v3.26.1
Debt and Financing Arrangements (Tables)
6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Details on Long Term Debt

Details on long-term debt at June 30, 2026, June 30, 2025 and December 31, 2025 are shown below.

 

 

 

June 30,

 

 

December 31,

 

Long-Term Debt (millions)

 

2026

 

 

2025

 

 

2025

 

Unitil Corporation:

 

 

 

 

 

 

 

 

 

3.70% Senior Notes, Due August 1, 2026

 

$

30.0

 

 

$

30.0

 

 

$

30.0

 

3.43% Senior Notes, Due December 18, 2029

 

 

30.0

 

 

 

30.0

 

 

 

30.0

 

5.99% Senior Notes, Due August 21, 2034

 

 

20.0

 

 

 

20.0

 

 

 

20.0

 

Unitil Energy First Mortgage Bonds:

 

 

 

 

 

 

 

 

 

6.96% Senior Secured Notes, Due September 1, 2028

 

 

6.0

 

 

 

8.0

 

 

 

6.0

 

8.00% Senior Secured Notes, Due May 1, 2031

 

 

7.5

 

 

 

9.0

 

 

 

9.0

 

6.32% Senior Secured Notes, Due September 15, 2036

 

 

15.0

 

 

 

15.0

 

 

 

15.0

 

3.58% Senior Secured Notes, Due September 15, 2040

 

 

27.5

 

 

 

27.5

 

 

 

27.5

 

4.18% Senior Secured Notes, Due November 30, 2048

 

 

30.0

 

 

 

30.0

 

 

 

30.0

 

5.69% Senior Secured Notes, Due August 21, 2054

 

 

40.0

 

 

 

40.0

 

 

 

40.0

 

Fitchburg:

 

 

 

 

 

 

 

 

 

3.52% Senior Notes, Due November 1, 2027

 

 

10.0

 

 

 

10.0

 

 

 

10.0

 

7.37% Senior Notes, Due January 15, 2029

 

 

3.6

 

 

 

4.8

 

 

 

4.8

 

5.90% Senior Notes, Due December 15, 2030

 

 

15.0

 

 

 

15.0

 

 

 

15.0

 

7.98% Senior Notes, Due June 1, 2031

 

 

14.0

 

 

 

14.0

 

 

 

14.0

 

5.70% Senior Notes, Due July 2, 2033

 

 

12.0

 

 

 

12.0

 

 

 

12.0

 

5.54% Senior Notes, Due August 21, 2034

 

 

12.5

 

 

 

12.5

 

 

 

12.5

 

5.62% Senior Notes, Due April 30, 2036

 

 

23.0

 

 

 

 

 

 

 

3.78% Senior Notes, Due September 15, 2040

 

 

27.5

 

 

 

27.5

 

 

 

27.5

 

5.87% Senior Notes, Due April 30, 2041

 

 

17.0

 

 

 

 

 

 

 

5.99% Senior Notes, Due August 21, 2044

 

 

12.5

 

 

 

12.5

 

 

 

12.5

 

4.32% Senior Notes, Due November 1, 2047

 

 

15.0

 

 

 

15.0

 

 

 

15.0

 

5.96% Senior Notes, Due July 2, 2053

 

 

13.0

 

 

 

13.0

 

 

 

13.0

 

Northern Utilities:

 

 

 

 

 

 

 

 

 

3.52% Senior Notes, Due November 1, 2027

 

 

20.0

 

 

 

20.0

 

 

 

20.0

 

5.54% Senior Notes, Due August 21, 2034

 

 

25.0

 

 

 

25.0

 

 

 

25.0

 

7.72% Senior Notes, Due December 3, 2038

 

 

50.0

 

 

 

50.0

 

 

 

50.0

 

5.74% Senior Notes, Due August 21, 2039

 

 

15.0

 

 

 

15.0

 

 

 

15.0

 

3.78% Senior Notes, Due September 15, 2040

 

 

40.0

 

 

 

40.0

 

 

 

40.0

 

4.42% Senior Notes, Due October 15, 2044

 

 

50.0

 

 

 

50.0

 

 

 

50.0

 

4.32% Senior Notes, Due November 1, 2047

 

 

30.0

 

 

 

30.0

 

 

 

30.0

 

4.04% Senior Notes, Due September 12, 2049

 

 

40.0

 

 

 

40.0

 

 

 

40.0

 

Bangor:

 

 

 

 

 

 

 

 

 

5.70% Senior Notes, Due July 8, 2030

 

 

14.0

 

 

 

 

 

 

14.0

 

6.31% Senior Notes, Due July 8, 2035

 

 

18.0

 

 

 

 

 

 

18.0

 

Granite State:

 

 

 

 

 

 

 

 

 

3.72% Senior Notes, Due November 1, 2027

 

 

15.0

 

 

 

15.0

 

 

 

15.0

 

5.74% Senior Notes, Due August 21, 2034

 

 

10.0

 

 

 

10.0

 

 

 

10.0

 

AWC-NH:

 

 

 

 

 

 

 

 

 

5.72% Senior Secured Notes, Due June 1, 2028

 

 

11.0

 

 

 

 

 

 

 

Abenaki:

 

 

 

 

 

 

 

 

 

3.17% Senior Notes, Due June 1, 2051

 

 

2.5

 

 

 

 

 

 

 

1.296% - 2.864% Senior Notes, Due October 1, 2031 - May 1, 2045

 

 

0.2

 

 

 

 

 

 

 

Unitil Realty Corp.:

 

 

 

 

 

 

 

 

 

2.64% Senior Secured Notes, Due December 18, 2030

 

 

3.4

 

 

 

3.7

 

 

 

3.5

 

Total Long-Term Debt

 

 

725.2

 

 

 

644.5

 

 

 

674.3

 

Less: Fair Market Value Adjustment for Debt Acquired in Acquisition

 

 

0.2

 

 

 

 

 

 

 

Less: Unamortized Debt Issuance Costs

 

 

3.8

 

 

 

3.8

 

 

 

3.8

 

Total Long-Term Debt, net

 

 

721.2

 

 

 

640.7

 

 

 

670.5

 

Less: Current Portion

 

 

40.8

 

 

 

4.9

 

 

 

37.9

 

Total Long-term Debt, Less Current Portion

 

$

680.4

 

 

$

635.8

 

 

$

632.6

 

 

Fair Value of Long Term Debt

 

 

June 30,

 

 

December 31,

 

Estimated Fair Value of Long-Term Debt (millions)

 

2026

 

 

2025

 

 

2025

 

Estimated Fair Value of Long-Term Debt

 

$

670.2

 

 

$

579.7

 

 

$

623.4

 

Borrowing Limits Amounts Outstanding and Amounts Available under Credit Facility The following table details the borrowing limits, amounts outstanding and amounts available under the Credit Facility as of June 30, 2026, June 30, 2025 and December 31, 2025:

 

 

June 30,

 

 

December 31,

 

Revolving Credit Facility (millions)

 

2026

 

 

2025

 

 

2025

 

Limit

 

$

275.0

 

 

$

275.0

 

 

$

275.0

 

Short-Term Borrowings Outstanding

 

 

106.2

 

 

 

171.4

 

 

 

169.7

 

Available

 

$

168.8

 

 

$

103.6

 

 

$

105.3

 

Classification of the Company Lease Obligations

The balance sheet classification of the Company’s lease obligations was as follows:

 

 

June 30,

 

 

December 31,

 

Lease Obligations (millions)

 

2026

 

 

2025

 

 

2025

 

Operating Lease Obligations:

 

 

 

 

 

 

 

 

 

Operating Lease Obligations (current portion)

 

$

2.1

 

 

$

1.7

 

 

$

2.1

 

Operating Lease Obligations (long-term portion)

 

 

4.3

 

 

 

4.0

 

 

 

4.9

 

Total Operating Lease Obligations

 

 

6.4

 

 

 

5.7

 

 

 

7.0

 

Capital Lease Obligations:

 

 

 

 

 

 

 

 

 

Other Current Liabilities (current portion)

 

 

0.2

 

 

 

0.1

 

 

 

0.2

 

Other Noncurrent Liabilities (long-term portion)

 

 

0.3

 

 

 

0.3

 

 

 

0.4

 

Total Capital Lease Obligations

 

 

0.5

 

 

 

0.4

 

 

 

0.6

 

Total Lease Obligations

 

$

6.9

 

 

$

6.1

 

 

$

7.6

 

Future Operating Lease Payment Obligations and Future Minimum Lease Payments under Capital Leases The following table is a schedule of future operating lease payment obligations and future minimum lease payments under capital leases as of June 30, 2026.

Lease Payments ($000’s)

 

Operating

 

 

Capital

 

Year Ending December 31,

 

Leases

 

 

Leases

 

Rest of 2026

 

$

1,243

 

 

$

100

 

2027

 

 

2,247

 

 

 

216

 

2028

 

 

1,663

 

 

 

112

 

2029

 

 

1,198

 

 

 

89

 

2030

 

 

478

 

 

 

42

 

2031 - 2035

 

 

161

 

 

 

 

Total Payments

 

 

6,990

 

 

 

559

 

Less: Interest

 

 

623

 

 

 

43

 

Amount of Lease Obligations Recorded on Consolidated
   Balance Sheets

 

$

6,367

 

 

$

516