XML 39 R5.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Revenues      
Water $ 319,830 $ 295,258 $ 306,332
Electric 39,548 34,350 33,969
Contracted services 114,491 107,208 100,302
Total operating revenues 473,869 436,816 440,603
Operating Expenses      
Water purchased 72,289 68,904 68,302
Power purchased for pumping 8,660 8,971 8,518
Groundwater production assessment 18,962 19,440 18,638
Power purchased for resale 11,796 11,590 10,720
Supply cost balancing accounts (7,026) (15,649) (17,939)
Other operation 32,756 31,650 29,994
Administrative and general 83,034 82,595 81,643
Depreciation and amortization [1] 35,397 40,425 39,031
Maintenance 15,466 15,682 15,176
Property and other taxes 20,042 18,404 17,905
ASUS construction 55,673 53,906 49,838
Gain on sale of assets (253) (85) (8,318)
Total operating expenses 346,796 335,833 313,508
Operating Income 127,073 100,983 127,095
Other Income and Expenses      
Interest expense (24,586) (23,433) (22,582)
Interest income 3,249 3,578 1,790
Other, net 3,276 760 2,038
Total other income and expenses (18,061) (19,095) (18,754)
Income before income tax expense 109,012 81,888 108,341
Income tax expense 24,670 18,017 38,974
Net Income $ 84,342 $ 63,871 $ 69,367
Basic Earnings Per Common Share      
Weighted Average Number of Shares Outstanding (in shares) 36,814 36,733 36,638
Earnings Per Share, Basic $ 2.28 $ 1.73 $ 1.88
Fully Diluted Earnings Per Share      
Weighted Average Number of Diluted Shares (in shares) 36,964 36,936 36,844
Earnings Per Share, Diluted $ 2.28 $ 1.72 $ 1.88
Dividends Declared Per Common Share (in dollars per share) $ 1.160 $ 1.060 $ 0.994
GSWC      
Operating Revenues      
Water $ 319,830 $ 295,258 $ 306,332
Electric 39,548 34,350 33,969
Total operating revenues 359,378 329,608 340,301
Operating Expenses      
Water purchased 72,289 68,904 68,302
Power purchased for pumping 8,660 8,971 8,518
Groundwater production assessment 18,962 19,440 18,638
Power purchased for resale 11,796 11,590 10,720
Supply cost balancing accounts (7,026) (15,649) (17,939)
Other operation 26,336 25,334 24,877
Administrative and general 59,905 62,156 62,408
Depreciation and amortization 32,441 38,395 37,852
Maintenance 12,843 13,104 12,970
Property and other taxes 18,168 16,809 16,402
Gain on sale of assets (88) (8) (8,318)
Total operating expenses 254,286 249,046 234,430
Operating Income 105,092 80,562 105,871
Other Income and Expenses      
Interest expense (23,399) (22,621) (22,055)
Interest income 1,867 2,890 1,766
Other, net 3,280 784 2,234
Total other income and expenses (18,252) (18,947) (18,055)
Income before income tax expense 86,840 61,615 87,816
Income tax expense 20,177 13,603 34,059
Net Income $ 66,663 $ 48,012 $ 53,757
[1]