XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Common Stock [Member]
Common Shares Class A Non-Voting [Member]
Common Stock [Member]
Common Shares Class B Voting [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balance at Dec. 31, 2022 $ 8,621 $ 881 $ 107,143 $ 71,286 $ 187,931
Balance (in shares) at Dec. 31, 2022 8,621 [1],[2],[3] 881 [4]      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income $ 0 $ 0 0 3,705 3,705
Cash dividends declared          
Common stock 0 0 0 (2,646) (2,646)
Issuance of common stock          
Dividend reinvestment plan $ 2 $ 0 91 0 93
Dividend reinvestment plan (in shares) 2 [1],[2],[3] 0 [4]      
Employee stock options and awards [3] $ 0 $ 0 56 0 56
Employee stock options and awards (in shares) [3] 0 [1],[2] 0 [4]      
Employee Retirement Plan [1] $ 0 $ 0 0 0 0
Employee Retirement Plan (in shares) [1] 0 [2],[3] 0 [4]      
Balance at Mar. 31, 2023 $ 8,623 $ 881 107,290 72,345 189,139
Balance (in shares) at Mar. 31, 2023 8,623 [1],[2],[3] 881 [4]      
Balance at Dec. 31, 2022 $ 8,621 $ 881 107,143 71,286 187,931
Balance (in shares) at Dec. 31, 2022 8,621 [1],[2],[3] 881 [4]      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income         8,148
Balance at Jun. 30, 2023 $ 9,394 $ 881 142,910 74,088 227,273
Balance (in shares) at Jun. 30, 2023 9,394 [1],[2],[3] 881 [4]      
Balance at Mar. 31, 2023 $ 8,623 $ 881 107,290 72,345 189,139
Balance (in shares) at Mar. 31, 2023 8,623 [1],[2],[3] 881 [4]      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income $ 0 $ 0 0 4,443 4,443
Cash dividends declared          
Common stock 0 0 0 (2,700) (2,700)
Issuance of common stock          
Public offering, net of costs $ 764 $ 0 35,467 0 36,231
Public offering, net of costs (in shares) 764 [1],[2],[3] 0 [4]      
Dividend reinvestment plan $ 2 $ 0 98 0 100
Dividend reinvestment plan (in shares) 2 [1],[2],[3] 0 [4]      
Employee stock options and awards [3] $ 5 $ 0 55 0 60
Employee stock options and awards (in shares) [3] 5 [1],[2] 0 [4]      
Employee Retirement Plan [1] $ 0 $ 0 0 0 0
Employee Retirement Plan (in shares) [1] 0 [2],[3] 0 [4]      
Balance at Jun. 30, 2023 $ 9,394 $ 881 142,910 74,088 227,273
Balance (in shares) at Jun. 30, 2023 9,394 [1],[2],[3] 881 [4]      
Balance at Dec. 31, 2023 $ 9,404 $ 881 143,369 76,743 230,397
Balance (in shares) at Dec. 31, 2023 9,404 [1],[2],[3] 881 [4]      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income $ 0 $ 0 0 4,411 4,411
Cash dividends declared          
Common stock 0 0 0 (2,980) (2,980)
Issuance of common stock          
Dividend reinvestment plan $ 3 $ 0 87 0 90
Dividend reinvestment plan (in shares) 3 [1],[2],[3] 0 [4]      
Employee stock options and awards [3] $ 0 $ 0 68 0 68
Employee stock options and awards (in shares) [3] 0 [1],[2] 0 [4]      
Employee Retirement Plan [1] $ 0 $ 0 0 0 0
Employee Retirement Plan (in shares) [1] 0 [2],[3] 0 [4]      
Balance at Mar. 31, 2024 $ 9,407 $ 881 143,524 78,174 231,986
Balance (in shares) at Mar. 31, 2024 9,407 [1],[2],[3] 881 [4]      
Balance at Dec. 31, 2023 $ 9,404 $ 881 143,369 76,743 230,397
Balance (in shares) at Dec. 31, 2023 9,404 [1],[2],[3] 881 [4]      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income         9,736
Balance at Jun. 30, 2024 $ 9,415 $ 881 143,663 80,457 234,416
Balance (in shares) at Jun. 30, 2024 9,415 [1],[2],[3] 881 [4]      
Balance at Mar. 31, 2024 $ 9,407 $ 881 143,524 78,174 231,986
Balance (in shares) at Mar. 31, 2024 9,407 [1],[2],[3] 881 [4]      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income $ 0 $ 0 0 5,325 5,325
Cash dividends declared          
Common stock 0 0 0 (3,042) (3,042)
Issuance of common stock          
Dividend reinvestment plan [3] $ 3 $ 0 87 0 90
Dividend reinvestment plan (in shares) [3] 3 [1],[2] 0 [4]      
Employee stock options and awards [3] $ 5 $ 0 52 0 57
Employee stock options and awards (in shares) [3] 5 [1],[2] 0 [4]      
Employee Retirement Plan [1] $ 0 $ 0 0 0 0
Employee Retirement Plan (in shares) 0 [1],[2],[3] 0 [4]      
Balance at Jun. 30, 2024 $ 9,415 $ 881 $ 143,663 $ 80,457 $ 234,416
Balance (in shares) at Jun. 30, 2024 9,415 [1],[2],[3] 881 [4]      
[1] Artesian Resources Corporation registered 200,000 shares of Class A Stock, subsequently adjusted for stock splits, available for purchase through the Company’s 401(k) retirement plan.
[2] At June 30, 2024 and June 30, 2023, Class A Stock had 15,000,000 shares authorized.  For the same periods, shares issued, inclusive of treasury shares, were 9,443,071 and 9,422,321, respectively.
[3] Under the Equity Compensation Plan, effective December 9, 2015, or the 2015 Plan, Artesian Resources Corporation authorized up to 331,500 shares of Class A Stock for issuance of grants in the form of stock options, stock units, dividend equivalents and other stock-based awards, subject to adjustment in certain circumstances as discussed in the 2015 Plan. Includes stock compensation expense for June 30, 2024, and June 30, 2023.  See Note 8 - Stock Compensation Plans.
[4] At June 30, 2024 and June 30, 2023, Class B Stock had 1,040,000 shares authorized and 881,452 shares issued.