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Business Segments

6 Months Ended

Jun. 30, 2019

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 equity investments in its subsidiaries and note receivables therefrom, and deferred taxes. 

All activities of GSWC, a rate-regulated utility, are geographically located within California. Activities of ASUS and its subsidiaries are conducted in California, Georgia, Florida, Kansas, Maryland, New Mexico, North Carolina, South Carolina, Texas and Virginia.  Each of ASUS’s wholly owned subsidiaries is regulated, if applicable, 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, 2019
		GSWC												AWR				Consolidated
(dollars in thousands)		Water				Electric				ASUS				Parent				AWR
Operating revenues		$	88,140			$	7,408			$	29,099			$	—			$	124,647
Operating income (loss)		33,259				778				5,395				(2		)		39,430
Interest expense, net		5,112				346				(219		)		167				5,406
Utility plant		1,273,962				63,462				18,239				—				1,355,663
Depreciation and amortization expense (1)		5,405				601				649				—				6,655
Income tax expense (benefit)		6,812				14				1,300				(295		)		7,831
Capital additions		36,293				1,254				3,046				—				40,593

		As Of And For The Three Months Ended June 30, 2018
		GSWC												AWR				Consolidated
(dollars in thousands)		Water				Electric				ASUS				Parent				AWR
Operating revenues		$	76,733			$	7,841			$	22,327			$	—			$	106,901
Operating income (loss)		21,244				1,401				2,925				(2		)		25,568
Interest expense, net		5,047				353				(71		)		83				5,412
Utility plant		1,166,867				60,504				11,418				—				1,238,789
Depreciation and amortization expense (1)		8,866				564				580				—				10,010
Income tax expense (benefit)		3,909				305				705				(532		)		4,387
Capital additions		24,768				1,150				2,500				—				28,418

		As Of And For The Six Months Ended June 30, 2019
		GSWC												AWR			Consolidated
(dollars in thousands)		Water				Electric				ASUS				Parent			AWR
Operating revenues		$	152,863			$	18,037			$	55,480						$	226,380
Operating income (loss)		46,525				2,839				10,265				(4	)		59,625
Interest expense, net		10,349				699				(580		)		313			10,781
Utility plant		1,273,962				63,462				18,239				—			1,355,663
Depreciation and amortization expense (1)		14,794				1,201				1,492				—			17,487
Income tax expense (benefit)		8,485				461				2,425				(230	)		11,141
Capital additions		74,672				1,988				4,495				—			81,155

		As Of And For The Six Months Ended June 30, 2018
		GSWC												AWR				Consolidated
(dollars in thousands)		Water				Electric				ASUS				Parent				AWR
Operating revenues		$	141,145			$	17,673			$	42,811			$	—			$	201,629
Operating income (loss)		35,302				3,640				5,322				(5		)		44,259
Interest expense, net		10,056				723				(137		)		157				10,799
Utility plant		1,166,867				60,504				11,418				—				1,238,789
Depreciation and amortization expense (1)		17,635				1,129				912				—				19,676
Income tax expense (benefit)		5,558				771				1,259				(637		)		6,951
Capital additions		51,386				2,124				5,272				—				58,782

(1)      Depreciation computed on GSWC’s transportation equipment is recorded in other operating expenses and totaled $96,000

and $61,000 for the three months ended June 30, 2019 and 2018, respectively, and $154,000 and $121,000 for the six months ended June 30, 2019 and 2018, respectively.

The following table reconciles total utility plant (a key figure for ratemaking) to total consolidated assets (in thousands):

		June 30,
		2019				2018
Total utility plant		$	1,355,663			$	1,238,789
Other assets		211,620				202,333
Total consolidated assets		$	1,567,283			$	1,441,122

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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