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Segment and Nonregulated Business Reporting
9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
SEGMENT AND NONREGULATED BUSINESS REPORTING
Segment and Nonregulated Business Reporting
SJW Corp. is a holding company with four subsidiaries: (i) San Jose Water Company, a water utility which operates both regulated and nonregulated businesses, (ii) SJW Land Company and its consolidated variable interest entity, 444 West Santa Clara Street, L.P., which operate commercial building rentals, (iii) SJWTX, Inc. which is doing business as Canyon Lake Water Service Company (“CLWSC”), a regulated water utility located in Canyon Lake, Texas, and its consolidated nonregulated variable interest entity, Acequia Water Supply Corporation, and (iv) Texas Water Alliance Limited, a nonregulated water utility operation which is undertaking activities that are necessary to develop a water supply project in Texas. In accordance with FASB ASC Topic 280 – “Segment Reporting,” SJW Corp. has determined that it has two reportable business segments. The first segment is that of providing water utility and utility-related services to its customers through SJW Corp.'s subsidiaries, San Jose Water Company, Canyon Lake Water Service Company, and Texas Water Alliance Limited, together referred to as “Water Utility Services.” The second segment is property management and investment activity conducted by SJW Land Company, referred to as “Real Estate Services.”
SJW Corp.'s reportable segments have been determined based on information used by the chief operating decision maker. SJW Corp.'s chief operating decision maker is its Chairman, President and Chief Executive Officer (“CEO”). The CEO reviews financial information presented on a consolidated basis that is accompanied by disaggregated information about operating revenue, net income and total assets, by subsidiaries.
The tables below set forth information relating to SJW Corp.'s reportable segments and distribution of regulated and nonregulated business activities within the reportable segments. Certain allocated assets, revenue and expenses have been included in the reportable segment amounts. Other business activity of SJW Corp. not included in the reportable segments is included in the “All Other” category.
 
For Three Months Ended September 30, 2014
 
Water Utility Services
 
Real Estate Services
 
All Other*
 
SJW Corp.
 
Regulated
 
Non
regulated
 
Non
regulated
 
Non
regulated
 
Regulated
 
Non
regulated
 
Total
Operating revenue
$
121,921

 
1,739

 
1,770

 

 
121,921

 
3,509

 
125,430

Operating expense
63,518

 
1,508

 
1,041

 
249

 
63,518

 
2,798

 
66,316

Operating income (loss)
58,403

 
231

 
729

 
(249
)
 
58,403

 
711

 
59,114

Net income (loss)
37,907

 
68

 
795

 
(404
)
 
37,907

 
459

 
38,366

Depreciation and amortization
8,984

 
89

 
394

 

 
8,984

 
483

 
9,467

Senior note, mortgage and other interest expense
4,573

 

 
262

 
562

 
4,573

 
824

 
5,397

Income tax expense (benefit) in net income
16,394

 
73

 
(441
)
 
(295
)
 
16,394

 
(663
)
 
15,731

Assets
$
1,121,925

 
17,606

 
66,457

 
4,116

 
1,121,925

 
88,179

 
1,210,104

 
For Three Months Ended September 30, 2013
 
Water Utility Services
 
Real Estate Services
 
All Other*
 
SJW Corp.
 
Regulated
 
Non
regulated
 
Non
regulated
 
Non
regulated
 
Regulated
 
Non
regulated
 
Total
Operating revenue
$
81,894

 
1,859

 
1,485

 

 
81,894

 
3,344

 
85,238

Operating expense
63,260

 
1,538

 
820

 
274

 
63,260

 
2,632

 
65,892

Operating income (loss)
18,634

 
321

 
665

 
(274
)
 
18,634

 
712

 
19,346

Net income (loss)
9,114

 
109

 
132

 
(405
)
 
9,114

 
(164
)
 
8,950

Depreciation and amortization
8,293

 
90

 
404

 

 
8,293

 
494

 
8,787

Senior note, mortgage and other interest expense
4,197

 

 
268

 
544

 
4,197

 
812

 
5,009

Income tax expense (benefit) in net income
5,840

 
135

 
132

 
(304
)
 
5,840

 
(37
)
 
5,803

Assets
$
1,053,710

 
16,443

 
71,176

 
8,511

 
1,053,710

 
96,130

 
1,149,840

 
For Nine Months Ended September 30, 2014
 
Water Utility Services
 
Real Estate Services
 
All Other*
 
SJW Corp.
 
Regulated
 
Non
regulated
 
Non
regulated
 
Non
regulated
 
Regulated
 
Non
regulated
 
Total
Operating revenue
$
240,514

 
4,520

 
5,348

 

 
240,514

 
9,868

 
250,382

Operating expense
165,623

 
3,596

 
3,118

 
756

 
165,623

 
7,470

 
173,093

Operating income (loss)
74,891

 
924

 
2,230

 
(756
)
 
74,891

 
2,398

 
77,289

Net income (loss)
44,401

 
351

 
1,379

 
(13
)
 
44,401

 
1,717

 
46,118

Depreciation and amortization
26,950

 
269

 
1,228

 

 
26,950

 
1,497

 
28,447

Senior note, mortgage and other interest expense
12,793

 

 
761

 
1,667

 
12,793

 
2,428

 
15,221

Income tax expense (benefit) in net income
19,154

 
314

 
(15
)
 
(69
)
 
19,154

 
230

 
19,384

Assets
$
1,121,925

 
17,606

 
66,457

 
4,116

 
1,121,925

 
88,179

 
1,210,104

 
For Nine Months Ended September 30, 2013
 
Water Utility Services
 
Real Estate Services
 
All Other*
 
SJW Corp.
 
Regulated
 
Non
regulated
 
Non
regulated
 
Non
regulated
 
Regulated
 
Non
regulated
 
Total
Operating revenue
$
201,149

 
4,524

 
3,934

 

 
201,149

 
8,458

 
209,607

Operating expense
159,845

 
4,573

 
2,378

 
755

 
159,845

 
7,706

 
167,551

Operating income (loss)
41,304

 
(49
)
 
1,556

 
(755
)
 
41,304

 
752

 
42,056

Net income (loss)
18,400

 
(291
)
 
801

 
(1,203
)
 
18,400

 
(693
)
 
17,707

Depreciation and amortization
24,879

 
270

 
1,197

 

 
24,879

 
1,467

 
26,346

Senior note, mortgage and other interest expense
12,495

 

 
853

 
1,639

 
12,495

 
2,492

 
14,987

Income tax expense (benefit) in net income
12,141

 
48

 
639

 
(904
)
 
12,141

 
(217
)
 
11,924

Assets
$
1,053,710

 
16,443

 
71,176

 
8,511

 
1,053,710

 
96,130

 
1,149,840


 *    The “All Other” category includes the accounts of SJW Corp. on a stand-alone basis.