For the second quarter, I'll start at Slide 8, our net income decreased by $11.7 million to $5.3 million and that is a difference from a $0.35 gain in the second quarter of 2019 to an $0.11 gain in the second quarter of 2020, is that we had no rate relief from the California Commission.
There is a total of $29.1 million that we believe would have been achieved versus additional pre-tax income if the Commission has rendered a decision on a favorable basis to the Company.
And of that, for the second quarter, $10.9 million represents the pure delay of -- resulting from the settlement agreement that the Company filed with the consumer advocate back in October of 2019.
And then $18.2 million, which represents income from our disputed cost recovery regulatory mechanisms and those, remember, are mechanisms that we've had for many years, first of all, to decouple our sales from revenue.
And had we recorded them in the quarter, we estimate an additional revenue of -- would have been $18.2 million.
We had $6.5 million of increased water production expenses, of which $5.7 million would have been offset by those regulatory mechanisms and we had $2.1 million of increased pension benefit expenses which also would have been offset by those regulatory mechanisms, had they have been in place.
Other factors for the quarter, we saw a rebound in our unrealized benefit plan investment performance that was $3 million higher than in the second quarter of 2019.
So it was up $2.2 million in the second quarter and that's related to increased plant investments in 2019, and we did have an increase in our maintenance costs of about $1 million.
So, our net income decreased by $24.4 million to a loss of $15 million on a year-to-date basis.
In terms of earnings per share, we have a loss of $0.31 per year to date as compared to a gain of $0.19 in 2019.
But, again, the two factors related to the rate case, we believe that had a rate case been adopted and it was favorable to the Company on these matters, the $19.8 million representing the delay of the settlement agreement amounts and $26 million related to our regulatory balancing accounts that we've been discussing.
For the year-to-date basis, our unrealized benefit plan investment performance was $4 million lower than in the first half of 2019 and that's really due to a comparatively strong market conditions in the first quarter of 2019.
We see depreciation expense increase $4.3 million and maintenance expense increase $1.6 million.
As shown in the table on that chart, we believe the benefit is between $38.9 million at $42.2 million on an annual basis.
Our 2020 sales forecast, as we mentioned in last quarter, are about 7% lower than the 2019 adopted sales.
And, as I mentioned earlier, we would have been allowed to record additional revenue of $5.6 million to $10.9 million in the second quarter if the settlement had have been adopted, with the low end of the revenue range linked with $5.2 million reduction in depreciation expense.
I just wanted to point out that -- the two things that are the WRAM and the MCBA, we believe that on the -- in the second quarter, that's about $14.9 million that would have been recorded in those balancing accounts and the pension and medical cost balancing accounts, we believe, would have been $3.3 million.
It certainly has been an interesting second quarter dealing with the COVID-19 pandemic as, I think most people know, utility workers are considered essential workers, and therefore, most of our employees, 90%-plus of our employees have been at work, in the field every day.
As you may recall, the Company allocated $0.5 million for charitable contributions.
And remember, this is due in part to the increased unemployment rate and also in part to the regulatory commissions telling us that we can't have collection activity.
Our bills that are outstanding more than 90 days and those are the bills that would normally have been sent to collection, those bills increased to $3.4 million.
This is the bad debt reserve balance for doubtful accounts from $0.8 million to $1.6 million as of the end of the second quarter.
And in the second quarter, we recorded approximately $600,000 of incremental operating expenses to the memorandum account.
In addition to the $600,000 of incremental operating expenses, when we do have bad debts and those do go to collection at the end of this period that will be included in our request to the Commission for recovery.
At the end of June, at the end of the quarter, we had $114 million in cash and additional current capacity on our lines of credit of more than $170 million.
Just to remind everyone, California has Ag business that's over $60 billion.
It's the largest Ag state in the Union and we're growing in population from almost 40 million to 45 million over the next decade.
We have a lot of efforts focused on basically asking for a halt to get more evidence on the record and to have a full examination of all the data that's available for the last 12 years of decoupling.
Looking at the capital investments for the quarter, and this, frankly, was a highlight with everything going on that's been kind of negative news, it's nice to see that our capital program was up 9.5% compared to the same period last year.
So we had $133.5 million invested in the first half of 2020.
The Company previously estimated it would spend between $260 million and $290 million in capital during 2020.
In addition, we've added an incremental $5 million in capital investment for our Rainier View acquisition that closed during the second quarter.
You'll see -- you see in the slides that Rainier View added approximately 18,500 customers, the Kalaeloa system will add about 200 customers, and per the history of us [Phonetic], that's the -- a former Barbers Point air base on O'ahu that's going to be redeveloped into residential and commercial properties.
So, you add those up, closing out the two in Hawaii, that would add just under 4% to our total customer connection count for the year of 2020 which we think is very healthy, given all we've been dealing with the pandemic and everything else.
So on the capital investment history slide, which is Slide 19, we did update our 2021 projection to include an additional $5 million of investment in former Rainier View Water.
I will add and apologies that it's not in the deck, but you'll notice on Slide 20, we have -- the third row is called advice letters included in the settlement of about $150 million that's the California settlement.
This is a 96 point -- I think it's a $96 million authorized advice letter for that very large project -- the largest project in the Company's history, and we did make that advice letter filings.

Summary:
For the second quarter, I'll start at Slide 8, our net income decreased by $11.7 million to $5.3 million and that is a difference from a $0.35 gain in the second quarter of 2019 to an $0.11 gain in the second quarter of 2020, is that we had no rate relief from the California Commission.
And remember, this is due in part to the increased unemployment rate and also in part to the regulatory commissions telling us that we can't have collection activity.