® recovery of State Revolving Loan Fund and Drinking Water Groundwater Trust Fund
debt issuance costs; and
e re-establishment of imprest levels of the components of the RSF account and the
retention of a previously approved reconciliation mechanism.
Pittsfield Aqueduct
e reallocating the value of components of the aggregate RSF; and
e changing the treatment of debt issuance costs for long-term debt, other than tax
exempt and taxable bond issuances.
16.
(continued)
(in thousands) 2020 2019
Total Long-Term Debt (including current portion
and unamortized debt insurance costs):
Pennichuck Water S 105,447 §$ 94,323
Pennichuck East 22,067 19,842
Pittsfield Aqueduct 140 143
Subtotal Regulated Segment 127,654 114,308
Service Corporation - -
Other 102,169 104,570
Total Long-Term Debt $ 229,823 § 218,878
Rate Cases
Pennichuck Water
(continued)
(in thousands)
Income Taxes Provision (Benefit}:
Pennichuck Water
Pennichuck East
Pittsfield Aqueduct
Subtotal Regulated Segment
Service Corporation
Other
Total Income Taxes Provision (Benefit)
Net Income (Loss):
Pennichuck Water
Pennichuck East
Pittsfield Aqueduct
Subtotal Regulated Segment
Service Corporation
Other
Total Net Income (Loss)
Total Net Assets:
15.
Segment Reporting
(in thousands)
Operating Revenues:
Pennichuck Water
Pennichuck East
Pittsfield Aqueduct
Subtotal Regulated Segment
Service Corporation
Other
Total Operating Revenues
Depreciation and Amortization Expense:
Pennichuck Water
Pennichuck East
Pittsfield Aqueduct
Subtotal Regulated Segment
Service Corporation
Other
Total Depreciation and Amortization Expense
Operating Income:
Municipal Acquisition Regulatory Asset (“MARA”)
Transactions with Related Party — City of Nashua
14.
The following table presents reclassifications out of accumulated other comprehensive
income for the years ended December 31, 2020 and 2019:
Amounts Reclassified Affected Line Item in
Details about Accumulated Other from Accumulated Other the Statement Where
Comprehensive income Components Comprehensive Income Net Income is Presented
{in thousands} 2020 2019
Gain on cash flow hedges:
Interest rate contracts s 42 s) 70 Interest expense
(17) (27) Tax expense
Amounts reclassified from accumulated
All Bonds Test - Additionally, Pennichuck Water cannot create, issue, incur, assume or
guarantee any new funded debt, if the total outstanding funded debt (“Total Funded
Debt”) will exceed the sum of MARA {as defined in Note 14 of these consolidated financial
statements) and 85% of its Net Capital Properties (“MARA and Capital Properties”), and
unless net revenues or EBITDA (earnings before interest, taxes, depreciation and
amortization) shall equal or exceed for at least 12 consecutive months out of the 15
Short-term borrowing activity under Pennichuck Water’s FALOC for the years ended
December 31, 2020 and 2019 was:
{in thousands) 2020 2019
Established line as of December 31, S$ 12,000 § 10,000
Maximum amount outstanding during period 7,223 8,850
Average amount outstanding during period 3,610 4,131
Amount outstanding as of December 31, 4,550 5,848
Weighted average interest rate during period 2.80% 4.07%
Interest rate as of December 31, 1.90% 3.55%
