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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of significant components of the deferred tax assets and liabilities from continuing operations

The significant components of the deferred tax assets and liabilities as reflected in the balance sheets at December 31, 2019 and 2018 are:

		AWR								GSWC
		December 31,								December 31,
(dollars in thousands)		2019				2018				2019				2018
Deferred tax assets:
Regulatory-liability-related (1)		$	33,080			$	33,419			$	33,080			$	33,419
Contributions and advances		5,777				5,281				6,158				5,666
Other		5,792				2,988				6,618				3,310
Total deferred tax assets		$	44,649			$	41,688			$	45,856			$	42,395
Deferred tax liabilities:
Fixed assets		$	(144,444	)		$	(131,413	)		$	(147,759	)		$	(135,617	)
Regulatory-asset-related: depreciation and other		(20,641		)		(18,146		)		(20,641		)		(18,146		)
Balancing and memorandum accounts (non-flow-through)		(4,868		)		(6,325		)		(5,262		)		(6,873		)
Total deferred tax liabilities		(169,953		)		(155,884		)		(173,662		)		(160,636		)
Accumulated deferred income taxes - net		$	(125,304	)		$	(114,196	)		$	(127,806	)		$	(118,241	)

Schedule of current and deferred components of income tax expense from continuing operations

The current and deferred components of income tax expense are as follows:

		AWR
		Year Ended December 31,
(dollars in thousands)		2019				2018				2017
Current
Federal		$	12,507			$	17,252			$	20,978
State		5,540				6,538				5,844
Total current tax expense		$	18,047			$	23,790			$	26,822
Deferred
Federal		$	6,407			$	(4,334	)		$	11,543
State		216				(1,439		)		609
Total deferred tax (benefit) expense		6,623				(5,773		)		12,152
Total income tax expense		$	24,670			$	18,017			$	38,974

		GSWC
		Year Ended December 31,
(dollars in thousands)		2019				2018				2017
Current
Federal		$	9,616			$	14,488			$	15,044
State		5,480				5,932				5,045
Total current tax expense		$	15,096			$	20,420			$	20,089
Deferred
Federal		$	4,924			$	(5,531	)		$	11,770
State		157				(1,286		)		2,200
Total deferred tax (benefit) expense		5,081				(6,817		)		13,970
Total income tax expense		$	20,177			$	13,603			$	34,059

Schedule of reconciliations of the effective tax rates to the federal statutory rate

The reconciliations of the effective tax rates to the federal statutory rate are as follows:

		AWR
		Year Ended December 31,
(dollars in thousands)		2019				2018				2017
Federal taxes on pretax income at statutory rate (21% in 2019 and 2018; 35% in 2017)		$	22,872			$	17,196			$	37,919
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit		4,758				3,693				4,382
Change in tax rate		—				(14		)		(82		)
Excess deferred tax amortization		(1,579		)		(2,101		)		—
Flow-through on fixed assets		1,244				429				845
Flow-through on removal costs		(1,582		)		(1,445		)		(1,980		)
Domestic production activities deduction		—				(26		)		(1,421		)
Investment tax credit		(71		)		(69		)		(93		)
Other – net		(972		)		354				(596		)
Total income tax expense from operations		$	24,670			$	18,017			$	38,974
Pretax income from operations		$	109,012			$	81,888			$	108,341
Effective income tax rate		22.6		%		22.0		%		36.0		%

		GSWC
		Year Ended December 31,
(dollars in thousands)		2019				2018				2017
Federal taxes on pretax income at statutory rate (21% in 2019 and 2018; 35% in 2017)		$	18,236			$	12,939			$	30,736
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit		4,656				3,335				4,924
Change in tax rate		—				—				1,063
Excess deferred tax amortization		(1,579		)		(2,101		)		—
Flow-through on fixed assets		1,244				429				845
Flow-through on removal costs		(1,582		)		(1,445		)		(1,980		)
Domestic production activities deduction		—				(25		)		(1,148		)
Investment tax credit		(71		)		(69		)		(93		)
Other – net		(727		)		540				(288		)
Total income tax expense from operations		$	20,177			$	13,603			$	34,059
Pretax income from operations		$	86,840			$	61,615			$	87,816
Effective income tax rate		23.2		%		22.1		%		38.8		%

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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