California Water Service Group (CWT) Financial Statements (2024 and earlier)

Company Profile

Business Address 1720 N FIRST ST
SAN JOSE, CA 95112
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4941 - Water Supply (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments62,10078,38044,55542,65347,17694,776
Cash and cash equivalents62,10078,38044,55542,65347,17694,776
Restricted cash and investments22,9252,273574   
Receivables109,151111,99798,425119,349122,959115,454
Inventory, net of allowances, customer advances and progress billings12,5649,5118,8317,7456,5866,463
Inventory12,5649,5118,8317,7456,5866,463
Regulatory asset66,82678,59796,24138,22542,39436,783
Other current assets    22,71018,56717,643
Other undisclosed current assets21,96919,70017,390(45,970)(48,980)(43,246)
Total current assets:295,535300,458266,016184,712188,702227,873
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   7,3948,563
Operating lease, right-of-use asset14,76215,31815,58914,402
Intangible assets, net (including goodwill)53,62549,93543,96213,51514,46513,609
Goodwill36,81436,81431,8422,6152,6152,615
Intangible assets, net (excluding goodwill)16,81113,12112,12010,90011,85010,994
Regulated entity, other noncurrent assets283,620285,692325,376433,322353,569401,147
Other noncurrent assets175,913153,445120,45684,28960,09560,775
Other undisclosed noncurrent assets3,027,2972,818,4232,615,4552,372,5052,220,8732,036,971
Total noncurrent assets:3,555,2173,322,8133,128,2322,926,5962,649,0022,512,502
TOTAL ASSETS:3,850,7523,623,2713,394,2483,111,3082,837,7042,740,375
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities184,523184,124165,976144,249133,046133,996
Interest and dividends payable6,5426,1785,8105,6746,122
Taxes payable5,3794,4774,4454,1823,888
Employee-related liabilities22,67119,47322,54320,22923,916
Accounts payable140,986144,369131,725108,46395,58093,955
Accrued liabilities43,5375,1634,1232,9887,3816,115
Deferred revenue3,1013,0513,3053,325
Debt75,86541,001375,848199,100170,011291,020
Regulatory liability12,24017,54734,6364,46212,21359,303
Other undisclosed current liabilities18,92110,8538,9417,5855,8966,640
Total current liabilities:294,650256,576588,706358,721321,166490,959
Noncurrent Liabilities
Long-term debt and lease obligation1,055,1621,074,313799,451804,887710,027515,793
Long-term debt, excluding current maturities1,052,4871,055,794781,100786,754710,027515,793
Finance lease, liability2,6754,9184,4835,205
Liabilities, other than long-term debt768,826708,070639,423753,328664,742853,440
Customer advances or deposits182,502
Deferred revenue and credits1,724
Deferred compensation liability, classified59,00063,900    
Accumulated deferred investment tax credit    1,5751,649
Deferred tax liabilities, net213,033192,946
Deferred income tax liabilities330,251298,945276,032222,590
Liability, pension and other postretirement and postemployment benefits78,44392,287115,581258,907193,538252,141
Regulatory liability213,679180,428180,718211,413211,275179,706
Other liabilities73,61572,51067,09258,84345,24744,421
Operating lease, liability13,83813,60113,86812,928
Other undisclosed noncurrent liabilities409,720401,332    
Total noncurrent liabilities:2,233,7082,183,7151,438,8741,558,2151,374,7691,369,233
Total liabilities:2,528,3582,440,2912,027,5801,916,9361,695,9351,860,192
Equity
Equity, attributable to parent1,317,5901,177,594921,344779,906730,157693,462
Common stock556537503485481480
Additional paid in capital760,336651,121448,632362,275337,623336,229
Retained earnings556,698525,936472,209417,146392,053356,753
Equity, attributable to noncontrolling interest4,8045,386    
Total equity:1,322,3941,182,980921,344779,906730,157693,462
Other undisclosed liabilities and equity   445,324414,466411,612186,721
TOTAL LIABILITIES AND EQUITY:3,850,7523,623,2713,394,2483,111,3082,837,7042,740,375

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues772,616765,704697,577664,358674,736 
Cost of revenue
(Cost of Goods and Services Sold)
(224,529)(225,020)(230,076)(212,461)(207,103)(227,943)
Gross profit:548,087540,684467,501451,897467,633(227,943)
Operating expenses(132,718)(126,686)(117,058)(108,617)(100,781)(102,914)
Other undisclosed operating income (loss)(287,709)(287,228)(213,777)(243,868)(256,312)425,480
Operating income:127,660126,770136,66699,412110,54094,623
Nonoperating income (expense)11,94524,4092,0274,925(7,102)6,486
Investment income, nonoperating  3,800    
Other nonoperating income (expense)11,94517,4232,0274,925(7,102)6,486
Interest and debt expense(46,686)(45,262)(45,047)(44,891)(39,917)(36,288)
Income from continuing operations before income taxes:92,919105,91793,64659,44663,52164,821
Income tax expense  (4,092)    
Income from continuing operations:92,919101,82593,64659,44663,52164,821
Income before gain (loss) on sale of properties:101,82593,64659,44663,52164,821
Other undisclosed net income (loss)2,344(846)    
Net income:95,263100,97993,64659,44663,52164,821
Net income attributable to noncontrolling interest748146    
Other undisclosed net income attributable to parent   3,1853,670  
Net income attributable to parent:96,011101,12596,83163,11663,52164,821
Other undisclosed net income available to common stockholders, basic     2,0632,360
Net income available to common stockholders, diluted:96,011101,12596,83163,11665,58467,181

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:95,263100,97993,64659,44663,52164,821
Comprehensive income:95,263100,97993,64659,44663,52164,821
Comprehensive income, net of tax, attributable to noncontrolling interest748146    
Comprehensive income, net of tax, attributable to parent:96,011101,12593,64659,44663,52164,821

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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