BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Utility Plant, at cost	$ 2,414,314	$ 2,227,311
Less — accumulated depreciation	(653,667)	(648,199)
Construction work in progress	255,483	304,929
Net utility plant	2,296,319	2,099,625
Other Property and Investments	58,664	50,418
Property Plant and Equipment and Investments Other and Goodwill Net	58,664	50,418
Current Assets
Cash and cash equivalents	18,824	26,661
Accounts receivable — customers, less allowance for doubtful accounts	38,321	37,699
Unbilled receivable	26,621	28,446
Other accounts receivable, less allowance for doubtful accounts	6,127	6,415
Income taxes receivable	0	65
Materials and supplies	16,406	15,140
Regulatory assets — current	39,396	50,504
Prepayments and other current assets	7,551	7,286
Total current assets	231,074	233,346
Other Assets
Operating lease right-of-use assets	6,093	8,028
Regulatory Asset, Noncurrent	30,073	27,101
Other	63,872	41,264
Total other assets	129,035	116,820
Total Assets	2,715,092	2,500,209
Capitalization
Common shareholder’s equity	1,045,581	920,051
Long-term debt	782,700	640,382
Total capitalization	1,828,281	1,560,433
Current Liabilities
Notes payable to banks	0	124,000
Long-term debt — current	8,209	385
Accounts payable	86,021	88,591
Income taxes payable	1,169	481
Accrued other taxes	12,871	16,694
Accrued employee expenses	16,193	15,523
Accrued interest	9,545	8,133
Operating lease liabilities	2,062	2,074
Other	11,304	15,159
Total current liabilities	174,612	285,525
Other Credits
Note payable to bank, noncurrent	141,000	165,000
Advances for construction	77,976	69,856
Contributions in aid of construction — net	179,277	160,306
Deferred income taxes	194,121	180,173
Regulatory liabilities	60,205	22,926
Unamortized investment tax credits	873	942
Accrued pension and other post-retirement benefits	36,557	33,816
Operating lease liabilities	4,406	6,394
Other	17,784	14,838
Total other credits	712,199	654,251
Total liabilities and capitalization	2,715,092	2,500,209
GSWC
Assets
Utility Plant, at cost	2,414,314	2,227,311
Less — accumulated depreciation	(564,529)	(561,256)
Total	1,849,785	1,666,055
Construction work in progress	233,899	245,314
Net utility plant	2,083,684	1,911,369
Other Property and Investments	55,829	47,753
Property Plant and Equipment and Investments Other and Goodwill Net	55,829	47,753
Current Assets
Cash and cash equivalents	9,964	11,338
Accounts receivable — customers, less allowance for doubtful accounts	33,212	34,712
Unbilled receivable	20,607	19,417
Other accounts receivable, less allowance for doubtful accounts	2,767	3,122
Receivable from affiliate	1,443	120
Income taxes receivable	2,555	3,253
Materials and supplies	9,127	7,543
Regulatory assets — current	23,211	41,099
Prepayments and other current assets	6,365	5,880
Total current assets	109,251	126,484
Other Assets
Operating lease right-of-use assets	5,856	7,981
Other	61,242	38,394
Total other assets	67,098	46,375
Total Assets	2,315,862	2,131,981
Capitalization
Common shareholder’s equity	933,737	805,833
Long-term debt	698,060	605,547
Total capitalization	1,631,797	1,411,380
Current Liabilities
Notes payable to banks	0	124,000
Long-term debt — current	8,209	385
Accounts payable	67,426	70,896
Income taxes payable	0	0
Accrued other taxes	10,322	14,285
Accrued employee expenses	12,847	12,271
Accrued interest	7,738	7,438
Operating lease liabilities	1,967	2,036
Other	10,762	14,468
Total current liabilities	119,271	245,779
Other Credits
Note payable to bank, noncurrent	13,000	0
Advances for construction	77,956	69,836
Contributions in aid of construction — net	179,277	160,306
Deferred income taxes	177,291	166,410
Regulatory liabilities	60,205	22,926
Unamortized investment tax credits	873	942
Accrued pension and other post-retirement benefits	35,948	33,351
Operating lease liabilities	4,268	6,394
Other	15,976	14,657
Total other credits	564,794	474,822
Total liabilities and capitalization	$ 2,315,862	$ 2,131,981