XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.1
Revenues
3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Most of Registrant's revenues are derived from contracts with customers, including tariff-based revenues of its regulated utilities, GSWC and BVESI. ASUS's initial 50-year firm fixed-price contracts with the U.S. government are considered service concession arrangements under ASC 853, Service Concession Arrangements. Accordingly, the services under these contracts are accounted for under Topic 606—Revenue from Contracts with Customers, and the water and/or wastewater systems are not recorded as Property, Plant and Equipment on Registrant’s balance sheets.
Although GSWC and BVESI have a diversified base of residential, commercial, industrial, and other customers, revenues derived from residential and commercial customers generally account for approximately 90% of total water and electric revenues. Almost all of ASUS's revenues are from the U.S. government. For the three months ended March 31, 2022 and 2021, disaggregated revenues from contracts with customers by segment were as follows:
Three Months Ended March 31,
(dollar in thousands)20222021
Water:
Tariff-based revenues$72,498 $74,288 
Surcharges (cost-recovery activities)549 534 
Other518 517 
Water revenues from contracts with customers
73,565 75,339 
WRAM under (over)-collection (alternative revenue program)341 (310)
Total water revenues
73,906 75,029 
Electric:
Tariff-based revenues12,552 11,677 
Surcharges (cost-recovery activities)27 202 
Electric revenues from contracts with customers
12,579 11,879 
BRRAM over-collection (alternative revenue program)(687)(340)
Total electric revenues11,892 11,539 
Contracted services:
Water 13,546 18,883 
Wastewater9,226 11,609 
Contracted services revenues from contracts with customers22,772 30,492 
Total AWR revenues$108,570 $117,060 
The opening and closing balances of ASUS's unbilled receivables, receivable from the U.S. government, contract assets, and contract liabilities from contracts with customers were as follows:    
(dollar in thousands)March 31, 2022December 31, 2021
Unbilled receivables$16,378 $14,835 
Receivable from the U.S. government$72,444 $79,818 
Contract assets$12,571 $9,587 
Contract liabilities$210 $257 
Contract Assets - Contract assets are those of ASUS and consist of unbilled revenues recognized from work-in-progress construction projects, where the right to payment is conditional on something other than the passage of time. The classification of this asset as current or noncurrent is based on the timing of when ASUS expects to bill these amounts.
Contract Liabilities - Contract liabilities are those of ASUS and consist of billings in excess of revenue recognized. The classification of this liability as current or noncurrent is based on the timing of when ASUS expects to recognize revenue.
Revenues for the three months ended March 31, 2022 that were included in contract liabilities at the beginning of the period were not material. Contracted services revenues recognized during the three months ended March 31, 2022 from performance obligations satisfied in previous periods were not material.
As of March 31, 2022, Registrant's aggregate remaining performance obligations, which are entirely for the contracted services segment, were $3.3 billion. Registrant expects to recognize revenue on these remaining performance obligations over the remaining term of each of the 50-year contracts, which range from 33 to 46 years. Each of the contracts with the U.S. government is subject to termination, in whole or in part, prior to the end of its 50-year term for convenience of the U.S. government.