Item 2. Properties
ITEM 2.
PROPERTIES
Our corporate headquarters are located at 664 Churchmans Road, Newark, Delaware and are owned by Artesian Water.
The Company owns approximately six acres of land in New Castle County, Delaware zoned for office development and two nine-acre parcels of land in Sussex
County, Delaware for water and wastewater treatment facilities and an elevated water storage. The Company also owns an office facility located in Sussex County, Delaware. The facility consists of approximately 10,000 square feet of office space along
with approximately 10,000 square feet of warehouse space.
The Company owns land, rights-of-way, easements, transmission and distribution mains, collection mains, pump facilities, treatment plants, lift stations,
treatment/disposal facilities, storage tanks, meters, vehicles and related equipment and facilities. The following table indicates our utility plant as of December 31, 2023.
Utility plant
comprises :
In thousands
Estimated Useful Life
(In Years)
December 31, 2023
Utility plant at original cost
Utility plant in service-Water
Intangible plant
---
$
140
Source of supply plant
45-85
29,960
Pumping and water treatment plant
8-62
130,337
Transmission and distribution plant
Mains
81
370,977
Services
39
60,818
Storage tanks
76
40,933
Meters
26
30,318
Hydrants
60
18,980
General plant
5-31
67,317
Utility plant in service-Wastewater
Intangible plant
---
116
Treatment and disposal plant
21-81
67,789
Collection mains and lift stations
81
51,539
General plant
5-31
2,478
Property held for future use
---
4,028
Construction work in progress
---
23,724
899,454
Less – accumulated depreciation
185,170
$
714,284
Substantially all of Artesian Water's utility plant, except the utility plant in the town of Townsend, Delaware, is pledged as security for our First
Mortgage Bonds. As of December 31, 2023, no other water utility plant has been pledged as security for loans. Two parcels of land in Artesian Wastewater are pledged as security for a loan.
We believe that our properties are generally maintained in good condition and in accordance with current standards of good water and wastewater works
industry practice. We believe that all of our existing facilities adequately meet current necessary production capacities and current levels of utilization.
18
Table of Contents
ITEM 3. LEGAL PROCEEDINGS
For a discussion of our legal proceedings, refer to Notes to Consolidated Financial Statements – Note 17 – Legal Proceedings.
ITEM 4.
MINE SAFETY DISCLOSURES
Not applicable.
PART II