falsedesktopAWR2020-09-30000105690320000074{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "California\t\t\t95-4676679\n(State or Other Jurisdiction of Incorporation or Organization)\t\t\t(IRS Employer Identification No.)\n630 E. Foothill Blvd\tSan Dimas\tCA\t91773-1212\n(Address of Principal Executive Offices)\t\t\t(Zip Code)\n", "q10k_tbl_1": "California\t\t\t95-1243678\n(State or Other Jurisdiction of Incorporation or Organization)\t\t\t(IRS Employer Identification No.)\n630 E. Foothill Blvd\tSan Dimas\tCA\t91773-1212\n(Address of Principal Executive Offices)\t\t\t(Zip Code)\n", "q10k_tbl_2": "Part I\tFinancial Information\t3\nItem 1:\tFinancial Statements\t1\n\tConsolidated Balance Sheets of American States Water Company as of September 30 2020 and December 31 2019\t5\n\tConsolidated Statements of Income of American States Water Company for the Three and Nine Months Ended September 30 2020 and 2019\t7\n\tConsolidated Statements of Changes in Common Shareholders' Equity - For the Nine Months Ended September 30 2020\t8\n\tConsolidated Statements of Changes in Common Shareholders' Equity - For the Nine Months Ended September 30 2019\t9\n\tConsolidated Statements of Cash Flows of American States Water Company for the Nine Months Ended September 30 2020 and 2019\t10\n\tBalance Sheets of Golden State Water Company as of September 30 2020 and December 31 2019\t11\n\tStatements of Income of Golden State Water Company for the Three and Nine Months Ended September 30 2020 and 2019\t13\n\tStatements of Changes in Common Shareholder's Equity - For the Nine Months Ended September 30 2020\t14\n\tStatements of Changes in Common Shareholder's Equity - For the Nine Months Ended September 30 2019\t15\n\tStatements of Cash Flows of Golden State Water Company for the Nine Months Ended September 30 2020 and 2019\t16\n\tNotes to Consolidated Financial Statements\t17\nItem 2:\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t31\nItem 3:\tQuantitative and Qualitative Disclosures About Market Risk\t58\nItem 4:\tControls and Procedures\t58\nPart II\tOther Information\t\nItem 1:\tLegal Proceedings\t59\nItem 1A:\tRisk Factors\t59\nItem 2:\tUnregistered Sales of Equity Securities and Use of Proceeds\t60\nItem 3:\tDefaults Upon Senior Securities\t60\nItem 4:\tMine Safety Disclosure\t60\nItem 5:\tOther Information\t60\nItem 6:\tExhibits\t61\n\tSignatures\t64\n", "q10k_tbl_3": "(in thousands)\tSeptember 30 2020\tDecember 31 2019\nProperty Plant and Equipment\t\t\nRegulated utility plant at cost\t2004446\t1926543\nNon-utility property at cost\t36187\t32425\nTotal\t2040633\t1958968\nLess - Accumulated depreciation\t(561523)\t(543263)\nNet property plant and equipment\t1479110\t1415705\nOther Property and Investments\t\t\nGoodwill\t1116\t1116\nOther property and investments\t31326\t30293\nTotal other property and investments\t32442\t31409\nCurrent Assets\t\t\nCash and cash equivalents\t8127\t1334\nAccounts receivable - customers (less allowance for doubtful accounts of $2400 in 2020 and $857 in 2019)\t33729\t20907\nUnbilled receivable\t25086\t20482\nReceivable from the U.S. government\t27144\t22613\nOther accounts receivable (less allowance for doubtful accounts of $53 in 2020 and $59 in 2019)\t3433\t3096\nIncome taxes receivable\t163\t5685\nMaterials and supplies at weighted average cost\t8699\t6429\nRegulatory assets - current\t16766\t20930\nPrepayments and other current assets\t6541\t5413\nContract assets\t9719\t15567\nTotal current assets\t139407\t122456\nOther Assets\t\t\nUnbilled revenue- receivable from U.S. government\t10423\t8621\nReceivable from the U.S. government\t42962\t42206\nContract assets\t367\t64\nOperating lease right-of-use assets\t11516\t13168\nOther\t10191\t7702\nTotal other assets\t75459\t71761\nTotal Assets\t1726418\t1641331\n", "q10k_tbl_4": "(in thousands except number of shares)\tSeptember 30 2020\tDecember 31 2019\nCapitalization\t\t\nCommon shares no par value\t\t\nAuthorized: 60000000 shares\t\t\nOutstanding: 36889061 shares in 2020 and 36846614 shares in 2019\t256622\t255566\nEarnings reinvested in the business\t377198\t345964\nTotal common shareholders' equity\t633820\t601530\nLong-term debt\t440343\t280996\nTotal capitalization\t1074163\t882526\nCurrent Liabilities\t\t\nNotes payable to banks\t0\t5000\nLong-term debt - current\t358\t344\nAccounts payable\t53644\t55616\nIncome taxes payable\t3053\t95\nAccrued other taxes\t11560\t11110\nAccrued employee expenses\t13827\t14255\nAccrued interest\t7245\t3050\nUnrealized loss on purchased power contracts\t2518\t3171\nContract liabilities\t8670\t11167\nOperating lease liabilities\t1812\t1849\nOther\t10769\t10341\nTotal current liabilities\t113456\t115998\nOther Credits\t\t\nNotes payable to bank\t92000\t200000\nAdvances for construction\t63276\t63989\nContributions in aid of construction - net\t139754\t134706\nDeferred income taxes\t129137\t125304\nRegulatory liabilities\t20064\t23380\nUnamortized investment tax credits\t1242\t1295\nAccrued pension and other postretirement benefits\t66924\t68469\nOperating lease liabilities\t10161\t11739\nOther\t16241\t13925\nTotal other credits\t538799\t642807\nCommitments and Contingencies (Note 9)\t\t\nTotal Capitalization and Liabilities\t1726418\t1641331\n", "q10k_tbl_5": "\tThree months ended September 30\t\tNine months ended September 30\t\n(in thousands except per share amounts)\t2020\t2019\t2020\t2019\nOperating Revenues\t\t\t\t\nWater\t98701\t95249\t257199\t248112\nElectric\t8288\t11996\t26935\t30033\nContracted services\t26699\t27251\t79909\t82731\nTotal operating revenues\t133688\t134496\t364043\t360876\nOperating Expenses\t\t\t\t\nWater purchased\t23445\t23361\t56291\t55263\nPower purchased for pumping\t3369\t3042\t7626\t6562\nGroundwater production assessment\t5962\t5634\t15140\t14020\nPower purchased for resale\t2117\t2403\t7127\t8498\nSupply cost balancing accounts\t(2639)\t(2680)\t(6606)\t(2845)\nOther operation\t8128\t8267\t24573\t24546\nAdministrative and general\t20644\t20626\t63992\t61827\nDepreciation and amortization\t9348\t9006\t27190\t26493\nMaintenance\t4246\t4109\t12224\t9728\nProperty and other taxes\t5693\t5234\t16098\t15000\nASUS construction\t13573\t12894\t39175\t39671\nGain on sale of assets\t(5)\t(124)\t(9)\t(236)\nTotal operating expenses\t93881\t91772\t262821\t258527\nOperating Income\t39807\t42724\t101222\t102349\nOther Income and Expenses\t\t\t\t\nInterest expense\t(6161)\t(6279)\t(17533)\t(18878)\nInterest income\t316\t826\t1364\t2644\nOther net\t1613\t140\t2388\t2073\nTotal other income and expenses net\t(4232)\t(5313)\t(13781)\t(14161)\nIncome before income tax expense\t35575\t37411\t87441\t88188\nIncome tax expense\t9045\t9405\t21227\t20546\nNet Income\t26530\t28006\t66214\t67642\nWeighted Average Number of Common Shares Outstanding\t36886\t36835\t36877\t36804\nBasic Earnings Per Common Share\t0.72\t0.76\t1.79\t1.83\nWeighted Average Number of Diluted Shares\t37002\t36996\t36990\t36960\nFully Diluted Earnings Per Common Share\t0.72\t0.76\t1.79\t1.83\nDividends Declared Per Common Share\t0.335\t0.305\t0.945\t0.855\n", "q10k_tbl_6": "\tNine Months Ended September 30 2020\t\t\t\n\tCommon Shares\t\tReinvested\t\n\tNumber\t\tEarnings\t\n\tof\t\tin the\t\n(in thousands)\tShares\tAmount\tBusiness\tTotal\nBalances at December 31 2019\t36847\t255566\t345964\t601530\nAdd:\t\t\t\t\nNet income\t\t\t14072\t14072\nExercise of stock options and other issuances of Common Shares\t37\t30\t\t30\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t193\t\t193\nDividend equivalent rights on stock-based awards not paid in cash\t\t52\t\t52\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t11242\t11242\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t52\t52\nBalances at March 31 2020\t36884\t255841\t348742\t604583\nAdd:\t\t\t\t\nNet income\t\t\t25612\t25612\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t343\t\t343\nDividend equivalent rights on stock-based awards not paid in cash\t\t39\t\t39\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t11250\t11250\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t39\t39\nBalances at June 30 2020\t36884\t256223\t363065\t619288\nAdd:\t\t\t\t\nNet income\t\t\t26530\t26530\nExercise of stock options and other issuances of Common Shares\t5\t0\t\t0\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t358\t\t358\nDividend equivalent rights on stock-based awards not paid in cash\t\t41\t\t41\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t12356\t12356\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t41\t41\nBalances at September 30 2020\t36889\t256622\t377198\t633820\n", "q10k_tbl_7": "\tNine Months Ended September 30 2019\t\t\t\n\tCommon Shares\t\tReinvested\t\n\tNumber\t\tEarnings\t\n\tof\t\tin the\t\n(in thousands)\tShares\tAmount\tBusiness\tTotal\nBalances at December 31 2018\t36758\t253689\t304534\t558223\nAdd:\t\t\t\t\nNet income\t\t\t12852\t12852\nExercise of stock options and other issuances of Common Shares\t37\t75\t\t75\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t463\t\t463\nDividend equivalent rights on stock-based awards not paid in cash\t\t70\t\t70\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t10113\t10113\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t70\t70\nBalances at March 31 2019\t36795\t254297\t307203\t561500\nAdd:\t\t\t\t\nNet income\t\t\t26784\t26784\nExercise of stock options and other issuances of Common Shares\t37\t291\t\t291\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t331\t\t331\nDividend equivalent rights on stock-based awards not paid in cash\t\t50\t\t50\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t10119\t10119\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t50\t50\nBalances at June 30 2019\t36832\t254969\t323818\t578787\nAdd:\t\t\t\t\nNet income\t\t\t28006\t28006\nExercise of stock options and other issuances of Common Shares\t7\t50\t\t50\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t338\t\t338\nDividend equivalent rights on stock-based awards not paid in cash\t\t51\t\t51\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t11234\t11234\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t51\t51\nBalances at September 30 2019\t36839\t255408\t340539\t595947\n", "q10k_tbl_8": "\tNine Months Ended September 30\t\n(in thousands)\t2020\t2019\nCash Flows From Operating Activities:\t\t\nNet income\t66214\t67642\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nDepreciation and amortization\t27441\t26727\nProvision for doubtful accounts\t873\t471\nDeferred income taxes and investment tax credits\t1767\t2242\nStock-based compensation expense\t2474\t2468\nGain on sale of assets\t(9)\t(236)\nGain on investments held in a trust\t(1266)\t(2512)\nOther - net\t25\t144\nChanges in assets and liabilities:\t\t\nAccounts receivable - customers\t(14759)\t(5162)\nUnbilled receivable\t(6406)\t2393\nOther accounts receivable\t(337)\t473\nReceivables from the U.S. government\t(4834)\t(4160)\nMaterials and supplies\t(2270)\t(315)\nPrepayments and other assets\t347\t3029\nContract assets\t5092\t755\nRegulatory assets\t(367)\t(19112)\nAccounts payable\t2657\t2043\nIncome taxes receivable/payable\t8480\t3585\nContract liabilities\t(2497)\t5159\nAccrued pension and other postretirement benefits\t132\t564\nOther liabilities\t5086\t(1894)\nNet cash provided\t87843\t84304\nCash Flows From Investing Activities:\t\t\nCapital expenditures\t(94824)\t(111088)\nProceeds from sale of assets\t51\t137\nOther investing activities\t136\t279\nNet cash used\t(94637)\t(110672)\nCash Flows From Financing Activities:\t\t\nProceeds from stock option exercises\t30\t416\nReceipt of advances for and contributions in aid of construction\t7576\t8260\nRefunds on advances for construction\t(3401)\t(4679)\nRetirement or repayments of long-term debt\t(335)\t(40325)\nProceeds from the issuance of long-term debt net of issuance costs\t159422\t0\nNet change in notes payable to banks\t(113000)\t99000\nDividends paid\t(34848)\t(31466)\nOther financing activities\t(1857)\t(1581)\nNet cash provided\t13587\t29625\nNet change in cash and cash equivalents\t6793\t3257\nCash and cash equivalents beginning of period\t1334\t7141\nCash and cash equivalents end of period\t8127\t10398\nNon-cash transactions:\t\t\nAccrued payables for investment in utility plant\t20407\t25599\nProperty installed by developers and conveyed\t2861\t1376\n", "q10k_tbl_9": "(in thousands)\tSeptember 30 2020\tDecember 31 2019\nUtility Plant\t\t\nUtility plant at cost\t1870208\t1926543\nLess - Accumulated depreciation\t(496885)\t(531801)\nNet utility plant\t1373323\t1394742\nOther Property and Investments\t29253\t28212\nCurrent Assets\t\t\nCash and cash equivalents\t4073\t401\nAccounts receivable-customers (less allowance for doubtful accounts of $2264 in 2020 and $857 in 2019)\t31959\t20907\nUnbilled receivable\t21465\t18636\nOther accounts receivable (less allowance for doubtful accounts of $53 in 2020 and $59 in 2019)\t2096\t1857\nIncome taxes receivable from Parent\t445\t7727\nMaterials and supplies at average cost\t3661\t4920\nRegulatory assets - current\t16162\t20930\nPrepayments and other current assets\t4874\t4497\nTotal current assets\t84735\t79875\nOther Assets\t\t\nOperating lease right-of-use assets\t11336\t12745\nOther\t7104\t6880\nTotal other assets\t18440\t19625\nTotal Assets\t1505751\t1522454\n", "q10k_tbl_10": "(in thousands except number of shares)\tSeptember 30 2020\tDecember 31 2019\nCapitalization\t\t\nCommon Shares no par value:\t\t\nAuthorized: 1000 shares\t\t\nOutstanding: 165 shares in 2020 and 2019\t294873\t293754\nEarnings reinvested in the business\t216732\t257434\nTotal common shareholder's equity (Note 12)\t511605\t551188\nLong-term debt\t440343\t280996\nTotal capitalization\t951948\t832184\nCurrent Liabilities\t\t\nIntercompany payable to Parent\t34095\t158845\nLong-term debt - current\t358\t344\nAccounts payable\t40517\t45756\nAccrued other taxes\t10726\t10640\nAccrued employee expenses\t11492\t12386\nAccrued interest\t6968\t2736\nUnrealized loss on purchased power contracts (Note 12)\t0\t3171\nOperating lease liabilities\t1664\t1612\nOther\t9588\t9745\nTotal current liabilities\t115408\t245235\nOther Credits\t\t\nAdvances for construction\t63256\t63989\nContributions in aid of construction - net\t138102\t134706\nDeferred income taxes\t123240\t127806\nRegulatory liabilities\t20064\t23380\nUnamortized investment tax credits\t1242\t1295\nAccrued pension and other postretirement benefits\t66924\t68469\nOperating lease liabilities\t10161\t11588\nOther\t15406\t13802\nTotal other credits\t438395\t445035\nCommitments and Contingencies (Note 9)\t\t\nTotal Capitalization and Liabilities\t1505751\t1522454\n", "q10k_tbl_11": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(in thousands)\t2020\t2019\t2020\t2019\nOperating Revenues\t\t\t\t\nWater\t98701\t95249\t257199\t248112\nElectric (Note 12)\t0\t11996\t18647\t30033\nTotal operating revenues\t98701\t107245\t275846\t278145\nOperating Expenses (Note 12)\t\t\t\t\nWater purchased\t23445\t23361\t56291\t55263\nPower purchased for pumping\t3369\t3042\t7626\t6562\nGroundwater production assessment\t5962\t5634\t15140\t14020\nPower purchased for resale\t0\t2403\t5010\t8498\nSupply cost balancing accounts\t(3019)\t(2680)\t(6986)\t(2845)\nOther operation\t6185\t6729\t19185\t19643\nAdministrative and general\t13610\t15205\t46181\t44977\nDepreciation and amortization\t7835\t8359\t24073\t24354\nMaintenance\t3219\t3423\t9613\t7788\nProperty and other taxes\t4946\t4787\t14297\t13622\nGain on sale of assets\t0\t0\t0\t(83)\nTotal operating expenses\t65552\t70263\t190430\t191799\nOperating Income (Note 12)\t33149\t36982\t85416\t86346\nOther Income and Expenses\t\t\t\t\nInterest expense\t(5911)\t(5986)\t(16865)\t(17985)\nInterest income\t105\t546\t604\t1497\nOther net\t1483\t203\t2329\t2153\nTotal other income and expenses net\t(4323)\t(5237)\t(13932)\t(14335)\nIncome before income tax expense\t28826\t31745\t71484\t72011\nIncome tax expense\t7683\t8383\t18220\t17329\nNet Income (Note 12)\t21143\t23362\t53264\t54682\n", "q10k_tbl_12": "\tNine Months Ended September 30 2020\t\t\t\n\tCommon Shares\t\tReinvested\t\n\tNumber\t\tEarnings\t\n\tof\t\tin the\t\n(in thousands except number of shares)\tShares\tAmount\tBusiness\tTotal\nBalances at December 31 2019\t165\t293754\t257434\t551188\nAdd:\t\t\t\t\nNet income\t\t\t11202\t11202\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t254\t\t254\nDividend equivalent rights on stock-based awards not paid in cash\t\t46\t\t46\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t11250\t11250\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t46\t46\nBalances at March 31 2020\t165\t294054\t257340\t551394\nAdd:\t\t\t\t\nNet income\t\t\t20919\t20919\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t296\t\t296\nDividend equivalent rights on stock-based awards not paid in cash\t\t36\t\t36\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t11250\t11250\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t36\t36\nBalances at June 30 2020\t165\t294386\t266973\t561359\nAdd:\t\t\t\t\nNet income\t\t\t21143\t21143\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t447\t\t447\nDividend equivalent rights on stock-based awards not paid in cash\t\t40\t\t40\nDeduct:\t\t\t\t\nDistribution of BVESI common shares to AWR parent (Note 12)\t\t\t71344\t71344\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t40\t40\nBalances at September 30 2020\t165\t294873\t216732\t511605\n", "q10k_tbl_13": "\tNine Months Ended September 30 2019\t\t\t\n\tCommon Shares\t\tReinvested\t\n\tNumber\t\tEarnings\t\n\tof\t\tin the\t\n(in thousands except number of shares)\tShares\tAmount\tBusiness\tTotal\nBalances at December 31 2018\t165\t292412\t211163\t503575\nAdd:\t\t\t\t\nNet income\t\t\t9022\t9022\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t572\t\t572\nDividend equivalent rights on stock-based awards not paid in cash\t\t60\t\t60\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t10100\t10100\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t60\t60\nBalances at March 31 2019\t165\t293044\t210025\t503069\nAdd:\t\t\t\t\nNet income\t\t\t22298\t22298\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t257\t\t257\nDividend equivalent rights on stock-based awards not paid in cash\t\t44\t\t44\nDeduct:\t\t\t\t\nDividends on Common Shares\t\t\t10100\t10100\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t44\t44\nBalances at June 30 2019\t165\t293345\t222179\t515524\nAdd:\t\t\t\t\nNet income\t\t\t23362\t23362\nStock-based compensation net of taxes paid from shares withheld from employees related to net share settlements (Note 4)\t\t268\t\t268\nDividend equivalent rights on stock-based awards not paid in cash\t\t45\t\t45\nDeduct:\t\t\t\t\nDividend equivalent rights on stock-based awards not paid in cash\t\t\t45\t45\nBalances at September 30 2019\t165\t293658\t245496\t539154\n", "q10k_tbl_14": "\tNine Months Ended September 30\t\n(in thousands)\t2020\t2019\nCash Flows From Operating Activities:\t\t\nNet income\t53264\t54682\nAdjustments to reconcile net income to net cash provided by operating activities:\t\t\nDepreciation and amortization\t24293\t24588\nProvision for doubtful accounts\t855\t469\nDeferred income taxes and investment tax credits\t1357\t1245\nStock-based compensation expense\t2375\t2169\nGain on sale of property\t0\t(83)\nGain on investments held in a trust\t(1266)\t(2512)\nOther - net\t296\t219\nChanges in assets and liabilities:\t\t\nAccounts receivable - customers\t(14330)\t(5162)\nUnbilled receivable\t(3828)\t(2407)\nOther accounts receivable\t(239)\t505\nMaterials and supplies\t(2168)\t(256)\nPrepayments and other assets\t144\t2584\nRegulatory assets\t582\t(19112)\nAccounts payable\t3690\t5043\nIntercompany receivable/payable\t(1730)\t(49)\nIncome taxes receivable/payable from/to Parent\t7282\t7037\nAccrued pension and other postretirement benefits\t132\t564\nOther liabilities\t4384\t(568)\nNet cash provided\t75093\t68956\nCash Flows From Investing Activities:\t\t\nCapital expenditures\t(87665)\t(104791)\nProceeds from sale of assets\t0\t83\nOther investing activities\t136\t279\nNet cash used\t(87529)\t(104429)\nCash Flows From Financing Activities:\t\t\nReceipt of advances for and contributions in aid of construction\t7576\t8260\nRefunds on advances for construction\t(3401)\t(4679)\nRetirement or repayments of long-term debt\t(335)\t(40325)\nProceeds from the issuance of long-term debt net of issuance costs\t159422\t0\nNet change in intercompany borrowings\t(123000)\t94000\nDividends paid\t(22500)\t(20200)\nOther financing activities\t(1654)\t(1317)\nNet cash provided\t16108\t35739\nNet change in cash and cash equivalents\t3672\t266\nCash and cash equivalents beginning of period\t401\t4187\nCash and cash equivalents end of period\t4073\t4453\nNon-cash transactions:\t\t\nAccrued payables for investment in utility plant\t18656\t25599\nProperty installed by developers and conveyed\t2861\t1376\nTransfer of electric segment net assets (net of cash) for BVESI common shares (Note 12)\t71324\t0\nDistribution of BVESI common shares to AWR parent (Note 12)\t71344\t0\n", "q10k_tbl_15": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(dollar in thousands)\t2020\t2019\t2020\t2019\nWater:\t\t\t\t\nTariff-based revenues\t97036\t89050\t243553\t225501\nSurcharges (cost-recovery activities)\t1217\t1900\t2913\t2954\nOther\t569\t555\t1556\t1475\nWater revenues from contracts with customers\t98822\t91505\t248022\t229930\nWRAM (over) under-collection (alternative revenue program)\t(121)\t3744\t9177\t18182\nTotal water revenues\t98701\t95249\t257199\t248112\nElectric:\t\t\t\t\nTariff-based revenues\t8531\t9729\t25948\t28693\nSurcharges (cost-recovery activities)\t188\t51\t624\t148\nElectric revenues from contracts with customers\t8719\t9780\t26572\t28841\nBRRAM (over) under-collection (alternative revenue program)\t(431)\t2216\t363\t1192\nTotal electric revenues\t8288\t11996\t26935\t30033\nContracted services:\t\t\t\t\nWater\t17143\t13797\t45316\t41772\nWastewater\t9556\t13454\t34593\t40959\nContracted services revenues from contracts with customers\t26699\t27251\t79909\t82731\nTotal AWR revenues\t133688\t134496\t364043\t360876\n", "q10k_tbl_16": "(dollar in thousands)\tSeptember 30 2020\tDecember 31 2019\nUnbilled receivables\t12955\t10467\nReceivable from the U.S. government\t70106\t64819\nContract assets\t10086\t15631\nContract liabilities\t8670\t11167\n", "q10k_tbl_17": "(dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nGSWC\t\t\nWater Revenue Adjustment Mechanism and Modified Cost Balancing Account\t24904\t22535\nCosts deferred for future recovery on Aerojet case\t7169\t8292\nPensions and other post-retirement obligations (Note 8)\t40606\t40693\nDerivative unrealized loss (Note 5)\t0\t3171\nGeneral rate case memorandum accounts\t218\t4820\nExcess deferred income taxes\t(74597)\t(79886)\nFlow-through taxes net\t(10809)\t(12439)\nOther regulatory assets\t12227\t18842\nVarious refunds to customers\t(3620)\t(8478)\nTotal GSWC\t(3902)\t(2450)\nBVESI\t\t\nDerivative unrealized loss (Note 5)\t2518\t0\nOther regulatory assets\t171\t0\nTotal AWR\t(1213)\t(2450)\n", "q10k_tbl_18": "Basic:\tFor The Three Months Ended September 30\t\tFor The Nine Months Ended September 30\t\n(in thousands except per share amounts)\t2020\t2019\t2020\t2019\nNet income\t26530\t28006\t66214\t67642\nLess: (a) Distributed earnings to common shareholders\t12356\t11234\t34848\t31466\nDistributed earnings to participating securities\t43\t50\t116\t137\nUndistributed earnings\t14131\t16722\t31250\t36039\n(b) Undistributed earnings allocated to common shareholders\t14083\t16647\t31146\t35882\nUndistributed earnings allocated to participating securities\t48\t75\t104\t157\nTotal income available to common shareholders basic (a)+(b)\t26439\t27881\t65994\t67348\nWeighted average Common Shares outstanding basic\t36886\t36835\t36877\t36804\nBasic earnings per Common Share\t0.72\t0.76\t1.79\t1.83\n", "q10k_tbl_19": "Diluted:\tFor The Three Months Ended September 30\t\tFor The Nine Months Ended September 30\t\n(in thousands except per share amounts)\t2020\t2019\t2020\t2019\nCommon shareholders earnings basic\t26439\t27881\t65994\t67348\nUndistributed earnings for dilutive stock-based awards\t48\t75\t104\t157\nTotal common shareholders earnings diluted\t26487\t27956\t66098\t67505\nWeighted average common shares outstanding basic\t36886\t36835\t36877\t36804\nStock-based compensation (1)\t116\t161\t113\t156\nWeighted average common shares outstanding diluted\t37002\t36996\t36990\t36960\nDiluted earnings per Common Share\t0.72\t0.76\t1.79\t1.83\n", "q10k_tbl_20": "\tFor The Three Months Ended September 30\t\tFor The Nine Months Ended September 30\t\n(dollars in thousands)\t2020\t2019\t2020\t2019\nFair value at beginning of the period\t(3827)\t(267)\t(3171)\t(311)\nUnrealized gains (losses) on purchased power contracts\t1309\t(2755)\t653\t(2711)\nFair value at end of the period\t(2518)\t(3022)\t(2518)\t(3022)\n", "q10k_tbl_21": "\tSeptember 30 2020\t\tDecember 31 2019\t\n(dollars in thousands)\tCarrying Amount\tFair Value\tCarrying Amount\tFair Value\nFinancial liabilities:\t\t\t\t\nLong-term debt-GSWC (1)\t444349\t546363\t284699\t376467\n", "q10k_tbl_22": "\tFor The Three Months Ended September 30\t\t\t\t\t\n\tPension Benefits\t\tOther Postretirement Benefits\t\tSERP\t\n(dollars in thousands)\t2020\t2019\t2020\t2019\t2020\t2019\nComponents of Net Periodic Benefits Cost:\t\t\t\t\t\t\nService cost\t1390\t1110\t35\t53\t244\t298\nInterest cost\t1970\t2132\t44\t80\t247\t267\nExpected return on plan assets\t(2950)\t(2594)\t(130)\t(112)\t0\t0\nAmortization of prior service cost\t109\t109\t0\t0\t0\t0\nAmortization of actuarial (gain) loss\t484\t355\t(334)\t(150)\t211\t118\nNet periodic benefits costs under accounting standards\t1003\t1112\t(385)\t(129)\t702\t683\nRegulatory adjustment - deferred\t(121)\t(160)\t0\t0\t0\t0\nTotal expense (benefit) recognized before surcharges and allocation to overhead pool\t882\t952\t(385)\t(129)\t702\t683\n\tFor The Nine Months Ended September 30\t\t\t\t\t\n\tPension Benefits\t\tOther Postretirement Benefits\t\tSERP\t\n(dollars in thousands)\t2020\t2019\t2020\t2019\t2020\t2019\nComponents of Net Periodic Benefits Cost:\t\t\t\t\t\t\nService cost\t4170\t3330\t129\t159\t732\t894\nInterest cost\t5910\t6396\t156\t240\t741\t801\nExpected return on plan assets\t(8850)\t(7782)\t(384)\t(336)\t0\t0\nAmortization of prior service cost\t327\t327\t0\t0\t0\t0\nAmortization of actuarial (gain) loss\t1452\t1065\t(732)\t(450)\t633\t354\nNet periodic benefits costs under accounting standards\t3009\t3336\t(831)\t(387)\t2106\t2049\nRegulatory adjustment - deferred\t(362)\t(502)\t0\t0\t0\t0\nTotal expense (benefit) recognized before surcharges and allocation to overhead pool\t2647\t2834\t(831)\t(387)\t2106\t2049\n", "q10k_tbl_23": "\tThree Months Ended September 30 2020\t\tNine Months Ended September 30 2020\t\n(dollars in thousands)\tAWR\tGSWC\tAWR\tGSWC\nBalances at beginning of the period\t1662\t1662\t916\t916\nIncrease to provision\t871\t801\t1937\t1867\nBalance transfer to BVESI (Note 12)\t0\t(79)\t0\t(79)\nAccounts written off net of recoveries\t(80)\t(67)\t(400)\t(387)\nBalances at end of the period\t2453\t2317\t2453\t2317\nAllowance for doubtful accounts related to accounts receivable-customer\t2400\t2264\t2400\t2264\nAllowance for doubtful accounts related to other accounts receivable\t53\t53\t53\t53\nTotal allowance for doubtful accounts\t2453\t2317\t2453\t2317\n", "q10k_tbl_24": "\tAs Of And For The Three Months Ended September 30 2020\t\t\t\t\n\t\t\tContracted\tAWR\tConsolidated\n(dollars in thousands)\tWater\tElectric\tServices\tParent\tAWR\nOperating revenues\t98701\t8288\t26699\t0\t133688\nOperating income (loss)\t33149\t1865\t4794\t(1)\t39807\nInterest expense net\t5806\t54\t(74)\t59\t5845\nNet property plant and equipment\t1373323\t83188\t22599\t0\t1479110\nDepreciation and amortization expense (1)\t7835\t626\t887\t0\t9348\nIncome tax expense (benefit)\t7683\t533\t1150\t(321)\t9045\nCapital additions\t28076\t3039\t1122\t0\t32237\n", "q10k_tbl_25": "\tAs Of And For The Three Months Ended September 30 2019\t\t\t\t\n\t\t\tContracted\tAWR\tConsolidated\n(dollars in thousands)\tWater\tElectric\tServices\tParent\tAWR\nOperating revenues\t95249\t11996\t27251\t0\t134496\nOperating income (loss)\t31310\t5672\t5745\t(3)\t42724\nInterest expense net\t5206\t234\t(144)\t157\t5453\nNet property plant and equipment\t1291928\t66902\t19536\t0\t1378366\nDepreciation and amortization expense (1)\t7690\t669\t647\t0\t9006\nIncome tax expense (benefit)\t6720\t1663\t1391\t(369)\t9405\nCapital additions\t25267\t2864\t1802\t0\t29933\n", "q10k_tbl_26": "\tAs Of And For The Nine Months Ended September 30 2020\t\t\t\t\n\t\t\tContracted\tAWR\tConsolidated\n(dollars in thousands)\tWater\tElectric\tServices\tParent\tAWR\nOperating revenues\t257199\t26935\t79909\t0\t364043\nOperating income (loss)\t80416\t6865\t13946\t(5)\t101222\nInterest expense net\t15796\t519\t(371)\t225\t16169\nNet property plant and equipment\t1373323\t83188\t22599\t0\t1479110\nDepreciation and amortization expense (1)\t22858\t1841\t2491\t0\t27190\nIncome tax expense (benefit)\t17031\t1722\t3199\t(725)\t21227\nCapital additions\t78611\t12093\t4120\t0\t94824\n", "q10k_tbl_27": "\tAs Of And For The Nine Months Ended September 30 2019\t\t\t\t\n\t\t\tContracted\tAWR\tConsolidated\n(dollars in thousands)\tWater\tElectric\tServices\tParent\tAWR\nOperating revenues\t248112\t30033\t82731\t0\t360876\nOperating income (loss)\t77835\t8511\t16010\t(7)\t102349\nInterest expense net\t15555\t933\t(724)\t470\t16234\nNet property plant and equipment\t1291928\t66902\t19536\t0\t1378366\nDepreciation and amortization expense (1)\t22484\t1870\t2139\t0\t26493\nIncome tax expense (benefit)\t15205\t2124\t3816\t(599)\t20546\nCapital additions\t99939\t4852\t6297\t0\t111088\n", "q10k_tbl_28": "\tSeptember 30\t\n\t2020\t2019\nTotal net property plant and equipment\t1479110\t1378366\nOther assets\t247308\t226015\nTotal consolidated assets\t1726418\t1604381\n", "q10k_tbl_29": "\tThree months ended September 30\t\n\t2020\t2019 (1)\n\t(Subsidiary of AWR)\t(Division of GSWC)\nElectric revenues\t8288\t11996\nOperating expenses\t6423\t6324\nOperating income\t1865\t5672\nNet income\t1308\t3779\n", "q10k_tbl_30": "\tThree Months Ended September 30 2020\n\t(Subsidiary of AWR)\nNet cash provided from operating activities\t603\nNet cash used in investing activities\t(3039)\nNet cash provided from financing activities (2)\t2999\nNet change in cash and cash equivalents\t563\nCash and cash equivalents beginning of period\t20\nCash and cash equivalents end of period\t583\n", "q10k_tbl_31": "\tDiluted Earnings per Share\t\t\n\tThree Months Ended\t\t\n\t9/30/2020\t9/30/2019\tCHANGE\nWater\t0.57\t0.53\t0.04\nElectric (excluding retroactive impact of CPUC decision on general rate case)\t0.04\t0.03\t0.01\nContracted services\t0.10\t0.12\t(0.02)\nAWR (parent)\t0.01\t0.01\t0\nConsolidated diluted earnings per share adjusted\t0.72\t0.69\t0.03\nRetroactive impact of CPUC decision in the electric general rate case for the first six months of 2019 and full year of 2018\t0\t0.07\t(0.07)\nConsolidated diluted earnings per share as reported\t0.72\t0.76\t(0.04)\n", "q10k_tbl_32": "\tDiluted Earnings per Share\t\t\n\tNine Months Ended\t\t\n\t9/30/2020\t9/30/2019\tChange\nWater\t1.35\t1.33\t0.02\nElectric (excluding retroactive impact of CPUC decision on general rate case)\t0.13\t0.11\t0.02\nContracted services\t0.30\t0.34\t(0.04)\nAWR (parent)\t0.01\t0.01\t0\nConsolidated diluted earnings per share adjusted\t1.79\t1.79\t0\nRetroactive impact of CPUC decision in the electric general rate case for the full year of 2018\t0\t0.04\t(0.04)\nConsolidated diluted earnings per share as reported\t1.79\t1.83\t(0.04)\n", "q10k_tbl_33": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nOPERATING REVENUES\t\t\t\t\nWater\t98701\t95249\t3452\t3.6%\nElectric\t8288\t11996\t(3708)\t(30.9)%\nContracted services\t26699\t27251\t(552)\t(2.0)%\nTotal operating revenues\t133688\t134496\t(808)\t(0.6)%\nOPERATING EXPENSES\t\t\t\t\nWater purchased\t23445\t23361\t84\t0.4%\nPower purchased for pumping\t3369\t3042\t327\t10.7%\nGroundwater production assessment\t5962\t5634\t328\t5.8%\nPower purchased for resale\t2117\t2403\t(286)\t(11.9)%\nSupply cost balancing accounts\t(2639)\t(2680)\t41\t(1.5)%\nOther operation\t8128\t8267\t(139)\t(1.7)%\nAdministrative and general\t20644\t20626\t18\t0.1%\nDepreciation and amortization\t9348\t9006\t342\t3.8%\nMaintenance\t4246\t4109\t137\t3.3%\nProperty and other taxes\t5693\t5234\t459\t8.8%\nASUS construction\t13573\t12894\t679\t5.3%\nGain on sale of assets\t(5)\t(124)\t119\t*\nTotal operating expenses\t93881\t91772\t2109\t2.3%\nOPERATING INCOME\t39807\t42724\t(2917)\t(6.8)%\nOTHER INCOME AND EXPENSES\t\t\t\t\nInterest expense\t(6161)\t(6279)\t118\t(1.9)%\nInterest income\t316\t826\t(510)\t(61.7)%\nOther net\t1613\t140\t1473\t*\n\t(4232)\t(5313)\t1081\t(20.3)%\nINCOME BEFORE INCOME TAX EXPENSE\t35575\t37411\t(1836)\t(4.9)%\nIncome tax expense\t9045\t9405\t(360)\t(3.8)%\nNET INCOME\t26530\t28006\t(1476)\t(5.3)%\nBasic earnings per Common Share\t0.72\t0.76\t(0.04)\t(5.3)%\nFully diluted earnings per Common Share\t0.72\t0.76\t(0.04)\t(5.3)%\n", "q10k_tbl_34": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWATER OPERATING REVENUES (1)\t98701\t95249\t3452\t3.6%\nWATER SUPPLY COSTS:\t\t\t\t\nWater purchased (1)\t23445\t23361\t84\t0.4%\nPower purchased for pumping (1)\t3369\t3042\t327\t10.7%\nGroundwater production assessment (1)\t5962\t5634\t328\t5.8%\nWater supply cost balancing accounts (1)\t(3019)\t(3330)\t311\t(9.3)%\nTOTAL WATER SUPPLY COSTS\t29757\t28707\t1050\t3.7%\nWATER GROSS MARGIN (2)\t68944\t66542\t2402\t3.6%\nELECTRIC OPERATING REVENUES (1)\t8288\t11996\t(3708)\t(30.9)%\nELECTRIC SUPPLY COSTS:\t\t\t\t\nPower purchased for resale (1)\t2117\t2403\t(286)\t(11.9)%\nElectric supply cost balancing accounts (1)\t380\t650\t(270)\t(41.5)%\nTOTAL ELECTRIC SUPPLY COSTS\t2497\t3053\t(556)\t(18.2)%\nELECTRIC GROSS MARGIN (2)\t5791\t8943\t(3152)\t(35.2)%\n", "q10k_tbl_35": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t6185\t6203\t(18)\t(0.3)%\nElectric Services\t432\t526\t(94)\t(17.9)%\nContracted Services\t1511\t1538\t(27)\t(1.8)%\nTotal other operation\t8128\t8267\t(139)\t(1.7)%\n", "q10k_tbl_36": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t13610\t13473\t137\t1.0%\nElectric Services\t2359\t1732\t627\t36.2%\nContracted Services\t4674\t5418\t(744)\t(13.7)%\nAWR (parent)\t1\t3\t(2)\t(66.7)%\nTotal administrative and general\t20644\t20626\t18\t0.1%\n", "q10k_tbl_37": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t7835\t7690\t145\t1.9%\nElectric Services\t626\t669\t(43)\t(6.4)%\nContracted Services\t887\t647\t240\t37.1%\nTotal depreciation and amortization\t9348\t9006\t342\t3.8%\n", "q10k_tbl_38": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t3219\t3383\t(164)\t(4.8)%\nElectric Services\t193\t40\t153\t382.5%\nContracted Services\t834\t686\t148\t21.6%\nTotal maintenance\t4246\t4109\t137\t3.3%\n", "q10k_tbl_39": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t4946\t4483\t463\t10.3%\nElectric Services\t314\t304\t10\t3.3%\nContracted Services\t433\t447\t(14)\t(3.1)%\nTotal property and other taxes\t5693\t5234\t459\t8.8%\n", "q10k_tbl_40": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t5911\t5652\t259\t4.6%\nElectric Services\t86\t334\t(248)\t(74.3)%\nContracted Services\t105\t137\t(32)\t(23.4)%\nAWR (parent)\t59\t156\t(97)\t(62.2)%\nTotal interest expense\t6161\t6279\t(118)\t(1.9)%\n", "q10k_tbl_41": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t105\t446\t(341)\t(76.5)%\nElectric Services\t32\t100\t(68)\t(68.0)%\nContracted Services\t179\t281\t(102)\t(36.3)%\nAWR (parent)\t0\t(1)\t1\t(100.0)%\nTotal interest income\t316\t826\t(510)\t(61.7)%\n", "q10k_tbl_42": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t1483\t200\t1283\t641.5%\nElectric Services\t30\t3\t27\t900.0%\nContracted Services\t(34)\t(63)\t29\t(46.0)%\nAWR (parent)\t134\t0\t134\tN/A\nTotal other income and (expense) net\t1613\t140\t1473\t*\n", "q10k_tbl_43": "\tThree Months Ended September 30 2020\tThree Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t7683\t6720\t963\t14.3%\nElectric Services\t533\t1663\t(1130)\t(67.9)%\nContracted Services\t1150\t1391\t(241)\t(17.3)%\nAWR (parent)\t(321)\t(369)\t48\t(13.0)%\nTotal income tax expense\t9045\t9405\t(360)\t(3.8)%\n", "q10k_tbl_44": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nOPERATING REVENUES\t\t\t\t\nWater\t257199\t248112\t9087\t3.7%\nElectric\t26935\t30033\t(3098)\t(10.3)%\nContracted services\t79909\t82731\t(2822)\t(3.4)%\nTotal operating revenues\t364043\t360876\t3167\t0.9%\nOPERATING EXPENSES\t\t\t\t\nWater purchased\t56291\t55263\t1028\t1.9%\nPower purchased for pumping\t7626\t6562\t1064\t16.2%\nGroundwater production assessment\t15140\t14020\t1120\t8.0%\nPower purchased for resale\t7127\t8498\t(1371)\t(16.1)%\nSupply cost balancing accounts\t(6606)\t(2845)\t(3761)\t132.2%\nOther operation\t24573\t24546\t27\t0.1%\nAdministrative and general\t63992\t61827\t2165\t3.5%\nDepreciation and amortization\t27190\t26493\t697\t2.6%\nMaintenance\t12224\t9728\t2496\t25.7%\nProperty and other taxes\t16098\t15000\t1098\t7.3%\nASUS construction\t39175\t39671\t(496)\t(1.3)%\nGain on sale of assets\t(9)\t(236)\t227\t(96.2)%\nTotal operating expenses\t262821\t258527\t4294\t1.7%\nOPERATING INCOME\t101222\t102349\t(1127)\t(1.1)%\nOTHER INCOME AND EXPENSES\t\t\t\t\nInterest expense\t(17533)\t(18878)\t1345\t(7.1)%\nInterest income\t1364\t2644\t(1280)\t(48.4)%\nOther net\t2388\t2073\t315\t15.2%\n\t(13781)\t(14161)\t380\t(2.7)%\nINCOME BEFORE INCOME TAX EXPENSE\t87441\t88188\t(747)\t(0.8)%\nIncome tax expense\t21227\t20546\t681\t3.3%\nNET INCOME\t66214\t67642\t(1428)\t(2.1)%\nBasic earnings per Common Share\t1.79\t1.83\t(0.04)\t(2.2)%\nFully diluted earnings per Common Share\t1.79\t1.83\t(0.04)\t(2.2)%\n", "q10k_tbl_45": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWATER OPERATING REVENUES (1)\t257199\t248112\t9087\t3.7%\nWATER SUPPLY COSTS:\t\t\t\t\nWater purchased (1)\t56291\t55263\t1028\t1.9%\nPower purchased for pumping (1)\t7626\t6562\t1064\t16.2%\nGroundwater production assessment (1)\t15140\t14020\t1120\t8.0%\nWater supply cost balancing accounts (1)\t(7297)\t(4758)\t(2539)\t53.4%\nTOTAL WATER SUPPLY COSTS\t71760\t71087\t673\t0.9%\nWATER GROSS MARGIN (2)\t185439\t177025\t8414\t4.8%\nELECTRIC OPERATING REVENUES (1)\t26935\t30033\t(3098)\t(10.3)%\nELECTRIC SUPPLY COSTS:\t\t\t\t\nPower purchased for resale (1)\t7127\t8498\t(1371)\t(16.1)%\nElectric supply cost balancing accounts (1)\t691\t1913\t(1222)\t(63.9)%\nTOTAL ELECTRIC SUPPLY COSTS\t7818\t10411\t(2593)\t(24.9)%\nELECTRIC GROSS MARGIN (2)\t19117\t19622\t(505)\t(2.6)%\n", "q10k_tbl_46": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t17682\t17681\t1\t-%\nElectric Services\t1935\t1962\t(27)\t(1.4)%\nContracted Services\t4956\t4903\t53\t1.1%\nTotal other operation\t24573\t24546\t27\t0.1%\n", "q10k_tbl_47": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t41862\t39090\t2772\t7.1%\nElectric Services\t6678\t5887\t791\t13.4%\nContracted Services\t15447\t16843\t(1396)\t(8.3)%\nAWR (parent)\t5\t7\t(2)\t(28.6)%\nTotal administrative and general\t63992\t61827\t2165\t3.5%\n", "q10k_tbl_48": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t22858\t22484\t374\t1.7%\nElectric Services\t1841\t1870\t(29)\t(1.6)%\nContracted Services\t2491\t2139\t352\t16.5%\nTotal depreciation and amortization\t27190\t26493\t697\t2.6%\n", "q10k_tbl_49": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t8925\t7237\t1688\t23.3%\nElectric Services\t881\t551\t330\t59.9%\nContracted Services\t2418\t1940\t478\t24.6%\nTotal maintenance\t12224\t9728\t2496\t25.7%\n", "q10k_tbl_50": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t13697\t12781\t916\t7.2%\nElectric Services\t914\t841\t73\t8.7%\nContracted Services\t1487\t1378\t109\t7.9%\nTotal property and other taxes\t16098\t15000\t1098\t7.3%\n", "q10k_tbl_51": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t16315\t16897\t(582)\t(3.4)%\nElectric Services\t636\t1088\t(452)\t(41.5)%\nContracted Services\t352\t426\t(74)\t(17.4)%\nAWR (parent)\t230\t467\t(237)\t(50.7)%\nTotal interest expense\t17533\t18878\t(1345)\t(7.1)%\n", "q10k_tbl_52": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t519\t1342\t(823)\t(61.3)%\nElectric Services\t117\t155\t(38)\t(24.5)%\nContracted Services\t723\t1150\t(427)\t(37.1)%\nAWR (parent)\t5\t(3)\t8\t(266.7)%\nTotal interest income\t1364\t2644\t(1280)\t(48.4)%\n", "q10k_tbl_53": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t2266\t2143\t123\t5.7%\nElectric Services\t93\t10\t83\t830.0%\nContracted Services\t(105)\t(189)\t84\t(44.4)%\nAWR (parent)\t134\t109\t25\t22.9%\nTotal other income and (expense) net\t2388\t2073\t315\t15.2%\n", "q10k_tbl_54": "\tNine Months Ended September 30 2020\tNine Months Ended September 30 2019\t CHANGE\t% CHANGE\nWater Services\t17031\t15205\t1826\t12.0%\nElectric Services\t1722\t2124\t(402)\t(18.9)%\nContracted Services\t3199\t3816\t(617)\t(16.2)%\nAWR (parent)\t(725)\t(599)\t(126)\t21.0%\nTotal income tax expense\t21227\t20546\t681\t3.3%\n", "q10k_tbl_55": "Period\tTotal Number of Shares Purchased\t\tAverage Price Paid per Share\tTotal Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)\tMaximum Number of Shares That May Yet Be Purchased under the Plans or Programs (1)(3)\nJuly 1 - 31 2020\t212\t\t79.54\t0\t0\nAugust 1 - 31 2020\t418\t\t79.41\t0\t0\nSeptember 1 - 30 2020\t12073\t\t76.57\t0\t0\nTotal\t12703\t(2)\t76.72\t0\t\n", "q10k_tbl_56": "3.1\tBy-Laws of American States Water Company incorporated by reference to Exhibit 3.1 of Registrant's Form 10-Q filed August 6 2012 (File No. 1-14431)\n3.2\tBy-laws of Golden State Water Company incorporated by reference to Exhibit 3.2 of Registrant's Form 8-K filed May 13 2011 (File No. 1-14431)\n3.3\tAmended and Restated Articles of Incorporation of American States Water Company as amended incorporated by reference to Exhibit 3.1 of Registrant's Form 8-K filed June 19 2013\n3.4\tRestated Articles of Incorporation of Golden State Water Company as amended incorporated herein by reference to Exhibit 3.1 of Registrant's Form 10-Q for the quarter ended September 30 2005 (File No. 1-14431)\n4.1\tIndenture dated September 1 1993 between Golden State Water Company and The Bank of New York Mellon Trust Company N.A. as successor trustee as supplemented incorporated herein by reference to Exhibit 4.01 of Golden State Water Company Form S-3 filed December 12 2008 (File No. 333-156112)\n4.2\tNote Purchase Agreement dated as of October 11 2005 between Golden State Water Company and Co-Bank ACB incorporated by reference to Exhibit 4.1 of Registrant's Form 8-K filed October 13 2005 (File No. 1-14431)\n4.3\tDescription of Common Shares incorporated by reference to Exhibit 4.3 to Registrant's Form 10-K for the year ended December 31 2019\n4.4\tDescription of Debt Securities incorporated by reference to Exhibit 4.4 to Registrant's Form 10-K for the year ended December 31 2019\n10.1\tSecond Sublease dated October 5 1984 between Golden State Water Company and Three Valleys Municipal Water District incorporated herein by reference to Registrant's Registration Statement on Form S-2 Registration No. 33-5151\n10.2\tNote Agreement dated as of May 15 1991 between Golden State Water Company and Transamerica Occidental Life Insurance Company incorporated herein by reference to Registrant's Form 10-Q with respect to the quarter ended June 30 1991 (File No. 1-14431)\n10.3\tSchedule of omitted Note Agreements dated May 15 1991 between Golden State Water Company and Transamerica Annuity Life Insurance Company and Golden State Water Company and First Colony Life Insurance Company incorporated herein by reference to Registrant's Form 10-Q with respect to the quarter ended June 30 1991 (File No. 1-14431)\n10.4\tLoan Agreement between California Pollution Control Financing Authority and Golden State Water Company dated as of December 1 1996 incorporated by reference to Exhibit 10.7 of Registrant's Form 10-K for the year ended December 31 1998 (File No. 1-14431)\n10.5\tWater Supply Agreement dated as of June 1 1994 between Golden State Water Company and Central Coast Water Authority incorporated herein by reference to Exhibit 10.15 of Registrant's Form 10-K with respect to the year ended December 31 1994 (File No. 1-14431)\n10.6\t2003 Non-Employee Directors Stock Purchase Plan as amended incorporated herein by reference to Exhibit 10.4 to Registrant's Form 8-K filed on May 20 2015 (File No. 1-14431) (2)\n10.7\tDividend Reinvestment and Common Share Purchase Plan incorporated herein by reference to American States Water Company Registrant's Form S-3D filed November 12 2008 (File No. 1-14431)\n10.8\tForm of Amended and Restated Change in Control Agreement between American States Water Company or a subsidiary and certain executives incorporated herein by reference to Exhibit 10.4 to Registrant's Form 8-K filed on November 21 2014 (File No. 1-14431) (2)\n10.9\tGolden State Water Company Pension Restoration Plan as amended incorporated herein by reference to Exhibit 10.1 to the Registrant's Form 8-K filed on May 21 2009 (File No. 1-14431) (2)\n10.10\tAmended and Restated Credit Agreement between American States Water Company dated June 3 2005 with Wells Fargo Bank N.A. as Administrative Agent as amended incorporated by reference to Exhibit 10.1 to Registrant's 8-K dated June 29 2020\n10.11\tForm of Indemnification Agreement for executive officers incorporated by reference to Exhibit 10.21 to Registrant's Form 10-K for the year ended December 31 2006 (File No. 1-14431) (2)\n10.12\tPolicy Regarding the Recoupment of Certain Performance-Based Compensation Payments incorporated herein by reference to Exhibit 10.3 to the Registrant's Form 8-K filed on April 2 2014 (2)\n", "q10k_tbl_57": "10.13\tOfficer Relocation Policy incorporated herein by reference to Exhibit 10.5 to the Registrant's Form 8-K filed on July 31 2009 (2)\n10.14\tForm of Indemnification Agreement for directors incorporated by reference herein to Exhibit 10.35 to the Registrant's Form 10-K for the period ended December 31 2012 (1) (2)\n10.15\t2016 Stock Incentive Plan incorporated by reference to Exhibit 10.1 to Registrant's Form 8-K filed on May 19 2016 (2)\n10.16\t2013 Non-Employee Directors Plan incorporated by reference herein to Exhibit 10.2 to the Registrant's Form 8-K filed on March 25 2016 (2)\n10.17\tForm of Restricted Stock Award Agreement for officers with respect to time-vested restricted stock awards under the 2016 Stock Incentive Plan after December 31 2017 incorporated by reference to Exhibit 10.1 of Form 8-K filed on November 3 2017\n10.18\tForm of 2018 Performance Award Agreement incorporated by reference to Exhibit 10-1 of Registrant's Form 8-K filed February 2 2018 (2)\n10.19\tPerformance Incentive Plan incorporated by reference to Exhibit 10.1 to Registrant's Form 8-K filed on May 20 2015 (2)\n10.20\tNote Purchase Agreement dated July 8 2020 incorporated by reference to Exhibit 10.1 to Registrant's Form 8-K filed July 14 2020\n10.21\tForm of 2019 Performance Award Agreement incorporated by reference to Exhibit 10.1 to Registrant's Form 8-K filed on February 1 2019 (2)\n10.22\tSeparation Agreement and General Release of All Claims incorporated by reference to Exhibit 10.24 to Registrant's Form 10-K filed on February 24 2020 (2)\n10.23\tForm of Restricted Stock Unit Agreement for grants after December 31 2014 under the 2008 Stock Incentive Plan incorporated by reference to Exhibit 10.1 to Registrant's Form 8-K filed November 21 2014 (2)\n10.24\tForm of 2020 Performance Award Agreement incorporated by reference to Exhibit 10.1 of Registrant's Form 8-K filed January 31 2020 (2)\n10.25\tForm of Restricted Stock Award Agreement for officers with respect to time-vested restricted stock awards under the 2016 Stock Incentive Plan prior to January 1 2018 incorporated by reference to Exhibit 10.1 of Form 8-K filed on February 6 2017 (2)\n10.26\tForm of Restricted Stock Award Agreement for officers with respect to time-vested restricted stock awards under the 2016 Stock Incentive Plan after December 31 2017 incorporated by reference to Exhibit 10.1 of Form 8-K filed on November 3 2017 (2)\n10.27\tForm of 2018 Performance Award Agreement incorporated by reference to Exhibit 10-1 of Registrant's Form 8-K filed February 2 2018 (2)\n10.28\t2020 Short-Term Incentive Program incorporated by reference to Exhibit 10.1 of Registrant's Form 8-K filed on April 1 2020 (2)\n10.29\tForm of Award Agreement for the 2020 Short-Term Incentive Program incorporated by reference to Exhibit 10.2 of Registrant's Form 8-K filed on April 1 2020 (2)\n31.1\tCertification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for AWR (1)\n31.1.1\tCertification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for GSWC (1)\n31.2\tCertification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for AWR (1)\n31.2.1\tCertification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 for GSWC (1)\n32.1\tCertification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (3)\n32.2\tCertification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (3)\n101.INS\tXBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.\n101.SCH\tXBRL Taxonomy Extension Schema (3)\n", "q10k_tbl_58": "101.CAL\tXBRL Taxonomy Extension Calculation Linkbase (3)\n101.DEF\tXBRL Taxonomy Extension Definition Linkbase (3)\n101.LAB\tXBRL Taxonomy Extension Label Linkbase (3)\n101.PRE\tXBRL Taxonomy Extension Presentation Linkbase (3)\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_5", "cf": "q10k_tbl_8"}None
Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the quarterly period ended September 30, 2020
or
☐
Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
for the transition period from to
Commission file number 001-14431
American States Water Company
(Exact Name of Registrant as Specified in Its Charter)
California
95-4676679
(State or Other Jurisdiction of Incorporation or Organization)
(IRS Employer Identification No.)
630 E. Foothill Blvd
San Dimas
CA
91773-1212
(Address of Principal Executive Offices)
(Zip Code)
(909) 394-3600
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Commission file number 001-12008
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each class
Trading symbol
Name of each exchange on which registered
Common shares
AWR
New York Stock Exchange
Golden State Water Company
(Exact Name of Registrant as Specified in Its Charter)
California
95-1243678
(State or Other Jurisdiction of Incorporation or Organization)
(IRS Employer Identification No.)
630 E. Foothill Blvd
San Dimas
CA
91773-1212
(Address of Principal Executive Offices)
(Zip Code)
(909) 394-3600
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)
Indicate by check mark whether Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or such shorter period that the Registrant was required to submit and post such files).
American States Water Company
Yes
x
No
¨
Golden State Water Company
Yes
x
No
¨
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer”, “accelerated filer” and smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
American States Water Company
Large accelerated filer
x
Accelerated filer
¨
Non-accelerated filer
¨
Smaller reporting company
☐
Emerging growth company
☐
Golden State Water Company
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
x
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)
American States Water Company
Yes
☐
No
x
Golden State Water Company
Yes
☐
No
x
As of October 30, 2020, the number of Common Shares outstanding of American States Water Company was 36,889,061 shares. As of October 30, 2020, all of the 165 outstanding Common Shares of Golden State Water Company were owned by American States Water Company.
Golden State Water Company meets the conditions set forth in General Instruction (H)(1)(a) and (b) of Form 10-Q and is therefore filing this Form, in part, with the reduced disclosure format for Golden State Water Company.
The basic financial statements included herein have been prepared by Registrant, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments consisting of normal recurring items and estimates necessary for a fair statement of results for the interim period have been made.
It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto in the latest Annual Report on Form 10-K of American States Water Company and its wholly owned subsidiary, Golden State Water Company.
Filing Format
American States Water Company (“AWR”) is the parent company of Golden State Water Company (“GSWC”), Bear Valley Electric Service, Inc. ("BVESI") and American States Utility Services, Inc. and its subsidiaries ("ASUS"). On July 1, 2020, GSWC completed the transfer of the electric utility assets and liabilities from its electric division to BVESI, in exchange for common shares of BVESI. GSWC then immediately distributed all of BVESI's common shares to AWR, whereupon BVESI became wholly owned directly by AWR.
This quarterly report on Form 10-Q is a combined report being filed by two separate Registrants: AWR and GSWC. For more information, please see Note 1 of the Notes to Consolidated Financial Statements and the heading entitled "General" in "Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations." References in this report to “Registrant” are to AWR and GSWC collectively, unless otherwise specified. GSWC makes no representations as to the information contained in this report other than with respect to itself.
Forward-Looking Information
This Form 10-Q and the documents incorporated herein contain forward-looking statements intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current estimates, expectations and projections about future events and assumptions regarding these events and include statements regarding management’s goals, beliefs, plans or current expectations, taking into account the information currently available to management. Forward-looking statements are not statements of historical facts. For example, when we use words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may” and other words that convey uncertainty of future events or outcomes, we are making forward-looking statements. We are not able to predict all the factors that may affect future results. We caution you that any forward-looking statements made by us are not guarantees of future performance and the actual results may differ materially from those in our forward-looking statements. Some of the factors that could cause future results to differ materially from those expressed or implied by our forward-looking statements or from historical results, include, but are not limited to:
•the outcome of pending and future regulatory, legislative, or other proceedings; investigations or audits, including decisions in GSWC's and BVESI's general rate cases; and the results of independent audits of GSWC's construction contracting procurement practices or other independent audits of our costs;
•changes in the policies and procedures of the California Public Utilities Commission ("CPUC");
•timeliness of CPUC action on GSWC and BVESI rates;
•availability of GSWC's water supplies, which may be adversely affected by increases in the frequency and duration of droughts, changes in weather patterns, contamination, and court decisions or other governmental actions restricting the use of water from the Colorado River, the California State Water Project, or pumping of groundwater;
•BVESI liabilities associated with the inherent risks to persons or property should either come into contact with electrical current or equipment;
•the potential of strict liability for damages caused by GSWC's or BVESI's property or equipment, even if neither was negligent in the operation and maintenance of that property or equipment, under a doctrine known as inverse condemnation;
•the impact of storms, high winds, earthquakes, floods, mudslides, drought, wildfires and similar natural disasters, contamination, or acts of terrorism or vandalism, that (i) affect water quality, supply, or customer demand; (ii) damage or
disrupt facilities, operations, or information technology systems on which we rely; or (iii) cause bodily injury or property damage resulting in liabilities that we may be unable to recover from insurance, third parties, the U.S. government, or that the CPUC or the courts do not permit us to recover from ratepayers;
•the economic impact of the COVID-19 pandemic on GSWC’s or BVESI's liquidity from (i) future credit losses on utility customer bills or (ii) the value of its pension and other retirement plan assets due to possible declines in securities prices;
•the economic impact on the ability of GSWC, BVESI, and the subsidiaries of ASUS to continue to operate, maintain, repair and improve their infrastructure and to provide services to their customers in the ordinary course of business;
•the impact on water utility operations during high fire threat conditions as a result of the Public Safety Power Shut-Off program authorized by the CPUC and implemented by the electric utilities that serve GSWC facilities throughout the state, and our ability to get full cost recovery in rates for costs incurred in preparation of and during a Public Safety Power Shut-Off event;
•inability to recover costs resulting from wildfires caused by BVESI’s electrical equipment from insurance or ratepayers on a timely basis, if at all;
•penalties which may be assessed by the CPUC if BVESI shuts down power to its customers during high threat conditions under the Public Safety Power Shut-Off program authorized by the CPUC if the CPUC determines that the shutdown was not reasonably necessary or excessive in the circumstances;
•BVESI's ability to implement its wildfire mitigation program and effectively implement Public Safety Power Shut-Offs when appropriate;
•costs incurred, and the ability to recover such costs from customers, associated with service disruptions as the result of a Public Safety Power Shut-Off program;
•risks associated with the effectiveness of California Assembly Bill No. 1054 in mitigating the risk faced by California investor-owned utilities related to liability for damages arising from catastrophic wildfires where utility facilities are a substantial cause, including BVESI's ability to obtain or maintain a valid safety certification and the CPUC's interpretation of and actions under California Assembly Bill No. 1054;
•the impact of rolling blackouts and other electric grid disruptions in California on our ability to provide water and electric service to our customers;
•the liquidity impact of California Senate Bill No. 998, which went into effect on February 1, 2020 and prohibits a water company from discontinuing residential water service for nonpayment until a payment by a customer has been delinquent for at least 60 days, and prohibits residential service from being discontinued under specified circumstances;
•increases in the cost of obtaining insurance or in uninsured losses that may not be recovered in rates, or under our contracts with the U.S. government, including increases due to difficulties in obtaining insurance for certain risks, such as wildfires and earthquakes in California;
•increases in costs to reduce the risks associated with the increasing frequency of severe weather, including to improve the resiliency and reliability of our water production and delivery facilities and systems, and our electric transmission and distribution lines;
•increases in service disruptions if severe weather and wildfires, or threats of wildfire become more frequent as they have recently;
•the future impact to GSWC, including increased earnings volatility, from the CPUC's transitioning of the current water revenue adjustment mechanism ("WRAM") and the modified cost balancing account ("MCBA"), to a limited price adjustment mechanism and an incremental supply cost balancing account;
•our ability to forecast the costs of maintaining GSWC's and BVESI's aging infrastructure, to efficiently manage capital expenditures, and operating and maintenance expenses within CPUC-authorized levels, and to timely recover our costs through rates;
•the impact of opposition to GSWC and BVESI rate increases on our ability to recover our costs through rates, including costs associated with construction, and costs associated with bodily injury and property damage arising out of more extreme weather events;
•the impact of opposition by GSWC customers to conservation rate design, including more stringent water-use restrictions from persistent drought conditions in California, as well as future mandated water-use restrictions, which may decrease adopted usage and increase customer rates;
•the impact of condemnation actions on future GSWC revenues and other aspects of our business if we do not receive adequate compensation for the assets taken, or recover all of the associated charges, as well as the impact on future revenues if we are no longer entitled to any portion of the revenues generated from such assets;
•GSWC's and BVESI's ability to recover increases in permitting and other costs associated with negotiating and complying with the terms of its city and county franchise agreements, including costs to meet other local-government demands;
•changes in accounting valuations and estimates, including changes resulting from our assessment of anticipated recovery of GSWC's or BVESI's regulatory assets, settlement of liabilities and revenues subject to refund or regulatory disallowances and the timing of such recovery, and the amounts set aside for uncollectible accounts receivable, inventory obsolescence, pension and post-retirement liabilities, taxes, and uninsured losses and claims, including general liability and workers' compensation claims;
•changes in environmental laws, health and safety laws, water and recycled water quality requirements, and increases in costs associated with complying with these laws and requirements, including costs associated with GSWC's upgrading and building new water treatment plants, GSWC's disposing of residuals from its water treatment plants, more stringent rules regarding pipeline repairs and installation, handling and storing hazardous chemicals, upgrading equipment to make it more resistant to extreme weather events, removal of vegetation near power lines, compliance-monitoring activities and, GSWC's securing alternative water supplies when necessary;
•changes in laboratory detection capabilities and drinking water notification and response levels for certain substances, such as perfluoroalkyl substances ("PFAS") used to make certain fabrics and other materials, used in certain fire suppression agents and also used in various industrial processes;
•our ability to obtain adequate, reliable and cost-effective services, chemical supplies, electricity, fuel, water, and other raw materials that are needed for our water and wastewater operations;
•our ability to attract, retain, train, motivate, develop, and transition key employees;
•our ability to recover the costs associated with any contamination of GSWC’s groundwater supplies from parties responsible for the contamination or through the ratemaking process, and the time and expense incurred by us in obtaining recovery of such costs;
•adequacy of BVESI's power supplies and the extent to which we can manage and respond to the volatility of electricity and natural gas prices;
•BVESI's ability to comply with the CPUC’s renewable energy procurement requirements;
•changes in GSWC's long-term customer demand due to changes in customer usage patterns as a result of conservation, regulatory changes affecting demand such as mandatory restrictions on water use, new landscaping or irrigation requirements, recycling of water by customers or purchase of recycled water supplied by other parties, unanticipated population growth or decline, changes in climate conditions, general economic and financial market conditions and cost increases, which may impact our long-term operating revenues if we are unable to secure rate increases in an amount sufficient to offset reduced demand;
•changes in accounting treatment for regulated utilities;
•effects of changes in, or interpretations of, tax laws, rates or policies;
•changes in estimates used in ASUS’s cost-to-cost method for revenue recognition of certain construction activities;
•termination, in whole or in part, of one or more of ASUS's military utility privatization contracts to provide water and/or wastewater services at military bases for the convenience of the U.S. government or for default;
•suspension or debarment of ASUS for a period of time from contracting with the government due to violations of laws or regulations in connection with military utility privatization activities;
•delays by the U.S. government in making timely payments to ASUS for water and/or wastewater services or construction activities at military bases because of fiscal uncertainties over the funding of the U.S. government or otherwise;
•delays in ASUS obtaining economic price or equitable adjustments to its prices on one or more of our contracts to provide water and/or wastewater services at military bases;
•disallowance of costs on any of ASUS's contracts to provide water and/or wastewater services at military bases because of audits, cost reviews or investigations by contracting agencies;
•inaccurate assumptions used by ASUS in preparing bids;
•failure of wastewater systems that ASUS operates on military bases resulting in untreated wastewater or contaminants spilling into nearby properties, streams or rivers, a risk which may increase if flooding and rainfall become more frequent or severe as a result of climate change;
•failure to comply with the terms of our military privatization contracts;
•failure of any of our subcontractors to perform services for ASUS in accordance with the terms of our military privatization contracts;
•the impact on our growth from competition for new military or other privatization contracts;
•issues with the implementation, maintenance, or upgrading of our information technology systems;
•general economic conditions, which may impact our ability to recover infrastructure investments and operating costs from customers;
•explosions, fires, accidents, mechanical breakdowns, the disruption of information technology and telecommunication systems, human error, and similar events that may occur while operating and maintaining water and electric systems in California or operating and maintaining water and wastewater systems on military bases under varying geographic conditions;
•potential costs, lost revenues, or other consequences resulting from misappropriation of assets or sensitive information, corruption of data, or operational disruption due to a cyber-attack or other cyber incident;
•restrictive covenants in our debt instruments or changes to our credit ratings on current or future debt that may increase our financing costs or affect our ability to borrow or make payments on our debt; and
•our ability to access capital markets and other sources of credit in a timely manner on acceptable terms.
Please consider our forward-looking statements in light of these risks as you read this Form 10-Q. We qualify all of our forward-looking statements by these cautionary statements.