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Revenues | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Most of Registrant’s revenues are derived from contracts with customers, including tariff-based revenues from its regulated utilities at GSWC and BVES. ASUS’s initial firm fixed-price long-term contracts with the U.S. government are considered service concession arrangements under ASC 853, Service Concession Arrangements. ASUS’s military base contracts consist primarily of 50-year contracts and one 15-year contract with the U.S. government. 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 BVES have a diversified customer 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. Most of ASUS’s revenues are derived from the U.S. government. For the three and six months ended June 30, 2024 and 2023, disaggregated revenues from contracts with customers by segment were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023 |
Water: |  |  |  |  |  |  |  |
Tariff-based revenues | $ | 96,065 |  |  | $ | 98,378 |  |  | $ | 180,726 |  |  | $ | 198,919 |  |
CPUC-approved surcharges (cost-recovery activities) | 912 |  |  | 558 |  |  | 1,459 |  |  | 875 |  |
Other | 668 |  |  | 649 |  |  | 1,250 |  |  | 1,386 |  |
Water revenues from contracts with customers | 97,645 |  |  | 99,585 |  |  | 183,435 |  |  | 201,180 |  |
WRAM under/(over)-collection (alternative revenue program) | 12,779 |  |  | 17,323 |  |  | 17,254 |  |  | 28,440 |  |
Total water revenues (1) | 110,424 |  |  | 116,908 |  |  | 200,689 |  |  | 229,620 |  |
Electric: |  |  |  |  |  |  |  |
Tariff-based revenues | 8,866 |  |  | 8,929 |  |  | 21,539 |  |  | 21,992 |  |
CPUC-approved surcharges (cost-recovery activities) | 29 |  |  | 117 |  |  | 103 |  |  | 266 |  |
Electric revenues from contracts with customers | 8,895 |  |  | 9,046 |  |  | 21,642 |  |  | 22,258 |  |
BRRAM under/(over)-collection (alternative revenue program) | (192) |  |  | (218) |  |  | (734) |  |  | (526) |  |
Total electric revenues | 8,703 |  |  | 8,828 |  |  | 20,908 |  |  | 21,732 |  |
Contracted services: |  |  |  |  |  |  |  |
Water | 21,603 |  |  | 19,181 |  |  | 43,170 |  |  | 41,669 |  |
Wastewater | 14,598 |  |  | 12,483 |  |  | 25,812 |  |  | 25,802 |  |
Contracted services revenues from contracts with customers | 36,201 |  |  | 31,664 |  |  | 68,982 |  |  | 67,471 |  |
Total AWR revenues | $ | 155,328 |  |  | $ | 157,400 |  |  | $ | 290,579 |  |  | $ | 318,823 |  |
(1) Water revenues for the six months ended June 30, 2023 include approximately $32 million recorded from the impact of retroactive revenues for the full year of 2022 as a result of the CPUC’s approval of GSWC’s general rate case in June 2023. Furthermore, the CPUC also issued a final decision in June 2023 on GSWC’s cost of capital proceeding. As a result of the final cost of capital decision, the three and six months ended June 30, 2023 include an increase in water revenues of $9.3 million and $6.4 million, respectively, from the reversal of revenues subject to refund due to a change in estimates from what had been recorded during 2022 and the first quarter of 2023. The opening and closing balances of the receivable from the U.S. government, contract assets, and contract liabilities from contracts with customers, which are related entirely to ASUS, were as follows:
(dollars in thousands) |  | June 30, 2024 |  | December 31, 2023
Unbilled receivables |  | $ | 10,518 |  |  | $ | 9,693 |
Receivable from the U.S. government |  | $ | 90,330 |  |  | $ | 91,489 |
Contract assets |  | $ | 19,063 |  |  | $ | 14,378 |
Contract liabilities |  | $ | 1,239 |  |  | $ | 1,352 |
Unbilled receivables and Receivable from the U.S. government represent receivables where the right to payment is conditional only by the passage of time. Contract Assets - Contract assets are assets 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 liabilities 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 six months ended June 30, 2024, which were included in contract liabilities at the beginning of the period were not material. Contracted services revenues recognized during the six months ended June 30, 2024 from performance obligations satisfied in previous periods were also not material. As of June 30, 2024, AWR’s aggregate remaining performance obligations, which are entirely from the contracted services segment, were $4.0 billion. ASUS expects to recognize revenue on these remaining performance obligations over the remaining term of each of the contracts, which range from 15 to 50 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 contract term for convenience of the U.S. government.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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