Debt Disclosure [Text Block] | Note 4 Debt AND FINANCING ARRANGEMENTS Details on long-term debt at June 30, 2019, June 30, 2018 and December 31, 2018 are shown below: ($ millions) June 30, December 31, 2019 2018 2018 Unitil Corporation: 6.33% Senior Notes, Due $ 20.0 $ 20.0 $ 20.0 3.70% Senior Notes, Due August 1, 2026 30.0 30.0 30.0 Unitil Energy First Mortgage Bonds: 5.24% Senior Secured Notes, Due March 2, 2020 5.0 10.0 10.0 8.49% Senior Secured Notes, Due October 14, 2024 6.0 7.5 6.0 6.96% Senior Secured Notes, Due September 1, 2028 20.0 20.0 20.0 8.00% Senior Secured Notes, Due May 1, 2031 15.0 15.0 15.0 6.32% Senior Secured Notes, Due September 15, 2036 15.0 15.0 15.0 4.18% Senior Secured Notes, Due November 30, 2048 30.0 — 30.0 Fitchburg: 6.75% Senior Notes, Due November 30, 2023 5.7 7.6 5.7 6.79% Senior Notes, Due October 15, 2025 10.0 10.0 10.0 3.52% Senior Notes, Due November 1, 2027 10.0 10.0 10.0 7.37% Senior Notes, Due January 15, 2029 12.0 12.0 12.0 5.90% Senior Notes, Due December 15, 2030 15.0 15.0 15.0 7.98% Senior Notes, Due June 1, 2031 14.0 14.0 14.0 4.32% Senior Notes, Due November 1, 2047 15.0 15.0 15.0 Northern Utilities: 6.95% Senior Notes, Due December 3, 2018 — 10.0 — 5.29% Senior Notes, Due March 2, 2020 8.2 16.6 16.6 3.52% Senior Notes, Due November 1, 2027 20.0 20.0 20.0 7.72% Senior Notes, Due December 3, 2038 50.0 50.0 50.0 4.42% Senior Notes, Due October 15, 2044 50.0 50.0 50.0 4.32% Senior Notes, Due November 1, 2047 30.0 30.0 30.0 Granite State: 7.15% Senior Notes, Due December 15, 2018 — 3.3 — 3.72% Senior Notes, Due November 1, 2027 15.0 15.0 15.0 Total Long-Term Debt 395.9 396.0 409.3 Less: Unamortized Debt Issuance Costs 3.3 3.2 3.5 Total Long-Term Debt, net of Unamortized Debt Issuance Costs 392.6 392.8 405.8 Less: Current Portion 19.5 29.7 18.4 Total Long-term Debt, Less Current Portion $ 373.1 $ 363.1 $ 387.4 Fair Value of Long-Term Debt ($ millions) June 30, December 31, 2019 2018 2018 Estimated Fair Value of Long-Term Debt $ 430.6 $ 420.5 $ 422.0 Credit Arrangements On July 25, 2018, the Company entered into a Second Amended and Restated Credit Agreement and related documents (collectively, the “Credit Facility”) with a syndicate of lenders, which amended and restated in its entirety the Company’s prior credit facility. The Credit Facility extends to July 25, 2023 The Company utilizes the Credit Facility for cash management purposes related to its short-term operating activities. Total gross borrowings were $131.4 million for the six months ended June 30, 2019. Total gross repayments were $149.4 million for the six months ended June 30, 2019. The following table details the borrowing limits, amounts outstanding and amounts available under the Credit Facility as of June 30 2019, June 30, 2018 and December 31, 2018: Revolving Credit Facility ($ millions) June 30, December 31, 2019 2018 2018 Limit $ 120.0 $ 120.0 $ 120.0 Short-Term Borrowings Outstanding $ 64.8 $ 37.4 $ 82.8 Available $ 55.2 $ 82.6 $ 37.2 The Credit Facility contains customary terms and conditions for credit facilities of this type, including affirmative and negative covenants. There are restrictions on, among other things, the Company’s and its subsidiaries’ ability to permit liens or incur indebtedness, and restrictions on the Company’s ability to merge or consolidate with another entity or change its line of business . (See also “Credit Arrangements” in Note .) The Company believes the future operating cash flows of the Company, along with its existing borrowing availability and access to financial markets for the issuance of new long-term debt, will be sufficient to meet any working capital and future operating requirements, and capital investment forecast opportunities. The average interest rates on all short-term borrowings and intercompany money pool transactions were 3.6 % and % %. As discussed previously, the Company divested of its non-regulated subsidiary business, Usource, in the first quarter of 2019. The Company used the net proceeds of $9.8 million from this divestiture for general corporate purposes. On November 30, 2018 Unitil Energy issued $30 million of First Mortgage Bonds due November 30, 2048 In April 2014, Unitil Service Corp. entered into a financing arrangement, structured as a capital lease obligation, for various information systems and technology equipment. Final funding under this capital lease occurred on October 30, 2015, resulting in total funding of $13.4 million. This capital lease was paid off in the second quarter of 2019. Unitil Corporation and its utility subsidiaries, Fitchburg, Unitil Energy, Northern Utilities, and Granite State are currently rated “BBB+” by Standard & Poor’s Ratings Services. Unitil Corporation and Granite State are currently rated “Baa2”, and Fitchburg, Unitil Energy and Northern Utilities are currently rated “Baa1” by Moody’s Investors Services. Northern Utilities enters into asset management agreements under which Northern Utilities releases certain natural gas pipeline and storage assets, resells the natural gas storage inventory to an asset manager and subsequently repurchases the inventory over the course of the natural gas heating season at the same price at which it sold the natural gas inventory to the asset manager. There was $5.0 million, $5.3 million and $8.4 million of natural gas storage inventory at June 30, 2019, June 30, 2018 and December 31, 2018, respectively, related to these asset management agreements. The amount of natural gas inventory released in June 2019 and payable in July 2019 is $0.1 million and is recorded in Accounts Payable at June 30, 2019. The amount of natural gas inventory released in June 2018 and payable in July 2018 was $0.1 million and was recorded in Accounts Payable at June 30, 2018. The amount of natural gas inventory released in December 2018 and payable in January 2019 was $0.9 million and was recorded in Accounts Payable at December 31, 2018. Guarantees The Company provides limited guarantees on certain energy and natural gas storage management contracts entered into by the distribution utilities. The Company’s policy is to limit the duration of these guarantees. As of June 30, 2019, there were approximately $4.3 million of guarantees outstanding . Leases Unitil’s subsidiaries lease some of their vehicles, machinery and office equipment under both capital and operating lease arrangements. Total rental expense under operating leases charged to operations for the three months ended June 30, 2019 and 2018 amounted to $0.3 million and $0.6 million, respectively. Total rental expense under operating leases charged to operations for the six months ended June 30, 2019 and 2018 amounted to $0.7 million and $1.1 million, respectively. The balance sheet classification of the Company’s lease obligations was as follows: June 30, December 31, Lease Obligations ($ millions) 2019 2018 2018 Operating Lease Obligations: Other Current Liabilities (current portion) $ 1.0 $ — $ — Other Noncurrent Liabilities (long-term portion) 2.6 — — Total Operating Lease Obligations $ 3.6 $ — $ — Capital Lease Obligations: Other Current Liabilities (current portion) 0.2 $ 3.1 $ 3.1 Other Noncurrent Liabilities (long-term portion) 0.2 4.1 2.7 Total Capital Lease Obligations 0.4 $ 7.2 $ 5.8 Total Lease Obligations 4.0 $ 7.2 $ 5.8 Cash paid for amounts included in the measurement of operating lease obligations for the six months ended June 30, 2019 was $0.7 million and was included in Cash Provided by Operating Activities on the Consolidated Statements of Cash Flows. Assets under capital leases amounted to approximately $1.5 million, $15.0 million and $15.0 million as of June 30, 2019, June 30, 2018 and December 31, 2018, respectively, less accumulated amortization of $1.0 million, $1.4 million and $1.7 million, respectively and are included in Net Utility Plant on the Company’s Consolidated Balance Sheets. The following table is a schedule of future operating lease payment obligations and future minimum lease payments under capital leases as of June 30, 2019. The payments for capital leases consist of $0.2 million of current capital lease obligations, which are included in Other Current Liabilities and $0.2 million of noncurrent capital lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of June 30, 2019. The payments for operating leases consist of $1.0 million of current operating lease obligations, which are included in Other Current Liabilities and $2.6 million of noncurrent operating lease obligations, which are included in Other Noncurrent Liabilities, on the Company’s Consolidated Balance Sheets as of June 30, 2019. Lease Payments ($000’s) Operating Capital Year Ending December 31, Leases Leases Rest of 2019 $ 634 $ 138 2020 1,153 198 2021 984 96 2022 703 33 2023 403 15 2024-2028 122 — Total Payments 3,999 480 Less: Interest 380 22 Amount of Lease Obligations Recorded on Consolidated Balance Sheets $ 3,619 $ $ 458 Operating lease obligations are based on the net present value of the remaining lease payments over the remaining lease term. In determining the present value of lease payments, the Company used the interest rate stated in each lease agreement. As of June 30, 2019, the weighted average remaining lease term is 3.7 years and the weighted average operating discount rate used to determine the operating lease obligations was 5.3%. Disclosures Related to Periods Prior to the Adoption of ASU NO. 2016-02 – Leases (See Note 1). The payment amounts in the following table, which are as of December 31, 2018, would not differ substantially from the payment amounts as of June 30, 2018. Lease Payments ($000’s) Operating Capital Year Ending December 31, Leases Leases 2019 $ 1,372 $ 3,069 2020 1,138 2,535 2021 969 93 2022 689 32 2023 390 14 2024-2028 120 — Total Payments $ 4,678 $ 5,743 |