The York Water Company (YORW) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 08, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	YORK WATER CO
Entity Central Index Key	108,985
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 Common Stock, Shares Outstanding		12,894,632
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
UTILITY PLANT, at original cost	$ 369,022	$ 365,767
Plant acquisition adjustments	(3,219)	(3,234)
Accumulated depreciation	(75,296)	(73,746)
Net utility plant	290,507	288,787
OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $393 in 2018 and $387 in 2017	731	737
CURRENT ASSETS:
Cash and cash equivalents	2	2
Accounts receivable, net of reserves of $332 in 2018 and $305 in 2017	4,183	4,547
Unbilled revenues	2,344	2,459
Materials and supplies inventories, at cost	868	906
Prepaid expenses	957	697
Total current assets	8,354	8,611
OTHER LONG-TERM ASSETS:
Notes receivable	255	255
Deferred regulatory assets	29,848	30,331
Other assets	3,407	3,309
Total other long-term assets	33,510	33,895
Total Assets	333,102	332,030
COMMON STOCKHOLDERS' EQUITY:
Common stock, no par value, authorized 46,500,000, issued and outstanding 12,892,798 in 2018 and 12,872,742 in 2017	79,796	79,201
Retained earnings	40,652	40,204
Total common stockholders' equity	120,448	119,405
PREFERRED STOCK, authorized 500,000 shares, no shares issued	0	0
LONG-TERM DEBT, excluding current portion	77,993	90,098
COMMITMENTS
CURRENT LIABILITIES:
Short-term borrowings	1,000	1,000
Current portion of long-term debt	11,044	44
Accounts payable	3,222	3,136
Dividends payable	1,897	1,892
Accrued compensation and benefits	1,107	1,134
Accrued income taxes	938	531
Accrued interest	1,109	989
Other accrued expenses	514	419
Total current liabilities	20,831	9,145
DEFERRED CREDITS:
Customers' advances for construction	6,461	6,324
Deferred income taxes	35,143	34,754
Deferred employee benefits	6,575	7,075
Deferred regulatory liabilities	24,944	24,372
Other deferred credits	1,872	2,196
Total deferred credits	74,995	74,721
Contributions in aid of construction	38,835	38,661
Total Stockholders' Equity and Liabilities	$ 333,102	$ 332,030

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Other physical property, accumulated depreciation	$ 393	$ 387
CURRENT ASSETS:
Accounts receivables, reserves	$ 332	$ 305
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)	12,892,798	12,872,742
Common stock, outstanding (in shares)	12,892,798	12,872,742
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 ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statements of Income [Abstract]
OPERATING REVENUES	$ 11,644	$ 11,290
OPERATING EXPENSES:
Operation and maintenance	2,354	2,026
Administrative and general	1,995	2,088
Depreciation and amortization	1,841	1,681
Taxes other than income taxes	314	333
Operating expenses	6,504	6,128
Operating income	5,140	5,162
OTHER INCOME (EXPENSES):
Interest on debt	(1,364)	(1,316)
Allowance for funds used during construction	92	123
Other pension costs	(321)	(305)
Other income (expenses), net	(82)	(126)
Other income (expenses)	(1,675)	(1,624)
Income before income taxes	3,465	3,538
Income taxes	871	957
Net Income	$ 2,594	$ 2,581
Basic Earnings Per Share (in dollars per share)	$ 0.20	$ 0.20
Diluted Earnings Per Share (in dollars per share)	0.20	0.20
Cash Dividends Declared Per Share (in dollars per share)	$ 0.1666	$ 0.1602

Statements of Common Stockholde

Statements of Common Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2016	$ 78,513	$ 35,548	$ 0	$ 114,061
Balance (in shares) at Dec. 31, 2016	12,852,295
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	2,581	0	2,581
Dividends	$ 0	(2,060)	0	$ (2,060)
Repurchase of common stock (in shares)	(24,329)			(24,329)
Repurchase of common stock	$ 0	0	(825)	$ (825)
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 522	0	0	522
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	15,084
Stock-based compensation	$ 2	0	0	2
Stock-based compensation (in shares)	0
Balance at Mar. 31, 2017	$ 79,037	36,069	(825)	114,281
Balance (in shares) at Mar. 31, 2017	12,843,050
Balance at Dec. 31, 2017	$ 79,201	40,204	0	$ 119,405
Balance (in shares) at Dec. 31, 2017	12,872,742			12,872,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	2,594	0	$ 2,594
Dividends	0	(2,146)	0	$ (2,146)
Repurchase of common stock (in shares)				0
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 591	0	0	$ 591
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	20,056
Stock-based compensation	$ 4	0	0	4
Stock-based compensation (in shares)	0
Balance at Mar. 31, 2018	$ 79,796	$ 40,652	$ 0	$ 120,448
Balance (in shares) at Mar. 31, 2018	12,892,798			12,892,798

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,594	$ 2,581
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,841	1,681
Stock-based compensation	4	2
Increase in deferred income taxes	136	667
Other	71	58
Changes in assets and liabilities:
Decrease in accounts receivable and unbilled revenues	403	449
Increase in recoverable income taxes	0	(198)
Increase in materials and supplies, prepaid expenses, regulatory and other assets	(1,238)	(1,744)
Increase in accounts payable, accrued compensation and benefits, accrued expenses, deferred employee benefits, regulatory liabilities, and other deferred credits	1,100	1,273
Increase in accrued interest and taxes	527	183
Net cash provided by operating activities	5,438	4,952
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, including debt portion of allowance for funds used during construction of $51 in 2018 and $69 in 2017	(3,026)	(6,413)
Acquisitions of water and wastewater systems	0	(511)
Cash received from surrender of life insurance policies	108	0
Net cash used in investing activities	(2,918)	(6,924)
CASH FLOWS FROM FINANCING ACTIVITIES:
Customers' advances for construction and contributions in aid of construction	423	144
Repayments of customer advances	(112)	(43)
Proceeds of long-term debt issues	5,072	0
Repayments of long-term debt	(6,213)	(11)
Changes in cash overdraft position	(140)	472
Repurchase of common stock	0	(825)
Issuance of common stock	591	522
Dividends paid	(2,141)	(2,056)
Net cash used in financing activities	(2,520)	(1,797)
Net change in cash and cash equivalents	0	(3,769)
Cash and cash equivalents at beginning of period	2	4,209
Cash and cash equivalents at end of period	2	440
Cash paid during the period for:
Interest, net of amounts capitalized	1,159	1,030
Income taxes	$ 0	$ 0
Supplemental disclosure of non-cash investing and financing activities:
Accounts payable includes $1,557 in 2018 and $1,462 in 2017 for the construction of utility plant.

Statements of Cash Flows (Unau7

Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, debt portion of allowance for funds used during construction	$ 51	$ 69
Supplemental disclosure of non-cash investing and financing activities:
Accounts payable, construction of utility plant	$ 1,557	$ 1,462

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
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, 2017. Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.

Reclassifications

Reclassifications	3 Months Ended
	Mar. 31, 2018
Reclassifications [Abstract]
Reclassifications	2. Reclassifications Certain 2017 amounts have been reclassified to conform to the 2018 presentation. Such reclassifications had no effect on the balance sheets, net income, the statements of common stockholders' equity, or the statements of cash flows.

Accounts Receivable and Contrac

Accounts Receivable and Contract Assets	3 Months Ended
	Mar. 31, 2018
Accounts Receivable and Contract Assets [Abstract]
Accounts Receivable and Contract Assets	3. Accounts Receivable and Contract Assets Accounts receivable and contract assets are summarized in the following table: As of Mar. 31, 2018 As of Dec. 31, 2017 Change Accounts receivable – customers $ 4,346 $ 4,661 $ (315 ) Other receivables 169 191 (22 ) 4,515 4,852 (337 ) Less: allowance for doubtful accounts (332 ) (305 ) (27 ) Accounts receivable, net $ 4,183 $ 4,547 $ (364 ) Unbilled revenue $ 2,344 $ 2,459 $ (115 ) Differences in timing of revenue recognition, billings, and cash collections result in receivables and contract assets. Generally, billing occurs subsequent to revenue recognition, resulting in a contract asset reported as unbilled revenue on the balance sheet. The Company does not receive advances or deposits from customers before revenue is recognized so no contract liabilities are reported. Accounts receivable are recorded when the right to consideration becomes unconditional and are presented separately on the balance sheet. The changes in accounts receivable – customers and in unbilled revenue were primarily due to normal timing difference between performance and the customer's payments.

Common Stock and Earnings Per S

Common Stock and Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Common Stock and Earnings Per Share [Abstract]
Common Stock and Earnings Per Share	4. Common Stock and Earnings Per Share Net income of $2,594 and $2,581 for the three months ended March 31, 2018 and 2017, respectively, is used to calculate both basic and diluted earnings per share. Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding plus potentially dilutive shares. The dilutive effect of employee stock-based compensation is included in the computation of diluted earnings per share and is calculated using the treasury stock method and expected proceeds upon exercise or issuance of the stock-based compensation. The following table summarizes the shares used in computing basic and diluted earnings per share: Three Months Ended March 31 2018 2017 Weighted average common shares, basic 12,876,514 12,851,505 Effect of dilutive securities: Employee stock-based compensation 110 18 Weighted average common shares, diluted 12,876,624 12,851,523 On March 11, 2013, the Board of Directors, or the Board, 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. The stock repurchase program has no specific end date and 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. No shares were repurchased during the three months ended March 31, 2018. During the three months ended March 31, 2017, the Company repurchased 24,329 shares. As of March 31, 2018, 618,004 shares remain authorized for repurchase.

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Debt	5. Debt For the three months ended March 31, 2018, the Company did not enter into any new long-term debt arrangements or modify its outstanding long-term debt, summarized in the table below. As of Mar. 31, 2018 As of Dec. 31, 2017 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 63 74 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% York County 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 14,870 14,870 5.00% Monthly Senior Notes, Series 2010A, due 2040 15,000 15,000 4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 10,000 10,000 Committed Line of Credit, due 2019 4,259 5,389 Total long-term debt 91,692 92,833 Less discount on issuance of long-term debt (212 ) (215 ) Less unamortized debt issuance costs (2,443 ) (2,476 ) Less current maturities (11,044 ) (44 ) Long-term portion $ 77,993 $ 90,098

Interest Rate Swap Agreement

Interest Rate Swap Agreement	3 Months Ended
	Mar. 31, 2018
Interest Rate Swap Agreement [Abstract]
Interest Rate Swap Agreement	6. 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 the U.S. Dollar one-month LIBOR rate 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 2.18% and 2.64% during the three months ended March 31, 2018 and 2017, 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 7). 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 or loss 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. Swap settlements resulted in the reclassification from regulatory assets to interest expense of $65 and $79 during the three months ended March 31, 2018 and 2017, respectively. The overall swap result was a (gain)loss of $(257) and $9 for the three months ended March 31, 2018 and 2017, respectively. The Company expects to reclassify $225 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 February 9, 2018 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, 2018. If a violation due to credit rating, or some other default provision, were triggered on March 31, 2018, the Company would have been required to pay the counterparty approximately $1,907. The interest rate swap will expire on October 1, 2029

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Measurements [Abstract]
Fair Value Measurements	7. 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 March 31, 2018 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $1,872 $1,872 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, 2018. 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, 2018. The use of the Company's credit rating resulted in a reduction in the fair value of the swap liability of $35 as of March 31, 2018. The fair value of the swap reflecting the Company's credit quality as of December 31, 2017 is shown in the table below. Description December 31, 2017 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $2,196 $2,196 The carrying amount of current assets and liabilities that are considered financial instruments approximates fair value as of the dates presented. The Company's total long-term debt, with a carrying value of $91,692 at March 31, 2018, and $92,833 at December 31, 2017, had an estimated fair value of approximately $102,000 and $108,000, respectively. 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 2006 York County Industrial Development Authority issue and the letter of credit on the 2008 Pennsylvania Economic Development Financing Authority Series A issue. Customers' advances for construction and note receivable have carrying values at March 31, 2018 of $6,461 and $255, respectively. At December 31, 2017, customers' advances for construction and note receivable had carrying values of $6,324 and $255, 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.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2018
Commitments [Abstract]
Commitments	8. Commitments The Company entered into a consent order agreement with the Pennsylvania Department of Environmental Protection in December 2016 after the Company determined it exceeded the action level for lead as established by the Lead and Copper Rule, or LCR, issued by the U.S. Environmental Protection Agency. Under the agreement, the Company committed to exceed the LCR replacement schedule by replacing all of the remaining known company-owned lead service lines within four years from the agreement. The cost for these service line replacements was approximately $1,681 through March 31, 2018 and is included in utility plant. Additional costs of approximately $310 are expected until the replacements are complete, and have been integrated into the Company's annual capital budgets. Due to its exceedance in 2016, the Company was required under the LCR to complete two rounds of compliance testing at the customer's tap in 2017. The water samples did not exceed the action level either time. As a result, the Company is able to reduce its monitoring to annual beginning in 2018. In addition, the Company is performing in excess of the required actions under the LCR. Specifically, the Company is providing the affected customers with a free water test and a 200 gallon per month credit to flush their line in order to reduce any lead content until their lead service line has been replaced. The cost of the water tests and flushing credits was $2 and $7 for the three months ended March 31, 2018 and 2017, respectively. Additional amounts for water tests and flushing credits are not expected to have a material impact on the financial position of the Company. The Company was granted approval by the Pennsylvania Public Utility Commission, or PPUC, to modify its tariff to include the cost of the replacement of lead customer-owned service lines that are discovered when the Company replaces its lead service lines and to include the cost of the annual replacement of up to 400 lead customer-owned service lines whenever they are discovered, regardless of the material used for the company-owned service line over nine years from the agreement. The tariff modification allows the Company to replace customer-owned service lines at its own initial cost. The Company will record the costs as a regulatory asset to be recovered in future base rates to customers, over a reasonable period of at least four but not more than six years. The cost for the customer-owned lead service line replacements under the four-year tariff modification was approximately $221 through March 31, 2018 and is included as a regulatory asset. Additional replacements are expected to be approximately $40 under the four-year tariff modification, assuming the average percentage of customer-owned lead service lines that were replaced when company-owned lead service lines were replaced through March 31, 2018 remains consistent over the entire replacement period. The Company is unable to predict how many lead customer-owned service lines are in use, and, therefore, its current estimate of $1,040 for replacements under the nine-year tariff modification is subject to adjustment as more facts become available.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue [Abstract]
Revenue	9. Revenue The following table shows the Company's revenues disaggregated by service and customer type. Three Months Ended March 31 2018 2017 Water utility service: Residential $ 7,318 $ 7,133 Commercial and industrial 3,134 3,119 Fire protection 713 719 Wastewater utility service: Residential 247 141 Commercial and industrial 61 21 Billing and revenue collection services 16 18 Collection services 18 15 Other revenue 8 8 Total Revenue from Contracts with Customers 11,515 11,174 Rents from regulated property 129 116 Total Operating Revenue $ 11,644 $ 11,290 Utility Service The Company provides utility service as a distinct and single performance obligation to each of its water and wastewater customers. The transaction price is detailed in the tariff pursuant to an order by the PPUC and made publicly available. There is no variable consideration and no free service, special rates, or subnormal charges to any customer. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied over time through the continuous provision of utility service through a stand-ready obligation to perform and the transfer of water or the collection of wastewater through a series of distinct transactions that are identical in nature and have the same pattern of transfer to the customer. The Company uses an output method to recognize the utility service revenue over time. The stand-ready obligation is recognized through the passage of time in the form of a fixed charge and the transfer of water or the collection of wastewater is recognized at a per unit rate based on the actual or estimated flow through the meter. Each customer is invoiced every month and the invoice is due within twenty days. The utility service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. A contract asset for unbilled revenue is recognized for the passage of time and the actual or estimated usage from the latest meter reading to the end of the accounting period. The methodology is standardized and consistently applied to reduce bias and the need for judgment. Billing and Revenue Collection Service The Company provides billing and revenue collection service as distinct performance obligations to four municipalities within the service territory of the Company. The municipalities provide wastewater service to their residents and the Company acts as the billing and revenue collection agent for the municipalities. The transaction price is a fixed amount per bill prepared as established in the contract. There is no variable consideration. Due to the fact that both the billing performance obligation and the revenue collection performance obligation are materially complete by the end of the reporting period, the Company does not allocate the transaction price between the two performance obligations. The performance obligations are satisfied at a point in time when the bills are sent as the municipalities receive all the benefits and bears all of the risk of non-collection at that time. Each municipality is invoiced when the bills are complete and the invoice is due within thirty days. The billing and revenue collection service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. Collection Service The Company provides collection service as a distinct and single performance obligation to several municipalities within the service territory of the Company. The municipalities provide wastewater service to their residents. If those residents are delinquent in paying for their wastewater service, the municipalities request that the Company post for and shut off the supply of water to the premises of those residents. When the resident is no longer delinquent, the Company will restore water service to the premises. The transaction price for each posting, each shut off, and each restoration is a fixed amount as established in the contract. There is no variable consideration. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied at a point in time when the posting, shut off, or restoration is completed as the municipalities receive all the benefits in the form of payment or no longer providing wastewater service. Each municipality is invoiced periodically for the posting, shut offs, and restorations that have been completed since the last billing and the invoice is due within thirty days. The collection service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. A contract asset for unbilled revenue is recognized for postings, shut offs, and restorations that have been completed from the last billing to the end of the accounting period. Service Line Protection Plan The Company provides service line protection as a distinct and single performance obligation to current water customers that choose to participate. The transaction price is detailed in the plan's terms and conditions and made publically available. There is no variable consideration. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied over time through the continuous provision of service line protection through a stand-ready obligation to perform. The Company uses an output method to recognize the service line protection revenue over time. The stand-ready obligation is recognized through the passage of time. A customer has a choice to prepay for an entire year or to pay in advance each month. The service line protection plan has no returns or extended warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no material performance obligations remain unsatisfied as of the end of the reporting period.

Rate Matters

Rate Matters	3 Months Ended
	Mar. 31, 2018
Rate Matters [Abstract]
Rate Matters	10. 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. Most recently, the PPUC authorized an increase in rates effective February 28, 2014. The PPUC permits water utilities to collect a distribution system improvement charge, or 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 Company's earnings are currently below the regulatory benchmark allowing the Company to collect DSIC. The DSIC provided revenues of $480 and $0 for the three months ended March 31, 2018 and 2017, respectively. On March 15, 2018, in conjunction with its review of the effects of the Tax Cuts and Jobs Act of 2017, or 2017 Tax Act, the PPUC issued an order to PPUC-regulated public utilities, including the Company, that declared all currently effective rates and riders to be temporary rates for a trial period of six months, which may be extended for an additional six months if necessary. The purpose was to maximize its authority to establish any negative surcharge, refund or other rate adjustment deemed to be necessary to account for the tax rate reductions that became effective on January 1, 2018.

Pensions

Pensions	3 Months Ended
	Mar. 31, 2018
Pensions [Abstract]
Pensions	11. Pensions Components of Net Periodic Pension Cost Three Months Ended March 31 2018 2017 Service cost $ 254 $ 270 Interest cost 379 398 Expected return on plan assets (698 ) (599 ) Amortization of actuarial loss 101 123 Amortization of prior service credit (3 ) (3 ) Rate-regulated adjustment 542 386 Net periodic pension expense $ 575 $ 575 Pension service cost is recorded in operating expenses. All other components of net periodic pension cost are recorded as other pension costs in other income (expenses). Employer Contributions The Company previously disclosed in its financial statements for the year ended December 31, 2017 that it expected to contribute $2,300 to its pension plans in 2018. For the quarter ended

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation On May 2, 2016, the Company's stockholders approved The York Water Company Long-Term Incentive Plan, or LTIP. The LTIP was adopted to provide the incentive of long-term stock-based awards to officers, directors and key employees. The LTIP provides for the granting of nonqualified stock options, incentive stock options, stock appreciation rights, performance restricted stock grants and units, restricted stock grants and units, and unrestricted stock grants. A maximum of 100,000 shares of common stock may be issued under the LTIP over the ten-year life of the plan. The maximum number of shares of common stock subject to awards that may be granted to any participant in any one calendar year is 2,000. Shares of common stock issued under the LTIP may be treasury shares or authorized but unissued shares. The LTIP will be administered by the Compensation Committee of the Board, or the full Board, provided that the full Board will administer the LTIP as it relates to awards to non-employee directors of the Company. The Company filed a registration statement with the Securities and Exchange Commission on May 11, 2016 covering the offering of stock under the LTIP. The LTIP was effective on July 1, 2016. No long-term stock-based awards were granted under the LTIP during the three months ended March 31, 2018 or 2017. No previously issued restricted stock awards vested or were forfeited during the three months ended March 31, 2018 or 2017. For the three months ended March 31, 2018 and 2017, the statement of income includes stock-based compensation of $4 and $2, respectively and related recognized tax benefits of $1 in each period. Total stock-based compensation related to nonvested awards not yet recognized is $31 which will be recognized over the remainder of the three year vesting period.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Taxes [Abstract]
Income Taxes	13. Income Taxes The 2017 Tax Act, among other things, reduces the federal statutory corporate tax rate for tax years beginning in 2018 from 34% to 21%, eliminates certain deductions, and eliminates bonus depreciation on qualified water and wastewater property. The Company filed for a change in accounting method under the Internal Revenue Service tangible property regulations effective in 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. The Company's effective tax rate was 25.1% and 27.0% for the three months ended March 31, 2018 and 2017, respectively. The lower federal statutory corporate tax rate was partially offset by a lower level of eligible asset improvements that were placed in service during the first three months of 2018 as compared to the first three months of 2017 The effective tax rate will vary depending on the level of eligible asset improvements that are placed in service each period and the full implementation of the 2017 Tax Act.

Impact of Recent Accounting Pro

Impact of Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2018
Impact of Recent Accounting Pronouncements [Abstract]
Impact of Recent Accounting Pronouncements	14. Impact of Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU clarifies when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption available. The Company adopted the standard on January 1, 2018. The adoption did not have an impact on its financial position, results of operations and cash flows. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost . This ASU requires employers to report the service cost component in the same line item as other compensation costs arising from services rendered by employees during the reporting period. The other components of net benefit costs will be presented in the income statement separately from the service cost and outside of a subtotal of income from operations. In addition, only the service cost component may be eligible for capitalization where applicable. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption available. The Company adopted the standard on January 1, 2018. For the three months ended March 31, 2018 and 2017, the adoption of this standard resulted in the reclassification on the statements of income of $321 and $305, respectively, of the components of net period pension cost other than service cost from operating expenses to other pension costs in other income (expenses). In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 320): Classification of Certain Cash Receipts and Cash Payments. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date

Impact of Recent Accounting P22

Impact of Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2018
Impact of Recent Accounting Pronouncements [Abstract]
Impact of Recent Accounting Pronouncements	In May 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2017-09, Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting . This ASU clarifies when a change to the terms or conditions of a share-based payment award must be accounted for as a modification. The guidance requires modification accounting if the fair value, vesting condition or the classification of the award is not the same immediately before and after a change to the terms and conditions of the award. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption available. The Company adopted the standard on January 1, 2018. The adoption did not have an impact on its financial position, results of operations and cash flows. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost . This ASU requires employers to report the service cost component in the same line item as other compensation costs arising from services rendered by employees during the reporting period. The other components of net benefit costs will be presented in the income statement separately from the service cost and outside of a subtotal of income from operations. In addition, only the service cost component may be eligible for capitalization where applicable. The ASU is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption available. The Company adopted the standard on January 1, 2018. For the three months ended March 31, 2018 and 2017, the adoption of this standard resulted in the reclassification on the statements of income of $321 and $305, respectively, of the components of net period pension cost other than service cost from operating expenses to other pension costs in other income (expenses). In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 320): Classification of Certain Cash Receipts and Cash Payments. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date

Accounts Receivable and Contr23

Accounts Receivable and Contract Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Accounts Receivable and Contract Assets [Abstract]
Accounts Receivable and Contract Assets	Accounts receivable and contract assets are summarized in the following table: As of Mar. 31, 2018 As of Dec. 31, 2017 Change Accounts receivable – customers $ 4,346 $ 4,661 $ (315 ) Other receivables 169 191 (22 ) 4,515 4,852 (337 ) Less: allowance for doubtful accounts (332 ) (305 ) (27 ) Accounts receivable, net $ 4,183 $ 4,547 $ (364 ) Unbilled revenue $ 2,344 $ 2,459 $ (115 )

Common Stock and Earnings Per24

Common Stock and Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Common Stock and Earnings Per Share [Abstract]
Shares Used in Computing Basic and Diluted Net Income per Share	Net income of $2,594 and $2,581 for the three months ended March 31, 2018 and 2017, respectively, is used to calculate both basic and diluted earnings per share. Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding plus potentially dilutive shares. The dilutive effect of employee stock-based compensation is included in the computation of diluted earnings per share and is calculated using the treasury stock method and expected proceeds upon exercise or issuance of the stock-based compensation. The following table summarizes the shares used in computing basic and diluted earnings per share: Three Months Ended March 31 2018 2017 Weighted average common shares, basic 12,876,514 12,851,505 Effect of dilutive securities: Employee stock-based compensation 110 18 Weighted average common shares, diluted 12,876,624 12,851,523

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt [Abstract]
Debt	For the three months ended March 31, 2018, the Company did not enter into any new long-term debt arrangements or modify its outstanding long-term debt, summarized in the table below. As of Mar. 31, 2018 As of Dec. 31, 2017 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 63 74 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% York County 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 14,870 14,870 5.00% Monthly Senior Notes, Series 2010A, due 2040 15,000 15,000 4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 10,000 10,000 Committed Line of Credit, due 2019 4,259 5,389 Total long-term debt 91,692 92,833 Less discount on issuance of long-term debt (212 ) (215 ) Less unamortized debt issuance costs (2,443 ) (2,476 ) Less current maturities (11,044 ) (44 ) Long-term portion $ 77,993 $ 90,098

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $1,872 $1,872 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, 2018. 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, 2018. The use of the Company's credit rating resulted in a reduction in the fair value of the swap liability of $35 as of March 31, 2018. The fair value of the swap reflecting the Company's credit quality as of December 31, 2017 is shown in the table below. Description December 31, 2017 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $2,196 $2,196

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue [Abstract]
Revenues Disaggregated by Service and Customer Type	The following table shows the Company's revenues disaggregated by service and customer type. Three Months Ended March 31 2018 2017 Water utility service: Residential $ 7,318 $ 7,133 Commercial and industrial 3,134 3,119 Fire protection 713 719 Wastewater utility service: Residential 247 141 Commercial and industrial 61 21 Billing and revenue collection services 16 18 Collection services 18 15 Other revenue 8 8 Total Revenue from Contracts with Customers 11,515 11,174 Rents from regulated property 129 116 Total Operating Revenue $ 11,644 $ 11,290

Pensions (Tables)

Pensions (Tables)	3 Months Ended
	Mar. 31, 2018
Pensions [Abstract]
Components of Net Periodic Pension Cost	Components of Net Periodic Pension Cost Three Months Ended March 31 2018 2017 Service cost $ 254 $ 270 Interest cost 379 398 Expected return on plan assets (698 ) (599 ) Amortization of actuarial loss 101 123 Amortization of prior service credit (3 ) (3 ) Rate-regulated adjustment 542 386 Net periodic pension expense $ 575 $ 575

Accounts Receivable and Contr29

Accounts Receivable and Contract Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Accounts Receivable and Contract Assets [Abstract]
Accounts receivable - customers	$ 4,346	$ 4,661
Other receivables	169	191
Accounts receivable	4,515	4,852
Less: Allowance for doubtful accounts	(332)	(305)
Accounts receivable, net	4,183	4,547
Unbilled revenue	2,344	$ 2,459
Change in accounts receivable - customers	(315)
Change in other receivables	(22)
Change in accounts receivable	(337)
Change in allowance for doubtful accounts	(27)
Change in accounts receivable, net	(364)
Change in unbilled revenue	$ (115)

Common Stock and Earnings Per30

Common Stock and Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 11, 2013
Common Stock and Earnings Per Share [Abstract]
Net income	$ 2,594	$ 2,581
Shares Used in Computing Basic and Diluted Net Income per Share [Abstract]
Weighted average common shares, basic (in shares)	12,876,514	12,851,505
Effect of dilutive securities [Abstract]
Employee stock-based compensation (in shares)	110	18
Weighted average common shares, diluted (in shares)	12,876,624	12,851,523
Stock Repurchase Program [Abstract]
Number of shares authorized to be repurchased under the stock repurchase program (in shares)			1,200,000
Number of shares repurchased under the stock repurchase program (in shares)	0	24,329
Number of remaining shares authorized to be repurchased under the stock repurchase program (in shares)	618,004

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt [Abstract]
Total long-term debt	$ 91,692	$ 92,833
Less discount on issuance of long-term debt	(212)	(215)
Less unamortized debt issuance costs	(2,443)	(2,476)
Less current maturities	(11,044)	(44)
Long-term portion	77,993	90,098
10.17% Senior Notes, Series A, due 2019 [Member]
Debt [Abstract]
Total long-term debt	$ 6,000	6,000
Interest rate	10.17%
9.60% Senior Notes, Series B, due 2019 [Member]
Debt [Abstract]
Total long-term debt	$ 5,000	5,000
Interest rate	9.60%
1.00% Pennvest Note, due 2019 [Member]
Debt [Abstract]
Total long-term debt	$ 63	74
Interest rate	1.00%
10.05% Senior Notes, Series C, due 2020 [Member]
Debt [Abstract]
Total long-term debt	$ 6,500	6,500
Interest rate	10.05%
8.43% Senior Notes, Series D, due 2022 [Member]
Debt [Abstract]
Total long-term debt	$ 7,500	7,500
Interest rate	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% York County Industrial Development Authority Revenue Bonds, series 2006, due 2036 [Member]
Debt [Abstract]
Total long-term debt	$ 10,500	10,500
Interest rate	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	$ 14,870	14,870
Interest rate	4.50%
5.00% Monthly Senior Notes, Series 2010A, due 2040 [Member]
Debt [Abstract]
Total long-term debt	$ 15,000	15,000
Interest rate	5.00%
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 [Member]
Debt [Abstract]
Total long-term debt	$ 10,000	10,000
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 [Member] | Maximum [Member]
Debt [Abstract]
Interest rate	4.50%
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 [Member] | Minimum [Member]
Debt [Abstract]
Interest rate	4.00%
Committed Line of Credit, due 2019 [Member]
Debt [Abstract]
Total long-term debt	$ 4,259	$ 5,389

Interest Rate Swap Agreement (D

Interest Rate Swap Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Interest Rate Swap Agreement [Abstract]
Long-term debt	$ 91,692		$ 92,833
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
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 [Member] | Interest Rate Swap [Member]
Interest Rate Swap Agreement [Abstract]
Notional amount of swap	$ 12,000
Fixed interest rate	3.16%
Net payment rate on swap	2.18%	2.64%
Interest rate swap settlements reclassified from regulatory assets to interest expense	$ 65	$ 79
Interest rate swap (gain) loss capitalized	(257)	$ 9
Interest rate swap settlements to be reclassified during the next 12 months	225
Potential payment to counterparty	$ 1,907
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 [Member] | LIBOR [Member] | Interest Rate Swap [Member]
Interest Rate Swap Agreement [Abstract]
Percentage of variable interest rate	59.00%
Term of variable rate	1 month

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
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	$ 35
Fair Value on a Recurring Basis [Member]
Interest Rate Swap [Abstract]
Interest rate swap	1,872	$ 2,196
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	1,872	2,196
Carrying Amount [Member]
Fair Value, Financial Liabilities [Abstract]
Total long-term debt	91,692	92,833
Estimate of Fair Value [Member]
Fair Value, Financial Liabilities [Abstract]
Total long-term debt	102,000	108,000
Carrying Amount (Fair Value Not Accurately Estimated) [Member]
Liabilities [Abstract]
Customer advances for construction	6,461	6,324
Assets [Abstract]
Notes receivable	$ 255	$ 255

Commitments (Details)

Commitments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)gal / moServiceLine	Mar. 31, 2017USD ($)
Company-Owned Lead Service Lines [Member]
Commitments [Abstract]
Monthly credit provided to affected customers to flush line | gal / mo	200
Water testing expenses and flushing credits incurred	$ 2	$ 7
Term to replace all remaining company-owned lead service lines	4 years
Costs incurred to replace company-owned lead service lines	$ 1,681
Costs to be incurred to replace company-owned lead service lines	$ 310
Customer-Owned Lead Service Lines [Member]
Commitments [Abstract]
Term of tariff modification to replace customer-owned lead service lines connected to company-owned lead service lines	4 years
Number of lead customer-owned service lines to be replaced annually | ServiceLine	400
Term of tariff modification to replace customer-owned lead service lines regardless of material used for company-owned service lines	9 years
Costs incurred to replace customer-owned lead service lines connected to company-owned lead service lines	$ 221
Costs to be incurred to replace customer-owned lead service lines connected to company-owned lead service lines	40
Costs to be incurred to replace customer-owned lead service lines regardless of the material used for company-owned lead service lines	$ 1,040
Customer-Owned Lead Service Lines [Member] | Minimum [Member]
Commitments [Abstract]
Recovery period of regulatory asset	4 years
Customer-Owned Lead Service Lines [Member] | Maximum [Member]
Commitments [Abstract]
Recovery period of regulatory asset	6 years

Revenue (Details)

Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Municipality	Mar. 31, 2017USD ($)
Revenue [Abstract]
Revenue from contracts with customers	$ 11,515	$ 11,174
Rents from regulated property	129	116
Operating revenue	$ 11,644	11,290
Utility Service [Member]
Revenue [Abstract]
Number of days for customer to make payment after being invoiced	20 days
Water Utility Service [Member] | Residential [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 7,318	7,133
Water Utility Service [Member] | Commercial and Industrial [Member]
Revenue [Abstract]
Revenue from contracts with customers	3,134	3,119
Water Utility Service [Member] | Fire Protection [Member]
Revenue [Abstract]
Revenue from contracts with customers	713	719
Wastewater Utility Service [Member] | Residential [Member]
Revenue [Abstract]
Revenue from contracts with customers	247	141
Wastewater Utility Service [Member] | Commercial and Industrial [Member]
Revenue [Abstract]
Revenue from contracts with customers	61	21
Billing and Revenue Collection Services [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 16	18
Number of days for customer to make payment after being invoiced	30 days
Number of municipalities within the service territory provided service | Municipality	4
Collection Services [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 18	15
Number of days for customer to make payment after being invoiced	30 days
Other Revenue [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 8	$ 8

Rate Matters (Details)

Rate Matters (Details) - DSIC [Member] - PPUC [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Rate Matters [Abstract]
Distribution system improvement charge revenue	$ 480	$ 0
Maximum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate	5.00%
Minimum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate	0.00%

Pensions (Details)

Pensions (Details) - Pension Plans [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Components of Net Periodic Benefit Cost [Abstract]
Service cost	$ 254	$ 270
Interest cost	379	398
Expected return on plan assets	(698)	(599)
Amortization of actuarial loss	101	123
Amortization of prior service credit	(3)	(3)
Rate-regulated adjustment	542	386
Net periodic pension expense	575	$ 575
Employer Contributions [Abstract]
Estimated employer contributions in 2018			$ 2,300
Contributions made by employer	575
Estimated future contributions in current year	$ 1,725

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - LTIP [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	May 02, 2016
Stock-Based Compensation [Abstract]
Maximum number of shares of common stock that can be issued under the plan (in shares)			100,000
Term of plan	10 years
Maximum number of shares of common stock subject to awards that may be granted to a participant per calendar year (in shares)	2,000
Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)	0
Vested (in shares)	0
Forfeited (in shares)	0
Stock-Based Compensation Expense [Abstract]
Stock-based compensation expense	$ 4	$ 2
Recognized tax benefits related to stock-based compensation expense	1	$ 1
Stock-based compensation expense not yet recognized	$ 31
Restricted Stock [Member] | Officers and Key Employees [Member]
Stock-Based Compensation [Abstract]
Vesting period	3 years

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Taxes [Abstract]
Federal corporate tax rate	21.00%		34.00%
Effective tax rate	25.10%	27.00%

Impact of Recent Accounting P40

Impact of Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements [Abstract]
Operating expenses	$ 6,504	$ 6,128
Other pension costs	321	305
ASU No. 2017-07 [Member]
New Accounting Pronouncements [Abstract]
Operating expenses	(321)	(305)
Other pension costs	$ 321	$ 305