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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021 are:

						AWR												GSWC
						December 31,												December 31,
(dollars in thousands)						2022						2021						2022						2021
Deferred tax assets:
Regulatory-liability-related (1)						$	31,330					$	32,220					$	29,623					$	30,410
Contributions and advances						6,544						6,850						6,896						7,227
Other						7,424						5,324						7,874						5,689
Total deferred tax assets						$	45,298					$	44,394					$	44,393					$	43,326
Deferred tax liabilities:
Fixed assets						$	(155,955)					$	(150,290)					$	(150,133)					$	(144,719)
Regulatory-asset-related: depreciation and other						(30,226)						(25,914)						(28,489)						(24,858)
Balancing and memorandum accounts (non-flow-through)						(8,794)						(8,480)						(4,559)						(6,063)
Total deferred tax liabilities						(194,975)						(184,684)						(183,181)						(175,640)
Accumulated deferred income taxes, net						$	(149,677)					$	(140,290)					$	(138,788)					$	(132,314)

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)						2022						2021						2020
Current
Federal						$	14,845					$	19,592					$	19,240
State						6,016						7,270						6,714
Total current tax expense						$	20,861					$	26,862					$	25,954
Deferred
Federal						$	2,991					$	2,802					$	1,814
State						(188)						759						429
Total deferred tax (benefit) expense						2,803						3,561						2,243
Total income tax expense						$	23,664					$	30,423					$	28,197

						GSWC
						Year Ended December 31,
(dollars in thousands)						2022						2021						2020
Current
Federal						$	10,582					$	13,698					$	14,674
State						4,909						6,089						5,849
Total current tax expense						$	15,491					$	19,787					$	20,523
Deferred
Federal						$	1,507					$	2,251					$	949
State						(652)						57						232
Total deferred tax (benefit) expense						855						2,308						1,181
Total income tax expense						$	16,346					$	22,095					$	21,704

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

:

						AWR
						Year Ended December 31,
(dollars in thousands)						2022						2021						2020
Federal taxes on pretax income at statutory rate						$	21,433					$	26,202					$	24,071
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit						4,335						6,425						5,764
Excess deferred tax amortization						(1,311)						(1,356)						(1,550)
Flow-through on fixed assets						1,076						1,069						1,056
Flow-through on removal costs						(1,802)						(1,962)						(1,031)
Investment tax credit						(71)						(71)						(71)
Other – net						4						116						(42)
Total income tax expense from operations						$	23,664					$	30,423					$	28,197
Pretax income from operations						$	102,060					$	124,770					$	114,622
Effective income tax rate						23.2		%				24.4		%				24.6		%

						GSWC
						Year Ended December 31,
(dollars in thousands)						2022						2021						2020
Federal taxes on pretax income at statutory rate						$	14,724					$	19,175					$	18,202
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit						3,119						4,923						4,920
Excess deferred tax amortization						(1,130)						(1,184)						(1,477)
Flow-through on fixed assets						1,010						1,008						1,042
Flow-through on removal costs						(1,715)						(1,954)						(1,026)
Investment tax credit						(71)						(71)						(71)
Other – net						409						198						114
Total income tax expense from operations						$	16,346					$	22,095					$	21,704
Pretax income from operations						$	70,116					$	91,310					$	86,675
Effective income tax rate						23.3		%				24.2		%				25.0		%

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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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-Publisher FASB
-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

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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