XML 21 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Comprehensive Income - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Operating revenue $ 620,698,000 $ 573,686,000 $ 564,526,000
Production Expenses:      
Purchased water 122,334,000 98,231,000 100,723,000
Power 8,889,000 13,511,000 13,330,000
Groundwater extraction charges 56,158,000 75,866,000 71,359,000
Other production expenses 45,409,000 41,475,000 40,380,000
Total production expenses 232,790,000 229,083,000 225,792,000
Administrative and general 95,404,000 87,332,000 79,741,000
Maintenance 30,734,000 26,031,000 22,158,000
Property taxes and other non-income taxes 32,572,000 30,964,000 29,886,000
Depreciation and amortization 104,417,000 94,400,000 89,279,000
Gain on sale of nonutility properties (6,197,000) (7,494,000) 0
Impairment of long-lived asset 0 2,211,000 0
Total operating expense 489,720,000 462,527,000 446,856,000
Operating income 130,978,000 111,159,000 117,670,000
Other (expense) income:      
Interest on long-term debt, mortgage and other interest expense (58,062,000) (54,339,000) (54,255,000)
Pension non-service cost 5,023,000 1,330,000 (374,000)
Gain on sale of Texas Water Alliance (“TWA”) 0 3,000,000 0
Gain on sale of real estate investments 0 927,000 948,000
Other, net 4,385,000 6,770,000 5,906,000
Income before income taxes 82,324,000 68,847,000 69,895,000
Provision for income taxes 8,496,000 8,369,000 8,380,000
Net income 73,828,000 60,478,000 61,515,000
Other comprehensive income:      
Unrealized (loss) gain on investment, net of taxes of $(188) in 2022, $68 in 2021 and $(247) in 2020 (511,000) 185,000 (310,000)
Adjustment to pension benefit plans, net of taxes of $793 in 2022, $264 in 2021 and $(324) in 2020 2,151,000 716,000 (880,000)
Comprehensive income $ 75,468,000 $ 61,379,000 $ 60,325,000
Earnings per share      
—Basic (in dollars per share) $ 2.44 $ 2.04 $ 2.16
—Diluted (in dollars per share) $ 2.43 $ 2.03 $ 2.14
Weighted average shares outstanding      
—Basic (shares) 30,304,557 29,601,284 28,521,900
—Diluted (shares) 30,423,735 29,735,533 28,694,986