INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit)

Income tax expense (benefit) consisted of the following:

	Federal		State		Total
2023
Current	$	—	$	3	$	3
Deferred	508		(7,292)		(6,784)
Total income tax	$	508	$	(7,289)	$	(6,781)
2022
Current	$	1,857	$	3	$	1,860
Deferred	4,726		(211)		4,515
Total income tax	$	6,583	$	(208)	$	6,375
2021
Current	$	—	$	3,446	$	3,446
Deferred	3,322		(2,676)		646
Total income tax	$	3,322	$	770	$	4,092

Schedule of difference between the total income tax expense and computed tax expense

The difference between the recorded and the statutory income tax expense is reconciled in the table below:

	2023		2022		2021
Statutory income tax	$	9,365	$	21,344	$	22,065
Increase (reduction) in taxes due to:
State income taxes net of federal tax benefit	3,718		7,383		7,334
Effect of regulatory treatment of fixed asset differences	(9,478)		(6,274)		(6,327)
Investment tax credits	(74)		(74)		(74)
AFUDC equity	(1,553)		(1,155)		(891)
Stock based stock compensation	677		455		791
TCJA refund	(11,618)		(13,919)		(19,417)
Other	2,182		(1,385)		611
Total income tax	$	(6,781)	$	6,375	$	4,092

Schedule of tax effects of differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities

The deferred tax assets and deferred tax liabilities as of December 31, 2023 and 2022, are presented in the following table:

	2023		2022
Deferred tax assets:
Developer deposits for contributions in aid of construction	$	33,244	$	31,589
Net operating loss carry-forward and tax credits	29,406		18,329
Pension liability	16,896		13,860
Income tax regulatory liability	18,364		22,838
Operating leases liabilities	3,796		4,170
Other	3,614		4,264
Total deferred tax assets	105,320		95,050
Deferred tax liabilities:
Property related basis and depreciation differences	437,224		393,007
WRAM/MCBA and interim rates balancing accounts	4,875		14,192
Operating lease-right to use asset	3,746		4,130
Other	12,237		13,972
Total deferred tax liabilities	458,082		425,301
Net deferred tax liabilities	$	352,762	$	330,251

Schedule of reconciliation of changes in unrecognized tax benefits

The following table reconciles the changes in unrecognized tax benefits for the periods ended December 31, 2023, 2022, and 2021:

	2023		2022		2021
Balance at beginning of year	$	13,606	$	15,850	$	13,960
Additions for tax positions taken during current year	2,685		1,955		1,890
Lapse of statute of limitations	—		(4,199)		—
Balance at end of year	$	16,291	$	13,606	$	15,850