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v3.25.1

Business Segments (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of reporting segments information | The following tables present information by reportable segment and AWR (parent) that reconcile segment net income (loss) to total consolidated net income (loss) and segment assets to total consolidated assets. The utility plant balances are net of respective accumulated provisions for depreciation. The net property, plant and equipment of the electric segment is presented net of Contributions in Aid of Construction (CIAC). Capital additions reflect capital expenditures paid in cash and exclude U.S. government-funded and third-party prime funded capital expenditures for ASUS’s subsidiaries and property installed by developers and conveyed to GSWC and BVES.
|  | For The Three Months Ended March 31, 2025
|  |  |  |  |  |  |  | Total |  |  |  |
|  |  |  | Contracted |  | Reportable |  | AWR |  | Consolidated
(dollars in thousands) |  | Water |  | Electric |  | Services |  | Segments |  | Parent |  | AWR
Operating revenues |  | $ | 102,003 |  |  | $ | 15,002 |  |  | $ | 31,008 |  |  | $ | 148,013 |  |  | $ | — |  |  | $ | 148,013 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Supply costs |  | 25,423 |  |  | 4,065 |  |  | — |  |  | 29,488 |  |  | — |  |  | 29,488 |
Other operation |  | 6,675 |  |  | 1,241 |  |  | 2,574 |  |  | 10,490 |  |  | — |  |  | 10,490 |
Administrative and general |  | 17,657 |  |  | 3,098 |  |  | 6,119 |  |  | 26,874 |  |  | 1 |  |  | 26,875 |
Depreciation and amortization expense (1) |  | 9,824 |  |  | 885 |  |  | 873 |  |  | 11,582 |  |  | — |  |  | 11,582 |
Maintenance |  | 2,004 |  |  | 911 |  |  | 1,232 |  |  | 4,147 |  |  | — |  |  | 4,147 |
Property and other taxes |  | 5,624 |  |  | 686 |  |  | 642 |  |  | 6,952 |  |  | — |  |  | 6,952 |
ASUS construction expense |  | — |  |  | — |  |  | 12,933 |  |  | 12,933 |  |  | — |  |  | 12,933 |
Segment operating income (loss) |  | 34,796 |  |  | 4,116 |  |  | 6,635 |  |  | 45,547 |  |  | (1) |  |  | 45,546 |
Interest expense |  | (9,328) |  |  | (1,136) |  |  | (313) |  |  | (10,777) |  |  | (1,305) |  |  | (12,082) |
Interest income |  | 1,272 |  |  | 524 |  |  | 199 |  |  | 1,995 |  |  | 18 |  |  | 2,013 |
Gain (loss) on investments held in a trust |  | (586) |  |  | — |  |  | — |  |  | (586) |  |  | — |  |  | (586) |
Income tax expense (benefit) |  | 6,514 |  |  | 1,047 |  |  | 1,377 |  |  | 8,938 |  |  | (476) |  |  | 8,462 |
Other segment items income (expense) (2) |  | 266 |  |  | 169 |  |  | (20) |  |  | 415 |  |  | — |  |  | 415 |
Segment net income (loss) |  | $ | 19,906 |  |  | $ | 2,626 |  |  | $ | 5,124 |  |  | $ | 27,656 |  |  | $ | (812) |  |  | $ | 26,844 |
|  | For The Three Months Ended March 31, 2025
|  |  |  |  |  |  |  | Total |  |  |  |
|  |  |  | Contracted |  | Reportable |  | AWR |  | Consolidated
(dollars in thousands) |  | Water |  | Electric |  | Services |  | Segments |  | Parent |  | AWR
Capital additions (3) |  | $ | 57,858 |  |  | $ | 7,853 |  |  | $ | 1,854 |  |  | $ | 67,565 |  |  | $ | — |  |  | $ | 67,565 |
|  | For The Three Months Ended March 31, 2024
|  |  |  |  |  |  |  | Total |  |  |  |
|  |  |  |  |  | Contracted |  | Reportable |  | AWR |  | Consolidated
(dollars in thousands) |  | Water |  | Electric |  | Services |  | Segments |  |  |  | AWR
Operating revenues |  | $ | 90,265 |  |  | $ | 12,205 |  |  | $ | 32,781 |  |  | $ | 135,251 |  |  | $ | — |  |  | $ | 135,251 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Supply costs |  | 21,430 |  |  | 3,741 |  |  | — |  |  | 25,171 |  |  | — |  |  | 25,171 |
Other operation |  | 6,580 |  |  | 989 |  |  | 2,054 |  |  | 9,623 |  |  | — |  |  | 9,623 |
Administrative and general |  | 16,977 |  |  | 2,483 |  |  | 5,886 |  |  | 25,346 |  |  | 1 |  |  | 25,347 |
Depreciation and amortization expense (1) |  | 9,034 |  |  | 884 |  |  | 804 |  |  | 10,722 |  |  | — |  |  | 10,722 |
Maintenance |  | 1,828 |  |  | 373 |  |  | 1,024 |  |  | 3,225 |  |  | — |  |  | 3,225 |
Property and other taxes |  | 5,249 |  |  | 594 |  |  | 644 |  |  | 6,487 |  |  | — |  |  | 6,487 |
ASUS construction expense |  | — |  |  | — |  |  | 15,702 |  |  | 15,702 |  |  | — |  |  | 15,702 |
Segment operating income (loss) |  | 29,167 |  |  | 3,141 |  |  | 6,667 |  |  | 38,975 |  |  | (1) |  |  | 38,974 |
Interest expense |  | (9,392) |  |  | (1,196) |  |  | (520) |  |  | (11,108) |  |  | (1,747) |  |  | (12,855) |
Interest income |  | 1,511 |  |  | 331 |  |  | 203 |  |  | 2,045 |  |  | 25 |  |  | 2,070 |
Gain (loss) on investments held in a trust |  | 2,070 |  |  | — |  |  | — |  |  | 2,070 |  |  | — |  |  | 2,070 |
Income tax expense (benefit) |  | 5,824 |  |  | 560 |  |  | 1,560 |  |  | 7,944 |  |  | (548) |  |  | 7,396 |
Other segment items income (expense) (2) |  | 262 |  |  | 26 |  |  | (16) |  |  | 272 |  |  | — |  |  | 272 |
Segment net income (loss) |  | $ | 17,794 |  |  | $ | 1,742 |  |  | $ | 4,774 |  |  | $ | 24,310 |  |  | $ | (1,175) |  |  | $ | 23,135 |
|  | For The Three Months Ended March 31, 2024
|  |  |  |  |  |  |  | Total |  |  |  |
|  |  |  |  |  | Contracted |  | Reportable |  | AWR |  | Consolidated
(dollars in thousands) |  | Water |  | Electric |  | Services |  | Segments |  |  |  | AWR
Capital additions (3) |  | $ | 41,278 |  |  | $ | 5,216 |  |  | $ | 1,056 |  |  | $ | 47,550 |  |  | $ | — |  |  | $ | 47,550 |
(1) Depreciation computed on regulated utilities’ transportation equipment is recorded in other operating expenses and totaled $0.3 million and $0.2 million for the three months ended March 31, 2025 and 2024, respectively. (2) Other segment items primarily consist of a) non-service cost components related to GSWC’s benefit plans, and b) AFUDC on BVES capital projects. (3) Capital additions reflect capital expenditures paid in cash and exclude U.S. government-funded and third-party prime funded capital expenditures for ASUS’s subsidiaries and property installed by developers and conveyed to GSWC and BVES.
Schedule of reconciliation of total utility plant (a key figure for rate-making) to total consolidated assets | The following tables reconciles segment net property, plant and equipment to total consolidated assets (in thousands):
|  | As Of March 31, 2025
|  |  |  |  |  |  |  | Total |  |  |  |  |  |
|  |  |  |  |  | Contracted |  | Reportable |  | AWR |  | Less |  | Consolidated
|  | Water |  | Electric |  | Services |  | Segments |  | Parent |  | Eliminations |  | AWR
Total net property, plant and equipment (4) |  | $ | 1,944,898 |  |  | $ | 173,805 |  |  | $ | 18,788 |  |  | $ | 2,137,491 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,137,491 |
Other assets |  | 216,093 |  |  | 58,059 |  |  | 131,803 |  |  | 405,955 |  |  | 1,067,797 |  |  | (1,065,790) |  |  | 407,962 |
Total consolidated assets |  | $ | 2,160,991 |  |  | $ | 231,864 |  |  | $ | 150,591 |  |  | $ | 2,543,446 |  |  | $ | 1,067,797 |  |  | $ | (1,065,790) |  |  | $ | 2,545,453 |
|  | As Of December 31, 2024
|  |  |  |  |  |  |  | Total |  |  |  |  |  |
|  |  |  |  |  | Contracted |  | Reportable |  | AWR |  | Less |  | Consolidated
|  | Water |  | Electric |  | Services |  | Segments |  | Parent |  | Eliminations |  | AWR
Total net property, plant and equipment (4) |  | $ | 1,911,369 |  |  | $ | 170,349 |  |  | $ | 17,907 |  |  | $ | 2,099,625 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,099,625 |
Other assets |  | 220,612 |  |  | 50,048 |  |  | 126,279 |  |  | 396,939 |  |  | 1,045,732 |  |  | (1,042,087) |  |  | 400,584 |
Total consolidated assets |  | $ | 2,131,981 |  |  | $ | 220,397 |  |  | $ | 144,186 |  |  | $ | 2,496,564 |  |  | $ | 1,045,732 |  |  | $ | (1,042,087) |  |  | $ | 2,500,209 |
(4) The utility plant balances are net of respective accumulated provisions for depreciation.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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