XML 27 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Business Segments:
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Business Segments
Business Segments:
 
AWR has three reportable segments, water, electric and contracted services, whereas GSWC has two segments, water and electric. On a stand-alone basis, AWR has no material assets other than its investments in its subsidiaries on a stand-alone basis. 
 
All activities of GSWC, a rate-regulated utility, are geographically located within California. Activities of ASUS and its subsidiaries are conducted in California, Georgia, Maryland, New Mexico, North Carolina, South Carolina, Texas and Virginia.  Each of ASUS’s wholly owned subsidiaries is regulated by the state in which the subsidiary primarily conducts water and/or wastewater operations.  Fees charged for operations and maintenance and renewal and replacement services are based upon the terms of the contracts with the U.S. government which have been filed, as appropriate, with the commissions in the states in which ASUS’s subsidiaries are incorporated.
 
The tables below set forth information relating to GSWC’s operating segments, ASUS and its subsidiaries and other matters. Total assets by segment are not presented below, as certain of Registrant’s assets are not tracked by segment.  The utility plant amounts are net of respective accumulated provisions for depreciation. Capital additions reflect capital expenditures paid in cash, and exclude U.S. government- and third-party contractor-funded capital expenditures for ASUS and property installed by developers and conveyed to GSWC.
 
 
As Of And For The Three Months Ended June 30, 2016
 
 
GSWC
 
 
 
AWR
 
Consolidated
(dollars in thousands)
 
Water
 
Electric
 
ASUS
 
Parent
 
AWR
Operating revenues
 
$
81,058

 
$
7,701

 
$
23,195

 
$
—

 
$
111,954

Operating income (loss)
 
26,452

 
1,105

 
4,219

 
(2
)
 
31,774

Interest expense, net
 
5,052

 
344

 
10

 
7

 
5,413

Utility plant
 
1,048,127

 
53,734

 
5,276

 
—

 
1,107,137

Depreciation and amortization expense (1)
 
8,840

 
507

 
254

 
—

 
9,601

Income tax expense (benefit)
 
8,367

 
355

 
1,505

 
(171
)
 
10,056

Capital additions
 
32,393

 
2,862

 
625

 
—

 
35,880


 
 
As Of And For The Three Months Ended June 30, 2015
 
 
GSWC
 
 
 
AWR
 
Consolidated
(dollars in thousands)
 
Water
 
Electric
 
ASUS
 
Parent
 
AWR
Operating revenues
 
$
87,581

 
$
7,889

 
$
19,148

 
$
—

 
$
114,618

Operating income (loss)
 
26,472

 
763

 
3,297

 
(2
)
 
30,530

Interest expense, net
 
5,108

 
311

 
8

 
(2
)
 
5,425

Utility plant
 
963,147

 
47,961

 
4,399

 
—

 
1,015,507

Depreciation and amortization expense (1)
 
9,768

 
467

 
301

 
—

 
10,536

Income tax expense (benefit)
 
8,587

 
213

 
888

 
(154
)
 
9,534

Capital additions
 
13,918

 
2,605

 
294

 
—

 
16,817


 
 
As Of And For The Six Months Ended June 30, 2016
 
 
GSWC
 
 
 
AWR
 
Consolidated
(dollars in thousands)
 
Water
 
Electric
 
ASUS
 
Parent
 
AWR
Operating revenues
 
$
147,370

 
$
18,274

 
$
39,837

 
$
—

 
$
205,481

Operating income (loss)
 
43,860

 
3,340

 
5,811

 
(4
)
 
53,007

Interest expense, net
 
10,127

 
669

 
17

 
51

 
10,864

Utility plant
 
1,048,127

 
53,734

 
5,276

 
—

 
1,107,137

Depreciation and amortization expense (1)
 
17,863

 
1,014

 
515

 
—

 
19,392

Income tax expense (benefit)
 
12,953

 
1,209

 
2,078

 
(371
)
 
15,869

Capital additions
 
60,534

 
3,682

 
1,118

 
—

 
65,334


 
 
As Of And For The Six Months Ended June 30, 2015
 
 
GSWC
 
 
 
AWR
 
Consolidated
(dollars in thousands)
 
Water
 
Electric
 
ASUS
 
Parent
 
AWR
Operating revenues
 
$
159,085

 
$
18,858

 
$
37,608

 
$
—

 
$
215,551

Operating income (loss)
 
46,213

 
3,495

 
5,717

 
(5
)
 
55,420

Interest expense, net
 
9,909

 
624

 
16

 
(8
)
 
10,541

Utility plant
 
963,147

 
47,961

 
4,399

 
—

 
1,015,507

Depreciation and amortization expense (1)
 
19,709

 
767

 
608

 
—

 
21,084

Income tax expense (benefit)
 
14,731

 
1,316

 
1,759

 
(374
)
 
17,432

Capital additions
 
30,162

 
3,679

 
366

 
—

 
34,207

 
(1)         Depreciation computed on GSWC’s transportation equipment is recorded in other operating expenses and totaled $192,000 and $151,000 for the three months ended June 30, 2016 and 2015, respectively, and $367,000 and $374,000 for the six months ended June 30, 2016 and 2015, respectively.

The following table reconciles total utility plant (a key figure for ratemaking) to total consolidated assets (in thousands):
 
 
June 30,
 
 
2016
 
2015
Total utility plant
 
$
1,107,137

 
$
1,015,507

Other assets
 
299,162

 
323,023

Total consolidated assets (2)
 
$
1,406,299

 
$
1,338,530


 
(2) Total consolidated assets shown as of June 30, 2016 and 2015 excludes $4.5 million and $4.8 million, respectively, of debt issuance costs (except for credit facility costs), which were previously reported as "Other assets" prior to the adoption of Accounting Standard Updated 2015-03, Simplifying the Presentation of Debt Issuance Costs as disclosed in Note 1. Credit Facility costs continue to be reported as "Other assets."