XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Reporting | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting H2O America’s single reportable segment provides water utility and utility-related services to its customers through H2O America’s subsidiaries, SJWC, CWC, TWC, MWC, and Acequia, which are aggregated and referred to as “Water Utility Services.” Water Utility Services’ activities are water utility operations with both regulated and non-tariffed businesses. Other business activities that do not comprise separately reportable segments primarily include SJWC’s City of Cupertino service concession arrangement operations, property management and investment activity conducted by SJW Land Company and Chester Realty, Inc., contract water and sewer operations and other water-related services provided by NEWUS and are referred to as “Other Services.” H2O America’s operating segments have been determined based on information used by the chief operating decision maker. H2O America’s chief operating decision maker (“CODM”) includes the Chairman, President, and Chief Executive Officer; the Chief Financial Officer and Treasurer; the Chief Operating Officer; the Senior Vice President and Chief Administrative Officer; and the Vice President and General Counsel. However, ultimate decision-making authority rests with the Chairman, President, and Chief Executive Officer. The CODM reviews financial information presented on a consolidated basis that is accompanied by certain disaggregated information about operating revenue, expenses, net income, and total assets. The CODM uses the net income to assess the financial performance of the segments and allocate resources (including employees, financial, or capital resources) in the budgeting and forecasting process. Certain allocated assets, such as goodwill, revenue and expenses have been included in the reportable segment amounts. Certain corporate costs and expenses are not allocated to Water Utility Services or Other Services and are shown separately to reconcile to the applicable consolidated amounts. As previously disclosed, H2O America updated its segment presentation in the fourth quarter of 2024. Accordingly, prior period information has been recast to conform with the current period presentation. The following tables set forth information relating to H2O America's reportable segment and other business activities:
| For the three months ended June 30, 2025
| Reportable Segment |  |  |  |  |  |
| Water Utility Services |  | Other Services (1) |  | Unallocated Corporate (2) |  | Consolidated
Operating revenue | $ | 194,674 |  |  | 3,581 |  |  | — |  |  | 198,255 |
Less: |  |  |  |  |  |  |
Production expenses | 79,324 |  |  | 1,545 |  |  | — |  |  | 80,869 |
Administrative and general | 24,967 |  |  | 252 |  |  | 3,576 |  |  | 28,795 |
Maintenance | 6,745 |  |  | 725 |  |  | — |  |  | 7,470 |
Property taxes and other non-income taxes | 8,506 |  |  | 9 |  |  | (9) |  |  | 8,506 |
Depreciation and amortization | 28,485 |  |  | 34 |  |  | 231 |  |  | 28,750 |
Interest on long-term debt and other interest expense | 12,719 |  |  | — |  |  | 5,403 |  |  | 18,122 |
Provision (benefit) for income taxes | 6,706 |  |  | 283 |  |  | (2,319) |  |  | 4,670 |
Other (3) | (1,748) |  |  | (38) |  |  | (1,816) |  |  | (3,602) |
Net income (loss) | $ | 28,970 |  |  | 771 |  |  | (5,066) |  |  | 24,675 |
Capital expenditures | $ | 132,058 |  |  | — |  |  | — |  |  | 132,058 |
| For the three months ended June 30, 2024
| Reportable Segment |  |  |  |  |  |
| Water Utility Services |  | Other Services (1) |  | Unallocated Corporate (2) |  | Consolidated
Operating revenue | $ | 172,046 |  |  | 4,128 |  |  | — |  |  | 176,174 |
Less: |  |  |  |  |  |  |
Production expenses | 69,176 |  |  | 1,293 |  |  | 1 |  |  | 70,470 |
Administrative and general | 19,292 |  |  | 820 |  |  | 356 |  |  | 20,468 |
Maintenance | 7,261 |  |  | 620 |  |  | — |  |  | 7,881 |
Property taxes and other non-income taxes | 8,463 |  |  | 20 |  |  | (64) |  |  | 8,419 |
Depreciation and amortization | 28,057 |  |  | 86 |  |  | 223 |  |  | 28,366 |
Interest on long-term debt and other interest expense | 12,037 |  |  | 224 |  |  | 6,033 |  |  | 18,294 |
Provision (benefit) for income taxes | 5,325 |  |  | 233 |  |  | (1,834) |  |  | 3,724 |
Other (3) | (1,570) |  |  | 583 |  |  | (1,157) |  |  | (2,144) |
Net income (loss) | $ | 24,005 |  |  | 249 |  |  | (3,558) |  |  | 20,696 |
Capital expenditures | $ | 96,636 |  |  | — |  |  | — |  |  | 96,636 |
| For the six months ended June 30, 2025
| Reportable Segment |  |  |  |  |  |
| Water Utility Services |  | Other Services (1) |  | Unallocated Corporate (2) |  | Consolidated
Operating revenue | $ | 359,830 |  |  | 6,024 |  |  | — |  |  | 365,854 |
Less: |  |  |  |  |  |  |
Production expenses | 137,309 |  |  | 2,527 |  |  | — |  |  | 139,836 |
Administrative and general | 51,718 |  |  | 812 |  |  | 4,025 |  |  | 56,555 |
Maintenance | 13,748 |  |  | 1,221 |  |  | — |  |  | 14,969 |
Property taxes and other non-income taxes | 17,715 |  |  | (50) |  |  | 36 |  |  | 17,701 |
Depreciation and amortization | 56,517 |  |  | 61 |  |  | 454 |  |  | 57,032 |
Interest on long-term debt and other interest expense | 25,758 |  |  | — |  |  | 10,636 |  |  | 36,394 |
Provision (benefit) for income taxes | 12,012 |  |  | 509 |  |  | (4,380) |  |  | 8,141 |
Other (3) | (2,870) |  |  | (137) |  |  | (2,993) |  |  | (6,000) |
Net income (loss) | $ | 47,923 |  |  | 1,081 |  |  | (7,778) |  |  | 41,226 |
Capital expenditures | $ | 216,403 |  |  | — |  |  | — |  |  | 216,403 |
| For the six months ended June 30, 2024
| Reportable Segment |  |  |  |  |  |
| Water Utility Services |  | Other Services (1) |  | Unallocated Corporate (2) |  | Consolidated
Operating revenue | $ | 316,961 |  |  | 8,595 |  |  | — |  |  | 325,556 |
Less: |  |  |  |  |  |  |
Production expenses | 120,213 |  |  | 2,051 |  |  | — |  |  | 122,264 |
Administrative and general | 43,142 |  |  | 1,630 |  |  | 1,484 |  |  | 46,256 |
Maintenance | 13,504 |  |  | 1,064 |  |  | — |  |  | 14,568 |
Property taxes and other non-income taxes | 17,053 |  |  | 258 |  |  | (62) |  |  | 17,249 |
Depreciation and amortization | 56,118 |  |  | 172 |  |  | 446 |  |  | 56,736 |
Interest on long-term debt and other interest expense | 23,579 |  |  | 445 |  |  | 11,854 |  |  | 35,878 |
Provision (benefit) for income taxes | 9,021 |  |  | 817 |  |  | (3,883) |  |  | 5,955 |
Other (3) | (4,455) |  |  | 575 |  |  | (1,865) |  |  | (5,745) |
Net income (loss) | $ | 38,786 |  |  | 1,583 |  |  | (7,974) |  |  | 32,395 |
Capital expenditures | $ | 170,147 |  |  | — |  |  | — |  |  | 170,147 |
___________________________________ (1) The “Other Services” category includes the accounts of SJW Land Co, Chester Reality, Inc., SJWC’s Cupertino service concession arrangement operations, TWOS, TWR, and NEWUS, on a stand-alone basis. (2) The “Unallocated Corporate” category includes the accounts of H2O America, SJWNE LLC, SJWTX Holdings, Inc., CTWS, NWU on a stand-alone basis. (3) Primarily comprised of pension non-service credit (cost) and items of miscellaneous non-operating income (expense). H2O America’s assets for the Water Utility Services reportable segment and all other are as follows as of:
| June 30, 2025 |  | December 31, 2024
Water Utility Services (reportable segment) | $ | 4,728,012 |  |  | 4,567,182 |
Other Services | 27,994 |  |  | 25,053 |
Unallocated Corporate | 90,920 |  |  | 66,074 |
Total assets | $ | 4,846,926 |  |  | 4,658,309 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration