
Actuarial (gain) loss
(275
)
 
901

Benefits paid
(424
)
 
(376
)
Benefit obligation, end of year
$
13,322

 
$
12,842

Change in plan assets:
 

 
 

Fair value, beginning of year
$
6,465

 
$
6,475

Actual return on plan assets
977

 
46

Employer contributions
22

 
235

Plan participant contributions
93

 
85

Benefits paid
(424
)
 
(376
)
Fair value, end of year
$
7,133

 
$
6,465

Funded Status
$
(6,189
)
 
$
(6,377
)
Amount Recognized in Consolidated Balance Sheets Consisted of:
 

 
 

Non-current asset
$
—

 
$
—

Current liability
—

 
—

Non-current liability
(6,189
)
 
(6,377
)
Net amount recognized
$
(6,189
)
 
$
(6,377
)
Schedule of Assumptions Used [Table Text Block] 
Weighted-average assumptions used to determine benefit obligations at December 31:
2012
 
2011
Discount rate
4.05
%
 
4.60
%
Rate of compensation increase
3.50
%
 
3.50
%

Weighted-average assumptions used to determine net periodic cost for years ended December 31:
2012
 
2011
 
2010
Discount rate
4.60
%
 
5.50
%
 
5.95
%
Expected long-term return on plan assets
7.25
%
 
7.25
%
 
8.00
%
Rate of compensation increase
3.50
%
 
3.50
%
 
4.50
%
Weighted-average assumptions used to determine benefit obligations at December 31:
2012
 
2011
Discount rate
3.80
%
 
4.40
%
 
Weighted-average assumptions used to determine net periodic cost for years ended December 31:
2012
 
2011
 
2010
Discount rate
4.40
%
 
5.35
%
 
5.80
%
Expected long-term return on plan assets
4.50
%
 
4.50
%
 
5.00
%
Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Liability [Table Text Block] 
The following table shows the other changes in plan assets and benefit obligations recognized as a regulatory asset:

Pension Benefits (in thousands)
2012
 
2011
Change in net loss (gain)
$
6,254

 
$
8,550

Change in prior service cost
14

 
—

Amortization of transition obligation
—

 
(2
)
Amortization of prior service cost
(74
)
 
(69
)
Amortization of net loss
(1,753
)
 
(687
)
Total recognized to Regulatory Asset
$
4,441

 
$
7,792

The following table shows the other changes in plan assets and benefit obligations recognized as a regulatory asset:

PBOP Benefits (in thousands)
2012
 
2011
Change in net loss (gain)
$
(1,028
)
 
$
1,123

Change in transition credit
(10
)
 
(2,433
)
Amortization of transition obligation
—

 
—

Amortization of prior service credit
806

 
665

Amortization of net loss
(615
)
 
(613
)
Total recognized to Regulatory Asset
$
(847
)
 
$
(1,258
)
Amounts Recognized as Regulatory Asset [Table Text Block] 
Amounts Recognized as a Regulatory Asset at December 31: (in thousands)
2012
 
2011
Transition obligation
$
—

 
$
—

Prior service cost
249

 
309

Net loss
18,069

 
13,553

Total Recognized as a Regulatory Asset
$
18,318

 
$
13,862

Amounts Recognized as a Regulatory Asset at December 31: (in thousands)
2012
 
2011
Transition obligation
$
—

 
$
—

Prior service cost
(2,766
)
 
(3,563
)
Net (gain) loss
4,590

 
6,234

Total Recognized as a Regulatory Asset
$
1,824

 
$
2,671

Amounts Recognized in Other Comprehensive Income [Table Text Block] 
Amounts Recognized in Other Comprehensive Income at December 31: (in thousands)
2012
 
2011
 
2010
Transition obligation
$
—

 
$
—

 
$
—

Prior service cost
—

 
—

 
—

Net loss
538

 
554

 
327

Total Recognized in Other Comprehensive Income
$
538

 
$
554

 
$
327

Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] 
Estimated Net Periodic Benefit Cost Amortizations for the periods January 1 - December 31,: (in thousands)
2013
Amortization of transition obligation
$
—

Amortization of prior service cost
74

Amortization of net loss
1,964

Total Estimated Net Periodic Benefit Cost Amortizations
$
2,038

Estimated Benefit Cost Amortizations for the periods January 1 - December 31,: (in thousands)
2013
Amortization of transition obligation
$
—

Amortization of prior service cost
(806
)
Amortization of net loss (gain)
394

Total Estimated Net Periodic Benefit Cost Amortizations
$
(412
)
Acutal Asset Allocation [Table Text Block] 
Plan Assets
The Company’s pension plan weighted-average asset allocations at December 31, 2012 and 2011 by asset category were as follows:

 
2012
 
2011
Equity
64
%
 
66
%
Fixed Income
36
%
 
34
%
Total
100
%
 
100
%
Acutal Asset Allocation [Table Text Block] 
Connecticut Water and Maine Water’s other post-retirement benefit plan weighted-average asset allocations at December 31, 2012 and 2011 by asset category were as follows:

 
2012
 
2011
Equity
65
%
 
63
%
Fixed Income
35
%
 
37
%
Total
100
%
 
100
%
Fair Value of Benefit Plan Assets [Table Text Block] 
See Note 6 for discussion on how fair value is determined.  The fair values of the Company’s pension plan assets at December 31, 2012 were as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:

 

 

Money Market Fund
$
483

 
$
—

 
$
—

Mutual Funds:


 


 


Fixed Income Funds (1)
15,769

 
—

 
—

Equity Funds (2)
29,154

 
—

 
—

Total
$
45,406

 
$
—

 
$
—


The fair values of the Company’s pension plan assets at December 31, 2011 were as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:

 

 

Money Market Fund
$
172

 
$
—

 
$
—

Mutual Funds:


 


 


Fixed Income Funds (1)
12,491

 
—

 
—

Equity Funds (2)
24,120

 
—

 
—

Total
$
36,783

 
$
—

 
$
—

See Note 6 for discussion on how fair value is determined.  The fair value of the Company’s PBOP assets at December 31, 2012 are as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:
 
 
 
 
 
Money Market
$
116

 
$
—

 
$
—

Mutual Funds:
 

 
 

 
 

Fixed Income Funds (1)
2,379

 
—

 
—

Equity Funds (2)
4,638

 
—

 
—

Total
$
7,133

 
$
—

 
$
—


The fair value of the Company’s PBOP assets at December 31, 2011 are as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:
 
 
 
 
 
Money Market
$
160

 
$
—

 
$
—

Mutual Funds:
 

 
 

 
 

Fixed Income Funds (1)
2,234

 
—

 
—

Equity Funds (2)
4,071

 
—

 
—

Total
$
6,465

 
$
—

 
$
—

Schedule of Expected Benefit Payments [Table Text Block] 
The Plan’s expected future benefit payments are:

(in thousands)

2013
$
2,701

2014
2,880

2015
3,383

2016
3,723

2017
3,831

Years 2018 – 2022
25,124

Expected future benefit payments are:

(in thousands)
 
2013
$
354

2014
382

2015
414

2016
44

2017
505

Years 2018 – 2022
3,363

Schedule of Health Care Cost Trend Rates [Table Text Block] 
Assumed health care cost trend rates at December 31:
2012
 
2011
 
Medical
 
Dental
 
Medical
 
Dental
Health care cost trend rate assumed for next year (1)
10.0
%
 
10.0
%
 
10.0
%
 
10.0
%
Rate to which the cost trend rate is assumed to decline
5.0
%
 
5.0
%
 
5.0
%
 
5.0
%
Year that the rate reaches the ultimate trend rate
2023

 
2023

 
2022

 
2022

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] 
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans.  A one-percentage-point change in assumed health care cost trend rates would have the following effects on Connecticut Water and Maine Water’s plan and would have no impact on the Barnstable Water plan:

(in thousands)
1 Percentage-Point

Increase
 
Decrease
Effect on total of service and interest cost components
$
70

 
$
(66
)
Effect on post-retirement benefit obligation
$
957

 
$
(893
)
Stock Based Compensation Plans (Tables)
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] 
 
2012
 
2011
 
2010
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
Options:
 
 
 
 
 
 
 
 
 
 
 
Outstanding, beginning of year
30,979

 
$
27.63

 
53,674

 
$
27.54

 
77,388

 
$
26.24

Forfeited
—

 
—

 
(17,024
)
 
27.95

 
(9,640
)
 
27.54

Exercised
(23,235
)
 
27.16

 
(5,671
)
 
25.78

 
(14,074
)
 
20.42

Outstanding, end of year
7,744

 
$
29.05

 
30,979

 
$
27.63

 
53,674

 
$
27.54

Exercisable, end of year
7,744

 
$
29.05

 
30,979

 
$
27.63

 
53,674

 
$
27.54

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] 
The following table summarizes the price ranges of the options outstanding and options exercisable as of December 31, 2012:

 
Options Outstanding and Exercisable
 
Shares
 
Weighted Average Remaining Contractual Life (years)
 
Weighted Average Exercise Price
Range of prices:
 
 
 
 
 
$18.00 - $23.99
—

 
—

 
—

$24.00 - $26.99
—

 
—

 
—

$27.00 - $29.99
7,744

 
0.9

 
29.05

 
7,744

 
0.9

 
$
29.05

Non-Performance Based Share Awards [Table Text Block] 
RESTRICTED STOCK (Non-Performance-Based Awards) – The following tables summarize the non-performance-based restricted stock amounts and activity for the years ended December 31, 2012 and 2011:

 
2012
 
2011
 
Number of Shares
 
Grant Date Weighted Average Fair Value
 
Number of Shares
 
Grant Date Weighted Average Fair Value
Non-vested at beginning of year
900

 
$
19.69

 
4,079

 
$
25.43

Granted
—

 
—

 
—

 
—

Vested
(900
)
 
19.69

 
(3,179
)
 
27.70

Forfeited
—

 
—

 
—

 
—

Non-vested at end of year
—

 
$
—

 
900

 
$
19.69

Performance Based Share Awards [Table Text Block] 
RESTRICTED STOCK AND COMMON STOCK EQUIVALENTS (Performance-Based) – The following tables summarize the performance-based restricted stock amounts and activity for the years ended December 31, 2012 and 2011:

 
2012
 
2011
 
Number of Shares
 
Grant Date Weighted Average Fair Value
 
Number of Shares
 
Grant Date Weighted Average Fair Value
Non-vested at beginning of year
36,105

 
$
25.59

 
48,074

 
$
23.57

Granted
27,703

 
29.22

 
23,391

 
25.65

Vested
(21,274
)
 
24.86

 
(24,323
)
 
22.95

Forfeited
(357
)
 
25.65

 
(11,037
)
 
22.75

Non-vested at end of year
42,177

 
$
28.34

 
36,105

 
$
25.59

Segment Reporting (Tables)
Schedule of Segment Reporting Information, by Segment [Table Text Block] 
Financial data for reportable segments is as follows:

(in thousands)
Revenues
 
Depreciation
 
Other Operating Expenses
 
Other Income (Deductions)
 
Interest Expense (net of AFUDC)
 
Income Taxes
 
Net Income (Loss)
For the year ended December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Water Activities
$
85,325

 
$
9,782

 
$
48,153

 
$
(1,760
)
 
$
8,343

 
$
6,022

 
$
11,265

Real Estate Transactions
1,450

 
—

 
119

 
—

 
—

 
380

 
951

Services and Rentals
5,786

 
7

 
3,439

 
—

 
(13
)
 
929

 
1,424

Total
$
92,561

 
$
9,789

 
$
51,711

 
$
(1,760
)
 
$
8,330

 
$
7,331

 
$
13,640

For the year ended December 31, 2011
 

 
 

 
 

 
 

 
 

 
 

 
 

Water Activities
$
70,892

 
$
7,773

 
$
39,211

 
$
(1,148
)
 
$
5,486

 
$
7,151

 
$
10,123

Real Estate Transactions
—

 
—

 
—

 
—

 
—

 
(176
)
 
176

Services and Rentals
4,682

 
7

 
3,014

 
—

 
(41
)
 
701

 
1,001

Total
$
75,574

 
$
7,780

 
$
42,225

 
$
(1,148
)
 
$
5,445

 
$
7,676

 
$
11,300

For the year ended December 31, 2010
 

 
 

 
 

 
 

 
 

 
 

 
 

Water Activities
$
67,753

 
$
7,088

 
$
40,301

 
$
(525
)
 
$
5,682

 
$
5,488

 
$
8,669

Real Estate Transactions
—

 
—

 
—

 
—

 
—

 
(230
)
 
230

Services and Rentals
5,074

 
7

 
3,618

 
—

 
(57
)
 
607

 
899

Total
$
72,827

 
$
7,095

 
$
43,919

 
$
(525
)
 
$
5,625

 
$
5,865

 
$
9,798


Reconciliation of Assets from Segment to Consolidated [Table Text Block] 
The table below shows assets by segment:

At December 31 (in thousands):
2012
 
2011
Total Plant and Other Investments:

 

Water
$
453,625

 
$
364,955

Non-Water
680

 
635

Total Plant and Other Investments
454,305

 
365,590

Other Assets:


 


Water
118,020

 
75,096

Non-Water
6,650

 
2,245

Total Other Assets
124,670

 
77,341

Total Assets
$
578,975

 
$
442,931

Quarterly Financial Data Quarterly Financial Data (Tables)
Schedule of Quarterly Financial Information [Table Text Block]
Selected quarterly financial data for the years ended December 31, 2012 and 2011 appears below (in thousands, except for per share data):


First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter

2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Operating Revenues
$
18,540

 
$
15,989

 
$
21,348

 
$
17,359

 
$
24,461

 
$
20,628

 
$
19,489

 
$
15,426

Total Utility Operating Income
3,727

 
3,538

 
5,199

 
4,580

 
7,961

 
5,054

 
3,534

 
3,235

Net Income
1,910

 
2,268

 
4,163

 
3,470

 
5,974

 
3,734

 
1,593

 
1,828

Basic Earnings per Common Share
0.22

 
0.26

 
0.48

 
0.41

 
0.69

 
0.43

 
0.16

 
0.21

Diluted Earnings per Common Share
0.22

 
0.26

 
0.47

 
0.40

 
0.67

 
0.42

 
0.16

 
0.21

Earnings per Share Earnings per Share (Tables)
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
EARNINGS PER SHARE – The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share for the years ended December 31:

Years ended December 31,
2012
 
2011
 
2010
Numerator (in thousands)

 

 

Basic Net Income Applicable to Common Stock
$
13,602

 
$
11,262

 
$
9,760

Diluted Net Income Applicable to Common Stock
$
13,602

 
$
11,262

 
$
9,760

Denominator (in thousands)
 

 
 

 
 

Basic Weighted Average Shares Outstanding
8,763

 
8,610

 
8,532

Dilutive Effect of Stock Awards
137

 
110

 
101

Diluted Weighted Average Shares Outstanding
8,900

 
8,720

 
8,633

Earnings per Share
 

 
 

 
 

Basic Earnings per Share
$
1.55

 
$
1.31

 
$
1.14

Dilutive Effect of Stock Awards
0.02

 
0.02

 
0.01

Diluted Earnings per Share
$
1.53

 
$
1.29

 
$
1.13

Schedule II - Valuation and Qualifying Accounts Schedule II - Valuation and Qualifying Accounts (Tables)
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] 
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

(in thousands)
Description
Balance Beginning of Year
 
Beginning Balance Adjustments (1)
 
Additions Charged to Income
 
Deductions From Reserves(2)
 
Balance End of Year
Allowance for Uncollectible Accounts
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2012
$
1,088

 
$
187

 
$
315

 
$
532

 
$
1,058

Year Ended December 31, 2011
$
1,061

 
$
—

 
$
660

 
$
633

 
$
1,088

Year Ended December 31, 2010
$
472

 
$
—

 
$
648

 
$
59

 
$
1,061


(1) Includes beginning balances of Maine Water Company and BSWC of $32 and $155, respectively.
(2) Amounts charged off as uncollectible after deducting recoveries.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] 
SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

(in thousands)
Description
Balance Beginning of Year
 
Beginning Balance Adjustments (1)
 
Additions Charged to Income
 
Deductions From Reserves(2)
 
Balance End of Year
Allowance for Uncollectible Accounts
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2012
$
1,088

 
$
187

 
$
315

 
$
532

 
$
1,058

Year Ended December 31, 2011
$
1,061

 
$
—

 
$
660

 
$
633

 
$
1,088

Year Ended December 31, 2010
$
472

 
$
—

 
$
648

 
$
59

 
$
1,061


(1) Includes beginning balances of Maine Water Company and BSWC of $32 and $155, respectively.
(2) Amounts charged off as uncollectible after deducting recoveries.
Summary of Significant Accounting Policies (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Summary of Significant Accounting Policies [Abstract]
 
 
Pension and post-retirement benefits
$ 21,341 
$ 17,829 
Unrecovered Income Taxes - Regulatory Asset
9,871 
7,355 
Deferred Revenue
3,644 
3,883 
Other Regulatory Assets
3,151 
2,464 
Regulatory Assets
38,007 
31,531 
Other Regulated Liabilities, Current
499 
0 
Unamortized Investment Tax Credits
1,490 
1,313 
Deferred Future Income Taxes and Other
11,215 
7,355 
Regulatory Liabilities
$ 13,204 
$ 8,668 
Summary of Significant Accounting Policies Components of Addition to Net Utility Plant (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Summary of Significant Accounting Policies [Abstract]
 
 
 
Company Financed Additions to Utility Plant
$ 24,653 
$ 22,858 
$ 26,240 
Increase (Decrease) in Allowance for Equity Funds Used During Construction
239 
188 
171 
Subtotal - Utility Plant Increase to Rate Base
24,892 
23,046 
26,411 
Advances from Others for Construction
1,041 
966 
281 
Property, Plant and Equipment, Additions
$ 25,933 
$ 24,012 
$ 26,692 
Summary of Significant Accounting Policies Earnings Per Share Calculation (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Summary of Significant Accounting Policies [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss) Available to Common Stockholders, Basic
 
 
 
 
 
 
 
 
$ 13,602 
$ 11,262 
$ 9,760 
Net Income (Loss) Available to Common Stockholders, Diluted
 
 
 
 
 
 
 
 
$ 13,602 
$ 11,262 
$ 9,760 
Weighted Average Number of Shares Outstanding, Basic
 
 
 
 
 
 
 
 
8,763,000 
8,610,000 
8,532,000 
Weighted Average Number Diluted Shares Outstanding Adjustment
 
 
 
 
 
 
 
 
137,000 
110,000 
101,000 
Diluted (in shares)
 
 
 
 
 
 
 
 
8,900,000 
8,720,000 
8,633,000 
Basic (in dollars per share)
$ 0.16 
$ 0.69 
$ 0.48 
$ 0.22 
$ 0.21 
$ 0.43 
$ 0.41 
$ 0.26 
$ 1.55 
$ 1.31 
$ 1.14 
Incremental Common Shares Attributal To Share Based Payements Arrangements
 
 
 
 
 
 
 
 
$ 0.02 
$ 0.02 
$ 0.01 
Diluted (in dollars per share)
$ 0.16 
$ 0.67 
$ 0.47 
$ 0.22 
$ 210.00 
$ 0.42 
$ 0.40 
$ 0.26 
$ 1.53 
$ 1.29 
$ 1.13 
Summary of Significant Accounting Policies In Text Linking (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Dec. 31, 2010
Rate
Summary of Significant Accounting Policies [Abstract]
 
 
 
Public Utilities, Property, Plant and Equipment, Disclosure of Composite Depreciation Rate for Plants in Service
0.00% 
0.00% 
0.00% 
Total Number of Customers Served
121,791 
 
 
Total Towns Served
76 
 
 
Adjustment Recorded to the Prior Year Unfunded Future Income Taxes
 
$ 22,000,000 
 
Adjustment to the Prior Year Unrecovered Income Taxes - Regulatory Asset
 
22,000,000 
 
Goodwill
$ 31,685,000 
$ 3,608,000 
 
Income Tax Expense (Details)
12 Months Ended
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Dec. 31, 2010
Rate
Income Taxes [Abstract]
 
 
 
Effective Income Tax Rate, Continuing Operations
40.00% 
40.00% 
40.00% 
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate
40.00% 
30.00% 
30.00% 
Income Tax Expense Components of Income Tax Expense (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Income Tax Expense [Abstract]
 
 
 
Federal Classified as Operating Expense
$ 6,103 
$ 6,709 
$ 5,513 
Federal Classified as Other Utility Income
427 
424 
368 
Federal Classified as Other Income - Land Sales and Donations
477 
(176)
(230)
Federal Classified as Other Income - Non-Water Sales
748 
558 
487 
Federal Classified as Other Income - Other
(900)
(276)
(257)
Total Federal Income Tax Expense
6,855 
7,239 
5,881 
State Classified as Operating Expense
319 
257 
(190)
Statet Classified as Other Utility Income
121 
112 
97 
State Classified as Other - Land Sales and Donations
(97)
0 
0 
State Classified as Other - Non-Water Sales
180 
143 
120 
State Classified as Other - Other
(47)
(75)
(43)
Total State Income Tax Expense
476 
437 
(16)
Total Income Tax Expense
$ 7,331 
$ 7,676 
$ 5,865 
Income Tax Expense Components of Federal and State Income Tax Provision (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Income Tax Expense [Abstract]
 
 
 
Current Federal Tax Expense (Benefit)
$ 4,747 
$ 5,002 
$ 3,902 
Current State and Local Tax Expense (Benefit)
511 
428 
338 
Current Income Tax Expense (Benefit)
5,258 
5,430 
4,240 
Deferred Federal - Investment Tax Credit
(71)
(63)
(61)
Deferred Federal - Deferred Revenue
(77)
(75)
(75)
Deferred Federal - Land Donations
29 
392 
201 
Deferred Federal - Depreciation
2,411 
1,990 
1,909 
Deferred Federal - Other
(184)
(7)
5 
Deferred Federal Income Tax Expense (Benefit)
2,108 
2,237 
1,979 
Deferred State - Land Donations
(83)
0 
0 
Deferred State - Other
48 
9 
(354)
Deferred State and Local Income Tax Expense (Benefit)
(35)
9 
(354)
Deferred Income Tax Expense (Benefit)
2,073 
2,246 
1,625 
Total Income Tax Expense
$ 7,331 
$ 7,676 
$ 5,865 
Income Tax Expense Deferred Tax (Assets) Liabilities on Consolidated Balance Sheets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Income Tax Expense [Abstract]
 
 
Income Taxes Receivable, Noncurrent
$ (9,871)
$ (7,355)
Deferred Federal and State Income Taxes
40,869 
31,075 
Unfunded Future Income Taxes
8,992 
7,355 
Unamortized Investment Tax Credits
1,490 
1,313 
Other Deferred Income Tax (Assets) Liabilities
(207)
(185)
Net Deferred Income Tax (Asset) Liability
$ 41,273 
$ 32,203 
Income Tax Expense Components of Deferred Tax (Assets) Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Income Tax Expense [Abstract]
 
 
Tax Credit Carryforward, Amount
$ (2,487)
$ (2,533)
Prepaid Income Taxes on CIAC
(66)
4 
Deferred Tax Assets, Operating Loss Carryforwards
(385)
0 
Deferred Tax - Other Comprehensive Income
(842)
(486)
Accelerated Depreciation
46,379 
34,548 
Unamortized Investment Tax Credits
1,490 
1,313 
Other Deferred Tax (Assets) Liabilities
(2,816)
(643)
Net Deferred Income Tax (Asset) Liability
$ 41,273 
$ 32,203 
Income Tax Expense Calculation of Pre-Tax Income (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Income Tax Expense [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Net Income
$ 1,593 
$ 5,974 
$ 4,163 
$ 1,910 
$ 1,828 
$ 3,734 
$ 3,470 
$ 2,268 
$ 13,640 
$ 11,300 
$ 9,798 
Total Income Tax Expense
 
 
 
 
 
 
 
 
7,331 
7,676 
5,865 
Total Pre-Tax Income
 
 
 
 
 
 
 
 
$ 20,971 
$ 18,976 
$ 15,663 
Income Tax Expense Differences Between the Effective Income Tax Rate and the Statutory Federal Tax Rate (Details)
12 Months Ended
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Dec. 31, 2010
Rate
Income Tax Expense [Abstract]
 
 
 
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate
40.00% 
30.00% 
30.00% 
Effective Income Tax Rate Reconciliation, State and Local Income Taxes
0.00% 
0.00% 
0.00% 
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation
0.00% 
0.00% 
0.00% 
Effective Income Tax Rate Reconciliation, Tax Credits
0.00% 
0.00% 
0.00% 
Effective Income Tax Rate Reconciliation, Pension Costs
0.00% 
0.00% 
0.00% 
effective income tax rate reconciliation, Unamortized Debt Expense
0.00% 
0.00% 
0.00% 
Effective Income Tax Rate Reconciliation, Other Adjustments
0.00% 
0.00% 
0.00% 
Effective Income Tax Rate, Continuing Operations
40.00% 
40.00% 
40.00% 
Common Stock Summary of Common Stock (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Class of Stock [Line Items]
 
 
 
 
 
Common Stock, Shares, Outstanding
 
10,939,486 
8,755,398 
8,676,849 
8,573,744 
Common Stock Gross, Value, Issued
 
$ 138,949 
$ 73,958 
$ 71,636 
$ 68,896 
Common Stock Issuance Expense, Value, Issued
 
(4,076)
(1,613)
(1,612)
(1,610)
Shares Issued Through Performance Stock Program
 
34,301 
20,210 
31,282 
 
Shares Issued Through Performance Stock Program, Value
 
1,213 
824 
1,077 
 
Shares Issued Through Performance Stock Program, Value, Expense
0 
0 
 
0 
 
Shares Issued Through Performance Stock Program, Value, Net
824 
1,213 
 
1,077 
 
Stock Issued During Period, Shares, Dividend Reinvestment Plan
 
50,048 
52,668 
57,749 
 
Stock Issued During Period, Value, Dividend Reinvestment Plan
 
1,486 
1,346 
1,358 
 
Stock Issued During Period, Dividend Reinvestment Plan, Expense
0 
0 
 
0 
 
Stock Issued During Period, Dividend Reinvestment Plan, Net
1,346 
1,486 
 
1,358 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period
 
23,235 
5,671 
14,074 
 
Stock Issued During Period, Value, Stock Options Exercised
 
665 
152 
305 
 
Stock Issued During Period, Stock Options Exercised, Expense
(1)
(3)
 
(2)
 
Stock Issued During Period, Stock Options Exercised, Net
151 
662 
 
303 
 
Stock Issued During Period, Shares, Acquisitions
 
380,254 
 
 
 
Stock Issued During Period, Value, Acquisitions
 
12,012 
0 
0 
 
Stock Issued During Period, Acquisitions, Expense
 
(154)
 
 
 
Stock Issued During Period, Acquisitions, Net
 
11,858 
 
 
 
Stock Issued During Period, Shares, New Issues
 
1,696,250 
 
 
 
Stock Issued During Period, Value, New Issues
 
49,615 
 
 
 
Stock Issued During Period, New Issues, Expense
 
(2,306)
 
 
 
Stock Issued During Period, New Issues, Net
 
47,309 
 
 
 
Common Stock Without Par Value: Authorized - 25,000,000 Shares - Issued and Outstanding: 2012 - 8,848,848; 2011 - 8,755,398
 
$ 134,873 
$ 72,345 
$ 70,024 
$ 67,286 
Common Stock In Text Linking (Details)
Dec. 31, 2012
Class of Stock [Line Items]
 
Restricted Shares Outstanding
43,315 
Common Stock Equivalent Shares Outstanding
140,235 
Retained Earnings Retained Earnings Rollforward (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Retained Earnings [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Retained Earnings (Accumulated Deficit)
$ 51,804 
 
 
 
$ 46,669 
 
 
 
$ 51,804 
$ 46,669 
$ 43,603 
$ 41,785 
Net Income
1,593 
5,974 
4,163 
1,910 
1,828 
3,734 
3,470 
2,268 
13,640 
11,300 
9,798 
 
Retained Earnings before Dividends
 
 
 
 
 
 
 
 
60,309 
54,903 
51,583 
 
Preferred Stock Dividend Requirement
 
 
 
 
 
 
 
 
38 
38 
38 
 
Dividends, Common Stock
 
 
 
 
 
 
 
 
8,467 
8,196 
7,942 
 
Dividends
 
 
 
 
 
 
 
 
8,505 
8,234 
7,980 
 
Cumulative Preferred Stock
 
 
 
 
 
 
 
 
 
 
 
 
Retained Earnings [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock Dividend Requirement
 
 
 
 
 
 
 
 
26 
26 
26 
 
Series A Voting
 
 
 
 
 
 
 
 
 
 
 
 
Retained Earnings [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock Dividend Requirement
 
 
 
 
 
 
 
 
$ 12 
$ 12 
$ 12 
 
Organizational Review In Text Details (Details) (USD $)
12 Months Ended
Dec. 31, 2010
Restructuring Cost and Reserve [Line Items]
 
Severance Related Payments
$ 583,000 
Employee Benefit Related Payments
122,000 
Legal and Outsourcing Payments
$ 81,000 
Fair Value Disclosures Fair Value of Financial Instruments (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
$ 3,612 
$ 3,149 
Fair Value, Inputs, Level 1 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
1,074 
880 
Fair Value, Inputs, Level 2 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Assets, Fair Value Disclosure
2,538 
2,269 
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
2,538 
2,269 
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
2,538 
2,269 
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
28 
28 
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
28 
28 
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
1,046 
852 
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
1,046 
852 
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
Dec. 31, 2012
Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Long-term Debt, Fair Value
$ 194,900 
$ 135,084 
Long-term Debt
$ 178,475 
$ 135,256 
Long-Term Debt Long-Term Debt (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
$ 178,475,000 
$ 135,256,000 
Long-term Debt, Current Maturities
(1,304,000)
0 
Long-term Debt
178,475,000 
135,256,000 
Connecticut Water Service Term Loan Note and Supplement A [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
17,337,000 
0 
Subsidiaries [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
134,957,000 
135,256,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 1998, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
0 
9,550,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series B Issued 1998, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
0 
7,495,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2003, Due 2020 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
0 
8,000,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series C Issued 2003, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
0 
14,795,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series Issued 2004, Due 2029 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
12,500,000 
12,500,000 
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
5,000,000 
5,000,000 
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
4,550,000 
4,550,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A 2005, Due 2040 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
0 
14,805,000 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2007, Due 2037 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
14,550,000 
14,570,000 
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
19,950,000 
20,000,000 
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
23,797,000 
23,991,000 
Subsidiaries [Member] |
CoBank Note Payable, Due 2020 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
8,000,000 
0 
Subsidiaries [Member] |
CoBank Note Payable Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
14,795,000 
0 
Subsidiaries [Member] |
CoBank Note Payable Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
17,020,000 
0 
Subsidiaries [Member] |
CoBank Note Payable Due 2032 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
14,795,000 
0 
Maine Water Company [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
17,200,000 
0 
Maine Water Company [Member] |
Maine Water Company Series G [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
9,000,000 
0 
Maine Water Company [Member] |
Maine Water Company Series J [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
524,000 
0 
Maine Water Company [Member] |
Maine Water Company Series K [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
780,000 
0 
Maine Water Company [Member] |
Maine Water Company Series L [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
98,000 
0 
Maine Water Company [Member] |
Maine Water Company Series M [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
421,000 
0 
Maine Water Company [Member] |
Maine Water Company Series N [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
471,000 
0 
Maine Water Company [Member] |
Maine Water Company Series O [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
147,000 
0 
Maine Water Company [Member] |
Maine Water Company Series P [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
471,000 
0 
Maine Water Company [Member] |
Maine Water Company Series R [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
247,000 
0 
Maine Water Company [Member] |
Maine Water Company Series S [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
762,000 
0 
Maine Water Company [Member] |
Maine Water Company Series T [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
2,137,000 
0 
Maine Water Company [Member] |
2012 Series U, Due 2042 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
177,000 
0 
Maine Water Company [Member] |
CoBank Note Payable, Due 2017 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,965,000 
0 
Maine Water Company [Member] |
Fair Value Adjustment of Long-Term Debt Assume [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,696,000 
0 
Biddeford & Saco Water Company [Member] |
Series M, Due 2014 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
2,700,000 
0 
Biddeford & Saco Water Company [Member] |
Series L, Due 2018 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
2,250,000 
0 
Biddeford & Saco Water Company [Member] |
Series N, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,297,000 
0 
Biddeford & Saco Water Company [Member] |
Series O, Due 2025 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
862,000 
0 
Biddeford & Saco Water Company [Member] |
Series P, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
1,354,000 
0 
Biddeford & Saco Water Company [Member] |
Long Term Capital Leases [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Excluding Current Maturities
126,000 
0 
Biddeford and Saco [Member]
 
 
Debt Instrument [Line Items]
 
 
Long-term Debt, Current Maturities
$ 8,589,000 
$ 0 
Long-Term Debt Long-Term Debt Parenthetical (Details)
Dec. 31, 2012
Dec. 31, 2011
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 1998, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.05% 
5.05% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series B Issued 1998, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.13% 
5.13% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2003, Due 2020 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.40% 
4.40% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series C Issued 2003, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A 2005, Due 2040 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2007, Due 2037 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
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% 
Maine Water Company [Member] |
Maine Water Company Series G [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
9.00% 
9.00% 
Maine Water Company [Member] |
Maine Water Company Series J [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
3.00% 
3.00% 
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
3.00% 
3.00% 
Maine Water Company [Member] |
Maine Water Company Series M [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
Maine Water Company [Member] |
Maine Water Company Series N [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
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
2.00% 
2.00% 
Maine Water Company [Member] |
Maine Water Company Series R [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
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% 
Long-Term Debt Long-Term Debt in Text (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Debt Instrument [Line Items]
 
 
 
Long-term Debt, Current Maturities
$ (1,304,000)
$ 0 
 
Proceeds from Issuance of Long-term Debt
92,840,000 
8,061,000 
0 
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2011 Due 2021 [Member]
 
 
 
Debt Instrument [Line Items]
 
 
 
Long-term Debt, Description
22.05 
 
 
Proceeds from Issuance of Long-term Debt
24,000,000 
 
 
Debt Instrument, Interest Rate Terms
.05 
 
 
Debt Instrument, Face Amount
$ 22,050,000 
 
 
Debt Instrument, Maturity Date
Dec. 20, 2021 
 
 
Long-Term Debt Schedule of Long Term Debt Maturities (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Long-term Debt, Unclassified [Abstract]
 
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months
$ 1,304 
Long-term Debt, Maturities, Repayments of Principal in Year Two
4,103 
Long-term Debt, Maturities, Repayments of Principal in Year Three
2,442 
Long-term Debt, Maturities, Repayments of Principal in Year Four
2,486 
Long-term Debt, Maturities, Repayments of Principal in Year Five
$ 4,501 
Long-Term Debt Paranthetical (Details)
Dec. 31, 2012
Dec. 31, 2011
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 1998, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.05% 
5.05% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series B Issued 1998, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.13% 
5.13% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2003, Due 2020 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
4.40% 
4.40% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series C Issued 2003, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A 2005, Due 2040 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
Subsidiaries [Member] |
Unsecured Water Facilities Revenue Refinancing Bonds Series A Issued 2007, Due 2037 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
5.00% 
5.00% 
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% 
Maine Water Company [Member] |
Maine Water Company Series G [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
9.00% 
9.00% 
Maine Water Company [Member] |
Maine Water Company Series J [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
3.00% 
3.00% 
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
3.00% 
3.00% 
Maine Water Company [Member] |
Maine Water Company Series M [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
Maine Water Company [Member] |
Maine Water Company Series N [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
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
2.00% 
2.00% 
Maine Water Company [Member] |
Maine Water Company Series R [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
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] |
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
6.00% 
6.00% 
Biddeford & Saco Water Company [Member] |
Series L, Due 2018 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
8.00% 
8.00% 
Biddeford & Saco Water Company [Member] |
Series N, Due 2022 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
Biddeford & Saco Water Company [Member] |
Series O, Due 2025 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
Biddeford & Saco Water Company [Member] |
Series P, Due 2028 [Member]
 
 
Debt Instrument [Line Items]
 
 
Debt Instrument, Interest Rate, Stated Percentage
2.00% 
2.00% 
Preferred Stock Preferred Stock (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Class of Stock [Line Items]
 
 
 
Preferred Stock
$ 772 
$ 772 
$ 772 
Series A [Member]
 
 
 
Class of Stock [Line Items]
 
 
 
Preferred Stock
300 
 
300 
Cumulative Preferred Stock
 
 
 
Class of Stock [Line Items]
 
 
 
Preferred Stock
$ 472 
 
$ 472 
Preferred Stock In Text Linking (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
Dec. 31, 2012
Series A [Member]
 
Class of Stock [Line Items]
 
Preferred Stock, Redemption Price Per Share
$ 21.00 
Cumulative Preferred Stock
 
Class of Stock [Line Items]
 
Preferred Stock, Redemption Price Per Share
$ 16.00 
Preferred Stock, $25 par value [Member]
 
Class of Stock [Line Items]
 
Preferred Stock, Shares Authorized
400 
Preferred Stock, $1 Par Value [Member]
 
Class of Stock [Line Items]
 
Preferred Stock, Shares Authorized
1,000 
Lines of Credit Lines of Credit (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Short-term Debt [Line Items]
 
 
Line of Credit Facility, Current Borrowing Capacity
$ 37 
 
Line of Credit, Current
1.7 
21.4 
Line of Credit Facility, Remaining Borrowing Capacity
35.6 
 
Short-term Debt, Weighted Average Interest Rate
2.00% 
2.00% 
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 
 
BSWC Line of Credit [Member]
 
 
Short-term Debt [Line Items]
 
 
Line of Credit Facility, Current Borrowing Capacity
$ 2 
 
Utility Plant Components of Utility Plant (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Property, Plant and Equipment [Line Items]
 
 
Land
$ 12,512 
$ 10,623 
Source of Supply
33,627 
29,687 
Pumping Equipment
35,337 
30,653 
Water Treatment
75,684 
56,799 
Public Utilities, Property, Plant and Equipment, Transmission and Distribution
411,923 
325,174 
General Plant
47,444 
39,619 
Plant Held for Future Use Amount
437 
472 
Acquisition Adjustment
(5,177)
(5,487)
Utility Plant
$ 611,787 
$ 487,540 
Utility Plant In Text Linking (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Property, Plant and Equipment [Line Items]
 
 
Depreciable Plant
$ 559,109,000 
$ 437,241,000 
Taxes Other than Income Taxes Taxes Other than Income Taxes (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Component of Operating Other Cost and Expense [Line Items]
 
 
 
Amortization of Deferred Property Taxes
$ 6,567 
$ 5,529 
$ 5,293 
Payroll Taxes
1,132 
912 
978 
Taxes Other Than Income Taxes
$ 7,699 
$ 6,441 
$ 6,271 
Pension and Other Post-Retirement Benefits Pension Benefit Cost (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
 
 
 
Defined Benefit Plan, Expected Return on Plan Assets
$ 0 
 
 
Pension Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
 
 
 
Defined Benefit Plan, Service Cost
2,020 
1,523 
1,668 
Defined Benefit Plan, Interest Cost
2,570 
2,134 
2,175 
Defined Benefit Plan, Expected Return on Plan Assets
(2,693)
(2,456)
(2,507)
Defined Benefit Plan, Amortization of Transition Obligations (Assets)
0 
2 
2 
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
74 
69 
69 
Defined Benefit Plan, Amortization of Gains (Losses)
1,753 
687 
602 
Defined Benefit Plan, Net Periodic Benefit Cost
3,724 
1,959 
2,009 
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
548 
599 
567 
Defined Benefit Plan, Interest Cost
538 
623 
574 
Defined Benefit Plan, Expected Return on Plan Assets
(269)
(267)
(306)
Defined benefit plan amortization of regulatory assets
225 
225 
225 
Defined Benefit Plan, Amortization of Transition Obligations (Assets)
(806)
(665)
(406)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
615 
613 
329 
Defined Benefit Plan, Amortization of Gains (Losses)
$ 851 
$ 1,128 
$ 983 
Pension and Other Post-Retirement Benefits In Text Linking (Details) (USD $)
8 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Pension Plans, Defined Benefit [Member]
Rate
Dec. 31, 2011
Pension Plans, Defined Benefit [Member]
Rate
Dec. 31, 2010
Pension Plans, Defined Benefit [Member]
Rate
Dec. 31, 2012
BSWC Pension Plans, Defined Benefit [Member]
Rate
Dec. 31, 2012
Other Postretirement Benefit Plans, Defined Benefit [Member]
Rate
Dec. 31, 2011
Other Postretirement Benefit Plans, Defined Benefit [Member]
Rate
Dec. 31, 2010
Other Postretirement Benefit Plans, Defined Benefit [Member]
Rate
Dec. 31, 2012
Barnstable Water PBOP [Member]
Dec. 31, 2011
Barnstable Water PBOP [Member]
Dec. 31, 2012
Supplemental Executive Retirement Plan [Member]
Dec. 31, 2011
Supplemental Executive Retirement Plan [Member]
Dec. 31, 2010
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Net Periodic Benefit Cost
 
 
 
$ 3,724,000 
$ 1,959,000 
$ 2,009,000 
$ 4,000 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Accumulated Benefit Obligation
 
 
 
56,967,000 
41,855,000 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Expected Return on Plan Assets
 
0 
 
2,693,000 
2,456,000 
2,507,000 
 
269,000 
267,000 
306,000 
 
 
 
 
 
Defined Benefit Plan, Contributions by Employer
 
 
 
585,000 
1,200,000 
 
 
22,000 
235,000 
 
 
 
 
 
 
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year
 
 
 
2,490,000 
 
 
 
850,000 
 
 
 
 
 
 
 
Defined Benefit Plan, Benefit Obligation
 
 
 
66,501,000 
49,102,000 
40,758,000 
4,076,000 
13,322,000 
12,842,000 
13,443,000 
54,000 
54,000 
5,887,000 
4,495,000 
 
Defined Benefit Plan, Fair Value of Plan Assets
 
 
 
45,406,000 
36,783,000 
36,990,000 
2,985,000 
7,133,000 
6,465,000 
6,475,000 
 
 
3,612,000 
3,149,000 
 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate
 
 
 
4.00% 
5.00% 
 
4.00% 
4.00% 
4.00% 
 
 
 
 
 
 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets
 
 
 
7.00% 
7.00% 
8.00% 
8.50% 
5.00% 
5.00% 
5.00% 
 
 
 
 
 
Life-Time Benefit Limit on PBOP
 
100,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
2011 Periodic Benefit Cost Savings from Life Time Benefit Limit of PBOP
488,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan, Amortization of Gains (Losses)
 
 
 
(1,753,000)
(687,000)
(602,000)
 
(851,000)
(1,128,000)
(983,000)
 
 
(634,000)
(409,000)
(423,000)
Defined Contribution Plan, Cost Recognized
 
$ 485,000 
$ 419,000 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and Other Post-Retirement Benefits Components of Long-Term Compensation Arrangements (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
LONG-TERM COMPENSATION BENEFITS [Abstract]
 
 
Long-Term Compensation Defined Benefit Pension Plan
$ 22,139 
$ 12,319 
Long-Term Compensation Post Retirement Other Than Pension
6,243 
6,431 
Long-Term Compensation Supplemental Retirement Plan
6,224 
4,843 
Long-Term Compensation Deferred Compensation
1,639 
1,411 
Long-Term Compensation Other Long-Term Compensation
185 
228 
Long-Term Compensation Arrangements
$ 36,430 
$ 25,232 
Pension and Other Post-Retirement Benefits Target Asset Allocation (Details)
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
LONG-TERM COMPENSATION ARRAGEMENTS [Abstract]
 
 
Targeted Equity Allocation
65.00% 
100.00% 
Targeted Fixed Income Allocation
35.00% 
0.00% 
Total Asset Allocation
100.00% 
100.00% 
Pension and Other Post-Retirement Benefits Benefit Plan Obligation Table (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Benefit Obligation
$ 13,322,000 
$ 12,842,000 
$ 13,443,000 
Defined Benefit Plan, Service Cost
548,000 
599,000 
567,000 
Defined Benefit Plan, Interest Cost
538,000 
623,000 
574,000 
Defined Benefit Plan, Actuarial Gain (Loss)
(275,000)
901,000 
 
Defined Benefit Plan, Benefits Paid
(424,000)
(376,000)
 
Defined Benefit Plan, Fair Value of Plan Assets
7,133,000 
6,465,000 
6,475,000 
Defined Benefit Plan, Actual Return on Plan Assets
977,000 
46,000 
 
Defined Benefit Plan, Contributions by Employer
22,000 
235,000 
 
Defined Benefit Plan, Funded Status of Plan
(6,189,000)
(6,377,000)
 
Pension And Other Postretirement Defined Benefit Plans Non-Current Assets
0 
0 
 
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities
0 
0 
 
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent
(6,189,000)
(6,377,000)
 
Defined Benefit Plan, Amounts Recognized in Balance Sheet
(6,189,000)
(6,377,000)
 
Defined Benefit Plan, Contributions by Plan Participants
93,000 
85,000 
 
Defined Benefit Plan, Plan Amendments
0 
(2,433,000)
 
Pension Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Benefit Obligation
66,501,000 
49,102,000 
40,758,000 
Defined Benefit Plan, Service Cost
2,020,000 
1,523,000 
1,668,000 
Defined Benefit Plan, Interest Cost
2,570,000 
2,134,000 
2,175,000 
Defined Benefit Plan, Actuarial Gain (Loss)
14,494,000 
5,878,000 
 
Defined Benefit Plan, Benefits Paid
(1,685,000)
(1,191,000)
 
Defined Benefit Plan, Fair Value of Plan Assets
45,406,000 
36,783,000 
36,990,000 
Defined Benefit Plan, Actual Return on Plan Assets
9,723,000 
(216,000)
 
Defined Benefit Plan, Contributions by Employer
585,000 
1,200,000 
 
Defined Benefit Plan, Funded Status of Plan
(21,095,000)
(12,319,000)
 
Pension And Other Postretirement Defined Benefit Plans Non-Current Assets
0 
0 
 
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities
0 
0 
 
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent
(21,095,000)
(12,319,000)
 
Defined Benefit Plan, Amounts Recognized in Balance Sheet
$ (21,095,000)
$ (12,319,000)
 
Pension and Other Post-Retirement Benefits Net Periodic Benefit Costs (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Expected Return on Plan Assets
$ 0 
 
 
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Service Cost
548 
599 
567 
Defined Benefit Plan, Interest Cost
538 
623 
574 
Defined Benefit Plan, Expected Return on Plan Assets
(269)
(267)
(306)
Defined Benefit Plan, Amortization of Transition Obligations (Assets)
(806)
(665)
(406)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
615 
613 
329 
Defined Benefit Plan, Amortization of Gains (Losses)
851 
1,128 
983 
Defined benefit plan amortization of regulatory assets
225 
225 
225 
Pension Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Service Cost
2,020 
1,523 
1,668 
Defined Benefit Plan, Interest Cost
2,570 
2,134 
2,175 
Defined Benefit Plan, Expected Return on Plan Assets
(2,693)
(2,456)
(2,507)
Defined Benefit Plan, Amortization of Transition Obligations (Assets)
0 
2 
2 
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
74 
69 
69 
Defined Benefit Plan, Amortization of Gains (Losses)
1,753 
687 
602 
Defined Benefit Plan, Net Periodic Benefit Cost
$ 3,724 
$ 1,959 
$ 2,009 
Pension and Other Post-Retirement Benefits Benefit Plan Assumptions (Details)
12 Months Ended
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Dec. 31, 2010
Rate
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate
4.00% 
5.00% 
6.00% 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate
4.00% 
4.00% 
 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets
5.00% 
5.00% 
5.00% 
Pension Plans, Defined Benefit [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate
5.00% 
6.00% 
6.00% 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate
4.00% 
5.00% 
 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase
4.00% 
4.00% 
 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets
7.00% 
7.00% 
8.00% 
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase
4.00% 
4.00% 
5.00% 
Pension and Other Post-Retirement Benefits Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Liability (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Liability [Line Items]
 
 
Change in Net Loss (Gain) Recognized as Regulatory Asset (Liability)
$ (1,028)
$ 1,123 
Change in Transition Obligation (Credit) Recognized as Regulatory Asset (Liability)
(10)
(2,433)
Amortization of Transition Obligation Recognized as Regulatory Asset (Liability)
0 
0 
Amortization of Prior Service Cost Recognized as Regulatory Asset (Liability)
806 
665 
Amortization of Net Loss Recognized as Regulatory Asset (Liability)
(615)
(613)
Total Recognized to Regulatory Asset
(847)
(1,258)
Pension Plans, Defined Benefit [Member]
 
 
Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Liability [Line Items]
 
 
Change in Net Loss (Gain) Recognized as Regulatory Asset (Liability)
6,254 
8,550 
Change Prior Service Cost Recognized as Regulatory Asset (Liability)
14 
0 
Amortization of Transition Obligation Recognized as Regulatory Asset (Liability)
0 
(2)
Amortization of Prior Service Cost Recognized as Regulatory Asset (Liability)
(74)
(69)
Amortization of Net Loss Recognized as Regulatory Asset (Liability)
(1,753)
(687)
Total Recognized to Regulatory Asset
$ 4,441 
$ 7,792 
Pension and Other Post-Retirement Benefits Amounts Recognized as Regulatory Asset (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
Amounts Recognized as Regulatory Asset [Line Items]
 
 
Amounts Recognized as Regulatory Asset - Transition Obligation
$ 0 
$ 0 
Amounts Recognized as Regulatory Asset - Prior Service Cost
(2,766)
(3,563)
Amounts Recognized as Regulatory Asset - Net Loss
4,590 
6,234 
Total Recognized as a Regulatory Asset
1,824 
2,671 
Pension Plans, Defined Benefit [Member]
 
 
Amounts Recognized as Regulatory Asset [Line Items]
 
 
Amounts Recognized as Regulatory Asset - Transition Obligation
0 
0 
Amounts Recognized as Regulatory Asset - Prior Service Cost
249 
309 
Amounts Recognized as Regulatory Asset - Net Loss
18,069 
13,553 
Total Recognized as a Regulatory Asset
$ 18,318 
$ 13,862 
Pension and Other Post-Retirement Benefits Amounts Recognized in Comprehensive Income (Details) (Pension Plans, Defined Benefit [Member], USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Pension Plans, Defined Benefit [Member]
 
 
 
Amounts Recognized in Other Comprehensive Income [Line Items]
 
 
 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Transition Assets (Obligations), before Tax
$ 0 
$ 0 
$ 0 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax
0 
0 
0 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax
538 
554 
327 
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax
$ 538 
$ 554 
$ 327 
Pension and Other Post-Retirement Benefits Estimated Net Benefit Cost Amortizations (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
Estimated Amortization of Net Transition Obligation
$ 0 
Estimated Amortization of Prior Service Cost
(806)
Estimated Amortization of Net Loss
394 
Total Estimated Net Periodic Benefit Cost Amortizations
(412)
Pension Plans, Defined Benefit [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
Estimated Amortization of Net Transition Obligation
0 
Estimated Amortization of Prior Service Cost
74 
Estimated Amortization of Net Loss
1,964 
Total Estimated Net Periodic Benefit Cost Amortizations
$ 2,038 
Pension and Other Post-Retirement Benefits Actual Asset Allocation (Details)
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
Acutal Asset Allocation [Line Items]
 
 
Actual Equity Allocation
65.00% 
63.00% 
Actual Fixed Income Allocation
35.00% 
37.00% 
Total Actual Asset Allocation
100.00% 
100.00% 
Pension Plans, Defined Benefit [Member]
 
 
Acutal Asset Allocation [Line Items]
 
 
Actual Equity Allocation
64.00% 
66.00% 
Actual Fixed Income Allocation
36.00% 
34.00% 
Total Actual Asset Allocation
100.00% 
100.00% 
Pension and Other Post-Retirement Benefits Fair Value of Benefit Plan Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 7,133 
$ 6,465 
$ 6,475 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
7,133 
6,465 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Money Market Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
116 
160 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Money Market Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Money Market Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Fixed Income Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
2,379 
2,234 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Fixed Income Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Fixed Income Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Equity Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
4,638 
4,071 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Equity Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Other Postretirement Benefit Plans, Defined Benefit [Member] |
Equity Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
45,406 
36,783 
36,990 
Pension Plans, Defined Benefit [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
45,406 
36,783 
 
Pension Plans, Defined Benefit [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Money Market Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
483 
172 
 
Pension Plans, Defined Benefit [Member] |
Money Market Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Money Market Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Fixed Income Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
15,769 
12,491 
 
Pension Plans, Defined Benefit [Member] |
Fixed Income Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Fixed Income Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Equity Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
29,154 
24,120 
 
Pension Plans, Defined Benefit [Member] |
Equity Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
0 
0 
 
Pension Plans, Defined Benefit [Member] |
Equity Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
 
Fair Value of Benefit Plan Assets [Line Items]
 
 
 
Defined Benefit Plan, Fair Value of Plan Assets
$ 0 
$ 0 
 
Pension and Other Post-Retirement Benefits Expected Future Benefit Payments (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
Expected Future Benefit Payments [Line Items]
 
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months
$ 354 
Defined Benefit Plan, Expected Future Benefit Payments, Year Two
382 
Defined Benefit Plan, Expected Future Benefit Payments, Year Three
414 
Defined Benefit Plan, Expected Future Benefit Payments, Year Four
44 
Defined Benefit Plan, Expected Future Benefit Payments, Year Five
505 
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter
3,363 
Pension Plans, Defined Benefit [Member]
 
Expected Future Benefit Payments [Line Items]
 
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months
2,701 
Defined Benefit Plan, Expected Future Benefit Payments, Year Two
2,880 
Defined Benefit Plan, Expected Future Benefit Payments, Year Three
3,383 
Defined Benefit Plan, Expected Future Benefit Payments, Year Four
3,723 
Defined Benefit Plan, Expected Future Benefit Payments, Year Five
3,831 
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter
$ 25,124 
Pension and Other Post-Retirement Benefits Assumed Health Care Trend Rates (Details)
12 Months Ended
Dec. 31, 2012
Rate
Dec. 31, 2011
Rate
Medical [Member]
 
 
Assumed Health Care Trend Rates [Line Items]
 
 
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year
10.00% 
10.00% 
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate
5.00% 
5.00% 
Year That the Rate Reaches the Ultimate Trend Rate
2023 
2022 
Dental [Member]
 
 
Assumed Health Care Trend Rates [Line Items]
 
 
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year
10.00% 
10.00% 
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate
5.00% 
5.00% 
Year That the Rate Reaches the Ultimate Trend Rate
2023 
2022 
Pension and Other Post-Retirement Benefits Percentage Change in Assumed Health Care Cost Trend Rates (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components
$ 70 
 
Defined Benefit Plan, Effect of One Percentage Point Decrease on Service and Interest Cost Components
 
(66)
Defined Benefit Plan, Effect of One Percentage Point Increase on Accumulated Postretirement Benefit Obligation
957 
 
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation
 
$ (893)
Stock Based Compensation Plans In Text Linking (Details) (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value
$ 82,000 
 
 
Allocated Share-based Compensation Expense
1,544,000 
945,000 
1,190,000 
Shares To Begin Vesting in Next Fiscal Year
12,000 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value
4,000 
 
 
Aggregate Intrinsic Value of Performance Based Awards
798,000 
 
 
2004 Performance Stock Program [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized
700,000 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant
456,094 
 
 
1994 Performance Stock Program [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized
700,000 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant
219,876 
 
 
Non-Performance Based Awards [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Allocated Share-based Compensation Expense
0 
78,000 
109,000 
Performance Based Awards [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Allocated Share-based Compensation Expense
$ 1,544,000 
$ 867,000 
$ 1,080,000 
Stock Based Compensation Plans Stock Option Rollforward (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number
7,744 
30,979 
53,674 
77,388 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price
$ 29.05 
$ 27.63 
$ 27.54 
$ 26.24 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period
0 
(17,024)
(9,640)
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price
$ 0.00 
$ 27.95 
$ 27.54 
 
Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period
(23,235)
(5,671)
(14,074)
 
Share Based Compensation Arrangement By Share Based Payment Award Options Exercised In Period Weighted Average Exercise Price
$ 27.16 
$ 25.78 
$ 20.42 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number
7,744 
30,979 
53,674 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price
$ 29.05 
$ 27.63 
$ 27.54 
 
Stock Based Compensation Plans Price Ranges of Options Outstanding and Exercisable (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
 
Options Exercisable, Shares
7,744 
Options Outstanding, Weighted Average Remaining Life
10 months 24 days 
Options Outstanding, Weighted Average Exercise Price
$ 29,050 
$18.00 - $23.99
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
 
Range of prices, Lower limit
$ 18.00 
Range of prices, Upper limit
$ 23.99 
Options Exercisable, Shares
0 
Options Outstanding, Weighted Average Remaining Life
0 years 
Options Outstanding, Weighted Average Exercise Price
$ 0 
$24.00 - $26.99
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
 
Range of prices, Lower limit
$ 24.00 
Range of prices, Upper limit
$ 26.99 
Options Exercisable, Shares
0 
Options Outstanding, Weighted Average Remaining Life
0 years 
Options Outstanding, Weighted Average Exercise Price
$ 0 
$27.00 - $29.99
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
 
Range of prices, Lower limit
$ 27.00 
Range of prices, Upper limit
$ 29.99 
Options Exercisable, Shares
7,744 
Options Outstanding, Weighted Average Remaining Life
10 months 24 days 
Options Outstanding, Weighted Average Exercise Price
$ 29,050 
Stock Based Compensation Plans Non-Performance Based Share Awards (Details) (Non-Performance Based Awards [Member], USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Non-Performance Based Awards [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options, Non-Vested Shares Outstanding
0 
900 
4,079 
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options, Non-Vested Shares Outstanding, Weighted Average Grant Date Fair Value
$ 0 
$ 19,690 
$ 25,430 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period
0 
0 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 0 
$ 0 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
(900)
(3,179)
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 19,690 
$ 27,700 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period
0 
0 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value
$ 0 
$ 0 
 
Stock Based Compensation Plans Performance Based Share Awards (Details) (Performance Based Awards [Member], USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Performance Based Awards [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options, Non-Vested Shares Outstanding
42,177 
36,105 
48,074 
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options, Non-Vested Shares Outstanding, Weighted Average Grant Date Fair Value
$ 28,340 
$ 25,590 
$ 23,570 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period
27,703 
23,391 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 29,000 
$ 26,000 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
(21,274)
(24,323)
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 24,860 
$ 22,950 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period
(357)
(11,037)
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value
$ 26,000 
$ 23,000 
 
Segment Reporting Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Segment Reporting Information [Line Items]
 
 
 
Revenues
$ 92,561 
$ 75,574 
$ 72,827 
Depreciation, Depletion and Amortization
9,789 
7,780 
7,095 
Operating Expenses
51,711 
42,225 
43,919 
Other Income (Deductions)
(1,760)
(1,148)
(525)
Interest Expense (Net of AFUDC)
8,330 
5,445 
5,625 
Income Tax Expense (Benefit), Continuing Operations
7,331 
7,676 
5,865 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
13,640 
11,300 
9,798 
Water Activities [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Revenues
85,325 
70,892 
67,753 
Depreciation, Depletion and Amortization
9,782 
7,773 
7,088 
Operating Expenses
48,153 
39,211 
40,301 
Other Income (Deductions)
(1,760)
(1,148)
(525)
Interest Expense (Net of AFUDC)
8,343 
5,486 
5,682 
Income Tax Expense (Benefit), Continuing Operations
6,022 
7,151 
5,488 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
11,265 
10,123 
8,669 
Real Estate Transactions [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Revenues
1,450 
0 
0 
Depreciation, Depletion and Amortization
0 
0 
0 
Operating Expenses
119 
0 
0 
Other Income (Deductions)
0 
0 
0 
Interest Expense (Net of AFUDC)
0 
0 
0 
Income Tax Expense (Benefit), Continuing Operations
380 
(176)
(230)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
951 
176 
230 
Services and Rentals [Member]
 
 
 
Segment Reporting Information [Line Items]
 
 
 
Revenues
5,786 
4,682 
5,074 
Depreciation, Depletion and Amortization
7 
7 
7 
Operating Expenses
3,439 
3,014 
3,618 
Other Income (Deductions)
0 
0 
0 
Interest Expense (Net of AFUDC)
(13)
(41)
(57)
Income Tax Expense (Benefit), Continuing Operations
929 
701 
607 
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
$ 1,424 
$ 1,001 
$ 899 
Segment Reporting Segment Reporting Textual Information (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$ 19,489,000 
$ 24,461,000 
$ 21,348,000 
$ 18,540,000 
$ 15,426,000 
$ 20,628,000 
$ 17,359,000 
$ 15,989,000 
$ 83,838,000 
$ 69,402,000 
$ 66,408,000 
Regulated Operating Revenue, Other
 
 
 
 
 
 
 
 
$ 1,487,000 
$ 1,490,000 
$ 1,345,000 
Segment Reporting Assets by Segment (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Segment Reporting Information [Line Items]
 
 
Total Plant and Other Investments
$ 454,305 
$ 365,590 
Other Assets
124,670 
77,341 
Assets
578,975 
442,931 
Water Activities [Member]
 
 
Segment Reporting Information [Line Items]
 
 
Total Plant and Other Investments
453,625 
364,955 
Other Assets
118,020 
75,096 
Services and Rentals and Real Estate Combine [Member]
 
 
Segment Reporting Information [Line Items]
 
 
Total Plant and Other Investments
680 
635 
Other Assets
$ 6,650 
$ 2,245 
Commitments and Contingencies In Text Linking (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2012
Loss Contingencies [Line Items]
 
Board Approved Capital Budget in Next Fiscal Year
$ 31.3 
The Connecticut Water Company [Member]
 
Loss Contingencies [Line Items]
 
Allowed Rate of Return on Equity
9.80% 
Allowed Return on Rate Base
7.32% 
Maine Water Company [Member]
 
Loss Contingencies [Line Items]
 
Allowed Rate of Return on Equity
10.00% 
Allowed Return on Rate Base
8.31% 
Biddeford & Saco Water Company [Member]
 
Loss Contingencies [Line Items]
 
Allowed Rate of Return on Equity
10.00% 
Quarterly Financial Data Quarterly Financial Data (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Quarterly Financial [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$ 19,489 
$ 24,461 
$ 21,348 
$ 18,540 
$ 15,426 
$ 20,628 
$ 17,359 
$ 15,989 
$ 83,838 
$ 69,402 
$ 66,408 
Operating Income (Loss)
3,534 
7,961 
5,199 
3,727 
3,235 
5,054 
4,580 
3,538 
20,421 
16,407 
14,577 
Net Income
$ 1,593 
$ 5,974 
$ 4,163 
$ 1,910 
$ 1,828 
$ 3,734 
$ 3,470 
$ 2,268 
$ 13,640 
$ 11,300 
$ 9,798 
Basic (in dollars per share)
$ 0.16 
$ 0.69 
$ 0.48 
$ 0.22 
$ 0.21 
$ 0.43 
$ 0.41 
$ 0.26 
$ 1.55 
$ 1.31 
$ 1.14 
Diluted (in dollars per share)
$ 0.16 
$ 0.67 
$ 0.47 
$ 0.22 
$ 210.00 
$ 0.42 
$ 0.40 
$ 0.26 
$ 1.53 
$ 1.29 
$ 1.13 
Earnings per Share Earnings per Share (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
Common Stock, Shares, Outstanding
10,939,486 
 
 
 
8,755,398 
 
 
 
10,939,486 
8,755,398 
8,676,849 
8,573,744 
Weighted Average Number of Shares Outstanding, Basic
 
 
 
 
 
 
 
 
8,763,000 
8,610,000 
8,532,000 
 
Diluted (in shares)
 
 
 
 
 
 
 
 
8,900,000 
8,720,000 
8,633,000 
 
Basic (in dollars per share)
$ 0.16 
$ 0.69 
$ 0.48 
$ 0.22 
$ 0.21 
$ 0.43 
$ 0.41 
$ 0.26 
$ 1.55 
$ 1.31 
$ 1.14 
 
Incremental Common Shares Attributal To Share Based Payements Arrangements
 
 
 
 
 
 
 
 
$ 0.02 
$ 0.02 
$ 0.01 
 
Diluted (in dollars per share)
$ 0.16 
$ 0.67 
$ 0.47 
$ 0.22 
$ 210.00 
$ 0.42 
$ 0.40 
$ 0.26 
$ 1.53 
$ 1.29 
$ 1.13 
 
Aquisitions Fair Value of Assets Acquired (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Business Acquisition [Line Items]
 
 
 
 
Public Utilities, Property, Plant and Equipment, Net
$ 447,911 
$ 360,027 
 
 
Cash and Cash Equivalents
13,150 
1,012 
952 
5,437 
Accounts Receivable, Net, Current
11,526 
8,436 
 
 
Prepayments and Other Current Assets
2,824 
1,830 
 
 
Goodwill
31,685 
3,608 
 
 
Deferred Charges and Other Costs
8,180 
6,442 
 
 
Total Assets
578,975 
442,931 
 
 
Long-term Debt
178,475 
135,256 
 
 
Accounts Payable and Accrued Expenses
10,016 
7,166 
 
 
Other Current Liabilities
2,008 
586 
 
 
Advances for Construction
31,030 
32,517 
 
 
Contributions in Aid of Construction
77,372 
60,679 
 
 
Deferred Federal and State Income Taxes
40,869 
31,075 
 
 
Other Long-Term Liabilities
2,319 
115 
 
 
Maine Water Company Acquisition [Member]
 
 
 
 
Business Acquisition [Line Items]
 
 
 
 
Public Utilities, Property, Plant and Equipment, Net
 
50,877 
 
 
Cash and Cash Equivalents
 
1,607 
 
 
Accounts Receivable, Net, Current
 
974 
 
 
Prepayments and Other Current Assets
 
1,819 
 
 
Goodwill
 
20,369 
 
 
Deferred Charges and Other Costs
 
4,498 
 
 
Total Assets
 
80,144 
 
 
Long-term Debt
 
18,259 
 
 
Accounts Payable and Accrued Expenses
 
1,137 
 
 
Other Current Liabilities
 
1,453 
 
 
Advances for Construction
 
1,186 
 
 
Contributions in Aid of Construction
 
8,886 
 
 
Deferred Federal and State Income Taxes
 
8,046 
 
 
Other Long-Term Liabilities
 
4,152 
 
 
Liabilities
 
43,119 
 
 
Assets, Net
 
37,025 
 
 
Biddeford and Saco [Member]
 
 
 
 
Business Acquisition [Line Items]
 
 
 
 
Public Utilities, Property, Plant and Equipment, Net
 
19,411 
 
 
Cash and Cash Equivalents
 
14 
 
 
Accounts Receivable, Net, Current
 
628 
 
 
Prepayments and Other Current Assets
 
545 
 
 
Goodwill
 
7,708 
 
 
Deferred Charges and Other Costs
 
554 
 
 
Total Assets
 
28,860 
 
 
Long-term Debt
 
9,263 
 
 
Accounts Payable and Accrued Expenses
 
254 
 
 
Other Current Liabilities
 
1,076 
 
 
Advances for Construction
 
714 
 
 
Contributions in Aid of Construction
 
2,568 
 
 
Deferred Federal and State Income Taxes
 
1,668 
 
 
Other Long-Term Liabilities
 
1,305 
 
 
Liabilities
 
16,848 
 
 
Assets, Net
 
$ 12,012 
 
 
Aquisitions Pro Forma Summary for Prior Year (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$ 19,489,000 
$ 24,461,000 
$ 21,348,000 
$ 18,540,000 
$ 15,426,000 
$ 20,628,000 
$ 17,359,000 
$ 15,989,000 
$ 83,838,000 
$ 69,402,000 
$ 66,408,000 
Regulated Operating Revenue, Other
 
 
 
 
 
 
 
 
1,487,000 
1,490,000 
1,345,000 
Revenues
 
 
 
 
 
 
 
 
92,561,000 
75,574,000 
72,827,000 
Net Income
1,593,000 
5,974,000 
4,163,000 
1,910,000 
1,828,000 
3,734,000 
3,470,000 
2,268,000 
13,640,000 
11,300,000 
9,798,000 
Earnings Per Share, Basic
$ 0.16 
$ 0.69 
$ 0.48 
$ 0.22 
$ 0.21 
$ 0.43 
$ 0.41 
$ 0.26 
$ 1.55 
$ 1.31 
$ 1.14 
Earnings Per Share, Diluted
$ 0.16 
$ 0.67 
$ 0.47 
$ 0.22 
$ 210.00 
$ 0.42 
$ 0.40 
$ 0.26 
$ 1.53 
$ 1.29 
$ 1.13 
Maine Water Company Acquisition [Member]
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
 
 
 
 
 
 
 
11,502,000 
84,896,000 
 
Regulated Operating Revenue, Other
 
 
 
 
 
 
 
 
0 
1,490,000 
 
Real Estate Revenue, Net
 
 
 
 
 
 
 
 
0 
0 
 
Sales Revenue, Services, Net
 
 
 
 
 
 
 
 
717,000 
5,382,000 
 
Revenues
 
 
 
 
 
 
 
 
12,219,000 
91,768,000 
 
Net Income
 
 
 
 
 
 
 
 
$ 1,609,000 
$ 13,275,000 
 
Earnings Per Share, Basic
 
 
 
 
 
 
 
 
$ 0.18 
$ 1.54 
 
Earnings Per Share, Diluted
 
 
 
 
 
 
 
 
$ 0.18 
$ 1.52 
 
Aquisitions Maine Water Summary (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
$ 19,489,000 
$ 24,461,000 
$ 21,348,000 
$ 18,540,000 
$ 15,426,000 
$ 20,628,000 
$ 17,359,000 
$ 15,989,000 
$ 83,838,000 
$ 69,402,000 
$ 66,408,000 
Regulated Operating Revenue, Other
 
 
 
 
 
 
 
 
1,487,000 
1,490,000 
1,345,000 
Revenues
 
 
 
 
 
 
 
 
92,561,000 
75,574,000 
72,827,000 
Net Income
1,593,000 
5,974,000 
4,163,000 
1,910,000 
1,828,000 
3,734,000 
3,470,000 
2,268,000 
13,640,000 
11,300,000 
9,798,000 
Earnings Per Share, Basic
$ 0.16 
$ 0.69 
$ 0.48 
$ 0.22 
$ 0.21 
$ 0.43 
$ 0.41 
$ 0.26 
$ 1.55 
$ 1.31 
$ 1.14 
Earnings Per Share, Diluted
$ 0.16 
$ 0.67 
$ 0.47 
$ 0.22 
$ 210.00 
$ 0.42 
$ 0.40 
$ 0.26 
$ 1.53 
$ 1.29 
$ 1.13 
Maine Water Company Acquisition [Member]
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Operating Revenues
 
 
 
 
 
 
 
 
11,502,000 
84,896,000 
 
Regulated Operating Revenue, Other
 
 
 
 
 
 
 
 
0 
1,490,000 
 
Real Estate Revenue, Net
 
 
 
 
 
 
 
 
0 
0 
 
Sales Revenue, Services, Net
 
 
 
 
 
 
 
 
717,000 
5,382,000 
 
Revenues
 
 
 
 
 
 
 
 
12,219,000 
91,768,000 
 
Net Income
 
 
 
 
 
 
 
 
$ 1,609,000 
$ 13,275,000 
 
Earnings Per Share, Basic
 
 
 
 
 
 
 
 
$ 0.18 
$ 1.54 
 
Earnings Per Share, Diluted
 
 
 
 
 
 
 
 
$ 0.18 
$ 1.52 
 
Aquisitions In Text Linking (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2011
Maine Water Company [Member]
Customers
Feb. 3, 2012
Hebron Country Manor [Member]
Business Acquisition [Line Items]
 
 
Business Combination, Consideration Transferred
$ 35.6 
$ 0.1 
Number of customers
16,000 
 
Number of Systems
11 
 
Aquisitions Goodwill Rollforward (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Goodwill [Line Items]
 
 
Goodwill
$ 31,685 
$ 3,608 
Goodwill, Acquired During Period
28,077 
 
Water Activities [Member]
 
 
Goodwill [Line Items]
 
 
Goodwill
31,685 
3,608 
Goodwill, Acquired During Period
28,077 
 
Services and Rentals and Real Estate Combine [Member]
 
 
Goodwill [Line Items]
 
 
Goodwill
0 
0 
Goodwill, Acquired During Period
$ 0 
 
Subsequent Event In Text Tagging (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2011
Maine Water Company [Member]
Customers
Feb. 3, 2012
Hebron Country Manor [Member]
Subsequent Event [Line Items]
 
 
Number of customers
16,000 
 
Business Combination, Consideration Transferred
$ 35.6 
$ 0.1 
Schedule II - Valuation and Qualifying Accounts (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Valuation and Qualifying Accounts Disclosure [Line Items]
 
 
 
 
Valuation Allowances and Reserves, Balance
$ 1,058 
$ 1,088 
$ 1,061 
$ 472 
Valuation Allowances And Reserves, Adjustments to Beginning Balance
 
187 
0 
0 
Valuation Allowances and Reserves, Charged to Cost and Expense
315 
660 
648 
 
Valuation Allowances and Reserves, Deductions
$ 532 
$ 633 
$ 59