Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt as of December 31 was as follows:

Description	Rate	Maturity	2025		2024
H2O America Senior notes (a)	2.47% - 3.53%	2029 - 2039	$	560,000	560,000
SJWC:
Senior notes (a)	3.00% - 7.20%	2026 - 2055	560,000		505,000
California Pollution Control Financing Authority Revenue Bond	4.75%	2046	70,000		70,000
Total SJWC			630,000		575,000
CTWS bank term loans	4.09%, 4.15%	2027, 2037	12,212		14,389
CWC:
Connecticut Innovations Revenue Bonds, variable rate		2028 - 2029	22,050		22,050
Senior notes (a)	3.07% - 6.46%	2037 - 2055	330,000		270,000
State revolving fund loans	2.00%	2044	308		327
Bank term loans	4.04% - 4.75%	2028 - 2036	96,295		96,295
Total CWC			448,653		388,672
TWC:
Senior note (a)	6.27%	2036	15,000		15,000
Bank term loans	4.01% - 6.68%	2041 - 2055	105,000		65,000
Seller financing debt	(b)	2053	29,000		29,000
Total TWC			149,000		109,000
MWC:
State revolving fund loans	0.00% - 2.23%	2026 - 2054	16,336		12,763
Bank term loans	3.89% - 6.47%	2026 - 2055	85,000		60,000
Total MWC			101,336		72,763
Total debt			1,901,201		1,719,824
Unamortized debt premium and discount, net			(1,644)		(56)
Unamortized debt issuance costs			(9,234)		(9,216)
Current portion			(23,504)		(3,648)
Total long-term debt, less current portion			$	1,866,819	1,706,904

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(a)Senior notes held by institutional investors are unsecured obligations of H2O America, SJWC, CWC, TWC and MWC and require interest-only payments until maturity. To minimize issuance costs, the companies’ debt has primarily been placed privately.

(b)Debt does not contain a stated interest rate but is discounted using an effective rate of 5.61%.

Schedule of Maturities of Long-term Debt

The following is a table of the consolidated company’s schedule of principal payments:

Year
2026	$	23,950
2027	3,207
2028	44,699
2029	325,624
2030	53,201
Thereafter	1,450,520

The following is a table of the H2O America’s schedule of principal payments on long-term debt:

Year
2026	$	—
2027	—
2028	—
2029	310,000
2030	50,000
Thereafter	200,000