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, 2024.
Utility plant
comprises :
In thousands
Estimated Useful Life
(In Years) Effective
June 12, 2024
December 31, 2024
Utility plant at original cost
Utility plant in service-Water
Intangible plant
---
$
140
Source of supply plant
45-85
30,320
Pumping and water treatment plant
15-64
130,226
Transmission and distribution plant
Mains
73-81
390,741
Services
39-58
63,613
Storage tanks
70-76
39,760
Meters
16-26
30,223
Hydrants
60-68
20,158
General plant
5-81
59,634
Utility plant in service-Wastewater
Intangible plant
---
116
Treatment and disposal plant
20-81
71,332
Collection mains and lift stations
70-81
57,084
General plant
5-31
2,632
Property held for future use
---
3,742
Construction work in progress
---
39,718
939,439
Less – accumulated depreciation
192,253
$
747,186
17
Table of Contents
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, 2024, no other water utility plant has been pledged as security for loans. Two parcels of land held by 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 industry
practice. We believe that all of our existing facilities adequately meet current necessary production capacities and current levels of utilization.
ITEM 3. LEGAL PROCEEDINGS
For a discussion of our legal proceedings, refer to Notes to Consolidated Financial Statements – Note 16 – Legal Proceedings.
ITEM 4.
MINE SAFETY DISCLOSURES
Not applicable.
PART II