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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Revenues      
Water $ 340,602 $ 347,112 $ 330,637
Electric 39,986 38,345 37,024
Contracted services 110,940 113,396 120,582
Total operating revenues 491,528 498,853 488,243
Operating Expenses      
Water purchased 75,939 77,914 74,554
Power purchased for pumping 11,861 11,103 10,134
Groundwater production assessment 19,071 19,412 20,392
Power purchased for resale 15,039 11,240 10,423
Supply cost balancing accounts (12,000) (11,421) (11,803)
Other operation 38,095 34,738 33,236
Administrative and general 86,190 83,547 83,615
Depreciation and amortization 41,315 39,596 36,850
Maintenance 13,392 12,781 15,702
Property and other taxes 22,894 22,522 22,199
ASUS construction 53,171 56,909 62,411
(Gain) loss on sale of assets (75) (465) 31
Total operating expenses 364,892 357,876 357,744
Operating Income 126,636 140,977 130,499
Other Income and Expenses      
Interest expense (27,027) (22,834) (22,531)
Interest income 2,326 1,493 1,801
Other, net 125 5,134 4,853
Total other income and expenses (24,576) (16,207) (15,877)
Income before income tax expense 102,060 124,770 114,622
Income tax expense 23,664 30,423 28,197
Net Income $ 78,396 $ 94,347 $ 86,425
Basic Earnings Per Common Share      
Weighted Average Number of Shares Outstanding (in shares) 36,955 36,921 36,880
Earnings Per Share, Basic $ 2.12 $ 2.55 $ 2.34
Fully Diluted Earnings Per Share      
Weighted Average Number of Diluted Shares (in shares) 37,039 37,010 36,995
Earnings Per Share, Diluted $ 2.11 $ 2.55 $ 2.33
Dividends Paid Per Common Share $ 1.525 $ 1.40 $ 1.28
GSWC      
Operating Revenues      
Water $ 340,602 $ 347,112 $ 330,637
Electric 0 0 18,647
Total operating revenues 340,602 347,112 349,284
Operating Expenses      
Water purchased 75,939 77,914 74,554
Power purchased for pumping 11,861 11,103 10,134
Groundwater production assessment 19,071 19,412 20,392
Power purchased for resale 0 0 5,010
Supply cost balancing accounts (8,643) (11,295) (11,749)
Other operation 28,117 25,781 25,194
Administrative and general 58,358 55,552 59,385
Depreciation and amortization 34,805 33,384 32,184
Maintenance 9,559 9,056 12,424
Property and other taxes 19,080 19,041 18,860
(Gain) loss on sale of assets 0 (409) 0
Total operating expenses 248,147 239,539 246,388
Operating Income 92,455 107,573 102,896
Other Income and Expenses      
Interest expense (22,742) (21,474) (21,495)
Interest income 1,083 428 718
Other, net (680) 4,783 4,556
Total other income and expenses (22,339) (16,263) (16,221)
Income before income tax expense 70,116 91,310 86,675
Income tax expense 16,346 22,095 21,704
Net Income $ 53,770 $ 69,215 $ 64,971