v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Utility plant:    
Land $ 44,498 $ 44,600
Depreciable plant and equipment 4,864,038 4,688,644
Construction work in progress 307,922 269,272
Intangible assets 51,683 51,683
Total utility plant 5,268,141 5,054,199
Less: accumulated depreciation and amortization 1,164,540 1,120,232
Net utility plant 4,103,601 3,933,967
Nonutility properties 2,166 1,683
Less: accumulated depreciation and amortization 105 103
Net nonutility properties 2,061 1,580
Current assets:    
Cash and cash equivalents 104,102 20,686
Accounts receivable:    
Customers, net of allowances for credit losses of $760 and $722 on June 30, 2026 and December 31, 2025, respectively 71,016 62,471
Income tax 0 2,720
Other 11,846 7,710
Accrued unbilled revenue 70,619 68,971
Prepaid expenses 11,644 11,634
Current portion of regulatory assets 19,610 8,315
Other current assets 7,566 8,086
Total current assets 296,403 190,593
Other assets:    
Regulatory assets, less current portion 243,938 246,547
Investments 20,646 19,711
Postretirement benefit plans 84,018 80,967
Goodwill 640,311 640,311
Other 46,286 35,890
Total other assets 1,035,199 1,023,426
Total assets 5,437,264 5,149,566
Stockholders’ equity:    
Common stock, $0.001 par value; authorized 70,000,000 shares; 41,852,853 issued and outstanding shares on June 30, 2026 and 36,118,242 on December 31, 2025 42 36
Additional paid-in capital 1,250,053 958,188
Retained earnings 592,340 581,080
Accumulated other comprehensive income 1,467 1,467
Total stockholders’ equity 1,843,902 1,540,771
Long-term debt, less current portion 1,881,479 1,866,819
Total capitalization 3,725,381 3,407,590
Current liabilities:    
Lines of credit 1,364 86,834
Current portion of long-term debt 8,648 23,504
Accrued groundwater extraction charges, purchased water and power 40,207 29,321
Accounts payable 70,444 75,427
Accrued interest 19,061 18,241
Accrued payroll 12,267 19,109
Current portion of regulatory liabilities 1 0
Other current liabilities 25,852 20,942
Total current liabilities 177,844 273,378
Deferred income taxes 317,902 307,893
Advances for construction 206,844 201,413
Contributions in aid of construction 353,869 342,697
Postretirement benefit plans 46,918 45,878
Regulatory liabilities, less current portion 578,408 546,797
Other noncurrent liabilities 30,098 23,920
Commitments and contingencies (Note 6)
Total capitalization and liabilities $ 5,437,264 $ 5,149,566