v3.25.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating Revenues        
Water $ 119,697 $ 110,424 $ 221,700 $ 200,689
Electric 12,928 8,703 27,930 20,908
Contracted services 30,441 36,201 61,449 68,982
Total operating revenues 163,066 155,328 311,079 290,579
Operating Expenses        
Water purchased 23,911 17,968 40,219 31,729
Power purchased for pumping 3,554 3,521 6,703 6,353
Groundwater production assessment 6,125 5,818 11,804 10,672
Power purchased for resale 3,466 1,503 9,534 5,835
Supply cost balancing accounts (136) 3,436 (1,852) 2,828
Other operation 12,310 10,733 22,800 20,356
Administrative and general 25,222 23,487 52,097 48,834
Depreciation and amortization 11,681 10,770 23,263 21,492
Maintenance 6,129 3,535 10,276 6,760
Property and other taxes 6,955 6,612 13,907 13,099
ASUS construction 12,890 16,197 25,823 31,899
Utilities Operating Expense, Total 112,107 103,580 214,574 199,857
Operating Income 50,959 51,748 96,505 90,722
Other Income and Expenses        
Interest expense (12,108) (13,137) (24,190) (25,992)
Interest income 1,498 2,093 3,511 4,163
Other, net 3,576 1,519 3,405 3,861
Total other income and expenses, net (7,034) (9,525) (17,274) (17,968)
Income before income tax expense 43,925 42,223 79,231 72,754
Income tax expense 10,235 10,359 18,697 17,755
Net Income $ 33,690 $ 31,864 $ 60,534 $ 54,999
Basic Earnings Per Common Share        
Weighted Average Number of Common Shares Outstanding (in shares) 38,509 37,309 38,382 37,169
Basic Earnings Per Common Share (in dollars per share) $ 0.87 $ 0.85 $ 1.57 $ 1.48
Fully Diluted Earnings Per Share        
Weighted Average Number of Diluted Shares (in shares) 38,642 37,418 38,500 37,263
Fully Diluted Earnings Per Common Share (in dollars per share) $ 0.87 $ 0.85 $ 1.57 $ 1.47
Dividends declared per common share (in dollars per share) $ 0.4655 $ 0.4300 $ 0.9310 $ 0.8600
GOLDEN STATE WATER COMPANY        
Operating Revenues        
Water $ 119,697 $ 110,424 $ 221,700 $ 200,689
Total operating revenues 119,697 110,424 221,700 200,689
Operating Expenses        
Water purchased 23,911 17,968 40,219 31,729
Power purchased for pumping 3,554 3,521 6,703 6,353
Groundwater production assessment 6,125 5,818 11,804 10,672
Supply cost balancing accounts 369 2,449 656 2,432
Other operation 8,800 7,442 15,475 14,022
Administrative and general 15,952 15,933 33,609 32,910
Depreciation and amortization 9,895 9,043 19,719 18,077
Maintenance 2,824 2,210 4,828 4,038
Property and other taxes 5,710 5,475 11,334 10,724
Utilities Operating Expense, Total 77,140 69,859 144,347 130,957
Operating Income 42,557 40,565 77,353 69,732
Other Income and Expenses        
Interest expense (9,265) (9,716) (18,593) (19,108)
Interest income 936 1,574 2,208 3,085
Other, net 3,008 1,259 2,688 3,591
Total other income and expenses, net (5,321) (6,883) (13,697) (12,432)
Income before income tax expense 37,236 33,682 63,656 57,300
Income tax expense 9,096 8,487 15,610 14,311
Net Income $ 28,140 $ 25,195 $ 48,046 $ 42,989