Cash and Cash Equivalents
Cash and cash equivalents generally consist of cash, money market funds and other short-term
liquid investments with original maturities of three months or less.
Restricted Cash - RSF
PENNICHUCK CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note lI — Description of Business and Summary of Significant Accounting Policies
Description of Business:
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2018 and 2017
(in thousands)
Financing Activities:
Borrowings (payments) on lines of credit, net
Payments on long-term debt
Contributions in aid of construction
Proceeds from long-term borrowings
Debt issuance costs
Dividends paid
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2018 and 2017
(in thousands)
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY
For the Year Ended December 31, 2017
(in thousands, except per share data)
Accumulated
Additional Other
Common Stock Paid in Retained Comprehensive
Shares Amount Capital Earnings /(Deficit) Income Total
Balance as of
January t, 2017 1,000 $ - $ 30,561 $ (10,241) $ 258 $ 20,578
Common dividends declared - - - (279) - (279)
Net loss - - - (6,441) - (6,441)
Other comprehensive income:
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDER'S EQUITY
For the Year Ended December 31, 2018
(in thousands, except per share data)
Accumulated
Additional Other
Common Stock Paid in Retained Comprehensive
Shares Amount Capital Earnings/(Deficit) Income Total
Balance as of
January 1, 2018 1,000 =$ - $ 30.561 $ (16,961) $ 305 $ 13,905
Common dividends declared - - - (280) - (280)
Net loss - - - (3,282) - (5,282)
Other comprehensive income:
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the Years Ended December 31, 2018 and 2017
(in thousands)
2018 2017
Net Loss $ (5,282) $ (6,441)
Other Comprehensive Income (Loss):
Unrealized gain on derivatives
53 3
Reclassification of net income realized in net income 59 76
Income tax benefit relating to
other comprehensive income (45) (32)
Other Comprehensive Income 67 47
Comprehensive Loss
$ (5,215) $_ (6,394)
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
For the Years Ended December 31, 2018 and 2017
(in thousands)
Operating Revenues
Operating Expenses:
Operations and maintenance
Depreciation and amortization
Taxes other than income taxes
Total Operating Expenses
Operating Income
Interest Expense
Allowance for Funds Used During Construction
Other, Net
Loss Before Provision for Income Taxes
Provision tor Income Taxes
Net Loss
$
$
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS - CONTINUED
As of December 31, 2018 and 2017
(in thousands, except share data)
PENNICHUCK CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
As of December 31, 2018 and 2017
(in thousands, except share data)
2018 2017
ASSETS
Property, Plant and Equipment, net $ 221,860 $ 210,498
