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Dispositions
12 Months Ended
Dec. 31, 2019
Dispositions [Abstract]  
Dispositions Note 3 –Dispositions

The following dispositions have not been presented as discontinued operations in the Company’s consolidated financial statements as they do not qualify as discontinued operations, since their disposal does not represent a strategic shift that has a major effect on our operations or financial results. The gains or loss disclosed below are reported in the consolidated statements of net income as a component of operations and maintenance expense.

Dispositions Completed in 2019 and 2017

In the fourth quarter of 2018, the Company decided to market for sale a water system in Virginia that serves approximately 500 customers. This water system was reported as assets held for sale in the Company’s December 31, 2018 consolidated balance sheet included in this Annual Report, and in April 2019, the Company completed the sale for proceeds of $1,882 and recognized a gain on sale of $405.

In 2017, the Company completed the sale of two business units that were reported within the Company’s market-based subsidiary, Aqua Resources. One business unit installed and tested devices that prevent the contamination of potable water, and the other business unit constructed, repaired, and performed maintenance on water and wastewater systems. These transactions resulted in total proceeds of $867 and the recognition of a net loss of $324.

Dispositions Reported as Assets Held for Sale at December 31, 2019

In the first quarter of 2017, the Company decided to market for sale a water system in Texas that serves approximately 265 customers. This water system is reported as assets held for sale in the Company’s consolidated balance sheet, and the sale is expected to close in the first half of 2020.