Artesian Resources Corporation (ARTNA) financial statements (2022 and earlier)

Company profile

Business Address 664 CHURCHMANS RD
NEWARK, DE 19702
State of Incorp. DE
Fiscal Year End December 31
SIC 4941 - Water Supply (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9228596293952226209
Cash and cash equivalents9228596293952226209
Receivables12,17711,9578,14310,37210,3249,1997,885
Prepaid expense2,3061,8911,9541,8701,7951,6691,591
Deferred costs 312289321363386421
Deferred tax assets   815
Other undisclosed current assets4,5853,4313,2253,2625,5513,1553,523
Total current assets:19,16017,61914,20716,11818,98514,63514,444
Noncurrent Assets
Operating lease, right-of-use asset451460480
Property, plant and equipment3,7513,7963,8123,8493,8823,8813,956
Intangible assets, net (including goodwill)247      
Goodwill247      
Other noncurrent assets5,0975,3094,2573,9313,7213,5845,191
Other undisclosed noncurrent assets596,505566,034537,612505,932   
Total noncurrent assets:606,051575,599546,161513,7127,6037,4659,147
Other undisclosed assets    468,051428,876408,035
TOTAL ASSETS:625,211593,218560,368529,830494,639450,976431,626
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15,65710,92212,46212,87313,5467,8417,299
Accounts payable10,2066,3418,1768,1878,8535,5324,914
Accrued liabilities4,5343,4143,1133,9022,8881,3091,254
Employee-related liabilities      99
Taxes payable 237343    
Interest and dividends payable9179308307841,8051,0001,032
Deferred revenue2,2732,060 
Debt1,6211,8621,7401,8421,6481,3481,835
Customer refund liability   3,298   
Deferred tax liabilities   815
Customer advances and deposits969864704
Contract with customer, liability1,044
Other liabilities1,4482,0671,9462,7322,6882,1452,177
Other undisclosed current liabilities26,70326,8139,45115,9429,6107,13010,388
Total current liabilities:47,70243,72425,59937,73128,46119,32823,218
Noncurrent Liabilities
Long-term debt and lease obligation440432450    
Operating lease, liability440432450
Liabilities, other than long-term debt57,88455,36458,17062,15885,66178,18872,583
Customer advances or deposits7,7978,1698,752
Deferred revenue and credits526544562
Deferred revenue4,2954,5785,421
Contract with customer, liability6,596
Accumulated deferred investment tax credit456473490508
Asset retirement obligations     873883
Deferred tax liabilities, net55,05454,13768,45362,156
Deferred income tax liabilities53,13350,31352,259
Liability, pension and other postretirement and postemployment benefits    23,201149230
Other undisclosed noncurrent liabilities21,26021,68122,24622,813   
Total noncurrent liabilities:79,58477,47780,86684,97185,66178,18872,583
Total liabilities:127,286121,201106,465122,702114,12297,51695,801
Stockholders' equity
Stockholders' equity attributable to parent178,010169,426160,268153,251146,644139,023132,331
Common stock9,4149,3579,2929,2509,2159,1279,058
Additional paid in capital104,989103,463101,811100,63999,52697,48095,631
Retained earnings63,60756,60649,16543,36237,90332,41627,642
Total stockholders' equity:178,010169,426160,268153,251146,644139,023132,331
Other undisclosed liabilities and equity319,915302,591293,635253,877233,873214,437203,494
TOTAL LIABILITIES AND EQUITY:625,211593,218560,368529,830494,639450,976431,626

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues90,85988,14183,59580,41182,23579,08977,024
Gross profit:90,85988,14183,59580,41182,23579,08977,024
Operating expenses(68,565)(65,846)(63,670)(61,456)(62,635)(60,270)(59,442)
Operating income:22,29422,29519,92518,95519,60018,81917,582
Nonoperating income2,6812,1412,0241,575560779721
Public utilities, allowance for funds used during construction, additions8231,1701,410622334222249
Public utilities, allowance for funds used during construction, capitalized cost of equity556      
Other nonoperating income1,302971614953226557472
Interest and debt expense(7,592)(7,619)(7,024)(6,252)(6,177)(6,644)(6,998)
Other undisclosed income from continuing operations before equity method investments, income taxes 7,6197,0246,2526,1776,6446,998
Income from continuing operations before equity method investments, income taxes:17,38324,43621,94920,53020,16019,59818,303
Other undisclosed income (loss) from continuing operations before income taxes (1,935)(1,843)(1,260)1,1181,687785
Income from continuing operations before income taxes:17,38322,50120,10619,27021,27821,28519,088
Income tax expense(5,737)(5,684)(5,181)(4,991)(7,295)(8,331)(7,784)
Income before gain (loss) on sale of properties:11,64616,81714,92514,27913,98312,95411,304
Other undisclosed net income12,773      
Net income:24,41916,81714,92514,27913,98312,95411,304
Other undisclosed net income (loss) attributable to parent(7,592)  (1)  1
Net income available to common stockholders, diluted:16,82716,81714,92514,27813,98312,95411,305

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:24,41916,81714,92514,27913,98312,95411,304
Comprehensive income, net of tax, attributable to parent:24,41916,81714,92514,27913,98312,95411,304

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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