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Regulatory Assets and Liabilities | 9 Months Ended
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Sep. 30, 2024
Regulated Operations [Abstract] |
Regulatory Assets and Liabilities | Regulatory Assets and Liabilities Regulatory assets and liabilities were comprised of the following as of September 30, 2024 and December 31, 2023:
| Recovery Period |  | September 30, 2024 |  | December 31, 2023
Regulatory Assets |  |  |  |  |
Property-related temporary differences (tax benefits flowed through to customers) | Indefinite |  | $ | 158,486 |  |  | $ | 158,486 |
IRMA long-term accounts receivable | Various |  | 49,505 |  |  | 3,430 |
Asset retirement obligations, net | Indefinite |  | 29,134 |  |  | 26,686 |
Other accrued benefits | Indefinite |  | 26,663 |  |  | 25,363 |
Tank coating | Various |  | 21,345 |  |  | 19,602 |
MWRAM | 1 - 2 years |  | 14,253 |  |  | — |
General district balancing account | 1 year |  | 10,945 |  |  | 390 |
Customer assistance program (CAP) and Rate support fund (RSF) accounts receivable | 1 year |  | 9,056 |  |  | 2,459 |
Incremental cost balancing account (ICBA) | 1 year |  | 9,479 |  |  | — |
Net WRAM and modified cost balancing account (MCBA) long-term accounts receivable | Various |  | 4,216 |  |  | 10,738 |
Pension cost balancing account (PCBA) | Various |  | — |  |  | 4,182 |
Recoverable property losses | Various |  | 2,625 |  |  | 3,121 |
Other regulatory assets | Various |  | 4,712 |  |  | 3,164 |
Total Regulatory Assets |  |  | $ | 340,419 |  |  | $ | 257,621 |
Regulatory Liabilities |  |  |  |  |
Cost of removal |  |  | $ | 474,264 |  |  | $ | 447,356 |
Future tax benefits due to customers |  |  | 109,491 |  |  | 118,051 |
Pension and retiree group health |  |  | 101,984 |  |  | 88,728 |
Other components of net periodic benefit cost |  |  | 16,952 |  |  | 10,348 |
PCBA |  |  | 14,085 |  |  | 8,972 |
ICBA |  |  | 6,517 |  |  | — |
Health cost balancing account (HCBA) |  |  | 3,979 |  |  | 3,242 |
Net WRAM and MCBA long-term payable |  |  | 2,967 |  |  | 2,071 |
Conservation Expense Balancing Account |  |  | 2,828 |  |  | 1,200 |
RSF regulatory liability |  |  | — |  |  | 2,116 |
Other regulatory liabilities |  |  | 1,858 |  |  | 1,633 |
Total Regulatory Liabilities |  |  | $ | 734,925 |  |  | $ | 683,717 |
The IRMA regulatory asset increase was for the additional amount the Company would have billed customers in 2023 and the first five months of 2024 had the 2021 GRC been approved on time. The MWRAM regulatory asset represents the difference between the revenue received for actual metered sales through the tiered volumetric rate and the revenue that would have been received with the same actual metered sales if a uniform rate had been in effect. The general district balancing account represents the residual balances from memorandum and balancing accounts that have been aggregated into one balancing account for future recovery. The ICBA tracks differences between the authorized prices of water production costs and actual prices of water production costs by ratemaking area. Short-term regulatory assets and liabilities are excluded from the above table. The short-term regulatory assets were $59.1 million as of September 30, 2024 and $64.2 million as of December 31, 2023. The short-term regulatory assets as of September 30, 2024 primarily consisted of IRMA and MWRAM receivables. As of December 31, 2023, the short-term regulatory assets primarily consisted of net WRAM and MCBA, and PCBA receivables. The short-term regulatory assets are included in current assets as part of regulatory balancing accounts on the unaudited Condensed Consolidated Balance Sheets. The short-term portion of regulatory liabilities was $24.1 million as of September 30, 2024 and $21.5 million as of December 31, 2023. The short-term regulatory liabilities as of September 30, 2024 primarily consisted of Tax Cuts and Jobs Act regulatory liabilities, ICBA regulatory liabilities, and IRMA regulatory liabilities. As of December 31, 2023, the short-term regulatory liabilities primarily consisted of Tax Cuts and Jobs Act regulatory liabilities and HCBA liabilities. The short-term regulatory liabilities are included in current liabilities as part of regulatory balancing accounts on the unaudited Condensed Consolidated Balance Sheets.

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