The York Water Company (YORW) 10-Q 5 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2015	5-May-15	Jun. 30, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	YORK WATER CO
Entity Central Index Key	108985
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$267,065,786
Entity Common Stock, Shares Outstanding		12,858,271
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15

Balance_Sheets_Unaudited

Balance Sheets (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
ASSETS
UTILITY PLANT, at original cost	$319,397	$316,525
Plant acquisition adjustments	-3,585	-3,522
Accumulated depreciation	-61,288	-59,809
Net utility plant	254,524	253,194
OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $292 in 2015 and $286 in 2014	759	765
CURRENT ASSETS:
Cash and cash equivalents	468	1,488
Restricted cash	2	7
Accounts receivable, net of reserves of $352 in 2015 and $325 in 2014	4,021	3,991
Unbilled revenues	2,280	2,377
Recoverable income taxes	939	957
Materials and supplies inventories, at cost	807	771
Prepaid expenses	910	584
Deferred income taxes	240	1,058
Total current assets	9,667	11,233
OTHER LONG-TERM ASSETS:
Deferred debt expense	2,542	2,573
Notes receivable	260	266
Deferred regulatory assets	32,839	32,614
Other assets	3,711	3,694
Total other long-term assets	39,352	39,147
Total Assets	304,302	304,339
COMMON STOCKHOLDERS' EQUITY:
Common stock, no par value, authorized 46,500,000 shares, issued and outstanding 12,855,704 shares in 2015 and 12,830,521 shares in 2014	78,133	77,556
Retained earnings	27,616	27,007
Total common stockholders' equity	105,749	104,563
PREFERRED STOCK, authorized 500,000 shares, no shares issued	0	0
LONG-TERM DEBT, excluding current portion	84,831	84,842
COMMITMENTS
CURRENT LIABILITIES:
Current portion of long-term debt	43	43
Accounts payable	1,519	1,589
Dividends payable	1,653	1,647
Accrued compensation and benefits	1,207	1,078
Accrued interest	1,127	1,027
Other accrued expenses	597	546
Total current liabilities	6,146	5,930
DEFERRED CREDITS:
Customers' advances for construction	10,696	10,712
Deferred income taxes	46,322	46,024
Deferred employee benefits	11,748	13,727
Other deferred credits	7,734	7,489
Total deferred credits	76,500	77,952
Contributions in aid of construction	31,076	31,052
Total Stockholders' Equity and Liabilities	$304,302	$304,339

Balance_Sheets_Unaudited_Paren

Balance Sheets (Unaudited) (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
OTHER PHYSICAL PROPERTY:
Other physical property, accumulated depreciation	$292	$286
CURRENT ASSETS:
Receivables, reserves	$352	$325
COMMON STOCKHOLDERS' EQUITY:
Common stock, par value (in dollars per share)	$0	$0
Common stock, authorized (in shares)	46,500,000	46,500,000
Common stock, issued (in shares)	12,855,704	12,830,521
Common stock, outstanding (in shares)	12,855,704	12,830,521
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, issued (in shares)	0	0

Statements_of_Income_Unaudited

Statements of Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
OPERATING REVENUES:
Residential	$7,191	$6,793
Commercial and industrial	3,153	2,956
Other	865	822
Operating Revenues	11,209	10,571
OPERATING EXPENSES:
Operation and maintenance	1,963	1,879
Administrative and general	2,241	2,152
Depreciation and amortization	1,549	1,477
Taxes other than income taxes	322	305
Operating Expenses	6,075	5,813
Operating income	5,134	4,758
OTHER INCOME (EXPENSES):
Interest on debt	-1,253	-1,308
Allowance for funds used during construction	55	43
Other income (expenses), net	-172	-114
Other Income (Expenses)	-1,370	-1,379
Income before income taxes	3,764	3,379
Income taxes	1,236	1,268
Net Income	$2,528	$2,111
Basic Earnings Per Share (in dollars per share)	$0.20	$0.16
Cash Dividends Declared Per Share (in dollars per share)	$0.15	$0.14

Statements_of_Common_Stockhold

Statements of Common Stockholders' Equity (Unaudited) (USD $)	Common Stock [Member]	Retained Earnings [Member]	Total
In Thousands, except Share data
Balance at Dec. 31, 2013	$80,545	$22,966	$103,511
Balance (in shares) at Dec. 31, 2013	12,979,281
Net income	0	2,111	2,111
Dividends	0	-1,860	-1,860
Retirement of common stock	-572	0	-572
Retirement of common stock (in shares)	-27,980		-27,980
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	782	0	782
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	38,890
Balance at Mar. 31, 2014	80,755	23,217	103,972
Balance (in shares) at Mar. 31, 2014	12,990,191
Balance at Dec. 31, 2014	77,556	27,007	104,563
Balance (in shares) at Dec. 31, 2014	12,830,521		12,830,521
Net income	0	2,528	2,528
Dividends	0	-1,919	-1,919
Retirement of common stock (in shares)			0
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	577	0	577
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	25,183
Balance at Mar. 31, 2015	$78,133	$27,616	$105,749
Balance (in shares) at Mar. 31, 2015	12,855,704		12,855,704

Statements_of_Cash_Flows_Unaud

Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$2,528	$2,111
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,549	1,477
Increase (decrease) in deferred income taxes	779	-92
Other	55	57
Changes in assets and liabilities:
(Increase) decrease in accounts receivable and unbilled revenues	-16	170
Decrease in recoverable income taxes	18	0
(Increase) decrease in materials and supplies, prepaid expenses, regulatory and other assets	51	-382
Decrease in accounts payable, accrued compensation and benefits, accrued expenses, deferred employee benefits, and other deferred credits	-1,832	-1,585
Increase in accrued interest and taxes	100	431
Net cash provided by operating activities	3,232	2,187
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, including debt portion of allowance for funds used during construction of $31 in 2015 and $24 in 2014	-2,920	-2,007
Acquisitions of water and wastewater systems	0	-271
Decrease in notes receivable	6	12
Net cash used in investing activities	-2,914	-2,266
CASH FLOWS FROM FINANCING ACTIVITIES:
Customers' advances for construction and contributions in aid of construction	126	1
Repayments of customer advances	-117	-90
Proceeds of long-term debt issues	2,226	0
Repayments of long-term debt	-2,237	-11
Repurchase of common stock	0	-572
Issuance of common stock	577	782
Dividends paid	-1,913	-1,857
Net cash used in financing activities	-1,338	-1,747
Net change in cash and cash equivalents	-1,020	-1,826
Cash and cash equivalents at beginning of period	1,488	7,565
Cash and cash equivalents at end of period	468	5,739
Cash paid during the period for:
Interest, net of amounts capitalized	1,123	1,130
Income taxes	$0	$1,043
Supplemental schedule of non-cash investing and financing activities:
Accounts payable includes $605 in 2015 and $777 in 2014 for the construction of utility plant.

Statements_of_Cash_Flows_Unaud1

Statements of Cash Flows (Unaudited) (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, debt portion of allowance for funds used during construction	$31	$24
Supplemental schedule of non-cash investing and financing activities:
Accounts payable, construction of utility plant	$605	$777

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Basis of Presentation [Abstract]
Basis of Presentation	1	Basis of Presentation
	The interim financial statements are unaudited but, in the opinion of management, reflect all adjustments, consisting of only normal recurring accruals, necessary for a fair presentation of results for such periods.  Because the financial statements cover an interim period, they do not include all disclosures and notes normally provided in annual financial statements, and therefore, should be read in conjunction with the financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2014.
	Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.

Common_Stock_and_Basic_Earning

Common Stock and Basic Earnings Per Share	3 Months Ended
	Mar. 31, 2015
Common Stock and Basic Earnings Per Share [Abstract]
Common Stock and Basic Earnings Per Share	2	Common Stock and Basic Earnings Per Share
	Basic earnings per share for the three months ended March 31, 2015 and 2014 were based on weighted average shares outstanding of 12,836,368 and 12,991,478, respectively.
	Since the Company has no common stock equivalents outstanding, there are no diluted earnings per share.
	On March 11, 2013, the Board of Directors authorized a share repurchase program granting the Company authority to repurchase up to 1,200,000 shares of the Company's common stock from time to time.  Under the stock repurchase program, the Company may repurchase shares in the open market or through privately negotiated transactions.  The Company may suspend or discontinue the repurchase program at any time.  During the three months ended March 31, 2015 and 2014, the Company repurchased and retired 0 and 27,980 shares, respectively.  As of March 31, 2015, 823,016 shares remain available for repurchase.

Pensions

Pensions	3 Months Ended
	Mar. 31, 2015
Pensions [Abstract]
Pensions	3	Pensions
	Components of Net Periodic Pension Cost
			Three Months
			Ended March 31
			2015			2014
	Service cost		$	291		$	238
	Interest cost			379			361
	Expected return on plan assets			(557	)		(497	)
	Amortization of actuarial loss			176			31
	Amortization of prior service cost			(3	)		(3	)
	Rate-regulated adjustment			289			327
	Net periodic pension expense		$	575		$	457
	Employer Contributions
	The Company previously disclosed in its financial statements for the year ended December 31, 2014 that it expected to contribute $2,300 to its pension plans in 2015.  As of March 31, 2015, contributions of $2,300 had been made.  At this time, the Company does not expect to contribute any additional amount during the remainder of 2015.

Interest_Rate_Swap_Agreement

Interest Rate Swap Agreement	3 Months Ended
	Mar. 31, 2015
Interest Rate Swap Agreement [Abstract]
Interest Rate Swap Agreement	4	Interest Rate Swap Agreement
	The Company is exposed to certain risks relating to its ongoing business operations.  The primary risk managed by using derivative instruments is interest rate risk.  The Company utilizes an interest rate swap agreement to effectively convert the Company's $12,000 variable-rate debt issue to a fixed rate.  Interest rate swaps are contracts in which a series of interest rate cash flows are exchanged over a prescribed period.  The notional amount on which the interest payments are based ($12,000) is not exchanged.  The interest rate swap provides that the Company pays the counterparty a fixed interest rate of 3.16% on the notional amount of $12,000.  In exchange, the counterparty pays the Company a variable interest rate based on 59% of LIBOR on the notional amount.  The intent is for the variable rate received from the swap counterparty to approximate the variable rate the Company pays to bondholders on its variable rate debt issue, resulting in a fixed rate being paid to the swap counterparty and reducing the Company's interest rate risk.  The Company's net payment rate on the swap was 2.98% and 2.99% during the three months ended March 31, 2015 and 2014, respectively.
	The interest rate swap agreement is classified as a financial derivative used for non-trading activities.  The accounting standards regarding accounting for derivatives and hedging activities require companies to recognize all derivative instruments as either assets or liabilities at fair value on the balance sheet.  In accordance with the standards, the interest rate swap is recorded on the balance sheet in other deferred credits at fair value (see Note 5).
	The Company uses regulatory accounting treatment rather than hedge accounting to defer the unrealized gains and losses on its interest rate swap.  Instead of the effective portion being recorded as other comprehensive income and the ineffective portion being recognized in earnings using the cash flow hedge accounting rules provided by the derivative accounting standards, the entire unrealized swap value is recorded as a regulatory asset.  Based on current ratemaking treatment, the Company expects the unrealized gains and losses to be recognized in rates as a component of interest expense as the swap settlements occur.  Swap settlements are recorded in the income statement with the hedged item as interest expense.  During the three months ended March 31, 2015, $91 was reclassified from regulatory assets to interest expense as a result of swap settlements.  The overall swap result was a loss of $343 and $385 for the three months ended March 31, 2015 and 2014, respectively.  The Company expects to reclassify $354 from regulatory assets to interest expense as a result of swap settlements over the next 12 months.
	The interest rate swap agreement contains provisions that require the Company to maintain a credit rating of at least BBB- with Standard & Poor's.  If the Company's rating were to fall below this rating, it would be in violation of these provisions, and the counterparty to the derivative could request immediate payment if the derivative was in a liability position.  On March 20, 2015, Standard & Poor's affirmed the Company's credit rating at A-, with a stable outlook and adequate liquidity.  The Company's interest rate swap was in a liability position as of March 31, 2015.  If a violation due to credit rating, or some other default provision, were triggered on March 31, 2015, the Company would have been required to pay the counterparty approximately $2,934.
	The interest rate swap will expire on October 1, 2029.  Other than the interest rate swap, the Company has no other derivative instruments.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	5	Fair Value Measurements
	The accounting standards regarding fair value measurements establish a fair value hierarchy which indicates the extent to which inputs used in measuring fair value are observable in the market.  Level 1 inputs include quoted prices for identical instruments and are the most observable.  Level 2 inputs include quoted prices for similar assets and observable inputs such as interest rates, commodity rates and yield curves.  Level 3 inputs are not observable in the market and include management's own judgments about the assumptions market participants would use in pricing the asset or liability.
	The Company has recorded its interest rate swap liability at fair value in accordance with the standards.  The liability is recorded under the caption "Other deferred credits" on the balance sheet.  The table below illustrates the fair value of the interest rate swap as of the end of the reporting period.
	Description	31-Mar-15	Fair Value Measurements
			at Reporting Date Using
			Significant Other Observable Inputs (Level 2)
	Interest Rate Swap	$2,844	$2,844
	Fair values are measured as the present value of all expected future cash flows based on the LIBOR-based swap yield curve as of the date of the valuation.  These inputs to this calculation are deemed to be Level 2 inputs.  The balance sheet carrying value reflects the Company's credit quality as of March 31, 2015.  The rate used in discounting all prospective cash flows anticipated to be made under this swap reflects a representation of the yield to maturity for 30-year debt on utilities rated A- as of March 31, 2015.  The use of the Company's credit rating resulted in a reduction in the fair value of the swap liability of $90 as of March 31, 2015.  The fair value of the swap reflecting the Company's credit quality as of December 31, 2014 is shown in the table below.
	Description	31-Dec-14	Fair Value Measurements
			at Reporting Date Using
			Significant Other Observable Inputs (Level 2)
	Interest Rate Swap	$2,592	$2,592
	The carrying amount of current assets and liabilities that are considered financial instruments approximates fair value as of the dates presented.  The Company's long-term debt (including current maturities), with a carrying value of $84,874 at March 31, 2015, and $84,885 at December 31, 2014, had an estimated fair value of approximately $100,000 as of each of the dates presented.  The estimated fair value of debt was calculated using a discounted cash flow technique that incorporates a market interest yield curve with adjustments for duration and risk profile.  These inputs to this calculation are deemed to be Level 2 inputs.  The Company recognized its credit rating in determining the yield curve, and did not factor in third party credit enhancements including bond insurance on the 2004 Pennsylvania Economic Development Financing Authority, or PEDFA, Series A and 2006 Industrial Development Authority issues, and the letter of credit on the 2008 PEDFA Series A issue.
	Customers' advances for construction and notes receivable have carrying values at March 31, 2015 of $10,696 and $260, respectively.  At December 31, 2014, customers' advances for construction and notes receivable had carrying values of $10,712 and $266, respectively.  The relative fair values of these amounts cannot be accurately estimated since the timing of future payment streams is dependent upon several factors, including new customer connections, customer consumption levels and future rate increases.
	6	Debt

Debt

Debt	3 Months Ended
	Mar. 31, 2015
Debt [Abstract]
Debt
		As of			As of
		Mar. 31, 2015			Dec. 31, 2014
	4.05% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds, Series A of 2004, due 2016	$	2,350		$	2,350
	5.00% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds, Series A of 2004, due 2016		4,950			4,950
	10.17% Senior Notes, Series A, due 2019		6,000			6,000
	9.60% Senior Notes, Series B, due 2019		5,000			5,000
	1.00% Pennvest Note, due 2019		194			205
	10.05% Senior Notes, Series C, due 2020		6,500			6,500
	8.43% Senior Notes, Series D, due 2022		7,500			7,500
	Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029		12,000			12,000
	4.75% Industrial Development Authority Revenue Bonds, Series 2006, due 2036		10,500			10,500
	4.50% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2014, due 2038		14,880			14,880
	5.00% Monthly Senior Notes, Series 2010A, due 2040		15,000			15,000
	Total long-term debt		84,874			84,885
	Less current maturities		(43	)		(43	)
	Long-term portion	$	84,831		$	84,842
	The PEDFA Series 2004A bonds are subject to optional redemption provisions that allow the Company to redeem all or a portion of the bonds on or after April 1, 2014.  The Company expects to refinance these bonds to take advantage of continued low interest rates in 2015.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	7	Income Taxes
	In anticipation of filing for a change in accounting method under the Internal Revenue Service tangible property regulations when the 2014 income tax return is filed, the Company began adjusting its income tax provision for the effects of this change during the fourth quarter of 2014.  Under the change in accounting method, the Company is permitted to deduct the costs of certain asset improvements that were previously being capitalized and depreciated for tax purposes as an expense on its income tax return.  This ongoing deduction results in a reduction in the effective income tax rate, a net reduction in income tax expense, and a reduction in the amount of income taxes currently payable.  It also results in increases to deferred tax liabilities and regulatory assets representing the appropriate book and tax basis difference on capital additions.  As a result, the Company's effective tax rate was 32.8% for the first quarter of 2015 and 37.5% the first quarter of 2014.  The benefit for the full year of 2014 was recorded in the fourth quarter.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2015
Acquisitions [Abstract]
Acquisitions	8	Acquisitions
	On November 20, 2014, the Company completed the acquisition of the water assets of Lincoln Estates Mobile Home Park in Adams County, Pennsylvania.  The Company began operating the existing system as a satellite location on November 24, 2014.  The acquisition resulted in the addition of approximately 200 new water customers with purchase price and acquisition costs of approximately $70, which is less than depreciated original cost of the assets.  In 2015, the Company recorded a negative acquisition adjustment of approximately $77 and will seek approval from the Pennsylvania Public Utility Company, or PPUC, to amortize the negative acquisition adjustment over the remaining life of the acquired assets.
	The result of this acquisition has been immaterial to total Company results.

Rate_Matters

Rate Matters	3 Months Ended
	Mar. 31, 2015
Rate Matters [Abstract]
Rate Matters	9	Rate Matters
	From time to time, the Company files applications for rate increases with the PPUC and is granted rate relief as a result of such requests.  The most recent rate request was filed by the Company on May 29, 2013 and sought an increase in rates designed to produce additional annual water revenues of $7,116 and additional annual wastewater revenues of $28.  Effective February 28, 2014, the PPUC authorized an increase in water rates designed to produce approximately $4,972 in additional annual revenues, and an increase in wastewater rates for the Asbury Pointe subdivision to produce approximately $28 in additional annual revenues.
	The PPUC permits water utilities to collect a distribution system improvement charge (DSIC).  The DSIC allows the Company to add a charge to customers' bills for qualified replacement costs of certain infrastructure without submitting a rate filing.  This surcharge mechanism typically adjusts periodically based on additional qualified capital expenditures completed or anticipated in a future period.  The DSIC is capped at 5% of base rates, and is reset to zero when new base rates that reflect the costs of those additions become effective or when a utility's earnings exceed a regulatory benchmark. The surcharge reset to zero when the new base rates took effect on February 28, 2014.  The DSIC provided revenues of $0 for the three months ended March 31, 2015 and $283 during the three months ended March 31, 2014.

Impact_of_Recent_Accounting_Pr

Impact of Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
Impact of Recent Accounting Pronouncements [Abstract]
Impact of Recent Accounting Pronouncements		10	Impact of Recent Accounting Pronouncements
	In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs.  This ASU clarifies the required presentation of debt issuance costs.  The standard requires that debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the recognized debt liability, consistent with the treatment of debt discounts.  Amortization of debt issuance costs is to be reported as interest expense.  The recognition and measurement guidance for debt issuance costs are not affected by the standard.  This ASU is effective for fiscal years beginning after December 15, 2015.  Early adoption is permitted.  The Company does not expect the adoption of this standard to have any impact on its results of operations or cash flows, but will result in debt issuance costs being presented as a direct reduction from the carrying amount of debt liabilities on the balance sheet.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers.  This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605—Revenue Recognition and most industry-specific guidance throughout the Codification.  The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.  This ASU is effective for fiscal years beginning after December 15, 2016, and for interim periods within those fiscal years.  The FASB has proposed delaying this standard by one year.  If the proposal is approved, early adoption would be permitted as of the original effective date.  The standard permits the use of either a retrospective or cumulative effect transition method.  The Company has not yet selected a transition method and is in the process of assessing the impact of the adoption of the standard on its financial position, results of operations and cash flows.

Impact_of_Recent_Accounting_Pr1

Impact of Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2015
Impact of Recent Accounting Pronouncements [Abstract]
New Accounting Pronouncements	In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Simplifying the Presentation of Debt Issuance Costs.  This ASU clarifies the required presentation of debt issuance costs.  The standard requires that debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the recognized debt liability, consistent with the treatment of debt discounts.  Amortization of debt issuance costs is to be reported as interest expense.  The recognition and measurement guidance for debt issuance costs are not affected by the standard.  This ASU is effective for fiscal years beginning after December 15, 2015.  Early adoption is permitted.  The Company does not expect the adoption of this standard to have any impact on its results of operations or cash flows, but will result in debt issuance costs being presented as a direct reduction from the carrying amount of debt liabilities on the balance sheet.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers.  This ASU supersedes the revenue recognition requirements in Accounting Standards Codification 605—Revenue Recognition and most industry-specific guidance throughout the Codification.  The standard requires that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.  This ASU is effective for fiscal years beginning after December 15, 2016, and for interim periods within those fiscal years.  The FASB has proposed delaying this standard by one year.  If the proposal is approved, early adoption would be permitted as of the original effective date.  The standard permits the use of either a retrospective or cumulative effect transition method.  The Company has not yet selected a transition method and is in the process of assessing the impact of the adoption of the standard on its financial position, results of operations and cash flows.

Pensions_Tables

Pensions (Tables)	3 Months Ended
	Mar. 31, 2015
Pensions [Abstract]
Components of Net Periodic Pension Cost	Components of Net Periodic Pension Cost
		Three Months
		Ended March 31
		2015			2014
	Service cost	$	291		$	238
	Interest cost		379			361
	Expected return on plan assets		(557	)		(497	)
	Amortization of actuarial loss		176			31
	Amortization of prior service cost		(3	)		(3	)
	Rate-regulated adjustment		289			327
	Net periodic pension expense	$	575		$	457

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value of Interest Rate Swap	The Company has recorded its interest rate swap liability at fair value in accordance with the standards.  The liability is recorded under the caption "Other deferred credits" on the balance sheet.  The table below illustrates the fair value of the interest rate swap as of the end of the reporting period.
	Description	31-Mar-15	Fair Value Measurements
			at Reporting Date Using
			Significant Other Observable Inputs (Level 2)
	Interest Rate Swap	$2,844	$2,844
	Fair values are measured as the present value of all expected future cash flows based on the LIBOR-based swap yield curve as of the date of the valuation.  These inputs to this calculation are deemed to be Level 2 inputs.  The balance sheet carrying value reflects the Company's credit quality as of March 31, 2015.  The rate used in discounting all prospective cash flows anticipated to be made under this swap reflects a representation of the yield to maturity for 30-year debt on utilities rated A- as of March 31, 2015.  The use of the Company's credit rating resulted in a reduction in the fair value of the swap liability of $90 as of March 31, 2015.  The fair value of the swap reflecting the Company's credit quality as of December 31, 2014 is shown in the table below.
	Description	31-Dec-14	Fair Value Measurements
			at Reporting Date Using
			Significant Other Observable Inputs (Level 2)
	Interest Rate Swap	$2,592	$2,592

Debt_Tables

Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Debt [Abstract]
Debt
		As of			As of
		Mar. 31, 2015			Dec. 31, 2014
	4.05% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds, Series A of 2004, due 2016	$	2,350		$	2,350
	5.00% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds, Series A of 2004, due 2016		4,950			4,950
	10.17% Senior Notes, Series A, due 2019		6,000			6,000
	9.60% Senior Notes, Series B, due 2019		5,000			5,000
	1.00% Pennvest Note, due 2019		194			205
	10.05% Senior Notes, Series C, due 2020		6,500			6,500
	8.43% Senior Notes, Series D, due 2022		7,500			7,500
	Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029		12,000			12,000
	4.75% Industrial Development Authority Revenue Bonds, Series 2006, due 2036		10,500			10,500
	4.50% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2014, due 2038		14,880			14,880
	5.00% Monthly Senior Notes, Series 2010A, due 2040		15,000			15,000
	Total long-term debt		84,874			84,885
	Less current maturities		(43	)		(43	)
	Long-term portion	$	84,831		$	84,842

Common_Stock_and_Basic_Earning1

Common Stock and Basic Earnings Per Share (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Common Stock and Basic Earnings Per Share [Abstract]
Weighted average number of shares outstanding (in shares)	12,836,368	12,991,478
Common stock equivalents outstanding (in shares)	0
Diluted earnings per share (in dollars per share)	$0
Number of shares authorized to be repurchased under the stock repurchase program (in shares)	1,200,000
Number of remaining shares authorized to be repurchased under the stock repurchase program (in shares)	823,016
Number of shares repurchased and retired under the stock repurchase program (in shares)	0	27,980

Pensions_Details

Pensions (Details) (Pension Plans [Member], USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Pension Plans [Member]
Net Periodic Pension Cost [Abstract]
Service cost	$291	$238
Interest cost	379	361
Expected return on plan assets	-557	-497
Amortization of actuarial loss	176	31
Amortization of prior service cost	-3	-3
Rate-regulated adjustment	289	327
Net periodic pension expense	575	457
Employer Contributions [Abstract]
Estimated employer contributions in 2015			2,300
Contributions made by employer	$2,300

Interest_Rate_Swap_Agreement_D

Interest Rate Swap Agreement (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Interest Rate Swap Agreement [Abstract]
Long-term debt	$84,874		$84,885
Interest Rate Swap [Member]
Interest Rate Swap Agreement [Abstract]
Notional amount of swap	12,000
Fixed interest rate (in hundredths)	3.16%
Net payment rate on swaps (in hundredths)	2.98%	2.99%
Interest rate swap settlements reclassified to interest expense	91
Interest rate swap gain (loss) capitalized	-343	-385
Interest rate swap settlements to be reclassified during the next 12 months	354
Potential payment to counterparty	2,934
Maturity date of swap	1-Oct-29
LIBOR [Member] | Interest Rate Swap [Member]
Interest Rate Swap Agreement [Abstract]
Percentage of variable interest rate (in hundredths)	59.00%
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 [Member]
Interest Rate Swap Agreement [Abstract]
Long-term debt	$12,000		$12,000

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Interest Rate Swap [Abstract]
Term of debt on utilities rated A- used to discount prospective cash flows	30 years
Reduction in fair value of swap liability	$90
Fair Value Estimate Not Practicable, Financial Liabilities [Abstract]
Customer advances for construction	10,696	10,712
Fair Value Estimate Not Practicable, Financial Assets [Abstract]
Notes receivable	260	266
Fair Value, Estimate Not Practicable, Carrying Amount [Member]
Fair Value Estimate Not Practicable, Financial Liabilities [Abstract]
Customer advances for construction	10,696	10,712
Fair Value Estimate Not Practicable, Financial Assets [Abstract]
Notes receivable	260	266
Carrying Amount [Member]
Fair Value, Financial Liabilities [Abstract]
Long-term debt (including current maturities)	84,874	84,885
Estimate of Fair Value [Member]
Fair Value, Financial Liabilities [Abstract]
Long-term debt (including current maturities)	100,000	100,000
Fair Value on a Recurring Basis [Member]
Interest Rate Swap [Abstract]
Interest rate swap	2,844	2,592
Fair Value on a Recurring Basis [Member] | Fair Value Measurements Using Significant Other Observable Inputs (Level 2) [Member]
Interest Rate Swap [Abstract]
Interest rate swap	$2,844	$2,592

Debt_Details

Debt (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Debt [Abstract]
Total long-term debt	$84,874	$84,885
Less current maturities	-43	-43
Long-term portion	84,831	84,842
4.05% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds, Series A of 2004, due 2016 [Member]
Debt [Abstract]
Total long-term debt	2,350	2,350
Interest rate (in hundredths)	4.05%
5.00% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Bonds, Series A of 2004, due 2016 [Member]
Debt [Abstract]
Total long-term debt	4,950	4,950
Interest rate (in hundredths)	5.00%
10.17% Senior Notes, Series A, due 2019 [Member]
Debt [Abstract]
Total long-term debt	6,000	6,000
Interest rate (in hundredths)	10.17%
9.60% Senior Notes, Series B, due 2019 [Member]
Debt [Abstract]
Total long-term debt	5,000	5,000
Interest rate (in hundredths)	9.60%
1.00% Pennvest Note, due 2019 [Member]
Debt [Abstract]
Total long-term debt	194	205
Interest rate (in hundredths)	1.00%
10.05% Senior Notes, Series C, due 2020 [Member]
Debt [Abstract]
Total long-term debt	6,500	6,500
Interest rate (in hundredths)	10.05%
8.43% Senior Notes, Series D, due 2022 [Member]
Debt [Abstract]
Total long-term debt	7,500	7,500
Interest rate (in hundredths)	8.43%
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 [Member]
Debt [Abstract]
Total long-term debt	12,000	12,000
4.75% Industrial Development Authority Revenue Bonds, series 2006, due 2036 [Member]
Debt [Abstract]
Total long-term debt	10,500	10,500
Interest rate (in hundredths)	4.75%
4.50% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2014, due 2038 [Member]
Debt [Abstract]
Total long-term debt	14,880	14,880
Interest rate (in hundredths)	4.50%
5.00% Monthly Senior Notes, Series 2010A, due 2040 [Member]
Debt [Abstract]
Total long-term debt	$15,000	$15,000
Interest rate (in hundredths)	5.00%

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Taxes [Abstract]
Effective tax rate (in hundredths)	32.80%	37.50%

Acquisitions_Details

Acquisitions (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Acquisitions [Abstract]
Purchase price	$0	$271
Water Assets of Lincoln Estates Mobile Home Park [Member]
Acquisitions [Abstract]
Date of agreement	20-Nov-14
Effective date of acquisition	24-Nov-14
Number of customers acquired	200
Purchase price	70
Acquisition adjustment	$77

Rate_Matters_Details

Rate Matters (Details) (PPUC [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Rate Request Filed on March 29, 2013 [Member] | Water [Member]
Rate Matters [Abstract]
Requested dollar increase in annual revenue	$7,116
Authorized dollar increase in annual revenue	4,972
Rate Request Filed on March 29, 2013 [Member] | Wastewater [Member]
Rate Matters [Abstract]
Requested dollar increase in annual revenue	28
Authorized dollar increase in annual revenue	28
DSIC [Member]
Rate Matters [Abstract]
Distribution system improvement charge revenue	$0	$283
DSIC [Member] | Maximum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate (in hundredths)	5.00%
DSIC [Member] | Minimum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate (in hundredths)	0.00%