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Segment and Non-Tariffed Business Reporting | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment and Non-Tariffed Business Reporting | Segment and Non-Tariffed Business Reporting SJW Group is a holding company with five subsidiaries: (i) SJWC, (ii) SJWTX Holdings, Inc., a holding company for TWC, its consolidated variable interest entity, Acequia Water Supply Corporation, TWOS and TWR, (iii) SJW Land Company, (iv) SJWNE LLC, a holding company for CTWS and its subsidiaries, CWC, MWC, NEWUS and Chester Realty, Inc., and (v) National Water Utility. The first segment provides water utility and utility-related services to its customers through SJW Group’s subsidiaries, SJWC, CWC, TWC, MWC, NEWUS, and National Water Utility together referred to as “Water Utility Services.” Water Utility Services’ activities are water utility operations with both regulated and non-tariffed businesses. The second segment consists of property management and investment activity conducted by SJW Land Company and Chester Realty, Inc., referred to as “Real Estate Services.” SJW Group’s reportable segments have been determined based on information used by the chief operating decision maker. SJW Group’s chief operating decision maker includes the Chairman, President and Chief Executive Officer, and his executive staff. The executive staff reviews financial information presented on a consolidated basis that is accompanied by disaggregated information about operating revenue, net income and total assets, by subsidiary. The following tables set forth information relating to SJW Group’s reportable segments and distribution of regulated and non-tariffed business activities within the reportable segments. Certain allocated assets, such as goodwill, revenue and expenses have been included in the reportable segment amounts. Other business activity of SJW Group not included in the reportable segments is included in the “All Other” category.
| For Three Months Ended September 30, 2024
| Water Utility Services (1) |  | Real Estate Services |  | All Other (2) |  | SJW Group
| Regulated |  | Non-tariffed |  | Non-tariffed |  | Non-tariffed |  | Regulated |  | Non-tariffed |  | Total
Operating revenue | $ | 220,938 |  |  | 4,103 |  |  | 22 |  |  | — |  |  | 220,938 |  |  | 4,125 |  |  | 225,063 |
Operating expense | 161,929 |  |  | 2,799 |  |  | 205 |  |  | 1,777 |  |  | 161,929 |  |  | 4,781 |  |  | 166,710 |
Operating income (loss) | 59,009 |  |  | 1,304 |  |  | (183) |  |  | (1,777) |  |  | 59,009 |  |  | (656) |  |  | 58,353 |
Net income (loss) | 43,751 |  |  | 915 |  |  | 34 |  |  | (6,048) |  |  | 43,751 |  |  | (5,099) |  |  | 38,652 |
Depreciation and amortization | 27,113 |  |  | 85 |  |  | 1 |  |  | 224 |  |  | 27,113 |  |  | 310 |  |  | 27,423 |
Interest on long-term debt and other interest expense | 11,516 |  |  | 75 |  |  | — |  |  | 5,925 |  |  | 11,516 |  |  | 6,000 |  |  | 17,516 |
Provision (benefit) for income taxes | 1,182 |  |  | 389 |  |  | 15 |  |  | 342 |  |  | 1,182 |  |  | 746 |  |  | 1,928 |
| For Three Months Ended September 30, 2023
| Water Utility Services (1) |  | Real Estate Services |  | All Other (2) |  | SJW Group
| Regulated |  | Non-tariffed |  | Non-tariffed |  | Non-tariffed |  | Regulated |  | Non-tariffed |  | Total
Operating revenue | $ | 199,537 |  |  | 3,876 |  |  | 1,430 |  |  | — |  |  | 199,537 |  |  | 5,306 |  |  | 204,843 |
Operating expense | 144,102 |  |  | 2,337 |  |  | 691 |  |  | 1,107 |  |  | 144,102 |  |  | 4,135 |  |  | 148,237 |
Operating income (loss) | 55,435 |  |  | 1,539 |  |  | 739 |  |  | (1,107) |  |  | 55,435 |  |  | 1,171 |  |  | 56,606 |
Net income (loss) | 37,545 |  |  | 2,198 |  |  | 563 |  |  | (4,084) |  |  | 37,545 |  |  | (1,323) |  |  | 36,222 |
Depreciation and amortization | 26,147 |  |  | 84 |  |  | 1 |  |  | 223 |  |  | 26,147 |  |  | 308 |  |  | 26,455 |
Interest on long-term debt and other interest expense | 10,839 |  |  | 112 |  |  | — |  |  | 5,793 |  |  | 10,839 |  |  | 5,905 |  |  | 16,744 |
Provision (benefit) for income taxes | 5,933 |  |  | 428 |  |  | 196 |  |  | (1,996) |  |  | 5,933 |  |  | (1,372) |  |  | 4,561 |
| For Nine Months Ended September 30, 2024
| Water Utility Services (1) |  | Real Estate Services |  | All Other (2) |  | SJW Group
| Regulated |  | Non-tariffed |  | Non-tariffed |  | Non-tariffed |  | Regulated |  | Non-tariffed |  | Total
Operating revenue | $ | 537,899 |  |  | 10,146 |  |  | 2,574 |  |  | — |  |  | 537,899 |  |  | 12,720 |  |  | 550,619 |
Operating expense | 411,959 |  |  | 6,788 |  |  | 1,391 |  |  | 3,645 |  |  | 411,959 |  |  | 11,824 |  |  | 423,783 |
Operating income (loss) | 125,940 |  |  | 3,358 |  |  | 1,183 |  |  | (3,645) |  |  | 125,940 |  |  | 896 |  |  | 126,836 |
Net income (loss) | 82,307 |  |  | 2,145 |  |  | 617 |  |  | (14,022) |  |  | 82,307 |  |  | (11,260) |  |  | 71,047 |
Depreciation and amortization | 83,231 |  |  | 255 |  |  | 3 |  |  | 670 |  |  | 83,231 |  |  | 928 |  |  | 84,159 |
Interest on long-term debt and other interest expense | 35,095 |  |  | 520 |  |  | — |  |  | 17,779 |  |  | 35,095 |  |  | 18,299 |  |  | 53,394 |
Provision (benefit) for income taxes | 10,203 |  |  | 1,008 |  |  | 213 |  |  | (3,541) |  |  | 10,203 |  |  | (2,320) |  |  | 7,883 |
| For Nine Months Ended September 30, 2023
| Water Utility Services (1) |  | Real Estate Services |  | All Other (2) |  | SJW Group
| Regulated |  | Non-tariffed |  | Non-tariffed |  | Non-tariffed |  | Regulated |  | Non-tariffed |  | Total
Operating revenue | $ | 485,334 |  |  | 9,398 |  |  | 4,293 |  |  | — |  |  | 485,334 |  |  | 13,691 |  |  | 499,025 |
Operating expense | 375,647 |  |  | 5,540 |  |  | 2,251 |  |  | 2,645 |  |  | 375,647 |  |  | 10,436 |  |  | 386,083 |
Operating income (loss) | 109,687 |  |  | 3,858 |  |  | 2,042 |  |  | (2,645) |  |  | 109,687 |  |  | 3,255 |  |  | 112,942 |
Net income (loss) | 71,277 |  |  | 3,412 |  |  | 1,532 |  |  | (10,183) |  |  | 71,277 |  |  | (5,239) |  |  | 66,038 |
Depreciation and amortization | 77,644 |  |  | 253 |  |  | 305 |  |  | 670 |  |  | 77,644 |  |  | 1,228 |  |  | 78,872 |
Interest on long-term debt and other interest expense | 32,232 |  |  | 112 |  |  | — |  |  | 16,569 |  |  | 32,232 |  |  | 16,681 |  |  | 48,913 |
Provision (benefit) for income taxes | 8,759 |  |  | 1,071 |  |  | 581 |  |  | (6,284) |  |  | 8,759 |  |  | (4,632) |  |  | 4,127 |
____________________ (1) The “Water Utility Services” category for the three and nine months ended September 30, 2024 and 2023, includes the accounts of SJWC, CWC, TWC, MWC, and NEWUS on a stand-alone basis. (2) The “All Other” category for the three and nine months ended September 30, 2024 and 2023, includes the accounts of SJW Group, SJWNE LLC, CTWS and SJWTX Holdings, Inc. on a stand-alone basis. SJW Group’s assets by segment are as follows:
| September 30, 2024 |  | December 31, 2023
Water Utility Services: |  |  |
Regulated | $ | 4,496,972 |  |  | 4,199,172 |
Non-tariffed | 1,424 |  |  | 43,532 |
Total water utility services | 4,498,396 |  |  | 4,242,704 |
Real Estate Services | 849 |  |  | 44,222 |
All Other | 53,057 |  |  | 58,141 |
Total assets | $ | 4,552,302 |  |  | 4,345,067 |
Regulated | $ | 4,496,972 |  |  | 4,199,172 |
Non-tariffed | 55,330 |  |  | 145,895 |
Total assets | $ | 4,552,302 |  |  | 4,345,067 |

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- Definition The entire disclosure for reporting segments including data and tables. 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