Goodwill

9 Months Ended

Sep. 30, 2023

Goodwill [Abstract]

Goodwill

Note 5 – Goodwill 

The following table summarizes the changes in the Company’s goodwill, by business segment:

	Regulated Water		Regulated Natural Gas		Other		Consolidated
Balance at December 31, 2022	$	58,504	$	2,277,447	$	4,841	$	2,340,792
Reclassification to utility plant acquisition adjustment		(131)		-		-		(131)
Balance at September 30, 2023	$	58,373	$	2,277,447	$	4,841	$	2,340,661

The reclassification of goodwill to utility plant acquisition adjustment results from a mechanism approved by the applicable utility commission. The mechanism provides for the transfer over time, and the recovery through customer rates, of goodwill associated with some acquisitions upon achieving specific objectives.

According to our normal schedule, we will be performing our annual goodwill impairment test during the fourth quarter for our Regulated Water, Regulated Natural Gas, and Other reporting units.