2023 Q4 Form 10-K Financial Statement

#000086311024000011 Filed on March 18, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $24.54M $98.86M
YoY Change -2.28% -0.04%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.453M $13.34M
YoY Change 5.6% 5.67%
% of Gross Profit
Operating Expenses $17.84M $76.42M
YoY Change -10.72% 1.9%
Operating Profit $22.45M
YoY Change -6.11%
Interest Expense -$2.196M $9.156M
YoY Change -4.4% 7.69%
% of Operating Profit 40.79%
Other Income/Expense, Net $162.0K $1.407M
YoY Change -452.17% 11.23%
Pretax Income $4.672M $23.05M
YoY Change 44.87% -3.47%
Income Tax $1.192M $6.348M
% Of Pretax Income 25.51% 27.54%
Net Earnings $3.480M $16.70M
YoY Change 49.68% -7.22%
Net Earnings / Revenue 14.18% 16.89%
Basic Earnings Per Share $1.67
Diluted Earnings Per Share $0.34 $1.67
COMMON SHARES
Basic Shares Outstanding 10.02M
Diluted Shares Outstanding 10.02M

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.505M $2.505M
YoY Change 91.37% 91.37%
Cash & Equivalents $2.505M $2.505M
Short-Term Investments
Other Short-Term Assets $7.500M $7.500M
YoY Change 12.78% 12.78%
Inventory $5.983M $5.983M
Prepaid Expenses
Receivables $12.83M $12.83M
Other Receivables $1.799M $1.799M
Total Short-Term Assets $30.62M $30.62M
YoY Change 10.12% 10.12%
LONG-TERM ASSETS
Property, Plant & Equipment $3.693M $718.5M
YoY Change -1.26% 6.88%
Goodwill $1.900M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.504M $15.54M
YoY Change -19.29% -11.45%
Total Long-Term Assets $736.2M $736.2M
YoY Change 6.39% 6.39%
TOTAL ASSETS
Total Short-Term Assets $30.62M $30.62M
Total Long-Term Assets $736.2M $736.2M
Total Assets $766.8M $766.8M
YoY Change 6.54% 6.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.697M $9.697M
YoY Change -11.27% -11.27%
Accrued Expenses $3.519M $5.803M
YoY Change -17.12% 10.81%
Deferred Revenue $2.983M
YoY Change 19.85%
Short-Term Debt $9.000K $9.000K
YoY Change -99.96% -99.96%
Long-Term Debt Due $2.235M $2.235M
YoY Change 11.58% 11.58%
Total Short-Term Liabilities $22.41M $22.41M
YoY Change -49.14% -49.14%
LONG-TERM LIABILITIES
Long-Term Debt $178.3M $178.3M
YoY Change 1.53% 1.53%
Other Long-Term Liabilities $277.3M $277.3M
YoY Change 7.65% 7.65%
Total Long-Term Liabilities $87.78M $455.6M
YoY Change -0.1% 5.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.41M $22.41M
Total Long-Term Liabilities $87.78M $455.6M
Total Liabilities $110.2M $536.4M
YoY Change -16.48% 0.86%
SHAREHOLDERS EQUITY
Retained Earnings $76.74M
YoY Change 7.66%
Common Stock $10.29M
YoY Change 8.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $230.4M $230.4M
YoY Change
Total Liabilities & Shareholders Equity $766.8M $766.8M
YoY Change 6.54% 6.54%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $3.480M $16.70M
YoY Change 49.68% -7.22%
Depreciation, Depletion And Amortization $3.453M $13.34M
YoY Change 5.6% 5.67%
Cash From Operating Activities $8.491M $31.85M
YoY Change -1181.66% 31.26%
INVESTING ACTIVITIES
Capital Expenditures $13.34M $62.18M
YoY Change 12.82% 28.24%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $23.00K $99.00K
YoY Change 43.75% -101.58%
Cash From Investing Activities -$13.32M -$62.08M
YoY Change 12.78% 13.37%
FINANCING ACTIVITIES
Cash Dividend Paid $11.24M
YoY Change 8.94%
Common Stock Issuance & Retirement, Net $37.07M
YoY Change 1673.83%
Debt Paid & Issued, Net $2.010M
YoY Change 22.34%
Cash From Financing Activities 872.0K 31.42M
YoY Change -93.68% -0.91%
NET CHANGE
Cash From Operating Activities 8.491M 31.85M
Cash From Investing Activities -13.32M -62.08M
Cash From Financing Activities 872.0K 31.42M
Net Change In Cash -3.953M 1.196M
YoY Change -429.14% -1.73%
FREE CASH FLOW
Cash From Operating Activities $8.491M $31.85M
Capital Expenditures $13.34M $62.18M
Free Cash Flow -$4.848M -$30.33M
YoY Change -61.55% 25.22%

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CY2023 artna Minimum Number Of Days Due For Accounts Receivable From Service Line Protection Plan Customer
MinimumNumberOfDaysDueForAccountsReceivableFromServiceLineProtectionPlanCustomer
P25D
CY2023 artna Minimum Number Of Days Customers Services Invoiced In Advance
MinimumNumberOfDaysCustomersServicesInvoicedInAdvance
P30D
CY2023 artna Other Operating Revenue Not In Scope Of Asc606
OtherOperatingRevenueNotInScopeOfASC606
1591000
CY2022 artna Other Operating Revenue Not In Scope Of Asc606
OtherOperatingRevenueNotInScopeOfASC606
1881000
CY2021 artna Other Operating Revenue Not In Scope Of Asc606
OtherOperatingRevenueNotInScopeOfASC606
2230000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98861000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
98897000
CY2023Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P66Y
CY2023 artna Percentage Of Lessee Operating Lease Increase In Annual Lease Payments
PercentageOfLesseeOperatingLeaseIncreaseInAnnualLeasePayments
0.03
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
503000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
466000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
35000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
35000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
35000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
35000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
29000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1429000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1598000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1086000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
512000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
23047000
CY2022 artna Income Before Federal And State Income Taxes Percentage
IncomeBeforeFederalAndStateIncomeTaxesPercentage
1
CY2021 artna Income Before Federal And State Income Taxes Percentage
IncomeBeforeFederalAndStateIncomeTaxesPercentage
1
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
4840000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
5014000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1918000
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.083
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1696000
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.071
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1600000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.071
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5878000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
600000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
92000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
116000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
47000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
47000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
48000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
28000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
318000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
513000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
56012000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
52565000
CY2023Q4 artna Deferred Tax Liabilities Bond Retirement Costs
DeferredTaxLiabilitiesBondRetirementCosts
982000
CY2022Q4 artna Deferred Tax Liabilities Bond Retirement Costs
DeferredTaxLiabilitiesBondRetirementCosts
1058000
CY2023Q4 artna Deferred Tax Liability Property Taxes
DeferredTaxLiabilityPropertyTaxes
624000
CY2022Q4 artna Deferred Tax Liability Property Taxes
DeferredTaxLiabilityPropertyTaxes
609000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
833000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
58699000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
55065000
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
58381000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
54552000
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2023 artna Number Of Directors In Committee
NumberOfDirectorsInCommittee
3
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
736000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
148000
CY2023 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
410000
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
272600
CY2023Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
870000
CY2023Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
881000
CY2023Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
881000
CY2023Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
57000
CY2023Q4 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
57000
CY2022 artna Expenses For Purchased Water
ExpensesForPurchasedWater
1800000
CY2021 artna Expenses For Purchased Water
ExpensesForPurchasedWater
4300000
CY2023 artna Number Of Counties In Which Water Utility Service Provided
NumberOfCountiesInWhichWaterUtilityServiceProvided
3
CY2020Q4 artna Percentage Of Distribution System Improvement Charge Rate Increase Application Filed By Company To Regulatory
PercentageOfDistributionSystemImprovementChargeRateIncreaseApplicationFiledByCompanyToRegulatory
0.075
CY2020Q4 artna Increase Amount Based On Eligible Plant Improvements Since Last Rate Increase
IncreaseAmountBasedOnEligiblePlantImprovementsSinceLastRateIncrease
43100000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10018000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9462000
CY2023 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4000
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
19000
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
32000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10022000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9481000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9426000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
34000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
32000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
467000
CY2023 artna Effective Income Tax Rate Reconciliation Regulatory Liability Adjustment Amount
EffectiveIncomeTaxRateReconciliationRegulatoryLiabilityAdjustmentAmount
-449000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
1081000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
137000
CY2023Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#OtherLiabilitiesCurrent
CY2023Q4 us-gaap Operating Lease Liability Noncurrent Statement Of Financial Position Extensible List
OperatingLeaseLiabilityNoncurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2023#OperatingLeaseLiabilityNoncurrent
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
668031000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1309000
CY2022Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
1632000
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
1586000
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
4702000
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2269000
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2186000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2878000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
30617000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1052000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
990000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3693000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3740000
CY2023Q4 us-gaap Goodwill
Goodwill
1939000
CY2022Q4 us-gaap Goodwill
Goodwill
1939000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
506000
CY2023Q4 us-gaap Regulatory Assets
RegulatoryAssets
7289000
CY2022Q4 us-gaap Regulatory Assets
RegulatoryAssets
7274000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
143369000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
76743000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
71286000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
230397000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
187930000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
178307000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
175619000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
503000
CY2023Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
25676000
CY2022Q4 us-gaap Regulatory Liabilities
RegulatoryLiabilities
28721000
CY2022 us-gaap Operating Expenses
OperatingExpenses
74991000
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1407000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1265000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1302000
CY2021 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
2125000
CY2023 artna Income Loss From Continuing Operations Before Interest Expense
IncomeLossFromContinuingOperationsBeforeInterestExpense
25855000
CY2022 artna Income Loss From Continuing Operations Before Interest Expense
IncomeLossFromContinuingOperationsBeforeInterestExpense
26500000
CY2021 artna Income Loss From Continuing Operations Before Interest Expense
IncomeLossFromContinuingOperationsBeforeInterestExpense
24419000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
16827000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
16827000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13335000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
12620000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11885000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3813000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2282000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2803000
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
254000
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
6000
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-28000
CY2022 us-gaap Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
-697000
CY2023 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
419000
CY2023 us-gaap Increase Decrease In Regulatory Liabilities
IncreaseDecreaseInRegulatoryLiabilities
-3168000
CY2022 us-gaap Increase Decrease In Regulatory Liabilities
IncreaseDecreaseInRegulatoryLiabilities
6799000
CY2021 us-gaap Increase Decrease In Regulatory Liabilities
IncreaseDecreaseInRegulatoryLiabilities
-535000
CY2023 artna Revenue Reserved For Refund
RevenueReservedForRefund
0
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-476000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
545000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
270000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
24265000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31310000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
62177000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
48483000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40814000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
90000
CY2023 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-34000
CY2022 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
13000
CY2021 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-75000
CY2023 artna Net Advances And Contributions In Aid Of Construction
NetAdvancesAndContributionsInAidOfConstruction
24747000
CY2022 artna Net Advances And Contributions In Aid Of Construction
NetAdvancesAndContributionsInAidOfConstruction
17494000
CY2021 artna Net Advances And Contributions In Aid Of Construction
NetAdvancesAndContributionsInAidOfConstruction
17059000
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
37073000
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2090000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
8430000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
5181000
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
0
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
33345000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
0
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
0
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
280000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
0
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
0
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
0
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
0
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
36597000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
0
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities
0
CY2023Q4 artna Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Remaining Purchase Price
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRemainingPurchasePrice
0
CY2022Q4 artna Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Remaining Purchase Price
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRemainingPurchasePrice
1569000
CY2021Q4 artna Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Remaining Purchase Price
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRemainingPurchasePrice
0
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Financial Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
0
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Financial Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
25597000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Financial Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities
0
CY2023 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0
CY2022 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
6621000
CY2021 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0
CY2023 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
0
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
230397000
CY2023Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
899454000
CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Plant In Service
PublicUtilitiesPropertyPlantAndEquipmentPlantInService
840985000
CY2023Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
185170000
CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Accumulated Depreciation
PublicUtilitiesPropertyPlantAndEquipmentAccumulatedDepreciation
172954000
CY2022Q4 us-gaap Public Utilities Property Plant And Equipment Net
PublicUtilitiesPropertyPlantAndEquipmentNet
668031000
CY2023 artna Depreciation Rates Of Water Utility Plant
DepreciationRatesOfWaterUtilityPlant
0.0213
CY2022 artna Depreciation Rates Of Water Utility Plant
DepreciationRatesOfWaterUtilityPlant
0.0216
CY2021 artna Depreciation Rates Of Water Utility Plant
DepreciationRatesOfWaterUtilityPlant
0.0217
CY2023 artna Amortization Period Of Deferred Contract Costs And Other
AmortizationPeriodOfDeferredContractCostsAndOther
P5Y
CY2023Q4 us-gaap Regulatory Asset Amortization Period
RegulatoryAssetAmortizationPeriod
P5Y
CY2023 artna Amortization Period Of Deferred Costs Affiliated Interest Agreement
AmortizationPeriodOfDeferredCostsAffiliatedInterestAgreement
P20Y
CY2023 artna Amortization Period Goodwill
AmortizationPeriodGoodwill
P50Y
CY2023 artna Amortization Period Of Deferred Acquisition Costs
AmortizationPeriodOfDeferredAcquisitionCosts
P20Y
CY2023 artna Amortization Period Of Deferred Franchise Costs
AmortizationPeriodOfDeferredFranchiseCosts
P80Y
CY2023Q4 us-gaap Regulatory Assets
RegulatoryAssets
7289000
CY2022Q4 us-gaap Regulatory Assets
RegulatoryAssets
7274000
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023Q4 us-gaap Goodwill
Goodwill
1900000
CY2023Q4 us-gaap Goodwill
Goodwill
1900000
CY2023Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
5882000
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
5351000
CY2023Q4 artna Settlement Agreement Receivable Long Terrm
SettlementAgreementReceivableLongTerrm
2496000
CY2022Q4 artna Settlement Agreement Receivable Long Terrm
SettlementAgreementReceivableLongTerrm
4991000
CY2023Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
126000
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
194000
CY2023Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
8504000
CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
10536000
CY2022Q4 artna Refund For Contributions In Aid Of Construction Due To Tax Status Change
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ARTESIAN RESOURCES CORP
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<div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Reclassification</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Certain accounts in the prior year financial statements have been reclassified for comparative purposes to conform with the presentation in the current year financial statements.  These reclassifications had no effect on net income or stockholders’ equity.</div>
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<div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Use of Estimates in the Preparation of Consolidated Financial Statements</div> <div><br/> </div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The consolidated financial statements were prepared in conformity with generally accepted accounting principles in the U.S., which require management to make certain estimates and assumptions regarding the reported amounts of assets and liabilities including unbilled revenues, credit losses and reserves for bad debt, regulatory asset recovery, lease agreements, goodwill 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 estimates.</div> <div><br/> </div> <div style="text-align: justify; margin-right: 0.1pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">All additions to utility plant are recorded at cost.  Business combinations pursuant to ASC Topic 805 may result in a purchase price allocation and the acquired assets are required to be evaluated by the applicable regulatory agency.  Artesian Wastewater acquired TESI in January 2022 and Artesian Water purchased substantially all of the water operating assets from the Town of Clayton in May 2022.  On December 31, 2022, the fair value determinations for TESI and the water operating assets acquired from the Town of Clayton were finalized.</div>
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