Note 2 — Property, Plant and Equipment
The components of property, plant and equipment as of December 31, 2015 and 2014 were
as follows:
Useful Lives
(in thousands) 2015 2014 (in years)
Utility Property:
Land and land rights $ 3,078 $ 2,939 -
Source of supply 52,347 51,489 3-70
Pumping and purification 30,508 30,115 7-64
Transmission and distribution, including 138,756 130,983
services, meters and hydrants 15-9]
General and other equipment 13,189 11,358 7-75
Intangible plant 790 770 20
Construction work in progress 4,494 2,677
Total utility property 243,162 230,331
Total non-utility property 5 5 5-10
Total property, plant and equipment 243,167 230,336
Less accumulated depreciation (59,926) (57,049)
Property, plant and equipment, net $§ 183,241 $173,287
The provision for depreciation is computed on the straight-line method over the estimated
useful lives of the assets, which range from 3 to 91 years. The weighted average composite
depreciation rate was 2.53% and 2.43% in 2015 and 2014, respectively.
Note 3 — Investments — Bond Project Funds
At December 31, 2015, the Company held investments in marketable securities that were
classified as held-to-maturity and consisted of the following:
Unrecognized Estimated
Amortized Holding Fair
(in thousands) Cost Losses Value
U.S. government bonds $ 17,237 §$ (27) § 17,210
Investments - Bond Project Funds $ 17,237 $ (27) $ 17,210
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