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Defined Benefit Plan (Tables)

6 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

June 30, 2017, utility plant included $265 of pension non-service cost in utility plant. The components of net periodic benefit cost have been recorded in the consolidated statements of comprehensive income as follows:

	Three months ended June 30,							Six months ended June 30,
	2018				2017			2018				2017
Other production expenses	$	426			336			$	849			685
Administrative and general expense	902				723			1,797				1,464
Maintenance expense	279				229			557				465
Pension non-service costs	595				1,032			1,178				1,907
	$	2,202			2,320			$	4,381			4,521

The components of net periodic benefit costs for San Jose Water Company’s pension plan, its Executive Supplemental Retirement Plan, Cash Balance Executive Supplemental Retirement Plan and Social Welfare Plan for the three and six months ended June 30, 2018, and 2017 are as follows:

	Three months ended June 30,							Six months ended June 30,
	2018				2017			2018				2017
Service cost	$	1,607			1,288			$	3,203			2,614
Interest cost	1,876				1,920			3,753				3,823
Other cost	1,145				1,165			2,278				2,203
Expected return on assets	(2,426		)		(2,053	)		(4,853		)		(4,119	)
	$	2,202			2,320			$	4,381			4,521

Schedule of Allocation of Plan Assets

The following tables summarize the fair values of plan assets by major categories as of June 30, 2018, and December 31, 2017:

			Fair Value Measurements at June 30, 2018
							Quoted Prices in Active Markets for Identical Assets				Significant Observable Inputs				Significant Unobservable Inputs
Asset Category	Benchmark		Total				(Level 1)				(Level 2)				(Level 3)
Cash and cash equivalents	—		$	5,309			$	5,309			$	—			$	—
Actively Managed (a):
All Cap Equity	Russell 3000 Value		6,450				6,408				42				—
U.S. Large Cap Equity	Russell 1000, Russell 1000 Growth, Russell 1000 Value		52,125				52,125				—				—
U.S. Mid Cap Equity	Russell Mid Cap, Russell Mid Cap Growth, Russell Mid Cap Value		9,628				9,628				—				—
U.S. Small Cap Equity	Russell 2000, Russell 2000 Growth, Russell 2000 Value		9,805				9,805				—				—
Non-U.S. Large Cap Equity	MSCI EAFE		5,759				5,759				—				—
REIT	NAREIT - Equity REIT’S		6,276				—				6,276				—
Fixed Income (b)	(b)		45,153				—				45,153				—
Total			$	140,505			$	89,034			$	51,471			$	—

The Plan has a current target allocation of 55% invested in a diversified array of equity securities to provide long-term capital appreciation and 45% invested in a diversified array of fixed income securities and cash to provide preservation of capital plus generation of income.

(a) Actively managed portfolio of securities with the goal to exceed the stated benchmark performance.

(b) Actively managed portfolio of fixed income securities with the goal to exceed the Barclays 1-5 Year Government/Credit, Barclays Intermediate Government/Credit, and Merrill Lynch Preferred Stock Fixed Rate.

			Fair Value Measurements at December 31, 2017
							Quoted Prices in Active Markets for Identical Assets				Significant Observable Inputs				Significant Unobservable Inputs
Asset Category	Benchmark		Total				(Level 1)				(Level 2)				(Level 3)
Cash and cash equivalents	—		$	8,207			$	8,207			$	—			$	—
Actively Managed (a):
All Cap Equity	Russell 3000 Value		6,413				6,376				37				—
U.S. Large Cap Equity	Russell 1000, Russell 1000 Growth, Russell 1000 Value		50,351				50,351				—				—
U.S. Mid Cap Equity	Russell Mid Cap, Russell Mid Cap Growth, Russell Mid Cap Value		9,358				9,358				—				—
U.S. Small Cap Equity	Russell 2000, Russell 2000 Growth, Russell 2000 Value		8,725				8,725				—				—
Non-U.S. Large Cap Equity	MSCI EAFE		5,973				5,973				—				—
REIT	NAREIT - Equity REIT’S		6,143				—				6,143				—
Fixed Income (b)	(b)		44,994				—				44,994				—
Total			$	140,164			$	88,990			$	51,174			$	—

The Plan has a current target allocation of 55% invested in a diversified array of equity securities to provide long-term capital appreciation and 45% invested in a diversified array of fixed income securities and cash to provide preservation of capital plus generation of income.

(a) Actively managed portfolio of securities with the goal to exceed the stated benchmark performance.

(b) Actively managed portfolio of fixed income securities with the goal to exceed the Barclays 1-5 Year Government/Credit, Barclays Intermediate Government/Credit, and Merrill Lynch Preferred Stock Fixed Rate.

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- References

No definition available.

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- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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