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January 2023
November 2022
November 2022
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April 2022
News Release
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The York Water Company
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130 East Market Street
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Contact:
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JT Hand, President and CEO
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York, PA 17401
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jth@yorkwater.com, 717-718-7554
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or
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Matthew E. Poff, Chief Financial Officer
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matthewp@yorkwater.com, 717-718-7549
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Phone:
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717-845-3601
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FOR IMMEDIATE RELEASE
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Period Ended December 31
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In 000's (except per share)
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Quarter
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Twelve Months
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2020
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2019
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2020
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2019
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Operating Revenues
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$
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13,398
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$
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13,019
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$
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53,852
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$
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51,578
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Net Income
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$
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3,710
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$
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3,389
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$
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16,598
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$
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14,402
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Average Number of Common Shares Outstanding
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13,044
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12,989
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13,034
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12,964
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Basic and Diluted Earnings Per Common Share
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$
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0.28
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$
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0.26
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$
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1.27
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$
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1.11
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Dividends Declared Per Common Share
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$
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0.1874
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$
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0.1802
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$
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0.7280
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$
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0.7001
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by York Water Co.
York Water Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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Actual income taxes could vary from these estimates and changes in these estimates could increase income tax expense in the period that these changes in estimates occur.
In 2021, the Company expects depreciation expense to continue to rise due to additional investment in utility plant, and other expenses to increase at a moderate rate as costs to treat water and wastewater and to maintain and extend the distribution and collection systems continue to rise.
Using the new mortality table slightly decreased the life expectancy of pension plan participants, resulting in a slight decrease to the pension benefit obligation, and ultimately, an increase in the Company's funded status of the plans.
Pension Accounting Accounting for defined benefit pension plans requires estimates of future compensation increases, mortality, the discount rate, and expected return on plan assets as well as other variables.
Capital Expenditures During 2020, the Company invested $32,123 in construction expenditures for routine items, the replacement of a standpipe, reimbursement to the developer for its construction of the water and wastewater system of the Amblebrook development in Adams County, Pennsylvania upon approval from the PPUC to provide service, improvements to a raw water pumping station, expansion of a wastewater treatment plant, as well as various replacements and improvements to infrastructure.
The Company has seen an...Read more
The Company is not yet...Read more
Other net expenses decreased primarily...Read more
In 2020, higher revenue as...Read more
Inflation The Company is affected...Read more
Interest expense for 2021 is...Read more
Operating revenues increased in 2020...Read more
The Company reduced revenue by...Read more
During the fourth quarter of...Read more
The Company expects to continue...Read more
Adopting a new mortality table...Read more
The Company's effective tax rate...Read more
The Company's effective tax rate...Read more
Other expenses decreased by a...Read more
The overall effect was an...Read more
Growth in the customer base...Read more
The ongoing deduction results in...Read more
Possible impacts associated with a...Read more
The Company received net proceeds,...Read more
In 2021, the Company expects...Read more
Allowance for funds used during...Read more
If this were to happen,...Read more
However, the ultimate duration and...Read more
If there are no outstanding...Read more
In accordance with the accounting...Read more
The Company seeks to grow...Read more
A decrease in the expected...Read more
Income Taxes, Deferred Income Taxes...Read more
The Company can provide no...Read more
The Company's performance in 2020...Read more
Other expenses increased by a...Read more
Internally-generated Funds The amount of...Read more
Operating expenses for 2020 increased...Read more
The primary reasons for the...Read more
Management is confident that its...Read more
Also adding to the increase...Read more
It also results in increases...Read more
The Company adopted a new...Read more
The increased expenses were partially...Read more
There is no guarantee that...Read more
The information technology systems may...Read more
A non-recurring gain on life...Read more
Accounts Receivable The accounts receivable...Read more
During 2020, management's assessment included...Read more
Additional statistical measures including number...Read more
The dividend is payable on...Read more
2020 Compared with 2019 Net...Read more
The net proceeds were used...Read more
Other regulatory actions and weather...Read more
Although the Company does not...Read more
Physical and Cyber Security The...Read more
The Company was able to...Read more
The Company continuously looks for...Read more
The Company had $6,700 in...Read more
Operating revenues for the year...Read more
Under the change in accounting...Read more
The Company continues to review...Read more
In 2020, operating revenue was...Read more
The volume of share repurchases...Read more
The duration and severity of...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
York Water Co provided additional information to their SEC Filing as exhibits
Ticker: YORW
CIK: 108985
Form Type: 10-K Annual Report
Accession Number: 0000108985-21-000022
Submitted to the SEC: Tue Mar 09 2021 11:59:49 AM EST
Accepted by the SEC: Tue Mar 09 2021
Period: Thursday, December 31, 2020
Industry: Water Supply