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BUSINESS COMBINATIONS
12 Months Ended
Dec. 31, 2019
BUSINESS COMBINATIONS [Abstract]  
BUSINESS COMBINATIONS
NOTE 18

BUSINESS COMBINATIONS

On March 29, 2018, Artesian Water purchased the utility assets of Slaughter Beach Water Company, which serves the community of Slaughter Beach located in Sussex County, Delaware along the Delaware Bay consisting of 265 customers.  The total purchase price was $450,000 in cash, which approximated the fair value of the net identifiable assets received.  The acquisition was accounted for as a business combination under ASC Topic 805, “Business Combinations”.  The purchase price was allocated to the acquired utility assets, including land, based on the utility assets’ estimated fair values as of the acquisition date.  This acquisition was approved by the DEPSC on March 27, 2018 subject to the DEPSC determining the appropriate ratemaking treatment of the acquisition price and the assets acquired in Artesian Water’s next base rate case.  The pro forma effect of the business acquired is not material to the Company’s financial position or results of operations.