v3.26.1
Business Segments
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Business Segments Business Segments
AWR has three reportable segments: water, electric and contracted services. GSWC has one segment, water. On a stand-alone basis, AWR has no material assets or liabilities other than its equity investments in its subsidiaries, note payables to bank, deferred taxes and note receivables from affiliate.
GSWC and BVES are CPUC regulated public utilities with business activities conducted in California. Activities of ASUS and its subsidiaries are conducted in California, Florida, Kansas, Maryland, Massachusetts, New Mexico, North Carolina, South Carolina, Texas and Virginia. Some of ASUS’s wholly owned subsidiaries are regulated by the state in which the subsidiary primarily conducts water and/or wastewater operations. Fees charged for operations and maintenance and renewal and replacement services are based upon the terms of the contracts with the U.S. government, which have been filed, as appropriate, with the commissions in the states in which ASUS’s subsidiaries are incorporated.
Registrant evaluates the performance of its reportable segments based on segment net income (loss). Registrant’s chief operating decision maker is the chief executive officer. The chief operating decision maker uses segment net income (loss) as a financial measure as part of the annual operating budget and forecasting process to monitor monthly financial activities of its segments. This financial information is reviewed and evaluated by the chief operating decision maker in making segment operating, capital, and business decisions.
The following tables present information by reportable segment and AWR (parent) that reconcile segment net income (loss) to total consolidated net income (loss) and segment assets to total consolidated assets. The utility plant balances are net of respective accumulated provisions for depreciation. The net property, plant and equipment of the electric segment is presented net of Contributions in Aid of Construction (CIAC). Capital additions reflect capital expenditures paid in cash and exclude U.S. government-funded and third-party prime funded capital expenditures for ASUS’s subsidiaries and property installed by developers and conveyed to GSWC and BVES.
  For The Three Months Ended March 31, 2026
Total
 Contracted ReportableAWRConsolidated
(dollars in thousands)WaterElectric ServicesSegmentsParentAWR
Operating revenues$113,110 $18,657 $37,424 $169,191 $— $169,191 
Less:
    Supply costs30,261 4,397 — 34,658 — 34,658 
    Other operation7,144 1,341 2,783 11,268 — 11,268 
    Administrative and general17,754 3,666 6,732 28,152 2 28,154 
    Depreciation and amortization expense (1)
10,659 1,066 959 12,684 — 12,684 
    Maintenance2,074 2,250 1,376 5,700 — 5,700 
    Property and other taxes6,520 822 681 8,023 — 8,023 
    ASUS construction expense— — 17,333 17,333 — 17,333 
Segment operating income (loss)38,698 5,115 7,560 51,373 (2)51,371 
    Interest expense
(9,392)(1,253)(71)(10,716)(1,391)(12,107)
    Interest income
478 290 200 968 8 976 
    Gain (loss) on investments held in a trust
(1,272)— — (1,272)— (1,272)
    Income tax expense (benefit)
7,564 884 1,889 10,337 (465)9,872 
    Other segment items income (expense) (2)
735 45 15 795 57 852 
Segment net income (loss)$21,683 $3,313 $5,815 $30,811 $(863)$29,948 
 For The Three Months Ended March 31, 2026
Total
ContractedReportableAWRConsolidated
(dollars in thousands)WaterElectricServicesSegmentsParentAWR
Capital additions (3)
$42,244 $4,932 $1,875 $49,051 $— $49,051 
 For The Three Months Ended March 31, 2025
Total
 Contracted ReportableAWRConsolidated
(dollars in thousands)WaterElectric ServicesSegmentsParentAWR
Operating revenues$102,003 $15,002 $31,008 $148,013 $— $148,013 
Less:
    Supply costs25,423 4,065 — 29,488 — 29,488 
    Other operation6,675 1,241 2,574 10,490 — 10,490 
    Administrative and general17,657 3,098 6,119 26,874 1 26,875 
    Depreciation and amortization expense (1)
9,824 885 873 11,582 — 11,582 
    Maintenance2,004 911 1,232 4,147 — 4,147 
    Property and other taxes5,624 686 642 6,952 — 6,952 
    ASUS construction expense— — 12,933 12,933 — 12,933 
Segment operating income (loss)34,796 4,116 6,635 45,547 (1)45,546 
    Interest expense
(9,328)(1,136)(313)(10,777)(1,305)(12,082)
    Interest income
1,272 524 199 1,995 18 2,013 
    Gain (loss) on investments held in a trust
(586)— — (586)— (586)
    Income tax expense (benefit)
6,514 1,047 1,377 8,938 (476)8,462 
    Other segment items income (expense) (2)
266 169 (20)415 — 415 
Segment net income (loss)$19,906 $2,626 $5,124 $27,656 $(812)$26,844 
For The Three Months Ended March 31, 2025
Total
ContractedReportableAWRConsolidated
(dollars in thousands)WaterElectricServicesSegmentsParentAWR
Capital additions (3)
$57,858 $7,853 $1,854 $67,565 $— $67,565 
(1)   Depreciation computed on regulated utilities’ transportation equipment is recorded in other operating expenses and totaled $0.3 million for each of the three months ended March 31, 2026 and 2025.
(2) Other segment items primarily consist of a) non-service cost components related to Registrant’s benefit plans, and b) AFUDC (equity) on certain BVES capital projects while under construction.
(3) Capital additions reflect capital expenditures paid in cash and exclude U.S. government-funded and third-party prime funded capital expenditures for ASUS’s subsidiaries and property installed by developers and conveyed to GSWC and BVES.
The following tables reconcile segment net property, plant and equipment to total consolidated assets (in thousands):
As of March 31, 2026
Total
 ContractedReportableAWRLessConsolidated
 WaterElectricServicesSegmentsParentEliminationsAWR
Total net property, plant and equipment (4)
$2,114,302 $194,252 $21,139 $2,329,693 $— $— $2,329,693 
Other assets220,008 58,765 123,628 402,401 1,180,569 (1,178,523)404,447 
Total consolidated assets$2,334,310 $253,017 $144,767 $2,732,094 $1,180,569 $(1,178,523)$2,734,140 
As of December 31, 2025
Total
ContractedReportableAWRLessConsolidated
WaterElectricServicesSegmentsParentEliminationsAWR
Total net property, plant and equipment (4)
$2,083,684 $192,416 $20,219 $2,296,319 $— $— $2,296,319 
Other assets232,178 61,928 126,437 420,543 1,176,760 (1,178,530)418,773 
Total consolidated assets$2,315,862 $254,344 $146,656 $2,716,862 $1,176,760 $(1,178,530)$2,715,092 
(4) The utility plant balances are net of respective accumulated provisions for depreciation.