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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Revenues      
Water $ 464,114 $ 417,410 $ 433,473
Electric 57,217 51,645 41,832
Contracted services 136,742 126,404 120,394
Total operating revenues 658,073 595,459 595,699
Operating Expenses      
Water purchased 98,224 74,274 72,864
Power purchased for pumping 14,076 15,025 12,829
Groundwater production assessment 21,489 24,145 20,850
Power purchased for resale 18,110 11,630 13,275
Supply cost balancing accounts (5,014) (1,894) 12,118
Other operation 47,041 41,318 40,271
Administrative and general 102,811 100,941 88,273
Depreciation and amortization 47,784 43,647 42,403
Maintenance 21,663 20,255 14,218
Property and other taxes 28,008 27,091 24,046
ASUS construction 60,606 54,544 57,912
Gain on sale of assets 0 0 (100)
Total operating expenses 454,798 410,976 398,959
Operating Income 203,275 184,483 196,740
Other Income and Expenses      
Interest Expense 46,776 50,382 42,762
Interest income 5,650 7,874 7,416
Other, net 7,649 7,466 5,126
Total other income and expenses (33,477) (35,042) (30,220)
Income before income taxes 169,798 149,441 166,520
Income tax expense 39,356 30,173 41,599
Net Income $ 130,442 $ 119,268 $ 124,921
Basic Earnings Per Common Share      
Weighted Average Number of Shares Outstanding (in shares) 38,550 37,464 36,976
Basic earnings per Common Share (in USD per share) $ 3.37 $ 3.17 $ 3.37
Fully Diluted Earnings Per Share      
Weighted Average Number of Diluted Shares (in shares) 38,673 37,583 37,077
Diluted earnings per common share (in USD per share) $ 3.37 $ 3.17 $ 3.36
Dividends Paid Per Common Share (in USD per share) $ 1.939 $ 1.791 $ 1.655
AWR      
Other Income and Expenses      
Income before income taxes $ 128,459 $ 117,332 $ 123,207
Income tax expense (1,983) (1,936) (1,714)
Net Income $ 130,442 $ 119,268 $ 124,921
Basic Earnings Per Common Share      
Weighted Average Number of Shares Outstanding (in shares) 38,550 37,464 36,976
Basic earnings per Common Share (in USD per share) $ 3.37 $ 3.17 $ 3.37
Fully Diluted Earnings Per Share      
Weighted Average Number of Diluted Shares (in shares) 38,673 37,583 37,077
Diluted earnings per common share (in USD per share) $ 3.37 $ 3.17 $ 3.36
Dividends Paid Per Common Share (in USD per share) $ 1.939 $ 1.791 $ 1.655
GSWC      
Operating Revenues      
Water $ 464,114 $ 417,410 $ 433,473
Total operating revenues 464,114 417,410 433,473
Operating Expenses      
Water purchased 98,224 74,274 72,864
Power purchased for pumping 14,076 15,025 12,829
Groundwater production assessment 21,489 24,145 20,850
Supply cost balancing accounts (96) (1,621) 13,839
Other operation 32,181 28,349 29,064
Administrative and general 66,637 64,510 59,313
Depreciation and amortization 40,336 37,187 35,886
Maintenance 10,286 9,788 9,906
Property and other taxes 22,617 22,233 19,845
Gain on sale of assets 0 0 (100)
Total operating expenses 305,750 273,890 274,296
Operating Income 158,364 143,520 159,177
Other Income and Expenses      
Interest Expense 35,747 38,532 31,283
Interest income 3,245 6,018 5,557
Other, net 6,634 6,326 4,946
Total other income and expenses (25,868) (26,188) (20,780)
Income before income taxes 132,496 117,332 138,397
Income tax expense 31,550 22,869 35,689
Net Income $ 100,946 $ 94,463 $ 102,708