Segment and Nonregulated Business Reporting

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

SEGMENT AND NONREGULATED BUSINESS REPORTING

Segment and Non-Tariffed Business Reporting

SJW Corp. is a holding company with five subsidiaries: (i) San Jose Water Company, a water utility which operates both regulated and non-tariffed 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 non-tariffed variable interest entity, Acequia Water Supply Corporation, (iv) Texas Water Alliance Limited, a non-tariffed water utility operation which has acquired permits and leases necessary to develop a water supply project in Texas, and (v) SJW Group, Inc., a Delaware corporation formed in March 2015 for the sole purpose of effectuating a change in the state of incorporation of SJW Corp. from California to Delaware. The CPUC and Public Utilities Commission of Texas (“PUCT”) issued a decision authorizing the reincorporation on May 26, 2016 and March 24, 2016, respectively. We intend to cause the reincorporation to become effective in the second half of 2016, subject to the completion of certain legal formalities, including obtaining required consents by certain third parties.

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 includes the Chairman, President and Chief Executive Officer, and his senior staff. The senior staff 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 non-tariffed 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 June 30, 2016
	Water Utility Services			Real Estate Services	All Other*		SJW Corp.
	Regulated		Non-tariffed	Non-tariffed	Non-tariffed		Regulated	Non-tariffed	Total
Operating revenue	$	83,746	1,542	1,656	—		83,746	3,198	86,944
Operating expense	54,667		1,038	1,021	418		54,667	2,477	57,144
Operating income (loss)	29,079		504	635	(418	)	29,079	721	29,800
Net income (loss)	15,023		214	178	1,360		15,023	1,752	16,775
Depreciation and amortization	10,676		118	393	—		10,676	511	11,187
Senior note, mortgage and other interest expense	4,655		—	240	574		4,655	814	5,469
Income tax expense (benefit) in net income	9,705		168	107	931		9,705	1,206	10,911
Assets	$	1,314,565	18,976	64,867	929		1,314,565	84,772	1,399,337

	For Three Months Ended June 30, 2015
	Water Utility Services			Real Estate Services	All Other*		SJW Corp.
	Regulated		Non-tariffed	Non-tariffed	Non-tariffed		Regulated	Non-tariffed		Total
Operating revenue	$	69,011	1,588	1,803	—		69,011	3,391		72,402
Operating expense	52,555		1,343	1,003	291		52,555	2,637		55,192
Operating income (loss)	16,456		245	800	(291	)	16,456	754		17,210
Net income (loss)	7,556		55	272	(422	)	7,556	(95	)	7,461
Depreciation and amortization	9,693		121	388	—		9,693	509		10,202
Senior note, mortgage and other interest expense	4,814		—	255	549		4,814	804		5,618
Income tax expense (benefit) in net income	4,457		93	163	(308	)	4,457	(52	)	4,405
Assets	$	1,205,819	18,611	67,066	4,361		1,205,819	90,038		1,295,857

	For Six Months Ended June 30, 2016
	Water Utility Services			Real Estate Services	All Other*		SJW Corp.
	Regulated		Non-tariffed	Non-tariffed	Non-tariffed		Regulated	Non-tariffed	Total
Operating revenue	$	141,887	2,746	3,423	—		141,887	6,169	148,056
Operating expense	102,788		1,920	2,053	914		102,788	4,887	107,675
Operating income (loss)	39,099		826	1,370	(914	)	39,099	1,282	40,381
Net income (loss)	18,594		319	431	809		18,594	1,559	20,153
Depreciation and amortization	21,349		234	787	—		21,349	1,021	22,370
Senior note, mortgage and other interest expense	9,281		—	490	1,133		9,281	1,623	10,904
Income tax expense (benefit) in net income	11,977		274	248	534		11,977	1,056	13,033
Assets	$	1,314,565	18,976	64,867	929		1,314,565	84,772	1,399,337

	For Six Months Ended June 30, 2015
	Water Utility Services			Real Estate Services	All Other*		SJW Corp.
	Regulated		Non-tariffed	Non-tariffed	Non-tariffed		Regulated	Non-tariffed		Total
Operating revenue	$	127,898	3,035	3,581	—		127,898	6,616		134,514
Operating expense	99,477		2,305	2,027	690		99,477	5,022		104,499
Operating income (loss)	28,421		730	1,554	(690	)	28,421	1,594		30,015
Net income (loss)	12,257		273	532	(906	)	12,257	(101	)	12,156
Depreciation and amortization	19,372		211	778	—		19,372	989		20,361
Senior note, mortgage and other interest expense	9,644		—	510	1,116		9,644	1,626		11,270
Income tax expense (benefit) in net income	7,275		275	308	(659	)	7,275	(76	)	7,199
Assets	$	1,205,819	18,611	67,066	4,361		1,205,819	90,038		1,295,857

 *    The “All Other” category includes the accounts of SJW Corp. on a stand-alone basis and SJW Group, Inc. For the three and six months ended June 30, 2016 and 2015, SJW Group, Inc. had no revenue or expenses recorded and held no assets as of June 30, 2016.