Business Segments

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Business Segments

Business Segments

AWR has three reportable segments: water, electric and contracted services. GSWC has one segment, water. On a stand-alone basis, AWR has no material assets or liabilities other than its equity investments in its subsidiaries, note payables to bank, deferred taxes and intercompany note receivables.  

All GSWC and BVES business activities are conducted in California. Activities of ASUS and the Military Utility Privatization Subsidiaries are conducted in California, Florida, Kansas, Maryland, New Mexico, North Carolina, South Carolina, Texas and Virginia. Some of ASUS’s wholly owned subsidiaries are regulated by the state in which the subsidiary primarily conducts water and/or wastewater operations. Fees charged for operations and maintenance and renewal and replacement services are based upon the terms of the contracts with the U.S. government, which have been filed, as appropriate, with the commissions in the states in which ASUS’s subsidiaries are incorporated.

The tables below set forth information relating to AWR’s operating segments and AWR Parent. The utility plant balances are net of respective accumulated provisions for depreciation. Capital additions reflect capital expenditures paid in cash and exclude U.S. government-funded and third-party prime funded capital expenditures for ASUS, and property installed by developers and conveyed to GSWC and BVES.

	As Of And For The Three Months Ended June 30, 2023
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	116,908	$	8,828	$	31,664	$	—	$	157,400
Operating income (loss)	50,524		2,103		6,354		(36)		58,945
Interest expense (income), net	6,515		654		327		1,429		8,925
Net property, plant and equipment	1,666,700		130,502		16,859		—		1,814,061
Depreciation and amortization expense (1)	8,674		759		825		—		10,258
Income tax expense (benefit)	11,934		247		1,506		(483)		13,204
Capital additions	34,567		4,386		359		—		39,312

	As Of And For The Three Months Ended June 30, 2022
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	90,856	$	8,217	$	23,534	$	—	$	122,607
Operating income (loss)	27,711		2,038		4,571		(3)		34,317
Interest expense (income), net	5,318		295		(102)		361		5,872
Net property, plant and equipment	1,553,389		111,394		18,704		—		1,683,487
Depreciation and amortization expense (1)	8,553		686		932		—		10,171
Income tax expense (benefit)	5,103		215		1,108		(221)		6,205
Capital additions	35,519		5,306		557		—		41,382

	As Of And For The Six Months Ended June 30, 2023
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	229,620	$	21,732	$	67,471	$	—	$	318,823
Operating income (loss)	90,763		5,734		13,650		(37)		110,110
Interest expense (income), net	12,009		1,227		554		2,752		16,542
Net property, plant and equipment	1,666,700		130,502		16,859		—		1,814,061
Depreciation and amortization expense (1)	18,280		1,507		1,674		—		21,461
Income tax expense (benefit)	20,844		948		3,191		(1,027)		23,956
Capital additions	76,572		11,038		1,039		—		88,649

	As Of And For The Six Months Ended June 30, 2022
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	164,762	$	20,109	$	46,306	$	—	$	231,177
Operating income (loss)	44,710		5,636		8,341		(5)		58,682
Interest expense (income), net	10,463		408		(237)		561		11,195
Net property, plant and equipment	1,553,389		111,394		18,704		—		1,683,487
Depreciation and amortization expense (1)	17,098		1,340		1,847		—		20,285
Income tax expense (benefit)	7,792		1,167		2,052		(345)		10,666
Capital additions	66,984		8,774		794		—		76,552

(1)      Depreciation computed on GSWC’s and BVES’s transportation equipment is recorded in other operation expenses and totaled $155,000 and $95,000 for the three months ended June 30, 2023 and 2022, respectively, and totaled $523,000 and $189,000 for the six months ended June 30, 2023 and 2022, respectively. For the six months ended June 30, 2023, approximately $212,000 of additional depreciation expense on GSWC's transportation equipment was recorded that relates to the cumulative retroactive impact for the full year of 2022 approved in the CPUC final decision in GSWC's general rate case that resulted from an increase to the transportation equipment composite depreciation rates that are retroactive to January 1, 2022.

The following table reconciles total net property, plant and equipment (a key figure for ratemaking) to total consolidated assets (in thousands):

	June 30,
	2023		2022
Total net property, plant and equipment	$	1,814,061	$	1,683,487
Other assets	325,574		266,159
Total consolidated assets	$	2,139,635	$	1,949,646