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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020 are:

						AWR												GSWC
						December 31,												December 31,
(dollars in thousands)						2021						2020						2021						2020
Deferred tax assets:
Regulatory-liability-related (1)						$	32,220					$	32,640					$	30,410					$	30,782
Contributions and advances						6,850						6,390						7,227						6,771
Other						5,324						6,092						5,689						6,663
Total deferred tax assets						$	44,394					$	45,122					$	43,326					$	44,216
Deferred tax liabilities:
Fixed assets						$	(150,290)					$	(146,688)					$	(144,719)					$	(141,422)
Regulatory-asset-related: depreciation and other						(25,914)						(22,205)						(24,858)						(21,060)
Balancing and memorandum accounts (non-flow-through)						(8,480)						(7,401)						(6,063)						(6,315)
Total deferred tax liabilities						(184,684)						(176,294)						(175,640)						(168,797)
Accumulated deferred income taxes, net						$	(140,290)					$	(131,172)					$	(132,314)					$	(124,581)

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)						2021						2020						2019
Current
Federal						$	19,592					$	19,240					$	12,507
State						7,270						6,714						5,540
Total current tax expense						$	26,862					$	25,954					$	18,047
Deferred
Federal						$	2,802					$	1,814					$	6,407
State						759						429						216
Total deferred tax (benefit) expense						3,561						2,243						6,623
Total income tax expense						$	30,423					$	28,197					$	24,670

						GSWC
						Year Ended December 31,
(dollars in thousands)						2021						2020						2019
Current
Federal						$	13,698					$	14,674					$	9,616
State						6,089						5,849						5,480
Total current tax expense						$	19,787					$	20,523					$	15,096
Deferred
Federal						$	2,251					$	949					$	4,924
State						57						232						157
Total deferred tax (benefit) expense						2,308						1,181						5,081
Total income tax expense						$	22,095					$	21,704					$	20,177

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

:

						AWR
						Year Ended December 31,
(dollars in thousands)						2021						2020						2019
Federal taxes on pretax income at statutory rate						$	26,202					$	24,071					$	22,872
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit						6,425						5,764						4,758
Excess deferred tax amortization						(1,356)						(1,550)						(1,579)
Flow-through on fixed assets						1,069						1,056						1,244
Flow-through on removal costs						(1,962)						(1,031)						(1,582)
Investment tax credit						(71)						(71)						(71)
Other – net						116						(42)						(972)
Total income tax expense from operations						$	30,423					$	28,197					$	24,670
Pretax income from operations						$	124,770					$	114,622					$	109,012
Effective income tax rate						24.4		%				24.6		%				22.6		%

.

						GSWC
						Year Ended December 31,
(dollars in thousands)						2021						2020						2019
Federal taxes on pretax income at statutory rate						$	19,175					$	18,202					$	18,236
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit						4,923						4,920						4,656
Excess deferred tax amortization						(1,184)						(1,477)						(1,579)
Flow-through on fixed assets						1,008						1,042						1,244
Flow-through on removal costs						(1,954)						(1,026)						(1,582)
Investment tax credit						(71)						(71)						(71)
Other – net						198						114						(727)
Total income tax expense from operations						$	22,095					$	21,704					$	20,177
Pretax income from operations						$	91,310					$	86,675					$	86,840
Effective income tax rate						24.2		%				25.0		%				23.2		%

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- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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