v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities:    
Net income $ 60,534 $ 54,999
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,791 21,822
Provision for doubtful accounts 1,153 724
Deferred income taxes and investment tax credits 4,446 2,442
Stock-based compensation expense 3,066 2,852
Loss (gain) on investments held in a trust (2,161) (3,046)
Other — net 534 225
Changes in assets and liabilities:    
Accounts receivable — customers (5,638) (5,550)
Unbilled receivable 1,894 (1,383)
Other receivables 1,321 2,007
Receivables from the U.S. government 3,738 1,159
Materials and supplies (752) 605
Prepayments and other assets (3,152) (2,491)
Contract assets (1,772) (4,685)
Regulatory assets/liabilities 11,417 (3,001)
Accounts payable 468 2,608
Income taxes receivable/payable 13,559 3,764
Contract liabilities 4,625 (113)
Accrued pension and other postretirement benefits 734 1,362
Other liabilities (8,169) (3,785)
Net cash provided (used) 109,636 70,515
Cash Flows From Investing Activities:    
Capital expenditures (118,481) (109,298)
Other investing activities 147 401
Net cash provided (used) (118,334) (108,897)
Cash Flows From Financing Activities:    
Proceeds from issuance of Common Shares to Parent 25,590 32,423
Receipt of advances for and contributions in aid of construction 4,532 5,672
Refunds on advances for construction (3,799) (2,998)
Repayments of long-term debt (272) (256)
Proceeds from the issuance of long-term debt, net of issuance costs 149,241 64,618
Net changes in notes payable to banks (136,000) (38,500)
Dividends paid (35,688) (31,929)
Other financing activities (1,320) (1,138)
Net cash provided (used) 2,284 27,892
Net change in cash and cash equivalents (6,414) (10,490)
Cash and cash equivalents, beginning of period 26,661 14,073
Cash and cash equivalents, end of period 20,247 3,583
Non-cash transactions:    
Accrued payables for investment in utility plant 36,530 35,541
Property installed by developers and conveyed 14,659 3,625
GOLDEN STATE WATER COMPANY    
Cash Flows From Operating Activities:    
Net income 48,046 42,989
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,209 18,346
Provision for doubtful accounts 865 629
Deferred income taxes and investment tax credits 2,431 2,161
Stock-based compensation expense 2,826 2,679
Loss (gain) on investments held in a trust (2,161) (3,046)
Other — net 394 149
Changes in assets and liabilities:    
Accounts receivable — customers (4,576) (6,310)
Unbilled receivable (2,923) (1,105)
Other receivables 618 1,147
Materials and supplies 618 (424)
Prepayments and other assets (1,608) (961)
Regulatory assets/liabilities 13,175 (3,602)
Accounts payable (338) 2,930
Intercompany receivable/payable 104 (122)
Income taxes receivable/payable 13,180 4,094
Accrued pension and other postretirement benefits 666 1,308
Other liabilities (8,232) (3,081)
Net cash provided (used) 83,294 57,781
Cash Flows From Investing Activities:    
Capital expenditures (101,079) (95,627)
Other investing activities 125 118
Net cash provided (used) (100,954) (95,509)
Cash Flows From Financing Activities:    
Proceeds from issuance of Common Shares to Parent 50,005 0
Receipt of advances for and contributions in aid of construction 4,532 5,672
Refunds on advances for construction (3,799) (2,998)
Repayments of long-term debt (272) (256)
Proceeds from the issuance of long-term debt, net of issuance costs 99,432 64,618
Net changes in notes payable to banks (115,000) (31,000)
Dividends paid (18,000) 0
Other financing activities (1,183) (1,064)
Net cash provided (used) 15,715 34,972
Net change in cash and cash equivalents (1,945) (2,756)
Cash and cash equivalents, beginning of period 11,338 3,195
Cash and cash equivalents, end of period 9,393 439
Non-cash transactions:    
Accrued payables for investment in utility plant 34,051 32,454
Property installed by developers and conveyed $ 14,659 $ 3,625