LONG-TERM DEBT

12 Months Ended

Dec. 31, 2020

Long-term Debt, Unclassified [Abstract]

LONG-TERM DEBT

As of December 31, 2020 and 2019, long-term debt outstanding was:

	Series	Interest Rate		Maturity Date	2020		2019
First Mortgage Bonds	YYY	4.170	%	2059	$	200,000	$	200,000
	WWW	4.070	%	2049	100,000		100,000
	VVV	3.400	%	2029	100,000		100,000
	TTT	4.610	%	2056	10,000		10,000
	SSS	4.410	%	2046	40,000		40,000
	QQQ	3.330	%	2025	50,000		50,000
	RRR	4.310	%	2045	50,000		50,000
	PPP	5.500	%	2040	100,000		100,000
	AAA	7.280	%	2025	20,000		20,000
	BBB	6.770	%	2028	20,000		20,000
	CCC	8.150	%	2030	20,000		20,000
	DDD	7.130	%	2031	20,000		20,000
	EEE	7.110	%	2032	20,000		20,000
	GGG	5.290	%	2022	3,636		5,455
	HHH	5.290	%	2022	3,636		5,455
	III	5.540	%	2023	2,728		3,636
	OOO	6.020	%	2031	20,000		20,000
	CC	9.860	%	2020	—		16,700
Total First Mortgage Bonds					780,000		801,246
California Department of Water Resources Loans		3.0%		2027 - 2039	5,148		5,604
Other long-term debt					5,569		6,465
Unamortized debt issuance costs					(4,490)		(4,693)
Total long-term debt, net of unamortized debt issuance costs					786,227		808,622
Less current maturities of long-term debt, net					5,127		21,868
Long-term debt, net					$	781,100	$	786,754

On June 11, 2019, Cal Water completed the sale and issuance of $400.0 million in aggregate principal amount of First Mortgage Bonds (the bonds) in a private placement. The bonds consist of $100.0 million of 3.40% bonds, series VVV, maturing June 11, 2029; $100.0 million of 4.07% bonds, series WWW, maturing June 11, 2049; and $200.0 million of 4.17% bonds, series YYY, maturing June 11, 2059. Interest on the bonds will accrue semi-annually and be payable in arrears. The bonds will rank equally with all of Cal Water’s other First Mortgage Bonds and will be secured by liens on Cal Water’s properties, subject to certain exceptions and permitted liens. Cal Water used the net proceeds from the sale of the bonds to pay down outstanding short-term borrowings and to redeem $300.0 million of bond series UUU. The bonds were not registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

On October 4, 2011, Cal Water entered into a capital lease arrangement with the City of Hawthorne to operate the City's water system for a 15-year period. The $4.6 million and $5.2 million capital lease liability as of December 31, 2020 and 2019, respectively, is included in other long-term debt and current maturities set forth above.