Business Segments (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of reporting segments information

The tables below set forth information relating to AWR’s operating segments and AWR (parent). The utility plant balances are net of respective accumulated provisions for depreciation. Capital additions reflect capital expenditures paid in cash and exclude U.S. government-funded and third-party prime contractor funded capital expenditures for ASUS, and property installed by developers and conveyed to GSWC and BVES.


	As Of And For The Three Months Ended June 30, 2024
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	110,424	$	8,703	$	36,201	$	—	$	155,328
Operating income (loss)	40,565		1,233		9,952		(2)		51,748
Interest expense (income), net	8,142		951		361		1,590		11,044
Net property, plant and equipment	1,813,292		150,999		17,345		—		1,981,636
Depreciation and amortization expense (1)	9,043		893		834		—		10,770
Income tax expense (benefit)	8,487		(39)		2,322		(411)		10,359
Capital additions	54,349		5,945		1,454		—		61,748


	As Of And For The Three Months Ended June 30, 2023
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	116,908	$	8,828	$	31,664	$	—	$	157,400
Operating income (loss)	50,524		2,103		6,354		(36)		58,945
Interest expense (income), net	6,515		654		327		1,429		8,925
Net property, plant and equipment	1,666,700		130,502		16,859		—		1,814,061
Depreciation and amortization expense (1)	8,674		759		825		—		10,258
Income tax expense (benefit)	11,934		247		1,506		(483)		13,204
Capital additions	34,567		4,386		359		—		39,312



	As Of And For The Six Months Ended June 30, 2024
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	200,689	$	20,908	$	68,982	$	—	$	290,579
Operating income (loss)	69,732		4,374		16,619		(3)		90,722
Interest expense (income), net	16,023		1,816		678		3,312		21,829
Net property, plant and equipment	1,813,292		150,999		17,345		—		1,981,636
Depreciation and amortization expense (1)	18,077		1,777		1,638		—		21,492
Income tax expense (benefit)	14,311		521		3,882		(959)		17,755
Capital additions	95,627		11,161		2,510		—		109,298


	As Of And For The Six Months Ended June 30, 2023
					Contracted		AWR		Consolidated
(dollars in thousands)	Water		Electric		Services		Parent		AWR
Operating revenues	$	229,620	$	21,732	$	67,471	$	—	$	318,823
Operating income (loss)	90,763		5,734		13,650		(37)		110,110
Interest expense (income), net	12,009		1,227		554		2,752		16,542
Net property, plant and equipment	1,666,700		130,502		16,859		—		1,814,061
Depreciation and amortization expense (1)	18,280		1,507		1,674		—		21,461
Income tax expense (benefit)	20,844		948		3,191		(1,027)		23,956
Capital additions	76,572		11,038		1,039		—		88,649

(1) Depreciation computed on GSWC’s and BVES’s transportation equipment is recorded in other operation expenses and totaled $0.2 million for each of the three month periods ended June 30, 2024 and 2023, and totaled $0.3 million and $0.5 million for the six months ended June 30, 2024 and 2023, respectively. For the six months ended June 30, 2023, additional depreciation expense on GSWC’s transportation equipment of $0.2 million was recorded that relates to the cumulative retroactive impact for the full year of 2022 approved in the CPUC’s final decision issued in June 2023 in GSWC’s general rate case that resulted in an increase to the transportation equipment composite depreciation rates that were retroactive to January 1, 2022.

Schedule of reconciliation of total utility plant (a key figure for rate-making) to total consolidated assets

The following table reconciles total net property, plant and equipment (a key figure for ratemaking) to total consolidated assets (in thousands):


	June 30,
	2024		2023
Total net property, plant and equipment	$	1,981,636	$	1,814,061
Other assets	366,684		325,574
Total consolidated assets	$	2,348,320	$	2,139,635