Selected Quarterly Financial Data (Unaudited) (Notes)

12 Months Ended

Dec. 31, 2020

Note 21 — Selected Quarterly Financial Data (Unaudited)

The quarterly financial information presented below is unaudited. Registrant's business is seasonal, and it is management’s opinion that comparisons of earnings for the quarterly periods do not reflect overall trends and changes in Registrant’s operations.


	AWR
	For The Year Ended December 31, 2020
(in thousands, except per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
Operating revenues	$	109,077	$	121,278	$	133,688	$	124,200	$	488,243
Operating income	25,699		35,716		39,807		29,277		130,499
Net income	14,072		25,612		26,530		20,211		86,425
Basic earnings per share	0.38		0.69		0.72		0.55		2.34
Diluted earnings per share	0.38		0.69		0.72		0.54		2.33


	GSWC
	For The Year Ended December 31, 2020
(in thousands)	First Quarter		Second Quarter		Third Quarter (1)		Fourth Quarter (1)		Year (1)
Operating revenues	$	82,392	$	94,753	$	98,701	$	73,438	$	349,284
Operating income	22,092		30,175		33,149		17,480		102,896
Net income	11,202		20,919		21,143		11,707		64,971


	AWR
	For The Year Ended December 31, 2019
(in thousands, except per share amounts)	First Quarter		Second Quarter (2)		Third Quarter (3)		Fourth Quarter		Year
Operating revenues	$	101,733	$	124,647	$	134,496	$	112,993	$	473,869
Operating income	20,195		39,430		42,724		24,724		127,073
Net income	12,852		26,784		28,006		16,700		84,342
Basic earnings per share	0.35		0.72		0.76		0.45		2.28
Diluted earnings per share	0.35		0.72		0.76		0.45		2.28


	GSWC
	For The Year Ended December 31, 2019
(in thousands)	First Quarter		Second Quarter (2)		Third Quarter (3)		Fourth Quarter		Year
Operating revenues	$	75,352	$	95,548	$	107,245	$	81,233	$	359,378
Operating income	15,327		34,037		36,982		18,746		105,092
Net income	9,022		22,298		23,362		11,981		66,663

(1) As a result of GSWC's transfer of electric net assets to BVESI, from July 1, 2020 onward, operating results of the electric segment are no longer included in GSWC's financial statements, but continue to be included in AWR's consolidated financial statements. GSWC's operating revenues, operating income and net income for 2020 includes the electric segment's results through June 30, 2020.

(2) The second quarter of 2019 includes approximately $4.0 million of operating income related to the first quarter of 2019 as a result of the final CPUC decision on the water general rate case, which was received in May 2019 and was retroactive to January 1, 2019.

(3) The third quarter of 2019 includes the retroactive impact of the final decision on the electric general rate case approved by the CPUC in August 2019, which was retroactive to January 1, 2018. Included in the third quarter of 2019 results are approximately $1.4 million of pretax income related to the first two quarters of 2019 and approximately $2.3 million of pretax income related to 2018.