XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.25.1

Revenue Recognition | 3 Months Ended
--- | ---
Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition Disaggregated Revenue For the three months ended March 31, 2025 and 2024, disaggregated revenue from contracts with customers by major source and customer class are as follows (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  | 2025 | 2024
Regulated revenue |  |  |  |  |
Water Service |  |  |  |  |
Residential |  |  |  | $ | 4,388 |  | $ | 4,162 |
Irrigation |  |  |  | 620 |  | 367 |
Commercial |  |  |  | 383 |  | 328 |
Multi-family |  |  |  | 81 |  | 57 |
Construction |  |  |  | 327 |  | 153 |
Other water revenue |  |  |  | 181 |  | 159 |
Total water revenue |  |  |  | 5,980 |  | 5,226 |
Wastewater and recycled water service |  |  |  |  |
Residential |  |  |  | 5,868 |  | 5,834 |
Commercial |  |  |  | 287 |  | 305 |
Multi-family |  |  |  | 49 |  | 39 |
Recycled water revenue |  |  |  | 193 |  | 121 |
Other wastewater revenue |  |  |  | 80 |  | 85 |
Total wastewater and recycled water revenue |  |  |  | 6,477 |  | 6,384 |
Total regulated revenue |  |  |  | 12,457 |  | 11,610 |
Total revenue |  |  |  | $ | 12,457 |  | $ | 11,610 |
Contract Balances The Company’s contract assets and liabilities consist of the following (in thousands):
| March 31, 2025 | December 31, 2024
Contract assets |  |
Accounts receivable, net | $ | 3,300 |  | $ | 3,233 |
Total contract assets | $ | 3,300 |  | $ | 3,233 |
Contract liabilities |  |
Deferred revenue - ICFA | $ | 21,559 |  | $ | 21,517 |
Total contract liabilities | $ | 21,559 |  | $ | 21,517 |
Accounts Receivable and Allowance for Credit Losses Accounts receivable as of March 31, 2025 and December 31, 2024 consist of the following (in thousands):
| March 31, 2025 | December 31, 2024
Billed receivables | $ | 3,495 |  | $ | 3,396 |
Less provision for credit losses | (195) |  | (163) |
Accounts receivable, net | $ | 3,300 |  | $ | 3,233 |
The following table summarizes the allowance for credit loss activity as of March 31, 2025 and December 31, 2024 (in thousands):
| March 31, 2025 | December 31, 2024
Beginning of Period | $ | (163) |  | $ | (122) |
Credit Loss Expense | (30) |  | (103) |
Write Offs | 1 |  | 90 |
Recoveries | (3) |  | (28) |
End of Period | $ | (195) |  | $ | (163) |
Remaining Performance Obligations Revenue allocated to remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Deferred revenue - ICFA is recognized as revenue once the obligations specified within the applicable ICFA are met, including construction of sufficient operating capacity to serve the customers for which revenue was deferred. Due to the uncertainty of future events, the Company is unable to estimate when to expect recognition of deferred revenue - ICFA.
| December 31, 2024 Balance | Payments Allocated to Deferred Revenue | Revenue Recognized | March 31, 2025 Balance
Deferred Revenue - ICFA | $ | 21,517 |  | $ | 42 |  | $ | — |  | $ | 21,559 |

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

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration