The York Water Company (YORW) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 07, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	YORK WATER CO
Entity Central Index Key	0000108985
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		12,956,282
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
UTILITY PLANT, at original cost	$ 384,291	$ 380,784
Plant acquisition adjustments	(3,093)	(3,108)
Accumulated depreciation	(80,068)	(78,519)
Net utility plant	301,130	299,157
OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $415 in 2019 and $410 in 2018	709	714
CURRENT ASSETS:
Cash and cash equivalents	2	2
Accounts receivable, net of reserves of $326 in 2019 and $305 in 2018	4,114	4,811
Unbilled revenues	2,155	2,427
Materials and supplies inventories, at cost	1,040	876
Prepaid expenses	1,339	895
Total current assets	8,650	9,011
OTHER LONG-TERM ASSETS:
Note receivable	255	255
Deferred regulatory assets	32,321	32,353
Other assets	3,665	3,650
Total other long-term assets	36,241	36,258
Total Assets	346,730	345,140
COMMON STOCKHOLDERS' EQUITY:
Common stock, no par value, authorized 46,500,000 shares, issued and outstanding 12,954,976 shares in 2019 and 12,943,536 shares in 2018	81,703	81,305
Retained earnings	45,460	44,890
Total common stockholders' equity	127,163	126,195
PREFERRED STOCK, authorized 500,000 shares, no shares issued	0	0
LONG-TERM DEBT, excluding current portion	94,089	93,328
COMMITMENTS
CURRENT LIABILITIES:
Short-term borrowings	0	1,000
Current portion of long-term debt	19	30
Accounts payable	2,690	3,030
Dividends payable	2,003	1,999
Accrued compensation and benefits	1,129	1,191
Accrued income taxes	524	150
Accrued interest	1,409	992
Deferred regulatory liabilities	2,211	2,104
Other accrued expenses	395	345
Total current liabilities	10,380	10,841
DEFERRED CREDITS:
Customers' advances for construction	7,214	6,849
Deferred income taxes	37,202	36,962
Deferred employee benefits	4,200	4,715
Deferred regulatory liabilities	24,745	24,710
Other deferred credits	2,010	1,815
Total deferred credits	75,371	75,051
Contributions in aid of construction	39,727	39,725
Total Stockholders' Equity and Liabilities	$ 346,730	$ 345,140

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Other physical property, accumulated depreciation	$ 415	$ 410
CURRENT ASSETS:
Accounts receivables, reserves	$ 326	$ 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)	12,954,976	12,943,536
Common stock, outstanding (in shares)	12,954,976	12,943,536
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, 2019	Mar. 31, 2018
Statements of Income (Unaudited) [Abstract]
Operating revenues	$ 11,831	$ 11,644
OPERATING EXPENSES:
Operation and maintenance	2,407	2,354
Administrative and general	1,906	1,995
Depreciation and amortization	1,891	1,841
Taxes other than income taxes	341	314
Operating expenses	6,545	6,504
Operating income	5,286	5,140
OTHER INCOME (EXPENSES):
Interest on debt	(1,327)	(1,364)
Allowance for funds used during construction	69	92
Other pension costs	(363)	(321)
Other income (expenses), net	(151)	(82)
Other income (expenses)	(1,772)	(1,675)
Income before income taxes	3,514	3,465
Income taxes	701	871
Net Income	$ 2,813	$ 2,594
Basic Earnings Per Share (in dollars per share)	$ 0.22	$ 0.20
Diluted Earnings Per Share (in dollars per share)	0.22	0.20
Cash Dividends Declared Per Share (in dollars per share)	$ 0.1733	$ 0.1666

Statements of Common Stockholde

Statements of Common Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2017	$ 79,201	$ 40,204	$ 119,405
Balance (in shares) at Dec. 31, 2017	12,872,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	2,594	2,594
Dividends	0	(2,146)	(2,146)
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 591	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	4
Stock-based compensation (in shares)	0
Balance at Mar. 31, 2018	$ 79,796	40,652	120,448
Balance (in shares) at Mar. 31, 2018	12,892,798
Balance at Dec. 31, 2018	$ 81,305	44,890	$ 126,195
Balance (in shares) at Dec. 31, 2018	12,943,536		12,943,536
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	2,813	$ 2,813
Dividends	0	(2,243)	(2,243)
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 384	0	384
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	11,440
Stock-based compensation	$ 14	0	14
Stock-based compensation (in shares)	0
Balance at Mar. 31, 2019	$ 81,703	$ 45,460	$ 127,163
Balance (in shares) at Mar. 31, 2019	12,954,976		12,954,976

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,813	$ 2,594
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,891	1,841
Stock-based compensation	14	4
Increase (decrease) in deferred income taxes	(7)	136
Other	83	71
Changes in assets and liabilities:
Decrease in accounts receivable and unbilled revenues	893	403
Increase in materials and supplies, prepaid expenses, regulatory and other assets	(1,507)	(1,238)
Increase in accounts payable, accrued compensation and benefits, accrued expenses, deferred employee benefits, regulatory liabilities, and other deferred credits	618	1,100
Increase in accrued interest and taxes	791	527
Net cash provided by operating activities	5,589	5,438
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, including debt portion of allowance for funds used during construction of $39 in 2019 and $51 in 2018	(3,273)	(3,026)
Cash received from surrender of life insurance policies	0	108
Net cash used in investing activities	(3,273)	(2,918)
CASH FLOWS FROM FINANCING ACTIVITIES:
Customers' advances for construction and contributions in aid of construction	419	423
Repayments of customer advances	(52)	(112)
Proceeds of long-term debt issues	25,970	5,072
Debt issuance costs	(180)	0
Repayments of long-term debt	(25,077)	(6,213)
Repayments under short-term line of credit agreements	(1,000)	0
Changes in cash overdraft position	(541)	(140)
Issuance of common stock	384	591
Dividends paid	(2,239)	(2,141)
Net cash used in financing activities	(2,316)	(2,520)
Net change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	2	2
Cash and cash equivalents at end of period	2	2
Cash paid during the period for:
Interest, net of amounts capitalized	843	1,159
Income taxes	$ 0	$ 0
Supplemental disclosure of non-cash investing and financing activities:
Accounts payable includes $1,078 in 2019 and $1,557 in 2018 for the construction of utility plant.

Statements of Cash Flows (Una_2

Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, debt portion of allowance for funds used during construction	$ 39	$ 51
Supplemental disclosure of non-cash investing and financing activities:
Accounts payable for construction of utility plant	$ 1,078	$ 1,557

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
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, 2018. Operating results for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

Accounts Receivable and Contrac

Accounts Receivable and Contract Assets	3 Months Ended
	Mar. 31, 2019
Accounts Receivable and Contract Assets [Abstract]
Accounts Receivable and Contract Assets	2. Accounts Receivable and Contract Assets Accounts receivable and contract assets are summarized in the following table: As of Mar. 31, 2019 As of Dec. 31, 2018 Change Accounts receivable – customers $ 4,263 $ 4,731 $ (468 ) Other receivables 177 385 (208 ) 4,440 5,116 (676 ) Less: allowance for doubtful accounts (326 ) (305 ) (21 ) Accounts receivable, net $ 4,114 $ 4,811 $ (697 ) Unbilled revenue $ 2,155 $ 2,427 $ (272 ) 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.

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt [Abstract]
Debt	4. Debt As of Mar. 31, 2019 As of Dec. 31, 2018 10.17% Senior Notes, Series A, due 2019 $ – $ 6,000 9.60% Senior Notes, Series B, due 2019 – 5,000 1.00% Pennvest Note, due 2019 19 30 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 4.54% Senior Notes, due 2049 20,000 – Committed Lines of Credit, due 2020 409 8,508 Total long-term debt 96,798 95,908 Less discount on issuance of long-term debt (201 ) (204 ) Less unamortized debt issuance costs (2,489 ) (2,346 ) Less current maturities (19 ) (30 ) Long-term portion $ 94,089 $ 93,328 On January 31, 2019, the Company entered into a note purchase agreement with certain institutional investors relating to the private placement of $20,000 aggregate principal amount of the Company’s senior notes. The senior notes bear interest at 4.54% per annum payable semiannually and mature on January 31, 2049. The senior notes are unsecured and unsubordinated obligations of the Company. The Company received net proceeds, after deducting issuance costs, of approximately $19,820. The net proceeds were used to refinance the $11,000 aggregate principal amount of the Company’s 10.17% Series A Senior Notes due February 1, 2019 and the 9.60% Series B Senior Notes due February 1, 2019, and to refinance line of credit borrowings incurred by the Company as interim financing for various capital projects of the Company.

Interest Rate Swap Agreement

Interest Rate Swap Agreement	3 Months Ended
	Mar. 31, 2019
Interest Rate Swap Agreement [Abstract]
Interest Rate Swap Agreement	5. 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 1.64% and 2.18% during the three months ended March 31, 2019 and 2018, 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 6). The Company uses regulatory accounting treatment rather than hedge accounting to defer the unrealized gains and losses on its interest rate swap. These unrealized gains and losses are 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 $50 and $65 during the three months ended March 31, 2019 and 2018, respectively. The overall swap result was a (gain) loss of $244 and $(257) for the three months ended March 31, 2019 and 2018, respectively. The Company expects to reclassify $212 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 April 5, 2019 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, 2019. If a violation due to credit rating, or some other default provision, were triggered on March 31, 2019, the Company would have been required to pay the counterparty approximately $2,045. The interest rate swap will expire on October 1, 2029

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Measurements [Abstract]
Fair Value Measurements	6. 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, 2019 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $2,010 $2,010 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, 2019. 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, 2019. 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, 2019. The fair value of the swap reflecting the Company's credit quality as of December 31, 2018 is shown in the table below. Description December 31, 2018 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $1,815 $1,815 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 $96,798 at March 31, 2019, and $95,908 at December 31, 2018, had an estimated fair value of approximately $110,000 and $105,000, 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 had carrying values at March 31, 2019 of $7,214 and $255, respectively. At December 31, 2018, customers' advances for construction and note receivable had carrying values of $6,849 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, 2019
Commitments [Abstract]
Commitments	7. 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. The Company did not have an exceedance in any subsequent compliance test. 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 $2,365 and $2,341 through March 31, 2019 and December 31, 2018, respectively, and is included in utility plant. As of March 31, 2019, all known company-owned lead service lines have been replaced. Any additional company-owned lead service lines that are discovered will be replaced but 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 annual replacement of up to 400 lead customer-owned service lines 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 four-year period. The cost for the customer-owned lead service line replacements was approximately $345 and $304 through March 31, 2019 and December 31, 2018, respectively, and is included as a regulatory asset. Based on its experience, the Company estimates that lead customer-owned service lines replacements will cost $910. This estimate is subject to adjustment as more facts become available.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2019
Revenue [Abstract]
Revenue	8. Revenue The following table shows the Company’s revenues disaggregated by service and customer type. Three Months Ended March 31 2019 2018 Water utility service: Residential $ 7,458 $ 7,318 Commercial and industrial 3,163 3,134 Fire protection 734 713 Wastewater utility service: Residential 253 247 Commercial and industrial 60 61 Billing and revenue collection services 18 16 Collection services 17 18 Other revenue 3 8 Total Revenue from Contracts with Customers 11,706 11,515 Rents from regulated property 125 129 Total Operating Revenue $ 11,831 $ 11,644 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 publicly 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, 2019
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 30, 2018 and sought an annual increase in water rates of $6,399 and an annual increase in wastewater rates of $289. Effective March 1, 2019, the PPUC authorized an increase in water rates designed to produce approximately $3,361 in additional annual revenues and an increase in wastewater rates designed to produce approximately $289 in additional annual revenues. As part of a rate order approved by the PPUC, the Company has agreed to return $2,117 to customers as a reconcilable negative surcharge on their bills generated from March 2019 through February 2020 for the benefit of the lower tax rate effective January 1, 2018 resulting from the enactment of the Tax Cuts and Jobs Act of 2017, or 2017 Tax Act. During the three months ended March 31, 2019, the Company increased its regulatory liability by reducing revenue by $284, including the gross-up of revenue necessary to return, in rates, the effect of this temporary tax difference, and reclassified $27 from excess accumulated deferred income taxes on accelerated depreciation recorded at December 31, 2017. The Company returned $257 of the negative surcharges during the three months ended March 31, 2019. 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 DSIC reset to when the new base rates took effect March 1, 2019.

Pensions

Pensions	3 Months Ended
	Mar. 31, 2019
Pensions [Abstract]
Pensions	10. Pensions Components of Net Periodic Pension Cost Three Months Ended March 31 2019 2018 Service cost $ 212 $ 254 Interest cost 411 379 Expected return on plan assets (683 ) (698 ) Amortization of actuarial loss 105 101 Amortization of prior service credit (3 ) (3 ) Rate-regulated adjustment 533 542 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, 2018 that it expected to contribute $2,300 to its pension plans in 2019. For the three months ended March 31, 2019

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Stock-Based Compensation [Abstract]
Stock-Based Compensation	11. 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. On November 20, 2018, the Board accelerated the vesting period for restricted stock granted in 2016, 2017, and 2018 to one retiring officer from three years to that officer’s 2019 retirement date, which has been fully recognized as of March 31, 2019. The restricted stock awards provide the grantee with the rights of a shareholder, including the right to receive dividends and to vote such shares, but not the right to sell or otherwise transfer the shares during the restriction period. As a result, the awards are included in common shares outstanding on the balance sheet. Restricted stock awards result in compensation expense valued at the fair market value of the stock on the date of the grant and are amortized ratably over the restriction period. The following tables summarize the stock grant amounts and activity for the three months ended March 31, 2019. Number of Shares Grant Date Weighted Average Fair Value Nonvested at beginning of the period 3,080 $33.85 Granted – – Vested (261 ) $33.99 Forfeited – – Nonvested at end of the period 2,819 $33.84 For the three months ended March 31, 2019 and 2018, the statement of income includes $14 and $4 of stock-based compensation, respectively, and related recognized tax benefits of $4 and $1, respectively. The total fair value of the shares vested in the three months ended March 31, 2019 was $9. Total stock based compensation related to nonvested awards not yet recognized is $95 which will be recognized over the remaining three year vesting period.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Taxes [Abstract]
Income Taxes	12. Income Taxes The Company filed for a change in accounting method under the Internal Revenue Service tangible property regulations, or TPR, 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 19.9% and 25.1% for the three months ended March 31, 2019 and 2018, respectively. The lower effective tax rate is primarily due to higher deductions from the TPR and lower state income taxes. The effective tax rate will vary depending on the level of eligible asset improvements expensed for tax purposes under TPR each period.

Impact of Recent Accounting Pro

Impact of Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Impact of Recent Accounting Pronouncements [Abstract]
Impact of Recent Accounting Pronouncements	13. Impact of Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2016-02, Leases (Topic 842)

Impact of Recent Accounting P_2

Impact of Recent Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2019
Impact of Recent Accounting Pronouncements [Abstract]
Impact of Recent Accounting Pronouncements	In February 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2016-02, Leases (Topic 842)

Accounts Receivable and Contr_2

Accounts Receivable and Contract Assets (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 As of Dec. 31, 2018 Change Accounts receivable – customers $ 4,263 $ 4,731 $ (468 ) Other receivables 177 385 (208 ) 4,440 5,116 (676 ) Less: allowance for doubtful accounts (326 ) (305 ) (21 ) Accounts receivable, net $ 4,114 $ 4,811 $ (697 ) Unbilled revenue $ 2,155 $ 2,427 $ (272 )

Common Stock and Earnings Per S

Common Stock and Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Common Stock and Earnings Per Share [Abstract]
Shares Used in Computing Basic and Diluted Earnings per Share	The following table summarizes the shares used in computing basic and diluted earnings per share. Three Months Ended March 31 2019 2018 Weighted average common shares, basic 12,942,342 12,876,514 Effect of dilutive securities: Employee stock-based compensation 695 110 Weighted average common shares, diluted 12,943,037 12,876,624

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt [Abstract]
Debt	As of Mar. 31, 2019 As of Dec. 31, 2018 10.17% Senior Notes, Series A, due 2019 $ – $ 6,000 9.60% Senior Notes, Series B, due 2019 – 5,000 1.00% Pennvest Note, due 2019 19 30 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 4.54% Senior Notes, due 2049 20,000 – Committed Lines of Credit, due 2020 409 8,508 Total long-term debt 96,798 95,908 Less discount on issuance of long-term debt (201 ) (204 ) Less unamortized debt issuance costs (2,489 ) (2,346 ) Less current maturities (19 ) (30 ) Long-term portion $ 94,089 $ 93,328

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $2,010 $2,010 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, 2019. 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, 2019. 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, 2019. The fair value of the swap reflecting the Company's credit quality as of December 31, 2018 is shown in the table below. Description December 31, 2018 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $1,815 $1,815

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2019
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 2019 2018 Water utility service: Residential $ 7,458 $ 7,318 Commercial and industrial 3,163 3,134 Fire protection 734 713 Wastewater utility service: Residential 253 247 Commercial and industrial 60 61 Billing and revenue collection services 18 16 Collection services 17 18 Other revenue 3 8 Total Revenue from Contracts with Customers 11,706 11,515 Rents from regulated property 125 129 Total Operating Revenue $ 11,831 $ 11,644

Pensions (Tables)

Pensions (Tables)	3 Months Ended
	Mar. 31, 2019
Pensions [Abstract]
Components of Net Periodic Pension Cost	Components of Net Periodic Pension Cost Three Months Ended March 31 2019 2018 Service cost $ 212 $ 254 Interest cost 411 379 Expected return on plan assets (683 ) (698 ) Amortization of actuarial loss 105 101 Amortization of prior service credit (3 ) (3 ) Rate-regulated adjustment 533 542 Net periodic pension expense $ 575 $ 575

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Stock-Based Compensation [Abstract]
Restricted Stock	The following tables summarize the stock grant amounts and activity for the three months ended March 31, 2019. Number of Shares Grant Date Weighted Average Fair Value Nonvested at beginning of the period 3,080 $33.85 Granted – – Vested (261 ) $33.99 Forfeited – – Nonvested at end of the period 2,819 $33.84

Accounts Receivable and Contr_3

Accounts Receivable and Contract Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Accounts Receivable and Contract Assets [Abstract]
Accounts receivable - customers	$ 4,263	$ 4,731
Other receivables	177	385
Accounts receivable	4,440	5,116
Less: allowance for doubtful accounts	(326)	(305)
Accounts receivable, net	4,114	4,811
Unbilled revenue	2,155	$ 2,427
Change in accounts receivable - customers	(468)
Change in other receivables	(208)
Change in accounts receivable	(676)
Change in allowance for doubtful accounts	(21)
Change in accounts receivable, net	(697)
Change in unbilled revenue	$ (272)

Common Stock and Earnings Per_2

Common Stock and Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 11, 2013
Common Stock and Earnings Per Share [Abstract]
Net income	$ 2,813	$ 2,594
Shares Used in Computing Basic and Diluted Earnings per Share [Abstract]
Weighted average common shares, basic (in shares)	12,942,342	12,876,514
Effect of dilutive securities [Abstract]
Employee stock-based compensation (in shares)	695	110
Weighted average common shares, diluted (in shares)	12,943,037	12,876,624
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	0
Number of remaining shares authorized to be repurchased under the stock repurchase program (in shares)	618,004

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt [Abstract]
Total long-term debt		$ 96,798	$ 95,908
Less discount on issuance of long-term debt		(201)	(204)
Less unamortized debt issuance costs		(2,489)	(2,346)
Less current maturities		(19)	(30)
Long-term portion		94,089	93,328
10.17% Series A Senior Notes and 9.60% Series B Senior Notes [Member]
Debt [Abstract]
Face value	$ 11,000
10.17% Senior Notes, Series A, due 2019 [Member]
Debt [Abstract]
Total long-term debt		$ 0	6,000
Interest rate	10.17%	10.17%
Maturity date	Feb. 1, 2019
9.60% Senior Notes, Series B, due 2019 [Member]
Debt [Abstract]
Total long-term debt		$ 0	5,000
Interest rate	9.60%	9.60%
Maturity date	Feb. 1, 2019
1.00% Pennvest Note, due 2019 [Member]
Debt [Abstract]
Total long-term debt		$ 19	30
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] | Minimum [Member]
Debt [Abstract]
Interest rate		4.00%
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%
4.54% Senior Notes, due 2049 [Member]
Debt [Abstract]
Total long-term debt		$ 20,000	0
Face value	$ 20,000
Interest rate	4.54%	4.54%
Maturity date	Jan. 31, 2049
Proceeds from debt, net of issuance costs	$ 19,820
Committed Lines of Credit, due 2020 [Member]
Debt [Abstract]
Total long-term debt		$ 409	$ 8,508

Interest Rate Swap Agreement (D

Interest Rate Swap Agreement (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Interest Rate Swap Agreement [Abstract]
Long-term debt	$ 96,798		$ 95,908
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	1.64%	2.18%
Interest rate swap settlements reclassified from regulatory assets to interest expense	$ 50	$ 65
Overall interest rate swap (gain) loss	244	$ (257)
Interest rate swap settlements to be reclassified during the next 12 months	212
Potential payment to counterparty	$ 2,045
LIBOR [Member] | Interest Rate Swap [Member]
Interest Rate Swap Agreement [Abstract]
Percentage of variable interest rate	59.00%
Term of variable rate	1 month
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 ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
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 Measurements [Abstract]
Customers' advances for construction	7,214	$ 6,849
Note receivable	255	255
Fair Value on a Recurring Basis [Member]
Interest Rate Swap [Abstract]
Interest rate swap	2,010	1,815
Fair Value on a Recurring Basis [Member] | Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) [Member]
Interest Rate Swap [Abstract]
Interest rate swap	2,010	1,815
Carrying Amount [Member]
Fair Value, Financial Liabilities [Abstract]
Total long-term debt	96,798	95,908
Estimated Fair Value [Member]
Fair Value, Financial Liabilities [Abstract]
Total long-term debt	$ 110,000	$ 105,000

Commitments (Details)

Commitments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)ServiceLine	Dec. 31, 2018USD ($)
Company-Owned Lead Service Lines [Member]
Commitments [Abstract]
Term to replace all remaining company-owned lead service lines	4 years
Costs incurred to replace company-owned lead service lines	$ 2,365	$ 2,341
Customer-Owned Lead Service Lines [Member]
Commitments [Abstract]
Number of lead customer-owned service lines to be replaced annually | ServiceLine	400
Term of tariff modification to replace customer-owned lead service lines	9 years
Recovery period of regulatory asset	4 years
Costs incurred to replace customer-owned lead service lines	$ 345	$ 304
Costs to be incurred to replace customer-owned lead service lines	$ 910

Revenue (Details)

Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)Municipality	Mar. 31, 2018USD ($)
Revenue [Abstract]
Revenue from contracts with customers	$ 11,706	$ 11,515
Rents from regulated property	125	129
Total operating revenue	$ 11,831	11,644
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	$ 7,458	7,318
Water Utility Service [Member] | Commercial and Industrial [Member]
Revenue [Abstract]
Revenue from contracts with customers	3,163	3,134
Water Utility Service [Member] | Fire Protection [Member]
Revenue [Abstract]
Revenue from contracts with customers	734	713
Wastewater Utility Service [Member] | Residential [Member]
Revenue [Abstract]
Revenue from contracts with customers	253	247
Wastewater Utility Service [Member] | Commercial and Industrial [Member]
Revenue [Abstract]
Revenue from contracts with customers	60	61
Billing and Revenue Collection Services [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 18	16
Number of municipalities within the service territory provided service | Municipality	4
Number of days for customer to make payment after being invoiced	30 days
Collection Services [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 17	18
Number of days for customer to make payment after being invoiced	30 days
Other Revenue [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 3	$ 8

Rate Matters (Details)

Rate Matters (Details) - PPUC [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Rate Matters [Abstract]
Amount agreed to be returned to customers for effects of 2017 Tax Act	$ 2,117
Revenue recorded as regulatory liability for effects of 2017 Tax Act	(284)
Reclassification from excess accumulated deferred income taxes on accelerated depreciation	27
Negative surcharges returned to customers for effects of 2017 Tax Act	257
Rate Request Filed on May 30, 2018 [Member] | Water [Member]
Rate Matters [Abstract]
Requested increase in annual revenue	6,399
Authorized dollar increase in annual revenues from the PPUC	3,361
Rate Request Filed on May 30, 2018 [Member] | Wastewater [Member]
Rate Matters [Abstract]
Requested increase in annual revenue	289
Authorized dollar increase in annual revenues from the PPUC	289
DSIC [Member]
Rate Matters [Abstract]
Distribution system improvement charge revenue	$ 249	$ 480
DSIC [Member] | Maximum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate	5.00%
DSIC [Member] | 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, 2019	Mar. 31, 2018	Dec. 31, 2018
Components of Net Periodic Pension Cost [Abstract]
Service cost	$ 212	$ 254
Interest cost	411	379
Expected return on plan assets	(683)	(698)
Amortization of actuarial loss	105	101
Amortization of prior service credit	(3)	(3)
Rate-regulated adjustment	533	542
Net periodic pension expense	575	$ 575
Employer Contributions [Abstract]
Estimated employer contributions in 2019			$ 2,300
Contributions made by employer	575
Estimated future contributions in current year	$ 1,725

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	Nov. 20, 2018Officer	Mar. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018USD ($)	May 02, 2016shares
Stock-Based Compensation [Abstract]
Number of retiring officers receiving accelerated vesting period | Officer	1
LTIP [Member]
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
LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Nonvested at beginning of the period (in shares)		3,080
Granted (in shares)		0
Vested (in shares)		(261)
Forfeited (in shares)		0
Nonvested at end of the period (in shares)		2,819
Grant Date Weighted Average Fair Value [Abstract]
Nonvested at beginning of the period (in dollars per share) | $ / shares		$ 33.85
Granted (in dollars per share) | $ / shares		0
Vested (in dollars per share) | $ / shares		33.99
Forfeited (in dollars per share) | $ / shares		0
Nonvested at end of the period (in dollars per share) | $ / shares		$ 33.84
Stock-Based Compensation Expense [Abstract]
Stock-based compensation expense | $		$ 14	$ 4
Recognized tax benefits related to stock-based compensation expense | $		4	$ 1
Fair value of vested shares | $		9
Stock-based compensation expense not yet recognized | $		$ 95
Period of recognition		3 years
LTIP [Member] | 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
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Effective tax rate	19.90%	25.10%