Business Segments

9 Months Ended

Sep. 30, 2022

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 its subsidiaries and deferred taxes.  

All of GSWC’s and BVESI’s business activities are conducted in California. Activities of ASUS and its subsidiaries are conducted in California, Florida, Georgia, 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 amounts are net of respective accumulated provisions for depreciation. Capital additions reflect capital expenditures paid in cash, excluding property installed by developers and conveyed to GSWC or BVESI, and U.S. government- and third-party contractor-funded capital expenditures for ASUS.

	As Of And For The Three Months Ended September 30, 2022
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	100,799	$	8,919	$	25,266	$	—	$	134,984
Operating income (loss)	32,451		2,337		5,553		(1)		40,340
Interest expense (income), net	5,625		355		(27)		711		6,664
Net property, plant and equipment	1,584,888		115,379		17,885		—		1,718,152
Depreciation and amortization expense (1)	8,475		709		933		—		10,117
Income tax expense (benefit)	6,831		478		1,347		(296)		8,360
Capital additions	40,684		4,711		109		—		45,504

	As Of And For The Three Months Ended September 30, 2021
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	102,768	$	8,564	$	25,423	$	—	$	136,755
Operating income (loss)	35,459		2,053		5,273		(1)		42,784
Interest expense (income), net	5,098		101		(141)		162		5,220
Net property, plant and equipment	1,471,740		101,952		20,854		—		1,594,546
Depreciation and amortization expense (1)	8,272		644		910		—		9,826
Income tax expense	7,993		537		1,265		83		9,878
Capital additions	26,490		3,941		143		—		30,574

	As Of And For The Nine Months Ended September 30, 2022
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	265,561	$	29,028	$	71,572	$	—	$	366,161
Operating income (loss)	77,161		7,973		13,894		(6)		99,022
Interest expense (income), net	16,088		763		(264)		1,272		17,859
Net property, plant and equipment	1,584,888		115,379		17,885		—		1,718,152
Depreciation and amortization expense (1)	25,573		2,049		2,780		—		30,402
Income tax expense (benefit)	14,623		1,645		3,399		(641)		19,026
Capital additions	107,668		13,485		903		—		122,056

	As Of And For The Nine Months Ended September 30, 2021
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	269,430	$	28,211	$	84,588	$	—	$	382,229
Operating income (loss)	87,295		7,296		16,375		(6)		110,960
Interest expense (income), net	16,273		275		(458)		617		16,707
Net property, plant and equipment	1,471,740		101,952		20,854		—		1,594,546
Depreciation and amortization expense (1)	24,547		1,925		2,684		—		29,156
Income tax expense (benefit)	17,718		1,879		3,927		(270)		23,254
Capital additions	90,299		15,139		1,283		—		106,721

(1)      Depreciation computed on GSWC’s and BVESI’s transportation equipment is recorded in other operating expenses and totaled $97,000 and $94,000 for the three months ended September 30, 2022 and 2021, respectively, and totaled $286,000 and $283,000 for the nine months ended September 30, 2022 and 2021, respectively.

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

	September 30,
	2022		2021
Total net property, plant and equipment	$	1,718,152	$	1,594,546
Other assets	264,423		280,254
Total consolidated assets	$	1,982,575	$	1,874,800