Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Segment Reporting Information, by Segment

The following tables set forth information relating to H2O America's reportable segment and other business activities:


	For the three months ended September 30, 2025
	Reportable Segment
	Water Utility Services		Other Services (1)	Unallocated Corporate (2)	Consolidated
Operating revenue	$	236,222	4,328	—	240,550

Less:
Production expenses	96,411		1,909	—	98,320
Administrative and general	30,599		251	456	31,306
Maintenance	7,100		916	—	8,016
Property taxes and other non-income taxes	9,563		21	(68)	9,516
Depreciation and amortization	28,505		30	230	28,765
Interest on long-term debt and other interest expense	12,600		—	5,298	17,898

Provision (benefit) for income taxes	5,743		591	(543)	5,791
Other (3)	(1,435)		(370)	(2,389)	(4,194)
Net income (loss)	$	47,136	980	(2,984)	45,132

Capital expenditures	$	153,212	—	—	153,212


	For the three months ended September 30, 2024
	Reportable Segment
	Water Utility Services		Other Services (1)	Unallocated Corporate (2)	Consolidated
Operating revenue	$	220,938	4,125	—	225,063

Less:
Production expenses	93,788		1,918	—	95,706
Administrative and general	23,706		483	1,519	25,708
Maintenance	8,103		409	—	8,512
Property taxes and other non-income taxes	9,220		107	34	9,361
Depreciation and amortization	27,112		87	224	27,423
Interest on long-term debt and other interest expense	11,516		75	5,925	17,516

Provision for income taxes	1,182		404	342	1,928
Other (3)	2,493		(240)	(1,996)	257
Net income (loss)	$	43,818	882	(6,048)	38,652

Capital expenditures	$	100,885	—	—	100,885


	For the nine months ended September 30, 2025
	Reportable Segment
	Water Utility Services		Other Services (1)	Unallocated Corporate (2)	Consolidated
Operating revenue	$	596,052	10,352	—	606,404

Less:
Production expenses	233,720		4,436	—	238,156
Administrative and general	82,317		1,063	4,481	87,861
Maintenance	20,848		2,137	—	22,985
Property taxes and other non-income taxes	27,278		(29)	(32)	27,217
Depreciation and amortization	85,022		91	684	85,797
Interest on long-term debt and other interest expense	38,358		—	15,934	54,292
Provision (benefit) for income taxes	17,755		1,100	(4,923)	13,932
Other (3)	(4,305)		(507)	(5,382)	(10,194)
Net income (loss)	$	95,059	2,061	(10,762)	86,358

Capital expenditures	$	369,615	—	—	369,615


	For the nine months ended September 30, 2024
	Reportable Segment
	Water Utility Services		Other Services (1)	Unallocated Corporate (2)	Consolidated
Operating revenue	$	537,899	12,720	—	550,619

Less:
Production expenses	214,001		3,969	—	217,970
Administrative and general	66,848		2,113	3,003	71,964
Maintenance	21,607		1,473	—	23,080
Property taxes and other non-income taxes	26,273		365	(28)	26,610
Depreciation and amortization	83,230		259	670	84,159
Interest on long-term debt and other interest expense	35,095		520	17,779	53,394
Provision (benefit) for income taxes	10,203		1,221	(3,541)	7,883
Other (3)	(1,962)		335	(3,861)	(5,488)
Net income (loss)	$	82,604	2,465	(14,022)	71,047

Capital expenditures	$	271,032	—	—	271,032

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(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:


	September 30, 2025		December 31, 2024
Water Utility Services (reportable segment)	$	4,930,531	4,567,182
Other Services	23,209		25,053
Unallocated Corporate	56,914		66,074
Total assets	$	5,010,654	4,658,309