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Pension and Other Post-Retirement Benefits Pension and Post-Retirement Benefits (Tables)
 3 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2012
Pension and Other Post-Retirement Benefits [Abstract]    
Schedule of Net Benefit Costs [Table Text Block]  
The following table shows the components of periodic benefit costs:

PBOP Benefits (in thousands)
2012
 
2011
 
2010
Components of net periodic benefit costs
 
 
 
 
 
Service cost
$
548

 
$
599

 
$
567

Interest cost
538

 
623

 
574

Expected return on plan assets
(269
)
 
(267
)
 
(306
)
Other
225

 
225

 
225

Amortization of:
 

 
 

 
 

Prior service cost
(806
)
 
(665
)
 
(406
)
Recognized net loss
615

 
613

 
329

Net Periodic Post Retirement Benefit Costs
$
851

 
$
1,128

 
$
983

The following table shows the components of periodic benefit costs:

Pension Benefits (in thousands)
2012
 
2011
 
2010
Components of net periodic benefit costs
 
 
 
 
 
Service cost
$
2,020

 
$
1,523

 
$
1,668

Interest cost
2,570

 
2,134

 
2,175

Expected return on plan assets
(2,693
)
 
(2,456
)
 
(2,507
)
Amortization of:
 

 
 

 
 

Net transition obligation
—

 
2

 
2

Prior service cost
74

 
69

 
69

Net loss
1,753

 
687

 
602

Net Periodic Pension Benefit Costs
$
3,724

 
$
1,959

 
$
2,009
Components of Long-Term Compensation Arrangements [Table Text Block]  
The Company has accrued for the following long-term compensation arrangements as of December 31, 2012 and 2011:

(in thousands)
2012
 
2011
Defined Benefit Pension Plan
$
22,139

 
$
12,319

Post Retirement Benefit Other than Pension
6,243

 
6,431

Supplemental Executive Retirement Plan
6,224

 
4,843

Deferred Compensation
1,639

 
1,411

Other Long-Term Compensation
185

 
228

Total Long-Term Compensation Arrangements
$
36,430

 
$
25,232
Target Asset Allocation [Table Text Block]  
The targeted asset allocation ratios for those plans as set by the Committee at December 31, 2012 and 2011:


2012
 
2011
Equity
65
%
 
65
%
Fixed Income
35
%
 
35
%
Total
100
%
 
100
%
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]  
The following tables set forth the benefit obligation and fair value of the assets of the Company’s retirement plans at December 31, the latest valuation date:

Pension Benefits (in thousands)
2012
 
2011
Change in benefit obligation:
 
 
 
Benefit obligation, beginning of year
$
49,102

 
$
40,758

Service cost
2,020

 
1,523

Interest cost
2,570

 
2,134

Actuarial loss (gain)
14,494

 
5,878

Benefits paid
(1,685
)
 
(1,191
)
Benefit obligation, end of year
$
66,501

 
$
49,102

Change in plan assets:
 

 
 

Fair value, beginning of year
$
36,783

 
$
36,990

Actual return on plan assets
9,723

 
(216
)
Employer contributions
585

 
1,200

Benefits paid
(1,685
)
 
(1,191
)
Fair value, end of year
$
45,406

 
$
36,783

Funded Status
$
(21,095
)
 
$
(12,319
)
Amount Recognized in Consolidated Balance Sheets Consisted of:
 

 
 

Non-current asset
$
—

 
$
—

Current liability
—

 
—

Non-current liability
(21,095
)
 
(12,319
)
Net amount recognized
$
(21,095
)
 
$
(12,319
)
The following tables set forth the benefit obligation and fair value of the assets of Connecticut Water and Maine Water’s post-retirement health care benefits at December 31, the latest valuation date:

PBOP Benefits (in thousands)
2012
 
2011
Change in benefit obligation:
 
 
 
Benefit obligation, beginning of year
$
12,842

 
$
13,443

Service cost
548

 
599

Interest cost
538

 
623

Plan participant contributions
93

 
85

Plan amendments
—

 
(2,433
)
Actuarial (gain) loss
(275
)
 
901

Benefits paid
(424
)
 
(376
)
Benefit obligation, end of year
$
13,322

 
$
12,842

Change in plan assets:
 

 
 

Fair value, beginning of year
$
6,465

 
$
6,475

Actual return on plan assets
977

 
46

Employer contributions
22

 
235

Plan participant contributions
93

 
85

Benefits paid
(424
)
 
(376
)
Fair value, end of year
$
7,133

 
$
6,465

Funded Status
$
(6,189
)
 
$
(6,377
)
Amount Recognized in Consolidated Balance Sheets Consisted of:
 

 
 

Non-current asset
$
—

 
$
—

Current liability
—

 
—

Non-current liability
(6,189
)
 
(6,377
)
Net amount recognized
$
(6,189
)
 
$
(6,377
)
Schedule of Assumptions Used [Table Text Block]  
Weighted-average assumptions used to determine benefit obligations at December 31:
2012
 
2011
Discount rate
4.05
%
 
4.60
%
Rate of compensation increase
3.50
%
 
3.50
%

Weighted-average assumptions used to determine net periodic cost for years ended December 31:
2012
 
2011
 
2010
Discount rate
4.60
%
 
5.50
%
 
5.95
%
Expected long-term return on plan assets
7.25
%
 
7.25
%
 
8.00
%
Rate of compensation increase
3.50
%
 
3.50
%
 
4.50
%
Weighted-average assumptions used to determine benefit obligations at December 31:
2012
 
2011
Discount rate
3.80
%
 
4.40
%
 
Weighted-average assumptions used to determine net periodic cost for years ended December 31:
2012
 
2011
 
2010
Discount rate
4.40
%
 
5.35
%
 
5.80
%
Expected long-term return on plan assets
4.50
%
 
4.50
%
 
5.00
%
Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Liability [Table Text Block]  
The following table shows the other changes in plan assets and benefit obligations recognized as a regulatory asset:

Pension Benefits (in thousands)
2012
 
2011
Change in net loss (gain)
$
6,254

 
$
8,550

Change in prior service cost
14

 
—

Amortization of transition obligation
—

 
(2
)
Amortization of prior service cost
(74
)
 
(69
)
Amortization of net loss
(1,753
)
 
(687
)
Total recognized to Regulatory Asset
$
4,441

 
$
7,792

The following table shows the other changes in plan assets and benefit obligations recognized as a regulatory asset:

PBOP Benefits (in thousands)
2012
 
2011
Change in net loss (gain)
$
(1,028
)
 
$
1,123

Change in transition credit
(10
)
 
(2,433
)
Amortization of transition obligation
—

 
—

Amortization of prior service credit
806

 
665

Amortization of net loss
(615
)
 
(613
)
Total recognized to Regulatory Asset
$
(847
)
 
$
(1,258
)
Amounts Recognized as Regulatory Asset [Table Text Block]  
Amounts Recognized as a Regulatory Asset at December 31: (in thousands)
2012
 
2011
Transition obligation
$
—

 
$
—

Prior service cost
249

 
309

Net loss
18,069

 
13,553

Total Recognized as a Regulatory Asset
$
18,318

 
$
13,862

Amounts Recognized as a Regulatory Asset at December 31: (in thousands)
2012
 
2011
Transition obligation
$
—

 
$
—

Prior service cost
(2,766
)
 
(3,563
)
Net (gain) loss
4,590

 
6,234

Total Recognized as a Regulatory Asset
$
1,824

 
$
2,671
Amounts Recognized in Other Comprehensive Income [Table Text Block]  
Amounts Recognized in Other Comprehensive Income at December 31: (in thousands)
2012
 
2011
 
2010
Transition obligation
$
—

 
$
—

 
$
—

Prior service cost
—

 
—

 
—

Net loss
538

 
554

 
327

Total Recognized in Other Comprehensive Income
$
538

 
$
554

 
$
327
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block]  
Estimated Net Periodic Benefit Cost Amortizations for the periods January 1 - December 31,: (in thousands)
2013
Amortization of transition obligation
$
—

Amortization of prior service cost
74

Amortization of net loss
1,964

Total Estimated Net Periodic Benefit Cost Amortizations
$
2,038

Estimated Benefit Cost Amortizations for the periods January 1 - December 31,: (in thousands)
2013
Amortization of transition obligation
$
—

Amortization of prior service cost
(806
)
Amortization of net loss (gain)
394

Total Estimated Net Periodic Benefit Cost Amortizations
$
(412
)
Acutal Asset Allocation [Table Text Block]
Plan Assets
The Company’s pension plan weighted-average asset allocations at December 31, 2012 and 2011 by asset category were as follows:

 
2012
 
2011
Equity
64
%
 
66
%
Fixed Income
36
%
 
34
%
Total
100
%
 
100
%
Connecticut Water and Maine Water’s other post-retirement benefit plan weighted-average asset allocations at December 31, 2012 and 2011 by asset category were as follows:

 
2012
 
2011
Equity
65
%
 
63
%
Fixed Income
35
%
 
37
%
Total
100
%
 
100
%
Fair Value of Benefit Plan Assets [Table Text Block]  
See Note 6 for discussion on how fair value is determined.  The fair values of the Company’s pension plan assets at December 31, 2012 were as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:

 

 

Money Market Fund
$
483

 
$
—

 
$
—

Mutual Funds:


 


 


Fixed Income Funds (1)
15,769

 
—

 
—

Equity Funds (2)
29,154

 
—

 
—

Total
$
45,406

 
$
—

 
$
—


The fair values of the Company’s pension plan assets at December 31, 2011 were as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:

 

 

Money Market Fund
$
172

 
$
—

 
$
—

Mutual Funds:


 


 


Fixed Income Funds (1)
12,491

 
—

 
—

Equity Funds (2)
24,120

 
—

 
—

Total
$
36,783

 
$
—

 
$
—

See Note 6 for discussion on how fair value is determined.  The fair value of the Company’s PBOP assets at December 31, 2012 are as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:
 
 
 
 
 
Money Market
$
116

 
$
—

 
$
—

Mutual Funds:
 

 
 

 
 

Fixed Income Funds (1)
2,379

 
—

 
—

Equity Funds (2)
4,638

 
—

 
—

Total
$
7,133

 
$
—

 
$
—


The fair value of the Company’s PBOP assets at December 31, 2011 are as follows:

(in thousands)
Level 1
 
Level 2
 
Level 3
Asset Type:
 
 
 
 
 
Money Market
$
160

 
$
—

 
$
—

Mutual Funds:
 

 
 

 
 

Fixed Income Funds (1)
2,234

 
—

 
—

Equity Funds (2)
4,071

 
—

 
—

Total
$
6,465

 
$
—

 
$
—
Schedule of Expected Benefit Payments [Table Text Block]  
The Plan’s expected future benefit payments are:

(in thousands)

2013
$
2,701

2014
2,880

2015
3,383

2016
3,723

2017
3,831

Years 2018 – 2022
25,124

Expected future benefit payments are:

(in thousands)
 
2013
$
354

2014
382

2015
414

2016
44

2017
505

Years 2018 – 2022
3,363
Schedule of Health Care Cost Trend Rates [Table Text Block]  
Assumed health care cost trend rates at December 31:
2012
 
2011
 
Medical
 
Dental
 
Medical
 
Dental
Health care cost trend rate assumed for next year (1)
10.0
%
 
10.0
%
 
10.0
%
 
10.0
%
Rate to which the cost trend rate is assumed to decline
5.0
%
 
5.0
%
 
5.0
%
 
5.0
%
Year that the rate reaches the ultimate trend rate
2023

 
2023

 
2022

 
2022
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]  
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans.  A one-percentage-point change in assumed health care cost trend rates would have the following effects on Connecticut Water and Maine Water’s plan and would have no impact on the Barnstable Water plan:

(in thousands)
1 Percentage-Point

Increase
 
Decrease
Effect on total of service and interest cost components
$
70

 
$
(66
)
Effect on post-retirement benefit obligation
$
957

 
$
(893
)