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Regulatory Assets and Liabilities | 9 Months Ended
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Sep. 30, 2025
Regulated Operations [Abstract] |
Regulatory Assets and Liabilities | Regulatory Assets and Liabilities Regulatory assets and liabilities were comprised of the following as of September 30, 2025 and December 31, 2024:
| Recovery Period |  | September 30, 2025 |  | December 31, 2024
Regulatory Assets |  |  |  |  |
Property-related temporary differences (tax benefits flowed through to customers) | Indefinite |  | $ | 178,279 |  |  | $ | 178,279 |
Asset retirement obligations, net | Indefinite |  | 31,051 |  |  | 28,883 |
Other accrued benefits | Indefinite |  | 26,756 |  |  | 25,439 |
IRMA long-term accounts receivable | Various |  | 25,233 |  |  | 46,278 |
Tank coating | Various |  | 19,527 |  |  | 21,477 |
MWRAM long-term regulatory asset | 1 - 2 years |  | 13,570 |  |  | 16,353 |
General District Balancing Account receivable | Various |  | 9,724 |  |  | 9,393 |
Incremental Cost Balancing Accounts (ICBA) | 1 year |  | 4,608 |  |  | 8,251 |
Customer Assistance Program and Rate Support Fund accounts receivable | 1 year |  | 4,423 |  |  | 9,910 |
Net WRAM and Modified Cost Balancing Account (MCBA) long-term accounts receivable | Various |  | 3,776 |  |  | 3,633 |
Recoverable property losses | Various |  | 2,131 |  |  | 2,633 |
Other regulatory assets | Various |  | 7,441 |  |  | 6,877 |
Total Regulatory Assets |  |  | $ | 326,519 |  |  | $ | 357,406 |
Regulatory Liabilities |  |  |  |  |
Cost of removal |  |  | $ | 514,145 |  |  | $ | 483,108 |
Pension and retiree group health |  |  | 173,593 |  |  | 174,708 |
Future tax benefits due to customers |  |  | 104,154 |  |  | 106,184 |
PFAS settlement proceeds |  |  | 24,000 |  |  | — |
Other components of net periodic benefit cost |  |  | 22,812 |  |  | 18,287 |
Pension Cost Balancing Account |  |  | 17,009 |  |  | 14,143 |
Health Cost Balancing Account |  |  | 4,264 |  |  | 3,630 |
Net WRAM and MCBA long-term payable |  |  | 3,103 |  |  | 3,064 |
Conservation Expense Balancing Account |  |  | 2,909 |  |  | 3,294 |
ICBA |  |  | 2,548 |  |  | 6,003 |
Other regulatory liabilities |  |  | 2,083 |  |  | 2,130 |
Total Regulatory Liabilities |  |  | $ | 870,620 |  |  | $ | 814,551 |
Short-term regulatory assets and liabilities are excluded from the above table. The short-term regulatory assets were $74.0 million as of September 30, 2025 and $55.9 million as of December 31, 2024. The short-term regulatory assets as of September 30, 2025 primarily consisted of IRMA, MWRAM, and ICBA receivables. As of December 31, 2024, the short-term regulatory assets primarily consisted of IRMA and MWRAM receivables. The short-term regulatory assets are included in current assets under regulatory balancing accounts on the unaudited Condensed Consolidated Balance Sheets. The short-term portion of regulatory liabilities was $23.4 million as of September 30, 2025 and $22.6 million as of December 31, 2024. The short-term regulatory liabilities as of September 30, 2025 consisted of Tax Cuts and Jobs Act (TCJA) regulatory liabilities, ICBA regulatory liabilities, and PFAS settlement proceeds (see Note 9, Commitments and Contingencies). As of December 31, 2024, the short-term regulatory liabilities primarily consisted of TCJA regulatory liabilities, ICBA regulatory liabilities, and IRMA regulatory liabilities. The short-term regulatory liabilities are included in current liabilities under regulatory balancing accounts on the unaudited Condensed Consolidated Balance Sheets. The PFAS settlement proceeds in the table above represents amounts the Company does not expect to reclassify to Contributions in Aid of Construction (CIAC) in the next 12 months. The Company is required by the Commissions to provide the benefit of the PFAS settlement proceeds to customers through CIAC once PFAS related remediation projects are placed in service. Since the Company is required to provide the benefit of the settlement proceeds to customers, the Company recorded the PFAS settlement proceeds as a regulatory liability and will reclassify them to CIAC once the related projects are placed in service.

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