The York Water Company (YORW) 10-Q3 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-34245
Entity Registrant Name	YORK WATER CO
Entity Central Index Key	0000108985
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-1242500
Entity Address, Address Line One	130 East Market Street
Entity Address, City or Town	York
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17401
City Area Code	717
Local Phone Number	845-3601
Title of 12(b) Security	Common Stock, No par value
Trading Symbol	YORW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		14,321,761

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
UTILITY PLANT, at original cost	$ 598,536	$ 549,141
Plant acquisition adjustments	(9,331)	(9,178)
Accumulated depreciation	(115,493)	(108,758)
Net utility plant	473,712	431,205
OTHER PHYSICAL PROPERTY, net of accumulated depreciation of $484 in 2023 and $463 in 2022	1,580	696
CURRENT ASSETS:
Cash and cash equivalents	1	1
Accounts receivable, net of reserves of $875 in 2023 and $855 in 2022	7,354	6,701
Unbilled revenues	3,249	3,290
Recoverable income taxes	578	882
Materials and supplies inventories, at cost	3,225	2,335
Prepaid expenses	1,703	1,025
Total current assets	16,110	14,234
OTHER LONG-TERM ASSETS:
Prepaid pension cost	19,244	17,090
Note receivable	255	255
Deferred regulatory assets	46,165	42,545
Other assets	4,687	4,570
Total other long-term assets	70,351	64,460
Total Assets	561,753	510,595
COMMON STOCKHOLDERS' EQUITY:
Common stock, no par value, authorized 46,500,000 shares, issued and outstanding 14,320,737 shares in 2023 and 14,285,584 shares in 2022	135,695	134,220
Retained earnings	82,012	72,963
Total common stockholders' equity	217,707	207,183
PREFERRED STOCK, authorized 500,000 shares, no shares issued	0	0
LONG-TERM DEBT	167,769	139,465
COMMITMENTS
CURRENT LIABILITIES:
Accounts payable	12,276	10,766
Dividends payable	2,639	2,628
Accrued compensation and benefits	1,589	1,541
Accrued interest	1,628	965
Deferred regulatory liabilities	596	593
Other accrued expenses	403	488
Total current liabilities	19,131	16,981
DEFERRED CREDITS:
Customers' advances for construction	18,105	14,911
Deferred income taxes	53,639	47,901
Deferred employee benefits	3,747	3,725
Deferred regulatory liabilities	39,051	37,448
Other deferred credits	303	680
Total deferred credits	114,845	104,665
Contributions in aid of construction	42,301	42,301
Total Stockholders' Equity and Liabilities	$ 561,753	$ 510,595

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Other physical property, accumulated depreciation	$ 484	$ 463
CURRENT ASSETS:
Accounts receivables, reserves	$ 875	$ 855
COMMON STOCKHOLDERS' EQUITY:
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized (in shares)	46,500,000	46,500,000
Common stock, issued (in shares)	14,320,737	14,285,584
Common stock, outstanding (in shares)	14,320,737	14,285,584
Preferred stock, authorized (in shares)	500,000	500,000
Preferred stock, issued (in shares)	0	0

Statements of Income (Unaudited

Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Statements of Income (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statements of Income [Abstract]
OPERATING REVENUES:	$ 18,767	$ 15,811	$ 52,935	$ 44,950
OPERATING EXPENSES:
Operation and maintenance	4,471	3,746	12,688	10,112
Administrative and general	2,605	2,328	8,028	7,564
Depreciation and amortization	2,944	2,572	8,777	7,545
Taxes other than income taxes	314	309	1,075	1,001
Operating expenses	10,334	8,955	30,568	26,222
Operating income	8,433	6,856	22,367	18,728
OTHER INCOME (EXPENSES):
Interest on debt	(1,850)	(1,204)	(5,041)	(3,706)
Allowance for funds used during construction	1,131	382	2,724	902
Other pension costs	(239)	(318)	(842)	(956)
Other income (expenses), net	(68)	(117)	(368)	(546)
Other income (expenses)	(1,026)	(1,257)	(3,527)	(4,306)
Income before income taxes	7,407	5,599	18,840	14,422
Income tax (benefit) expense	(161)	(82)	1,095	(147)
Net Income	$ 7,568	$ 5,681	$ 17,745	$ 14,569
Basic Earnings Per Share (in dollars per share)	$ 0.53	$ 0.4	$ 1.24	$ 1.05
Diluted Earnings Per Share (in dollars per share)	$ 0.53	$ 0.4	$ 1.24	$ 1.05

Statements of Common Stockholde

Statements of Common Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021	$ 88,230	$ 64,392	$ 152,622
Balance (in shares) at Dec. 31, 2021	13,112,948
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	14,569	14,569
Cash dividends declared	0	(8,115)	(8,115)
Issuance of common stock	$ 43,970	0	43,970
Issuance of common stock (in shares)	1,121,940
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 1,322	0	1,322
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	33,016
Stock-based compensation	$ 208	0	208
Stock-based compensation (in shares)	7,552
Balance at Sep. 30, 2022	$ 133,730	70,846	204,576
Balance (in shares) at Sep. 30, 2022	14,275,456
Balance at Jun. 30, 2022	$ 133,239	67,945	201,184
Balance (in shares) at Jun. 30, 2022	14,264,763
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	5,681	5,681
Cash dividends declared	0	(2,780)	(2,780)
Issuance of common stock	$ 0	0	0
Issuance of common stock (in shares)	0
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 441	0	441
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	11,160
Stock-based compensation	$ 50	0	50
Stock-based compensation (in shares)	(467)
Balance at Sep. 30, 2022	$ 133,730	70,846	204,576
Balance (in shares) at Sep. 30, 2022	14,275,456
Balance at Dec. 31, 2022	$ 134,220	72,963	$ 207,183
Balance (in shares) at Dec. 31, 2022	14,285,584		14,285,584
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	17,745	$ 17,745
Cash dividends declared	0	(8,696)	(8,696)
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 1,258	0	1,258
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	31,039
Stock-based compensation	$ 217	0	217
Stock-based compensation (in shares)	4,114
Balance at Sep. 30, 2023	$ 135,695	82,012	$ 217,707
Balance (in shares) at Sep. 30, 2023	14,320,737		14,320,737
Balance at Jun. 30, 2023	$ 135,199	77,345	$ 212,544
Balance (in shares) at Jun. 30, 2023	14,309,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	7,568	7,568
Cash dividends declared	0	(2,901)	(2,901)
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans	$ 438	0	438
Issuance of common stock under dividend reinvestment, direct stock and employee stock purchase plans (in shares)	11,577
Stock-based compensation	$ 58	0	58
Stock-based compensation (in shares)	0
Balance at Sep. 30, 2023	$ 135,695	$ 82,012	$ 217,707
Balance (in shares) at Sep. 30, 2023	14,320,737		14,320,737

Statements of Common Stockhol_2

Statements of Common Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cash dividends declared (in dollars per share)	$ 0.2027	$ 0.1949	$ 0.6081	$ 0.5847

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 17,745	$ 14,569
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,777	7,545
Stock-based compensation	217	208
Increase (decrease) in deferred income taxes	757	(170)
Other	(750)	38
Changes in assets and liabilities:
Increase in accounts receivable and unbilled revenues	(929)	(1,431)
Decrease in recoverable income taxes	304	24
(Increase) decrease in materials and supplies, prepaid expenses, prepaid pension cost, regulatory and other assets	(8,365)	771
Increase (decrease) in accounts payable, accrued compensation and benefits, accrued expenses, deferred employee benefits, regulatory liabilities, and other deferred credits	4,988	(4,368)
Increase in accrued interest	663	125
Net cash provided by operating activities	23,407	17,311
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, including debt portion of allowance for funds used during construction of $1,522 in 2023 and $504 in 2022	(46,342)	(34,050)
Acquisitions of water and wastewater systems	(35)	(2,826)
Net cash used in investing activities	(46,377)	(36,876)
CASH FLOWS FROM FINANCING ACTIVITIES:
Customers' advances for construction and contributions in aid of construction	3,434	3,281
Repayments of customer advances	(240)	(772)
Proceeds of long-term debt issues	85,643	26,000
Debt issuance costs	(171)	0
Repayments of long-term debt	(57,303)	(48,213)
Changes in cash overdraft position	(966)	1,862
Issuance of common stock	1,258	45,292
Dividends paid	(8,685)	(7,885)
Net cash provided by financing activities	22,970	19,565
Net change in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	1	1
Cash and cash equivalents at end of period	1	1
Cash paid during the period for:
Interest, net of amounts capitalized	$ 2,734	$ 2,976
Supplemental disclosure of non-cash investing and financing activities:
Accounts payable includes $7,017 in 2023 and $5,536 in 2022 for the construction of utility plant.

Statements of Cash Flows (Una_2

Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM INVESTING ACTIVITIES:
Utility plant additions, debt portion of allowance for funds used during construction	$ 1,522	$ 504
Supplemental disclosure of non-cash investing and financing activities:
Accounts payable for construction of utility plant	$ 7,017	$ 5,536

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2023
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The interim financial statements are unaudited but, in the opinion of management, reflect all adjustments, consisting of only normal recurring accruals, necessary for a fair presentation of results for such periods. Because the financial statements cover an interim period, they do not include all disclosures and notes normally provided in annual financial statements, and therefore, should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Operating results for the are not necessarily indicative of the results that may be expected for the year ending December 31, .

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2023
Acquisitions [Abstract]
Acquisitions	2. Acquisitions On December 1, 2022, the Company completed the acquisition of the wastewater collection and treatment assets of SYC WWTP, L.P. and the Albright Trailer Park of R.T. Barclay, Inc. in Shrewsbury and Springfield Townships, York County, Pennsylvania. The Company began operating the existing collection and treatment facilities on December 5, 2022. The acquisition resulted in the addition of approximately 90 wastewater customers with purchase price and acquisition costs of approximately $516, of which $35 was paid in 2023, which is less than the depreciated original cost of the assets. The Company recorded a negative acquisition adjustment of $202 and will seek approval from the Pennsylvania Public Utility Commission, or PPUC,

Accounts Receivable and Contrac

Accounts Receivable and Contract Assets	9 Months Ended
Accounts Receivable and Contract Assets	Sep. 30, 2023
Accounts Receivable and Contract Assets [Abstract]
Accounts Receivable and Contract Assets	3. Accounts Receivable and Contract Assets Accounts receivable and contract assets are summarized in the following table: As of As of Sep. 30, 2023 Dec. 31, 2022 Change Accounts receivable – customers $ 7,994 $ 7,069 $ 925 Other receivables 235 487 (252 ) 8,229 7,556 673 Less: allowance for doubtful accounts (875 ) (855 ) (20 ) Accounts receivable, net $ 7,354 $ 6,701 $ 653 Unbilled revenue $ 3,249 $ 3,290 $ (41 ) Differences in timing of revenue recognition, billings, and cash collections result in receivables and contract assets. Generally, billing occurs subsequent to revenue recognition, resulting in a contract asset reported as unbilled revenue on the balance sheet. The Company does not receive advances or deposits from customers before revenue is recognized so no contract liabilities are reported. Accounts receivable are recorded when the right to consideration becomes unconditional and are presented separately on the balance sheet. The changes in accounts receivable – customers and in unbilled revenue were primarily due to the normal timing difference between performance and the customer’s payments.

Common Stock and Earnings Per S

Common Stock and Earnings Per Share	9 Months Ended
Common Stock and Earnings Per Share	Sep. 30, 2023
Common Stock and Earnings Per Share [Abstract]
Common Stock and Earnings Per Share	4. Common Stock and Earnings Per Share Net income of $7,568 and $5,681 for the three months ended September 30, 2023 and 2022, respectively, and $17,745 and $14,569 for the nine months ended September 30, 2023 and 2022, respectively, is used to calculate both basic and diluted earnings per share. Basic earnings per share is based on the weighted average number of common shares outstanding. Diluted earnings per share is based on the weighted average number of common shares outstanding plus potentially dilutive shares. The dilutive effect of employee stock-based compensation is included in the computation of diluted earnings per share and is calculated using the treasury stock method and expected proceeds upon exercise or issuance of the stock-based compensation. The following table summarizes the shares used in computing basic and diluted earnings per share: Three Months Ended September 30 Nine Months Ended September 30 2023 2022 2023 2022 Weighted average common shares, basic 14,300,995 14,254,570 14,288,580 13,853,816 Effect of dilutive securities: Employee stock-based compensation 834 703 305 407 Weighted average common shares, diluted 14,301,829 14,255,273 14,288,885 13,854,223 On March 11, 2013, the Board of Directors, or the Board, authorized a share repurchase program granting the Company authority to repurchase up to 1,200,000 shares of the Company’s common stock from time to time. The stock repurchase program has no specific end date and the Company may repurchase shares in the open market or through privately negotiated transactions. The Company may suspend or discontinue the repurchase program at any time. No shares were repurchased during the three or nine months ended September 30, 2023 and 2022. As of September 30, 2023, 618,004 shares remain authorized for repurchase.

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2023
Debt [Abstract]
Debt	5. Debt As of Sep. 30, 2023 As of Dec. 31, 2022 Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 $ 12,000 $ 12,000 3.00 Facilities Revenue Refunding Bonds, Series A of 2019, due 2036 10,500 10,500 3.10 Facilities Revenue Refunding Bonds, Series B of 2019, due 2038 14,870 14,870 3.23 15,000 15,000 4.00 4.50 Facilities Revenue Bonds, Series 2015, due 2029 - 2045 10,000 10,000 4.54 20,000 20,000 3.24% Senior Notes, due 2050 30,000 30,000 5.50% Senior Notes, due 2053 40,000 – Committed Line of Credit, due September 2025 18,080 29,740 Total long-term debt 170,450 142,110 Less discount on issuance of long-term debt (150 ) (158 ) Less unamortized debt issuance costs (2,531 ) (2,487 ) Long-term portion $ 167,769 $ 139,465 In the third quarter of 2023, the Company renewed its committed line of credit and extended the maturity date to September 2025. No other terms or conditions of the line of credit agreement were modified. On February 24, 2023, the Company entered into a note purchase agreement with certain institutional investors relating to the private placement of $40,000 aggregate principal amount of the Company’s senior notes. The senior notes bear interest at 5.50% per annum payable semiannually and mature on February 24, 2053. The senior notes are unsecured and unsubordinated obligations of the Company. The Company received net proceeds, after deducting issuance costs, of approximately $39,829. The net proceeds were used to refinance line of credit borrowings incurred by the Company as interim financing for various capital projects of the Company.

Interest Rate Swap Agreement

Interest Rate Swap Agreement	9 Months Ended
Interest Rate Swap Agreement	Sep. 30, 2023
Interest Rate Swap Agreement [Abstract]
Interest Rate Swap Agreement	6. Interest Rate Swap Agreement The Company is exposed to certain risks relating to its ongoing business operations. The primary risk managed by using derivative instruments is interest rate risk. The Company utilizes an interest rate swap agreement to effectively convert the Company’s $12,000 variable-rate debt issue to a fixed rate. Interest rate swaps are contracts in which a series of interest rate cash flows are exchanged over a prescribed period. The notional amount on which the interest payments are based ($12,000) is not exchanged. The interest rate swap provides that the Company pays the counterparty a fixed interest rate of 3.16% on the notional amount of $12,000. In exchange, the counterparty paid the Company a variable interest rate based on 59% of the U.S. Dollar one-month LIBOR rate on the notional amount. The variable interest rate changed to 59% of the daily simple Secured Overnight Financing Rate, or SOFR, plus a spread adjustment of 11.448 basis points upon the discontinuance of LIBOR in 2023. The intent is for the variable rate received from the swap counterparty to approximate the variable rate the Company pays to bondholders on its variable rate debt issue, resulting in a fixed rate being paid to the swap counterparty and reducing the Company’s interest rate risk. The Company’s net payment rate on the swap was 0.01% and 1.78% for the three months ended September 30, 2023 and 2022, respectively, and 0.20% and 2.43% for the nine months ended September 30, 2023 and 2022, respectively. The interest rate swap agreement is classified as a financial derivative used for non-trading activities. The accounting standards regarding accounting for derivatives and hedging activities require companies to recognize all derivative instruments as either assets or liabilities at fair value on the balance sheet. In accordance with the standards, the interest rate swap is recorded on the balance sheet in other deferred credits at fair value (see Note 7). The Company uses regulatory accounting treatment rather than hedge accounting to defer the unrealized gains and losses on its interest rate swap. These unrealized gains and losses are recorded as a regulatory asset or regulatory liability. Based on current ratemaking treatment, the Company expects the unrealized gains and losses to be recognized in rates as a component of interest expense as the swap settlements occur. Swap settlements are recorded in the income statement with the hedged item as interest expense. Swap settlements resulted in the reclassification from regulatory assets to interest expense of $0 and $52 for the three months ended September 30, 2023 and 2022, respectively, and $19 and $220 for the nine months ended September 30, 2023 and 2022, respectively. The overall swap result was a gain of $211 and $357 for the three months ended September 30, 2023 and 2022, respectively, and $351 and $1,132 for the nine months ended September 30, 2023 and 2022, respectively. The Company expects to reclassify $(13) from regulatory assets to interest expense as a result of swap settlements over the next 12 months. The interest rate swap agreement contains provisions that require the Company to maintain a credit rating of at least BBB- with Standard & Poor’s. If the Company’s rating were to fall below this rating, it would be in violation of these provisions, and the counterparty to the derivative could request immediate payment if the derivative was in a liability position. On July 26, 2023, Standard & Poor’s affirmed the Company’s credit rating at A-, with a stable outlook and adequate liquidity. The Company’s interest rate swap was in a liability position as of September 30, 2023. If a violation due to credit rating, or some other default provision, were triggered on September 30, 2023, the Company would have been required to pay the counterparty approximately $372. The interest rate swap will expire on October 1, 2029. Other than the interest rate swap, the Company has no other derivative instruments.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
Fair Value of Financial Instruments	Sep. 30, 2023
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	7. Fair Value of Financial Instruments The accounting standards regarding fair value measurements establish a fair value hierarchy which indicates the extent to which inputs used in measuring fair value are observable in the market. Level 1 inputs include quoted prices for identical instruments and are the most observable. Level 2 inputs include quoted prices for similar assets and observable inputs such as interest rates, commodity rates and yield curves. Level 3 inputs are not observable in the market and include management’s own judgments about the assumptions market participants would use in pricing the asset or liability. The Company has recorded its interest rate swap liability at fair value in accordance with the standards. The liability is recorded under the caption “Other deferred credits” on the balance sheet. The table below illustrates the fair value of the interest rate swap as of the end of the reporting period. Description September 30, 2023 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $303 $303 Fair values are measured as the present value of all expected future cash flows based on the SOFR-based swap yield curve as of the date of the valuation. These inputs to this calculation are deemed to be Level 2 inputs. The balance sheet carrying value reflects the Company’s credit quality as of September 30, 2023. The rate used in discounting all prospective cash flows anticipated to be made under this swap reflects a representation of the yield to maturity for 30-year debt on utilities rated A- as of September 30, 2023. The use of the Company’s credit rating resulted in a reduction in the fair value of the swap liability of $69 as of September 30, 2023. The fair value of the swap reflecting the Company’s credit quality as of December 31, 2022 is shown in the table below. Description December 31, 2022 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $680 $680 The carrying amount of current assets and liabilities that are considered financial instruments approximates fair value as of the dates presented. The Company’s total long-term debt, with a carrying value of $170,450 at September 30, 2023, and $142,110 at December 31, 2022, had an estimated fair value of approximately $142,000 and $126,000, respectively. The estimated fair value of debt was calculated using a discounted cash flow technique that incorporates a market interest yield curve with adjustments for duration and risk profile. These inputs to this calculation are deemed to be Level 2 inputs. The Company recognized its credit rating in determining the yield curve and did not factor in third-party credit enhancements including the letter of credit on the 2008 Pennsylvania Economic Development Financing Authority Series A issue. Customers’ advances for construction and note receivable had carrying values at September 30, 2023 of $18,105 and $255, respectively. At December 31, 2022, customers’ advances for construction and note receivable had carrying values of $14,911 and $255, respectively. The relative fair values of these amounts cannot be accurately estimated since the timing of future payment streams is dependent upon several factors, including new customer connections, customer consumption levels and future rate increases.

Commitments

Commitments	9 Months Ended
Commitments	Sep. 30, 2023
Commitments [Abstract]
Commitments	8. Commitments The Company has committed to capital expenditures of approximately $39,626 to armor and replace the spillway of the Lake Williams dam, of which $9,576 remains to be incurred as of September 30, 2023. The Company may make additional commitments for this project in the future. The Company was granted approval by the PPUC to modify its tariff to include the cost of the annual replacement of up to 400 lead customer-owned service lines over nine years from the agreement. The tariff modification allows the Company to replace customer-owned service lines at its own initial cost. The Company will record the costs as a regulatory asset to be recovered in future base rates to customers, over a four-year period. The cost for the customer-owned lead service line replacements was approximately $1,671 and $1,518 through September 30, 2023 and December 31, 2022, respectively, and is included as a regulatory asset. Based on its experience, the Company estimates that lead customer-owned service lines replacements will cost $1,800. This estimate is subject to adjustment as more facts become available.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2023
Revenue [Abstract]
Revenue	9. Revenue The following table shows the Company’s revenues disaggregated by service and customer type. Three Months Ended September 30 Nine Months Ended September 30 2023 2022 2023 2022 Water utility service: Residential $ 10,505 $ 9,282 $ 30,033 $ 26,548 Commercial and industrial 5,244 4,208 14,341 11,692 Fire protection 1,040 856 3,022 2,528 Wastewater utility service: Residential 1,458 976 3,998 2,830 Commercial and industrial 255 209 743 434 Billing and revenue collection services 115 149 357 363 Collection services 12 3 28 151 Other revenue 14 6 38 25 Total Revenue from Contracts with Customers 18,643 15,689 52,560 44,571 Rents from regulated property 124 122 375 379 Total Operating Revenue $ 18,767 $ 15,811 $ 52,935 $ 44,950 Utility Service The Company provides utility service as a distinct and single performance obligation to each of its water and wastewater customers. The transaction price is detailed in the tariff pursuant to an order by the PPUC and made publicly available. There is no variable consideration and no free service, special rates, or subnormal charges to any customer. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied over time through the continuous provision of utility service through a stand-ready obligation to perform and the transfer of water or the collection of wastewater through a series of distinct transactions that are identical in nature and have the same pattern of transfer to the customer. The Company uses an output method to recognize the utility service revenue over time. The stand-ready obligation is recognized through the passage of time in the form of a fixed charge and the transfer of water or the collection of wastewater is recognized at a per unit rate based on the actual or estimated flow through the meter. Each customer is invoiced every month and the invoice is due within twenty days. The utility service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. A contract asset for unbilled revenue is recognized for the passage of time and the actual or estimated usage from the latest meter reading to the end of the accounting period. The methodology is standardized and consistently applied to reduce bias and the need for judgment. Billing and Revenue Collection Service The Company provides billing and revenue collection service as distinct performance obligations to two municipalities within the service territory of the Company. The municipalities provide service to their residents and the Company acts as the billing and revenue collection agent for the municipalities. The transaction price is a fixed amount per bill prepared as established in the contract. There is no variable consideration. Due to the fact that both the billing performance obligation and the revenue collection performance obligation are materially complete by the end of the reporting period, the Company does not allocate the transaction price between the two performance obligations. The performance obligations are satisfied at a point in time when the bills are sent as the municipalities receive all the benefits and bear all of the risk of non-collection at that time. Each municipality is invoiced when the bills are complete and the invoice is due within thirty days. The billing and revenue collection service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. Collection Service The Company provides collection service as a distinct and single performance obligation to several municipalities within the service territory of the Company. The municipalities provide wastewater service to their residents. If those residents are delinquent in paying for their wastewater service, the municipalities request that the Company post for and shut off the supply of water to the premises of those residents. When the resident is no longer delinquent, the Company will restore water service to the premises. The transaction price for each posting, each shut off, and each restoration is a fixed amount as established in the contract. There is no variable consideration. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied at a point in time when the posting, shut off, or restoration is completed as the municipalities receive all the benefits in the form of payment or no longer providing wastewater service. Each municipality is invoiced periodically for the posting, shut offs, and restorations that have been completed since the last billing and the invoice is due within thirty days. The collection service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. A contract asset for unbilled revenue is recognized for postings, shut offs, and restorations that have been completed from the last billing to the end of the accounting period. Service Line Protection Plan The Company provides service line protection as a distinct and single performance obligation to current water customers that choose to participate. The transaction price is detailed in the plan’s terms and conditions and made publicly available. There is no variable consideration. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied over time through the continuous provision of service line protection through a stand-ready obligation to perform. The Company uses an output method to recognize the service line protection revenue over time. The stand-ready obligation is recognized through the passage of time. A customer has a choice to prepay for an entire year or to pay in advance each month. The service line protection plan has no returns or extended warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no material performance obligations remain unsatisfied as of the end of the reporting period.

Rate Matters

Rate Matters	9 Months Ended
Rate Matters	Sep. 30, 2023
Rate Matters [Abstract]
Rate Matters	10. Rate Matters From time to time, the Company files applications for rate increases with the PPUC and is granted rate relief as a result of such requests. The most recent rate request was filed by the Company on May 27, 2022 and sought an annual increase in water rates of $18,854 and an annual increase in wastewater rates of $1,457. Effective March 1, 2023, the PPUC authorized an increase in water rates designed to produce approximately $11,600 in additional annual revenues and an increase in wastewater rates designed to produce approximately $1,900 in additional annual revenues. The PPUC permits water utilities to collect a distribution system improvement charge, or DSIC. The DSIC allows the Company to add a charge to customers’ bills for qualified replacement costs of certain infrastructure without submitting a rate filing. This surcharge mechanism typically adjusts periodically based on additional qualified capital expenditures completed or anticipated in a future period. The DSIC is capped at 5% of base rates and is reset to zero when new base rates that reflect the costs of those additions become effective or when a utility’s earnings exceed a regulatory benchmark. The DSIC reset to zero when the new base rates took effect March 1, 2023. The DSIC provided revenues of $0 and $661 for the three months ended September 30, 2023 and 2022, respectively, and $271 and $1,623 for the nine months ended September 30, 2023 and 2022, respectively.

Pensions

Pensions	9 Months Ended
Pensions	Sep. 30, 2023
Pensions [Abstract]
Pensions	11. Pensions Components of Net Periodic Pension Cost Three Months Ended September 30 Nine Months Ended September 30 2023 2022 2023 2022 Service cost $ 150 $ 257 $ 449 $ 769 Interest cost 469 334 1,407 1,002 Expected return on plan assets (903 ) (1,054 ) (2,709 ) (3,163 ) Amortization of prior service cost (4 ) (4 ) (10 ) (10 ) Rate-regulated adjustment 677 1,042 2,154 3,127 Net periodic pension expense $ 389 $ 575 $ 1,291 $ 1,725 Pension service cost is recorded in operating expenses. All other components of net periodic pension cost are recorded as other pension costs in other income (expenses). Employer Contributions The Company previously disclosed in its financial statements for the year ended that it expected to contribute $ to its pension plans in . For the

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2023
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. Stock-Based Compensation On May 2, 2016, the Company’s stockholders approved The York Water Company Long-Term Incentive Plan, or LTIP. The LTIP was adopted to provide the incentive of long-term stock-based awards to officers, directors, and key employees. The LTIP provides for the granting of nonqualified stock options, incentive stock options, stock appreciation rights, performance restricted stock grants and units, restricted stock grants and units, and unrestricted stock grants. A maximum of 100,000 shares of common stock may be issued under the LTIP over the ten-year life of the plan. The maximum number of shares of common stock subject to awards that may be granted to any participant in any one calendar year is 2,000. Shares of common stock issued under the LTIP may be treasury shares or authorized but unissued shares. The LTIP will be administered by the Compensation Committee of the Board, or the full Board, provided that the full Board will administer the LTIP as it relates to awards to non-employee directors of the Company. The Company filed a registration statement with the Securities and Exchange Commission on May 11, 2016 covering the offering of stock under the LTIP. The LTIP was effective on July 1, 2016. On May 1, 2023, the Board awarded stock to non-employee directors effective May 1, 2023. This stock award vested immediately. On May 1, 2023, the Compensation Committee awarded restricted stock to officers and key employees effective May 1, 2023. This stock award vests ratably over three years beginning May 1, 2023. On May 1, 2023, the Board accelerated the vesting period for restricted stock granted in 2021, 2022, and 2023 to one retiring key employee from three years to that key employee’s 2024 retirement date. The restricted stock awards provide the grantee with the rights of a shareholder, including the right to receive dividends and to vote such shares, but not the right to sell or otherwise transfer the shares during the restriction period. As a result, the awards are included in common shares outstanding on the balance sheet. Restricted stock awards result in compensation expense valued at the fair market value of the stock on the date of the grant and are amortized ratably over the restriction period. The following tables summarize the stock grant amounts and activity for the nine months ended September 30, 2023. Number of Shares Grant Date Weighted Average Fair Value Nonvested at beginning of the period 10,765 $43.24 Granted 5,947 $42.22 Vested (5,935 ) $43.89 Forfeited (1,833 ) $42.29 Nonvested at end of the period 8,944 $42.32 For the three months ended September 30, 2023 and 2022, the statement of income includes $58 and $50 of stock-based compensation, respectively, and related recognized tax benefits of $16 and $14, respectively. For the nine months ended September 30, 2023 and 2022, the statement of income includes $217 and $208 of stock-based compensation, respectively, and related recognized tax benefits of $61 and $60, respectively. The total fair value of the shares vested in the nine months ended September 30, 2023 was $260. Total stock-based compensation related to nonvested awards not yet recognized is $379 at September 30, 2023 which will be recognized over the remaining three year vesting period.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Taxes [Abstract]
Income Taxes	13. Income Taxes Under the Internal Revenue Service tangible property regulations, or TPR, the Company is permitted to deduct the costs of certain asset improvements that were previously being capitalized and depreciated for tax purposes as an expense on its income tax return. This ongoing deduction results in a reduction in the effective income tax rate, a net reduction in income tax expense, and a reduction in the amount of income taxes currently payable. It also results in increases to deferred tax liabilities and regulatory assets representing the appropriate book and tax basis difference on capital additions. The Company’s effective tax rate was and for the three months ended and , respectively, and and for the and , respectively. income before income taxes and

Subsequent Event

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2023
Subsequent Event [Abstract]
Subsequent Event	14. Subsequent Event On October 12, 2023, the Company completed the acquisition of the water assets and wastewater collection and treatment assets of Conewago Industrial Park Water and Sewer Company in Lancaster County, Pennsylvania. The Company began operating the existing water assets and wastewater collection and treatment assets on October 16, 2023. The acquisition resulted in the addition of approximately 30 commercial and industrial water and wastewater customers with purchase price and acquisition costs of approximately $566. This acquisition is immaterial to Company results.

Revenue (Policies)

Revenue (Policies)	9 Months Ended
Revenue (Policies)	Sep. 30, 2023
Revenue [Abstract]
Revenue	Utility Service The Company provides utility service as a distinct and single performance obligation to each of its water and wastewater customers. The transaction price is detailed in the tariff pursuant to an order by the PPUC and made publicly available. There is no variable consideration and no free service, special rates, or subnormal charges to any customer. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied over time through the continuous provision of utility service through a stand-ready obligation to perform and the transfer of water or the collection of wastewater through a series of distinct transactions that are identical in nature and have the same pattern of transfer to the customer. The Company uses an output method to recognize the utility service revenue over time. The stand-ready obligation is recognized through the passage of time in the form of a fixed charge and the transfer of water or the collection of wastewater is recognized at a per unit rate based on the actual or estimated flow through the meter. Each customer is invoiced every month and the invoice is due within twenty days. The utility service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. A contract asset for unbilled revenue is recognized for the passage of time and the actual or estimated usage from the latest meter reading to the end of the accounting period. The methodology is standardized and consistently applied to reduce bias and the need for judgment. Billing and Revenue Collection Service The Company provides billing and revenue collection service as distinct performance obligations to two municipalities within the service territory of the Company. The municipalities provide service to their residents and the Company acts as the billing and revenue collection agent for the municipalities. The transaction price is a fixed amount per bill prepared as established in the contract. There is no variable consideration. Due to the fact that both the billing performance obligation and the revenue collection performance obligation are materially complete by the end of the reporting period, the Company does not allocate the transaction price between the two performance obligations. The performance obligations are satisfied at a point in time when the bills are sent as the municipalities receive all the benefits and bear all of the risk of non-collection at that time. Each municipality is invoiced when the bills are complete and the invoice is due within thirty days. The billing and revenue collection service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. Collection Service The Company provides collection service as a distinct and single performance obligation to several municipalities within the service territory of the Company. The municipalities provide wastewater service to their residents. If those residents are delinquent in paying for their wastewater service, the municipalities request that the Company post for and shut off the supply of water to the premises of those residents. When the resident is no longer delinquent, the Company will restore water service to the premises. The transaction price for each posting, each shut off, and each restoration is a fixed amount as established in the contract. There is no variable consideration. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied at a point in time when the posting, shut off, or restoration is completed as the municipalities receive all the benefits in the form of payment or no longer providing wastewater service. Each municipality is invoiced periodically for the posting, shut offs, and restorations that have been completed since the last billing and the invoice is due within thirty days. The collection service has no returns or warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no performance obligations remain unsatisfied as of the end of the reporting period. A contract asset for unbilled revenue is recognized for postings, shut offs, and restorations that have been completed from the last billing to the end of the accounting period. Service Line Protection Plan The Company provides service line protection as a distinct and single performance obligation to current water customers that choose to participate. The transaction price is detailed in the plan’s terms and conditions and made publicly available. There is no variable consideration. Due to the fact that the contract includes a single performance obligation, no judgment is required to allocate the transaction price. The performance obligation is satisfied over time through the continuous provision of service line protection through a stand-ready obligation to perform. The Company uses an output method to recognize the service line protection revenue over time. The stand-ready obligation is recognized through the passage of time. A customer has a choice to prepay for an entire year or to pay in advance each month. The service line protection plan has no returns or extended warranties associated with it. No revenue is recognized from performance obligations satisfied in prior periods and no material performance obligations remain unsatisfied as of the end of the reporting period.

Accounts Receivable and Contr_2

Accounts Receivable and Contract Assets (Tables)	9 Months Ended
Accounts Receivable and Contract Assets (Tables)	Sep. 30, 2023
Accounts Receivable and Contract Assets [Abstract]
Accounts Receivable and Contract Assets	Accounts receivable and contract assets are summarized in the following table: As of As of Sep. 30, 2023 Dec. 31, 2022 Change Accounts receivable – customers $ 7,994 $ 7,069 $ 925 Other receivables 235 487 (252 ) 8,229 7,556 673 Less: allowance for doubtful accounts (875 ) (855 ) (20 ) Accounts receivable, net $ 7,354 $ 6,701 $ 653 Unbilled revenue $ 3,249 $ 3,290 $ (41 )

Common Stock and Earnings Per_2

Common Stock and Earnings Per Share (Tables)	9 Months Ended
Common Stock and Earnings Per Share (Tables)	Sep. 30, 2023
Common Stock and Earnings Per Share [Abstract]
Shares Used in Computing Basic and Diluted Earnings per Share	The following table summarizes the shares used in computing basic and diluted earnings per share: Three Months Ended September 30 Nine Months Ended September 30 2023 2022 2023 2022 Weighted average common shares, basic 14,300,995 14,254,570 14,288,580 13,853,816 Effect of dilutive securities: Employee stock-based compensation 834 703 305 407 Weighted average common shares, diluted 14,301,829 14,255,273 14,288,885 13,854,223

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2023
Debt [Abstract]
Debt	As of Sep. 30, 2023 As of Dec. 31, 2022 Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 $ 12,000 $ 12,000 3.00 Facilities Revenue Refunding Bonds, Series A of 2019, due 2036 10,500 10,500 3.10 Facilities Revenue Refunding Bonds, Series B of 2019, due 2038 14,870 14,870 3.23 15,000 15,000 4.00 4.50 Facilities Revenue Bonds, Series 2015, due 2029 - 2045 10,000 10,000 4.54 20,000 20,000 3.24% Senior Notes, due 2050 30,000 30,000 5.50% Senior Notes, due 2053 40,000 – Committed Line of Credit, due September 2025 18,080 29,740 Total long-term debt 170,450 142,110 Less discount on issuance of long-term debt (150 ) (158 ) Less unamortized debt issuance costs (2,531 ) (2,487 ) Long-term portion $ 167,769 $ 139,465

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
Fair Value of Financial Instruments (Tables)	Sep. 30, 2023
Fair Value of Financial Instruments [Abstract]
Fair Value of Interest Rate Swap	The Company has recorded its interest rate swap liability at fair value in accordance with the standards. The liability is recorded under the caption “Other deferred credits” on the balance sheet. The table below illustrates the fair value of the interest rate swap as of the end of the reporting period. Description September 30, 2023 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $303 $303 Fair values are measured as the present value of all expected future cash flows based on the SOFR-based swap yield curve as of the date of the valuation. These inputs to this calculation are deemed to be Level 2 inputs. The balance sheet carrying value reflects the Company’s credit quality as of September 30, 2023. The rate used in discounting all prospective cash flows anticipated to be made under this swap reflects a representation of the yield to maturity for 30-year debt on utilities rated A- as of September 30, 2023. The use of the Company’s credit rating resulted in a reduction in the fair value of the swap liability of $69 as of September 30, 2023. The fair value of the swap reflecting the Company’s credit quality as of December 31, 2022 is shown in the table below. Description December 31, 2022 Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) Interest Rate Swap $680 $680

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 30, 2023
Revenue [Abstract]
Revenues Disaggregated by Service and Customer Type	The following table shows the Company’s revenues disaggregated by service and customer type. Three Months Ended September 30 Nine Months Ended September 30 2023 2022 2023 2022 Water utility service: Residential $ 10,505 $ 9,282 $ 30,033 $ 26,548 Commercial and industrial 5,244 4,208 14,341 11,692 Fire protection 1,040 856 3,022 2,528 Wastewater utility service: Residential 1,458 976 3,998 2,830 Commercial and industrial 255 209 743 434 Billing and revenue collection services 115 149 357 363 Collection services 12 3 28 151 Other revenue 14 6 38 25 Total Revenue from Contracts with Customers 18,643 15,689 52,560 44,571 Rents from regulated property 124 122 375 379 Total Operating Revenue $ 18,767 $ 15,811 $ 52,935 $ 44,950

Pensions (Tables)

Pensions (Tables)	9 Months Ended
Pensions (Tables)	Sep. 30, 2023
Pensions [Abstract]
Components of Net Periodic Pension Cost	Components of Net Periodic Pension Cost Three Months Ended September 30 Nine Months Ended September 30 2023 2022 2023 2022 Service cost $ 150 $ 257 $ 449 $ 769 Interest cost 469 334 1,407 1,002 Expected return on plan assets (903 ) (1,054 ) (2,709 ) (3,163 ) Amortization of prior service cost (4 ) (4 ) (10 ) (10 ) Rate-regulated adjustment 677 1,042 2,154 3,127 Net periodic pension expense $ 389 $ 575 $ 1,291 $ 1,725

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2023
Stock-Based Compensation [Abstract]
Restricted Stock	The following tables summarize the stock grant amounts and activity for the nine months ended September 30, 2023. Number of Shares Grant Date Weighted Average Fair Value Nonvested at beginning of the period 10,765 $43.24 Granted 5,947 $42.22 Vested (5,935 ) $43.89 Forfeited (1,833 ) $42.29 Nonvested at end of the period 8,944 $42.32

Acquisitions (Details)

Acquisitions (Details) $ in Thousands	9 Months Ended		10 Months Ended
Acquisitions (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 01, 2022 Customer
Acquisitions [Abstract]
Acquisition of water and wastewater systems	$ 35	$ 2,826
Acquisition adjustment	(9,331)		$ (9,331)	$ (9,178)
Wastewater Collection and Treatment Assets of SYC WWTP, L.P. and Albright Trailer Park of R.T. Barclay, Inc. [Member]
Acquisitions [Abstract]
Number of customers acquired \| Customer					90
Purchase price and acquisition costs			516
Acquisition of water and wastewater systems	35
Acquisition adjustment	$ (202)		$ (202)

Accounts Receivable and Contr_3

Accounts Receivable and Contract Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounts Receivable and Contract Assets [Abstract]
Accounts receivable - customers	$ 7,994	$ 7,069
Other receivables	235	487
Accounts receivable	8,229	7,556
Less: allowance for doubtful accounts	(875)	(855)
Accounts receivable, net	7,354	6,701
Unbilled revenue	3,249	$ 3,290
Change in accounts receivable - customers	925
Change in other receivables	(252)
Change in accounts receivable	673
Change in allowance for doubtful accounts	(20)
Change in accounts receivable, net	653
Change in unbilled revenue	$ (41)

Common Stock and Earnings Per_3

Common Stock and Earnings Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 11, 2013
Common Stock and Earnings Per Share [Abstract]
Net income	$ 7,568	$ 5,681	$ 17,745	$ 14,569
Shares Used in Computing Basic and Diluted Earnings per Share [Abstract]
Weighted average common shares, basic (in shares)	14,300,995	14,254,570	14,288,580	13,853,816
Effect of dilutive securities [Abstract]
Employee stock-based compensation (in shares)	834	703	305	407
Weighted average common shares, diluted (in shares)	14,301,829	14,255,273	14,288,885	13,854,223
Stock Repurchase Program [Abstract]
Number of shares authorized to be repurchased under the stock repurchase program (in shares)					1,200,000
Number of shares repurchased under the stock repurchase program (in shares)	0	0	0	0
Number of remaining shares authorized to be repurchased under the stock repurchase program (in shares)	618,004		618,004

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Feb. 24, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt [Abstract]
Total long-term debt		$ 170,450	$ 142,110
Less discount on issuance of long-term debt		(150)	(158)
Less unamortized debt issuance costs		(2,531)	(2,487)
Long-term portion		167,769	139,465
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 [Member]
Debt [Abstract]
Total long-term debt		12,000	12,000
3.00% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series A of 2019, due 2036 [Member]
Debt [Abstract]
Total long-term debt		$ 10,500	10,500
Interest rate		3%
3.10% Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series B of 2019, due 2038 [Member]
Debt [Abstract]
Total long-term debt		$ 14,870	14,870
Interest rate		3.10%
3.23% Senior Notes, due 2040 [Member]
Debt [Abstract]
Total long-term debt		$ 15,000	15,000
Interest rate		3.23%
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 [Member]
Debt [Abstract]
Total long-term debt		$ 10,000	10,000
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 [Member] \| Minimum [Member]
Debt [Abstract]
Interest rate		4%
4.00% - 4.50% York County Industrial Development Authority Exempt Facilities Revenue Bonds, Series 2015, due 2029 - 2045 [Member] \| Maximum [Member]
Debt [Abstract]
Interest rate		4.50%
4.54% Senior Notes, due 2049 [Member]
Debt [Abstract]
Total long-term debt		$ 20,000	20,000
Interest rate		4.54%
3.24% Senior Notes, due 2050 [Member]
Debt [Abstract]
Total long-term debt		$ 30,000	30,000
Interest rate		3.24%
5.50% Senior Notes, due 2053 [Member]
Debt [Abstract]
Total long-term debt		$ 40,000	0
Interest rate		5.50%
Face value	$ 40,000
Proceeds from debt, net of issuance costs	$ 39,829
Committed Line of Credit, due September 2025 [Member]
Debt [Abstract]
Total long-term debt		$ 18,080	$ 29,740

Interest Rate Swap Agreement (D

Interest Rate Swap Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Interest Rate Swap Agreement [Abstract]
Outstanding borrowings	$ 170,450		$ 170,450		$ 142,110
Interest Rate Swap [Member]
Interest Rate Swap Agreement [Abstract]
Notional amount of swap	$ 12,000		$ 12,000
Fixed interest rate	3.16%		3.16%
Net payment rate on swap	0.01%	1.78%	0.20%	2.43%
Interest rate swap settlements reclassified from regulatory assets to interest expense	$ 0	$ 52	$ 19	$ 220
Overall interest rate swap (gain) loss	(211)	$ (357)	(351)	$ (1,132)
Interest rate swap settlements to be reclassified during the next 12 months	13		13
Potential payment to counterparty	$ 372		$ 372
Interest Rate Swap [Member] \| LIBOR [Member]
Interest Rate Swap Agreement [Abstract]
Percentage of variable interest rate	59%		59%
Term of variable rate			1 month
Interest Rate Swap [Member] \| SOFR [Member]
Interest Rate Swap Agreement [Abstract]
Percentage of variable interest rate	59%		59%
Basis spread adjustment	0.11448%		0.11448%
Variable Rate Pennsylvania Economic Development Financing Authority Exempt Facilities Revenue Refunding Bonds, Series 2008A, due 2029 [Member]
Interest Rate Swap Agreement [Abstract]
Outstanding borrowings	$ 12,000		$ 12,000		$ 12,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Interest Rate Swap [Abstract]
Term of debt on utilities rated A- used to discount prospective cash flows	30 years
Reduction in fair value of swap liability	$ (69)
Fair Value Measurements [Abstract]
Customers' advances for construction	18,105	$ 14,911
Note receivable	255	255
Fair Value on a Recurring Basis [Member]
Interest Rate Swap [Abstract]
Interest rate swap	303	680
Fair Value on a Recurring Basis [Member] \| Fair Value Measurements at Reporting Date Using Significant Other Observable Inputs (Level 2) [Member]
Interest Rate Swap [Abstract]
Interest rate swap	303	680
Carrying Amount [Member]
Fair Value, Financial Liabilities [Abstract]
Total long-term debt	170,450	142,110
Estimated Fair Value [Member]
Fair Value, Financial Liabilities [Abstract]
Total long-term debt	$ 142,000	$ 126,000

Commitments (Details)

Commitments (Details) $ in Thousands	9 Months Ended
Commitments (Details) $ in Thousands	Sep. 30, 2023 USD ($) ServiceLine	Dec. 31, 2022 USD ($)
Commitments [Abstract]
Capital expenditures committed	$ 39,626
Armor and Replace Spillway of Lake Williams Dam [Member]
Commitments [Abstract]
Remaining committed capital expenditures to be incurred	$ 9,576
Customer-Owned Lead Service Lines [Member]
Commitments [Abstract]
Number of lead customer-owned service lines to be replaced annually \| ServiceLine	400
Term of tariff modification to replace customer-owned lead service lines	9 years
Recovery period of regulatory asset	4 years
Costs incurred to replace customer-owned lead service lines	$ 1,671	$ 1,518
Costs to be incurred to replace customer-owned lead service lines	$ 1,800

Revenue (Details)

Revenue (Details) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Municipality	Sep. 30, 2022 USD ($)
Revenue [Abstract]
Revenue from contracts with customers	$ 18,643	$ 15,689	$ 52,560	$ 44,571
Rents from regulated property	124	122	375	379
Total operating revenue	18,767	15,811	$ 52,935	44,950
Utility Service [Member]
Revenue [Abstract]
Number of days for customer to make payment after being invoiced			20 days
Water Utility Service [Member] \| Residential [Member]
Revenue [Abstract]
Revenue from contracts with customers	10,505	9,282	$ 30,033	26,548
Water Utility Service [Member] \| Commercial and Industrial [Member]
Revenue [Abstract]
Revenue from contracts with customers	5,244	4,208	14,341	11,692
Water Utility Service [Member] \| Fire Protection [Member]
Revenue [Abstract]
Revenue from contracts with customers	1,040	856	3,022	2,528
Wastewater Utility Service [Member] \| Residential [Member]
Revenue [Abstract]
Revenue from contracts with customers	1,458	976	3,998	2,830
Wastewater Utility Service [Member] \| Commercial and Industrial [Member]
Revenue [Abstract]
Revenue from contracts with customers	255	209	743	434
Billing and Revenue Collection Services [Member]
Revenue [Abstract]
Revenue from contracts with customers	115	149	$ 357	363
Number of municipalities within the service territory provided service \| Municipality			2
Number of days for customer to make payment after being invoiced			30 days
Collection Services [Member]
Revenue [Abstract]
Revenue from contracts with customers	12	3	$ 28	151
Number of days for customer to make payment after being invoiced			30 days
Other Revenue [Member]
Revenue [Abstract]
Revenue from contracts with customers	$ 14	$ 6	$ 38	$ 25

Rate Matters (Details)

Rate Matters (Details) - PPUC [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Rate Request Filed on May 27, 2022 [Member] \| Water [Member]
Rate Matters [Abstract]
Requested annual increase in rates			$ 18,854
Authorized dollar increase in annual revenues			11,600
Rate Request Filed on May 27, 2022 [Member] \| Wastewater [Member]
Rate Matters [Abstract]
Requested annual increase in rates			1,457
Authorized dollar increase in annual revenues			1,900
DSIC [Member]
Rate Matters [Abstract]
Distribution system improvement charge revenue	$ 0	$ 661	$ 271	$ 1,623
DSIC [Member] \| Maximum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate			5%
DSIC [Member] \| Minimum [Member]
Rate Matters [Abstract]
Distribution system improvement charge percentage over base rate			0%

Pensions (Details)

Pensions (Details) - Pension Plans [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Components of Net Periodic Pension Cost [Abstract]
Service cost	$ 150	$ 257	$ 449	$ 769
Interest cost	469	334	1,407	1,002
Expected return on plan assets	(903)	(1,054)	(2,709)	(3,163)
Amortization of prior service cost	(4)	(4)	(10)	(10)
Rate-regulated adjustment	677	1,042	2,154	3,127
Net periodic pension expense	389	$ 575	1,291	$ 1,725
Employer Contributions [Abstract]
Estimated employer contributions in 2023					$ 1,680
Employer contributions made in 2023			1,291
Estimated remaining employer contributions in 2023	$ 389		$ 389

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Employee $ / shares shares	Sep. 30, 2022 USD ($)	May 02, 2016 shares
Stock-Based Compensation [Abstract]
Number of retiring key employees receiving accelerated vesting period \| Employee			1
LTIP [Member]
Stock-Based Compensation [Abstract]
Maximum number of shares of common stock that can be issued under the plan (in shares)					100,000
Term of plan			10 years
Maximum number of shares of common stock subject to awards that may be granted to a participant per calendar year (in shares)			2,000
Restricted Stock [Member] \| LTIP [Member]
Number of Shares [Roll Forward]
Nonvested at beginning of the period (in shares)			10,765
Granted (in shares)			5,947
Vested (in shares)			(5,935)
Forfeited (in shares)			(1,833)
Nonvested at end of the period (in shares)	8,944		8,944
Grant Date Weighted Average Fair Value [Abstract]
Nonvested at beginning of the period (in dollars per share) \| $ / shares			$ 43.24
Granted (in dollars per share) \| $ / shares			42.22
Vested (in dollars per share) \| $ / shares			43.89
Forfeited (in dollars per share) \| $ / shares			42.29
Nonvested at end of the period (in dollars per share) \| $ / shares	$ 42.32		$ 42.32
Stock-Based Compensation Expense [Abstract]
Stock-based compensation expense \| $	$ 58	$ 50	$ 217	$ 208
Recognized tax benefits related to stock-based compensation expense \| $	16	$ 14	61	$ 60
Fair value of vested shares \| $			260
Stock-based compensation expense not yet recognized \| $	$ 379		$ 379
Period of recognition			3 years
Restricted Stock [Member] \| LTIP [Member] \| Officers and Key Employees [Member]
Stock-Based Compensation [Abstract]
Vesting period			3 years
Restricted Stock [Member] \| LTIP [Member] \| Key Employee Retiring in 2024 [Member]
Stock-Based Compensation [Abstract]
Vesting period			3 years

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Taxes [Abstract]
Effective tax rate	(2.20%)	(1.50%)	5.80%	(1.00%)

Subsequent Event (Details)

Subsequent Event (Details) $ in Thousands		9 Months Ended
Subsequent Event (Details) $ in Thousands	Oct. 12, 2023 USD ($) Customer	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Subsequent Event [Abstract]
Purchase price and acquisition costs		$ 35	$ 2,826
Subsequent Event [Member] \| Water Assets and Wastewater Collection and Treatment Assets of Conewago Industrial Park Water and Sewer Company [Member]
Subsequent Event [Abstract]
Number of customers acquired \| Customer	30
Purchase price and acquisition costs	$ 566