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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Utility plant:    
Land $ 44,657 $ 41,415
Depreciable plant and equipment 4,249,314 3,967,911
Construction work in progress 179,486 106,980
Intangible assets 51,604 35,946
Total utility plant 4,525,061 4,152,252
Less accumulated depreciation and amortization 1,036,450 981,598
Net utility plant 3,488,611 3,170,654
Nonutility properties and real estate investments 1,314 13,350
Less accumulated depreciation and amortization 98 194
Net nonutility properties and real estate investments 1,216 13,156
Current assets:    
Cash and cash equivalents 11,114 9,723
Accounts receivable:    
Customers, net of allowances for uncollectible accounts of $1,172 and $6,551 in 2024 and 2023, respectively 68,679 67,870
Income tax 5,953 5,187
Other 7,059 3,684
Accrued unbilled revenue 60,847 49,543
Assets held for sale 0 40,850
Prepaid expenses 10,297 11,110
Current regulatory assets 18,172 4,276
Other current assets 8,593 6,146
Total current assets 190,714 198,389
Other assets:    
Regulatory assets, less current portion 224,055 235,910
Investments 18,087 16,411
Postretirement benefit plans 66,422 33,794
Other intangible asset 0 28,386
Goodwill 640,311 640,311
Other 28,893 8,056
Total other assets 977,768 962,868
Total assets 4,658,309 4,345,067
Stockholders’ equity:    
Common stock, $0.001 par value; authorized 70,000,000 shares in 2024 and 2023; issued and outstanding 33,629,169 shares in 2024 and 32,023,004 shares in 2023 34 32
Additional paid-in capital 827,796 736,191
Retained earnings 537,184 495,383
Accumulated other comprehensive income 1,960 1,791
Total stockholders’ equity 1,366,974 1,233,397
Long-term debt, less current portion 1,706,904 1,526,699
Total capitalization 3,073,878 2,760,096
Current liabilities:    
Lines of credit 119,124 171,500
Current portion of long-term debt 3,648 48,975
Accrued groundwater extraction charges, purchased water and power 25,118 24,479
Accounts payable 56,256 46,121
Accrued interest 17,476 15,816
Accrued payroll 15,193 12,229
Current regulatory liabilities 1,122 3,059
Other current liabilities 23,236 20,795
Total current liabilities 261,173 342,974
Deferred income taxes 276,043 238,528
Advances for construction 155,397 146,582
Contributions in aid of construction 340,738 326,451
Postretirement benefit plans 45,063 46,836
Regulatory liabilities, less current portion 483,719 461,108
Other noncurrent liabilities 22,298 22,492
Commitments and contingencies
Total capitalization and liabilities $ 4,658,309 $ 4,345,067