Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of significant components of the deferred tax assets and liabilities from continuing operations

The significant components of the deferred tax assets and liabilities as reflected in the balance sheets at December 31, 2023 and 2022 are:

	AWR				GSWC
	December 31,				December 31,
(dollars in thousands)	2023		2022		2023		2022
Deferred tax assets:
Regulatory-liability-related (1)	$	32,042	$	31,330	$	30,407	$	29,623
Contributions and advances	6,660		6,544		6,981		6,896
Other	5,924		7,424		6,041		7,874
Total deferred tax assets	$	44,626	$	45,298	$	43,429	$	44,393
Deferred tax liabilities:
Fixed assets	$	(161,820)	$	(155,955)	$	(155,131)	$	(150,133)
Regulatory-asset-related: depreciation and other	(36,337)		(30,226)		(33,242)		(28,489)
Balancing and memorandum accounts (non-flowed-through)	(8,046)		(8,794)		(2,514)		(4,559)
Total deferred tax liabilities	(206,203)		(194,975)		(190,887)		(183,181)
Accumulated deferred income taxes, net	$	(161,577)	$	(149,677)	$	(147,458)	$	(138,788)

Schedule of current and deferred components of income tax expense from continuing operations

The current and deferred components of income tax expense are as follows:

	AWR
	Year Ended December 31,
(dollars in thousands)	2023		2022		2021
Current
Federal	$	26,327	$	14,845	$	19,592
State	10,489		6,016		7,270
Total current tax expense	$	36,816	$	20,861	$	26,862
Deferred
Federal	$	4,157	$	2,991	$	2,802
State	626		(188)		759
Total deferred tax (benefit) expense	4,783		2,803		3,561
Total income tax expense	$	41,599	$	23,664	$	30,423

	GSWC
	Year Ended December 31,
(dollars in thousands)	2023		2022		2021
Current
Federal	$	22,564	$	10,582	$	13,698
State	10,176		4,909		6,089
Total current tax expense	$	32,740	$	15,491	$	19,787
Deferred
Federal	$	2,867	$	1,507	$	2,251
State	82		(652)		57
Total deferred tax (benefit) expense	2,949		855		2,308
Total income tax expense	$	35,689	$	16,346	$	22,095

Schedule of reconciliations of the effective tax rates to the federal statutory rate

:

	AWR
	Year Ended December 31,
(dollars in thousands)	2023			2022			2021
Federal taxes on pretax income at statutory rate	$	34,969		$	21,433		$	26,202
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit	9,785			4,335			6,425
Excess deferred tax amortization	(1,648)			(1,311)			(1,356)
Flow-through on fixed assets	1,067			1,076			1,069
Flow-through on removal costs	(2,255)			(1,802)			(1,962)
Investment tax credit	(71)			(71)			(71)
Other – net	(248)			4			116
Total income tax expense from operations	$	41,599		$	23,664		$	30,423
Pretax income from operations	$	166,520		$	102,060		$	124,770
Effective income tax rate	25.0		%	23.2		%	24.4		%

	GSWC
	Year Ended December 31,
(dollars in thousands)	2023			2022			2021
Federal taxes on pretax income at statutory rate	$	29,063		$	14,724		$	19,175
Increase (decrease) in taxes resulting from:
State income tax, net of federal benefit	9,169			3,119			4,923
Excess deferred tax amortization	(1,681)			(1,130)			(1,184)
Flow-through on fixed assets	1,041			1,010			1,008
Flow-through on removal costs	(2,225)			(1,715)			(1,954)
Investment tax credit	(71)			(71)			(71)
Other – net	393			409			198
Total income tax expense from operations	$	35,689		$	16,346		$	22,095
Pretax income from operations	$	138,397		$	70,116		$	91,310
Effective income tax rate	25.8		%	23.3		%	24.2		%