XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Operating Revenues        
Water $ 86,232 $ 84,069 $ 156,989 $ 153,302
Electric 8,328 8,397 18,784 19,131
Contracted services 21,081 28,229 41,813 58,814
Total operating revenues 115,641 120,695 217,586 231,247
Operating Expenses        
Water purchased 16,263 16,670 27,487 27,402
Power purchased for pumping 2,570 2,332 4,534 3,971
Groundwater production assessment 4,853 3,823 8,393 7,010
Power purchased for resale 1,988 2,828 4,687 6,508
Supply cost balancing accounts (106) (377) 712 994
Other operation 7,085 6,519 14,032 11,973
Administrative and general 19,407 18,113 39,591 36,020
Depreciation and amortization 10,525 9,768 21,055 19,584 [1]
Maintenance 4,327 4,913 7,816 8,847
Property and other taxes 3,965 3,748 8,290 7,896
ASUS construction 13,764 19,064 27,221 39,797
Net gain on sale of property     0 (12)
Total operating expenses 84,641 87,401 163,818 169,990
Operating Income 31,000 33,294 53,768 61,257
Other Income and Expenses        
Interest expense (5,778) (5,768) (11,405) (11,546)
Interest income 123 140 235 327
Other, net 271 84 396 426
Total other income and expenses (5,384) (5,544) (10,774) (10,793)
Income from operations before income tax expense 25,616 27,750 42,994 50,464
Income tax expense 10,262 11,148 16,619 20,397
Net Income (Loss) Attributable to Parent 15,354 16,602 26,375 30,067
Weighted Average Number of Common Shares Outstanding (in shares) 38,781 38,612 38,764 38,570
Basic Earnings Per Common Share (in dollars per share) $ 0.39 $ 0.43 $ 0.68 $ 0.77
Weighted Average Number of Diluted Shares (in shares) 39,001 38,692 38,974 38,648
Fully Diluted Earnings Per Common Share (in dollars per share) $ 0.39 $ 0.43 $ 0.67 $ 0.77
Dividends Paid Per Common Share (in dollars per share) $ 0.2025 $ 0.1775 $ 0.405 $ 0.355
GOLDEN STATE WATER COMPANY
        
Operating Revenues        
Water 86,232 84,069 156,989 153,302
Electric 8,328 8,397 18,784 19,131
Total operating revenues 94,560 92,466 175,773 172,433
Operating Expenses        
Water purchased 16,263 16,670 27,487 27,402
Power purchased for pumping 2,570 2,332 4,534 3,971
Groundwater production assessment 4,853 3,823 8,393 7,010
Power purchased for resale 1,988 2,828 4,687 6,508
Supply cost balancing accounts (106) (377) 712 994
Other operation 6,448 5,842 12,804 10,639
Administrative and general 16,424 15,166 33,409 29,400
Depreciation and amortization 10,232 9,484 20,472 19,006
Maintenance 3,783 4,365 6,844 7,858
Property and other taxes 3,530 3,375 7,426 7,091
Total operating expenses 65,985 63,508 126,768 119,879
Operating Income 28,575 28,958 49,005 52,554
Other Income and Expenses        
Interest expense (5,721) (5,726) (11,332) (11,474)
Interest income 113 140 222 318
Other, net 272 85 396 427
Total other income and expenses (5,336) (5,501) (10,714) (10,729)
Income from operations before income tax expense 23,239 23,457 38,291 41,825
Income tax expense 9,783 9,643 15,488 17,306
Net Income (Loss) Attributable to Parent $ 13,456 $ 13,814 $ 22,803 $ 24,519
[1] Depreciation expense computed on GSWC’s transportation equipment of $225,000 and $218,000 for the three months ended June 30, 2014 and 2013, respectively, and $497,000 and $468,000 for the six months ended June 30, 2014 and 2013, respectively, is recorded in administrative and general expenses.