Artesian Resources (ARTNA) 10-K 15 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Mar. 12, 2018	Jun. 30, 2017
Entity Information [Line Items]
Entity Registrant Name	Artesian Resources Corporation
Entity Central Index Key	863,110
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
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Class A Stock [Member]
Entity Information [Line Items]
Entity Public Float			$ 301,328,000
Entity Common Stock, Shares Outstanding		8,341,196
Class B Stock [Member]
Entity Information [Line Items]
Entity Public Float			$ 10,142,000
Entity Common Stock, Shares Outstanding		881,452

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Utility plant, at original cost (less accumulated depreciation 2017-$116,945; 2016-$109,684)	$ 460,502	$ 425,502
Current assets
Cash and cash equivalents	952	226
Accounts receivable (less allowance for doubtful accounts 2017 - $288; 2016 - $263)	8,897	7,796
Income tax receivable	2,353	150
Unbilled operating revenues	1,427	1,403
Materials and supplies	1,519	1,564
Prepaid property taxes	1,795	1,669
Prepaid expenses and other	2,042	1,827
Total current assets	18,985	14,635
Other assets
Non utility property (less accumulated depreciation 2017-$689; 2016-$611)	3,882	3,881
Other deferred assets	3,721	3,584
Total other assets	7,603	7,465
Regulatory assets, net	7,549	3,374
Total assets	494,639	450,976
Stockholders' equity
Common stock	9,215	9,127
Preferred stock	0	0
Additional paid-in capital	99,526	97,480
Retained earnings	37,903	32,416
Total stockholders' equity	146,644	139,023
Long-term debt, net of current portion	105,587	102,331
Total stockholders' equity and long-term debt	252,231	241,354
Current liabilities
Lines of credit	9,610	7,130
Current portion of long-term debt	1,344	1,316
Accounts payable	8,853	5,532
Accrued expenses	2,888	1,309
Overdraft payable	304	32
Accrued interest	1,805	1,000
Customer deposits	969	864
Other	2,688	2,145
Total current liabilities	28,461	19,328
Commitments and contingencies ( Note 10 )
Deferred credits and other liabilities
Net advances for construction	7,797	8,169
Regulatory liabilities	23,201	1,022
Deferred investment tax credits	526	544
Deferred income taxes	54,137	68,453
Total deferred credits and other liabilities	85,661	78,188
Net contributions in aid of construction	128,286	112,106
Liabilities and stockholders' equity	$ 494,639	$ 450,976

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Less - accumulated depreciation	$ 116,945	$ 109,684
Current assets
Less allowance for doubtful accounts	288	263
Other assets
Non utility property (accumulated depreciation)	$ 689	$ 611

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating revenues
Water sales	$ 73,058	$ 70,587	$ 68,932
Other utility operating revenue	4,177	3,816	3,694
Non-utility operating revenue	5,000	4,686	4,398
Total operating revenues	82,235	79,089	77,024
Operating expenses
Utility operating expenses	38,277	35,658	36,148
Non-utility operating expenses	2,777	2,602	2,305
Depreciation and amortization	9,555	9,188	8,837
State and federal income taxes (benefit) expense
Current	(929)	2,849	2,667
Deferred	8,224	5,482	5,117
Property and other taxes	4,731	4,491	4,368
Total operating expenses	62,635	60,270	59,442
Operating income	19,600	18,819	17,582
Other income, net
Allowance for funds used during construction (AFUDC)	334	222	249
Miscellaneous income	226	557	472
Total other income	560	779	721
Income before interest charges	20,160	19,598	18,303
Interest charges	6,177	6,644	6,998
Net income applicable to common stock	$ 13,983	$ 12,954	$ 11,305
Income per common share:
Basic (in dollars per share)	$ 1.52	$ 1.42	$ 1.26
Diluted (in dollars per share)	$ 1.51	$ 1.41	$ 1.26
Weighted average common shares outstanding:
Basic (in shares)	9,175	9,098	8,960
Diluted (in shares)	9,242	9,161	9,005
Cash dividends paid per share of common stock (in dollars per share)	$ 0.9269	$ 0.8997	$ 0.8733

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 13,983	$ 12,954	$ 11,305
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,555	9,188	8,837
Deferred income taxes, net	8,206	5,464	5,097
Stock compensation	423	92	183
AFUDC, equity portion	(227)	(146)	(163)
Changes in assets and liabilities:
Accounts receivable, net of allowance for doubtful accounts	(187)	(292)	(867)
Income taxes receivable	(2,203)	1,278	1,640
Unbilled operating revenues	(24)	132	1,779
Materials and supplies	45	149	177
Prepaid property taxes	(126)	(78)	(190)
Prepaid expenses and other	(215)	(209)	49
Other deferred assets	(172)	(175)	(167)
Regulatory assets	405	734	187
Regulatory liabilities	(37)	(81)	(38)
Accounts payable	3,321	618	1,131
Accrued expenses	1,579	55	(259)
Accrued interest	805	(32)	(396)
Customer deposits and other, net	648	128	102
NET CASH PROVIDED BY OPERATING ACTIVITIES	35,779	29,779	28,407
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures (net of AFUDC, equity portion)	(41,094)	(28,251)	(20,694)
Proceeds from sale of assets	87	96	48
NET CASH USED IN INVESTING ACTIVITIES	(41,007)	(28,155)	(20,646)
CASH FLOWS FROM FINANCING ACTIVITIES
Net (repayments) borrowings under lines of credit agreements	2,480	(3,357)	(8,004)
Increase in overdraft payable	272	(514)	405
Net advances and contributions in aid of construction	11,353	9,907	5,829
Net proceeds from issuance of common stock	1,711	1,826	3,049
Dividends paid	(8,496)	(8,180)	(7,811)
Debt issuance cost	(148)	0	0
Principal repayments of long-term debt	(1,218)	(1,289)	(1,263)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	5,954	(1,607)	(7,795)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	726	17	(34)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	226	209	243
CASH AND CASH EQUIVALENTS AT END OF YEAR	952	226	209
Supplemental Disclosures of Cash Flow Information:
Utility plant received as construction advances and contributions in aid of construction	5,662	2,499	1,451
Contractual amounts of contributions in aid of construction due from developers included in accounts receivable	2,910	1,542	796
Contractual amounts of contributions in aid of construction received from developers previously included in accounts receivable	1,995	388	377
Supplemental Disclosures of Cash Flow Information:
Interest paid	5,372	6,676	7,394
Income taxes paid	$ 1,281	$ 1,434	$ 2,608

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)		Common Stock [Member]Common Shares Class A Non-Voting [Member]		Common Stock [Member]Common Shares Class B Voting [Member]		Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2014		$ 8,030,000		$ 882,000		$ 92,545,000	$ 24,148,000	$ 125,605,000
Balance (in shares) at Dec. 31, 2014		8,030,000	[1],[2],[3]	882,000	[4]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							11,305,000	11,305,000
Cash dividends declared
Common stock							(7,811,000)	(7,811,000)
Issuance of common stock
Dividend reinvestment plan		$ 18,000				366,000		$ 384,000
Dividends reinvestment plan (in shares)		18,000	[1],[2],[3]					18,000
Employee stock options and awards		$ 111,000				2,419,000		$ 2,530,000
Employee stock options and awards (in shares)	[1],[2],[3]	111,000
Employee Retirement Plan	[1]	$ 17,000				301,000		318,000
Employee Retirement Plan (in shares)	[1],[2],[3]	17,000
Balance at Dec. 31, 2015		$ 8,176,000		$ 882,000		95,631,000	27,642,000	132,331,000
Balance (in shares) at Dec. 31, 2015		8,176,000	[1],[2],[3]	882,000	[4]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							12,954,000	12,954,000
Cash dividends declared
Common stock							(8,180,000)	(8,180,000)
Issuance of common stock
Dividend reinvestment plan		$ 13,000				387,000		$ 400,000
Dividends reinvestment plan (in shares)		13,000	[1],[2],[3]					13,000
Employee stock options and awards		$ 38,000				939,000		$ 977,000
Employee stock options and awards (in shares)	[1],[2],[3]	38,000
Employee Retirement Plan	[1]	$ 18,000				523,000		541,000
Employee Retirement Plan (in shares)	[1],[2],[3]	18,000
Balance at Dec. 31, 2016		$ 8,245,000		$ 882,000		97,480,000	32,416,000	139,023,000
Balance (in shares) at Dec. 31, 2016		8,245,000	[1],[2],[3]	882,000	[4]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income							13,983,000	13,983,000
Cash dividends declared
Common stock							(8,496,000)	(8,496,000)
Issuance of common stock
Dividend reinvestment plan		$ 11,000				378,000		$ 389,000
Dividends reinvestment plan (in shares)		11,000	[1],[2],[3]					11,000
Employee stock options and awards		$ 67,000				1,313,000		$ 1,380,000
Employee stock options and awards (in shares)	[1],[2],[3]	67,000
Employee Retirement Plan	[1]	$ 10,000				355,000		365,000
Employee Retirement Plan (in shares)	[1],[2],[3]	10,000
Balance at Dec. 31, 2017		$ 8,333,000		$ 882,000		$ 99,526,000	$ 37,903,000	$ 146,644,000
Balance (in shares) at Dec. 31, 2017		8,333,000	[1],[2],[3]	882,000	[4]
[1]	Artesian Resources Corporation registered 500,000 shares of Class A Common Stock available for purchase through the Artesian Retirement Plan and the Artesian Supplemental Retirement Plan.
[2]	At December 31, 2017, 2016, and 2015, Class A Common Stock had 15,000,000 shares authorized. For the same periods, shares issued, inclusive of treasury shares, were 8,362,431, 8,275,010 and 8,205,190, respectively.
[3]	Under the Equity Compensation Plan, effective December 9, 2015 Artesian Resources Corporation authorized up to 331,500 shares of Class A Common Stock for issuance of grants in forms of stock options, stock units, dividend equivalents and other stock-based awards, subject to adjustment in certain circumstances as discussed in the Plan. Includes stock compensation expense for the years ended December 31, 2017, 2016, and 2015, see Note 1-Stock Compensation Plans.
[4]	At December 31, 2017, 2016, and 2015, Class B Common Stock had 1,040,000 shares authorized and 882,000 shares issued.

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 09, 2015
Shares authorized for issuance of grants under equity compensation plan (in shares)				331,500
Common Stock [Member] | Common Shares Class A Non-Voting [Member]
Common stock, par value (in dollars per share)	$ 1
Common stock, shares authorized (in shares)	15,000,000	15,000,000	15,000,000
Common Stock Shares Issued (in shares)	8,362,431	8,275,010	8,205,190
Shares available for purchase through retirement plans (in shares)	500,000
Shares authorized for issuance of grants under equity compensation plan (in shares)				331,500
Common Stock [Member] | Common Shares Class B Voting [Member]
Common stock, par value (in dollars per share)	$ 1
Common stock, shares authorized (in shares)	1,040,000	1,040,000	1,040,000
Common Stock Shares Issued (in shares)	882,000	882,000	882,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The audited consolidated financial statements are presented in accordance with the requirements of Form 10-K and accounting principles generally accepted in the United States and consequently include all the disclosures required in the consolidated financial statements included in the Company's annual report on Form 10-K. The accompanying consolidated financial statements include the accounts of Artesian Resources Corporation and its subsidiaries and all intercompany balances and transactions between subsidiaries have been eliminated. Utility Subsidiary Accounting The accounting records of Artesian Water Company, Inc., or Artesian Water, and Artesian Wastewater Management, Inc., or Artesian Wastewater, are maintained in accordance with the uniform system of accounts as prescribed by the Delaware Public Service Commission, or the DEPSC. The accounting records of Artesian Water Pennsylvania, Inc., or Artesian Water Pennsylvania, are maintained in accordance with the uniform system of accounts as prescribed by the Pennsylvania Public Utility Commission, or the PAPUC. The accounting records of Artesian Water Maryland, Inc., or Artesian Water Maryland, and Artesian Wastewater Maryland, Inc., or Artesian Wastewater Maryland, are maintained in accordance with the uniform system of accounts as prescribed by the Maryland Public Service Commission, or the MDPSC. All five subsidiaries follow the provisions of FASB ASC Topic 980, which provides guidance for companies in regulated industries. These regulated subsidiaries account for the majority of our operating revenue. The operating revenues of our non-regulated division are presented in the Consolidated Statements of Operations. Utility Plant Utility plant is stated at original cost. Cost includes direct labor, materials, AFUDC (see description below) and indirect charges for such capitalized items as transportation, supervision, pension, medical, and other fringe benefits related to employees engaged in construction activities. When depreciable units of utility plant are retired, any cost associated with retirement, less any salvage value or proceeds received, is charged to the regulated retirement liability. Maintenance, repairs, and replacement of minor items of plant are charged to expense as incurred. In accordance with a rate order issued by the DEPSC, Artesian Water accrues an Allowance for Funds Used during Construction, or AFUDC. AFUDC, which represents the cost of funds devoted to construction projects through the date the project is placed in service, is capitalized as part of construction work in progress. The rate used for the AFUDC calculation is based on Artesian Water's weighted average cost of debt and the rate of return on equity authorized by the DEPSC. The rate used to capitalize AFUDC in 2017, 2016, and 2015 was 7.7%, 8.1%, and 8.1% respectively. Utility plant comprises In thousands December 31, Estimated Useful Life (In Years) 2017 2016 Utility plant at original cost Utility plant in service-Water Intangible plant — $ 140 $ 140 Source of supply plant 45-85 20,959 19,627 Pumping and water treatment plant 8-62 81,180 78,542 Transmission and distribution plant Mains 81 252,569 236,261 Services 39 42,232 38,803 Storage tanks 76 24,729 24,108 Meters 26 25,628 24,710 Hydrants 60 13,760 12,870 General plant 3-31 56,784 53,417 Utility plant in service-Wastewater Treatment and disposal plant 35-62 17,421 15,613 Collection mains & lift stations 81 13,692 8,675 General plant 3-31 1,006 931 Property held for future use — 14,647 14,815 Construction work in progress — 12,700 6,674 577,447 535,186 Less – accumulated depreciation 116,945 109,684 $ 460,502 $ 425,502 Depreciation and Amortization For financial reporting purposes, depreciation is recorded using the straight-line method at rates based on estimated economic useful lives, which range from 3 to 85 years. Composite depreciation rates for water utility plant were 2.27%, 2.25% and 2.29% for 2017, 2016 and 2015, respectively. In a rate order issued by the DEPSC, the Company was directed effective January 1, 1998 to begin using revised depreciation rates for utility plant. In rate orders issued by the DEPSC, Artesian Water was directed, effective May 28, 1991 and August 25, 1992, to offset depreciation recorded on utility plant by depreciation on utility property funded by Contributions in Aid of Construction, or CIAC, and Advances for Construction, or Advances, respectively. This reduction in depreciation expense is also applied to outstanding CIAC and Advances. Other deferred assets are amortized using the straight-line method over applicable lives, which range from 20 to 24 years. Regulatory Assets The Financial Accounting Standards Board, or FASB, ASC Topic 980 stipulates generally accepted accounting principles for companies whose rates are established or subject to approvals by a third-party regulatory agency. Certain expenses are recoverable through rates charged to our customers, without a return on investment, and are deferred and amortized during future periods using various methods as permitted by the Delaware Public Service Commission, or DEPSC, the Maryland Public Service Commission, or MDPSC, and the Pennsylvania Public Utility Commission, or PAPUC. The postretirement benefit obligation is the recognition of an offsetting regulatory liability as it relates to the accrual of the expected cost of providing postretirement health care and life insurance benefits to retired employees when they render the services necessary to earn the benefits. Artesian Water contributed $37,000 to its postretirement benefit plan in 2017. These co The deferred income taxes will be amortized over future years as the tax effects of temporary differences that previously flowed through to our customers are reversed. Debt related costs include debt issuance costs and other debt related expense. The DEPSC has allowed rate recovery on unamortized issuance costs and make-whole premiums associated with the early retirement of Series O and Q First Mortgage bonds as the replacement of that debt in January 2017 with Series T First Mortgage bonds was deemed more favorable for the ratepayers. The DEPSC has also allowed rate recovery on issuance costs associated with the Series U First Mortgage bond purchase in January 2018 that paid the full indebtedness of the Series P First Mortgage bond. These amounts are recovered over the term of the new long-term debt issued. Regulatory expenses amortized on a straight-line basis are noted below: Expense Years Amortized Depreciation and salary studies 5 Delaware rate proceedings 2.5 Maryland rate proceedings 5 Debt related costs 15 to 25 (based on term of related debt) Goodwill (resulting from acquisition of Mountain Hill Water Company in 2008) 50 Deferred acquisition costs (resulting from purchase of water assets in Cecil County, Maryland in 2011 and Port Deposit, Maryland in 2010) 20 Franchise Costs (resulting from purchase of water assets in Cecil County, Maryland in 2011) 80 Regulatory assets, net of amortization, comprise: (in thousands) December 31, 2017 December 31, 2016 Postretirement benefit obligation $ 149 $ 186 Deferred income taxes 416 431 Expense of rate and regulatory proceedings 70 116 Debt issuance costs 5,965 1,648 Goodwill 303 310 Deferred acquisition and franchise costs 646 683 $ 7,549 $ 3,374 Impairment or Disposal of Long-Lived Assets Our long-lived assets consist primarily of utility plant in service and regulatory assets. A review of our long-lived assets is performed in accordance with the requirements of FASB ASC Topic 360. In addition, the regulatory assets are reviewed for the continued application of FASB ASC Topic 980. The review determines whether there have been changes in circumstances or events that have occurred requiring adjustments to the carrying value of these assets. FASB ASC Topic 980 stipulates that adjustments to the carrying value of these assets would be made in instances where the inclusion in the rate-making process is unlikely. Other Deferred Assets The investment in Co-Bank, which is a cooperative bank, is related to certain outstanding First Mortgage Bonds and is a required investment in the bank based on the underlying long term debt agreements. A large portion of the remaining other deferred assets, approximately $0.3 million, is in relation to the Mountain Hill acquisition. Other deferred assets at December 31, net of amortization, comprise: In thousands 2017 2016 Investment in CoBank $ 3,358 $ 3,198 Other 363 386 $ 3,721 $ 3,584 Advances for Construction Cash advances to reimburse Artesian Water for its costs to construct water mains, services and hydrants are contributed to Artesian Water by real estate developers and builders in order to extend water service to their properties. The Company only accepts advances related to new phases of existing developments that are grandfathered into the refundable arrangement through pre-existing contracts. The value of these contributions is recorded as Advances for Construction. Artesian Water makes refunds on these advances over a specific period of time based on operating revenues generated by the specific plant or as new customers are connected to the mains. After all refunds are made within the contract period, any remaining balance is transferred to CIAC. Contributions in Aid of Construction CIAC includes the non-refundable portion of advances for construction and direct contributions of water mains, services and hydrants, and wastewater treatment facilities and collection systems, or cash to reimburse our water and wastewater divisions for costs to construct water mains, services and hydrants, and wastewater treatment and disposal plant. Regulatory Liabilities The Financial Accounting Standards Board, or FASB, ASC Topic 980 stipulates generally accepted accounting principles for companies whose rates are established or subject to approvals by a third-party regulatory agency. Certain obligations are deferred and/or amortized as determined by the Delaware Public Service Commission, or DEPSC, the Maryland Public Service Commission, or MDPSC, and the Pennsylvania Public Utility Commission, or PAPUC. Regulatory liabilities represent excess recovery of cost or other items that have been deferred because it is probable such amounts will be returned to customers through future regulated rates. The postretirement benefit obligation is the recognition of an offsetting regulatory asset as it relates to the accrual of the expected cost of providing postretirement health care and life insurance benefits to retired employees when they render the services necessary to earn the benefits. Artesian Water contributed $37,000 to its postretirement benefit plan in 2017. These contributions consist of insurance premium payments for medical, dental and life insurance benefits made on behalf of the Company's eligible retired employees. Utility plant retirement cost obligation consists of estimated costs related to the potential removal and replacement of facilities and equipment on the Company's water and wastewater properties. Effective January 1, 2012, as authorized by the DEPSC, when depreciable units of utility plant are retired, any cost associated with retirement, less any salvage value or proceeds received is charged to a regulated retirement liability. Each year the liability is increased by an annual amount authorized by the DEPSC. Pursuant to the enactment of the Tax Cuts and Jobs Act (TCJA) on December 22, 2017, the Company adjusted its existing deferred income tax balances as of December 31, 2017 to reflect the decrease in the corporate income tax rate from 34% to 21% (see Note 3). This resulted in a decrease in the net deferred income tax liability of approximately $23.5 million of which $22.5 million was reclassed to a regulatory liability. These amounts are subject to certain Internal Revenue Service normalization rules that require the benefits to customers be spread over the remaining useful life of the underlying assets giving rise to the associated deferred income taxes. The amount and timing of potential settlements of the established net regulatory liabilities will be determined by the utilities' respective rate regulators.. Regulatory liabilities comprise: (in thousands) December 31, 2017 December 31, 2016 Postretirement benefit obligation $ 112 $ 149 Utility plant retirement cost obligation 549 873 Deferred income taxes (related to TCJA) 22,540 - $ 23,201 $ 1,022 Income Taxes The TCJA makes many significant changes to the Internal Revenue Code, including, but not limited to (1) reducing the federal corporate tax rate to a flat 21%; (2) creating a 30% limitation on deductible interest expense (not applicable to regulated utilities); (3) the loss of future bonus depreciation deductions on utility plant capital projects that began after September 27, 2017; (4) eliminating the domestic production activities deduction; (5) eliminating the corporate alternative minimum tax and changing how existing alternative minimum tax credits can be realized; (6) changing the rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017 and (7) repealing the exclusion from gross income contributions in aid of construction (CIAC) for water utilities. The most significant change that impacts Artesian Resources is the reduction of the corporate federal income tax rate from our previous effect rate of 34% to the new flat tax rate of 21% beginning January 1, 2018. The SEC Staff issued Accounting Bulletin No. 118, Income Tax Accounting of the Tax Cuts and Jobs Act, which provides guidance to address situations where a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the TCJA in the period in which the TCJA was enacted. Under the guidance, registrants can report the effects of the TCJA as provisional amounts based on reasonable estimates in those areas in which the accounting is incomplete. The provisional amounts are subject to adjustment during a measurement period that can extend no longer than one year from the enactment date. The Company made reasonable estimates in measuring and accounting for the effects of the TCJA, which are reflected in the December 31, 2017 financial statements, however, these estimates could change based on further analysis of the TCJA or further regulatory rulings from the Company's various Public Service Commissions. Deferred income taxes are provided in accordance with FASB ASC Topic 740 on all differences between the tax basis of assets and liabilities and the amounts at which they are carried in the consolidated financial statements based on the enacted tax rates expected to be in effect when such temporary differences are expected to reverse. The Company's rate regulated utilities recognize regulatory liabilities, to the extent considered in ratemaking, for deferred taxes provided in excess of the current statutory tax rate and regulatory assets for deferred taxes provided at rates less than the current statutory rate. Such tax-related regulatory assets and liabilities are reported at the revenue requirement level and amortized to income as the related temporary differences reverse, generally over the lives of the related properties. Under FASB ASC Topic 740, an uncertain tax position represents our expected treatment of a tax position taken, or planned to be taken in the future, that has not been reflected in measuring income tax expense for financial reporting purposes. he Company remains subject to examination by federal authorities for the tax years 2015 through 2017 and state authorities for the tax years 2014 through 2017. The Company was under federal audit by the Internal Revenue Service for tax years 2012 through 2014 during 2016. The audit concluded in 2016 resulting in no change to the tax liability. The Tax Reform Act of 1986 mandated that Advances and CIAC received subsequent to December 31, 1986, generally are taxable income. The 1996 Tax Act provided an exclusion from taxable income for CIAC and Advances received after June 12, 1996 except for certain contributions for large services that are not included in rate base for rate-making purposes. On December 22, 2017, the TCJA repealed the 1996 exclusion from gross income effect on the enactment date. Investment tax credits were deferred through 1986 and are recognized as a reduction of deferred income tax expense over the estimated economic useful lives of the related assets. Stock Compensation Plans On December 9, 2015, the Company's stockholders approved the 2015 Equity Compensation Plan, or the 2015 Plan. The 2015 Plan replaced the 2005 Equity Compensation Plan, or the 2005 Plan, which expired on May 24, 2015. The 2015 Plan authorizes an aggregate number of shares of our Class A common stock that may be issued or transferred under the Plan equal to the sum of: 331,500 shares, plus the number of shares of Class A common stock subject to outstanding grants under the 2005 Plan as of December 9, 2015 that terminate, expire or are cancelled, forfeited, exchanged or surrendered without having been exercised, vested or paid under the 2005 Plan. The Company accounts for stock options issued after January 1, 2006 under FASB ASC Topic 718. Compensation costs for restricted stock grants and options were $423,000, $92,000 and $183,000 in 2017, 2016 and 2015, respectively. Cost for options and restricted stock grants were determined based on the fair value at the grant dates and those costs were charged to income over the associated service periods. The $183,000 in 2015 was the amount amortized for restricted stock awarded in 2015 and stock options awarded in 2014. The $92,000 in 2016 was the amount amortized for restricted stock awarded in 2016. The $423,000 was the amount amortized for restricted and unrestricted stock awarded in 2016 and 2017. As of December 31, 2017 there is $64,000 unrecognized expense related to non-vested awards of restricted shares granted under the 2015 Plan. There was no stock compensation cost capitalized as part of an asset. Stock Options No options were granted in 2015, 2016 or 2017. Shares of Class A Stock have been reserved for future issuance under the 2015 Equity Compensation Plan. Stock Awards On June 28, 2017, 6,568 shares of Class A common stock, or Class A Stock, were issued as fully vested unrestricted stock awards. The fair market value per share was $38.06, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on June 28, 2017. A total of $250,000 was recorded as compensation cost for the stock awards granted in June 2017. On May 3, 2017, 5,000 shares of Class A Stock were granted as restricted stock awards. The fair value per share was $38.10, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on May 3, 2017. The restricted shares are subject to a one-year vesting period from the date of grant. Prior to their release date, these restricted stock awards may be subject to forfeiture in the event of the recipient's termination of service. $127,000 has been amortized and recorded as expense in 2017 for the stock awards granted in May 2017. On May 4, 2016, 5,000 shares of Class A common stock were granted as restricted stock awards. The fair market value per share was $27.70, the closing price of the Class A common stock as recorded on the Nasdaq Global Market on May 4, 2016. The restricted shares vested one year from the date of grant. A total of $92,000 and $47,000 in 2016 and 2017, respectively, was recorded as compensation cost for the awards granted in May 2016. Revenue Recognition and Unbilled Revenues Water service revenue for financial statement purposes includes amounts billed to Delaware customers on a monthly basis, amounts billed to Maryland customers on a quarterly or monthly cycle basis, depending on water system, and amounts billed to Pennsylvania customers on a quarterly basis. Water service revenues also include unbilled amounts based upon estimated usage from the date of the last meter reading to the end of the accounting period. As actual usage amounts are received, adjustments are made to the unbilled estimates in the next billing cycle based on an accrual basis. Other utility operating revenue includes wastewater service revenue derived from monthly fixed fees billed to customers, and is recognized on an accrual basis. Non-utility operating revenue is primarily derived from Service Line Protection Plans and from the design, construction and operation of contract water and wastewater projects. The Company recognizes non-utility operating revenue ratably over the service period with markup for overhead and profit. The Company records contract monthly fees for non-utility operating revenue when billed to the customer. Service line protection plan revenues are recognized on an accrual basis. Accounts Receivable Accounts receivable are recorded at the invoiced amounts. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in our existing accounts receivable. The Company reviews the allowance for doubtful accounts on a quarterly basis. Account balances are written off against the allowance when it is probable the receivable will not be recovered. The allowance for doubtful accounts was $0.3 million at December 31, 2017 and December 31, 2016. The corresponding expense for each of the years ended December 31, 2017 and 2016 was $0.2 million. The following table summarizes the changes in the Company's accounts receivable balance: December 31, In thousands 2017 2016 2015 Customer accounts receivable – water $ 5,487 $ 5,437 $ 5,017 Contractual amounts due from developers and other 3,698 2,622 1,610 9,185 8,059 6,627 Less allowance for doubtful accounts 288 263 277 Net accounts receivable $ 8,897 $ 7,796 $ 6,350 The activities in the allowance for doubtful accounts are as follows: December 31, In thousands 2017 2016 2015 Beginning balance $ 263 $ 277 $ 250 Allowance adjustments 215 195 205 Recoveries 41 64 53 Write off of uncollectible accounts (231 ) (273 ) (231 ) Ending balance $ 288 $ 263 $ 277 Cash and Cash Equivalents For purposes of the Consolidated Statement of Cash Flows, Artesian Resources considers all temporary cash investments with an original maturity of three months or less to be cash equivalents.Artesian Resources and its subsidiaries utilize their bank's zero balance account disbursement service to reduce the use of their lines of credit by funding checks as they are presented to the bank for payment rather than at issuance. If the checks currently outstanding, but not yet funded, exceed the cash balance on our books, the net liability is recorded as a current liability on the Consolidated Balance Sheet in the Overdraft Payable account. Use of Estimates in the Preparation of Consolidated Financial Statements The consolidated financial statements were prepared in conformity with generally accepted accounting principles in the U.S., which require management to make estimates about the reported amounts of assets and liabilities including unbilled revenues, reserve for a portion of revenues received under temporary rates and regulatory asset recovery and contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from management's estimate.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 2 FAIR VALUE OF FINANCIAL INSTRUMENTS The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value. Current Assets and Liabilities For those current assets and liabilities that are considered financial instruments, the carrying amounts approximate fair value because of the short maturity of those instruments. Long-term Financial Liabilities All of Artesian Resources' outstanding long-term debt as of December 31, 2017 and December 31, 2016 was fixed-rate. The fair value of the Company's long-term debt is determined by discounting their future cash flows using current market interest rates on similar instruments with comparable maturities consistent with FASB ASC 825. Under the fair value hierarchy, the fair value of the long-term debt in the table below is classified as Level 2 measurements. Level 2 is valued using observable inputs other than quoted prices. The fair values for long-term debt differ from the carrying values primarily due to interest rates that differ from the current market interest rates. The carrying amount and fair value of Artesian Resources' long-term debt are shown below: In thousands December 31, 2017 2016 Carrying amount $ 106,931 $ 103,647 Estimated fair value 110,524 111,864 The fair value of Advances for Construction cannot be reasonably estimated due to the inability to estimate accurately the timing and amounts of future refunds expected to be paid over the life of the contracts. Refund payments are based on the water sales to new customers in the particular development constructed. The fair value of Advances for Construction would be less than the carrying amount because these financial instruments are non-interest bearing.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 3 INCOME TAXES Deferred income taxes reflect temporary differences between the valuation of assets and liabilities for financial and tax reporting. Pursuant to the enactment of the TCJA, the Company adjusted its existing deferred income tax balances as of December 31, 2017 to reflect the decrease in the corporate income tax rate from 34% to 21%, which resulted in a decrease in the net deferred income tax liability of approximately $23.5 million. Artesian Resources recorded a net benefit to continuing operations of approximately $1.0 million, while the regulated utility subsidiaries recorded a regulatory liability related to deferred income taxes to be passed through to customers in the form of reduced tariff rates or approved DSIC rate (see Note 1) in the amount of approximately $22.5 million. The amount and timing of potential settlements of the established net regulatory liabilities will be determined by the utilities' respective rate regulators, subject to certain Internal Revenue Service normalization rules. The normalization rules require that the benefits to customers be spread over the remaining useful life of the underlying assets giving rise to the associated deferred income taxes. At December 31, 2017, for federal income tax purposes, there were alternative minimum tax credit carry-forwards aggregating $1.8 million resulting from the payment of alternative minimum tax in prior years. Effective January 1, 2018, these alternative minimum tax credit carry-forwards are available for refund. The Company has reclassified all of its AMT credits into the current tax receivable as of December 31, 2017 since they are expected to be utilized in 2018. As of December 31, 2017, Artesian Resources had fully utilized all of its federal net operating loss carrybacks and carry-forwards. As of December 31, 2017, Artesian Resources has separate company state net operating loss carry-forwards aggregating approximately $15.4 million. These net operating loss carry-forwards will expire if unused between 2019 and 2038 . Components of Income Tax Expense In thousands For the Year Ended December 31, State income taxes 2017 2016 2015 Current $ 489 $ 1,050 $ 499 Deferred 1,368 860 1,299 Total state income tax expense $ 1,857 $ 1,910 $ 1,798 For the Year Ended December 31, Federal income taxes 2017 2016 2015 Current $ (1,418 ) $ 1,799 $ 2,168 Deferred 6,856 4,622 3,818 Total federal income tax expense $ 5,438 $ 6,421 $ 5,986 Reconciliation of effective tax rate: For the Year Ended December 31, In thousands 2017 2017 2016 2016 2015 2015 Amount Percent Amount Percent Amount Percent Reconciliation of effective tax rate Income before federal and state income taxes $ 21,278 100.0 % $ 21,285 100.0 % $ 19,088 100.0 % Amount computed at statutory rate 7,234 34.0 % 7,237 34.0 % 6,490 34.0 % Reconciling items State income tax-net of federal tax benefit 1,297 6.1 % 1,327 6.2 % 1,214 6.4 % Federal rate change (957 ) (4.5 %) -- -- -- -- Other (279 ) (1.3 )% (233 ) (1.1 )% 80 0.4 % Total income tax expense and effective rate $ 7,295 34.3 % $ 8,331 39.1 % $ 7,784 40.8 % Deferred income taxes at December 31, 2017, 2016, and 2015 were comprised of the following: For the Year Ended December 31, In thousands 2017 2016 2015 Deferred tax assets related to: Federal alternative minimum tax credit carry-forwards $ - $ 2,474 $ 3,971 Federal and state operating loss carry-forwards 1,094 752 675 Bad debt allowance 80 104 110 Valuation allowance (360 ) (286 ) (182 ) Stock options 207 452 415 Other 161 320 291 Total deferred tax assets $ 1,182 $ 3,816 $ 5,280 Deferred tax liabilities related to: Property plant and equipment basis differences $ (52,629 ) $ (70,711 ) $ (66,508 ) Bond retirement costs (1,437 ) 0 0 Uncertain tax position (145 ) (80 ) (247 ) Expenses of rate proceedings (8 ) (19 ) (213 ) Property taxes (500 ) (663 ) (527 ) Other (600 ) (796 ) (756 ) Total deferred tax liabilities $ (55,319 ) $ (72,269 ) $ (68,251 ) Net deferred tax liability $ (54,137 ) $ (68,453 ) $ (62,971 ) Schedule of Valuation Allowance Balance at Beginning of Period Additions Charged to Costs and Expenses Deductions Balance at End of Period In thousands Classification For the Year Ended December 31, 2017 Valuation allowance for deferred tax assets $ 286 $ 74 — $ 360 For the Year Ended December 31, 2016 Valuation allowance for deferred tax assets $ 182 $ 104 — $ 286 For the Year Ended December 31, 2015 Valuation allowance for deferred tax assets $ 65 $ 117 — $ 182 Under FASB ASC Topic 740, the Company established two reserves for uncertain tax positions based upon management's judgment as to the sustainability of these positions. In 2014, the Company changed its tax method of accounting for qualifying utility system repairs effective with the tax year ended December 31, 2014 and for prior tax years. The tax accounting method was changed to permit the expensing of qualifying utility asset improvement costs that were previously being capitalized and depreciated for book and tax purposes. The Company will recognize a tax deduction on its 2017 Federal tax return when filed of $4.5 million for qualifying capital expenditures made during the year. In December 2015, the Company was notified by the IRS that its Federal tax filing for 2014 would be reviewed along with the effects of the net operating loss generated in 2014 and carryback to the 2012 and 2013 tax years. This review, which began in the first quarter of 2016 and was completed in the second quarter of 2016, resulted in no change to the tax liability. Since the Company had previously recorded a provision for the possible disallowance of a portion of the repair deduction in prior periods, the completion of the audit resulted in the reversal of the reserve, including interest and penalties, in the amount of approximately $201,000. While the Company maintains the belief that the deduction taken on its tax return is appropriate, the methodology for determining the deduction has not been agreed to by the tax authorities. Therefore, as required by FASB ASC 740, the Company reserved an additional liability related to a portion of the repair deduction for 2017. Additionally, the Company reserved a liability related to the difference in the tax depreciation utilizing the half-year convention rather than the mid-quarter convention. The following table provides the changes in the Company's uncertain tax position: For the years ended December 31, In thousands 2017 2016 Balance at beginning of year $ 80 $ 247 Additions based on tax positions related to the current year 118 23 Additions based on tax positions related to prior years 8 11 Reductions for tax positions of prior years - (201 ) Settlements - - Federal tax rate change (61 ) Lapses in Statutes of Limitations - - Balance at end of year $ 145 $ 80

PREFERRED STOCK

PREFERRED STOCK	12 Months Ended
	Dec. 31, 2017
PREFERRED STOCK [Abstract]
PREFERRED STOCK	NOTE 4 PREFERRED STOCK As of December 31, 2017 and 2016, Artesian Resources had no preferred stock outstanding. Artesian Resources has 100,000 shares of $1.00 par value Series Preferred stock authorized but unissued.

COMMON STOCK AND ADDITIONAL PAI

COMMON STOCK AND ADDITIONAL PAID-IN CAPITAL	12 Months Ended
	Dec. 31, 2017
COMMON STOCK AND ADDITIONAL PAID-IN CAPITAL [Abstract]
COMMON STOCK AND ADDITIONAL PAID-IN CAPITAL	NOTE 5 COMMON STOCK AND ADDITIONAL PAID-IN CAPITAL The Class A Non-Voting Common Stock, or Class A Stock, of Artesian Resources trades on the NASDAQ Global Select Market under the symbol ARTNA. The Class B Common Stock, or Class B Stock, of Artesian Resources trades on the NASDAQ's OTC Bulletin Board under the symbol ARTNB. The rights of the holders of the Class A Stock and the Class B Stock are identical, except with respect to voting. Under Artesian Resources' dividend reinvestment plan, which allows for reinvestment of cash dividends and optional cash payments, stockholders were issued approximately 11,000, 13,000 and 18,000 shares at fair market value for the investment of $389,000, $400,000, and $384,000 of their monies in the years 2017, 2016, and 2015, respectively.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2017
DEBT [Abstract]
DEBT	NOTE 6 DEBT At December 31, 2017, Artesian Resources had a $40 million line of credit with Citizens Bank, or Citizens, which is available to all subsidiaries of Artesian Resources. As of December 31, 2017, there was $35.9 million of available funds under this line of credit. The interest rate for borrowings under this line is the London Interbank Offered Rate, or LIBOR, plus 1.00%. This is a demand line of credit and therefore the financial institution may demand payment for any outstanding amounts at any time. The term of this line of credit expires on the earlier of May 25, 2018 or any date on which Citizens demands payment. The Company expects to renew this line of credit. At December 31, 2017, Artesian Water had a $20 million line of credit with CoBank, ACB, or CoBank, that allows for the financing of operations for Artesian Water, with up to $10 million of this line available for the operations of Artesian Water Maryland. As of December 31, 2017, there was $14.5 million of available funds under this line of credit. The interest rate for borrowings under this line is LIBOR plus 1.50%. CoBank may make an annual patronage refund, which has been equal to 1.00% of the average line of credit and loan volume outstanding by Artesian. The patronage refunds earned by Artesian in 2017 and 2016 were $0.6 million and $0.7 million, respectively. The term of this line of credit expires on July 20, 2018. The Company expects to renew this line of credit. On The The weighted average interest rate on the lines of credit above paid by the Company was 2.28% for the year ended December 31, 2017. These lines of credit, as well as both the long-term debt and the state revolving fund loans shown below, require us to abide by certain financial covenants and ratios. As of December 31, 2017, we were in compliance with these covenants. Long-term debt consists of: December 31, In thousands 2017 2016 First mortgage bonds Series O, 8.17%, due December 29, 2020 $ - $ 20,000 Series P, 6.58%, due January 31, 2018 25,000 25,000 Series Q, 4.75%, due December 1, 2043 - 15,400 Series R, 5.96%, due December 31, 2028 25,000 25,000 Series S, 4.45%, due December 31, 2033 9,600 10,200 Series T, 4.24%, due December 20, 2036 40,000 - 99,600 95,600 State revolving fund loans 4.48%, due August 1, 2021 1,190 1,456 3.57%, due September 1, 2023 558 640 3.64%, due May 1, 2025 1,025 1,142 3.41%, due February 1, 2031 2,315 2,448 3.40%, due July 1, 2032 2,243 2,361 7,331 8,047 Sub-total 106,931 103,647 Less: current maturities (principal amount) 1,344 1,316 Total long-term debt $ 105,587 $ 102,331 Payments of principal amounts due during the next five years and thereafter: In thousands 2018 2019 2020 2021 2022 Thereafter First Mortgage bonds $ 600 $ 600 $ 600 $ 600 $ 600 $ 96,600 State revolving fund loans 744 771 801 832 533 3,651 Total payments $ 1,344 $ 1,371 $ 1,401 $ 1,432 $ 1,133 $ 100,251 The table above is reflective of the purchase of the $25 million principal amount First Mortgage Bond, Series U, or the Bond, due January 31, 2038, which was completed in January 2018. The proceeds from the sale of the Bond were used to pay in full at maturity indebtedness of the Company under First Mortgage Bond, Series P (see Note 18).

NON-UTILITY OPERATING REVENUE A

NON-UTILITY OPERATING REVENUE AND EXPENSES	12 Months Ended
	Dec. 31, 2017
NON UTILITY OPERATING REVENUE AND EXPENSES [Abstract]
NON-UTILITY OPERATING REVENUE AND EXPENSES	NOTE 7 NON-UTILITY OPERATING REVENUE AND EXPENSES Non-utility operating revenue consisted of $5.0 million, $4.7 million, and $4.4 million recognized by Artesian Utility in 2017, 2016 and 2015, respectively. Non-utility operating expenses consisted of $2.8 million, $2.6 million and $2.3 million primarily recognized by Artesian Utility in 2017, 2016 and 2015, respectively. Artesian Utility operates the water, wastewater and internal Service Line Protection Plans, or SLP Plans, and provides contract water and wastewater services. The SLP Plans provide coverage for all material and labor required to repair or replace participants' leaking water service, clogged sewer lines or water and wastewater lines within the residence up to an annual limit.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2017
STOCK COMPENSATION PLANS [Abstract]
STOCK COMPENSATION PLANS	NOTE 8 STOCK COMPENSATION PLANS On December 9, 2015, the Company's stockholders approved the 2015 Equity Compensation Plan, or the 2015 Plan, that replaced the 2005 Equity Compensation Plan, or the 2005 Plan, which expired on May 24, 2015. The 2015 Plan provides that grants may be in any of the following forms: incentive stock options, nonqualified stock options, stock units, stock awards, dividend equivalents and other stock-based awards. The 2015 Plan is administered and interpreted by the Compensation Committee of the Board of Directors, or the Committee. The Committee has the authority to determine the individuals to whom grants will be made under the 2015 Plan, determine the type, size and terms of the grants, determine the time when grants will be made and the duration of any applicable exercise or restriction period (subject to the limitations of the 2015 Plan) and deal with any other matters arising under the 2015 Plan. The Committee presently consists of three directors, each of whom is a non-employee director of the Company. All of the employees of the Company and its subsidiaries are eligible for grants under the 2015 Plan. Non-employee directors of the Company are also eligible to receive grants under the 2015 Plan. The following summary reflects changes in the shares of Class A Stock under option: 2017 Shares 2017 Weighted Average Exercise Price 2016 Shares 2016 Weighted Average Exercise Price 2015 Shares 2015 Weighted Average Exercise Price Plan options Outstanding at beginning of year 231,755 $ 19.32 270,000 $ 19.34 376,250 $ 19.52 Granted — — - - - - Exercised (54,953 ) 17.42 (38,245 ) 19.50 (106,250 ) 19.97 Expired — — — — — — Outstanding at end of year 176,802 $ 19.91 231,755 $ 19.32 270,000 $ 19.34 Options exercisable at year end 176,802 $ 19.91 231,755 $ 19.32 270,000 $ 19.34 The total intrinsic value of options exercised during 2017, 2016 and 2015 were $1,198,000, $351,000 and $379,000, respectively. During 2017, we received $957,000 in cash from the exercise of options, with a $1,400,000 tax benefit realized for those options. The following tables summarize information about employee and director stock options outstanding at December 31, 2017: Options Outstanding Range of Exercise Price Shares Outstanding at December 31, 2017 Weighted Average Remaining Life Weighted Average Exercise Price Aggregate Intrinsic Value $ 15.26 - $18.61 41,802 1.99 Years $ 17.52 $ 879,409 $ 18.62 - $22.66 135,000 4.86 Years $ 20.64 $ 2,418,187 Options Exercisable Range of Exercise Price Shares Exercisable at December 31, 2017 Weighted Average Remaining Life Weighted Average Exercise Price Aggregate Intrinsic Value $ 15.26 - $18.61 41,802 1.99 Years $ 17.52 $ 879,409 $ 18.62 - $22.66 135,000 4.86 Years $ 20.64 $ 2,418,187 As of December 31, 2017, there was no unrecognized expense related to non-vested option shares granted under the Plan. The following summary reflects changes in the shares of Class A Stock Restricted Stock Awards (RSA): 2017 Shares 2017 Weighted Average Grant Date Fair Value 2016 Shares 2016 Weighted Average Grant Date Fair Value 2015 Shares 2015 Weighted Average Exercise Price Plan RSA's Outstanding at beginning of year 5,000 $ 27.70 - $ - - $ - Granted 11,568 38.08 5,000 27.70 5,000 27.38 Vested/Released (11,568 ) 33.58 - - (5,000 ) 27.38 Cancelled - - - - - - Unvested Outstanding at end of year 5,000 $ 38.10 5,000 $ 27.70 - $ - On June 28, 2017, 6,568 shares of Class A common stock were issued as fully vested restricted stock awards. The fair market value per share was $38.06, the closing price of the Class A common stock as recorded on the Nasdaq Global Market on June 28, 2017. On May 3, 2017, 5,000 shares of Class A common stock, or Class A Stock, were granted as restricted stock awards. The fair value per share was $38.10, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on May 3, 2017. The restricted shares are subject to a one year vesting period from the date of grant. Prior to their release date, these restricted stock awards may be subject to forfeiture in the event of the recipient's termination of service. On May 4, 2016, 5,000 shares of Class A common stock were granted as restricted stock awards. The fair market value per share was $27.70, the closing price of the Class A common stock as recorded on the Nasdaq Global Market on May 4, 2016. The restricted shares vest one year from the date of grant. On December 18, 2015, 5,000 shares of Class A common stock were issued as fully vested unrestricted stock awards. The fair market value per share was $27.38, the closing price of the Class A common stock as recorded on the Nasdaq Global Market on December 18, 2015. As of December 31, 2017, there was $63,700 total unrecognized expense related to non-vested awards of restricted shares awarded under the 2015 Plan. The cost will be recognized over 0.33 years, the remaining vesting period for the restricted stock awards. The total intrinsic value of awards released during 2017 was approximately $441,000.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2017
EMPLOYEE BENEFIT PLANS [Abstract]
EMPLOYEE BENEFIT PLANS	NOTE 9 EMPLOYEE BENEFIT PLANS 401(k) Plan Artesian Resources has a defined contribution 401(k) Salary Deduction Plan, or the 401(k) Plan, which covers substantially all employees. Under the terms of the 401(k) Plan, Artesian Resources contributed 2% of eligible salaries and wages and matched employee contributions up to 6% of gross pay at a rate of 50%. Artesian Resources may, at its option, make additional contributions of up to 3% of eligible salaries and wages. In 2017 and 2015, an additional 1% of eligible salaries and wages was contributed under 401(k) Plan. No such additional contributions were made in 2016. Supplemental Pension Plan Effective October 1, 1994, Artesian Water established a Supplemental Pension Plan, or the Supplemental Plan, to provide additional retirement benefits to full-time employees hired prior to April 26, 1994. The Supplemental Plan is a defined contribution plan that enables employees to save for future retiree medical costs, which will be paid by employees. The Supplemental Plan accomplishes this objective by providing additional cash resources to employees upon a termination of employment or retirement, to meet the cost of future medical expenses. Artesian Water has established a contribution based upon each employee's years of service ranging from 2% to 6% of eligible salaries and wages. Plan expenses, which include Company contributions and administrative fees, for the years 2017, 2016 and 2015, were approximately $190,000, $227,000, and $243,000, respectively. Postretirement Benefit Plan Artesian Water has a Postretirement Benefit Plan, or the Benefit Plan, which provides medical and life insurance benefits to certain retired employees. Prior to the amendment of the Benefit Plan, substantially all employees could become eligible for these benefits if they reached retirement age while still working for Artesian Water. The amendment excludes any current employees from becoming eligible for these benefits upon retirement. FASB ASC Topic 715 stipulates that Artesian Water accrue the expected cost of providing postretirement health care and life insurance benefits as employees render the services necessary to earn the benefits. Artesian Water recognizes an offsetting regulatory asset with respect to its post retirement liability. This asset is recorded based on the DEPSC order, which permits Artesian Water to continue recovery of postretirement health care and life insurance expense on a pay-as-you-go basis for the remaining eligible employees. Further, expense recovery as a percentage of rates is expected to remain generally constant over the initial years, and then decline until the obligation is liquidated. The amounts recognized in consolidated financial statements are determined based on an actuarial basis, which uses assumptions about inflation, mortality, medical trend rates and discount rates. A change in these assumptions could cause actual results to differ from those reported. Amounts charged to expense were $37,000, $80,000, and $113,000 for 2017, 2016 and 2015, respectively. The Company uses December 31 as the measurement date to determine the postretirement benefit obligation. There were three remaining eligible retirees as of December 31, 2017. The estimated post retirement liability recorded at December 31, 2017 and December 31, 2016 was $149,000 and $186,000 respectively. The Company anticipates contributing $37,000 towards postretirement benefits in 2018. There was no other comprehensive income impact because a regulatory asset is recorded as provided by FASB ASC Topic 980.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 COMMITMENTS AND CONTINGENCIES Leases In October 1997, Artesian Water entered into a 33 year operating lease for a parcel of land with improvements located in South Bethany, a municipality in Sussex County, Delaware. The annual lease payments increase each year by the most recent increase in the Consumer Price Index for Urban Workers, CPI-U, as published by the U.S. Department of Labor, Bureau of Labor Statistics. At each eleventh year of the lease term, the annual lease payment shall be determined based on the fair market value of the parcel of land. Rental payments for 2017, 2016 and 2015 were $16,300, $16,100, and $16,000, respectively. The future minimum rental payment as disclosed in the following table is calculated using CPI-U as of October 31, 2017 as well as any adjustments for appraisals conducted to determine the fair market value of the parcel of land. During 2003, Artesian Resources entered into a 40 year easement agreement to acquire an easement to access, operate, maintain, repair, improve, replace and connect Artesian's water system to a well, including a parcel of land around the well. Easement payments for 2017, 2016 and 2015 were $37,000, $36,000 and $35,000, respectively. Artesian Wastewater entered into a perpetual agreement for the use of approximately 460 acres of land in Sussex County, Delaware for wastewater disposal. Beginning January 2007, Artesian Wastewater is required to pay a minimum of $40,000 per year for the use of this land. Beginning January 2012, and on each anniversary thereof until January 2027, the fee shall be adjusted upwards by an adjustment factor of two percent. In Future minimum annual rental payments related to non-cancellable operating leases for the years subsequent to 2017 are as follows: In thousands 2018 $ 78 2019 56 2020 57 2021 58 2022 60 2023 through 2043 1,336 $ 1,645 Interconnections Artesian Water has one water service interconnection agreement with a neighboring utility, Chester Water Authority, which requires minimum annual purchases. Rates charged under this agreement are subject to change. The minimum purchase requirement is 1,095 million gallons annually, calculated as 3 million gallons per day times the number of calendar days in a year. The agreement is extended through the year 2021. In January 2018, Artesian Water Maryland signed an interconnection agreement with the Town of North East that has a "take or pay" clause requiring us to purchase a minimum of 35,000 gallons per day . The interconnection completion date is expected to occur during the third quarter of 2018. The minimum annual purchase commitments for all interconnection agreements for 2018 through 2021, calculated at the noticed rates, are as follows: In thousands 2018 3,824 2019 3,824 2020 3,835 2021 3,824 Total $ 15,307 Expenses for purchased water were $4.4 million, $4.0 million and $4.0 million for December 31, 2017, 2016 and 2015, respectively. Other Commitments In 2013, Artesian Water entere d into a 3-year agreement with Worldwide Industries Corporation to clean and paint tanks in 2014, 2015 and 2016. Pursuant to the 3-year agreement, the expenditure committed in total for the years 2014 through 2016 is $804,000. In 2014, the 3-year agreement with Worldwide Industries Corporation was amended to include an additional 113,000 in expenditures related to cleaning and painting tanks. T Budgeted mandatory utility plant expenditures, due to planned governmental highway projects, which require the relocation of Artesian Water's water service mains, expected to be incurred in 2018 through 2020 are as follows: In thousands 2018 $ 3,851 2019 1,535 2020 550 $ 5,936 The exact timing and extent of these relocation projects is controlled primarily by the Delaware Department of Transportation. Litigation Artesian Resources and its subsidiaries are subject to legal proceedings in the ordinary course of business. Any amounts from such legal proceedings that are probable and reasonably estimable are reflected in the financial statements.

GEOGRAPHIC CONCENTRATION OF CUS

GEOGRAPHIC CONCENTRATION OF CUSTOMERS	12 Months Ended
	Dec. 31, 2017
GEOGRAPHIC CONCENTRATION OF CUSTOMERS [Abstract]
GEOGRAPHIC CONCENTRATION OF CUSTOMERS	NOTE 11 GEOGRAPHIC CONCENTRATION OF CUSTOMERS Artesian Water, Artesian Water Maryland and Artesian Water Pennsylvania provide water utility service to customers within their established service territory in all three counties of Delaware and in portions of Maryland and Pennsylvania, pursuant to rates filed with and approved by the DEPSC, the MDPSC and the PAPUC. As of December 31, 2017, Artesian Water was serving approximately 84,200 customers, Artesian Water Maryland was serving approximately 2,300 customers and Artesian Water Pennsylvania was serving approximately 40 customers. Artesian Wastewater began providing wastewater services to a community in Sussex County, Delaware in July 2005. Artesian Wastewater provides wastewater utility service to customers within their established service territory in Sussex County, Delaware pursuant to rates filed with and approved by the DEPSC. As of December 31, 2017, Artesian Wastewater was serving approximately 1,800 customers, all of which are located in Sussex County, Delaware.

REGULATORY PROCEEDINGS

REGULATORY PROCEEDINGS	12 Months Ended
	Dec. 31, 2017
REGULATORY PROCEEDINGS [Abstract]
REGULATORY PROCEEDINGS	NOTE 12 REGULATORY PROCEEDINGS Our water and wastewater utilities generate operating revenue from customers based on rates that are established by state Public Service Commissions through a rate setting process that may include public hearings, evidentiary hearings and the submission of evidence and testimony in support of the requested level of rates by the Company. We are subject to regulation by the following state regulatory commissions: · · · Rate Proceedings Our regulated utilities periodically seek rate increases to cover the cost of increased operating expenses, increased financing expenses due to additional investments in utility plant and other costs of doing business. In Delaware, utilities are permitted by law to place rates into effect, under bond, on a temporary basis pending completion of a rate increase proceeding. The first temporary increase may be up to the lesser of $2.5 million on an annual basis or 15% of gross water sales. Should the rate case not be completed within seven months, by law, the utility may put the entire requested rate relief, up to 15% of gross water sales, in effect under bond until a final resolution is ordered and placed into effect. If any such rates are found to be in excess of rates the DEPSC finds to be appropriate, the utility must refund customers the portion found to be in excess with interest. The timing of our rate increase requests are therefore dependent upon the estimated cost of the administrative process in relation to the investments and expenses that we hope to recover through the rate increase. We can provide no assurances that rate increase requests will be approved by applicable regulatory agencies and, if approved, we cannot guarantee that these rate increases will be granted in a timely or sufficient manner to cover the investments and expenses for which we initially sought the rate increase. On August 18, 2015, the DEPSC made a preliminary ruling in response to Artesian Water's April 2014 application to implement new rates to meet a requested increase in revenue of 15.90%, or approximately $10.0 million, on an annualized basis. The preliminary ruling recommended a permanent rate increase in revenue of approximately $6.0 million, or 9.50%, on an annualized basis, which was an incremental increase for customers of approximately 6.20% above the Distribution System Improvement Charge, or DSIC, rate previously in effect. On October 6, 2015, a DEPSC order was issued concurring with the preliminary ruling issued on August 18, 2015. On January 19, 2016, a final DEPSC order was issued related to the permanent rate increase and concurred with the October 6, 2015 order. Because the permanent rate increase was less than amounts collected under previously approved temporary increases in rates, Artesian Water was required to refund a portion of the temporary rate increases to its customers. The refund, plus interest, at the average prime rate, for the overpayment from customers was applied to current and future customer bills in October 2015. Because the final rate award was at a level not less than the amount previously reported as income, there was no material impact upon previously reported water sales revenue. The new rates are designed to allow recovery of capital investments made by Artesian Water and to cover increased costs of operations, including water quality testing, chemicals and electricity for water treatment, taxes, labor and benefits. On January 16, 2018, the DEPSC approved the opening of Docket No. 17-1240 requiring Delaware utilities to determine the impact that the Tax Cuts and Jobs Act of 2017 (TCJA) had on its customers and potential rate relief due to customers. Delaware utilities are required to report their findings back to the DEPSC by March 31, 2018. Other Proceedings Delaware law permits water utilities to put into effect, on a semi-annual basis, increases related to specific types of distribution system improvements through a Distribution System Improvement Charge, or DSIC. This charge may be implemented by water utilities between general rate increase applications that normally recognize changes in a water utility's overall financial position. The DSIC approval process is less costly when compared to the approval process for general rate increase requests. The DSIC rate applied between base rate filings is capped at 7.50% of the amount billed to customers under otherwise applicable rates and charges, and the DSIC rate increase applied cannot exceed 5.0% within an y 12-month period. The following table summarizes (1) Artesian Water's applications with the DEPSC to collect DSIC rates and (2) the rates upon which eligible plant improvements are based: Application Date 11/26/2014 5/28/2015 11/24/2015 05/31/2016 11/29/2016 DEPSC Approval Date 12/16/2014 6/16/2015 12/15/2015 06/28/2016 12/20/2016 Effective Date 1/1/2015 7/1/2015 01/01/2016 07/01/2016 01/01/2017 Cumulative DSIC Rate 0.34 % 1.15 % 1.57 % 2.30 % 4.71 % Eligible Plant Improvements – Cumulative Dollars (in millions) $ 1.3 $ 4.6 $ 7.0 $ 10.3 $ 16.6 Eligible Plant Improvements – Installed Beginning Date 10/1/2014 10/1/2014 10/01/2014 10/01/2014 10/01/2014 Eligible Plant Improvements – Installed Ending Date 10/31/2014 4/30/2015 10/31/2015 04/30/2016 12/20/16 DEPSC has completed audits for all filings for rates effective through 2016 noted in the table above. The rate effective in 2017 noted in the table above is subject to audit at a later date. For the years ended December 31, 2017, December 31, 2016 and December 31, 2015, we earned approximately $3,160,000, $1,306,000 and $520,000 in DSIC revenue, respectively.

NET INCOME PER COMMON SHARE AND

NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE	12 Months Ended
	Dec. 31, 2017
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE [Abstract]
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE	NOTE 13 NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding, the potentially dilutive effect of employee stock options and restricted stock awards. The following table summarizes the shares used in computing basic and diluted net income per share: For the Year Ended December 31, 2017 2016 2015 (in thousands) Weighted average common shares outstanding during the period for Basic computation 9,175 9,098 8,960 Dilutive effect of employee stock options 67 63 45 Weighted average common shares outstanding during the period for Diluted computation 9,242 9,161 9,005 For the year ended 2017, 3,460 shares of restricted stock awards were excluded from the calculations of diluted net income per share. For the year ended 2016, no shares of restricted stock awards were excluded from the calculations of diluted net income per share. Due to unrecognized compensation costs, the hypothetical repurchase of shares exceeded the number of restricted shares expected to vest during the period, creating an anti-dilutive effect. For the years ended 2017 and 2016, no shares of stock options were excluded from the calculations of diluted net income per share. The Company has 15,000,000 authorized shares of Class A Stock, and 1,040,000 shares of Class B Stock. As of December 31, 2017, 8,333,454 shares of Class A Stock and 881,452 shares of Class B Stock were issued and outstanding. As of December 31, 2016, 8,246,033 shares of Class A Stock and 881,452 shares of Class B Stock were issued and outstanding. As of December 31, 2015, 8,176,213 shares of Class A Stock and 881,452 shares of Class B Stock were issued and outstanding. The par value for both classes is $1.00 per share. For the years ended December 31, 2017, December 31, 2016, and December 31, 2015, the Company issued 87,421, 69,820, and 145,536 shares of Class A Stock, respectively. Equity per common share was $15.98, $15.28, and $14.77 at December 31, 2017, December 31, 2016, and December 31, 2015, respectively. These amounts were computed by dividing common stockholders' equity by the number of weighted average shares of common stock outstanding on December 31, 2017, December 31, 2016, and December 31, 2015, respectively.

SELECTED CONSOLIDATED QUARTERLY

SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2017
SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]
SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED)	NOTE 14 SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) The following table is derived from quarterly unaudited consolidated statements of operations for the years ended December 31, 2017 and 2016. Quarterly basic and diluted per share amounts do not add to the full year total due to rounding. First Quarter Second Quarter Third Quarter Fourth Quarter In thousands (except per share data) 2017 2016 2017 2016 2017 2016 2017 2016 Operating revenues $ 19,190 $ 18,449 $ 20,502 $ 19,395 $ 22,356 $ 21,828 $ 20,187 $ 19,417 Operating income $ 3,991 $ 3,853 $ 4,990 $ 4,669 $ 5,454 $ 5,945 $ 5,165 $ 4,352 Net income applicable to common stock $ 3,086 $ 2,830 $ 3,251 $ 3,041 $ 3,942 $ 4,360 $ 3,704 $ 2,723 Income per common share Basic $ 0.34 $ 0.28 $ 0.35 $ 0.33 $ 0.43 $ 0.48 $ 0.40 $ 0.30 Diluted $ 0.34 $ 0.28 $ 0.35 $ 0.33 $ 0.42 $ 0.48 $ 0.40 $ 0.30

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 15 RELATED PARTY TRANSACTIONS In October 2017, September 2017, February 2017 and July 2016, Artesian Water entered into agreements in the normal course of business with W.F. Construction, Inc. for work associated with building modifications to water treatment plants. The amounts of these agreements were approximately $60,000, $36,000, $100,000 and $131,000 respectively. The owner of W.F. Construction, Inc. is the husband of Mrs. Jennifer Finch, Vice President and Assistant Treasurer of Artesian Resources. Approximately $183,000 was paid to W.F. Construction, Inc. during 2017. Approximately $137,000 was paid to W.F. Construction, Inc. in 2016. As of December 31, 2017 and December 31, 2016, the Company had no liability to W.F. Construction, Inc. As set forth in the Charter of the Audit Committee of the Board of Directors of Artesian Resources, the Audit Committee is responsible for reviewing and, if appropriate, approving all related party transactions between us and any officer, director, any person known to be the beneficial owner of more than 5% of any class of the Company's voting securities or any other related person that would potentially require disclosure. In its review and approval of the 2017 and 2016 related party transactions with W.F. Construction, Inc., the Audit Committee considered the nature of the related person's interest in the transaction; the satisfactory performance of work contracted with the related party prior to our employment of Mrs. Finch; and the material terms of the transaction, including, without limitation, the amount and type of transaction, the importance of the transaction to the related person, the importance of the transaction to the Company and whether the transaction would impair the judgment of a director or officer to act in the best interest of the Company. The Audit Committee approves only those related person transactions that are in, or are consistent with, the best interests of the Company and its stockholders.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	12 Months Ended
	Dec. 31, 2017
Legal Proceedings [Abstract]
LEGAL PROCEEDINGS	NOTE 16 LEGAL PROCEEDINGS Periodically, we are involved in other proceedings or litigation arising in the ordinary course of business. We do not believe that the ultimate resolution of these matters will materially affect our business, financial position or results of operations. However, we cannot assure that we will prevail in any litigation and, regardless of the outcome, may incur significant litigation expense and may have significant diversion of management attention.

IMPACT OF RECENT ACCOUNTING PRO

IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2017
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 17 IMPACT OF RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued amended guidance for reporting revenue from contracts with customers. This guidance affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and the related cash flows arising from contracts with customers. For a public entity, the amendments in this guidance are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company has identified its sources of revenue streams that fall within the scope of ASC Topic 606. The Company has also applied the five-step model to all qualifying revenue streams to determine when to recognize revenue. The Company has substantially completed its evaluation and concluded there is not a material change to how revenue is currently being recognized compared to how revenue will be recognized under this amended guidance. The Company will adopt this new standard and include the enhanced disclosure requirements in its 2018 first quarter filing using the modified retrospective method. In February 2016, the FASB issued new guidance on Leases to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Management is currently evaluating the impact of our pending adoption of the new standard, which includes compiling a list of all contracts that meet the definitions of a lease under the new standard and determining the proper classification and accounting treatment of such contracts in order to determine the ultimate impact the new standard will have on our consolidated financial statements. In January 2017, the FASB issued new guidance on Business Combinations. The amendments in this update clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. The Company applied this amended guidance in 2017 to the purchase of the water assets from Fort DuPont Redevelopment and Preservation Corporation. In February 2017, the FASB issued new guidance on Other Income – Gains and Losses from derecognition of Nonfinancial Assets to clarify the scope and application of the sale or transfer of nonfinancial assets to noncustomers, including partial sales and also define what constitutes an "in substance nonfinancial asset" which can include financial assets. The new guidance eliminates several accounting differences between transactions involving assets and transactions involving businesses. Further, the guidance aligns the accounting for derecognition of a nonfinancial asset with that of a business. This standard is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. Management concluded there is no material impact on the Company's financial statements due to the adoption of this guidance.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 18 SUBSEQUENT EVENTS On January 31, 2018, Artesian Water and CoBank entered into a Bond Purchase Agreement relating to the issue and sale by the Company to CoBank of a $25 million principal amount First Mortgage Bond, Series U, or the Series U Bond, due January 31, 2038, or (the Series U "Maturity Date"). The Series U Bond was issued pursuant to the Company's Indenture of Mortgage dated as of July 1, 1961, as amended and supplemented by supplemental indentures, including the Twenty-Third Supplemental Indenture, dated as of January 31, 2018 from the Company to Wilmington Trust Company, as Trustee. The Indenture is a first mortgage lien against substantially all of the Company's utility plant. The proceeds from the sale of the Series U Bond together with other funds of the Company, were used to pay in full at maturity indebtedness of the Company under those certain First Mortgage Bonds, Series P. The DEPSC approved the issuance of the Series U Bond on December 21, 2017. The Series U Bond carries an annual interest rate of 4.71% through and including the Series U Maturity Date. Interest is payable on January 30th, April 30th, July 30th and October 30th in each year and on the Series U Maturity Date, beginning April 30, 2018 until the Company's obligation with respect to the payment of principal, premium (if any) and interest shall be discharged. Overdue payments shall bear interest as provided in the Supplemental Indenture. The term of the Series U Bond also includes certain limitations on the Company's indebtedness. On January 16, 2018, the DEPSC approved the opening of Docket No. 17-1240 requiring Delaware utilities to determine the impact that the Tax Cuts and Jobs Act of 2017, or TCJA, had on its customers and potential rate relief due to customers. Delaware utilities are required to report their findings back to the DEPSC by March 31, 2018. The Company expects any reduction in corporate income tax expense resulting from the TCJA will be passed through to customers in the form of reduced tariff rates or approved DSIC rate.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Basis of Presentation	Basis of Presentation The audited consolidated financial statements are presented in accordance with the requirements of Form 10-K and accounting principles generally accepted in the United States and consequently include all the disclosures required in the consolidated financial statements included in the Company's annual report on Form 10-K. The accompanying consolidated financial statements include the accounts of Artesian Resources Corporation and its subsidiaries and all intercompany balances and transactions between subsidiaries have been eliminated.
Utility Subsidiary Accounting	Utility Subsidiary Accounting The accounting records of Artesian Water Company, Inc., or Artesian Water, and Artesian Wastewater Management, Inc., or Artesian Wastewater, are maintained in accordance with the uniform system of accounts as prescribed by the Delaware Public Service Commission, or the DEPSC. The accounting records of Artesian Water Pennsylvania, Inc., or Artesian Water Pennsylvania, are maintained in accordance with the uniform system of accounts as prescribed by the Pennsylvania Public Utility Commission, or the PAPUC. The accounting records of Artesian Water Maryland, Inc., or Artesian Water Maryland, and Artesian Wastewater Maryland, Inc., or Artesian Wastewater Maryland, are maintained in accordance with the uniform system of accounts as prescribed by the Maryland Public Service Commission, or the MDPSC. All five subsidiaries follow the provisions of FASB ASC Topic 980, which provides guidance for companies in regulated industries. These regulated subsidiaries account for the majority of our operating revenue. The operating revenues of our non-regulated division are presented in the Consolidated Statements of Operations.
Utility Plant	Utility Plant Utility plant is stated at original cost. Cost includes direct labor, materials, AFUDC (see description below) and indirect charges for such capitalized items as transportation, supervision, pension, medical, and other fringe benefits related to employees engaged in construction activities. When depreciable units of utility plant are retired, any cost associated with retirement, less any salvage value or proceeds received, is charged to the regulated retirement liability. Maintenance, repairs, and replacement of minor items of plant are charged to expense as incurred. In accordance with a rate order issued by the DEPSC, Artesian Water accrues an Allowance for Funds Used during Construction, or AFUDC. AFUDC, which represents the cost of funds devoted to construction projects through the date the project is placed in service, is capitalized as part of construction work in progress. The rate used for the AFUDC calculation is based on Artesian Water's weighted average cost of debt and the rate of return on equity authorized by the DEPSC. The rate used to capitalize AFUDC in 2017, 2016, and 2015 was 7.7%, 8.1%, and 8.1% respectively. Utility plant comprises In thousands December 31, Estimated Useful Life (In Years) 2017 2016 Utility plant at original cost Utility plant in service-Water Intangible plant — $ 140 $ 140 Source of supply plant 45-85 20,959 19,627 Pumping and water treatment plant 8-62 81,180 78,542 Transmission and distribution plant Mains 81 252,569 236,261 Services 39 42,232 38,803 Storage tanks 76 24,729 24,108 Meters 26 25,628 24,710 Hydrants 60 13,760 12,870 General plant 3-31 56,784 53,417 Utility plant in service-Wastewater Treatment and disposal plant 35-62 17,421 15,613 Collection mains & lift stations 81 13,692 8,675 General plant 3-31 1,006 931 Property held for future use — 14,647 14,815 Construction work in progress — 12,700 6,674 577,447 535,186 Less – accumulated depreciation 116,945 109,684 $ 460,502 $ 425,502
Depreciation and Amortization	Depreciation and Amortization For financial reporting purposes, depreciation is recorded using the straight-line method at rates based on estimated economic useful lives, which range from 3 to 85 years. Composite depreciation rates for water utility plant were 2.27%, 2.25% and 2.29% for 2017, 2016 and 2015, respectively. In a rate order issued by the DEPSC, the Company was directed effective January 1, 1998 to begin using revised depreciation rates for utility plant. In rate orders issued by the DEPSC, Artesian Water was directed, effective May 28, 1991 and August 25, 1992, to offset depreciation recorded on utility plant by depreciation on utility property funded by Contributions in Aid of Construction, or CIAC, and Advances for Construction, or Advances, respectively. This reduction in depreciation expense is also applied to outstanding CIAC and Advances. Other deferred assets are amortized using the straight-line method over applicable lives, which range from 20 to 24 years.
Regulatory Assets	Regulatory Assets The Financial Accounting Standards Board, or FASB, ASC Topic 980 stipulates generally accepted accounting principles for companies whose rates are established or subject to approvals by a third-party regulatory agency. Certain expenses are recoverable through rates charged to our customers, without a return on investment, and are deferred and amortized during future periods using various methods as permitted by the Delaware Public Service Commission, or DEPSC, the Maryland Public Service Commission, or MDPSC, and the Pennsylvania Public Utility Commission, or PAPUC. The postretirement benefit obligation is the recognition of an offsetting regulatory liability as it relates to the accrual of the expected cost of providing postretirement health care and life insurance benefits to retired employees when they render the services necessary to earn the benefits. Artesian Water contributed $37,000 to its postretirement benefit plan in 2017. These co The deferred income taxes will be amortized over future years as the tax effects of temporary differences that previously flowed through to our customers are reversed. Debt related costs include debt issuance costs and other debt related expense. The DEPSC has allowed rate recovery on unamortized issuance costs and make-whole premiums associated with the early retirement of Series O and Q First Mortgage bonds as the replacement of that debt in January 2017 with Series T First Mortgage bonds was deemed more favorable for the ratepayers. The DEPSC has also allowed rate recovery on issuance costs associated with the Series U First Mortgage bond purchase in January 2018 that paid the full indebtedness of the Series P First Mortgage bond. These amounts are recovered over the term of the new long-term debt issued. Regulatory expenses amortized on a straight-line basis are noted below: Expense Years Amortized Depreciation and salary studies 5 Delaware rate proceedings 2.5 Maryland rate proceedings 5 Debt related costs 15 to 25 (based on term of related debt) Goodwill (resulting from acquisition of Mountain Hill Water Company in 2008) 50 Deferred acquisition costs (resulting from purchase of water assets in Cecil County, Maryland in 2011 and Port Deposit, Maryland in 2010) 20 Franchise Costs (resulting from purchase of water assets in Cecil County, Maryland in 2011) 80 Regulatory assets, net of amortization, comprise: (in thousands) December 31, 2017 December 31, 2016 Postretirement benefit obligation $ 149 $ 186 Deferred income taxes 416 431 Expense of rate and regulatory proceedings 70 116 Debt issuance costs 5,965 1,648 Goodwill 303 310 Deferred acquisition and franchise costs 646 683 $ 7,549 $ 3,374
Impairment or Disposal of Long-Lived Assets	Impairment or Disposal of Long-Lived Assets Our long-lived assets consist primarily of utility plant in service and regulatory assets. A review of our long-lived assets is performed in accordance with the requirements of FASB ASC Topic 360. In addition, the regulatory assets are reviewed for the continued application of FASB ASC Topic 980. The review determines whether there have been changes in circumstances or events that have occurred requiring adjustments to the carrying value of these assets. FASB ASC Topic 980 stipulates that adjustments to the carrying value of these assets would be made in instances where the inclusion in the rate-making process is unlikely.
Other Deferred Assets	Other Deferred Assets The investment in Co-Bank, which is a cooperative bank, is related to certain outstanding First Mortgage Bonds and is a required investment in the bank based on the underlying long term debt agreements. A large portion of the remaining other deferred assets, approximately $0.3 million, is in relation to the Mountain Hill acquisition. Other deferred assets at December 31, net of amortization, comprise: In thousands 2017 2016 Investment in CoBank $ 3,358 $ 3,198 Other 363 386 $ 3,721 $ 3,584
Advances for Construction	Advances for Construction Cash advances to reimburse Artesian Water for its costs to construct water mains, services and hydrants are contributed to Artesian Water by real estate developers and builders in order to extend water service to their properties. The Company only accepts advances related to new phases of existing developments that are grandfathered into the refundable arrangement through pre-existing contracts. The value of these contributions is recorded as Advances for Construction. Artesian Water makes refunds on these advances over a specific period of time based on operating revenues generated by the specific plant or as new customers are connected to the mains. After all refunds are made within the contract period, any remaining balance is transferred to CIAC.
Contributions in Aid of Construction	Contributions in Aid of Construction CIAC includes the non-refundable portion of advances for construction and direct contributions of water mains, services and hydrants, and wastewater treatment facilities and collection systems, or cash to reimburse our water and wastewater divisions for costs to construct water mains, services and hydrants, and wastewater treatment and disposal plant.
Regulatory Liabilities	Regulatory Liabilities The Financial Accounting Standards Board, or FASB, ASC Topic 980 stipulates generally accepted accounting principles for companies whose rates are established or subject to approvals by a third-party regulatory agency. Certain obligations are deferred and/or amortized as determined by the Delaware Public Service Commission, or DEPSC, the Maryland Public Service Commission, or MDPSC, and the Pennsylvania Public Utility Commission, or PAPUC. Regulatory liabilities represent excess recovery of cost or other items that have been deferred because it is probable such amounts will be returned to customers through future regulated rates. The postretirement benefit obligation is the recognition of an offsetting regulatory asset as it relates to the accrual of the expected cost of providing postretirement health care and life insurance benefits to retired employees when they render the services necessary to earn the benefits. Artesian Water contributed $37,000 to its postretirement benefit plan in 2017. These contributions consist of insurance premium payments for medical, dental and life insurance benefits made on behalf of the Company's eligible retired employees. Utility plant retirement cost obligation consists of estimated costs related to the potential removal and replacement of facilities and equipment on the Company's water and wastewater properties. Effective January 1, 2012, as authorized by the DEPSC, when depreciable units of utility plant are retired, any cost associated with retirement, less any salvage value or proceeds received is charged to a regulated retirement liability. Each year the liability is increased by an annual amount authorized by the DEPSC. Pursuant to the enactment of the Tax Cuts and Jobs Act (TCJA) on December 22, 2017, the Company adjusted its existing deferred income tax balances as of December 31, 2017 to reflect the decrease in the corporate income tax rate from 34% to 21% (see Note 3). This resulted in a decrease in the net deferred income tax liability of approximately $23.5 million of which $22.5 million was reclassed to a regulatory liability. These amounts are subject to certain Internal Revenue Service normalization rules that require the benefits to customers be spread over the remaining useful life of the underlying assets giving rise to the associated deferred income taxes. The amount and timing of potential settlements of the established net regulatory liabilities will be determined by the utilities' respective rate regulators.. Regulatory liabilities comprise: (in thousands) December 31, 2017 December 31, 2016 Postretirement benefit obligation $ 112 $ 149 Utility plant retirement cost obligation 549 873 Deferred income taxes (related to TCJA) 22,540 - $ 23,201 $ 1,022
Income Taxes	Income Taxes The TCJA makes many significant changes to the Internal Revenue Code, including, but not limited to (1) reducing the federal corporate tax rate to a flat 21%; (2) creating a 30% limitation on deductible interest expense (not applicable to regulated utilities); (3) the loss of future bonus depreciation deductions on utility plant capital projects that began after September 27, 2017; (4) eliminating the domestic production activities deduction; (5) eliminating the corporate alternative minimum tax and changing how existing alternative minimum tax credits can be realized; (6) changing the rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017 and (7) repealing the exclusion from gross income contributions in aid of construction (CIAC) for water utilities. The most significant change that impacts Artesian Resources is the reduction of the corporate federal income tax rate from our previous effect rate of 34% to the new flat tax rate of 21% beginning January 1, 2018. The SEC Staff issued Accounting Bulletin No. 118, Income Tax Accounting of the Tax Cuts and Jobs Act, which provides guidance to address situations where a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the TCJA in the period in which the TCJA was enacted. Under the guidance, registrants can report the effects of the TCJA as provisional amounts based on reasonable estimates in those areas in which the accounting is incomplete. The provisional amounts are subject to adjustment during a measurement period that can extend no longer than one year from the enactment date. The Company made reasonable estimates in measuring and accounting for the effects of the TCJA, which are reflected in the December 31, 2017 financial statements, however, these estimates could change based on further analysis of the TCJA or further regulatory rulings from the Company's various Public Service Commissions. Deferred income taxes are provided in accordance with FASB ASC Topic 740 on all differences between the tax basis of assets and liabilities and the amounts at which they are carried in the consolidated financial statements based on the enacted tax rates expected to be in effect when such temporary differences are expected to reverse. The Company's rate regulated utilities recognize regulatory liabilities, to the extent considered in ratemaking, for deferred taxes provided in excess of the current statutory tax rate and regulatory assets for deferred taxes provided at rates less than the current statutory rate. Such tax-related regulatory assets and liabilities are reported at the revenue requirement level and amortized to income as the related temporary differences reverse, generally over the lives of the related properties. Under FASB ASC Topic 740, an uncertain tax position represents our expected treatment of a tax position taken, or planned to be taken in the future, that has not been reflected in measuring income tax expense for financial reporting purposes. he Company remains subject to examination by federal authorities for the tax years 2015 through 2017 and state authorities for the tax years 2014 through 2017. The Company was under federal audit by the Internal Revenue Service for tax years 2012 through 2014 during 2016. The audit concluded in 2016 resulting in no change to the tax liability. The Tax Reform Act of 1986 mandated that Advances and CIAC received subsequent to December 31, 1986, generally are taxable income. The 1996 Tax Act provided an exclusion from taxable income for CIAC and Advances received after June 12, 1996 except for certain contributions for large services that are not included in rate base for rate-making purposes. On December 22, 2017, the TCJA repealed the 1996 exclusion from gross income effect on the enactment date. Investment tax credits were deferred through 1986 and are recognized as a reduction of deferred income tax expense over the estimated economic useful lives of the related assets.
Stock Compensation Plans	Stock Compensation Plans On December 9, 2015, the Company's stockholders approved the 2015 Equity Compensation Plan, or the 2015 Plan. The 2015 Plan replaced the 2005 Equity Compensation Plan, or the 2005 Plan, which expired on May 24, 2015. The 2015 Plan authorizes an aggregate number of shares of our Class A common stock that may be issued or transferred under the Plan equal to the sum of: 331,500 shares, plus the number of shares of Class A common stock subject to outstanding grants under the 2005 Plan as of December 9, 2015 that terminate, expire or are cancelled, forfeited, exchanged or surrendered without having been exercised, vested or paid under the 2005 Plan. The Company accounts for stock options issued after January 1, 2006 under FASB ASC Topic 718. Compensation costs for restricted stock grants and options were $423,000, $92,000 and $183,000 in 2017, 2016 and 2015, respectively. Cost for options and restricted stock grants were determined based on the fair value at the grant dates and those costs were charged to income over the associated service periods. The $183,000 in 2015 was the amount amortized for restricted stock awarded in 2015 and stock options awarded in 2014. The $92,000 in 2016 was the amount amortized for restricted stock awarded in 2016. The $423,000 was the amount amortized for restricted and unrestricted stock awarded in 2016 and 2017. As of December 31, 2017 there is $64,000 unrecognized expense related to non-vested awards of restricted shares granted under the 2015 Plan. There was no stock compensation cost capitalized as part of an asset. Stock Options No options were granted in 2015, 2016 or 2017. Shares of Class A Stock have been reserved for future issuance under the 2015 Equity Compensation Plan. Stock Awards On June 28, 2017, 6,568 shares of Class A common stock, or Class A Stock, were issued as fully vested unrestricted stock awards. The fair market value per share was $38.06, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on June 28, 2017. A total of $250,000 was recorded as compensation cost for the stock awards granted in June 2017. On May 3, 2017, 5,000 shares of Class A Stock were granted as restricted stock awards. The fair value per share was $38.10, the closing price of the Class A Stock as recorded on the Nasdaq Global Market on May 3, 2017. The restricted shares are subject to a one-year vesting period from the date of grant. Prior to their release date, these restricted stock awards may be subject to forfeiture in the event of the recipient's termination of service. $127,000 has been amortized and recorded as expense in 2017 for the stock awards granted in May 2017. On May 4, 2016, 5,000 shares of Class A common stock were granted as restricted stock awards. The fair market value per share was $27.70, the closing price of the Class A common stock as recorded on the Nasdaq Global Market on May 4, 2016. The restricted shares vested one year from the date of grant. A total of $92,000 and $47,000 in 2016 and 2017, respectively, was recorded as compensation cost for the awards granted in May 2016.
Revenue Recognition and Unbilled Revenues	Revenue Recognition and Unbilled Revenues Water service revenue for financial statement purposes includes amounts billed to Delaware customers on a monthly basis, amounts billed to Maryland customers on a quarterly or monthly cycle basis, depending on water system, and amounts billed to Pennsylvania customers on a quarterly basis. Water service revenues also include unbilled amounts based upon estimated usage from the date of the last meter reading to the end of the accounting period. As actual usage amounts are received, adjustments are made to the unbilled estimates in the next billing cycle based on an accrual basis. Other utility operating revenue includes wastewater service revenue derived from monthly fixed fees billed to customers, and is recognized on an accrual basis. Non-utility operating revenue is primarily derived from Service Line Protection Plans and from the design, construction and operation of contract water and wastewater projects. The Company recognizes non-utility operating revenue ratably over the service period with markup for overhead and profit. The Company records contract monthly fees for non-utility operating revenue when billed to the customer. Service line protection plan revenues are recognized on an accrual basis.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded at the invoiced amounts. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in our existing accounts receivable. The Company reviews the allowance for doubtful accounts on a quarterly basis. Account balances are written off against the allowance when it is probable the receivable will not be recovered. The allowance for doubtful accounts was $0.3 million at December 31, 2017 and December 31, 2016. The corresponding expense for each of the years ended December 31, 2017 and 2016 was $0.2 million. The following table summarizes the changes in the Company's accounts receivable balance: December 31, In thousands 2017 2016 2015 Customer accounts receivable – water $ 5,487 $ 5,437 $ 5,017 Contractual amounts due from developers and other 3,698 2,622 1,610 9,185 8,059 6,627 Less allowance for doubtful accounts 288 263 277 Net accounts receivable $ 8,897 $ 7,796 $ 6,350 The activities in the allowance for doubtful accounts are as follows: December 31, In thousands 2017 2016 2015 Beginning balance $ 263 $ 277 $ 250 Allowance adjustments 215 195 205 Recoveries 41 64 53 Write off of uncollectible accounts (231 ) (273 ) (231 ) Ending balance $ 288 $ 263 $ 277
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the Consolidated Statement of Cash Flows, Artesian Resources considers all temporary cash investments with an original maturity of three months or less to be cash equivalents.Artesian Resources and its subsidiaries utilize their bank's zero balance account disbursement service to reduce the use of their lines of credit by funding checks as they are presented to the bank for payment rather than at issuance. If the checks currently outstanding, but not yet funded, exceed the cash balance on our books, the net liability is recorded as a current liability on the Consolidated Balance Sheet in the Overdraft Payable account.
Use of Estimates in the Preparation of Consolidated Financial Statements	Use of Estimates in the Preparation of Consolidated Financial Statements The consolidated financial statements were prepared in conformity with generally accepted accounting principles in the U.S., which require management to make estimates about the reported amounts of assets and liabilities including unbilled revenues, reserve for a portion of revenues received under temporary rates and regulatory asset recovery and contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from management's estimate.

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Schedule of Utility Plant	Utility plant comprises In thousands December 31, Estimated Useful Life (In Years) 2017 2016 Utility plant at original cost Utility plant in service-Water Intangible plant — $ 140 $ 140 Source of supply plant 45-85 20,959 19,627 Pumping and water treatment plant 8-62 81,180 78,542 Transmission and distribution plant Mains 81 252,569 236,261 Services 39 42,232 38,803 Storage tanks 76 24,729 24,108 Meters 26 25,628 24,710 Hydrants 60 13,760 12,870 General plant 3-31 56,784 53,417 Utility plant in service-Wastewater Treatment and disposal plant 35-62 17,421 15,613 Collection mains & lift stations 81 13,692 8,675 General plant 3-31 1,006 931 Property held for future use — 14,647 14,815 Construction work in progress — 12,700 6,674 577,447 535,186 Less – accumulated depreciation 116,945 109,684 $ 460,502 $ 425,502
Amortization period of other regulatory expense	Regulatory expenses amortized on a straight-line basis are noted below: Expense Years Amortized Depreciation and salary studies 5 Delaware rate proceedings 2.5 Maryland rate proceedings 5 Debt related costs 15 to 25 (based on term of related debt) Goodwill (resulting from acquisition of Mountain Hill Water Company in 2008) 50 Deferred acquisition costs (resulting from purchase of water assets in Cecil County, Maryland in 2011 and Port Deposit, Maryland in 2010) 20 Franchise Costs (resulting from purchase of water assets in Cecil County, Maryland in 2011) 80
Regulatory Assets, Net of Amortization	Regulatory assets, net of amortization, comprise: (in thousands) December 31, 2017 December 31, 2016 Postretirement benefit obligation $ 149 $ 186 Deferred income taxes 416 431 Expense of rate and regulatory proceedings 70 116 Debt issuance costs 5,965 1,648 Goodwill 303 310 Deferred acquisition and franchise costs 646 683 $ 7,549 $ 3,374
Other Deferred Assets, Net of Amortization	Other deferred assets at December 31, net of amortization, comprise: In thousands 2017 2016 Investment in CoBank $ 3,358 $ 3,198 Other 363 386 $ 3,721 $ 3,584
Regulatory Liabilities	Regulatory liabilities comprise: (in thousands) December 31, 2017 December 31, 2016 Postretirement benefit obligation $ 112 $ 149 Utility plant retirement cost obligation 549 873 Deferred income taxes (related to TCJA) 22,540 - $ 23,201 $ 1,022
Changes in Accounts Receivable	December 31, In thousands 2017 2016 2015 Customer accounts receivable – water $ 5,487 $ 5,437 $ 5,017 Contractual amounts due from developers and other 3,698 2,622 1,610 9,185 8,059 6,627 Less allowance for doubtful accounts 288 263 277 Net accounts receivable $ 8,897 $ 7,796 $ 6,350
Allowance for Doubtful Accounts	The activities in the allowance for doubtful accounts are as follows: December 31, In thousands 2017 2016 2015 Beginning balance $ 263 $ 277 $ 250 Allowance adjustments 215 195 205 Recoveries 41 64 53 Write off of uncollectible accounts (231 ) (273 ) (231 ) Ending balance $ 288 $ 263 $ 277

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Fair value of long-term debt	In thousands December 31, 2017 2016 Carrying amount $ 106,931 $ 103,647 Estimated fair value 110,524 111,864

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
INCOME TAXES [Abstract]
Components of Income Tax Expense	Components of Income Tax Expense In thousands For the Year Ended December 31, State income taxes 2017 2016 2015 Current $ 489 $ 1,050 $ 499 Deferred 1,368 860 1,299 Total state income tax expense $ 1,857 $ 1,910 $ 1,798 For the Year Ended December 31, Federal income taxes 2017 2016 2015 Current $ (1,418 ) $ 1,799 $ 2,168 Deferred 6,856 4,622 3,818 Total federal income tax expense $ 5,438 $ 6,421 $ 5,986
Reconciliation of Effective Tax Rate	Reconciliation of effective tax rate: For the Year Ended December 31, In thousands 2017 2017 2016 2016 2015 2015 Amount Percent Amount Percent Amount Percent Reconciliation of effective tax rate Income before federal and state income taxes $ 21,278 100.0 % $ 21,285 100.0 % $ 19,088 100.0 % Amount computed at statutory rate 7,234 34.0 % 7,237 34.0 % 6,490 34.0 % Reconciling items State income tax-net of federal tax benefit 1,297 6.1 % 1,327 6.2 % 1,214 6.4 % Federal rate change (957 ) (4.5 %) -- -- -- -- Other (279 ) (1.3 )% (233 ) (1.1 )% 80 0.4 % Total income tax expense and effective rate $ 7,295 34.3 % $ 8,331 39.1 % $ 7,784 40.8 %
Deferred Income Taxes	Deferred income taxes at December 31, 2017, 2016, and 2015 were comprised of the following: For the Year Ended December 31, In thousands 2017 2016 2015 Deferred tax assets related to: Federal alternative minimum tax credit carry-forwards $ - $ 2,474 $ 3,971 Federal and state operating loss carry-forwards 1,094 752 675 Bad debt allowance 80 104 110 Valuation allowance (360 ) (286 ) (182 ) Stock options 207 452 415 Other 161 320 291 Total deferred tax assets $ 1,182 $ 3,816 $ 5,280 Deferred tax liabilities related to: Property plant and equipment basis differences $ (52,629 ) $ (70,711 ) $ (66,508 ) Bond retirement costs (1,437 ) 0 0 Uncertain tax position (145 ) (80 ) (247 ) Expenses of rate proceedings (8 ) (19 ) (213 ) Property taxes (500 ) (663 ) (527 ) Other (600 ) (796 ) (756 ) Total deferred tax liabilities $ (55,319 ) $ (72,269 ) $ (68,251 ) Net deferred tax liability $ (54,137 ) $ (68,453 ) $ (62,971 )
Schedule of Valuation Allowance	Schedule of Valuation Allowance Balance at Beginning of Period Additions Charged to Costs and Expenses Deductions Balance at End of Period In thousands Classification For the Year Ended December 31, 2017 Valuation allowance for deferred tax assets $ 286 $ 74 — $ 360 For the Year Ended December 31, 2016 Valuation allowance for deferred tax assets $ 182 $ 104 — $ 286 For the Year Ended December 31, 2015 Valuation allowance for deferred tax assets $ 65 $ 117 — $ 182
Schedule of Unrecognized Tax Benefits Roll Forward	The following table provides the changes in the Company's uncertain tax position: For the years ended December 31, In thousands 2017 2016 Balance at beginning of year $ 80 $ 247 Additions based on tax positions related to the current year 118 23 Additions based on tax positions related to prior years 8 11 Reductions for tax positions of prior years - (201 ) Settlements - - Federal tax rate change (61 ) Lapses in Statutes of Limitations - - Balance at end of year $ 145 $ 80

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2017
DEBT [Abstract]
Schedule of Long-term debt	Long-term debt consists of: December 31, In thousands 2017 2016 First mortgage bonds Series O, 8.17%, due December 29, 2020 $ - $ 20,000 Series P, 6.58%, due January 31, 2018 25,000 25,000 Series Q, 4.75%, due December 1, 2043 - 15,400 Series R, 5.96%, due December 31, 2028 25,000 25,000 Series S, 4.45%, due December 31, 2033 9,600 10,200 Series T, 4.24%, due December 20, 2036 40,000 - 99,600 95,600 State revolving fund loans 4.48%, due August 1, 2021 1,190 1,456 3.57%, due September 1, 2023 558 640 3.64%, due May 1, 2025 1,025 1,142 3.41%, due February 1, 2031 2,315 2,448 3.40%, due July 1, 2032 2,243 2,361 7,331 8,047 Sub-total 106,931 103,647 Less: current maturities (principal amount) 1,344 1,316 Total long-term debt $ 105,587 $ 102,331
Future Minimum Payments	Payments of principal amounts due during the next five years and thereafter: In thousands 2018 2019 2020 2021 2022 Thereafter First Mortgage bonds $ 600 $ 600 $ 600 $ 600 $ 600 $ 96,600 State revolving fund loans 744 771 801 832 533 3,651 Total payments $ 1,344 $ 1,371 $ 1,401 $ 1,432 $ 1,133 $ 100,251

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2017
STOCK COMPENSATION PLANS [Abstract]
Changes in Share of Class A Stock in Under Option	The following summary reflects changes in the shares of Class A Stock under option: 2017 Shares 2017 Weighted Average Exercise Price 2016 Shares 2016 Weighted Average Exercise Price 2015 Shares 2015 Weighted Average Exercise Price Plan options Outstanding at beginning of year 231,755 $ 19.32 270,000 $ 19.34 376,250 $ 19.52 Granted — — - - - - Exercised (54,953 ) 17.42 (38,245 ) 19.50 (106,250 ) 19.97 Expired — — — — — — Outstanding at end of year 176,802 $ 19.91 231,755 $ 19.32 270,000 $ 19.34 Options exercisable at year end 176,802 $ 19.91 231,755 $ 19.32 270,000 $ 19.34
Employee and Director Stock Options	The following tables summarize information about employee and director stock options outstanding at December 31, 2017: Options Outstanding Range of Exercise Price Shares Outstanding at December 31, 2017 Weighted Average Remaining Life Weighted Average Exercise Price Aggregate Intrinsic Value $ 15.26 - $18.61 41,802 1.99 Years $ 17.52 $ 879,409 $ 18.62 - $22.66 135,000 4.86 Years $ 20.64 $ 2,418,187 Options Exercisable Range of Exercise Price Shares Exercisable at December 31, 2017 Weighted Average Remaining Life Weighted Average Exercise Price Aggregate Intrinsic Value $ 15.26 - $18.61 41,802 1.99 Years $ 17.52 $ 879,409 $ 18.62 - $22.66 135,000 4.86 Years $ 20.64 $ 2,418,187
Changes in Shares of Class A Stock in Restricted Stock Awards (RSA)	The following summary reflects changes in the shares of Class A Stock Restricted Stock Awards (RSA): 2017 Shares 2017 Weighted Average Grant Date Fair Value 2016 Shares 2016 Weighted Average Grant Date Fair Value 2015 Shares 2015 Weighted Average Exercise Price Plan RSA's Outstanding at beginning of year 5,000 $ 27.70 - $ - - $ - Granted 11,568 38.08 5,000 27.70 5,000 27.38 Vested/Released (11,568 ) 33.58 - - (5,000 ) 27.38 Cancelled - - - - - - Unvested Outstanding at end of year 5,000 $ 38.10 5,000 $ 27.70 - $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
COMMITMENTS AND CONTINGENCIES [Abstract]
Future Minimum Rental Payments	Future minimum annual rental payments related to non-cancellable operating leases for the years subsequent to 2017 are as follows: In thousands 2018 $ 78 2019 56 2020 57 2021 58 2022 60 2023 through 2043 1,336 $ 1,645
Minimum Annual Purchase Commitments	The minimum annual purchase commitments for all interconnection agreements for 2018 through 2021, calculated at the noticed rates, are as follows: In thousands 2018 3,824 2019 3,824 2020 3,835 2021 3,824 Total $ 15,307
Budgeted Mandatory Utility Plant Expenditures	Budgeted mandatory utility plant expenditures, due to planned governmental highway projects, which require the relocation of Artesian Water's water service mains, expected to be incurred in 2018 through 2020 are as follows: In thousands 2018 $ 3,851 2019 1,535 2020 550 $ 5,936

REGULATORY PROCEEDINGS (Tables)

REGULATORY PROCEEDINGS (Tables)	12 Months Ended
	Dec. 31, 2017
REGULATORY PROCEEDINGS [Abstract]
Eligible plant improvements	The following table summarizes (1) Artesian Water's applications with the DEPSC to collect DSIC rates and (2) the rates upon which eligible plant improvements are based: Application Date 11/26/2014 5/28/2015 11/24/2015 05/31/2016 11/29/2016 DEPSC Approval Date 12/16/2014 6/16/2015 12/15/2015 06/28/2016 12/20/2016 Effective Date 1/1/2015 7/1/2015 01/01/2016 07/01/2016 01/01/2017 Cumulative DSIC Rate 0.34 % 1.15 % 1.57 % 2.30 % 4.71 % Eligible Plant Improvements – Cumulative Dollars (in millions) $ 1.3 $ 4.6 $ 7.0 $ 10.3 $ 16.6 Eligible Plant Improvements – Installed Beginning Date 10/1/2014 10/1/2014 10/01/2014 10/01/2014 10/01/2014 Eligible Plant Improvements – Installed Ending Date 10/31/2014 4/30/2015 10/31/2015 04/30/2016 12/20/16

NET INCOME PER COMMON SHARE A34

NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2017
NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE [Abstract]
Shares Used in Computing Basic and Diluted Net Income per Share	Basic net income per share is based on the weighted average number of common shares outstanding. Diluted net income per share is based on the weighted average number of common shares outstanding, the potentially dilutive effect of employee stock options and restricted stock awards. The following table summarizes the shares used in computing basic and diluted net income per share: For the Year Ended December 31, 2017 2016 2015 (in thousands) Weighted average common shares outstanding during the period for Basic computation 9,175 9,098 8,960 Dilutive effect of employee stock options 67 63 45 Weighted average common shares outstanding during the period for Diluted computation 9,242 9,161 9,005

SELECTED CONSOLIDATED QUARTER35

SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2017
SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]
Quarterly Unaudited Consolidated Statements of Operations	The following table is derived from quarterly unaudited consolidated statements of operations for the years ended December 31, 2017 and 2016. Quarterly basic and diluted per share amounts do not add to the full year total due to rounding. First Quarter Second Quarter Third Quarter Fourth Quarter In thousands (except per share data) 2017 2016 2017 2016 2017 2016 2017 2016 Operating revenues $ 19,190 $ 18,449 $ 20,502 $ 19,395 $ 22,356 $ 21,828 $ 20,187 $ 19,417 Operating income $ 3,991 $ 3,853 $ 4,990 $ 4,669 $ 5,454 $ 5,945 $ 5,165 $ 4,352 Net income applicable to common stock $ 3,086 $ 2,830 $ 3,251 $ 3,041 $ 3,942 $ 4,360 $ 3,704 $ 2,723 Income per common share Basic $ 0.34 $ 0.28 $ 0.35 $ 0.33 $ 0.43 $ 0.48 $ 0.40 $ 0.30 Diluted $ 0.34 $ 0.28 $ 0.35 $ 0.33 $ 0.42 $ 0.48 $ 0.40 $ 0.30

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)Subsidiary	Dec. 31, 2016USD ($)	Dec. 31, 2015
Utility Subsidiary Accounting [Abstract]
Number of wholly owned subsidiaries | Subsidiary	5
Utility Plant [Abstract]
Capitalized rate of AFUDC	7.70%	8.10%	8.10%
Summary of utility plant comprises [Abstract]
Utility plant, gross	$ 577,447	$ 535,186
Less - accumulated depreciation	116,945	109,684
Utility plant, net	$ 460,502	$ 425,502
Depreciation and Amortization [Abstract]
Depreciation rates of water utility plant	2.27%	2.25%	2.29%
Minimum [Member]
Depreciation and Amortization [Abstract]
Amortization period of other deferred assets	20 years
Maximum [Member]
Depreciation and Amortization [Abstract]
Amortization period of other deferred assets	24 years
Property Held for Future Use [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	0 years
Utility plant, gross	$ 14,647	$ 14,815
Construction in Progress [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	0 years
Utility plant, gross	$ 12,700	6,674
Utility plant in service-Water [Member] | Mains [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	81 years
Utility plant, gross	$ 252,569	236,261
Utility plant in service-Water [Member] | Services [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	39 years
Utility plant, gross	$ 42,232	38,803
Utility plant in service-Water [Member] | Storage Tanks [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	76 years
Utility plant, gross	$ 24,729	24,108
Utility plant in service-Water [Member] | Meters [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	26 years
Utility plant, gross	$ 25,628	24,710
Utility plant in service-Water [Member] | Hydrants [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	60 years
Utility plant, gross	$ 13,760	12,870
Utility plant in service-Water [Member] | Intangible plant [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	0 years
Utility plant, gross	$ 140	140
Utility plant in service-Water [Member] | Source of supply plant [Member]
Summary of utility plant comprises [Abstract]
Utility plant, gross	$ 20,959	19,627
Utility plant in service-Water [Member] | Source of supply plant [Member] | Minimum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	45 years
Utility plant in service-Water [Member] | Source of supply plant [Member] | Maximum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	85 years
Utility plant in service-Water [Member] | Pumping and water treatment plant [Member]
Summary of utility plant comprises [Abstract]
Utility plant, gross	$ 81,180	78,542
Utility plant in service-Water [Member] | Pumping and water treatment plant [Member] | Minimum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	8 years
Utility plant in service-Water [Member] | Pumping and water treatment plant [Member] | Maximum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	62 years
Utility plant in service-Water [Member] | General plant [Member]
Summary of utility plant comprises [Abstract]
Utility plant, gross	$ 56,784	53,417
Utility plant in service-Water [Member] | General plant [Member] | Minimum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	3 years
Utility plant in service-Water [Member] | General plant [Member] | Maximum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	31 years
Utility plant in service-Wastewater [Member] | General plant [Member]
Summary of utility plant comprises [Abstract]
Utility plant, gross	$ 1,006	931
Utility plant in service-Wastewater [Member] | General plant [Member] | Minimum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	3 years
Utility plant in service-Wastewater [Member] | General plant [Member] | Maximum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	31 years
Utility plant in service-Wastewater [Member] | Treatment and Disposal Plant [Member]
Summary of utility plant comprises [Abstract]
Utility plant, gross	$ 17,421	15,613
Utility plant in service-Wastewater [Member] | Treatment and Disposal Plant [Member] | Minimum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	35 years
Utility plant in service-Wastewater [Member] | Treatment and Disposal Plant [Member] | Maximum [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	62 years
Utility plant in service-Wastewater [Member] | Collection Mains & Lift Stations [Member]
Summary of utility plant comprises [Abstract]
Estimated useful life	81 years
Utility plant, gross	$ 13,692	$ 8,675

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Part 2 (Details) - USD ($)	Jun. 28, 2017	May 03, 2017	May 04, 2016	Dec. 18, 2015	Jan. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 09, 2015
Amortization period of other regulatory expense [Abstract]
Depreciation and salary studies							5 years
Goodwill							50 years
Deferred acquisition costs							20 years
Franchise costs							80 years
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							$ 7,549,000	$ 3,374,000
Summary of other deferred assets net of amortization [Abstract]
Investment in Co Bank							3,358,000	3,198,000
Other							363,000	386,000
Other deferred assets							3,721,000	3,584,000
Regulatory Liabilities [Abstract]
Decrease in the net deferred income tax liability							23,500,000
Net regulatory liability amount							22,500,000
Regulatory Liabilities [Line Items]
Regulatory liabilities, net							$ 23,201,000	$ 1,022,000
Income Tax Disclosure [Line Items]
Percentage of limitation on deductable interest expense							30.00%
Federal corporate tax rate							34.00%	34.00%	34.00%
Stock Compensation Plans [Abstract]
Granted (in shares)							0	0	0
Number of share authorize under equity compensation plan (in shares)										331,500
Compensation costs							$ 423,000	$ 92,000	$ 183,000
Unrecognized expense related to non-vested awards of restricted shares granted							64,000
Summary of fair value of each option grant is estimated using the Black-Scholes-Merton option pricing model [Abstract]
Granted, restricted stock awards (in shares)			5,000
Fair market value (in dollars per share)			$ 27.70
Award vesting period			1 year
Accounts Receivable [Abstract]
Expense related to allowance for doubtful accounts							200,000	200,000
Summary of changes in entity's accounts receivable [Abstract]
Gross accounts receivable							9,185,000	8,059,000	6,627,000
Less allowance for doubtful accounts							288,000	263,000	277,000
Net accounts receivable							8,897,000	7,796,000	6,350,000
Summary of allowance for doubtful accounts [Abstract]
Beginning balance					$ 263,000	$ 288,000	263,000	277,000	250,000
Allowance adjustments							215,000	195,000	205,000
Recoveries							41,000	64,000	53,000
Write off of uncollectible accounts							(231,000)	(273,000)	(231,000)
Ending balance							$ 288,000	263,000	277,000
Cash and Cash Equivalents [Abstract]
Maximum maturity period of temporary cash investments considered as cash equivalents							3 months
Minimum [Member]
Amortization period of other regulatory expense [Abstract]
Amortization period of debt related cost					15 years
Maximum [Member]
Amortization period of other regulatory expense [Abstract]
Amortization period of debt related cost					25 years
Maryland [Member]
Amortization period of other regulatory expense [Abstract]
Regulatory rate proceedings							5 years
Delaware [Member]
Amortization period of other regulatory expense [Abstract]
Regulatory rate proceedings							2 years 6 months
Unrestricted Stock [Member] | 2015 Equity Compensation Plan [Member]
Summary of fair value of each option grant is estimated using the Black-Scholes-Merton option pricing model [Abstract]
Shares issued as fully vested unrestricted stock awards (in shares)				5,000
Fair market value (in dollars per share)				$ 27.38
Artesian Water [Member]
Regulatory Assets [Abstract]
Contributions to postretirement benefit plan							$ 37,000
Class A Stock [Member] | Unrestricted Stock [Member] | 2015 Equity Compensation Plan [Member]
Stock Compensation Plans [Abstract]
Compensation costs	$ 250,000
Summary of fair value of each option grant is estimated using the Black-Scholes-Merton option pricing model [Abstract]
Granted, restricted stock awards (in shares)	6,568
Fair market value (in dollars per share)	$ 38.06
Class A Stock [Member] | Restricted Stock [Member] | 2015 Equity Compensation Plan [Member]
Stock Compensation Plans [Abstract]
Compensation costs		$ 127,000					$ 47,000	92,000
Summary of fair value of each option grant is estimated using the Black-Scholes-Merton option pricing model [Abstract]
Granted, restricted stock awards (in shares)		5,000
Fair market value (in dollars per share)		$ 38.10
Award vesting period							1 year
Mountain Hill [Member]
Summary of other deferred assets net of amortization [Abstract]
Other							$ 300,000
Plan [Member]
Income Tax Disclosure [Line Items]
Federal corporate tax rate						21.00%
Postretirement Benefit Obligation [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities, net							112,000	149,000
Utility Plant Retirement Cost Obligation [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities, net							549,000	873,000
Deferred Income Taxes [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities, net							22,540,000	0
Postretirement Benefit Obligation [Member]
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							149,000	186,000
Deferred Income Taxes [Member]
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							416,000	431,000
Expense of Rate and Regulatory Proceedings [Member]
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							70,000	116,000
Debt Issuance Costs [Member]
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							5,965,000	1,648,000
Goodwill [Member]
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							303,000	310,000
Deferred Acquisition and Franchise Costs [Member]
Summary of regulatory assets net of amortization, comprise [Abstract]
Regulatory assets, net							646,000	683,000
Customer accounts receivable - water [Member]
Summary of changes in entity's accounts receivable [Abstract]
Gross accounts receivable							5,487,000	5,437,000	5,017,000
Contractual amounts due from developers and other [Member]
Summary of changes in entity's accounts receivable [Abstract]
Gross accounts receivable							$ 3,698,000	$ 2,622,000	$ 1,610,000
Federal [Member] | Minimum [Member]
Income Tax Contingency [Line Items]
Open tax year							2,015
Years under federal audit								2,012
Federal [Member] | Maximum [Member]
Income Tax Contingency [Line Items]
Open tax year							2,017
Years under federal audit								2,014
State [Member] | Minimum [Member]
Income Tax Contingency [Line Items]
Open tax year							2,014
State [Member] | Maximum [Member]
Income Tax Contingency [Line Items]
Open tax year							2,017

FAIR VALUE OF FINANCIAL INSTR38

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Carrying Amount [Member]
Long-term Financial Liabilities [Abstract]
Long-term debt	$ 106,931	$ 103,647
Estimated Fair Value [Member]
Long-term Financial Liabilities [Abstract]
Long-term debt	$ 110,524	$ 111,864

INCOME TAXES (Details)

INCOME TAXES (Details)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)Reserve	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Income Tax Disclosure [Line Items]
Federal corporate tax rate		34.00%	34.00%	34.00%
Decrease in the net deferred income tax liability		$ 23,500,000
Net benefit to continuing operations		1,000,000
Net regulatory liability amount		22,500,000
Income Tax Examination [Line Items]
Federal alternative minimum tax credit carry-forwards		0	$ 2,474,000	$ 3,971,000
Valuation allowance		$ 360,000	286,000	182,000
Number of reserves established for uncertain tax positions | Reserve		2
State income taxes [Abstract]
Current		$ 489,000	1,050,000	499,000
Deferred		1,368,000	860,000	1,299,000
Total state income tax expense		1,857,000	1,910,000	1,798,000
Federal income taxes [Abstract]
Current		(1,418,000)	1,799,000	2,168,000
Deferred		6,856,000	4,622,000	3,818,000
Total federal income tax expense		5,438,000	6,421,000	5,986,000
Reconciliation of effective tax rate [Abstract]
Income before federal and state income taxes		$ 21,278,000	$ 21,285,000	$ 19,088,000
Income before federal and state income taxes		100.00%	100.00%	100.00%
Amount computed at statutory rate		$ 7,234,000	$ 7,237,000	$ 6,490,000
Amount computed at statutory rate		34.00%	34.00%	34.00%
Reconciling Items [Abstract]
State income tax-net of federal tax benefit		$ 1,297,000	$ 1,327,000	$ 1,214,000
State income tax-net of federal tax benefit		6.10%	6.20%	6.40%
Federal Rate Change - FAS109		$ (957,000)	$ 0	$ 0
Federal Rate Change - FAS109		(4.50%)	0.00%	0.00%
Other		$ (279,000)	$ (233,000)	$ 80,000
Other		(1.30%)	(1.10%)	0.40%
Total income tax expense		$ 7,295,000	$ 8,331,000	$ 7,784,000
Total effective income tax rate		34.30%	39.10%	40.80%
Deferred tax assets related to [Abstract]
Federal alternative minimum tax credit carry-forwards		$ 0	$ 2,474,000	$ 3,971,000
Federal and state operating loss carry-forwards		1,094,000	752,000	675,000
Bad debt allowance		80,000	104,000	110,000
Valuation allowance		(360,000)	(286,000)	(182,000)
Stock options		207,000	452,000	415,000
Other		161,000	320,000	291,000
Total deferred tax assets		1,182,000	3,816,000	5,280,000
Deferred tax liabilities related to [Abstract]
Property plant and equipment basis differences		(52,629,000)	(70,711,000)	(66,508,000)
Bond retirement costs		(1,437,000)	0	0
Uncertain tax position		(145,000)	(80,000)	(247,000)
Expenses of rate proceedings		(8,000)	(19,000)	(213,000)
Property taxes		(500,000)	(663,000)	(527,000)
Other		(600,000)	(796,000)	(756,000)
Total deferred tax liabilities		(55,319,000)	(72,269,000)	(68,251,000)
Net deferred tax liability		(54,137,000)	(68,453,000)	(62,971,000)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense [Abstract]
Balance at beginning of year	$ 145,000	80,000	247,000
Additions based on tax positions related to the current year		118,000	23,000
Additions based on tax positions related to prior years		8,000	11,000
Reductions for tax positions of prior years		0	(201,000)
Settlements		0	0
Federal tax rate change		(61,000)
Lapses in Statutes of Limitations		0	0
Balance at end of year		$ 145,000	80,000	247,000
Minimum [Member]
Income Tax Examination [Line Items]
Operating Loss Carryforwards Expiration Period		2,019
Maximum [Member]
Income Tax Examination [Line Items]
Operating Loss Carryforwards Expiration Period		2,038
Valuation Allowance for Deferred Tax Assets [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning Of Period	$ 360,000	$ 286,000	182,000	65,000
Additions Charged to Costs and Expenses		74,000	104,000	117,000
Deductions		0	0	0
Balance at End of Period		360,000	$ 286,000	$ 182,000
Plan [Member]
Income Tax Disclosure [Line Items]
Federal corporate tax rate	21.00%
Reconciliation of effective tax rate [Abstract]
Amount computed at statutory rate	21.00%
Federal Authorities [Member]
Income Tax Examination [Line Items]
Federal alternative minimum tax credit carry-forwards		1,800,000
Tax deduction for qualifying capital expenditures		4,500,000
Deferred tax assets related to [Abstract]
Federal alternative minimum tax credit carry-forwards		1,800,000
State Authorities [Member]
Income Tax Examination [Line Items]
Net operating loss carry-forwards		$ 15,400,000

PREFERRED STOCK (Details)

PREFERRED STOCK (Details) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
PREFERRED STOCK [Abstract]
Preferred stock outstanding (in shares)	0	0
Preferred stock authorized (in shares)	100,000	100,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1

COMMON STOCK AND ADDITIONAL P41

COMMON STOCK AND ADDITIONAL PAID-IN CAPITAL (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
COMMON STOCK AND ADDITIONAL PAID-IN CAPITAL [Abstract]
Dividends reinvestment plan (in shares)	11,000	13,000	18,000
Dividend reinvestment plan	$ 389,000	$ 400,000	$ 384,000

DEBT (Details)

DEBT (Details)	12 Months Ended
	Dec. 31, 2017USD ($)Bond	Dec. 31, 2016USD ($)	Jan. 31, 2018USD ($)
Long-term debt consists of [Abstract]
Principal amount	$ 106,931,000	$ 103,647,000
Less: current maturities (principal amount)	1,344,000	1,316,000
Total long-term debt	105,587,000	102,331,000
Payments of principal amounts due during the next five years and thereafter [Abstract]
2,018	1,344,000
2,019	1,371,000
2,020	1,401,000
2,021	1,432,000
2,022	1,133,000
Thereafter	$ 100,251,000
Artesian Water [Member]
Line of Credit Facility [Line Items]
Weighted average interest rate paid on the lines of credit	2.28%
First Mortgage Bonds [Member]
Debt Instrument [Line Items]
Number of existing bonds | Bond	2
Long-term debt consists of [Abstract]
Principal amount	$ 99,600,000	95,600,000
Payments of principal amounts due during the next five years and thereafter [Abstract]
2,018	600,000
2,019	600,000
2,020	600,000
2,021	600,000
2,022	600,000
Thereafter	96,600,000
First Mortgage Bonds [Member] | Subsequent Event [Member]
Long-term debt consists of [Abstract]
Principal amount			$ 25,000,000
First Mortgage Bonds [Member] | Series O [Member]
Debt Instrument [Line Items]
Debt prepayment costs	$ 4,500,000
Interest rate, stated percentage	8.17%
Maturity date	Dec. 29, 2020
Long-term debt consists of [Abstract]
Principal amount	$ 0	20,000,000
First Mortgage Bonds [Member] | Series P [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	6.58%
Maturity date	Jan. 31, 2018
Long-term debt consists of [Abstract]
Principal amount	$ 25,000,000	25,000,000
First Mortgage Bonds [Member] | Series Q [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.75%
Maturity date	Dec. 1, 2043
Long-term debt consists of [Abstract]
Principal amount	$ 0	15,400,000
First Mortgage Bonds [Member] | Series R [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.96%
Maturity date	Dec. 31, 2028
Long-term debt consists of [Abstract]
Principal amount	$ 25,000,000	25,000,000
First Mortgage Bonds [Member] | Series S [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.45%
Maturity date	Dec. 31, 2033
Long-term debt consists of [Abstract]
Principal amount	$ 9,600,000	10,200,000
First Mortgage Bonds [Member] | Series T [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.24%
Maturity date	Dec. 20, 2036
Long-term debt consists of [Abstract]
Principal amount	$ 40,000,000	0
State revolving fund loans [Member]
Long-term debt consists of [Abstract]
Principal amount	7,331,000	8,047,000
Payments of principal amounts due during the next five years and thereafter [Abstract]
2,018	744,000
2,019	771,000
2,020	801,000
2,021	832,000
2,022	533,000
Thereafter	$ 3,651,000
State revolving fund loans [Member] | 4.48%, due 08/01/2021 [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	4.48%
Maturity date	Aug. 1, 2021
Long-term debt consists of [Abstract]
Principal amount	$ 1,190,000	1,456,000
State revolving fund loans [Member] | 3.57%, due 09/01/2023 [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.57%
Maturity date	Sep. 1, 2023
Long-term debt consists of [Abstract]
Principal amount	$ 558,000	640,000
State revolving fund loans [Member] | 3.64%, due 05/01/2025 [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.64%
Maturity date	May 1, 2025
Long-term debt consists of [Abstract]
Principal amount	$ 1,025,000	1,142,000
State revolving fund loans [Member] | 3.41%, due 02/01/2031 [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.41%
Maturity date	Feb. 1, 2031
Long-term debt consists of [Abstract]
Principal amount	$ 2,315,000	2,448,000
State revolving fund loans [Member] | 3.40%, due 07/01/2032 [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	3.40%
Maturity date	Jul. 1, 2032
Long-term debt consists of [Abstract]
Principal amount	$ 2,243,000	2,361,000
Citizens Bank [Member] | Artesian Resources [Member]
Line of Credit Facility [Line Items]
Line of credit	40,000,000
Available funds under this line of credit	$ 35,900,000
Expiration date of line of credit	May 25, 2018
Citizens Bank [Member] | LIBOR [Member] | Artesian Resources [Member]
Line of Credit Facility [Line Items]
Variable rate for credit facility	LIBOR
Interest rate	1.00%
CoBank [Member] | Artesian Resources [Member]
Line of Credit Facility [Line Items]
Line of credit	$ 20,000,000
Available funds under this line of credit	$ 14,500,000
CoBank [Member] | Artesian Water [Member]
Line of Credit Facility [Line Items]
Expiration date of line of credit	Jul. 20, 2018
Patronage refunds	$ 0.6	$ 0.7
Annual patronage refund rate	1.00%
CoBank [Member] | Artesian Water Maryland [Member]
Line of Credit Facility [Line Items]
Line of credit	$ 10,000,000
CoBank [Member] | LIBOR [Member] | Artesian Water [Member]
Line of Credit Facility [Line Items]
Variable rate for credit facility	LIBOR
Interest rate	1.50%

NON-UTILITY OPERATING REVENUE43

NON-UTILITY OPERATING REVENUE AND EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Public Utility, Property, Plant and Equipment [Line Items]
Non-utility operating revenue	$ 5,000	$ 4,686	$ 4,398
Non-utility operating expenses	2,777	2,602	2,305
Artesian Utility [Member]
Public Utility, Property, Plant and Equipment [Line Items]
Non-utility operating revenue	5,000	4,700	4,400
Non-utility operating expenses	$ 2,800	$ 2,600	$ 2,300

STOCK COMPENSATION PLANS (Detai

STOCK COMPENSATION PLANS (Details)	Jun. 28, 2017$ / sharesshares	May 03, 2017$ / sharesshares	May 04, 2016$ / sharesshares	Dec. 18, 2015$ / sharesshares	Dec. 31, 2017USD ($)Director$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of directors in committee | Director					3
Shares [Abstract]
Granted (in shares) | shares					0	0	0
Weighted Average Exercise [Abstract]
Total intrinsic value of options exercised | $					$ 1,198,000	$ 351,000	$ 379,000
Received cash from the exercise of options | $					957,000
Tax benefit realized during the period | $					1,400,000
Options Exercisable [Abstract]
Unrecognized expense related to non-vested option shares | $					64,000
Shares [Roll Forward]
Granted (in shares) | shares			5,000
Weighted Average Exercise Price [Abstract]
Fair market value (in dollars per share)			$ 27.70
Award vesting period			1 year
Intrinsic value of awards | $					$ 441,000
$15.26 - $18.61 [Member] | Employee and Director [Member]
Options Outstanding [Abstract]
Range of Exercise Price, Minimum (in dollars per shares)					$ 15.26
Range of Exercise Price, Maximum (in dollars per shares)					$ 18.61
Shares Outstanding (in shares) | shares					41,802
Weighted Average Remaining Life					1 year 11 months 26 days
Weighted Average Exercise Price (in dollars per shares)					$ 17.52
Aggregate Intrinsic Value | $					$ 879,409
Options Exercisable [Abstract]
Range of Exercise Price, Minimum (in dollars per shares)					$ 15.26
Range of Exercise Price, Maximum (in dollars per shares)					$ 18.61
Shares Exercisable (in shares) | shares					41,802
Weighted Average Remaining Life					1 year 11 months 26 days
Weighted Average Exercise Price (in dollars per shares)					$ 17.52
Aggregate Intrinsic Value | $					$ 879,409
$18.62 - $22.66 [Member] | Employee and Director [Member]
Options Outstanding [Abstract]
Range of Exercise Price, Minimum (in dollars per shares)					$ 18.62
Range of Exercise Price, Maximum (in dollars per shares)					$ 22.66
Shares Outstanding (in shares) | shares					135,000
Weighted Average Remaining Life					4 years 10 months 10 days
Weighted Average Exercise Price (in dollars per shares)					$ 20.64
Aggregate Intrinsic Value | $					$ 2,418,187
Options Exercisable [Abstract]
Range of Exercise Price, Minimum (in dollars per shares)					$ 18.62
Range of Exercise Price, Maximum (in dollars per shares)					$ 22.66
Shares Exercisable (in shares) | shares					135,000
Weighted Average Remaining Life					4 years 10 months 10 days
Weighted Average Exercise Price (in dollars per shares)					$ 20.64
Aggregate Intrinsic Value | $					$ 2,418,187
Non-vested Option [Member]
Options Exercisable [Abstract]
Unrecognized expense related to non-vested option shares | $					0
Restricted Stock Awards [Member] | 2015 Equity Compensation Plan [Member]
Options Exercisable [Abstract]
Unrecognized expense related to non-vested option shares | $					$ 63,700
Weighted Average Exercise Price [Abstract]
Award vesting period					3 months 29 days
Unrestricted Stock Awards [Member] | 2015 Equity Compensation Plan [Member]
Weighted Average Exercise Price [Abstract]
Shares issued as fully vested unrestricted stock awards (in shares) | shares				5,000
Fair market value (in dollars per share)				$ 27.38
Class A Stock [Member] | Stock Options [Member]
Shares [Abstract]
Outstanding at beginning of year (in shares) | shares					231,755	270,000	376,250
Granted (in shares) | shares					0	0	0
Exercised (in shares) | shares					(54,953)	(38,245)	(106,250)
Expired (in shares) | shares					0	0	0
Outstanding at end of year (in shares) | shares					176,802	231,755	270,000
Options exercisable at year end (in shares) | shares					176,802	231,755	270,000
Weighted Average Exercise [Abstract]
Outstanding at beginning of year (in dollars per shares)					$ 19.32	$ 19.34	$ 19.52
Granted, weighted average exercise price (in dollars per share)					0	0	0
Exercised, weighted average exercise price (in dollars per shares)					17.42	19.50	19.97
Expired, weighted average exercise price (in dollars per share)					0	0	0
Outstanding at end of year (in dollars per shares)					19.91	19.32	19.34
Options exercisable at year end (in dollars per shares)					$ 19.91	$ 19.32	$ 19.34
Class A Stock [Member] | Restricted Stock Awards [Member]
Shares [Roll Forward]
Outstanding at beginning of year (in shares) | shares					5,000	0	0
Granted (in shares) | shares					11,568	5,000	5,000
Vested/Released (in shares) | shares					(11,568)	0	(5,000)
Cancelled (in shares) | shares					0	0	0
Unvested Outstanding at end of year (in shares) | shares					5,000	5,000	0
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of year (in dollars per shares)					$ 27.70	$ 0
Granted (in dollars per shares)					38.08	27.70
Vested/Released (in dollars per shares)					33.58	0
Cancelled (in dollars per shares)					0	0
Unvested Outstanding at end of year (in dollars per shares)					$ 38.10	27.70	$ 0
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of year (in dollars per shares)						$ 0	0
Granted (in dollars per shares)							27.38
Vested/Released (in dollars per shares)							27.38
Cancelled (in dollars per shares)							0
Unvested Outstanding at end of year (in dollars per shares)							$ 0
Class A Stock [Member] | Restricted Stock Awards [Member] | 2015 Equity Compensation Plan [Member]
Shares [Roll Forward]
Granted (in shares) | shares	6,568	5,000	5,000
Weighted Average Exercise Price [Abstract]
Fair market value (in dollars per share)	$ 38.06	$ 38.10	$ 27.70
Award vesting period		1 year	1 year
Class A Stock [Member] | Unrestricted Stock Awards [Member] | 2015 Equity Compensation Plan [Member]
Shares [Roll Forward]
Granted (in shares) | shares	6,568
Weighted Average Exercise Price [Abstract]
Fair market value (in dollars per share)	$ 38.06

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details)	12 Months Ended
	Dec. 31, 2017USD ($)Retiree	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
401(k) Plan [Member] | Artesian Resources [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentages of contribution of eligible salaries and wages by Artesian Resources	2.00%
Percentages of matched employee contributions	6.00%
Entity contributions and administrative fees	$ 1,000,000	$ 900,000	$ 1,000,000
401(k) Plan [Abstract]
Gross pay rate of matched employee contributions	50.00%
Percentages of additional contribution the Company can make from eligible salaries and wages	3.00%
Percentages of additional contribution of eligible salaries and wages by Artesian Resources	1.00%		1.00%
Supplemental Pension Plan [Member] | Artesian Water [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentages of contribution of eligible salaries and wages by Artesian Resources	2.00%
Percentages of matched employee contributions	6.00%
Entity contributions and administrative fees	$ 190,000	227,000	$ 243,000
Postretirement Benefit Plan [Member] | Artesian Water [Member]
Postretirement Benefit Plan [Abstract]
Expense incurred under the plan	$ 37,000	80,000	$ 113,000
Number of eligible retirees | Retiree	3
Estimated post retirement liability	$ 149,000	$ 186,000
Expected contributions in next fiscal year by employer	$ 37,000

COMMITMENTS AND CONTINGENCIES46

COMMITMENTS AND CONTINGENCIES (Details) gal in Millions	1 Months Ended		12 Months Ended
	Jan. 31, 2018gal / d	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)agal	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Summary of minimum annual rental payments related to operating leases [Abstract]
2,018			$ 78,000
2,019			56,000
2,020			57,000
2,021			58,000
2,022			60,000
2023 through 2043			1,336,000
Total			1,645,000
Summary of minimum annual purchase commitments for all interconnection agreements [Abstract]
2,018			3,824,000
2,019			3,824,000
2,020			3,835,000
2,021			3,824,000
Total			15,307,000
Expenses for purchased water			$ 4,400,000	$ 4,000,000	$ 4,000,000
Artesian Water [Member]
Leases [Abstract]
Operating lease period			33 years
Rental payments			$ 16,300	16,100	16,000
Interconnections [Abstract]
Multiplier to estimate minimum purchase requirements for the year | gal			3
Minimum reduced purchase requirements of water | gal			1,095
Other Commitments [Abstract]
Agreement period		3 years				3 years	3 years
Commitment amount		$ 1,300,000				$ 113,000	$ 804,000
Tank painting expense			$ 695,000	528,000	329,000
Summary of other commitment [Abstract]
2,018			3,851,000
2,019			1,535,000
2,020			550,000
Total			$ 5,936,000
Artesian Resources [Member]
Leases [Abstract]
Easement agreement period			40 years
Easement payments			$ 37,000	36,000	35,000
Artesian Wastewater [Member]
Leases [Abstract]
Rental payments			$ 44,000	$ 44,000	$ 43,000
Adjustment Factor			2.00%
Area of land use as per perpetual agreement (in acres) | a			460
Minimum rentals payment per year			$ 40,000
Termination Period			180 days
Artesian Water Maryland [Member] | Subsequent Event [Member]
Interconnections [Abstract]
Minimum purchase requirements of water | gal / d	35,000

GEOGRAPHIC CONCENTRATION OF C47

GEOGRAPHIC CONCENTRATION OF CUSTOMERS (Details)	12 Months Ended
	Dec. 31, 2017CountyCustomer
Concentration Risk [Line Items]
Number of counties in which water utility service provided | County	3
Artesian Water [Member]
Concentration Risk [Line Items]
Number of customers	84,200
Artesian Water Maryland [Member]
Concentration Risk [Line Items]
Number of customers	2,300
Artesian Water Pennsylvania [Member]
Concentration Risk [Line Items]
Number of customers	40
Artesian Wastewater [Member]
Concentration Risk [Line Items]
Number of customers	1,800

REGULATORY PROCEEDINGS (Details

REGULATORY PROCEEDINGS (Details) - USD ($)	Nov. 29, 2016	May 31, 2016	Nov. 24, 2015	Aug. 18, 2015	May 28, 2015	Nov. 26, 2014	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Proceedings [Abstract]
Increase Amount Based On Eligible Plant Improvements Since Last Rate Increase	$ 47,100	$ 23,000	$ 15,700		$ 11,500	$ 3,400
Delaware [Member]
Rate Proceedings [Abstract]
Temporary annual rate increase subject to 15% gross water sales limitation							$ 2,500,000
Percentage of gross water sales							15.00%
Period to complete rate case by law							7 months
Percentage of rate relief allowed should a rate case not complete							15.00%
Other Proceedings [Abstract]
Distribution System Improvement Charge rate increase applied between base rate filings							7.50%
Distribution System Improvement Charge rate increase within a 12-month period							5.00%
Artesian Water [Member]
Rate Proceedings [Abstract]
Percentage of revenue increase requested for new rates				15.90%
Increase in annual revenue expected from rate increase application approval				$ 10,000,000
Permanent rate increase in revenue				$ 6,000,000
Percentage of Permanent Rate Increases on an annualized basis (in hundredths)				9.50%
An incremental increase to customers above the DSIC rate previously in effect				6.20%
Other Proceedings [Abstract]
Revenue earned in DSIC rate increases							$ 3,160,000	$ 1,306,000	$ 520,000

NET INCOME PER COMMON SHARE A49

NET INCOME PER COMMON SHARE AND EQUITY PER COMMON SHARE (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Shares used in computing basic and diluted net income per share [Abstract]
Weighted average common shares outstanding during the period for Basic computation (in shares)	9,175,000	9,098,000	8,960,000
Dilutive effect of employee stock options and awards (in shares)	67,000	63,000	45,000
Weighted average common shares outstanding during the period for Diluted computation (in shares)	9,242,000	9,161,000	9,005,000
Class of Stock [Line Items]
Shares excluded from calculations of diluted net income per share (in shares)		0
Equity per common share (in dollars per share)	$ 15.98	$ 15.28	$ 14.77
Common Stock [Member] | Class A Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	15,000,000	15,000,000	15,000,000
Common stock, shares issued (in shares)	8,333,454	8,246,033	8,176,213
Common stock, shares outstanding (in shares)	8,333,454	8,246,033	8,176,213
Common stock, par value (in dollars per share)	$ 1
Common stock, shares issued during period (in shares)	87,421	69,820	145,536
Common Stock [Member] | Class B Stock [Member]
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	1,040,000	1,040,000	1,040,000
Common stock, shares issued (in shares)	881,452	881,452	881,452
Common stock, shares outstanding (in shares)	881,452	881,452	881,452
Common stock, par value (in dollars per share)	$ 1
Stock Option [Member]
Class of Stock [Line Items]
Shares excluded from calculations of diluted net income per share (in shares)	0
Restricted Stock [Member]
Class of Stock [Line Items]
Shares excluded from calculations of diluted net income per share (in shares)	3,460	0

SELECTED CONSOLIDATED QUARTER50

SELECTED CONSOLIDATED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Summary of quarterly unaudited consolidated statements of operations information [Abstract]
Operating revenues	$ 20,187	$ 22,356	$ 20,502	$ 19,190	$ 19,417	$ 21,828	$ 19,395	$ 18,449	$ 82,235	$ 79,089	$ 77,024
Operating income	5,165	5,454	4,990	3,991	4,352	5,945	4,669	3,853	19,600	18,819	17,582
Net income applicable to common stock	$ 3,704	$ 3,942	$ 3,251	$ 3,086	$ 2,723	$ 4,360	$ 3,041	$ 2,830	$ 13,983	$ 12,954	$ 11,305
Income per common share [Abstract]
Basic (in dollars per share)	$ 0.40	$ 0.43	$ 0.35	$ 0.34	$ 0.30	$ 0.48	$ 0.33	$ 0.28	$ 1.52	$ 1.42	$ 1.26
Diluted (in dollars per share)	$ 0.40	$ 0.42	$ 0.35	$ 0.34	$ 0.30	$ 0.48	$ 0.33	$ 0.28	$ 1.51	$ 1.41	$ 1.26

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	1 Months Ended				12 Months Ended
	Oct. 31, 2017	Sep. 30, 2017	Feb. 28, 2017	Jul. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Stock ownership required to be disclosed, minimum					5.00%
W.F. Construction [Member]
Related Party Transaction [Line Items]
Agreements to modify water treatment plants	$ 60,000	$ 36,000	$ 100,000	$ 131,000
Amount paid to related party					$ 183,000	$ 137,000
Amount of liability due to related party					$ 0	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	1 Months Ended
	Jan. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Principal amount		$ 106,931	$ 103,647
First Mortgage Bonds [Member]
Subsequent Event [Line Items]
Principal amount		$ 99,600	$ 95,600
Subsequent Event [Member] | First Mortgage Bonds [Member]
Subsequent Event [Line Items]
Principal amount	$ 25,000
Subsequent Event [Member] | First Mortgage Bonds [Member] | Series U [Member]
Subsequent Event [Line Items]
Principal amount	$ 25,000
Maturity date	Jan. 31, 2038
Interest rate, stated percentage	4.71%