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Defined Benefit Plan (Tables) | 6 Months Ended
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Jun. 30, 2019
Retirement Benefits [Abstract] |
Schedule of Net Benefit Costs | 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,
| 2019 |  | 2018 |  | 2019 |  | 2018
Other production expenses | $ | 370 |  |  | 426 |  |  | $ | 740 |  |  | 849 |
Administrative and general expense | 851 |  |  | 902 |  |  | 1,689 |  |  | 1,797 |
Maintenance expense | 271 |  |  | 279 |  |  | 542 |  |  | 557 |
Pension non-service costs | 907 |  |  | 595 |  |  | 1,828 |  |  | 1,178 |
| $ | 2,399 |  |  | 2,202 |  |  | $ | 4,799 |  |  | 4,381 |
The components of net periodic benefit costs for San Jose Water Company’s retirement 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, 2019, and 2018 are as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Service cost | $ | 1,479 |  |  | 1,607 |  |  | $ | 2,958 |  |  | 3,203 |
Interest cost | 2,113 |  |  | 1,876 |  |  | 4,225 |  |  | 3,753 |
Other cost | 1,117 |  |  | 1,145 |  |  | 2,235 |  |  | 2,278 |
Expected return on assets | (2,310 | ) |  | (2,426 | ) |  | (4,619 | ) |  | (4,853 | )
| $ | 2,399 |  |  | 2,202 |  |  | $ | 4,799 |  |  | 4,381 |
Schedule of Allocation of Plan Assets | The following tables summarize the fair values of plan assets by major categories as of June 30, 2019, and December 31, 2018:
|  |  | Fair Value Measurements at June 30, 2019
|  |  |  |  | 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 | — |  | $ | 7,723 |  |  | $ | 7,723 |  |  | $ | — |  |  | $ | — |
Actively Managed (a): |  |  |  |  |  |  |  |  |
All Cap Equity | Russell 3000 Value |  | 6,461 |  |  | 6,426 |  |  | 35 |  |  | — |
U.S. Large Cap Equity | Russell 1000, Russell 1000 Growth, Russell 1000 Value |  | 57,375 |  |  | 57,375 |  |  | — |  |  | — |
U.S. Mid Cap Equity | Russell Mid Cap, Russell Mid Cap Growth, Russell Mid Cap Value |  | 10,202 |  |  | 10,202 |  |  | — |  |  | — |
U.S. Small Cap Equity | Russell 2000, Russell 2000 Growth, Russell 2000 Value |  | 10,385 |  |  | 10,385 |  |  | — |  |  | — |
Non-U.S. Large Cap Equity | MSCI EAFE |  | 5,767 |  |  | 5,767 |  |  | — |  |  | — |
REIT | NAREIT - Equity REIT’S |  | 7,137 |  |  | — |  |  | 7,137 |  |  | — |
Fixed Income (b) | (b) |  | 47,489 |  |  | — |  |  | 47,489 |  |  | — |
Total |  |  | $ | 152,539 |  |  | $ | 97,878 |  |  | $ | 54,661 |  |  | $ | — |
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, 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 | — |  | $ | 8,136 |  |  | $ | 8,136 |  |  | $ | — |  |  | $ | — |
Actively Managed (a): |  |  |  |  |  |  |  |  |
All Cap Equity | Russell 3000 Value |  | 5,670 |  |  | 5,632 |  |  | 38 |  |  | — |
U.S. Large Cap Equity | Russell 1000, Russell 1000 Growth, Russell 1000 Value |  | 47,040 |  |  | 47,040 |  |  | — |  |  | — |
U.S. Mid Cap Equity | Russell Mid Cap, Russell Mid Cap Growth, Russell Mid Cap Value |  | 8,372 |  |  | 8,372 |  |  | — |  |  | — |
U.S. Small Cap Equity | Russell 2000, Russell 2000 Growth, Russell 2000 Value |  | 8,528 |  |  | 8,528 |  |  | — |  |  | — |
Non-U.S. Large Cap Equity | MSCI EAFE |  | 4,969 |  |  | 4,969 |  |  | — |  |  | — |
REIT | NAREIT - Equity REIT’S |  | 5,889 |  |  | — |  |  | 5,889 |  |  | — |
Fixed Income (b) | (b) |  | 44,855 |  |  | — |  |  | 44,855 |  |  | — |
Total |  |  | $ | 133,459 |  |  | $ | 82,677 |  |  | $ | 50,782 |  |  | $ | — |
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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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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